Document:

Exhibit 4.2 

 

Execution
Version

	 

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.,

Depositor

 

KEYBANK
NATIONAL ASSOCIATION,

Servicer and Pearlridge Special Servicer

 

PACIFIC
LIFE INSURANCE COMPANY,

Scottsdale Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

Trustee and Certificate Administrator 

 

POOLING
AND SERVICING AGREEMENT

Dated as of July 24, 2015

 

Commercial
Mortgage Pass-Through Certificates,

 

Series
2015-WPG 

	 

 

    	 

    	 

    

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I
	 	 	 	 	 
	DEFINITIONS
	 	 	 	 	 
	Section 1.01	 	Defined Terms	 	6
	Section 1.02	 	Other Definitional Provisions	 	73
	Section 1.03	 	Certain Calculations	 	74
	Section 1.04	 	Certain Adjustments to the Principal Distributions on the Certificates	 	76
	 	 	 	 	 
	ARTICLE II
	 	 	 	 	 
	CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES
	 	 	 	 	 
	Section 2.01	 	Conveyance of Mortgage Loans; Assignment of Mortgage Loan Purchase Agreement	 	78
	Section 2.02	 	Acceptance by Certificate Administrator and the Trustee	 	82
	Section 2.03	 	Representations, Warranties and Covenants of the Depositor	 	85
	Section 2.04	 	Representations, Warranties and Covenants of the Servicer and the Special Servicers	 	88
	Section 2.05	 	Execution and Delivery of the Certificates and Uncertificated Lower-Tier Interests	 	93
	Section 2.06	 	Miscellaneous REMIC Provisions	 	93
	 	 	 	 	 
	ARTICLE III
	 	 	 	 	 
	ADMINISTRATION AND SERVICING 

OF THE WHOLE LOANS
	 	 	 	 	 
	Section 3.01	 	Servicer to Act as Servicer; Administration of the Mortgage Loans	 	94
	Section 3.02	 	Liability of the Servicer	 	98
	Section 3.03	 	Collection of Certain Mortgage Loan Payments	 	98
	Section 3.04	 	Collection of Taxes, Assessments and Similar Items; Escrow Accounts	 	98
	Section 3.05	 	Collection Account; Lower-Tier Distribution Account; Upper-Tier Distribution Account; Interest Reserve Account	 	100
	Section 3.06	 	Permitted Withdrawals from the Collection Account	 	102
	Section 3.07	 	Investment of Funds in the Collection Account, the REO Account, the Lock Box Accounts, the Cash Collateral Accounts and the Reserve Accounts	 	108
	Section 3.08	 	Maintenance of Insurance Policies and Errors and Omissions and Fidelity Coverage	 	111
	Section 3.09	 	Enforcement of Due-On-Sale Clauses; Assumption Agreements	 	115
	Section 3.10	 	Appraisals; Realization Upon Defaulted Mortgage Loans	 	117

 

    	-i-

    	 

    

	 	 	 	 	 
	Section 3.11	 	Certificate Administrator and Trustee to Cooperate; Release of Mortgage Files	 	121
	Section 3.12	 	Servicing Fees, Certificate Administrator Fees and Special Servicing Compensation	 	122
	Section 3.13	 	Reports to the Certificate Administrator; Collection Account Statements	 	126
	Section 3.14	 	Annual Reports on Assessment of Compliance with Servicing Criteria	 	127
	Section 3.15	 	[Reserved]	 	129
	Section 3.16	 	Annual Independent Public Accountants’ Servicing Report	 	129
	Section 3.17	 	Access to Certain Documentation	 	130
	Section 3.18	 	Title and Management of REO Properties and REO Account	 	130
	Section 3.19	 	Sale of Defaulted Mortgage Loans and REO Properties	 	134
	Section 3.20	 	Additional Obligations of the Servicer and Special Servicer; Inspections; Successor Manager	 	138
	Section 3.21	 	Appointment of Custodians	 	138
	Section 3.22	 	[Reserved]	 	139
	Section 3.23	 	Lock Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts	 	139
	Section 3.24	 	Servicing Advances	 	139
	Section 3.25	 	Appointment of Special Servicer	 	141
	Section 3.26	 	Transfer of Servicing Between Servicer and Special Servicer; Record Keeping	 	142
	Section 3.27	 	Limitations on and Authorizations of the Servicer and Special Servicer with Respect to Certain Mortgage Loans	 	147
	Section 3.28	 	Modification, Waiver, Amendment and Consents	 	148
	Section 3.29	 	[RESERVED]	 	149
	Section 3.30	 	[RESERVED]	 	149
	Section 3.31	 	Rating Agency Confirmation	 	149
	Section 3.32	 	Companion Loan Intercreditor Matters	 	151
	 	 	 	 	 
	ARTICLE IV
	 	 	 	 	 
	DISTRIBUTIONS TO CERTIFICATEHOLDERS
	 	 	 	 	 
	Section 4.01	 	Distributions	 	154
	Section 4.02	 	Statements to Certificateholders	 	161
	Section 4.03	 	Compliance with Withholding Requirements	 	165
	Section 4.04	 	REMIC Compliance	 	165
	Section 4.05	 	Imposition of Tax on the Trust REMICs	 	167
	Section 4.06	 	Investor Q&A Forum and Investor Registry	 	168
	Section 4.07	 	Remittances; Monthly Advances	 	170
	Section 4.08	 	Appraisal Reductions	 	172

 

    	-ii-

    	 

    

	 	 	 	 	 
	ARTICLE V
	 	 	 	 	 
	THE CERTIFICATES
	 	 	 	 	 
	Section 5.01	 	The Certificates	 	174
	Section 5.02	 	Registration of Transfer and Exchange of Certificates	 	176
	Section 5.03	 	Reserved	 	183
	Section 5.04	 	Form and Registration	 	183
	Section 5.05	 	Notices to Clearing Agency	 	185
	Section 5.06	 	Definitive Certificates	 	185
	Section 5.07	 	Responsibility for Transfer Restrictions	 	187
	Section 5.08	 	Authenticating Agent	 	188
	Section 5.09	 	Access to List of Certificateholders’ Names and Addresses; Special Notices	 	188
	 	 	 	 	 
	ARTICLE VI
	 	 	 	 	 
	THE DEPOSITOR, THE SERVICER 

AND THE SPECIAL SERVICERS
	 	 	 	 	 
	Section 6.01	 	Liability of the Depositor, the Servicer and the Special Servicers	 	189
	Section 6.02	 	Merger or Consolidation of the Servicer or the Special Servicers	 	189
	Section 6.03	 	Limitation on Liability of the Depositor, the Servicer, the Special Servicers and Others	 	190
	Section 6.04	 	Limitation on Resignation of the Servicer and the Special Servicers; Termination of the Servicer and the Special Servicers	 	191
	Section 6.05	 	Rights of the Depositor in Respect of the Servicer and the Special Servicers	 	192
	Section 6.06	 	Servicer or Special Servicer as Owner of a Certificate	 	193
	Section 6.07	 	Confidential and Proprietary Information	 	193
	Section 6.08	 	Rating Agency Fees	 	193
	 	 	 	 	 
	ARTICLE VII
	 	 	 	 	 
	DEFAULT
	 	 	 	 	 
	Section 7.01	 	Termination Events	 	193
	Section 7.02	 	Trustee to Act; Appointment of Successor	 	200
	Section 7.03	 	Notification to Certificateholders	 	202
	Section 7.04	 	Other Remedies of Trustee	 	202
	Section 7.05	 	Waiver of Past Events of Default; Termination	 	202

 

    	-iii-

    	 

    

	 	 	 	 	 
	ARTICLE VIII
	 	 	 	 	 
	CONCERNING THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR
	 
	Section 8.01	 	Duties of Trustee and the Certificate Administrator	 	203
	Section 8.02	 	Certain Matters Affecting the Trustee and the Certificate Administrator	 	205
	Section 8.03	 	Neither the Trustee nor the Certificate Administrator is Liable for Certificates, Mortgage Loans	 	208
	Section 8.04	 	Trustee and Certificate Administrator May Not Own Certificates	 	209
	Section 8.05	 	Payment of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification	 	210
	Section 8.06	 	Eligibility Requirements for Trustee and the Certificate Administrator	 	212
	Section 8.07	 	Resignation and Removal of the Trustee or the Certificate Administrator	 	212
	Section 8.08	 	Successor Trustee or Successor Certificate Administrator	 	213
	Section 8.09	 	Merger or Consolidation of Trustee or the Certificate Administrator	 	214
	Section 8.10	 	Appointment of Co-Trustee or Separate Trustee	 	214
	Section 8.11	 	Maintenance of Office or Agency	 	216
	Section 8.12	 	[RESERVED]	 	216
	Section 8.13	 	Access to Certain Information	 	216
	Section 8.14	 	Rule 17g-5 Information Provider	 	218
	 	 	 	 	 
	ARTICLE IX
	 	 	 	 	 
	CERTAIN MATTERS RELATING TO THE DIRECTING CERTIFICATEHOLDER
	 
	Section 9.01	 	Selection and Removal of the Directing Certificateholder	 	223
	Section 9.02	 	Limitation on Liability of Directing Certificateholder; Acknowledgements of the Certificateholders	 	225
	Section 9.03	 	Rights and Powers of the Directing Certificateholder	 	225
	Section 9.04	 	Directing Certificateholder Contact with Servicer and Special Servicers	 	228
	 	 	 	 	 
	ARTICLE X
	 	 	 	 	 
	TERMINATION
	 	 	 	 	 
	Section 10.01	 	Termination	 	228
	 	 	 	 	 
	ARTICLE XI
	 	 	 	 	 
	MISCELLANEOUS PROVISIONS
	 	 	 	 	 
	Section 11.01	 	Counterparts	 	230
	Section 11.02	 	Limitation on Rights of Certificateholders	 	230
	Section 11.03	 	Governing Law; Waiver of Jury Trial	 	231
	Section 11.04	 	Notices	 	232
	Section 11.05	 	Severability of Provisions	 	236

 

    	-iv-

    	 

    

	 	 	 	 	 
	Section 11.06	 	Notice to the Depositor and Each Rating Agency	 	236
	Section 11.07	 	Amendment	 	238
	Section 11.08	 	Confirmation of Intent	 	241
	Section 11.09	 	Streit Act	 	241
	Section 11.10	 	No Intended Third Party Beneficiaries	 	242
	Section 11.11	 	Cooperation with the Mortgage Loan Sellers with Respect to Rights Under the Loan Agreements	 	242
	Section 11.12	 	Compliance with the Patriot Act	 	242
	 	 	 	 	 
	ARTICLE XII
	 	 	 	 	 
	EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE
	 
	Section 12.01	 	Intent of the Parties; Reasonableness	 	242
	Section 12.02	 	Succession; Sub-Servicers; Subcontractors	 	243
	Section 12.03	 	Other Securitization Trust’s Filing Obligations	 	245
	Section 12.04	 	Form 10-D Disclosure	 	245
	Section 12.05	 	Form 10-K Disclosure	 	245
	Section 12.06	 	Form 8-K Disclosure	 	246
	Section 12.07	 	Annual Compliance Statements	 	246
	Section 12.08	 	Annual Reports on Assessment of Compliance with Servicing Criteria	 	247
	Section 12.09	 	Annual Independent Public Accountants’ Servicing Report	 	249
	Section 12.10	 	Significant Obligor	 	250
	Section 12.11	 	Sarbanes-Oxley Backup Certification	 	251
	Section 12.12	 	Indemnification	 	251
	Section 12.13	 	Amendments	 	252
	Section 12.14	 	Termination of the Certificate Administrator	 	252
	Section 12.15	 	Termination of Sub-Servicing Agreements	 	252
	Section 12.16	 	Notification Requirements and Deliveries in Connection with Securitization of a Companion Loan	 	253

    	-v-

    	 

    

TABLE OF EXHIBITS

	 	 	 
	Exhibit A-1	 	Form of Class A Certificate
	Exhibit A-2	 	Form of Class X Certificate
	Exhibit A-3	 	Form of Class B Certificate
	Exhibit A-4	 	Form of Class C Certificate
	Exhibit A-5	 	Form of Class R Certificate
	Exhibit A-6	 	Form of Class PR-1 Certificate
	Exhibit A-7	 	Form of Class PR-2 Certificate
	Exhibit A-8	 	Form of Class SQ-1 Certificate
	Exhibit A-9	 	Form of Class SQ-2 Certificate
	Exhibit A-10	 	Form of Class SQ-3 Certificate
	Exhibit B	 	Mortgage Loan Schedule
	Exhibit C-1	 	Form of QIB Letter
	Exhibit C-2	 	Form of Institutional Accredited Investor Letter
	Exhibit C-3	 	Form of Affidavit pursuant to Sections 860D(a)(6)(A) and 860E(e)(4) of the Internal Revenue Code of 1986, as Amended
	Exhibit C-4	 	Form of Transferor Letter
	Exhibit C-5	 	Form of Transferee Letter
	Exhibit D	 	Form of Request for Release
	Exhibit E	 	Form of Transfer Certificate for Rule 144A Global Certificate to Temporary Regulation S Global Certificate
	Exhibit F	 	Form of Transfer Certificate for Rule 144A Global Certificate to Regulation S Global Certificate
	Exhibit G	 	Form of Transfer Certificate for Temporary Regulation S Global Certificate to Rule 144A Global Certificate during Restricted Period
	Exhibit H	 	Form of Certification to be given by Beneficial Owner of Temporary Regulation S Global Certificate
	Exhibit I	 	Form of Transfer Certificate for Non-Book Entry Certificate to Temporary Regulation S Global Certificate
	Exhibit J	 	Form of Transfer Certificate for Non-Book Entry Certificate to Regulation S Global Certificate
	Exhibit K	 	Form of Transfer Certificate for Non-Book Entry Certificate to Rule 144A Global Certificate
	Exhibit L-1	 	Form of Investor Certification for Non-Borrower Affiliates
	Exhibit L-2	 	Form of Investor Certification for Borrower Affiliates
	Exhibit L-3	 	Form of Certification for NRSROs
	Exhibit L-4	 	Form of Voting Rights Certification
	Exhibit M	 	Relevant Servicing Criteria
	Exhibit N	 	Servicing Function Participants
	Exhibit O	 	Online Market Date Provider Certification
	Exhibit P	 	Form of Distribution Date Statement
	Exhibit Q	 	CREFC® Payment Information
	Exhibit R	 	Additional Form 10-D Disclosure
	Exhibit S	 	Additional Form 10-K Disclosure
	Exhibit T	 	Form 8-K Disclosure Information

 

    	-vi-

    	 

    

	 	 	 
	Exhibit U	 	Additional Disclosure Notification
	Exhibit V	 	[Reserved]
	Exhibit W	 	Form of Annual Compliance Statement
	Exhibit X	 	Form of Report on Assessment of Compliance with Servicing Criteria

 

    	-vii-

    	 

    

 

Pooling
and Servicing Agreement, dated as of July 24, 2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp.,
as Depositor, KeyBank National Association, as Servicer and Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale
Special Servicer and Wells Fargo Bank, National Association, as Trustee and Certificate Administrator.

 

PRELIMINARY
STATEMENT:

(Terms used but not defined in this Preliminary Statement

shall have the meanings specified in Article I)

 

Reference
is made to (A) that certain ten (10)-year, fixed-rate, interest-only mortgage loan (the “Pearlridge Mortgage Loan”)
evidenced by (i) two (2) senior promissory notes, one in the principal amount of $6,240,000 (the “Pearlridge Note A-1-S”)
and one in the principal amount of $4,160,000 (the “Pearlridge Note A-2-S”, and together with the Pearlridge
Note A-1-S, the “Pearlridge Trust A Notes”), which are pari passu with one another and with two (2)
related Companion Loans (described below) that are not assets of the Trust, (ii) two (2) senior subordinate promissory notes,
which are pari passu with one another, one in the principal amount of $29,160,000 (the “Pearlridge Note B-1-S”)
and one in the principal amount of $19,440,000 (the “Pearlridge Note B-2-S” and, together with the Pearlridge
Note B-1-S, the “Pearlridge Trust B Notes”) and (iii) two (2) subordinate promissory notes which are pari
passu with one another, one in the principal amount of $27,600,000 (the “Pearlridge Note C-1-S”) and one
in the principal amount of $18,400,000 (the “Pearlridge Note C-2-S” and, together with the Pearlridge Note
C-1-S, the “Pearlridge Trust C Notes” and together with the Pearlridge Trust A Notes and the Pearlridge Trust
B Notes, the “Pearlridge Trust Notes”), with an aggregate outstanding principal balance as of the Closing Date
of $105,000,000 and (B) that certain ten (10)-year, fixed-rate, interest-only mortgage loan (the “Scottsdale Mortgage
Loan” and, together with the Pearlridge Mortgage Loan, the “Mortgage Loans” and each a “Mortgage
Loan”) evidenced (i) two (2) senior promissory notes, one in the principal amount of $15,000,000 (the “Scottsdale
Note A-1-S”) and one in the principal amount of $10,000,000 (the “Scottsdale Note A-2-S”, and together
with the Scottsdale Note A-1-S, the “Scottsdale Trust A Notes”), which are pari passu with one another
and with two (2) related Companion Loans (described below) that are not assets of the Trust, and (ii) two (2) senior subordinate
promissory notes, which are pari passu with one another, one in the principal amount of $7,800,000 (the “Scottsdale
Note B-1-S”) and one in the principal amount of $5,200,000 (the “Scottsdale Note B-2-S” and, together
with the Scottsdale Note B-1-S, the “Scottsdale Trust B Notes”) and (iii) two (2) subordinate promissory notes,
which are pari passu with one another, are in the principal amount of $34,200,000 (the “Scottsdale Note C-1-S”)
and one in the principal amount of $22,800,000 (the “Scottsdale Note C-2-S” and, together with the Scottsdale
Note C-1-S, the “Scottsdale Trust C Notes” and, together with the Scottsdale Trust A Notes and the Scottsdale
Trust B Notes, the “Scottsdale Trust Notes”), with an aggregate outstanding principal balance as of the Closing
Date of $95,000,000. The Pearlridge Trust Notes and the Scottsdale Trust Notes are collectively referred to herein as the “Trust
Notes” and, each, as a “Trust Note”. The Pearlridge Note A-1-S, Pearlridge Note A-2-S, Pearlridge
Note B-1-S, Pearlridge Note B-2-S, Scottsdale Note A-1-S, Scottsdale Note A-2-S, Scottsdale Note B-1-S, Scottsdale Note B-2-S
are the “Pooled Trust Notes”. The Pearlridge Note C-1-S, Pearlridge Note C-2-S, Scottsdale Note C-

 

    	 

    	 

    

 

1-S
and Scottsdale Note C-2-S are collectively referred to herein as the “Non-Pooled Trust Notes”.

 

The
Pearlridge Mortgage Loan was co-originated by JPMorgan Chase Bank, National Association (“JPMCB”) and German
American Capital Corporation (“GACC”) pursuant to that certain loan agreement, dated as of May 20, 2015
(as further amended from time to time, the “Pearlridge Loan Agreement”), by and among BRE/Pearlridge LLC (the
“Pearlridge Borrower”), JPMCB and GACC. As of the Closing Date, the aggregate outstanding principal balance
of the Pearlridge Mortgage Loan is $105,000,000.

 

The
Scottsdale Mortgage Loan was co-originated by JPMCB and GACC pursuant to that certain loan agreement, dated as of May 20, 2015
(as further amended from time to time, the “Scottsdale Loan Agreement” and together with the Pearlridge Loan
Agreement, the “Loan Agreements” and each a “Loan Agreement”), by and among Scottsdale Mortgage
Loan, SDQ Fee, LLC (the “Scottsdale Borrower” and, together with the Pearlridge Borrower, the “Borrowers”
and each a “Borrower”), JPMCB and GACC. As of the Closing Date, the aggregate outstanding principal balance
of the Scottsdale Mortgage Loan is $95,000,000.

 

Each
Mortgage Loan (together with the related Companion Loans, a “Whole Loan”) is part of a split loan structure.
The split loan structure of the Pearlridge Whole Loan is comprised of (i) the Pearlridge Mortgage Loan and (ii) two (2) related
senior companion loans (the “Pearlridge Companion Loans”) evidenced by two (2) promissory notes, one in the
principal amount of $72,000,000 (the “Pearlridge Note A-1-C”) and one in the principal amount of $48,000,000
(the “Pearlridge Note A-2-C”, and together with the Pearlridge Note A-1-C, the “Pearlridge Non-Trust
Notes”, each of which are pari passu with the Pearlridge Trust A Notes). The Pearlridge Companion Loans will
not be assets of the Trust. The Pearlridge Mortgage Loan and the Pearlridge Companion Loans are collectively referred to herein
as the “Pearlridge Whole Loan”. As of the Closing Date, the aggregate outstanding principal balance of the
Pearlridge Whole Loan is $225,000,000.

 

The
split loan structure of the Scottsdale Whole Loan is comprised of (i) the Scottsdale Mortgage Loan and (ii) two (2) related senior
companion loans (the “Scottsdale Companion Loans” and, together with the Pearlridge Companion Loans, the “Companion
Loans” and each a “Companion Loan”) evidenced by two (2) promissory notes, one in the principal amount
of $42,000,000 (the “Scottsdale Note A-1-C”) and one in the principal amount of $28,000,000 (the “Scottsdale
Note A-2-C”, and together with the Scottsdale Note A-1-C, the “Scottsdale Non-Trust Notes”, each
of which are pari passu with the Scottsdale Trust A Notes). The Scottsdale Companion Loans will not be an asset of the
Trust. The Scottsdale Mortgage Loan and the Scottsdale Companion Loans are collectively referred to herein as the “Scottsdale
Whole Loan”. As of the Closing Date, the aggregate outstanding principal balance of the Scottsdale Whole Loan is $165,000,000.
The Pearlridge Non-Trust Notes and the Scottsdale Non-Trust Notes are collectively referred to herein as the “Non-Trust
Notes” and, each as a “Non-Trust Note”. The Trust Notes and the Non-Trust Notes are collectively
referred to herein as the “Notes” and, each as a “Note”.

 

The
Pearlridge Mortgage Loan was sold and assigned by JPMCB and GACC to the Depositor pursuant to a mortgage loan purchase and sale
agreement, dated as of July

 

    	-2-

    	 

    

 

24, 2015
(the “Pearlridge Mortgage Loan Purchase Agreement”), by and among JPMCB, GACC and the Depositor. The Scottsdale
Mortgage Loan was sold and assigned by JPMCB and GACC to the Depositor pursuant to a mortgage loan purchase and sale agreement,
dated as of July 24, 2015 (the “Scottsdale Mortgage Loan Purchase Agreement” and, together with the Pearlridge
Mortgage Loan Purchase Agreement, the “Mortgage Loan Purchase Agreements” and each a “Mortgage Loan
Purchase Agreement”), by and among JPMCB, GACC and the Depositor. As of the Closing Date, the Pearlridge Note A-1-C
and the Scottsdale Note A-1-C were held by JPMCB, and the Pearlridge Note A-2-C and the Scottsdale Companion Note A-2-C were held
by GACC. The relative rights of the respective lenders in respect of the Pearlridge Whole Loan are set forth in a co-lender agreement
dated as of July 24, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Pearlridge
Co-Lender Agreement”), between the holders of the Pearlridge Trust Notes and the holders of the Pearlridge Non-Trust
Notes. The relative rights of the respective lenders in respect of the Scottsdale Whole Loan are set forth in a co-lender agreement
dated as of July 24 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Scottsdale
Co-Lender Agreement” and, together with the Pearlridge Co-Lender Agreement, the “Co-Lender Agreements”
and each a “Co-Lender Agreement”), between the holders of the Scottsdale Trust Notes and the holders of the
Scottsdale Non-Trust Notes. From and after the Closing Date, the Whole Loans are to be serviced and administered in accordance
with this Agreement.

 

The
Depositor intends to cause pass-through certificates to be issued hereunder in multiple Classes that in the aggregate will evidence
the entire beneficial ownership interest in the Trust Fund consisting primarily of the Mortgage Loans.

 

As
provided herein, the Trustee will hold the assets transferred to it hereunder as a separate trust. The Certificate Administrator
will elect that two segregated asset pools within the Trust Fund be treated for federal income tax purposes as two separate real
estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC”
and the “Upper-Tier REMIC,” respectively, and collectively, the “Trust REMICs”).

 

UPPER-TIER
REMIC

 

The
Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2 and Class SQ-3 Certificates
will evidence “regular interests” in the Upper-Tier REMIC created hereunder. The Class UT-R Interest will constitute
the sole Class of “residual interests” in the Upper-Tier REMIC created hereunder, and will be evidenced by the Class R
Certificates. The following table sets forth the class designation, the initial pass-through rate (the “Initial Pass-Through
Rate”) and the aggregate initial Certificate Balance (the “Original Certificate Balance”) or Notional
Amount (“Original Notional Amount”), as applicable, for each Class of Certificates (other than the Class R
Certificates) and the Class UT-R Interest comprising the interests in the Upper-Tier REMIC created hereunder:

 

	Class

                                         Designation
	 	Initial
                                         Pass-Through Rate

                                         (per annum) 
	 	Original

                                         Certificate Balance or Original

                                         Notional Amount

	Class A	 	3.6332%(3)	 	 	$30,600,000
	Class X	 	0.0000%(1)	 	 	$97,000,000(2)
	Class B	 	3.6332%(3)	 	 	$32,100,000

 

    	-3-

    	 

    

 

	Class

                                         Designation
	 	Initial
                                         Pass-Through Rate

                                         (per annum) 
	 	Original

                                         Certificate Balance or Original

                                         Notional Amount

	Class C	 	3.6332%(3)	 	 	$34,300,000
	Class PR-1	 	3.6332%(4)	 	 	$27,800,000
	Class PR-2	 	3.6332%(4)	 	 	$18,200,000
	Class SQ-1	 	3.6332%(4)	 	 	$15,900,000
	Class SQ-2	 	3.6332%(4)	 	 	$21,600,000
	Class SQ-3	 	3.6332%(4)	 	 	$19,500,000
	Class UT-R	 	  None(5)	 	 	None(5)
	 	 	 	 	 	 

 

		(1)	The
                                         Class X Pass-Through Rate for any Interest Accrual Period is variable and for each
                                         Distribution Date will equal the weighted average of the Class X Strip Rates for the
                                         Class A, Class B and Class C Certificates (weighted on the basis of the Certificate Balances
                                         of such Classes, in each case, outstanding immediately prior to the related Distribution
                                         Date), but at all times is expected to equal 0.0000%.

 

		(2)	The
                                         Class X Certificates will not have a Certificate Balance, but will have a principal
                                         balance of $100. The Class X Certificates will not be entitled to receive distributions
                                         of principal (other than a payment of $100 on the first Distribution Date which will
                                         be deemed a payment of principal on the principal balance of the Class X Certificates).
                                         Interest will accrue on such Class at the applicable Pass-Through Rate thereof on the
                                         Notional Amount thereof. The Notional Amount of the Class X Certificates for any
                                         Distribution Date will be equal to the aggregate of the Certificate Balances of the Class
                                         A, Class B and Class C Certificates.

 

		(3)	The
                                         Pass-Through Rate of the Class A, Class B and Class C Certificates for any Interest Accrual
                                         Period is variable and for each Distribution Date shall be equal to the Net WAC Rate.

 

		(4)	The
                                         Pass-Through Rate applicable to the Class PR-1, Class PR-2, Class SQ-1, Class SQ-2 and
                                         Class SQ-3 Certificates on each Distribution Date will be a fixed per annum rate
                                         equal to the Net Mortgage Rate in respect of the related Non-Pooled Trust Notes.
                                         

 

		(5)	The
                                         Class UT-R Interest (evidenced by the Class R Certificates) will not have a
                                         Certificate Balance or Notional Amount, will not bear interest and will not be entitled
                                         to distributions of Yield Maintenance Default Premiums. Any Available Funds remaining
                                         in the Upper-Tier Distribution Account, after all required distributions under this Agreement
                                         have been made to each other Class of Certificates and the Class LT-R Interest,
                                         will be distributed to the Holders of the Class R Certificates in respect of the
                                         UT-R Interest.

 

LOWER-TIER
REMIC

 

The
Class LA, Class LB, Class LC, Class LPR-1, Class LPR-2, Class LSQ-1, Class LSQ-2 and Class LSQ-3 Uncertificated
Interests will evidence “regular interests” in the Lower-Tier REMIC created hereunder. The Class LT-R Interest
will constitute the sole Class of “residual interests” in the Lower-Tier REMIC created hereunder and will be evidenced
by the Class R Certificates. The following table sets forth the initial Lower-Tier Principal Amounts and Pass-Through Rates
for the Uncertificated Lower-Tier Interests and the Class LT-R Interest comprising the interests in the Lower-Tier REMIC
created hereunder:

 

    	-4-

    	 

    

  

	Class

                                         Designation

        
	 	Pass-Through
                                         Rate 
	 	Original
                                         Lower-Tier

                                         Principal Amount 

	Class LA	 	3.6332%(1)	 	$30,600,000
	Class LB	 	3.6332%(1)	 	$32,100,000
	Class LC	 	3.6332%(1)	 	$34,300,000
	Class LPR-1	 	3.6332%(2)	 	$27,800,000
	Class LPR-2	 	3.6332%(2)	 	$18,200,000
	Class LSQ-1	 	3.6332%(2)	 	$15,900,000
	Class LSQ-2	 	3.6332%(2)	 	$21,600,000
	Class LSQ-3	 	3.6332%(2)	 	$19,500,000
	Class LT-R	 	None(3)	 	None(3)
	 	 	 	 	 

 

		(1)	The
                                         Pass-Through Rate for each of the Class LA, Class LB and Class LC Uncertificated
                                         Interests shall be the Net WAC Rate.

 

		(2)	The
                                         Pass-Through Rate for each of the Class LPR-1, Class LPR-2, Class LSQ-1, Class LSQ-2
                                         and Class LSQ-3 Uncertificated Interests shall be the Net Mortgage Rate of the related
                                         Non-Pooled Trust Notes. 

 

		(3)	The
                                         Class LT-R Interest (evidenced by the Class R Certificates) will not have a
                                         Certificate Balance or Notional Amount, will not bear interest and will not be entitled
                                         to distributions of Yield Maintenance Default Premiums. Any Available Funds constituting
                                         assets remaining in the Lower-Tier Distribution Account after all other required distributions
                                         under this Agreement have been made shall be distributed to the Holders of the Class R
                                         Certificates in respect of the Class LT-R Interest (but only to the extent of the
                                         Available Funds for such Distribution Date, if any, remaining in the Lower-Tier Distribution
                                         Account).

 

The
Class R Certificates do not have a Certificate Balance, Notional Amount or Pass-Through Rate. The Certificate Balance of
any Class of Regular Certificates (other than the Class X Certificates) outstanding at any time represents the maximum amount
that Holders thereof are entitled to receive as distributions allocable to principal from the cash flow on the Mortgage Loans
and the other assets in the Trust Fund; provided, however, that if amounts previously allocated as a Realized Loss
to a Class of Regular Certificates (other than the Class X Certificates) in reduction of the Certificate Balance thereof are recovered
subsequent to the reduction of the Certificate Balance of such Class to zero, such Class may receive distributions in respect
of such recoveries in accordance with the priorities set forth in Section 4.01.

 

The
Trust Fund will consist primarily of the Mortgage Loans generally secured by mortgages on retail properties, which are identified
on the Mortgage Loan Schedule.

 

As
of the Closing Date, the Pooled Mortgage Loans have an aggregate Principal Balance of $97,000,000.

 

As
of the Closing Date, the Mortgage Loans have an aggregate Principal Balance of $200,000,000.

 

The
name of the trust created hereby is “WP Glimcher Mall Trust 2015-WPG”.

 

    	-5-

    	 

    

 

In
consideration of the mutual agreements herein contained, the Depositor, the Servicer, the Pearlridge Special Servicer, the Scottsdale
Special Servicer, the Certificate Administrator and the Trustee agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.01     Defined Terms. Whenever used in this Agreement, the following words and phrases,
unless the context otherwise requires, shall have the meanings specified in this Article.

 

“15Ga-1
Notice”: As defined in Section 2.02(b).

 

“17g-5
Information Provider”: The Certificate Administrator.

 

“17g-5
Information Provider’s Website”: The internet website of the 17g-5 Information Provider that will initially
be located within the Certificate Administrator’s Website (www.ctslink.com), under the “NRSRO” tab on the page
relating to this transaction. Such website shall provide means of navigation for each Rating Agency and NRSRO to the portion of
the Certificate Administrator’s Website available to Privileged Persons.

 

“Acceptable
Insurance Default”: With respect to any Mortgage Loan (other than a Mortgage Loan that expressly requires the related
Borrower to maintain insurance coverage for acts of terrorism (or that expressly requires the related Borrower to maintain insurance
coverage for acts of terrorism but limits the amount that must be spent by the related Borrower for the related premium)), a default
under the related Mortgage Loan Documents arising by reason of (i) any failure on the part of the related Borrower to maintain
with respect to the related Mortgaged Property specific insurance coverage with respect to, or an all-risk casualty insurance
policy that does not specifically exclude, terrorist or similar acts, and/or (ii) any failure on the part of the related
Borrower to maintain with respect to the related Mortgaged Property insurance coverage with respect to damages or casualties caused
by terrorist or similar acts upon terms not materially less favorable than those in place as of the Closing Date, in each case
as to which default the Servicer and the applicable Special Servicer may forbear taking any enforcement action, provided
that the applicable Special Servicer has determined, in its reasonable judgment, based on inquiry consistent with Accepted Servicing
Practices and, unless a Control Event has occurred and is continuing with respect to a Mortgage Loan, with the consent of the
related Directing Certificateholder, that either (a) such insurance is not available at commercially reasonable rates and
that such hazards are not at the time commonly insured against for properties similar to the related Mortgaged Property and located
in or around the region in which such related Mortgaged Property is located, or (b) such insurance is not available at any
rate; provided, however, that such Directing Certificateholder shall not have more than thirty (30) days to respond
to the applicable Special Servicer’s request for such consent or consultation; provided, further, that upon
the applicable Special Servicer’s determination, consistent with Accepted Servicing Practices, that exigent circumstances
do not allow the applicable Special Servicer to consult with the Directing Certificateholder, the applicable Special Servicer
shall not be required to do so. Each of the Servicer (at its own expense) and each Special Servicer (at the

 

    	-6-

    	 

    

 

expense of the Trust
Fund) shall be entitled to rely on insurance consultants in making the determinations described above.

 

“Accepted
Servicing Practices”: With respect to the Servicer and the Special Servicers, the higher of (x) the same care,
skill, prudence, and diligence with which the Servicer or the applicable Special Servicer, as applicable, services and administers
similar Whole Loans for other third party portfolios, giving due consideration to customary and usual standards of practice of
prudent institutional commercial lenders servicing their own loans similar to the Whole Loans and (y) the same care, skill,
prudence and diligence that the Servicer or the applicable Special Servicer, as applicable, utilizes for similar mortgage loans
that the Servicer or the such Special Servicer, as applicable, owns; and acting in accordance with applicable law, the terms of
this Agreement and the terms of the respective Mortgage Loans and Co-Lender Agreements and with a view to the maximization of
timely recovery of principal and interest on a net present value basis on the Whole Loans, and with respect to the Special Servicers,
REO Properties, and the best interests of the Trust Fund and the Holders of the Certificates and the related Companion Loan Holders
(as if such Certificateholders and related Companion Loan Holders constituted a single lender), but without regard to:

 

                               
(i)          any relationship that the Servicer or applicable Special
Servicer, as applicable, or any Affiliate of the Servicer or applicable Special Servicer may have with the related Borrower, the
Depositor or any Affiliates of the related Borrower or the Depositor;

 

                                (ii)          the ownership of any Certificate or Companion Loan
by the Servicer or each Special Servicer, as applicable, or any Affiliate of the Servicer or applicable Special Servicer;

 

                                (iii)         the ownership of any junior indebtedness or mezzanine
loan with respect to the related Mortgaged Property by the Servicer or applicable Special Servicer, as applicable, or any Affiliate
of the Servicer or applicable Special Servicer;

 

                                (iv)         the Servicer’s obligation to make Advances
as specified herein, or, with respect to the Companion Loans, any other pooling and servicing agreement; and

 

                                (v)          the Servicer’s or applicable Special Servicer’s,
as applicable, right to receive compensation or reimbursement of costs for its services hereunder or with respect to any particular
transaction.

 

“Additional
Disclosure Notification”: The form of notification to be included with any Additional Form 10-D Disclosure, Additional
Form 10-K Disclosure or Form 8-K Disclosure Information which is attached to this Agreement as Exhibit U.

 

“Additional
Exclusions”: Exclusions in addition to those customarily found in the insurance policies for mortgaged properties similar
to the Mortgaged Properties on or prior to September 11, 2001.

 

“Additional
Form 10-D Disclosure”: The information described in the Form 10-D items set forth under the “Item on Form 10-D”
column on Exhibit R hereto.

 

    	-7-

    	 

    

 

“Additional
Form 10-K Disclosure”: The information described in the Form 10-K items set forth under the “Item on Form 10-K”
column on Exhibit S hereto.

 

“Additional
Servicer”: Each Affiliate of the Servicer, the Special Servicers, the Mortgage Loan Sellers that services any of the
Mortgage Loans and each Person who is not an Affiliate of the Servicer, other than the applicable Special Servicer, who services
10% or more of the Mortgage Loans. For the avoidance of doubt, the Certificate Administrator shall not be considered an “Additional
Servicer”.

 

“Additional
Trust Fund Expenses”: (i) Any Advance Interest Amount paid to the Servicer or the Trustee in respect of Monthly Advances
made with respect to the related Mortgage Loan that cannot be reimbursed out of Default Interest or late payment charges on the
related Mortgage Loan and any Servicing Advances or Administrative Advances made with respect to the related Mortgage Loan that
cannot be reimbursed from proceeds of the related Whole Loan; (ii) compensation payable to the applicable Special Servicer in
connection with a Specially Serviced Mortgage Loan or an REO Property and not paid by the related Borrower; and (iii) any other
unanticipated expenses of the Trust Fund, including, but not limited to, reimbursements to the Trustee, the Certificate Administrator,
the Servicer, the Special Servicers and related Persons of each of the foregoing and indemnification to Persons entitled thereto
pursuant to Section 6.03 and Section 8.05, taxes payable from the assets of the Trust Fund, tax related
expenses and the cost of various opinions of counsel required to be obtained in connection with the servicing of the Mortgage
Loans, the administration of the Trust Fund hereunder, in each case to the extent that the Trust Fund has not obtained, and in
the reasonable good faith judgment of the Servicer, the applicable Special Servicer, the Certificate Administrator or the Trustee,
as applicable, will not obtain, reimbursement or indemnification thereof from any Person or from the proceeds of the liquidation
or disposition of any Mortgage Loan or REO Property; provided, however, that with respect to any amounts described
in the immediately preceding clauses (i) through (iii) that are reimbursable by a Borrower pursuant to the
related Mortgage Loan Documents, such amounts will constitute Additional Trust Fund Expenses only to the extent not reimbursed
by such Borrower or deemed a Nonrecoverable Advance.

 

“Adjusted
Certificate Principal Distribution Amount”: For any Distribution Date, an amount equal to the Certificate Principal
Distribution Amount for such Distribution Date, subject to adjustment in accordance with Section 1.04 and Section 3.06(b).

 

“Administrative
Advances”: As defined in Section 3.06(a).

 

“Administrative
Cost Rate”: With respect to each Mortgage Loan, the sum of the per annum rates at which the Servicing Fee, the
Certificate Administrator Fee (including the portion thereof allocated to the Trustee Fee) and the CREFC® Intellectual
Property Royalty License Fee are calculated.

 

“Advance
Interest Amount”: Interest at the Advance Interest Rate on the aggregate amount of Advances with respect to a Mortgage
Loan and, with respect to Servicing Advances, also with respect to the related Companion Loans, compounded monthly, for which
the Servicer or the Trustee, as applicable, has not been reimbursed for the number of days from

 

    	-8-

    	 

    

 

the date on which such Advance
was made to (but excluding) the date on which such amounts are reimbursed to the Servicer or Trustee, as applicable; provided,
however, that if the related Borrower makes payment of the amount in respect of which an Advance was made with interest
at the Default Rate or late payment charges, the Advance Interest Amount payable to the Servicer or the Trustee with respect to
such Advance shall be paid (i) first from the amount of Default Interest and late payment charges paid by the Borrower and
(ii) to the extent such amounts are insufficient therefor, from amounts on deposit in the Collection Account to the extent
provided in Section 3.06.

 

“Advance
Interest Rate”: The “prime rate” in effect from time to time (as published in the “Money Rates”
section of The Wall Street Journal or, if such section or publication no longer is available, such other publication as
determined by the Servicer or the Trustee, as applicable in its reasonable discretion).

 

“Advances”:
Any Administrative Advance, Monthly Advance and Servicing Advance.

 

“Affiliate”:
With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. The Trustee and the Certificate Administrator may obtain and conclusively rely on an Officer’s Certificate of
the Servicer, a Special Servicer or the Depositor to determine whether any Person is an Affiliate of such party.

 

“Agreement”:
This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.

 

“Anticipated
Termination Date”: Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant
to Section 10.01(b).

 

“Applicable
Laws”: As defined in Section 11.12.

 

“Appraisal”:
An appraisal from an Independent MAI appraiser.

 

“Appraisal
Reduced Interest”: As defined in Section 1.03(f).

 

“Appraisal
Reduction”: For any Distribution Date and for any Mortgage Loan or a related Companion Loan as to which any Appraisal
Reduction Event has occurred, will be an amount, calculated by the applicable Special Servicer (and, prior to the occurrence of
a Consultation Termination Event with respect to such Mortgage Loan, in non-binding consultation with the Directing Certificateholder),
based upon the value determined by the applicable Special Servicer, as of the first Determination Date that is at least 10 Business
Days following the date on which the applicable Special Servicer receives an Appraisal, equal to the excess of (a) the outstanding
Principal Balance of the related Whole Loan, over (b) the excess of (i) the sum of (A) 90% of the Appraised Value
of the related Mortgaged Property as determined by one or more Appraisals with respect to the related Mortgaged Property (the
costs of which

 

    	-9-

    	 

    

 

shall be paid by the Servicer as an Advance), minus, with respect to any Appraisals, such downward adjustments
as the applicable Special Servicer may make (without implying any obligation to do so) based upon its review of the Appraisal
and any other information it deems relevant and (B) all escrows, letters of credit and reserves in respect of that Whole
Loan as of the date of calculation over (ii) the sum, as of the Payment Date occurring in the month of the date of determination,
of (A) to the extent not previously advanced by the Servicer or the Trustee, all unpaid interest due on that Whole Loan at
a per annum rate equal to the Mortgage Rate, (B) all Administrative Advances and Servicing Advances on that Whole
Loan not reimbursed from the proceeds of such Whole Loan, and Advance Interest Amounts at the Advance Interest Rate in respect
of that Whole Loan, and (C) all currently due and unpaid real estate taxes, assessments, insurance premiums, ground rents,
unpaid Special Servicing Fees and all other amounts due and unpaid under that Whole Loan (which taxes, premiums, ground rents
and other amounts have not been the subject of an Advance by the Servicer, the applicable Special Servicer or the Trustee, as
applicable); provided, however, that without limiting such Special Servicer’s obligation to order and obtain
such Appraisal, if such Special Servicer has not obtained an Appraisal, referred to above within 60 days of the Appraisal
Reduction Event (or, in the case of an appraisal in connection with an Appraisal Reduction Event described in clauses (i)
and (vi) above, within 120 days (in the case of clause (i) or 90 or 120 days (in the case of clause
(vi)), respectively, after the initial delinquency, the amount of the Appraisal Reduction shall be deemed to be an amount
equal to 25% of the current outstanding Principal Balance of the related Mortgage Loan until such time as such Appraisal referred
to above is received and the Appraisal Reduction is calculated. Within 60 days after the Appraisal Reduction Event, the applicable
Special Servicer shall order and use reasonable efforts to receive an Appraisal (the cost of which shall be paid by the Servicer
as a Servicing Advance) and the related Appraisal shall be delivered in electronic format by such Special Servicer to the Servicer,
the Certificate Administrator and the Trustee. Each Whole Loan shall be treated as a single mortgage loan for purposes of calculating
an Appraisal Reduction with respect to the Mortgage Loan and related Companion Loans that comprise such Whole Loan. Any Appraisal
Reduction in respect of any Whole Loan shall be allocated to the Mortgage Loan and the related Companion Loans in reverse sequential
order (i.e. first, to the reduction of the outstanding principal balance of each of the related C Notes, pro rata
and pari passu, until the outstanding principal balance of each such Note is reduced to zero; second,
to the reduction of the outstanding principal balance of each of the related B Notes, pro rata and pari passu,
until the outstanding principal balance of each such Note is reduced to zero; and then, to the reduction of the outstanding
principal balance of each of the related A Notes, pro rata and pari passu, until the outstanding principal
balance of each such Note is reduced to zero). Appraisal Reduction amounts allocated to the related C Notes, also referred to
as the Non-Pooled Trust Notes, will be notionally allocated to reduce, in reverse numerical order, the related Classes of Loan
Specific Certificates. Appraisal Reduction amounts allocated to the Pooled Trust Notes will be notionally allocated to reduce
the Class C Certificates and then the Class B Certificates, in that order.

 

“Appraisal
Reduction Event”: With respect to a Mortgage Loan or a related Companion Loan, the earliest of (i) 120 days
after an uncured delinquency (without regard to the application of any grace period), other than any uncured delinquency in respect
of a Balloon Payment, occurs in respect of a Mortgage Loan or a related Companion Loan, (ii) the date on which a reduction
in the amount of Scheduled Monthly Payments on a Mortgage Loan or a related Companion Loan, or a change in any other material
economic term of such Mortgage

 

    	-10-

    	 

    

 

Loan or a related Companion Loan (other than an extension of the Maturity Date), becomes effective
as a result of a modification of such Mortgage Loan or a related Companion Loan by the applicable Special Servicer, (iii) the
date on which a receiver has been appointed, (iv) 60 days after a Borrower declares bankruptcy, (v) 60 days
after the date on which an involuntary petition of bankruptcy is filed with respect to a Borrower if not dismissed within such
time, (vi) 90 days after an uncured delinquency occurs in respect of a Balloon Payment with respect to such Mortgage
Loan or a related Companion Loan, except where a refinancing is anticipated (as evidenced by a written refinancing commitment
from an acceptable lender and reasonably satisfactory in form and substance to the Servicer) within 120 days after the Maturity
Date of such Mortgage Loan or a related Companion Loan, in which case 120 days after such uncured delinquency, and (vii) immediately
after a Mortgage Loan, becomes an REO Mortgage Loan; provided, however, that an Appraisal Reduction Event shall
not occur at any time when the aggregate Certificate Balances of all Classes of Certificates (other than the Class A Certificates)
have been reduced to zero. The applicable Special Servicer shall notify the Servicer, or the Servicer shall notify the applicable
Special Servicer, as applicable, promptly upon such Person having notice or knowledge of the occurrence of any of the foregoing
events. The obligation to obtain an Appraisal following the occurrence of an Appraisal Reduction Event shall be subject to the
provisions of Section 4.08 hereof.

 

“Appraised
Value”: With respect to any Mortgaged Property, the appraised value thereof as determined by an Appraisal of the Mortgaged
Property securing the related Mortgage Loan.

 

“Appraised-Out
Class”: As defined in Section 4.08(f).

 

“Asset
Status Report”: As defined in Section 3.26(b).

 

“Assignment
of Leases”: With respect to any Mortgaged Property, any Assignment of Leases or similar agreement executed by the Borrower,
assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition
of all or a portion of such Mortgaged Property, in the form that was duly executed, acknowledged and delivered, as amended, modified,
renewed or extended through the date hereof and from time to time hereafter.

 

“Assignment
of Mortgage”: An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, that is sufficient under the laws of the jurisdiction in which the related Mortgaged Property is located to reflect of record
the sale of the Mortgage, which assignment, notice of transfer or equivalent instrument may be in the form of one or more blanket
assignments covering Mortgages encumbering Mortgaged Properties located in the same jurisdiction, if permitted by law and acceptable
for recording; provided, however, that none of the Trustee, the Certificate Administrator, the Custodian and the
Servicer shall be responsible for determining whether any assignment is legally sufficient or in recordable form.

 

“Assumed
Scheduled Monthly Payment”: With respect to any Mortgage Loan (or Companion Loan, as applicable) which is delinquent
in respect of its Balloon Payment or after acquisition of REO Property in respect thereof (but not including any period following
the modification, forbearance or extension of such Mortgage Loan or Companion Loan prior to its

 

    	-11-

    	 

    

 

modified maturity date), an amount
deemed to be due on such Mortgage Loan or Companion Loan, which amount shall be equal to the Scheduled Monthly Payment that would
have been due on such Mortgage Loan (or Companion Loan, as applicable) for the relevant Due Period, if, as applicable, (i) the
Maturity Date for the related Mortgage Loan or the Companion Loan had not occurred or (ii) the related Mortgaged Property
had not become an REO Property and such Mortgage Loan (or Companion Loan, as applicable) was still outstanding and no acceleration
of such Mortgage Loan (or Companion Loan, as applicable) had occurred, but taking into account any modification, forbearance or
extension and Debt Service Reduction Amounts.

 

“Assumption
Fees”: Any fees collected by the Servicer or applicable Special Servicer in connection with an assumption of a Mortgage
Loan or substitution of a Borrower thereunder permitted to be executed (or not otherwise prohibited) under the provisions of this
Agreement, but only to the extent such fee is not prohibited in the existing Mortgage Loan Documents (as they exist on the Closing
Date).

 

“Authenticating
Agent”: Any authenticating agent appointed by the Certificate Administrator pursuant to Section 5.08.

 

“Automatic
Appraisal Reduction Amount”: As defined in Section 3.10(a).

 

“Balloon
Payment”: With respect to any Whole Loan, Mortgage Loan or Companion Loan, as the case may be, the payment payable on
the Maturity Date or extended maturity date, as applicable, of such Whole Loan Mortgage Loan or Companion Loan, as applicable.

 

“Bankruptcy
Loss”: A reduction in the Principal Balance on a Mortgage Loan arising from a proceeding under the United States Bankruptcy
Code or any other similar state law or other proceeding with respect to the Borrower of, or Mortgaged Property securing, directly
or indirectly, a Mortgage Loan.

 

“Base
Interest Fraction”: For any Principal Prepayment on any Pooled Trust Notes and with respect to any applicable Class
of Certificates is a fraction (A) whose numerator is the greater of (x) zero and (y) the difference between (i) the Pass-Through
Rate on such Class of Certificates, and (ii) the Prepayment Rate used in calculating the Yield Maintenance Default Premiums with
respect to such Pooled Trust Notes and with respect to such Principal Prepayment and (B) whose denominator is the difference between
(i) the Mortgage Rate on the related Pooled Trust Notes and (ii) the Prepayment Rate used in calculating the Yield Maintenance
Default Premiums with respect to such Pooled Trust Notes with respect to such Principal Prepayment; provided, however,
that (1) under no circumstances will the Base Interest Fraction be greater than one or less than zero, (2) if the Prepayment Rate
is greater than or equal to the Mortgage Rate on the related Mortgage Loan and is greater than or equal to the Pass-Through Rate
on such Class of Certificates, then the Base Interest Fraction will equal zero, and (3) if the Prepayment Rate is greater than
or equal to the Mortgage Rate on such Pooled Trust Notes and is less than the Pass-Through Rate on such Class of Certificates,
then the Base Interest Fraction will be one.

 

    	-12-

    	 

    

 

“Beneficial
Owner”: With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Person maintaining an account with such Depository (directly as a Depository
Participant or indirectly through a Depository Participant, in accordance with the rules of such Depository) with respect to such
Class.

 

“Book
Entry Certificates”: Certificates evidencing a beneficial interest in a Class of Regular Certificates, ownership and
transfer of which shall be made through book entries by a Clearing Agency; provided that after the occurrence of a condition
whereupon book entry registration and transfer are no longer authorized and Definitive Certificates are issued to the Certificateholders,
such certificates shall no longer be “Book Entry Certificates.”

 

“Borrower”:
As defined in the Preliminary Statement.

 

“Borrower
Accounts”: As defined in Section 3.07(a).

 

“Borrower
Affiliate”: Any of the Borrowers, the Guarantor (or any replacement guarantor), any Permitted Mezzanine Borrower, the
general partner or managing member of any Borrower or any Permitted Mezzanine Borrower or any of their respective affiliates.

 

“Borrower
Affiliate Owner”: Any Holder or Beneficial Owner of a Class of Certificates that is the related Borrower, Manager or
an Affiliate thereof. The Trustee and the Certificate Administrator shall have the right to require, as a condition to certifying
that any Person is not a Borrower Affiliate Owner under this Agreement, that such Person provide an Investor Certification and
the Trustee, the Certificate Administrator, the Servicer and the applicable Special Servicer, as applicable, may conclusively
rely on such Investor Certification unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable,
has actual knowledge that such Person is a Borrower Affiliate Owner.

 

“Business
Day”: Any day other than a Saturday, Sunday or any other day on which national banks in New York, New York, or the place
of business of the Trustee, the Certificate Administrator, the Servicer, the Special Servicers or the financial institution that
maintains the Collection Account or any reserve accounts for the Mortgage Loans, the New York Stock Exchange or the Federal Reserve
Bank of New York is not open for business.

 

“Cash
Collateral Account”: With respect to any Mortgage Loan that has a Lock Box Account, any account or accounts created
pursuant to the related Loan Agreement, Cash Collateral Account Agreement or other Mortgage Loan Document into which the Lock
Box Account monies are swept on a regular basis for the benefit of the Trustee as successor to the Mortgage Loan Sellers. Any
Cash Collateral Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive all
reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan and Section 3.07.
The Servicer shall be permitted, to the extent not inconsistent with the terms of the related Mortgage Loan, to make withdrawals
therefrom for deposit into the Collection Account. To the extent not inconsistent with the terms of the related Mortgage Loan,
each such Cash Collateral Account shall be an Eligible Account.

 

    	-13-

    	 

    

 

“Cash
Collateral Account Agreement”: With respect to any Mortgage Loan, the agreement, if any, between the Mortgage Loan Sellers
and the related Borrower, pursuant to which the related Cash Collateral Account, if any, was established.

 

“Certificate”:
Any Pooled Certificate, Loan Specific Certificate or Class R Certificates issued, authenticated and delivered hereunder.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator of the Trust Fund
or its successor in interest, or any successor certificate administrator appointed as herein provided.

 

“Certificate
Administrator Fee”: With respect to each Mortgage Loan and for any Distribution Date, an amount accrued during the related
Interest Accrual Period (or in the case of the first Distribution Date, accrued for a period equal to the initial Interest Accrual
Period) at the Certificate Administrator Fee Rate on the Principal Balance of such Mortgage Loan as of the first day of such Interest
Accrual Period. The Certificate Administrator Fee will be calculated on the same interest accrual basis as the Mortgage Loans.
The Certificate Administrator Fee includes the Trustee Fee.

 

“Certificate
Administrator Fee Rate”: A rate equal to 0.0085% per annum on each Mortgage Loan.

 

“Certificate
Administrator’s Website”: The internet website of the Certificate Administrator, initially located at www.ctslink.com.

 

“Certificate
Balance”: With respect to any Class of Certificates (other than the Class X or Class R Certificates) (a) on
or prior to the first Distribution Date, an amount equal to the aggregate initial Certificate Balance of such Class, as specified
in the Preliminary Statement hereto, and (b) as of any date of determination after the first Distribution Date, the Certificate
Balance of such Class of Certificates on the Distribution Date immediately prior to such date of determination after application
of the distributions and allocation of Realized Losses or Additional Trust Fund Expenses made thereon on such prior Distribution
Date plus any Recovered Amounts allocated to such Class of Certificates in accordance with Section 1.04(c). The Certificate
Balance of any Class of Uncertificated Lower-Tier Interest will equal the Certificate Balance of the Related Certificates. Each
of the Class X and Class R Certificates will not have a Certificate Balance.

 

“Certificate
Principal Distribution Amount”: For any Distribution Date, is equal to (i) with respect to the Pooled Certificates,
the aggregate of the Principal Distribution Amounts of the Pooled Mortgage Loans, and (ii) with respect to the Loan Specific
Certificates, the aggregate Principal Distribution Amount for the related Non-Pooled Trust Notes.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained pursuant to Section 5.01(c) and
the registrar appointed pursuant to Section 5.02(a).

 

“Certificateholder”
or “Holder”: With respect to any Certificate, the Person in whose name a Certificate is registered in the Certificate
Register (including, solely for the purposes of providing, distributing or otherwise making available any reports, statements
or

 

    	-14-

    	 

    

 

other information pursuant to this Agreement, Beneficial Owners of Certificates to the extent the person providing, distributing
or making available such information has received an Investor Certification that such person is a Beneficial Owner); provided,
however, that solely for the purposes of giving any consent or taking any action (including, without limitation, selecting
or appointing a Directing Certificateholder) pursuant to this Agreement, any Certificate beneficially owned by the Depositor,
the Servicer, a Special Servicer, the Certificate Administrator, the Trustee, any Borrower Affiliate, any Restricted Holder, any
manager of a Mortgaged Property or any subservicers or Affiliate thereof shall be deemed not to be outstanding, and the Voting
Rights to which it is entitled shall, and the Certificate Balance of such Certificate shall, not be taken into account in determining
whether the requisite percentage of Voting Rights, and/or of the Certificate Balance of the Certificates or any Class of Certificates
necessary to effect any such consent or take any such action, has been obtained; provided that the foregoing limitation
shall not be construed so as to limit or prevent a Controlling Class Certificateholder or the Directing Certificateholder, solely
based on it being an Affiliate of a Special Servicer, from exercising any appointment, consent or consultation rights it may have
under this Agreement solely in its capacity as Controlling Class Certificateholder or Directing Certificateholder (unless, for
the avoidance of doubt, the Controlling Class Certificateholder or Directing Certificateholder is the Servicer, the Trustee, the
Certificate Administrator, any Borrower, a Restricted Holder, a manager of a Mortgaged Property, or any of the sub-servicers or
respective Affiliates or agents of the foregoing). For purposes of obtaining the consent of Certificateholders to an amendment
of this Agreement, any Certificates beneficially owned by the Depositor, the Servicer, a Special Servicer, the Trustee, the Certificate
Administrator, or an Affiliate of such parties will be deemed to be outstanding, provided that such amendment does not
relate to the termination of, increase in compensation or material reduction of obligations of the Depositor, the Servicer, either
Special Servicer, the Trustee, the Certificate Administrator, or any of their Affiliates, in which case such Certificate shall
be deemed not to be outstanding.

 

Notwithstanding
the foregoing, so long as there is no Servicer Termination Event with respect to the Servicer or a Special Servicer, the Servicer
and such Special Servicer or such Affiliate of any of them shall be entitled to exercise such Voting Rights with respect to any
issue which could reasonably be believed to adversely affect such party’s compensation or increase its obligations or liabilities
hereunder. The Certificate Administrator shall be entitled to request and rely upon a certificate of the Servicer, the applicable
Special Servicer or the Depositor in determining whether a Certificate is registered in the name of an Affiliate of such Person.
For the avoidance of doubt, no Borrower, Property Manager, Restricted Holder or any affiliate of any such person will be permitted
to exercise any rights of a Controlling Class Certificateholder or the Directing Certificateholder under this Agreement. All references
herein to “Holders” or “Certificateholders” shall reflect the rights of Beneficial Owners as they may
indirectly exercise such rights through the Depository and the Depository Participants, except as otherwise specified herein;
provided, however, that the parties hereto shall be required to recognize as a “Holder” or “Certificateholder”
only the Person in whose name a Certificate is registered in the Certificate Register. For the avoidance of doubt, no Borrower,
Manager or any Affiliate of any such Person shall be permitted to exercise any rights of a Controlling Class Certificateholder
or the Directing Certificateholder under this Agreement.

 

“Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of a Special Servicer, the
Certificateholders evidencing at least

 

    	-15-

    	 

    

 

66-2/3% of the aggregate Voting Rights (taking into account the application of any Appraisal
Reduction to notionally reduce the Certificate Balances of the Certificates) of all Pooled Principal Balance Certificates.

 

“Certifying
Person”: As defined in Section 12.11.

 

“Certifying
Servicer”: As defined in Section 12.07.

 

“Class”:
With respect to the Certificates, all of the Certificates bearing the same alphabetical class designation, and each of the Class
LT-R Interest, the Class UT-R Interest and each designated Uncertificated Lower-Tier Interest.

 

“Class A
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-1, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class A
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of
3.6332%.

 

“Class B
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-3, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class B
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.6332%.

 

“Class C
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-4, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class C
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Net WAC Rate.

 

“Class LA
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LB
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LC
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

    	-16-

    	 

    

 

“Class LPR-1
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LPR-2
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LSQ-1
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LSQ-2
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class LSQ-3
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
to this Agreement.

 

“Class
LT-R Interest”: The uncertificated residual interest in the Lower-Tier REMIC, represented by the Class R Certificates.

 

“Class PR-1
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-6, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class PR-1
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.6332%.

 

“Class PR-2
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-7, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class PR-2
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.6332%.

 

“Class R
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-5. The Class R Certificates
have no Pass-Through Rate, Certificate Balance or Notional Amount.

 

    	-17-

    	 

    

 

“Class SQ-1
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-8, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class SQ-1
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.6332%.

 

“Class SQ-2
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-9, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class SQ-2
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.6332%.

 

“Class SQ-3
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-10, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class SQ-3
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.6332%.

 

“Class UT-R
Interest”: The uncertificated residual interest in the Upper-Tier REMIC, represented by the Class R Certificates.

 

“Class
X Strip Rate”: For each of the Class A, Class B and Class C Certificates for any Distribution Date shall equal the excess
of (i) the Net WAC Rate for such Distribution Date over (ii) the Pass-Through Rate of such Class of Certificates.

 

“Class X
Certificate”: Any one of the Certificates executed by the Certificate Administrator and authenticated by the Authenticating
Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-2, together with any other Certificate
issued in substitution or replacement thereof pursuant to Article V.

 

“Class X
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal the weighted average of the
Class X Strip Rates for the Class A, Class B and Class C Certificates (weighted on the basis of the Certificate Balances of such
Classes, in each case, outstanding immediately prior to the related Distribution Date).

 

“Clearing
Agency”: An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange
Act.

 

“Clearing
Agency Participants”: A broker, dealer, bank, other financial institution or other Person for whom from time to time
a Clearing Agency effects book entry transfers and pledges of securities deposited with the Clearing Agency.

 

    	-18-

    	 

    

 

“Clearstream”:
Clearstream Banking, société anonyme, or its successor in such capacity.

 

“Closing
Date”: July 24, 2015.

 

“Code”:
The Internal Revenue Code of 1986, as amended from time to time, any successor statute thereto, and any temporary or final regulations
of the United States Department of the Treasury promulgated pursuant thereto.

 

“Collection
Account”: The trust account or accounts created and maintained by the Servicer pursuant to Section 3.05(a),
which shall be entitled “KeyBank National Association, on behalf of Wells Fargo Bank, National Association, as Trustee,
for the benefit of Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG Collection Account” and which must be an Eligible Account.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion
Loan”: As defined in the Preliminary Statement.

 

“Companion
Loan Advance”: With respect to a Companion Loan that is part of an Other Securitization Trust, any advance of delinquent
scheduled payments with respect to such Companion Loan made by the master servicer or trustee with respect to such Other Securitization
Trust.

 

“Companion
Loan Holder”: The holder of a Companion Loan.

 

“Companion
Loan Rating Agency”: With respect to a Companion Loan, any rating agency that was engaged by a participant in the securitization
of such Companion Loan to assign a rating to the related Companion Loan Securities.

 

“Companion
Loan Rating Agency Confirmation”: With respect to any matter involving the servicing and administration of a Companion
Loan as to which any Companion Loan Securities exist, confirmation in writing (which may be in electronic form) by each applicable
Companion Loan Rating Agency that a proposed action, failure to act or other event so specified shall not, in and of itself, result
in the downgrade, withdrawal or qualification of the then current rating assigned to any class of such Companion Loan Securities
(if then rated by such Companion Loan Rating Agency); provided that upon receipt of a written waiver or other acknowledgment
from a Companion Loan Rating Agency indicating its decision not to review or declining to review the matter for which the Companion
Loan Rating Agency Confirmation is sought (such written notice, a “Companion Loan Rating Agency Declination”),
or as otherwise provided in Section 3.31 of this Agreement, the requirement for the Companion Loan Rating Agency Confirmation
from the applicable Companion Loan Rating Agency with respect to such matter shall not apply.

 

“Companion
Loan Securities”: Any commercial mortgage-backed securities that evidence an interest in or are secured by the assets
of an Other Securitization Trust, which assets include a Companion Loan (or a portion thereof or interest therein).

 

    	-19-

    	 

    

 

“Compensating
Interest”: With respect to the Mortgage Loans for any Distribution Date, an amount required to be deposited by the Servicer
into the Collection Account pursuant to Section 3.12(a), equal to the amount of any Prepayment Interest Shortfalls
arising with respect to a non-Specially Serviced Mortgage Loan resulting from voluntary prepayments where the Servicer waives
a requirement to pay interest through the end of the related Mortgage Loan Interest Accrual Period during any Due Period (unless
such waiver (A) is required because of a court order or applicable law, (B) is in connection with Insurance or Condemnation Proceeds
or (C) is at the request or with the consent of the applicable Special Servicer); provided that the Compensating Interest
for any Distribution Date shall not exceed the lesser of (i) the total amount of such Prepayment Interest Shortfalls allocated
to the related Mortgage Loan, and (ii) with respect to each Mortgage Loan for which the Servicer receives its Servicing Fees
during such Due Period, the portion of such Servicing Fees calculated, in each case, at an annual rate of 0.0025% per annum.

 

“Condemnation
Proceeds”: Any awards resulting from the full or partial condemnation or any eminent domain proceeding or any conveyance
in lieu or in anticipation thereof with respect to a Mortgaged Property or REO Property by or to any governmental or quasi-governmental
authority other than amounts to be applied to the restoration, preservation or repair of such Mortgaged Property or REO Property
or released to the related Borrower in accordance with the terms of the related Mortgage Loan documents.

 

“Consultation
Termination Event”: A Consultation Termination Event shall occur with respect to each Directing Certificateholder and
the related Mortgage Loan, when there is no Class of related Loan Specific Certificates that has a then outstanding Certificate
Balance at least equal to 25% of the initial Certificate Balance of that Class, without regard to the application of any Appraisal
Reductions. Upon the occurrence of a Consultation Termination Event, no Class of Loan Specific Certificates for the related Mortgage
Loan shall be entitled to appoint a Directing Certificateholder for such Mortgage Loan or have any rights hereunder to consent
to or consult on actions of the Servicer or the related Special Servicer with respect to such Mortgage Loan; provided,
that with respect to the Pearlridge Mortgage Loan, a Consultation Termination Event shall be in effect until a Control Enabling
Event has occurred with respect to one or more Classes of related Loan Specific Certificates.

 

“Control
Enabling Event”: An event that will be deemed to have occurred with respect to a Class of Pearlridge Loan Specific Certificates
upon the earliest of (i) the sale of the majority of the Certificate Balance of such Class of Pearlridge Loan Specific Certificates
to Persons that are unaffiliated with J.P. Morgan Chase Bank, National Association and German American Capital Corporation and
(ii) receipt of a notice from J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. to the Trustee and Certificate Administrator
that a Control Enabling Event is to be deemed to have occurred.

 

“Control
Event”: Shall be deemed to have occurred and be continuing (A) with respect to a Class of Loan Specific Certificates
if (i) the initial Certificate Balance of the Class of Loan Specific Certificates, as reduced (without duplication) by (x) any
payments of principal (whether as scheduled amortization, principal prepayments or otherwise) paid and received on such Class
of Loan Specific Certificates, (y) any Appraisal Reduction then allocated to such Class of Loan Specific Certificates, and
(z) any Loan Specific Realized Losses previously

 

    	-20-

    	 

    

 

allocated to such Class of Loan Specific Certificates, is less than (ii) 25%
of the initial aggregate Certificate Balance of such Class of Loan Specific Certificates, as reduced by any payments of principal
(whether as scheduled amortization, principal prepayments or otherwise) paid and received on such Class of Loan Specific Certificates,
and (B) with respect to a Mortgage Loan, if a Control Event exists with respect to all related Classes of Loan Specific Certificates;
provided, that with respect to the Pearlridge Mortgage Loan, a Control Event shall be in effect until a Control Enabling
Event has occurred with respect to one or more Classes of related Loan Specific Certificates.

 

“Controlling
Class”: For each Mortgage Loan shall be the most subordinate Class of related Loan Specific Certificates with respect
to which a Control Event has not occurred, or if no Class of related Loan Specific Certificates satisfies the foregoing requirement,
the Controlling Class will be the senior-most Class of related Loan Specific Certificates. After the occurrence and during the
continuance of a Control Event with respect to the senior-most Class of Loan Specific Certificates with respect to the related
Mortgage Loan, the Directing Certificateholder appointed by such Class shall only be entitled to exercise consultation rights
to the extent specifically provided for in hereunder.

 

“Controlling
Class Certificateholder”: Each Holder (or Beneficial Owner, if applicable) of a Certificate of the Controlling Class
as determined by the Certificate Registrar, from time to time, upon request by any party hereto. The Trustee, the Servicer or
a Special Servicer may from time to time request (the cost of which being an expense of the Trust) that the Certificate Administrator
provide a list of the Holders (or Beneficial Owners, if applicable) of the Controlling Class and the Certificate Administrator
shall promptly provide such list without charge to such Trustee, Servicer or such Special Servicer, as applicable. The Trustee,
the Servicer and the Special Servicers shall be entitled to rely on any such list so provided. Notwithstanding the foregoing,
for purposes of determining the Directing Certificateholder, exercising any rights of the Controlling Class or the Directing Certificateholder
or receiving Asset Status Reports or any other information under this Agreement other than Distribution Date Statements, any holder
of any interest in a Controlling Class Certificate who is a Borrower Affiliate, the Manager or an agent or Affiliate of the foregoing,
or is a Restricted Holder, shall not be deemed to be a holder of the related Controlling Class and shall not be entitled to exercise
such rights or receive such information. If, as a result of the preceding sentence, no holder of Controlling Class Certificates
would be eligible to exercise such rights, there shall be no Controlling Class or Directing Certificateholder.

 

“Corporate
Trust Office”: With respect to the Trustee and the Certificate Administrator, the corporate trust office of Wells Fargo
Bank, National Association initially located at 9062 Old Annapolis Road, Columbia Maryland 21045-1591, Attention: Corporate Trust
Services, CMBS – WP Glimcher Mall Trust 2015-WPG, or the principal trust office of any successor trustee qualified and appointed
pursuant to this Agreement; and (b)  for certificate transfer services, at Wells Fargo Center, Sixth Street and Marquette
Avenue, Minneapolis, Minnesota 55479, Attention: Certificate Transfers (CMBS) WP Glimcher Mall Trust 2015-WPG, or the principal
trust office of any successor certificate administrator qualified and appointed pursuant to this Agreement.

 

    	-21-

    	 

    

 

“CREFC®”:
CRE Finance Council, or any association or organization that is a successor thereto. If neither such association nor any successor
remains in existence, “CREFC®” shall be deemed to refer to such other association or organization as
may exist whose principal membership consists of servicers, trustees, issuers, placement agents and underwriters generally involved
in the commercial mortgage loan securitization industry, which is the principal such association or organization in the commercial
mortgage loan securitization industry and one of whose principal purposes is the establishment of industry standards for reporting
transaction specific information relating to commercial mortgage pass-through certificates and commercial mortgage backed bonds
and the commercial mortgage loans and foreclosed properties underlying or backing them to investors holding or owning such certificates
or bonds, and any successor to such other association or organization. If an organization or association described in one of the
preceding sentences of this definition does not exist, “CREFC®” shall be deemed to refer to such other
association or organization as shall be reasonably acceptable to the Depositor, the Servicer, the Special Servicers, the Certificate
Administrator, and the Trustee.

 

“CREFC®
Advance Recovery Report”: The monthly report substantially in the form of, and containing the information called
for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be approved by the CREFC® for commercial mortgage securities transactions generally and, insofar as
it requires the presentation of information in addition to that called for by the form of the “Advance Recovery Report”
available as of the Closing Date on the CREFC® Website, is reasonably acceptable to the Servicer.

 

“CREFC®
Appraisal Reduction Template”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Appraisal Reduction Template” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Bond Level File”: The monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Bond Level File” available as of the Closing Date on the CREFC® Website,
or such other form for the presentation of such information and containing such additional information as may from time to time
be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable
to the Certificate Administrator.

 

“CREFC®
Collateral Summary File”: The report substantially in the form of, and containing the information called for in,
the downloadable form of the “Collateral Summary File” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Certificate Administrator.

 

“CREFC®
Comparative Financial Status Report”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Comparative Financial Status Report” available as of the Closing Date on the
CREFC®

 

    	-22-

    	 

    

 

Website, or such other form for the presentation of such information as may from time to time be recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer
and the Special Servicers.

 

“CREFC®
Delinquent Loan Status Report”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Delinquent Loan Status Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer and the Special Servicers.

 

“CREFC®
Financial File”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Financial File” available as of the Closing Date on the CREFC® Website, or such other
form for the presentation of such information and containing such additional information as may from time to time be recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer.

 

“CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and
containing the information called for in, the downloadable form of the “Historical Bond/Collateral Realized Loss Reconciliation
Template” available and effective from time to time on the CREFC® Website.

 

“CREFC®
Historical Liquidation Loss Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Historical Liquidation Loss Template” available and effective from time to time
on the CREFC® Website.

 

“CREFC®
Historical Loan Modification/Forbearance and Corrected Mortgage Loan Report”: A report substantially in the form
of, and containing the information called for in, the downloadable form of the “Historical Loan Modification/Forbearance
and Corrected Mortgage Loan Report” available as of the Closing Date on the CREFC® Website, or such other
form for the presentation of such information and containing such additional information as may from time to time be recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer
and the Special Servicers.

 

“CREFC®
Intellectual Property Royalty License Fee”: With respect to each Mortgage Loan and REO Mortgage Loan and for any
Distribution Date, an amount accrued during the related Mortgage Loan Interest Accrual Period at the CREFC® Intellectual
Property Royalty License Fee Rate on the outstanding Principal Balance of such Mortgage Loan or REO Mortgage Loan as of the close
of business on the Distribution Date in such Mortgage Loan Interest Accrual Period; provided that such amounts shall be
computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed
due on the related Mortgage Loan or REO Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance
of doubt, the CREFC® Intellectual Property Royalty License Fee shall be deemed payable by the Servicer from the
Lower-Tier REMIC.

 

    	-23-

    	 

    

 

“CREFC®
Intellectual Property Royalty License Fee Rate”: With respect to each Mortgage Loan, a rate equal to 0.0005% per
annum.

 

“CREFC®
Interest Shortfall Reconciliation Template”: A report substantially in the form of, and containing the information
called for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available and effective from
time to time on the CREFC® Website.

 

“CREFC®
Investor Reporting Package”: The collection of reports specified by the CREFC® from time
to time as the “CREFC® Investor Reporting Package.” As of the Closing Date, the CREFC®
Investor Reporting Package contains:

 

                                (i)           the following seven electronic files: (i) CREFC®
Bond Level File, (ii) CREFC® Collateral Summary File, (iii) CREFC® Property File,
(iv) CREFC® Loan Periodic Update File, (v) CREFC® Loan Setup File, (vi) CREFC®
Financial File, and (vii) CREFC® Special Servicer Loan File; and

 

                                (ii)         
the following nineteen supplemental reports and disclosure templates: (i) CREFC® Comparative Financial Status
Report, (ii) CREFC® Delinquent Loan Status Report, (iii) CREFC® Historical Loan Modification/Forbearance
and Corrected Mortgage Loan Report, (iv) CREFC® Operating Statement Analysis Report, (v) CREFC®
NOI Adjustment Worksheet, (vi) CREFC® REO Status Report, (vii) CREFC® Servicer Watch
List, (viii) CREFC® Loan Level Reserve LOC Report, (ix) CREFC® Advance Recovery Report,
(x) CREFC® Total Loan Report, (xi) CREFC® Appraisal Reduction Template, (xii) CREFC® Servicer
Realized Loss Template, (xiii) CREFC® Reconciliation of Funds Template, (xiv) CREFC® Historical
Bond/Collateral Realized Loss Reconciliation Template, (xv) CREFC® Historical Liquidation Loss Template, (xvi)
CREFC® Interest Shortfall Reconciliation Template, (xvii) CREFC® Loan Liquidation Report, (xviii)
CREFC® Servicer Remittance to Certificate Administrator Template, and (xix) CREFC® Significant Insurance
Event Report Template, as such reports may be amended, updated or supplemented from time to time.

 

The
CREFC® Investor Reporting Package shall be substantially in the form of, and containing the information
called for in, the downloadable forms of the “CREFC® IRP” available as of the Closing Date on
the CREFC® Website, or such other form for the presentation of such information and containing such additional
information or reports as may from time to time be approved by the CREFC® for commercial mortgage backed
securities transactions generally. For the purposes of the production of the CREFC® Comparative Financial
Status Report by the Servicer or the applicable Special Servicer of any such report that is required to state information for
any period prior to the Closing Date, the Servicer or such Special Servicer, as the case may be, may conclusively rely (without
independent verification), absent manifest error, on information provided to it by the Mortgage Loan Seller or by the related
Borrower or (x) in the case of such a report produced by the Servicer, by the applicable Special Servicer (if other than
the Servicer or an Affiliate thereof) and (y) in the case of such a report produced by the applicable Special Servicer, by
the Servicer (if other than such Special Servicer or an Affiliate thereof).

 

    	-24-

    	 

    

  

“CREFC®
License Agreement”: The License Agreement, in the form set forth on the website of CREFC® on the
Closing Date, relating to the use of the CREFC® trademarks and trade names.

 

“CREFC®
Loan Level Reserve LOC Report”: The monthly report substantially in the form of, and containing the information
called for in, the downloadable form of the “Loan Level Reserve LOC Report” available as of the Closing Date on the
CREFC® Website, or such other form for the presentation of such information and containing such additional information
as may from time to time be recommended by the CREFC® for commercial mortgage securities transactions generally
and is reasonably acceptable to the Servicer.

 

“CREFC®
Loan Liquidation Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Liquidation Report” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Loan Periodic Update File”: The monthly report substantially in the form of, and containing the information called
for in, the downloadable form of the “Loan Periodic Update File” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer, the Special Servicers and the Certificate Administrator.

 

“CREFC®
Loan Setup File”: The report substantially in the form of, and containing the information called for in, the downloadable
form of the “Loan Setup File” available as of the Closing Date on the CREFC® Website, or such other
form for the presentation of such information and containing such additional information as may from time to time be recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer,
the Special Servicers and the Certificate Administrator.

 

“CREFC®
NOI Adjustment Worksheet”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Commercial NOI Adjustment Worksheet” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is acceptable
to the Servicer or the applicable Special Servicer, as applicable, and in any event, shall present the computations made in accordance
with the methodology described in such form to “normalize” the full year net operating income and debt service coverage
numbers used in the other reports required by this Agreement.

 

“CREFC®
Operating Statement Analysis Report”: A report prepared with respect to each Mortgaged Property and/or in the
aggregate for the portfolio of Mortgaged Properties (depending on whether the loan parties deliver the related financial statements
and operating statements on a per-property basis or an aggregate basis) substantially in the form of, and

 

    	-25-

    	 

    

 

containing the information
called for in, the downloadable form of the “Commercial Operating Statement Analysis Report” available as of the Closing
Date on the CREFC® Website or in such other form for the presentation of such information and containing such additional
information as may from time to time be recommended by the CREFC® for commercial mortgage securities transactions
generally and is reasonably acceptable to the Servicer and the Special Servicers.

 

“CREFC®
Property File”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Property File” available as of the Closing Date on the CREFC® Website, or such other form
for the presentation of such information and containing such additional information as may from time to time be recommended by
the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer
and the Special Servicers.

 

“CREFC®
Reconciliation of Funds Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Reconciliation of Funds Template” available and effective from time to time
on the CREFC® Website, or such other form for the presentation of such information and containing such additional
information as may from time to time be recommended by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
REO Status Report”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “REO Status Report” available as of the Closing Date on the CREFC® Website, or in such
other form for the presentation of such information and containing such additional information as may from time to time be recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer
and the Special Servicers.

 

“CREFC®
Servicer Realized Loss Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Servicer Realized Loss Template” available and effective from time to time on
the CREFC® Website.

 

“CREFC®
Servicer Remittance to Certificate Administrator Template”: A report substantially in the form of, and containing
the information called for in, the downloadable form of the “Servicer Remittance to Certificate Administrator Template”
available and effective from time to time on the CREFC® Website, or such other form for the presentation of such
information and containing such additional information as may from time to time be recommended by the CREFC® for
commercial mortgage securities transactions generally.

 

“CREFC®
Servicer Watch List”: For any Determination Date, a report substantially in the form of, and containing the information
called for in, the downloadable form of the “Servicer Watch List” available as of the Closing Date on the CREFC®
Website, or in such other final form for the presentation of such information and containing such additional information
as may from time to time be promulgated as recommended by the CREFC® for commercial mortgage securities transactions
generally and, insofar as it requires the presentation of information in addition to that called for by the form of the “Servicer
Watch List” available as of the Closing Date on the CREFC® Website, is reasonably acceptable to the Servicer.

  

    	-26-

    	 

    

  

“CREFC®
Significant Insurance Event Report Template”: A report substantially in the form of, and containing the information
called for in, the downloadable form of the “Significant Insurance Event Report Template” available and effective
from time to time on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information as may from time to time be recommended by the CREFC® for commercial mortgage securities
transactions generally.

 

“CREFC®
Special Servicer Loan File”: The monthly report substantially in the form of, and containing the information called
for in, the downloadable form of the “Special Servicer Loan File” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer and the Special Servicers.

 

“CREFC®
Total Loan Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Total Loan Report” available as of the Closing Date on the CREFC® Website,
or in such other form for the presentation of such information and containing such additional information as may from time to
time be adopted by the CREFC® for commercial mortgage-backed securities transactions and is reasonably acceptable
to the Servicer.

 

“CREFC®
Website”: The CREFC®’s Internet website located at “www.crefc.org” or such other
primary Internet website as the CREFC® may establish for dissemination of its report forms.

 

“Custodial
Agreement”: The Custodial Agreement, if any, from time to time in effect between the Custodian named therein and the
Certificate Administrator pursuant to Section 3.21, as the same may be amended or modified from time to time in accordance
with the terms thereof.

 

“Custodian”:
Any Custodian appointed pursuant to Section 3.21. The Custodian may (but need not) be the Certificate Administrator,
the Trustee or the Servicer or any Affiliate of the Certificate Administrator, the Trustee or the Servicer, but may not be the
Depositor or any Affiliate of the Depositor. The Certificate Administrator will be the initial Custodian.

 

“Debt
Service Reduction Amount”: With respect to a Payment Date and the related Determination Date, the amount of the reduction
of the Scheduled Monthly Payment that a Borrower is obligated to pay on such Payment Date with respect to a Mortgage Loan as a
result of any proceeding under bankruptcy law or any similar proceeding; provided, however, that in the case of
an amount that is deferred, but not forgiven, such reduction shall include only the net present value (calculated at the related
Mortgage Rate) of the reduction.

 

“Default
Interest”: With respect to any Mortgage Loan, interest accrued on such Mortgage Loan at the excess of the Default Rate
over the related Mortgage Rate.

 

“Default
Rate”: With respect to each Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan
following any Mortgage Event of Default on such Mortgage Loan, including without limitation, a default in the payment of a Scheduled
Monthly

 

    	-27-

    	 

    

 

Payment or a Balloon Payment, as such rate is set forth in the related Mortgage Loan Documents.

 

“Defaulted
Mortgage Loan”: A Mortgage Loan (i) that is delinquent at least sixty days in respect of its Scheduled Monthly
Payments or more than sixty days delinquent in respect of its Balloon Payment, if any, in either case such delinquency to be determined
without giving effect to any grace period permitted by the related Mortgage or Note and without regard to any acceleration of
payments under the related Mortgage and Note or (ii) as to which the Servicer or the applicable Special Servicer has, by
written notice to the related Borrower, accelerated the maturity of the indebtedness evidenced by the related Note.

 

“Defect”:
As defined in Section 2.02(a).

 

“Definitive
Certificates”: Certificates issued in definitive physical form.

 

“Denomination”:
As defined in Section 5.01(a).

 

“Deposit
Bank”: The bank that administers the Borrower Accounts in accordance with the related Mortgage Loan Documents under
any Mortgage Loan.

 

“Depositor”:
J.P. Morgan Chase Commercial Mortgage Securities Corp., a Delaware corporation, and its successors and assigns.

 

“Depository”:
The Depository Trust Company or a successor appointed by the Certificate Registrar (which appointment shall be at the direction
of the Depositor if the Depositor is legally able to do so).

 

“Depository
Participant”: A Person for whom, from time to time, the Depository effects book entry transfers and pledges of securities
deposited with the Depository.

 

“Determination
Date”: With respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs
or, if such day is not a Business Day, the immediately succeeding Business Day.

 

“Directing
Certificateholder”: With respect to each Mortgage Loan, the Certificateholder (or its representative) selected by Certificateholders
representing more than 50% of the Certificate Balance of the related Controlling Class, as identified by written notice with contact
information to the Certificate Administrator from time to time hereunder. After the occurrence of a Consultation Termination Event
with respect to a Mortgage Loan, there will be no Directing Certificateholder with respect to that Mortgage Loan.

 

On
the Closing Date, J.P. Morgan Securities LLC is the Holder of 60% of the Certificate Balance and Deutsche Bank Securities Inc.
is the Holder of 40% of the Certificate Balance of the (a) Class PR-1 Certificates and (b) Class PR-2 Certificates and
therefore a related Control Enabling Event has not yet occurred on the Closing Date. The Certificate Administrator and the other
parties to this Agreement shall be entitled to assume that there is no Controlling Class Certificateholder until a related Control
Enabling Event is deemed to occur and the Certificate Administrator receives notice of a Directing Certificateholder for the related

 

    	-28-

    	 

    

 

Mortgage Loan. Any such notice shall be via email to the Certificate Administrator at trustadministrationgroup@wellsfargo.com.

 

“Directly
Operate”: With respect to any REO Property, the furnishing or rendering of services to the tenants thereof that are
not customarily provided to tenants in connection with the rental of space for occupancy only within the meaning of Treasury Regulations
Section 1.512(b)-1(c)(5), the management or operation of such REO Property, the holding of such REO Property primarily for
sale to customers in the ordinary course of a trade or business, any use of such REO Property in a trade or business conducted
by the Trust, or the performing of any construction work on the REO Property other than through an Independent Contractor; provided,
however, that the applicable Special Servicer, on behalf of the Trust, shall not be considered to Directly Operate an REO
Property solely because such Special Servicer, on behalf of the Trust, establishes rental terms, chooses tenants, enters into
or renews leases, deals with taxes and insurance, makes decisions as to repairs or capital expenditures with respect to such REO
Property or takes other actions consistent with Treasury Regulations Section 1.856-4(b)(5)(ii).

 

“Disclosure
Parties”: As defined in Section 8.14(b).

 

“Disqualified
Non-U.S. Person”: With respect to the Residual Certificates, any Non-U.S. Person or agent thereof other than (i) a
Non-U.S. Person that holds a Residual Certificate in connection with the conduct of a trade or business within the United States
and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a
Non-U.S. Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized
tax counsel to the effect that the transfer of a Residual Certificate to it is in accordance with the requirements of the Code
and the regulations promulgated thereunder and that such transfer of the Residual Certificate will not be disregarded for federal
income tax purposes under Treasury Regulations Section 1.860G-3.

 

“Disqualified
Organization”: Either (a) the United States, a State, or any agency or instrumentality of any of the foregoing
(other than an instrumentality that is a corporation if all of its activities are subject to tax and, except for the Federal Home
Loan Mortgage Corporation, a majority of its board of directors is not selected by any such governmental unit), (b) a foreign
government, international organization or agency or instrumentality of either of the foregoing, (c) an organization that
is exempt from tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the Code on unrelated
business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect to the Class R
Certificate (except certain farmers’ cooperatives described in Section 521 of the Code), (d) rural electric and telephone
cooperatives described in Section 1381(a)(2) of the Code, or (e) any other Person so designated by the Certificate Administrator
based upon an Opinion of Counsel to the effect that any transfer to such Person may cause either Trust REMIC to fail to qualify
as a REMIC at any time that the Certificates are outstanding.  The terms “United States,” “State”
and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.

 

“Distribution
Account”: A trust account or subaccount created and maintained as a separate trust account or subaccount by the Certificate
Administrator pursuant to

 

    	-29-

    	 

    

 

Section 3.05(f), which shall be entitled, “Wells Fargo Bank, National Association,
as Certificate Administrator, for the benefit of the Trustee and the Holders of WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage
Pass-Through Certificates, Series 2015-WPG, Distribution Account” and which must be an Eligible Account or subaccount of
an Eligible Account.

 

“Distribution
Date”: The 4th Business Day after the Determination Date, commencing in August 2015.

 

“Distribution
Date Statement”: A monthly distribution statement prepared by the Certificate Administrator pursuant to Section 4.02(a).

 

“Domestic
Global Certificate”: Any of the single, permanent global certificates that represents the Regular Certificates sold
in reliance on Rule 144A.

 

“DTC”:
The Depository Trust Company.

 

“Due
Period”: With respect to any Distribution Date, the period commencing on and including the date immediately following
the Determination Date relating to the immediately preceding Distribution Date and ending on and including the Determination Date
relating to such Distribution Date.

 

“Eligible
Account”: A separate and identifiable account from all other funds held by the holding institution that is either (a) an
account or accounts maintained with a federal or state-chartered depository institution or trust company which complies with the
definition of Eligible Institution or (b) a segregated trust account or accounts maintained with a federal or state chartered
depository institution or trust company acting in its fiduciary capacity which, in the case of a state chartered depository institution
or trust company, is subject to regulations substantially similar to 12 C.F.R. §9.10(b), having in either case a combined
capital and surplus of at least $50,000,000.00 and subject to supervision or examination by federal or state authority, as applicable.
An Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument.

 

“Eligible
Institution”: (a) A depository institution or trust company insured by the Federal Deposit Insurance Corporation, the
short term unsecured debt obligations or commercial paper of which are rated at least “A-1” by S&P (or “A-2”
by S&P if the long-term unsecured debt obligations of which are rated at least “BBB” by S&P) and the equivalent
rating by Morningstar (if then rated by Morningstar) or such other rating confirmed in a Rating Agency Confirmation in the case
of letters of credit or accounts in which funds are held for 30 days or less or, in the case of accounts in which funds are held
for more than 30 days, the long-term unsecured debt obligations of which are rated at least “BBB+” by S&P and
the equivalent rating by Morningstar (if then rated by Morningstar) or such other rating confirmed in a Rating Agency Confirmation;
or (b) Wells Fargo Bank, National Association, so long as it meets the eligibility standards of the Certificate Administrator
pursuant to Section 8.06 of this Agreement; (c) KeyBank National Association, provided that (i) the short term
debt obligations, deposits or commercial paper of KeyBank National Association are rated at least “A-2” by S&P
and the equivalent by Morningstar (if then rated by Morningstar) in the case of letters of credit or accounts in which funds are
held for thirty (30) days or less and, (ii) the long-term unsecured 

 

    	-30-

    	 

    

  

debt obligations or deposits of which are rated at least “BBB+”
by S&P and the equivalent by Morningstar (if then rated by Morningstar) in the case of letters of credit or accounts in which
funds are held for more than thirty (30) days; or (d) an account maintained with any other insured depository institution that
is the subject of a Rating Agency Confirmation, from the Rating Agency for which the minimum rating is not met, with respect to
any account listed in the clauses above, or from each Rating Agency, with respect to any account other than one listed in the
clauses above.

 

“Environmental
Report”: The environmental audit report or reports with respect to each Mortgaged Property delivered to the Mortgage
Loan Sellers in connection with the related Mortgage.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as it may be amended from time to time.

 

“ERISA
Restricted Certificate”: Any Class PR-2, Class SQ-2 and Class SQ-3 Certificate; provided that any such Certificate:
(a) will cease to be considered an ERISA Restricted Certificate and (b) will cease to be subject to the transfer restrictions
contained in Section 5.02(m) of this Agreement if, as of the date of a proposed transfer of such Certificate, either
(i) it is rated in one of the four highest generic ratings categories by a Rating Agency or (ii) relevant provisions
of ERISA would permit the transfer of such Certificate to a Plan.

 

“Escrow
Account”: A segregated custodial account established by the Servicer to hold all funds collected and received by it
pursuant to any Mortgage Loan constituting Escrow Payments separate and apart from its own funds and general assets pursuant to
Section 3.04(b). Any Escrow Account may be a subaccount of the related Cash Collateral Account.

 

“Escrow
Payment”: Any payment made by any Borrower to the Servicer pursuant to the related Mortgage, Cash Collateral Account
Agreement, Lock Box Agreement or Loan Agreement for the account of such Borrower for application toward the payment of taxes,
insurance premiums, assessments and similar items in respect of the related Mortgaged Property.

 

“Euroclear”:
Euroclear Banking, société anonyme, or its successor in such capacity.

 

“Excess
Modification Fees”: With respect to any Mortgage Loan, the sum of (A) the excess, if any, of (i) any and all
Modification Fees with respect to a modification, waiver, extension or amendment of any of the terms of a Mortgage Loan or the
related Companion Loans, over (ii) all unpaid or unreimbursed additional expenses (including, without limitation, reimbursement
of Advances and Advance Interest Amounts to the extent not otherwise paid or reimbursed by the Borrower but excluding Special
Servicing Fees, Workout Fees and Liquidation Fees) outstanding or previously incurred on behalf of the Trust with respect to the
related Mortgage Loan or the related Companion Loans and reimbursed from such Modification Fees and (B) expenses previously
paid or reimbursed from Modification Fees as described in the preceding clause (A), which expenses have been recovered
from the related Borrower or otherwise.

 

    	-31-

    	 

    

 

“Excess
Prepayment Interest Shortfall”: With respect to any Mortgage Loan and any Distribution Date, the shortfall that results
when the amount of any Prepayment Interest Shortfall allocable in respect of such Mortgage Loan exceeds the related Compensating
Interest allocated to such Mortgage Loan as of such Distribution Date. For the purpose of determining whether any Excess Prepayment
Interest Shortfall exists on a Mortgage Loan, Compensating Interest will be allocated pro rata among the Mortgage Loans
with Prepayment Interest Shortfalls in accordance with the amounts of such Prepayment Interest Shortfalls entitled to Compensating
Interest.

 

“Exchange
Act”: The Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Exemption”:
The prohibited transaction exemption issued by the United States Department of Labor to (i) JP Morgan Securities Inc., Prohibited
Transaction Exemption 2002-19, 67 Fed. Reg. 14,979 (March 28, 2002) and (ii) Deutsche Bank Securities Inc., Final Authorization
Number 97-03E (December 9, 1996), each as most recently amended by Prohibited Transaction Exemption 2013-08, 78 Fed. Reg. 41,090
(July 9, 2013), and as may be subsequently amended.

 

“Extended
Cure Period”: As set forth in the Mortgage Loan Purchase Agreement.

 

“FDIC”:
The Federal Deposit Insurance Corporation, or any successor thereto.

 

“Final
Asset Status Report”: With respect to any Specially Serviced Mortgage Loan, each related Asset Status Report, together
with such other data or supporting information provided by the applicable Special Servicer to the related Directing Certificateholder,
which does not include any communications (other than the related Asset Status Report) between such Special Servicer and the related
Directing Certificateholder with respect to such Specially Serviced Mortgage Loan; provided that no Asset Status Report
shall be considered to be a Final Asset Status Report unless, prior to a Control Event, the related Directing Certificateholder
has either finally approved of and consented to the actions proposed to be taken in connection therewith, or has exhausted all
of its rights of approval or consent or the Asset Status Report is otherwise implemented by such Special Servicer in accordance
with the terms of this Agreement.

 

“Final
Recovery Determination”: A reasonable determination by the applicable Special Servicer, prior to the occurrence of a
Consultation Termination Event in consultation with the related Directing Certificateholder, with respect to any defaulted Mortgage
Loan or Rehabilitated Mortgage Loan or REO Property (other than a Mortgage Loan or REO Property, as the case may be, that was
purchased by the Mortgage Loan Sellers pursuant to Section 2 of the Mortgage Loan Purchase Agreement, or by applicable Special
Servicer pursuant to Section 3.19) that there has been a recovery of all Insurance Proceeds, Condemnation Proceeds,
Liquidation Proceeds, REO Income and other payments or recoveries that, in the applicable Special Servicer’s judgment, which
judgment was exercised without regard to any obligation of the applicable Special Servicer to make payments from its own funds
pursuant to Section 3.08(b), will ultimately be recoverable. Prior to the occurrence and continuance of any Control
Event, the related Directing Certificateholder will have ten (10) Business Days to review and approve each such recovery determination
by the applicable Special Servicer (other than with respect to a

 

    	-32-

    	 

    

 

Mortgage Loan or REO Property, as the case may be, that was repurchased
by a Mortgage Loan Seller pursuant to the related Mortgage Loan Purchase Agreement, or by the applicable Special Servicer, the
related Directing Certificateholder or any mezzanine lender). However, if the related Directing Certificateholder fails to approve
or disapprove any recovery determination within ten (10) Business Days of receipt of the initial recovery determination, such
consent shall be deemed given.

 

“GACC”:
As defined in the Preliminary Statement.

 

“Global
Certificates”: As defined in Section 5.04(b) of this Agreement.

 

“Ground
Leases”: The Kamehameha Schools Ground Leases and the Territorial Savings Ground Lease.

 

“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. §§ 9601,
et seq., or any other U.S. environmental laws now 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
that would, if classified as unusable, be included in the foregoing definition.

 

“IAI”:
Institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D or any
entity in which all the equity holders fall within any such subsections.

 

“Indemnified
Party”: As defined in Section 8.05(c).

 

“Indemnifying
Party”: As defined in Section 8.05(c).

 

“Independent”:
When used with respect to any specified Person, any such Person who (i) does not have any direct financial interest, or any
material indirect financial interest, in any of the Depositor, the Mortgage Loan Sellers, the Certificate Administrator, the Trustee,
the Servicer, the Special Servicers, any Borrower or Manager or any Affiliate thereof, and (ii) is not connected with any
such Person thereof as an officer, employee, promoter, underwriter, trustee, partner, director, member or Person performing similar
functions.

 

“Independent
Contractor”: Either (i) any Person that would be an “independent contractor” with respect to the Trust
Fund within the meaning of Section 856(d)(3) of the Code if the Trust Fund were a real estate investment trust (except that
the ownership tests set forth in that section shall be considered to be met by any Person that owns, directly or indirectly, 35%
or more of any Class or 35% or more of the aggregate value of all Classes of Certificates), provided that the Trust
Fund does not receive or derive any income from such Person and the relationship between such Person and the Trust Fund is at
arm’s length, all within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except neither the Servicer nor
a Special Servicer shall be considered to be an Independent Contractor under the definition in this clause (i) unless
an Opinion of Counsel (at the expense of the party seeking to be deemed an Independent Contractor) addressed to the Servicer,
the Certificate Administrator and the Trustee has been

 

    	-33-

    	 

    

 

delivered to the Certificate Administrator and the Trustee to that effect)
or (ii) any other Person (including the Servicer and the Special Servicers) if the Servicer, on behalf of itself, the Certificate
Administrator and the Trustee, has received an Opinion of Counsel (at the expense of the party seeking to be deemed an Independent
Contractor) to the effect that the taking of any action in respect of any REO Property by such Person, subject to any conditions
therein specified, that is otherwise herein contemplated to be taken by an Independent Contractor will not cause such REO Property
to cease to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined
without regard to the exception applicable for purposes of Section 860D(a) of the Code) or cause any income realized in respect
of such REO Property to fail to qualify as Rents from Real Property (provided that such income would otherwise so qualify).

 

“Independent
Appraiser”: An Independent professional real estate appraiser who (i) is a member in good standing of the Appraisal
Institute, (ii) if the state in which a Mortgaged Property or REO Property is located certifies or licenses appraisers, is
certified or licensed in such state, and (iii) has a minimum of five (5) years’ experience in the appraisal of
comparable properties in the geographic area in which the applicable Mortgaged Property is located.

 

“Initial
Pass-Through Rate”: With respect to any Class of Certificates (other than the Class R Certificates), the initial Pass-Through
Rate for such Class, in each case as specified in the Preliminary Statement.

 

“Initial
Purchasers”: J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Drexel Hamilton, LLC.

 

“Inquiry”
and “Inquiries”: As each is defined in Section 4.06(a).

 

“Installment
Sale Agreement”: Each “Installment Sale Agreement” as defined in each Loan Agreement.

 

“Insurance
Policies”: Collectively, any “all risk” or fire and casualty extended coverage insurance policy, or flood
insurance policy, or title insurance policy relating to the Mortgage Loans or the related Mortgaged Properties, required to be
in effect as of the Closing Date or thereafter during the term of this Agreement.

 

“Insurance
Proceeds”: Amounts paid by the insurer under any Insurance Policy (and including any amounts paid by the Servicer (if
it self-insures) pursuant to Section 3.08).

 

“Interest
Accrual Amount”: With respect to any Distribution Date and any Class of Regular Certificates or Uncertificated Lower-Tier
Interests, an amount equal to interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class
on the Certificate Balance or Notional Amount of such Class, as applicable, outstanding immediately prior to such Distribution
Date, in each case, minus such Class’s allocable portion of any Excess Prepayment Interest Shortfalls with respect to such
Distribution Date. Interest on the Regular Certificates and the Uncertificated Lower-Tier Interests will be computed on the basis
of a 360-day year consisting of twelve 30 day months. For purposes of accruing interest and calculating Pass-Through Rates, the
Regular Certificates and each Class of Uncertificated Lower-Tier Interests will be deemed to have a Certificate Balance or Notional
Amount on the first day of the

 

    	-34-

    	 

    

 

Interest Accrual Period equal to the Certificate Balance or Notional Amount of such Class as of
the day immediately following the Distribution Date that occurs in the calendar month in which such Interest Accrual Period commences.
For purposes of accruing interest and calculating Pass-Through Rates, the Mortgage Loans will be deemed to have a Principal Balance
on the first day of the Interest Accrual Period equal to the Principal Balance of such Mortgage Loan as of the Payment Date of
such Mortgage Loan that occurs in the calendar month in which such Interest Accrual Period commences (after giving effect to all
payments received in respect of such Mortgage Loan on or before such Payment Date).

 

“Interest
Accrual Period”: With respect to any Distribution Date each Class of Regular Certificates and Uncertificated Lower-Tier
Interests, the Interest Accrual Period is the calendar month preceding the month in which the related Distribution Date occurs.

 

“Interest
Distribution Amount”: With respect to any Distribution Date for any Class of Regular Certificates or Uncertificated
Lower-Tier Interests is equal to the sum of (i) the Interest Accrual Amount for such Class on such Distribution Date and
(ii) any Interest Shortfalls for such Class on such Distribution Date.

 

“Interest
Reserve Account”: As defined in Section 3.05(g).

 

“Interest
Shortfall”: On any Distribution Date for any Class of Regular Certificates or Uncertificated Lower-Tier Interests is
the excess, if any, of (i) the Interest Distribution Amount for such Class for the immediately preceding Distribution Date,
over (ii) all distributions of interest made with respect to such Class on the immediately preceding Distribution Date.

 

“Interested
Person”: As of any date of determination, the Depositor, the Servicer, a Special Servicer, any Borrower, any manager
of a Mortgaged Property, any independent contractor engaged by a Special Servicer, any Directing Certificateholder, any Restricted
Holder, or any Person actually known to a Responsible Officer of the Certificate Administrator or the Trustee to be an Affiliate
of any one of them.

 

“Investment
Account”: As defined in Section 3.07(a).

 

“Investment
Company Act”: Investment Company Act of 1940, as amended.

 

“Investor
Certification”: A certificate representing that such Person executing the certificate is a Certificateholder, a beneficial
owner of a Certificate, a prospective purchaser of a Certificate, a Directing Certificateholder or a Mortgage Loan Seller repurchasing
a portion of a Mortgage Loan pursuant to Section 3.32(b), and that (i) such person is not a Borrower Affiliate, a Restricted
Holder, a manager of a Mortgaged Property, or an agent or affiliate of any of the foregoing, in which case such person will have
access to all the reports and information made available to Privileged Persons hereunder or (ii) such person is a Borrower Affiliate,
a Restricted Holder or a manager of a Mortgaged Property, or an agent or affiliate of the foregoing, in which case such person
will be permitted to receive access only to the Distribution Date Statements prepared by the Certificate Administrator, in each
case, as evidenced by such person’s execution and delivery of a certificate in the form of Exhibit L-1 (for
Non-Borrower Affiliates) or Exhibit L-2 (for Borrower Affiliates), as applicable, to the Certificate
Administrator.

 

    	-35-

    	 

    

 

“Investors”:
Each direct purchaser of the Certificates from an Initial Purchaser and each subsequent transferee thereof.

 

“IRS”:
The Internal Revenue Service.

 

“JPMCB”:
As defined in the Preliminary Statement.

 

“Kamehameha
Schools Ground Leases”: The ground leases created by six separate ground leases, each dated April 23, 2004 and each
between Watercress Associates, LP, LLLP, as lessee, and the Trustees of the Estate of Bernice Pauahi Bishop, as lessor, as affected
by that certain master ground lease administration agreement, dated April 23, 2004, between Watercress Associates, LP, LLLP and
the Trustees of the Estate of Bernice Pauahi Bishop, the assignment and assumption of lease, dated as of October 22, 2010, between
Watercress and the Pearlridge Borrower, and lessor’s consent to assignment of leases and master agreement, effective November
1, 2010, by the Trustees of the Estate of Bernice Pauahi Bishop.

 

“KeyBank”:
KeyBank National Association, and its successors-in-interest.

 

“Late
Collections”: With respect to any Whole Loan, Mortgage Loan or Companion Loan (as the case may be), all amounts received
during any Due Period, whether as late payments or as Liquidation Proceeds, Net Condemnation Proceeds, Net Insurance Proceeds
or otherwise, that represent late payments or collections of Scheduled Monthly Payments due (or Assumed Scheduled Monthly Payments
deemed due) or late collections of Balloon Payments due, but delinquent for a previous Due Period and not previously recovered.

 

“Liquidation
Expenses”: Expenses incurred by the Trustee, the Certificate Administrator, the Servicer or the applicable Special Servicer
in connection with the enforcement and liquidation of any Mortgage Loan or REO Property acquired in respect thereof, as applicable
(including, without limitation, legal fees and expenses, committee or referee fees, appraisal fees, property manager fees, environmental
site assessment fees, and, if applicable, brokerage commissions and conveyance taxes) and any Liquidation Fee for such Mortgage
Loan.

 

“Liquidation
Fee”: A fee with respect to each Specially Serviced Mortgage Loan as to which the applicable Special Servicer obtains
a full, partial or discounted payoff or unscheduled payments from the related Borrower and, except as otherwise described below,
with respect to any Specially Serviced Mortgage Loan or REO Property as to which the applicable Special Servicer receives any
Liquidation Proceeds, that is equal to the product of the Liquidation Fee Rate and the Net Liquidation Proceeds (other than any
portion thereof that represents a recovery of Default Interest); provided that any such Liquidation Fee shall be reduced
by any Excess Modification Fees received and retained by such Special Servicer but only to the extent those Excess Modification
fees have not previously been deducted from a Workout Fee or Liquidation Fee, and provided, further however,
that no Liquidation Fee shall be payable with respect to or in connection with:

 

                                (i)           the repurchase of any Mortgage Loan by the Mortgage
Loan Sellers for a material breach of representation or warranty or because of a material document defect, provided that
such repurchase occurs prior to the end of the Extended Cure Period; or

 

    	-36-

    	 

    

 

                                (ii)          any purchase of any Specially Serviced Mortgage Loan
or REO Property by the applicable Special Servicer or any Affiliate thereof.

 

“Liquidation
Fee Rate”: A rate equal to 0.50%.

 

“Liquidation
Proceeds”: The amounts received by the Servicer or the related Special Servicer in connection with the whole, partial
or discounted liquidation or discounted payoff of a Whole Loan or an REO Disposition, whether through judicial foreclosure, sale
(including without limitation a sale pursuant to exercise of a purchase option pursuant to Section 3.19) or otherwise,
including payments in connection with such Mortgage Loan received from the related Borrower or otherwise, including Net REO Income
to the extent that any Net REO Income is received in connection with the whole, partial or discounted liquidation of such Mortgage
Loan or such REO Disposition (other than amounts required to be paid to the related Borrower pursuant to the terms of the applicable
Mortgage or otherwise pursuant to law).

 

“Loan
Agreement”: With respect to any Mortgage Loan, the loan agreement, if any, between the Mortgage Loan Seller and the
Borrower, pursuant to which such Mortgage Loan was made.

 

“Loan
Number”: With respect to any Mortgage Loan, the loan number by which such Mortgage Loan was identified on the books
and records of the Mortgage Loan Seller or any sub-servicer for the Mortgage Loan Seller, as set forth in the Mortgage Loan Schedule.

 

“Loan
Specific Available Funds”: For any Distribution Date and the Loan Specific Certificates related to a Mortgage Loan shall
be the sum of (i) all previously undistributed Scheduled Monthly Payments or other receipts on account of principal and interest
on or in respect of the applicable Mortgage Loan (allocable to the Non-Pooled Trust Notes including, but not limited to, allocable
portions of Balloon Payments, Principal Prepayments, Net Liquidation Proceeds, Net Insurance Proceeds, Net Condemnation Proceeds
and Late Collections, but without duplication thereof) received by the Servicer during the related Due Period an in each case
to the extent allocable to the Non-Pooled Trust Notes for the applicable Mortgage Loan, plus (ii) the proceeds of any repurchase
of the applicable Mortgage Loan required to be repurchased by the Mortgage Loan Sellers or any purchase or repayment made by the
Mortgage Loan Sellers or applicable Special Servicer, and received by the Servicer during the related Due Period in respect of
the applicable Mortgage Loan, in each case, allocable to the Non-Pooled Trust Notes, plus (iii) all Monthly Advances made
by the Servicer or the Trustee, as applicable, on the applicable Mortgage Loan in respect of such Distribution Date allocable
to the Non-Pooled Trust Notes, plus (iv) amounts of Compensating Interest remitted by the Servicer to the Collection Account
in respect of Prepayment Interest Shortfalls allocable to the Non-Pooled Trust Notes occurring during the related Due Period,
plus (v) if such Distribution Date is the Distribution Date occurring in March of each year (or February, if such Distribution
Date is the final Distribution Date), Withheld Amounts allocable to the Non-Pooled Trust Notes to be withdrawn from the Interest
Reserve Account for such Distribution Date, minus (vi) an amount equal to the applicable Withheld Amount allocable to the Non-Pooled
Trust Notes in the case of the February Distribution Date and any January Distribution Date occurring in a year that is not a
leap year (unless, in either case, such Distribution Date is the final Distribution Date),  and plus (vii) all other collections
or proceeds received by the Servicer that are allocable to the Non-

 

    	-37-

    	 

    

 

Pooled Trust Notes for the applicable Mortgage Loan during
the related Due Period, other than collections allocable to principal and interest, with respect to the related Mortgage Loan
not otherwise payable to the Depositor or any of its Affiliates, the Servicer, either Special Servicer, the Certificate Administrator
or the Trustee, except (without duplication):

 

                                (i)           all amounts permitted to be deducted from the Collection
Account pursuant to Section 3.06 and Section 3.12;

 

                                (ii)          all amounts representing Scheduled Monthly Payments
in respect of a Mortgage Loan due after the related Due Period; and

 

                                (iii)         any amounts received in respect of Yield Maintenance
Default Premiums.

 

Loan
Specific Available Funds will not include any amounts allocable to the Pooled Trust Notes or the Companion Loans under the Co-Lender
Agreement.

 

“Loan
Specific Certificates”: The Class PR-1, Class PR-2, Class SQ-1, Class SQ-2 and Class SQ-3 Certificates.

 

“Loan
Specific Realized Losses”: As defined in Section 4.01(e).

 

“Lock
Box Account”: With respect to any Mortgaged Property, if applicable, any lock box and related bank account created pursuant
to any documents relating to a Mortgage Loan to receive income therefrom. Any Lock Box Account shall be beneficially owned for
federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with
the terms and provisions of the related Mortgage Loan and Section 3.07. The Servicer shall be permitted to make withdrawals
therefrom, to the extent not inconsistent with the terms of the related Mortgage Loan, for deposit into the related Cash Collateral
Accounts, if any, or to make payments due under such Mortgage Loan, or as is otherwise provided in the related Mortgage Loan Documents.

 

“Lock
Box Agreement”: With respect to any Mortgage Loan, the lock box agreement, if any, between the Mortgage Loan Seller
and the Borrower, pursuant to which the related Lock Box Account, if any, may have been established.

 

“Lower-Tier
Distribution Account”: A trust account or sub-account created and maintained as a separate trust account or a sub-account
of a separate trust account by the Certificate Administrator pursuant to Section 3.05(d), which shall be entitled,
“Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit of the Trustee and the Holders of
J.P. Morgan Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series 2015-WPG,
Lower-Tier Distribution Account” and which must be an Eligible Account or a sub-account of an Eligible Account.

 

“Lower-Tier
Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interests, (i) on or prior to the first
Distribution Date, an amount equal to the Original Lower-Tier Principal Amount of such Class as specified in the Preliminary Statement
to this Agreement, and (ii) as of any date of determination after the first Distribution Date an amount

 

    	-38-

    	 

    

 

equal to the Certificate
Balance of the Class of Related Certificates on the preceding Distribution Date (after giving effect to distribution of principal
and allocation of Realized Losses to such Class of Related Certificates on such Distribution Date).

 

“Lower-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Mortgage Loans, collections thereon and the
Trust’s interest in any REO Property acquired in respect thereof and related amounts held from time to time in the Collection
Account, the Lower-Tier Distribution Account, the Interest Reserve Account and the REO Account.

 

“MAI”:
Member of the Appraisal Institute.

 

“Major
Decision”: Any of the following:

 

                                (i)           any
proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership
of Mortgaged Properties securing such of the Mortgage Loans or related Companion Loans as come into and continue in default;

 

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

 

                                (iii)         any
sale of a defaulted Whole Loan or REO Property for less than the applicable Purchase Price;

 

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

 

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

 

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

 

                                (vii)        any property management company changes or franchise
changes with respect to a Mortgage Loan (for which the applicable lender is required to consent or approve under the related Mortgage
Loan Documents);

 

                                (viii)       releases
of any Escrow Accounts, Reserve Accounts or letters of credit held as performance escrows or reserves, other than those required
pursuant to the

 

    	-39-

    	 

    

 

specific terms of the related Mortgage Loan or related Companion Loans and for which there is no material lender
discretion;

 

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

 

                                (x)           any
determination of an Acceptable Insurance Default; or

 

                                (xi)          any determination by the applicable Special
Servicer to transfer a Mortgage Loan or related Companion Loans to applicable Special Servicer based on an imminent default.

 

provided,
that in the event that a Servicer or the applicable Special Servicer determines that immediate action is necessary to protect
the interests of the Certificateholders (as if they constituted a single lender), the Servicer or such Special Servicer, as the
case may be, may take any such action without waiting for the related Directing Certificateholder’s response. The applicable
Special Servicer shall not be required to obtain the consent of the related Directing Certificateholder for any of the foregoing
actions upon the occurrence and during the continuance of a Control Event with respect to the related Mortgage Loan; provided,
however, that after the occurrence and continuance of a Control Event with respect to the related Mortgage Loan, but prior
to the occurrence of a Consultation Termination Event with respect to such Mortgage Loan, the applicable Special Servicer will
not be required to obtain the consent of the related Directing Certificateholder but will be required to consult on a non-binding
basis with the related Directing Certificateholder in connection with any proposed action described above, only in respect of
each proposed action in clauses (i) through (xi) above and such other matters that are subject to consent, approval, direction
or consultation rights of the related Directing Certificateholder prior to the occurrence of a Consultation Termination Event.

 

In
addition, unless a Control Event has occurred and is continuing, a Directing Certificateholder may direct the applicable Special
Servicer to take, or to refrain from taking, other actions with respect to such Directing Certificateholder’s related Mortgage
Loan, as such Directing Certificateholder may reasonably deem advisable; provided that neither the Servicer nor the applicable
Special Servicer will be required to take or refrain from taking any action pursuant to instructions or objections from such Directing
Certificateholder that would cause it to violate applicable law, the related Mortgage Loan documents, the Pooling and Servicing
Agreement, including Accepted Servicing Practices, or the REMIC provisions.

 

“Management
Agreement”: With respect to any Mortgage Loan, the Management Agreement, if any, by and between the Manager and the
related Borrower, or any successor Management Agreement between such parties.

 

“Majority
Controlling Class Certificateholders”: With respect to the Controlling Class, the Holder(s) of Certificates representing
more than fifty percent (50%) of such Controlling Class, by Certificate Balance, as determined by the Certificate Registrar.

 

    	-40-

    	 

    

 

“Manager”:
With respect to any Mortgage Loan, any property manager for the related Mortgaged Properties.

 

“Maturity
Date”: With respect to each Whole Loan, the maturity date as set forth on the Mortgage Loan Schedule.

 

“Modification
Fees”: With respect to any Whole Loan, any and all fees with respect to a modification, extension, waiver or amendment
that modifies, extends, amends or waives any term of the Mortgage Loan Documents (as evidenced by a signed writing) agreed to
by the Servicer or the applicable Special Servicer (other than all assumption fees, assumption application fees, defeasance fees
(if any), consent fees, Special Servicing Fees, Liquidation Fees or Workout Fees). With respect to each of the Servicer and the
applicable Special Servicer, the Modification Fees collected and earned by such Person from the related Borrower (taken in the
aggregate with any other Modification Fees collected and earned by such Person from the related Borrower) will be subject to a
cap of $2,000,000 each with respect to any Mortgage Loan.

 

“Modification
Loss”: A decrease in the Principal Balance of a Mortgage Loan as a result of a modification thereof in accordance with
the terms hereof.

 

“Monthly
Advance”: Any advance of interest and/or principal made in respect of any Mortgage Loan by the Servicer or the Trustee
pursuant to Section 4.07.

 

“Morningstar”:
Morningstar Credit Ratings, LLC, and its successors in interest. If neither Morningstar nor any successor remains in existence,
“Morningstar” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable
Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator,
the Servicer and the Special Servicers and specific ratings of Morningstar herein referenced shall be deemed to refer to the equivalent
ratings of the party so designated.

 

“Mortgage”:
The mortgage, deed of trust or other instrument creating a first lien on or first priority security interest in a Mortgaged Property
securing a Mortgage Loan.

 

“Mortgage
Event of Default”: An Event of Default under a Mortgage Loan as defined in the related Mortgage Loan Documents.

 

“Mortgage
File”: With respect to any Mortgage Loan, the mortgage documents listed in Section 2.01(b)(i) through (xxi)
pertaining to such particular Mortgage Loan and any other additional documents required to be added to such Mortgage File
pursuant to the express provisions of this Agreement.

 

“Mortgage
Loan”: Each of the loan assets that has been transferred and assigned to the Trustee pursuant to Section 2.01
and is from time to time held in the Trust Fund, which assets are comprised of the Mortgage Loans originally so transferred,
assigned and held, and the related Mortgage Loan as identified on the Mortgage Loan Schedule as of the Closing Date, together
with all security applicable thereto and all equity or cash flow components and similar interests derived therefrom. Such term
shall include any REO Mortgage Loan or Specially Serviced Mortgage Loan.

 

    	-41-

    	 

    

 

“Mortgage
Loan Interest Accrual Period”: With respect to each Mortgage Loan and the related Companion Loans and each related Payment
Date, the interest accrual period during which interest accrues for such Payment Date, as defined in the related Mortgage Loan
Documents.

 

“Mortgage
Loan Documents”: With respect to any Mortgage Loan, the documents executed or delivered in connection with the origination
of such Mortgage Loan or subsequently added to the related Mortgage File or required to be added pursuant to the terms hereof
or thereof.

 

“Mortgage
Loan Purchase Agreement”: As defined in the Preliminary Statement.

 

“Mortgage
Loan Schedule”: The list of Mortgage Loans included in the Trust Fund as of the Closing Date being attached as Exhibit B,
which list shall set forth the following information with respect to each Mortgage Loan:

 

                                (i)           the Mortgage Loan Seller and the Loan Number of the
related Mortgage Loan;

 

                                (ii)          the property name, type, city and state where each
related Mortgaged Property is located;

 

                                (iii)         the Mortgage Rate of the related Mortgage Loan;

 

                                (iv)         the Maturity Date of the related Mortgage Loan, whether
there are any extensions beyond the Maturity Date and the terms of such extensions;

 

                                (v)          the nature of the interest in the Mortgaged Property
(e.g., fee/leasehold);

 

                                (vi)         the name of the original Borrower;

 

                                (vii)        the origination date of the Mortgage Loan; and

 

                                (viii)       whether or not such Mortgage Loan has a related
letter of credit.

 

“Mortgage
Loan Seller”: Each of (i) JPMCB and its successors in interest and (ii) GACC and its successors in interest.

 

“Mortgage
Rate”: The per annum rate at which interest accrues on each Mortgage Loan, in the absence of a default, as set
forth on the Mortgage Loan Schedule. For purposes of determining the Pass-Through Rates of the Regular Certificates, any adjustments
to a Mortgage Rate or Net Mortgage Rate due to any modification of the related Mortgage Loan after the date hereof (including
any change in interest rate in connection with a bankruptcy of the related Borrower) shall be ignored.

 

“Mortgaged
Property”: The underlying property securing a Mortgage Loan (and the related Companion Loan), including any REO Property,
consisting of a fee simple estate, and, with respect to certain Mortgage Loans, a leasehold estate or both a leasehold estate
and fee

 

    	-42-

    	 

    

 

estate,
or a leasehold estate in a portion of the property and a fee simple estate in the remainder, in a parcel of land improved by
a commercial or multi-family property, together with any personal property, fixtures, leases and other property or rights
pertaining thereto.

 

“Net
Condemnation Proceeds”: Condemnation Proceeds, to the extent such Condemnation Proceeds are not to be applied to the
restoration of the related Mortgaged Property or released to the Borrower in accordance with the express requirements of the Mortgage
or Note or other documents included in the Mortgage File or in accordance with Accepted Servicing Practices. Such proceeds will
be apportioned between the Mortgage Loan and the related Companion Loans pursuant to the allocations set forth in the related
Co-Lender Agreement.

 

“Net
Insurance Proceeds”: Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the
related Mortgaged Property or released to the related Borrower in accordance with the express requirements of the Mortgage or
Note or other documents included in the Mortgage File or in accordance with the Accepted Servicing Practices. Such proceeds will
be apportioned between the Mortgage Loan and the related Companion Loans pursuant to the allocations set forth in the related
Co-Lender Agreement.

 

“Net
Liquidation Proceeds”: (i) Amounts received by the Servicer or the related Special Servicer in connection with
the liquidation of a Whole Loan or the receipt by the Servicer or the related Special Servicer of Liquidation Proceeds and other
payments and recoveries (including proceeds of a final sale) from the sale or other disposition of REO Property, whether through
judicial foreclosure, sale or otherwise, including payments in connection with such Whole Loan received from the related Borrower
or otherwise (other than amounts required to be paid to the related Borrower pursuant to the terms of the applicable Mortgage
or otherwise pursuant to law), minus (ii) expenses incurred by the Certificate Administrator, the Trustee, the Servicer or
the related Special Servicer in connection with the enforcement and liquidation of any Whole Loan or related REO Property (including,
without limitation, legal fees and expenses, committee or referee fees, appraisal fees, property manager fees, environmental site
assessment fees, and, if applicable, brokerage commissions and conveyance taxes) and any Liquidation Fee for such Whole Loan,
and minus (iii) any Servicing Advances (including Advance Interest payable to the Servicer or the Trustee on outstanding
Advances) with respect to the related Whole Loan or REO Property not included in (ii) above. Such proceeds will be apportioned
between the Mortgage Loan and the related Companion Loans pursuant to the allocations set forth in the related Co-Lender Agreement..

 

“Net
Mortgage Rate”: For each Mortgage Loan means, with respect to any Distribution Date, the annualized rate at which interest
would have to accrue in respect of such Mortgage Loan on the basis of a 360-day year consisting of twelve 30-day months in order
to produce the aggregate amount of interest (net of interest at the Administrative Cost Rate and exclusive of Default Interest)
actually accrued on such Mortgage Loan during the related Mortgage Loan Interest Accrual Period; provided, however,
that for purposes of calculating Pass-Through Rates on the Regular Certificates and the interest rate on the Uncertificated Lower-Tier
Interests, the Net Mortgage Rate will be determined without regard to any modification, waiver or amendment of the terms of such
Mortgage Loan, whether agreed to by the Servicer, the applicable Special Servicer or resulting from a bankruptcy, insolvency or

 

    	-43-

    	 

    

 

similar proceeding involving the related Borrower, or otherwise; provided, further, however, that (i) the
Net Mortgage Rate for the Mortgage Loan Interest Accrual Period preceding the Payment Dates in (a) January and February in each
year that is not a leap year or (b) in February only in each year that is a leap year (unless the related Distribution Date is
the final Distribution Date), will be the annualized rate at which interest would have to accrue on the basis of a 360-day year
consisting of twelve 30-day months in order to produce the aggregate amount of interest (net of interest at the Administrative
Cost Rate and exclusive of Default Interest) actually accrued on such Mortgage Loan during such Mortgage Loan Interest Accrual
Period, minus the applicable Withheld Amount and (ii) the Net Mortgage Rate for the Mortgage Loan Interest Accrual Period preceding
the Payment Date in March (or February, if the related Distribution Date is the final Distribution Date), will be the annualized
rate at which interest would have to accrue on the basis of a 360-day year consisting of twelve 30-day months in order to produce
the aggregate amount of interest (net of interest at the Administrative Cost Rate and exclusive of Default Interest) actually
accrued on such Mortgage Loan during such Mortgage Loan Interest Accrual Period, plus the applicable Withheld Amounts.

 

“Net
REO Income”: With respect to any REO Property, all REO Income received in connection with such REO Property, less any
operating expenses, including, but not limited to, utilities, real estate taxes, management fees, insurance premiums, expenses
for maintenance and repairs and any other capital expenses directly related to such REO Property and permitted to be paid therefrom
pursuant to Section 3.18(b), and after satisfaction of all Liquidation Expenses incurred to date.

 

“Net
WAC Rate”: With respect to any Distribution Date and the Mortgage Loans, as applicable, is the weighted average of the
Net Mortgage Rates for each Pooled Mortgage Loan, as of the first day of the related Mortgage Loan Interest Accrual Period (weighted
on the basis of their respective Principal Balances on such day).

 

“New
Lease”: Any lease of REO Property entered into on behalf of the Trust Fund, including any lease renewed or extended
on behalf of the Trust Fund if the owner of the REO Property has the right to renegotiate the terms of such lease.

 

“Non-Trust
Note”: As defined in the Preliminary Statement.

 

“Non-U.S.
Person”: A person that is not a U.S. Person.

 

“Nonrecoverable
Advance”: Any portion of an Advance proposed to be made or previously made that has not been previously reimbursed to
the Servicer or the Trustee, as applicable, and that, in the sole discretion of the Servicer or the Trustee, as applicable, in
each case, with respect to the Servicer in accordance with Accepted Servicing Practices and with respect to the Trustee, in its
good faith judgment will not or, in the case of a proposed Advance, would not, be ultimately recoverable from late payments, Net
Insurance Proceeds, Net Condemnation Proceeds, Liquidation Proceeds, REO Income and other collections on or in respect of the
related Mortgage Loan. The Servicer or the Trustee, as applicable shall consider Unliquidated Advances in respect of prior Advances
for purposes of nonrecoverability determinations as if such Unliquidated Advances were unreimbursed Advances. The judgment or
determination by the Servicer or the Trustee that it has made a Nonrecoverable Advance or

 

    	-44-

    	 

    

 

that
any proposed Advance, if made, would constitute a Nonrecoverable Advance shall be evidenced, in the case of the Servicer, by a
certificate of a Servicing Officer thereof delivered to the Trustee, the Depositor and the 17g-5 Information Provider, and if
not the same, the Servicer or the applicable Special Servicer, as applicable, and, in the case of the Trustee, by a certificate
of a Responsible Officer of the Trustee delivered to the Depositor and the Rating Agencies and if not the same, the Servicer or
the applicable Special Servicer, as applicable, that sets forth such judgment or determination and the procedures and considerations
of the Servicer, the applicable Special Servicer or the Trustee, as applicable, forming the basis of such determination (including,
but not limited to, information selected by the Person making such judgment or determination in its reasonable business judgment
as described above, such as related income and expense statements, rent rolls, occupancy status, property inspections, Servicer,
Special Servicer or Trustee inquiries, third party engineering and environmental reports, and an Appraisal thereof conducted within
the past six months); provided, however, that the applicable Special Servicer may, at its option make a determination
in accordance with Accepted Servicing Practices, that any Servicing Advance previously made or proposed to be made is a Nonrecoverable
Servicing Advance and shall deliver to the Servicer, the Trustee, the Certificate Administrator and the 17g-5 Information Provider
notice of such determination. Notwithstanding the above, the Trustee shall be entitled to conclusively rely upon any determination
by the Servicer or the applicable Special Servicer, as the case may be, that any Advance previously made is a Nonrecoverable Advance
or that any proposed Advance would, if made, constitute a Nonrecoverable Advance and the Servicer shall be entitled to conclusively
rely upon any determination by the applicable Special Servicer that any Advance previously made is a Nonrecoverable Advance or
that any proposed Advance would, if made, constitute a Nonrecoverable Advance (but this statement shall not be construed to entitle
the applicable Special Servicer to reverse any determination that may have been made by the Servicer or the Trustee or to prohibit
the Servicer or the Trustee from making a determination, that any Advance constitutes or would constitute a Nonrecoverable Advance).
Any request by the applicable Special Servicer that the Servicer advance a Servicing Advance shall be deemed to be a determination
by such Special Servicer that such requested Servicing Advance is not a Nonrecoverable Advance, and the Servicer (and the Trustee,
if applicable) shall be entitled to rely on such determination, provided that such determination shall not be binding upon
the Servicer and the Trustee, if applicable.

 

In
making such nonrecoverability determination, the Servicer, the applicable Special Servicer or Trustee, as applicable, will be
entitled (a) to consider (among other things) (i) the obligations of each Borrower under the terms of the related Mortgage
Loan (and related Companion Loan, as applicable), as it may have been modified and (ii) the related Mortgaged Properties
in their “as-is” or then-current conditions and occupancies, as modified by such party’s assumptions (consistent
with the Accepted Servicing Practices in the case of the Servicer or the applicable Special Servicer or in its good faith judgment
in the case of the Trustee, solely in its capacity as Trustee) regarding the possibility and effects of future adverse change
with respect to such Mortgaged Properties, (b) to estimate and consider (among other things) future expenses, (c) to
estimate and consider (consistent with the Accepted Servicing Practices in the case of the Servicer and the applicable Special
Servicer or in its good faith judgment in the case of the Trustee, solely in its capacity as Trustee) (among other things) the
timing of recoveries and (d) to give due regard to the existence of any Nonrecoverable Advances which, at the time of such
consideration, the recovery of which are being deferred or delayed by the Servicer, in light

 

    	-45-

    	 

    

 

of the fact that related proceeds
are a source of recovery not only for the Advance under consideration but also a potential source of recovery for such delayed
or deferred Advance. In addition, any Person, in considering whether an Advance is a Nonrecoverable Advance, will be entitled
to give due regard to the existence of any outstanding Nonrecoverable Advance or Workout-Delayed Reimbursement Amount with respect
to other Mortgage Loans (and related Companion Loans, as applicable) which, at the time of such consideration, the reimbursement
of which is being deferred or delayed by the Servicer or the Trustee because there is insufficient principal available for such
reimbursement, in light of the fact that proceeds on the related Mortgage Loan (and related Companion Loan, as applicable) are
a source of reimbursement not only for the Advance under consideration, but also as a potential source of reimbursement of such
Nonrecoverable Advance or Workout-Delayed Reimbursement Amounts which are or may be being deferred or delayed. In addition, any
such Person may update or change its recoverability determinations at any time (but not reverse any other Person’s determination
that an Advance is a Nonrecoverable Advance) and, consistent with the Accepted Servicing Practices, in the case of the Servicer
or in its good faith judgment in the case of the Trustee (solely in its capacity as Trustee), may obtain, promptly upon request,
from the applicable Special Servicer any reasonably required analysis, Appraisals or market value estimates or other information
in the applicable Special Servicer’s possession for making a recoverability determination. Absent bad faith, the Servicer’s,
the applicable Special Servicer’s or the Trustee’s determination as to the recoverability of any Advance shall be
conclusive and binding on the Certificateholders. The determination by the Servicer, the applicable Special Servicer or the Trustee,
as applicable, that the Servicer or the Trustee, as applicable, has made a Nonrecoverable Advance or that any proposed Advance,
if made, would constitute a Nonrecoverable Advance, or any updated or changed recoverability determination, shall be evidenced
by an Officer’s Certificate delivered by either the applicable Special Servicer or the Servicer to the other and to the
Trustee, the Certificate Administrator, the Depositor, or by the Trustee to the Depositor, the Servicer, the applicable Special
Servicer and the Certificate Administrator. The Officer’s Certificate shall set forth such determination of nonrecoverability
and the considerations of the Servicer, the applicable Special Servicer or the Trustee, as applicable, forming the basis of such
determination (which shall be accompanied by, to the extent available, income and expense statements, rent rolls, occupancy status,
property inspections and any other information used by the Servicer, the applicable Special Servicer or the Trustee, as applicable,
to make such determination and shall include any existing Appraisal of the related Mortgage Loan or Mortgaged Property). The Trustee
shall be entitled to conclusively rely on the Servicer’s or applicable Special Servicer’s determination that an Advance
is or would be nonrecoverable, and the Servicer shall be entitled to conclusively rely on the applicable Special Servicer’s
determination that an Advance is or would be nonrecoverable.

 

“Note”:
With respect to any Mortgage Loan as of any date of determination, the note or other evidence of indebtedness and/or agreements
evidencing the indebtedness of a Borrower under such Mortgage Loan, including any amendments or modifications, or any renewal
or substitution notes, as of such date.

 

“Noteholder”:
With respect to each Mortgage Loan, the owner of the related Note.

 

    	-46-

    	 

    

 

“Notice
of Termination”: Any of the notices given to the Certificate Administrator and the Trustee pursuant to Section 10.01(b).

 

“Notional
Amount”: With respect to the Class X Certificates, the aggregate of the Certificate Balances of the Class A, Class
B and Class C Certificates.

 

“NRSRO”:
Any nationally recognized statistical ratings organization, including the Rating Agencies.

 

“NRSRO
Certification”: A certification substantially in the form of Exhibit L-3 that may be provided in hard form
or electronically by means of a “click-through” confirmation on the 17g-5 Information Provider’s Website, in
favor of the 17g-5 Information Provider stating that such certifying party is a Rating Agency or that such certifying party is
an NRSRO that has provided the Depositor with the appropriate certifications under Rule 17g-5(e), has access to the Depositor’s
17g-5 website and will keep any information obtained from the Certificate Administrator’s and 17g-5 Information Provider’s
Website confidential.

 

“Offering
Circular”: The Offering Circular, dated July 9, 2015 for the Certificates.

 

“Officer’s
Certificate”: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President, a Vice
President (however denominated), any Responsible Officer or Servicing Officer customarily performing functions similar to those
performed by any of the above designated officers and also with respect to a particular matter, any other officer to whom such
matter is referred because of such officer’s knowledge of and familiarity with the particular subject, or an authorized
officer of the Depositor, and delivered to the Depositor, the Certificate Administrator, the Trustee or the Servicer, as the case
may be.

 

“Opinion
of Counsel”: A written opinion of counsel, who may, without limitation, be counsel for the Depositor, a Special Servicer
or the Servicer, as the case may be, acceptable to the Trustee and the Certificate Administrator, except that any opinion of counsel
relating to (a) qualification of either Trust REMIC as a REMIC or the imposition of tax under the REMIC Provisions on any
income or property of any such REMIC, (b) compliance with the REMIC Provisions (including application of the definition of
“Independent Contractor”) or (c) a resignation of the Servicer pursuant to Section 6.04, must
be an opinion of counsel who is Independent of the Depositor and the Servicer.

 

“Original
Certificate Balance”: With respect to any Class of Principal Balance Certificates, the initial aggregate principal amount
thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

 

“Original
Lower-Tier Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interests, the initial Lower-Tier
Principal Amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement to this Agreement.

 

“Original
Notional Amount”: With respect to the Class X Certificates, the initial aggregate notional amount thereof as of the
Closing Date, as specified in the Preliminary Statement.

 

    	-47-

    	 

    

 

“Other
Depositor”: With respect to any Other Securitization Trust, the related “depositor” (within the meaning
of Item 1101(e) of Regulation AB).

 

“Other
Exchange Act Reporting Party”: With respect to any Other Securitization Trust that is subject to the reporting requirements
of the Exchange Act, the trustee, certificate administrator, master servicer, special servicer or depositor under the related
Other Pooling and Servicing Agreement that is responsible for the preparation and/or filing of Form 8-K, Form 10-D and Form 10-K
with respect to such Other Securitization Trust, as identified in writing to the parties to this Agreement; and, with respect
to any Other Securitization Trust that is not subject to the reporting requirements of the Exchange Act and for the purposes of
Sections 12.07, 12.08, 12.09 and 12.16 only, the trustee, certificate administrator, master servicer,
special servicer or depositor under the related Other Pooling and Servicing Agreement that is responsible for the preparation
and/or dissemination of periodic distribution date statements or similar reports, as identified in writing to the parties to this
Agreement.

 

“Other
Pooling and Servicing Agreement”: The pooling and servicing agreement or other comparable agreement governing the creation
of any Other Securitization Trust and the issuance of securities backed by the assets of such Other Securitization Trust.

 

“Other
Securitization Trust”: Any “issuing entity” (within the meaning of Item 1101(f) of Regulation AB) that holds
a Companion Loan (or any portion thereof or interest therein), as identified in writing to the parties to this Agreement.

 

“Pass-Through
Rate”: With respect to (i) the Class A Certificates, the Class A Pass-Through Rate; (ii)  the Class X
Certificates, the Class X Pass-Through Rate; (iii) the Class B Certificates, the Class B Pass-Through Rate;
(iv) the Class C Certificates, the Class C Pass-Through Rate; (v)  the Class LA, Class LB and Class LC Uncertificated
Interests, the Net WAC Rate; (vi) the Class PR-1 Certificates and the Class LPR-1 Uncertificated Interest, the Class PR-1
Pass-Through Rate; (vii) the Class PR-2 Certificates and the Class LPR-2 Uncertificated Interest, the Class PR-2
Pass-Through Rate; (viii) the Class SQ-1 Certificates and the Class SQ-1 Uncertificated Interest, the Class SQ-1
Pass-Through Rate; (ix) the Class SQ-2 Certificates and the Class LSQ-2 Uncertificated Interest, the Class SQ-2
Pass-Through Rate and (x) the Class SQ-3 Certificates and the Class LSQ-3 Uncertificated Interest, the Class SQ-3
Pass-Through Rate at which, in each case, interest accrues on the Certificate Balance, Notional Balance or Lower-Tier Principal
Amount, as applicable, of such Class as set forth in the Preliminary Statement to this Agreement.

 

“Payment
Date”: With respect to a Mortgage Loan, the date on which a Scheduled Monthly Payment or Balloon Payment is due, or
an Assumed Scheduled Monthly Payment is deemed due and payable, as the case may be, and with respect to any REO Mortgage Loan,
the day of each month set forth in the related Note or Loan Agreement on which a Scheduled Monthly Payment would be due and payable
under such Note or Loan Agreement or an Assumed Scheduled Monthly Payment is deemed due and payable, as the case may be.

 

“PCAOB”:
The Public Company Accounting Oversight Board.

 

“Pearlridge
A Notes”: As defined in the Preliminary Statement.

 

    	-48-

    	 

    

 

“Pearlridge
Co-Lender Agreement”: As defined in the Preliminary Statement.

 

“Pearlridge
Companion Loans”: As defined in the Preliminary Statement.

 

“Pearlridge
Loan Agreement”: As defined in the Preliminary Statement.

 

“Pearlridge
Loan Specific Certificates”: The Class PR-1 and Class PR-2 Certificates.

 

“Pearlridge
Mortgage Loan”: As defined in the Preliminary Statement.

 

“Pearlridge
Non-Trust Notes”: As defined in the Preliminary Statement.

 

“Pearlridge
Note A-1-C”: As defined in the Preliminary Statement.

 

“Pearlridge
Note A-1-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Note A-2-C”: As defined in the Preliminary Statement.

 

“Pearlridge
Note A-2-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Note B-1-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Note B-2-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Note C-1-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Note C-2-S”: As defined in the Preliminary Statement.

 

“Pearlridge
Special Servicer”: KeyBank National Association, a national banking association, or its successor in interest, or if
any successor special servicer is appointed as special servicer for the Pearlridge Mortgage Loan as herein provided in Section 3.25,
such successor.

 

“Pearlridge
Trust Notes”: As defined in the Preliminary Statement.

 

“Pearlridge
Trust A Notes”: As defined in the Preliminary Statement.

 

“Pearlridge
Trust B Notes”: As defined in the Preliminary Statement.

 

“Pearlridge
Trust C Notes”: As defined in the Preliminary Statement.

 

“Pearlridge
Whole Loan”: As defined in the Preliminary Statement.

 

“Percentage
Interest”: As to any Certificate, the percentage interest evidenced thereby in distributions required to be made with
respect to the related Class. With respect to any Certificate, the percentage interest is equal to the initial denomination of
such Certificate divided by the initial Certificate Balance or Notional Amount, as applicable, of such Class of Certificates.
With respect to the Class R Certificates, the Percentage Interest will be equal to the specific percentage set forth on such
Certificate.

 

    	-49-

    	 

    

 

“Performing
Party”: As defined in Section 12.12.

 

“Permitted
Investments”: Any one or more of the following obligations or securities (including obligations or securities of the
Certificate Administrator, or managed by the Certificate Administrator or any Affiliate of the Certificate Administrator, if otherwise
qualifying hereunder), regardless whether issued by the Depositor, the Servicer, a Special Servicer, the Certificate Administrator,
the Trustee, or any of their respective Affiliates and having the required ratings, if any, provided for in this definition and
which shall not be subject to liquidation prior to maturity:

 

(i)           direct
obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States of America,
Fannie Mae, Freddie Mac or any agency or instrumentality of the United States of America, the obligations of which are backed
by the full faith and credit of the United States of America that mature in one (1) year or less from the date of acquisition;
provided that any obligation of, or guarantee by, any agency or instrumentality of the United States of America shall be a Permitted
Investment only if such investment would not result in the downgrading, withdrawal or qualification of the then-current rating
assigned by each Rating Agency to any Certificate as evidenced in writing, other than (a) unsecured senior debt obligations of
the U.S. Treasury (direct or fully funded obligations), U.S. Department of Housing and Urban Development public housing agency
bonds, Federal Housing Administration debentures, Government National Mortgage Association guaranteed mortgage-backed securities
or participation certificates, RefCorp debt obligations and SBA-guaranteed participation certificates and guaranteed pool certificates
and (b) Farm Credit System consolidated systemwide bonds and notes, Federal Home Loan Banks’ consolidated debt obligations,
Freddie Mac debt obligations, and Fannie Mae debt obligations rated at least “A-1” by S&P, if such obligations
mature in sixty (60) days or less, or rated at least “AA-”, “A-1+” or “AAAm” by S&P, if
such obligations mature in 365 days or less;

 

(ii)          federal
funds, unsecured certificates of deposit, time deposits, banker’s acceptances, and repurchase agreements having maturities
of not more than 90 days of any commercial bank organized under the laws of the United States of America or any state thereof
or the District of Columbia, the short-term debt obligations of which are rated (a) “A-1+” (or the equivalent)
by S&P and, if it has a term in excess of three months, the long-term debt obligations of which are rated “AAA”
(or the equivalent) by S&P, and that (1) is at least “adequately capitalized” (as defined in the regulations
of its primary Federal banking regulator) and (2) has Tier 1 capital (as defined in such regulations) of not less than $1,000,000,000,
(b) in the highest short-term debt rating category of Morningstar (if then rated by Morningstar) and, if it has a term in excess
of three months, the long-term debt obligations of which are rated “AAA” (or the equivalent) by Morningstar (if then
rated by Morningstar) (c) if not rated by any such Rating Agency, otherwise acceptable to each Rating Agency, and in any such
case as confirmed in a Rating Agency Confirmation relating to the Certificates;

 

(iii)         deposits
that are fully insured by the Federal Deposit Insurance Corp. (“FDIC”);

 

    	-50-

    	 

    

 

(iv)         commercial
paper rated (a) “A–1+” (or the equivalent) by S&P and having a maturity of not more than 365 days, and (b)
which is rated in the highest rating category of Morningstar (if then rated by Morningstar); or if not so rated by any such Rating
Agencies, otherwise acceptable to each Rating Agency, and in any such case as confirmed in a Rating Agency Confirmation relating
to the Certificates;

 

(v)          any
money market fund that (a) has substantially all of its assets invested continuously in the types of investments referred
to in clause (i) above, (b) has net assets of not less than $5,000,000,000, and (c) has the highest rating
obtainable from S&P and Morningstar (if then rated by Morningstar);

 

(vi)         the
Wells Fargo Advantage Heritage Money Market Fund, so long as it is rated by S&P and Morningstar in its highest money market
fund ratings category;

 

(vii)        any
other demand, money market or time deposit, obligation, security or investment, but for the failure to satisfy one or more of
the minimum rating(s) set forth in the applicable clause, would be listed in clauses (i)-(vi) above with respect to which
a Rating Agency Confirmation has been obtained from each Rating Agency for which the minimum ratings set forth in the applicable
clause is not satisfied with respect to such demand, money market or time deposit, obligation, security or investment; and

 

(viii)       such
other investments as to which each Rating Agency shall have delivered a Rating Agency Confirmation;

 

provided,
however, that with respect to any Permitted Investment for which a rating by S&P is required as set forth above, such
rating must be an unqualified rating (i.e., one with no qualifying suffix), with the exception of ratings with regulatory indicators,
such as the (sf) subscript, and unsolicited ratings; provided, further, however, that each Permitted Investment
qualifies as a “cash flow investment” pursuant to Section 860G(a)(6) of the Code, and that (a) it shall
have a predetermined fixed dollar of principal due at maturity that cannot vary or change and (b) any such investment that
provides for a variable rate of interest must have an interest rate that is tied to a single interest rate index plus a fixed
spread, if any, and move proportionately with such index; and provided, further, however, that no such instrument
shall be a Permitted Investment (a) if such instrument evidences principal and interest payments derived from obligations
underlying such instrument and the interest payments with respect to such instrument provide a yield to maturity at the time of
acquisition of greater than 120% of the yield to maturity at par of such underlying obligations or (b) if such instrument
may be redeemed at a price below the purchase price; and provided, further, however, that no amount beneficially
owned by either Trust REMIC (even if not yet deposited in the Trust) may be invested in investments (other than money market funds)
treated as equity interests for federal income tax purposes, unless the Servicer receives an Opinion of Counsel, at its own expense,
to the effect that such investment will not adversely affect the REMIC status of either Trust REMIC. Permitted Investments that
are subject to prepayment or call may not be purchased at a price in excess of par. All investments shall mature or be redeemable
upon the option of the holder thereof on or prior to the earlier of (x) three months from the date of their purchase and (y) the
Business Day preceding the day before the date such amounts are required to be applied hereunder.

 

    	-51-

    	 

    

  

“Permitted
Mezzanine Lender”: Each lender under the Permitted Mezzanine Loan.

 

“Permitted
Mezzanine Loan”: Provided no Mortgage Loan Event of Default has occurred and is continuing, upon not less than 30 days’
prior written notice to the Mortgage Lender which notice is revocable (provided that the Borrowers are required
to reimburse the Mortgage Lender for any reasonable out-of-pocket costs and expenses in connection with such revoked notice),
certain direct or indirect owners of the Borrowers (collectively, “Permitted Mezzanine Borrower”) are permitted
to obtain mezzanine financing, including a refinancing of such mezzanine financing.

 

“Permitted
Transferee”: Any Person or agent of such Person other than (a) a Disqualified Organization, (b) any other Person so
designated by the Certificate Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such Person
or the Person requesting the transfer) to the effect that the transfer of an ownership interest in any Class R Certificate to
such Person will not cause either Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding,
(c) a Disqualified Non-U.S. Person, (d) any partnership if any of its interests are (or under the partnership agreement are permitted
to be) owned, directly or indirectly (other than through a U.S. corporation), by a Disqualified Non-U.S. Person or (v) a U.S.
Person with respect to whom income from the Class R Certificate is attributable to a foreign permanent establishment or fixed
base, within the meaning of an applicable income tax treaty, of the transferee or any other U.S. Person.

 

“Person”:
Any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof or any other entity.

 

“Plan”:
As defined in Section 5.02(m).

 

“Pooled
Available Funds”: For any Distribution Date and the Pooled Certificates shall be the sum of (i) all previously
undistributed Scheduled Monthly Payments or other receipts on account of principal and interest on or in respect of the Mortgage
Loans (allocable to the Pooled Trust Notes including, but not limited to, allocable portions of Balloon Payments, Principal Prepayments,
Net Liquidation Proceeds, Net Insurance Proceeds, Net Condemnation Proceeds and Late Collections, but without duplication thereof)
received by the Servicer during the related Due Period an in each case to the extent allocable to the Pooled Trust Notes for the
Mortgage Loans, plus (ii) the proceeds of any repurchase of any Mortgage Loans (allocable to the Pooled Trust Notes) required
to be repurchased by the Mortgage Loan Sellers or any purchase or repayment made by the Mortgage Loan Sellers or a Special Servicer,
and received by the Servicer during the related Due Period in respect of the Mortgage Loans allocable to the Pooled Trust Notes,
plus (iii) all Monthly Advances made by the Servicer or the Trustee, as applicable, on the Mortgage Loans in respect of such
Distribution Date, plus (iv) amounts of Compensating Interest remitted by the Servicer to the Collection Account and allocable
to the Pooled Trust Notes in respect of Prepayment Interest Shortfalls allocable to the Pooled Trust Notes occurring during the
related Due Period, plus (v) if such Distribution Date is the Distribution Date occurring in March of each year (or February,
if such Distribution Date is the final Distribution Date), Withheld Amounts allocable to the Pooled Trust Notes to be withdrawn

 

    	-52-

    	 

    

 

from the Interest Reserve Account for such Distribution Date, minus (vi) an amount equal to the applicable Withheld Amount allocable
to the Pooled Trust Notes in the case of the February Distribution Date and any January Distribution Date occurring in a year
that is not a leap year (unless, in either case, such Distribution Date is the final Distribution Date),  and plus (vii)
all other collections or proceeds received by the Servicer for the Mortgage Loans during the related Due Period that are allocable
to the Pooled Trust Notes, other than collections allocable to principal and interest, with respect to the related Mortgage Loan
not otherwise payable to the Depositor or any of its Affiliates, the Servicer, a Special Servicer, the Certificate Administrator
or the Trustee, except (without duplication):

 

(i)          
all amounts permitted to be deducted from the Collection Account pursuant to Section 3.06 and Section 3.12;

 

(ii)         
all late fees, default interest, Modification Fees, consent fees, loan service transaction fees, demand fees, Assumption Fees,
and similar fees permitted to be retained by the Servicer or applicable Special Servicer pursuant to Section 3.12;

 

(iii)        
all amounts representing Scheduled Monthly Payments in respect of a Mortgage Loan due after the related Due Period; and

 

(iv)        
any amounts received in respect of Yield Maintenance Default Premiums.

 

Pooled
Available Funds will not include any amounts allocable to the Non-Pooled Trust Notes or the Companion Loans under the Co-Lender
Agreement.

 

“Pooled
Certificates”: The Pooled Senior Certificates and the Pooled Subordinate Certificates.

 

“Pooled
Mortgage Loan”: With respect to each Mortgage Loan, the loan comprised of the related Pooled Trust Notes.

 

“Pooled
Principal Balance Certificates”: The Pooled Senior Certificates, other than the Class X Certificates, and the Pooled
Subordinate Certificates.

 

“Pooled
Senior Certificates”: The Class A Certificates and the Class X Certificates.

 

“Pooled
Subordinate Certificates”: The Class B Certificates and the Class C Certificates.

 

“Pooled
Trust Notes”: As defined in the Preliminary Statement.

 

“Prepayment
Interest Excess”: For any Distribution Date and with respect to any Mortgage Loan that was subject to a Principal Prepayment
in full or in part during the related Due Period, which Principal Prepayment was applied to such Mortgage Loan after the related
Payment Date and prior to the following Determination Date, the amount of interest (net of the related Servicing Fees), to the
extent collected from the related Borrower (without regard to any

 

    	-53-

    	 

    

 

Yield Maintenance Default Premium actually collected), that
would have accrued at a rate per annum equal to the sum of (x) the related Net Mortgage Rate for such Mortgage Loan
and (y) the Certificate Administrator Fee Rate on the amount of such Principal Prepayment from and after such Payment Date
and ending on the date of such prepayment.

 

“Prepayment
Interest Shortfall”: With respect to any Mortgage Loan that is not related to a Specially Serviced Mortgage Loan and
any Distribution Date, the amount of any shortfall in collections of interest resulting from a Principal Prepayment or any involuntary
payment of principal on such Mortgage Loan during the related Due Period and prior to the related Payment Date, which Principal
Prepayment is not accompanied by interest accrued for the period on or after such payment is made through the end of the related
Mortgage Loan Interest Accrual Period, in any case, to the extent allocated to the Mortgage Loan (or the related Companion Loan,
as the case may be).

 

“Principal
Balance”: With respect to any Mortgage Loan, including, without limitation, an REO Mortgage Loan, at any date of determination,
the principal balance of such Mortgage Loan outstanding as of the Closing Date, and with respect to any REO Property, the principal
balance of the related Mortgage Loan as of the Closing Date, minus the sum of (i) all related payments, Net Insurance
Proceeds, Net Condemnation Proceeds, Net Liquidation Proceeds and Net REO Income, in each case if any, to the extent identified
and applied by the Servicer as recoveries of principal of such Mortgage Loan in accordance with the provisions of this Agreement
through the date of determination, and (ii) any Bankruptcy Loss or Modification Loss on such Mortgage Loan that occurs on
or prior to the date of determination. The Principal Balance of a Specially Serviced Mortgage Loan or REO Mortgage Loan with respect
to which the applicable Special Servicer has made a Final Recovery Determination is zero (provided that all the Net Liquidation
Proceeds, Net Condemnation Proceeds and Net Insurance Proceeds from such Specially Serviced Mortgage Loan have been distributed
in accordance with Section 4.01). The Principal Balance of any Mortgage Loan that was repurchased from the Trust Fund
in connection with a material breach of a representation or warranty pursuant to Section 2.03 or pursuant to the Mortgage
Loan Purchase Agreement or with respect to any Mortgage Loan that was purchased from the Trust Fund pursuant to Section 2.02
or Section 3.19 is zero (provided that the purchase price thereof has been distributed in accordance with
Section 4.01). With respect to each Mortgage Loan, for the purposes of calculating Realized Losses with respect to
the Regular Certificates pursuant to the second sentence of the definition of Realized Loss, the Principal Balance of a Mortgage
Loan shall not be reduced by the amount of any principal collections on the Mortgage Loan applied to the payment of Workout Delayed
Reimbursement Amounts pursuant to Section 3.06(b) unless the related Unliquidated Advance is determined to be a Nonrecoverable
Advance.

 

“Principal
Balance Certificates”: The Certificates, other than the Class X Certificates and Class R Certificates.

 

“Principal
Distribution Amount”: With respect to (i) any Pooled Mortgage Loan, for any Distribution Date, is equal to the sum of
(a) all payments of principal, including the Balloon Payment and any voluntary Principal Prepayment, received on the related
Mortgage Loan and allocable to the Pooled Trust Notes for such Mortgage Loan during the related Due Period or advanced with respect
to such Due Period; (b) the portion of any Net Liquidation

 

    	-54-

    	 

    

 

Proceeds, Net Insurance Proceeds and Net Condemnation Proceeds
allocable to principal of the related Mortgage Loan and allocable to the Pooled Trust Notes for such Mortgage Loan received during
the related Due Period or advanced with respect to such Due Period; and (c) to the extent not included in the preceding clauses
(a) and (b) above, any other full or partial recoveries allocable to principal of the Pooled Trust Notes for the related Mortgage
Loan, including Net REO Income, received during the related Due Period. and (ii) any Non-Pooled Trust Note for any Distribution
Date, is equal to the sum of (a) all payments of principal, including the Balloon Payment and any voluntary Principal Prepayment,
received on the related Mortgage Loan and allocable to the Non-Pooled Trust Notes for such Mortgage Loan during the related Due
Period, or advanced with respect to such Due Period; (b) the portion of any Net Liquidation Proceeds, Net Insurance Proceeds and
Net Condemnation Proceeds allocable to principal of the related Mortgage Loan and allocable to the Non-Pooled Trust Notes for
such Mortgage Loan received during the related Due Period or advanced with respect to such Due Period; and (c) to the extent not
included in the preceding clauses (a) and (b) above, any other full or partial recoveries allocable to principal of the Non-Pooled
Trust Notes for the related Mortgage Loan, including Net REO Income, received during the related Due Period.

 

“Principal
Prepayment”: With respect to any Mortgage Loan (or any Companion Loan, as the case may be), any payment of principal
by a Borrower that is received or recovered in advance of its scheduled Maturity Date and applied to reduce the Principal Balance
of such Mortgage Loan (or Companion Loan, as applicable) in advance of its scheduled Maturity Date, such principal payments to
be apportioned between the Mortgage Loan and the related Companion Loans pursuant to the allocations set forth in the related
Co-Lender Agreements.

 

“Privileged
Information”: Any (i)  strategically sensitive information that the applicable Special Servicer has reasonably
determined could compromise the Trust Fund’s position in any ongoing or future negotiations with the related Borrower or
other interested party and (ii) information subject to attorney-client privilege (and clearly and prominently identified
as such).

 

“Privileged
Person”: The Depositor and its designees, the Initial Purchasers, the Servicer, a Special Servicer, the Trustee, the
Certificate Administrator and any Person who provides the Certificate Administrator with an Investor Certification substantially
in the form of Exhibit L-1 (for Non-Borrower Affiliates) or Exhibit L-2 (for Borrower
Affiliates) hereto, as applicable, or an NRSRO Certification, which Investor Certification and NRSRO Certification may
be submitted electronically via the Certificate Administrator’s Website. Any Privileged Person that provides the certificate
set forth in the form of Exhibit L-2 shall not be entitled to any information under this Agreement, and will not be
deemed a Privileged Person for the purpose of obtaining information from the Certificate Administrator, the Servicer or the Special
Servicers, except with respect to the Distribution Date Statement.

 

“Property
Protection Expenses”: All customary and reasonable out of pocket costs and expenses incurred by the Servicer or a Special
Servicer in the performance of its respective servicing obligations, including, but not limited, to the costs and expenses incurred
in connection with (i) the preservation, restoration, operation and protection of the Mortgaged Properties which, in the Servicer’s
sole discretion, exercised in accordance with Accepted Servicing Practices, are necessary to prevent an immediate or material
loss to the Trust Fund’s

 

    	-55-

    	 

    

 

interest in the Mortgaged Properties, (ii) the payment of (A) real estate taxes, assessments, ground
rents and governmental charges that may be levied or assessed against any Borrower or the Mortgaged Properties or revenues therefrom
or which become liens on such Mortgaged Properties, (B) ground lease rents or other amounts due under any ground lease, (C) insurance
premiums and (D) the out of pocket costs and expenses of the Servicer or the applicable Special Servicer, as applicable (including,
without limitation, reasonable attorneys’ fees and expenses) to the extent not paid by the applicable Borrower that are
incurred in connection with a sale of a Mortgage Loan, the negotiation of a workout of a Mortgage Loan, an assumption of a Mortgage
Loan or a release of a Mortgaged Property from the lien of a Mortgage, (iii) any enforcement or judicial proceedings, including
foreclosures and including, but not limited to, court costs, reasonable attorneys’ fees and expenses and costs for third
party experts, including Appraisers, environmental and engineering consultants, (iv) the management, operation and liquidation
of a Mortgaged Property if such Mortgaged Property is acquired by the Trust or (v) otherwise indicated herein as being a cost
or expense of the Trust Fund to be advanced by the Servicer or the Trustee, as applicable, and that are “unanticipated,”
within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii). Property Protection Expenses shall not include allocable
overhead of the Servicer or the applicable Special Servicer, such as costs for office space, office equipment, supplies and related
expenses, employee salaries and related expenses and similar internal costs and expenses or costs and expenses incurred by any
such party in connection with its purchase of a Mortgage Loan or REO Property.

 

“Purchase
Price”: With respect to any Mortgage Loan (or REO Mortgage Loan) to be purchased pursuant to Section 3.19,
a price, without duplication, equal to:

 

(i)           the
outstanding principal balance of such Whole Loan, as applicable, (or related REO Mortgage Loan) as of the date of purchase; plus

 

(ii)         all
accrued and unpaid interest on such Whole Loan, as applicable, (or the related REO Mortgage Loan at the related Mortgage Rate
in effect from time to time (exclusive of Default Interest) to but not including the Payment Date immediately preceding the Determination
Date for the related Distribution Date in which such Purchase Price is included in the Available Funds; plus

 

(iii)        all
related Administrative Advances and Servicing Advances that are unreimbursed out of collections from the related Whole Loan, as
applicable, and accrued and unpaid Advance Interest Amounts on all related Advances at the Advance Interest Rate, and any Servicing
Fees, Special Servicing Fees whether paid or then owing allocable to such Mortgage Loan and all Additional Trust Fund Expenses
in respect of such Whole Loan (or REO Mortgage Loan); plus

 

(iv)         Liquidation
Fees, if any, payable with respect to such Whole Loan.

 

With
respect to any REO Property to be sold pursuant to Section 3.19(b), “Purchase Price” shall mean the amount
calculated in accordance with the preceding sentence in respect of the related REO Mortgage Loan.

 

“Qualified
Bidder”: As defined in Section 7.01(e).

 

    	-56-

    	 

    

 

“Qualified
Institutional Buyer”: A qualified institutional buyer within the meaning of Rule 144A.

 

“Qualified
Insurer”: As used in Section 3.08, (i) with respect to a fire and extended perils insurance policy,
an insurer with an insurance financial strength rating of “A” or better by S&P and the equivalent rating
by Morningstar (or if not rated by Morningstar, at least an equivalent rating as that listed above by one other NSRO, or “A-VIII”
or better by A.M. Best Company), (ii) in the case of public liability insurance policies required to be maintained with respect
to REO Properties in accordance with Section 3.08(a), an insurance financial strength rating of “A” or
better by S&P and the equivalent rating by Morningstar (or if not rated by Morningstar, at least an equivalent rating as that
listed above by one other NSRO, or “A-VIII” or better by A.M. Best Company) (iii) in the case of the fidelity
bond and the errors and omissions insurance required to be maintained pursuant to Section 3.08(c), a claims paying
ability of at least (a) “A-” by S&P (or, if such company is not rated by S&P, is rated at least its equivalent
by one other nationally recognized statistical rating agency), (b) “A3” by Moody’s, (c) “A(low)”
by DBRS (or, if such company not rated by DBRS, is rated at least its equivalent by at least two other nationally recognized statistical
rating agencies, which may include S&P and Morningstar), (d) “A-“ by Fitch or (e) “A-:X” by A.M. Best,
or any other insurer acceptable to the Rating Agencies, as evidenced by a Rating Agency Confirmation.

 

“Qualified
Replacement Servicer”: A successor servicer that for a master servicer that (i) in the case of S&P, such servicer
is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer, and (ii) in the case of Morningstar,
such replacement servicer (a) is acting as servicer in a commercial mortgage loan securitization that was rated by a Rating
Agency within a twelve (12) month period prior to the date of determination and (b) Morningstar has not qualified, downgraded
or withdrawn the then-current rating or ratings of one or more classes of certificates citing servicing concerns with the servicer
as the sole or material factor in such rating action.

 

“Qualified
Replacement Special Servicer”: A replacement special servicer that (i) 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, and (ii) in the case of Morningstar,
such replacement special servicer (a) is acting as special servicer in a commercial mortgage loan securitization that was rated
by a Rating Agency within a twelve (12) month period prior to the date of determination and (b) Morningstar has not qualified,
downgraded or withdrawn the then-current rating or ratings of one or more classes of certificates citing servicing concerns with
the special servicer as the sole or material factor in such rating action.

 

“Rated
Final Distribution Date”: With respect to each Class of Regular Certificates, the Distribution Date occurring in June
2035.

 

“Rating
Agency”: Each of S&P and Morningstar or their successors in interest. If no such rating agency nor any successor
thereof remains in existence, “Rating Agency” shall be deemed to refer to such nationally recognized statistical rating
agency or other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee,
the Certificate Administrator, the Special Servicers and the Servicer and specific ratings

 

    	-57-

    	 

    

 

of S&P and Morningstar herein referenced
shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Rating
Agency Confirmation”: With respect to any matter, confirmation in writing (which may be in electronic form) by each
applicable Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result
in the downgrade, withdrawal or qualification of the then-current rating assigned to any Class of Certificates (if then rated
by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating Agency indicating its decision
not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement for the
Rating Agency Confirmation from such Rating Agency with respect to such matter.

 

“Real
Property”: Land or improvements thereon such as buildings or other inherently permanent structures thereon (including
items that are structural components of the buildings or structures), in each such case as such terms are used in the REMIC Provisions.

 

“Realized
Loss”: With respect to any Mortgage Loan and any Distribution Date, the amount, if any, by which the aggregate Principal
Balance of the Mortgage Loan, after giving effect to distributions thereon made with respect to such Distribution Date, exceeds
the Principal Balance of such Mortgage Loan after giving effect to any payments or collections of principal received on such Mortgage
Loan during the related Due Period and any Modification Loss or Bankruptcy Loss to such Mortgage Loan that occurred during such
Due Period. With respect to the Principal Balance Certificates and any Distribution Date, the amount, if any, by which the aggregate
Certificate Balance of the Principal Balance Certificates, after giving effect to distributions thereon made on such Distribution
Date, exceeds the aggregate Principal Balance of the Mortgage Loans, after giving effect to any distributions of principal received
on such Mortgage Loans on such Distribution Date pursuant to Section 4.01(b)-(c).

 

“Reassignment
of Assignment of Leases”: As defined in Section 2.01(b)(vii).

 

“Record
Date”: For each Distribution Date, the close of business on the last Business Day of the Interest Accrual Period relating
to the month in which such Distribution Date occurs.

 

“Recovered
Amount”: As defined in Section 1.04(c).

 

“Regular
Certificates”: Collectively, the Pooled Certificates and the Loan Specific Certificates.

 

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

 

“Regulation D”:
Regulation D under the Securities Act.

 

    	-58-

    	 

    

 

“Regulation S”:
Regulation S under the Securities Act.

 

“Regulation S
Global Certificate”: A global certificate representing interests in a Class of Regular Certificates as provided and
defined in Section 5.04(a), initially sold in offshore transactions in reliance on Regulation S in fully registered
form without interest coupons.

 

“Rehabilitated
Mortgage Loan”: Any Whole Loan that was once a Specially Serviced Whole Loan, but, in accordance with its original terms
or as modified in accordance with this Agreement, becomes performing for at least 3 consecutive Scheduled Monthly Payments (provided
that no additional event of default is foreseeable in the reasonable judgment of the applicable Special Servicer and no other
event or circumstance exists that causes such Whole Loan to otherwise constitute a Specially Serviced Whole Loan).

 

“Related
Certificates” and “Related Uncertificated Lower-Tier Interest”: For the following Classes of Uncertificated
Lower-Tier Interests, the related Class of Certificates set forth below and for the following Classes of Certificates, the related
Class of Uncertificated Lower-Tier Interest set forth below: 

	Related
    Certificates	Related
    Uncertificated Lower-Tier Interest
	Class A
    Certificates	Class LA
    Uncertificated Interest
	Class B
    Certificates	Class LB
    Uncertificated Interest
	Class C
    Certificates	Class LC
    Uncertificated Interest
	Class PR-1
    Certificates	Class LPR-1
    Uncertificated Interest
	Class PR-2
    Certificates	Class LPR-2
    Uncertificated Interest
	Class SQ-1
    Certificates	Class LSQ-1
    Uncertificated Interest
	Class SQ-2
    Certificates	Class LSQ-2
    Uncertificated Interest
	Class SQ-3
    Certificates	Class LSQ-3
    Uncertificated Interest

 

“Release
Date”: The 40th day after the later of (i) commencement of the offering of the Regular Certificates and (ii) the
Closing Date.

 

“Relevant
Action”: As defined in Section 3.31(b).

 

“Relevant
Servicing Criteria” means the Servicing Criteria applicable to a specific party, as set forth on Exhibit M
attached hereto. For clarification purposes, multiple parties can have responsibility for the same Relevant Servicing Criteria.
With respect to a Servicing Function Participant engaged by the Servicer or a Special Servicer, the term “Relevant Servicing
Criteria” may refer to a portion of the Relevant Servicing Criteria applicable to such Servicer or such Special Servicer.

 

    	-59-

    	 

    

 

“REMIC”:
A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code.

 

“REMIC
Provisions”: Provisions of the federal income tax law relating to real estate mortgage investment conduits that 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.

 

“Rents
from Real Property”: With respect to any REO Property, gross income of the character described in Section 856(c)(3)(A)
of the Code, which income, subject to the terms and conditions of that Section of the Code in its present form, does not include:

 

(i)          
except as provided in Section 856(d)(4) or (6) of the Code, any amount received or accrued, directly or indirectly, with
respect to such REO Property, if the determination of such amount depends in whole or in part on the income or profits derived
by any Person from such property (unless such amount is based on a fixed percentage or percentages of receipts or sales and otherwise
constitutes Rents from Real Property);

 

(ii)         
any amount received or accrued, directly or indirectly, from any Person if the Trust Fund owns directly or indirectly (including
by attribution) a 10 percent or greater interest in such Person determined in accordance with Sections 856(d)(2)(B) and (d)(5)
of the Code;

 

(iii)        
any amount received or accrued, directly or indirectly, with respect to such REO Property if any Person Directly Operates such
REO Property;

 

(iv)        
any amount charged for services that are not customarily furnished in connection with the rental of property to tenants in buildings
of a similar class in the same geographic market as such REO Property within the meaning of Treasury Regulations Section 1.856-4(b)(1)
(whether or not such charges are separately stated); and

 

(v)         
rent attributable to personal property unless such personal property is leased under, or in connection with, the lease of such
REO Property and, for any taxable year of the Trust Fund, such rent is no greater than 15 percent of the total rent received or
accrued under, or in connection with, the lease.

 

“REO
Account”: As defined in Section 3.18(b).

 

“REO
Disposition”: The receipt by the Servicer or the applicable Special Servicer of Liquidation Proceeds and other payments
and recoveries (including proceeds of a final sale) from the sale or other disposition of REO Property.

 

“REO
Income”: With respect to any REO Property and the related REO Mortgage Loan, all revenues, proceeds and other income
received by the applicable Special

 

    	-60-

    	 

    

 

Servicer
with respect to such REO Property or REO Mortgage Loan that do not constitute Liquidation Proceeds.

 

“REO
Mortgage Loan”: Any Mortgage Loan or a related Companion Loan as to which the related Mortgaged Property has become
an REO Property.

 

“REO
Property”: A Mortgaged Property to which title has been acquired on behalf of the Trust Fund through foreclosure, deed
in lieu of foreclosure or otherwise.

 

“Reportable
Event”: As defined in Section 12.06.

 

“Reporting
Servicer”: As defined in Section 12.08.

 

“Repurchase
Price”: An amount (a) with respect to a Mortgage Loan, (without duplication) generally equal to the sum of (i) the unpaid
principal balance of such Mortgage Loan, (ii) accrued and unpaid interest on the Mortgage Loan at the Mortgage Rate (exclusive
of the Default Rate) to and including the last day of the related Mortgage Loan Interest Accrual Period in which the repurchase
is to occur (or, in the case of a repurchase of a portion of a Mortgage Loan, an amount equal to the aggregate accrued and unpaid
interest at the Mortgage Rate (exclusive of the Default Rate) on the portion(s) of the amount in clause (i) being
reduced from the principal balance of such Mortgage Loan), (iii) unreimbursed Servicing Advances and Administrative Advances together
with Advance Interest thereon, (iv) an amount equal to all Advance Interest on outstanding Monthly Advances, (v) any unpaid Additional
Trust Fund Expenses and (vi) any other out-of-pocket expenses reasonably incurred or expected to be incurred by the Servicer,
a Special Servicer, the Certificate Administrator or the Trustee arising out of the enforcement of the repurchase obligation,
and (b) with respect to any repurchase by a single Mortgage Loan Seller of such Mortgage Loan Seller’s individual Trust
Notes, with respect to each such Trust Note, an amount (without duplication) generally equal to the sum of (i) the unpaid principal
balance of such Trust Note, (ii) accrued and unpaid interest on such Trust Note at the related Mortgage Rate (exclusive of the
Default Rate) to and including the last day of the Mortgage Loan Interest Accrual Period in which the repurchase is to occur,
(iii) unreimbursed Servicing Advances and Administrative Advances (in each case, allocable to such Trust Note pursuant to the
Co-Lender Agreement) together with Advance Interest thereon, (iv) an amount equal to all Advance Interest on outstanding Monthly
Advances (allocable to such Trust Note pursuant to the Co-Lender Agreement), (v) any unpaid trust expenses (allocable to such
Trust Note pursuant to the Co-Lender Agreement), and (vi) any other out-of-pocket expenses reasonably incurred or expected to
be incurred by the Servicer, a Special Servicer, the Certificate Administrator or the Trustee arising out of the enforcement of
the repurchase obligation (allocable to such Trust Note). No Liquidation Fee shall be payable by the Mortgage Loan Seller in connection
with a repurchase of any such Mortgage Loan (or an allocable portion of such Mortgage Loan) due to a material breach or a material
document defect pursuant to the Mortgage Loan Purchase Agreement (so long as such repurchase occurs within the 90 day time period
required by the Mortgage Loan Purchase Agreement for the Mortgage Loan Seller to cure or repurchase its interest in such Mortgage
Loan (including any applicable extended cure periods)).

 

“Repurchase
Request”: As defined in Section 2.02(b).

 

    	-61-

    	 

    

 

“Repurchase
Request Recipient”: As defined in Section 2.02(b).

 

“Request
for Release”: A request for a release signed by a Servicing Officer, substantially in the form of Exhibit D.

 

“Requesting
Holders”: As defined in Section 4.08(f).

 

“Requesting
Party”: As defined in Section 3.31.

 

“Required
Advance Amount”: With respect to any Distribution Date, an amount equal to (a) the amount of the Monthly Advance
(taking into account any Appraisal Reduction as of such Distribution Date) that would be required to be made on the related Servicer
Remittance Date by the Servicer had the Borrower not made any portion of the Scheduled Monthly Payment in respect of the related
Mortgage Loan for the related Payment Date less (b) the aggregate compensation payable on such Servicer Remittance Date to
the Servicer in respect of the Servicing Fee, to the Certificate Administrator in respect of the Certificate Administrator Fee
and to CREFC® in respect of the CREFC® Intellectual Property Royalty License Fee.

 

“Required
Appraisal Mortgage Loan”: A Mortgage Loan for which an Appraisal Reduction Event has occurred. With respect to each
Mortgage Loan as to which an Appraisal Reduction Event has occurred and which has become current and has remained current for
three consecutive Scheduled Monthly Payments, and with respect to which no other event that would cause it to be a Specially Serviced
Mortgage Loan has occurred and is continuing, such Mortgage Loan will cease to be a Required Appraisal Mortgage Loan.

 

“Reserve
Accounts”: With respect to any Mortgage Loan, reserve accounts, if any, established by the Servicer, pursuant to the
Mortgage or the Loan Agreement and any Escrow Account. Any Reserve Account may be a subaccount of a related Cash Collateral Account.
Any Reserve Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment
income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan and Section 3.07.
The Servicer shall be permitted to make withdrawals therefrom, to the extent not inconsistent with the terms of the related Mortgage
Loan, for deposit into the related Cash Collateral Account, if applicable, or the Collection Account or for the purposes set forth
under the related Mortgage Loan.

 

“Residual
Ownership Interest”: Any record or beneficial interest in the Class R Certificates.

 

“Responsible
Officer”: When used with respect to (i) the Trustee, any officer of the Corporate Trust Office of the Trustee with direct
responsibility for the administration of this Agreement and also, with respect to a particular matter, any other officer to whom
such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, and (ii) the
Certificate Administrator, any officer assigned to the Corporate Trust Services group, with direct responsibility for the administration
of this Agreement and also, with respect to a particular matter, any other officer to whom a particular matter is referred by
the Certificate Administrator because of such officer’s knowledge of and familiarity with the particular subject, and in
the case of any certification or other document required to be signed by a Responsible Officer, an authorized signatory whose
name and specimen signature appears on a list furnished 

 

    	-62-

    	 

    

 

to the Servicer or the applicable Special Servicer, as applicable, by
the Trustee or the Certificate Administrator, as applicable, as such list may from time to time be amended.

 

“Restricted
Group”: The Depositor, any Borrower, any Initial Purchaser, the Trustee, the Servicer, either Special Servicer, any
subservicer, any party considered a “sponsor” under the Exemption or any Affiliate of any of such parties.

 

“Restricted
Holder”: Any Certificateholder, Beneficial Owner of a Certificate or prospective purchaser of a Certificate that is
an owner of any interest (whether legally, beneficially or otherwise) in any related Permitted Mezzanine Loan (each such person
and such person’s agents and affiliates, upon receipt of notice from the applicable Special Servicer that any Permitted
Mezzanine Lender has accelerated any related Permitted Mezzanine Loan or commenced foreclosure proceedings against the equity
interests in the applicable Borrowers and the general partner or managing member of any Borrower pledged pursuant to any Permitted
Mezzanine Loan documents, the Certificate Administrator will require, such restricted holder to resubmit an Investor Certification
pursuant to clause (b) of the definition of “Investor Certification”; provided, that if such acceleration
was an automatic acceleration under any applicable Permitted Mezzanine Loan, no such resubmission will be required, and such Certificateholder,
Beneficial Owner of a Certificate or prospective purchaser of a Certificate (and each such person’s agents and affiliates)
will be deemed not to be a Restricted Holder, if (a) the event directly giving rise to the automatic acceleration under any
applicable Permitted Mezzanine Loan was not initiated by such person or an agent or affiliate of such person and (b) such
Permitted Mezzanine Lender is stayed from exercising, and has not commenced the exercise of, remedies associated with foreclosure
of the related collateral under such Permitted Mezzanine Loan.

 

“Restricted
Period”: The 40 day period prescribed by Regulation S commencing on the later of (a) the date upon which
the Certificates are first offered to persons other than the managers and any other distributor (as defined in Regulation S)
of the Certificates, and (b) the Closing Date.

 

“Rule 144A”:
Rule 144A under the Securities Act.

 

“Rule 144A
Global Certificate”: As defined in Section 5.04(b).

 

“Rule 144A
Information”: As defined in Section 5.01(c).

 

“Sarbanes-Oxley
Act”: The Sarbanes Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including
any interpretations thereof by the Commission’s staff).

 

“S&P”:
Standard & Poor’s Ratings Services, and its successors in interest. If neither S&P nor any successor remains in
existence, “S&P” shall be deemed to refer to such other nationally recognized statistical rating agency or other
comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate
Administrator, the Servicer and the Special Servicers and specific ratings of S&P herein referenced shall be deemed to refer
to the equivalent ratings of the party so designated.

 

    	-63-

    	 

    

 

“Scheduled
Monthly Payments”: With respect to a Mortgage Loan or Companion Loan and any Payment Date, each scheduled payment of
interest on such Mortgage Loan or Companion Loan, as applicable, required to be paid on such Payment Date by the Borrower in accordance
with the terms of the related Note or Loan Agreement.

 

“Scottsdale
A Notes”: As defined in the Preliminary Statement.

 

“Scottsdale
Co-Lender Agreement”: As defined in the Preliminary Statement.

 

“Scottsdale
Companion Loans”: As defined in the Preliminary Statement.

 

“Scottsdale
Loan Agreement”: As defined in the Preliminary Statement.

 

“Scottsdale
Loan Specific Certificates”: The Class SQ-1, Class SQ-2 and Class SQ-3 Certificates.

 

“Scottsdale
Mortgage Loan”: As defined in the Preliminary Statement.

 

“Scottsdale
Non-Trust Notes”: As defined in the Preliminary Statement

 

“Scottsdale
Note A-1-C”: As defined in the Preliminary Statement.

 

“Scottsdale
Note A-1-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Note A-2-C”: As defined in the Preliminary Statement.

 

“Scottsdale
Note A-2-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Note B-1-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Note B-2-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Note C-1-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Note C-2-S”: As defined in the Preliminary Statement.

 

“Scottsdale
Special Servicer”: Pacific Life Insurance Company, a Nebraska corporation, or its successor in interest, or if any successor
special servicer is appointed as special servicer for the Scottsdale Mortgage Loan as herein provided in Section 3.25,
such successor.

 

“Scottsdale
Trust Notes”: As defined in the Preliminary Statement.

 

“Scottsdale
Trust A Notes”: As defined in the Preliminary Statement.

 

“Scottsdale
Trust B Notes”: As defined in the Preliminary Statement.

 

“Scottsdale
Trust C Notes”: As defined in the Preliminary Statement.

 

    	-64-

    	 

    

 

“Scottsdale
Whole Loan”: As defined in the Preliminary Statement.

 

“Securities
Act”: The Securities Act of 1933, as it may be amended from time to time.

 

“Senior
Certificates”: Collectively, the Class A and Class X Certificates.

 

“Servicer”:
KeyBank National Association, a national banking association, or its successor in interest, or any successor servicer appointed
as herein provided.

 

“Servicer
Remittance Date”: With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

 

“Servicer
Termination Event”: As defined in Section 7.01(a).

 

“Servicing
Advance”: As to any Mortgage Loan, any advance made by the Servicer or the Trustee in respect of Property Protection
Expenses or any expenses incurred to protect and preserve the security for such Mortgage Loan, pursuant to Section 3.04
or Section 3.24, as applicable.

 

“Servicing
Compensation”: With respect to any Distribution Date, the related Servicing Fee and any other fees, charges or other
amounts payable to the Servicer for such Distribution Date.

 

“Servicing
Criteria” means the Servicing Criteria set forth on Exhibit M attached hereto.

 

“Servicing
Fee”: With respect to each Whole Loan and any Distribution Date, an amount accrued during the related Interest Accrual
Period (or in the case of the first Distribution Date, accrued for a period equal to the initial Interest Accrual Period) at the
Servicing Fee Rate on the Principal Balance of such Whole Loan as of the first day of the related Due Period. The Servicing Fee
will be calculated on the same basis as the Mortgage Rate is calculated.

 

“Servicing
Fee Rate”: A per annum rate with respect to each Whole Loan on the Principal Balance of such Whole Loan as of
the first day of the related Due Period equal to 0.005%.

 

“Servicing
File”: A copy of all items required to be included in the Mortgage File, together with each of the following, to the
extent such items were actually delivered to the Mortgage Loan Sellers with respect to a Mortgage Loan and (to the extent that
the identified documents existed on or before the Closing Date and the applicable reference to Servicing File relates to any period
after the Closing Date) delivered by the Mortgage Loan Seller to the Servicer: (i) a copy of any engineering reports or property
condition reports; (ii) other than with respect to a hotel property (except with respect to tenanted commercial space within
a hotel property), copies of a rent roll and, for any office, retail, industrial or warehouse property, a copy of all leases and
estoppels and subordination and non-disturbance agreements delivered to the Mortgage Loan Sellers; (iii) copies of related
financial statements or operating statements; (iv) all legal opinions (excluding attorney-client communications between the
Mortgage Loan

 

    	-65-

    	 

    

 

Seller, the Servicer, each Special Servicer and its counsel that are privileged communications or constitute legal
or other due diligence analyses), Borrower’s certificates and certificates of hazard insurance and/or hazard insurance policies
or other applicable insurance policies, if any, delivered in connection with the closing of the Mortgage Loan; (v) a copy
of the Appraisal for the related Mortgaged Property(ies); (vi) the documents that were delivered by or on behalf of the Borrower,
which documents were required to be delivered in connection with the closing of such Mortgage Loan; (vii) for any Mortgage
Loan that the related Mortgaged Property is leased to a single tenant, a copy of the lease; and (viii) a copy of all environmental
reports that were received by the Mortgage Loan Seller relating to the relevant Mortgaged Property.

 

“Servicing
Function Participant”: Any Additional Servicer, sub-servicer, Subcontractor or any other Person, other than the Servicer,
a Special Servicer, the Certificate Administrator and the Trustee, that is performing activities that address the Servicing Criteria,
unless (i) such Person’s activities relate only to 5% or less of the Mortgage Loans by unpaid principal balance as
of any date of determination or (ii) the Depositor reasonably determines that a Servicer or a Special Servicer may, for the
purposes of the Exchange Act reporting requirements pursuant to applicable Commission guidance, take responsibility for the assessment
of compliance with the Servicing Criteria of such Person. The Servicing Function Participants as of the Closing Date are listed
on Exhibit N hereto.

 

“Servicing
Officer”: Any officer or employee of the Servicer or the applicable Special Servicer, as applicable, involved in, or
responsible for, the administration and servicing of the Mortgage Loans or this Agreement and also, with respect to a particular
matter, any other officer or employee to whom such matter is referred because of such officer’s or employee’s knowledge
of and familiarity with the particular subject, and, in the case of any certification required to be signed by a Servicing Officer,
such an officer or employee whose name and specimen signature appears on a list of servicing officers furnished to the Certificate
Administrator or the Trustee by the Servicer or such Special Servicer, as applicable, as such list may from time to time be amended.

 

“Servicing
Party”: As defined in Section 12.02(b).

 

“Servicing-Released
Bid”: As defined in Section 7.01(e).

 

“Servicing-Retained
Bid”: As defined in Section 7.01(e).

 

“Servicing
Transfer Event”: With respect to any Whole Loan or Companion Loan, the occurrence of any of the following events:

 

(i)          
with respect to each Whole Loan, the Balloon Payment is delinquent and the related Borrower has not provided the Servicer, within
60 days of the related Maturity Date, with a bona fide written commitment for refinancing reasonably satisfactory in form
and substance to the Servicer, which provides that such refinancing will occur within 120 days of such related Maturity Date,
provided that the related Whole Loan (and each related Companion Loan) will become a Specially Serviced Mortgage Loan immediately
if the related Borrower fails to diligently pursue such financing or to pay any Assumed Scheduled Monthly Payment on the related
Payment

 

    	-66-

    	 

    

 

Date (subject to any applicable grace
period) at any time before the refinancing or, if such refinancing does not occur, the related Whole Loan (and each related Companion
Loan) will become a Specially Serviced Mortgage Loan at the end of such 120-day period (or for such shorter period beyond the
date on which that Balloon Payment was due within which the refinancing is scheduled to occur pursuant to the commitment for refinancing
or on which such commitment terminates); or

 

(ii)          any
Monthly Payment, including the failure to make any required escrow or reserve deposit (other than a Balloon Payment or other payment
due at maturity) is more than 60 days delinquent; or

 

(iii)         the
Servicer makes a judgment, or receives from the applicable Special Servicer a written determination of the applicable Special
Servicer, that a payment default is imminent or reasonably foreseeable and is not likely to be cured by the related Borrower within
60 days; or

 

(iv)         a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law, or the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up
or liquidation of its affairs, is entered against the related Borrower; provided that if such decree or order is discharged
or stayed within 60 days of being entered, or if, as to a bankruptcy, the automatic stay is lifted within 60 days of
a filing for relief or the case is dismissed, upon such discharge, stay, lifting or dismissal such Mortgage Loan shall no longer
be a Specially Serviced Mortgage Loan (and no Special Servicing Fees, Workout Fees or Liquidation Fees will be payable with respect
thereto and any such fees actually paid shall be reimbursed by the applicable Special Servicer); or

 

(v)          the
related Borrower shall enter into or consent to bankruptcy or the appointment of a conservator or receiver or liquidator in any
insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to such Borrower
or of or relating to all or substantially all of its property; or

 

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

 

(vii)        a
default of which the Servicer or the applicable Special Servicer, as applicable, has notice (other than a failure by such Borrower
to pay principal or interest) and which the Servicer or applicable Special Servicer determines in its good faith reasonable judgment
may materially and adversely affect the interests of the Certificateholders, if applicable, has occurred and remained unremedied
for the applicable grace period specified in the related Mortgage Loan Documents, other than the failure to maintain terrorism
insurance if such failure constitutes an Acceptable Insurance Default (or if no grace period is specified for those defaults which
are capable

 

    	-67-

    	 

    

 

of
cure, 60 days; provided that such 60-day grace period does not apply to a default that gives rise to immediate acceleration
without application of a grace period under the terms of the related Mortgage Loan); or

 

(viii)       the
Servicer or applicable Special Servicer has received notice of the foreclosure or proposed foreclosure of any lien other than
the Mortgage on the related Mortgaged Property; or

 

(ix)          the
Servicer or applicable Special Servicer determines that (i) a default (other than as described in clause (iii) above)
under the related Whole Loan is imminent or reasonably foreseeable, (ii) such default will materially impair the value of
the corresponding Mortgaged Property as security for the related Whole Loan or otherwise materially adversely affect the interests
of Certificateholders or the related Companion Loan Holders, and (iii) the default will continue unremedied for the applicable
cure period under the terms of the related Whole Loan or, if no cure period is specified and the default is capable of being cured,
for 30 days (provided that such 30-day grace period does not apply to a default that gives rise to immediate acceleration
without application of a grace period under the terms of the related Whole Loan); provided that any determination that
a Servicing Transfer Event has occurred under this clause (ix) with respect to any Whole Loan solely by reason of
the failure (or imminent failure) of the related Borrower to maintain or cause to be maintained insurance coverage against damages
or losses arising from acts of terrorism may only be made by the applicable Special Servicer.

 

“Similar
Law”: As defined in Section 5.02(m).

 

“Special
Servicer”: (a) KeyBank National Association, a national banking association, or its successor in interest, or if any
successor special servicer is appointed as special servicer for the Pearlridge Mortgage Loan as herein provided in Section 3.25,
such successor; and (b) Pacific Life Insurance Company, a Nebraska corporation, or its successor in interest, or if any successor
special servicer is appointed as special servicer for the Scottsdale Mortgage Loan as herein provided in Section 3.25,
such successor.

 

“Special
Servicer Termination Event”: As defined in Section 7.01(b).

 

“Special
Servicing Compensation”: With respect to any Mortgage Loan, any of the Special Servicing Fee, the Workout Fee, Liquidation
Fee and any other fees, charges or other amounts that are due to the applicable Special Servicer hereunder.

 

“Special
Servicing Fee”: With respect to each Specially Serviced Mortgage Loan and each Whole Loan and any Distribution Date,
an amount accrued during the related Due Period at the Special Servicing Fee Rate on the Principal Balance of such Specially Serviced
Mortgage Loan and each Whole Loan as of the first day of such Special Servicing Period. The Servicing Fee will be calculated on
the same basis as the Mortgage Rate is calculated.

 

“Special
Servicing Fee Rate”: A rate equal to 0.25% per annum.

 

    	-68-

    	 

    

 

“Special
Servicing Period”: Any Interest Accrual Period during which a Mortgage Loan is at any time a Specially Serviced Mortgage
Loan.

 

“Specially
Serviced Mortgage Loan”: Any Mortgage Loan, any related Companion Loan and REO Mortgage Loan as to which a Servicing
Transfer Event has occurred and is continuing.

 

“Startup
Day”: The Closing Date.

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities industry) of any Whole Loan but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to such Whole Loan under the direction or authority of the Servicer
(or a sub-servicer of the Servicer), the applicable Special Servicer or an Additional Servicer (or a sub-servicer of an Additional
Servicer).

 

“Successful
Bidder”: As defined in Section 7.01(e).

 

“Tax
Returns”: The federal income tax returns on IRS Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income
Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interestholders of REMIC Taxable Income or Net Loss Allocation,
or any successor forms, to be filed on behalf of each of the Trust REMICs due to its classification as a REMIC under the REMIC
Provisions, together with any and all other information, reports or returns that may be required to be furnished to the Certificateholders
or filed with the IRS or any other governmental taxing authority under any applicable provisions of federal tax law or applicable
state and local tax law.

 

“Temporary
Regulation S Global Certificate”: As defined in Section 5.04(a).

 

“Terminated
Party”: As defined in Section 7.01(d).

 

“Terminating
Party”: As defined in Section 7.01(d).

 

“Termination
Date”: The Distribution Date on which the Trust Fund is terminated pursuant to Section 10.01.

 

“Termination
Event”: A Servicer Termination Event or Special Servicer Termination Event, as applicable.

 

“Territorial
Savings Ground Lease”: The ground lease dated February 29, 1972 between Kanoa Estate, Inc., as lessee, and Territorial
Savings Bank, as lessor, as affected by that certain (i) assignment of lessor’s interest in lease dated September 30, 1981,
between Kanoa Estate, Inc. and Territorial Savings and Loan Association, (ii) letter agreement dated June 3, 2002, between Territorial
Savings and Loan Association and Watercress Associates, LP, LLLP and (iii) lease modification agreement no. 1 dated February 6,
2013 between Territorial Savings Bank (the successor in interest to Territorial Savings and Loan Association) and the Pearlridge
Borrower.

 

    	-69-

    	 

    

 

“Title
Insurance Policy”: As defined in Section 2.01(b)(x).

 

“Trust”:
The trust created hereby and to be administered hereunder. The Trust shall be named “WP Glimcher Mall Trust 2015-WPG”.

 

“Trust
A Note”: Any of the Pearlridge Note A-1-S, the Pearlridge Note A-2-S, the Scottsdale Note A-1-S and the Scottsdale Note
A-2-S.

 

“Trust
B Note”: Any of the Pearlridge Note B-1-S, the Pearlridge Note B-2-S, the Scottsdale Note B-1-S and the Scottsdale Note
B-2-S.

 

“Trust
C Note”: Any of the Pearlridge Note C-1-S, the Pearlridge Note C-2-S, the Scottsdale Note C-1-S and the Scottsdale Note
C-2-S.

 

“Trust
Fund”: The corpus of the trust created hereby and to be administered hereunder, consisting of: (i) such Mortgage
Loans as from time to time are subject to this Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans; (iii) the Trust’s interest in any REO Property
or other security; (iv) the Trust’s interest in all revenues, income or proceeds received in respect of any REO Property;
(v) the Servicer’s, each Special Servicer’s and the Trustee’s rights under the insurance policies with
respect to the Mortgage Loans required to be maintained pursuant to this Agreement and any proceeds thereof; (vi) the Trust’s
interest in any Assignments of Leases and any security agreements; (vii) the Trust’s interest in any indemnities or
guaranties given as additional security for any Mortgage Loans; (viii) the Trust’s interest in any environmental indemnity
agreements relating to the Mortgaged Properties; (ix) the rights and remedies under the Mortgage Loan Purchase Agreement;
(x) the rights of the Trustee in any Lock Box Accounts, Cash Collateral Accounts, Reserve Accounts and Escrow Accounts; (xi) the
Uncertificated Lower-Tier Interests; (xii) $100 to be deposited by the Depositor into the Upper-Tier Distribution Account on the
Closing Date in respect of the Class X Certificates; (xiii) the Collection Account, the Interest Reserve Account, the Lower-Tier
Distribution Account and the Upper-Tier Distribution Account; and (xiv) the proceeds of any of the foregoing.

 

“Trust
Note”: As defined in the Preliminary Statement.

 

“Trust
REMICs”: The Lower-Tier REMIC and the Upper-Tier REMIC, individually or collectively as the context may require.

 

“Trustee”:
Wells Fargo Bank, National Association, in its capacity as trustee of the Trust Fund, or its successor in interest, or any successor
trustee appointed as herein provided.

 

“Trustee
Fee”: The monthly fee which the Trustee is to be paid from the Certificate Administrator Fee.

 

“Uncertificated
Lower-Tier Interests”: Any of the Class LA, Class LB, Class LC, Class LPR-1, Class LPR-2, Class
LSQ-1, Class LSQ-2 and Class LSQ-3 Uncertificated Interests.

 

“Unliquidated
Advance”: Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that
made the Advance hereunder, on the

 

    	-70-

    	 

    

 

one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount
pursuant to Section 3.06(b) but that has not been recovered from the Borrower or otherwise from collections on or
the proceeds of the Mortgage Loan or related REO Property in respect of which the Advance was made.

 

“Unscheduled
Payments”: With respect to a Whole Loan, all Net Liquidation Proceeds, Net Condemnation Proceeds and Net Insurance Proceeds
payable under such Whole Loan, the Purchase Price of any Whole Loan that is repurchased or purchased pursuant to the Mortgage
Loan Purchase Agreement and any other payments under or with respect to such Whole Loan not scheduled to be made, including Principal
Prepayments received by the Servicer, but excluding Yield Maintenance Default Premiums during such Due Period.

 

“Upper-Tier
Distribution Account”: A trust account or subaccount created and maintained as a separate trust account or a subaccount
of a separate trust account by the Certificate Administrator pursuant to Section 3.05(e), which shall be entitled,
“Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit of the Trustee and the Holders of
JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series 2015-WPG,
Upper-Tier Distribution Account” and which must be an Eligible Account or a subaccount of an Eligible Account.

 

“Upper-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Uncertificated Lower-Tier Interests, payments
made with respect to such interests, $100 to be deposited by the Depositor into the Upper-Tier Distribution Account on the Closing
Date in respect of the Class X Certificates and amounts held from time to time in the Upper-Tier Distribution Account.

 

“U.S.
Person”: Any of (i) a citizen or resident alien of the United States, (ii) a corporation, partnership (except to the
extent provided in applicable Treasury Regulations) or other entity created or organized in or under the laws of the United States,
any State of the United States or the District of Columbia, including any entity treated as a corporation or partnership for federal
income tax purposes, (iii) an estate that is subject to United States federal income tax regardless of the source of its income,
(iv) 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, certain trusts in existence on August 20, 1996 that have elected to be treated as U.S.
Persons) or (v) any other person that is disregarded as separate from its ownership for U.S. federal income tax purposes and whose
owner is described in clauses (i) through (iv) above.

 

“Voting
Rights”: The portion of the voting rights of all of the Certificates that is allocated to any Certificate or Class of
Certificates. At all times during the term of this Agreement, the percentage of the Voting Rights assigned to each Class shall
be (a) 0.0% in the case of the Class R Certificates, (b) (x) except as described in clause (y)
of this clause (b), 4% in the aggregate in the case of the Class X Certificates (for so long as the Notional Amount
of such Class has not been reduced to zero) and (y) 0% in the case of the Class X Certificates in the case of votes pertaining
to terminating and replacing a Special Servicer, and (c) in the case of any other Class of Regular Certificates, a percentage
equal to the product of the percentage of Voting

 

    	-71-

    	 

    

 

Rights remaining after allocations in (b) above multiplied by a fraction, the
numerator of which is equal to the outstanding Certificate Balance of such Class of Certificates (and solely in connection with
any vote for purposes of determining whether to remove a Special Servicer pursuant to Section 7.01(c), taking into
account any notional reduction in the Certificate Balance for Appraisal Reductions allocated to the Certificates pursuant to Section 4.08(b)
hereof), in each case, determined as of the prior Distribution Date, and the denominator of which is equal to the sum of the
aggregate outstanding Certificate Balances of all such Classes of Certificates (and solely in connection with any vote for purposes
of determining whether to remove a Special Servicer pursuant to Section 7.01(c), taking into account any notional
reduction in the Certificate Balance for Appraisal Reductions allocated to the Certificates pursuant to Section 4.08(b)
hereof), in each case, determined as of the prior Distribution Date. The Voting Rights of any Class of Certificates shall
be allocated among Holders of Certificates of such Class in proportion to their respective Percentage Interests. Any Person
exercising Voting Rights, will be required to submit a certification in the form of Exhibit L-4 that, such person is not
a Borrower, a manager of a Mortgaged Property, the Depositor, the Servicer, a Special Servicer, the Trustee, the Certificate Administrator
or an affiliate of any of the foregoing or an agent, principal, partner, member, joint venturer, limited partner, employee, representative,
director, trustee, advisor of or investor or an agent of any Borrower.

 

“Withheld
Amounts”: As defined in Section 3.05(g).

 

“Whole
Loan”: As defined in the Preliminary Statement.

 

“Workout-Delayed
Reimbursement Amount”: With respect to any Specially Serviced Mortgage Loan, the amount of any Advance made with respect
to such Mortgage Loan on or before the date such Mortgage Loan becomes (or, but for the making of three consecutive full and timely
monthly payments under its modified terms, would then constitute) a Rehabilitated Mortgage Loan, together with (to the extent
accrued and unpaid) interest on such Advances, to the extent that (i) such Advance (and accrued and unpaid interest thereon)
is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan becomes (or,
but for the making of three consecutive full and timely monthly payments under its modified terms, would then constitute) a Rehabilitated
Mortgage Loan and (ii) the amount of such Advance (and accrued and unpaid interest thereon) becomes an obligation of the
Borrower to pay such amount under the terms of the modified Mortgage Loan Documents. That any amount constitutes all or a portion
of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine that
such amount instead constitutes a Nonrecoverable Advance reimbursable in the same manner as any other Nonrecoverable Advance.

 

“Workout
Fee”: A fee equal to the product of the Workout Fee Rate and the amount of each payment of principal and interest (other
than Default Interest) made on each Rehabilitated Mortgage Loan, provided that any such Workout Fee shall be reduced by
any Excess Modification Fees received and retained by the applicable Special Servicer but only to the extent those Excess Modification
Fees have not previously been deducted from a Workout Fee or Liquidation Fee (each amount of the Work-out Fee shall be reduced
(but not to an amount less than zero) until the aggregate amount of such reductions equals such Excess Modification Fees).

 

    	-72-

    	 

    

 

“Workout
Fee Rate”: A rate equal to 0.50% with respect to each Mortgage Loan.

 

“Yield
Maintenance Default Premiums”: With respect to each Note, an amount equal to the greater of (a) 3% of the outstanding
principal balance of the related Note to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values
of all then-scheduled payments of principal and interest under the related Note assuming that all scheduled payments are made
timely and that the remaining outstanding principal and interest on the related Note is paid on the Maturity Date (with each such
payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly,
is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term
interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment
Date), over (ii) the principal amount being prepaid.

 

Section
1.02       Other Definitional Provisions. All terms defined directly or by reference in this
Agreement shall have the defined meanings set forth herein when used in any certificate or other document delivered pursuant hereto.
For purposes of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) references
to any amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (b) the
words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement
(or the certificate or other document in which they are used) as a whole and not to any particular provision of this Agreement
(or such certificate or document); (c) references to any Section, Article, Schedule or Exhibit are references to Sections,
Articles, Schedules and Exhibits in or to this Agreement (or the certificate or other document in which the reference is made),
and references to any paragraph, Section, clause or other subdivision within any Section or definition refer to such paragraph,
subsection, clause or other subdivision of such Section or definition; (d) the term “including” means “including
without limitation”; (e) references to any law or regulation refer to that law or regulation as amended from time to
time and include any successor law or regulation; (f) references to any Person include that Person’s successors and
permitted assigns; (g) references to any agreement refer to that agreement as amended, supplemented or otherwise modified
from time to time; and (h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation
of any provision hereof.

 

Section
1.03      Certain Calculations. Unless otherwise specified herein, the following provisions
shall apply:

 

(a)         
All calculations of interest with respect to the Mortgage Loans provided for herein shall be made as set forth in such Mortgage
Loans with respect to the calculation of the related Mortgage Rate.

 

(b)         
Any Mortgage Loan payment is deemed to be received on the date such payment is actually received in immediately available funds
by the Servicer, the applicable Special Servicer or the Certificate Administrator; provided, however, that for purposes
of calculating distributions on the Certificates, Principal Prepayments with respect to any Mortgage Loan are deemed to be received
on the date they are applied in accordance with Section 3.01(b) to reduce the outstanding principal balance of such
Mortgage Loan on which interest accrues.

 

    	-73-

    	 

    

 

(c)        
Absent express provisions in the Mortgage Loan Documents, all amounts collected by or on behalf of the Trust in respect of any
Mortgage Loan in the form of payments from the Borrowers, Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in
the absence of such express provisions and in any event after an event of default under the related Mortgage Loan (to the extent
not cured or waived) will be deemed allocated for purposes of collecting amounts due under such Mortgage Loan, in each case only
to the extent such amount is an obligation of the related Borrower in the related Loan Documents and exclusive of any amounts
allocable to the related Companion Loans pursuant to the related Co-Lender Agreement, in the following order of priority: first,
as a recovery of any unreimbursed Advances with respect to the related Mortgage Loan and unpaid Advance Interest Amount and, if
applicable, unreimbursed and unpaid Servicing Fees and expenses of the Trust with respect to the related Mortgage Loan; second,
as a recovery of Nonrecoverable Advances and any Advance Interest Amount on those Nonrecoverable Advances, to the extent previously
allocated from principal collections with respect to the related Mortgage Loan; third, to the extent not previously allocated
pursuant to clause first, as a recovery of accrued and unpaid interest on such Mortgage Loan (exclusive of default
interest) to the extent of the excess of (i) accrued and unpaid interest on such Mortgage Loan at the related Mortgage Rate
through and including the end of the related Mortgage Loan Interest Accrual Period, over (ii) the cumulative amount of the
reductions (if any) in the amount of related Monthly Advances for such Mortgage Loan that have occurred in connection with related
Appraisal Reductions (to the extent collections have not been allocated as recovery of accrued and unpaid interest pursuant to
clause fifth below on earlier dates); fourth, to the extent not previously allocated pursuant to clause first,
as a recovery of principal of such Mortgage Loan then due and owing, including by reason of acceleration of such Mortgage Loan
following a default thereunder (or, if the Mortgage Loan has been liquidated, as a recovery of principal to the extent of its
entire remaining unpaid principal balance), first to the Pearlridge Trust A Notes and Scottsdale Trust A Notes, pro rata
and pari passu; second, to the Pearlridge Trust B Notes and Scottsdale Trust B Notes, pro rata and pari passu,
in each case until their respective principal balances have been reduced to zero; and then to the Pearlridge Trust C Notes and
Scottsdale Trust C Notes, pro rata and  pari passu, in each case until their respective principal balances have
been reduced to zero; fifth, as a recovery of accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative
amount of the reductions (if any) in the amount of the interest portion of the related Monthly Advances for such Mortgage Loan
that have occurred in connection with related Appraisal Reductions (to the extent collections have not been allocated as recovery
of accrued and unpaid interest pursuant to this clause fifth on earlier dates); sixth, as a recovery of amounts to
be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes, assessments and insurance
premiums and similar items relating to such Mortgage Loan; seventh, as a recovery of any other reserves to the extent then required
to be held in escrow with respect to such Mortgage Loan; eighth, as a recovery of any Yield Maintenance Default Premium then due
and owing under such Mortgage Loan; ninth, as a recovery of any assumption fees, assumption application fees, Modification Fees
or consent fees then due and owing under such Mortgage Loan; tenth, as a recovery of any default interest and late payment charges
then due and owing under such Mortgage Loan; eleventh, as a recovery of any other amounts then due and owing under such Mortgage
Loan other than remaining unpaid principal; and twelfth, as a recovery of any remaining principal of such Mortgage Loan to the
extent of its entire remaining unpaid principal balance; provided that, to the extent required under the REMIC Provisions,
payments or

 

    	-74-

    	 

    

 

proceeds received with respect to any partial release of a Mortgaged Property (including for these purposes, following
a casualty or condemnation) if, immediately following such release, the loan-to-value ratio of the related Mortgage Loan exceeds
125% (based on the value of the related real property only, and excluding the value of any personal property and going concern
value), must be allocated to reduce the Principal Balance of the related Mortgage Loan in the manner permitted by such REMIC Provisions.

 

(d)         
Collections by or on behalf of the Trust in respect of any REO Property (exclusive of the amounts to be allocated to the payment
of the costs of operating, managing, leasing, maintaining and disposing of such REO Property and, if applicable) will be deemed
allocated for purposes of collecting amounts due under the deemed REO Mortgage Loan, in each case only to the extent such amount
is or was an obligation of the related borrower in the related Mortgage Loan Documents and exclusive of any amounts allocable
to the related Companion Loan pursuant to the related Co-Lender Agreement, in the following order of priority: first, as a recovery
of any unreimbursed Advances with respect to the related Mortgage Loan and interest on all Advances and, if applicable, unreimbursed
and unpaid expenses and fees of the Trust with respect to the related Mortgage Loan; second, as a recovery of Nonrecoverable Advances
or interest on those Nonrecoverable Advances, to the extent previously allocated from principal collections with respect to the
related Mortgage Loan; third, to the extent not previously allocated pursuant to clause first, as a recovery of accrued
and unpaid interest on such Mortgage Loan (exclusive of default interest) to the extent of the excess of (i) accrued and
unpaid interest on such Mortgage Loan at the related Mortgage Rate through and including the end of the related Mortgage Loan
Interest Accrual Period, over (ii) the cumulative amount of the reductions (if any) in the amount of the interest portion
of the related Monthly Advances for such Mortgage Loan that have occurred in connection with related Appraisal Reductions (to
the extent collections have not been allocated as recovery of accrued and unpaid interest pursuant to clause fifth
below on earlier dates); fourth, to the extent not previously allocated pursuant to clause first, as a recovery of
principal of such Mortgage Loan to the extent of its entire unpaid principal balance (or, if the related Mortgage Loan has been
liquidated, as a recovery of principal to the extent of its entire remaining unpaid principal balance), first to the Trust A Notes
and then to the Trust B Notes, in each case until their respective principal balances have been reduced to zero; fifth, as a recovery
of accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative amount of the reductions (if any) in the
amount of the interest portion of the related Monthly Advances for such Mortgage Loan that have occurred in connection with related
Appraisal Reductions (to the extent collections have not been allocated as recovery of accrued and unpaid interest pursuant to
this clause fifth on earlier dates); sixth, as a recovery of any Yield Maintenance Default Premium then due and owing
under such Mortgage Loan; seventh, as a recovery of any default interest and late payment charges then due and owing under such
Mortgage Loan; eighth, as a recovery of any assumption fees, assumption application fees, Modification Fees or consent fees then
due and owing under such Mortgage Loan; and ninth, as a recovery of any other amounts then due and owing under such Mortgage Loan.

 

(e)         
For purposes of accruing interest, Servicing Fees, Special Servicing Fees, Certificate Administrator Fees, and calculating Pass-Through
Rates, each Mortgage Loan will be deemed to have a Principal Balance or Notional Amount on the first day of the Interest Accrual
Period equal to the Principal Balance or Notional Amount of such Mortgage Loan, as of the Payment Date of such Mortgage Loan that
occurs in the calendar month in which such Interest

 

    	-75-

    	 

    

 

Accrual Period commences (after giving effect to all payments received in
respect of such Mortgage Loan on or before such Payment Date).

 

(f)          
Notwithstanding anything to the contrary in the related Co-Lender Agreement, but without changing any allocations under the related
Co-Lender Agreement between a Mortgage Loan and the related Companion Loans, upon liquidation of such Mortgage Loan, a related
Trust Note or any related REO Property, all Net Liquidation Proceeds received with respect to such Mortgage Loan or such Trust
Note shall be applied so that amounts allocated as a recovery of accrued and unpaid interest on such Mortgage Loan or such Trust
Note, as applicable, will not, for purposes of making distributions on the Certificates, include accrued and unpaid interest on
such Mortgage Loan that has not been advanced by the Servicer as a result of Appraisal Reductions with respect to such Mortgage
Loan or such Trust Note, as applicable (“Appraisal Reduced Interest”). After the adjusted interest amount is
so allocated, any remaining Net Liquidation Proceeds received with respect to such Mortgage Loan or such Trust Note, as applicable,
shall be allocated to pay principal on such Mortgage Loan or such Trust Note, as applicable, until the unpaid principal amount
thereof has been reduced to zero. Any remaining Net Liquidation Proceeds received with respect to such Mortgage Loan or such Trust
Note, as applicable, would then be allocated to pay Appraisal Reduced Interest.

 

(g)         
All net present value calculations and determinations made under this Agreement with respect to a Mortgage Loan, related Companion
Loans or a Mortgaged Property or REO Property (including for purposes of the definition of “Accepted Servicing Practices”)
shall be made using a discount rate appropriate for the type of cash flows being discounted; namely (i) for principal and
interest payments on such Mortgage Loan or Companion Loan or sale of such Whole Loan by the applicable Special Servicer the higher
of (1) the rate determined by the Servicer or the applicable Special Servicer, as applicable, that approximates the market rate
that would be obtainable by the related Borrower on similar debt of the related Borrower as of such date of determination and
(2) the Mortgage Rate on such Mortgage Loan or Companion Loan based on its outstanding principal balance and (ii) for all
other cash flows, including property cash flow, the “discount rate” set forth in the most recent Appraisal (or update
of such Appraisal).

 

Section
1.04      Certain Adjustments to the Principal Distributions on the Certificates. (a) To
the extent not specifically provided otherwise elsewhere in this Agreement, if any party hereto is reimbursed out of general collections
on the Mortgage Loans on deposit in the Collection Account for any unreimbursed Advances that have been or are determined to be
Nonrecoverable Advances (together with interest accrued and payable thereon pursuant to Section 3.06, Section 3.24
or Section 4.07, as applicable, to the extent such interest was paid hereunder from a source other than Default
Interest or late payment charges), then (for purposes of calculating distributions on the Certificates) each such reimbursement
and payment of interest shall be deemed to have been made:

 

first,
out of any amounts then on deposit in the Collection Account that represent payments or other collections of principal received
by the Trust Fund with respect to the related Mortgage Loan (first from amounts allocable to the related Trust C Notes, then from
amounts allocable to the related Trust B Notes and then from amounts allocable to the related Trust A Notes) that, but for their
application to reimburse a Nonrecoverable Advance and/or to pay

 

    	-76-

    	 

    

 

interest thereon, would be included in the related Loan Specific
Available Funds or the Available Funds, as applicable, for the related Distribution Date;

 

second,
out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by
the Trust Fund with respect to the related Mortgage Loan that, but for their application to reimburse a Nonrecoverable Advance
and/or to pay interest thereon, would be included in the related Loan Specific Available Funds or the Available Funds, as applicable,
for the related Distribution Date;

 

third,
out of any other amounts then on deposit in the Collection Account that may be available to reimburse the subject Nonrecoverable
Advance and/or to pay interest thereon.

 

(b)         
If and to the extent that any payment or other collection of principal of any Mortgage Loan or REO Mortgage Loan is deemed to
be applied in accordance with clause first of Section 1.04(a) to reimburse a Nonrecoverable Advance or
to pay interest thereon, and further if and to the extent that such payment or other collection of principal would constitute
part of the Certificate Principal Distribution Amount for any Distribution Date, then the Certificate Principal Distribution Amount
for such Distribution Date shall be reduced by and exclude such payment or other collection of principal.

 

(c)         
If and to the extent that any Advance is determined to be a Nonrecoverable Advance, such Advance is reimbursed out of general
principal collections on the Mortgage Loans as contemplated by Section 1.04(a) and the particular item for which such
Advance was originally made is subsequently collected out of payments or other collections in respect of the related Mortgage
Loan or REO Mortgage Loan (such item, if and to the extent so collected, a “Recovered Amount”), then (without
duplication of any amounts already included therein) the Adjusted Certificate Principal Distribution Amount for the Distribution
Date that corresponds to the Interest Accrual Period in which such item was recovered shall be increased by an amount equal to
the lesser of (i) the amount of such recovery and (ii) any previous reduction in the Adjusted Certificate Principal
Distribution Amount for a prior Distribution Date pursuant to Section 1.04(b) resulting from the reimbursement of
the subject Advance. If and to the extent that any Advance is determined to be a Nonrecoverable Advance, and interest on such
Advance is paid out of general principal collections on the Mortgage Loans as contemplated by Section 1.04(a) and
such interest on such Advance is subsequently reimbursed to the Trust Fund out of Default Interest or late payment charges collected
on the Mortgage Loans, then the Adjusted Certificate Principal Distribution Amount for the Distribution Date that corresponds
to the Interest Accrual Period in which such reimbursement to the Trust Fund occurred shall be increased by an amount equal to
the lesser of (i) the amount of such reimbursement to the Trust Fund and (ii) any previous reductions in the Adjusted
Certificate Principal Distribution Amount for prior Distribution Dates pursuant to Section 1.04(b) resulting from
the payment of such interest on such Advance. All Recovered Amounts shall be allocated first to the Class A Certificates,
and then in sequential order, to the Pooled Principal Balance Certificates, and then to the related Class of Loan Specific Certificates,
in that order, in each case as an increase in the Certificate Balance of such Class up to the amount of Realized Losses previously
allocated to such Class and not otherwise reimbursed hereunder.

 

    	-77-

    	 

    

 

Nothing
contained in this Section 1.04 is intended to limit the ability of any party hereto that is entitled to reimbursement
hereunder for any unreimbursed Advances that have been or are determined to be Nonrecoverable Advances (together with interest
accrued and payable thereon pursuant to Section 3.06, Section 3.24 or Section 4.07) to collections
of principal received by the Trust Fund with respect to the Mortgage Loans; instead the order of priority set forth in Section 1.04(a)
is a deemed allocation only for purposes of calculating distributions on the Certificates.

 

ARTICLE
II

CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES

 

Section
2.01     Conveyance of Mortgage Loans; Assignment of Mortgage Loan Purchase Agreement (a) The
Depositor, concurrently with the execution and delivery hereof, does hereby establish the Trust Fund, appoint the Trustee as trustee
of the Trust Fund, and hereby sells, transfers, assigns, sets over and otherwise conveys to the Trustee (on behalf of the Lower-Tier
REMIC) for the benefit of the Upper-Tier REMIC and the Certificateholders, without recourse (except to the extent the Depositor
has undertaken specific obligations with respect to any of the Mortgage Loans hereunder), all the right, title and interest of
the Depositor in, to and under the respective Mortgage Loans, including all rights to payment in respect thereof and all security
interests thereunder (whether in real or personal property and whether tangible or intangible) in favor of the Mortgage Loan Seller
or the Depositor and all other assets included or to be included in the Trust Fund for the benefit of the Certificateholders,
including, without limitation, Permitted Investments, REO Properties, Unscheduled Payments, Yield Maintenance Default Premiums
and proceeds of any escrow or reserve account and, in addition, conveys to the Trustee $100 to be deposited in the Upper-Tier
Distribution Account in respect of the Class X Certificates. The Depositor does also hereby transfer, assign, set over and otherwise
convey to the Trustee without recourse (except to the extent the Depositor has undertaken specific obligations with respect to
any of the Mortgage Loans hereunder) all the right, title and interest of the Depositor in, to and under the Mortgage Loan Purchase
Agreement as assignee of the Mortgage Loan Seller’s rights with respect to any Mortgage Loan including, without limitation,
all rights of the Depositor with respect to the representations, warranties and covenants of the Mortgage Loan Seller made under
the Mortgage Loan Purchase Agreement. The Depositor shall (to the extent not inconsistent with the Mortgage Loan Documents) cause
the Reserve Accounts, Cash Collateral Accounts and Lock Box Accounts to be transferred to and held in the name of the Servicer
on behalf of the Trustee, as successor to the Mortgage Loan Sellers.

 

(b)         
In connection with such transfer and assignment, the Depositor does hereby deliver to, and deposit with, the Custodian (on behalf
of the Certificate Administrator), with copies to the Servicer, the following documents or instruments with respect to each Mortgage
Loan:

 

(i)          
the original of the Note or a lost note affidavit with a customary indemnification provision together with a copy of such Note,
endorsed by the Mortgage Loan Seller without recourse in blank or to the order of the Trustee in the following form: “Pay
to the order of Wells Fargo Bank, National Association, as Trustee for the benefit of

 

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the
Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series
2015-WPG”;

 

(ii)         
each original recorded Mortgage or copy thereof showing the Mortgage Loan Seller as mortgagee, with evidence of recording thereon,
and, if the Mortgage was executed pursuant to a power of attorney, a true copy of the power of attorney certified by the public
recorder’s office, with evidence of recording thereon, or certified by a title insurance company or escrow company to be
a true and complete copy thereof;

 

(iii)         
the originals of all modifications, consolidation and extension agreements or copies thereof, if any, with evidence of recording
thereon, and the originals of all assumption agreements, if any, each executed in blank or in favor of the Trustee, or certified
by a title insurance company or escrow company to be a true and complete copy thereof;

 

(iv)        
an original Assignment of Mortgage for each Mortgage, in form and substance acceptable for recording, executed in blank or to
“Wells Fargo Bank, National Association, as Trustee for the benefit of the holders of JP Morgan Chase Commercial Mortgage
Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series 2015-WPG”, without recourse;

 

(v)         
the originals of all intervening Assignments of Mortgage with evidence of recording thereon, or an original blanket intervening
Assignment of Mortgage with evidence of recording thereon retained by the Mortgage Loan Seller, or in each case, a copy thereof
with evidence of recording thereon certified by the Mortgage Loan Seller to be a true and complete copy of the original thereof;

 

(vi)        
if the related Assignment of Leases is separate from the Mortgage, an original or a certified copy of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of assignment from the named assignee;

 

(vii)       
if the related Assignment of Leases is separate from the Mortgage, an original assignment of such Assignment of Leases (a “Reassignment
of Assignment of Leases”), in recordable form, executed in blank or in favor of the Trustee, which assignment may be
effected in the related Assignment of Mortgage;

 

(viii)      
a copy of the UCC-1 (or its successor form) financing statement or statements relating to each Mortgage Loan and any related pledge
agreement, together with a form UCC-2 or UCC-3, or successor UCC forms thereof, which upon inserting applicable filing information
will be in a form suitable for filing in the jurisdiction in which the related Mortgaged Property is located, showing a complete
chain of the assignment from the Mortgage Loan Seller to the Trustee of the Mortgage Loan Seller’s security interest in
the personal property constituting security for repayment of such Mortgage Loan currently designated of record in blank or in
favor of the Trustee for the benefit of the Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial
Mortgage Pass-Through Certificates, Series 2015-WPG;

 

    	-79-

    	 

    

 

(ix)        
the original of each guaranty agreement, if any, constituting additional security for the repayment of such Mortgage Loan, together
with (A) each original intervening assignment (or a copy thereof) of each such item of additional security showing a complete
chain of assignment from the original beneficiary of such item of additional security, and (B) an original assignment (or
a copy thereof) of each such item of additional security signed by the record holder of the Mortgage in blank or in favor of the
Trustee for the benefit of the Certificateholders;

 

(x)         
the original lender’s title insurance policies or copies thereof effective as of the date of the origination of the Mortgage
Loan, together with all endorsements or riders that were issued with or subsequent to the issuance of such policy, insuring the
priority of the Mortgage as a lien on the contract vendee and fee interests in the Mortgaged Property, or if such policy has not
yet been issued (a) an original or copy of a marked up commitment, interim binder, preliminary title report or the pro forma
title insurance policy marked as binding and countersigned by the title insurance company or otherwise agreed to as binding by
the title insurance company and (b) upon issuance, the original title insurance policy or a copy thereof (such title insurance
policies for each Mortgage Loan, each, a “Title Insurance Policy” and, collectively, the “Title Insurance
Policies”);

 

(xi)         
if the related security agreement is separate from the Mortgage, the original executed version or counterpart thereof of such
security agreement and the assignment thereof to Trustee;

 

(xii)        
the original of the Loan Agreement relating to such Mortgage Loan, if any;

 

(xiii)       copies
of the original Management Agreements for the Mortgaged Property;

 

(xiv)       if
the related assignment of contracts is separate from the Mortgage, the original executed version of such assignment of contracts
and the assignment thereof to the Trustee;

 

(xv)        if
any related Lock Box Agreement or Cash Collateral Account Agreement is separate from the Mortgage or Loan Agreement, a copy thereof;
with respect to the Reserve Accounts, Cash Collateral Accounts and Lock Box Accounts, if any, a copy of the UCC-1 (or its successor
form) financing statements, if any, submitted for filing with respect to each Mortgage Loan Seller’s security interest in
the Reserve Accounts, Cash Collateral Accounts and Lock Box Accounts and all funds contained therein and UCC-3 (or its successor
form) financing statements assigning such security interest to the Trustee on behalf of the Certificateholders;

 

(xvi)       any
and all amendments, modifications and supplements to, and waivers related to, any of the foregoing;

 

(xvii)      with
respect to the Pearlridge Mortgage Loan, a copy of (A) the Territorial Savings Ground Lease and (B) the Kamehameha Schools Ground
Leases;

 

    	-80-

    	 

    

 

(xviii)     an
original or copy of any related environmental insurance policy with respect to such Mortgage Loan;

 

(xix)       
a copy of each letter of credit, if any, related to such Mortgage Loan, with the original letter of credit to be delivered to
the Servicer; and

 

(xx)        
a copy of all other material documents delivered at the closing of the Mortgage Loan, including any escrow agreement, as evidenced
by the related closing list prepared by originating counsel in connection with the closing, which list may be an index to a closing
binder.

 

In
addition, the Depositor shall deliver to the Servicer, copies of the original Environmental Reports of the Mortgaged Properties
made in connection with origination of the Mortgage Loans.

 

(c)         
In addition to the documents enumerated above, the Depositor will, from time to time, deliver copies or originals, as applicable,
of all financial statements, rent rolls, third party reports, stacking plans and other similar documents as the Servicer may request
in order for the Servicer to comply with its obligations hereunder; provided that in no event will the Depositor be required
to deliver, or cause the Mortgage Loan Seller to deliver, any information reasonably considered by the Depositor to be proprietary.

 

(d)         
Promptly after the Closing Date (and, in any event, within 90 days from the Closing Date), the Mortgage Loan Seller (with
respect to each Mortgage Loan sold to the Depositor by such Mortgage Loan Seller) shall, to the extent possession thereof has
been delivered to it along with any related information, at the expense of the Depositor (1) submit for recording (a) each
Assignment of Mortgage referred to in Section 2.01(b)(iv) that has not yet been submitted for recording and (b) each
Reassignment of Assignment of Leases referred to in Section 2.01(b)(vii) (if not otherwise included in the related
Assignment of Mortgage) that has not yet been submitted for recording; and (2) submit for filing each UCC-2 or UCC-3 (or
successor forms thereof) financing statement referred to in Section 2.01(b)(viii) and (b)(xv) (at the cost
of the Mortgage Loan Seller in the case of financing statements referred to in clause (b)(xv)) that has not yet been
submitted for filing. If any such document is lost or returned unrecorded because of a defect therein, the Custodian will return
such documents to the Depositor and the Depositor shall promptly prepare or cause to be prepared a substitute document for signature
by the Mortgage Loan Seller and the Mortgage Loan Seller shall promptly execute, submit for recording, and re-deliver such substitute
recorded documents to the Certificate Administrator. The Custodian shall, promptly upon receipt of the original recorded copy
of each recorded Assignment of Mortgage or Reassignment of Assignment of Leases (and in no event later than five Business Days
following such receipt) deliver such original to the Custodian, with copies to the Servicer. Notwithstanding anything to the contrary
contained in this Section 2.01, in those instances where the public recording office retains the original Mortgage,
Assignment of Mortgage or Reassignment of Assignment of Leases, if applicable, after any has been recorded, the obligations hereunder
of the Depositor shall be deemed to have been satisfied upon delivery to the Custodian of a copy of such Mortgage, Assignment
of Mortgage or Reassignment of Assignment of Leases, if applicable, certified by the public recording office to be a true and
complete copy of the recorded original thereof. The Mortgage

 

    	-81-

    	 

    

 

Loan Seller shall promptly submit the UCC financing statements referred
to in Section 2.01(b)(viii) and (b)(xv) to be filed in the applicable public recording office and upon receipt
of an acknowledgement copy of such financing statement will promptly deliver such copy to the Custodian, with evidence of filing
thereon. Copies of recorded or filed Assignments of Mortgages, Reassignments of Assignment of Leases and UCC financing statements
shall be delivered to the Custodian by the Depositor or Servicer, as applicable to the extent received by them.

 

(e)         
The Depositor shall promptly deliver to the Custodian any documents relating to any Mortgage Loan that come into its possession
after the Closing Date (other than copies of documents previously delivered to the Custodian) and such documents will constitute
part of the Mortgage File.

 

(f)          
[Reserved].

 

(g)         
Notwithstanding the fact that the Notes are endorsed “Pay to the Order of Wells Fargo Bank, National Association, as Trustee
for the benefit of the Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through
Certificates, Series 2015-WPG” without recourse, the Depositor acknowledges that the form of such endorsement shall not
limit any of its obligations hereunder or any rights or remedies of the parties hereto for breach of such obligations.

 

Section
2.02     Acceptance by Certificate Administrator and the Trustee. (a) By its execution
and delivery of this Agreement, the Trustee acknowledges the assignment to it of the Mortgage Loans in good faith without notice
of adverse claims and declares, subject to any exceptions noted in an exception report to the provisions of Section 2.01
and to the further review provided herein, and the Custodian declares that it holds and will hold such documents and all others
delivered to it constituting the Mortgage File in trust, subject to the conditions set forth herein, for the use and benefit of
all present and future Certificateholders, and the use and benefit of the Trustee as holder of the Uncertificated Lower-Tier Interests.
The Custodian hereby acknowledges the receipt of the documents described in Section 2.01(b)(i) and certifies that
it has examined the Notes and that they appear on their faces to be what they purport to be, subject to an exception report delivered
with respect to those items as of the Closing Date. The Custodian agrees to review each Mortgage File the later of 90 days
after (i) the Custodian’s receipt of such Mortgage File or (ii) the Closing Date to ascertain that all documents
referred to in Section 2.01(b)(i), (ii), (iv), (viii) and (x) and, to the extent identified
to it in writing by the Depositor, the documents referred to in Section 2.01(b)(iii), (v), (vi), (vii),
(ix) and (xi) through (xxi) have been received, have been executed, appear to be what they purport to be,
purport to be recorded or filed (if applicable) and have not been torn, mutilated or otherwise defaced, and that such documents
appear on their faces to relate to the Mortgage Loans identified in the Mortgage Loan Schedule. Neither the Certificate Administrator
nor the Custodian is under any duty or obligation to inspect, review or examine any of the documents, instruments, certificates
or other papers relating to the Mortgage Loans delivered to it to determine that the same are valid, legal, effective, genuine,
enforceable, in recordable form, sufficient or appropriate for the represented purpose or that they are other than what they purport
to be on their face. In performing the tasks expressly provided for above, the Custodian may conclusively rely on the purported
due

 

    	-82-

    	 

    

 

execution and genuineness of any such document and on the purported genuineness of any signature thereon.

 

If
at the conclusion of the Custodian’s 90 day review any document or documents constituting a part of a Mortgage File
have not been executed or received, have not been recorded or filed (if required), appear to be unrelated to the Mortgage Loans
identified in the Mortgage Loan Schedule, appear not to be what they purport to be or have been torn, mutilated or otherwise defaced
(each, a “Defect”), and in either case such omission or defect materially and adversely affects either (i)
in the case of a Specially Serviced Mortgage Loan or a Rehabilitated Mortgage Loan, the value of the related Mortgage Loan or
(ii) the interests of the Certificateholders in the related Mortgage Loan, the Custodian shall promptly so notify the Depositor,
the Servicer, the applicable Special Servicer and the Mortgage Loan Seller by providing a written report, setting forth for each
affected Mortgage Loan, the nature of the defective or missing document.

 

Following
notification by the Custodian pursuant to the preceding paragraph, pursuant to the Mortgage Loan Purchase Agreement, the Mortgage
Loan Sellers or a Mortgage Loan Seller shall promptly cure or repurchase such Mortgage Loan in accordance with Section 2.03(c).
None of the Servicer, the applicable Special Servicer, the Certificate Administrator or the Trustee shall be responsible for any
loss, cost, damage or expense to the Trust Fund resulting from any failure to receive any document constituting a portion of a
Mortgage File or for any failure by the Depositor to use its best efforts to deliver any such document, as long as in each case
such document is noted on the exception report delivered by the Custodian pursuant to this Section 2.02. In acknowledging
the receipt of the Mortgage Files pursuant to the preceding paragraph, the Custodian will have no responsibility to determine
whether any document or opinion is legal, valid, binding or enforceable, whether the text of any assignment or endorsement is
in proper or recordable form (except, if applicable, to determine if the Certificate Administrator is the assignee or endorsee),
whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment
is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering any opinion is authorized
to do so or whether any signature thereon is genuine.

 

Upon
the first anniversary of the Closing Date, the Custodian shall deliver a final exception report as to any remaining documents
that are not in the Mortgage File, whereupon, within 90 days, the Depositor shall either:  (i) cause such document deficiency
to be cured; or (ii) use commercially reasonable efforts to cause the Mortgage Loan Seller to repurchase the Mortgage Loan
pursuant to the Mortgage Loan Purchase Agreement if such exception is a material Defect. 

 

The
Custodian shall hold that portion of the Trust Fund delivered to the Certificate Administrator consisting of “instruments”
(as such term is defined in Section 9-102(47) of the Uniform Commercial Code as in effect in Minnesota, on the date hereof)
in Minneapolis, Minnesota, and, except as otherwise specifically provided in this Agreement, shall not remove such instruments
from Minneapolis, Minnesota, or such other state in which the Custodian may at any time hold the Mortgage Files, unless it receives
an Opinion of Counsel (obtained by and delivered at the expense of the Person requesting the removal of such

 

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instruments) that
if the transfer of the Mortgage Loans to the Trustee is deemed not to be a sale, after such removal, the Trustee will possess
a first priority perfected security interest in such instruments.

 

(b)           
If the Servicer or the applicable Special Servicer, as applicable, (i) receives any request or demand for repurchase of the
Mortgage Loan because of a breach of or alleged breach of a representation or warranty or a Defect (any such request or demand
for repurchase or replacement, a “Repurchase Request”, and the Servicer or the applicable Special Servicer,
as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect
to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase
Request (or such a Repurchase Request is forwarded to the Servicer or applicable Special Servicer by another party hereto), then
the Repurchase Request Recipient shall deliver notice of such Repurchase Request or withdrawal of a Repurchase Request (each,
a “15Ga-1 Notice”) to the Depositor and the Mortgage Loan Seller, in each case within ten Business Days from
such party’s receipt thereof. Each Rule 15Ga-1 Notice may be delivered by electronic means.

 

Each
15Ga-1 Notice shall include (i) the identity of the related Mortgaged Property, (ii) the date the Repurchase Request
is received or the date any withdrawal of the Repurchase Request is received (or elected), as applicable, (iii) if known,
the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request
Recipient as to whether it currently plans to pursue such Repurchase Request.

 

A
Repurchase Request Recipient shall not be required to provide any information in a 15Ga-1 Notice protected by the attorney-client
privilege or attorney work product doctrines. The Mortgage Loan Purchase Agreement will provide that (i) any 15Ga-1 Notice
provided pursuant to this Section 2.02(b) is so provided only to assist the Mortgage Loan Seller and Depositor or
their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any
other requirement of law or regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request Recipient
and (B) no information provided pursuant to this Section 2.02(b) by a Repurchase Request Recipient, shall be
deemed to constitute a waiver or defense to the exercise of any legal right the Repurchase Request Recipient may have with respect
to the Mortgage Loan Purchase Agreement, including with respect to any Repurchase Request that is the subject of a 15Ga-1 Notice.

 

In
the event that the Depositor, the Certificate Administrator or the Trustee receives a Repurchase Request, such party shall promptly
forward or otherwise provide written notice of such Repurchase Request to the Servicer or to the applicable Special Servicer,
if relating to the Mortgage Loan while a Servicing Transfer Event has occurred and is continuing, and include the following statement
in the related correspondence: “This is a “Repurchase Request” under Section 2.02 of the Pooling
and Servicing Agreement relating to the WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series
2015-WPG requiring action by you as the “Repurchase Request Recipient” thereunder. Upon receipt of such Repurchase
Request by the Servicer or the applicable Special Servicer, as applicable pursuant to the prior sentence, such party shall be
deemed to be the Repurchase Request

 

    	-84-

    	 

    

 

Recipient in respect of such Repurchase Request, and such party shall comply with the procedures
set forth in this Section 2.02(b) with respect to such Repurchase Request.

 

If
the Depositor, the Certificate Administrator or the Trustee receives notice or has knowledge of a withdrawal of a Repurchase Request
of which notice has been previously received or given, and such notice was not received from or copied to the Servicer or the
applicable Special Servicer, then such party shall promptly give notice of such withdrawal to the Servicer or such Special Servicer,
as applicable.

 

Section
2.03       Representations, Warranties and Covenants of the Depositor.

(a) The Depositor hereby represents and warrants to the Trustee for its own benefit and the benefit of the Certificateholders,
the Certificate Administrator, the Servicer and each Special Servicer, as of the date hereof and as of Closing Date, that:

 

(i)          
The Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware,
with full corporate power and authority to own its assets and conduct its business, and the Depositor has taken all necessary
action to authorize the execution, delivery and performance of this Agreement and the Mortgage Loan Purchase Agreement by it,
and has the full corporate power, legal right and authority to execute, deliver and perform this Agreement and the Mortgage Loan
Purchase Agreement and all the transactions contemplated hereby and thereby, including, but not limited to, the power and authority
to sell, assign and transfer the Mortgage Loans in accordance with this Agreement;

 

(ii)         
Both this Agreement and the Mortgage Loan Purchase Agreement have been duly and validly authorized, executed and delivered by
the Depositor and, assuming due authorization, execution and delivery by the other parties hereto and thereto, constitute the
legal, valid and binding obligations of the Depositor, enforceable against the Depositor in accordance with their respective terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium
or other laws relating to or affecting creditors’ rights generally, or by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law), and all requisite corporate action has been taken by the
Depositor to make this Agreement, the Mortgage Loan Purchase Agreement and all agreements contemplated hereby valid and binding
upon the Depositor in accordance with their terms;

 

(iii)        
The execution and delivery of this Agreement and the Mortgage Loan Purchase Agreement by the Depositor and the performance and
compliance with the terms of this Agreement and the Mortgage Loan Purchase Agreement by the Depositor will not conflict with any
provision of any law or regulation to which the Depositor is subject, or conflict with or result in a breach of any of the terms,
conditions or provisions of any of the Depositor’s organizational documents or any material agreement, material contract
or instrument to which the Depositor is a party or by which it is bound, or any order or decree applicable to the Depositor, or
result in the creation or imposition of any lien on any of the Depositor’s assets or property, in each case that would materially
and

 

    	-85-

    	 

    

 

adversely
affect the ability of the Depositor to carry out the transactions contemplated by this Agreement and the Mortgage Loan Purchase
Agreement;

 

(iv)        
There is no action, suit, proceeding or investigation pending or threatened against the Depositor that, either in any one instance
or in the aggregate, if adversely determined, would draw into question the validity of this Agreement or the Mortgage Loan Purchase
Agreement or of any action taken or to be taken in connection with the obligations of the Depositor contemplated herein or therein,
or that would be likely to impair materially the ability of the Depositor to perform under the terms of this Agreement or the
Mortgage Loan Purchase Agreement;

 

(v)         
The Depositor is not in violation of, and the execution and delivery of this Agreement and the Mortgage Loan Purchase Agreement
by the Depositor and its performance and compliance with the terms of this Agreement and the Mortgage Loan Purchase Agreement
will not constitute a violation with respect to, any order or decree of any court binding on the Depositor or any order or regulation
of any federal, state or municipal or governmental agency having jurisdiction over the Depositor, or result in the creation or
imposition of any lien, charge or encumbrance that, in any such event, would have consequences that would materially and adversely
affect the financial condition of the Depositor;

 

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

 

(vii)        The
transfer by the Depositor of the Mortgage Loans to the Trustee on behalf of the Certificateholders hereunder is not made with
any intent to hinder, delay or defraud any creditors of the Depositor and the Depositor has received reasonably equivalent value
and fair consideration for the assignment of the Mortgage Loans; the Depositor is solvent and will not be rendered insolvent by
such transfer and, immediately before and after giving effect to such transfer, is able to pay its debts as they become due;

 

(viii)       There
has been no material adverse change in the financial position of the Depositor since its date of creation;

 

(ix)          The
Depositor is not involved in any litigation or arbitration proceeding relating to claims on amounts that are material in the context
of the issue of the Certificates, nor, so far as the Depositor is aware, is any such litigation or arbitration involving it pending
or threatened; and

 

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

 

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(b)          It is understood and agreed that the representations and warranties set forth in this Section 2.03 shall survive delivery
of the respective Mortgage Files to the Certificate Administrator until the termination of this Agreement and full distribution
of funds in accordance herewith, and shall inure to the benefit of the Certificateholders and the Servicer and the Special Servicers.

 

(c)          Upon discovery by the Depositor, the Custodian, the Servicer, a Special Servicer, the Trustee or the Certificate Administrator
(without implying any duty of any such Person to make, or attempt to make, such a discovery) of a material breach of any representation,
warranty or covenant of the Mortgage Loan Seller in the Mortgage Loan Purchase Agreement with respect to any Mortgage Loan, or
that a material Defect exists, such Person shall give prompt written notice thereof to the other parties hereto, and upon receipt
of such notice the Servicer or applicable Special Servicer, as applicable, shall use commercially reasonable efforts to cause
the Mortgage Loan Sellers or a Mortgage Loan Seller, to the extent obligated to do so under the Mortgage Loan Purchase Agreement,
to cure such default or defect or repurchase such Mortgage Loan under the terms of and within the time period specified by the
Mortgage Loan Purchase Agreement, it being understood and agreed that none of such Persons has an obligation to conduct any investigation
with respect to such matters; provided that any breach or document defect that would cause such mortgage loan not to be
a “qualified mortgage” within the meaning of Code Section 860G(a)(3), will be deemed to materially and adversely
affect the value of the related Mortgage Loan and the interests of the Certificateholders in the related Mortgage Loan, and with
respect to any such material breach or material document defect, the Mortgage Loan Sellers or a Mortgage Loan Seller will be required
to cure such defect or breach or to repurchase the Mortgage Loan at the Repurchase Price within ninety (90) days of the discovery
of such defect or breach.

 

(d)         
Upon receipt by the Servicer from the Mortgage Loan Seller of the Repurchase Price for a repurchased Mortgage Loan, the Servicer
shall deposit such amount in the Collection Account, and the Certificate Administrator, pursuant to Section 3.11,
shall, upon receipt of a certificate of a Servicing Officer certifying as to the receipt by the Servicer of the Repurchase Price
and the deposit of the Repurchase Price into the Collection Account pursuant to this Section 2.03(d), release or cause
to be released to the Mortgage Loan Sellers the related Mortgage File and shall execute and deliver such instruments of transfer
or assignment, in each case without recourse, representation or warranty, as shall be prepared by the Servicer to vest in the
Mortgage Loan Seller any Mortgage Loan released pursuant hereto, and the Certificate Administrator, the Trustee and the Servicer
shall have no further responsibility with regard to such Mortgage Loan.

 

(e)         
Any of the following will cause a document in the Mortgage File to be deemed to have a “Defect” and to be conclusively
presumed to materially and adversely affect the interests of Certificateholders in a Mortgage Loan and to be deemed to materially
and adversely affect the interest of the Certificateholders in and the value of a Mortgage Loan: (a) the absence from the
Mortgage File of the original signed Note, unless the Mortgage File contains a signed lost note affidavit and indemnity that appears
to be regular on its face; (b) the absence from the Mortgage File of the original signed Mortgage that appears to be regular
on its face, unless there is included in the Mortgage File either a copy of the Mortgage with evidence of recording thereon or
a copy of the Mortgage and a certificate from the Mortgage Loan Seller

 

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stating that the original signed Mortgage was sent for
recordation; (c) the absence from the Mortgage File of the item called for by clause (x) of the definition of
Mortgage File; (d) the absence from the Mortgage File of any intervening assignments required to create a complete chain
of assignments to the Trustee on behalf of the Trust, unless there is included in the Mortgage File either a copy of the assignment
with evidence of recording thereon or a copy of the intervening assignment and a certificate from the Mortgage Loan Seller stating
that the original intervening assignments were sent for filing or recordation, as applicable; (e) with respect to the Pearlridge
Mortgage Loan, the absence from the related Mortgage File of a copy of each Ground Lease; or (f) the absence from the Mortgage
File of any required letter of credit; provided, however, that no Defect (except the Defects previously described
in clauses (a) through (f) or a Defect that causes a Mortgage Loan to be other than a “qualified mortgage”
within the meaning of Code Section 860G(a)(3)) shall be considered to materially and adversely affect the value of the related
Mortgage Loan, the value of the related Mortgaged Property or the interests of the Trustee or Certificateholders unless the document
with respect to which the Defect exists is required in connection with an imminent enforcement of the mortgagee’s rights
or remedies under the related Mortgage Loan, defending any claim asserted by any Borrower or third party with respect to the Mortgage
Loan, establishing the validity or priority of any lien on any collateral securing the Mortgage Loan or for any immediate significant
servicing obligation. Notwithstanding the foregoing, the delivery of executed escrow instructions or a binding commitment to issue
a lender’s title insurance policy, as provided in clause (x) of the definition of Mortgage File herein, in lieu
of the delivery of the actual policy of lender’s title insurance, shall not be considered a Defect or Breach with respect
to any Mortgage File if such actual policy is delivered to the Certificate Administrator or a Custodian on its behalf not later
than 18 months following the Closing Date.

 

Section
2.04     Representations, Warranties and Covenants of the Servicer and the Special Servicers.
(a)(i) KeyBank National Association, as Servicer and Pearlridge Special Servicer, hereby represents and warrants to the other
parties hereto that as of the Closing Date:

 

(1)           it is a national banking association duly organized, validly existing, and in good standing under the laws of the United States;
it is, and throughout the term of this Agreement shall remain, duly authorized and qualified to transact business in the jurisdiction
where any Mortgaged Property is located to the extent required by applicable law and necessary to ensure the enforceability of
the Mortgage Loan in accordance with the terms thereof and hereof; it possesses and shall continue to possess all requisite authority,
power, licenses, permits, franchise, and approvals to conduct its business and to execute, deliver, and comply with its obligations
under this Agreement;

 

(2)           the execution and delivery of this Agreement and its performance of and compliance with the terms hereof in the manner contemplated
by this Agreement will not violate its articles of association or by-laws, or any other material instrument governing its operations,
or any laws, regulations, orders or decrees of any governmental authority applicable to it and will not constitute a default (or
any event which, with notice or lapse of time or both, would constitute a default) under any material contract, agreement, or
other instrument to which it is a party or which may be applicable to any of its assets, which violation or default would have
consequences that would materially and adversely affect its financial condition or operations or its properties taken as a whole
or its ability

 

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to perform its obligations hereunder, or materially impair the ability of the Trust to realize on the Trust Fund;

 

(3)          this Agreement constitutes its valid, legal, and binding obligation enforceable against it in accordance with its terms, subject
to bankruptcy and receivership laws and other similar laws of general application affecting rights of creditors and subject to
the application of the rules of equity, including those respecting the availability of specific performance;

 

(4)         
it has the full power and authority to enter into and consummate the transactions contemplated by this Agreement; this Agreement
has been duly executed and delivered by it;

 

(5)         
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 it have been obtained or made;

 

(6)        
there is no pending action, suit or proceeding, arbitration or governmental investigation against it, the outcome of which, in
its reasonable judgment, could reasonably be expected to prohibit it from entering into this Agreement or materially and adversely
affect its ability to perform its obligations under this Agreement; and

 

(7)         
it has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the requirements
of Section 3.08(c) hereof.

 

(ii)          Pacific
Life Insurance Company, as Scottsdale Special Servicer, hereby represents and warrants to the other parties hereto that as of
the Closing Date:

 

(1)         
it is a corporation duly organized, validly existing, and in good standing under the laws of the Nebraska; it is, and throughout
the term of this Agreement shall remain, duly authorized and qualified to transact business in the jurisdiction where any Mortgaged
Property is located to the extent required by applicable law and necessary to ensure the enforceability of the Mortgage Loan in
accordance with the terms thereof and hereof; it possesses and shall continue to possess all requisite authority, power, licenses,
permits, franchise, and approvals to conduct its business and to execute, deliver, and comply with its obligations under this
Agreement;

 

(2)         
the execution and delivery of this Agreement and its performance of and compliance with the terms hereof in the manner contemplated
by this Agreement will not violate its articles of association or by-laws, or any other material instrument governing its operations,
or any laws, regulations, orders or decrees of any governmental authority applicable to it and will not constitute a default (or
any event which, with notice or lapse of time or both, would constitute a default) under any material contract, agreement, or
other instrument to which it is a party or which may be applicable to any of its assets, which violation or default would have
consequences that would materially and adversely affect its financial condition or operations or its properties taken as a whole
or its ability to perform its obligations hereunder, or materially impair the ability of the Trust to realize on the Trust Fund;

 

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(3)         
this Agreement constitutes its valid, legal, and binding obligation enforceable against it in accordance with its terms, subject
to bankruptcy and receivership laws and other similar laws of general application affecting rights of creditors and subject to
the application of the rules of equity, including those respecting the availability of specific performance;

 

(4)         
it has the full power and authority to enter into and consummate the transactions contemplated by this Agreement; this Agreement
has been duly executed and delivered by it;

 

(5)         
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 it have been obtained or made;

 

(6)         
there is no pending action, suit or proceeding, arbitration or governmental investigation against it, the outcome of which, in
its reasonable judgment, could reasonably be expected to prohibit it from entering into this Agreement or materially and adversely
affect its ability to perform its obligations under this Agreement; and

 

(7)         
it has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the requirements
of Section 3.08(c) hereof.

 

(b)        
It is understood and agreed that the representations and warranties of the Servicer and the applicable Special Servicer set forth
in this Section shall survive delivery of the respective Mortgage Files to the Certificate Administrator or the Custodian on behalf
of the Certificate Administrator until the termination of this Agreement and full distribution of all funds in accordance herewith,
and shall inure to the benefit of the Trustee, the Certificate Administrator, the Certificateholders and the Depositor. Upon discovery
by the Depositor, the Servicer, the applicable Special Servicer or a Responsible Officer of the Trustee or the Certificate Administrator
(or upon written notice thereof from any Certificateholder) of a breach of any of the representations and warranties of the Servicer
or the applicable Special Servicer set forth in this Section, the party discovering such breach shall give prompt written notice
to the other parties hereto.

 

(c)         
The Certificate Administrator hereby represents and warrants to the Depositor, the Servicer, the Trustee and each Special Servicer,
and for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)          
The Certificate Administrator is a national banking association duly organized under the laws of the United States of America,
duly organized, validly existing and in good standing under the laws thereof;

 

(ii)         
The execution and delivery of this Agreement by the Certificate Administrator, and the performance and compliance with the terms
of this Agreement by the Certificate Administrator, will not violate the Certificate Administrator’s charter and by-laws
or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result
in the breach of, any material agreement or other instrument to which it is a party or which is applicable to it or any of its
assets,

 

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which
breach or default, in the good faith and reasonable judgment of the Certificate Administrator is likely to materially and adversely
affect the ability of the Certificate Administrator to perform its obligations under this Agreement;

 

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

 

(iv)         This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal
and binding obligation of the Certificate Administrator, enforceable against the Certificate Administrator in accordance with
the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, conservatorship, moratorium
and other laws affecting the enforcement of creditors’ rights generally and, to the extent applicable, the rights of creditors
of national banks or of “financial companies” (as defined in Section 201 of the Dodd-Frank Act) or their Affiliates,
(B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law
and (C) public policy considerations regarding the enforceability of provisions providing or purporting to provide indemnification
or contribution with respect to violations of securities laws;

 

(v)         
The Certificate Administrator is not in violation of, and its execution and delivery of this Agreement and its performance and
compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter,
or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the
Certificate Administrator’s good faith and reasonable judgment, is likely to affect materially and adversely either the
ability of the Certificate Administrator to perform its obligations under this Agreement or the financial condition of the Certificate
Administrator;

 

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

 

(vii)        No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Certificate Administrator, or compliance by the Certificate Administrator with, this Agreement or the consummation
of the transactions contemplated by this Agreement, except for any consent, approval, authorization or order which has not been
obtained or cannot be obtained prior to the actual performance by the Certificate Administrator of its obligations under this
Agreement, and which, if not obtained would not have a materially adverse effect on the ability of the Certificate Administrator
to perform its obligations hereunder.

 

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(d)          The Trustee hereby represents and warrants to the Depositor, the Servicer, the Certificate Administrator and each Special Servicer
for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)         
The Trustee is a national banking association duly organized under the laws of the United States of America, duly organized, validly
existing and in good standing under the laws thereof;

 

(ii)        
The execution and delivery of this Agreement by the Trustee, and the performance and compliance with the terms of this Agreement
by the Trustee, will not violate the Trustee’s charter and by-laws or constitute a default (or an event which, with notice
or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument
to which it is a party or which is applicable to it or any of its assets, which breach or default, in the good faith and reasonable
judgment of the Trustee is likely to materially and adversely affect the ability of the Trustee to perform its obligations under
this Agreement;

 

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

 

(iv)         This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal
and binding obligation of the Trustee, enforceable against the Trustee in accordance with the terms hereof, subject to (A) applicable
bankruptcy, insolvency, reorganization, receivership, conservatorship, moratorium and other laws affecting the enforcement of
creditors’ rights generally and, to the extent applicable, the rights of creditors of national banks or of “financial
companies” (as defined in Section 201 of the Dodd-Frank Act) or their Affiliates, (B) general principles of equity,
regardless of whether such enforcement is considered in a proceeding in equity or at law and (C) public policy considerations
regarding the enforceability of provisions providing or purporting to provide indemnification or contribution with respect to
violations of securities laws;

 

(v)          The
Trustee is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms
of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation
or demand of any federal, state or local governmental or regulatory authority, which violation, in the Trustee’s good faith
and reasonable judgment, is likely to affect materially and adversely either the ability of the Trustee to perform its obligations
under this Agreement or the financial condition of the Trustee;

 

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

 

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(vii)        No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Trustee, or compliance by the Trustee with, this Agreement or the consummation of the transactions contemplated
by this Agreement, except for any consent, approval, authorization or order which has not been obtained or cannot be obtained
prior to the actual performance by the Trustee of its obligations under this Agreement, and which, if not obtained would not have
a materially adverse effect on the ability of the Trustee to perform its obligations hereunder.

 

Section
2.05       Execution and Delivery of the Certificates and Uncertificated Lower-Tier Interests.
The Certificate Administrator acknowledges the assignment to the Trustee of the Mortgage Loans and the delivery of the Mortgage
Files to the Custodian subject to the provisions of Section 2.01 and Section 2.02 and, concurrently with
such delivery, (i) acknowledges the contribution by the Depositor of, and hereby declares that it holds, the Mortgage Loans
and other property comprising the assets of the Lower-Tier REMIC on behalf of the Lower-Tier REMIC, (ii) acknowledges the
issuance of the Uncertificated Lower-Tier Interests and the Class LT-R Interest to the Depositor in exchange for the assets
comprising the Lower-Tier REMIC, (iii) acknowledges the contribution by the Depositor of, and hereby declares that it holds,
the Uncertificated Lower-Tier Interests and other property comprising the assets of the Upper-Tier REMIC on behalf of the Upper-Tier
REMIC, (iv) acknowledges the issuance of the Regular Certificates and the Class UT-R Interest to the Depositor in exchange
for the assets comprising the Upper-Tier REMIC, and (v) pursuant to the written request of the Depositor executed by an officer
of the Depositor, has executed and caused to be authenticated and delivered to or upon the order of the Depositor, or as directed
by the terms of this Agreement, the Regular Certificates and the Class R Certificates in authorized denominations, in each
case registered in the names set forth in such order or so directed in this Agreement and duly authenticated by the Authenticating
Agent, which Certificates and Uncertificated Lower-Tier Interests evidence ownership of the entire Trust Fund.

 

Section
2.06       Miscellaneous REMIC Provisions. (a) The Class LA, Class LB, Class LC,
Class LPR-1, Class LPR-2, Class LSQ-1, Class LSQ-2 and Class LSQ-3 Uncertificated Interests are hereby designated as “regular
interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code.

 

(b)          The Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2 and Class SQ-3 Certificates are hereby
designated as “regular interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code.

 

The
Class LT-R Interest and Class UT-R Interest are hereby designated as representing the sole Classes of “residual interests”
in the Lower-Tier REMIC and the Upper-Tier REMIC, respectively, within the meaning of Section 860G(a)(2) of the Code.

 

The
Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the meaning of Section 860G(a)(9)
of the Code. The “latest possible maturity date” of the Uncertificated Lower-Tier Interests and the Regular Certificates
for purposes of Section 860G(a)(1) of the Code is the date that is the Rated Final Distribution Date.

 

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(c)          None
of the Depositor, the Trustee, the Certificate Administrator, the Servicer or the applicable Special Servicer shall enter into
any arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated
herein.

 

ARTICLE
III

ADMINISTRATION AND SERVICING

OF THE WHOLE LOANS

 

Section
3.01     Servicer to Act as Servicer; Administration of the Mortgage Loans. (a) The Servicer
and the applicable Special Servicer, each as an independent contract servicer, shall service and administer, either directly
or through sub-servicers, the Whole Loans, or, in the case of the applicable Special Servicer, the related Whole Loan, as a
collective whole, on behalf of the Trust Fund and the Trustee (as trustee for Certificateholders and as holder of the
Uncertificated Lower-Tier Interests) and the Companion Loan Holders, or, in the case of the applicable Special Servicer, the
related Companion Loan Holder, (as if they constituted a single lender), in accordance with Accepted Servicing Practices,
applicable law and the terms of the Mortgage Loan Documents and the Co-Lender Agreements. References herein to the servicing
or special servicing of the Whole Loans shall be deemed to include the servicing of the related REO Mortgage Loans, unless
the context otherwise requires in accordance with the provisions of Section 3.10(d).

 

The Servicer’s
or applicable Special Servicer’s liability for actions and omissions in its capacity as Servicer or Special Servicer, as
the case may be, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.03). Subject
to any express limitations set forth in this Agreement and the Co-Lender Agreements and consistent with Accepted Servicing Practices,
the Servicer and the applicable Special Servicer shall seek to maximize the timely and complete recovery of principal and interest
on the Whole Loans; provided, however, that nothing herein contained shall be construed as an express or implied
guarantee by the Servicer or applicable Special Servicer of the collectability of the Whole Loans. Subject only to Accepted Servicing
Practices, the Servicer and the applicable Special Servicer shall each have full power and authority, acting alone or through sub-servicers
(subject to paragraph (c) of this Section 3.01 and to Section 3.02), to do or cause to be done any and all things
in connection with such servicing and administration that are consistent with Accepted Servicing Practices and in the best interests
of the Certificateholders and the Companion Loan Holders (as if such Certificateholders and Companion Loan Holders constituted
a single lender), including, without limitation, with respect to each Whole Loan, to prepare, execute and deliver, on behalf of
the Certificateholders, the Companion Loan Holders, the Certificate Administrator and the Trustee or any of them: (i) any and all
financing statements, continuation statements and other documents or instruments necessary to maintain the lien on each Mortgaged
Property and related collateral; (ii) subject to Section 3.28, any modifications, waivers, consents or amendments to or
with respect to any documents contained in, or that should have been contained in the related Mortgage File; and (iii) any and
all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments,
with respect to the Whole Loans and the Mortgaged Properties. The Servicer or the applicable

 

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Special Servicer, as applicable, shall
deliver the originals of all instruments entered into pursuant to the preceding sentence to the Custodian for inclusion in the
Mortgage File. Subject to Section 3.11, the Trustee shall, at closing, execute and deliver to the Servicer and the applicable
Special Servicer a limited power of attorney in a form mutually agreeable to Servicer or such Special Servicer, on the one hand,
and the Trustee on the other and upon request by a Servicing Officer such other documents prepared by the Servicer and applicable
Special Servicer and necessary or appropriate to enable the Servicer and such Special Servicer to carry out their servicing and
administrative duties hereunder; provided, however, that the Trustee shall not be held liable for any negligence
with respect to, or any misuse of any such power of attorney by the Servicer or such Special Servicer. Notwithstanding anything
contained herein to the contrary, neither the Servicer nor the applicable Special Servicer shall, without the Trustee’s and
the Certificate Administrator’s written consent: (i) initiate any action, suit or proceeding directly relating to the servicing
of a Whole Loan solely under the Trustee’s name without indicating the Servicer’s or such Special Servicer’s,
as applicable, representative capacity (unless prohibited by any requirement of the applicable jurisdiction in which any such action,
suit or proceeding is brought and if so prohibited, in the manner required by such jurisdiction (provided that the Servicer
or such Special Servicer, as applicable, shall then provide five (5) Business Days’ written notice to the Trustee of the
initiation of such action, suit or proceeding (or such shorter time period as is reasonably required in the judgment of the Servicer
or the applicable Special Servicer, as applicable, made in accordance with the Accepted Servicing Practices) prior to filing such
action, suit or proceeding), and shall not be required to obtain the Trustee’s consent or indicate the Servicer’s or
such Special Servicer’s, as applicable, representative capacity), or (ii) take any action with the intent to cause, and that
actually causes, the Trustee or the Certificate Administrator to be registered to do business in any state.

 

(b)          Unless
the related Note or Loan Agreement requires a different application, the Servicer shall apply any Unscheduled Payment received
on a Whole Loan on a date other than a Payment Date first to interest accrued through the end of the Mortgage Loan Interest Accrual
Period in which such Unscheduled Payment occurs and then, the remainder of such Unscheduled Payment to the principal balance of
such Whole Loan as of the Payment Date immediately following the date of receipt of such Unscheduled Payment.

 

(c)          Each
of the Servicer and the applicable Special Servicer may enter into sub-servicing agreements with third parties with respect to
any of its respective obligations hereunder; provided that (i) any such agreement shall be consistent with the provisions
of this Agreement; (ii) no sub-servicer retained by the Servicer or a Special Servicer, as applicable, shall grant any modification,
waiver or amendment to any Mortgage Loan or any related Companion Loan or foreclose on any Mortgage Loan or any related Companion
Loan or sell any Mortgage Loan or any related Companion Loan or REO Property without the approval of the Servicer or the applicable
Special Servicer, as applicable, which approval shall be given or withheld in accordance with the procedures set forth in Section
3.28; (iii) such agreement shall be consistent with Accepted Servicing Practices and no sub-servicing agreement shall relieve
Servicer or such Special Servicer of its obligations hereunder; and (iv) the terms of this Agreement, including any restrictions
on the Servicer or such Special Servicer, as applicable, shall apply to such sub-servicer. The Servicer or the applicable Special
Servicer, as applicable, shall be responsible for all costs in connection with employing any sub-servicer. No such third party
shall be entitled to receive any amounts from the Trust Fund. Any such sub-servicing agreement may permit the

 

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sub-servicer to delegate
its duties to agents or subcontractors so long as the related agreements or arrangements with such agents or subcontractors are
consistent with the provisions of this Section 3.01(c).

 

Any sub-servicing agreement
entered into by the Servicer or the applicable Special Servicer, as applicable, shall provide that it may be assumed or terminated
without cause by the Trustee if the Trustee has assumed the duties of the Servicer or such Special Servicer, respectively, or any
successor Servicer or such Special Servicer, as applicable, without any cost, liability, obligation, penalty or termination fee
to the assuming or terminating party, the Trust Fund, upon the assumption by such party of the obligations of the Servicer or such
Special Servicer, as applicable, pursuant to Section 7.02. Notwithstanding the foregoing, the delegation of certain limited
functions (including appraisals, inspections, and insurance consultations) by the Servicer or applicable Special Servicer shall
not be considered sub-servicing agreements and shall not be subject to the provisions of this paragraph.

 

Any sub-servicing agreement,
and any other transactions or services relating to the Mortgage Loans or any related Companion Loans involving a sub-servicer,
shall be deemed to be between the Servicer or the applicable Special Servicer, as applicable, and such sub-servicer alone, and
the Trustee, the Certificate Administrator, the Trust Fund and the Certificateholders shall not be deemed parties thereto and shall
have no claims, rights, obligations, duties or liabilities with respect to the sub-servicer, except as set forth in Section
3.01(d).

 

(d)          If
the Trustee or any successor Servicer assumes the obligations of the Servicer, or if the Trustee or any successor Special Servicer
assumes the obligations of a Special Servicer, in each case in accordance with Section 7.02, the Trustee or such successor,
as applicable, to the extent necessary to permit the Trustee or such successor, as applicable, to carry out the provisions of Section
7.02, shall, without act or deed on the part of the Trustee or such successor, as applicable, succeed to all of the rights
and obligations of the Servicer or such Special Servicer, as applicable, under any sub-servicing agreement entered into by the
Servicer or such Special Servicer, as applicable, pursuant to Section 3.01(c), subject to the right of termination by the
Trustee or such successor, as applicable, set forth in Section 3.01(c). In such event, the Trustee or the successor Servicer
or applicable Special Servicer, as applicable, shall be deemed to have assumed all of the Servicer’s or the applicable Special
Servicer’s interest, as applicable, therein (but not any liabilities or obligations in respect of acts or omissions of the
Servicer or such Special Servicer, as applicable, prior to such deemed assumption) and to have replaced the Servicer or such Special
Servicer, as applicable, as a party to such sub-servicing agreement to the same extent as if such sub-servicing agreement had been
assigned to the Trustee or such successor Servicer or such successor Special Servicer, as applicable, except that the terminated
Servicer or terminated Special Servicer, as applicable, shall not thereby be relieved of any liability or obligations under such
sub-servicing agreement that accrued prior to the succession of the Trustee or the successor Servicer or the applicable successor
Special Servicer, as applicable.

 

If the Trustee or any
successor Servicer or Special Servicer, as applicable, assumes the servicing obligations of the Servicer or the applicable Special
Servicer, as applicable, upon request of the Trustee or such successor Servicer or such successor Special

 

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Servicer, as applicable,
the terminated Servicer or terminated Special Servicer shall at its own expense deliver to the Trustee or such successor Servicer
or such successor Special Servicer, as applicable, all documents and records relating to any sub-servicing agreement and the Mortgage
Loans and/or any related Companion Loans then being serviced thereunder and an accounting of amounts collected and held by it,
if any, and will otherwise use its best efforts to effect the orderly and efficient transfer of any sub-servicing agreement to
the Trustee or the successor Servicer or such successor Special Servicer, as applicable. No appointment of a sub-servicer shall
result in any additional expense to the Trustee, the Certificateholders or the Trust Fund.

 

(e)          The
relationship of each of the Servicer and the applicable Special Servicer to the Trustee and Certificate Administrator under this
Agreement is intended by the parties to be that of an independent contractor and not that of a joint venturer, partner or agent.

 

(f)          The
parties hereto acknowledge that each Whole Loan is subject to the terms and conditions of the related Co-Lender Agreement and recognize
the respective rights and obligations of the Trust, as holder of the related Mortgage Loan, and of the related Companion Loan Holders
under the related Co-Lender Agreement, including: (i) with respect to the allocation of collections on or in respect of each Whole
Loan, and the making of remittances, to the Trust, as holder of the related Mortgage Loan, and to the related Companion Loan Holders;
(ii) with respect to the allocation of expenses and losses relating to each Whole Loan, to the Trust, as holder of the related
Mortgage Loan, and to the related Companion Loan Holders and (iii) to the extent provided for under the related Co-Lender Agreement,
the consultation rights of the related Companion Loan Holders. With respect to each Whole Loan, the Servicer (if such Whole Loan
is not a Specially Serviced Mortgage Loan) or the applicable Special Servicer (if such Whole Loan has become a Specially Serviced
Mortgage Loan or the Mortgaged Property has been converted to an REO Property) shall prepare and provide to each Companion Loan
Holder all notices, reports, statements and communications to be delivered by the holder of the related Mortgage Loan under the
related Co-Lender Agreement, and shall perform all duties and obligations to be performed by a servicer and perform all servicing
related duties and obligations to be performed by the holder of the related Mortgage Loan pursuant to the related Co-Lender Agreement.
In the event of any conflict between this Agreement and the related Co-Lender Agreement, the terms of the related Co-Lender Agreement
shall control with respect to each Whole Loan.

 

(g)          Notwithstanding
anything to the contrary herein, at no time shall the Servicer or the Trustee be required to make any advance of delinquent scheduled
monthly payments of principal or interest with respect to any Companion Loan or any Administrative Advance with respect to any
Companion Loan.

 

(h)          To
the extent required under the Mortgage Loan Documents or the related Co-Lender Agreement, the Servicer shall, on behalf of the
applicable lender, maintain a note register for each Whole Loan in accordance with the Mortgage Loan Documents or the related Co-Lender
Agreement.

 

Section
3.02     Liability of the Servicer. Notwithstanding any sub-servicing agreement, any of the
provisions of this Agreement relating to agreements or arrangements between the Servicer or the applicable Special Servicer
and any Person acting as sub-servicer (or

 

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its agents or subcontractors) or any reference to actions taken through
any Person acting as sub-servicer or otherwise, the Servicer and the applicable Special Servicer, as applicable, shall remain obligated
and primarily liable to the Certificate Administrator, the Trustee and the Certificateholders for the servicing and administering
of the Mortgage Loans serviced thereby in accordance with the provisions of this Agreement without diminution of such obligation
or liability by virtue of such sub-servicing agreements or arrangements or by virtue of indemnification from the Depositor or any
other Person acting as sub-servicer (or its agents or subcontractors) to the same extent and under the same terms and conditions
as if the Servicer or applicable Special Servicer, as applicable, alone were servicing and administering the Mortgage Loans. Each
of the Servicer and the Special Servicers shall be entitled to enter into an agreement with any sub-servicer providing for indemnification
of the Servicer or the applicable Special Servicer, as applicable, by such sub-servicer. Nothing contained in this Agreement shall
be deemed to limit or modify such indemnification and no such agreement for indemnification shall be deemed to limit or modify
this Agreement.

 

Section
3.03     Collection of Certain Mortgage Loan Payments. The Servicer (with respect to each
Mortgage Loan that is not a Specially Serviced Mortgage Loan) or the applicable Special Servicer (with respect to the
applicable Specially Serviced Mortgage Loan), as applicable, shall use its reasonable efforts, consistent with Accepted
Servicing Practices, to collect all payments called for under the terms and provisions of the Mortgage Loans and to collect
income statements, rent rolls and other property related information from the related Borrowers, as required by the Mortgage
Loan Documents and the terms hereof and the applicable Special Servicer shall provide copies thereof to the Servicer as
provided herein. The Servicer shall provide reasonable advance notice to the applicable Special Servicer and Borrowers of
Balloon Payments coming due. The Servicer or Special Servicer, as applicable, may waive any late payment charge in accordance
with Accepted Servicing Practices.

 

Section
3.04     Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) With
respect to each Mortgage Loan (other than any REO Mortgage Loan), the Servicer shall maintain accurate records with respect
to each related Mortgaged Property reflecting the status of taxes, assessments and other similar items that are or may become
a lien on the related Mortgaged Property and the status of insurance premiums payable with respect thereto. From time to
time, the Servicer shall (i) use reasonable efforts to obtain all bills for the payment of such items (including renewal
premiums), and (ii) effect payment of all such bills with respect to such Mortgaged Properties prior to the applicable
penalty or termination date (or with respect to Mortgage Loans with no Escrow Accounts for such purpose, upon determining
(using efforts consistent with Accepted Servicing Practices) that the Borrower has not made such payment), in each case
employing for such purpose Escrow Payments as allowed under the terms of the related Mortgage Loan. If a Borrower fails to
make any such payment on a timely basis or collections from the Borrower are insufficient to pay any such item before the
applicable penalty or termination date, the Servicer shall advance the amount of any shortfall as a Servicing Advance unless
the Servicer determines in accordance with Accepted Servicing Practices that such Advance would be a Nonrecoverable Advance.
The Servicer shall be entitled to reimbursement of Advances, with Advance Interest Amounts, that it makes pursuant to the
preceding sentence from amounts received on or in respect of the related Mortgage Loan in respect of which such Advance
was made or if such Advance has become a Nonrecoverable Advance, from amounts received on the other Mortgage Loans, in each
case to the extent

 

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permitted by Section 3.06. No costs incurred by the Servicer in effecting the payment of taxes and
assessments on a Mortgaged Property shall, for the purpose of calculating distributions to Certificateholders, be added to the
amount owing under the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit.

 

(b)          The
Servicer shall segregate and hold all funds collected and received by it pursuant to any Mortgage Loan constituting Escrow Payments
separate and apart from any of its own funds and general assets and shall establish and maintain one or more segregated custodial
accounts (each, an “Escrow Account”), which may be subaccounts of the related Lock Box Accounts or Cash Collateral
Account, into which all Escrow Payments shall be deposited within two Business Days after receipt of properly identified funds.
The Servicer shall also deposit into each Escrow Account any amounts representing losses on Permitted Investments pursuant to Section
3.07(c) and into the applicable Escrow Account any Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds that are
required to be applied to the restoration or repair of any Mortgaged Property pursuant to the related Mortgage Loan. Escrow Accounts
shall be Eligible Accounts (except to the extent the related Mortgage Loan requires Escrow Payments to be held elsewhere) and shall
be entitled “KeyBank National Association, as Servicer, on behalf of Wells Fargo Bank, National Association, as Trustee,
for the benefit of Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG and Various Borrowers’ Escrow Account.” Withdrawals from an Escrow Account may be made by the Servicer
only:

 

(i)            to
effect timely payments of items constituting Escrow Payments for the related Mortgage;

 

(ii)           to
transfer funds to the Collection Account (or sub-account thereof) to reimburse the Servicer or the Trustee (or the Trust, in the
case of a Nonrecoverable Advance reimbursed from general collections on the Mortgage Loans), as applicable, for any Advance relating
to Escrow Payments, but only from amounts received with respect to the related Mortgage Loan that represent late collections of
Escrow Payments thereunder and only to the extent consistent with the terms of the related Mortgage Loan and this Agreement;

 

(iii)          for
application to the restoration or repair of the related Mortgaged Property in accordance with the related Mortgage Loan and Accepted
Servicing Practices;

 

(iv)         to
pay from time to time to the related Borrower any interest or investment income earned on funds deposited in the Escrow Account
if such income is required to be paid to the related Borrower under law or by the terms of the Mortgage Loan, or otherwise to the
Servicer;

 

(v)          to
remove any funds deposited in the Escrow Account that were not required to be deposited therein;

 

(vi)         to
clear and terminate the Escrow Account upon the termination of this Agreement; and

 

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(vii)        as
may otherwise be required or permitted by terms of the related Mortgage Loan.

 

Section 3.05     Collection
Account; Lower-Tier Distribution Account; Upper-Tier Distribution Account; Interest Reserve Account.

 

(a)          The
Servicer shall establish and maintain the Collection Account in the Trustee’s name, for the benefit of the Certificateholders
and the Trustee as the Holder of the Uncertificated Lower-Tier Interests. The Collection Account shall be established and maintained
as an Eligible Account. Amounts attributable to the Mortgage Loans will be assets of the Lower-Tier REMIC. The Servicer shall deposit
or cause to be deposited within one (1) Business Day of receipt of properly identified available funds (in the case of payments
by Borrowers or other collections on the Whole Loans), except as otherwise specifically provided herein, the following payments
and collections received or made by or on behalf of it on or after the Closing Date:

 

(i)           all
payments on account of principal on the Whole Loans, including the principal component of Unscheduled Payments;

 

(ii)          all
payments on account of interest on the Whole Loans and the interest portion of all Unscheduled Payments, including Default Interest,
and all Yield Maintenance Default Premiums;

 

(iii)         any
amounts required to be deposited pursuant to Section 3.07(c), in connection with net losses realized on Permitted Investments
with respect to funds held in the Collection Account;

 

(iv)         all
Net REO Income transferred from an REO Account pursuant to Section 3.18(b) and all other Net Insurance Proceeds, Net Condemnation
Proceeds and Net Liquidation Proceeds not otherwise deposited pursuant to clauses (i) and (ii) above together with
any amounts representing recoveries of Workout-Delayed Reimbursement Amounts (or Unliquidated Advances) or Nonrecoverable Advances
and interest thereon in respect of the related Whole Loans;

 

(v)          any
amounts received from Borrowers that represent recoveries of Servicing Advances, to the extent not permitted to be retained by
the Servicer as provided herein;

 

(vi)        all
Insurance Proceeds and Condemnation Proceeds and Liquidation Proceeds received in respect of any Whole Loan or REO Property together
with any recovery of Unliquidated Advances in respect of the related Whole Loans not otherwise deposited pursuant to clauses
(i), (ii) and (iv) above;

 

(vii)       any
Compensating Interest; and

 

(viii)      any
other amounts collected or received in respect of any Whole Loan that are not contemplated hereunder to be paid to the Servicer
or the applicable Special Servicer.

 

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Notwithstanding the foregoing
requirements, the Servicer need not deposit into the Collection Account any amount that the Servicer would be authorized to withdraw
immediately from such account in accordance with the terms of Section 3.12 and shall be entitled to instead immediately
pay such amount directly to the Person(s) entitled thereto; provided that such amounts shall be applied in accordance with
the terms hereof and shall be reported as if deposited in such Collection Account and then withdrawn.

 

The foregoing requirements
for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality
of the foregoing, actual payments from Borrowers in the nature of escrow payments, extension fees (if any), charges for beneficiary
statements or demands, Assumption Fees, assumption application fees, consent fees, Modification Fees, defeasance fees (if any),
loan transaction fees or amounts collected for Borrower checks returned for insufficient funds or similar fees need not be deposited
by the Servicer in the Collection Account. If the Servicer deposits in the Collection Account any amount not required to be deposited
therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding.
Charges for beneficiary statements or demands, extension fees (if any), Assumption fees, assumption application fees, consent fees,
Modification Fees or amounts collected for Borrower checks returned for insufficient funds and actually received from Borrowers
on Specially Serviced Mortgage Loans shall be promptly delivered to the applicable Special Servicer as additional servicing compensation.

 

(b)          [Reserved]

 

(c)          [Reserved]

 

(d)          The
Certificate Administrator shall be deemed to establish and maintain the Lower-Tier Distribution Account in the name of the Certificate
Administrator, for the benefit of the Trustee, the Certificateholders and the Trustee as the Holder of the Uncertificated Lower-Tier
Interests. The Lower-Tier Distribution Account shall be established and maintained as an Eligible Account or a subaccount thereof.
With respect to each Distribution Date, the Certificate Administrator shall first withdraw or be deemed to withdraw from the Lower-Tier
Distribution Account and deposit or be deemed to deposit in the Upper-Tier Distribution Account on or before such date, in each
case, the amounts of Available Funds and Yield Maintenance Default Premiums to be distributed in respect of the Uncertificated
Lower-Tier Interests, pursuant to Section 4.01(a) on such Distribution Date or distributed to the Class R Certificates (in
respect of the Class LT-R Interest), as applicable, pursuant to Section 4.01(a). Any amounts paid by any party hereto to
indemnify the Trust Fund pursuant to any provision hereof shall be delivered to the Certificate Administrator and deemed to be
deposited in the Lower-Tier Distribution Account.

 

(e)          The
Certificate Administrator shall be deemed to establish and maintain the Upper-Tier Distribution Account in the name of the Trustee,
for the benefit of the Certificateholders. The Upper-Tier Distribution Account shall be established and maintained as an Eligible
Account or a sub-account thereof. The Certificate Administrator shall withdraw or be deemed to withdraw from the Upper-Tier Distribution
Account amounts distributable in respect of the Regular Certificates or the Class UT-R Interest pursuant to Section 4.01(b).

 

    	-101-

    	 

    

 

(f)          The
Certificate Administrator shall establish and maintain the Distribution Account in the name of the Trustee, for the benefit of
the Certificateholders. Notwithstanding anything herein to the contrary, the Lower-Tier Distribution Account and the Upper-Tier
Distribution Account may be maintained as subaccounts of the Distribution Account; provided that accounts shall be maintained
in a manner sufficient to identify the deposits made or deemed made thereto and withdrawals made or deemed made therefrom.

 

(g)          The
Certificate Administrator shall establish and maintain a reserve account (which may be a subaccount of the Distribution Account)
(the “Interest Reserve Account”) on behalf of the Trustee for the benefit of the holders of the Regular Certificates.
Funds on deposit in the Interest Reserve Account shall be uninvested. On each Distribution Date occurring in any February and on
any Distribution Date occurring in any January that occurs in a year that is not a leap year (unless, in either case, such Distribution
Date is the final Distribution Date), the Certificate Administrator shall deposit into the Interest Reserve Account an amount equal
to one day’s net interest collected on the principal balance of the Mortgage Loans as of the Payment Date occurring in the
month preceding the month in which such Distribution Date occurs at the Mortgage Rate (net of the Administrative Cost Rate payable
therefrom and exclusive of Default Interest) to the extent a full Scheduled Monthly Payment in respect of each Mortgage Loan or
a Monthly Advance is made in respect thereof (all amounts so deposited in any consecutive January and February, “Withheld
Amounts”). On each Distribution Date occurring in March (or February, if the related Distribution Date is the final Distribution
Date), the Certificate Administrator shall withdraw from the Interest Reserve Account an amount equal to the Withheld Amounts from
the preceding January and February, if any, and transfer such amounts into the Distribution Account.

 

(h)          Funds
in the Collection Account may be invested in Permitted Investments in accordance with the provisions of Section 3.07. The
Servicer shall give written notice to the Trustee and the Certificate Administrator of the location and account number of the Collection
Account and shall notify the Trustee and the Certificate Administrator in writing prior to any subsequent change thereof.

 

(i)           For
the avoidance of doubt, the Collection Account, the Lower-Tier Distribution Account, the Interest Reserve Account and each REO
Account (including interest, if any, earned on the investment of funds in such accounts) will be owned by the Lower-Tier REMIC
and the Upper-Tier Distribution Account (including interest, if any, earned on the investment of funds in such account) will be
owned by the Upper-Tier REMIC, each for federal income tax purposes.

 

Section
3.06     Permitted Withdrawals from the Collection Account. (a) The Servicer may, from time
to time, make withdrawals from the Collection Account (or the applicable subaccount thereof) for any of the following
purposes (without duplication of the same payment or reimbursement), the order below not constituting an order of priority
for such withdrawals:

 

(i)           by
4:00 p.m. (New York City time) on each Servicer Remittance Date to remit to the Certificate Administrator for deposit in the Lower-Tier
Distribution Account, the amounts in the Collection Account that are included in the Pooled Available Funds

 

    	-102-

    	 

    

 

and Loan Specific Available
Funds and any Yield Maintenance Default Premiums received during the prior Due Period allocable to the Mortgage Loans;

 

(ii)          to
pay or reimburse the Servicer or the Trustee, as applicable, for Administrative Advances, Servicing Advances and Advance Interest
Amounts thereon in each case out of amounts received with respect to the applicable Whole Loan first, out of any Default Interest
and late payment charges collected during the Due Period immediately preceding such Distribution Date, second, from any late payments
or collections from the related Borrower, Net Liquidation Proceeds, Net Insurance Proceeds, Net Condemnation Proceeds or Net REO
Income received on or in respect of such Whole Loan or the related REO Property respecting which such Advance was made, in each
case, in accordance with the related Co-Lender Agreement;

 

(iii)         to
pay or reimburse the Servicer or the Trustee for Monthly Advances with respect to any Mortgage Loan and Advance Interest Amounts
thereon in each case out of amounts received with respect to the applicable Whole Loan to the extent allocable to the related Mortgage
Loan in accordance with the related Co-Lender Agreement first, out of any Default Interest and late payment charges collected during
the Due Period immediately preceding such Distribution Date, second, from any late payments or collections from the related Borrower,
Net Liquidation Proceeds, Net Insurance Proceeds, Net Condemnation Proceeds or Net REO Income received on or in respect of such
Mortgage Loan or the related REO Property respecting which such Advance was made;

 

(iv)         to
remit to the Certificate Administrator for deposit into the Lower-Tier Distribution Account, an amount equal to the Certificate
Administrator Fee for such Mortgage Loan;

 

(v)          to
pay on or before each Servicer Remittance Date to the Servicer as compensation, any aggregate unpaid Servicing Compensation; provided
that the Servicer’s rights to payment of Servicing Fees pursuant to this clause (v) with respect to any Mortgage Loan,
Companion Loans or REO Mortgage Loan, as applicable, are limited to amounts received on or in respect of such Mortgage Loan or
Companion Loans (whether in the form of payments, Liquidation Proceeds, Net Insurance Proceeds or REO Income), that are allocable
as recovery of interest thereon;

 

(vi)         to
pay on or before each Servicer Remittance Date to the applicable Special Servicer, as compensation, the aggregate unpaid Special
Servicing Compensation (if any, including any Workout Fee or portion of a Liquidation Fee due to a previous Special Servicer) with
respect to any Whole Loan, Specially Serviced Mortgage Loan, Rehabilitated Mortgage Loan or REO Mortgage Loan, remaining unpaid
first, out of related REO Income, Liquidation Proceeds, Net Insurance Proceeds and Net Condemnation Proceeds received on
the related Whole Loan or REO Property, and then from other collections received on the related Whole Loan or REO Property,
and then out of general collections on the Mortgage Loans and REO Properties (the Servicer may rely on a certification of
the applicable Special Servicer as to amounts of Special Servicing Compensation to be withdrawn pursuant to this clause (vi));

 

    	-103-

    	 

    

 

(vii)        Reserved;

 

(viii)       Reserved;

 

(ix)         to
reimburse the Trustee and itself, as applicable (in that order) for Nonrecoverable Advances and Advance Interest Amounts thereon
first, out of REO Income, Liquidation Proceeds, Net Insurance Proceeds and Net Condemnation Proceeds received on the related
Whole Loan (or, in the case of Monthly Advances, the related Mortgage Loan), then, out of general collections on the Pooled
Mortgage Loans and REO Properties; provided, however, that notwithstanding the foregoing and subject to Section
3.06(b), if the Servicer or the Trustee believes that it is in the best interest of the holders of the Certificates, as a collective
whole, it may, at its sole option, reimburse itself or request that it be reimbursed, as applicable, for Advances that are Nonrecoverable
Advances in installments over time and such Advance will continue to earn Advance Interest Amounts until reimbursed; provided,
further, however, if the Servicer or the Trustee reimburses itself out of general collections on deposit in the Collection
Account for any Advance and/or Advance Interest Amounts that it has determined is a Nonrecoverable Advance, then such reimbursement
shall be subject to Section 1.04 and with respect to the Workout-Delayed Reimbursement Amounts, out of the principal portion
of the general collections on the related Mortgage Loans and REO Properties net of such amounts being reimbursed pursuant to this
clause;

 

(x)           to
pay itself, with respect to any Whole Loan or REO Property any related earned Servicing Fee that remained unpaid in accordance
with clause (v) above following a Final Recovery Determination made with respect to such Whole Loan or REO Property and
the deposit into the Collection Account of all amounts received in connection therewith;

 

(xi)          to
the extent not reimbursed or paid pursuant to any other clause of this Section 3.06(a), to reimburse or pay the Servicer,
the Trustee, a Special Servicer, the Depositor, the Certificate Administrator or CREFC®, as applicable, for Additional
Trust Fund Expenses and other unpaid items specified in any other provision of this Agreement pursuant to which such Person is
entitled to reimbursement or payment, to the extent provided herein, it being acknowledged that this clause (xi) shall not
be deemed to modify the substance of any such provisions, including the provisions that set forth the extent to which one of the
foregoing Persons is or is not entitled to payment or reimbursement;

 

(xii)         to
pay, in accordance with Section 3.12(f), certain servicing expenses with respect to such Whole Loan that would, if advanced,
constitute Nonrecoverable Advances;

 

(xiii)        to
transfer to the Certificate Administrator for deposit in one or more separate, non-interest bearing accounts any amount reasonably
determined by the Certificate Administrator to be necessary to pay any applicable federal, state or local taxes imposed on the
Lower-Tier REMIC or the Upper-Tier REMIC under the circumstances and to the extent described in Section 4.05;

 

    	-104-

    	 

    

 

(xiv)        to
pay from time to time to the Servicer in accordance with Section 3.07(c) any interest or investment income earned on funds
deposited in the Collection Account;

 

(xv)         to
reimburse itself, a Special Servicer, the Certificate Administrator or the Trustee, as the case may be, for any unreimbursed expenses
reasonably incurred by such Person in respect of any material breach or material Defect giving rise to a repurchase obligation
or cure of a material breach or material document defect on the part of a Mortgage Loan Seller, including, without limitation,
any expenses arising out of the enforcement of the repurchase or cure obligation, together with Advance Interest Amounts thereon,
each such Person’s right to reimbursement pursuant to this clause (xv) that results in the repurchase of such Mortgage
Loan being limited to that portion of the Repurchase Price paid for such Mortgage Loan that represents such expense in accordance
with the definition of Repurchase Price to the extent the Mortgage Loan Seller has repurchased such Mortgage Loan;

 

(xvi)        to
withdraw or debit any amount deposited into the Collection Account that was not required to be deposited therein;

 

(xvii)       [Reserved]

 

(xviii)   
  to remit to CREFC®, the CREFC® Intellectual Property Royalty License Fee;

 

(xix)        if
all or a portion of any Companion Loans is part of an Other Securitization Trust, to the extent required by the related Co-Lender
Agreement, to pay the applicable party to the related Other Pooling and Servicing Agreement for any interest accrued on Companion
Loan Advances made thereby;

 

(xx)         to
make any other required payments (other than payments under clause (xix) above and normal monthly remittances and reimbursements
pursuant to clause (xxi) below) due under the related Co-Lender Agreement to the holders of the Companion Loans;

 

(xxi)        to
remit to the holders of the Companion Loans all remaining amounts on deposit in the Collection Account payable thereto pursuant
to the related Co-Lender Agreement with respect to the Companion Loans, exclusive of any amounts reimbursable to the Servicer,
the Special Servicers, the Trustee or the Trust and allocable to the Companion Loans in accordance with the related Co-Lender Agreement;
and

 

(xxii)       to
clear and terminate the Collection Account pursuant to Section 10.01.

 

Notwithstanding the foregoing,
with respect to any Servicer Remittance Date, in no event shall the Servicer be permitted to make a withdrawal pursuant to clauses
3.06(a)(ii)-(vi), (xi), (xii), (xiv) and (xviii) which relate to a particular Mortgage Loan to
the extent that amount is reimbursable by the related Borrower pursuant to the related Mortgage Loan Documents from the Collection
Account, if, as a result of such withdrawal, the amount on deposit in the Collection Account after giving effect to such withdrawal
would be less than the Required Advance Amount; provided that the Servicer shall be permitted to make withdrawals in the
order

 

    	-105-

    	 

    

 

of priority specified above up to the amount on deposit in the Collection Account that would result in funds equaling or
exceeding the Required Advance Amount remaining in the Collection Account. Notwithstanding the foregoing, such withdrawal limitations
shall not apply upon (1) the final liquidation of such Mortgage Loan or the related Mortgaged Property securing such Mortgage Loan,
(2) the final payment of such Mortgage Loan and release of the Mortgage or (3) the determination that any Advance that would increase
the currently unreimbursed Advances in the aggregate such that it would be a Nonrecoverable Advance. The Servicer shall advance,
to the extent it determines that such amounts are recoverable, that such amounts are reimbursable by the related Borrower pursuant
to the related Mortgage Loan Documents and that such amounts have not been paid by the related Borrower, all amounts owed to itself,
the Special Servicers, the Trustee or CREFC® pursuant to clauses 3.06(a)(ii) (with respect to the Special
Servicers and the Trustee only), (iii) (with respect to the Trustee only), (iv), (v) (other than the Servicing Fee), (vi), (xi),
(xii) and (xviii) on the Remittance Date and such amounts (other than unreimbursed Advances made by the Servicer, which shall continue
to remain outstanding), shall be “Administrative Advances”. All Administrative Advances shall accrue interest
in accordance with Section 3.24. Notwithstanding any provision herein, the Servicer shall not be obligated to make any Administrative
Advance that it determines, together with Advance Interest thereon, will constitute a Nonrecoverable Advance if made.

 

(b)          Upon
the determination that a previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would
exceed the full amount of the principal portion of general collections on the Mortgage Loans deposited in the Collection Account
and available for distribution on the next Distribution Date, the Servicer or the Trustee, each at its own option and in its sole
discretion, as applicable, instead of obtaining reimbursement for the remaining amount of such Nonrecoverable Advance pursuant
to Section 3.06(a)(ix) immediately, as an accommodation may elect to refrain from obtaining such reimbursement for such
portion of the Nonrecoverable Advance during the one month collection period ending on the then-current Determination Date, for
successive one-month periods for a total period not to exceed 12 months, and any election to so defer or not to defer shall be
deemed to be in accordance with Accepted Servicing Practices or, with respect to the Trustee, in good faith and none of the Servicer,
the Trustee or the other parties to this Agreement shall have any liability to one another or to any of the Certificateholders
for any such election that such party makes as contemplated by this section or for any losses, damages or other adverse economic
or other effects that may arise from such an election. Notwithstanding the foregoing, at any time after such a determination to
obtain reimbursement over time, the Servicer or the Trustee, as applicable, may, in its sole discretion, decide to obtain reimbursement
immediately. If the Servicer or the Trustee makes such an election at
its sole option and in its sole discretion to defer reimbursement with respect to all or a portion of a Nonrecoverable Advance
(together with interest thereon), then such Nonrecoverable Advance (together with interest thereon) or portion thereof shall continue
to be fully reimbursable in the subsequent collection period (subject, again, to the same sole option to defer; it is acknowledged
that, in such a subsequent period, such Nonrecoverable Advance shall again be payable first from principal collections as
described above prior to payment from other collections). In connection with a potential election by the Servicer or the Trustee
to refrain from the reimbursement of a particular Nonrecoverable Advance or portion thereof during the one month collection period
ending on the related Determination Date for any Distribution Date, the Servicer or the Trustee shall further be authorized to
wait for principal collections on the Mortgage Loans to be received until the end of

 

    	-106-

    	 

    

 

such collection period before making its determination
of whether to refrain from the reimbursement of a particular Nonrecoverable Advance or portion thereof). The fact that a
decision to recover such Nonrecoverable Advances over time, or not to do so, benefits some Classes of Certificateholders to the
detriment of other Classes shall not, with respect to the Servicer, constitute a violation of Accepted Servicing Practices and/or,
with respect to the Trustee, constitute a violation of any fiduciary duty to Certificateholders or contractual duty hereunder.

 

If the Servicer or the
Trustee, as applicable, is reimbursed out of general collections for any unreimbursed Advances that are determined to be Nonrecoverable
Advances (together with any Advance Interest Amounts), then (for purposes of calculating distributions on the Certificates) such
reimbursement and payment of interest shall be deemed to have been made: first, out of the Certificate Principal Distribution
Amount (first, related to the related Loan Specific Certificates and then related to the Pooled Certificates) that, but for its
application to reimburse a Nonrecoverable Advance and/or to pay the Advance Interest Amounts, would be included in the Certificate
Principal Distribution Amount for any subsequent Distribution Date, and second, out of other amounts that, but for their
application to reimburse a Nonrecoverable Advance and/or to pay the Advance Interest Amounts, would be included in the related
Loan Specific Available Funds and then the Available Funds, in each case, for any subsequent Distribution Date.

 

If one or more unreimbursed
Workout-Delayed Reimbursement Amounts exist, then such Workout-Delayed Reimbursement Amounts will be reimbursable only from amounts
in the Collection Account that represent collections of principal on the Mortgage Loans net of any amounts applied to pay any Nonrecoverable
Advances or interest thereon.

 

If and to the extent
that any payment is deemed to be applied as contemplated in the paragraph above to reimburse a Workout-Delayed Reimbursement Amount,
then the Certificate Principal Distribution Amount for such Distribution Date shall be reduced, to not less than zero, by the amount
of such reimbursement. If and to the extent (i) such Workout-Delayed Reimbursement Amount is reimbursed out of the Certificate
Principal Distribution Amount as contemplated above and (ii) the particular item for which such Workout-Delayed Reimbursement Amount
was originally made is subsequently collected out of payments or other collections in respect of the related Mortgage Loan, then
the Certificate Principal Distribution Amount for the Distribution Date that corresponds to the Due Period in which such item was
recovered shall be increased by an amount equal to the lesser of (A) the amount of such item and (B) any previous reduction in
the Certificate Principal Distribution Amount for a prior Distribution Date as contemplated in the paragraph above resulting from
the reimbursement of the subject Workout-Delayed Reimbursement Amount.

 

(c)          The
Servicer shall pay to a Special Servicer, the Certificate Administrator or the Trustee from the Collection Account amounts permitted
to be paid to it therefrom monthly upon receipt of a certificate of a Servicing Officer of such Special Servicer or a Responsible
Officer of the Certificate Administrator or the Trustee describing the item and amount to which such Special Servicer, the Certificate
Administrator or the Trustee is entitled so long as such certificate is received on or prior to the Determination Date for such
month. The Servicer may rely conclusively on any such certificate and shall have no duty to re-calculate the amounts

 

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stated therein.
Each Special Servicer shall keep and maintain separate accounting for each applicable Specially Serviced Mortgage Loan and REO
Mortgage Loan, on a loan-by-loan and property-by-property basis, for the purpose of justifying any request for withdrawal from
the Collection Account.

 

The Certificate Administrator,
the Trustee, each Special Servicer and the Servicer shall in all cases have a right prior to the holders of the Certificates to
any funds on deposit in the Collection Account from time to time for the reimbursement or payment of the Servicing Compensation
(including investment income), Certificate Administrator Fees (including the Trustee Fee), Special Servicing Compensation, Advances,
Advance Interest Amounts and their respective expenses hereunder to the extent such fees and expenses are to be reimbursed or paid
from amounts on deposit in the Collection Account pursuant to this Agreement. In addition, the Certificate Administrator, the Trustee,
each Special Servicer and the Servicer shall in all cases have a right prior to the Certificateholders to any funds on deposit
in the Collection Account from time to time for the reimbursement or payment of any federal, state or local taxes imposed on the
Lower-Tier REMIC or the Upper-Tier REMIC.

 

Section 3.07
  Investment of Funds in the Collection Account, the REO Account, the Lock Box Accounts, the Cash Collateral
Accounts and the Reserve Accounts. (a) The Servicer (or with respect to any REO Account, the applicable Special
Servicer), may direct any depository institution maintaining the Collection Account, any Borrower Accounts (subject to the
second succeeding sentence) and any REO Account (each, for purposes of this Section 3.07, an “Investment
Account”), to invest the funds in such Investment Account in one or more Permitted Investments that bear interest
or are sold at a discount, and that mature, unless payable on demand, no later than the Business Day preceding the date on
which such funds are required to be withdrawn from such Investment Account pursuant to this Agreement. Any direction by the
Servicer or a Special Servicer to invest funds on deposit in an Investment Account shall be in writing to the depository
institution maintaining such Investment Account. In the case of any Escrow Account, Lock Box Account, Cash Collateral Account
or Reserve Account (the “Borrower Accounts”), the Servicer (to the extent not inconsistent with the
related Mortgage Loan Documents) shall act upon the written request of the related Borrower or Manager to the extent the
Servicer is required to do so under the terms of the respective Mortgage Loan or related documents, provided that
in the absence of appropriate written instructions from the related Borrower or Manager meeting the requirements of this Section
3.07, the Servicer shall have no obligation to, but will be entitled to, direct the investment of funds in such accounts
in Permitted Investments; provided, further, to the extent any Borrower is required to obtain the
Servicer’s consent to the investment of funds in any Borrower Account, the Servicer shall permit such accounts to be
invested only in Permitted Investments or as permitted in the related Mortgage Loan Documents. To the extent not inconsistent
with the terms of the related Mortgage Loan, each Borrower Account shall be an Eligible Account. All such Permitted
Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be
made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Servicer (or the
applicable Special Servicer, with respect to the REO Account), acting on behalf of the Trustee, shall (and Trustee hereby
designates the Servicer (or the applicable Special Servicer, with respect to the REO Account) as the Person that shall) (i)
be the “entitlement holder” of any Permitted Investment of amounts in an Investment Account that is a
“security entitlement” and (ii) maintain “control” of any Permitted Investment

 

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of amounts in an Investment Account that constitutes either a “certificated security” or an “uncertificated security.”
For purposes of this Section 3.07(a), the terms “entitlement holder,” “security entitlement,” “control,”
“certificated security” and “uncertificated security” shall have the meanings given such terms in Revised
Article 8 (1994 Revision) of the UCC, and “control” of any Permitted Investment by the Servicer (or the applicable
Special Servicer, with respect to the REO Account) shall constitute “control” by a Person designated by, and acting
on behalf of, the Trustee for purposes of Revised Article 8 (1994 Revision) of the UCC.

 

(b)          The
Certificate Administrator may invest funds on deposit in the Lower-Tier Distribution Account or the Upper-Tier Distribution Account
(each a “Certificate Administrator Investment Account”) in the Permitted Investments that bear interest or are
sold at a discount, and that mature, unless payable on demand, no later than the Business Day before the Business Day that such
funds are required to be withdrawn from such Certificate Administrator Investment Account and distributed to the Certificateholders
pursuant to this Agreement. All income and gain (net of losses) realized from investment of funds deposited in the Certificate
Administrator Investment Accounts shall be for the benefit of the Certificate Administrator and, if held in the Certificate Administrator
Investment Accounts shall be subject to withdrawal by the Certificate Administrator, in accordance with Section 3.06. The
Certificate Administrator shall deposit from its own funds into the Distribution Account, the amount of any loss incurred in respect
of any investment of funds in a Certificate Administrator Investment Account immediately upon realization of such loss; provided,
however, that the Certificate Administrator may reduce the amount of such payment to the extent of any investment income
and gain in such Certificate Administrator Investment Account that would be otherwise payable to it. All such Permitted Investments
shall be held to maturity, unless payable on demand. Any investment of funds in a Certificate Administrator Investment Account
shall be made in the name of the Certificate Administrator (in its capacity as such) or in the name of a nominee of the Certificate
Administrator. The Certificate Administrator shall (i) be the “entitlement holder” of any Permitted Investment of amounts
in a Certificate Administrator Investment Account that is a “security entitlement” and (ii) maintain “control”
of any Permitted Investment of amounts in a Certificate Administrator Investment Account that constitutes either a “certificated
security” or an “uncertificated security.” For purposes of this Section 3.07(a), the terms “entitlement
holder,” “security entitlement,” “control,” “certificated security” and “uncertificated
security” shall have the meanings given such terms in Revised Article 8 (1994 Revision) of the UCC, and “control”
of any Permitted Investment by the Certificate Administrator shall constitute “control” for purposes of Revised Article
8 (1994 Revision) of the UCC. Notwithstanding the foregoing, the Certificate Administrator in its capacity as Certificate Administrator,
shall not be responsible for any loss from any such investment if such loss is incurred solely as a result of the insolvency of
the federal or state chartered depository institution or trust company that holds such investment, so long as such account is an
Eligible Account at the time such investment was made. Notwithstanding anything herein to the contrary, for so long as Wells Fargo
Bank, National Association serves as Certificate Administrator, all funds held by the Certificate Administrator shall remain uninvested.

 

(c)          All
income and gain (net of losses) realized from investment of funds deposited in any Investment Account shall be for the benefit
of the Servicer (except with respect to the investment of funds deposited in (i) any Borrower Account, which shall be for the benefit
of the related Borrower to the extent required under the Mortgage Loan or applicable law, and

 

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(ii) any REO Account, which shall
be for the benefit of the applicable Special Servicer) and, if held in the Collection Account or REO Account shall be subject to
withdrawal by the Servicer or the applicable Special Servicer, as applicable, in accordance with Section 3.06 or Section
3.18(b), as applicable. The Servicer (or with respect to any REO Account, the applicable Special Servicer) shall deposit from
its own funds into the Collection Account or any REO Account, as applicable, the amount of any loss incurred in respect of any
investment of funds therein immediately upon realization of such loss; provided, however, that the Servicer or applicable
Special Servicer, as applicable, may reduce the amount of such payment to the extent of any investment income and gain in such
Investment Account that would be otherwise payable to it. The Servicer shall also deposit from its own funds in any Borrower Account
the amount of any loss incurred in respect of the investment of funds therein, except to the extent that amounts are invested for
the benefit of the Borrower under the terms of the Mortgage Loan or applicable law. Notwithstanding the foregoing 2 sentences,
neither the Servicer nor the applicable Special Servicer, in their respective capacities as Servicer and as the applicable Special
Servicer, shall be responsible for any loss from any such investment if such loss is incurred solely as a result of the insolvency
of the federal or state chartered depository institution or trust company that was not an Affiliate that holds such investment,
so long as such account is an Eligible Account at the time such investment was made, except where the Servicer fails to move funds
to another Eligible Account within 30 days of the date of such insolvency.

 

(d)          The
Certificate Administrator and the Trustee shall have no responsibility or liability with respect to the investment directions of
the Servicer, the Special Servicers or the Depositor or any losses resulting therefrom, whether from Permitted Investments or otherwise.
No Servicer or Special Servicer, shall have any responsibility or liability with respect to the investment directions of the Depositor,
the Trustee, the Certificate Administrator, the Servicer (with respect to the either Special Servicer only), either Special Servicer
(with respect to the Servicer only), any Borrower or Manager, as applicable, or any losses resulting therefrom, whether from Permitted
Investments or otherwise. If amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable
on demand, the Servicer (or the applicable Special Servicer or the Depositor, as applicable) shall:

 

(x)          consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required
to be withdrawn on such date; and

 

(y)          demand
payment of all amounts due thereunder promptly upon determination by the Servicer (or the applicable Special Servicer or Depositor,
as applicable) that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit
in the related Investment Account.

 

(e)          Except
as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in any other performance required under any Permitted Investment, the Certificate Administrator, upon receipt
of written notice, shall promptly notify the Certificateholders and may, and upon the request of Holders of Certificates entitled
to a majority of the Voting Rights allocated to any Class shall, take such action as may be appropriate to enforce such payment
or performance,

 

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including the institution and prosecution of appropriate proceedings. If the Certificate Administrator takes any
such action, the Certificateholders requesting such action shall pay or reimburse the Certificate Administrator for all reasonable
out of pocket expenses, disbursements and advances incurred or made by the Certificate Administrator in connection therewith. The
Certificate Administrator shall use reasonable efforts in recovering any such amounts from the Person responsible for such costs.

 

Section 3.08     Maintenance
of Insurance Policies and Errors and Omissions and Fidelity Coverage.

 

(a)          The
Servicer (with respect to the Mortgage Loans) shall use its efforts consistent with Accepted Servicing Practices to cause the Borrower
to maintain, to the extent required by the terms of the related Mortgage Loan Documents and taking into account the insurance in
place at closing, all insurance coverage as is required under the related Mortgage Loan except to the extent that the failure of
the related Borrower to do so is an Acceptable Insurance Default. If the related Borrower does not so maintain such insurance coverage,
subject to its recoverability determination with respect to any required Servicing Advance, the Servicer (with respect to the Mortgage
Loans) shall maintain all insurance coverage as is required under the related Mortgage, but only in the event the Trustee has an
insurable interest therein and such insurance is available to the Servicer and, if available, can be obtained at commercially reasonable
rates, as determined by the Servicer (with respect to the Mortgage Loans) except to the extent that the failure of the related
Borrower to do so is an Acceptable Insurance Default as determined by the applicable Special Servicer; provided, however,
that if any Mortgage permits the holder thereof to dictate to the Borrower the insurance coverage to be maintained on such Mortgaged
Property, the Servicer shall impose such insurance requirements as are consistent with Accepted Servicing Practices taking into
account the insurance in place at the closing of the Mortgage Loan, provided that, with respect to the immediately preceding
proviso, the Servicer will be obligated to use efforts consistent with Accepted Servicing Practices to cause the related Borrower
to maintain (or to itself maintain) insurance against property damage resulting from terrorist or similar acts unless the related
Borrower’s failure is an Acceptable Insurance Default (as determined by the applicable Special Servicer) and only in the
event the Trustee has an insurable interest therein and such insurance is available to the Servicer and, if available, can be obtained
at commercially reasonable rates. The Servicer and Special Servicers will be entitled to rely on insurance consultants (at the
Servicer’s expense, or with respect to the applicable Special Servicer, as an expense of the Trust) in determining whether
any insurance is available at commercially reasonable rates. Subject to Section 3.18 and the costs of such insurance being
reimbursed or paid to the applicable Special Servicer as provided in the second-to-last sentence of this paragraph, the applicable
Special Servicer shall maintain for each related REO Property no less insurance coverage than was previously required of the related
Borrower under the related Mortgage Loan, unless such Special Servicer determines that such insurance is not available at commercially
reasonable rates or that the Trustee does not have an insurable interest, in which case the Servicer shall be entitled to conclusively
rely on such Special Servicer’s determination. All Insurance Policies maintained by the Servicer or a Special Servicer shall
(i) contain a “standard” mortgagee clause, with loss payable to the Servicer on behalf of the Trustee (in the case
of insurance maintained in respect of Mortgage Loans other than REO Properties) or to the applicable Special Servicer on behalf
of the Trustee (in the case of insurance maintained in respect of REO Properties), (ii) be in the name of the Trustee (in the case
of

 

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insurance maintained in respect of REO Properties), (iii) include coverage in an amount not less than the lesser of (x) the
full replacement cost of the improvements securing Mortgaged Property or the REO Property, as applicable, or (y) the outstanding
principal balance owing on the related Mortgage Loan or REO Mortgage Loan, as applicable, and in any event, the amount necessary
to avoid the operation of any co-insurance provisions, (iv) include a replacement cost endorsement providing no deduction for depreciation
(unless such endorsement is not permitted under the related Mortgage Loan Documents), (v) be noncancelable without 30 days prior
written notice to the insured party (except in the case of nonpayment, in which case such policy shall not be cancelled without
10 days prior notice) and (vi) subject to the first proviso in the second sentence of this Section 3.08(a), be issued by
a Qualified Insurer authorized under applicable law to issue such Insurance Policies. Any amounts collected by the Servicer or
applicable Special Servicer, as applicable, under any such Insurance Policies (other than amounts to be applied to the restoration
or repair of the related Mortgaged Property or REO Property or amounts to be released to the related Borrower, in each case in
accordance with Accepted Servicing Practices and the provisions of the related Mortgage Loan) shall be deposited in the Collection
Account, subject to withdrawal pursuant to Section 3.06. Any costs incurred by the Servicer in maintaining any such Insurance
Policies in respect of Mortgage Loans (other than REO Properties) (i) if the Borrower defaults on its obligation to do so, shall
be advanced by the Servicer as a Servicing Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance
would be a Nonrecoverable Advance then it shall instead be paid out of the Collection Account) and will be charged to the related
Borrower and (ii) shall not, for purposes of calculating monthly distributions to Certificateholders, be added to the unpaid principal
balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. Any cost incurred by the
applicable Special Servicer in maintaining any such Insurance Policies with respect to REO Properties shall be an expense of the
Trust payable out of the related REO Account pursuant to Section 3.18 or, if the amount on deposit therein is insufficient
therefor, advanced by the Servicer as a Servicing Advance (so long as such Advance would not be a Nonrecoverable Advance and if
such Advance would be a Nonrecoverable Advance then it shall instead be paid out of the Collection Account). Notwithstanding any
provision to the contrary, the Servicer will not be required to maintain, and will not be in default for failing to obtain, any
earthquake or environmental insurance on any Mortgaged Property unless such insurance was required at the time of origination of
the related Mortgage Loan and is available at commercially reasonable rates and the Trustee has an insurable interest.

 

Notwithstanding the foregoing,
with respect to the Mortgage Loans that either (x) require the related Borrower to maintain “all risk” property insurance
(and do not expressly permit an exclusion for terrorism) or (y) contain provisions generally requiring the applicable Borrower
to maintain insurance in types and against such risks as the holder of such Mortgage Loan reasonably requires from time to time
in order to protect its interests, the Servicer will be required to, consistent with Accepted Servicing Practices, (A) monitor,
in accordance with Accepted Servicing Practices, whether the insurance policies for the related Mortgaged Property contain Additional
Exclusions, (B) request the applicable Borrower to either purchase insurance against the risks specified in the Additional Exclusions
or provide an explanation as to its reasons for failing to purchase such insurance and (C) notify the applicable Special Servicer
if it has knowledge that any insurance policy contains Additional Exclusions or if it has knowledge (such knowledge to be based
upon the Servicer’s compliance with the immediately preceding clauses (A) and (B) above) that any Borrower
fails to purchase the insurance requested to be

 

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purchased by the Servicer pursuant to clause (B) above. If the applicable
Special Servicer determines in accordance with Accepted Servicing Practices that such failure is not an Acceptable Insurance Default
the applicable Special Servicer shall notify the Servicer and the Servicer shall use efforts consistent with Accepted Servicing
Practices to cause such insurance to be maintained. The Special Servicers (at the expense of the Trust) shall be entitled to rely
on insurance consultants in making such determinations. The Servicer shall be entitled to rely on insurance consultants (at the
expense of such Servicer) in determining whether Additional Exclusions exist. During the period that the applicable Special Servicer
is evaluating the availability of such insurance, or waiting for a response from the Directing Certificateholder, neither the Servicer
nor the applicable Special Servicer will be liable for any loss related to its failure to require the related Borrower to maintain
such insurance and will not be in default of its obligations as a result of such failure and the Servicer will not itself maintain
such insurance or cause such insurance to be maintained.

 

(b)          (i)
If the Servicer or the applicable Special Servicer, as applicable, shall obtain and maintain a blanket Insurance Policy with a
Qualified Insurer insuring against fire and hazard losses on all of the Mortgage Loans or REO Properties, as the case may be, required
to be serviced and administered hereunder, then, to the extent such Insurance Policy provides protection equivalent to the individual
policies otherwise required, the Servicer or such Special Servicer shall conclusively be deemed to have satisfied its respective
obligations concerning the maintenance of insurance coverage set forth in Section 3.08(a). Such Insurance Policy may contain
a deductible clause, in which case the Servicer or the applicable Special Servicer, as applicable, shall, if there shall not have
been maintained on the related Mortgaged Property or REO Property a fire and hazard Insurance Policy complying with the requirements
of Section 3.08(a), and there shall have been one or more losses which would have been covered by such Insurance Policy,
promptly deposit into the Collection Account from its own funds the amount of such loss or losses that would have been covered
under the individual policy but are not covered under the blanket Insurance Policy because of such deductible clause to the extent
that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan, or in the absence of such
deductible limitation, the deductible limitation which is consistent with Accepted Servicing Practices. In connection with its
activities as administrator and Servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of itself,
the Trustee and Certificateholders, claims under any such blanket Insurance Policy in a timely fashion in accordance with the terms
of such policy. The applicable Special Servicer, to the extent consistent with Accepted Servicing Practices, may maintain, earthquake
insurance on REO Properties, provided that coverage is available at commercially reasonable rates, the cost of which shall
be a Servicing Advance advanced by the Servicer.

 

(ii)        If
the Servicer or the applicable Special Servicer shall cause any Mortgaged Property or REO Property to be covered by a master single
interest or force-placed insurance policy with a Qualified Insurer naming the Servicer or such Special Servicer, as applicable,
as the loss payee, then to the extent such Insurance Policy provides protection equivalent to the individual policies otherwise
required, the Servicer or such Special Servicer shall conclusively be deemed to have satisfied its obligation to cause such insurance
to be maintained on the related Mortgaged Properties and REO Properties. In the event the Servicer or applicable Special Servicer
shall cause any Mortgaged Property or REO Property to be covered by such master single interest or force-placed insurance policy,
the incremental costs of such

 

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insurance applicable to such Mortgaged Property or REO Property (i.e., other than any minimum or
standby premium payable for such policy whether or not any Mortgaged Property or REO Property is covered thereby) shall be paid
by the Servicer as a Servicing Advance. Such master single interest or force-placed policy may contain a deductible clause, in
which case the Servicer or the applicable Special Servicer shall, in the event that there shall not have been maintained on the
related Mortgaged Property or REO Property a policy otherwise complying with the provisions of Section 3.08(a), and there
shall have been one or more losses which would have been covered by such policy had it been maintained, deposit into the Collection
Account from its own funds the amount not otherwise payable under the master single or force-placed interest policy because of
such deductible clause, to the extent that any such deductible exceeds the deductible limitation that pertained to the related
Mortgage Loan, or, in the absence of any such deductible limitation, the deductible limitation which is consistent with Accepted
Servicing Practices.

 

(c)          Each
of the Servicer and the Special Servicers shall obtain and maintain at its own expense and keep in full force and effect throughout
the term of this Agreement a blanket fidelity bond and an errors and omissions Insurance Policy with a Qualified Insurer covering
the Servicer’s and the applicable Special Servicer’s, as applicable, officers and employees acting on behalf of the
Servicer and such Special Servicer in connection with its activities under this Agreement in accordance with Accepted Servicing
Practices. Notwithstanding the foregoing, so long as the long term debt or the deposit obligations or claims-paying ability of
the Servicer or the applicable Special Servicer, as applicable, is rated at least “A-” by S&P and at least “A-”
or its equivalent by Morningstar (if then rated by Morningstar), the Servicer (or its public parent) or the applicable Special
Servicer (or its public parent), as applicable, shall be allowed to provide self-insurance with respect to a fidelity bond and
an “errors and omissions” Insurance Policy. Such amount of coverage shall be in such form and amount as are consistent
with Accepted Servicing Practices. Coverage of the Servicer or the applicable Special Servicer under a policy or bond obtained
by an Affiliate of the Servicer or the applicable Special Servicer and providing the coverage required by this Section 3.08(c)
shall satisfy the requirements of this Section 3.08(c). The applicable Special Servicer and the Servicer will promptly report
in writing to the Trustee any material changes that may occur in their respective fidelity bonds, if any, and/or their respective
errors and omissions Insurance Policies, as the case may be.

 

(d)          At
the time the Servicer determines in accordance with Accepted Servicing Practices that any Mortgaged Property is in a federally
designated special flood hazard area (and such flood insurance has been made available), the Servicer will use efforts consistent
with Accepted Servicing Practices to cause the related Borrower (in accordance with applicable law and the terms of the Mortgage
Loan Documents) to maintain, and, if the related Borrower shall default in its obligation to so maintain, shall itself maintain
to the extent available at commercially reasonable rates (as determined by the Servicer in accordance with Accepted Servicing Practices
and to the extent the Trustee, as mortgagee, has an insurable interest therein), flood insurance in respect thereof, but only to
the extent the related Mortgage Loan permits the mortgagee to require such coverage and the maintenance of such coverage is consistent
with Accepted Servicing Practices. Such flood insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance
of the related Mortgage Loan, and (ii) the maximum amount of insurance which is available under the National Flood Insurance Act
of 1968, as amended. If the

 

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cost of any insurance described above is not borne by the related Borrower, the Servicer shall promptly
make a Servicing Advance for such costs.

 

(e)          During
all such times as any REO Property shall be located in a federally designated special flood hazard area, the applicable Special
Servicer will cause to be maintained, to the extent available at commercially reasonable rates (as determined by such Special Servicer
in accordance with Accepted Servicing Practices and to the extent the Trustee, as mortgagee, has an insurable interest therein),
a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in an amount
representing coverage not less than the maximum amount of insurance which is available under the National Flood Insurance Act of
1968, as amended. The cost of any such flood insurance with respect to an REO Property shall be an expense of the Trust payable
out of the related REO Account pursuant to Section 3.18 or, if the amount on deposit therein is insufficient therefor, paid
by the Servicer as a Servicing Advance.

 

Section
3.09     Enforcement of Due-On-Sale Clauses; Assumption Agreements. (a) If any Mortgage Loan
contains a provision in the nature of a “due-on-sale” clause that by its terms:

 

(i)           provides
that such Mortgage Loan shall (or may at the mortgagee’s option) become due and payable upon the sale or other transfer of
an interest in the related Mortgaged Property or equity interests in the Borrower or principals of the Borrower, or

 

(ii)          provides
that such Mortgage Loan may not be assumed without the consent of the related mortgagee in connection with any such sale or other
transfer,

 

then, the Servicer (with respect to non-Specially
Serviced Mortgage Loans) or the applicable Special Servicer (with respect to Specially Serviced Mortgage Loans), as applicable,
shall not be required to enforce such due-on-sale clause and in connection therewith shall not be required to (x) accelerate payments
thereon or (y) withhold its consent to such an assumption if (A) the due-on-sale clause is not enforceable under applicable law
or enforcing the due on sale clause is reasonably likely to result in meritorious legal action by the related Borrower and (B)
the Servicer (as to non-Specially Serviced Mortgage Loans) or such Special Servicer (as to Specially Serviced Mortgage Loans) determines,
in accordance with Accepted Servicing Practices, that such enforcement or the withholding of such consent would not be likely to
result in a greater recovery to Certificateholders (as if they constituted a single lender) on a net present value basis in accordance
with Section 1.03(g) than would a waiver of such clause, provided that, with respect to all non-Specially
Serviced Mortgage Loans, the Servicer has obtained the prior written consent (or deemed consent) of applicable Special Servicer,
which consent shall be deemed given 15 Business Days after receipt (unless earlier objected to) by such Special Servicer from the
Servicer of the Servicer’s written analysis and recommendation with respect to such waiver or exercise of such right together
with such other information reasonably required by such Special Servicer. Subject to the next sentence, if the Servicer or the
applicable Special Servicer determines that such enforcement or the withholding of such consent would not be likely to result in
a greater recovery to Certificateholders on a net present value basis in accordance with Section 1.03(g) than would a waiver
of such clause, the Servicer or such Special Servicer, as

 

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applicable is authorized to take or enter into an assumption agreement
from or with the Person to whom the related Mortgaged Property has been or is about to be conveyed, and to release the original
Borrower from liability upon the Mortgage Loan and, unless otherwise provided in the related Mortgage Loan Documents, substitute
the new Borrower as obligor thereon only if the credit status of the prospective new Borrower is in compliance with (x) the Servicer’s
(or the applicable Special Servicer’s with respect to Specially Serviced Mortgage Loans) regular commercial mortgage origination
or servicing standards and criteria, (y) the terms of the related Mortgage Loan and (z) Accepted Servicing Practices (as evidenced
by the delivery by the Servicer or the applicable Special Servicer, as the case may be, of its written evaluation of the new Borrower).
In connection with each such assumption or substitution relating to a Specially Serviced Mortgage Loan, (i) the applicable Special
Servicer shall give prior notice thereof to the Servicer and (ii) the terms of the Mortgage Loan shall not be changed in a manner
that would constitute a “significant modification” pursuant to Treasury Regulations Section 1.860G-2(b) unless the
Mortgage Loan is in default or default with respect thereto is reasonably foreseeable or cause either Trust REMIC to fail to qualify
as a REMIC. Notwithstanding anything to the contrary contained in this Section 3.09, neither the Servicer nor the applicable
Special Servicer, as applicable, will be permitted to waive any due on sale clause unless they have received a Rating Agency Confirmation.
The Servicer or applicable Special Servicer, as applicable, shall promptly notify the other and shall promptly notify the Trustee
and the Certificate Administrator that any such assumption or substitution agreement has been completed and forward to the Certificate
Administrator the original copy of such agreement, which copy shall be added to the related Mortgage File and shall, for all purposes,
be considered a part of such Mortgage File to the same extent as all other documents and instruments constituting a part thereof.

 

(b)          If
any Mortgage Loan contains a provision in the nature of a “due-on-encumbrance” clause that by its terms:

 

(i)           provides
that such Mortgage Loan shall (or may at the mortgagee’s option) become due and payable upon the creation of any lien or
other encumbrance on the related Mortgaged Property or equity interests in the Borrower or principals of the Borrower, or

 

(ii)          requires
the consent of the related mortgagee to the creation of any such lien or other encumbrance on the related Mortgaged Property or
equity interests in the Borrower or principals of the Borrower,

 

then the Servicer or applicable Special
Servicer, as applicable, on behalf of the Trust Fund, shall not be required to enforce such due-on-encumbrance clause and in connection
therewith will not be required to (i) accelerate the payments on the related Mortgage Loan or (ii) withhold its consent to such
lien or encumbrance, if the Servicer or such Special Servicer, as applicable, (x) determines, in accordance with Accepted Servicing
Practices, that such consent would be in the best interests of the Trust Fund, and (y) receives Rating Agency Confirmation with
respect to granting such consent. With respect to all non-Specially Serviced Mortgage Loans, the Servicer shall obtain the prior
written consent (or deemed consent) of such Special Servicer, which consent shall be deemed given 15 Business Days after receipt
(unless earlier objected to) by such Special Servicer from the Servicer of the Servicer’s written analysis and recommendation
with

 

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respect to such waiver or exercise of such right together with such other information reasonably required by such Special
Servicer.

 

(c)          Nothing
contained in this Section 3.09 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive
notice of any assumption of a Mortgage Loan, any sale or other transfer of the related Mortgaged Property or the creation of any
lien or other encumbrance with respect to such Mortgaged Property.

 

(d)          In
connection with the taking of, or the failure to take, any action pursuant to this Section 3.09, neither the Servicer nor
the applicable Special Servicer shall agree to modify, waive or amend, and no assumption or substitution agreement entered into
pursuant to Section 3.09(a) shall contain any terms that are different from, any term of any Mortgage Loan or the related
Note, other than pursuant to Section 3.28.

 

(e)          If
the Rating Agencies shall charge a fee in connection with providing a Rating Agency Confirmation related to such proposed assumption,
the Servicer shall require the related Borrower to pay such fee to the full extent permitted under the Mortgage Loan Documents.

 

Section 3.10     Appraisals;
Realization Upon Defaulted Mortgage Loans. (a) If any Mortgage Loan becomes a Required Appraisal Mortgage Loan, the applicable
Special Servicer shall promptly order an Appraisal of the related Mortgaged Property unless, with respect to such Mortgaged Property,
an Appraisal was performed within nine (9) months prior to the Appraisal Reduction Event and such Special Servicer is not aware
of any material change in the market or condition or value of such Mortgaged Property since the date of such Appraisal that would
materially and adversely affect the value of such Mortgaged Property, in which case such Appraisal with respect to such Mortgaged
Property is required to be used by such Special Servicer. The Servicer or applicable Special Servicer, as applicable, shall promptly
notify the other of the occurrence of any Appraisal Reduction Event. If no Appraisal has been received within 60 days after the
date as of which an Appraisal Reduction Event has occurred in respect of any Mortgage Loan (or, in the case of an Appraisal in
connection with an Appraisal Reduction Event described in clauses (i) and (vi) of the definition of Appraisal Reduction
Event, within 120 days (in the case of clause (i)) or 90 or 120 days (in the case of clause (vi)), respectively, after
the initial delinquency), the Appraisal Reduction for such Mortgage Loan (the “Automatic Appraisal Reduction Amount”)
will be 25% of the Principal Balance of such Mortgage Loan as of the date of the related Appraisal Reduction Event. For the first
Distribution Date occurring after the first Determination Date that is at least 10 Business Days following the date that the applicable
Special Servicer receives delivery of such Appraisal (or any letter update or new Appraisal obtained pursuant to the next two
paragraphs), such Special Servicer shall adjust the Appraisal Reduction to take into account such Appraisal (regardless of whether
the adjusted Appraisal Reduction is higher or lower than the Automatic Appraisal Reduction Amount (or the Appraisal Reduction
determined pursuant to the previous Appraisal)).

 

The Special Servicers
shall send all such letter updates, and all new Appraisals obtained pursuant to the next paragraph, to the Servicer, the
Certificate Administrator, the Trustee and, prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder.
Such report shall also be forwarded by the Servicer (or the applicable Special

 

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Servicer if the related Mortgage Loan is a Specially
Serviced Mortgage Loan) to the related Companion Loan Holders, or to the extent a related Companion Loan has been included in an
Other Securitization Trust, to the master servicer of such Other Securitization Trust into which the related Companion Loan has
been sold.

 

During the continuance
of an Appraisal Reduction Event, the applicable Special Servicer shall obtain a new Appraisal as set forth in Section 4.08(d).
The cost of such new or updated Appraisal shall be advanced by the Servicer as a Servicing Advance, absent a determination that
such Servicing Advance would be a Nonrecoverable Advance pursuant to Section 3.24(f). The applicable Special Servicer shall
not be required to obtain a new Appraisal pursuant to the second preceding paragraph if there is an existing Appraisal for such
Mortgaged Property that was obtained within the prior nine (9) months and no material change in the circumstances surrounding the
Mortgaged Property has occurred since the date of the most recent Appraisal that would materially adversely affect the value of
the Mortgaged Property.

 

(b)          Upon
the occurrence or continuance of a material default under a Specially Serviced Mortgage Loan (and, without intending to preclude
other defaults from being deemed material, for purposes hereof, a default described in either clause (i) or clause (vi)
of the definition of Servicing Transfer Event shall be deemed a material default), except as otherwise specifically provided in
Sections 3.09(a) and 3.09(b), the applicable Special Servicer shall, consistent with Accepted Servicing Practices,
and subject to Section 3.19, accelerate such Specially Serviced Mortgage Loan and commence a foreclosure or other acquisition
with respect to the related Mortgaged Property unless such Special Servicer determines that forbearance of acceleration and foreclosure
is more likely to produce a greater recovery to Certificateholders (as if they constituted a single lender), on a net present value
basis in accordance with Section 1.03(g) than would such acceleration and foreclosure. In connection with any foreclosure
or other acquisition, the Servicer or applicable Special Servicer, as applicable, shall cause the Servicer to pay the out of pocket
costs and expenses in any such proceedings as a Servicing Advance unless the Servicer or such Special Servicer determines, in its
sole discretion exercised in accordance with Accepted Servicing Practices, that such Advance would constitute a Nonrecoverable
Advance. The Servicer shall be entitled to reimbursement of Advances (with any Advance Interest Amount) made pursuant to the preceding
sentence in accordance with Section 3.06.

 

(c)          If
the applicable Special Servicer elects to proceed with a non-judicial foreclosure in accordance with the laws of the state where
the Mortgaged Property is located, such Special Servicer shall not be required to pursue a deficiency judgment against the related
Borrower or any other liable party if the laws of the state do not permit such a deficiency judgment after a non-judicial foreclosure
or if such Special Servicer determines, in its reasonable judgment and Accepted Servicing Practices, that the likely recovery if
a deficiency judgment is obtained will not be sufficient to warrant the cost, time, expense and/or exposure of pursuing the deficiency
judgment and such determination is evidenced by an Officer’s Certificate delivered to the Certificate Administrator and the
Trustee.

 

(d)          If
title to any Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall
be issued to the Trustee, or to its nominee (which shall not include the applicable Special Servicer) or a separate trustee or
co-trustee on

 

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behalf of Certificateholders and the Trustee, as holder of the Uncertificated Lower-Tier Interests. Notwithstanding
any such acquisition of title and cancellation of the related Mortgage Loan, such Mortgage Loan shall (except for purposes of Section
10.01) be considered to be an REO Mortgage Loan held on behalf of the Trust Fund (and the holder of any related Companion Loan)
until such time as the related REO Property shall be sold on behalf of the Trust Fund and the principal balance of such REO Mortgage
Loan shall be reduced only by collections net of (i) expenses and (ii) payment of interest accrued on the REO Mortgage Loan. Consistent
with the foregoing, for purposes of all calculations hereunder, so long as such REO Mortgage Loan shall be considered to be an
outstanding Mortgage Loan:

 

(i)           it
shall be assumed that, notwithstanding that the indebtedness evidenced by the related Note shall have been discharged, such Note,
for purposes of determining the Principal Balance thereof, remains in effect and the Balloon Payment thereon has not been made
(provided that, in accordance with Section 1.03(c), any amounts received in connection with such Mortgage Loan in
excess of expenses and accrued interest will be applied towards principal amounts on such Note); and

 

(ii)          Net
REO Income received in any month shall be applied as provided in Section 1.03(d).

 

(e)          Notwithstanding
any provision herein to the contrary, no Special Servicer shall acquire for the benefit of the Trust Fund any personal property
pursuant to this Section 3.10 unless either:

 

(i)           such
personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by the applicable
Special Servicer for the benefit of the Trust Fund; or

 

(ii)          the
applicable Special Servicer shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Lower-Tier
REMIC) to the effect that the holding of such personal property by the Lower-Tier REMIC or the Upper-Tier REMIC will not cause
the imposition of a tax on the Lower-Tier REMIC or the Upper-Tier REMIC under the REMIC Provisions or cause the Lower-Tier REMIC
or the Upper-Tier REMIC to fail to qualify as a REMIC at any time that any Certificate is outstanding.

 

(f)          Notwithstanding
any provision to the contrary in this Agreement, the applicable Special Servicer shall not, on behalf of the Trust Fund, obtain
title to any direct or indirect partnership interest or other equity interest in any Borrower or other entity, or any personal
property that is not incidental to real property (as provided in Section 3.10(e)(i)), or any subordinate financing in respect
of any Borrower pledged pursuant to any pledge agreement unless such Special Servicer shall have requested and received an Opinion
of Counsel (which opinion shall be an expense of the Trust Fund) to the effect that the holding of such partnership interest, other
equity interest, personal property or subordinate financing by the Trust Fund will not cause the imposition of a tax on the Lower-Tier
REMIC or the Upper-Tier REMIC under the REMIC Provisions, or cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC at any time that any Certificate is outstanding.

 

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(g)           Notwithstanding
any provision to the contrary contained in this Agreement, no Special Servicer shall, on behalf of the Trust Fund, obtain title
to a Mortgaged Property as a result of or in lieu of foreclosure or otherwise, obtain title to any direct or indirect partnership
interest in any Borrower pledged pursuant to a pledge agreement and thereby be the beneficial owner of a Mortgaged Property, and
shall not otherwise acquire possession of, or take any other action with respect to, any Mortgaged Property if, as a result of
any such action, the Trustee, for the Trust Fund, the Certificateholders, would be considered to hold title to, to be a “mortgagee
in possession” of, or to be an “owner” or “operator” of such Mortgaged Property within the meaning
of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time, or any comparable
law, unless such Special Servicer has previously determined in accordance with Accepted Servicing Practices, based on an updated
environmental assessment report prepared by an Independent Person within the last 12 months who regularly conducts environmental
audits, that:

 

(i)            such
Mortgaged Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental consultant,
that it would be in the best economic interest of the Trust Fund to take such actions as are necessary to bring such Mortgaged
Property in compliance therewith, and

 

(ii)           there
are no circumstances present at such Mortgaged Property relating to the use, management or disposal of any Hazardous Materials
for which investigation, testing, monitoring, containment, clean up or remediation could be required under any currently effective
federal, state or local law or regulation, or that, if any such Hazardous Materials are present for which such action could be
required, after consultation with an environmental consultant, it would be in the best economic interest of the Trust to take such
actions with respect to the affected Mortgaged Property.

 

If the environmental
assessment first obtained by the applicable Special Servicer with respect to a Mortgaged Property indicates that such Mortgaged
Property may not be in compliance with applicable environmental laws or that Hazardous Materials may be present but does not definitively
establish such fact, such Special Servicer shall cause such further environmental tests to be conducted by an Independent Person
who regularly conducts such tests as such Special Servicer shall deem prudent to protect the interests of Certificateholders. Any
such tests shall be deemed part of the environmental assessment obtained by such Special Servicer for purposes of this Section
3.10.

 

(h)           The
environmental assessment contemplated by Section 3.10(g) shall be prepared within three months of the determination that
such assessment is required by any Independent Person who regularly conducts environmental audits for purchasers of commercial
property where the Mortgaged Property is located, as determined by the applicable Special Servicer in a manner consistent with
Accepted Servicing Practices. The applicable Servicer shall advance the cost of preparation of such environmental assessments unless
the Servicer determines, in its reasonable judgment, that such Advance would be a Nonrecoverable Advance. The Servicer shall be
entitled to reimbursement of Advances (with interest at the Advance Interest Rate) made pursuant to the preceding sentence in the
manner set forth in Section 3.06.

 

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(i)            If
the applicable Special Servicer determines pursuant to Section 3.10(g)(i) that a Mortgaged Property is not in compliance
with applicable environmental laws but that it is in the best economic interest of the Trust Fund to take such actions as are necessary
to bring such Mortgaged Property in compliance therewith, or if the applicable Special Servicer determines pursuant to Section
3.10(g)(ii) that the circumstances referred to therein relating to Hazardous Materials are present but that it is in the best
economic interest of the Trust Fund to take such action with respect to the containment, clean up or remediation of Hazardous Materials
affecting such Mortgaged Property as is required by law or regulation, the applicable Special Servicer shall take such action as
it deems to be in the best economic interest of the Trust Fund. Notwithstanding the foregoing, if the applicable Special Servicer
reasonably determines that it is likely that prior to such consultation irreparable environmental harm to such Mortgaged Property
would result from the presence of such Hazardous Materials and provides a prior written statement to the Trustee and the Certificate
Administrator setting forth the basis for such determination, then such Special Servicer may take such action to remedy such condition
as may be consistent with Accepted Servicing Practices. The Servicer shall advance the cost of any such compliance, containment,
clean up or remediation unless the Servicer determines, in its reasonable judgment, that such Advance would constitute a Nonrecoverable
Advance.

 

(j)            The
applicable Special Servicer shall report to the IRS and to the related Borrower, in the manner required by applicable law, the
information required to be reported regarding any Mortgaged Property that is abandoned or foreclosed upon or regarding any cancellation
of indebtedness with respect to any Mortgage Loan. The applicable Special Servicer shall deliver a copy of any such report to the
Trustee and the Certificate Administrator.

 

(k)           The
costs of any Appraisal obtained pursuant to this Section 3.10 shall be paid by the Servicer as a Servicing Advance and shall
be reimbursable from the Collection Account.

 

Section
3.11     Certificate Administrator and Trustee to Cooperate; Release of Mortgage Files. Upon
the payment in full of any Mortgage Loan, or the receipt by the Servicer or the applicable Special Servicer of a notification
that payment in full has been escrowed in a manner customary for such purposes, the Servicer or such Special Servicer, as
applicable, shall promptly notify the Trustee and the Custodian by a certification of a Servicing Officer and shall request
delivery to it of the related Mortgage File, such notice and request to be effected by delivering to the Custodian a Request
for Release, which Request for Release shall include a statement to the effect that all amounts received in connection with
such payment that are required to be deposited in the Collection Account pursuant to Section 3.05 have been or will be
deposited. No customary expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be
chargeable to the Trustee, the Custodian, the Certificate Administrator or the Trust Fund.

 

From time to time upon
request of the Servicer or the applicable Special Servicer and delivery to the Certificate Administrator and the Custodian of a
Request for Release, and in accordance with the other terms of this Agreement, the Certificate Administrator shall promptly cause
the Custodian to release the Mortgage File (or any portion thereof) designated in such Request for Release to the Servicer or such
Special Servicer, as applicable.

 

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Upon written certification
of a Servicing Officer, the Trustee shall execute and deliver to the Servicer or applicable Special Servicer, as applicable, in
the form supplied to the Trustee by the Servicer or such Special Servicer, as applicable, any court pleadings, requests for trustee’s
sale or other documents prepared by the Servicer or such Special Servicer, as applicable, its agents or attorneys, necessary for
the foreclosure or trustee’s sale of a Mortgaged Property or necessary to any legal action brought to obtain judgment against
any Borrower on the Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by
the Note or Mortgage or otherwise available at law or in equity provided that the Trustee may alternatively execute and
deliver to such Special Servicer, in the form supplied to the Trustee by such Special Servicer, a limited power of attorney issued
in favor of such Special Servicer and empowering such Special Servicer to execute and deliver any or all of such pleadings or documents
on behalf of the Trustee. Each such certification shall include a request that such pleadings or documents be executed by the Trustee
and a statement as to the reason such documents or pleadings are required, and that the execution and delivery thereof by the Trustee
will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of
foreclosure or trustee’s sale.

 

Section 3.12     Servicing
Fees, Certificate Administrator Fees and Special Servicing Compensation. (a) As compensation for its activities hereunder,
the Servicer shall be entitled with respect to each Whole Loan (including at any time such Whole Loan is a Specially Serviced
Mortgage Loan or REO Mortgage Loan) to the Servicing Fee, which shall be payable from amounts on deposit in the Collection Account
as set forth in Section 3.06. Except as provided herein, the Servicer’s rights to the Servicing Fee may not be transferred
in whole or in part except in connection with the transfer of all of the Servicer’s responsibilities and obligations under
this Agreement. In addition, the Servicer shall be entitled to receive, as additional Servicing Compensation, to the extent permitted
by applicable law and the related Mortgage Loans, (i) all investment income earned (net of losses incurred) on amounts on deposit
in the Collection Account and investment income earned on amounts on deposit in the Borrower Accounts (to the extent consistent
with the related Mortgage Loan Documents and not payable to the related Borrower under the Whole Loan Documents or applicable
law), to the extent provided in Sections 3.07; (ii) to the extent not prohibited by applicable law and the Whole Loans
(other than a Specially Serviced Mortgage Loan) Prepayment Interest Excesses (to the extent not netted against Prepayment Interest
Shortfalls), any consent fees, defeasance fees (if any), Excess Modification Fees, assumption application fees or Assumption Fees,
as applicable, earnout fees, loan service transaction fees, beneficiary statement charges (unless same is precluded pursuant to
the terms of such Whole Loan) or similar items (but excluding Yield Maintenance Default Premiums) and not allocable to the related
Companion Loans in accordance with the related Co-Lender Agreement (if the applicable Special Servicer’s consent is required,
then the Servicer shall be entitled to 50% of the consent fees, Excess Modification Fees, earnout fees, Assumption Fees, loan
service transaction fees, or similar items); and (iii) insufficient check charges on all Whole Loans. Subject to Section 3.12(g)
and Section 1.03(c), the Servicer shall also be entitled to additional servicing compensation in the form of Default
Interest and late payment charges received with respect to any Whole Loan and accrued during such time as the related Whole Loan
was not a Specially Serviced Mortgage Loan but only to the extent actually paid by the related Borrower or from the related Mortgaged
Property and to the extent that all amounts then due and payable with respect to the related Whole Loan (including Advance Interest
Amounts) and all unpaid Advances and Additional Trust Fund Expenses (other than

 

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Special Servicing Fees, Liquidation Fees and Workout
Fees) with respect to such Whole Loan have been paid.

 

The Servicing Fee shall
be reduced by the amount of Compensating Interest in respect of Prepayment Interest Shortfalls but shall not exceed the related
monthly Servicing Fee amount calculated at a per annum rate of 0.0025%. No later than the Servicer Remittance Date, the
Servicer shall deposit into the Collection Account, from its own funds, such Compensating Interest.

 

Except as otherwise expressly
provided herein, the Servicer shall pay, without right of reimbursement, all expenses incurred by it in connection with its servicing
activities hereunder, including all fees of any sub-servicers retained by it.

 

(b)           As
compensation for its activities hereunder on each Distribution Date, the Certificate Administrator shall be entitled with respect
to each Mortgage Loan to the Certificate Administrator Fee (and the Trustee shall be entitled to the Trustee Fee therefrom), each
of which shall be withdrawn from amounts on deposit in the Collection Account and remitted to the Lower-Tier Distribution Account
on each Servicer Remittance Date, as set forth in Section 3.06(a)(iv). The Certificate Administrator shall be entitled to
withdraw any accrued but unpaid Certificate Administrator Fee from the Lower-Tier Distribution Account on each Distribution Date.
The Certificate Administrator shall pay the routine fees and expenses of the Certificate Registrar, the Custodian and the Authenticating
Agent without right of reimbursement therefor. The Trustee’s rights to the Trustee Fee may not be transferred in whole or
in part except in connection with the transfer of all of the Trustee’s responsibilities and obligations under this Agreement.
The Certificate Administrator’s rights to the Certificate Administrator Fee may not be transferred in whole or in part except
in connection with the transfer of all of the Certificate Administrator’s (but not necessarily the Trustee’s) responsibilities
and obligations under this Agreement. Except as otherwise expressly provided herein and except with respect to any unanticipated
expenses pursuant to Section 3.12(d), the Trustee shall pay, without right of reimbursement, all routine expenses incurred
by it in connection with its activities hereunder.

 

(c)           As
compensation for its activities hereunder, the applicable Special Servicer shall be entitled with respect to the related Specially
Serviced Mortgage Loan to the Special Servicing Fee, which shall be payable from amounts on deposit in the Collection Account.
Except as provided herein, the applicable Special Servicer’s rights to the Special Servicing Fee may not be transferred in
whole or in part except in connection with the transfer of all of such Special Servicer’s responsibilities and obligations
under this Agreement. In addition, the applicable Special Servicer shall be entitled to receive, as additional servicing compensation,
to the extent not prohibited by applicable law and the related Mortgage Loan Documents, (i) any Liquidation Fees, (ii) any Workout
Fees, (iii) to the extent not prohibited by applicable law and the Specially Serviced Mortgage Loans, any consent fee, Excess Modification
Fees, assumption application fees or Assumption Fees, as applicable, loan service transaction fees, beneficiary statement charges
(to the extent not precluded by the related Mortgage Loan Documents) or similar items (but not including Yield Maintenance Default
Premiums, to the extent payable on such Specially Serviced Mortgage Loan) related to the Specially Serviced Mortgage Loans, (iv)
for non-Specially Serviced Mortgage Loan, then for any action for which the applicable Special Servicer’s consent is required,
such Special Servicer shall be entitled to 50% of the consent fees,

 

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Excess Modification Fees, Assumption Fees, earnout fees, loan
service transaction fees or similar items and (v) any investment income earned (net of losses incurred) on amounts on deposit in
any REO Account to the extent provided in Section 3.07. Subject to Section 3.12(g) and Section 1.03(c), such
Special Servicer shall also be entitled to additional fees in the form of Default Interest and late payment charges allocated to
each Whole Loan relating to any Specially Serviced Mortgage Loan that accrued during such time as the related Whole Loan was a
Specially Serviced Mortgage Loan, but only to the extent actually collected from the related Borrower and to the extent that all
amounts then due and payable with respect to the related Whole Loan (including Advance Interest Amounts) and all unpaid Advances
and Additional Trust Fund Expenses (other than Special Servicing Fees, Liquidation Fees and Workout Fees) payable with respect
to such Whole Loan have been paid.

 

If a Specially Serviced
Mortgage Loan becomes a Rehabilitated Mortgage Loan and then again becomes a Specially Serviced Mortgage Loan, any right to the
Workout Fee with respect to such Whole Loan earned in connection with the initial rehabilitation thereof shall terminate and a
Liquidation Fee or a new Workout Fee for such Specially Serviced Mortgage Loan shall be calculated upon resolution of the subsequent
event that causes such Whole Loan to be a Specially Serviced Mortgage Loan or the sale, repurchase or liquidation of such Specially
Serviced Mortgage Loan or related REO Property to the extent provided in the definition thereof. A Liquidation Fee will be payable
with respect to each Specially Serviced Mortgage Loan or REO Property as to which the applicable Special Servicer receives any
Liquidation Proceeds, subject to the exceptions set forth in the definition of Liquidation Fee (such Liquidation Fee to be paid
out of such Liquidation Proceeds, Insurance Proceeds and Condemnation Proceeds). If, however, Liquidation Proceeds or Insurance
Proceeds and Condemnation Proceeds are received with respect to any Rehabilitated Mortgage Loan and the applicable Special Servicer
is properly entitled to a Workout Fee, such Workout Fee will be payable based on and out of the portion of such Liquidation Proceeds
and Insurance Proceeds and Condemnation Proceeds that constitute principal and/or interest on such Whole Loan. Notwithstanding
anything herein to the contrary, the applicable Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout
Fee, but not both, with respect to proceeds on any Whole Loan. If a Special Servicer is terminated or resigns, it will retain the
right to receive any and all Workout Fees payable in respect to (i) the related Whole Loans that became Rehabilitated Mortgage
Loans during the period that it acted as Special Servicer and remained Rehabilitated Mortgage Loans at the time of that termination
or resignation or (ii) any related Specially Serviced Mortgage Loan for which such Special Servicer has cured the event of default
under such Specially Serviced Mortgage Loan through a modification, restructuring or workout negotiated by such Special Servicer
and evidenced by a signed writing, but that had not as of the time such Special Servicer was terminated become a Rehabilitated
Whole Loan solely because it had not been a performing loan for three (3) consecutive months that subsequently becomes a Rehabilitated
Mortgage Loan as a result of the loan being a performing loan for such three (3) consecutive month period (and the successor Special
Servicer shall not be entitled to any portion of such Workout Fees), in each case until the Workout Fees cease to be payable if
the Rehabilitated Mortgage Loan again becomes a Specially Serviced Mortgage Loan. The successor Special Servicer shall not be entitled
to any portion of those Workout Fees payable to the prior Special Servicer.

 

If a Special Servicer
is terminated and a Liquidation Fee or Workout Fee is subsequently payable with respect to a related Specially Serviced Mortgage
Loan or related REO

 

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Property that was being administered by such Special Servicer at the time of termination, then the terminated
Special Servicer and the successor Special Servicer shall apportion the Liquidation Fee or Workout Fee between themselves in a
manner that reflects the relative contribution of each such servicer in obtaining the Liquidation Proceeds or effecting the workout.

 

Except as otherwise provided
herein, each Special Servicer shall pay all expenses incurred by it in connection with its servicing activities hereunder.

 

(d)           The
Servicer, the Special Servicers, the Certificate Administrator and the Trustee shall be entitled to reimbursement from the Trust
Fund for the costs and expenses incurred by them in the performance of their duties under this Agreement that are “unanticipated
expenses incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(iii) in a manner consistent
with Section 3.06. Such expenses shall include, by way of example and not by way of limitation, environmental assessments,
Appraisals and appraisals in connection with foreclosure, the fees and expenses of any administrative or judicial proceeding and
expenses expressly identified as reimbursable in Section 3.06. Notwithstanding anything to the contrary herein, neither
the Servicer nor the applicable Special Servicer shall be entitled to be reimbursed for or indemnified against the costs and expenses
that are attributable to overhead or personnel of the Servicer or such Special Servicer under any circumstances.

 

(e)            Except
for the obligation to pay losses incurred with respect to Permitted Investments as further set forth in Section 3.07, and
the payment of Compensating Interest, no provision of this Agreement or of the Certificates shall require the Servicer, the applicable
Special Servicer, the Certificate Administrator or the Trustee to expend or risk their own funds or otherwise incur any financial
liability in the performance of any of their duties hereunder or thereunder in connection with the pursuit of remedies against
any Borrower or in the exercise of any of their rights or powers if, in the reasonable business judgment of the Servicer, such
Special Servicer, the Certificate Administrator or the Trustee, as the case may be, such amounts would be a Nonrecoverable Advance;
provided, however, that, notwithstanding the foregoing, neither the Servicer nor the applicable Special Servicer
shall be entitled to be reimbursed for or indemnified against the costs and expenses that are attributable to overhead or personnel
of the Servicer or such Special Servicer under any circumstances.

 

If the Servicer, the
applicable Special Servicer, the Certificate Administrator or the Trustee receives a request or inquiry from a Borrower, any Certificateholder
or any other Person the response to which would require the assistance of Independent legal counsel or other consultant to the
Servicer, such Special Servicer, the Certificate Administrator or the Trustee (as determined in accordance with Accepted Servicing
Practices, in the case of a determination by the Servicer or such Special Servicer, or as determined in its good faith business
judgment, in the case of a determination by the Certificate Administrator or the Trustee), the cost of which would not be an expense
of the Trust Fund hereunder, then the Servicer, such Special Servicer, the Certificate Administrator or the Trustee, as the case
may be, shall not be required to take any action in response to such request or inquiry unless the Borrower or such Certificateholder
or such other Person, as applicable, makes arrangements for the payment of the Servicer’s, such Special Servicer’s,
the Certificate Administrator’s or the Trustee’s expenses associated with such

 

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counsel (including, without limitation,
posting an advance payment for such expenses) satisfactory to the Servicer, such Special Servicer, the Certificate Administrator
or the Trustee, as the case may be, in its sole discretion. Unless such arrangements have been made, the Servicer, such Special
Servicer, the Certificate Administrator or the Trustee, as the case may be, shall have no liability to any Person for the failure
to respond to such request or inquiry.

 

(f)            Notwithstanding
anything to the contrary set forth herein, the Servicer shall pay directly out of the Collection Account any servicing expense
that, if paid by the Servicer or the Special Servicer, would constitute a Nonrecoverable Advance; provided that the Servicer
or such Special Servicer, as applicable, has determined in accordance with the Accepted Servicing Practices that making such payment
is in the best interests of the Certificateholders, as evidenced by an Officer’s Certificate delivered promptly to the Certificate
Administrator, the Trustee, the Depositor and the Rating Agencies, and to the Servicer if such determination is made by the Special
Servicer, setting forth the basis for such determination and accompanied by any information that the Servicer or the Special Servicer
may have obtained that supports such determination.

 

(g)           In
determining the compensation of the Servicer or applicable Special Servicer, as applicable, with respect to Default Interest or
late payment charges, on any Distribution Date, the aggregate Default Interest and late payment charges collected on any Mortgage
Loan during the related Due Period shall be applied (in such order) to reimburse (i) the Servicer or the Trustee for interest on
Advance Interest Amounts on the related Mortgage Loan due on such Distribution Date, (ii) the Trust Fund for all Advance Interest
Amounts previously paid to the Servicer or the Trustee with respect to the related Mortgage Loan and not previously reimbursed
pursuant to this clause and (iii) the Trust Fund for all unpaid interest on Advances and Additional Trust Fund Expenses previously
incurred with respect to the related Mortgage Loan and not previously reimbursed pursuant to this clause and any Default Interest
or late payment charges remaining thereafter shall be distributed pro rata to the Servicer and the applicable Special Servicer
based upon the amount of Default Interest or late payment charges the Servicer or such Special Servicer would otherwise have been
entitled to receive during such period without any such application.

 

(h)           Pursuant
to the CREFC® License Agreement, CREFC® shall be paid (according to the payment instructions set
forth on Exhibit S hereto or such other payment instructions as CREFC® may provide from to the Servicer in
writing at least two Business Days prior to the Remittance Date) the CREFC® Intellectual Property Royalty License
Fee on a monthly basis. The Servicer shall withdraw from the Collection Account and, to the extent sufficient funds are on deposit
therein, pay the CREFC® Intellectual Property Royalty License Fee to CREFC® in accordance with Section
3.06(a)(xviii) on a monthly basis, from funds on deposit in the Collection Account.

 

Section
3.13     Reports to the Certificate Administrator; Collection Account Statements. (a) The
Servicer shall prepare, or cause to be prepared, and deliver to the Certificate Administrator, in an electronic format
reasonably acceptable to the Certificate Administrator, consistent with Accepted Servicing Practices, not later than (i) 9:00
a.m. (New York time) one (1) Business Day prior to each Distribution Date, the CREFC® Loan Periodic Update
File, (ii) 1:00 p.m. (New York time) one (1) Business Day prior to each Distribution Date, any

 

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updated CREFC® Loan Periodic Update File, if applicable, and (iii) 3:00 p.m. (New York time) one (1)
Business Day prior to each Distribution Date, the remaining CREFC® Investor Reporting Package (except the CREFC®
Bond Level File, the CREFC® Collateral Summary File, the CREFC® Special Servicer Loan File,
the CREFC® Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheet).

 

The CREFC®
Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheet shall be delivered by the Servicer to
the Certificate Administrator on a quarterly and annual basis (commencing with the quarter ending September 30, 2015 and year ending
December 31, 2015, each within 30 days after receipt by the Servicer), within 30 days after receipt by the Servicer of the financial
statements, operating statements, rent rolls, or other information required to prepare (or, if previously prepared, update) the
CREFC® Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheet, but will not
be deemed to have been received by the Certificate Administrator until such time as it is actually received.

 

(b)           The
Servicer shall furnish to the Certificate Administrator in electronic format the CREFC® Investor Reporting Package
produced by it pursuant to this Agreement not later than the time period specified in Section 3.13(a), and thereafter to
the 17g-5 Information Provider, who shall make such reports available to the Rating Agencies on its website.

 

(c)           The
Servicer shall produce the reports described in this Section 3.13 solely from information provided to the Servicer by the
Borrowers pursuant to the Loan Agreements (without modification, interpretation or analysis) or by the applicable Special Servicer,
the Mortgage Loan Seller or Depositor pursuant to this Agreement. None of the Trustee, the Certificate Administrator, the Servicer
or the applicable Special Servicer shall be responsible for the completeness or accuracy of such information (except that the Servicer
shall use efforts consistent with Accepted Servicing Practices to correct patent errors).

 

(d)           The
Certificate Administrator and the Trustee shall be entitled to rely conclusively on and shall not be responsible for the content
or accuracy of any information provided to it by the Servicer or the applicable Special Servicer pursuant to this Agreement.

 

Section 3.14     Annual
Reports on Assessment of Compliance with Servicing Criteria 

 

(a) On or before April
15 of each year, commencing in 2016, the Servicer and the applicable Special Servicer (regardless of whether such Special Servicer
has commenced special servicing of any Mortgage Loan), each at its own expense, shall furnish (and each such party shall with respect
to each Servicing Function Participant with which it has entered into a servicing relationship with respect to any Mortgage Loan,
cause such Servicing Function Participant to furnish) to the Trustee, the 17g-5 Information Provider (who shall post it to the
17g-5 Information Provider’s Website pursuant to Section 8.13(b)), the Certificate Administrator and the Depositor,
a report on an assessment of compliance with the Relevant Servicing Criteria that contains (A) a statement by such Reporting Servicer
of its responsibility for assessing compliance with the Relevant Servicing Criteria, (B) a statement that, to the best of such
reporting Servicer’s knowledge, such Reporting Servicer used the Relevant Servicing Criteria to

 

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assess compliance with the
Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria
as of and for the period ending the end of the most recent fiscal year, including, if there has been any material instance of noncompliance
with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof and (D) a statement that
a registered public accounting firm that is a member of the American Institute of Certified Public Accountants has issued an attestation
report on such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and for such period.
Copies of all compliance reports delivered pursuant to this Section 3.14 shall be made available to any Privileged Person
by the Certificate Administrator by posting such compliance report to the Certificate Administrator’s Website pursuant to
Section 8.13(b). In the event that any report, statement, document, file or other data to be delivered to the 17g-5 Information
Provider under this Agreement is too large in its electronic form to be delivered via email, such report, statement, document,
file or other data may be uploaded to an alternate location provided by the 17g-5 Information Provider, and the party uploading
such report, statement, document, file or other data shall notify the 17g-5 Information Provider via email that such report, statement,
document, file or other data has been so uploaded and is ready for posting to the 17g-5 Information Provider’s Internet Website.

 

Each such report shall
be addressed to the Depositor and signed by an authorized officer of the applicable company, and shall address the Relevant Servicing
Criteria specified on Exhibit M hereto delivered to the Depositor on the Closing Date. Promptly after receipt of each such
report, the Depositor may review each such report and, if applicable, consult with each Reporting Servicer as to the nature of
any material instance of noncompliance with the Relevant Servicing Criteria applicable to it (and each Servicing Function Participant
engaged or utilized by each Reporting Servicer, as applicable).

 

(b)           The
Servicer and the applicable Special Servicer hereby acknowledge and agree that the Relevant Servicing Criteria set forth on Exhibit
M is appropriately set forth with respect to such party and any Servicing Function Participant with which the Servicer or such
Special Servicer has entered into a servicing relationship.

 

(c)           No
later than 30 days after the end of each fiscal year for the Trust (it being understood that the fiscal year for the Trust ends
on December 31 of each year), the Servicer and the applicable Special Servicer shall notify the Trustee, the Certificate Administrator
and the Depositor as to the name of each Additional Servicer engaged by it and each Servicing Function Participant utilized by
it, in each case other than with respect to any initial sub-servicer, by providing an updated Exhibit N, and each such notice
will specify what specific Servicing Criteria will be addressed in the report on assessment of compliance prepared by such Servicing
Function Participant. When the Servicer and the applicable Special Servicer submit their assessments pursuant to Section 3.14(a),
the Servicer and such Special Servicer, as applicable, will also at such time include the assessment (and related attestation pursuant
to Section 3.16) of each Servicing Function Participant engaged by it.

 

In the event the Servicer
or a Special Servicer is terminated or resigns pursuant to the terms of this Agreement, such party shall provide, and each such
party shall cause any Servicing Function Participant engaged by it to provide (and each of the Servicer and such Special Servicer
shall (i) with respect to an initial sub-servicer engaged by such Servicer or such

 

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Special Servicer that is an Additional Servicer
that resigns or is terminated under any applicable servicing agreement, use its reasonable efforts to cause such Additional Servicer
and (ii) with respect to any other Additional Servicer that resigns or is terminated under any applicable servicing agreement,
cause such Additional Servicer to provide) an annual assessment of compliance pursuant to this Section 3.14, coupled with
an attestation as required in Section 3.16 with respect to the period of time that the Servicer or such Special Servicer
was subject to this Agreement or the period of time that the Additional Servicer was subject to such other servicing agreement.

 

Section 3.15     [Reserved]

 

Section 3.16     Annual
Independent Public Accountants’ Servicing Report. On or before April 15 of each year, commencing in 2016, the
Servicer and the applicable Special Servicer, each at its own expense, shall cause (and the Servicer and such Special Servicer
shall, with respect to each Servicing Function Participant with which it has entered into a servicing relationship with respect
to any Mortgage Loan, cause them to cause) a registered public accounting firm (which may also render other services to the Servicer,
such Special Servicer or the applicable Servicing Function Participant, as the case may be) and that is a member of the American
Institute of Certified Public Accountants to furnish a report to the Trustee, the Certificate Administrator, the Depositor, the
17g-5 Information Provider (who shall post it to the 17g-5 Information Provider’s Website pursuant to Section 8.14(a)),
to the effect that (i) it has obtained a representation regarding certain matters from the management of such Reporting Servicer,
which includes an assessment from such Reporting Servicer of its compliance with the Relevant Servicing Criteria and (ii) on the
basis of an examination conducted by such firm in accordance with standards for attestation engagements issued or adopted by the
Public Company Accounting Oversight Board, it is expressing an opinion as to whether such Reporting Servicer’s assessment
of compliance with the Relevant Servicing Criteria was fairly stated in all material respects, or it cannot express an overall
opinion regarding such party’s assessment of compliance with the Relevant Servicing Criteria. In the event that an overall
opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such
an opinion. Each accountant’s attestation report required hereunder shall be made in accordance with Rules 1-02(a)(3) and
2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. Such report must be available for general use and not
contain restricted use language. Copies of all statements delivered pursuant to this Section 3.16 shall be made available
to any Privileged Person by the Certificate Administrator posting such statement on the Certificate Administrator’s Website
pursuant to Section 8.13(b).

 

Promptly after receipt
of such report from the Servicer, the applicable Special Servicer or any Servicing Function Participant, the Depositor may review
the report and, if applicable, consult with the Servicer or such Special Servicer as to the nature of any defaults by the Servicer,
such Special Servicer or any Servicing Function Participant with which it has entered into a servicing relationship with respect
to the Mortgage Loan in the fulfillment of any of the Servicer’s, such Special Servicer’s or the applicable Servicing
Function Participants’ obligations hereunder or under the applicable sub-servicing or primary servicing agreement.

 

Section 3.17     Access
to Certain Documentation. The Servicer and the applicable Special Servicer shall provide or cause to be provided to the
Certificate Administrator and the

 

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Certificate Administrator shall afford access to the Trustee and to any Certificateholders who
are Privileged Persons, that are federally insured financial institutions, the Federal Reserve Board, the FDIC and the OTS and
the supervisory agents and examiners of such boards and such corporations, and any other governmental or regulatory body to the
jurisdiction of which any Certificateholder who are Privileged Persons is subject, the documentation regarding the Mortgage Loans
required by applicable regulations of the Federal Reserve Board, FDIC, OTS or any such governmental or regulatory body, such access
being afforded without charge but only upon reasonable request and during normal business hours. Nothing in this Section 3.17
shall detract from the obligation of the Servicer and applicable Special Servicer to observe any applicable law or comply
with any agreement prohibiting disclosure of information with respect to the Borrowers, and the failure of the Servicer and such
Special Servicer to provide information as provided in this Section 3.17 as a result of such obligation shall not constitute
a breach of this Section 3.17.

 

Section 3.18     Title
and Management of REO Properties and REO Account.

 

(a) The applicable Special
Servicer, on behalf of the Trust Fund, shall dispose of any REO Property prior to the close of the third calendar year beginning
after the year in which the Trustee acquires ownership of such REO Property for purposes of Section 860G(a)(8) of the Code, unless
(i) such Special Servicer on behalf of the Lower-Tier REMIC has applied for an extension of such period pursuant to Sections 856(e)(3)
and 860G(a)(8)(A) of the Code, and such application has been granted (or not denied) in which case such Special Servicer shall
sell such REO Property within the applicable extension period or (ii) such Special Servicer seeks and subsequently receives an
Opinion of Counsel (which opinion shall be an expense of the Trust Fund, allocable as provided in Section 3.06), addressed
to such Special Servicer, the Certificate Administrator and the Trustee, to the effect that the holding by the Trustee of such
REO Property for an additional specified period will not cause such REO Property to fail to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of Section
860D(a) of the Code) at any time that any Certificate is outstanding, in which event such period shall be extended by such additional
specified period subject to any conditions set forth in such Opinion of Counsel. Such Special Servicer shall cause such REO Property
to be managed and operated by an Independent Contractor. Notwithstanding the foregoing, such Special Servicer shall use its reasonable
efforts to sell any REO Property prior to the Rated Final Distribution Date for the Regular Certificates. Such Special Servicer,
on behalf of the Trust Fund, shall dispose of any REO Property held by the Trustee prior to the last day of such period (taking
into account extensions) by which such REO Property is required to be disposed of pursuant to the provisions of this Section
3.18(a) in a manner provided under Section 3.19. The applicable Special Servicer shall manage, conserve, protect and
operate each REO Property for the Certificateholders solely for the purpose of its prompt disposition and sale in a manner that
does not cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code (determined without regard to the exception applicable for purposes of Section 860D(a)).

 

(b)           The
applicable Special Servicer shall have full power and authority, subject only to the specific requirements and prohibitions of
this Agreement, to do any and all things in connection with any REO Property as are consistent with Accepted Servicing Practices
and otherwise consistent with the manner in which such Special Servicer manages and operates

 

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similar property owned or managed
by such Special Servicer or any of its Affiliates, all on such terms and for such period as such Special Servicer deems in accordance
with Accepted Servicing Practices to be in the best interests of Certificateholders and, in connection therewith, such Special
Servicer shall agree to the payment of management fees that are consistent with general market standards. Consistent with the foregoing,
the applicable Special Servicer shall cause or permit to be earned with respect to such REO Property any “net income from
foreclosure property,” within the meaning of Section 860G(c) of the Code, that is subject to tax under the REMIC Provisions
only if it has determined, and has so advised the Certificate Administrator and the Trustee in writing, that the earning of such
income on a net after tax basis could reasonably be expected to result in a greater recovery on behalf of Certificateholders than
an alternative method of operation or rental of such REO Property that would not be subject to such a tax. The Pearlridge Special
Servicer shall segregate and hold all revenues, income or proceeds received by it with respect to any REO Property separate and
apart from its own funds and general assets and shall establish and maintain with respect to any REO Property a segregated custodial
account (the “Pearlridge REO Account”), which shall be an Eligible Account and shall be entitled “KeyBank
National Association, as Pearlridge Special Servicer, on behalf of Wells Fargo Bank, National Association, as Trustee, on behalf
of the Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG REO Account”. The Scottsdale Special Servicer shall segregate and hold all revenues, income or proceeds received
by it with respect to any REO Property separate and apart from its own funds and general assets and shall establish and maintain
with respect to any REO Property a segregated custodial account (the “Scottsdale REO Account”, and together
with the Pearlridge REO Account, collectively the “REO Account”), which shall be an Eligible Account and shall
be entitled “Pacific Life Insurance Corporation, as Scottsdale Special Servicer, on behalf of Wells Fargo Bank, National
Association, as Trustee, on behalf of the Holders of JP Morgan Chase Commercial Mortgage Securities Trust 2015-WPG, Commercial
Mortgage Pass-Through Certificates, Series 2015-WPG REO Account”. The applicable Special Servicer shall maintain separate
books and records for each REO Property. The applicable Special Servicer shall be entitled to withdraw for its account any interest
or investment income earned on funds deposited in an REO Account to the extent provided in Section 3.07(c). The applicable
Special Servicer shall deposit or cause to be deposited in the related REO Account within one Business Day after receipt all revenues
received by it with respect to any related REO Property (other than Liquidation Proceeds), and shall withdraw therefrom funds necessary
for the proper operation, management and maintenance of such REO Property and for other Property Protection Expenses with respect
to such REO Property, including:

 

(i)            all
insurance premiums due and payable in respect of any REO Property;

 

(ii)           all
real estate taxes and assessments in respect of any REO Property that may result in the imposition of a lien thereon;

 

(iii)          all
costs and expenses reasonable and necessary to protect, maintain, manage, operate, repair and restore any REO Property; and

 

(iv)          any
taxes imposed on either Trust REMIC in respect of net income from foreclosure property in accordance with Section 4.05.

 

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To the extent that such
REO Income is insufficient for the purposes set forth in clauses (i) through (iv) above and the applicable Special
Servicer has provided written notice of such shortfall to the Servicer at least five Business Days prior to the date that such
amounts are due, the Servicer shall advance the amount of such shortfall unless the Servicer determines that such Advance would
be a Nonrecoverable Advance. If the Servicer does not make any such Advance in violation of the immediately preceding sentence,
the Trustee shall make such Advance, unless the Trustee determines in its good faith judgment that such Advance would be a Nonrecoverable
Advance. The Trustee shall be entitled to rely, conclusively, on any determination by the Servicer that an Advance, if made, would
be a Nonrecoverable Advance. The Servicer and the Trustee, as applicable, shall be entitled to reimbursement of such Advances (with
interest at the Advance Interest Rate) made pursuant to the preceding sentence, to the extent set forth in Section 3.06.
The applicable Special Servicer shall withdraw from each REO Account and remit to the Servicer for deposit into the Collection
Account on a monthly basis on or prior to the related Determination Date the Net REO Income received or collected from each REO
Property, except that in determining the amount of such Net REO Income, the applicable Special Servicer may retain in each REO
Account reasonable reserves for repairs, replacements and necessary capital improvements and other related expenses.

 

Notwithstanding the foregoing,
the applicable Special Servicer shall not:

 

(i)            permit
the Trust Fund to enter into, renew or extend any New Lease, if the New Lease by its terms will give rise to any income that does
not constitute Rents from Real Property;

 

(ii)           permit
any amount to be received or accrued under any New Lease, other than amounts that will constitute Rents from Real Property;

 

(iii)          authorize
or permit any construction on any REO Property, other than the repair or maintenance thereof or the completion of a building or
other improvement thereon, and then only if more than 10 percent of the construction of such building or other improvement was
completed before default on the related Mortgage Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the Code;
or

 

(iv)          Directly
Operate or allow any Person to Directly Operate any REO Property on any date more than 90 days after its date of acquisition by
the Trust Fund, unless such Person is an Independent Contractor;

 

unless, in any such case, the applicable
Special Servicer has requested and received an Opinion of Counsel addressed to such Special Servicer, the Certificate Administrator
and the Trustee (which opinion shall be an expense of the Trust Fund) to the effect that such action will not cause such REO Property
to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined without
regard to the exception applicable for purposes of Section 860D(a) of the Code) at any time that it is held by the Trust Fund,
in which case such Special Servicer may take such actions as are specified in such Opinion of Counsel.

 

The applicable Special
Servicer shall contract with an Independent Contractor for the operation and management of the REO Property, the fees and expenses
of which shall be an

 

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expense of the Trust Fund and payable out of REO Income, within 90 days of the Trust Fund’s acquisition
thereof (unless such Special Servicer shall have provided the Trustee and the Certificate Administrator with an Opinion of Counsel
that the operation and management of any REO Property other than through an Independent Contractor shall not cause such REO Property
to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code) (which opinion shall
be an expense of the Trust, allocable as provided in Section 3.06), provided that:

 

(i)            the
terms and conditions of any such contract shall be reasonable and customary for the area and type of property and shall not be
inconsistent herewith;

 

(ii)           any
such contract shall require, or shall be administered to require, that the Independent Contractor pay all costs and expenses incurred
in connection with the operation and management of such REO Property, including those listed above, and remit all related revenues
(net of such costs and expenses) to the applicable Special Servicer as soon as practicable, but in no event later than thirty days
following the receipt thereof by such Independent Contractor;

 

(iii)          none
of the provisions of this Section 3.18(b) relating to any such contract or to actions taken through any such Independent
Contractor shall be deemed to relieve the applicable Special Servicer of any of its duties and obligations to the Trust Fund, the
Trustee on behalf of the Certificateholders with respect to the operation and management of any such REO Property; and

 

(iv)          the
applicable Special Servicer shall be obligated with respect thereto to the same extent as if it alone were performing all duties
and obligations in connection with the operation and management of such REO Property.

 

The applicable Special
Servicer shall be entitled to enter into any agreement with any Independent Contractor performing services for it related to its
duties and obligations hereunder for indemnification of such Special Servicer by such Independent Contractor, and nothing in this
Agreement shall be deemed to limit or modify such indemnification.

 

(c)           Promptly
following any acquisition by the applicable Special Servicer on behalf of the Trust Fund of an REO Property, such Special Servicer
shall obtain an Appraisal thereof, but only if any existing Appraisal with respect thereto is more than nine months old or such
Special Servicer is aware of any change in circumstances that might affect the validity of such existing Appraisal, to determine
the fair market value of such REO Property and shall notify the Depositor, the Trustee, the applicable Special Servicer and the
Certificate Administrator (and the Certificate Administrator shall notify Certificateholders of the results of such Appraisal).
The cost of such Appraisal shall be paid by the Servicer as a Servicing Advance, allocable as provided in Section 3.06(c).

 

(d)           When
and as necessary, the applicable Special Servicer shall send to the Certificate Administrator and the Trustee a statement prepared
by such Special Servicer setting forth the amount of net income or net loss, as determined for federal income tax purposes, resulting
from the operation and management of a trade or business on, the furnishing or

 

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rendering of a non-customary service to the tenants
of, or the receipt of any other amount not constituting Rents from Real Property in respect of, any REO Property in accordance
with Sections 3.18(a) and 3.18(b).

 

Section 3.19     Sale
of Defaulted Mortgage Loans and REO Properties. (a) (i) Within thirty (30) days after a Mortgage Loan has become a Specially Serviced Mortgage Loan, the applicable Special Servicer
shall order (but shall not be required to have received) an Appraisal of the related Mortgaged Property and within thirty (30)
days of receipt of the Appraisal shall determine the fair value of such Defaulted Mortgage Loan in accordance with the Accepted
Servicing Practices and notify the Servicer of such determination; provided, however, that if such Special Servicer
is then in the process of obtaining an Appraisal with respect to the related Mortgaged Property, such Special Servicer shall make
its fair value determination as soon as reasonably practicable (but in any event within thirty (30) days) after its receipt of
such an Appraisal. Notwithstanding the foregoing, if an Appraisal has been obtained pursuant to Section 3.10 that is not
more than nine months old, and the applicable Special Servicer has no knowledge of any event that would question the validity
of such Appraisal, no new Appraisal will be required under this Section. The applicable Special Servicer may, from time to time,
adjust its fair value determination based upon changed circumstances, new information and other relevant factors, in each instance
in accordance with a review of such circumstances and new information in accordance with Accepted Servicing Practices.

 

(ii)           [Reserved]

 

(iii)          [Reserved]

 

(iv)          If
any Mortgage Loan becomes a Specially Serviced Mortgage Loan that is a Defaulted Mortgage Loan, the applicable Special Servicer
may offer to sell to any Person any such Specially Serviced Mortgage Loan or may offer to purchase any Specially Serviced Mortgage
Loan, if and when the applicable Special Servicer determines, consistent with Accepted Servicing Practices, that no satisfactory
arrangements can be made for collection of delinquent payments thereon and such a sale would be in the best economic interests
of the Trust Fund on a net present value basis. The applicable Special Servicer is required to give the Trustee and the Certificate
Administrator not less than 5 days prior written notice of its intention to sell any Specially Serviced Mortgage Loan, in which
case applicable Special Servicer is required to accept the highest offer received from any person for the related Whole Loan in
an amount at least equal to the Purchase Price or, at its option, if it has received no offer at least equal to the Purchase Price
therefor, purchase such Specially Serviced Mortgage Loan at such Purchase Price.

 

(v)           (A)
In the absence of any offer at least equal to the Purchase Price pursuant to clause (iv) above (or purchase by the Special
Servicer for such price), the applicable Special Servicer shall, subject to subclause (B) below, accept the highest offer
received from any Person that is determined by such Special Servicer to be a fair price for such Specially Serviced Mortgage Loan,
if the highest offeror is a Person other than an Interested Person. The Trustee (based upon updated Appraisals (the cost of which
shall be paid by the Servicer as a Servicing Advance) received by the Trustee) shall determine

 

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the fair price for the Specially
Serviced Mortgage Loan if the highest offeror is an Interested Person, and any such determination by the Trustee shall be binding
upon all parties.

 

(B) Consistent
with the terms of the Co-Lender Agreements, if a Mortgage Loan becomes a Specially Serviced Mortgage Loan, then the applicable
Special Servicer shall sell the entire Whole Loan and shall require that all offers be submitted to the Certificate Administrator
in writing and be accompanied by a refundable deposit of cash in an amount equal to 5% of the offer amount (subject to a cap of
$2,500,000). Consistent with the Co-Lender Agreements, 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 offers are received from independent third parties.

 

(C) The applicable
Special Servicer will not be obligated to accept the highest offer if such Special Servicer determines, in accordance with Accepted
Servicing Practices, that the rejection of such offer would be in the best interests of the holders of Certificates and related
Companion Loan Holders as if they constituted a single lender. In addition, the applicable Special Servicer may accept a lower
offer for any such Specially Serviced Mortgage Loan if it determines, in accordance with Accepted Servicing Practices, that the
acceptance of such offer would be in the best interests of the holders of Certificates and related Companion Loan Holders (as if
they constituted a single lender) (for example, if the prospective buyer making the lower offer is more likely to perform its obligations,
or the terms offered by the prospective buyer making the lower offer are more favorable); provided that the offeror is not
the applicable Special Servicer or a Person that is an Affiliate of such Special Servicer. The applicable Special Servicer shall
use reasonable efforts to sell all Specially Serviced Mortgage Loans prior to the Rated Final Distribution Date. For the avoidance
of doubt, the Trustee shall have no obligation to make any fair value determination, to the extent required to do so pursuant to
this Section 3.19, on the basis of anything other than the related Appraisal and the evaluation by an independent third
party expert.

 

(vi)          If
the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair price, the Trustee may (at
its option and at the expense of the Trust) designate an independent third party expert in real estate or commercial mortgage loan
matters with at least 5 years’ experience in valuing or investing in loans similar to the subject mortgage loan, that has
been selected with reasonable care by the Trustee to determine if such cash offer constitutes a fair price for such mortgage loan.
If the Trustee designates such a third party to make such determination, the Trustee shall be entitled to rely conclusively upon
such third party’s determination. The reasonable fees and costs of all appraisals, inspection reports and broker opinions
of value incurred by any such third party shall be paid as a Servicing Advance by the Servicer, and otherwise as an expense of
the Trust. The Trustee may reasonably request such information as is reasonably required from the Servicer or the applicable Special
Servicer, as applicable, in making its determination and may rely on any Appraisals and other information given to the Trustee
by the Servicer or such Special Servicer, as applicable. Neither the Trustee, in its individual capacity, nor any of its Affiliates
may make an offer for or purchase any Specially Serviced Mortgage Loan.

 

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(vii)         Unless
and until any Specially Serviced Mortgage Loan is sold pursuant to this Section 3.19, the applicable Special Servicer shall
pursue such other resolution strategies with respect to such Specially Serviced Mortgage Loan, including, without limitation, workout
and foreclosure, as such Special Servicer may deem appropriate, consistent with the Asset Status Report and Accepted Servicing
Practices and the REMIC Provisions.

 

(b)           (i)
(A) The applicable Special Servicer may purchase any REO Property (at the Purchase Price therefor). The applicable Special Servicer
may also offer to sell to any Person any REO Property, if and when such Special Servicer determines, consistent with Accepted Servicing
Practices, that such a sale would be in the best economic interest of the Trust Fund. The Special Servicer shall give the Trustee
and the Certificate Administrator and the Servicer, not less than five (5) Business Days’ prior written notice of the Purchase
Price and its intention to (i) purchase any REO Property at the Purchase Price therefor or (ii) sell any REO Property, in which
case such Special Servicer shall accept the highest bid received from any Person for any REO Property in an amount at least equal
to the Purchase Price therefor. To the extent permitted by applicable law, and subject to Accepted Servicing Practices, the Servicer,
an Affiliate of the Servicer, the applicable Special Servicer or an Affiliate of such Special Servicer, or an employee of either
of them may act as broker in connection with the sale of any REO Property and may retain from the proceeds of such sale a brokerage
commission that does not exceed the commission that would have been earned by an independent broker pursuant to a brokerage agreement
entered into at arm’s length.

 

(B)          In
the absence of any such bid as set forth in subclause (A) above, the applicable Special Servicer shall, subject to subclause
(C) below, accept the highest bid received from any Person that is determined by such Special Servicer to be a fair price for
such REO Property, if the highest bidder is a Person other than an Interested Person, or if such price is determined to be such
a price by the Trustee, if the highest bidder is an Interested Person. Notwithstanding anything to the contrary herein, neither
the Trustee, in its individual capacity, nor any of its Affiliates may make an offer for or purchase any REO Property pursuant
hereto. If the Trustee is required to determine whether a cash bid by an Interested Person constitutes a fair price, the Trustee
may (at its option and at the expense of the Trust) designate an independent third party expert in real estate or commercial mortgage
loan matters with at least 5 years’ experience in valuing or investing in loans similar to the subject mortgage loan, that
has been selected with reasonable care by the Trustee to determine if such cash bid constitutes a fair price for such mortgage
loan. If the Trustee designates such a third party to make such determination, the Trustee shall be entitled to rely conclusively
upon such third party’s determination. The reasonable fees and costs of all appraisals, inspection reports and broker opinions
of value incurred by any such third party shall be paid as a Servicing Advance, subject to the Servicer’s determination of
recoverability, by the Servicer, and otherwise as an expense of the Trust.

 

(C)          The
applicable Special Servicer shall not be obligated by either of the foregoing paragraphs or otherwise to accept the highest offer
if such Special Servicer determines, in accordance with Accepted Servicing Practices, that rejection of such offer would be in
the best interests of the Certificateholders (as if they constituted a single

 

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lender). In addition, such Special Servicer may accept
a lower offer if it determines, in accordance with Accepted Servicing Practices, that acceptance of such offer would be in the
best interests of the Certificateholders (as if they constituted a single lender) (for example, if the prospective buyer making
the lower offer is more likely to perform its obligations, or the terms offered by the prospective buyer making the lower offer
are more favorable).

 

(D)          In
determining whether any offer received from an Interested Person represents a fair price for any REO Property, the Trustee shall
obtain and may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate matters
retained by the Trustee, the cost of which shall be covered by, and shall be reimbursable as, a Servicing Advance, and otherwise
as an expense of the Trust. In determining whether any offer constitutes a fair price for any REO Property, the applicable Special
Servicer or the Trustee (or, if applicable, such appraiser) shall take into account, and any appraiser or other expert in real
estate matters shall be instructed to take into account, as applicable, among other factors, the physical condition of such REO
Property, the state of the local economy and the Trust Fund’s obligation to comply with REMIC Provisions.

 

(ii)          Subject
to Accepted Servicing Practices, the applicable Special Servicer shall act on behalf of the Trust Fund in negotiating and taking
any other action necessary or appropriate in connection with the sale of any REO Property, including the collection of all amounts
payable in connection therewith. A sale of any REO Property shall be without recourse to, or representation or warranty by, the
Trustee, the Certificate Administrator, the Depositor, the Servicer, either Special Servicer or the Trust Fund (except that any
contract of sale and assignment and conveyance documents may contain customary warranties of title, so long as the only recourse
for breach thereof is to the Trust Fund) and, if consummated in accordance with the terms of this Agreement, none of the Servicer,
the Special Servicer, the Depositor, the Certificate Administrator nor the Trustee shall have any liability to the Trust Fund or
any Certificateholder with respect to the purchase price therefor accepted by the applicable Special Servicer, the Certificate
Administrator or the Trustee.

 

(c)          Any
sale of a Defaulted Mortgage Loan or any REO Property shall be for cash only (unless changes in the REMIC Provisions or authoritative
interpretations thereof made or issued subsequent to the Startup Day allow a sale for other consideration).

 

(d)          Notwithstanding
anything to the contrary herein, the applicable Special Servicer shall not sell any Whole Loan pursuant to Section 3.19(a)
without the written consent of each related Companion Loan Holder (provided that such consent is not required from a Companion
Loan Holder if such Companion Loan Holder is the Borrower or an Affiliate of the Borrower) unless such Special Servicer has delivered
to each Companion Loan Holder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell such Whole
Loan; (b) at least 10 days prior to the permitted sale date, a copy of each bid package (together with any material amendments
to such bid packages) received by such Special Servicer in connection with any such proposed sale; (c) at least 10 days prior to
the proposed sale date, a copy of the most recent appraisal for such Whole Loan, and any documents in the Mortgage File reasonably

 

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requested by such Companion Loan Holder that are material to the price of such Whole Loan; and (d) until the sale is completed,
and a reasonable period of time (but no less time than is afforded to other offerors) prior to the proposed sale date, all information
and other documents being provided to other offerors and all leases or other documents that are approved by the Servicer or such
Special Servicer in connection with the proposed sale; provided that such Companion Loan Holder may waive any of the delivery
or timing requirements set forth in this sentence. Each Companion Loan Holder will be permitted to make offers to purchase, and
either such party is permitted to be the purchaser at any sale of, such Whole Loan.

 

Section 3.20     Additional
Obligations of the Servicer and Special Servicer; Inspections; Successor Manager. (a) The Servicer (or with respect to
Specially Serviced Mortgage Loans and REO Properties, the applicable Special Servicer) shall inspect or cause to be inspected
(at their respective expense) each Mortgaged Property in such manner as is consistent with Accepted Servicing Practices, commencing
with the calendar year 2015, each Mortgaged Property at least once every calendar year, provided that if any Mortgage Loan
becomes a Specially Serviced Mortgage Loan, then each related Mortgaged Property shall be inspected at the expense of the Trust
Fund (allocable as provided in Section 3.06) by the applicable Special Servicer as soon as practicable.

 

(b)           With
respect to each Mortgage Loan, the Servicer or the applicable Special Servicer shall enforce the Trustee’s rights with respect
to the Manager under the related Mortgage Loan Documents and Management Agreement. If the Servicer or the applicable Special Servicer,
as applicable, is entitled to terminate the Manager on any Mortgaged Property due to a default by such Manager under the terms
of its management agreement or otherwise intends to terminate the Manager, the Servicer or such Special Servicer, as applicable,
shall promptly give notice to the Trustee and the Certificate Administrator (who shall copy the Certificateholders), the Mortgage
Loan Seller, the 17g-5 Information Provider and the Depositor. To the extent Servicer or the applicable Special Servicer, as applicable,
is entitled, to appoint a successor manager in accordance with the terms of the Mortgage Loan Documents, the Servicer or such Special
Servicer, as applicable, shall decide whether to effect such recommendation based upon Accepted Servicing Practices.

 

Section 3.21     Appointment
of Custodians. The Certificate Administrator may, with notice to the Servicer, appoint one or more third-party Custodians
to hold all or a portion of the Mortgage Files as agent for the Certificate Administrator. Each such Custodian shall be a depository
institution subject to supervision by federal or state authority, shall have combined capital and surplus of at least $15,000,000
and shall be qualified to do business in the jurisdiction in which it holds any Mortgage File and shall not be the Depositor or
any Affiliate of the Depositor. Each such Custodian shall be subject to the same obligations and standard of care as would be
imposed on the Certificate Administrator hereunder in connection with the retention of Mortgage Files directly by the Certificate
Administrator. The appointment of one or more third-party Custodians shall not relieve the Certificate Administrator from any
of its obligations hereunder, and the Certificate Administrator shall remain responsible for all acts and omissions of any such
Custodian. Any such Custodian appointed hereunder must maintain a fidelity bond and errors and omissions policy in an amount customary
for Custodians that serve in such capacity in commercial mortgage loan securitization transactions.

 

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Section 3.22     [Reserved].

 

Section 3.23     Lock
Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts. The Servicer shall administer each Lock
Box Account, Cash Collateral Account, Escrow Account and Reserve Account in accordance with the related Mortgage or Loan Agreement,
Cash Collateral Account Agreement or Lock Box Agreement, if any. The Servicer shall seek to enforce any provisions of any Mortgage
or Loan Agreement that provide for the establishment of a lock box or other collateral account under certain circumstances, and
the Depositor and the Mortgage Loan Seller will take all reasonable action to assist with such enforcement. Any expenses involved
in the enforcement of such agreements shall be an expense of the Trust Fund (allocable as provided in Section 3.06). In
addition, the Servicer (or, with respect to any Specially Serviced Mortgage Loan, the applicable Special Servicer), is required
to make certain, in accordance with Accepted Servicing Practices, that all maintenance and repairs required to be made by the
related Borrower relating to any Escrow Account are completed in the manner set forth, and within the time requirements specified,
in the related Mortgage Loan Documents.

 

Section 3.24     Servicing
Advances. (a) The Servicer (or, to the extent specifically provided in this Section 3.24, the Trustee) shall make
any Servicing Advances as and to the extent required pursuant to the terms hereof. The Servicer shall make such Servicing Advances
as are necessary to protect and preserve the security for each Whole Loan, as determined by the Servicer or the applicable Special
Servicer in accordance with Accepted Servicing Practices (subject to the limitations regarding Nonrecoverable Advances). For purposes
of distributions to Certificateholders and compensation to the Servicer, the Certificate Administrator or the Trustee, Servicing
Advances shall not be considered to increase the principal balance of any Mortgage Loan, notwithstanding that the terms of such
Mortgage Loan so provide. With respect to any Specially Serviced Mortgage Loan, the applicable Special Servicer shall give the
Servicer and the Trustee not less than five (5) Business Days’ written notice before the date on which the Servicer is requested
to make any Servicing Advance with respect to any Mortgage Loan, any related Companion Loans or any REO Property; provided,
however, that only three (3) Business Days’ written notice shall be required in respect of Servicing Advances required
to be made on an urgent or emergency basis (which may include, without limitation, Servicing Advances required to make tax or
insurance payments). If a Special Servicer requests that the Servicer make an Advance, the Servicer may conclusively rely on such
request as evidence that such advance is not a Nonrecoverable Advance; provided, however, that no Special Servicer
shall be entitled to make such a request more frequently than once per calendar month with respect to Advances other than emergency
Advances (although such request may relate to more than one Advance). In addition, the applicable Special Servicer shall provide
the Servicer with such information in its possession as the Servicer may reasonably request to enable the Servicer to determine
whether a requested Servicing Advance would constitute a Nonrecoverable Advance.

 

(b)           [Reserved]

 

(c)            Neither
the Servicer nor the Trustee shall be obligated to make a Servicing Advance as to any Mortgage Loan, any related Companion Loans
or any REO Property if the applicable Special Servicer, the Servicer or the Trustee, as applicable, determines (in its sole discretion)
that such Advance will be a Nonrecoverable Advance. The Servicer shall consider an

 

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Unliquidated Advance in respect of prior Servicing
Advances for the purpose of recoverability determinations as if such Unliquidated Advance were an unreimbursed Servicing Advance.
The Trustee shall be entitled to rely, conclusively, on any determination by the Servicer or the applicable Special Servicer, as
the case may be, that a Servicing Advance, if made, would be a Nonrecoverable Advance. The Servicer shall be entitled to rely,
conclusively, on any determination by the applicable Special Servicer that a Servicing Advance, if made, would be a Nonrecoverable
Advance. Notwithstanding the foregoing, the Servicer may, but shall not be obligated to, make a Servicing Advance, even if such
Advance would be nonrecoverable, if the Servicer determines in its sole discretion that making such Advance would be in the best
interest of the Certificateholders and the Companion Loan Holders (as if they constituted a single lender).

 

(d)           The
Servicer or the Trustee, as applicable, shall be entitled to the reimbursement of Servicing Advances made by any of them in accordance
with Section 3.06, together with any related Advance Interest Amount in respect of such Servicing Advances, and the Servicer
hereby covenants and agrees to promptly seek and effect the reimbursement of such Servicing Advances from the related Borrowers
to the extent permitted by applicable law and the related Mortgage Loan Documents. With respect to Advances made on all Mortgage
Loans, the Trustee shall be entitled to recover all of its respective Advances (and interest accrued thereon) before the Servicer
is entitled to recover any of its aggregate Advances (and interest accrued thereon).

 

(e)           Each
reference to the payment or reimbursement of a Servicing Advance shall be deemed to include, whether or not specifically referred
to, payment or reimbursement of Advance Interest Amounts from and including the date of the making of such Advance through and
including the date of payment or reimbursement.

 

(f)            Notwithstanding
anything to the contrary contained in this Agreement, if the applicable Special Servicer is required under any other provision
of this Agreement to direct the Servicer to make a Servicing Advance or is otherwise aware a reasonable period in advance that
it is reasonably likely that such Special Servicer will incur a cost or expense that will, when incurred, constitute a Servicing
Advance, such Special Servicer shall request that the Servicer make such Servicing Advance, such request to be made in writing
and in a timely manner that does not materially and adversely affect the interest of any Certificateholder and at least five Business
Days (or three (3) Business Days’ with respect to Servicing Advances required to be made on an urgent or emergency basis)
prior to the date on which failure to make such Servicing Advance would (with notice from the Trustee regardless of whether such
notice is actually received) constitute a Termination Event pursuant to Section 7.01(a)(vii). The Servicer shall have the
obligation to make any such Servicing Advance that it is requested by the applicable Special Servicer to make within five Business
Days (or three (3) Business Days’ with respect to Servicing Advances required to be made on an urgent or emergency basis)
of the Servicer’s receipt of such request and such information and documents as are reasonably necessary for the Servicer
to make such Servicing Advance. The Servicer shall be entitled to reimbursement for any Servicing Advance made by it at the direction
of the applicable Special Servicer, together with Advance Interest Amounts, at the same time, in the same manner and to the same
extent as the Servicer is entitled with respect to any other Servicing Advance made thereby.

 

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Notwithstanding the foregoing
provisions of this Section 3.24(f) or any other provision of this Agreement to the contrary, the Servicer shall not be required
to make, at the applicable Special Servicer’s direction, any Servicing Advance if the Servicer determines in its reasonable
judgment that the Servicing Advance that such Special Servicer is directing the Servicer to reimburse it for hereunder, although
not characterized by such Special Servicer as a Nonrecoverable Advance, is or would be, if made, a Nonrecoverable Advance. The
Servicer shall notify the applicable Special Servicer, the Certificate Administrator and the Trustee in writing of such determination.

 

Section 3.25     Appointment
of Special Servicer. (a) (i) KeyBank National Association will act as the initial Pearlridge Special Servicer to service
the Pearlridge Mortgage Loan if such mortgage loan becomes a Specially Serviced Mortgage Loan and perform the other obligations
of the Special Servicer hereunder with respect to the Pearlridge Mortgage Loan; and (ii) Pacific Life Insurance Corporation will
act as the initial Scottsdale Special Servicer to service the Scottsdale Mortgage Loan if such mortgage loan becomes a Specially
Serviced Mortgage Loan and perform the other obligations of the Special Servicer hereunder with respect to the Scottsdale Mortgage
Loan.

 

(b)           If
there is a Special Servicer Termination Event with respect to a Special Servicer, such Special Servicer may be removed and replaced
pursuant to Sections 7.01(c) and 7.02. The Certificate Administrator shall, promptly after receiving notice of any
such removal, so notify the Servicer and each Rating Agency. If the replacement designated in such notice is consented to by the
Trustee and the Certificate Administrator (such consent not to be unreasonably withheld), the termination of the applicable Special
Servicer and appointment of a successor Special Servicer pursuant to this Section 3.25(b) shall not be effective until (i)
Rating Agency Confirmation is provided to the Trustee and the Certificate Administrator regarding such appointment, (ii) the successor
Special Servicer has assumed all of its responsibilities, duties and liabilities hereunder pursuant to a writing reasonably satisfactory
to the Trustee and the Certificate Administrator and (iii) receipt by the Trustee and the Certificate Administrator of an Opinion
of Counsel to the effect that (x) the designation of such replacement to serve as Special Servicer is in compliance with this Agreement,
(y) such replacement will be bound by the terms of this Agreement and (z) this Agreement will be enforceable against such replacement
in accordance with its terms. The Certificate Administrator shall promptly provide copies to the terminated Special Servicer of
the documents referred to in the preceding sentence. Any successor Special Servicer shall make the representations and warranties
provided for in Section 2.04(a) mutatis mutandis.

 

The applicable existing
Special Servicer shall be deemed to have been removed simultaneously with such designated Person’s becoming the Special Servicer
hereunder; provided, however, that such Special Servicer removed pursuant to this Section (i) shall be entitled
to receive, and shall have received, all amounts accrued or owing to it under this Agreement on or prior to the effective date
of such removal and shall continue to be entitled to any rights that accrued prior to the date of such removal (including the right
to receive all fees, expenses and other amounts accrued or owing to it under this Agreement, plus interest at the Advance Interest
Rate on all such amounts until received to the extent such amounts bear interest as provided in this Agreement, with respect to
periods prior to the date of such removal) notwithstanding any such removal and (ii) notwithstanding any such removal, shall be
entitled

 

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(and the successor Special Servicer shall not be entitled) to receive any and all Workout Fees payable with respect to
such Mortgage Loan, provided (A) such Mortgage Loan became a Rehabilitated Mortgage Loan during the period in which such
removed Special Servicer was acting as Special Servicer thereof and (B) such Mortgage Loan was a Rehabilitated Mortgage Loan at
the time of removal of such Special Servicer or such Special Servicer has cured the event of default under such Mortgage Loan through
a modification, restructuring or workout negotiated by such Special Servicer and evidenced by a signed writing, but that had not
as of the time such Special Servicer was terminated become a Rehabilitated Mortgage Loan solely because it had not been a performing
loan for 3 consecutive months and that subsequently becomes a Rehabilitated Mortgage Loan as a result of the loan being a performing
loan for such 3 consecutive month period (such entitlement to continue until the Workout Fee for such Mortgage Loan ceases to be
payable hereunder). In addition, if the Special Servicer is terminated for any reason hereunder and a Liquidation Fee or Workout
Fee is subsequently payable with respect to a related Specially Serviced Mortgage Loan or related REO Property that was being administered
by such Special Servicer at the time of termination, then the terminated Special Servicer and the successor Special Servicer shall
apportion the Liquidation Fee or Workout Fee between themselves in a manner that reflects the relative contribution of each such
servicer in obtaining the Liquidation Proceeds. Such removed Special Servicer shall cooperate with the Trustee and the Certificate
Administrator and the replacement Special Servicer in effecting the termination of the resigning Special Servicer’s responsibilities
and rights hereunder, including without limitation the transfer within two Business Days to the successor Special Servicer for
administration by it of all cash amounts that are thereafter received with respect to the Mortgage Loans.

 

(c)           The
appointment of any such successor Special Servicer shall not relieve the Servicer or the Trustee of their respective obligations
to make Advances as set forth herein; provided, however, that the Servicer shall not be liable for any actions or
any inaction of such successor Special Servicer.

 

Section 3.26     Transfer
of Servicing Between Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event
has occurred with respect to any Mortgage Loan, the Servicer or the applicable Special Servicer, as applicable, shall promptly
give notice to the Servicer or such Special Servicer, as applicable, and the Servicer shall deliver an electronic copy of the
related Servicing File to such Special Servicer and shall use its reasonable efforts to provide such Special Servicer with all
information, documents and records (including records stored electronically on computer tapes, magnetic discs and the like) relating
to the Mortgage Loan in the Servicer’s possession, and reasonably requested by such Special Servicer to enable it to assume
its functions hereunder with respect thereto. The Servicer shall use its reasonable efforts to comply with the preceding sentence
within 5 Business Days of the occurrence of each related Servicing Transfer Event and in any event shall continue to act as Servicer
and administrator of such Mortgage Loan until the applicable Special Servicer has commenced the servicing of such Mortgage Loan.
The Servicer shall deliver to the Certificate Administrator and the Trustee a copy of the notice of such Servicing Transfer Event
provided by the Servicer to the applicable Special Servicer, or by such Special Servicer to the Servicer, pursuant to this Section
3.26.

 

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Upon determining that
a Specially Serviced Mortgage Loan (other than an REO Mortgage Loan) has become current and has remained current for three consecutive
Monthly Payments (provided that (i) no additional Servicing Transfer Event is foreseeable in the reasonable judgment of
the applicable Special Servicer, and (ii) for such purposes taking into account any modification or amendment of such Mortgage
Loan, and that no other Servicing Transfer Event is continuing with respect thereto, the applicable Special Servicer shall immediately
give notice thereof to the Servicer, and shall return the related Mortgage File to the Certificate Administrator (if applicable)
and Servicing File to the Servicer (or copies thereof if copies only were delivered to applicable Special Servicer) and upon giving
such notice, and returning such Mortgage File to the Certificate Administrator (if applicable) and Servicing File to the Servicer,
applicable Special Servicer’s obligation to service such Rehabilitated Mortgage Loan shall terminate and the obligations
of the Servicer to service and administer such Mortgage Loan shall recommence.

 

(b)           No
later than 60 days after a Servicing Transfer Event for a Whole Loan, the applicable Special Servicer shall deliver in electronic
format a report (the “Asset Status Report”) with respect to such Whole Loan and the related Mortgaged Property
to the Servicer, the Directing Certificateholder (but only so long as no Consultation Termination Event has occurred), the Certificate
Administrator, the 17g-5 Information Provider (which shall promptly post such report on the 17g-5 Provider’s Website in accordance
with Section 8.14) and the Companion Loan Holders. Such Asset Status Report shall set forth the following information (excluding
any and all Privileged Information) to the extent reasonably determinable based on the information that was delivered to the applicable
Special Servicer in connection with the transfer of servicing pursuant to the Servicing Transfer Event:

 

(i)            summary
of the status of such Specially Serviced Mortgage Loan and any negotiations with the related Borrower;

 

(ii)           a
discussion of the legal and environmental considerations reasonably known to the applicable Special Servicer, consistent with Accepted
Servicing Practices, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties
or other collateral for the related Whole Loan and whether outside legal counsel has been retained;

 

(iii)          the
most current rent roll and income or operating statement available for the related Mortgaged Property;

 

(iv)          the
applicable Special Servicer’s recommendations on how such Specially Serviced Mortgage Loan might be returned to performing
status and returned to the Servicer for regular servicing or otherwise realized upon;

 

(v)           a
copy of the last obtained Appraisal of the Mortgaged Property; and

 

(vi)          such
other information as the applicable Special Servicer deems relevant in light of Accepted Servicing Practices.

 

The applicable Special
Servicer shall (x) deliver to the Certificate Administrator a proposed notice to Certificateholders that will include a summary
of any Final Asset Status

 

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Report in an electronic format (which shall be a brief summary of the current status of the Mortgaged
Property and strategy (other than Privileged Information) with respect to the resolution and workout of the Whole Loan), and the
Certificate Administrator shall post such summary of the Final Asset Status Report (but not the Final Asset Status Report) on the
Certificate Administrator’s Website and shall deliver any Asset Status Reports to the 17g-5 Information Provider (who shall
post such reports to the website pursuant to Section 8.14) and (y) implement the applicable Final Asset Status Report in
the form delivered to the 17g-5 Information Provider pursuant to the first paragraph of this Section 3.26(b). The applicable
Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and, following the prompt delivery
of such modified Asset Status Report to the Servicer and 17g-5 Information Provider, and a summary of such report to the Certificate
Administrator, (i) the 17g-5 Information Provider shall post such modified Asset Status Report on the 17g-5 Information Provider’s
Website pursuant to Section 8.14 and (ii) the Certificate Administrator shall post such summary on the Certificate Administrator’s
Website. In no event, however, will the applicable Special Servicer be required to deliver a summary of any interim or draft of
an Asset Status Report.

 

Subject to the last paragraph
of Section 9.03(a), prior to the occurrence and continuance of a Control Event, if within ten (10) Business Days of receiving
an Asset Status Report, the Directing Certificateholder does not disapprove such Asset Status Report in writing, the applicable
Special Servicer shall implement the recommended action as outlined in such Asset Status Report. In addition, prior to the occurrence
and continuance of a Control Event, if the Directing Certificateholder disapproves such Asset Status Report within ten (10) Business
Days of receipt and the applicable Special Servicer has not made the determination described below, such Special Servicer shall
revise such Asset Status Report and deliver a new Asset Status Report as soon as practicable, but in no event later than thirty
(30) days after such disapproval, to the Directing Certificateholder, the Servicer, the Trustee, the Certificate Administrator
and the 17g-5 Information Provider (which shall promptly post such revised Asset Status Report on the 17g-5 Information Provider’s
Website in accordance with Section 8.13(b)). Prior to the occurrence and continuance of a Control Event, the applicable
Special Servicer shall revise such Asset Status Report as described above in this Section 3.26(b) until the Directing Certificateholder
shall fail to disapprove such revised Asset Status Report in writing within ten (10) Business Days of receiving such revised Asset
Status Report, until the Directing Certificateholder’s approval is no longer required or until the applicable Special Servicer
makes the determination described below. Notwithstanding the foregoing, the applicable Special Servicer (A) may, following the
occurrence of an extraordinary event with respect to any Mortgaged Property or a Whole Loan or, if a failure to take any such action
at such time would be inconsistent with Accepted Servicing Practices, take any action set forth in such Asset Status Report before
the expiration of a ten (10)-Business Day period and (B) shall implement the action recommended in the Asset Status Report, in
each case if it makes a determination in accordance with Accepted Servicing Practices that such affirmative disapproval is not
in the best interest of all the Certificateholders; provided, however, that if the Directing Certificateholder does
not approve or is not deemed to have approved an Asset Status Report within ninety (90) days from the first submission of an Asset
Status Report, then such Special Servicer and the Directing Certificateholder shall use reasonable efforts to negotiate a mutually
agreeable Asset Status Report during the next thirty (30) days, and if they are unable to reach an agreement within such 30-day
period, such Special Servicer shall take the action recommended in its most

 

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recently submitted Asset Status Report; provided,
further, that such Asset Status Report is not intended to replace or satisfy any other specific consent or approval right
which the Directing Certificateholder may have pursuant to Section 9.03.

 

The applicable Special
Servicer shall deliver to the Servicer, the Directing Certificateholder (after the occurrence and during the continuance of a Control
Event but so long as no Consultation Termination Event is continuing) and the 17g-5 Information Provider (which shall promptly
post the same to the 17g-5 Information Provider’s Website) a copy of each Final Asset Status Report, in each case with reasonable
promptness following the adoption thereof. The applicable Special Servicer shall provide a summary of such report to the Certificate
Administrator, and the Certificate Administrator shall post such summary on the Certificate Administrator’s Website. During
the continuance of a Consultation Termination Event, the Directing Certificateholder (other than in its capacity as a Certificateholder)
shall have no right to receive any Asset Status Report or otherwise consult with the applicable Special Servicer with respect to
any matter set forth therein.

 

After the occurrence
and during the continuance of a Control Event but so long as no Consultation Termination Event is continuing, the applicable Directing
Certificateholder shall be entitled to consult with the applicable Special Servicer (on a non-binding basis) and propose alternative
courses of action and provide other feedback in respect of any Asset Status Report. Following the occurrence of a Consultation
Termination Event with respect to a Mortgage Loan, the related Directing Certificateholder shall have no right to consult with
the applicable Special Servicer with respect to the Asset Status Reports. The applicable Special Servicer may choose to revise
the Asset Status Reports as it deems reasonably necessary in accordance with Accepted Servicing Practices to take into account
any input and/or recommendations of such Directing Certificateholder, but is under no obligation to follow any particular recommendation
of such Directing Certificateholder during the continuance of a Control Event
but prior to the occurrence of a Consultation Termination Event.

 

Notwithstanding anything
herein to the contrary: (i) the applicable Special Servicer shall have no right or obligation to consult with or to seek and/or
obtain consent, approval or direction from any Directing Certificateholder prior to or after acting or making any determination
(and provisions of this Agreement requiring such consultation, consent or approval shall be of no effect) during the period following
any resignation or removal of a Directing Certificateholder and before a replacement is selected and/or identified; and (ii) no
advice, direction or objection from or by the Directing Certificateholder, as contemplated by Section 9.03, or pursuant
to any other provision of this Agreement, as contemplated by this Agreement or the related Co-Lender Agreements, may (and the applicable
Special Servicer may ignore and act without regard to any such advice, direction or objection that such Special Servicer has determined,
in its reasonable, good faith judgment, would): (A) require or cause such Special Servicer to violate applicable law, the terms
of the Mortgage Loan Documents, the Co-Lender Agreements or this Agreement, including such Special Servicer’s obligation
to act in accordance with Accepted Servicing Practices, (B) result in an Adverse REMIC Event, (C) expose the Trust, the Depositor,
the Servicer, such Special Servicer, the Certificate Administrator, the Trustee or any of their respective Affiliates, members,
managers, officers, directors, employees or agents, to any claim, suit or liability or (D) materially expand the scope of the Servicer’s
or such Special Servicer’s responsibilities under this Agreement.

 

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The Servicer and the
applicable Special Servicer shall comply with applicable law, the Accepted Servicing Practices, this Agreement and the Mortgage
Loan Documents.

 

(c)           Upon
receiving notice of (A) the occurrence of the events described in clause (iii) or clause (ix) of the definition of
Servicing Transfer Event (without regard to the 60-day or 30-day period, respectively, set forth therein), or (B) the request by
a Borrower for the amendment or modification of a Mortgage Loan which is not a Specially Serviced Mortgage Loan for which the applicable
Special Servicer is responsible for such amendment or modification pursuant to Section 3.09 and Section 3.28, the
Servicer shall with reasonable promptness give notice thereof, and shall use its reasonable efforts to provide such Special Servicer
with all information relating to the Mortgage Loan and reasonably requested by such Special Servicer to enable it to negotiate
with the related Borrower and prepare for any such proceedings. The Servicer shall use its reasonable efforts to comply with the
preceding sentence within 5 Business Days of the occurrence of each such event.

 

(d)           Upon
determining that a Specially Serviced Mortgage Loan has become a Rehabilitated Mortgage Loan, the applicable Special Servicer shall
promptly give notice thereof to the Servicer, and upon giving such notice, such Mortgage Loan shall cease to be a Specially Serviced
Mortgage Loan, such Special Servicer’s obligation to service such Mortgage Loan shall terminate and the obligations of the
Servicer to service and administer such Mortgage Loan shall resume. In addition, if the related Borrower has been instructed, pursuant
to subsection (a) above, to make payments to the applicable Special Servicer, such Special Servicer shall instruct the related
Borrower to remit all payments in respect of such Mortgage Loan directly to the Servicer.

 

(e)           In
servicing any Specially Serviced Mortgage Loan, the applicable Special Servicer shall provide to the Certificate Administrator
originals of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage File
(to the extent such documents are in the possession of such Special Servicer) and copies of any additional related Mortgage Loan
information, including correspondence with the related Borrower, and such Special Servicer shall promptly provide copies of all
of the foregoing to the Servicer as well as copies of any analysis or internal review prepared by or for the benefit of such Special
Servicer.

 

(f)            Notwithstanding
the provisions of the preceding subsection (a), the Servicer shall maintain ongoing payment records with respect to each
of the Specially Serviced Mortgage Loans and shall provide the applicable Special Servicer with any information reasonably required
by such Special Servicer to perform its duties under this Agreement. The applicable Special Servicer shall provide the Servicer
with any information reasonably required by the Servicer to perform its duties under this Agreement.

 

(g)           While
any Mortgage Loan is a Specially Serviced Mortgage Loan, not later than 4:00 p.m. (New York Time) on each Determination Date, the
applicable Special Servicer shall deliver to the Servicer (i) the CREFC® Special Servicer Loan File with respect
to the Specially Serviced Mortgage Loan, (ii) to the extent not included in the CREFC® Special Servicer Loan File, a written
statement describing the amount of all payments on account of interest received on the Specially Serviced Mortgage Loan, the amount
of all payments on account of principal received on the Specially Serviced Mortgage Loan, the amount of Insurance

 

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Proceeds, Condemnation
Proceeds and Net Liquidation Proceeds received, the amount of any REO Income received with respect to any Mortgaged Property, and
the amount of net income or net loss, as determined from management of a trade or business on, the furnishing or rendering of a
non-customary service to the tenants of, or the receipt of any rental income that does not constitute Rents from Real Property
with respect to, any REO Property, in each case in accordance with Section 3.18 and (iii) such additional information relating
to the Specially Serviced Mortgage Loan as the Servicer or Certificate Administrator reasonably requests to enable it to perform
its duties under this Agreement.

 

Section 3.27     Limitations
on and Authorizations of the Servicer and Special Servicer with Respect to Certain Mortgage Loans. (a) Prior to taking any
action with respect to a Mortgage Loan secured by Mortgaged Properties located in a “one action” or “election
of remedies” state, the Servicer or the applicable Special Servicer, as applicable, shall consult with legal counsel, the
fees and expenses of which shall be an expense of the Trust Fund (allocable as provided in Section 3.06).

 

(b)           The
Servicer shall send written notice to each Borrower and the related Manager and clearing bank (countersigned by the Depositor)
to the effect that, if applicable, the Servicer and/or the Trustee have been appointed as the “designee” of the lender
under any related Lock Box Agreement.

 

(c)           [Reserved]

 

(d)           [Reserved]

 

(e)           [Reserved]

 

(f)            The
Servicer or the applicable Special Servicer shall waive any or all of the Yield Maintenance Default Premiums collected on the Mortgage
Loans only if it determines, in accordance with Accepted Servicing Practices, that such action would be in the best interests of
the Certificateholder, and is in compliance with the REMIC Provisions.

 

(g)           [Reserved]

 

(h)           With
respect to the Mortgage Loans, to the extent the related Mortgage Loan Documents permit transfers of more than 49% of the interests
in the related Borrower or Mortgaged Property, and such transfers are subject to Rating Agency Confirmation if required by the
lender, the Servicer or applicable Special Servicer, as applicable, shall obtain such Rating Agency Confirmation prior to consenting
to any such transfer.

 

(i)            To
the extent consistent with the related Mortgage Loan Documents, the Servicer or the applicable Special Servicer, as applicable,
shall, in accordance with Accepted Servicing Practices, require the related Borrower to pay all expenses associated with obtaining
any Rating Agency Confirmation required hereunder or under the related Mortgage Loan Documents.

 

If the related Borrower
does not pay such fee, such fee shall be paid as a Servicing Advance and shall be borne by the Trust Fund as provided in Section
3.06. The

 

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Servicer or the applicable Special Servicer, as applicable, shall, to the extent consistent with Accepted Servicing
Practices, use reasonable efforts to collect any such amounts from the related Borrower.

 

Section 3.28     Modification,
Waiver, Amendment and Consents. (a) The Servicer (with respect to non-Specially Serviced Mortgage Loan) or the applicable
Special Servicer (with respect to Specially Serviced Mortgage Loans) may, subject to (x) the consent of the Directing Certificateholder
(subject to limitations on such consent pursuant to Section 9.03(a) herein) prior to the occurrence and continuance of
a Control Event and (y) the consultation and review rights of the Directing Certificateholder (subject to limitations on such
rights pursuant to Section 9.03(a) herein) after the occurrence and during the continuance of a Control Event but prior
to the occurrence of a Consultation Termination Event, modify, waive or amend any term of any Mortgage Loan if such modification,
waiver or amendment (a) is consistent with Accepted Servicing Practices, (b) does not either (i) cause either the Lower-Tier REMIC
or the Upper-Tier REMIC to fail to qualify as a REMIC or (ii) constitute a significant modification of such Mortgage Loan under
Treasury Regulations Section 1.860G-2(b) (and the Servicer or such Special Servicer, as applicable, may obtain and be entitled
to rely upon an Opinion of Counsel in connection with such determination) and (c) would not adversely affect in any material respect
the interest of any Certificateholder not consenting thereto. Notwithstanding anything herein to the contrary, in no event may
the Servicer or such Special Servicer permit an extension of any Maturity Date beyond the date that is (i) three (3) years after
the final Maturity Date of the related Mortgage Loan or (ii) in the case of the Pearlridge Mortgage Loan, twenty (20) years prior
to the expiration of the Kamehameha Schools Ground Leases. In connection with (i) the release of a Mortgaged Property or any portion
of a Mortgaged Property from the lien of the related Mortgage Loan (including following a casualty) or (ii) the taking of a Mortgaged
Property or any portion of a Mortgaged Property by exercise of the power of eminent domain or condemnation, if the related Mortgage
Loan Documents require the Servicer or the applicable Special Servicer, as applicable, to calculate (or to approve the calculation
of the related Borrower of) the loan-to-value ratio of the remaining Mortgaged Property or Mortgaged Properties or the fair market
value of the real property constituting the remaining Mortgaged Property or Mortgaged Properties, for purposes of REMIC qualification
of the related Mortgage Loan, then such calculation shall exclude the value of personal property and going concern value, if any.
The Servicer shall provide to the applicable Special Servicer notice of all Borrower requests related to any Mortgage Loan modification
or assumption and, so long as no Consultation Termination Event is continuing, such Special Servicer shall forward such notice
to the Directing Certificateholder.

 

(b)          All
modifications, waivers or amendments of any Mortgage Loan shall be in writing and shall be effected in a manner consistent with
Accepted Servicing Practices and the REMIC Provisions. The Servicer or the applicable Special Servicer, as applicable, shall notify
the Trustee, the Certificate Administrator and the Depositor in writing, of any modification, waiver or amendment of any term of
any Mortgage Loan and the date thereof, and shall deliver to the Custodian an original recorded counterpart of the agreement relating
to such modification, waiver or amendment within ten (10) Business Days following the execution and recordation thereof. In the
event the Servicer or applicable Special Servicer, or a court of competent jurisdiction in connection with a workout or proposed
workout of any Mortgage Loan, adversely modifies the interest rate applicable to such Mortgage Loan, the aggregate economic effect
of the

 

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modification (if any) shall be applied to the Certificates, in reverse order of seniority. If any Mortgage Loan is modified,
the related Net Mortgage Rate shall not change for purposes of distributions on the Certificates.

 

(c)           [Reserved]

 

(d)           Subject
to Section 3.31 of this Agreement, prior to implementing any Major Decision, the Servicer or applicable Special Servicer
shall obtain a Rating Agency Confirmation from each Rating Agency.

 

(e)           Notwithstanding
the foregoing, the Servicer or the applicable Special Servicer, as applicable, may, in accordance with Accepted Servicing Practices
(without any Rating Agency Confirmation), grant a Borrower’s request for consent to subject the related Mortgaged Property
to an easement, right-of-way or similar agreement for utilities, access, parking, public improvements or another similar purpose
and may consent to subordination of the Mortgage Loan to such easement, right-of-way or similar agreement and may not condition
the granting of any of the above on receipt of Rating Agency Confirmation if such condition would not be consistent with or permitted
by the Mortgage Loan Documents.

 

Section 3.29     [RESERVED].

 

Section 3.30     [RESERVED].

 

Section 3.31     Rating
Agency Confirmation. (a) Notwithstanding the terms of any related Mortgage Loan Documents or other provisions of this Agreement,
if any action under any Mortgage Loan Documents or this Agreement requires Rating Agency Confirmation as a condition precedent
to such action, if the party (the “Requesting Party”) required to obtain such Rating Agency Confirmation from
each Rating Agency has made a request to any Rating Agency for such Rating Agency Confirmation and, within ten (10) Business Days
of the Rating Agency Confirmation request being posted to the 17g-5 Information Provider’s Website, such Rating Agency has
not replied to such request or has responded in a manner that indicates that such Rating Agency is neither reviewing such request
nor waiving the requirement for Rating Agency Confirmation, then such Requesting Party shall be required to confirm that the applicable
Rating Agency has received the Rating Agency Confirmation request, and, if it has, promptly request the related Rating Agency
Confirmation again. The circumstances described in the preceding sentence are referred to in this Agreement as a “RAC
No-Response Scenario”.

 

If there is no response
to such Rating Agency Confirmation request within five (5) Business Days of such second request in a RAC No-Response Scenario or
if such Rating Agency has responded in a manner that indicates such Rating Agency is neither reviewing such request nor waiving
the requirement for Rating Agency Confirmation, then (x) with respect to any condition in any Mortgage Loan Document requiring
such Rating Agency Confirmation or with respect to any other matter under this Agreement relating to the servicing of the Mortgage
Loans (other than as set forth in clause (y) below), the requirement to obtain a Rating Agency Confirmation shall be considered
satisfied with respect to such Rating Agency and the Servicer or the applicable Special Servicer, as the case may be, may then
take such action if the Servicer or the applicable Special Servicer, as applicable, determines that taking the action with respect
to

 

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which it requested the Rating Agency Confirmation would be consistent with Accepted Servicing Practices, and (y) with respect
to a replacement of the Servicer or applicable Special Servicer, such condition shall be considered satisfied (i) if (A) the servicer
or special servicer, as applicable, is acting as servicer or special servicer, as applicable, in a commercial mortgage loan securitization
that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination and (B) Morningstar has
not cited servicing concerns of the applicable replacement as the sole or material factor in a rating action or 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 CMBS transaction serviced by the applicable servicer prior to the time of determination, as evidenced by an
Officer’s Certificate of the replacement Servicer or such Special Servicer, as applicable, if Morningstar is the non-responding
Rating Agency and (ii) if the replacement servicer or special servicer is on S&P’s Select Servicer List as a U.S. Commercial
Mortgage Master Servicer or U.S. Commercial Mortgage Special Servicer, as applicable, if S&P is the non-responding Rating Agency.

 

Any Rating Agency Confirmation
requests made by the Certificate Administrator, the Servicer, the requesting Special Servicer or the Trustee, as applicable, pursuant
to this Agreement, shall be made in writing (and email shall be sufficient as a writing), which writing shall contain a cover page
indicating the nature of the Rating Agency Confirmation request, and shall contain all back-up material the Servicer, the applicable
Special Servicer, Certificate Administrator or Trustee, as applicable, reasonably deems necessary for the Rating Agency to process
such request. Such written Rating Agency Confirmation request shall be provided in electronic format to the 17g-5 Information Provider,
and the 17g-5 Information Provider shall post such request on the 17g-5 Information Provider’s Website within 2 Business
Days in accordance with Section 8.14.

 

Promptly following the
Servicer or applicable Special Servicer’s determination to take any action discussed in this Section 3.31 without
receiving Rating Agency Confirmation, the Servicer such Special Servicer shall provide written notice to the 17g-5 Information
Provider of the action taken for the particular item at such time, and the 17g-5 Information Provider shall post such notice on
the 17g-5 Information Provider’s Website in accordance with Section 8.14.

 

(b)           Notwithstanding
the terms of the related Mortgage Loan Documents, the other provisions of this Agreement or the related Co-Lender Agreement, with
respect to any Companion Loan as to which there exists Companion Loan Securities, if any action relating to the servicing and administration
of the Whole Loan or any REO Property (the “Relevant Action”) requires delivery of a Rating Agency Confirmation
as a condition precedent to such action pursuant to this Agreement, then, except as set forth below in this paragraph, such action
shall also require delivery of a Companion Loan Rating Agency Confirmation as a condition precedent to such action from each Companion
Loan Rating Agency. Each Companion Loan Rating Agency Confirmation shall be sought by the Servicer or the applicable Special Servicer,
as applicable, depending on whichever such party is seeking the corresponding Rating Agency Confirmation(s) in connection with
the Relevant Action. The requirement to obtain a Companion Loan Rating Agency Confirmation with respect to any Companion Loan Securities
will be subject to, will be permitted to be waived by the Servicer and the applicable Special Servicer on, and will be deemed not
to apply on, the same terms and conditions applicable to obtaining Rating Agency Confirmations, as set forth in this Agreement;
provided that the

 

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Servicer or such Special Servicer, as applicable, depending on which is seeking the subject Companion
Loan Rating Agency Confirmation, shall forward to one or more of its counterpart (i.e., the master servicer or special servicer,
as applicable), the 17g-5 Information Provider’s counterpart, or such other party or parties (as are agreed to by the Servicer
or such Special Servicer, as applicable, and the applicable parties for the related Other Securitization Trust), at the expense
of the Other Securitization Trust to the extent not borne by the related Borrower, and in such format as the sender and recipient
may reasonably agree, (i) the request for such Companion Loan Rating Agency Confirmation at least two (2) Business Days before
it is sent to the applicable Companion Loan Rating Agency, (ii) all materials forwarded to the 17g-5 Information Provider under
this Agreement in connection with seeking the Rating Agency Confirmation(s) for the applicable Relevant Action at approximately
the same time that such materials are forwarded to the 17g-5 Information Provider, and (iii) any other materials that the applicable
Companion Loan Rating Agency may reasonably request in connection with such Companion Loan Rating Agency Confirmation promptly
following such request.

 

Section 3.32     Companion
Loan Intercreditor Matters.

 

(a)           If,
pursuant to Section 3.19 of this Agreement, a Mortgage Loan is, in its entirety, purchased or repurchased from the Trust
Fund, the subsequent holder thereof shall be bound by the terms of the related Co-Lender Agreement and shall assume the rights
and obligations of the holder of the related Trust Notes under the related Co-Lender Agreement. All portions of the related Mortgage
File and (to the extent provided under the applicable Mortgage Loan Purchase Agreement) other documents pertaining to such Mortgage
Loan shall be endorsed or assigned to the extent necessary or appropriate to the purchaser of such Mortgage Loan in its capacity
as the holder of the related Trust Notes (as a result of such purchase, repurchase or substitution) and (except for the actual
Note) on behalf of the holders of the related Non-Trust Notes that represent the related Companion Loans. Thereafter, such Mortgage
File shall be held by the holder of the related Trust Notes or a custodian appointed thereby for the benefit thereof, on behalf
of itself and the related Companion Loan Holders as their interests appear under the applicable Co-Lender Agreement. If the related
servicing file is not already in the possession of such party, it shall be delivered to the master servicer or special servicer,
as the case may be, under any separate servicing agreement for the related Whole Loan.

 

(b)           In
connection with the repurchase of only one Mortgage Loan Seller’s portion of a Mortgage Loan (or less than all of the Mortgage
Loan Sellers’ portions of a Mortgage Loan, (i) the related Whole Loan will continue to be serviced by the Servicer and, if
applicable, the applicable Special Servicer, in accordance with the terms of this Agreement on behalf of the Mortgage Loan Seller
repurchasing its interest in the Mortgage Loan, the Certificateholders and the Companion Loan Holders as a collective whole, and
the Servicer or the applicable Special Servicer, as applicable, will be the sole representative of the Mortgage Lender in connection
with any enforcement, bankruptcy or other proceeding, (ii) the Trustee will remain the mortgagee of record with respect to the
related Mortgage, (iii) the Certificate Administrator Fee rate, Servicing Fee and/or Special Servicing Fee with respect to the
Mortgage Loan will continue to be calculated based on the entire outstanding principal balance of such Mortgage Loan, (iv) the
Certificate Administrator (as custodian) will retain all portions of the Mortgage File other than the related repurchased Note,
(v) the Mortgage Loan Seller repurchasing its interest in the Mortgage Loan will be entitled to remittances on the Distribution

 

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Date of its applicable pro rata share of amounts allocable to such Mortgage Loan, based upon its respective interest in
such Mortgage Loan that would otherwise be available for distribution on such Distribution Date to Certificateholders (other than
any amounts in respect of any Monthly Advance) with respect to that Mortgage Loan and such amounts will be wired in accordance
with the directions provided to the Certificate Administrator and the Servicer by the Mortgage Loan Seller repurchasing its interest
in the Mortgage Loan at least ten (10) Business Days prior to the related Distribution Date, (vi) the Mortgage Loan Seller repurchasing
its interest in the Mortgage Loan will be entitled to receive any and all reports and have access to any and all information that
a Certificateholder would otherwise have under the terms of this Agreement upon submission of an Investor Certification to the
Certificate Administrator, (vii) no amendment may be made to this Agreement or the related Mortgage Loan Purchase Agreement that
would materially and adversely affect the rights of the Mortgage Loan Seller repurchasing its interest in the Mortgage Loan in
respect of the repurchased Mortgage Loan Seller interest in the Mortgage Loan without the consent of such repurchasing Mortgage
Loan Seller, and (viii) if (in accordance with this Agreement) the applicable Special Servicer elects to sell the issuing entity’s
share of the Mortgage Loan following a default thereunder, it must sell the entire Whole Loan on behalf of the Mortgage Loan Seller
repurchasing its interest therein, the Certificateholders and the holders of the Companion Loans as a collective whole. Neither
the Servicer nor the Trustee will make any Monthly Advance with respect to any Mortgage Loan Seller’s interest in the Mortgage
Loan that has been repurchased as described above. All Servicer, Trustee, Certificate Administrator and applicable Special Servicer
compensation will continue to be paid on each percentage interest in the Mortgage Loan that has been partially repurchased as set
forth hereunder.

 

(c)           Notwithstanding
anything in this Agreement to the contrary, but only to the extent required under the related Co-Lender Agreement, the Servicer
or Special Servicer, as applicable, shall consult with the applicable Companion Loan Holders with respect to any matters with respect
to the servicing of such Companion Loans to the extent required under the related Co-Lender Agreement. In addition, notwithstanding
anything to the contrary, the Servicer or applicable Special Servicer, as applicable, shall deliver reports and notices to each
Companion Loan Holder to the extent required under the related Co-Lender Agreement.

 

(d)           For
so long as no Consultation Termination Event has occurred, the Servicer or the applicable Special Servicer, as applicable, shall
provide notice to the Directing Certificateholder of any material notices that the Servicer or such Special Servicer has received
under or related to any franchise agreement, management agreement, comfort letter, subordination, non-disturbance and attornment
agreement, recognition agreement or similar agreement.

 

(e)           With
respect to each Whole Loan, the Servicer shall prepare, or cause to be prepared, on an ongoing basis, a statement setting forth,
to the extent applicable to such Whole Loan:

 

(i)            (A)
the amount of the distribution from the Collection Account allocable to principal and (B) separately identifying the amount of
scheduled principal payments, balloon payments, principal prepayments made at the option of the related Borrower or other principal
prepayments (specifying the reason therefor), net liquidation proceeds and

 

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foreclosure proceeds included therein and information
on distributions made with respect to such Whole Loan;

 

(ii)           the
amount of the distribution from the Collection Account allocable to interest and the amount of Default Interest allocable to such
Whole Loan;

 

(iii)          the
amount of the distribution to each related Companion Loan Holder, separately identifying the non-default interest, principal and
other amounts included therein, and if the distribution to a related Companion Loan Holder is less than the full amount that would
be distributable to such Companion Loan Holder if there were sufficient amounts available therefor, the amount of the shortfall
and the allocation thereof between interest and principal and the amount of the shortfall, if any, under such Whole Loan;

 

(iv)          the
principal balance of each of such Whole Loan and the related Companion Loans after giving effect to the distribution of principal
as of the end of the related Collection Period; and

 

(v)           the
amount of the servicing compensation paid to the Servicer and the applicable Special Servicer with respect to the most recent Distribution
Date, showing separately the Servicing Fee, the Special Servicing Fee, the Workout Fee and the Liquidation Fee.

 

Not later than each Remittance
Date, the Servicer shall make the foregoing statement available to each Companion Loan Holder by electronic means.

 

(f)            At
any time after a Companion Loan has become part of an Other Securitization Trust and, provided that the applicable parties
hereto have received written notice (which may be by email) thereof including contact information for the master servicer and special
servicer with respect to such Other Securitization Trust, all notices, reports, information or other deliverables required to be
delivered to the related Companion Loan Holder pursuant to this Agreement or the applicable Co-Lender Agreement shall be delivered
to the master servicer and special servicer with respect to such Other Securitization Trust (who then may forward such items to
the party entitled to receive such items as and to the extent provided in the related Other Pooling and Servicing Agreement) and,
when so delivered to such master servicer and special servicer, the party hereto that is obligated under this Agreement or the
related Co-Lender Agreement to deliver such notices, reports, information or other deliverables shall be deemed to have satisfied
its delivery obligations with respect to such items hereunder or under the related Co-Lender Agreement.

 

ARTICLE
IV

DISTRIBUTIONS TO CERTIFICATEHOLDERS

 

Section 4.01     Distributions. (a)
On each Distribution Date, the Certificate Administrator shall be deemed to withdraw amounts deposited in the Lower-Tier Distribution
Account for such Distribution Date and be deemed to distribute such funds in respect of the

 

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Uncertificated Lower-Tier Interests
to the Upper-Tier REMIC pursuant to Sections 4.01(a)(ii) and 4.01(i) by depositing such amounts in the Upper-Tier
Distribution Account. The amounts specified in the preceding sentence shall be held in the Upper-Tier Distribution Account in
respect of the Regular Certificates until distributed to the Holders thereof.

 

(i)            [Reserved]

 

(ii)           With
respect to such Distribution Date, the timing and amounts of distributions of interest and principal and the reimbursement of Realized
Losses on each Uncertificated Lower-Tier Interest will be identical to such amounts, reimbursements and timing on the Related Certificates
(and in the case of the Class LA, Class LB and Class LC Uncertificated Interest, will include interest amounts in respect of the
Class X Certificates to the extent actually distributable thereon as provided in this Section 4.01, except that, solely
for this purpose, all calculations of interest with respect to the Class LA, Class LB and Class LC Uncertificated Interests shall
be made at their related Pass-Through Rates, with the portion thereof corresponding to the Pass-Through Rates of the Related Certificates
paid in the same priority as such Related Certificates, as applicable, and pro rata as among the Class LA, Class LB and
Class LC Uncertificated Interests (based on the interest accrued on each such Class of Uncertificated Lower-Tier Interest) at an
interest rate equal to the difference between the Net WAC Rate of the Mortgage Loans and the Pass-Through Rate of such Related
Certificates, as applicable. Any amounts remaining in the Lower-Tier Distribution Account on any Distribution Date after the distributions
described in this Section 4.01(a)(ii) and the distributions of any Yield Maintenance Default Premiums pursuant to Section
4.01(i) shall be distributed to the Holders of the Class R Certificates in respect of the Class LT-R Interest.

 

(b)           The
Certificate Administrator shall distribute to each Class of Pooled Certificates the amounts on deposit in the Distribution Account
in respect of the Pooled Available Funds in the amounts and in the order of priority set forth below:

 

(i)            First,
to the Class A and Class X Certificates, pro rata, based on their respective Interest Distribution Amounts, up to an amount
equal to the aggregate of the Interest Distribution Amounts of such Classes with respect to such Distribution Date;

 

(ii)           Second,
to the Class A Certificates, in reduction of the Certificate Balance thereof, in an amount up to the applicable Adjusted Certificate
Principal Distribution Amount for such Distribution Date, until the Certificate Balance thereof has been reduced to zero;

 

(iii)          Third,
to the Class A Certificates in an amount up to the aggregate of unreimbursed Realized Losses previously allocated to such Class,
plus interest thereon at the related Pass-Through Rate thereon in effect from time to time, compounded monthly from the date the
related Realized Loss was allocated to such Class;

 

(iv)          Fourth,
to the Class B Certificates, in an amount up to such Class’s Interest Distribution Amount with respect to such Distribution
Date;

 

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(v)           Fifth,
to the Class B Certificates, in reduction of the Certificate Balance thereof, in an amount up to the applicable Adjusted Certificate
Principal Distribution Amount for such Distribution Date less any portion of such Adjusted Certificate Principal Distribution Amount
distributed pursuant to all prior clauses, until the Certificate Balance thereof has been reduced to zero;

 

(vi)          Sixth,
to the Class B Certificates, in an amount up to the aggregate of unreimbursed Realized Losses previously allocated to such Class,
plus interest thereon at the related Pass-Through Rate thereon in effect from time to time, compounded monthly from the date the
related Realized Loss was allocated to such Class;

 

(vii)         Seventh,
to the Class C Certificates, in an amount up to such Class’s Interest Distribution Amount with respect to such Distribution
Date;

 

(viii)        Eighth,
to the Class C Certificates, in reduction of the Certificate Balance thereof, in an amount up to the applicable Adjusted Certificate
Principal Distribution Amount for such Distribution Date less any portion of such Adjusted Certificate Principal Distribution Amount
distributed pursuant to all prior clauses, until the Certificate Balance thereof has been reduced to zero;

 

(ix)           Ninth,
to the Class C Certificates, in an amount up to the aggregate of unreimbursed Realized Losses previously allocated to such Class,
plus interest thereon at the related Pass-Through Rate thereon in effect from time to time, compounded monthly from the date the
related Realized Loss was allocated to such Class;

 

(x)           Tenth,
to pay interest on any Interest Shortfalls allocated to any Class of Regular Certificates at the related Pass-Through Rate from
the date the Interest Shortfall was allocated to such Class to but not including the date such Interest Shortfall was repaid in
the following order: (A) the Class A and Class X Certificates, pro rata, based on the amount of such Interest Shortfalls,
(B) the Class B Certificates, and (C) the Class C Certificates; and

 

(xi)          Eleventh,
to the Class R Certificates (in respect of the Class UT-R Interest).

 

All references to pro
rata in the preceding clauses and sub-clauses with respect to interest and Interest Shortfalls shall mean pro rata based
on the amount distributable pursuant to such clauses and sub-clauses.

 

While the Certificate
Balance of any Class of Certificates has been reduced to zero, such Class will not be entitled to any further distributions in
respect of interest or principal other than reimbursements of Realized Losses (including
by application of Recovered Amounts as set forth in Section 1.04(c)), Interest Shortfalls and interest on such Interest
Shortfalls and Realized Losses.

 

(c)           The
Certificate Administrator shall distribute to each Class of Loan Specific Certificates the amounts on deposit in the Distribution
Account in respect of the applicable Loan Specific Available Funds for each Mortgage Loan distributed to the Classes of

 

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Loan Specific
Certificates related to such Mortgage Loan in the amounts and in the order of priority set forth below:

 

(i)            First,
to the senior-most Class of related Loan Specific Certificates, up to an amount equal to the applicable Interest Distribution Amount
of such Class with respect to such Distribution Date;

 

(ii)           Second,
to the senior-most Class of related Loan Specific Certificates, in reduction of the Certificate Balance of such Class, in an amount
up to the applicable Adjusted Certificate Principal Distribution Amount for such Distribution Date, until such Certificate Balance
has been reduced to zero;

 

(iii)          Third,
to the senior-most Class of related Loan Specific Certificates, in an amount up to the aggregate of unreimbursed Realized Losses
previously allocated to such Class, plus interest on such Realized Losses at the related Pass–Through Rate in effect from
time to time, compounded monthly from the date the related Realized Loss was allocated to such Class;

 

(iv)          Fourth,
to the next Class of related Loan Specific Certificates in numerical order, up to an amount equal to the applicable Interest Distribution
Amount of such Class with respect to such Distribution Date;

 

(v)           Fifth,
to the next Class of related Loan Specific Certificates in numerical order, in reduction of the Certificate Balance of such
Class, in an amount up to the applicable Adjusted Certificate Principal Distribution Amount for such Distribution Date less any
portion of such Adjusted Certificate Principal Distribution Amount distributed pursuant to all prior clauses, until such Certificate
Balance has been reduced to zero;

 

(vi)          Sixth,
to the next Class of related Loan Specific Certificates in numerical order, in an amount up to the aggregate of unreimbursed Realized
Losses previously allocated to such Class, plus interest on such Realized Losses at the related Pass–Through Rate in effect
from time to time, compounded monthly from the date the related Realized Loss was allocated to such Class;

 

(vii)         Seventh,
if applicable, to the next Class of related Loan Specific Certificates in numerical order, up to an amount equal to the applicable
Interest Distribution Amount of such Class with respect to such Distribution Date;

 

(viii)        Eighth,
if applicable, to the next Class of related Loan Specific Certificates in numerical order, in reduction of the Certificate Balance
of such Class, in an amount up to the applicable Adjusted Certificate Principal Distribution Amount for such Distribution Date
less any portion of such Adjusted Certificate Principal Distribution Amount distributed pursuant to all prior clauses, until such
Certificate Balance has been reduced to zero;

 

(ix)           Ninth,
if applicable, to the next Class of related Loan Specific Certificates in numerical order, in an amount up to the aggregate of
unreimbursed Realized Losses previously allocated to such Class, plus interest on such Realized Losses at the related

 

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Pass–Through
Rate in effect from time to time, compounded monthly from the date the related Realized Loss was allocated to such Class;

 

(x)           Tenth,
to the related Classes of Loan Specific Certificates in numerical order, in each case, to pay interest on any Interest Shortfalls
allocated to any Class of related Loan Specific Certificates at the related Pass-Through Rate from the date the Interest Shortfall
was allocated to such Class to but not including the date such Interest Shortfall was allocated to such Class; and

 

(xi)          Eleventh,
to the Class R Certificates (in respect of the Class UT-R Interest);

 

All references to pro
rata in the preceding clauses with respect to interest and Interest Shortfalls shall mean pro rata based on the amount
distributable pursuant to such clauses. All references to “numerical order” with respect to the Loan Specific Certificates
shall mean first to the Class PR-1 Certificates and then to the Class PR-2 Certificates or first to the Class SQ-1 Certificates,
then to the Class SQ-2 Certificates and then to the Class SQ-3 Certificates, as applicable.

 

While the Certificate
Balance of any Class of Certificates has been reduced to zero, such Class will not be entitled to any further distributions in
respect of interest or principal other than reimbursements of Realized Losses (including
by application of Recovered Amounts as set forth in Section 1.04(c)), Interest Shortfalls and interest on such Interest
Shortfalls and Realized Losses.

 

Amounts payable on any
Distribution Date in respect of the Classes of Loan Specific Certificates related to one Mortgage Loan will not be available to
make distributions on (or reimbursements in respect of) the Classes of Loan Specific Certificates related to the other Mortgage
Loan or on any of the Classes of Pooled Certificates.

 

(d)           All
amounts distributable to a Class of Certificates pursuant to this Section 4.01 on each Distribution Date shall be allocated
pro rata among the outstanding Certificates in each such Class based on their respective Percentage Interests. Such distributions
shall be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record
Date by check mailed by first Class mail to the address set forth therefor in the Certificate Register or, provided that
such Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business
Days prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder
at a bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each
Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Certificate
Administrator or its agent (which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders
of such final distribution.

 

(e)           Realized
Losses allocated to the Mortgage Loans shall be applied with respect to the Principal Balance Certificates dollar for dollar, without
a principal distribution, as a reduction of the aggregate Certificate Balance of the Principal Balance Certificates as follows:

 

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(i) with respect to Realized Losses that are not specific to a particular Mortgage Loan, such Realized Losses shall be allocated
first, pro rata between the Non-Pooled Trust Notes until the outstanding balances of such Non-Pooled Trust Notes
have been reduced to zero, and then to the Pooled Trust Notes, with Realized Losses so allocated to the Non-Pooled Trust
Notes for a particular Mortgage Loan being allocated in turn to the Certificate Balance of the related Classes of Loan Specific
Certificates in reverse numerical order, and Realized Losses so allocated to the Pooled Trust Notes being allocated to the Certificate
Balances of the Class C, Class B and Class A Certificates, in that order; and (ii) with respect to Realized Losses that are Mortgage
Loan specific, (“Loan Specific Realized Losses”) such Realized Losses shall be allocated first, to the
related Classes of Loan Specific Certificates, in reverse numerical order, in reduction of the Certificate Balances thereof, and
then to the Certificate Balances of the Class C, Class B and Class A Certificates, in that order. Allocations of Realized
Losses or Loan Specific Realized Losses to any Class of Certificates shall be deemed to result in a corresponding reduction of
the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest.

 

Shortfalls in principal
caused by Additional Trust Fund Expenses allocated to the Pooled Trust Notes shall be applied dollar for dollar, without a principal
distribution, as a reduction to the Certificate Balances of the Class C, Class B and Class A Certificates, in that order,
and if allocable to interest, (1) to the Class C Certificates, (2) to the Class B Certificates and then (3) to the Class
A Certificates and Class X Certificates, pro rata based on interest accrued. Such shortfalls shall be allocable first to
principal distributions, if any, on the applicable Class, and then to interest distributions, if any, on the applicable Class.

 

(f)          The
Certificate Administrator shall, as many days as is reasonably practicable prior to the date on which the final distribution with
respect to any Class of Certificates is expected to be made, forward to each Holder of such Class of Certificates, on such date
a notice to the effect that:

 

(A)         the
Certificate Administrator reasonably expects, based upon information previously provided to it, that the final distribution with
respect to such Class of Certificates will be made on such Distribution Date, but only upon presentation and surrender of such
Certificates at the office of the Certificate Administrator therein specified, and

 

(B)         if
such final distribution is made on such Distribution Date, no interest shall accrue on such Certificates from and after such Distribution
Date;

 

provided, however, that the
Class R Certificates shall remain outstanding until there is no other Class of Certificates outstanding.

 

Any funds not distributed
to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held in trust for the benefit of the appropriate non-tendering
Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section 4.01(i) shall not have
been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall
deliver a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation to

 

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receive
the final distribution with respect thereto. If within one year after the second notice not all of such Certificates shall have
been surrendered for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate steps to contact
the remaining non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such
funds in trust and of contacting such Certificateholders shall be paid out of such funds. If within two years after the second
notice any such Certificates shall not have been surrendered for cancellation, the Certificate Administrator shall distribute such
amounts as provided in Section 10.01(e). No interest shall accrue or be payable to any Certificateholder on any amount held
in trust hereunder or by the Certificate Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s)
for final payment thereof in accordance with this Section 4.01(i). Any such amounts transferred to the Certificate Administrator
may be invested in Permitted Investments and all income and gain realized from investment of such funds shall be for the benefit
of the Certificate Administrator. Notwithstanding anything herein to the contrary, for so long as Wells Fargo Bank, National Association
serves as Certificate Administrator, all funds held by the Certificate Administrator shall remain uninvested.

 

(g)           On
any Distribute Date, Yield Maintenance Default Premium Amounts collected during the related Due Period, if any, in respect of a
Mortgage Loan shall be allocated among the Trust Notes as provided in the Co-Lender Agreements.

 

(h)           On
any Distribution Date, the portion of any Yield Maintenance Default Premium amounts, if any, collected in respect of each Mortgage
Loan and allocated to the Pooled Trust Notes during the related Due Period shall be distributed by the Certificate Administrator
to the holders of each Class of Pooled Certificates (excluding the Class R Certificates) in the following manner: (A) the holders
of each Class of Pooled Principal Balance Certificates shall be entitled to receive on each Distribution Date an amount of such
Yield Maintenance Default Premiums, for the Mortgage Loan prepayments allocated to the Pooled Trust Notes, equal to the product
of (a) a fraction whose numerator is the amount of principal distributed to such Class on such Distribution Date and whose denominator
is the total amount of principal distributed to all of the Pooled Principal Balance Certificates representing principal payments
in respect of the Mortgage Loans allocated to the Pooled Trust Notes on such Distribution Date, (b) the Base Interest Fraction
for the related Principal Prepayment in respect of the Mortgage Loans allocated to the Pooled Trust Notes and such Class of Pooled
Certificates, and (c) the Yield Maintenance Default Premium amounts collected in respect of the Mortgage Loans and allocated to
the Pooled Trust Notes during the related Due Period, and (B) any Yield Maintenance Default Premium amounts collected in respect
of the Mortgage Loans and allocated to the Pooled Trust Notes during the related Due Period remaining after such distributions
shall be distributed to the Class X Certificates.

 

(i)            On
any Distribution Date, the portion of any Yield Maintenance Default Premium amounts, if any, collected in respect of a Mortgage
Loan allocated to the related Non-Pooled Trust Notes during the related Due Period shall be distributed by the Certificate Administrator
to the holders of each Class of Loan Specific Certificates related to such Mortgage Loan following manner: the holders of each
such Class of Loan Specific Certificates shall be entitled to receive on each Distribution Date an amount of Yield Maintenance
Default Premiums, for the Mortgage Loan prepayments allocated to the related Non-Pooled Trust Notes, equal to the product of (a)
a fraction whose numerator is the amount of principal distributed to such Class on

 

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such Distribution Date and whose denominator
is the total amount of principal distributed to all of the Loan Specific Certificates related to such Mortgage Loan representing
principal payments in respect of such Mortgage Loan allocated to such Non-Pooled Trust Notes on such Distribution Date and (b)
the Yield Maintenance Default Premium amounts collected in respect of such related Mortgage Loan and allocated to the Non-Pooled
Trust Notes during the related Due Period.

 

All Yield Maintenance
Default Premiums distributable pursuant to Section 4.01(h)-(i) shall first be deemed to have been distributed from the Lower-Tier
REMIC to the Upper-Tier REMIC in respect of the Class LA Uncertificated Interest (whether or not the Lower-Tier Principal Amount
of such Uncertificated Lower-Tier Interest has been reduced to zero).

 

(j)            Appraisal
Reduction shall be applied for the purpose of determining the amount of any Monthly Advance on any Mortgage Loan pursuant to Section
4.07(b), to the related Mortgage Loan, with any such amounts to be allocated to the Class C, Class B and Class A Certificates,
in that order (provided in each case that no Certificate Balance in respect of any such Class shall be notionally reduced below
zero). Once a Final Recovery Determination has been made with respect to any Mortgage Loan, any applicable Appraisal Reduction
applied to the Certificates shall be reversed in its entirety. In addition, when a Mortgage Loan is no longer a Required Appraisal
Mortgage Loan, any applicable Appraisal Reduction applied to the Certificates, shall be reversed in its entirety.

 

(k)           To
the extent an Excess Prepayment Interest Shortfall is allocated to any Mortgage Loan, it will be allocated pro rata (based
on what would otherwise be their respective Interest Accrual Amounts), to each Class of Regular Certificates, in each case as
a reduction of the amount otherwise distributable to such Class in respect of interest on such Distribution Date. Excess Prepayment
Interest Shortfalls allocated to the Class A, Class B and Class C Certificates pursuant to the preceding sentence will be allocated
in an equivalent amount to the Related Uncertificated Lower-Tier Interest, Excess Prepayment Interest Shortfalls allocated to the
Class X Certificates will be allocated in an equivalent amount to the Class LA, Class LB and Class LC Uncertificated Interest.
Such reductions shall not be recoverable on future Distribution Dates.

 

(l)            On
the first Distribution Date only, the Certificate Administrator shall withdraw $100 from the Upper-Tier Distribution Account and
distribute $100 to the Class X Certificates, which distribution will be deemed a payment of principal on the principal balance
of the Class X Certificates for federal income tax purposes.

 

Section 4.02     Statements
to Certificateholders. (a) On each Distribution Date, the Certificate Administrator shall make available pursuant to
Section 8.13 on the Certificate Administrator’s Website to any Privileged Person a statement (substantially in the
form set forth as Exhibit P hereto and based in part upon information supplied to the Certificate Administrator in the
related CREFC® Investor Reporting Package in accordance with CREFC® guidelines) a statement as to
such distribution (a “Distribution Date Statement”) setting forth the information set forth on Exhibit P,
and including among other things, for each Class, as applicable:

 

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(i)            the
amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Principal Balance Certificates
applied to reduce the respective Certificate Balances thereof;

 

(ii)           the
amount of distributions, if any, made on such Distribution Date to Holders of each Class of Certificates allocable to interest
accrued at the respective Pass-Through Rates or as payment of Interest Shortfalls; and the amount, if any, by which such distribution
was reduced by or as a result of Excess Prepayment Interest Shortfalls;

 

(iii)          the
number of outstanding Mortgage Loans and the aggregate Principal Balance of the Mortgage Loan Pool at the close of business on
the related Determination Date;

 

(iv)          the
number and aggregate unpaid Principal Balance of Mortgage Loans (A) delinquent 30-59 days, (B) delinquent 60-89 days, (C) delinquent
90 days or more, (D) that are Specially Serviced Mortgage Loans but not delinquent, or (E) as to which foreclosure proceedings
have been commenced;

 

(v)           with
respect to any Mortgage Loan to which the related Mortgaged Property became an REO Property during the related Due Period, the
Loan Number of such Mortgage Loan and the Principal Balance of such Mortgage Loan as of the date such Mortgaged Property became
an REO Property;

 

(vi)          as
to any Mortgage Loan repurchased by the Mortgage Loan Seller or otherwise liquidated or disposed of during the related Due Period,
(A) the Loan Number of the Mortgage Loan and (B) the amount of proceeds of any repurchase of a Mortgage Loan, Liquidation Proceeds
and/or other amounts, if any, received thereon during the related Due Period and the portion of Liquidation Proceeds included in
Pooled Available Funds or Loan Specific Available Funds for such Distribution Date;

 

(vii)         with
respect to any REO Property included in the Trust Fund as of the close of business on the related Determination Date, the Loan
Number of the related Mortgage Loan, the Principal Balance of such REO Mortgage Loan and the amount of Net REO Income and other
amounts, if any, received on such REO Property during the related Due Period and the portion of Net REO Income and other proceeds
received on such REO Property during the related Due Period included in Pooled Available Funds or Loan Specific Available Funds
for such Distribution Date;

 

(viii)        with
respect to any REO Property sold or otherwise disposed of during the related Due Period, the Loan Number of the related Mortgage
Loan and the amount of sale proceeds and other amounts, if any, received in respect of such REO Property during the related Due
Period and the portion of sale proceeds included in Pooled Available Funds or Loan Specific Available Funds for such Distribution
Date;

 

(ix)           the
aggregate Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates (other than the Class R Certificates),
before and after giving

 

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effect to the distributions made on such Distribution Date, identifying any reduction in the aggregate
Certificate Balance of each such Class due to Realized Losses;

 

(x)           the
aggregate amount of Principal Prepayments made during the related Due Period;

 

(xi)          the
Pass-Through Rate applicable to each applicable Class of Certificates for such Distribution Date;

 

(xii)         in
the case of any Class of Certificates, the portion of any Yield Maintenance Default Premiums distributed to such Class on such
Distribution Date;

 

(xiii)       the
aggregate amount of Servicing Compensation and Special Servicing Compensation (including interest thereon) retained by or paid
to the Servicer and the Special Servicers during the related Due Period;

 

(xiv)        the
aggregate amount of Administrative Advances, Servicing Advances and Monthly Advances outstanding which have been made by the Servicer,
the Special Servicers and the Trustee;

 

(xv)         the
amount of any Appraisal Reductions effected during the related Due Period and the total Appraisal Reductions as of such Distribution
Date on a loan by loan basis;

 

(xvi)        the
amount of each distribution on the Class X Certificates and whether such amount constitutes interest, prepayment premiums or other
funds;

 

(xvii)       each
current Controlling Class; and

 

(xviii)      the
CREFC® Intellectual Property Royalty License Fees paid to CREFC®.

 

Within a reasonable period
of time after the end of each calendar year, the Certificate Administrator shall send to each Person who at any time during the
calendar year was a Holder of a Certificate a statement containing the information set forth in subclauses (i), (ii)
and (xii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder
and such other information as may be required to enable such Certificateholders to prepare their federal income tax returns. Such
information shall include the amount of original issue discount accrued on each Class of Certificates held by persons other than
Holders exempted from the reporting requirements and information regarding the expenses of the Trust Fund. Such obligation of the
Certificate Administrator shall be deemed to have been satisfied to the extent that it has provided substantially comparable information
pursuant to any requirements of the Code as from time to time in force.

 

(b)           On
each Distribution Date, the Certificate Administrator shall make available pursuant to Section 8.13 to each Privileged Person
via the Certificate Administrator’s Website (i) the related Distribution Date Statement, (ii) the CREFC® Investor
Reporting Package and (iii) as a convenience to such parties (and not in furtherance of the distribution thereof under the securities
laws), the Offering Circular and this Agreement. In addition, if the Depositor so

 

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directs the Certificate Administrator, and on
terms acceptable to the Certificate Administrator, the Certificate Administrator shall make certain other information and reports
related to the Mortgage Loans available through the Certificate Administrator’s internet website. The information that pertains
to Specially Serviced Mortgage Loans and REO Properties reflected in such reports shall be based in part upon the reports delivered
by the applicable Special Servicer to the Servicer as provided herein. Absent manifest error, none of the Servicer, the applicable
Special Servicer, the Trustee or the Certificate Administrator shall be responsible for the accuracy or completeness of any information
supplied to it by a Borrower or third party that is included in any reports, statements, materials or information prepared or provided
by the Servicer, the applicable Special Servicer or the Certificate Administrator, as applicable. The Certificate Administrator
shall not be responsible for the accuracy or completeness of any information supplied to it by the Servicer or the applicable Special
Servicer that is included in any reports, statements, materials or information prepared or provided by the Servicer or such Special
Servicer, as applicable. The Certificate Administrator shall be entitled to conclusively rely upon the Servicer’s reports
and the applicable Special Servicer’s reports without any duty or obligation to recompute, verify or re-evaluate any of the
amounts or other information stated therein. The Servicer shall not be responsible for the accuracy or completeness of any information
supplied to it by the applicable Special Servicer that is included in any reports, statements, materials or information prepared
or provided by such Special Servicer. The Servicer shall be entitled to conclusively rely upon the applicable Special Servicer’s
reports without any duty or obligation to recompute, verify or re-evaluate any of the amounts or other information stated therein.

 

If, in connection with
any Distribution Date, the Certificate Administrator has reported the amount of an anticipated distribution to DTC based on a report
received from the Servicer, and the final report from the Servicer changes the initial amounts forwarded by the Servicer to the
Certificate Administrator, the Certificate Administrator shall use commercially reasonable efforts to notify DTC to make a revised
distributions on a timely basis on such Distribution Date. The Certificate Administrator shall not be liable or held responsible
for any resulting delay (or claim by DTC resulting therefrom) in the making of such distribution to the Certificateholders and
shall be indemnified and entitled to reimbursement by the Trust Fund for any loss, cost or expenses resulting therefrom.

 

(c)           The
Certificate Administrator shall make available at its offices, during normal business hours, upon not less than two Business Days
prior notice, for review by any Privileged Person and any other Person to whom the Depositor believes such disclosure is appropriate,
originals or copies of documents relating to the Mortgage Loans and any related REO Properties, to the extent in its possession,
including, without limitation, the following items (except to the extent prohibited by applicable law or by the terms of any of
the Mortgage Loan Documents and provided that any such person shall be required by the Certificate Administrator to provide
the Certificate Administrator with an Investor Certification): (i) this Agreement and any amendments thereto; (ii) all Distribution
Date Statements prepared by the Certificate Administrator since the Closing Date; (iii) all Officer’s Certificates delivered
by the Servicer or the applicable Special Servicer to the Certificate Administrator since the Closing Date; (iv) all accountants’
reports delivered by the Servicer or applicable Special Servicer to the Certificate Administrator since the Closing Date; (v) the
most recent property inspection report prepared by or on behalf of the Servicer or the applicable Special Servicer in respect of
each Mortgaged

 

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Property; (vi) the most recent annual (or more frequent, if available) operating statements, rent rolls (to the
extent such rent rolls have been made available by the related Borrower) and/or lease summaries, if any, collected by or on behalf
of the Servicer or the applicable Special Servicer and delivered to the Certificate Administrator; (vii) any and all modifications,
waivers and amendments of the terms of a Mortgage Loan entered into by the Servicer and/or the applicable Special Servicer and
delivered to the Certificate Administrator; (viii) any and all Officer’s Certificates and other evidence delivered to or
by the Certificate Administrator to support the Servicer’s, the applicable Special Servicer’s or the Trustee’s,
as the case may be, determination that any Advance, if made, would be a Nonrecoverable Advance; (ix) any other materials relating
in any manner to the Mortgage Loans, the Mortgaged Properties (including REO Properties) or the Certificates and not otherwise
required to be provided hereunder that are in the possession of the Certificate Administrator and (x) any Rule 144A Information
pursuant to Section 5.01(c). Copies of any and all of the foregoing items will be available from the Certificate Administrator
upon request. The Certificate Administrator may require payment by the requesting party (other than a Rating Agency) of a sum sufficient
to cover the reasonable costs and expenses of providing such copies. The Certificate Administrator’s obligation under this
Section 4.02(c) to make available any document is subject to the Certificate Administrator’s receipt of such document.

 

(d)           Reserved.

 

(e)           The
Certificate Administrator shall be obligated to deliver or make available the statements, reports and information contemplated
by Sections 4.02(a) through 4.02(c) only to the extent it receives the necessary underlying information from the
Servicer or the applicable Special Servicer and shall not be liable for any failure to deliver any thereof on the prescribed due
dates, to the extent caused by failure to receive timely such underlying information and, if the Servicer is not the Special Servicer,
the Servicer shall not be liable for any failure of such Special Servicer to provide such underlying information. Nothing herein
shall obligate the Certificate Administrator, the Servicer or the applicable Special Servicer to violate any applicable law prohibiting
disclosure of information with respect to any Borrower and the failure of the Certificate Administrator, the Servicer or the applicable
Special Servicer to disseminate information for such reason shall not be a breach hereof. The Servicer and the applicable Special
Servicer shall not be required to confirm, represent or warrant the accuracy or completeness of any other Person’s information
or report included in any communication from the Servicer or the applicable Special Servicer under this Section 4.02.

 

Section 4.03     Compliance
with Withholding Requirements. Notwithstanding any other provision of this Agreement, the Certificate Administrator shall
comply with all federal withholding requirements with respect to payments to Certificateholders of interest or original issue
discount that the Certificate Administrator reasonably believes are applicable under the Code. The consent of Certificateholders
or payees shall not be required for any such withholding. The Certificate Administrator agrees that it will not withhold with
respect to payments of interest or original issue discount in the case of a Certificateholder or payee that is a Non-U.S. Person
that has furnished or caused to be furnished (i) an effective Form W-8IMY (with applicable attachments), Form W-8BEN, Form W-8BEN-E
or Form W-9 or an acceptable substitute form or a successor form and who is not a “10 percent shareholder” within
the meaning of Section 871(h)(3)(B) of the Code or a “controlled foreign corporation” described in

 

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Section 881(c)(3)(C)
of the Code with respect to the Trust Fund, the Depositor or a Borrower, or (ii) an effective Form W-8ECI or an acceptable substitute
form or a successor form. If the Certificate Administrator or its agent withholds any amount from interest or original issue discount
payments or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements, the Certificate Administrator
shall indicate the amount withheld to such Person. Any amount so withheld shall be treated as having been distributed to such
Certificateholder or payee for all purposes of this Agreement.

 

Section 4.04     REMIC
Compliance. (a) The parties intend that each Trust REMIC shall constitute, and that the affairs of each Trust REMIC shall
be conducted so as to qualify it as, a “real estate mortgage investment conduit” as defined in, and in accordance
with, the REMIC Provisions, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of
such intention, the Certificate Administrator shall, to the extent permitted by applicable law, act as agent, and is hereby appointed
to act as agent, of each Trust REMIC and shall on behalf of each Trust REMIC: (i) prepare, timely deliver to the Trustee to sign
(and the Trustee shall timely sign) and file, or cause to be prepared and filed, all required Tax Returns for each such REMIC,
using the accrual method of accounting and a calendar year as the taxable year for each such REMIC when and as required by the
REMIC Provisions and other applicable federal, state or local income tax laws; (ii) make an election, on behalf of such REMIC,
to be treated as a REMIC on IRS Form 1066 for its first taxable year, in accordance with the REMIC Provisions; (iii) prepare and
forward, or cause to be prepared and forwarded, to the Certificateholders and the IRS and applicable state and local tax authorities
all information reports as and when required to be provided to them in accordance with the REMIC Provisions of the Code and Section
4.05; (iv) if the filing or distribution of any documents of an administrative nature not addressed in clauses (i)
through (iii) of this Section 4.04(a) is then required by the REMIC Provisions to maintain the status of each such
REMIC as a REMIC or is otherwise required by the Code, prepare, sign and file or distribute, or cause to be prepared and signed
and filed or distributed, such documents with or to such Persons when and as required by the REMIC Provisions or the Code or comparable
provisions of state and local law; (v) within thirty days of the Closing Date, apply for a tax payer identification number for
each such REMIC on Form SS-4, and furnish or cause to be furnished to the IRS, on Form 8811 or as otherwise may be required by
the Code, the name, title and address of the Person that the Holders of the Certificates may contact for tax information relating
thereto (and the Certificate Administrator shall act as the representative of the related REMIC for this purpose), together with
such additional information as may be required by such Form, and shall update such information at the time or times and in the
manner required by the Code (and the Depositor agrees within 10 Business Days of the Closing Date to provide any information reasonably
requested by the Servicer, the applicable Special Servicer, the Trustee or the Certificate Administrator and necessary to make
such filing); and (vi) maintain such records relating to each of such REMIC as may be necessary to prepare the foregoing returns,
schedules, statements or information, such records, for federal income tax purposes, to be maintained on a calendar year and on
an accrual basis. The Holder of the largest Percentage Interest in the Class R Certificates shall be the tax matters person of
the Lower-Tier REMIC and the Upper-Tier REMIC, pursuant to Treasury Regulations Section 1.860F-4(d). If more than one Holder holds
an equal Percentage Interest in the Class R Certificates larger than that held by any other Holder, the first such Holder to have
acquired such Class R Certificates shall be such tax matters person with respect to the related Trust REMIC. The Certificate Administrator
shall act as attorney in fact and agent for the tax

 

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matters person of each Trust REMIC. Each Holder of a Percentage Interest in
the Class R Certificates, by acceptance hereof, is deemed to have consented to the Certificate Administrator’s appointment
in such capacity and agrees to execute any documents required to give effect thereto, and any fees and expenses incurred by the
Certificate Administrator in connection with any audit or administrative or judicial proceeding as to the Trust REMICs shall be
paid by the Trust Fund. The Certificate Administrator shall not intentionally take any action or intentionally omit to take any
action if, in taking or omitting to take such action, the Certificate Administrator knows that such action or omission (as the
case may be) would cause the termination of the REMIC status of either Trust REMIC or the imposition of tax on either Trust REMIC
(other than a tax on income expressly permitted or contemplated to be received by the terms of this Agreement). Notwithstanding
any provision of this paragraph to the contrary, the Certificate Administrator shall not be required to take any action that the
Certificate Administrator in good faith believes to be inconsistent with any other provision of this Agreement, nor shall the
Certificate Administrator be deemed in violation of this paragraph if it takes any action expressly required or authorized by
any other provision of this Agreement, and the Certificate Administrator shall have no responsibility or liability with respect
to any act or omission of the Depositor, the Servicer or the applicable Special Servicer that prevents the Certificate Administrator
from complying with any of clauses (i) through (vi) of the sixth preceding sentence or that results in any action
contemplated by clauses (i) or (ii) of the next succeeding sentence. In this regard, the Certificate Administrator
shall (i) exercise reasonable care not to allow the occurrence of any “prohibited transactions” within the meaning
of Section 860F(a) of the Code, unless the party seeking such action shall have delivered to the Certificate Administrator an
Opinion of Counsel (at such party’s expense) that such occurrence would not (A) result in a taxable gain, (B) otherwise
subject either Trust REMIC to tax (other than a tax at the highest marginal corporate tax rate on net income from foreclosure
property), or (C) cause either Trust REMIC to fail to qualify as a REMIC; and (ii) exercise reasonable care not to allow either
Trust REMIC to receive income from the performance of services or from assets not permitted under the REMIC Provisions to be held
by a REMIC (provided, however, that the receipt of any income expressly permitted or contemplated by the terms of
this Agreement shall not be deemed to violate this clause). None of the Servicer, the applicable Special Servicer and the Depositor
shall be responsible or liable (except in connection with any act or omission referred to in the two preceding sentences and then
only to the extent provided for in Section 4.05) for any failure by the Certificate Administrator to comply with the provisions
of this Section 4.04. The Depositor, the Trustee, the Servicer and the Special Servicers shall cooperate in a timely manner
with the Certificate Administrator in supplying any information within the Depositor’s, the Trustee’s, the Servicer’s
or the applicable Special Servicer’s control (other than any confidential information) that is reasonably necessary to enable
the Certificate Administrator to perform its duties under this Section 4.04.

 

(b)          The
following assumptions are to be used for purposes of determining the anticipated payments of principal and interest for calculating
the original yield to maturity and original issue discount with respect to the Regular Certificates: (i) each Mortgage Loan will
pay principal and interest in accordance with its terms and scheduled payments will be timely received on their Payment Dates;
provided that all the Mortgage Loans will pay in full on their initial Maturity Dates; provided, further,
that no Mortgage Loan is repurchased by the Mortgage Loan Seller pursuant to Article II.

 

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Section 4.05     Imposition
of Tax on the Trust REMICs. If any tax, including interest, penalties or assessments, additional amounts or additions
to tax, is imposed on either Trust REMIC, such tax shall be charged against amounts otherwise distributable to the Holders of
the Certificates (in each case only as provided in Section 3.06); provided that any taxes imposed on any net income
from foreclosure property pursuant to Section 860G(d) of the Code or any similar tax imposed by a state or local jurisdiction
shall instead be treated as an expense of the related REO Property in determining Net REO Income with respect to the REO Property
(and until such taxes are paid, the applicable Special Servicer from time to time shall withdraw from the REO Account and transfer
to the Certificate Administrator amounts reasonably determined by the Certificate Administrator to be necessary to pay such taxes,
and the Certificate Administrator shall promptly pay therefrom any such taxes owed); provided that any such tax imposed
on net income from foreclosure property that exceeds the amount in any such reserve shall be retained from amounts in the Collection
Account as provided in Section 3.06(a) and the next sentence, in the case of the Trust REMICs. Except as provided in the
preceding sentence, the Certificate Administrator is hereby authorized to and shall retain or cause to be retained from funds
allocated to the related Mortgage Loans sufficient funds to pay or provide for the payment of, and to actually pay, such tax as
is legally owed by either Trust REMIC (but such authorization shall not prevent the Certificate Administrator from contesting,
at the expense of the Trust Fund, any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by
law, pending the outcome of such proceedings). The Certificate Administrator is hereby authorized to and shall segregate or cause
to be segregated, into a separate non-interest bearing account, (i) the net income from any “prohibited transaction”
under Section 860F(a) of the Code of either Trust REMIC or (ii) the amount of any contribution to either Trust REMIC after the
Startup Day that is subject to tax under Section 860G(d) of the Code and use such income or amount, to the extent necessary, to
pay such tax. To the extent that any such tax is paid to the IRS, the Certificate Administrator shall retain an equal amount from
future amounts otherwise distributable to the Holders of the Class R Certificates in respect of the Class UT-R and Class LT-R
Interests, and shall distribute such retained amounts in the case of the Trust REMICs to reimburse any shortfalls to the Holders
of Regular Certificates until they are fully reimbursed, and then to the Holders of the Class R Certificates in respect of the
Class UT-R and Class LT-R Interests. None of the Servicer, the applicable Special Servicer, the Trustee or the Certificate Administrator
shall be responsible for any taxes imposed on either Trust REMIC except to the extent such tax is attributable to a breach of
a representation or warranty of the Servicer, such Special Servicer, the Trustee or the Certificate Administrator) or an act or
omission of the Servicer, such Special Servicer, the Trustee or the Certificate Administrator, as applicable, in contravention
of this Agreement, provided that such breach, act or omission could result in liability under Section 6.03, in the
case of the Servicer or applicable Special Servicer or Section 4.04 or 8.01, in the case of the Certificate Administrator.
Notwithstanding anything in this Agreement to the contrary, in each such case, the Servicer and a Special Servicer shall not be
responsible for Trustee’s and Certificate Administrator’s breaches, acts or omissions, and the Trustee and the Certificate
Administrator shall not be responsible for the breaches, acts or omissions of the Servicer or a Special Servicer.

 

Section 4.06     Investor
Q&A Forum and Investor Registry. (a) The Certificate Administrator shall make available, only to Privileged Persons,
the Investor Q&A Forum. The “Investor Q&A Forum” shall be a service available on the Certificate Administrator’s
Website, where (i) Certificateholders or Beneficial Owners of Certificates may submit questions to (A) the

 

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Certificate Administrator
relating to the Distribution Date Statement, or (B) the Servicer or the applicable Special Servicer, as applicable, relating to
the reports being made available pursuant to Section 8.14 and regarding the Mortgage Loans or the Mortgaged Properties
(each an “Inquiry” and collectively, “Inquiries”), and (ii) Privileged Persons may view
Inquiries that have been previously submitted and answered, together with the answers thereto. Upon receipt of an Inquiry for
the Servicer or the applicable Special Servicer, as applicable, the Certificate Administrator shall forward the Inquiry, via electronic
delivery, to the appropriate person, in each case within a commercially reasonable period of time following receipt thereof. Following
receipt of an Inquiry, the Certificate Administrator, the Servicer or the applicable Special Servicer, as applicable, unless such
party determines not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Servicer or such
Special Servicer, as applicable, shall be delivered to the Certificate Administrator by electronic delivery. The Certificate Administrator
shall post (within a commercially reasonable period of time following preparation or receipt of such answer, as the case may be)
such Inquiry and the related answer to the Certificate Administrator’s Website. If the Certificate Administrator, the Servicer
or the applicable Special Servicer determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of
topics described above, (ii) answering any Inquiry would not be in the best interests of the Trust Fund and/or the Certificateholders,
(iii) answering any Inquiry would be in violation of applicable law, the applicable Mortgage Loan Documents or this Agreement
(iv) answering any Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the
Certificate Administrator, the Servicer or such Special Servicer, as applicable, (v) answering any Inquiry would, or is reasonably
expected to, result in a waiver of attorney client privilege or the disclosure of attorney work product, (vi) answering any Inquiry
would result in the disclosure of communications between the Directing Certificateholder and such Special Servicer, (vii) answering
any Inquiry would require the disclosure of Privileged Information or (viii) answering any Inquiry is otherwise, for any reason,
not advisable to answer, it shall not be required to answer such Inquiry and, in the case of the Servicer or such Special Servicer,
shall promptly notify the Certificate Administrator of such decision. The Certificate Administrator shall notify the Person who
submitted such Inquiry in the event that the Inquiry will not be answered. Any notice by the Certificate Administrator to the
Person who submitted an Inquiry that will not be answered shall include the following statement: “Because the Pooling and
Servicing Agreement provides that the Certificate Administrator, the Servicer and the Special Servicers shall not answer an Inquiry
if it determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of the topics described in the Pooling
and Servicing Agreement, (ii) answering any Inquiry would not be in the best interests of the Trust and/or the Certificateholders,
(iii) answering any Inquiry would be in violation of applicable law or the applicable Mortgage Loan Documents, (iv) answering
any Inquiry would materially increase the duties of, or result in significant additional costs or expenses to the Certificate
Administrator, the Servicer or such Special Servicer, as applicable, (v) answering any Inquiry would, or is reasonably expected
to, result in a waiver of attorney client privilege or the disclosure of attorney work product, (vi) answering any Inquiry would
result in the disclosure of communications between the Directing Certificateholder and such Special Servicer, (vii) answering
any Inquiry would require the disclosure of Privileged Information or (viii) answering any Inquiry is otherwise, for any reason,
not advisable to answer, no inference should or may be drawn from the fact that the Certificate Administrator, the Servicer or
such Special Servicer has declined to answer the Inquiry.” Answers posted on the Investor Q&A Forum will be attributable
only to the

 

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respondent, and shall not be deemed to be answers from any of the Depositor, the Initial Purchasers or any of their
respective Affiliates. None of the Initial Purchasers, Depositor, the Servicer, the applicable Special Servicer or the Certificate
Administrator or any of their respective Affiliates will certify to any of the information posted in the Investor Q&A Forum
and no such party shall have any responsibility or liability for the content of any such information. The Certificate Administrator
shall not be required to post to the Certificate Administrator’s Website any Inquiry or answer thereto that the Certificate
Administrator determines, in its sole discretion, is administrative or ministerial in nature. No party shall post or otherwise
disclose direct communications with the Directing Certificateholder as part of its response to any Inquiries; provided
that the Certificate Administrator shall have no obligation to review any inquiry or answer received by it for posting to the
Investor Q&A Forum to determine if such inquiry or answer contains any such direct communication with the Directing Certificateholder,
or otherwise to consult with the party from whom such Inquiry or answer is received to confirm the same, and the Certificate Administrator
shall have no liability in connection with its posting to the Investor Q&A Forum of any Inquiry or answer containing such
direct communication. The Investor Q&A Forum will not reflect questions, answers and other communications that are not submitted
via the Certificate Administrator’s Website.

 

(b)           The
Certificate Administrator shall make available to any Certificateholder and any Beneficial Owner, the Investor Registry. The “Investor
Registry” shall be a voluntary service available on the Certificate Administrator’s Website, where Certificateholders
and Beneficial Owners can register and thereafter obtain information with respect to any other Certificateholder or Beneficial
Owner that has so registered. Any person registering to use the Investor Registry will be required to certify that (a) it is a
Certificateholder or a Beneficial Owner and (b) it grants authorization to the Certificate Administrator to make its name and contact
information available on the Investor Registry for at least 45 days from the date of such certification to persons entitled to
access to the Investor Registry. Such Person shall then be asked to enter certain mandatory fields such as the individual’s
name, the company name and email address, as well as certain optional fields such as address, phone, and Class(es) of Certificates
owned. If any Certificateholder or Beneficial Owner notifies the Certificate Administrator that it wishes to be removed from the
Investor Registry (which notice may not be within 45 days of its registration), the Certificate Administrator shall promptly remove
it from the Investor Registry. The Certificate Administrator will not be responsible for verifying or validating any information
submitted on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate
Administrator may require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

Section 4.07     Remittances;
Monthly Advances. (a) “Monthly Advance” shall mean for any Mortgage Loan with respect to any Due Period
(i) the delinquent Scheduled Monthly Payments on the Mortgage Loans and (ii) in the case of a Mortgage Loan delinquent in respect
of its Balloon Payment and any Mortgage Loan as to which the related Mortgaged Property has become an REO Property, an amount
equal to the excess, if any, of the Assumed Scheduled Monthly Payment for the related Due Period over any amounts collected with
respect to such Mortgage Loan or REO Property during the Due Period and applied to amounts due as principal and/or interest on
the related Mortgage Loan. Subject to a determination of nonrecoverability, a Monthly Advance shall be required under this Section
4.07 if the amount set

 

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forth in the preceding sentence was not received on the applicable Mortgage Loan as of the close of
business on the Determination Date on or prior to the Servicer Remittance Date.

 

(b)           Notwithstanding
the foregoing, in the case of any Required Appraisal Mortgage Loan, the interest portion of any Monthly Advance for such Mortgage
Loan for any Due Period shall be limited to the amount of any interest that otherwise would be advanced on such Mortgage Loan,
multiplied by a fraction, the numerator of which is the Principal Balance of such Mortgage Loan minus the related Appraisal
Reduction (to the extent such Appraisal Reduction is allocated to the related Mortgage Loan), and the denominator of which is the
Principal Balance of such Required Appraisal Mortgage Loan. The Servicer shall report to the Certificate Administrator on or before
each Determination Date all Appraisal Reduction.

 

(c)           No
later than the Servicer Remittance Date immediately preceding each Distribution Date, the Servicer shall:

 

(i)            remit
to the Certificate Administrator for deposit in the Lower-Tier Distribution Account, an amount equal to the aggregate of the related
applicable portion of the Available Funds and the amount of any applicable related Yield Maintenance Default Premiums received
during the related Due Period;

 

(ii)           make
a Monthly Advance, by remittance to the Certificate Administrator for deposit into Lower-Tier Distribution Account, in an amount
equal to the sum of the required Monthly Advance pursuant to Section 4.07(a) above for each Mortgage Loan, to the extent
such amount was not received on such Mortgage Loan as of the close of business on the Determination Date on or prior to the Servicer
Remittance Date (and therefore are not included in the remittance described in the preceding clause (i)); provided
that if any such amount is received by close of business on the Servicer Remittance Date, the Servicer shall reimburse itself for
such Advance from such receipt and no Advance Interest Amount shall be charged with respect thereto; and

 

(iii)          remit
to the Certificate Administrator for deposit in the Lower-Tier Distribution Account, an amount equal to the Certificate Administrator
Fee (including the Trustee Fee) and any other reimbursement owing to the Certificate Administrator and the Trustee in respect of
the immediately preceding month to be paid in accordance with Section 3.06(c); provided that to the extent the Servicer
receives a Principal Prepayment on the related Servicer Remittance Date that is also the Payment Date, the Servicer is not required
to remit such payment on such Servicer Remittance Date but shall use its best efforts to remit such amount to the Certificate Administrator
by 5:00 p.m. (New York City time) on such Servicer Remittance Date and shall remit such Principal Prepayment in any event no later
than 10:00 a.m. (New York City time) on the next Business Day, accompanied by interest for the benefit of the Certificate Administrator
on such Principal Prepayment at the “bank rate” from and including the Servicer Remittance Date to but excluding such
next Business Day, such interest to be paid from the Servicer’s own funds and not from the assets of the Trust.

 

(d)           The
Servicer shall not make an advance for Prepayment Interest Shortfalls, Yield Maintenance Default Premiums, Default Interest or
Balloon Payments.

 

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(e)            If
as of 11:00 a.m. (New York City time), on any Distribution Date the Servicer shall not have made the Monthly Advance required to
have been made on the related Servicer Remittance Date pursuant to Section 4.07(c)(ii), the Trustee shall no later than
1:00 p.m. (New York City time), on such Business Day deposit into the Lower-Tier Distribution Account (to the extent described
in clause (i) or (ii) of the first sentence of Section 4.07(a)), in immediately available funds an amount
equal to the Monthly Advance otherwise required to have been made by the Servicer.

 

(f)            The
Servicer or the Trustee, as applicable, shall be entitled to the reimbursement of Monthly Advances it makes to the extent permitted
pursuant to Section 3.06 together with any related Advance Interest Amount in respect of such Monthly Advances to the extent
permitted pursuant to Section 3.06.

 

(g)           None
of the Servicer or the Trustee shall be obligated to make a Monthly Advance on any date on which a Monthly Advance is otherwise
required to be made by this Section 4.07 if the Servicer, the applicable Special Servicer or the Trustee, as applicable,
determines that such advance will be a Nonrecoverable Advance. The Servicer shall be required to provide notice to the Trustee
on or prior to the Servicer Remittance Date of any such non recoverability determination made on or prior to such date. The Servicer
shall consider an Unliquidated Advance in respect of prior Monthly Advances for the purpose of recoverability determinations as
if such Unliquidated Advance were an unreimbursed Monthly Advance. The Trustee shall be entitled to rely, conclusively, on any
determination by the Servicer that a Monthly Advance, if made, would be a Nonrecoverable Advance; provided, however,
that if the Servicer has failed to make a Monthly Advance for reasons other than a determination by the Servicer that such Advance
would be a Nonrecoverable Advance, the Trustee shall make such Advance within the time periods required by Section 4.07(e)
unless the Trustee, in good faith, makes a determination prior to the times specified in Section 4.07(e) that such Advance
would be a Nonrecoverable Advance. On each Determination Date, the applicable Special Servicer shall report to the Servicer such
Special Servicer’s determination as to whether each Monthly Advance made with respect to any previous Distribution Date or
required to be made with respect to such Distribution Date with respect to any Specially Serviced Mortgage Loan or REO Mortgage
Loan is a Nonrecoverable Advance. The Servicer and the Trustee shall be entitled to conclusively rely on such determination.

 

(h)           If
the Servicer fails to remit to the Certificate Administrator any amount for deposit into the Lower-Tier Distribution Account when
required pursuant to this Agreement (notwithstanding Section 7.01(a)(i)), the Servicer shall pay to the Certificate Administrator
for the account of the Certificate Administrator interest on any amount not timely remitted at the bank rate from and including
the day such remittance was required to be made to, but not including, the day on which such remittance was actually made. Notwithstanding
the foregoing, the portion of any Monthly Advance equal to the CREFC® Intellectual Property Royalty License Fee
for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier Distribution
Account, but shall be deposited into the Collection Account for payment to CREFC® on such Distribution Date.

 

Section 4.08     Appraisal
Reductions. (a) [Reserved]

 

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(b)           For
purposes of determining the Voting Rights of the related Classes for purposes of removal of a Special Servicer or determining the
Controlling Class with respect to a Mortgage Loan (and whether a Control Event has occurred and is continuing with respect to such
Mortgage Loan), Appraisal Reductions will be allocated to each Class of Certificates (other than the Class X and Class R Certificates)
in reverse sequential order to notionally reduce the related Certificate Balances until the Certificate Balance of each such Class
is reduced to zero (i.e., first, to the related Classes of Loan Specific Certificates in reverse numerical order, then,
to the Class C Certificates, and then, to the Class B). The Servicer shall notify the Certificate Administrator of the amount
of any Appraisal Reduction with respect to each Mortgage Loan.

 

(c)           [Reserved]

 

(d)           With
respect to each Mortgage Loan or related Companion Loan as to which an Appraisal Reduction has occurred (unless such Mortgage Loan
(and any related Companion Loan) has become a Rehabilitated Mortgage Loan (for such purposes taking into account any amendment
or modification of such Mortgage Loan), the applicable Special Servicer shall promptly order an Appraisal (which may be an update
of a prior Appraisal), the cost of which shall be paid by the Servicer as a Servicing Advance and to the extent it would be a Nonrecoverable
Advance, a Trust expense, promptly following receipt of any such Appraisal, shall deliver a copy thereof to the Servicer and the
Trustee. Based upon such Appraisal, the applicable Special Servicer shall redetermine and report to the Servicer, the Certificate
Administrator, the Trustee and, prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder, the
amount and calculation of the Appraisal Reduction with respect to such Mortgage Loan and the related Companion Loans, and such
redetermined Appraisal Reduction shall replace the prior Appraisal Reduction with respect to such Mortgage Loan and the related
Companion Loans. Prior to the occurrence of a Consultation Termination Event, the applicable Special Servicer shall consult with
the Directing Certificateholder with respect to the calculation of an Appraisal Reduction. Notwithstanding the foregoing, the applicable
Special Servicer will not be required to obtain an Appraisal with respect to a Mortgage Loan as to which an Appraisal Reduction
Event has occurred to the extent that such Special Servicer has obtained an Appraisal (in accordance with requirements of this
Agreement), as applicable, with respect to the related Mortgaged Property within the nine-month period immediately prior to the
occurrence of such Appraisal Reduction Event. Instead, such Special Servicer may use such prior Appraisal in calculating any Appraisal
Reduction with respect to such Mortgage Loan and the related Companion Loans; provided that such Special Servicer is not
aware of any material change to the related Mortgaged Property, its earnings potential or risk characteristics, or marketability,
or market conditions having occurred and affecting the validity of such Appraisal or valuation, as applicable. The applicable Special
Servicer is required, within 30 days of each annual anniversary of the related Appraisal Reduction Event to order an appraisal
(which may be an update of a prior appraisal), the cost of which will be a Servicing Advance.

 

(e)           Any
Mortgage Loan (and any related Companion Loan) previously subject to an Appraisal Reduction, which has become a Rehabilitated Mortgage
Loan (for such purposes taking into account any amendment or modification of such Mortgage Loan), and with respect to which no
other Appraisal Reduction Event has occurred and is continuing, will no longer be subject to an Appraisal Reduction.

 

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(f)          Subject
to Accepted Servicing Practices, absent manifest error in the appraised value contained in an Appraisal or a material change in
circumstances since the date of the Appraisal, the applicable Special Servicer shall not adjust downward the appraised value of
any Mortgaged Property in making an Appraisal Reduction calculation, to the extent that such downward adjustment would cause the
senior-most Class of related Loan Specific Certificates to become an Appraised-Out Class.

 

If the Certificate Balance
of the most senior Class of related Loan Specific Certificates (taking into account the application of any Appraisal Reductions)
to notionally reduce the Certificate Balance of such Class) has been reduced to less than 25% of its initial Certificate Balance,
such Class shall be referred to as the “Appraised-Out Class”. The Holders of the majority (by Certificate Balance)
of the Appraised-Out Class shall have the right, at their sole expense, to require the applicable Special Servicer to order a second
Appraisal of the Mortgaged Properties (such Holders, the “Requesting Holders”). The applicable Special Servicer
shall use its reasonable best efforts to ensure that such Appraisal is delivered within thirty (30) days from receipt of the Requesting
Holders’ written request and shall ensure that such Appraisal is prepared by an Independent Appraiser).

 

In addition, if subsequent
to the senior-most Class of related Loan Specific Certificates becoming an Appraised-Out Class there is a material change with
respect to the Mortgaged Property related to the Appraisal Reductions that caused such Class to become an Appraised-Out Class,
the Requesting Holders shall have the right to request, in writing, that the applicable Special Servicer obtain an additional Appraisal,
which request shall set forth the Requesting Holders’ belief of what constitutes a material change to the Mortgaged Property
(including any related documentation). The costs of obtaining such additional Appraisal shall be paid by the Requesting Holders.
Subject to the applicable Special Servicer’s confirmation, determined in accordance with Accepted Servicing Practices, that
there has been a change with respect to such Mortgaged Property and such change was material, the applicable Special Servicer shall
order another Appraisal from an Independent Appraiser, the identity of which shall be determined by such Special Servicer in accordance
with Accepted Servicing Practices (provided that such Independent Appraiser may not be the same Independent Appraiser that
provided the Appraisal in respect of which the Requesting Holders are requesting such Special Servicer to obtain an additional
Appraisal). Appraisals that are permitted to be requested by any Appraised-Out Class shall be in addition to any Appraisals that
the applicable Special Servicer may otherwise be required to obtain in accordance with Accepted Servicing Practices upon the occurrence
of such material change or that such Special Servicer is otherwise required or permitted to order under this Agreement without
regard to any Appraisal requests made by any Requesting Holder.

 

Upon receipt of any supplemental
Appraisal pursuant to the two preceding paragraphs, the applicable Special Servicer shall recalculate such Appraisal Reductions
based upon such second Appraisal. If required by any such recalculation, the applicable Appraised-Out Class shall be reinstated
as the Controlling Class and each other Appraised-Out Class shall, if applicable, have its related Certificate Balance notionally
restored to the extent required by such recalculation of the Appraisal Reductions.

 

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Any
Appraised-Out Class for which the Requesting Holders are challenging the applicable Special Servicer’s Appraisal Reductions
determination may not exercise any rights of the related Controlling Class until such time, if any, as such Class is reinstated
as the Controlling Class.

 

ARTICLE
V

 

THE
CERTIFICATES

 

Section
5.01       The Certificates. (a) The Certificates consist of the Class A, Class X,
Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class R Certificates. The
Certificates will be substantially in the forms annexed as Exhibits A-1 through A-10, as set forth in the Table
of Exhibits hereto.

 

The
Certificates of each Class (other than Class R) will be issuable in registered form only, in authorized minimum denominations
of Certificate Balance or Notional Amount, as applicable as described in the succeeding table, and multiples of (a) $1,000
in excess thereof in the case of the Principal Balance Certificates and (b) $1 in excess thereof in the case of the Class X
Certificates. With respect to any Certificate or any beneficial interest in a Certificate, the “Denomination”
thereof shall be (i) the amount (A) set forth on the face thereof or (B) in the case of any Global Certificate,
set forth on a schedule attached thereto or, in the case of any beneficial interest in a Global Certificate, the amount set forth
on the books and records of the related Depository Participant or an indirect Depository Participant, as applicable, (ii) expressed
in terms of initial Certificate Balance or Notional Amount and (iii) be in an authorized denomination, as set forth below:

 

	 	 	 	 	 
	Class	 	Minimum
    Denomination
	A	 	$	100,000	 
	X	 	$	1,000,000	*
	B	 	$	100,000	 
	C	 	$	100,000	 
	PR-1	 	$	100,000	 
	PR-2	 	$	100,000	 
	SQ-1	 	$	100,000	 
	SQ-2	 	$	100,000	 
	SQ-3	 	$	100,000	 

 

 

		*	Notional

 

The
Class R Certificates shall be issued in registered form only in minimum denominations of 10% Percentage Interests, and in
integral multiples of 1% in excess thereof.

 

(b)           
Each Certificate shall, on original issue, be executed by the Certificate Administrator and authenticated by the Certificate Administrator
or the Authenticating Agent upon the order of the Depositor. No Certificate shall be entitled to any benefit under this Agreement,
or be valid for any purpose, unless there appears on such Certificate a certificate of authentication substantially in the form
provided for herein, executed by an authorized officer of the Certificate Administrator or the Authenticating Agent, if any, by
manual signature, and such certification upon any Certificate shall be conclusive evidence, and the only evidence, that such

 

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Certificate
has been duly authenticated and delivered hereunder. All Certificates shall be dated the date of their authentication. At any
time and from time to time after the execution and delivery of this Agreement, the Depositor may deliver Certificates to the Certificate
Administrator for execution and authentication and the Certificate Administrator shall execute and the Certificate Administrator
or the Authenticating Agent shall authenticate and deliver such Certificates as in this Agreement provided and not otherwise.
If additional Certificates need to be prepared at any time subsequent to the Closing Date, the Depositor shall prepare, or cause
to be prepared, and deliver, or cause to be delivered, at the Depositor’s expense, any such additional Certificates. With
respect to the Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2 and
Class SQ-3 Certificates, on the Closing Date the Certificate Administrator shall execute and the Certificate Administrator or
the Authenticating Agent upon the order of the Depositor shall authenticate Book Entry Certificates that are issued in the name
of Cede & Co., in which the Beneficial Owners will hold an interest and in definitive form to investors that are IAIs. The
Class R Certificates will be issued only in definitive form.

 

(c)            
So long as the Certificates constitute “restricted securities” within the meaning of Rule 144(a)(3) under the
Securities Act and the Depositor is not subject to the information requirements of the Exchange Act, the Holder or Beneficial
Owner of any Certificate and any prospective purchaser of such Certificate or an interest therein designated by such Holder or
Beneficial Owner, will have the right to obtain from the Depositor and the Certificate Administrator information required under
Rule 144A(d)(4) of the Securities Act (“Rule 144A Information”). The Trustee, the Servicer and the
Special Servicer subject to such request shall each be required to furnish to the Certificate Administrator, upon request, any
such information in the possession of the Servicer or such Special Servicer, as applicable. The Trustee, the Servicer, each Special
Servicer and the Certificate Administrator shall cooperate with the Depositor in furnishing such information pursuant to this
Section, but none of them shall be responsible for the sufficiency of the information so furnished and none of them shall be obligated
to deliver any Rule 144A Information under this Section 5.01(c) if such information is not in its possession.

 

The
Certificate Administrator initially shall be the Certificate Registrar and transfer agent in respect of the Certificates and shall,
in such capacities, (i) maintain a record (the “Certificate Register”) of the aggregate holdings of Certificates
represented by each Regulation S Global Certificate and each Domestic Global Certificate and accept Certificates for exchange
and registration of transfer, (ii) register the names and addresses of all Certificateholders and the names and addresses
of the transferees of any Certificates in the Certificate Register; provided, however, that in no event shall the
Certificate Registrar be required to maintain in the Certificate Register the names of the individual participants holding beneficial
interests through the Depository and (iii) transmit to the Depositor, the Servicer and the applicable Special Servicer any
notices from Certificateholders. The Certificate Registrar may resign or be discharged or removed by the Certificate Administrator,
the Trustee, the Depositor, the Servicer or the Certificateholders, and a new successor may be appointed, in accordance with the
procedures and requirements set forth in Sections 8.07 and 8.08 with respect to the resignation, discharge
or removal of the Certificate Administrator and the appointment of a successor certificate administrator. The Certificate Registrar
may appoint, by a written instrument delivered to the Certificateholders, the Certificate Administrator and the Trustee, any trust
company to act as co-registrar under such conditions as the Certificate Registrar may prescribe; provided that the

 

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Certificate
Registrar shall not be relieved of any of its duties or responsibilities hereunder by reason of such appointment.

 

(d)           
To the extent that under the terms of this Agreement, it is necessary to determine whether any Person is a Beneficial Owner, the
Certificate Administrator shall make such determination based on an Investor Certification; provided, however, that
the Certificate Administrator is not to knowingly recognize such Person as a Beneficial Owner if such Person, to the actual knowledge
of a Responsible Officer of the Certificate Administrator, acquired its interest in a Certificate in violation of the transfer
restrictions herein. Nothing in this paragraph shall be construed to require the Certificate Administrator to confirm, at its
own expense, with any Clearing Agency or Clearing Agency Participants, the identity of a Beneficial Owner. The Certificate Administrator
may conclusively rely on such Beneficial Ownership Certification.

 

Section
5.02       Registration of Transfer and Exchange of Certificates. (a)  The Certificate
Administrator shall keep or cause to be kept at the its principal offices the Certificate Register in which, subject to such reasonable
regulations as it may prescribe, it shall provide for the registration of Certificates and of transfers and exchanges of Certificates
as herein provided (the Certificate Administrator, in such capacity, being the “Certificate Registrar”). The
Certificate Registrar shall be responsible for, among other things, (i) maintaining the Certificate Register and a record
of the aggregate holdings of Certificates of each Class represented by a Temporary Regulation S Global Certificate, a Regulation
S Global Certificate and a Rule 144A Global Certificate and accepting Certificates for exchange and registration of transfer
and (ii) transmitting to the Depositor, the Servicer and the applicable Special Servicer any notices from the Certificateholders.

 

(b)           
Subject to the restrictions on transfer set forth in this Article V, upon surrender for registration of transfer of
any Certificate, the Certificate Administrator shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

(c)           
Rule 144A Global Certificate to Temporary Regulation S Global Certificate. If a holder of a beneficial interest in
the Rule 144A Global Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time
to exchange its interest in such Rule 144A Global Certificate for an interest in the Temporary Regulation S Global Certificate
of the same Class, or to transfer its interest in such Rule 144A Global Certificate to a Person who is required to take delivery
thereof in the form of an interest in the Temporary Regulation S Global Certificate of the same Class, such holder may, subject
to the rules and procedures of the Depository, exchange or cause the exchange of such interest for an equivalent beneficial interest
in such Temporary Regulation S Global Certificate. Upon receipt by the Certificate Registrar, as registrar, at its office designated
in Section 5.02 of this Agreement, of (1) instructions given in accordance with the Depository’s procedures
from a Depository Participant directing the Certificate Registrar to credit, or cause to be credited, a beneficial interest in
the Temporary Regulation S Global Certificate in an amount equal to the beneficial interest in the Rule 144A Global Certificate
to be exchanged, (2) a written order given in accordance with the Depository’s procedures containing information regarding
the Euroclear or Clearstream account to be credited with such increase and the name of such account and (3) a

 

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certificate
in the form of Exhibit E to this Agreement given by the holder of such beneficial interest stating that the transfer
of such interest has been made in compliance with the transfer restrictions applicable to the Global Certificates and pursuant
to and in accordance with Regulation S, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be
reduced, the Certificate Balance of the Rule 144A Global Certificate and to increase, or cause to be increased, the Certificate
Balance of the Temporary Regulation S Global Certificate by the aggregate Certificate Balance of the beneficial interest in the
Rule 144A Global Certificate to be exchanged, to credit or cause to be credited to the account of the Person specified in
such instructions (who shall be the agent member of Euroclear or Clearstream, or both) a beneficial interest in the Temporary
Regulation S Global Certificate equal to the reduction in the Certificate Balance of the Rule 144A Global Certificate, and
to debit, or cause to be debited, from the account of the Person making such exchange or transfer the beneficial interest in the
Rule 144A Global Certificate that is being exchanged or transferred.

 

(d)           
Rule 144A Global Certificate to Regulation S Global Certificate. If a holder of a beneficial interest in the Rule 144A
Global Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its
interest in such Rule 144A Global Certificate for an interest in the Regulation S Global Certificate of the same Class, or
to transfer its interest in such Rule 144A Global Certificate to a Person who is required to take delivery thereof in the
form of an interest in a Regulation S Global Certificate, such holder may, subject to the rules and procedures of the Depository,
exchange, or cause the exchange of, such interest for an equivalent beneficial interest in such Regulation S Global Certificate.
Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.02 of this Agreement,
of (1) instructions given in accordance with the Depository’s procedures from a Depository Participant directing the Certificate
Registrar to credit or cause to be credited a beneficial interest in the Regulation S Global Certificate in an amount equal to
the beneficial interest in the Rule 144A Global Certificate to be exchanged, (2) a written order given in accordance with
the Depository’s procedures containing information regarding the participant account of the Depository to be credited with
such increase and (3) a certificate in the form of Exhibit F to this Agreement given by the holder of such beneficial
interest stating (A) that the transfer of such interest has been made in compliance with the transfer restrictions applicable
to the Global Certificates and pursuant to and in accordance with Regulation S, (B) that the Certificate being transferred
is not a “restricted security” as defined in Rule 144 under the Securities Act or (C) that the transferee
is otherwise entitled to hold its interest in the applicable Certificates in the form of an interest in the Regulation S Global
Certificate, without any registration of such Certificates under the Securities Act (in which case such certificate shall enclose
an Opinion of Counsel to such effect and such other documents as the Certificate Registrar may reasonably require), then the Certificate
Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Global
Certificate and to increase, or cause to be increased, the Certificate Balance of the Regulation S Global Certificate by the aggregate
Certificate Balance of the beneficial interest in the Rule 144A Global Certificate to be exchanged, to credit or cause to
be credited to the account of the Person specified in such instructions a beneficial interest in the Regulation S Global Certificate
equal to the reduction in the Certificate Balance of the Rule 144A Global Certificate, and to debit, or cause to be debited,
from the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Global Certificate
that is being exchanged or transferred.

 

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(e)            
Temporary Regulation S Global Certificate or Regulation S Global Certificate to Rule 144A Global Certificate. If a
holder of a beneficial interest in a Temporary Regulation S Global Certificate or Regulation S Global Certificate deposited with
the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest in such Temporary Regulation
S Global Certificate or Regulation S Global Certificate for an interest in the Rule 144A Global Certificate of the same Class,
or to transfer its interest in such Temporary Regulation S Global Certificate or Regulation S Global Certificate to a Person who
is required to take delivery thereof in the form of an interest in the Rule 144A Global Certificate, such holder may, subject
to the rules and procedures of Euroclear or Clearstream, as the case may be, and the Depository, exchange or cause the exchange
of such interest for an equivalent beneficial interest in the Rule 144A Global Certificate of the same Class. Upon receipt
by the Certificate Registrar, as registrar, at its office designated in Section 5.02 of this Agreement, of (1) instructions
from Euroclear or Clearstream, if applicable, and the Depository, directing the Certificate Registrar, as registrar, to credit
or cause to be credited a beneficial interest in the Rule 144A Global Certificate equal to the beneficial interest in the
Temporary Regulation S Global Certificate or Regulation S Global Certificate to be exchanged, such instructions to contain information
regarding the participant account with the Depository to be credited with such increase, (2) with respect to a transfer of an
interest in the Regulation S Global Certificate, information regarding the participant account of the Depository to be debited
with such decrease and (3) with respect to a transfer of an interest in the Temporary Regulation S Global Certificate (but not
the Regulation S Global Certificate) for an interest in the Rule 144A Global Certificate, a certificate in the form of Exhibit G
to this Agreement given by the holder of such beneficial interest and stating that the Person transferring such interest in
the Temporary Regulation S Global Certificate reasonably believes that the Person acquiring such interest in the Rule 144A
Global Certificate is a Qualified Institutional Buyer and is obtaining such beneficial interest in a transaction meeting the requirements
of Rule 144A, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate
Balance of the Temporary Regulation S Global Certificate or Regulation S Global Certificate and to increase, or cause to be increased,
the Certificate Balance of the Rule 144A Global Certificate by the aggregate Certificate Balance of the beneficial interest
in the Temporary Regulation S Global Certificate or Regulation S Global Certificate to be exchanged, and the Certificate Registrar
shall instruct the Depository, concurrently with such reduction, to credit, or cause to be credited, to the account of the Person
specified in such instructions, a beneficial interest in the Rule 144A Global Certificate equal to the reduction in the Certificate
Balance of the Temporary Regulation S Global Certificate or Regulation S Global Certificate and to debit, or cause to be debited,
from the account of the Person making such transfer the beneficial interest in the Temporary Regulation S Global Certificate or
Regulation S Global Certificate that is being transferred.

 

(f)            
Temporary Regulation S Global Certificate to Regulation S Global Certificate. Interests in a Temporary Regulation S Global
Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as the case may be, a certificate
(a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear or Clearstream, as applicable,
has received a certificate substantially in the form of Exhibit H to this Agreement from the holder of a beneficial
interest in such Temporary Regulation S Global Certificate, shall be exchanged after the Restricted Period, for interests in the
Regulation S Global Certificate of the same Class. The Certificate Registrar shall effect such exchange by delivering to the Depository
for credit to the respective accounts of such holders, a duly executed and

 

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authenticated
Regulation S Global Certificate, representing the aggregate Certificate Balance of interests in the Temporary Regulation S Global
Certificate initially exchanged for interests in the Regulation S Global Certificate. The delivery to the Certificate Registrar
by Euroclear or Clearstream of the certificate or certificates referred to above may be relied upon by the Depositor and the Certificate
Registrar as conclusive evidence that the certificate or certificates referred to therein has or have been delivered to Euroclear
or Clearstream pursuant to the terms of this Agreement and the Temporary Regulation S Global Certificate. Upon any exchange of
interests in the Temporary Regulation S Global Certificate for interests in the Regulation S Global Certificate, the Certificate
Registrar shall endorse the Temporary Regulation S Global Certificate to reflect the reduction in the Certificate Balance represented
thereby by the amount so exchanged and shall endorse the Regulation S Global Certificate to reflect the corresponding increase
in the amount represented thereby. Until so exchanged in full and except as provided therein, the Temporary Regulation S Global
Certificate, and the Certificates evidenced thereby, shall in all respects be entitled to the same benefits under this Agreement
as the Regulation S Global Certificate and Rule 144A Global Certificate authenticated and delivered hereunder.

 

(g)           
Non-Book Entry Certificate to Global Certificate. If a holder of a Non-Book Entry Certificate wishes at any time to exchange
its interest in such Non-Book Entry Certificate for an interest in a Global Certificate of the same Class, or to transfer all
or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery thereof in the form of an interest in
a Global Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream, if applicable, and the
Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial interest in the
appropriate Global Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar, at its office designated
in Section 5.02 of this Agreement, of (1) such Non-Book Entry Certificate, duly endorsed as provided herein, (2) instructions
from such holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a beneficial interest
in the applicable Global Certificate equal to the portion of the Certificate Balance of the Non-Book Entry Certificate to be exchanged,
such instructions to contain information regarding the participant account with the Depository to be credited with such increase
and (3) a certificate in the form of Exhibit I to this Agreement (in the event that the applicable Global Certificate
is the Temporary Regulation S Global Certificate), in the form of Exhibit J to this Agreement (in the event that the
applicable Global Certificate is the Regulation S Global Certificate) or in the form of Exhibit K to this Agreement
(in the event that the applicable Global Certificate is the Rule 144A Global Certificate), then the Certificate Registrar,
as registrar, shall cancel, or cause to be canceled, all or part of such Non-Book Entry Certificate, and shall, if applicable,
direct the Certificate Administrator to execute, authenticate and deliver to the transferor a new Non-Book Entry Certificate equal
to the aggregate Certificate Balance of the portion retained by such transferor and shall instruct the Depository to increase,
or cause to be increased, such Global Certificate by the aggregate Certificate Balance of the portion of the Non-Book Entry Certificate
to be exchanged and to credit, or cause to be credited, to the account of the Person specified in such instructions a beneficial
interest in the applicable Global Certificate equal to the Certificate Balance of the portion of the Non-Book Entry Certificate
so canceled.

 

(h)           
Exchanges of Non-Book Entry Certificates. If a holder of a Rule 144A Global Certificate, Regulation S Global Certificate
or Non-Book Entry Certificate wishes at any time to transfer its interest in such Rule 144A Global Certificate, Regulation
S Global Certificate

 

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or
Non-Book Entry Certificate to a Person who is required to take delivery thereof in the form of a Non-Book Entry Certificate, then
the Certificate Registrar shall refuse to register such transfer unless it receives (and upon receipt, may conclusively rely upon):
(i) an investment representation letter from the proposed transferee substantially in the form attached as Exhibit L-4
to this Agreement and (ii) if required by the Certificate Registrar, an opinion of counsel satisfactory to the Certificate
Registrar to the effect that such transfer shall be made without registration under the Securities Act, together with the written
certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or
the proposed transferee on which such opinion of counsel is based (such opinion of counsel shall not be an expense of the Trust
or of the Depositor, the Servicer, the applicable Special Servicer, the Trustee, the Certificate Administrator or the Certificate
Registrar in their respective capacities as such).

 

(i)             
Other Exchanges. In the event that a Global Certificate is exchanged for a Definitive Certificate, such Certificates may
be exchanged only in accordance with such procedures as are substantially consistent with the provisions of clauses (c)
through (f) and (h) above (including the certification requirements intended to ensure that such transfers comply
with Rule 144A or Regulation S under the Securities Act, at the case may be) and such other procedures as may from time to
time be adopted by the Certificate Registrar.

 

(j)             
Restricted Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates,
transfers of interests in the Temporary Regulation S Global Certificate to U.S. persons (as defined in Regulation S) shall be
limited to transfers made pursuant to the provisions of clause (e) above.

 

(k)             
Reserved.

 

(l)             
All Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the Certificate
Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(m)           
No ERISA Restricted Certificate or Class R Certificate may be purchased by or transferred to any prospective purchaser or
transferee that is or will be an employee benefit plan or other plan subject to the fiduciary responsibility provisions of ERISA
or Code Section 4975 or a governmental plan (as defined in Section 3(32) of ERISA) or other plan that is subject to
any federal, state or local law that is, to a material extent, similar to the foregoing provisions of ERISA or the Code (“Similar
Law”) (each, a “Plan”), or any person acting on behalf of any such plan or using the assets of a
Plan to purchase such ERISA Restricted Certificate or Class R Certificate, other than, in the case of the ERISA Restricted
Certificates, an insurance company using the assets of its general account under circumstances whereby the purchase and holding
of such Certificates by such insurance company would be exempt from the prohibited transaction provisions of ERISA and the Code
under Sections I and III of Prohibited Transaction Class Exemption 95-60 (or, in the case of a governmental plan
subject to Similar Law, the acquisition, holding and disposition of such Certificates will not constitute or otherwise result
in a non-exempt violation of Similar Law). Except in connection with the transfer thereof by an Initial Purchaser, each prospective
transferee of an ERISA Restricted Certificate or a Class R Certificate in Non-Book Entry Certificate form shall deliver to
the transferor, the

 

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Certificate
Registrar and the Certificate Administrator a representation letter, substantially in the form of Exhibit C-5 to this
Agreement, stating that the prospective transferee is not a Plan or a person acting on behalf of or using the assets of a Plan,
other than, in the case of the ERISA Restricted Certificates, an insurance company using the assets of its general account under
circumstances whereby the purchase and holding of such Certificates by such insurance company would be exempt from the prohibited
transaction provisions of ERISA and the Code under Sections I and III of Prohibited Transaction Class Exemption 95-60
(or, in the case of a governmental plan subject to Similar Law, the acquisition, holding and disposition of such Certificates
will not constitute or otherwise result in a non-exempt violation of Similar Law). No Class A, Class X, Class B
or Class C Certificate and no Certificate which has ceased to be an ERISA Restricted Certificate (because of the proviso
in the definition of “ERISA Restricted Certificate”) may be purchased by or transferred to any prospective
purchaser or transferee that is or will be a Plan, or any person acting on behalf of any such plan or using the assets of a Plan
to purchase such Certificate, unless (A) the purchaser is an accredited investor, as defined in Rule 501(a)(1) of Regulation
D, (B) the purchaser is not sponsored (within the meaning of Section 3(16)(B) of ERISA) by any member of the Restricted
Group, and (C) the purchaser agrees that it will obtain the following from each prospective transferee that is a retirement
plan or other employee benefit plan or arrangement subject to Title I of ERISA, Section 4975 of the Code or Similar Law:
(x) a written representation that such transferee satisfies the requirements described in the immediately foregoing clauses (A)
and (B), and (y) a written agreement of the type described in this clause (C). Any attempted or purported
transfer in violation of these transfer restrictions shall be null and void ab initio and shall vest no rights in any purported
transferee and shall not relieve the transferor of any obligations with respect to the applicable Certificates.

 

(n)           
Each Person who has or acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such Residual
Ownership Interest to have agreed to be bound by the following provisions and the rights of each Person acquiring any Residual
Ownership Interest are expressly subject to the following provisions:

 

                           
(i)             Each Person acquiring or holding any Residual Ownership
Interest shall be a Permitted Transferee and shall not acquire or hold such Residual Ownership Interest as agent (including a
broker, nominee or other middleman) on behalf of any Person that is not a Permitted Transferee. Any such Person shall promptly
notify the Certificate Registrar of any change or impending change in its status (or the status of the beneficial owner of such
Residual Ownership Interest) as a Permitted Transferee. Any acquisition described in the first sentence of this Section 5.02(n)
by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person who is not a Permitted
Transferee shall be void ab initio and of no effect, and the immediately preceding owner who was a Permitted Transferee shall
be restored to registered and beneficial ownership of the Residual Ownership Interest as soon and as fully as possible.

 

                           
(ii)             No Residual Ownership Interest may be Transferred,
and no such Transfer shall be registered in the Certificate Register, without the express written consent of the Certificate Registrar,
and the Certificate Registrar shall not recognize the Transfer, and such proposed Transfer shall not be effective, without such
consent with respect thereto. In connection with any proposed Transfer of any Residual Ownership Interest, other than

 

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in
connection with the initial Transfer thereof to the Initial Purchasers, the Certificate Registrar shall, as a condition to such
consent, (x) require the proposed transferee to deliver, and the proposed transferee shall deliver to the Certificate Registrar
and to the proposed transferor, an affidavit in substantially the form attached as Exhibit C-3 to this Agreement (a
“Transferee Affidavit”) of the proposed transferee (A) that such proposed transferee is a Permitted Transferee
and (B) stating that (1) the proposed transferee historically has paid its debts as they have come due and intends to do
so in the future, (2) the proposed transferee understands that, as the holder of a Residual Ownership Interest, it may incur tax
liabilities in excess of cash flows generated by the residual interest, (3) the proposed transferee intends to pay taxes associated
with holding the Residual Ownership Interest as they become due, (4) the proposed transferee will not cause income with respect
to the Residual Ownership Interest to be attributable to a foreign permanent establishment or fixed base, within the meaning of
an applicable income tax treaty, of such proposed transferee or any other U.S. Person, (5) the proposed transferee will not transfer
the Residual Ownership Interest to any Person that does not provide a Transferee Affidavit or as to which the proposed transferee
has actual knowledge that such Person is not a Permitted Transferee or is acting as an agent (including a broker, nominee or other
middleman) for a Person that is not a Permitted Transferee, and (6) the proposed transferee expressly agrees to be bound by and
to comply with the provisions of this Section 5.02(n) and (y) other than in connection with the initial issuance
of a Class R Certificate, require a statement from the proposed transferor substantially in the form attached as Exhibit C-4
to this Agreement (the “Transferor Letter”), that the proposed transferor has no actual knowledge that
the proposed transferee is not a Permitted Transferee and has no actual knowledge or reason to know that the proposed transferee’s
statements in the Transferee Affidavit are false.

 

                               
(iii)        Notwithstanding the delivery of a Transferee Affidavit by a proposed transferee
under clause (n)(ii) above, if a Responsible Officer of the Certificate Registrar has actual knowledge that the proposed
transferee is not a Permitted Transferee, no Transfer to such proposed transferee shall be effected and such proposed Transfer
shall not be registered on the Certificate Register; provided, however, that the Certificate Registrar shall not
be required to conduct any independent investigation to determine whether a proposed transferee is a Permitted Transferee. Upon
notice to the Certificate Registrar that there has occurred a Transfer to any Person that is a Disqualified Organization or an
agent thereof (including a broker, nominee or middleman) in contravention of the foregoing restrictions, and in any event not
later than 60 days after a request for information from the transferor of such Residual Ownership Interest or such agent,
the Certificate Registrar and the Certificate Administrator agree to furnish to the IRS and the transferor of such Residual Ownership
Interest or such agent such information necessary to the application of Code Section 860E(e) as may be required by the Code,
including, but not limited to, the present value of the total anticipated excess inclusions with respect to such Class R
Certificate (or portion thereof) for periods after such Transfer. At the election of the Certificate Registrar, the Certificate
Registrar may charge a reasonable fee for computing and furnishing such information to the transferor or to such agent referred
to above; provided, however, that such Persons shall in no event be excused from furnishing such information.

 

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(iv)           The Class R Certificates may only be transferred to
and owned by Qualified Institutional Buyers.

 

Section
5.03       Reserved.

 

Section
5.04       Form and Registration. (a) Each Class of the Regular Certificates sold to an institution
that is not a U.S. Person in offshore transactions in reliance on Regulation S under the Securities Act shall initially be represented
by a temporary global certificate in definitive, fully registered form without interest coupons, substantially in the applicable
form set forth as an exhibit hereto (each a “Temporary Regulation S Global Certificate”), which shall be deposited
on the Closing Date on behalf of the purchasers of the Regular Certificates represented thereby with the Certificate Registrar,
at its principal trust office, as custodian, for the Depository, and registered in the name of the Depository or the nominee of
the Depository for the account of designated agents holding on behalf of Euroclear and/or Clearstream. Prior to the expiration
of the 40-day period commencing on the later of the commencement of the offering and the Closing Date (the “Restricted
Period”), beneficial interests in each Temporary Regulation S Global Certificate may be held only through Euroclear
or Clearstream. After the expiration of the Restricted Period, a beneficial interest in a Temporary Regulation S Global Certificate
may be exchanged for an interest in the related permanent global certificate of the same Class (a “Regulation S Global
Certificate”) in the applicable form set forth as an exhibit hereto in accordance with the procedures set forth in Section 5.02(f)
of this Agreement. During the Restricted Period, distributions due in respect of a beneficial interest in a Temporary Regulation
S Global Certificate shall only be made upon delivery to the Certificate Registrar by Euroclear or Clearstream, as applicable,
of a Non-U.S. Beneficial Ownership Certification. After the expiration of the Restricted Period, distributions due in respect
of any beneficial interests in a Temporary Regulation S Global Certificate shall not be made to the holders of such beneficial
interests unless exchange for a beneficial interest in the Regulation S Global Certificate of the same Class is improperly withheld
or refused. The aggregate Certificate Balance of a Temporary Regulation S Global Certificate or a Regulation S Global Certificate
may from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar, as custodian
for the Depository, as hereinafter provided.

 

On
the Closing Date, the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate
Administrator shall deliver to the Certificate Registrar the Regulation S Global Certificates, which shall be held by the Certificate
Registrar for purposes of effecting the exchanges contemplated by the preceding paragraph.

 

(b)           
The Regular Certificates of each Class offered and sold to Qualified Institutional Buyers in reliance on Rule 144A shall
be represented by a single, global certificate in definitive, fully registered form without interest coupons, substantially in
the applicable form set forth as an exhibit hereto (each, a “Rule 144A Global Certificate” and, together
with the Temporary Regulation S Global Certificates and the Regulation S Global Certificates, the “Global Certificates”),
which shall be deposited with the Certificate Registrar or an agent of the Certificate Registrar, as custodian for the Depository,
and registered in the name of the Depository or a nominee of the Depository. The aggregate Certificate Balance of a Rule 144A
Global Certificate may from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar,
as custodian for the Depository, as hereinafter provided.

 

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(c)           
The Certificates of each Regular Class offered and sold in the United States to investors that are Institutional Accredited Investors
that are not Qualified Institutional Buyers and the Class R Certificates (collectively, the “Non-Book Entry Certificates”)
shall be in the form of Definitive Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall
be registered in the name of such investors or their nominees by the Certificate Registrar who shall deliver the certificates
for such Non-Book Entry Certificates to the respective beneficial owners or owners.

 

(d)           
Owners of beneficial interests in Global Certificates of any Class shall not be entitled to receive physical delivery of certificated
Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is no longer willing
or able to discharge properly its responsibilities as depository with respect to the Global Certificates of such Class or ceases
to be a Clearing Agency, and the Certificate Administrator and the Depositor are unable to locate a qualified successor within
90 days of such notice; or (ii) the Certificate Administrator has instituted or has been directed to institute any judicial
proceeding to enforce the rights of the Holders of such Class and the Certificate Administrator has been advised by counsel that
in connection with such proceeding it is necessary or appropriate for the Certificate Administrator to obtain possession of the
Certificates of such Class; provided, however, that under no circumstances will certificated Certificates be issued
to beneficial owners of a Temporary Regulation S Global Certificate. Upon notice of the occurrence of any of the events described
in clause (i) or (ii) above with respect to any Certificates of a Class that are in the form of Global Certificates
and upon surrender by the Depository of any Global Certificate of such Class and receipt from the Depository of instructions for
reregistration, the Certificate Registrar shall issue Certificates of such Class in the form of Definitive Certificates (bearing,
in the case of a Definitive Certificate issued for a Rule 144A Global Certificate, the same legends regarding transfer restrictions
borne by such Global Certificate), and thereafter the Certificate Registrar shall recognize the holders of such Definitive Certificates
as Certificateholders under this Agreement.

 

(e)           
If any Beneficial Owner wishes to transfer its interest in a Rule 144A Global Certificate to an Institutional Accredited
Investor that is not a Qualified Institutional Buyer, or wishes to transfer its interest in a Regulation S Global Certificate
to a “U.S. person” (as that term is defined in Rule 902(k) under the Securities Act) that is an Institutional
Accredited Investor but not a Qualified Institutional Buyer, then the transferee shall take delivery in the form of a Non-Book
Entry Certificate, subject to the restrictions on the transfer of such Non-Book Entry Certificate in Section 5.02(h)
of this Agreement. No such transfer shall be made and the Certificate Registrar shall not register any such transfer unless such
transfer complies with the provisions of Section 5.02(h) of this Agreement applicable to transfers of Non-Book Entry
Certificates. Upon acceptance for exchange or transfer of a beneficial interest in a Global Certificate for a Non-Book Entry Certificate,
as provided herein, the Certificate Registrar shall endorse on the schedule affixed to the related Global Certificate (or on a
continuation of such schedule affixed to such Global Certificate and made a part thereof) an appropriate notation evidencing the
date of such exchange or transfer and a decrease in the denomination of such Global Certificate equal to the denomination of such
Non-Book Entry Certificate issued in exchange therefor or upon transfer thereof.

 

    	-184-

    	 

    

 

Section
5.05      Notices to Clearing Agency. Whenever notice or other communication to the Certificateholders
is required under this Agreement, unless and until Definitive Certificates shall have been issued to Beneficial Owners pursuant
to Section 5.06, the Certificate Administrator shall give all such notices and communications specified herein to
be given to Certificateholders of the Regular Certificates to the Clearing Agency for distribution to Certificateholders of such
Classes of Certificates. Any beneficial owner of a Certificate who does not receive information through DTC or its participants
may request that Certificate Administrator reports be mailed directly to it by written request to the Certificate Administrator
(accompanied by evidence of such beneficial ownership) at the Corporate Trust Office of the Certificate Administrator. The Servicer,
the Special Servicers, the Certificate Administrator, the Trustee and the Depositor are required to recognize as Certificateholders
only those persons in whose names the Certificates are registered on the books and records of the Certificate Registrar.

 

Section
5.06       Definitive Certificates. (a) All of the Class R Certificates will be
issued in the form of Definitive Certificates. In the case of Definitive Certificates issued in exchange for a Domestic Global
Certificate, such Definitive Certificates shall bear the appropriate legend referred to in Section 5.02 (unless the
Certificate Administrator and the Depositor determine otherwise in accordance with applicable law) and shall be subject to the
provisions of such legend. The Holder of a Definitive Certificate may transfer such Definitive Certificate, subject to compliance
with the provisions of such legend, by surrendering it at (i) the office or agency maintained by the Certificate Administrator
for such purpose, or (ii) the office of any transfer agent appointed by the Depositor. Upon the transfer, exchange or replacement
of Definitive Certificates bearing the legend, or upon specific request for removal of the legend on a Definitive Certificate,
the Certificate Administrator will deliver only Definitive Certificates that bear such legend, or will refuse to remove such legend,
as the case may be, unless there is delivered to the Certificate Administrator and the Depositor such satisfactory evidence, which
may include an Opinion of Counsel, as may reasonably be required by the Certificate Administrator and the Depositor that neither
the legend nor the restrictions on transfer set forth therein are required to ensure compliance with the provisions of the Securities
Act.

 

(b)         
Any beneficial interest in a Global Certificate that is registered in the name of an IAI that is not a Qualified Institutional
Buyer is required to be delivered in the form of a Definitive Certificate and shall cease to be an interest in such Domestic Global
Certificate and, thereafter, will be subject to all transfer restrictions and other procedures applicable to Regular Certificates
in definitive form. Accordingly, such proposed transferees will be required to deliver to the Certificate Registrar a Transferee’s
Certificate in the form included as Exhibit C-2. The Class R Certificates shall be issued only in the form of
Definitive Certificates, and proposed transferees thereof shall also be required to deliver to the Certificate Registrar a Transferee’s
Certificate in the form of Exhibit C-5. Notwithstanding the foregoing, no transfer of a beneficial interest in a Regulation S
Global Certificate to a Definitive Certificate pursuant to this Section 5.06 shall be made prior to the Release Date.

 

(c)         
With respect to the registration and transfer of any Definitive Certificate, in addition to the requirements of Section 5.06(b)
above, the Certificate Registrar shall register the transfer of any such Definitive Certificate if prior to transfer (i) two
years have expired after the later of the Closing Date or the last date on which the Depositor or any affiliate of the Depositor
held such Certificate or (ii) the transferee furnishes to the Certificate Registrar (A) an

 

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Opinion
of Counsel acceptable to the Certificate Registrar that such transfer is in compliance with the Securities Act and (B) a
written undertaking by the transferor to reimburse the Trust Fund for any costs incurred by it in connection with the proposed
transfer.

 

(d)            
If a Holder of a Definitive Certificate wishes at any time to transfer such Certificate to a Person who wishes to take delivery
thereof in the form of a beneficial interest in a Regulation S Global Certificate or the Domestic Global Certificate, such
transfer may be effected only upon receipt by the Certificate Registrar of (x) a certificate in the form of Exhibit J
(if delivery is to be taken in the form of a beneficial interest in the Regulation S Global Certificate) or (y) a
certificate in the form of Exhibit C-1 from the transferee to the effect that such transferee is a Qualified Institutional
Buyer (if delivery is to be taken in the form of a beneficial interest in the Domestic Global Certificate).

 

The
certificate provided in the form of Exhibit J shall include a certification to the effect that: (i) (1) the
offer of the Certificates was not made to a person in the United States; and (2) no directed selling efforts have been made
in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act; or (ii) with respect to transfers
made in reliance on Rule 144 under the Securities Act, that the Certificates being transferred are not “restricted
securities” as defined in Rule 144 under the Securities Act.

 

(e)            
Definitive Certificates will be issued to Certificateholders or their nominees if (i) any depositary notifies the Depositor
and the Certificate Administrator in writing that it is at any time unwilling or unable to discharge properly its responsibilities
as depositary with respect to a Global Certificate, or ceases to be a “clearing agency” registered under the Exchange
Act (such depositary hereinafter referred to as the “withdrawing depositary”), and the Certificate Administrator and
the Depositor are unable to locate a qualified successor within 90 days after such notice; (ii) the Certificate Administrator
has instituted or has been directed to institute any judicial proceeding to enforce the rights of the Certificateholders and the
Certificate Administrator has been advised by counsel that in connection with such proceeding it is necessary or appropriate for
the Certificate Administrator to obtain possession of the Certificates; or (iii) a Certificateholder requests that its interest
in a Global Certificate be exchanged for a Definitive Certificate or Certificates. Upon notice of the occurrence of any of the
events described in the preceding sentence (other than clause (iii) thereof) the withdrawing depositary is required
to notify all Depository Participants of the availability of Definitive Certificates. Upon surrender by the withdrawing depositary
of any Global Certificate and receipt from the withdrawing depositary of any Global Certificates and instructions for re registration,
the Certificate Administrator shall issue such Certificates in the form of Definitive Certificates, and thereafter the Certificate
Administrator shall recognize the Holders of such Definitive Certificates as Certificateholders under this Agreement. Neither
the Depositor nor the Certificate Administrator shall be liable for any delay in delivery of such instructions and may conclusively
rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Certificates of such Class,
all references herein to obligations imposed upon or to be performed by the applicable Clearing Agency shall be deemed to be imposed
upon and performed by the Certificate Administrator, to the extent applicable with respect to such Definitive Certificates, and
the Certificate Administrator shall recognize the Certificateholders of the Definitive Certificates of such Class as Certificateholders
of such Class hereunder.

 

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(f)           
Distributions of principal and interest on the Definitive Certificates will be made by the Certificate Administrator directly
to Holders of Definitive Certificates in accordance with the procedures set forth in this Agreement.

 

(g)          
Should any Certificate be lost, stolen, destroyed, mutilated or defaced, it may be replaced at the specified office of the Certificate
Administrator, acting as “replacement agent,” upon payment by the claimant of the expenses incurred in connection
therewith and on such terms as to evidence and indemnity (which may provide, in the case of a lost, stolen or destroyed Certificate,
inter alia, that, if such Certificate is subsequently presented for redemption or payment, there will be paid by such claimant
to the Depositor on demand the principal amount of such Certificate in United States dollars) as the Depositor and the Certificate
Administrator reasonably require. Mutilated or defaced Certificates must be surrendered before replacements will be issued. The
Depositor reserves the right at any time to vary or terminate the appointment of such replacement agent and to appoint another
replacement agent.

 

Section
5.07       Responsibility for Transfer Restrictions. Neither the Certificate Administrator
nor the Certificate Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restriction
on transfer imposed under Article V or under applicable law with respect to any transfer of any Certificate, or any
interest therein, other than to require delivery of the certification(s) and/or Opinions of Counsel described in Article V
applicable with respect to changes in registration of record ownership of Certificates in the Certificate Register. The Depositor,
the Servicer, the Special Servicers, the Trustee, the Certificate Administrator and the Certificate Registrar shall have no liability
for transfers made through the book entry facilities of the Depository or between or among Depository Participants or beneficial
owners of the Certificates in violation of applicable restrictions.

 

Section
5.08       Authenticating Agent. The Certificate Administrator may appoint an Authenticating
Agent to execute and to authenticate Certificates. The Authenticating Agent must be acceptable to the Depositor and the Servicer
and must be a national banking association or corporation organized and doing business under the laws of the United States of
America or any state, having a principal office and place of business in a state and city acceptable to the Depositor and the
Servicer, having a combined capital and surplus of at least $15,000,000, authorized under such laws to do a trust business and
subject to supervision or examination by federal or state authorities. The Certificate Administrator shall serve as the initial
Authenticating Agent and the Certificate Administrator hereby accepts such appointment.

 

Any
national banking association or corporation into which the Authenticating Agent may be merged or converted or with which it may
be consolidated, or any national banking association or corporation resulting from any merger, conversion or consolidation to
which the Authenticating Agent shall be party, or any national banking association or corporation succeeding to the corporate
agency business of the Authenticating Agent, shall be the Authenticating Agent without the execution or filing of any paper or
any further act on the part of the Certificate Administrator or the Authenticating Agent.

 

The
Authenticating Agent may at any time resign by giving at least 30 days’ advance written notice of resignation to the
Certificate Administrator, the Trustee, the Depositor and the Servicer. The Certificate Administrator may at any time terminate
the agency of the

 

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Authenticating
Agent by giving written notice of termination to the Authenticating Agent, the Depositor and the Servicer. Upon receiving a notice
of resignation or upon such a termination, or in case at any time the Authenticating Agent shall cease to be eligible in accordance
with the provisions of this Section 5.08, the Certificate Administrator promptly shall appoint a successor Authenticating
Agent, which shall be acceptable to the Depositor, and shall mail notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and
responsibilities of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section 5.08.

 

The
Authenticating Agent shall have no responsibility or liability for any action taken by it as such at the direction of the Certificate
Administrator; provided that the Certificate Administrator shall in no event be relieved of any liability in connection
with any failure in the performance of its obligations hereunder. Any compensation paid to the Authenticating Agent shall be an
unreimbursable expense of the Certificate Administrator.

 

Section
5.09       Access to List of Certificateholders’ Names and Addresses; Special Notices.
The Certificate Registrar shall maintain in as current form as is reasonably practicable the most recent list available to it
of the names and addresses of the Certificateholders. If any Certificateholder that has provided an Investor Certification (a) requests
in writing from the Certificate Registrar a list of the names and addresses of Certificateholders, (b) states that such Certificateholder
desires to communicate with other Certificateholders with respect to its rights under this Agreement or under the Certificates
and (c) provides a copy of the communication which such Certificateholder proposes to transmit, then the Certificate Registrar
shall, within 10 Business Days after the receipt of such request, afford such Certificateholder (at such Certificateholder’s
sole cost and expense) access during normal business hours to a current list of the Certificateholders related to the Class of
Certificates held by such Certificateholder. Every Certificateholder, by receiving and holding a Certificate, agrees that the
Certificate Registrar shall not be held accountable by reason of the disclosure of any such information as to the list of the
Certificateholders hereunder, regardless of the source from which such information was derived. The Servicer, the requesting Special
Servicer and the Depositor shall be entitled to a list of the names and addresses of Certificateholders from time to time upon
request therefor.

 

Upon
the written request of any Certificateholder that (a) has provided an Investor Certification, (b) states that such Certificateholder
desires the Certificate Administrator to transmit a notice to all Certificateholders stating that such Certificateholder wishes
to be contacted by other Certificateholders, setting forth the relevant contact information and briefly stating the reason for
the requested contact (a “Special Notice”) and (c) provides a copy of the Special Notice which such Certificateholder
proposes to transmit, the Certificate Administrator shall deliver such Special Notice to all Certificateholders at their respective
addresses appearing on the Certificate Register. The costs and expenses of the Certificate Administrator associated with delivering
any such Special Notice shall be borne by the party requesting such Special Notice. Every Certificateholder, by receiving and
holding a Certificate, agrees that neither the Certificate Administrator nor the Certificate Registrar shall be held accountable
by reason of the

 

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disclosure
of any such Special Notice to Certificateholders, regardless of the information set forth in such Special Notice.

 

ARTICLE
VI

 

THE
DEPOSITOR, THE SERVICER

AND THE SPECIAL SERVICERS

 

Section
6.01       Liability of the Depositor, the Servicer and the Special Servicers. The Depositor,
the Servicer and the Special Servicers each shall be liable in accordance herewith only to the extent of the obligations specifically
imposed by this Agreement.

 

Section
6.02       Merger or Consolidation of the Servicer or the Special Servicers. Subject to the
following paragraph, each of the Servicer and each Special Servicers shall keep in full effect its existence and rights as an
entity under the laws of the jurisdiction of its organization, and shall be in compliance with the laws of all jurisdictions to
the extent necessary to perform its duties under this Agreement.

 

Each
of the Servicer and each Special Servicer may be merged or consolidated with or into any Person, or transfer all or substantially
all of its assets to any Person, in which case any Person into which it may be merged or consolidated, or any Person resulting
from any merger or consolidation to which it shall be a party, or any Person succeeding to its business (including by assignment
or sale), shall be the successor of the Servicer or such Special Servicer (which, in the case of the Servicer or such Special
Servicer, may be limited to its commercial mortgage servicing business), as applicable, hereunder, and shall be deemed to have
assumed all of the liabilities and obligations of the Servicer or such Special Servicer, as applicable, hereunder, if the surviving
entity is a Qualified Replacement Servicer or Qualified Replacement Special Servicer or a Rating Agency Confirmation has been
obtained with respect to such merger or consolidation or transfer of assets and succession; provided, however, that
if the successor or surviving Person is the Servicer or a Special Servicer, as applicable, the obligation to provide a Rating
Agency Confirmation shall not apply.

 

Section
6.03       Limitation on Liability of the Depositor, the Servicer, the Special Servicers and
Others. None of the Depositor, the Servicer, the Special Servicers nor any of the directors, officers, members, managers,
shareholders, employees or agents of the Depositor, the Servicer or the applicable Special Servicer shall be under any liability
to the Trust Fund or the Certificateholders or the related Companion Loan Holders for its decision pursuant to the terms of this
Agreement to take any action, or to refrain from taking any action (or for actually taking or refraining from taking such action),
in good faith pursuant to this Agreement or for errors in judgment; provided, however, that none of the Depositor,
the Servicer, a Special Servicer nor any such Person shall be protected against any breach of its representations and warranties
made in Section 2.03 or Section 2.04, as applicable, or any liability that would otherwise be imposed
by reason of willful misfeasance, bad faith, fraud or negligence in the performance of its duties hereunder. The Depositor, the
Servicer, the applicable Special Servicer and any director, member, shareholder, manager, officer, employee or agent of the Depositor,
the Servicer or such Special Servicer may rely on any document of any kind that, prima facie, is properly executed and
submitted by any Person respecting any matters arising hereunder. The Depositor, the

 

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Servicer,
the applicable Special Servicer and any director, officer, member, manager, employee or agent of the Depositor, the Servicer or
the applicable Special Servicer shall be indemnified and held harmless by the Trust Fund against any loss, liability, claim, damage,
judgment, cost, fee, penalty, fine, forfeiture or expense (including reasonable legal fees and expenses) (i) incurred in
connection with any legal action or claim relating to this Agreement, the Whole Loans, the Companion Loans or the Certificates,
or (ii) imposed by any taxing authority (other than any tax on servicing compensation) if such loss, liability, claim, damage,
judgment, cost, fee, penalty, fine, forfeiture or expense is not specifically reimbursable pursuant to the terms of this Agreement;
provided that none of such Persons shall be entitled to such indemnification if such loss, liability, claim, damage, judgment,
cost, fee, penalty, fine, forfeiture or expense was incurred by reason of willful misfeasance, bad faith, fraud or negligence
in the performance of its duties hereunder or by reason of reckless disregard of obligations or duties hereunder, in each case
by any such Person. Any amount payable under the foregoing indemnification shall be payable solely from distributions owing hereunder
in accordance with Section 3.06. None of the Depositor, the Servicer or the Special Servicers shall be under any obligation
to appear in, prosecute or defend any legal action unless such action is related to its respective duties under this Agreement
and that in its opinion does not expose it to any expense or liability for which reimbursement is not reasonably assured. The
Depositor, the Servicer or the applicable Special Servicer may, however, in its discretion undertake any such action that it may
deem necessary or desirable with respect to this Agreement and the rights and duties of the parties hereto and the interests of
the Certificateholders hereunder. In such event, the legal expenses and costs of such action and any liability resulting therefrom
shall be expenses, costs and liabilities of the Trust Fund and the Depositor, the Servicer and such Special Servicers will be
entitled to be reimbursed therefor from the Collection Account as provided in Section 3.06.

 

Each
of the Servicer and the applicable Special Servicer, severally and not jointly, shall indemnify and hold harmless each Companion
Loan Holder from and against any loss, liability, claim, damage, judgment, cost, fee, penalty, fine, forfeiture or expense (including
reasonable legal fees and expenses) that such Companion Loan Holder may sustain in connection with this Agreement that arise out
of or are based upon the Servicer’s or the applicable Special Servicer’s, as the case may be, willful misconduct,
bad faith, fraud or negligence in the performance of its obligations and duties hereunder or by reason of negligent disregard
of its obligations and duties hereunder.

 

Section
6.04       Limitation on Resignation of the Servicer and the Special Servicers; Termination of
the Servicer and the Special Servicers. (a) Each of the Servicer and each Special Servicer may assign their respective
rights and delegate their respective duties and obligations under this Agreement, provided that: (i) the purchaser
or transferee accepting such assignment and delegation (A)  shall be consented to by the Depositor (which consent shall
be evidenced in writing and shall not be unreasonably withheld or delayed), (B) shall (in the case of a successor to the Servicer
or the applicable Special Servicer) be an established mortgage finance institution, bank or mortgage servicing institution, organized
and doing business under the laws of the United States, any state of the United States or the District of Columbia, authorized
under such laws to perform the duties of the Servicer or the applicable Special Servicer or a Person resulting from a merger,
consolidation or succession that is permitted under Section 6.02, (C) shall be acceptable to each Rating Agency
as evidenced by a Rating Agency Confirmation, (D) shall execute and deliver to the Certificate Administrator and the Trustee
an agreement, in

 

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form
and substance reasonably satisfactory to the Certificate Administrator and the Trustee (such satisfaction provided in writing),
that contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to
be performed or observed by the Servicer or the applicable Special Servicer, as the case may be, under this Agreement from and
after the date of such agreement, and (E) (x) prior to the occurrence and continuance of a Control Event, with respect to the
Servicer, is reasonably acceptable to the Directing Certificateholder or, with respect to the applicable Special Servicer, is
approved by the related Directing Certificateholder (such approval not to be unreasonably withheld), (y) after the occurrence
and during the continuance of a Control Event but so long as no Consultation Termination Event is continuing, the successor is
reasonably acceptable to the Directing Certificateholder, the Depositor and the Trustee and (z) after a Consultation Termination
Event, is reasonably acceptable to the Depositor and the Trustee; (ii) the Servicer or the applicable Special Servicer, as
the case may be, shall not be released from its obligations under this Agreement that arose prior to the effective date of such
assignment and delegation under this Section 6.04; (iii) the rate at which the Servicing Compensation or Special
Servicing Fee, as applicable (or any component thereof) is calculated shall not exceed the rate then in effect; and (iv) the
Servicer or the applicable Special Servicer (or such successor Person), as applicable, pays all costs and expenses in connection
with such transfer. Upon acceptance of such assignment and delegation, the purchaser or transferee shall be the successor Servicer
or applicable Special Servicer, as applicable, hereunder.

 

(b)           
The Servicer or a Special Servicer may resign from its obligations and duties hereby imposed on it upon determination that such
duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any
other activities carried on by it. Any such determination permitting the resignation of the Servicer or a Special Servicer, as
applicable, shall be evidenced by an Opinion of Counsel (obtained at the resigning Servicer’s or Special Servicer’s
sole and unreimbursable expense) to such effect delivered to the Trustee, the Certificate Administrator, and, so long as no Consultation
Termination Event is continuing, the Directing Certificateholder. In addition, the Servicer and either Special Servicers will
each have the right to resign at any other time; provided that the conditions set forth in the proviso to Section 6.04(a)
are satisfied and a proposed successor agrees to accept the same or lower compensation. In connection with any such resignation,
the successor Special Servicer shall either (i) prior to a Control Event, be appointed by the Directing Certificateholder in accordance
with Section 7.01; or (ii) after a Control Event, be appointed by the Trustee and otherwise satisfy the requirements for
a successor Special Servicer set forth in the proviso to Section 6.04(a).

 

(c)           
No such resignation or assignment of the Servicer or a Special Servicer under this Section 6.04 shall be effective
unless and until (i) the Servicer or such Special Servicer has been paid any unpaid Servicing Compensation or Special Servicing
Fee, as applicable, unreimbursed Advances (including Advance Interest Amounts thereon to which it is entitled) and all other amounts
to which the Servicer or such Special Servicer is entitled hereunder to the extent such amounts accrue prior to such effective
date and (ii) with respect to a resignation or assignment by the Servicer, the successor Servicer has deposited into the
Collection Account from which amounts were withdrawn to reimburse the resigning or assigning Servicer, an amount equal to the
amounts so withdrawn, to the extent such amounts would not have been permitted to be withdrawn except pursuant to this paragraph,
in which case the

 

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successor
Servicer shall, immediately upon deposit, have the same right of reimbursement or payment as the resigning or assigning Servicer
had immediately prior to its resignation or assignment without regard to the operation of this paragraph.

 

(d)           
No resignation or removal of the Servicer or a Special Servicer as contemplated by Section 6.04(b) shall become effective
until the conditions precedent specified in Section 6.04(a) shall have been satisfied. The Trustee or any successor
Servicer or Special Servicer under this Agreement will be entitled to the compensation to which the Servicer or applicable Special
Servicer would have been entitled (but not to any compensation earned and due to the departing Servicer or Special Servicer).
If no successor Servicer or Special Servicer can be obtained to perform such obligations for the same compensation to which the
resigning or assigning Servicer or Special Servicer would have been entitled, additional amounts payable to such successor Servicer
or Special Servicer shall be treated as Realized Losses.

 

Section
6.05       Rights of the Depositor in Respect of the Servicer and the Special Servicers.
The Servicer and the Special Servicers shall afford the Depositor, upon reasonable notice, during normal business hours access
to all non-confidential, non-proprietary records, including those in electronic form, documentation, records or any other information
regarding the Mortgage Loans that are in its possession or control hereunder and access to its officers responsible therefor.
None of the Depositor, the Certificate Administrator or the Trustee shall not have any responsibility or liability for any action
or failure to act by the Servicer or a Special Servicer. The Depositor is not obligated to monitor or supervise the performance
of a Servicer, the Special Servicers, the Certificate Administrator or the Trustee under this Agreement or otherwise. The Depositor
may, but is not obligated to enforce the obligations of the Servicer or the Special Servicers under this Agreement and is not
obligated to perform or cause a designee to perform any defaulted obligation of the Servicer or the applicable Special Servicer
or exercise any right of the Servicer or the applicable Special Servicer under this Agreement. If the Depositor undertakes any
such action, it will be reimbursed by the Trust Fund from the Collection Account to the extent not recoverable from the Servicer
or the applicable Special Servicer, as applicable. Any such action by the Depositor shall not relieve the Servicer or a Special
Servicer of its obligations under this Agreement.

 

Section
6.06       Servicer or Special Servicer as Owner of a Certificate. The Servicer, a Special
Servicer or any Affiliate thereof may become the Holder of (or, in the case of a Book Entry Certificate, Beneficial Owner with
respect to) any Certificate with (except as otherwise set forth in the definition of “Certificateholder”) the
same rights it would have if it were not the Servicer, a Special Servicer or an Affiliate thereof.

 

Section
6.07      Confidential and Proprietary Information. Neither the Servicer nor a Special Servicer
shall be under any obligation to disclose any information that was not acquired by the Servicer or such Special Servicer as the
servicer of one or both Mortgage Loans. Neither the Servicer nor a Special Servicer shall be under any obligation to disclose
any information related to its servicing data base, products developed in connection with its loan servicing activities or any
similar proprietary information.

 

Section
6.08       Rating Agency Fees. The Depositor shall pay, from its own funds, the annual fees
of each Rating Agency.

 

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ARTICLE
VII

 

DEFAULT

 

Section
7.01       Termination Events. (a) “Servicer Termination Event,”
wherever used herein, means any one of the following events:

 

                            (i)             
any failure by the Servicer to remit to the Collection Account or any failure by the Servicer to remit to the Certificate Administrator
for deposit into the Lower-Tier Distribution Account any amount required to be so remitted by the Servicer pursuant to, and at
the time specified by the terms of this Agreement, and such failure continues unremedied until 4:00 p.m. (New York City time),
with respect to amounts required to be remitted to the Collection Account, and 11:00 a.m. (New York City time), with respect
to amounts required to be remitted to the Certificate Administrator for deposit into the applicable Distribution Account on the
next Business Day after the date on which the remittance was due; provided, however, that if the Servicer fails
to make any remittance so required, to be made by the Servicer on the Servicer Remittance Date (without regard to any grace period),
the Servicer shall pay to the Certificate Administrator, for the account of the Certificate Administrator, interest on such late
remittance at the Current bank rate from and including the date such remittance was required to be made to but excluding the Distribution
Date; or

 

                             (ii)            
any failure on the part of the Servicer to observe or perform in any material respect any other of the covenants or agreements
of the Servicer under this Agreement or the material breach of any representations or warranties on the part of the Servicer contained
in this Agreement that continues unremedied for a period of 30 days (or 60 days, so long as the Servicer is in good
faith diligently pursuing a cure) after the date on which written notice of such failure, requiring the same to be remedied, shall
have been given to the Servicer by the Depositor, the Certificate Administrator or the Trustee, or to the Servicer, the Depositor,
the Certificate Administrator and the Trustee by the holders of Certificates evidencing Percentage Interests of at least 25% of
any affected Class; or

 

                             (iii)           
[Reserved]; or

 

                             (iv)           
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law or for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding up or liquidation of its affairs, shall have been entered against the Servicer and such decree or order shall have remained
in force undischarged or unstayed for a period of 60 days; or

 

                             (v)            
the Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to the Servicer, or of or relating to all or substantially
all of its property; or

 

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

 

                             (vii)         
the Servicer shall fail to make any Servicing Advance or Administrative Advance required to be made by the Servicer hereunder
(whether or not the Trustee makes such Advance), which failure continues unremedied for a period of 15 days after the date on
which such Servicing Advance or Administrative Advance was first due (or for any shorter period (not less than 1 Business Day)
as may be required, if applicable, to avoid any lapse in insurance coverage required under any Mortgage or Loan Agreement or this
Agreement with respect to any Mortgaged Property or to avoid any foreclosure or similar action with respect to any Mortgaged Property
by reason of a failure to pay real estate taxes and assessments); or

 

                             (viii)        
the Servicer is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer in connection
therewith and the Servicer is not reinstated to such status on such list within sixty (60) days; or

 

                             (ix)          
either (A) the Servicer ceases to have a master servicer ranking of at least “MOR CS3” as a master servicer from Morningstar
(if the Servicer has or had a Morningstar ranking on or after the Closing Date) or (B) if the Servicer has not been ranked by
Morningstar on or after the Closing Date, Morningstar has (i) qualified, downgraded or withdrawn its rating or ratings of one
or more Classes of Certificates or (ii) within the prior 12 months, placed one or more Classes of Certificates on “watch
status” in contemplation of a rating downgrade or withdrawal and, in the case of either of clauses (i) or (ii), has publicly
cited servicing concerns with the Servicer as the sole factor in such rating action (and such qualification, downgrade, withdrawal
or “watch status” placement has not been withdrawn by Morningstar within 60 days of such event);

 

                         
   (x)            if any rating agency that was engaged
by a participant in any securitization of such Companion Loan to assign a rating to the related Companion Loan securities (a “Companion
Loan Rating Agency”) has (A) qualified, downgraded or withdrawn its rating or ratings of one or more classes of
Companion Loan securities, or (B) placed one or more classes of Companion Loan securities on “watch status” in
contemplation of a rating downgrade or withdrawal and, in the case of either of clauses (A) or (B), citing servicing concerns
with the Servicer as the sole or material factor in such rating action (and such qualification, downgrade, withdrawal or “watch
status” placement has not been withdrawn by such Companion Loan Rating Agency within 60 days of such event); or

 

                      
      (xi)           so long as any Other Securitization
Trust is subject to Exchange Act reporting requirements, the Servicer or a primary servicer, subservicer or servicing function
participant (such entity, the “Sub-Servicing Entity”) retained by the Servicer fails to deliver the items required
to be delivered by this Agreement to enable such Other Securitization Trust to comply with its reporting obligations under the
Exchange Act within the time set forth for such delivery in Article XII, including any applicable grace

 

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periods
(and any Sub-Servicing Entity that defaults in accordance with this clause (xi) will be terminated at the direction of
the Depositor).

 

then,
and in each and every such case, so long as a Servicer Termination Event shall not have been remedied, the Trustee may, and at
the written direction of the Holders of Regular Certificates (taking into account the application of the Appraisal Reduction amounts
to notionally reduce the Certificate Balances of the Certificates) shall, terminate the Servicer.

 

(b)           
“Special Servicer Termination Event”, wherever used herein, means any one of the following events:

 

                             (i)           
any failure by a Special Servicer to remit to the Collection Account any amount required to be so remitted by such Special Servicer
pursuant to and at the time specified by the terms of this Agreement, and such failure continues unremedied until 1:00 p.m.
(New York City time) on the next Business Day after the date on which the remittance was due; or

 

                             (ii)          
any failure on the part of a Special Servicer to observe or perform in any material respect any other of the covenants or agreements
of such Special Servicer under this Agreement or the material breach of any representations or warranties on the part of such
Special Servicer contained in this Agreement that continues unremedied for a period of 30 days (or 60 days, so long
as such Special Servicer is in good faith diligently pursuing a cure) after the date on which written notice of such failure,
requiring the same to be remedied, shall have been given to such Special Servicer by the Servicer, the Depositor, the Certificate
Administrator or the Trustee, or to such Special Servicer, the Servicer, the Depositor, the Certificate Administrator and the
Trustee by the holders of Certificates evidencing Percentage Interests of at least 25% of any affected Class; or

 

                             (iii)         
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law or for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding up or liquidation of its affairs, shall have been entered against the applicable Special Servicer and such decree or order
shall have remained in force undischarged or unstayed for a period of 60 days; or

 

                             (iv)         
a Special Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment
of debt, marshaling of assets and liabilities or similar proceedings of or relating to such Special Servicer, or of or relating
to all or substantially all of its property; or

 

                             (v)          
a Special Servicer fails to pay its debts when due, or shall admit in writing its inability to pay its debts generally as they
become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the
benefit of its creditors, or voluntarily suspend payment of its obligations; or

 

                             (vi)         
[Reserved]; or

 

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                                (vii)          
a Special Servicer is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer
in connection therewith and such Special Servicer is not reinstated to such status on such list within sixty (60) days;

 

                                (viii)         
either (A) a Special Servicer ceases to have a special servicer ranking of at least “MOR CS3” as a special servicer
from Morningstar (if such Special Servicer has or had a Morningstar ranking on or after the Closing Date) or (B) if the Special
Servicer has not been ranked by Morningstar on or after the Closing Date, Morningstar has (i) qualified, downgraded or withdrawn
its rating or ratings of one or more Classes of Certificates or (ii) within the prior 12 months, placed one or more Classes of
Certificates on “watch status” in contemplation of a rating downgrade or withdrawal and, in the case of either of
clauses (i) or (ii), has publicly cited servicing concerns with such Special Servicer as the sole factor in such rating action
(and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by Morningstar within
60 days of such event);

 

then,
and in each and every such case, so long as a Special Servicer Termination Event shall not have been remedied, the Trustee may,
and at the written direction of the Holders of Regular Certificates (taking into account the application of the Appraisal Reduction
amounts to notionally reduce the Certificate Balances of the Certificates) shall, terminate such Special Servicer. Notwithstanding
the foregoing, if any Special Servicer Termination Event shall occur and be continuing that affects the holder of a Companion
Loan, then, so long as the applicable Special Servicer is not otherwise terminated, the holder of such Companion Loan or the trustee
appointed under the related pooling and servicing agreement, as applicable, shall be entitled to direct the Trustee to terminate
such Special Servicer with respect to the related Whole Loan. Any Special Servicer appointed to replace the applicable Special
Servicer with respect to a Mortgage Loan cannot at any time (without the prior written consent of the holder of such Companion
Loan) be the person (or an Affiliate thereof) that was terminated at the direction of the holder of the related Companion Loan.
Any such Special Servicer under this paragraph shall meet the eligibility requirements of Section 7.02 and the eligibility
requirements of the related pooling and servicing agreement, and the appointment thereof shall comply with the provisions of Section
7.02. Any appointment of a replacement Special Servicer in accordance with this paragraph shall be subject to the receipt
of Rating Agency Confirmation and confirmation from the rating agencies that such appointment or replacement will not result in
the downgrade, withdrawal or qualification of the then-current ratings of any class of any related Companion Loan Securities (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.31);

 

                                (ix)           
if any rating agency that was engaged by a participant in any securitization of such Companion Loan to assign a rating to the
related Companion Loan securities (a “Companion Loan Rating Agency”) has (A) qualified, downgraded or
withdrawn its rating or ratings of one or more classes of Companion Loan securities, or (B) placed one or more classes of
Companion Loan securities on “watch status” in contemplation of a rating downgrade or withdrawal and, in the case
of either of clauses (A) or (B), citing servicing concerns with the applicable Special Servicer as the sole or material factor
in such rating action (and such qualification, downgrade, withdrawal or “watch status”

 

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placement
has not been withdrawn by such Companion Loan Rating Agency within 60 days of such event); or

 

                            (x)            
so long as any Other Securitization Trust is subject to Exchange Act reporting requirements, the applicable Special Servicer or
a primary servicer, subservicer or servicing function participant (such entity, the “Sub-Servicing Entity”)
retained by such Special Servicer fails to deliver the items required to be delivered by the Pooling and Servicing Agreement to
enable such Other Securitization Trust to comply with its reporting obligations under the Exchange Act within 5 Business Days
of such failure hereunder (and any Sub-Servicing Entity that defaults in accordance with this clause (viii) will be terminated
at the direction of the Depositor).

 

(c)           
After the occurrence and during the occurrence of a Control Event with respect to each Mortgage Loan, upon (a) the written
direction of holders of Pooled Principal Balance Certificates evidencing not less than 25% of the Voting Rights (taking into account
the application of any Appraisal Reductions to notionally reduce the Certificate Balances of the Certificates pursuant to Section 4.08(b)
hereof) of the Pooled Principal Balance Certificates to request a vote to replace a Special Servicer with a new special servicer
designated in such written direction, (b) payment by such holders to the Certificate Administrator of the reasonable fees
and expenses (including any legal fees and any Rating Agency fees and expenses) to be incurred by the Certificate Administrator
in connection with administering such vote and which will not be additional Trust Fund expenses, (c) delivery by such holders
to the Certificate Administrator of Rating Agency Confirmation from each Rating Agency (which Rating Agency Confirmation shall
be obtained at the expense of such holders) and (d) delivery by such holders to the certificate administrator (if any) and the
trustee for each Other Securitization Trust (with a copy to the Certificate Administrator and the Trustee) of a Companion Loan
Rating Agency Confirmation with respect to the appointment of such new special servicer (which Companion Loan Rating Agency Confirmation
shall be obtained at the expense of such holders), the Certificate Administrator shall promptly post notice to all Certificateholders
of such request on the Certificate Administrator’s Website in accordance with Section 8.13 and by mail, and
conduct the solicitation of votes of all Certificates in such regard. Upon the written direction of holders of Principal Balance
Certificates evidencing at least 75% of the Voting Rights of a Certificateholder Quorum, which must be received within 180 days
of the date the Certificate Administrator posted such request, the Certificate Administrator shall notify the Trustee and the
Trustee shall terminate all of the rights and obligations of the applicable Special Servicer under this Agreement and appoint
the successor Special Servicer (which must be a Qualified Replacement Special Servicer) designated by such Certificateholders.
The Certificate Administrator shall include on each Statement to Certificateholders a statement that each Certificateholder may
(i) access such notices via the Certificate Administrator’s Website and (ii) register to receive electronic mail
notifications when such notices are posted thereon.

 

No
penalty or fee shall be payable to the terminated Special Servicer with respect to any termination pursuant to this Section 7.01(c).

 

(d)           
If the Servicer or a Special Servicer is terminated pursuant to this Section 7.01, the Trustee (the “Terminating
Party”) shall, by notice in writing to the Servicer or such Special Servicer, as the case may be (the “Terminated
Party”), terminate all of its rights and

 

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obligations
under this Agreement (subject to Section 7.01(d)) and in and to the Trust Fund, the Mortgage Loans and the proceeds
thereof, other than any rights it may have hereunder as a Certificateholder and any rights or obligations that accrued prior to
the date of such termination (including the right to receive all amounts accrued or owing to it under this Agreement, plus Advance
Interest Amounts on such amounts until received to the extent such amounts bear interest as provided in this Agreement, with respect
to periods prior to the date of such termination and the right to the benefits of Section 6.03 notwithstanding any
such termination). On or after the receipt by the Terminated Party of such written notice, all of its authority and power under
this Agreement, whether with respect to the Certificates (except that the Terminated Party shall retain its rights as a Certificateholder
if and to the extent that it is a Certificateholder) or the Mortgage Loans or otherwise, shall pass to and be vested in the Terminating
Party pursuant to and under this Section and, without limitation, the Terminating Party is hereby authorized and empowered to
execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney in fact or otherwise, any and all documents
and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such
notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents,
or otherwise. The Servicer and each Special Servicer agrees that if it is terminated pursuant to this Section 7.01
to promptly (and in any event no later than 10 Business Days subsequent to such notice) provide, at its own expense, the Terminating
Party with all documents and records requested by the Terminating Party to enable the Terminating Party to assume its functions
hereunder, and to cooperate with the Terminating Party and the successor to its responsibilities hereunder in effecting the termination
of its responsibilities and rights hereunder, including, without limitation, the transfer to the successor Servicer or Special
Servicer or the Terminating Party, as applicable, for administration by it of all cash amounts that shall at the time be or should
have been credited by the Servicer or the applicable Special Servicer to the Collection Account, and any REO Account, Lock Box
Account or Cash Collateral Account with respect to the Mortgage Loans, and shall promptly provide the Terminating Party or such
successor Servicer or Special Servicer (which may include the Trustee), as applicable, all documents and records reasonably requested
by it, such documents and records to be provided in such form as the Terminating Party or such successor Servicer or Special Servicer
shall reasonably request (including electromagnetic form) to enable it to assume the Servicer’s or the applicable Special
Servicer’s function hereunder. All reasonable out of pocket costs and expenses of the Terminating Party or the successor
Servicer or successor Special Servicer incurred in connection with transferring the Mortgage Files to the successor Servicer or
Special Servicer and amending this Agreement to reflect such succession as successor Servicer or successor Special Servicer pursuant
to this Section 7.01 shall be paid solely by the predecessor Servicer or the related predecessor Special Servicer,
as applicable, without any right to reimbursement therefor, upon presentation of reasonable documentation of such costs and expenses.
If the predecessor Servicer or the related predecessor Special Servicer (as the case may be) has not reimbursed the Terminating
Party or the successor Servicer or Special Servicer for such expenses within 90 days after the presentation of reasonable
documentation, such expense shall be reimbursed by the Trust Fund (to be allocated as provided in Section 4.01(h));
provided that the Terminated Party shall not thereby be relieved of its liability for such expenses. If and to the extent
that the Terminated Party has not reimbursed such costs and expenses, the Terminating Party shall have an affirmative obligation
to take all reasonable actions to collect such expenses on behalf of the Trust Fund.

 

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(e)            
If the Servicer is terminated because of the events specified in Section 7.01(a)(viii) or (ix), and the terminated
Servicer provides the Trustee with the appropriate “request for proposal” materials within five (5) Business Days
after such termination, then such Servicer shall continue to serve as Servicer, and the Trustee shall promptly thereafter (using
such “request for proposal” materials provided by the terminated Servicer) solicit good faith bids for the rights
to master service the Mortgage Loans from at least three (3) Persons qualified to act as successor servicer hereunder in accordance
with Section 6.04 and Section 7.02 for which the Trustee has received Rating Agency Confirmation (any
such Person so qualified, a “Qualified Bidder”) or, if three (3) Qualified Bidders cannot be located, then
from as many Persons as the Trustee can determine are Qualified Bidders; provided, however, that (i) at the Trustee’s
request, the terminated Servicer shall supply the Trustee with the names of Persons from whom to solicit such bids; and (ii) the
Trustee shall not be responsible if less than three (3) or no Qualified Bidders submit bids for the right to master service the
Mortgage Loans under this Agreement. The bid proposal shall require any Successful Bidder (as defined below), as a condition of
such bid, to enter into this Agreement as successor servicer with respect to the Mortgage Loans, and to agree to be bound by the
terms hereof, within forty-five (45) days after the receipt by the terminated Servicer of a notice of termination. The Trustee
shall solicit bids (i) on the basis of such successor servicer entering into a sub-servicing agreement with the terminated Servicer
to service the Mortgage Loans at a sub-servicing fee rate per annum equal to the Servicing Fee Rate minus 0.0025% per
annum (each, a “Servicing-Retained Bid”) and (ii) on the basis of having no obligation to enter into a
sub-servicing agreement with the terminated Servicer (each, a “Servicing-Released Bid”). The Trustee shall
select the Qualified Bidder with the highest cash Servicing-Retained Bid (or, if none, the highest cash Servicing-Released Bid)
(the “Successful Bidder”) to act as successor servicer hereunder. The Trustee shall direct the Successful Bidder
to enter into this Agreement as successor servicer pursuant to the terms hereof (and, if the successful bid was a Servicing-Retained
Bid, to enter into a sub-servicing agreement with the terminated Servicer as contemplated above), no later than forty-five (45)
days after the termination of the terminated Servicer. Upon the assignment and acceptance of the servicing rights hereunder to
and by the Successful Bidder, the Certificate Administrator shall remit or cause to be remitted to the terminated Servicer the
amount of such cash bid received from the Successful Bidder (net of “out of pocket” expenses incurred in connection
with obtaining such bid and transferring servicing).

 

(f)            
Prior to the occurrence and continuance of a Control Event, the Directing Certificateholder shall have the right to direct the
Trustee to terminate the applicable Special Servicer (subject to such terminated Special Servicer’s rights to indemnification,
payment of outstanding fees, and other rights set forth in this Agreement which survive termination) at any time, with or without
cause, and the Directing Certificateholder shall have the right to, and shall, appoint a successor Special Servicer who shall
execute and deliver to the other parties hereto an agreement, in form and substance reasonably satisfactory to the Trustee, whereby
the successor Special Servicer agrees to assume and perform punctually the duties of the Special Servicer specified in this Agreement;
provided that the Trustee shall have received a Rating Agency Confirmation from each Rating Agency prior to the termination
of the applicable Special Servicer. A Special Servicer shall not be terminated pursuant to this paragraph until a successor Special
Servicer shall have been appointed. The Directing Certificateholder shall pay any costs and expenses incurred by the Trustee or
the Trust in connection with the removal and appointment of a Special Servicer pursuant to this paragraph (unless such removal
is based on

 

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any
of the events or circumstances set forth in Section 7.01(b)). Notwithstanding anything to the contrary in this Agreement,
no successor Special Servicer appointed by the Directing Certificateholder (including, without limitation, an initial Special
Servicer) pursuant to Section 6.04 or this Section 7.01(f) or otherwise pursuant to this Agreement shall be required
to meet any independent net worth or similar financial covenant; provided, however, that notwithstanding the foregoing,
any successor Special Servicer shall satisfy any Rating Agency conditions set forth in the Rating Agency Confirmation delivered
by such Rating Agency with respect to such successor Special Servicer and any other conditions as set forth in this Agreement.

 

Section
7.02       Trustee to Act; Appointment of Successor. On and after the time the Servicer or
the applicable Special Servicer receives a notice of termination pursuant to Section 7.01, the Terminating Party shall
be its successor in all respects in its capacity as Servicer and/or Special Servicer under this Agreement and the transactions
set forth or provided for herein and, except as provided herein, shall be subject to all the responsibilities, duties, limitations
on liability, and liabilities relating thereto and arising thereafter imposed on the Servicer and/or the applicable Special Servicer
by the terms and provisions of this Agreement; provided, however, that (i) the Terminating Party shall have
no responsibilities, duties, liabilities or obligations with respect to any act or omission of the Servicer or the applicable
Special Servicer (provided that such Terminating Party shall not be relieved of any duty hereunder to act in the Servicer’s
or the applicable Special Servicer’s stead) and (ii) any failure to perform, or delay in performing, such duties or
responsibilities caused by the Terminated Party’s failure to provide, or delay in providing, records, tapes, disks, information
or monies shall not be considered a default by such successor hereunder. The Trustee, as successor Servicer or successor Special
Servicer, shall be indemnified to the full extent provided to the Servicer or the applicable Special Servicer, as applicable,
under this Agreement prior to the Servicer’s or such Special Servicer’s termination. The appointment of a successor
Servicer or successor Special Servicer shall not affect any liability of the predecessor Servicer or related predecessor Special
Servicer that may have arisen prior to its termination as Servicer or as Special Servicer. The Terminating Party shall not be
liable for any of the representations and warranties of the Servicer or applicable Special Servicer herein or in any related document
or agreement, for any acts or omissions of the predecessor Servicer or the related predecessor Special Servicer or for any losses
incurred in respect of any Permitted Investment by the Servicer pursuant to Section 3.07 hereunder nor shall the Trustee
be required to purchase any Mortgage Loan hereunder. As compensation therefor, the Terminating Party as successor Servicer or
Special Servicer shall be entitled to the Servicing Compensation or Special Servicing Compensation, as applicable, and all funds
relating to the Mortgage Loans that accrue after the date of the Terminating Party’s succession to which the Servicer or
applicable Special Servicer would have been entitled if the Servicer or such Special Servicer, as applicable, had continued to
act hereunder; provided, however, that the terminated Special Servicer will continue to be entitled to receive Workout
Fees and Liquidation Fees pursuant to this Agreement. If any Advances made by the Servicer or the Trustee shall at any time be
outstanding, or any Advance Interest Amounts shall have accrued and remain unpaid, all amounts available to repay Advances and
Advance Interest Amounts shall be applied entirely to the Advances made by the Trustee (and the accrued and unpaid Advance Interest
Amounts thereon) and then to the Servicer, in that order, until such Advances and Advance Interest Amounts shall have been repaid
in full. Notwithstanding the above, if the Trustee shall be unwilling to so act, or if the Trustee is unable to so act, or during
the continuance of a Control Event if the Certificateholders entitled to at least 50% of the

 

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aggregate
Voting Rights (taking into account the application of the Appraisal Reductions to notionally reduce the Certificate Balances of
the Certificates) so request in writing to the Trustee, or if the long term unsecured debt rating of the Trustee is not at least
“AA” by S&P, or if the Rating Agencies do not provide Rating Agency Confirmation with respect to the succession
of the Trustee as Servicer or as a Special Servicer, as the case may be, the Trustee must promptly appoint, or petition a court
of competent jurisdiction to appoint, any established mortgage loan servicing institution as the successor to the Servicer or
the applicable Special Servicer, as applicable, hereunder in the assumption of all or any part of the responsibilities, duties
or liabilities of the Servicer or such Special Servicer hereunder. No appointment of a successor to the Servicer or the applicable
Special Servicer hereunder shall be effective until the assumption by such successor of all the Servicer’s or such Special
Servicer’s responsibilities, duties and liabilities hereunder that arise thereafter and upon receipt of Rating Agency Confirmation
from each Rating Agency. Pending appointment of a successor to the Servicer (and the Special Servicer if the Special Servicer
is also the Servicer) hereunder, unless the Trustee shall be prohibited by law from so acting, the Trustee shall act in such capacity
as herein above provided. Pending the appointment of a successor to the applicable Special Servicer, unless the Servicer is also
the Special Servicer, the Servicer shall act in such capacity. Any appointment or succession by the Trustee to the rights and
obligations of the applicable Special Servicer hereunder shall be subject to the Directing Certificateholder’s right to
replace such Special Servicer prior to the occurrence and continuance of a Control Event. In connection with such appointment
and assumption described herein, the Trustee may make such arrangements for the compensation of such successor out of payments
on Mortgage Loans as it and such successor shall agree (subject to the rights of the applicable Special Servicer to receive Workout
Fees and Liquidation Fees as provided in this Section 7.02); provided, however, that no such compensation
shall be in excess of that permitted the Terminated Party hereunder unless consented to by the holders of Certificates evidencing
at least 66-2/3% of the aggregate Voting Rights, provided, further, that if no successor to the Terminated Party
can be obtained to perform the obligations of such Terminated Party hereunder, additional amounts shall be paid to such successor
and such amounts in excess of that permitted the Terminated Party shall be treated as Additional Trust Fund Expenses. The Depositor,
the Trustee, the Certificate Administrator, the Servicer or applicable Special Servicer and such successor shall take such action,
consistent with this Agreement, as shall be necessary to effectuate any succession to the Servicer or such Special Servicer.

 

Notwithstanding
the foregoing, if a Servicer Termination Event on the part of the Servicer or the applicable Special Servicer affects only a Companion
Loan, any holder thereof or the rating on a class of related Companion Loan Securities, then the Servicer or such Special Servicer,
as applicable may not be terminated at the direction of the holders of any Certificates (acting in such capacity).

 

Section
7.03       Notification to Certificateholders. Upon any termination pursuant to Section 7.01
above or appointment of a successor to the Servicer or the applicable Special Servicer, the Trustee shall give prompt written
notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register, and to each Rating Agency.

 

Within
30 days after the occurrence of any Termination Event of which a Responsible Officer of the Trustee has actual knowledge,
the Trustee shall transmit by mail to all

 

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Certificateholders
and each Rating Agency notice of such Termination Event, unless such Termination Event shall have been cured or waived pursuant
to Section 7.05.

 

Section
7.04       Other Remedies of Trustee. During the continuance of any Servicer Termination
Event or a Special Servicer Termination Event, so long as such Servicer Termination Event or Special Servicer Termination Event,
if applicable, shall not have been remedied, the Trustee, in addition to the rights specified in Section 7.02, shall
have the right, in its own name as trustee of an express trust, to take all actions now or hereafter existing at law, in equity
or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and other proceedings and the filing of proofs of claim
and debt in connection therewith). In such event, the reasonable legal fees, expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust Fund, and the Trustee shall be entitled to be reimbursed
therefor from the Collection Account as provided in Section 3.06. Except as otherwise expressly provided in this Agreement,
no remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative
and in addition to any other remedy and no delay or omission to exercise any right or remedy shall impair any such right or remedy
or shall be deemed to be a waiver of any Servicer Termination Event or Special Servicer Termination Event.

 

Section
7.05       Waiver of Past Events of Default; Termination. Certificateholders possessing not
less than 66-2/3% of the aggregate Voting Rights of the Certificates other than any Certificates held by the Servicer or a Special
Servicer, as the case may be, may, on behalf of all Certificateholders, waive any default by the Servicer or a Special Servicer,
as the case may be, in the performance of its obligations hereunder and its consequences, except a default in making any required
deposits (including Monthly Advances) to or payments from the Collection Account, the Distribution Account or the Lower-Tier Distribution
Account or in remitting payments as received, in each case in accordance with this Agreement. Upon any such waiver of a past default,
such default shall cease to exist, and any Termination Event arising therefrom shall be deemed to have been remedied for every
purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

 

ARTICLE
VIII

 

CONCERNING
THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR

 

Section
8.01       Duties of Trustee and the Certificate Administrator. (a) Each of the Trustee
and the Certificate Administrator, prior to the occurrence of a Termination Event of which a Responsible Officer of the Trustee
or the Certificate Administrator has actual knowledge and after the curing or waiver of all Termination Events that may have occurred,
undertakes to perform such duties and only such duties as are specifically set forth in this Agreement and no permissive right
of the Trustee or the Certificate Administrator shall be construed as a duty. During the continuance of a Termination Event of
which a Responsible Officer of the Trustee or the Certificate Administrator has actual knowledge, the Trustee or Certificate Administrator,
as applicable, subject to the provisions of Sections 7.02 and 7.04 shall exercise such of the rights and powers
vested in it by this Agreement, and use the same degree of care and skill in their exercise, as a prudent person would exercise
or use under the circumstances in the conduct of

 

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such
person’s own affairs. The Trustee (or the Servicer or the applicable Special Servicer on its behalf) shall have the power
to exercise all the rights of a holder of a Whole Loan on behalf of the Certificateholders and the related Companion Loan Holders,
subject to the terms of the Mortgage Loan Documents and the related Co-Lender Agreement; provided, however, that
the applicable lender’s obligations under the Mortgage Loan Documents shall be exercised by the Servicer or such Special
Servicer, as the case may be, pursuant to this Agreement.

 

(b)           
Each of the Trustee and the Certificate Administrator, upon receipt of any resolutions, certificates, statements, opinions, reports,
documents, orders or other instruments furnished to the Trustee or the Certificate Administrator that are specifically required
to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform on their face
to the requirements of this Agreement; provided, however, that neither the Certificate Administrator nor the Trustee
shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document,
order or other instrument provided to it hereunder. If any such instrument is found not to conform on its face to the requirements
of this Agreement in a material manner, the Trustee and the Certificate Administrator shall take action as it deems appropriate
to have the instrument corrected, and if the instrument is not corrected to the Trustee’s or the Certificate Administrator’s
reasonable satisfaction, the Trustee or the Certificate Administrator, as applicable, will provide notice thereof to the Certificateholders.

 

(c)           
Neither the Trustee, the Certificate Administrator nor any of their officers, directors, employees, agents or “control”
persons within the meaning of the Securities Act shall have any liability arising out of or in connection with this Agreement;
provided that, subject to Section 8.02, no provision of this Agreement shall be construed to relieve the Trustee
or Certificate Administrator, or any such person, from liability for its own negligent action, its own negligent failure to act
or its own willful misconduct or its own bad faith or fraud; and provided, further, that:

 

                            (i)            
Prior to the occurrence of a Termination Event of which a Responsible Officer of the Trustee or Certificate Administrator has
actual knowledge, and after the curing or waiver of all such Termination Events that may have occurred, the duties and obligations
of the Trustee and Certificate Administrator shall be determined solely by the express provisions of this Agreement, each of the
Trustee and the Certificate Administrator shall not be liable except for the performance of such duties and obligations as are
specifically set forth in this Agreement, no implied covenants or obligations shall be read into this Agreement against the Trustee
or the Certificate Administrator and, in the absence of bad faith on the part of the Trustee or the Certificate Administrator,
the Trustee and the Certificate Administrator may conclusively rely, as to the truth of the statements and the correctness of
the opinions expressed therein, upon any resolutions, certificates, statements, reports, opinions, documents, orders or other
instruments furnished to the Trustee and/or the Certificate Administrator that conform on their face to the requirements of this
Agreement without responsibility for investigating the contents thereof;

 

                            (ii)            
neither the Trustee nor the Certificate Administrator shall be personally liable for an error of judgment made in good faith by
a Responsible Officer or

 

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Responsible
Officers, unless it shall be proved that the Trustee or the Certificate Administrator was negligent in connection therewith;

 

                            (iii)        
neither the Trustee nor the Certificate Administrator shall be personally liable with respect to any action taken, suffered or
omitted to be taken by it in good faith in accordance with the direction of Certificateholders entitled to greater than 25% of
the Percentage Interests (or such other percentage as is specified herein) of each affected Class, or of the aggregate Voting
Rights of the Certificates, relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee or the Certificate Administrator, or exercising any trust or power conferred upon the Trustee or the Certificate Administrator,
under this Agreement;

 

                            (iv)        
None of the Trustee, the Certificate Administrator or any of their respective directors, officers, employees, agents or control
persons shall be responsible for any act or omission of any Custodian or Certificate Registrar that is not an Affiliate of the
Trustee or the Certificate Administrator, as applicable, and that is selected other than by the Trustee or the Certificate Administrator,
performed or omitted in compliance with any custodial or other agreement, or any act or omission of the Servicer, a Special Servicer,
the Depositor or any other Person, including, without limitation, in connection with actions taken pursuant to this Agreement;

 

                            (v)         
Neither the Trustee nor the Certificate Administrator shall be under any obligation to appear in, prosecute or defend any legal
action that is not incidental to its respective duties as Trustee or Certificate Administrator in accordance with this Agreement
(and, if it does, all reasonable legal expenses and costs of such action shall be expenses and costs of the Trust Fund), and each
of the Trustee and the Certificate Administrator shall be entitled to be reimbursed therefor from the Collection Account, unless
such legal action arises out of the negligence or bad faith of the Trustee or the Certificate Administrator or any breach of an
obligation, representation, warranty or covenant of the Trustee or the Certificate Administrator contained herein;

 

                            (vi)        
Neither the Trustee nor the Certificate Administrator shall be charged with knowledge of any act, failure to act or breach of
any Person (other than its own Affiliates and employees) upon the occurrence of which the Trustee or the Certificate Administrator
may be required to act, unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable, obtains actual
knowledge of such failure or unless any such failure to have knowledge was caused by the Trustee’s or the Certificate Administrator’s
negligence or willful misconduct; and

 

                            (vii)       
Neither the Trustee nor the Certificate Administrator shall be required to post any kind of bond or surety in connection with
the execution and performance of its duties hereunder.

 

None
of the provisions contained in this Agreement shall require the Trustee, in its capacity as Trustee, or the Certificate Administrator
in its capacity as Certificate Administrator, to expend or risk its own funds, or otherwise incur financial liability in the performance
of any of its duties hereunder, or in the exercise of any of its rights or powers, if in

 

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the
opinion of the Trustee or the Certificate Administrator, as applicable, the repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured to it, and none of the provisions contained in this Agreement shall in any event
require the Trustee or the Certificate Administrator to perform, or be responsible for the manner of performance of, any of the
obligations of the Servicer or the applicable Special Servicer under this Agreement, except during such time, if any, as the Trustee
shall be the successor to, and be vested with the rights, duties, powers and privileges of, the Servicer or such Special Servicer
in accordance with the terms of this Agreement. Neither the Trustee nor the Certificate Administrator shall be required to post
any surety or bond of any kind in connection with its performance of its obligations under this Agreement and, subject to Sections 3.07
and 7.02, the Trustee and the Certificate Administrator shall not be liable for any loss on any investment of funds
pursuant to this Agreement except for losses paid by the Certificate Administrator pursuant to Section 3.07 and losses
paid by the Trustee as successor to the Servicer or Special Servicer pursuant to Section 3.07.

 

Section
8.02       Certain Matters Affecting the Trustee and the Certificate Administrator. (a) Except
as otherwise provided in Section 8.01:

 

                            (i)            
each of the Trustee and the Certificate Administrator may request and/or conclusively rely upon and shall be protected in acting
or refraining from acting upon any resolution, Officer’s Certificate, certificate of auditors or any other certificate,
statement, instrument, opinion, written advice of counsel, report, notice, request, consent, order, appraisal, bond or other paper
or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties and the
Trustee and the Certificate Administrator shall have no responsibility to ascertain or confirm the genuineness of any such party
or parties;

 

                            (ii)           
each of the Trustee and the Certificate Administrator may consult with counsel and any advice or 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 written advice or Opinion of Counsel;

 

                            (iii)          
(A) neither the Trustee nor the Certificate Administrator shall be under any obligation to institute, conduct or defend any
litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the
provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator
reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby; (B) the
right of the Trustee and/or the Certificate Administrator to perform any discretionary act enumerated in this Agreement shall
not be construed as a duty, and neither the Trustee nor the Certificate Administrator shall be answerable for other than its negligence
or willful misconduct in the performance of any such act; and (C) provided that subject to the foregoing clause (A),
nothing contained herein shall relieve the Trustee or the Certificate Administrator of the obligations, upon the occurrence of
a Termination Event (that has not been cured or waived) of which a Responsible Officer of the Trustee or the Certificate Administrator,
as applicable, has actual knowledge (unless the failure to have knowledge thereof was caused by the Trustee’s or the Certificate
Administrator’s, as

 

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applicable,
negligence or willful misconduct), to exercise such of the rights and powers vested in it by this Agreement, and to use the same
degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs;

 

                            (iv)           
None of the Trustee, the Certificate Administrator nor any of their directors, officers, employees, Affiliates, agents or “control”
persons within the meaning of the Securities Act shall be personally liable for any action taken, suffered or omitted by it in
good faith and reasonably believed by the Trustee or the Certificate Administrator to be authorized or within the discretion or
rights or powers conferred upon it by this Agreement;

 

                            (v)            
Neither of the Trustee nor the Certificate Administrator shall be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other
paper or document that appears on its face to be what it purports to be and upon review of the foregoing conforms to the requirements
of this Agreement (unless such failure to investigate involves bad faith on the part of Trustee or the Certificate Administrator),
unless requested in writing to do so by Certificateholders entitled to at least 25% (or such other percentage as is specified
herein) of the Percentage Interests of any affected Class; provided, however, that if the payment within a reasonable
time to the Trustee or the Certificate Administrator of the costs, expenses or liabilities likely to be incurred by it in the
making of such investigation is, in the opinion of the Trustee or the Certificate Administrator, not reasonably assured to the
Trustee or the Certificate Administrator by the security afforded to it by the terms of this Agreement, each of the Trustee and
the Certificate Administrator may require reasonable indemnity against such expense or liability as a condition to taking any
such action. The reasonable expense of every such investigation shall be paid by the Servicer or the applicable Special Servicer
if a Termination Event shall have occurred and be continuing relating to the Servicer, or such Special Servicer, respectively,
and otherwise by the Certificateholders requesting the investigation;

 

                            (vi)           
Each of the Trustee and the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys (except with respect to any limited powers of attorney granted
to the Servicer or the applicable Special Servicer, any such action taken by any agent or attorney of the Trustee or the Certificate
Administrator remaining the responsibility of the Trustee or the Certificate Administrator, respectively);

 

                            (vii)          
Neither the Trustee nor the Certificate Administrator shall be required to give any bond or surety in respect of the execution
of the Trust Fund created hereby or the powers granted hereunder;

 

                            (viii)        
Neither the Trustee nor the Certificate Administrator shall be responsible for any act or omission of the Servicer or a Special
Servicer (unless the Trustee is acting as Servicer or Special Servicer, as the case may be) or of the Depositor; provided,
however, that the foregoing shall not relieve Trustee or the Certificate Administrator of

 

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its
duties with respect to a Termination Event pursuant to the second sentence of Section 8.01(a);

 

                            (ix)           
for as long as the Person that serves as the Trustee or the Certificate Administrator hereunder also serves as Custodian and/or
Certificate Registrar, the protections, immunities and indemnities afforded to that Person in its capacity as Trustee or Certificate
Administrator, as applicable, hereunder shall also be afforded to such Person in its capacity as Custodian and/or Certificate
Registrar, as the case may be;

 

                            (x)            
in no event shall the Trustee or the Certificate Administrator be liable for any failure or delay in the performance of its obligations
hereunder due to force majeure or acts of God; and

 

                            (xi)           
neither the Trustee nor the Certificate Administrator shall be liable for special, punitive, indirect or consequential loss or
damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee or the Certificate Administrator
has been advised of the likelihood of such loss or damage and regardless of the form of action.

 

(b)           
Following the Startup Day, neither the Trustee nor the Certificate Administrator shall, except as expressly required by any provision
of this Agreement, accept any contribution of assets to the Trust Fund unless the Trustee or the Certificate Administrator shall
have received an Opinion of Counsel (the costs of obtaining such opinion to be borne by the Person requesting such contribution)
to the effect that the inclusion of such assets in the Trust Fund will not cause the Upper-Tier REMIC, or the Lower-Tier REMIC
to fail to qualify as a REMIC at any time that any Certificates are outstanding, or subject the Upper-Tier REMIC, or the Lower-Tier
REMIC to any tax under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.

 

(c)           
All rights of action under this Agreement or under any of the Certificates, enforceable by the Trustee or the Certificate Administrator,
may be enforced by it without the possession of any of the Certificates, or the production thereof at the trial or other proceeding
relating thereto, and any such suit, action or proceeding instituted by the Trustee or the Certificate Administrator shall be
brought in its name for the benefit of all such Certificateholders, subject to the provisions of this Agreement.

 

Without
limiting the Certificate Administrator’s obligations under Section 2.02(b), neither the Trustee nor the Certificate
Administrator shall have any duty to conduct any affirmative investigation as to the occurrence of any condition requiring the
repurchase of any Mortgage Loan by the Mortgage Loan Seller pursuant to this Agreement or the eligibility of any Mortgage Loan
for purposes of this Agreement.

 

Section
8.03       Neither the Trustee nor the Certificate Administrator is Liable for Certificates,
Mortgage Loans. The recitals contained herein and in the Certificates shall not be taken as the statements of the Trustee,
the Certificate Administrator, the Servicer or a Special Servicer, and the Trustee, the Certificate Administrator, the Servicer
and the applicable Special Servicer assume no responsibility for their correctness. The Trustee, the Certificate

 

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Administrator,
the Servicer and each Special Servicer make no representations or warranties (except as provided in Section 2.04)
as to the validity or sufficiency of this Agreement, of the Certificates or any Offering Circular used to offer the Certificates
for sale or the validity, enforceability or sufficiency of any Mortgage Loan or related document. Neither the Trustee nor the
Certificate Administrator shall at any time have any responsibility or liability for or with respect to the legality, validity
and enforceability of any Mortgage, Mortgage Loan, or the perfection and priority of any Mortgage or the maintenance of any such
perfection and priority, or for or with respect to the sufficiency of the Trust Fund or its ability to generate the payments to
be distributed to Certificateholders under this Agreement. Without limiting the foregoing, the Trustee and the Certificate Administrator
shall not be liable or responsible for: the existence, condition and ownership of any Mortgaged Property; the existence of any
hazard or other insurance thereon (other than if the Trustee shall assume the duties of the Servicer or the applicable Special
Servicer pursuant to Section 7.02) or the enforceability thereof; the existence of any Mortgage Loan or the contents
of the related Mortgage File on any computer or other record thereof (other than if the Trustee shall assume the duties of the
Servicer or the Special Servicer pursuant to Section 7.02); the validity of the assignment of any Mortgage Loan to
the Trust Fund or of any intervening assignment; the completeness of any Mortgage File (except to the extent of the documents
contained therein at the time the Certificate Administrator or Custodian took possession thereof or subsequently delivered to
the Certificate Administrator or Custodian to be added thereto); the performance or enforcement (other than if the Trustee shall
assume the duties of the Servicer or the applicable Special Servicer pursuant to Section 7.02) of any Mortgage Loan;
the compliance by the Depositor, the Servicer or the applicable Special Servicer with any warranty or representation made under
this Agreement or in any related document or the accuracy of any such warranty or representation prior to the Trustee’s
or the Certificate Administrator’s receipt of notice or other discovery of any non-compliance therewith or any breach thereof
(other than if the Trustee shall assume the duties of the Servicer or the applicable Special Servicer pursuant to Section 7.02);
any investment of monies by or at the direction of the Servicer or any loss resulting therefrom (other than if the Trustee shall
assume the duties of the Servicer or the applicable Special Servicer pursuant to Section 7.02), it being understood
that the Trustee or the Certificate Administrator, as applicable, shall remain responsible for any Trust Fund property that it
may hold in its individual capacity; the acts or omissions of any of the Depositor, the Servicer or a Special Servicer (other
than if the Trustee shall assume the duties of the Servicer or applicable Special Servicer pursuant to Section 7.02)
or any sub-servicer or any Borrower; any action of the Servicer (other than if the Trustee shall assume the duties of the Servicer
pursuant to Section 7.02) or any sub-servicer taken in the name of the Trustee or the Certificate Administrator except
to the extent such action is taken at the express written direction of the Trustee or the Certificate Administrator, as applicable;
the failure of the Servicer or the applicable Special Servicer (other than if the Trustee shall assume the duties of the Servicer
or the applicable Special Servicer pursuant to Section 7.02) or any sub-servicer to act or perform any duties required
of it on behalf of the Trust Fund or the Trustee or the Certificate Administrator hereunder; or any action by or omission of the
Trustee or the Certificate Administrator taken at the instruction of the Servicer or the applicable Special Servicer (other than
if the Trustee shall assume the duties of the Servicer or the applicable Special Servicer pursuant to Section 7.02)
unless the taking of such action is not permitted by the express terms of this Agreement; provided, however, that
the foregoing shall not relieve the Trustee or the Certificate Administrator of its obligation to perform its duties as specifically
set

 

    	-208-

    	 

    

 

forth
in this Agreement. The Trustee and the Certificate Administrator shall not be accountable for the use or application by the Depositor,
the Servicer or the applicable Special Servicer of any of the Certificates or of the proceeds of such Certificates, or for the
use or application of any funds paid to the Depositor, the Servicer or the applicable Special Servicer in respect of the assignment
of the Mortgage Loans or deposited in or withdrawn from the Collection Account, Lower-Tier Distribution Account, Upper-Tier Distribution
Account, Lock Box Account, Cash Collateral Account or Reserve Account, any other account maintained by or on behalf of the Servicer
or the applicable Special Servicer, other than any funds held by the Certificate Administrator. Except as provided in Section 11.08,
the Trustee and the Certificate Administrator shall not have any responsibility for filing any financing or continuation statement
in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to
it hereunder (unless the Trustee shall have become the successor Servicer) or to record this Agreement. In making any calculation
hereunder that includes as a component thereof the payment or distribution of interest for a stated period at a stated rate “to
the extent permitted by applicable law,” the Trustee and the Certificate Administrator shall assume that such payment is
so permitted unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable has actual knowledge,
or receives an Opinion of Counsel (at the expense of the Person asserting the impermissibility) to the effect, that such payment
is not permitted by applicable law.

 

Section
8.04       Trustee and Certificate Administrator May Not Own Certificates. None of the
Trustee, the Certificate Administrator nor any agent or the Trustee or the Certificate Administrator may become the owner or pledgee
of Certificates. The Trustee or the Certificate Administrator may deal with the Depositor, the Servicer and a Special Servicer
in banking transactions, with the same rights it would have if it were not Trustee or the Certificate Administrator or such agent.

 

Section
8.05      Payment of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification.
(a) The Trustee and the Certificate Administrator or any successor Trustee or Certificate Administrator shall be entitled,
on each Distribution Date, to the Certificate Administrator Fee (including the portion of which is the Trustee Fee) (which shall
not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered
by the Trustee or the Certificate Administrator in the execution of the trusts hereby created and in the exercise and performance
of any of the powers and duties hereunder of the Trustee and the Certificate Administrator, which Certificate Administrator Fee
shall be paid to the Certificate Administrator by itself from funds on deposit in the Lower-Tier Distribution Account prior to
the distribution on such Distribution Date of amounts to the Certificateholders. If the Trustee assumes the servicing responsibilities
of the Servicer or the applicable Special Servicer hereunder pursuant to or otherwise arising from the resignation or removal
of the Servicer or such Special Servicer, the Trustee shall be entitled to the compensation to which the Servicer or such Special
Servicer, as the case may be, would have been entitled.

 

(b)           
The Trustee and the Certificate Administrator shall be paid or reimbursed by the Trust Fund upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Trustee or the Certificate Administrator pursuant to and in accordance
with the performance of its obligations and/or the exercise of its rights pursuant to any of the

 

    	-209-

    	 

    

 

provisions
of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel and of all persons
not regularly in its employ) to the extent such payments are “unanticipated expenses incurred by the REMIC” within
the meaning of Treasury Regulations Section 1.860G-1(b)(iii) except any such expense, disbursement or advance as may arise
from its willful misconduct, negligence or bad faith; provided, however, that subject to the last paragraph of Section 8.01,
the Trustee and the Certificate Administrator shall not refuse to perform any of its respective duties hereunder solely as a result
of the failure to be paid (a) the Certificate Administrator Fee (and the allocable portion to the Trustee) and (b) the
Trustee’s or the Certificate Administrator’s expenses, so long as the payment of such fees and expenses are reasonably
assured to it.

 

The
Servicer and each Special Servicer covenant and agree to pay or reimburse the Trustee and the Certificate Administrator for the
reasonable expenses, disbursements and advances incurred or made by the Trustee or the Certificate Administrator in connection
with any transfer of the servicing responsibilities of the Servicer or the applicable Special Servicer, respectively, hereunder,
pursuant to or otherwise arising from the resignation or removal of the Servicer and/or such Special Servicer, in accordance with
any of the provisions of this Agreement (and including the reasonable fees and expenses and disbursements of its counsel and all
other persons not regularly in its employ), except any such expense, disbursement or advance as may arise from the willful misconduct,
negligence or bad faith of the Trustee or the Certificate Administrator; provided that if the Servicer or the applicable
Special Servicer is terminated pursuant to Section 7.01(a) or 7.01(b), as applicable, expenses incurred in
connection with such transfer shall be paid as provided in Section 7.01(c).

 

(c)            
Each of the Trustee, the Certificate Administrator, the Certificate Registrar, the Custodian, the Depositor, the Servicer and
each Special Servicer (each, an “Indemnifying Party”) shall, severally and not jointly, indemnify the Trustee,
the Certificate Administrator, the Certificate Registrar, the Custodian, the Depositor, the Servicer, the applicable Special Servicer,
the Trust and their Affiliates (provided that no such party will be required to indemnify itself), and each of the directors,
officers, employees and agents of the Trustee, the Certificate Administrator, the Certificate Registrar, the Custodian, the Depositor,
the Servicer, the applicable Special Servicer, and their Affiliates (whether in their respective capacities or individually) (each,
an “Indemnified Party”), and hold each of them harmless against any and all claims, losses, damages, liabilities,
penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and any other costs, fees and
expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation, reasonable fees
and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party and
the Indemnified Party or between the Indemnified Party and any third party or otherwise) related to each such Indemnifying Party’s
respective willful misconduct, bad faith, fraud and/or negligence in the performance of each of its respective duties hereunder
or by reason of reckless disregard of its respective obligations and duties hereunder (including in the case of the Servicer,
any agent of the Servicer or sub-servicer).

 

(d)           
The Trust Fund shall indemnify each Indemnified Party from, and hold it harmless against, any and all losses, liabilities, damages,
claims or unanticipated expenses (including, without limitation, reasonable fees and disbursements of counsel incurred by the

 

    	-210-

    	 

    

 

Indemnified Party in any action or proceeding between the Indemnifying Party and the Indemnified Party or between the Indemnified
Party and any third party or otherwise) arising in respect of this Agreement, the Mortgage Loans, the Certificates or any act
or omission of the Indemnified Party relating to the exercise and performance of any of the powers and duties of such Indemnified
Party hereunder, in each case to the extent, and only to the extent, such payments are expressly reimbursable under this Agreement
or are “unanticipated expenses incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(iii),
other than (i) those resulting from the negligence, fraud, bad faith or willful misconduct of any Indemnified Party and (ii) those
as to which any Indemnified Party is entitled to and has received payment with respect to indemnification pursuant to Section 8.05(c).
The term “unanticipated expenses incurred by a REMIC” shall include any fees, expenses and disbursement of any separate
trustee or co-trustee appointed hereunder, only to the extent such fees, expenses and disbursements were not reasonably anticipated
as of the Closing Date and the losses, liabilities, damages, claims or expenses (including reasonable attorneys’ fees) incurred
or advanced by an Indemnified Party in connection with any litigation arising out of this Agreement, including, without limitation,
under Section 2.03, Section 3.10, the third paragraph of Section 3.11 and Section 7.01.
The right of reimbursement of the Indemnified Parties under this Section 8.05(d) shall be senior to the rights of
all Certificateholders. To the extent not otherwise paid to the Trustee pursuant to the terms hereof, the Certificate Administrator
may withdraw such amounts from the Lower-Tier Distribution Account to pay such amounts to the Trustee.

 

(e)           
Reserved.

 

(f)           
Notwithstanding anything herein to the contrary, this Section 8.05 shall survive the termination or maturity of this
Agreement or the resignation or removal of the Trustee or the Certificate Administrator, as the case may be, as regards rights
accrued prior to such resignation or removal and (with respect to any acts or omissions during their respective tenures) the resignation,
removal or termination of the Servicer, the applicable Special Servicer, the Certificate Registrar or the Custodian.

 

(g)          
This Section 8.05 shall be expressly construed to include, but not be limited to, such indemnities, compensation,
expenses, disbursements, advances, losses, liabilities, damages and the like, as may pertain or relate to any environmental law
or environmental matter.

 

Section
8.06       Eligibility Requirements for Trustee and the Certificate Administrator. Each of
the Trustee and the Certificate Administrator hereunder shall at all times be a corporation or association 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 under this Agreement, (x) having a combined capital and surplus of at least $50,000,000 (y)
having a rating on its unsecured long term debt of at least “A” by S&P and (z) Morningstar shall not have withdrawn,
qualified or downgraded its ratings on securities in a commercial mortgage loan securitization as a result of the performance
by such Trustee or Certificate Administrator thereunder, or meet different standards, provided that a Rating Agency Confirmation
has been obtained with respect to such different standards, and subject to supervision or examination by federal or state authority
and shall not be an Affiliate of the

 

    	-211-

    	 

    

 

Servicer
(except during any period when the Trustee has assumed the duties of the Servicer pursuant to Section 7.02). If a
corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for purposes of this Section the combined capital and surplus of such corporation shall
be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If the place
of business from which the Trustee or the Certificate Administrator, as applicable, administers the Trust Fund is a state or local
jurisdiction that imposes a tax on the Trust Fund or the net income of a Trust REMIC (other than a tax corresponding to a tax
imposed under the REMIC Provisions), the Trustee or the Certificate Administrator, as applicable, shall elect either to (i) resign
immediately in the manner and with the effect specified in Section 8.07, (ii) pay such tax and continue as Trustee
or Certificate Administrator or (iii) administer the Trust Fund from a state and local jurisdiction that does not impose
such a tax. In case at any time the Trustee or the Certificate Administrator, as applicable, shall cease to be eligible in accordance
with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07.

 

Section
8.07       Resignation and Removal of the Trustee or the Certificate Administrator. Each
of the Trustee and the Certificate Administrator may at any time resign and be discharged from the Trust by giving written notice
thereof to the Depositor, the Servicer, the Special Servicers, the Certificate Administrator and the Rating Agencies; provided
that no such resignation shall be effective until a successor has been appointed. Upon such notice of resignation, the Servicer
shall promptly appoint a successor Trustee or Certificate Administrator, as applicable, the appointment of which shall require
Rating Agency Confirmation, which instrument shall be delivered to the resigning Trustee or Certificate Administrator and the
successor Trustee or Certificate Administrator. If no successor Trustee or Certificate Administrator shall have been so appointed
and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee or Certificate
Administrator may petition any court of competent jurisdiction for the appointment of a successor Trustee or Certificate Administrator.

 

If
at any time the Trustee or the Certificate Administrator shall cease to be eligible in accordance with the provisions of Section 8.06
and shall fail to resign after written request therefor by the Depositor or the Servicer, or if at any time the Trustee or
the Certificate Administrator shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the
Trustee or the Certificate Administrator or of its property shall be appointed, or any public officer shall take charge or control
of the Trustee, the Certificate Administrator or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Depositor or the Servicer may remove the Trustee or the Certificate Administrator, as applicable, and the
Servicer shall promptly appoint a successor Trustee or Certificate Administrator by written instrument, which shall be delivered
to the Trustee or Certificate Administrator so removed and to the successor Trustee or the Certificate Administrator, as applicable.

 

The
holders of at least 66-2/3% of the Certificate Balance of the outstanding Certificates may, only for cause, remove the Trustee
or the Certificate Administrator and appoint a successor Trustee or Certificate Administrator, as applicable, by written instrument
or instruments, in eight originals, signed by such Certificateholders or their attorneys in fact duly authorized, one complete
set of which instruments shall be delivered to the Depositor, one

 

    	-212-

    	 

    

 

complete
set to the Servicer, one complete set to the Trustee or the Certificate Administrator so removed, one complete set to the successor
Trustee or Certificate Administrator so appointed.

 

If
the Trustee or the Certificate Administrator is terminated or removed pursuant to this Section 8.07, all of its rights
and obligations under this Agreement and in and to the Mortgage Loans shall be terminated, other than any rights or obligations
that accrued prior to the date of such termination or removal (including the right to receive all fees, expenses and other amounts
accrued or owing to it under this Agreement, plus interest at the Advance Interest Rate on all such amounts until received to
the extent such amounts bear interest as provided in this Agreement, with respect to periods prior to the date of such termination
or removal). Notwithstanding the foregoing, upon any termination of the Trustee or the Certificate Administrator hereunder, the
Trustee or the Certificate Administrator, as applicable, shall continue to be entitled to receive all accrued and unreimbursed
expenses and unpaid compensation accrued through the date of termination plus all Advances and interest thereon.

 

Any
resignation or removal of the Trustee or the Certificate Administrator and appointment of a successor Trustee or Certificate Administrator
shall not become effective until acceptance of the appointment by the successor Trustee or Certificate Administrator as provided
in Section 8.08 and the Trustee or the Certificate Administrator, as applicable, has paid all costs and expenses incurred
by the Trust Fund and the Servicer in connection with such resignation and appointment of a successor Trustee or successor Certificate
Administrator.

 

Section
8.08       Successor Trustee or Successor Certificate Administrator. (a) Any successor
Trustee or Certificate Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver
to the Depositor, to the Servicer and to the predecessor Trustee or Certificate Administrator instruments accepting their appointment
hereunder, and thereupon the resignation or removal of the predecessor Trustee or Certificate Administrator shall become effective
and such successor Trustee or Certificate Administrator, without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named
as Trustee or Certificate Administrator herein, provided that the appointment of such successor Trustee or Certificate
Administrator shall not, as evidenced in writing, result in a downgrade, qualification or withdrawal of the then current ratings
assigned to the Certificates. The predecessor Trustee or Certificate Administrator shall deliver to the successor Trustee or Certificate
Administrator, as applicable, all Mortgage Files and related documents and statements held by it hereunder, and the Depositor
and the predecessor Trustee or Certificate Administrator shall execute and deliver such instruments and do such other things as
may reasonably be required for more fully and certainly vesting and confirming in the successor Trustee or Certificate Administrator
all such rights, powers, duties and obligations. No successor Trustee or Certificate Administrator shall accept appointment as
provided in this Section 8.08 unless at the time of such acceptance such successor Trustee or Certificate Administrator
shall be eligible under the provisions of Section 8.06.

 

Upon
acceptance of appointment by a successor Trustee or Certificate Administrator as provided in this Section 8.08, the
Depositor shall mail notice of the succession of such Trustee or Certificate Administrator hereunder to all Certificateholders
at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days

 

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after
acceptance of appointment by the successor Trustee or Certificate Administrator, the successor Trustee or Certificate Administrator
shall cause such notice to be mailed at the expense of the Depositor.

 

(b)           
Any successor Trustee or Certificate Administrator appointed pursuant to this Agreement shall satisfy the eligibility requirements
set forth in Section 8.06.

 

Section
8.09       Merger or Consolidation of Trustee or the Certificate Administrator. Any corporation
into which the Trustee or Certificate Administrator may be merged or converted or with which it may be consolidated or any corporation
resulting from any merger, conversion or consolidation to which the Trustee or Certificate Administrator shall be a party, or
any corporation succeeding to all or substantially all of the corporate trust business of the Trustee or Certificate Administrator,
shall be the successor of the Trustee or Certificate Administrator hereunder, provided that such corporation shall be eligible
under the provisions of Section 8.06 without the execution or filing of any paper or any further act on the part of
any of the parties hereto, anything herein to the contrary notwithstanding.

 

Section
8.10       Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions
hereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund
or property securing the same may at the time be located, the Depositor and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more Persons approved by the Trustee to act (at the expense of the
Trustee) as co-trustee or co-trustees, jointly with the Trustee, or separate trustee or separate trustees, of all or any part
of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof,
and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as
the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment
within 15 days after the receipt by it of a request so to do, or in case a Termination Event shall have occurred and be continuing,
the Trustee alone shall have the power to make such appointment. Except as required by applicable law, the appointment of a co-trustee
or separate trustee shall not relieve the Trustee of its responsibilities, obligations and liabilities hereunder; provided
that the Trustee shall have no liability for the acts or omissions of any co-trustee or separate trustee that fall outside
of the express authority of such co-trustee or separate trustee. No co-trustee or separate trustee hereunder shall be required
to meet the terms of eligibility as a successor Trustee under Section 8.06 and no notice to Certificateholders of
the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 8.08.

 

In
the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10, all rights, powers,
duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by
the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not
authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction
in which any particular act or acts are to be performed (whether as Trustee hereunder or as successor to the Servicer hereunder),
the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Fund or any portion thereof in any such

 

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jurisdiction)
shall be exercised and performed by such separate trustee or co-trustee solely at the direction of the Trustee.

 

No
trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement.
The Depositor and the Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee,
or if the separate trustee or co-trustee is an employee of the Trustee, the Trustee acting alone may accept the resignation of
or remove any separate trustee or co-trustee.

 

Any
notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees
and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall
refer to this Agreement and the conditions of this Article VIII. Every such instrument shall be filed with the Trustee.
Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject
to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of,
affecting the liability of, or affording protection to, the Trustee. In no event shall any such separate trustee or co-trustee
be entitled to any provision relating to the conduct of, affecting the liability of or affording protection to such separate trustee
or co-trustee that imposes a standard of conduct less stringent than that imposed by the Trustee hereunder, affording greater
protection than that afforded to the Trustee hereunder or providing a greater limit on liability than that provided to the Trustee
hereunder.

 

Any
separate trustee or co-trustee may, at any time, constitute the Trustee’s agent or attorney in fact, with full power and
authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in
its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without
the appointment of a new or successor trustee.

 

Section
8.11       Maintenance of Office or Agency. The Certificate Administrator shall maintain
or cause to be maintained an office or offices or agency or agencies where Certificates may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Certificate Administrator in respect of the Certificates and
this Agreement may be served. The Certificate Administrator initially appoints the offices of the Certificate Registrar designated
in Section 5.02 for transfer and exchange of Certificates and designates the Corporate Trust Office as its office
for purposes of receipt of such notices and demands. The Certificate Registrar will give prompt written notice to the Certificateholders
of any change in the location of the Certificate Register or any such office or agency.

 

Section
8.12        [RESERVED]

 

Section
8.13       Access to Certain Information. (a)  The Certificate Administrator shall
afford to any Privileged Person (other than the Rating Agencies) and to the Office of Thrift Supervision, the FDIC and any other
banking or insurance regulatory authority that may exercise authority over any Certificateholder, access to any documentation
regarding the Mortgage Loans

 

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or
the other assets of the Trust Fund that are in its possession or within its control, including without limitation:

 

                             (i)          the
Mortgage Loan files, including any and all modifications, waivers and amendments to the terms of the Mortgage Loans entered into
or consented to by the Servicer or the applicable Special Servicer and delivered to the Certificate Administrator;

 

                             (ii)         the
annual, quarterly and monthly operating statements, if any, collected by or on behalf of the Servicer or applicable Special Servicer,
as applicable, and delivered to the Certificate Administrator for each Mortgaged Property, and

 

                             (iii)        all
notices and reports delivered to the Certificate Administrator with respect to any Mortgaged Property as to which environmental
testing revealed any failure of such Mortgaged Property to comply with any applicable law, including any environmental law, or
which revealed an environmental condition present at a Mortgaged Property requiring further investigation, testing, monitoring,
containment, clean up, or remediation.

 

Such
access shall be afforded without charge but only upon reasonable prior written request and during normal business hours at the
offices of the Certificate Administrator.

 

The
Certificate Administrator will provide copies of the items described in this Section 8.13(a) above upon reasonable
written request to the Certificateholders. The Certificate Administrator may require payment for the reasonable costs and expenses
of providing the copies and may also require a confirmation executed by the requesting Person, in a form reasonably acceptable
to the Certificate Administrator, to the effect that the Person making the request is a Beneficial Owner or prospective purchaser
of Certificates, is requesting the information solely for use in evaluating its investment in the Certificates and will otherwise
keep the information confidential. Certificateholders, by the acceptance of their Certificates, will be deemed to have agreed
to keep this information confidential.

 

(b)          The
Certificate Administrator shall make available to Privileged Persons, via the Certificate Administrator’s Website, the following
items (to the extent such items were prepared by or delivered to the Certificate Administrator in electronic format):

 

                             (i)          The
following “deal documents”:

 

(A)          
the Offering Circular and any other disclosure document relating to the Certificates, in the form most recently provided to the
Certificate Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)          
this Agreement, each sub-servicing agreement delivered to the Certificate Administrator since the Closing Date (if any) and any
amendments and exhibits hereto or thereto; and

 

(C)          
the CREFC® Loan Setup File prepared by the Servicer and delivered to the Certificate Administrator;

 

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                             (ii)         The
following “periodic reports”:

 

(A)          
all Distribution Date Statements prepared by the Certificate Administrator pursuant to Section 4.02; and

 

(B)          
the CREFC® Investor Reporting Package files (other than the CREFC® Loan Setup File) prepared by,
or delivered to, the Certificate Administrator;

 

                             (iii)        The
following “additional documents”:

 

(A)          
summaries of Asset Status Reports delivered to the Certificate Administrator pursuant to Section 3.26;

 

(B)          
all inspection reports delivered to the Certificate Administrator pursuant to Section 3.20; and

 

(C)          
all Appraisals delivered to the Certificate Administrator pursuant to Section 3.10;

 

                             (iv)         The
following “special notices”:

 

(A)          
any notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 10.01;

 

(B)          
any notice of termination of the Servicer or a Special Servicer delivered to the Certificate Administrator pursuant to Section 7.01;

 

(C)          
any notice of a Servicer Termination Event or a Special Servicer Termination Event delivered to the Trustee pursuant to Section 7.01;

 

(D)          
any request by the Certificateholders representing at least 25% of the Voting Rights to terminate a Special Servicer pursuant
to Section 7.01(c);

 

(E)           
any notice of resignation of the Trustee or the Certificate Administrator and any notice of the acceptance of appointment by the
successor Trustee or Certificate Administrator pursuant to Section 8.07 or Section 8.08;

 

(F)           
any and all Officer’s Certificates and other evidence delivered to the Certificate Administrator to support the Trustee’s,
the Servicer’s or the applicable Special Servicer’s, as the case may be, determination that any Advance was (or, if
made, would be) a Nonrecoverable Advance, pursuant to Section 3.06, Section 3.24 or Section 4.07;

 

(G)          
any Special Notice delivered to the Certificate Administrator pursuant to Section 5.09;

 

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(H)          
any Assessments of Compliance delivered to the Certificate Administrator;

 

(I)             
any Attestation Reports delivered to the Certificate Administrator;

 

(J)            
whether a Control Event has occurred and is continuing or a Consultation Termination Event has occurred;

 

(K)          
any amendment to this Agreement pursuant to Section 11.07; and

 

(L)           
all Officers’ Certificates and accountants’ reports delivered to the Certificate Administrator since the Closing Date;

 

(M)         
notice of any material amendments to a Ground Lease or any rejection or termination of a Ground Lease;

 

                             (v)          the
“Investor Q&A Forum” pursuant to Section 4.06; and

 

                             (vi)         solely
to Certificateholders and Beneficial Owner of Certificates, the “Investor Registry” pursuant to Section 4.06.

 

Section
8.14       Rule 17g-5 Information Provider

 

(a) The
17g-5 Information Provider shall make available solely to the Depositor and NRSROs (including the Rating Agencies) who have submitted
an NRSRO Certification to the 17g-5 Information Provider, the following items to the extent such items are delivered to it via
email at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “WP Glimcher Mall Trust
2015-WPG” and an identification of the type of information being provided in the body of the email, or via any alternate
email address following notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information
Provider if or as may be necessary or beneficial:

 

                             (i)           any
Asset Status Report delivered by the applicable Special Servicer under Section 3.26;

 

                             (ii)          any
environmental reports delivered by the applicable Special Servicer under Section 3.10;

 

                             (iii)         any
Annual Statements as to Compliance and related Officer’s Certificates delivered under Section 3.14;

 

                             (iv)         any
Annual Independent Public Accountants’ Servicing Reports delivered pursuant to Section 3.16;

 

                             (v)          any
Appraisals delivered to the 17g-5 Information Provider;

 

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                             (vi)         any
information requested by the Depositor or the Rating Agencies (it being understood the 17g-5 Information Provider shall not disclose
on the 17g-5 Information Provider’s Website which Rating Agency requested such information);

 

                             (vii)        any
notice to the Rating Agencies relating to the Servicer’s or applicable Special Servicer’s determination to take action
without receiving Rating Agency Confirmation as set forth in Section 3.31;

 

                             (viii)       any
requests for Rating Agency Confirmation that are delivered to the 17g-5 Information Provider;

 

                             (ix)         any
summary of oral communications with the Rating Agencies that are delivered to the 17g-5 Information Provider pursuant to Section 8.14;
provided that the summary of such oral communications shall not attribute which Rating Agency the communication was with;

 

                             (x)          any
amendment to this Agreement pursuant to Section 11.07;

 

                             (xi)         notice
of final payments on the Certificates;

 

                             (xii)        the
Rating Agency Q&A Forum pursuant to Section 8.14(c);

 

                             (xiii)       notice
of any resignation of the Trustee or the Certificate Administrator or the acceptance of appointment by the successor Trustee or
Certificate Administrator;

 

                             (xiv)       Officer’s
Certificates supporting nonrecoverable determinations relating to Advances;

 

                             (xv)        notices
of Servicer Termination Events and Special Servicer Termination Events; and

 

                             (xvi)       notices
pursuant to Section 11.06.

 

The
foregoing information shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website.
Information will be posted on the same Business Day of receipt provided that such information is received by 12:00 p.m.
(eastern time) or, if received after 12:00 p.m., on the next Business Day. The 17g-5 Information Provider shall have no obligation
or duty to verify, confirm or otherwise determine whether the information being delivered is accurate, complete, conforms to the
transaction, or otherwise is or is not anything other than what it purports to be. In the event that any information is delivered
or posted in error, the 17g-5 Information Provider may remove it from the 17g-5 Information Provider’s Website. The Certificate
Administrator and the 17g-5 Information Provider have not obtained and shall not be deemed to have obtained actual knowledge of
any information posted to the 17g-5 Information Provider’s Website to the extent such information was not produced by the
Certificate Administrator. Access will be provided by the 17g-5 Information Provider to the NRSROs upon receipt of an NRSRO Certification
substantially in the form of Exhibit L-3 hereto (which certification may be submitted electronically via the Certificate
Administrator’s

 

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Website).
Questions regarding delivery of information to the 17g-5 Information Provider may be directed to its customer service desk at
(866) 846-4526.

 

In
connection with the delivery by the Servicer or the applicable Special Servicer to the Rule 17g-5 Information Provider of any
information, report, notice or document for posting to the Rule 17g-5 Information Provider’s Website, the Servicer or the
applicable Special Servicer, as applicable, may (but is not obligated to) send such information, report, notice or other document
to the applicable Rating Agency, but any such delivery may not occur until the earlier of (i) after receipt of written confirmation
from the Rule 17g-5 Information Provider (which the Rule 17g-5 Information Provider shall provide to the Servicer or the applicable
Special Servicer via an automatically generated e-mail, as applicable) that such information, report, notice or document has been
posted to the Rule 17g-5 Information Provider’s Website or (ii) the second Business Day after it has provided such information,
report, notice or other document to the Rule 17g-5 Information Provider.

 

The
Certificate Administrator and the 17g-5 Information Provider shall provide a mechanism to promptly notify each Person that has
signed-up for access to its website in respect of the transaction governed by this Agreement each time an additional document
is posted thereto. In connection with providing access to the Certificate Administrator’s Website or the 17g-5 Information
Provider’s Website, the Certificate Administrator and the 17g-5 Information Provider may require registration and the acceptance
of a disclaimer. The Certificate Administrator and the 17g-5 Information Provider shall not be liable for the dissemination of
information in accordance with the terms of this Agreement, make no representations or warranties as to the accuracy or completeness
of such information being made available, and assume no responsibility for such information. The 17g-5 Information Provider shall
not be liable for making any information available to NRSROs unless same was delivered to it at its email address set forth above,
with the proper subject heading. Assistance in using the Certificate Administrator’s Website or the 17g-5 Information Provider
can be obtained by calling its customer service desk at (866) 846-4526.

 

(b)           
Each of the Servicer and the applicable Special Servicer may, in accordance with such reasonable rules and procedures as it may
adopt, also make available through its website or otherwise, any additional information relating to the Mortgage Loans, the Mortgaged
Properties or the Borrowers, for review by the Depositor, the Initial Purchasers, the Trustee, the Certificate Administrator and
any other Privileged Person (collectively, the “Disclosure Parties”), in each case, except to the extent doing
so is prohibited by this Agreement, applicable law or by the Mortgage Loan Documents. Each of the Servicer and the applicable
Special Servicer shall be entitled to (i) indicate the source of such information and affix thereto any disclaimer it deems
appropriate in its discretion and/or (ii) require that the recipient of such information (A) except for the Depositor,
the Certificate Administrator or the Trustee, enter into an Investor Certification or other confidentiality agreement acceptable
to the Servicer or such Special Servicer, as the case may be, and (B) acknowledge that the Servicer or such Special Servicer
may contemporaneously provide such information to any other Disclosure Party. In addition, to the extent access to such information
is provided via the Servicer’s or the applicable Special Servicer’s website, the Servicer and such Special Servicer
may require registration and the acceptance of a reasonable and customary disclaimer and/or an additional or alternative agreement
as to the confidential nature of such information. In connection with providing access

 

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to
or copies of the information described in this Section 8.14(b) to current or prospective Certificateholders the form
of confidentiality agreement used by the Servicer or such Special Servicer, as applicable, shall be: (i) in the case of a
Certificateholder, an Investor Certification in the form of Exhibit L-1 executed by the requesting Person indicating that
such Person is a Holder of Certificates and will keep such information confidential (except that such Certificateholder may provide
such information (x) to its auditors, legal counsel and regulators and (y) to any other Person that holds or is contemplating
the purchase of any Certificate or interest therein (provided that such other Person confirms in writing such ownership
interest or prospective ownership interest and agrees to keep such information confidential)); and (ii) in the case of a
prospective purchaser of Certificates or interests therein, an Investor Certification in the form of Exhibit L-1 indicating
that such Person is a prospective purchaser of a Certificate or an interest therein and is requesting the information for use
in evaluating a possible investment in Certificates and will otherwise keep such information confidential. In the case of a licensed
or registered investment advisor acting on behalf of a current or prospective Certificateholder, the Investor Certification shall
be executed and delivered by both the investment advisor and such current or prospective Certificateholder.

 

Neither
the Servicer nor either Special Servicer shall be liable for the dissemination of information in accordance with this Agreement.
Neither the Servicer nor either Special Servicer shall be responsible or have any liability for the completeness or accuracy of
the information delivered, produced or otherwise made available pursuant to this Section 8.14(b) unless such information
was produced by the Servicer or applicable Special Servicer, as applicable.

 

The
Servicer, the Special Servicers, the Certificate Administrator and the Trustee shall be permitted (but are not required) to orally
communicate with the Rating Agencies provided that such party summarizes the information provided to the Rating Agencies
in such communication and provides the 17g-5 Information Provider with such summary in accordance with the procedures set forth
in Section 8.14(a) on the same day such communication takes place; provided that the summary of such oral communications
shall not be attributed to the Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary
on the 17g-5 Information Provider’s Website in accordance with the procedures set forth in Section 8.14(a).

 

None
of the foregoing restrictions in this Section 8.14 or otherwise in this Agreement shall prohibit or restrict oral
or written communications, or providing information, between the Servicer or the applicable Special Servicer, on the one hand,
and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the
ratings it assigns to the Servicer or such Special Servicer, as applicable, (ii) such Rating Agency’s or NRSRO’s approval
of the Servicer or such Special Servicer, as applicable, as a commercial mortgage master, special or primary servicer or (iii)
such Rating Agency’s or NRSRO’s evaluation of the Servicer’s or such Special Servicer’s, as applicable,
servicing operations in general; provided that the Servicer or such Special Servicer, as applicable, shall not provide
any information relating to the Certificates or the Mortgage Loans to any Rating Agency or NRSRO in connection with such review
and evaluation by such Rating Agency or NRSRO unless (x) borrower, property and other deal specific identifiers are redacted;
or (y) such

 

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information
has already been provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider’s
Website.

 

(c)           
The 17g-5 Information Provider will make the “Rating Agency Q&A Forum and Document Request Tool” available to
NRSROs via the 17g-5 Information Providers internet website, where NRSROs may (i) submit inquiries to the Certificate Administrator
relating to the Distribution Date Statement, (ii) submit inquiries to the Servicer or the applicable Special Servicer relating
to reports, the Mortgage Loans, or the Mortgaged Properties, (iii) submit requests for loan-level reports and information,
and (iv) view previously submitted inquiries and related answers or reports, as the case may be. The 17g-5 Information Provider
shall promptly forward such inquiries to the applicable party. The Certificate Administrator, the Servicer or the applicable Special
Servicer, as applicable, will be required to answer each inquiry, unless it determines that (a) answering the inquiry would
be in violation of applicable law, Accepted Servicing Practices, this Agreement, or the applicable Mortgage Loan Documents, (b) answering
the inquiry would or is reasonably expected to result in a waiver of an attorney-client privilege or the disclosure of attorney
work product, or (c) answering the inquiry would materially increase the duties of, or result in significant additional cost
or expense to, such party, and the performance of such additional duty or the payment of such additional cost or expense is beyond
the scope of its duties under this Agreement. If the event any of the Certificate Administrator, the Servicer or the applicable
Special Servicer declines to answer an inquiry, it shall promptly email the 17g-5 Information Provider with the basis of such
declination. The 17g-5 Information Provider will be required to post the inquiries and the related answers (or reports, as applicable)
on the Rating Agency Q&A Forum and Document Request Tool promptly upon receipt, or in the event that an inquiry is unanswered,
the inquiry and the basis for which it was unanswered. The Rating Agency Q&A Forum and Document Request Tool may not reflect
questions, answers, or other communications which are not submitted through the 17g-5 Information Provider’s Website. Answers
and information posted on the Rating Agency Q&A Forum and Document Request Tool will be attributable only to the respondent,
and will not be deemed to be answers from any other person. No such other person will have any responsibility or liability for,
and will not be deemed to have knowledge of, the content of any such information. None of the Initial Purchasers, the Depositor,
or any of their respective affiliates will certify to any of the information posted on the Rating Agency Q&A Forum and Document
Request Tool. The 17g-5 Information Provider shall not be required to post to the 17g-5 Information Provider’s Website any
Rating Agency inquiry or answer thereto that the 17g-5 Information Provider determines, in its sole discretion, is administrative
or ministerial in nature.

 

(d)           
Certain information concerning the Mortgage Loans and the Certificates, including the Distribution Date Statements, the CREFC®
Investor Reporting Package and supplemental notices, shall be provided by the Certificate Administrator to certain market
data providers upon the consent of the Depositor, and upon receipt by the Certificate Administrator from such person of a certification
in the form of Exhibit P hereto, which certification may be submitted electronically via the Certificate Administrator’s
Website. The Depositor hereby consents to the provision of such information to Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc.,
BlackRock Financial Management, Inc., Interactive Data Corporation, CMBS.com, Thomson Reuters and Markit, and the provision of
such information shall not constitute a breach of this Agreement by the Certificate Administrator.

 

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ARTICLE
IX

CERTAIN MATTERS RELATING TO THE DIRECTING CERTIFICATEHOLDER

 

Section
9.01     Selection and Removal of the Directing Certificateholder.

 

(a)              
The Majority Controlling Class Certificateholders may elect the Directing Certificateholder.

 

(b)                
The Directing Certificateholder shall be selected by the Majority Controlling Class Certificateholders,
as determined by the Certificate Registrar from time to time; provided that (i) absent such selection or (ii) upon receipt
by the Servicer, the applicable Special Servicer, the Trustee and the Certificate Administrator of notice from the Majority Controlling
Class Certificateholders that a Directing Certificateholder is no longer so designated, the Controlling Class Certificateholder
that owns, and is identified (with contact information) to the Servicer, such Special Servicer, the Trustee and the Certificate
Administrator as owning, the largest aggregate Certificate Balance of Certificates of the Controlling Class, or the designee of
such Controlling Class Certificateholder (but only for so long as such Controlling Class Certificateholder owns the largest aggregate
Certificate Balance of the Controlling Class), shall be the Directing Certificateholder. Each Holder of the Certificates of the
Controlling Class shall be entitled to vote in each election of the Directing Certificateholder. Notwithstanding anything to the
contrary herein, the (x) Directing Certificateholder cannot be any Borrower Affiliate, any Restricted Holder or the Manager or
any of their servicers or respective agents or Affiliates and (y) for purposes of determining the Majority Controlling Class Certificateholders
and/or appointing the Directing Certificateholder, any Borrower Affiliate, any Restricted Holder, the Manager or any of their servicers
or respective agents or Affiliates shall be deemed not to be a Certificateholder and shall not be entitled to exercise such right.
Notwithstanding anything to the contrary herein, each of the Trustee and the Certificate Administrator may conclusively rely on
any Investor Certification provided to it in connection with the foregoing and may require that Investor Certifications are resubmitted
from time to time in accordance with its policies and procedures.

 

(c)                
The initial Directing Certificateholder with respect to the Scottsdale Mortgage Loan is Pacific
Life Insurance Company. J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. purchased the Class PR-1 and Class PR-2 Certificates
on the Closing Date for sale to investors in the ordinary course of business. No party will be entitled to exercise the rights
of the Directing Certificateholder with respect to the Pearlridge Whole Loan until a Control Enabling Event occurs. The Majority
Controlling Class Certificateholders shall give written notice to the Trustee, the Certificate Administrator, the Servicer and
the applicable Special Servicer of the appointment of any subsequent Directing Certificateholder (in order to receive notices
hereunder). Any Controlling Class Certificateholder that owns, and is identified (with contact information) to the Servicer, the
Special Servicers, the Trustee and the Certificate Administrator as owning, the largest aggregate Certificate Balance of Certificates
of the Controlling Class, shall give written notice to the Trustee, the Certificate Administrator, the Servicer and the Special
Servicers of the appointment of a Directing Certificateholder (if any) (in order to receive notices hereunder) by such Controlling
Class Certificateholder for so long as such Controlling Class Certificateholder owns the largest aggregate Certificate Balance
of the

 

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Controlling
Class and shall also state that such Directing Certificateholder is not a Borrower or Borrower Affiliate.

 

(d)                
The Directing Certificateholder may be removed at any time by the written vote of the Majority
Controlling Class Certificateholders, and a copy of the results of such vote shall be delivered to the Certificate Administrator,
the Trustee, the Servicer and the applicable Special Servicer.

 

(e)                
Each Controlling Class Certificateholder is hereby deemed to have agreed by virtue of its
purchase of a Certificate to provide its name and address to the Certificate Administrator and the Trustee and to notify the Certificate
Administrator and all the parties hereto of the selection of a Directing Certificateholder or the resignation or removal thereof.
Any Certificateholder or its designee at any time appointed Directing Certificateholder is hereby deemed to have agreed by virtue
of its purchase of a Certificate to notify the Certificate Administrator when such Certificateholder or its designee is appointed
Directing Certificateholder and when it is removed or resigns. Upon receipt of such notice, the Certificate Administrator shall
notify the Trustee, the applicable Special Servicer and the Servicer of the identity of the Directing Certificateholder and any
resignation or removal thereof. In addition, upon the request of the Servicer or a Special Servicer, as applicable, the Certificate
Administrator shall provide the name of the then-current Directing Certificateholder and a list of the Certificateholders (or Beneficial
Owners, if applicable, at the expense of the requesting party) of the Controlling Class to such requesting party. In addition,
(i) any Holder owning more than fifty percent (50%) of the applicable Controlling Class (by Certificate Balance) is hereby deemed
to have agreed by virtue of its purchase of a Certificate to notify the Trustee and the Certificate Administrator when it no longer
holds the majority of the Controlling Class Certificates (by Certificate Balance), and (ii) each of the Holders of the Controlling
Class Certificates who collectively own more than fifty percent (50%) of the applicable Controlling Class (by Certificate Balance)
is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify the Trustee and the Certificate Administrator
when it transfers its Controlling Class Certificate (or its beneficial interest in the Controlling Class Certificates) and, as
a result of such transfer, such Holders who collectively appointed the Directing Certificateholder no longer collectively own more
than the applicable percentage of the Controlling Class Certificates (by Certificate Balance) set forth above; provided
that in no event with respect to either clause (i) or (ii) shall any Controlling Class Certificateholder have
any liability to any Person for the failure to provide any such notices.

 

(f)                 
Until it receives notice to the contrary, each party to this Agreement shall be entitled to
rely on the most recent notification with respect to the identity of the Certificateholders of the Controlling Class and the Directing
Certificateholder.

 

(g)                
The Directing Certificateholder shall be responsible for its own expenses.

 

Notwithstanding any other provision
to this Agreement, in the event that there is no Controlling Class or no Directing Certificateholder has been appointed or identified
to the Servicer or a Special Servicer, as applicable, and the Servicer or such Special Servicer, as applicable, has attempted to
obtain such information from the Trustee and the Certificate Administrator and no such entity has been identified to the Servicer
or such Special Servicer, as

 

    	-224-

    	 

    

 

applicable, then the Servicer or such Special Servicer, as applicable, shall have no duty to consult
with, provide notice to, or seek the approval or consent of any such Directing Certificateholder as the case may be until such
time as a Directing Certificateholder meeting the definition thereof is so appointed or identified. Upon request, the Certificate
Administrator shall provide such information as is then in its possession to identify the Directing Certificateholder to the Servicer
and such Special Servicer.

 

Section
9.02     Limitation on Liability of Directing Certificateholder; Acknowledgements of the Certificateholders. 

 

Neither the Controlling Class
nor the Directing Certificateholder shall have any liability to the Trust or the Certificateholders for any action taken, or for
refraining from the taking of any action for errors in judgment.

 

By its acceptance of a Certificate,
each Certificateholder acknowledges and agrees that the Directing Certificateholder and/or the Controlling Class Certificateholders
(i) may have special relationships and interests that conflict with those of Holders of one or more Classes of the Certificates,
including owning any interest in a Companion Loan, (ii) may act solely in the interests of the Holders of the Controlling
Class, including the Directing Certificateholder, (iii) does not have any duties or liability to the Holders of any Class
of Certificates including other holders of the related Controlling Class or to the Companion Loan Holders, (iv) may take actions
that favor the interests of one or more Classes of the Certificates, including the Holders of the Controlling Class, over the interests
of the Holders of one or more other Classes of the Certificates or to the Companion Loan Holders, and (v) shall have no liability
whatsoever to the Trust, any Certificateholder or any other Person for having so acted as set forth in clauses (i)
through (iv) above, and no Certificateholder may take any action whatsoever against the Directing Certificateholder, the
Controlling Class or any director, officer, employee, partner, member, shareholder, agent or principal of the Directing Certificateholder
or the Controlling Class, as applicable, for having so acted.

 

Section
9.03     Rights and Powers of the Directing Certificateholder.

 

(a)                
Notwithstanding anything herein to the contrary, except as set forth in, and in any event
subject to, Section 3.28(e), Section 9.03(b), Section 9.03(c) and the second (2nd) and third
(3rd) paragraphs of this Section 9.03(a), (i) the Servicer shall not be permitted to take any of the actions constituting
a Major Decision unless it has obtained the consent of the applicable Special Servicer (after delivery of a written recommendation
and analysis to such Special Servicer and information reasonably requested by such Special Servicer) unless such actions are part
of an Asset Status Report approved by the Directing Certificateholder under Section 3.26(b) or is otherwise implemented
by such Special Servicer in accordance with the terms of this Agreement and (ii) prior to the occurrence and continuance of
a Control Event, the applicable Special Servicer shall not be permitted to (A) consent to the Servicer’s taking any of the
actions constituting a Major Decision, or (B) itself take any of the actions constituting a Major Decision, but subject to Section 3.26(b)
as to which the Directing Certificateholder has objected in writing within ten (10) Business Days after receipt of the written
recommendation and analysis and information reasonably requested by the Directing Certificateholder from such Special Servicer
(provided that if such written objection has not been received by such Special

 

    	-225-

    	 

    

 

Servicer within such ten (10) Business Day
period, then the Directing Certificateholder shall be deemed to have approved such action). In the event that the applicable Special
Servicer or Servicer, as applicable, determines that immediate action, with respect to a Major Decision, or any other matter requiring
consent of the Directing Certificateholder prior to the occurrence and continuance of a Control Event under this Agreement (or
consultation with the Directing Certificateholder after the occurrence and during the continuance of a Control Event, but prior
to the occurrence of a Consultation Termination Event), is necessary to protect the interests of the Certificateholders, the applicable
Special Servicer or Servicer, as the case may be, may take any such action without waiting for the Directing Certificateholder’s
response (or without such consultation) so long as the Servicer or such Special Servicer, as applicable, has made a reasonable
effort to contact the Directing Certificateholder to inform it of such need. The applicable Special Servicer is not required to
obtain the consent of the Directing Certificateholder for any Major Decision upon the occurrence and during the continuance of
a Control Event; provided, however, that after the occurrence and during the continuance of a Control Event but prior
to the occurrence of a Consultation Termination Event, such Special Servicer shall not be required to obtain the consent of the
Directing Certificateholder but shall consult with the Directing Certificateholder in connection with any Major Decision (and such
other matters that are subject to consent, approval, direction or consultation rights of the Directing Certificateholder hereunder)
and to consider alternative actions recommended by the Directing Certificateholder in respect of such matters. In the event that
no Directing Certificateholder has been appointed or identified to the Servicer or the applicable Special Servicer, as applicable,
and the Servicer or such Special Servicer, as applicable, has attempted to obtain such information from the Certificate Administrator
and no such entity has been identified to the Servicer or such Special Servicer, as applicable, then until such time as the new
Directing Certificateholder is identified, the Servicer or such Special Servicer, as applicable, shall have no duty to consult
with, provide notice to, or seek the approval or consent of any such Directing Certificateholder as the case may be.

 

In addition, for so long as no
Control Event has occurred and is continuing, subject to Section 9.03(b), Section 9.03(c) and the immediately
following paragraph, the Directing Certificateholder may direct the applicable Special Servicer to take, or to refrain from taking,
such other actions with respect to the Mortgage Loans as the Directing Certificateholder may reasonably deem advisable.

 

If the applicable Special Servicer
or Servicer, as applicable, determines that a refusal to consent by the Directing Certificateholder or any objection, consultation
or direction or advice from the Directing Certificateholder, the Controlling Class Certificateholders or any other Person would
(A) otherwise require or cause such Special Servicer or Servicer, as applicable, to violate the terms of the Mortgage Loan Documents,
any Co-Lender Agreement, any applicable law, provisions of the Code resulting in an Adverse REMIC Event or this Agreement, (including
without limitation, actions inconsistent with Accepted Servicing Practices), or (B) expose any Certificateholder, the Servicer,
such Special Servicer, the Certificate Administrator, the Trustee or the Trust or their respective Affiliates, officers, directors
or agent to any claim, suit or liability, (C) result in the imposition of a tax upon the Trust (other than a tax on “net
income from foreclosure property”) or loss of REMIC status or (D) materially expand the scope of such Special Servicer’s,
the Servicer’s, the Trustee’s or the Certificate Administrator’s responsibilities hereunder, then such Special
Servicer or Servicer, as applicable, shall disregard such refusal to

 

    	-226-

    	 

    

 

consent, direction or advice and notify the Directing Certificateholder,
the Trustee, the Certificate Administrator and the 17g-5 Information Provider of its determination, including a reasonably detailed
explanation of the basis therefor. The taking of, or refraining from taking, any action by the Servicer or applicable Special Servicer
in accordance with the direction of or approval of the Directing Certificateholder that does not violate the Mortgage Loan Documents,
any Co-Lender Agreement, this Agreement, any applicable law, provisions of the Code resulting in an Adverse REMIC Event or Accepted
Servicing Practices or any other provisions of this Agreement, shall not result in any liability on the part of the Servicer or
such Special Servicer.

 

(b)                
Notwithstanding anything to the contrary contained herein (i) after the occurrence and
during the continuance of a Control Event, the Directing Certificateholder shall have no right to consent to or direct any action
taken or not taken by any party to this Agreement; (ii) after the occurrence and during the continuance of a Control Event
but so long as no Consultation Termination Event is continuing, the Directing Certificateholder shall remain entitled to receive
any notices, reports or information to which it is entitled pursuant to this Agreement, and the Servicer, applicable Special Servicer
and any other applicable party shall consult with the Directing Certificateholder in connection with any action to be taken or
refrained from taking to the extent set forth herein; and (iii) during the continuance of a Consultation Termination Event, the
Directing Certificateholder shall have no direction, consultation or consent rights hereunder and no right to receive any notices,
reports or information (other than notices, reports or information required to be delivered to all Certificateholders) or any other
rights as Directing Certificateholder, and the Controlling Class shall not be entitled to appoint a Directing Certificateholder.

 

If a Control Event no longer
exists, then the Directing Certificateholder shall regain all the consent and direction rights of the Directing Certificateholder
set forth in this Agreement.

 

(c)                
For purposes of determining the Directing Certificateholder, exercising any rights of the
Controlling Class or receiving Asset Status Reports or any other information under this Agreement other than Distribution Date
Statements, any holder of any interest in a Controlling Class Certificate who is a Borrower Affiliate, the Manager or an agent
or Affiliate of the foregoing, or is a Restricted Holder shall not be deemed to be a Holder or Beneficial Owner of the related
Controlling Class and shall not be entitled to exercise such rights or receive such information. If, as a result of the preceding
sentence, no Holder or Beneficial Owner of Controlling Class Certificates would be eligible to exercise such rights, there shall
be no Controlling Class.

 

(d)                
The Certificate Administrator shall, within five (5) Business Days after its determination
that a Control Event or a Consultation Termination Event has occurred or ceased to exist, post a notice of such occurrence or cessation
of a Control Event or Consultation Termination Event on the Certificate Administrator’s Website.

 

Section
9.04     Directing Certificateholder Contact with Servicer and Special Servicers.

 

    	-227-

    	 

    

 

Upon reasonable request, each
of the Servicer and the applicable Special Servicer shall, without charge, make a Servicing Officer available to answer questions
from the Directing Certificateholder (prior to the occurrence and continuance of a Control Event) regarding the performance and
servicing of the Mortgage Loans (or, in the case of such Special Servicer, such Special Servicer’s operational activities
on a platform level basis related to the servicing of any Mortgage Loan after a Servicing Transfer Event and the servicing of any
REO Property) for which the Servicer or such Special Servicer, as the case may be, is responsible.

 

Notwithstanding any provision
of this Agreement to the contrary, the failure of the Servicer or the applicable Special Servicer to disclose any information otherwise
required to be disclosed by it pursuant to this Agreement shall not constitute a breach of this Agreement if the Servicer or such
Special Servicer, as applicable, determines, in its reasonable and good faith judgment and consistent with Accepted Servicing Practices,
that such disclosure would constitute a waiver of the attorney-client privilege on behalf of the Trust or the Trust Fund or otherwise
materially harm the Trust or the Trust Fund.

 

ARTICLE
X

TERMINATION

 

Section
10.01           Termination.
(a) The respective obligations and responsibilities of the Servicer, the Special Servicers, the Depositor, the Certificate
Administrator and the Trustee created hereby with respect to the Certificates (other than the obligation to make certain payments
and to send certain notices to Certificateholders as hereinafter set forth) shall terminate immediately following the occurrence
of the last action required to be taken by the Certificate Administrator pursuant to this Article X on the Termination
Date; provided, however, that in no event shall the trusts created hereby continue beyond the expiration of twenty-one
years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to
the United Kingdom, living on the date hereof.

 

(b)                
The Trust Fund, including the Upper-Tier REMIC and the Lower-Tier REMIC shall be terminated
and the assets of the Lower-Tier REMIC shall be sold or otherwise disposed of in connection therewith, only pursuant to a “qualified
liquidation” within the meaning of Section 860F(a)(4)(A) of the Code providing for the actions contemplated by the provisions
hereof pursuant to which the applicable Notice of Termination is given by the Depositor or the Servicer and requiring that the
Trust Fund, including the Upper-Tier REMIC and the Lower-Tier REMIC (if not previously terminated) shall terminate on a Distribution
Date occurring not more than 90 days following the date of adoption of the plan of qualified liquidation. The notice mailed
by the Certificate Administrator pursuant to Section 10.01(d) shall constitute such plan of complete liquidation and
the date of such notice shall be specified in the final return of each Trust REMIC as the date of adoption of such plan of complete
liquidation. Notwithstanding the termination of the Trust REMICs, the Certificate Administrator shall be responsible for filing
the final tax returns for the Trust REMICs for the period ending with such termination, and shall retain books and records with
respect to the Trust REMICs for the same period of retention for which it maintains its own tax returns or other reasonable period.

 

    	-228-

    	 

    

 

(c)                
The obligations of the parties to this Agreement with respect to the Trust REMICs will terminate
upon the earliest of: (i) the final payment or other liquidation of the last outstanding Mortgage Loan remaining in the Trust
Fund and the disposition of all property acquired upon the foreclosure or deed in lieu of foreclosure with respect to the last
outstanding Mortgage Loan and the remittance to the Certificateholders of all funds due under this Agreement; or (ii) after
the Certificate Balance of all Certificates has been reduced to zero under circumstances set forth in this Agreement; or (iii) mutual
consent of the parties to this Agreement and all Certificateholders. The Certificate Administrator will give or cause to be given
written Notice of Termination of this Agreement to each Certificateholder and the final distribution under this Agreement will
be made only upon surrender and cancellation of the related Certificates at an office or agency specified in the Notice of Termination.

 

(d)                
Notice of any termination of the Trust Fund pursuant to this Section 10.01 shall
be mailed by the Certificate Administrator to Certificateholders, with a copy to the Servicer, each Special Servicer and each Rating
Agency at their addresses shown in the Certificate Registrar, as soon as practicable after the Certificate Administrator shall
have received, or been given a Notice of Termination but in any event not more than 30 days, and not less than 10 days,
prior to the Anticipated Termination Date. The notice mailed by the Certificate Administrator to affected Certificateholders shall:

 

(i)               
specify the Anticipated Termination Date on which the final distribution is anticipated to
be made to Holders of Certificates of the Classes specified therein;

 

(ii)               
specify the amount of any such final distribution, if known; and

 

(iii)              
state that the final distribution to Certificateholders will be made only upon presentation
and surrender of Certificates or affidavits meeting the requirement of Section 5.06(g) that such Certificates have
been lost or destroyed at the office of the Paying Agent therein specified.

 

If the Trust Fund is not terminated
on the Anticipated Termination Date for any reason, the Certificate Administrator shall promptly mail notice thereof to each affected
Certificateholder.

 

(e)                
Any funds not distributed on the Termination Date because of the failure of any Certificateholders
to tender their Certificates or deliver an affidavit in accordance with Section 5.06(g) shall be set aside and held
in trust for the account of the appropriate non-tendering Certificateholders, whereupon the Trust Fund shall terminate. If any
Certificates as to which notice of the Termination Date has been given pursuant to this Section 10.01 shall not have
been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall
mail a second notice to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender
their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If
within one year after the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their
Certificates. The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid

 

    	-229-

    	 

    

 

out of the assets
that remain held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall subject to escheatment law thereafter distribute such amounts to the Class R Certificateholders in respect
of the Trust Fund. No interest shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with this Section 10.01. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator. Notwithstanding anything herein to the contrary, for so
long as Wells Fargo Bank, National Association serves as Certificate Administrator, all funds held by the Certificate Administrator
shall remain uninvested.

 

ARTICLE
XI

MISCELLANEOUS PROVISIONS

 

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

 

Section
11.02           Limitation
on Rights of Certificateholders. The death or incapacity of any Certificateholder shall not operate to terminate this Agreement
or the Trust Fund, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take
any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations
and liabilities of the parties hereto or any of them.

 

No Certificateholder shall have
any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of
the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the
Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association;
nor shall any Certificateholder be under any liability to any third person by reason of any action taken by the parties to this
Agreement pursuant to any provision hereof.

 

No Certificateholder, solely
by virtue of its status as a Certificateholder, shall have any right to institute any suit, action or proceeding in equity or at
law upon or under or with respect to this Agreement or with respect to the Certificates or any Mortgage Loan, unless, with respect
to this Agreement, such Certificateholder previously shall have given to the Trustee a written notice of a Servicer Termination
Event and of the continuance thereof, as hereinbefore provided, and unless also the Holders of Certificates representing
25% of the aggregate Voting Rights of any affected Class of Certificates (excluding any Certificates owned by a Special Servicer
if such suit is against such Special Servicer) shall have made written request upon the Trustee to institute such action, suit
or proceeding in its own name as Trustee hereunder and

 

    	-230-

    	 

    

 

shall have offered to the Trustee such reasonable indemnity as it may require
against the costs, expenses and liabilities to be incurred therein or thereby (unless this Agreement or the Certificates obligates
or obligate the Trustee to take such action without such an indemnity), and the Trustee, for 60 days after its receipt of
such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding.
It is understood and intended, and expressly covenanted by each Certificateholder with every other Certificateholder and the Trustee,
that no one or more Holders of Certificates of any Class shall have any right in any manner whatever by virtue of any provision
of this Agreement or the Certificates to affect, disturb or prejudice the rights of the Holders of any other of such Certificates,
or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Agreement
or the Certificates, except in the manner herein or therein provided and for the equal, ratable and common benefit of all Holders
of Certificates of such Class. For the protection and enforcement of the provisions of this Section, each and every Certificateholder
and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

Section
11.03           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. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE
NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

The parties hereto hereby waive,
to the fullest extent permitted by law, the right to trial by jury in any action, proceeding or counterclaim, whether in contract,
tort or otherwise, relating directly or indirectly to this agreement or the transactions contemplated hereby.

 

Section
11.04           Notices.
All demands, notices and communications hereunder shall be in writing, shall be deemed to have been given upon receipt as follows:

 

If to the Trustee or Certificate Administrator,
to:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services

J.P. Morgan Chase Commercial Mortgage Securities Trust Series 2015-WPG 

Telephone: (410) 884-2000

Facsimile number: (410) 715-2380 

Email: trustadministrationgroup@wellsfargo.com
and cts.cmbs.bond.admin@wellsfargo.com

 

    	-231-

    	 

    

 

If to the Depositor, to:

J.P. Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue

31st Floor

New York, New York 10179

Attention: Kunal Singh

 

with a copy to:

J.P. Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue

32nd Floor

New York, New York 10179

Attention: Bianca A. Russo

Managing Director and Associate General Counsel

Facsimile number: (917) 464-6116

 

With additional copies to:

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Michael S. Gambro, Esq.

Telephone: (212) 504-6825

Facsimile number: (212) 504-6666

 

If to the Servicer, to:

KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Diane Haislip

Facsimile: (877) 379-1625

Email: diane_c_haislip@keybank.com

 

With a copy to:

Polsinelli PC

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Facsimile: (816) 753-1536

Email: KKohring@polsinelli.com

 

    	-232-

    	 

    

 

And with respect to any notice relating
to the Rating Agency Q&A Forum and Document Request Tool: RAInvRequest@wellsfargo.com

 

And with respect to any notice relating
to the Investor Q&A Forum: REAM_InvestorRelations@wellsfarfgo.com

 

With a copy to:

Wells Fargo Bank, National Association

Legal Department

301 S. College Street

Charlotte, North Carolina 28288-0166

Attention: Commercial Mortgage Servicing Legal Support

Facsimile number: (704) 383-0353

Reference: WP Glimcher Mall Trust 2015-WPG Mortgage Trust

 

With an additional copy to:

K&L Gates LLP

Hearst Tower, 47th Floor

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann, Esq.

Facsimile number: (704) 353-3190

 

If to the Pearlridge Special Servicer,
to:

KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Clark Rogers

Facsimile: (877) 379-1625

Email: clark_w_rogers@keybank.com

 

With a copy to:

Polsinelli PC

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Facsimile: (816) 753-1536

Email: KKohring@polsinelli.com

 

    	-233-

    	 

    

 

If to the Scottsdale Special Servicer,
to:

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, CA 92660

Attention: Vice President – Commercial Servicing Operations

Telephone: (949) 219-3715 

Facsimile number: (949) 219-6570 

Email: Michelle.Stickles@pacificlife.com

  

With a copy to:

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, CA 92660

Attention: Chris Dallas, AVP, Investment Counsel

Telephone: (949) 219-6703 

Facsimile number: (949) 219-3706 

Email: Chris.Dallas@pacificlife.com

 

If to the Initial Purchasers:

J.P. Morgan Securities LLC

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: CMBS

Facsimile number: (212) 834-6250

 

with a copy to:

J.P. Morgan Securities LLC

383 Madison Avenue, 32nd Floor

New York, New York 10179

Attention: Bianca A. Russo

Managing Director and Associate General Counsel

Facsimile number: (917) 464-6116

 

With additional copies to:

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Michael S. Gambro, Esq.

Telephone: (212) 504-6825

Facsimile number: (212) 504-6666

 

and

  

    	-234-

    	 

    

 

			Deutsche Bank Securities Inc.

 

and

 

			Drexel Hamilton, LLC

77 Water Street, Suite 701

New York, New York 10005

Attention: John D. Kerin, Director of Debt Syndicate

Facsimile number: (646) 412-1500

 

If to any Certificateholder, to:

the applicable address set forth in the

Certificate Register as of the related Record Date,

 

or, in the case of the parties to this Agreement,
to such other address as such party shall specify by written notice to the other parties hereto.

 

Section
11.05     Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then, to the extent permitted by applicable law, such covenants, agreements, provisions or terms shall
be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect
the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof.

 

Section
11.06     Notice
to the Depositor and Each Rating Agency. (a) The Certificate Administrator shall use reasonable efforts promptly to provide
notice to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 8.14,
with respect to each of the following of which it has actual knowledge:

 

(i)               
any material change or amendment to this Agreement;

 

(ii)              
the occurrence of any Termination Event that has not been cured;

 

(iii)            
the merger, consolidation, resignation or termination of the Servicer, a Special Servicer,
the Certificate Administrator or the Trustee;

 

(iv)            
the final payment to any Class of Certificateholders;

 

(v)             
any change in the location of the Upper-Tier Distribution Account or the Lower-Tier Distribution
Account; and

 

(vi)             
each report to Certificateholders described in Section 3.13 and Section 4.02.

 

    	-235-

    	 

    

 

(b)               
The Servicer shall use reasonable efforts to promptly provide notice to the 17g-5 Information
Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 8.14 with respect to each
of the following of which it has actual knowledge:

 

(i)                
each of its annual statements as to compliance described in Section 3.14;

 

(ii)               
each of its annual independent public accountants’ servicing reports described in Section 3.16;

 

(iii)             
upon request, a copy of each rent roll and each operating and other financial statement and
occupancy reports, to the extent such information is required to be delivered under a Mortgage Loan, in each case to the extent
collected pursuant to Section 3.03;

 

(iv)              
a copy of any notice with respect to a breach of a representation or warranty with respect
to any Mortgage Loan;

 

(v)               
the repurchase of Mortgage Loans pursuant to Section 2.03(c);

 

(vi)              
any notice required in connection with the written consent of the Rating Agencies, as set
forth in Section 6.02 as to the merger or consolidation, transfer of assets and succession of either the Servicer
or the applicable Special Servicer, as applicable, in each case, such merger or consolidation subject to Rating Agencies Confirmation;

 

(vii)            
any notice to the Rating Agencies required in connection with the consent required to be
obtained by the Rating Agencies in connection with the assumption of a Mortgage Loan, as provided in Section 3.09;
any change in the lien priority of a Mortgage Loan;

 

(viii)           
any material damage to a Mortgaged Property;

 

(ix)             
any amendment, modification, consent or waiver to or of any material provision of a Mortgage
Loan; 

 

(x)               
any material amendments to or termination of any Management Agreement; and

 

(xi)              
notice in connection with the release or substitution of any collateral in accordance with
the terms of this Agreement.

 

(c)                 The
Trustee, the Certificate Administrator, the Servicer and the applicable Special Servicer, as applicable, shall furnish to the
17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 8.14,
with respect to each Mortgage Loan such information as any Rating Agency shall reasonably request and which the Trustee, the
Certificate Administrator, the Servicer or applicable Special Servicer, can reasonably provide in accordance with applicable
law and without waiving any attorney-client privilege relating to such information or violating the terms of this Agreement
or any Mortgage Loan Documents. The Trustee, the Certificate Administrator, the Servicer and the applicable Special Servicer,
as

 

    	-236-

    	 

    

 

applicable, may include any
reasonable disclaimer it deems appropriate with respect to such information. Notwithstanding anything to the contrary herein,
nothing in this Section 11.06 shall require a party to provide duplicative notices or copies to the Rating Agencies
with respect to any of the above listed items or to the extent that such Rating Agency requested the information via the Rating
Agency Q&A Forum.

 

(d)                
Notices to each Rating Agency shall be addressed as follows:

 

 Standard & Poor’s Ratings Services

 55 Water Street, 41st Floor

 New York, New York 10041

 Attention: Commercial Mortgage Surveillance Manager

 Email: cmbs_info_17g5@standardandpoors.com

 

 Morningstar Credit Ratings,
LLC

 220 Gibraltar Road, Suite 200

 Horsham, Pennsylvania 19044

 Email: cmbsratings@morningstar.com

 

or in each case to such other address as either
Rating Agency shall specify by written notice to the parties hereto. In addition, with respect to any request for Rating Agency
Confirmation pursuant to any of the provisions of this Agreement, the party seeking such Rating Agency Confirmation shall deliver
a copy of such request to the Depositor.

 

Section
11.07     Amendment.

 

(a)               
This Agreement may be amended from time to time by the parties hereto, without the consent
of any of the Certificateholders:

 

(i)               
to correct any inconsistency, defect or ambiguity in this Agreement or to correct any manifest
error in any provision of this Agreement;

 

(ii)               
to cause the provisions in this Agreement to conform or be consistent with or in furtherance
of the statements made in the Offering Circular with respect to the Certificates, the Trust or this Agreement or to correct or
supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)             
to change the timing and/or nature of deposits in the Collection Account, the Distribution
Accounts, the Interest Reserve Account or any REO Account, provided that (a) the Servicer Remittance Date shall in
no event be later than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect
in any material respect the interests of any Certificateholder, as evidenced by (1) an Opinion of Counsel (at the expense of the
party requesting such amendment or at the expense of the Trust Fund if the requesting party is the Trustee or the Certificate
Administrator) or (2) Rating Agency Confirmation from each Rating Agency;

 

(iv)             
to modify, eliminate or add to any of its provisions to such extent as shall be necessary
to maintain the qualification of any of the Lower-Tier REMIC or the Upper-

 

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Tier REMIC as a REMIC, at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any of the Lower-Tier REMIC or
the Upper-Tier REMIC that would be a claim against the Trust Fund or any of the Lower-Tier REMIC or the Upper-Tier REMIC; provided
that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or
minimize the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect
the interests of any Certificateholder;

 

(v)               
to modify, eliminate or add to the provisions of Article V or any other provision
hereof restricting transfer of the Class R Certificates; provided, that the Depositor has determined that such change
shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee, provided
that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)              
to make any other provisions with respect to matters or questions arising under this Agreement
or any other change; provided that the required action shall not adversely affect in any material respect the interests
of any Certificateholder not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency
Confirmation from each Rating Agency;

 

(vii)            
to amend or supplement any provision hereof to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from each Rating
Agency; provided that such amendment or supplement shall not adversely affect in any material respect the interests of
any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)         
to modify the provisions of Section 3.06(b) (with respect to reimbursement of
Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator,
the Trustee and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder
determine that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform
to such industry standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier
REMIC as a REMIC, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation;
and

 

(ix)               
to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of
the Exchange Act; provided that such modification does not materially increase the obligations of the Trustee, the Certificate
Administrator, the Paying Agent, the 17g-5 Information Provider, the Servicer or a Special Servicer without such party’s
consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt
of Rating Agency Confirmation from each Rating Agency for the rating on such Certificates; and provided, further,
that

 

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the
Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website.

 

Notwithstanding the foregoing, no such amendment
may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan
Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party
beneficiary hereunder, without the consent of the Mortgage Loan Seller.

 

(b)                
This Agreement may also be amended from time to time by the parties hereto with the consent
of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class;
provided, however, that no such amendment shall:

 

(i)                
reduce in any manner the amount of, or delay the timing of, payments which are required to
be distributed on any Certificate without the consent of the Holder of such Certificate; or

 

(ii)               
reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment without the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)              
adversely affect the Voting Rights of any Class of Certificates without the consent of the
Holders of all Certificates of such Class then outstanding; or

 

(iv)             
change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the
obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage
Loan Seller as a third party beneficiary hereunder, without the consent of the Mortgage Loan Seller; or

 

(v)              
amend Accepted Servicing Practices without the consent of 100% of the Certificateholders
or receipt of Rating Agency Confirmation from each Rating Agency.

 

(c)                
Notwithstanding the foregoing, none of the Certificate Administrator, the Trustee, the Paying
Agent, the Depositor, the Servicer nor the applicable Special Servicer will be required to consent to any amendment hereto without
having first received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted
hereunder and that such amendment or the exercise of any power granted to the Servicer, such Special Servicer, the Depositor, the
Trustee, the Certificate Administrator, the Paying Agent or any other specified person in accordance with such amendment will not
result in the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the
Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

(d)                
Promptly after the execution of any amendment to this Agreement, the Certificate Administrator
shall post a copy of the same to the Certificate Administrator’s

 

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Website, deliver a copy of the same to the 17g-5 Information
Provider who shall post a copy of the same on the Certificate Administrator’s Website, and thereafter, the Certificate Administrator
shall furnish written notification of the substance of such amendment to each Certificateholder, the Depositor, the Servicer, the
applicable Special Servicer, the Borrowers, the Initial Purchasers and the Rating Agencies.

 

No amendment to this Agreement
may alter the definition of Accepted Servicing Practices in a manner that would materially adversely affect Certificateholders
without a Rating Agency Confirmation.

 

If neither the Depositor nor
any successor thereto, if any, is in existence, any amendment under this Section 11.07 shall be effective with the
consent of the Certificate Administrator and the Servicer, in writing, and to the extent required by this Section, the Certificateholders.
Promptly after the execution of any amendment, the Certificate Administrator shall furnish written notification of the substance
of such amendment to each Certificateholder.

 

It shall not be necessary for
the consent of Certificateholders under this Section 11.07 to approve the particular form of any proposed amendment,
but it shall be sufficient if such consent shall approve the substance thereof. The method of obtaining such consents and of evidencing
the authorization of the execution thereof by Certificateholder shall be subject to such reasonable regulations as the Certificate
Administrator may prescribe; provided, however, that such method shall always be by affirmation and in writing.

 

Section
11.08     Confirmation
of Intent. It is the express intent of the parties hereto that the conveyance of the Trust Fund (including the Mortgage Loans),
collectively, by the Depositor to the Trustee on behalf of Certificateholders as contemplated by this Agreement and the sale by
the Depositor of the Certificates be, and be treated for all purposes as, a sale by the Depositor of the undivided portion of the
beneficial interest in the Trust Fund represented by the Certificates. It is, further, not the intention of the parties that such
conveyance be deemed a pledge of the Trust Fund by the Depositor to the Trustee to secure a debt or other obligation of the Depositor.
However, if, notwithstanding the intent of the parties, the Trust Fund is held to continue to be property of the Depositor then
(a) this Agreement shall also be deemed to be a security agreement under applicable law; (b) the transfer of the Trust
Fund provided for herein shall be deemed to be a grant by the Depositor to the Trustee on behalf of Certificateholders of a first
priority security interest in all of the Depositor’s right, title and interest in and to the Trust Fund and all amounts payable
to the holders of the Mortgage Loans in accordance with the terms thereof and all proceeds of the conversion, voluntary or involuntary,
of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts from time to
time held or invested in the Collection Account, the Lower-Tier Distribution Account and the Upper-Tier Distribution Account whether
in the form of cash, instruments, securities or other property; (c) the possession by the Trustee (or the Custodian on its
behalf) of Notes and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall
be deemed to be “possession by the secured party” for purposes of perfecting the security interest pursuant to Section 9-305
of the Minnesota and New York Uniform Commercial Code; and (d) notifications to Persons holding such property, and acknowledgments,
receipts or confirmations from Persons holding such property, shall be deemed notifications to, or

 

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acknowledgments, receipts or
confirmations from, financial intermediaries, bailees or agents (as applicable) of the Trustee for the purpose of perfecting such
security interest under applicable law. Any assignment of the interest of the Trustee pursuant to any provision hereof shall also
be deemed to be an assignment of any security interest created hereby. The Depositor shall, and upon the request of the Servicer,
the Trustee shall, to the extent consistent with this Agreement (and at the expense of the Trust Fund), take such actions as may
be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest
would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout
the term of this Agreement. It is the intent of the parties that such a security interest would be effective whether any of the
Certificates are sold, pledged or assigned.

 

Section
11.09      Streit
Act. Any provisions required to be contained in this Agreement by Section 126 and/or Section 130k or Article 4A
of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition to those conferred or
imposed by this Agreement; provided, however, that to the extent that such Section 126 and/or Section 130k
shall not have any effect, and if said Section 126 and/or Section 130k should at any time be repealed or cease to apply
to this Agreement or be construed by judicial decision to be inapplicable, said Section 126 and/or Section 130 k shall
cease to have any further effect upon the provisions of this Agreement. In case of a conflict between the provisions of this Agreement
and any mandatory provisions of Article 4A of the New York Real Property Law, such mandatory provisions of said Article 4A
shall prevail, provided that if said Article 4A shall not apply to this Agreement, should at any time be repealed,
or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, such mandatory provisions of such
Article 4A shall cease to have any further effect upon the provisions of this Agreement.

 

Section
11.10     No
Intended Third Party Beneficiaries. No Person other than a party to this Agreement and any Certificateholder (and the Initial
Purchasers, with respect to their right to receive certain reports and other information as set forth in this Agreement) shall
have any rights with respect to the enforcement of any of the rights or obligations hereunder. Without limiting the foregoing,
the parties to this Agreement specifically state that no Borrower, property manager or other party to a Mortgage Loan is an intended
third party beneficiary of this Agreement.

 

Section
11.11     Cooperation
with the Mortgage Loan Sellers with Respect to Rights Under the Loan Agreements. It is expressly agreed and understood that,
notwithstanding the assignment of the Mortgage Loan Documents, the Mortgage Loan Seller shall get the benefit of the provisions
of Section 9.2 of each Loan Agreement. Therefore, the Depositor and Trustee hereby agree to cooperate with the Mortgage Loan
Seller with respect to the benefits of such provisions of each Loan Agreement with respect to securitization indemnification, including,
without limitation, reassignment to the Mortgage Loan Sellers of such sections, but no other portion of the Mortgage Loan Documents,
to permit the Mortgage Loan Seller and its affiliates to enforce such provisions for their respective benefits.

 

Section
11.12     Compliance
with the Patriot Act. In order to comply with the laws, rules, regulations and executive orders in effect from time to time
applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering

 

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(“Applicable
Laws”), each of the Servicer and the applicable Special Servicer may be required to obtain, verify and record certain
information relating to individuals and entities which maintain a business relationship with the Servicer or such Special Servicer,
as applicable.  Accordingly, each of the parties to this Agreement agrees to provide to the Servicer and the applicable Special
Servicer, upon its respective request from time to time such identifying information and documentation as may be available for
such party in order to enable the Servicer and such Special Servicer to comply with Applicable Laws.

 

ARTICLE
XII

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section
12.01     Intent
of the Parties; Reasonableness The parties hereto acknowledge and agree that the purpose of Article XII of this
Agreement is, among other things, to facilitate compliance by any Other Depositor with the provisions of Regulation AB and the
related rules and regulations of the Commission. Except as expressly required by Sections 12.07, 12.08 and 12.09,
the Depositor shall not, and no Other Depositor may, exercise its rights to request delivery of information or other performance
under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act
and the Sarbanes-Oxley Act. The parties hereto acknowledge that interpretations of the requirements of Regulation AB may change
over time due to interpretive guidance provided by the Commission or its staff, and agree to comply with reasonable requests made
by the Depositor, or any Other Depositor, in good faith for delivery of information under these provisions on the basis of such
evolving interpretations of Regulation AB. In connection with the WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through
Certificates, Series 2015-WPG, and any Companion Loan Securities, each of the parties to this Agreement shall cooperate fully with
the Depositor, the Certificate Administrator, any Other Depositor and any Other Exchange Act Reporting Party, as applicable, to
deliver to the Depositor or Other Depositor, as applicable (including any of its assignees or designees), any and all statements,
reports, certifications, records and any other information in its possession or reasonably available to it and necessary in the
reasonable good faith determination of the Depositor, the Certificate Administrator, any Other Depositor or any Other Exchange
Act Reporting Party, as applicable, to permit any Other Depositor to comply with the provisions of Regulation AB, together with
such disclosures relating to the Servicer, the applicable Special Servicer, the Certificate Administrator and the Trustee, as applicable,
and any sub-servicer, or the servicing of the Whole Loans, reasonably believed by the Depositor or any Other Depositor, as applicable,
in good faith to be necessary in order to effect such compliance.

 

Section
12.02     Succession;
Sub-Servicers; Subcontractors. (a)  For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act (in addition to any requirements contained in Section 12.07 of this Agreement), in connection with
the succession to the Servicer or the applicable Special Servicer or any sub-servicer (to the extent such sub-servicer is a “servicer”
meeting the criteria contemplated by Item 1108(a)(2) of Regulation AB) under this Agreement by any Person (i) into which the
Servicer or applicable Special Servicer or such sub-servicer may be merged or consolidated, or (ii) which may be appointed
as a successor to the Servicer or such Special Servicer or any such sub-servicer, the

 

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Servicer or such Special Servicer, as applicable
(depending on whether such succession involves it or one of its sub-servicers), shall provide (other than in the case of a succession
pursuant to an appointment under Section 7.01 or 7.02, in which case the successor Servicer or successor Special
Servicer, as applicable, shall provide) to any Other Depositor as to which the applicable Companion Loan is affected, at least
five (5) Business Days prior to the effective date of such succession or appointment as long as such disclosure prior to such
effective date would not be violative of any applicable law or confidentiality agreement (and as long as such notice is not given
by a successor Servicer or successor Special Servicer appointed under Section 7.01 or 7.02), and otherwise no
later than one (1) Business Day after such effective date of succession, (x) written notice to the Depositor and each such
Other Depositor of such succession or appointment and (y) in writing and in form and substance reasonably satisfactory to
each such Other Depositor, all information relating to such successor Servicer reasonably requested by any such Other Depositor
in order to comply with its reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under
the Exchange Act are required to be filed under the Exchange Act).

 

(b)                
For so long as any Other Securitization Trust is subject to the reporting requirements of
the Exchange Act, each of the Servicer, the applicable Special Servicer, any sub-servicer and the Certificate Administrator (each
of the Servicer, the applicable Special Servicer and the Certificate Administrator and each sub-servicer, for purposes of this
Section 12.02(b) and Section 12.02(c), a “Servicing Party”) is permitted to utilize one or
more Subcontractors to perform certain of its obligations hereunder. Such Servicing Party shall promptly upon request provide to
any Other Depositor as to which the applicable Companion Loan is affected, a written description (in form and substance satisfactory
to each such Other Depositor) of the role and function of each Subcontractor that is a Servicing Function Participant utilized
by such Servicing Party during the preceding calendar year, specifying (i) the identity of such Subcontractor, and (ii) which
elements of the Servicing Criteria will be addressed in assessments of compliance provided by each such Subcontractor. Each Servicing
Party shall cause any Subcontractor utilized by such Servicing Party that is determined to be a Servicing Function Participant
to comply with the provisions of Section 12.08 and Section 12.09 of this Agreement to the same extent as
if such Subcontractor were such Servicing Party. Such Servicing Party shall obtain from each such Subcontractor (or, in the case
of each sub-servicer set forth on Exhibit N, shall use commercially reasonable efforts to obtain from such sub-servicer)
and deliver to the applicable Persons any assessment of compliance report and related accountant’s attestation required to
be delivered by such Subcontractor under Section 12.08 and Section 12.09 of this Agreement, in each case,
as and when required to be delivered.

 

(c)                
For so long as any Other Securitization Trust is subject to the reporting requirements of
the Exchange Act, notwithstanding the foregoing, if a Servicing Party engages a Subcontractor in connection with the performance
of any of its duties under this Agreement, such Servicing Party shall be responsible for determining whether such Subcontractor
is a “servicer” within the meaning of Item 1101 of Regulation AB and whether such Subcontractor meets the criteria
in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB. If a Servicing Party determines, pursuant to the preceding sentence,
that such Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation AB and meets the criteria in
Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB, then such Subcontractor shall be deemed to be a sub-servicer for purposes
of this Agreement, and the engagement of such sub-servicer shall not be effective unless and until

 

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notice is given to the Depositor
and the Certificate Administrator, as well as any Other Depositor as to which the applicable Companion Loan is affected, of any
such sub-servicer and sub-servicing agreement. No sub-servicing agreement (other than such agreements set forth on Exhibit S
hereto) shall be effective until five (5) Business Days after such written notice is received by the Depositor, the Certificate
Administrator and each such Other Depositor. Such notice shall contain all information reasonably necessary, and in such form as
may be necessary, to enable each Other Exchange Act Reporting Party as to which the applicable Companion Loan is affected, to accurately
and timely report the event under Item 6.02 of Form 8-K pursuant to the related Other Pooling and Servicing Agreement or otherwise
(if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

(d)                
For so long as any Other Securitization Trust is subject to the reporting requirements of
the Exchange Act, in connection with the succession to the Trustee or Certificate Administrator under this Agreement by any Person
(i) into which the Trustee or Certificate Administrator may be merged or consolidated, or (ii) which may be appointed
as a successor to the Trustee or Certificate Administrator, the Trustee or Certificate Administrator, as applicable, shall notify
the Depositor and each Other Depositor, at least ten (10) Business Days prior to the effective date of such succession or appointment
(or if such prior notice would be violative of applicable law or any applicable confidentiality agreement, no later than the time
required under Section 12.06 of this Agreement) and shall furnish pursuant to Section 12.06 of this Agreement
to each Other Depositor in writing and in form and substance reasonably satisfactory to the Depositor and each Other Depositor,
all information reasonably necessary for each Other Exchange Act Reporting Party to accurately and timely report the event under
Item 6.02 of Form 8-K pursuant to the related Other Pooling and Servicing Agreement or otherwise (if such reports under the Exchange
Act are required to be filed under the Exchange Act).

 

Section
12.03     Other
Securitization Trust’s Filing Obligations. For so long as any Other Securitization Trust is subject to the reporting
requirements of the Exchange Act, the Servicer, the applicable Special Servicer, the Certificate Administrator and the Trustee
shall (and shall cause (or, in the case of each sub-servicer set forth on Exhibit N, shall use commercially reasonable
efforts to cause) each Additional Servicer and Servicing Function Participant utilized thereby to) reasonably cooperate with each
Other Depositor in connection with the satisfaction of each Other Securitization Trust’s reporting requirements under the
Exchange Act. 

 

Section
12.04     Form
10-D Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
within one Business Day after the related Distribution Date (using commercially reasonable efforts), but in no event later than
noon (New York City time) on the third Business Day after the related Distribution Date, (i) the parties as set forth on Exhibit R
to this Agreement, shall be required to provide to each Other Exchange Act Reporting Party and each Other Depositor to which the
particular Additional Form 10-D Disclosure is relevant for Exchange Act reporting purposes, to the extent a Servicing Officer or
Responsible Officer thereof has knowledge thereof (other than information required by Item 1117 of Regulation AB as to
such party which shall be reported if actually known by any Servicing Officer or Responsible Officer, as the case may be, or any
lawyer in the in-house legal department of such party), in EDGAR-compatible format (to the extent available to such party in such
format), or in such other format as otherwise agreed upon by each such Other Exchange Act Reporting Party, each such Other Depositor
and such parties, the form and substance of the

 

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Additional Form 10-D Disclosure, if applicable, and (ii) the parties
listed on Exhibit R to this Agreement shall include with such Additional Form 10-D Disclosure application to such
party and shall cause each sub-servicer (or, in the case of each sub-servicer set forth on Exhibit N, shall use commercially
reasonable efforts to cause such sub-servicer) and Subcontractor of such party to the extent required under Regulation AB
to provide, and if received, include, an Additional Disclosure Notification in the form attached as Exhibit U to this
Agreement. The Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by the parties
listed on Exhibit R to this Agreement of their duties under this paragraph or proactively solicit or procure from such parties
any Additional Form 10-D Disclosure information. 

 

Section
12.05     Form
10-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
no later than March 1, commencing in March 2016, (i) the parties listed on Exhibit S to this Agreement shall be required
to provide (and with respect to any Servicing Function Participant of such party (other than any party to this Agreement), shall
cause such Servicing Function Participant to provide) to each Other Exchange Act Reporting Party and each Other Depositor to which
the particular Additional Form 10-K Disclosure is relevant for Exchange Act Reporting purposes, to the extent a Servicing Officer
or a Responsible Officer, as the case may be, thereof has actual knowledge (other than information required by Item 1117 of Regulation
AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible Officer, as the case may
be, or any lawyer in the in house legal department of such party), in EDGAR compatible format (to the extent available to such
party in such format) or in such other format as otherwise agreed upon by each such Other Exchange Act Reporting Party, each such
Other Depositor and such providing parties, the form and substance of any Additional Form 10-K Disclosure described on Exhibit
S to this Agreement applicable to such party, and (ii) the parties listed on Exhibit S to this Agreement shall
include with such Additional Form 10-K Disclosure applicable to such party and shall cause each sub-servicer (or, in the case of
each sub-servicer set forth on Exhibit N, shall use commercially reasonable efforts to cause such sub-servicer) and Subcontractor
of such party to the extent required under Regulation AB to provide, and if received, include, an Additional Disclosure Notification
in the form attached as Exhibit U to this Agreement. The Certificate Administrator has no duty under this Agreement to monitor
or enforce the performance by the parties listed on Exhibit S to this Agreement of their duties under this paragraph or
proactively solicit or procure from such parties any Additional Form 10-K Disclosure information. 

 

Section
12.06     Form
8-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
to the extent a Servicing Officer or Responsible Officer thereof has actual knowledge of such event (other than Item 1117
of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible Officer, as
the case may be, or any lawyer in the in-house legal department of such party), within one Business Day after the occurrence of
an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”) (using commercially reasonable
efforts), but in no event later than 1:00 p.m. (New York City time) on the second Business Day after the occurrence of a Reportable
Event, (i) the parties set forth on Exhibit T to this Agreement shall be required to provide (and (i) with respect
to any Servicing Function Participant of such party that is a sub-servicer set forth on Exhibit N, shall use commercially

 

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reasonable efforts to cause such Servicing Function Participant to provide, and (ii) with respect to any other Servicing Function
Participant of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to provide)
to each Other Depositor and each Other Exchange Act Reporting Party to which the particular Form 8-K Disclosure Information is
relevant for Exchange Act reporting purposes, in EDGAR-compatible format (to the extent available to such party in such format)
or in such other format as otherwise agreed upon by each such Other Depositor, each such Other Exchange Act Reporting Party and
such providing parties, any Form 8-K Disclosure Information described on Exhibit T to this Agreement as applicable to such
party, if applicable, and (ii) the parties listed on Exhibit T to this Agreement shall include with such Form 8-K Disclosure
Information applicable to such party and shall cause each sub-servicer (or, in the case of each sub-servicer set forth on Exhibit
N, shall use commercially reasonable efforts to cause such sub-servicer) and Subcontractor of such party to the extent required
under Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached hereto as
Exhibit U. The Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by
the parties listed on Exhibit T of their duties under this paragraph or proactively solicit or procure from such parties
any Form 8-K Disclosure Information.

 

Section
12.07     Annual
Compliance Statements. On or before March 15 of each year, commencing in 2016, each of the Servicer, the applicable Special
Servicer (regardless of whether such Special Servicer has commenced special servicing of any Whole Loan) and, for so long as any
Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator, at its
own expense, shall furnish (and each such party, (i) with respect to each Servicing Function Participant that is a sub-servicer
set forth on Exhibit N with which it has entered into a servicing relationship with respect to a Whole Loan, shall
use commercially reasonable efforts to cause such Servicing Function Participant to furnish, and (ii) with respect to any
other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing Function
Participant to furnish) (each such Servicing Function Participant and each of the Servicer, applicable Special Servicer and the
Certificate Administrator, a “Certifying Servicer”) to the Certificate Administrator and the 17g-5 Information
Provider (who shall post it to the Certificate Administrator’s Website and the 17g-5 Information Provider’s Website,
as applicable, pursuant to Section 8.13(b)), the Trustee, the Depositor and the Companion Loan Holders (or, in the
case of a Companion Loan that is part of an Other Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting
Party), an Officer’s Certificate stating, as to the signer thereof, that (A) a review of such Person’s activities
during the preceding calendar year or portion thereof and of such Person’s performance under this Agreement or the applicable
sub-servicing agreement, as applicable, has been made under such officer’s supervision and (B) to the best of such officer’s
knowledge, based on such review, such Person has fulfilled all its obligations under this Agreement or the applicable sub-servicing
agreement, as applicable, in all material respects throughout such year or portion thereof, or, if there has been a failure to
fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status
thereof. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, promptly after
receipt of each such Officer’s Certificate, the Depositor (and, in the case of a Companion Loan that is part of an Other
Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party) may review each such Officer’s
Certificate and, if applicable, consult with the Certifying Servicer, as applicable, as to the nature of any failures by

 

    	-246-

    	 

    

 

such Certifying
Servicer, respectively, or any related Servicing Function Participant with which the Servicer or the applicable Special Servicer,
as applicable, has entered into a servicing relationship with respect to a Mortgage Loan or a Companion Loan in the fulfillment
of any Certifying Servicer’s obligations hereunder or under the applicable sub-servicing or primary servicing agreement.
The obligations of each Certifying Servicer under this Section apply to each such Certifying Servicer that serviced a Mortgage
Loan or a Companion Loan during the applicable period, whether or not the Certifying Servicer is acting in such capacity at the
time such Officer’s Certificate is required to be delivered. Copies of all Officer’s Certificates delivered pursuant
to this Section 12.07 shall be made available to any Privileged Person by the Certificate Administrator by posting
such compliance report to the Certificate Administrator’s Website pursuant to Section 8.13(b).

 

Section
12.08     Annual
Reports on Assessment of Compliance with Servicing Criteria. (a) On or before March 15 of each year, commencing in 2016,
the Servicer, the applicable Special Servicer (regardless of whether such Special Servicer has commenced special servicing of any
Whole Loan) and, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the
Certificate Administrator, each at its own expense, shall furnish (and each such party, (i) with respect to each Servicing
Function Participant that is a sub-servicer set forth on Exhibit N with which it has entered into a servicing relationship
with respect to a Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish,
and (ii) with respect to any other Servicing Function Participant of such party (other than any party to this Agreement),
shall cause such Servicing Function Participant to furnish) (each Servicer, the applicable Special Servicer, the Certificate Administrator
and any Servicing Function Participant, as the case may be, a “Reporting Servicer”) to the Certificate Administrator
and the 17g-5 Information Provider (who shall post it to the Certificate Administrator’s Website and the 17g-5 Information
Provider’s Website, as applicable, pursuant to Section 8.13(b)), the Trustee, the Depositor and the Companion
Loan Holders (or, in the case of a Companion Loan that is part of an Other Securitization Trust, the applicable Other Depositor
and Other Exchange Act Reporting Party), a report on an assessment of compliance with the Relevant Servicing Criteria that contains
(A) a statement by such Reporting Servicer of its responsibility for assessing compliance with the Relevant Servicing Criteria,
(B) a statement that, to the best of such Reporting Servicer’s knowledge, such Reporting Servicer used the Servicing
Criteria to assess compliance with the Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance
with the Relevant Servicing Criteria as of the end of and for the preceding calendar year, including, if there has been any material
instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof
and (D) a statement that a registered public accounting firm that is a member of the American Institute of Certified Public
Accountants has issued an attestation report on such Reporting Servicer’s assessment of compliance with the Relevant Servicing
Criteria as of and for such period. Copies of all compliance reports delivered pursuant to this Section 12.08 shall
be provided to any Certificateholder, upon the written request therefor, by the Certificate Administrator.

 

Each such report shall be addressed
to the Depositor and each Other Depositor (if addressed) and signed by an authorized officer of the applicable company, and shall
address each of the Relevant Servicing Criteria. For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, promptly after receipt of each such report, the

 

    	-247-

    	 

    

 

Depositor and each Other Depositor may review each such report
and, if applicable, consult with the Reporting Servicers as to the nature of any material instance of noncompliance with the Relevant
Servicing Criteria.

 

(b)                
On the Closing Date, the Servicer, the applicable Special Servicer and the Certificate Administrator
each acknowledge and agree that Exhibit M to this Agreement sets forth the Relevant Servicing Criteria for such party.

 

(c)                
No later than 30 days after the end of each fiscal year for the Trust, the Servicer, the applicable
Special Servicer and, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
the Certificate Administrator shall notify the Certificate Administrator, the Depositor, each Other Exchange Act Reporting Party
and each Other Depositor as to the name of each Servicing Function Participant utilized by it, in each case, and each such notice
will specify what specific Servicing Criteria will be addressed in the report on assessment of compliance prepared by such Servicing
Function Participant. When the Servicer, the applicable Special Servicer and, for so long as any Other Securitization Trust is
subject to the reporting requirements of the Exchange Act, the Certificate Administrator submit their assessments pursuant to Section 12.08(a)
of this Agreement, such parties, as applicable, will also at such time include the assessment (and related attestation pursuant
to Section 12.09) of each Servicing Function Participant engaged by it. The fiscal year for the Trust shall be January
1 through and including December 31 of each calendar year.

 

(d)                
In the event the Servicer, the applicable Special Servicer or, for so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator is terminated or resigns pursuant
to the terms of this Agreement, such party shall provide, and each such party shall cause (or, if the Servicing Function Participant
is a sub-servicer set forth on Exhibit N, shall use commercially reasonable efforts to cause) any Servicing Function
Participant engaged by it to provide (and the Servicer, the applicable Special Servicer and the Certificate Administrator shall,
with respect to any Servicing Function Participant that resigns or is terminated under any applicable servicing agreement, cause
such Servicing Function Participant to provide) an annual assessment of compliance pursuant to this Section 12.08,
coupled with an attestation as required in Section 12.09 in respect of the period of time that the Servicer, the applicable
Special Servicer or, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
the Certificate Administrator was subject to this Agreement or the period of time that the Servicing Function Participant was subject
to such other servicing agreement.

 

Section
12.09     Annual
Independent Public Accountants’ Servicing Report. On or before March 15 of each year, commencing in 2016, the Servicer,
the applicable Special Servicer and, for so long as any Other Securitization Trust is subject to the reporting requirements of
the Exchange Act, the Certificate Administrator, each at its own expense, shall cause (and each such party, (i) with respect
to each Servicing Function Participant that is a sub-servicer set forth on Exhibit N with which it has entered into
a servicing relationship with respect to a Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function
Participant to furnish, and (ii) with respect to any other Servicing Function Participant of such party (other than any party
to this Agreement), shall cause such Servicing Function Participant to furnish) a registered public accounting firm (which may
also render other services to the Servicer, the

 

    	-248-

    	 

    

 

applicable Special Servicer, the Certificate Administrator or the applicable Servicing
Function Participant, as the case may be) and that is a member of the American Institute of Certified Public Accountants to furnish
a report to the Certificate Administrator (who shall post it to the Certificate Administrator’s Website pursuant to Section 8.13(b)),
the Depositor, the Companion Loan Holders (or, in the case of a Companion Loan that is part of an Other Securitization Trust, the
applicable Other Depositor and Other Exchange Act Reporting Party) and the 17g-5 Information Provider (who shall post it to the
17g-5 Information Provider’s Website pursuant to Section 8.13(b)), to the effect that (i) it has obtained
a representation regarding certain matters from the management of such Reporting Servicer, which includes an assessment from such
Reporting Servicer of its compliance with the Relevant Servicing Criteria and (ii) on the basis of an examination conducted
by such firm in accordance with standards for attestation engagements issued or adopted by the Public Company Accounting Oversight
Board, it is expressing an opinion as to whether such Reporting Servicer’s assessment of compliance with the Servicing Criteria
was fairly stated in all material respects, or it cannot express an overall opinion regarding such party’s assessment of
compliance with the Relevant Servicing Criteria. In the event that an overall opinion cannot be expressed, such registered public
accounting firm shall state in such report why it was unable to express such an opinion. Each accountant’s attestation report
required hereunder shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and
the Exchange Act. Such report must be available for general use and not contain restricted use language. Copies of all statements
delivered pursuant to this Section 12.09 shall be made available to any Privileged Person by the Certificate Administrator
posting such statement on the Certificate Administrator’s Website pursuant to Section 8.13(b).

 

For so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, promptly after receipt of such report from the Servicer, the
applicable Special Servicer, the Certificate Administrator or any Servicing Function Participant, the Depositor and each Other
Depositor may review the report and, if applicable, consult with the Servicer, such Special Servicer or, for so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator as to the nature
of any defaults by the Servicer, such Special Servicer, the Certificate Administrator or any Servicing Function Participant with
which it has entered into a servicing relationship with respect to a Mortgage Loan or any Companion Loan, as the case may be, in
the fulfillment of any of the Servicer’s, such Special Servicer’s, the Certificate Administrator’s or the applicable
Servicing Function Participants’ obligations hereunder or under the applicable sub-servicing agreement.

 

Section
12.10     Significant
Obligor. With respect to any Companion Loan that the applicable Other Depositor has notified the Servicer in writing that the
Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to
an Other Securitization Trust that includes such Companion Loan, the Servicer shall, after receipt of updated net operating income
information for the Mortgaged Property, (x) promptly deliver the financial statements of such “significant obligor”
to the Other Depositor and Other Exchange Act Reporting Party of such Other Securitization Trust and (y) update the following
columns related to the “significant obligor” of the CREFC® Loan Periodic Update File for (i) the
next applicable Distribution Date if the Servicer receives such updated net operating income information at least ten (10) Business
Days prior to the Determination Date related to such Distribution Date or

 

    	-249-

    	 

    

 

(ii) the second succeeding Distribution Date if
the Master Servicer does not receive such updated net operating income information prior to the date set forth in clause (i):
BB, BP, BT and BU (corresponding fields 54 – “Preceding Fiscal Year NOI,” 68 – “Most Recent NOI,”
72 – “Most Recent Financial As of Start Date” and 73 – “Most Recent Financial As of End Date”),
as such column references and field numbers may change from time to time.

 

If the Servicer does not receive
financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of such
“significant obligor” within ten Business Days after the date such financial information is required to be delivered
under the Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust
that includes a related Companion Loan (and shall cause each applicable sub-servicing agreement to require any related sub-servicer
to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Accepted Servicing
Practices (taking into account, in addition, the ongoing reporting obligations of such Other Depositor under the Exchange Act)
to obtain the periodic financial statements of the applicable Borrower under the Mortgage Loan Documents.

 

The Servicer shall (and shall
cause each applicable sub-servicing agreement to require any related sub-servicer to) retain written evidence of each instance
in which it (or a sub-servicer) attempts to contact the applicable Borrower to obtain the required financial information and is
unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required
to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts
to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified
in the related Other Pooling and Servicing Agreement.

 

Section
12.11     Sarbanes-Oxley
Backup Certification. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange
Act, the Certificate Administrator, the Servicer and the applicable Special Servicer shall provide (and with respect to any other
Servicing Function Participant of such party, shall cause such Servicing Function Participant to provide) to the Person who signs
the Sarbanes-Oxley Certification with respect to such Other Securitization Trust (the “Certifying Person”) no
later than March 15 of the year following the year to which the Form 10-K of such Other Securitization Trust relates or, if March
15 is not a Business Day, on the immediately following Business Day, a certification in the form attached to this Agreement as
Exhibit W, on which the Certifying Person, the entity for which the Certifying Person acts as an officer, and such
entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification Parties”)
can reasonably rely. In the event any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement, or any
applicable sub-servicing agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide a
certification to the Certifying Person pursuant to this Section 12.11 with respect to the period of time it was subject
to this Agreement or the applicable sub-servicing or primary servicing agreement, as the case may be.

 

Section
12.12     Indemnification.
Each of the Servicer, the applicable Special Servicer, the Certificate Administrator and the Trustee shall indemnify and hold harmless
the Depositor, each Other Depositor and any employee, director or officer of the Depositor or any

 

    	-250-

    	 

    

 

Other Depositor from and against
any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs
and expenses incurred by such indemnified party arising out of (i) an actual breach by the Servicer, the applicable Special
Servicer, the Certificate Administrator or the Trustee, as the case may be, of its obligations under this Article XII
or (ii) negligence, bad faith or willful misconduct on the part of the Servicer, the applicable Special Servicer, the Certificate
Administrator or the Trustee, as applicable, in the performance of such obligations.

 

The Servicer, the applicable
Special Servicer and the Certificate Administrator shall cause each Servicing Function Participant of such party that is not a
sub-servicer set forth on Exhibit N (and with respect to any Servicing Function Participant of such party that is a
sub-servicer set forth on Exhibit N, shall use commercially reasonable efforts to cause such Servicing Function Participant)
to indemnify and hold harmless the Depositor, each Other Depositor and any employee, director or officer of the Depositor or any
Other Depositor from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and
related costs, judgments and any other costs, fees and expenses incurred by such indemnified party arising out of (i) a breach
of its obligations to provide any of the annual compliance statements or annual servicing criteria compliance reports or attestation
reports pursuant to the applicable sub-servicing agreement or (ii) negligence, bad faith or willful misconduct its part in
the performance of such obligations or (iii) any failure by a Servicing Party (as defined in Section 12.02(b))
to identify a Servicing Function Participant pursuant to Section 12.02(c).

 

If the indemnification provided
for in, or contemplated by, either of the prior two paragraphs is unavailable or insufficient to hold harmless the Depositor, any
Other Depositor or any employee, director or officer of the Depositor or any Other Depositor, then the Servicer, the applicable
Special Servicer, the Certificate Administrator, the Trustee, the Additional Servicer or other Servicing Function Participant (the
“Performing Party”) shall contribute to the amount paid or payable to the indemnified party as a result of the
losses, claims, damages or liabilities of the indemnified party in such proportion as is appropriate to reflect the relative fault
of the indemnified party on the one hand and the Performing Party on the other in connection with a breach of the Performing Party’s
obligations pursuant to this Article XII (or breach of its obligations under the applicable sub-servicing agreement
to provide any of the annual compliance statements or annual servicing criteria compliance reports or attestation reports) or the
Performing party’s negligence, bad faith or willful misconduct in connection therewith.

 

The Servicer, the applicable
Special Servicer and the Certificate Administrator shall cause each Servicing Function Participant of such party that is not a
sub-servicer set forth on Exhibit N (and with respect to any Servicing Function Participant of such party that is a
sub-servicer set forth on Exhibit N, shall use commercially reasonable efforts to cause such Servicing Function Participant)
to agree to the foregoing indemnification and contribution obligations. This Section 12.11 shall survive the termination
of this Agreement or the earlier resignation or removal of the Servicer, the applicable Special Servicer or the Certificate Administrator.

 

Section
12.13     Amendments.
This Article XII may be amended by the parties hereto pursuant to Section 10.01 of this Agreement for purposes
of complying with Regulation AB, the Securities Act or the Exchange Act and/or to conform to standards developed within the commercial
mortgage-backed securities market and the Sarbanes-Oxley Act without any

 

    	-251-

    	 

    

 

Opinions of Counsel, Officer’s Certificates, Rating
Agency Confirmations or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this Agreement.

 

Section
12.14     Termination
of the Certificate Administrator. Notwithstanding anything to the contrary contained in this Agreement, the Depositor or any
Other Depositor may terminate the Certificate Administrator upon five Business Days’ notice if the Certificate Administrator
fails to comply with any of its obligations under this Article XII; provided that such termination shall not
be effective until a successor Certificate Administrator shall have accepted the appointment.

 

Section
12.15     Termination
of Sub-Servicing Agreements. For so long as any Other Securitization Trust is subject to the reporting requirements of the
Exchange Act, each of the Servicer, the Certificate Administrator and the Trustee, as applicable, shall (i) cause each sub-servicing
agreement to which it is a party to entitle the Depositor or any Other Depositor to terminate such agreement (without compensation,
termination fee or the consent of any other Person) at any time following any failure of the applicable sub-servicer to any deliver
any Exchange Act reporting items that such sub-servicer is required to deliver under Regulation AB or as otherwise contemplated
by this Article XII and (ii) promptly notify the Depositor and any Other Depositor following any failure of the
applicable sub-servicer to deliver any Exchange Act reporting items that such sub-servicer is required to deliver under Regulation
AB or as otherwise contemplated by this Article XII. The Depositor and any Other Depositor is hereby authorized to
exercise the rights described in clause (i) of the preceding sentence in its sole discretion. The rights of the Depositor
and any Other Depositor to terminate a sub-servicing agreement as aforesaid shall not limit any right the Servicer, the Certificate
Administrator or the Trustee, as applicable, may have to terminate such sub-servicing agreement.

 

Section
12.16     Notification
Requirements and Deliveries in Connection with Securitization of a Companion Loan. (a)  Any other provision of this
Article XII to the contrary notwithstanding, including, without limitation, any deadlines for delivery set forth in
this Article XII, in connection with the requirements contained in this Article XII that provide for the
delivery of information and other items to, and the cooperation with, the Other Depositor and Other Exchange Act Reporting Party
of any Other Securitization Trust that includes a Companion Loan, no party hereunder shall be obligated to provide any such items
to or cooperate with such Other Depositor or Other Exchange Act Reporting Party (i) until the Other Depositor or Other Exchange
Act Reporting Party of such Other Securitization Trust has provided each party hereto with not less than 30 days written notice
(which shall only be required to be delivered once), setting forth the contact information for such Person(s) and, except as regards
the deliveries and cooperation contemplated by Section 12.07, Section 12.08 and Section 12.09
of this Agreement, stating that such Other Securitization Trust is subject to the reporting requirements of the Exchange Act, and
(ii) specifying in reasonable detail the information and other items not otherwise specified in this Agreement that are requested
to be delivered; provided that if Exchange Act reporting is being requested, such Other Depositor or Other Exchange Act
Reporting Party is only required to provide a single written notice to such effect. Any reasonable cost and expense of the Servicer,
the applicable Special Servicer, Trustee and Certificate Administrator in cooperating with such Other Depositor or Other Exchange
Act Reporting Party of such Other Securitization Trust (above and beyond their expressed duties hereunder) shall be the responsibility
of such Other Depositor or Other Securitization Trust. The

 

    	-252-

    	 

    

 

parties hereto shall have the right to confirm in good faith with the
Other Depositor of such Other Securitization Trust as to whether applicable law requires the delivery of the items identified in
this Article XII to such Other Depositor and Other Exchange Act Reporting Party of such Other Securitization Trust
prior to providing any of the reports or other information required to be delivered under this Article XII in connection
therewith and (i) upon such confirmation, the parties shall comply with the deadlines for delivery set forth in this Article XII
with respect to such Other Securitization Trust or (ii) in the absence of such confirmation, the parties shall not be required
to deliver such items; provided that no such confirmation will be required in connection with any delivery of the items
contemplated by Section 12.07, Section 12.08 and Section 12.09 of this Agreement. Such confirmation
shall be deemed given if the Other Depositor or Other Exchange Act Reporting Party for the Other Securitization Trust provides
a written statement to the effect that the Other Securitization Trust is subject to the reporting requirements of the Exchange
Act and the appropriate party hereto receives such written statement. The parties hereunder shall also have the right to require
that such Other Depositor provide them with the contact details of such Other Depositor, Other Exchange Act Reporting Party and
any other parties to the Other Pooling and Servicing Agreement relating to such Other Securitization Trust.

 

(b)                
Each of the Servicer, the applicable Special Servicer, the Certificate Administrator and the
Trustee shall, upon reasonable prior written request given in accordance with the terms of Section 12.16(a) above,
and subject to a right of the Servicer, the applicable Special Servicer, the Certificate Administrator or Trustee, as the case
may be, to review and approve such disclosure materials, permit the Companion Loan Holders to use such party’s description
contained in the Offering Circular (updated as appropriate by the Servicer, the applicable Special Servicer, Certificate Administrator
or Trustee, as applicable, at the reasonable cost of the Other Depositor) for inclusion in the disclosure materials relating to
any securitization of a Companion Loan.

 

(c)                
The Servicer, the applicable Special Servicer, the Certificate Administrator and the Trustee,
upon reasonable prior written request given in accordance with the terms of Section 12.16(a) above, shall each timely
provide (to the extent the reasonable cost thereof is paid or caused to be paid by the requesting party) to the Other Depositor
and any underwriters with respect to any securitization transaction that includes a Companion Loan such opinion(s) of counsel,
certifications and/or indemnification agreement(s) with respect to the updated description referred in Section 12.16(b)
with respect to such party, substantially identical to those, if any, delivered by the Servicer, such Special Servicer, the Trustee
or the Certificate Administrator, as the case may be, or their respective counsel, in connection with the information concerning
such party in the Offering Circular and/or any other disclosure materials relating to this Trust (updated as deemed appropriate
by the Servicer, such Special Servicer, the Trustee or the Certificate Administrator, or their respective legal counsel, as the
case may be, and sufficient to comply with Regulation AB). None of the Servicer, the Special Servicers, the Trustee or the Certificate
Administrator shall be obligated to deliver any such item with respect to the securitization of a Companion Loan if it did not
deliver a corresponding item with respect to this Trust.

 

    	-253-

    	 

    

 

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

	 	 	 	 
	 	
J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES
    

CORP., as Depositor

	 	 	 
	 	By:	/s/
    Dwayne McNicholas
	 	 	Name:	Dwayne
    McNicholas
	 	 	Title:	Vice President

	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION, as Servicer

	 	 	 	 
	 	By:	/s/
    Diane Haislip
	 	 	Name:	Diane
    Haislip
	 	 	Title:	Senior Vice President

	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION, as Pearlridge Special Servicer

	 	 	 	 
	 	By:	/s/
    Diane Haislip
	 	 	Name:	Diane
    Haislip
	 	 	Title:	Senior Vice President

 

    	 

    	 

    

   

	 	 	 	 
	 	PACIFIC LIFE INSURANCE CORPORATION, as Scottsdale Special Servicer

	 	 	 	 
	 	By:	/s/
    L. Lisa Fields
	 	 	Name:	L. Lisa Fields
	 	 	Title:	Assistant Vice President

	 	 	 	 
	 	By:	/s/
    DeAnne A. Reed 
	 	 	Name:	DeAnne A. Reed
	 	 	Title:	Assistant Secretary

	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Certificate Administrator, Custodian, Certificate Registrar and Authenticating Agent

	 	 	 	 
	 	By:	/s/
    Amy Mofsenson
	 	 	Name:	Amy Mofsenson
	 	 	Title:	Vice President

	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

	 	 	 	 
	 	By:	/s/
    Amy Mofsenson
	 	 	Name:	Amy Mofsenson
	 	 	Title:	Vice President

 

    	 

    	 

    

 

	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY NEW YORK	)	 

  

On
this 14th day of July 2015, before me, the undersigned, a Notary Public in and for the State of New York,
duly commissioned and sworn, personally appeared Dwayne McNicholas, to me known who, by me duly sworn, did depose and
acknowledge before me and say that he/she is a Vice President of J.P. Morgan Chase Commercial Mortgage Securities
Corp., a Delaware corporation, the corporation described in and that executed the foregoing instrument; and that he/she
signed his/her name thereto under authority of the board of directors of said corporation and on behalf of such company.

 

WITNESS my hand and seal hereto
affixed the day and year first above written.

 

	 	/s/ Michael A. Cuomo
	 	Print Name:
	 	NOTARY PUBLIC

 

My Commission expires:

 

	[NOTARIAL SEAL] 	MICHAEL
    A. CUOMO
	 	Notary
    Public, State of New York
	 	Qualified
    in New York County
	 	No.02CU6268078
	 	My
    Commission Expires August 27, 2016

 

JPM
2015-WPC – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF  Kansas	)	 
	 	)	ss.:
	COUNTY Johnson	)	 

 

On this 15 day of
July 2015, before me, the undersigned, a Notary Public in and for the State of Kansas, duly commissioned and sworn,
personally appeared Diane Haislip, to me known who, by me duly sworn, did depose and acknowledge before me and say that
he/she is a Senior Vice President of KeyBank National Association, a national banking association, the national banking association
described in and that executed the foregoing instrument; and that he/she signed his/her name thereto under authority of the
board of directors of said national banking association and on behalf of such national banking association.

 

WITNESS my hand and seal hereto
affixed the day and year first above written.

 

	 	/s/ Jane Burton
	 	Print Name:
	 	NOTARY PUBLIC

 

	Jane
    Burton	 
	NOTARY
    PUBLIC	 
	STATE
    OF KANSAS	 
	My
    Commission Expires	 
	03/08/2016	 

  

My Commission expires:

[NOTARIAL SEAL]

 

JPM
2015-WPG – Pooling and Servicing Agreement

 

    	 

    	 

    

 

ACKNOWLEDGMENT

	 
	A
    notary public or other officer completing this certificate verifies only the identity of the individual(s) who signed the document
    to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

 

	STATE OF CALIFORNIA	)	 
	 	)	ss. at Newport Beach
	COUNTY OF ORANGE	)	 

 

On
July 14, 2015, before me, Suzanne Kathleen Potter, Notary Public, personally appeared L. Lisa Fields and DeAnne Reed,who proved
to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within instrument and acknowledged
to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the person, or
the entity upon behalf of which the persons acted, executed the instrument.

I certify
under PENALTY OF PERJURY under the laws of the State of California, that the foregoing paragraph is true and
correct.

WITNESS
my hand and official seal.

	 	 	 
	 	/s/ Suzanne Kathleen Potter
	 	Name:
	 	Notary Public in and for said State
	 	 
	 	My Commission Expires:	SUZANNE KATHLEEN POTTER
	 		Commission # 2078890
	 	[NOTARY
SEAL]	Notary Public - California
	 	 	Orange County
	 	 	My Comm. Expires Aug 21,
    2018
	 	 	 

 

    	 

    	 

    

  

	STATE OF 	)	 
	 	)	ss.:
	COUNTY 	)	 

 

On
this 16th day of July 2015, before me, the undersigned, a Notary Public in and for the State of New York, duly
commissioned and sworn, personally appeared Amy Mofsenson, to me known who, by me duly sworn, did depose and acknowledge
before me and say that he/she is a Vice President of Wells Fargo Bank,
National Association, a national banking association, the national banking association described in and that executed the
foregoing instrument; and that he/she signed his/her name thereto under authority of the board of directors of said national
banking association and on behalf of such national banking association. 

 

WITNESS my hand and seal hereto
affixed the day and year first above written.

 

	 	/s/ Janet M. Jolley
	 	Print Name:
	 	NOTARY PUBLIC

  

 My Commission expires:

 

	[NOTARIAL SEAL]	JANET M. JOLLEY
	 	Notary Public, State of New York
	 	No. 01JO6121000
	 	Qualified in Kings County
	 	Commission Expires Jan. 3,
    2017

  

JPM
2015-WPG – Pooling and Servicing Agreement

 

    	 

    	 

    

 

EXHIBIT
A-1

 

EXHIBIT
A-1

 

FORM OF CLASS A CERTIFICATES

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1 For Book-Entry Certificates
only.

 

    	A-1-1

    	 

    

 

[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING
OF REGULATION S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).

 

 

 

2 For Regulation S Book-Entry Certificates only.

 

    	A-1-2

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS A

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5 [DEFINITIVE]6 CERTIFICATE

 

Pass-Through Rate: 3.6332%

 

	First Distribution Date: August
    7, 2015	 	 
	 	 	 
	Aggregate Initial 

    Certificate Principal Amount of the

    Class A Certificates:

    $30,600,000	 	Rated Final

    Distribution Date: June 2035
	 	 	 
	CUSIP:

        92939VAA23

        U46030AA74

        92939VAB07

         
	 	ISIN: 

    US92939VAA263

    USU46030AA734

    US92939VAB097
	Common Code:

    

    1249124823

    1249118344

     	 	Initial Certificate Principal Amount of
    this Certificate:

    $[   ]
	No.: A-[   ]	 	 

 

This certifies that [   ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to each
of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust
by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby. The

 

 

 

3 For Rule 144A Book-Entry
Certificates only.

 

4 For Regulation S Book-Entry
Certificates only.

 

5 For Book-Entry Certificates
only.

 

6 For Definitive Certificates
only.

 

7 For IAI Certificates only.

 

 

    	A-1-3

    	 

    

 

Certificates
consist of the following classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3
and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing
Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class A Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check mailed by first class mail to the address set forth therefor in the Certificate Register or, provided

 

    	A-1-4

    	 

    

 

that
such Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business
Days prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder
at a bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each
Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee
or its agent (which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders
of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer (executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V

 

    	A-1-5

    	 

    

 

of
the Pooling and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements
of Article V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and duly authenticate in the
name of the designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate
Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the Certificate Registrar in accordance
with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)        to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)      to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC; provided that the Trustee and the Certificate
Administrator have received an

 

    	A-1-6

    	 

    

 

Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)        to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)      to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating Agency;
provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator, the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying Agent,
the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided, further,
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating

 

    	A-1-7

    	 

    

 

Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)        amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate Administrator, the Paying Agent or any other specified person in accordance with such

 

    	A-1-8

    	 

    

 

amendment
will not result in the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or
cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-1-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-1-10

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-1-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-1-12

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-1-13

    	 

    

 

EXHIBIT
A-2

 

FORM OF CLASS X CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1
For Book-Entry Certificates only.

 

    	A-2-1

    	 

    

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

THIS CERTIFICATE IS NOT ENTITLED TO
PAYMENTS OF PRINCIPAL. 

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

 

2
For Regulation S Book-Entry Certificates only.

 

    	A-2-2

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS X

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5 [DEFINITIVE]6 CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date: August 7, 2015	 	 
	 	 	 
	Aggregate
        Initial

        Notional Amount of the

        Class X Certificates:

        $97,000,000

         
	 	Rated Final

    Distribution Date: June 2035
	CUSIP:

    92939VAC83

    U46030AB54

    92939VAD67	 	ISIN:

    US92939VAC813

    USU46030AB564

    US92939VAD647
	 	 	 
	Common Code:

    

    1249118003

    1249124584	 	Initial Notional Amount of this Certificate:

    $[   ]
	 

                                No.: X-[   ]
	 	 

 

This certifies that [   ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to each
of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust
by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms,

 

 

 

3
For Rule 144A Book-Entry Certificates only.

 

4
For Regulation S Book-Entry Certificates only.

 

5
For Book-Entry Certificates only.

 

6
For Definitive Certificates only.

 

7 For IAI Certificates only.

 

    	A-2-3

    	 

    

 

provisions and conditions of the Pooling and Servicing Agreement and is bound thereby. The Certificates consist of
the following classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class
R (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class X Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check

 

    	A-2-4

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such
Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days
prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent
(which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer

 

    	A-2-5

    	 

    

 

(executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of
this Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)        to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)      to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-2-6

    	 

    

 

provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)        to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)      to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating Agency;
provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator, the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying Agent,
the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided, further,
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any

 

    	A-2-7

    	 

    

 

Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Loan Seller as a third party beneficiary under the
Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)        amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-2-8

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-2-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-2-10

    	 

    

 

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-2-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-2-12

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-2-13

    	 

    

 

EXHIBIT A-3

 

EXHIBIT
A-3

 

FORM OF CLASS B CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
1

 

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR
OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY
ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR
FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1
For Book-Entry Certificates only.

 

    	A-3-1

    	 

    

  

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).

 

 

 

2 For Regulation S Book-Entry Certificates only.

 

    	A-3-2

    	 

    

  

wp glimcher
mall TRUST 2015-Wpg

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS B

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5 [DEFINITIVE]6 CERTIFICATE

 

Pass-Through Rate: 3.6332% 

	First Distribution Date:  August 7, 2015		
	 	 	 
	Aggregate
Initial Certificate
 Principal Amount of the
 Class B
Certificates:
 $32,100,000
	 	Rated Final

Distribution Date: June 2035
	 	 	 
	CUSIP: 
 92939VAE43

U46030AC34
 92939VAF17
	 	ISIN:  
 US92939VAE483

USU46030AC304
 US92939VAF137

	 	 	 
	Common Code:
 
 1249118183

1249117884
	 	 Initial Certificate Principal
Amount of this Certificate:
 $[  ]

		 	 
	No.:  B-[  ]	 	 

This certifies that [ ] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class B Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to each of
two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust by
the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the
Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby. The 

 

 

3
For Rule 144A Book-Entry Certificates only.

4
For Regulation S Book-Entry Certificates only.

5
For Book-Entry Certificates only.

6
For Definitive Certificates only.

7
For IAI Certificates only. 

 

    	A-3-3

    	 

    

  

Certificates consist of the following
classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class R Certificates
(the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”).

 

This Certificate is issued pursuant
to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National
Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate Administrator.
To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing Agreement, the Pooling
and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any Certificate),
on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date, an amount equal
to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate) of that portion
of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of the Class represented
hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution Date”
shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date” shall
mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or, if
such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest Accrual
Period (as defined below), interest on the Class B Certificates will be calculated on the basis of a 360-day year consisting of
twelve 30-day months.

 

Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other than
the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall be made on
each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date by check
mailed by first class mail to the address set forth therefor in the Certificate Register or, provided

 

    	A-3-4

    	 

    

 

 

that such Certificateholder
shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days prior to the related
Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity
located in the United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made
in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent (which may
be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in accordance
with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of the appropriate
non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice of the Termination
Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for cancellation
in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the second notice
any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly or through an agent,
take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates. The costs and expenses
of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain held. If within two
years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying Agent shall pay to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue or be payable
to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its Certificate(s)
for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts transferred
to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment of such
funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Trustee.

 

As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and Servicing
Agreement together with an instrument of assignment or transfer (executed by the Holder or his duly authorized attorney), subject
to the requirements in Article V

 

    	A-3-5

    	 

    

 

of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of this
Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee
without the consent of any Certificateholder:

 

(i)         
to correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or
to correct any manifest error in any provision of the Pooling and Servicing Agreement;

 

(ii)              to cause the provisions of the Pooling and Servicing Agreement to conform or be consistent
with or in furtherance of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with any other provisions therein
or to correct any error;

 

(iii)             to change the timing and/or nature of deposits in the Collection Account, the Distribution
Accounts, the Interest Reserve Account or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be
later than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect in any material
respect the interests of any Certificateholder, as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting
such amendment or at the expense of the Trust Fund if the requesting party is the Trustee or the Certificate Administrator) or
(2) Rating Agency Confirmation from each Rating Agency; 

 

(iv)           
to modify, eliminate or add to any of its provisions to such extent as shall be necessary
to maintain the qualification of either the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or
the Upper-Tier REMIC that would be a claim against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC; provided
that the Trustee and the Certificate Administrator have received an

 

    	A-3-6

    	 

    

  

Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize
the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests
of any Certificateholder;

 

(v)           
to modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement
or any other provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided,
that the Depositor has determined that such change shall not give rise to any tax with respect to the transfer of the Class R Certificates
to a non-permitted transferee, provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)         
to make any other provisions with respect to matters or questions arising under the Pooling
and Servicing Agreement or any other change; provided that the required action shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt
of Rating Agency Confirmation from each Rating Agency;

 

(vii)        
to amend or supplement any provision of the Pooling and Servicing Agreement to the extent
necessary to maintain the then-current ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating
Agency Confirmation from such Rating Agency; provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)      
to modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect
to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the
Certificate Administrator, Trustee and, for so long as a Control Event has not occurred and is not continuing, the related Directing
Certificateholder, determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC
or the Lower-Tier REMIC as a REMIC, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency
Confirmation; and

 

(ix)      
to modify the procedures of the Pooling and Servicing Agreement relating to compliance with
Rule 17g-5 of the Exchange Act; provided that such modification does not materially increase the obligations of the Trustee, the
Certificate Administrator, the Paying Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such
party’s consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating

 

    	A-3-7

    	 

    

 

Agency for the rating on such Certificates; and provided, further, that the Certificate Administrator
shall give notice of any such amendment to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s
website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the
Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate not
less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

                                                                     
(i)               
reduce in any manner the amount of, or delay the timing of, payments which are required to
be distributed on any Certificate without the consent of the Holder of such Certificate; or

 

                                                                   
(ii)                
reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment without the consent of the Holders of all Certificates of such Class then outstanding; or

 

                                                                  
(iii)               
adversely affect the Voting Rights of any Class of Certificates without the consent of the
Holders of all Certificates of such Class then outstanding; or

 

                                                                 
(iv)               
change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the
obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage
Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller;
or

 

                                                                   
(v)               
amend Accepted Servicing Practices without the consent of 100% of the Certificateholders or
receipt of Rating Agency Confirmation from each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate Administrator, the Paying Agent or any other specified person in accordance with such

 

    	A-3-8

    	 

    

 

 amendment will not result
in the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created by the
Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken by
the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate of Authentication
on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent, by manual
signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any
purpose.

 

    	A-3-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-3-10

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	
        
	 	

         
	 	

         
	 	

         

	

         
	 	

	         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

	 		 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

 

    	A-3-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

  

    	A-3-12

    	 

    

  

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-3-13

    	 

    

  

EXHIBIT A-4

 

EXHIBIT
A-4

 

FORM OF CLASS C CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
1

 

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR
OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY
ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR
FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

1
For Book-Entry Certificates only.

 

    	A-4-1

    	 

    

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).

 

 

 

2
For Regulation S Book-Entry Certificates only.

 

 

    	A-4-2

    	 

    

  

wp glimcher
mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS C

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5 [DEFINITIVE]6 CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement. 

 

	First Distribution Date:  August 7, 2015	 	 
	 	 	 
	Aggregate Initial Certificate

Principal Amount of the

Class C Certificates:

$34,300,000	 	Rated Final

Distribution Date:  June 2035
	 	 	 
	CUSIP: 

92939VAG93

U46030AD14

92939VAH77	 	ISIN:  

    

    US92939VAG953

    USU46030AD134

    US92939VAH787
	 	 	 
	Common Code:

1249124233

1249117964	 	Initial Certificate Principal Amount of this Certificate:

$[  ]
	 	 	 
	No.:  C-[  ]	 	 

 

This certifies that [ ] is the
registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the
Class C Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to each of two
(2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust by the
Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms,

 

 

3
For Rule 144A Book-Entry Certificates only.

4
For Regulation S Book-Entry Certificates only.

5
For Book-Entry Certificates only.

6
For Definitive Certificates only.

7
For IAI Certificates only.

 

    	A-4-3

    	 

    

 

provisions and conditions of the Pooling and Servicing Agreement and is bound thereby. The Certificates consist of the following
classes: Class A, Class X, Class B, Class C, Class, PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3, Class R Certificates
(the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement are collectively
referred to herein as “Certificateholders”).

 

This Certificate is issued pursuant
to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National
Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate Administrator.
To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing Agreement, the Pooling
and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms of the
Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any Certificate),
on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date, an amount equal
to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate) of that portion
of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of the Class represented
hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution Date”
shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date” shall
mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or, if
such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest Accrual
Period (as defined below), interest on the Class C Certificates will be calculated on the basis of a 360-day year consisting of
twelve 30-day months.

 

Interest accrued on this Certificate
during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if any, will
be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other than
the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall be made on
each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date by check

 

    	A-4-4

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such Certificateholder
shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days prior to the related
Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity
located in the United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made
in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent (which may
be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in accordance
with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of the appropriate
non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice of the Termination
Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for cancellation
in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the second notice
any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly or through an agent,
take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates. The costs and expenses
of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain held. If within two
years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying Agent shall pay to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue or be payable
to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its Certificate(s)
for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts transferred
to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment of such
funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Trustee.

 

As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and Servicing
Agreement together with an instrument of assignment or transfer

 

    	A-4-5

    	 

    

  

(executed by the Holder or his duly authorized attorney), subject
to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of this
Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee
without the consent of any Certificateholder:

 

                                                                     
(i)               
to correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or
to correct any manifest error in any provision of the Pooling and Servicing Agreement;

 

                                                                   
(ii)               
to cause the provisions of the Pooling and Servicing Agreement to conform or be consistent
with or in furtherance of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with any other provisions therein
or to correct any error;

 

                                                                  
(iii)               
to change the timing and/or nature of deposits in the Collection Account, the Distribution
Accounts, the Interest Reserve Account or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be
later than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect in any material
respect the interests of any Certificateholder, as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting
such amendment or at the expense of the Trust Fund if the requesting party is the Trustee or the Certificate Administrator) or
(2) Rating Agency Confirmation from each Rating Agency;

 

                                                                 
(iv)               
to modify, eliminate or add to any of its provisions to such extent as shall be necessary
to maintain the qualification of either the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC
or the Upper-Tier REMIC that would be a claim against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-4-6

    	 

    

  

provided
that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize
the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests
of any Certificateholder;

 

                                                                   
(v)               
to modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement
or any other provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided,
that the Depositor has determined that such change shall not give rise to any tax with respect to the transfer of the Class R Certificates
to a non-permitted transferee, provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

                                                                 
(vi)               
to make any other provisions with respect to matters or questions arising under the Pooling
and Servicing Agreement or any other change; provided that the required action shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt
of Rating Agency Confirmation from each Rating Agency;

 

                                                                
(vii)               
to amend or supplement any provision of the Pooling and Servicing Agreement to the extent
necessary to maintain the then-current ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating
Agency Confirmation from such Rating Agency; provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

                                                              
(viii)               
to modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect
to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the
Certificate Administrator and the Trustee and, for so long as a Control Event has not occurred and is not continuing, the related
Directing Certificateholder, determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of the Upper-Tier
REMIC or the Lower-Tier REMIC as a REMIC, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating
Agency Confirmation; and

 

                                                                 
(ix)               
to modify the procedures of the Pooling and Servicing Agreement relating to compliance with
Rule 17g-5 of the Exchange Act; provided that such modification does not materially increase the obligations of the Trustee, the
Certificate Administrator, the Paying Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such
party’s consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any

 

    	A-4-7

    	 

    

  

Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency for the rating on such Certificates; and provided, further, that the Certificate Administrator
shall give notice of any such amendment to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s
website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the
Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate not
less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

                                                                     
(i)               
reduce in any manner the amount of, or delay the timing of, payments which are required to
be distributed on any Certificate without the consent of the Holder of such Certificate; or

 

                                                                   
(ii)               
reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment without the consent of the Holders of all Certificates of such Class then outstanding; or

 

                                                                  
(iii)              
adversely affect the Voting Rights of any Class of Certificates without the consent of the
Holders of all Certificates of such Class then outstanding; or

 

                                                                 
(iv)               
change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the
obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage
Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller;
or

 

                                                                   
(v)              
 amend Accepted Servicing Practices without the consent of 100% of the Certificateholders or
receipt of Rating Agency Confirmation from each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-4-8

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created by the
Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken by
the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate of Authentication
on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent, by manual
signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any
purpose.

 

    	A-4-9

    	 

    

  

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as the Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-4-10

    	 

    

 

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	
        
	 	

         
	 	

         
	 	

         

	

         
	 	

	         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

	 		 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

 

 

    	A-4-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-4-12

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-4-13

    	 

    

  

EXHIBIT
A-5

 

EXHIBIT
A-5

 

FORM OF CLASS R CERTIFICATES

 

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR
OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY
ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT TO A PERSON THE TRANSFEROR REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES.

 

THIS CERTIFICATE MAY NOT BE
PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN
THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED
IN SECTION 3(32) OF ERISA) THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE.

 

THIS CERTIFICATE REPRESENTS
A “RESIDUAL INTEREST” IN TWO “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G(a)(2) AND 860D OF THE CODE. EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED
THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS, NON-U.S. PERSONS OR AGENTS OF
EITHER, AS SET FORTH IN SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE
TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED ORGANIZATION,
AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5), OR AN AGENT (INCLUDING A BROKER, NOMINEE OR

 

    	A-5-1

    	 

    

 

OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED
ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS
TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C) IT UNDERSTANDS THAT IT MAY INCUR TAX LIABILITIES WITH RESPECT TO THIS CERTIFICATE
IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY BECOME
DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED
BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S. PERSON AND (F) IT WILL NOT TRANSFER
THIS CERTIFICATE TO ANY PERSON OR ENTITY THAT DOES NOT PROVIDE A SIMILAR AFFIDAVIT. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION
OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND
VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE THIS CERTIFICATE REPRESENTS MULTIPLE “NON-ECONOMIC RESIDUAL
INTERESTS,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c), TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR
FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE
TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND
EITHER TO TRANSFER AT A MINIMUM PRICE OR TO AN ELIGIBLE TRANSFEREE AS SPECIFIED IN TREASURY REGULATIONS.

 

    	A-5-2

    	 

    

  

wp glimcher
mall TRUST 2015-wpg

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS R

 

Percentage Interest: 100%

 

CUSIP: 92939VAJ3

ISIN: US92939VAJ35

No.: R-[ ]

 

This certifies that [_________]
is the registered owner of the Percentage Interest evidenced by this Certificate in the Trust Fund. The Class R Certificateholder
is not entitled to interest or principal distributions. The Class R Certificateholders will be entitled to receive the proceeds
of the remaining assets of the Upper-Tier REMIC and the Lower-Tier REMIC, if any, on the final Distribution Date for the Certificates,
after distributions in respect of any accrued but unpaid interest on the Certificates and after distributions in reduction of principal
balance have reduced the principal balances of the Certificates (other than the Class X Certificates) to zero. It is not anticipated
that there will be any assets remaining in the Upper-Tier REMIC or the Lower-Tier REMIC on the final Distribution Date following
the distributions on the Regular Certificates. The Trust Fund, described more fully below, consists primarily of the only note
with respect to each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real
estate held in trust by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be
serviced, pursuant to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the
acceptance hereof, assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.
The Certificates consist of the following classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class
SQ-2, Class SQ-3 and Class R Certificates (the “Certificates”; the Holders of Certificates issued under the
Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued pursuant
to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National
Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate Administrator.
To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing Agreement, the Pooling
and Servicing Agreement shall control.

 

This Certificate represents the
“residual interest” in two “real estate mortgage investment conduits,” as those terms are defined, respectively,
in Sections 860G(a)(2) and 860D of the Code.

 

    	A-5-3

    	 

    

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

All distributions (other than
the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall be made on
each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date by check
mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such Certificateholder
shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days prior to the related
Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity
located in the United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made
in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent (which may
be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in accordance
with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of the appropriate
non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice of the Termination
Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for cancellation
in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the second notice
any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly or through an agent,
take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates. The costs and expenses
of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain held. If within two
years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying Agent shall pay to
the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator shall thereafter
distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue or be payable
to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its Certificate(s)
for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts transferred
to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment of such
funds shall be for the benefit of the Certificate Administrator.

 

    	A-5-4

    	 

    

  

This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does not purport
to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Trustee.

 

As provided in the Pooling and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and Servicing
Agreement together with an instrument of assignment or transfer (executed by the Holder or his duly authorized attorney), subject
to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of this
Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee
without the consent of any Certificateholder:

 

                                                                     
(i)               
to correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or
to correct any manifest error in any provision of the Pooling and Servicing Agreement;

 

                                                                   
(ii)               
to cause the provisions of the Pooling and Servicing Agreement to conform or be consistent
with or in furtherance of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Pooling
and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with any other provisions therein
or to correct any error;

 

                                                                  
(iii)               
to change the timing and/or nature of deposits in the Collection Account, the Distribution
Accounts, the Interest Reserve Account or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be
later

 

    	A-5-5

    	 

    

  

than the Business Day prior to the related Distribution Date and (b) such change shall not adversely affect in any material
respect the interests of any Certificateholder, as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting
such amendment or at the expense of the Trust Fund if the requesting party is the Trustee or the Certificate Administrator) or
(2) Rating Agency Confirmation from each Rating Agency;

 

                                                                 
(iv)               
to modify, eliminate or add to any of its provisions to such extent as shall be necessary
to maintain the qualification of either the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or
the Upper-Tier REMIC that would be a claim against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC; provided
that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize
the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests
of any Certificateholder;

 

                                                                   
(v)               
to modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement
or any other provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided,
that the Depositor has determined that such change shall not give rise to any tax with respect to the transfer of the Class R Certificates
to a non-permitted transferee, provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

                                                                 
(vi)               
to make any other provisions with respect to matters or questions arising under the Pooling
and Servicing Agreement or any other change; provided that the required action shall not adversely affect in any material
respect the interests of any Certificateholder not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt
of Rating Agency Confirmation from each Rating Agency;

 

                                                                
(vii)               
to amend or supplement any provision of the Pooling and Servicing Agreement to the extent
necessary to maintain the then-current ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating
Agency Confirmation from such Rating Agency; provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

                                                              
(viii)               
to modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect
to reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the
Certificate Administrator and the Trustee and, for so long as a Control Event has not occurred and is not continuing, the related
Directing Certificateholder,

 

    	A-5-6

    	 

    

  

determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of the Upper-Tier
REMIC or the Lower-Tier REMIC as a REMIC, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating
Agency Confirmation; and

 

                                                                 
(ix)               
to modify the procedures of the Pooling and Servicing Agreement relating to compliance with
Rule 17g-5 of the Exchange Act; provided that such modification does not materially increase the obligations of the Trustee, the
Certificate Administrator, the Paying Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such
party’s consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders, as evidenced by (x) an Opinion of Counsel or (y) if any 

  

Certificate is then rated, receipt of Rating
Agency Confirmation from each Rating Agency for the rating on such Certificates; and provided, further, that the Certificate Administrator
shall give notice of any such amendment to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s
website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the
Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate not
less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

                                                                     
(i)               
reduce in any manner the amount of, or delay the timing of, payments which are required to
be distributed on any Certificate without the consent of the Holder of such Certificate; or

 

                                                                   
(ii)               
reduce the aforesaid percentage of Certificates of any Class the Holders of which are required
to consent to any such amendment without the consent of the Holders of all Certificates of such Class then outstanding; or

 

                                                                  
(iii)               
adversely affect the Voting Rights of any Class of Certificates without the consent of the
Holders of all Certificates of such Class then outstanding; or

 

                                                                 
(iv)               
change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the
obligations of the Mortgage Loan Seller under the

 

    	A-5-7

    	 

    

 

Mortgage
Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary under the Pooling
and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

                                                                   
(v)            amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding
the foregoing, none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the
Special Servicer will be required to consent to any amendment of the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the
Pooling and Servicing Agreement and that such amendment or the exercise of any power granted to the Servicer, the Special
Servicer, the Depositor, the Trustee, the Certificate Administrator, the Paying Agent or any other specified person in
accordance with such amendment will not result in the imposition of a tax on any portion of the Trust Fund, the Lower-Tier
REMIC or the Upper-Tier REMIC, or cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a
REMIC.

 

The
obligations created by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action
required to be taken by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination
Date. In no event, however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21
years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to
the United Kingdom, living on the date hereof.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing
Agreement or be valid for any purpose.

 

    	A-5-8

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015  

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of
Authentication

 

This
is one of the Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate
Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-5-9

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	
        
	 	

         
	 	

         
	 	

         

	

         
	 	

	         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

	 		 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

	

         
	 	

         
	 	

         
	 	

         

 

    	A-5-10

    	 

    

  

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-5-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-5-12

    	 

    

 

EXHIBIT
A-6
 

EXHIBIT
A-6

 

FORM OF CLASS PR-1 CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1 For
Book-Entry Certificates only.

 

    	A-6-1

    	 

    

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).

 

 

 

2 For Regulation S Book-Entry
Certificates only.

 

    	A-6-2

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS PR-1

[RULE 144A]3 [REGULATION S]4
[BOOK-ENTRY]5 [DEFINITIVE]6
CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date: August 7, 2015	 	 
	 	 	 
	Aggregate Initial Certificate

Principal Amount of the

Class PR-1 Certificates:

$27,800,000	 	Rated Final

Distribution Date: June 2035
	 	 	 
	CUSIP: 

92939VAL83

U46030AF64

92939VAM67	 	ISIN: 

US92939VAL803

USU46030AF604

US92939VAM637
	 	 	 
	Common Code:

1249117703

1249117454	 	Initial Certificate Principal Amount of this Certificate:

$[   ]
	 	 	 
	No.: C-[   ]	 	 

 

This certifies that [  ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class PR-1 Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to
each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust
by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

 

 

3
For Rule 144A Book-Entry Certificates only.

 

4
For Regulation S Book-Entry Certificates only.

 

5
For Book-Entry Certificates only.

 

6
For Definitive Certificates only.

 

7
For IAI Certificates only.

 

    	A-6-3

    	 

    

 

The Certificates consist of
the following classes: Class A, Class X, Class B, Class C, Class, PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3, Class R
Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class PR-1 Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check

 

    	A-6-4

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such
Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days
prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent
(which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer

 

    	A-6-5

    	 

    

 

(executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of
this Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)            to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC; 

 

    	A-6-6

    	 

    

 

provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)           to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)          to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)         to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating Agency;
provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)        to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator and the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)           to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying
Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided,
further, that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any

 

    	A-6-7

    	 

    

 

Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

  

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)           reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)           amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

  

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-6-8

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-6-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as the Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-6-10

    	 

    

 

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-6-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-6-12

    	 

    
 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-6-13

    	 

    

 

EXHIBIT A-7

 

EXHIBIT
A-7

 

FORM OF CLASS PR-2 CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1
For Book-Entry Certificates only.

 

    	A-7-1

    	 

    

 

THIS CERTIFICATE MAY
NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER
PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(1) SUCH PERSON
IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (2)
ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE
COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION,
HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH
GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT

 

 

 

2 For Regulation S Book-Entry
Certificates only.

 

    	A-7-2

    	 

    

 

CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-7-3

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS PR-2

[RULE 144A]3 [REGULATION S]4
[BOOK-ENTRY]5 [DEFINITIVE]6
CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date: August 7, 2015	 	 
	 	 	 
	Aggregate Initial Certificate

Principal Amount of the

Class PR-2 Certificates:

$18,200,000	 	Rated Final

Distribution Date: June 2035
	 	 	 
	CUSIP: 

92939VAN43

U46030AG44

92939VAP97	 	ISIN: 

US92939VAN473

USU46030AG444

US92939VAP947
	 	 	 
	Common Code:

1249123693

1249117534	 	Initial Certificate Principal Amount of this Certificate:

$[   ]
	 	 	 
	No.: PR-2-[   ]	 	 

 

This certifies that Cede
& Co. is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class PR-2 Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect
to each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in
trust by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement

 

 

 

3 For Rule 144A Book-Entry
Certificates only.

 

4 For Regulation S
Book-Entry Certificates only.

 

5 For Book-Entry Certificates
only.

 

6 For Definitive Certificates
only.

 

7 For IAI Certificates
only.

  

    	A-7-4

    	 

    

 

and is bound thereby. The Certificates consist
of the following classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class
R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class PR-2 Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check

 

    	A-7-5

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such
Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days
prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent
(which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer

 

    	A-7-6

    	 

    

 

(executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of
this Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)            to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-7-7

    	 

    

 

provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)           to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)   
      to make any other provisions with respect to matters or questions arising under the
Pooling and Servicing Agreement or any other change; provided that the required action shall not adversely affect in
any material respect the interests of any Certificateholder not consenting thereto as evidenced by (x) an Opinion of Counsel
or (y) receipt of Rating Agency Confirmation from each Rating Agency;

 

(vii)     
   to amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to
maintain the then-current ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency
Confirmation from such Rating Agency; provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)        to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator and the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying Agent,
the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided, further,
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any

 

    	A-7-8

    	 

    

 

Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

  

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)   
       reduce the aforesaid percentage of Certificates of any Class the Holders of which are
required to consent to any such amendment without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iii)  
       adversely affect the Voting Rights of any Class of Certificates without the consent of
the Holders of all Certificates of such Class then outstanding; or

 

(iv)          change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)           amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-7-9

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-7-10

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-7-11

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-7-12

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-7-13

    	 

    
 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-7-14

    	 

    

 

EXHIBIT
A-8

 

EXHIBIT
A-8

 

FORM OF CLASS SQ-1 CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1 For Book-Entry Certificates only.

 

    	A-8-1

    	 

    

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).

 

 

 

2 For Regulation S Book-Entry Certificates only.

 

    	A-8-2

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS SQ-1

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5
[DEFINITIVE]6 CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date: August 7, 2015	 	 
	 	 	 
	Aggregate Initial Certificate

    Principal Amount of the

    Class SQ-1 Certificates:

    $15,900,000	 	Rated Final

    Distribution Date: June 2035
	 	 	 
	CUSIP: 

    92939VAQ73

    U46030AH24

    92939VAR57	 	ISIN: 

    US92939VAQ773

    USU46030AH274

    US92939VAR507
	 	 	 
	Common Code:

    

    1249117293

    1249123344	 	Initial Certificate Principal Amount of this Certificate:

    $[   ]
	 	 	 
	No.: SQ-1-[   ]	 	 

 

This certifies that [   ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class SQ-1 Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect to
each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in trust
by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

 

 

3 For Rule 144A Book-Entry Certificates only.

 

4 For Regulation S Book-Entry Certificates only.

 

5 For Book-Entry Certificates only.

 

6 For Definitive Certificates only.

 

7 For IAI Certificates only.

 

    	A-8-3

    	 

    

 

The Certificates consist of
the following classes: Class A, Class X, Class B, Class C, Class, PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3, Class R
Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class SQ-1 Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check

 

    	A-8-4

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such
Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days
prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent
(which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer

 

    	A-8-5

    	 

    

 

(executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of
this Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)            to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-8-6

    	 

    

 

provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)           to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)          to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)         to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating Agency;
provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)        to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator and the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying
Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided,
further, that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any

 

    	A-8-7

    	 

    

 

Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)           reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)           amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-8-8

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-8-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as the Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-8-10

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-8-11

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-8-12

    	 

    
 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-8-13

    	 

    

 

EXHIBIT
A-9

 

EXHIBIT
A-9

 

FORM OF CLASS SQ-2 CERTIFICATES

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR
GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A
“QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

 

1 For Book-Entry Certificates only.

 

    	A-9-1

    	 

    

 

THIS CERTIFICATE MAY
NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER
PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(1) SUCH PERSON
IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (2)
ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE
COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION,
HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH
GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO A U.S. PERSON WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT

 

 

 

2 For Regulation S Book-Entry
Certificates only. 

 

    	A-9-2

    	 

    

 

CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-9-3

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS SQ-2

[RULE 144A]3 [REGULATION S]4
[BOOK-ENTRY]5 [DEFINITIVE]6
CERTIFICATE

 

Pass-Through Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date: August 7, 2015	 
	 	 
	Aggregate Initial Certificate

Principal Amount of the

Class SQ-2 Certificates:

$21,600,000	Rated Final

Distribution Date: June 2035
	 	 
	CUSIP: 

92939VAS33

U46030AJ84

92939VAT17	ISIN: 

US92939VAS343

USU46030AJ824

US92939VAT177
	 	 
	Common Code:

1249117373

1249116994	Initial Certificate Principal Amount of this Certificate:

$[   ]
	 	 
	No.: SQ-2-[   ]	 

 

This certifies that Cede
& Co. is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class SQ-2 Certificates. The Trust Fund, described more fully below, consists primarily of the only note with respect
to each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial real estate held in
trust by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement

 

 

 

3 For Rule 144A Book-Entry Certificates only.

 

4 For Regulation S Book-Entry Certificates only.

 

5 For Book-Entry Certificates only.

 

6 For Definitive Certificates only.

 

7 For IAI Certificates only.

 

    	A-9-4

    	 

    

 

and is bound thereby. The Certificates consist
of the following classes: Class A, Class X, Class B, Class C, Class PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class
R Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association, as Trustee and Certificate
Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and the Pooling and Servicing
Agreement, the Pooling and Servicing Agreement shall control.

 

The Trustee and the Certificate
Administrator make no representation or warranty as to any of the statements contained herein or the validity or sufficiency of
the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate in its limited capacity as
the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution on any
Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record Date,
an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During each Interest
Accrual Period (as defined below), interest on the Class SQ-2 Certificates will be calculated on the basis of a 360-day year consisting
of twelve 30-day months.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which the related Distribution
Date occurs.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons in whose names the
Certificates are registered at the close of business on each Record Date, which will be the close of business on the last Business
Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such distributions shall
be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date
by check

 

    	A-9-5

    	 

    

 

mailed by first class mail to the address set forth therefor in the Certificate Register or, provided that such
Certificateholder shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days
prior to the related Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent
(which may be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates or deliver an affidavit in
accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in trust for the account of
the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice
of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates
for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after
the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their Certificates.
The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets that remain
held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Paying
Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate Administrator
shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust Fund. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing Agreement. Any such amounts
transferred to the Certificate Administrator may be invested in Permitted Investments and all income and gain realized from investment
of such funds shall be for the benefit of the Certificate Administrator.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Trustee.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided in the Pooling and
Servicing Agreement together with an instrument of assignment or transfer

 

    	A-9-6

    	 

    

 

(executed by the Holder or his duly authorized attorney),
subject to the requirements in Article V of the Pooling and Servicing Agreement. Upon surrender for registration of transfer of
this Certificate, subject to the requirements of Article V of the Pooling and Servicing Agreement, the Certificate Administrator
shall execute and duly authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate Certificate Principal Amount or Notional Amount. Such Certificates shall be delivered by the
Certificate Registrar in accordance with Section 5.02 of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice
to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee without the consent of any Certificateholder:

 

(i)            to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim
against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-9-7

    	 

    

 

provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a)
such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any
such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder;

 

(v)           to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)          to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)         to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating Agency;
provided that such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)        to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator and the Trustee
and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying
Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided,
further, that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any

 

    	A-9-8

    	 

    

 

Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
for the rating on such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment
to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s website.

 

Notwithstanding the foregoing,
no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment evidencing in the aggregate
not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights
of the Holders of Certificates of such Class; provided, however, that no such amendment shall:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the
consent of the Holder of such Certificate; or

 

(ii)           reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)         amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency.

 

Notwithstanding the foregoing,
none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special Servicer will
be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement and
that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate

 

    	A-9-9

    	 

    

 

Administrator, the Paying Agent or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

The obligations created
by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action required to be taken
by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination Date. In no event,
however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the United Kingdom, living
on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or
be valid for any purpose.

 

    	A-9-10

    	 

    

 

 

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Certificates
referred to in the Pooling and Servicing Agreement.

 

Dated: July 24, 2015

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-9-11

    	 

    

  

Schedule A

 

	
        Date
	 	
        Certificate Principal Amount
or

Notional Amount Exchanged or

Transferred
	 	
        Remaining

Certificate

Principal

Amount or

Notional Amount

of this Certificate
	 	
        Notation Made By

	
         

	 	
         
	 	
         
	 	
         

	
         

	 	
         
	 	
         
	 	
          

	
         

	 	
          
	 	
          
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
          

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	
         
	 	
         
	 	
         

	

         
	 	

         
	 	
         
	 	
         

	
         
	 	
         
	 	
         
	 	
         

 

    	A-9-12

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-9-13

    	 

    
 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-9-14

    	 

    

 

EXHIBIT A-10

 

EXHIBIT
A-10

 

FORM
OF CLASS SQ-3 CERTIFICATES

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.] 1

 

THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE MORTGAGE LOAN SELLER, THE SERVICER, THE SPECIAL
SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING
MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S.
PERSON” IN AN “OFFSHORE TRANSACTION”, AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

 

1
For Book-Entry Certificates only.

 

    	A-10-1

    	 

    

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(1) SUCH
PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60,
AND (2) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH
INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE
ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION
BY SUCH GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE
OFFERING OF THE CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OF AMERICA OR TO
A U.S. PERSON WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.]2

 

PRINCIPAL
PAYMENTS ON THIS CERTIFICATE ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL
AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL AMOUNT SET FORTH BELOW.

 

THIS
CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

 

FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE
INVESTMENT

 

 

2
For Regulation S Book-Entry Certificates only.

 

    	A-10-2

    	 

    

 

CONDUIT,”
AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-10-3

    	 

    

 

wp
glimcher mall TRUST 2015-WPG

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2015-WPG, CLASS SQ-3

[RULE 144A]3 [REGULATION S]4 [BOOK-ENTRY]5 [DEFINITIVE]6
CERTIFICATE

 

Pass-Through
Rate: As set forth in Pooling and Servicing Agreement.

 

	First Distribution Date:  August
    7, 2015	 	 
	 	 	 
	Aggregate Initial Certificate

    Principal Amount of the

    Class SQ-3 Certificates:

    $19,500,000	 	Rated Final

    Distribution Date:  June 2035
	 	 	 
	CUSIP: 

    92939VAU83

    U46030AK54

    92939VAV67	 	ISIN:  

    US92939VAU893

    USU46030AK554

    US92939VAV627
	 	 	 
	Common Code:

    1249123003

    1249117024	 	Initial Certificate Principal Amount of
    this Certificate:

    $[  ]
	 	 	 
	No.:  SQ-3-[ ]	 	 

 

This
certifies that Cede & Co. is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions
to be made with respect to the Class SQ-3 Certificates. The Trust Fund, described more fully below, consists primarily of the
only note with respect to each of two (2) fixed rate loans secured by mortgages (“Mortgage Loans”) on commercial
real estate held in trust by the Trustee and serviced by the Servicer. The Trust Fund was created, and the Mortgage Loans are
to be serviced, pursuant to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Pooling and Servicing Agreement

 

 

3
For Rule 144A Book-Entry Certificates only.

 

4
For Regulation S Book-Entry Certificates only.

 

5
For Book-Entry Certificates only.

 

6
For Definitive Certificates only.

 

7
For IAI Certificates only.

 

    	A-10-4

    	 

    

 

and
is bound thereby. The Certificates consist of the following classes: Class A, Class X, Class B, Class C, Class
PR-1, Class PR-2, Class SQ-1, Class SQ-2, Class SQ-3 and Class R Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Pooling and Servicing Agreement, dated as of July 24,
2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities
Corp., as Depositor, KeyBank National Association, as Servicer and Special Servicer, and Wells Fargo Bank, National Association,
as Trustee and Certificate Administrator. To the extent not defined herein, capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement. In the event of any conflict between the terms of this Certificate and
the Pooling and Servicing Agreement, the Pooling and Servicing Agreement shall control.

 

The
Trustee and the Certificate Administrator make no representation or warranty as to any of the statements contained herein or the
validity or sufficiency of the Certificates or any Mortgage Loan and the Certificate Administrator has executed this Certificate
in its limited capacity as the Certificate Administrator under the Pooling and Servicing Agreement.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator will distribute (other than the final distribution
on any Certificate), on the Distribution Date to the Person in whose name this Certificate is registered as of the related Record
Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to the Certificates of
the Class represented hereby for such Distribution Date, all as more fully described in the Pooling and Servicing Agreement. “Distribution
Date” shall mean the 4th Business Day after the Determination Date, commencing in August 2015. “Determination Date”
shall mean, with respect to each Distribution Date, the 1st day of the calendar month in which such Distribution Date occurs (or,
if such day is not a Business Day, the immediately succeeding Business Day).

 

During
each Interest Accrual Period (as defined below), interest on the Class SQ-3 Certificates will be calculated on the basis of a
360-day year consisting of twelve 30-day months.

 

Interest
accrued on this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement.
The “Interest Accrual Period” with respect to any Distribution Date is the calendar month preceding the month in which
the related Distribution Date occurs.

 

All
distributions (other than the final distribution on any Certificate) will be made by the Certificate Administrator to the persons
in whose names the Certificates are registered at the close of business on each Record Date, which will be the close of business
on the last Business Day of the Interest Accrual Period relating to the month in which the related Distribution Date occurs. Such
distributions shall be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the
related Record Date by check

 

    	A-10-5

    	 

    

 

mailed
by first class mail to the address set forth therefor in the Certificate Register or, provided that such Certificateholder
shall have provided the Certificate Administrator with wire instructions in writing at least five Business Days prior to the related
Record Date, by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity
located in the United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made
in like manner, but only upon presentment and surrender of such Certificate at the office of the Trustee or its agent (which may
be the Certificate Registrar acting as such agent) that is specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates or
deliver an affidavit in accordance with Section 5.06(g) of the Pooling and Servicing Agreement shall be set aside and held in
trust for the account of the appropriate non tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates
as to which notice of the Termination Date has been given pursuant to Section 9.01 of the Pooling and Servicing Agreement shall
not have been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator
shall mail a second notice to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to
surrender their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto.
If within one year after the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of
their Certificates. The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of
the assets that remain held. If within two years after the second notice any Certificates shall not have been surrendered for
cancellation, the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and
the Certificate Administrator shall thereafter distribute such amounts to the Class R Certificateholders in respect of the Trust
Fund. No interest shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 9.01 of the Pooling and Servicing
Agreement. Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments and all income
and gain realized from investment of such funds shall be for the benefit of the Certificate Administrator.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Trustee.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at the Corporate Trust Office as provided
in the Pooling and Servicing Agreement together with an instrument of assignment or transfer

 

    	A-10-6

    	 

    

 

(executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements of Article V of the Pooling
and Servicing Agreement, the Certificate Administrator shall execute and duly authenticate in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations of a like aggregate Certificate Principal Amount or Notional
Amount. Such Certificates shall be delivered by the Certificate Registrar in accordance with Section 5.02 of the Pooling
and Servicing Agreement.

 

Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Servicer, the Special Servicer,
the Certificate Administrator, the Certificate Registrar, the Trustee, any Paying Agent or any agent of any of them shall be affected
by notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee without the consent of any Certificateholder:

 

(i)          to
correct any inconsistency, defect or ambiguity in the Pooling and Servicing Agreement or to correct any manifest error in any
provision of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions of the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts, the Interest Reserve Account
or any REO Account, provided that (a) the Servicer Remittance Date shall in no event be later than the Business Day prior to the
related Distribution Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder,
as evidenced by (1) an Opinion of Counsel (at the expense of the party requesting such amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) Rating Agency Confirmation from each Rating
Agency;

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of either
the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize
the risk of imposition of any tax on the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC that would be a
claim against the Trust Fund or either of the Lower-Tier REMIC or the Upper-Tier REMIC;

 

    	A-10-7

    	 

    

 

provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting
such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize
the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests
of any Certificateholder;

 

(v)          to
modify, eliminate or add to the provisions of Article V of the Pooling and Servicing Agreement or any other provision of the Pooling
and Servicing Agreement restricting transfer of the Class R Certificates; provided, that the Depositor has determined that
such change shall not give rise to any tax with respect to the transfer of the Class R Certificates to a non-permitted transferee,
provided that the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)         to
make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other
change; provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
not consenting thereto as evidenced by (x) an Opinion of Counsel or (y) receipt of Rating Agency Confirmation from each Rating
Agency;

 

(vii)        to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from such Rating
Agency; provided that such amendment or supplement shall not adversely affect in any material respect the interests of
any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Section 3.06(b) of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Servicer, the Certificate Administrator and the
Trustee and, for so long as a Control Event has not occurred and is not continuing, the related Directing Certificateholder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such
industry standard, (b) such modification does not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC
as a REMIC, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency Confirmation; and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Trustee, the Certificate Administrator, the Paying
Agent, the 17g-5 Information Provider, the Servicer or the Special Servicer without such party’s consent; and provided,
further, that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any

 

    	A-10-8

    	 

    

 

Certificate
is then rated, receipt of Rating Agency Confirmation from each Rating Agency for the rating on such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for posting
on the 17g-5 Information Provider’s website.

 

Notwithstanding
the foregoing, no such amendment may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the
obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage
Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the
Certificate Administrator and the Trustee with the consent of the Holders of Certificates of each Class affected by such amendment
evidencing in the aggregate not less than 51% of the aggregate Percentage Interests constituting the Class for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without
the consent of the Holder of such Certificate; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment without
the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)         amend
Accepted Servicing Practices without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency. 

 

Notwithstanding
the foregoing, none of the Trustee, the Certificate Administrator, the Paying Agent, the Depositor, the Servicer nor the Special
Servicer will be required to consent to any amendment of the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement and that such amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the
Trustee, the Certificate

 

    	A-10-9

    	 

    

 

Administrator,
the Paying Agent or any other specified person in accordance with such amendment will not result in the imposition of a tax on
any portion of the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC, or cause the Lower-Tier REMIC or the Upper-Tier REMIC
to fail to qualify as a REMIC.

 

The
obligations created by the Pooling and Servicing Agreement shall terminate immediately following the occurrence of the last action
required to be taken by the Certificate Administrator pursuant to Article IX of the Pooling and Servicing Agreement on the Termination
Date. In no event, however, will the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21
years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to
the United Kingdom, living on the date hereof.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Pooling and Servicing
Agreement or be valid for any purpose.

 

    	A-10-10

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:
July 24, 2015 

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity
    but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

 

This
is one of the Certificates referred to in the Pooling and Servicing Agreement.

 

Dated:
July 24, 2015 

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity
    but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	A-10-11

    	 

    

 

Schedule
A

 

	Date
	 	Certificate
                                         Principal Amount or

                                         Notional Amount Exchanged or

                                         Transferred
	 	Remaining

                                         Certificate

                                         Principal

                                         Amount or

                                         Notional Amount

                                         of this Certificate 
	 	Notation
                                         Made By 

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

	 

         
	 	 

         
	 	 

         
	 	 

         

 

    	A-10-12

    	 

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto _____________________________

	 

(please print or typewrite name(s) and address(es), including postal
zip code(s) of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate
and hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the Trust Fund.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificates to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 

	 	 	 
	Date:______	 	Signature by or on behalf of Assignor(s)
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-10-13

    	 

    
 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should include the following for
purposes of distribution:

 

Address of the Assignee(s) for the purpose of
receiving notices and distributions: _____________________________________________

	 	 
	 	.
	 	 
	Distributions, if be made by
wire transfer in immediately available funds to
__________________________________________________________________ 	 
	 	 
	for the
account of ___________________________________________ _____________________________________________________________________	 
	account number
_________________________________________________________________________________________________________________.	 

 

This information is provided by ________________________________________________________________________
the Assignee(s) named above, or ___________________________________________________________ as its (their) agent.

	 	 	 
	 	By:	 
	 	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	 	Title
	 	 	 
	 	 	Taxpayer Identification Number

 

    	A-10-14

    	 

    

 

EXHIBIT
                                         B
 MORTGAGE LOAN SCHEDULE

 

	Glimcher Mall Trust 2015-WPG	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	 	Property
    Name	 	Mortgage
    Loan

    Seller	 	Borrower
    Entities	 	Property
    Type	 	Property

    City	 	State	 	Origination

    Date	 	First

    Payment

    Date	 	Maturity

    Date	 	Current

    Interest Rate	 	Title
    Type	 	Ground

    Lease	 	Extensions

    Beyond

    Maturity Date	 	Related

    Letter of

    Credit
	 	1	 	Pearlridge
    Center	 	JPMCB
    and GACC	 	BRE/Pearlridge,
    LLC	 	Retail	 	Aiea	 	HI	 	5/20/2015	 	7/1/2015	 	6/1/2025	 	3.53000%	 	Fee/Leasehold	 	Yes	 	No	 	No
	 	2	 	Scottsdale
    Quarter	 	JPMCB
    and GACC	 	SDQ
    Fee, LLC	 	Mixed
    Use	 	Scottsdale	 	AZ	 	5/20/2015	 	7/1/2015	 	6/1/2025	 	3.53000%	 	Fee	 	N/A	 	No	 	No

 

    	B-1

    	 

    

 

EXHIBIT
C-1

 

FORM
OF QIB LETTER

 

[DATE]

 

[Date]

 

Wells
Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179 

 

                Re:       WP
Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG, Class [  ]

 

Dear
Sir:

 

In
connection with our proposed purchase of the Certificates referred to above (the “Certificates”), we confirm
that:

 

1.          We
have received a copy of the Offering Circular, dated July 9, 2015 (the “Offering Circular”), relating to the
Certificates and such other information and documents as we deem necessary in order to make our investment decision. We acknowledge
that we have read and agree to the matters stated in the Section entitled “DESCRIPTION OF THE CERTIFICATES—Delivery,
Form, Transfer and Denomination” of the Offering Circular.

 

2.          We
understand that any subsequent reoffer, resale, transfer of the Certificates is subject to certain restrictions and conditions
set forth in the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Depositor”), KeyBank
National Association, as servicer and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special servicer
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”)
and as trustee (in such capacity, the “Trustee”), and we agree to be bound by, and not to resell, pledge or
otherwise transfer the Certificates except in compliance with such restrictions and conditions and the Securities Act of 1933,
as amended (the “Securities Act”).

 

3.          We
understand that the offer and sale of the Certificates has not been registered under the Securities Act and that the Certificates
may not be offered or sold except as

 

    	C-1-1

    	 

    

 

permitted
in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated,
that if we should offer or sell any Certificate, we will do so only (A) to the Depositor or any subsidiary thereof, (B) in
accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein),
(C) to an institutional “accredited investor” (as defined below) that, prior to such transfer, furnishes to the
Certificate Administrator a signed letter containing certain representations and agreements relating to the restrictions on transfer
of the Certificates (the form of which letter can be obtained from the Certificate Administrator), or (D) to an institution
that is not a U.S. Person in an “offshore transaction” in accordance with Rule 903 and Rule 904 of Regulation S
under the Securities Act, and we further agree to provide to any person purchasing any of the Certificates from us a notice advising
such person that resales of the Certificates are restricted as stated herein.

 

4.          We
understand that, on any proposed resale of any Certificates, we will be required to furnish to the Depositor and to the Certificate
Administrator such certificates, legal opinions and other information as the Depositor or the Certificate Administrator may reasonably
require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Certificates
purchased by us will bear a legend to the foregoing effect.

 

5.          We
are a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act. We are aware
that the sale of the Certificates to us is being made in reliance on Rule 144A under the Securities Act. We are acquiring the
Certificates for our own account or the account of a qualified institutional buyer.

 

6.          We
are acquiring authorized denominations of the Certificates for each account for which we are purchasing such Certificates and
will not offer, sell, pledge or otherwise transfer any such Certificates or any interest therein at any time except in the authorized
denominations.

 

7.          We
acknowledge that neither the Depositor nor the Certificate Administrator or any person acting on the Depositor’s or the
Certificate Administrator’s behalf has made any representations concerning the Depositor or the offer and sale of the Certificates,
except as set forth in the Offering Circular.

 

8.          We
acknowledge that the Depositor, the Certificate Administrator and others will rely on the truth and accuracy of the foregoing
acknowledgements, representations and agreements, and agree that if any of the foregoing acknowledgements, representations and
agreements are no longer accurate we will promptly notify the Depositor, the Certificate Administrator and the Trustee.

 

9.          [Either
(A) we are (i) not a retirement plan or other employee benefit plan or arrangement subject to Title I of ERISA, Section 4975
of the Code or any Similar Law, and (ii) not directly or indirectly purchasing Certificates on behalf of, as named fiduciary
of, as trustee of, or with assets of any such plan or arrangement, or (B) we are acquiring the Certificates on behalf of
a retirement or other employee benefit plan or arrangement subject to Title I of ERISA, Section 4975 of the Code or Similar
Law (including, if applicable, ourselves), and we intend to rely on Prohibited Transaction Exemption 2002-19, and such plan or

 

    	C-1-2

    	 

    

 

arrangement:
(1) is an “accredited investor” as defined in Rule 501(a)(1) under the Securities Act, (2) is not sponsored
(within the meaning of Section 3(16)(B) of ERISA) by any member of the Restricted Group, and (3) we will obtain the
following from each prospective transferee that is a retirement plan or other employee benefit plan or arrangement subject to
Title I of ERISA, Section 4975 of the Code or Similar Law: (x) a written representation that such transferee satisfies
the requirements described in the immediately foregoing clauses (1) and (2) of this subsection (B), and (y) a written
agreement of the type described in this clause (3).] [Use for all Classes other than Class PR-2, Class SQ-2, Class SQ-3 and
Class R]

 

[We
acknowledge that this Certificate should not be purchased by a transferee that is (A) an employee benefit plan or other retirement
arrangement, including an individual retirement account or a Keogh plan, which is subject to the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), section 4975 of the Code or any essentially similar federal, state or local
law (a “Similar Law”) (each, a “Plan”), or (B) a collective investment fund in which such
Plans are invested, an insurance company using assets of separate accounts or general accounts which include assets of Plans (or
which are deemed pursuant to ERISA or any similar law to include assets of Plans) or other person acting on behalf of any such
Plan or using the assets of any such Plan, other than an insurance company using assets of an insurance company general account
which represents that all of the requirements of Prohibited Transaction Class Exemption 95-60 will be met with respect to its
acquisition and holding of this Certificate (or, in the case of a plan subject to Similar Law, the acquisition, holding and disposition
of this Certificate will not constitute or otherwise result in a non-exempt violation of Similar Law). Transferees of this Certificate
taking delivery in certificated form shall be required to deliver a letter to such effect.] [Use for Class PR-2, Class SQ-2 and
Class SQ-3]

 

[We
acknowledge that this Certificate should not be purchased by a transferee that is (A) an employee benefit plan or other retirement
arrangement, including an individual retirement account or a Keogh plan, which is subject to the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), section 4975 of the Code or any essentially similar federal, state or local
law (a “Similar Law”) (each, a “Plan”), or (B) a collective investment fund in which
such Plans are invested, an insurance company using assets of separate accounts or general accounts which include assets of Plans
(or which are deemed pursuant to ERISA or any similar law to include assets of Plans) or other person acting on behalf of any
such Plan or using the assets of any such Plan. Transferees of this Certificate taking delivery in certificated form shall be
required to deliver a letter to such effect.] [Use for Class R]

 

10.         We
are a purchaser of a Class [A] [X] [B] [C] [PR-1] [PR-2] [SQ-1] [SQ-2] [SQ-3] [R] Certificate and the following information
is set forth for each beneficial owner of such Class and not the nominee:

 

	1.   Name:  	 	 

	2.   Address:
     	 	 

	3.   EIN number:
     	 	 

	4.   Entity Type:
     	 	 

	5.   Year-end: 	 	 

 

    	C-1-3

    	 

    

 

We
will inform you of any and all transfers that occur during each fiscal reporting period.

 

11.          Check
one of the following:

 

	___	We
are a “U.S. Person” and we have attached hereto an Internal Revenue Service (“IRS”) Form W-9
(or successor form).
	 	 
	___	We
    are not a “U.S. Person” and, under applicable law in effect on the date hereof, no federal income taxes will be
    required to be withheld by the Certificate Administrator (or its agent) with respect to distributions to be made on the Certificates.  We
    have attached hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable (or successor form),
    which identifies us as the beneficial owner of the Certificates and states that we are not a U.S. Person, (ii) IRS Form W-8IMY
    (and appropriate attachments) or (iii)]* two duly executed copies of IRS Form W-8ECI (or successor
    form), which identify us as the beneficial owner of the Certificates and state that interest and original issue discount on
    the Certificates is, or is expected to be, effectively connected with a U.S. trade or business.  We agree to provide
    to the Certificate Administrator updated [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY or]* IRS Form W-8ECI,
    as the case may be, and any applicable successor IRS forms, or such other certifications as the Certificate Administrator
    may reasonably request, on or before the date that any such IRS form or certification expires or becomes obsolete, or promptly
    after the occurrence of any event requiring a change in the most recent IRS form of certification furnished by it to the Certificate
    Administrator.

 

For
this purpose, “U.S. Person” means a citizen or resident of the United States for U.S. federal income tax purposes,
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 or the District of Columbia, including any entity treated as a corporation or partnership
for federal income tax purposes, an estate the income of which is subject to U.S. federal income taxation 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 United States fiduciaries have the authority to control all substantial decisions of such trust (or, to the extent
provided in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 which have elected to be treated
as U.S. Persons).

 

Each
of the Depositor and the Certificate Administrator are entitled to rely upon this letter and are irrevocably authorized to produce
this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect
to the matters covered hereby.

  

 

* Does
not apply to a transfer of the Class R Certificate.

 

    	C-1-4

    	 

    

 

	 	 	 	 
	 	Sincerely,
	 	 
	 	[Name
    of Transferee]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	C-1-5

    	 

    

 

EXHIBIT
C-2

 

FORM
OF INSTITUTIONAL ACCREDITED INVESTOR LETTER

 

[Date]

 

Wells
Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

 

                Re:       WP
Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG, Class [  ]

 

Dear
Sir:

 

In
connection with our proposed purchase of the Certificates referred to above (the “Certificates”), we confirm
that:

 

1.          We
have received a copy of the Offering Circular, dated July 9, 2015 (the “Offering Circular”), relating to the
Certificates and such other information and documents as we deem necessary in order to make our investment decision. We acknowledge
that we have read and agree to the matters stated in the Section entitled “DESCRIPTION OF THE CERTIFICATES— Delivery,
Form, Transfer and Denomination” of the Offering Circular.

 

2.          We
understand that any subsequent transfer of the Certificates is subject to certain restrictions and conditions set forth in the
pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by and among
J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Depositor”), KeyBank National Association,
as servicer and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special servicer and Wells Fargo
Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”)
and as trustee (in such capacity, the “Trustee”), and we agree to be bound by, and not to resell, pledge or
otherwise transfer the Certificates except in compliance with such restrictions and conditions and the Securities Act of 1933,
as amended (the “Securities Act”).

 

3.          We
understand that the reoffer and resale of the Certificates has not been registered under the Securities Act and that the Certificates
may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts
for which we are acting as hereinafter stated, that if we should offer, sell any Certificate, we will do so only (A) to the
Depositor or any subsidiary thereof, (B) in accordance with Rule 144A

 

    	C-2-1

    	 

    

 

under
the Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional “accredited
investor” (as defined below) that, prior to such transfer, furnishes to the Certificate Administrator a signed letter containing
certain representations and agreements relating to the restrictions on transfer of the Certificates (the form of which letter
can be obtained from the Certificate Administrator), or (D) to an institution that is not a U.S. Person in an “offshore
transaction” in accordance with Rule 903 and Rule 904 of Regulation S under the Securities Act, and we further
agree to provide to any person purchasing any of the Certificates from us a notice advising such person that resales of the Certificates
are restricted as stated herein.

 

4.          We
understand that, on any proposed resale of any Certificates, we will be required to furnish to the Depositor and to the Certificate
Administrator such certificates, legal opinions and other information as the Depositor or the Certificate Administrator may reasonably
require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Certificates
purchased by us will bear a legend to the foregoing effect.

 

5.          We
are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D
under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of our investment in the Certificates, and we and any accounts for which we are acting are each able to bear
the economic risks of our or their investment.

 

6.          [We
are acquiring the Certificates purchased by us for our own account or for one or more accounts (each of which is an institutional
“accredited investor”) as to each of which we exercise sole investment discretion.]

 

[We
are acquiring the Certificates purchased by us for our own account.]

 

7.          We
are acquiring authorized denominations of the Certificates for each account for which we are purchasing such Certificates and
will not offer, sell, pledge or otherwise transfer any such Certificates or any interest therein at any time except in the authorized
denominations.

 

8.          We
acknowledge that neither the Depositor nor the Certificate Administrator nor any person acting on the Depositor’s or the
Certificate Administrator’s behalf has made any representations concerning the Depositor or the offer and sale of the Certificates,
except as set forth in the Offering Circular.

 

9.          We
have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of
purchasing the Certificates.

 

10.         If
we are acquiring any of the Certificates as fiduciary or agent for one or more accounts, we represent that we have sole investment
discretion with respect to each such amount and that we have full power to make the foregoing acknowledgements, representations
and agreements with respect to each such account as set forth.

 

11.         We
acknowledge that the Depositor, the Certificate Administrator and others will rely on the truth and accuracy of the foregoing
acknowledgements, representations

 

    	C-2-2

    	 

    

 

and
agreements, and agree that if any of the foregoing acknowledgements, representations and agreements are no longer accurate we
will promptly notify the Depositor and the Certificate Administrator.

 

12.         [Either
(A) we are (i) not a retirement plan or other employee benefit plan or arrangement subject to Title I of ERISA, Section 4975
of the Code or any Similar Law, and (ii) not directly or indirectly purchasing Certificates on behalf of, as named fiduciary
of, as trustee of, or with assets of any such plan or arrangement, or (B) we are acquiring the Certificates on behalf of
a retirement or other employee benefit plan or arrangement subject to Title I of ERISA, Section 4975 of the Code or Similar
Law (including, if applicable, ourselves), and we intend to rely on Prohibited Transaction Exemption 2002-19, and such plan or
arrangement: (1) is an “accredited investor” as defined in Rule 501(a)(1) under the Securities Act, (2) is
not sponsored (within the meaning of Section 3(16)(B) of ERISA) by any member of the Restricted Group, and (3) we will
obtain the following from each prospective transferee that is a retirement plan or other employee benefit plan or arrangement
subject to Title I of ERISA, Section 4975 of the Code or Similar Law: (x) a written representation that such transferee
satisfies the requirements described in the immediately foregoing clauses (1) and (2) of this subsection (B), and (y) a
written agreement of the type described in this clause (3).] [Use for all Classes other than Class PR-2, Class SQ-2, Class
SQ-3 and Class R]

 

[We
acknowledge that this Certificate should not be purchased by a transferee that is (A) an employee benefit plan or other retirement
arrangement, including an individual retirement account or a Keogh plan, which is subject to the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), section 4975 of the Code or any essentially similar federal, state or local
law (a “Similar Law”) (each, a “Plan”), or (B) a collective investment fund in which such
Plans are invested, an insurance company using assets of separate accounts or general accounts which include assets of Plans (or
which are deemed pursuant to ERISA or any similar law to include assets of Plans) or other person acting on behalf of any such
Plan or using the assets of any such Plan, other than an insurance company using assets of an insurance company general account
which represents that all of the requirements of Prohibited Transaction Class Exemption 95-60 will be met with respect to its
acquisition and holding of this Certificate (or, in the case of a plan subject to Similar Law, the acquisition, holding and disposition
of this Certificate will not constitute or otherwise result in a non-exempt violation of Similar Law). Transferees of this Certificate
taking delivery in certificated form shall be required to deliver a letter to such effect.] [Use for Class PR-2, Class SQ-2 and
Class SQ-3]

 

[We
acknowledge that this Certificate should not be purchased by a transferee that is (A) an employee benefit plan or other retirement
arrangement, including an individual retirement account or a Keogh plan, which is subject to the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), section 4975 of the Code or any essentially similar federal, state or local
law (a “Similar Law”) (each, a “Plan”), or (B) a collective investment fund in which
such Plans are invested, an insurance company using assets of separate accounts or general accounts which include assets of Plans
(or which are deemed pursuant to ERISA or any similar law to include assets of Plans) or other person acting on behalf of any
such Plan or using the assets of any such Plan. Transferees of this Certificate taking delivery in certificated form shall be
required to deliver a letter to such effect.] [Use for Class R]

 

    	C-2-3

    	 

    

 

13.         We
are a purchaser of a Class [A] [X] [B] [C] [PR-1] [PR-2] [SQ-1] [SQ-2] [SQ-3] [R] Certificate and the following information
is set forth for each beneficial owner of such Class and not the nominee:

 

	1.   Name:  	 	 

	2.   Address:
     	 	 

	3.   EIN number:
     	 	 

	4.   Entity Type:
     	 	 

	5.   Year-end:
     	 	 

  

We
will inform you of any and all transfers that occur during each fiscal reporting period.

 

14.         Check
one of the following:

 

	___	 We
    are a “U.S. Person” and we have attached hereto an Internal Revenue Service (“IRS”)
    Form W-9 (or successor form).
	 	 
	___	 We
    are not a “U.S. Person” and, under applicable law in effect on the date hereof, no federal income taxes
    will be required to be withheld by the Certificate Administrator (or its agent) with respect to distributions to be made on
    the Certificates.  We have attached hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E,
    as applicable (or successor form), which identifies us as the beneficial owner of the Certificates and states that we are
    not a U.S. Person (ii) IRS Form W-81MY (with all appropriate attachments) or (iii)] two duly executed copies of IRS Form W-8ECI
    (or successor form), which identify us as the beneficial owner of the Certificates and state that interest and original issue
    discount on the Certificates is, or is expected to be, effectively connected with a U.S. trade or business.  We
    agree to provide to the Certificate Administrator updated [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY or]** IRS Form W-8ECI,
    as the case may be, and any applicable successor IRS forms, or such other certifications as the Certificate Administrator
    may reasonably request, on or before the date that any such IRS form or certification expires or becomes obsolete, or promptly
    after the occurrence of any event requiring a change in the most recent IRS form of certification furnished by it to the Certificate
    Administrator.

 

For
this purpose, “U.S. Person” means a citizen or resident of the United States for U.S. federal income tax purposes,
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, an estate the income of which is subject to U.S. federal income taxation 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 United States fiduciaries have the authority to control all substantial decisions of such trust
(or, to the extent provided in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 which have
elected to be treated as U.S. Persons).

 

    	C-2-4

    	 

    

 

Each
of the Depositor and the Certificate Administrator is entitled to rely upon this letter and are irrevocably authorized to produce
this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect
to the matters covered hereby.

	 	 	 	 
	 	Sincerely,
	 	 
	 	[Name
    of Transferee]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

**Does
not apply to a transfer of a Class R Certificate

 

    	C-2-5

    	 

    

 

EXHIBIT C-3

 

FORM OF AFFIDAVIT PURSUANT TO

SECTIONS 860D(a)(6)(A) AND 860E(e)(4) OF

THE INTERNAL REVENUE CODE OF 1986, AS AMENDED

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series 2015-WPG (the “Certificates”)
issued pursuant to the Pooling and Servicing Agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and
as Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National
Association, as Trustee and as Certificate Administrator 	 

 

	STATE OF    	)	 
	 	)	ss.:
	COUNTY OF	)	 

 

Capitalized terms not
defined herein shall have the meaning ascribed to them in the Pooling and Servicing Agreement.

 

I, [______], under penalties
of perjury, declare that, to the best of my knowledge and belief, the following representations are true, correct and complete,
and being first sworn, depose and say that:

 

1.          I
am a [______] of [______] (the “Purchaser”), on behalf of which I have the authority to make this affidavit.

 

2.          The
Purchaser is acquiring Class R Certificates representing [__]% of the residual interest in each of the real estate mortgage investment
conduits (each, a “REMIC”) designated as the “Lower-Tier REMIC” and the “Upper-Tier
REMIC”, respectively relating to the Certificates for which an election is to be made under Section 860D of the
Internal Revenue Code of 1986 (the “Code”).

 

3.          The
Purchaser is not a “Disqualified Organization” (as defined below), and the Purchaser is not acquiring the Class
R Certificates for the account of, or as agent or nominee of, or with a view to the transfer of direct or indirect record or beneficial
ownership thereof, to a Disqualified Organization. For the purposes hereof, a Disqualified Organization is any of the following:
(i) the United States, a State or any political subdivision thereof, any

 

    	C-3-1

    	 

    

 

possession of the United States, or any
agency or instrumentality of any of the foregoing (other than an instrumentality that is a corporation if all of its activities
are subject to tax and, except for the Federal Home Loan Mortgage Corporation, a majority of its board of directors is not selected
by any such governmental unit), (ii) a foreign government, international organization or agency or instrumentality of either
of the foregoing, (iii) an organization (other than certain farmers’ cooperatives described in Section 521 of the
Code) that is exempt from tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the Code
on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect
to the Class R Certificate, (iv) rural electric and telephone cooperatives described in Section 1381(a)(2) of the Code
or (vi) any other Person so designated by the Certificate Registrar based upon an Opinion of Counsel to the effect that any
transfer to such Person may cause the Upper-Tier REMIC or the Lower-Tier REMIC to be subject to tax or to fail to qualify
as a REMIC at any time that the Certificates are outstanding. The terms “United States” “State”
and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor
provisions.

 

4.          The
Purchaser acknowledges that Section 860E(e) of the Code would impose a substantial tax on the transferor or, in certain circumstances,
on an agent for the transferee, with respect to any transfer of any interest in any Class R Certificates to a Disqualified Organization.

 

5.          The
Purchaser is a Permitted Transferee. For the purpose hereof, a “Permitted Transferee” is any Person or agent
of such Person other than (a) a Disqualified Organization, (b) any other Person so designated by the Certificate Administrator
who is unable to provide an Opinion of Counsel (provided at the expense of such Person or the Person requesting the transfer) to
the effect that the transfer of an ownership interest in any Class R Certificate to such Person will not cause any Trust REMIC
to fail to qualify as a REMIC at any time that the Certificates are outstanding, (c) a Person that is a Disqualified Non-U.S. Person
or (d) any partnership if any of its interests are (or under the partnership agreement are permitted to be) owned, directly or
indirectly (other than through a U.S. corporation), by a Disqualified Non-U.S. Person.

 

6.          No
purpose of the acquisition of the Class R Certificates is to impede the assessment or collection of tax.

 

7.          The
Purchaser will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed base,
within the meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Person.

 

8.          Check
the applicable paragraph:

 

☐         The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:

 

(i)          the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;

 

    	C-3-2

    	 

    
 

(ii)        the
present value of the expected future distributions on such Class R Certificate; and

 

(iii)       the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.

 

For purposes of this
calculation, (i) the Purchaser is assumed to pay tax at the highest rate currently specified in Section 11(b) of the
Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section 11(b)
of the Code if the Purchaser has been subject to the alternative minimum tax under Section 55 of the Code in the preceding
two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present
values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code
for the month of the transfer and the compounding period used by the Purchaser.

 

☐          The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly,

 

(i)         
the Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations
Section 1.860E-1(c)(6)(i), as to which income from the Class R Certificate will only be taxed in the United
States;

 

(ii)       
at the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer,
the Purchaser had gross assets for financial reporting purposes (excluding any obligation of a person related to the
Purchaser within the meaning of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and
net assets in excess of $10 million;

 

(iii)      
the Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in
Treasury Regulations Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Sections
1.860E-1(c)(4)(i), (ii) and (iii) and Treasury Regulations Section 1.860E-1(c)(5); and

 

(iv)       the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐         None
of the above.

 

9.          The
Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class R Certificates as they become due.

 

10.        The
Purchaser understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flows generated
by such Certificate.

 

    	C-3-3

    	 

    

 

11.          The
Purchaser is aware that the Certificate Administrator will not register any transfer of a Class R Certificate by the Transferor
unless the Purchaser, or such Purchaser’s agent, delivers to the Certificate Administrator, among other things, an affidavit
and agreement in substantially the same form as this affidavit and agreement. The Purchaser expressly agrees that it will not consummate
any such transfer to any Person that does not provide an affidavit and agreement in substantially the same form as this affidavit
and agreement or as to which the Purchaser has actual knowledge that such Person is not a Permitted Transferee or is acting as
an agent (including a broker, nominee or other middleman) for a Person that is not a Permitted Transferee.

 

12.          The
Purchaser represents that it is not acquiring the Class R Certificate as a nominee, trustee or agent for any person that is not
a Permitted Transferee and that for so long as it retains its interest in the Class R Certificate, it will endeavor to remain a
Permitted Transferee.

 

13.          The
Purchaser consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Class R Certificate will only be owned, directly or indirectly, by a Permitted Transferee.

 

14.          The
Purchaser has reviewed the provisions of Section 5.02 of the Pooling and Servicing Agreement, a description of which provisions
is set forth in the Class R Certificates; and the Purchaser expressly agrees to be bound by and to comply with such provisions.

 

15.          The
Purchaser consents to the designation of the Certificate Administrator as the agent of the tax matters person of the Lower-Tier
REMIC and the Upper-Tier REMIC pursuant to Section 4.04 of the Pooling and Servicing Agreement.

 

Capitalized terms used
but not defined herein have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

IN WITNESS WHEREOF, the
Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized officer this ___day of _________,
20__.

	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

         
 

    	C-3-4

    	 

    

 

On this ____ day of _______20__,
before me, the undersigned, a Notary Public in and for the State of _______________, duly commissioned and sworn, personally appeared
______________________ and ________________________, known or proved to me to be the same persons who executed the foregoing instrument
and to be _____________________________ and ___________________________, respectively, of the Purchaser, and acknowledged to me
that they executed the same as their respective free acts and deeds and as the free act and deed of the Purchaser.

	 	 	 
	 	 	NOTARY PUBLIC in and for the
	 	 	State of_______________
	 	 	 
	[SEAL]	 	 
	 	 	 
	My Commission expires:	 	 
	 	 	 

 

    	C-3-5

    	 

    

 

EXHIBIT C-4

 

FORM OF TRANSFEROR LETTER

 

[Date]

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__] 	 

 

Ladies and Gentlemen:

 

This letter is delivered
to you in connection with the transfer by [______] (the “Transferor”) to [______] (the “Transferee”)
of Class R Certificates evidencing a [__]% Percentage Interest in such Class (the “Residual Certificates”).
The Certificates, including the Residual Certificates, were issued pursuant to the pooling and servicing agreement dated as of
July 24, 2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities
Corp., as depositor (the “Depositor”), KeyBank National Association, as servicer and as Pearlridge special servicer,
Pacific Life Insurance Company, as Scottsdale special servicer and Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”) and as trustee (in such capacity, the “Trustee”).
All capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing
Agreement. The Transferor hereby certifies, represents and warrants to you, as Certificate Registrar, that:

 

(1)          No
purpose of the Transferor relating to the transfer of the Residual Certificates by the Transferor to the Transferee is or will
be to impede the assessment or collection of any tax.

 

(2)          The
Transferor understands that the Transferee has delivered to you a Transfer Affidavit and Agreement in the form attached to the
Pooling and Servicing Agreement as Exhibit C-3. The Transferor has no actual knowledge that the Transferee is not a Permitted Transferee
(as defined in such Transfer Affidavit and Agreement) and has no actual knowledge or reason to know that the Transferee’s
representations in such Transfer Affidavit and Agreement are false.

 

(3)          The
Transferor has at the time of this transfer conducted a reasonable investigation of the financial condition of the Transferee as
contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Transferor
has determined that the Transferee has historically paid its debts as they became due and has found no significant evidence to
indicate that the Transferee will not continue to pay its debts as they become due in

 

    	C-4-1

    	 

    

 

the future. The Transferor understands
that the transfer of the Residual Certificates may not be respected for United States income tax purposes (and the Transferor may
continue to be liable for United States income taxes associated therewith) unless the Transferor has conducted such an investigation.

	 	 	 
	 	Very truly yours,
	 	 
	 	(Transferor)
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	C-4-2

    	 

    

 

EXHIBIT C-5

 

FORM OF TRANSFEREE LETTER

 

[Date]

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

[Transferor]

[______]

[______]

Attention: [______]

 

		Re:	WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through
Certificates, Series 2015-WPG 	 

 

Ladies and Gentlemen:

 

The undersigned (the
“Purchaser”) proposes to purchase [$_____________ initial Certificate Principal Amount] [$_____________ initial
Notional Amount] [_____% Percentage Interest] of WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [_], CUSIP No. [____] (the “Certificates”), issued pursuant to the pooling and servicing
agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase
Commercial Mortgage Securities Corp., as depositor (the “Depositor”), KeyBank National Association, as servicer
and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special servicer and Wells Fargo Bank, National
Association, as certificate administrator (in such capacity, the “Certificate Administrator”) and as trustee
(in such capacity, the “Trustee”). Capitalized terms used and not otherwise defined herein have the respective
meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

In connection with such
transfer, the Purchaser hereby represents and warrants to you that with respect to the Class PR-2, Class SQ-2, Class SQ-3 and Class
R Certificates, the Purchaser is neither (i) a retirement plan or other employee benefit plan or arrangement, including an individual
retirement account or a Keogh plan, which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”),
or a governmental plan (as defined in Section 3(32) of ERISA) that is subject to any federal, state or local law (“Similar
Law”) that is, to a material extent, similar to the foregoing provisions of ERISA or the Code (each, a “Plan”),
nor (ii) a collective investment fund in which such Plans are invested, an insurance company using assets of separate accounts
or general accounts which include assets of

 

    	C-5-1

    	 

    

 

Plans (or which are deemed pursuant to
ERISA or Similar Law to include assets of Plans) or other Person acting on behalf of any such Plan or using the assets of any such
Plan, other than (with respect to any transfer of a Class PR-2, Class SQ-2 and Class SQ-3 Certificate) an insurance company using
assets of its general account under circumstances whereby such purchase and the subsequent holding of Certificate(s) by such insurance
company would be exempt from the prohibited transaction provisions of ERISA and Section 4975 of the Code under Sections I and III
of Prohibited Transaction Class Exemption 95-60 (or, in the case of a plan subject to Similar Law, the acquisition, holding and
disposition of such Certificate(s) will not constitute or otherwise result in a non-exempt violation of Similar Law).

 

    	C-5-2

    	 

    

 

IN WITNESS WHEREOF, the
Purchaser hereby executes this ERISA Representation Letter on the ___ day of _________, 20__.

	 	 	 
	 	Very truly yours,
	 	 	 
	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	C-5-3

    	 

    
 

EXHIBIT D

FORM OF REQUEST FOR RELEASE

(for Custodian)

 

Wells Fargo Bank, National Association

1055 10th Avenue, SE

Minneapolis, MN 55414

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP
Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG 	 

 

In connection with the
administration of the Mortgage Loans held by you as Custodian for the above referenced transaction, we request the release of the
[Custodian’s Mortgage File/specify documents] for the Mortgage Loan described below, for the reason indicated, pursuant to
Section 3.11 of the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Depositor”), KeyBank
National Association, as servicer and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special servicer
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”)
and as trustee (in such capacity, the “Trustee”). All capitalized terms used herein and not otherwise defined
shall have the meanings ascribed thereto in the Pooling and Servicing Agreement.

 

	Loan Information	 
	 	 
	Name of Borrower:	                              
	 	
	Servicer Loan No.:	                              
	 	 
	Custodian	 
	 	 
	Name:	                              
	 	 
	Address:	                              

                              
	 	 
	Custodian Mortgage File No.:	                              
	Depositor
	 	Name:	J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

    	D-1

    	 

    

 

	 	Address:	
        383 Madison Avenue, 31st Floor, New York, New York
        10179, Attention: Joseph E. Geoghan

	 	Certificates:	WP Glimcher Mall Trust 2015-WPG, Commercial Mortgage Pass-Through Certificates, Series 2015-WPG

 

The undersigned [Servicer]
[Special Servicer] hereby requests delivery from Wells Fargo Bank, National Association, as Custodian (the “Custodian”),
for the Holders of WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG, the documents
referred to below (the “Documents”). All capitalized terms not otherwise defined in this Request for Release
shall have the meanings given them in the Pooling and Servicing Agreement dated as of July 24, 2015, by and among J.P. Morgan Chase
Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as Pearlridge Special Servicer,
Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association, as Certificate Administrator,
and Trustee (the “Pooling and Servicing Agreement”).

 

(
)                         Note dated ________, in the original principal sum of $______,
made by _______, payable to, or endorsed to the order of, the Trustee.

 

( )         
  
            Mortgage(s)
recorded on ____________ as instrument no. ________ in the County Recorder’s Office of the County of _________, State of
___________ in book/reel/docket ___________ of official records at page/image ________.

 

( )                         Deed
of Trust(s) recorded on __________ as instrument no. ________ in the County Recorder’s Office of the County of ___________,
State of _______ in book/reel/docket ____________ of official records at page/image.

 

( )                         Deed
to Secure Debt recorded on __________ as instrument no. ________ in the County Recorder’s Office of the County of ___________,
State of _______ in book/reel/docket ____________ of official records at page/image.

 

( )                         Other
documents, including any amendments, assignments or other assumptions of the Note or Mortgages.

 

( )          ___________________________

 

( )          ___________________________

 

( )          ___________________________

 

( )          ___________________________

 

    	D-2

    	 

    

 

The undersigned [Servicer][Special
Servicer] hereby acknowledges and agrees as follows:

 

(1)          The
[Servicer][Special Servicer] shall hold and retain possession of the Mortgage Loan Documents in trust for the benefit of the Trustee,
solely for the purposes provided in the Pooling and Servicing Agreement.

 

(2)          The
[Servicer][Special Servicer] shall not cause or permit the Mortgage Loan Documents to become subject to, or encumbered by, any
claim, liens, security interest, charges, writs of attachment or other impositions nor shall the [Servicer][Special Servicer] assert
or seek to assert any claims or rights of set-off to or against the Mortgage Loan Documents or any proceeds thereof except as otherwise
provided in the Pooling and Servicing Agreement.

 

(3)          The
[Servicer][Special Servicer] shall return the Mortgage Loan Documents to the Custodian when the need therefor no longer exists,
unless the Mortgage Loan relating to the Mortgage Loan Documents has been liquidated or the Mortgage Loan has been paid in full
and the proceeds thereof have been remitted to the Collection Account except as expressly provided in the Pooling and Servicing
Agreement.

 

(4)          The
Mortgage Loan Documents and any proceeds thereof, including any proceeds of proceeds, coming into the possession or control of
the [Servicer][Special Servicer] shall at all times be held for the account of the Trustee, and the [Servicer][Special Servicer]
shall keep the Mortgage Loan Documents and any proceeds separate and distinct from all other property in the [Servicer’s][Special
Servicer’s] possession, custody or control.

	 	 	 	 
	 	 	[SERVICER][SPECIAL SERVICER]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Date: __________, ___	 	 	 

 

    	D-3

    	 

    

 

EXHIBIT E

 

FORM OF TRANSFER CERTIFICATE 

FOR RULE 144A GLOBAL CERTIFICATE 

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges or transfers pursuant to

Section 5.02(c) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__] 	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Global Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear]
[Clearstream]* (Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States;

 

 

 

*   Select appropriate depository.

 

    	E-1

    	 

    

 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States;]**

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable;
and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, Trustee, Certificate Administrator, Servicer, Special Servicers
and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Dated: __________	 	 	 

 

cc: J.P. Morgan Chase Commercial Mortgage Securities
Corp.

 

 

 

**   Insert one of these two
provisions, which come from the definition of “offshore transaction” in Regulation S.

 

    	E-2

    	 

    

 

EXHIBIT F

 

FORM OF TRANSFER CERTIFICATE

FOR RULE 144A GLOBAL CERTIFICATE 

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.02(d) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through
                                         Certificates, Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Global Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and, (i) with respect to transfers
made in reliance on Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States,

 

    	F-1

    	 

    
 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States,]*

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers
made in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates are being transferred
in a transaction permitted by Rule 144 under the Securities Act.**

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, Trustee, Certificate Administrator, Servicer, Special Servicers
and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Dated: __________	 	 	 

 

cc: J.P. Morgan Chase Commercial Mortgage Securities
Corp.

 

 

 

*   Insert one
of these two provisions, which come from the definition of “offshore transaction” in Regulation S. 

**   Select (i) or (ii), as
applicable.

 

    	F-2

    	 

    

 

EXHIBIT G

 

FORM OF TRANSFER CERTIFICATE

FOR TEMPORARY REGULATION S GLOBAL CERTIFICATE 

TO RULE 144A GLOBAL CERTIFICATE DURING RESTRICTED PERIOD

 

(Exchange or transfers pursuant to

Section 5.02(e) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount]of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS No.
[______] and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository in the name of [insert
name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer of such beneficial
interest for a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended
(the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates
for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion, and
the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of

 

 

 

*   Select appropriate depository.

 

    	G-1

    	 

    

 

Rule 144A and in accordance with any
applicable securities laws of any state of the United States or other applicable jurisdiction.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, Trustee, Certificate Administrator, Servicer, Special Servicers
and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Dated: __________	 	 	 

 

cc: J.P. Morgan Chase Commercial Mortgage Securities
Corp.

 

    	G-2

    	 

    

 

EXHIBIT H

 

FORM OF CERTIFICATION TO BE GIVEN BY

BENEFICIAL OWNER OF TEMPORARY

REGULATION S GLOBAL CERTIFICATE

 

(Exchanges pursuant to

Section 5.02(f) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

[For purposes of acquiring
a beneficial interest in a Regulation S Global Certificate of the Class specified above after the expiration of the Restricted
Period,] [For purposes of receiving payments under a Temporary Regulation S Global Certificate of the Class specified above,]*
the undersigned holder of a beneficial interest in a Temporary Regulation S Global Certificate of the Class specified above
issued under the Pooling and Servicing Agreement certifies that it is not a U.S. Person as defined by Regulation S under the
Securities Act of 1933, as amended.

 

We undertake to advise
you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification relating to the
Certificates of the Class specified above held by you for our account if any applicable statement herein is not correct on such
date, and in the absence of any such notification it may be assumed that this certification applies as of such date.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are

 

 

 

*   Select as applicable.

 

    	H-1

    	 

    

 

commenced or threatened in connection with
which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate to any interested party
in such proceeding. This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor,
Trustee, Certificate Administrator, Servicer, Special Servicers and the Initial Purchasers.

	 	 	 	 	 	 
	 	Dated:	__________	 	 
	 	  	 	 
	 	By:	 	 	 
	 	as, or as agent for, the holder of a beneficial interest in the Certificates to which this certificate relates.	 

 

    	H-2

    	 

    

 

EXHIBIT I

  

FORM OF TRANSFER CERTIFICATE 

FOR NON-BOOK ENTRY CERTIFICATE 

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges or transfers pursuant to

Section 5.02(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS No. [______] and ISIN No. [______])
to be held with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository.

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States;

 

 

 

*   Select appropriate depository.

 

    	I-1

    	 

    
 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States;]**

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;] **

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable; and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, Trustee, Certificate Administrator, Servicer, Special Servicers
and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 
	Dated: __________	 	 	 

cc: J.P. Morgan Chase Commercial Mortgage Securities
Corp.

 

 

 

**   Insert one of these two
provisions, which come from the definition of “offshore transaction” in Regulation S.

 

    	I-2

    	 

    
 

EXHIBIT J

 

FORM OF TRANSFER CERTIFICATE 

FOR NON-BOOK ENTRY CERTIFICATE 

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.02(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Regulation S Global Certificate (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and, (i) with respect to transfers
made in reliance on Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States,

 

    	J-1

    	 

    
 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States,]*

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable, and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers
made in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates are being
transferred in a transaction permitted by Rule 144 under the Securities Act.**

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, Trustee, Certificate Administrator, Servicer, Special Servicers
and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Dated: __________	 	 	 

cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

 

 

*   Insert one
of these two provisions, which come from the definition of “offshore transaction” in Regulation S. 

** Select (i) or (ii), as
applicable.

 

    	J-2

    	 

    

 

EXHIBIT K

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE 

TO RULE 144A GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.02(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Wells Fargo Center

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall 2015-WPG Commercial Mortgage Pass-Through Certificates,
Series 2015-WPG, Class [__]	 

 

Reference is hereby made
to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling and Servicing Agreement”), by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Servicer and as
Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such beneficial interest for a beneficial
interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended
(the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates
for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion, and
the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are

 

    	K-1

    	 

    

 

commenced or threatened in connection with
which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate to any interested party
in such proceeding. This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor,
Trustee, Certificate Administrator, Servicer, Special Servicers and the Initial Purchasers.

	 	 	 	 
	 	 	[Insert Name of Transferor]
	 	 	 	 
	 	 	By: 	
	 	 	 	Name:
	 	 	 	Title:
	Dated: __________	 	 	 

 

cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

    	K-2

    	 

    

 

EXHIBIT L-1

 

FORM OF INVESTOR CERTIFICATION

 

FOR

 

NON-BORROWER AFFILIATES

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG,
Class [   ] Certificates	 

 

In accordance with the
requirements for obtaining certain information under pooling and servicing agreement dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor (the “Depositor”),
KeyBank National Association, as Servicer and as Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special
Servicer and Wells Fargo Bank, National Association, as Certificate Administrator (in such capacity, the “Certificate
Administrator”), and as Trustee (in such capacity, the “Trustee”), with respect to the above-referenced
certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The
undersigned is a certificateholder, beneficial owner, or prospective purchaser of the Class of Certificates referenced above or
is a mortgage loan seller that has repurchased a portion of its loan pursuant to the Mortgage Loan Purchase Agreement, dated as
of July 24, 2015, among the Depositor, JPMorgan Chase Bank, National Association and German American Capital Corporation or otherwise
meets the definition of “Privileged Person” under the Pooling and Servicing Agreement.

 

2.          The
undersigned is not a Borrower, a manager of a Mortgaged Property, an Affiliate of any of the foregoing or an agent of any Borrower.

 

3.           The
undersigned has received a copy of the Offering Circular.

 

4.          [The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s website and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement. In consideration
of the disclosure to the undersigned of the Information, or the

 

    	L-1-1

    	 

    

 

access thereto, the undersigned will keep
the Information confidential (except from such outside persons as are assisting it in making an evaluation in connection with purchasing
the related Certificates, from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies
to which the undersigned is subject), and such Information will not, without the prior written consent of the Certificate Administrator,
be otherwise disclosed by the undersigned or by its officers, directors, partners, employees, agents or representatives (collectively,
the “Representatives”) in any manner whatsoever, in whole or in part; provided, however, that
the obligations of the undersigned to keep any such information confidential shall expire one year following the date that the
undersigned is no longer a Certificateholder or a beneficial owner of the Class of Certificates referenced above. The undersigned
will not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act
of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require
registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.]

 

5.          The
undersigned shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Certificate Administrator, the Paying Agent, the Servicer, the Special Servicers and the Trust
Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.          The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website.

 

7.          Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

    	L-1-2

    	 

    
 

EXHIBIT L-2

 

FORM OF INVESTOR CERTIFICATION

 

FOR

 

BORROWER AFFILIATES

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

	Attention:	WP Glimcher
Mall Trust 2015-WPG, Commercial Mortgage Pass Through Certificates, Series 2015-WPG, Class [ ] Certificates	 

 

In accordance with the
requirements for obtaining certain information pursuant to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank
National Association, as Servicer and as Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer
and Wells Fargo Bank, National Association, as Certificate Administrator (in such capacity, the “Certificate Administrator”),
and as Trustee (in such capacity, the “Trustee”), with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.          The
undersigned is a certificateholder, beneficial owner, or prospective purchaser of the Class of Certificates referenced above.

 

2.          The
undersigned is the Borrower or is an agent or Affiliate of the Borrower, a manager of a Mortgaged Property, an Affiliate of any
of the foregoing or an agent of any Borrower.

 

3.           The
undersigned has received a copy of the Offering Circular.

 

4.          
The undersigned is requesting access to the Distribution Date Statement in accordance with the Pooling and Servicing
Agreement (the “Information”) and agrees to keep the Information confidential (except from such outside
persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Certificate Administrator, be otherwise
disclosed by the undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the
“Representatives”) in any manner whatsoever, in whole or in part; provided, however, that
the obligations of the undersigned to keep any such information confidential shall expire one year following the date

 

    	L-2-1

    	 

    

 

that the undersigned is no longer a Certificateholder
or a beneficial owner of the Class of Certificates referenced above.

 

5.          The
undersigned acknowledges that it will not be entitled to access the Investor Q&A Forum or to any reports or information with
respect to the Certificates other than the Distribution Date Statement as set forth in Paragraph 4 above.

 

            The
undersigned will not use or disclose the Information in any manner which could result in a violation of any provision of the Securities
Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would
require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

6.          The
undersigned shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Certificate Administrator, the Paying Agent, the Servicer, the Special Servicers and the Trust
Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.          The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website.

 

8.          Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

    	L-2-2

    	 

    

 

EXHIBIT L-3

 

FORM OF CERTIFICATION FOR NRSROs

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

	Attention:	WP Glimcher
Mall Trust 2015-WPG, Commercial Mortgage Pass Through Certificates, Series [   ] 2015-WPG	 

 

In accordance with the
requirements for obtaining certain information pursuant to the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Depositor”),
KeyBank National Association, as servicer and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special
servicer and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”) and as trustee (in such capacity, the “Trustee”), with respect to the above-referenced
certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

Either: (A) The undersigned
is a “Rating Agency” under the Pooling and Servicing Agreement, or

 

(B) The undersigned is
an NRSRO and has provided the Depositor with the appropriate certifications under Exchange Act 17g-5(e), has access to the
Depositor’s 17g-5 website, and agrees that any confidentiality agreement applicable to the undersigned with respect to information
obtained from the Depositor’s 17g-5 website shall also be applicable to information obtained from the 17g-5 Information Provider’s
website.

 

The undersigned shall
be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate Administrator’s
website, Depositor’s 17g-5 website and the 17g-5 Information Provider’s website.

 

Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

    	L-3-1

    	 

    

 

EXHIBIT L-4

 

FORM OF VOTING RIGHTS CERTIFICATION

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust (CMBS)

WP Glimcher Mall Trust Series 2015-WPG

 

		Re:	WP Glimcher Mall Trust 2015-WPG Commercial Mortgage Pass-Through Certificates, Series 2015-WPG,
Class [   ] Certificates	 

 

In accordance with the
requirements for the exercise of Voting Rights under the pooling and servicing agreement dated as of July 24, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Depositor”),
KeyBank National Association, as servicer and as Pearlridge special servicer, Pacific Life Insurance Company, as Scottsdale special
servicer and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”) and as trustee (in such capacity, the “Trustee”), with respect to the above-referenced
certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The
undersigned is a certificateholder, beneficial owner, or prospective purchaser of the Class of Certificates referenced above.

 

2.          The
undersigned intends to exercise Voting Rights under the Agreement, and certifies that it (i) is not a Borrower, a manager of a
Mortgaged Property, an Affiliate of any of the foregoing or an agent of any Borrower and (ii) is not the Depositor, the Servicer,
a Special Servicer, the Trustee, the Certificate Administrator, any affiliate of any of the foregoing or an agent, principal, partner,
member, joint venturer, limited partner, employee, representative, director, trustee, advisor of or investor or an agent of any
Borrower.

 

3.          The
undersigned shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Certificate Administrator, the Paying Agent, the Servicer, the Special Servicers and the Trust
Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

4.          Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

    	L-4-1

    	 

    

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

    	L-4-2

    	 

    

 

EXHIBIT M

 

Relevant
Servicing Criteria

 

The assessment of compliance
to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing
Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including,
without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance
provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this
Exhibit M, other than with respect to Item 1122(d)(2)(iii), references to Servicer below shall include any Sub-Servicer
engaged by a Servicer or Special Servicer.

  

	Servicing Criteria 	applicable
    

Servicing 

Criteria
	Reference	Criteria	 
	 	General
    Servicing Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Servicer

    Special Servicer
	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Servicer

    Special Servicer
	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Servicer

        Special
        Servicer

         

	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Servicer

        Special
        Servicer

         

	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	N/A

     
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Servicer
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Servicer

    Special Servicer
	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.
    For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial
    institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Servicer

    Special Servicer

 

    	M-1

    	 

    

 

	Servicing Criteria 	applicable
    

Servicing 

Criteria
	Reference	Criteria	 
	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Servicer

    Special Servicer
	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days
    after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed
    and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling
    items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number
    of days specified in the transaction agreements.	Servicer

    Special Servicer
	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and
    other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms
    specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations;
    and (D) agree with investors’ or the certificate administrator’s records as to the total unpaid principal
    balance and number of mortgage loans serviced by the Reporting Servicer.	N/A
	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	N/A
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	N/A
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	N/A
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Servicer

    Special Servicer
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	N/A
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Servicer

    Special Servicer
	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan
    documents.	Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made,
    reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Servicer

    Special Servicer
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and
    repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
    Servicer

 

    	M-2

    	 

    

 

	Servicing Criteria 	applicable
    

Servicing 

Criteria
	Reference	Criteria	 
	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements,
    and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters
    and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Servicer
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the
    obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements;
    (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and
    state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage
    loans, or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xiv)	 Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Servicer
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB,
    is maintained as set forth in the transaction agreements.	N/A

 

At all times that the Servicer
and Special Servicer are the same entity, the Servicer and the Special Servicer may provide a combined assessment of compliance
in respect of their combined responsibility under Section 1122 of Regulation AB.

 

    	M-3

    	 

    

 

EXHIBIT N

 

Servicing
Function Participants

 

[None.]

 

    	N-1

    	 

    

 

EXHIBIT O

 

ONLINE MARKET DATA PROVIDER CERTIFICATION

 

This Certification has been prepared
for provision of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.
If you represent a Market Data Provider not listed herein and would like access to the information, please contact CTSLink at 866-846-4526,
or at ctslink.customerservice@wellsfargo.com.

 

In connection with
the J.P. Morgan Chase Commercial Mortgage Securities Corp., Series 2015-WPG Certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of Bloomberg, L.P., Trepp,
LLC, Intex Solutions, Inc., BlackRock Financial Management, Inc., Interactive Data Corporation, CMBS.com and Markit, a market data
provider that has been given access to the Distribution Date Statements, CREFC Reports and supplemental notices on www.ctslink.com
(“CTSLink”) by request of the Depositor.

 

		2.	The undersigned agrees that each time it accesses CTSLink, the undersigned
is deemed to have recertified that the representation above remains true and correct.

 

		3.	The undersigned acknowledges and agrees that the provision to it
of information and/or reports on CTSLink is for its own use only, and agrees that it will not disseminate or otherwise make such
information available to any other person without the written consent of the Depositor, and any confidentiality agreement applicable
to the undersigned with respect to information obtained from the Depositor’s 17g-5 website shall also be applicable to information
obtained from CTSLink.

 

		4.	Capitalized terms used but not defined herein shall have the respective
meanings assigned thereto in the agreement pursuant to which the Certificates were issued.

 

BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly
authorized signatory, as of the date certified.

 

		By:	 	
	 	 	Name:	 
	 	 	Title:	 

 

    	O-1

    	 

    

 

EXHIBIT P

 

FORM OF DISTRIBUTION

DATE STATEMENT

 

(See Attached)

 

    	P-1

    	 

    

 

EXHIBIT Q

 

CREFC®
PAYMENT INFORMATION

 

Payments shall be made to “CRE Finance Council”
and sent to:

Commercial Real Estate Finance Council, Inc.

900 7th Street, NW, Suite 820

Washington, DC 20001

Attn: Stephen M. Renna

 

or by wire transfer to:

 

Account Name: Commercial Real Estate Finance Council (CREFC®)

Bank Name: Chase

Bank Address: 80 Broadway, New York, NY 10005

Routing Number: 021000021

Account Number: 213597397

 

    	Q-1

    	 

    

 

EXHIBIT R

ADDITIONAL FORM 10-D DISCLOSURE

The parties identified
in the “Party Responsible” column are obligated pursuant to Section 12.04 of the Pooling and Servicing Agreement to
disclose to the Depositor and the Certificate Administrator (or the Servicer, to the extent specified in Section 12.04 of the Pooling
and Servicing Agreement) any information described in the corresponding Form 10-D Item described in the “Item on Form 10-D”
column to the extent such party has knowledge (and in the case of net operating income information, financial statements, annual
operating statements, budgets and/or rent rolls required to be provided in connection with Item 6 below, possession) of such information
(other than information as to itself). Each of the Certificate Administrator, the Trustee, the Servicer and each Special Servicer
(in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus Supplement (other than information with respect
to itself that is set forth in or omitted from the Prospectus Supplement), in the absence of specific notice to the contrary from
the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the Servicer and each Special Servicer
(in its capacity as such) shall be entitled to assume that there is no “significant obligor” other than a party or
property identified as such in the Prospectus Supplement and to assume that no other party or property will constitute a “significant
obligor” after the Cut-off Date. In no event shall the Servicer or a Special Servicer be required to provide any information
for inclusion in a Form 10-D that relates to any Mortgage Loan for which the Servicer or such Special Servicer is not the Servicer
or the Special Servicer, as the case may be. For this Series 2015-WPG Pooling and Servicing Agreement, each of the Certificate
Administrator, the Trustee, the Servicer and each Special Servicer (in its capacity as such) shall be entitled to assume that there
is no provider of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation
AB.

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	
         

        Item 1A: Distribution and Pool Performance Information:

         

        ·     Item
        1121(a)(13) of Regulation AB

         
	
         

        ·     Certificate
        Administrator

	
         

        Item 1B: Distribution and Pool Performance Information:

         

        ·     Item
        1121(a)(14) of Regulation AB

         
	
         

        ·     Certificate
        Administrator

         

        ·     Depositor

         

 

    	Exhibit R-1

    	 

    

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	

         

        Item 2: Legal Proceedings:

         

        ·     Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described therein that
        are material to security holders)
	

         

        ·     Servicer
        (as to itself)

         

        ·     Special
        Servicer (as to itself)

         

        ·     Certificate
        Administrator (as to itself)

         

        ·     Trustee
        (as to itself)

         

        ·     Depositor
        (as to itself)

         

        ·     Any
        other Reporting Servicer (as to itself)

         

        ·     Trustee/Certificate
        Administrator/Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of the proceedings)

         

        ·     Each
        Mortgage Loan Seller as sponsor (as defined in Regulation AB)

         

        ·     Originators
        under Item 1110 of Regulation AB

         

        ·     Party
        under Item 1100(d)(1) of Regulation AB

	
         

        Item 3: Sale of Securities and Use of Proceeds

        

        
	
         

        ·     Depositor

	
         

        Item 4: Defaults Upon Senior Securities

        

        
	
         

        ·     Certificate
        Administrator

	
         

        Item 5: Submission of Matters to a Vote of Security Holders

        

        
	
         

        ·     Certificate
        Administrator

	
         

        Item 6: Significant Obligors of Pool Assets:

         

        ·     Item
        1112(b) of Regulation AB provided, however, that all of the following conditions shall apply:

         

        (a) information shall be required to be reported only with
        respect to a party or
	
         

        ·     Servicer
        (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ·     Special
        Servicer (as to REO Properties)

 

    	Exhibit R-2

    	 

    

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	
        property (if any) identified as a “significant obligor”
        in the Prospectus Supplement;

         

        (b) the information to be reported shall consist of such
        quarterly and annual operating statements, budgets and rent rolls of the related Mortgaged Property or REO Property (as applicable),
        and quarterly and annual financial statements of the related Borrower (except in the case of an REO Property), received or prepared
        by the “Party Responsible” pursuant to its obligations under [Section 3.12(b)] of this Pooling and Servicing Agreement;
        provided, however, that for a significant obligor under item 1101(k)(2) of Regulation AB, only net operating income
        for the most recent fiscal year and interim period is required and, if such information for a prior period was required but not
        previously reported, such information for such prior period; and

         

        (c) the information shall be reportable in the Form 10-D
        that relates to the Distribution Date that immediately follows the Collection Period in which the information was received or prepared
        by the “Party Responsible” as described in clause (b) above.

         

         
	 
	
         

        Item 7: Significant Enhancement Provider Information:

         

        ·     Item
        1114(b)(2) and Item 1115(b) of Regulation AB

         

         
	
         

        ·     Depositor

	
         

        Item 8: Other Information, but only to the extent of any
        information that meets all the following conditions: (a) such information constitutes “Additional Form 8-K Disclosure”
        pursuant to Exhibit DD, (b) such information is required to be reported as
	
         

        ·     Certificate
        Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent that such party is the “Party Responsible”
        with respect to such information pursuant to Exhibit DD.

         

 

    	Exhibit R-3

    	 

    

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	“Additional Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such information was not previously reported as “Additional Form 8-K Disclosure”.	
         

        ·     Certificate
        Administrator (including the balances of the Distribution Account, the Interest Reserve Account and the Gain-on-Sale Reserve Account
        as of the related Distribution Date and the preceding Distribution Date)

         

        ·     Servicer
        (with respect to the balances of each REO Account (to the extent the related information has been received from the Special Servicer
        within the time period specified in Section 13.4 of the Pooling and Servicing Agreement) and the Certificate Account as of the
        related Distribution Date and the preceding Distribution Date)

         

        ·     Special
        Servicer (with respect to the balance of each REO Account as of the related Distribution Date and the preceding Distribution Date)

         

        ·     Any
        other party responsible for disclosure items on Form 8-K (including each applicable Seller with respect to Item 1100(e) of Regulation
        AB to the extent material to Certificateholders)

	
         

        Item 9: Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i) and
        3(ii) of Item 601 of Regulation S-K)
	 

                                                                                ·     Depositor

	
         

        Item 9: Exhibits (no. 4):

         

        With respect to instruments defining the rights of security
        holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	
         

        ·     Certificate
        Administrator

         

        ·     Depositor

         

        provided, in each case, that this shall in no event
        be construed to make such party responsible for the initial filing of this Pooling and Servicing Agreement

         

        provided further, in each case, that in the
        event any reportable agreement is executed by the Depositor

         

 

    	Exhibit R-4

    	 

    

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	
         

         
	and the Trustee or Certificate Administrator, then the Depositor shall be the responsible party.
	
         

        Item 9: Exhibits (no. 10):

         

        Material contracts (Exhibit No. 10 of Item 601 of Regulation
        S-K)
	
         

        ·     Certificate
        Administrator, Trustee, Servicer and/or

        Special Servicer, in each case to the extent of
        any contract that satisfies all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans
        or REO Mortgage Loans, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party)
        is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of
        the Trust.

	
         

        Item 9: Exhibits (no. 22):

         

        Published Report Regarding Matters Submitted to
a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K), but only if the party that is the “Party Responsible”
with respect to Item 5 above elects to publish a report containing the information required by such Item 5 above and also elects
to report the information on Form 10-D by means of filing the published report and answering Item 5 by referencing the published
report. 
	
         

        ·     The
        applicable party that is the “Party Responsible” with respect to Item 5 as set forth above.

	
         

        Item 9: Exhibits (no. 23):

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
        601 of Regulation S-K), where the filing of a written consent is required with respect to material (in the Form 10-D) that is incorporated
        by reference in the Depositor’s registration statement.
	
         

        ·     Depositor

 

    	Exhibit R-5

    	 

    

 

	

Item on Form 10-D	 

                                                                                Party Responsible

	
         

        Item 9: Exhibits (no. 24)

         

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
        S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
        party, is signed pursuant to a power of attorney.
	
         

        ·     Certificate
        Administrator

	
         

        Item 9: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        Applicable.

	
         

        Item 9: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation
        S-K).
	
         

        ·     Not
        Applicable.

	
         

        Item 9: Exhibits (By Operation of Item 8 Above), but only
        to the extent of any document that meets all the following conditions: (a) such document constitutes “Additional Form 8-K
        Disclosure” pursuant to Item 9.01(d) of Exhibit DD, (b) such document is required to be reported as “Additional
        Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such document was not previously reported
        as “Additional Form 8-K Disclosure”.
	
         

        ·     Certificate
        Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible”
        for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Servicer or the Special Servicer
        constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits to a Form 10-K); provided,
        in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee or Certificate Administrator,
        then the Depositor shall be the responsible party for this Item 9.

 

    	Exhibit R-6

    	 

    
 

EXHIBIT
S

 

ADDITIONAL
FORM 10-K DISCLOSURE

 

The parties identified
in the “Party Responsible” column are obligated pursuant to Section 12.05 of the Pooling and Servicing Agreement to
disclose to the Depositor and the Certificate Administrator any information described in the corresponding Form 10-K Item described
in the “Item on Form 10-K” column to the extent such party has knowledge (and in the case of net operating income
information, financial statements, annual operating statements, budgets and/or rent rolls required to be provided in connection
with 1112(b) below, possession) of such information (other than information as to itself). Each of the Certificate Administrator,
the Trustee, the Servicer and each Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the
Prospectus Supplement (other than information with respect to itself that is set forth in or omitted from the Prospectus Supplement),
in the absence of specific notice to the contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator,
the Trustee, the Servicer and each Special Servicer (in its capacity as such) shall be entitled to assume that there is no “significant
obligor” other than a party or property identified as such in the Prospectus Supplement and to assume that no other party
or property will constitute a “significant obligor” after the Cut-off Date. In no event shall the Servicer or a Special
Servicer be required to provide any information for inclusion in a Form 10-K that relates to any Mortgage Loan for which the Servicer
or such Special Servicer is not the applicable Servicer or Special Servicer, as the case may be. For this Series 2015-WPG Pooling
and Servicing Agreement, each of the Certificate Administrator, the Trustee, the Servicer and each Special Servicer (in its capacity
as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within
the meaning of Items 1114 or 1115 of Regulation AB.

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
         

        Item 1B: Unresolved Staff Comments

         

         
	
         

        ·     Depositor

	
         

        Item 9B: Other Information, but only to the extent of any
        information that meets all the following conditions:

         

        (a) such information constitutes “Additional Form 8-K
        Disclosure” pursuant to Exhibit T,

         

        (b) such information is required to be reported as “Additional
        Form 8-K Disclosure” during the period to which the Form 10-K relates, and

         

        (c) such information was not previously
	
         

        ·     Certificate
        Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent that such party is the “Party Responsible”
        with respect to such information pursuant to Exhibit DD.

 

    	Exhibit S-1

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	reported as “Additional Form 8-K Disclosure” or as “Additional Form 10-D Disclosure”	 
	
         

        Item 15: Exhibits, Financial Statement Schedules (SEE BELOW)
	
         

        SEE BELOW

	
        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 1 of 3 Parts:

         

        ·     Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was required to have been set forth in the Prospectus
        Supplement, (ii) such information was not so set forth and (iii) the applicable Servicer has not previously reported such information
        as “Additional Form 10-D Information”.

         

         
	
         

        ·     The
        applicable Mortgage Loan Seller.

         

         

	
         

        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 2 of 3 Parts:

         

        ·     Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was set forth in the Prospectus Supplement and (ii)
        the applicable Servicer has not previously reported such information or updated versions thereof as “Additional Form 10-D
        Information”.

         

         
	
         

        ·     The
        Depositor

	
         

        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 3 of 3 Parts:

         

        ·     Item
        1112(b) of Regulation AB; provided, however, that all of the following conditions shall apply:

         

        (a) information shall be required to be reported only with
        respect to a party or
	
         

        ·     Servicer
        (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ·     Special
        Servicer (as to REO Properties)

 

    	Exhibit S-2

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
        property (if any) identified as a “significant obligor”
        in the Prospectus Supplement;

         

        (b) the information to be reported shall consist of such
        quarterly and annual operating statements, budgets and rent rolls of the related Mortgaged Property or REO Property (as applicable),
        and quarterly and annual financial statements of the related Borrower (except in the case of an REO Property), received or prepared
        by the “Party Responsible” pursuant to its obligations under [Section 3.12(b)] of this Pooling and Servicing Agreement;
        provided, however, that for a significant obligor described under item 1101(k)(2) of Regulation AB, only net operating
        income for the most recent fiscal year and interim period is required and, if such information for a prior period was required
        but not previously reported, such information for such prior period; and

         

        (c) the information shall be reportable only to the extent
        that is has not previously been reported as “Additional Form 10-D Information”.

         

         
	 
	
         

        Instruction J(2)(c) (Significant Enhancement Provider Information):

         

        ·     Items
        1114(b)(2) and 1115(b) of Regulation AB

         

         
	·     Depositor
	
         

        Instruction J(2)(d) (Legal Proceedings):

         

        ·     Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described therein that
        are material to security holders)
	
         

        ·     Servicer
        (as to itself)

         

        ·     Special
        Servicer (as to itself)

         

        ·     Certificate
        Administrator (as to itself)

         

        ·     Trustee
        (as to itself)

         

 

    	Exhibit S-3

    	 

    

 

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	 	
         

        ·     Depositor
        (as to itself)

         

        ·     Trustee/Certificate
        Administrator /Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of the proceedings)

         

        ·     Each
        Mortgage Loan Seller as sponsor (as defined in Regulation AB)

         

        ·     Originators
        under Item 1110 of Regulation AB

         

        ·     Party
        under Item 1100(d)(1) of Regulation AB

	
         

        Instruction J(2)(e) (Affiliations and Certain Relationships
        and Related Transactions) – Part 1 of 2 Parts:

         

        1119(a) of Regulation AB,

         

        but only the existence and (if existent) how there is (that
        is, the nature of) any affiliation between itself (that is, the particular “Party Responsible”), on the one hand, and
        any one or more of the following, on the other: (1) the Depositor, (2) any Mortgage Loan Seller, (3) the Trust and (4) any other
        party listed under this item as a “Party Responsible”; provided, however, that an affiliation
        need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously
        reported as “Additional Form 10-K Disclosure”.

         

        and

         

        ·     1119(b)
        of Regulation AB,

         

        but only the existence and (if existent) the general character
        of any business relationship, agreement, arrangement, transaction or understanding that is entered
	
         

        ·     Servicer
        (as to itself) (only as to affiliations under Item 1119(a) with the Trustee, Certificate Administrator, each Special Servicer or
        a sub-servicer retained by it meeting any of the descriptions in Item 1108(a)(3)).

         

        ·     Special
        Servicer

         

        ·     Certificate
        Administrator

         

        ·     Trustee

         

        ·     Each
        party (other than a Mortgage Loan Seller), if any, that is identified in the Prospectus Supplement as an “originator”
        of one or more Mortgage Loans, if the Prospectus Supplement specifically states that the applicable Mortgage Loans were 10% or
        more of the assets of the Trust at the date of the Prospectus Supplement (provided that such a party shall no longer constitute
        a “Party Responsible” under this item from and after the date (if any) when the Depositor notifies the parties to this
        Agreement to the effect that such party no longer constitutes an originator of 10% or more of the assets of the Trust).

         

 

    	Exhibit S-4

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
        into outside the ordinary course of business or is on terms
        other than would be obtained in an arm’s length transaction with an unrelated third party (apart from the Series 201[_]-[_]
        transaction) between itself (that is, the particular “Party Responsible”) or any of its affiliates, on the one hand,
        and any one or more of the following, on the other: (1) the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust; provided,
        however, that a relationship, agreement, arrangement, transaction or understanding (A) must be reported only if it then
        exists or existed within the two prior years, (B) need not be reported if it is not material to an investor’s understanding
        of the Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus
        Supplement or if it was previously reported as “Additional Form 10-K Disclosure”.

         

        and

         

        ·     1119(c)
        of Regulation AB,

         

        but only the existence and (if existent) a description (including
        the terms and approximate dollar amount) of any specific relationship involving or related to the Series 201[_]-[_] transaction
        or the Mortgage Loans between itself (that is, the particular “Party Responsible”) or any of its affiliates, on the
        one hand, and any one or more of the following, on the other: (1) the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust;
        provided, however, that a relationship (A) must be reported only if it then exists or existed within the two prior
        years, (B) need not be reported if it is not material to an investor’s understanding of the Certificates and (C) need not
        be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously
        reported as “Additional Form 10-
	
         

        ·     Each
        party (other than a Mortgage Loan Seller), if any, that is specifically identified as an “originator of 10% or more of the
        assets of the Trust for purposes of Regulation AB and the upcoming Form 10-K” in a written notice delivered to the parties
        to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year in which the Form 10-K
        is due.

         

        ·     Each
        party (if any) that is identified in the Prospectus Supplement as an “other material party to the securities or transaction”
        (or substantially similar phrasing); provided, however, that such a party shall no longer constitute a “Party Responsible”
        under this item from and after the date (if any) when the Depositor notifies the parties to this Agreement to the effect that such
        party no longer constitutes a material party for purposes of Regulation AB.

         

        ·     Each
        party (if any) that that is specifically identified as an “other material party to the securities or transaction for purposes
        of Regulation AB and the upcoming Form 10-K” (or substantially similar phrasing) in a written notice delivered by the Depositor
        to the parties to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year in which
        the Form 10-K is due.

 

    	Exhibit S-5

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
        K Disclosure”.

         

         
	 
	
         

        Instruction J(2)(e) (Affiliations and Certain Relationships
        and Related Transactions) – Part 2 of 2 Parts:

         

        1119(a) of Regulation AB,

         

        But only the existence and (if existent) how there is any
        affiliation between itself (that is, the particular “Party Responsible”), on the one hand, and any one or more of the
        parties listed under the preceding item as a “Party Responsible”, on the other; provided, however,
        that an affiliation need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus Supplement
        or if it was previously reported as “Additional Form 10-K Disclosure”.

         

        and

         

        ·     1119(b)
        of Regulation AB,

         

        but only the existence and (if existent) the general character
        of any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course
        of business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party (apart
        from the Series 201[_]-[_] transaction) between itself (that is, the particular “Party Responsible”), on the one hand,
        and any one or more of the parties listed under the preceding item as a “Party Responsible”, on the other; provided,
        however, that a relationship, agreement, arrangement, transaction or understanding (A) must be reported only if it then
        exists or existed within the two prior years, (B) need not be reported if it is not material to an investor’s understanding
        of the Certificates
	
         

        ·     The
        Depositor

         

        ·     Each
        Mortgage Loan Seller

 

    	Exhibit S-6

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
        and (C) need not be disclosed for purposes of the applicable
        Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously reported as “Additional Form 10-K Disclosure”.

         

        and

         

        ·     1119(c)
        of Regulation AB,

         

        but only the existence and (if existent) a description (including
        the terms and approximate dollar amount) of any specific relationship involving or related to the Series 201[_]-[_] transaction
        or the Mortgage Loans between itself (that is, the particular “Party Responsible”) or any of its affiliates, on the
        one hand, and any one or more of the parties listed under the preceding item as a “Party Responsible”, on the
        other; provided, however, that a relationship (A) must be reported only if it then exists or existed within the two
        prior years, (B) need not be reported if it is not material to an investor’s understanding of the Certificates and (C) need
        not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously
        reported as “Additional Form 10-K Disclosure”.

         

         
	 
	
         

        Item 15: Exhibits (no. 2):

         

        Plan of acquisition, reorganization, arrangement, liquidation
        or succession (Exhibit No. 2 of Item 601 of Regulation S-K)
	
         

        ·     Depositor

	
         

        Item 15: Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i) and
        3(ii) of Item 601 of Regulation S-K)
	
         

        ·     Depositor

 

    	Exhibit S-7

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
         

        Item 15: Exhibits (no. 4):

         

        With respect to instruments defining the rights of security
        holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	
         

        ·     Trustee

         

        ·     Certificate
        Administrator

         

        ·     Depositor

         

        provided, in each case, that this shall in no event
        be construed to make such party responsible for the initial filing of this Pooling and Servicing Agreement

         

        provided further, in each case, that in the
        event any reportable agreement is executed by the Depositor and the Trustee or Certificate Administrator, then the Depositor shall
        be the responsible party.

	
         

        Item 15: Exhibits (no. 10):

         

        Material contracts (Exhibit No. 10 of Item 601 of Regulation
        S-K)
	
         

        ·     Certificate
        Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the
        following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans, and (b) such
        contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or
        a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.

	
         

        Item 15: Exhibits (no. 11):

         

        Statement regarding computation of per share earnings (Exhibit
        No. 11 of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 15: Exhibits (no. 12):

         

        Statement regarding computation of ratios (Exhibit No. 12
        of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable.

 

    	Exhibit S-8

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
         

        Item 15: Exhibits (no. 13):

         

        Annual report to security holders, Form 10-Q and Form 10-QSB,
        or quarterly report to security holders (Exhibit No. 13 of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 15: Exhibits (no. 14):

         

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        Applicable.

	
         

        Item 15: Exhibits (no. 16):

         

        Letter re change in certifying accountant (Exhibit No. 16
        of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 15: Exhibits (no. 18):

         

        Letter re change in accounting principles (Exhibit No. 18
        of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable.

	
         

        Item 15: Exhibits (no. 21):

         

        Subsidiaries of registrant (Exhibit No. 18 of Item 601 of
        Regulation S-K)
	
         

        ·     Depositor.

	
         

        Item 15: Exhibits (no. 22):

         

        Published Report Regarding Matters Submitted to a Vote of
        Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K).
	
         

        ·     Not
        applicable.

	
         

        Item 15: Exhibits (no. 23) – Part 1 of 2 Parts:

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
        601 of Regulation S-K), where (a) the filing of a written consent is required with respect to material (in the Form 10-D) that
        is incorporated by reference in the Depositor’s registration statement and (b) the
	
         

        ·     Depositor

 

    	Exhibit S-9

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	consent is not the consent of a registered public accounting firm in connection with an attestation delivered pursuant to Section 13.13 of this Pooling and Servicing Agreement.	 
	
         

        Item 15: Exhibits (no. 23) – Part 2 of 2 Parts:

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
        601 of Regulation S-K), but the required shall consist of a consent of the registered public accounting firm for purposes of any
        attestation report rendered with respect to the particular “Party Responsible” pursuant to Section 13.13 of this Pooling
        and Servicing Agreement.
	
         

        ·     Servicer

         

        ·     Special
        Servicer

         

        ·     Depositor

         

        ·     Any
        other Servicing Function Participant

         

        provided, however, in each case, that such
        party shall have the duty to report or deliver, or cause the reporting or delivery, of such consent only to the extent that such
        party is required to deliver or cause the delivery of the related attestation report.

	
         

        Item 15: Exhibits (no. 24)

         

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
        S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
        party, is signed pursuant to a power of attorney.
	
         

        ·     Certificate
        Administrator

	
         

        Item 15: Exhibits (no. 31(i))

         

        Rule 13a-14(a)/15d-14(a) Certifications (Exhibit No. 31(i)
        of Item 601 of Regulation S-K).
	
         

        ·     Not
        Applicable

	
         

        Item 15: Exhibits (no. 31(ii))

         

        Rule 13a-14(d)/15d-14(d) Certifications (Exhibit No. 31(ii)
        of Item 601 of Regulation S-K).
	
         

        ·     Delivery
        of this exhibit (Sarbanes-Oxley certification and backup certifications) is governed by Section 13.5) of this Pooling and Servicing
        Agreement.

	
         

        Item 15: Exhibits (no. 32)

         

        Section 1350 Certifications (Exhibit No. 32 of Item 601 of
        Regulation S-K).
	
         

        ·     Not
        Applicable.

 

    	Exhibit S-10

    	 

    

 

	
         

        Item on Form 10-K
	
         

        Party Responsible

	
         

        Item 15: Exhibits (no. 33)

         

        Report on assessment of compliance with servicing criteria
        for asset-backed securities (Exhibit No. 33 of Item 601 of Regulation S-K).
	
         

        ·     Delivery
        of this exhibit (annual compliance assessment) is governed by Section 13.12 (and Section 13.5) of this Pooling and Servicing Agreement.

	
         

        Item 15: Exhibits (no. 34)

         

        Attestation report on assessment of compliance with servicing
        criteria for asset-backed securities (Exhibit No. 34 of Item 601 of Regulation S-K).
	
         

        ·     Delivery
        of this exhibit (annual accountants’ attestation report) is governed by Section 13.13 (and Section 13.6) of this Pooling
        and Servicing Agreement.

	
         

        Item 15: Exhibits (no. 35)

         

        Servicer compliance statement (Exhibit No. 35 of Item 601
        of Regulation S-K).
	
         

        ·     Delivery
        of this exhibit (annual servicer compliance statements) is governed by Section 13.7 (and Section 13.4) of this Pooling and Servicing
        Agreement.

	
         

        Item 15: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        Applicable.

	
         

        Item 15: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation
        S-K).
	
         

        ·     Not
        Applicable.

	
         

        Item 15: Exhibits (By Operation of Item 9B Above), but only
        to the extent of any document that meets all the following conditions: (a) such document constitutes “Additional Form 8-K
        Disclosure” pursuant to Item 9.01(d) of Exhibit DD, (b) such document is required to be reported as “Additional
        Form 8-K Disclosure” during the period to which the Form 10-K relates, and (c) such document was not previously reported
        as “Additional Form 8-K Disclosure”.
	
         

        ·     Certificate
        Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible”
        for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Servicer or the Special Servicer
        constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits to a Form 10-K).

 

    	Exhibit S-11

    	 

    

 

EXHIBIT
T

 

FORM
8-K DISCLOSURE INFORMATION

 

The parties identified
in the “Party Responsible” column are obligated pursuant to Section 12.06 of the Pooling and Servicing Agreement to
report to the Depositor and the Certificate Administrator the occurrence of any event described in the corresponding Form 8-K Item
described in the “Item on Form 8-K” column to the extent such party has knowledge of such information (other than information
as to itself). Each of the Certificate Administrator, the Trustee, the Servicer and each Special Servicer (in its capacity as such)
shall be entitled to rely on the accuracy of the Prospectus Supplement (other than information with respect to itself that is set
forth in or omitted from the Prospectus Supplement), in the absence of specific notice to the contrary from the Depositor or a
Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the Servicer and each Special Servicer (in its capacity
as such) shall be entitled to assume that there is no “significant obligor” other than a party or property identified
as such in the Prospectus Supplement and to assume that no other party or property will constitute a “significant obligor”
after the Cut-off Date. In no event shall the Servicer or a Special Servicer be required to provide any information for inclusion
in a Form 8-K that relates to any Mortgage Loan for which the Servicer or such Special Servicer is not the applicable Servicer
or Special Servicer, as the case may be. For this Series 2015-WPG Pooling and Servicing Agreement, each of the Certificate Administrator,
the Trustee, the Servicer and each Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider
of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB.

	 	 
	
         

        Item on Form 8-K
	
         

        Party Responsible 

	
         

        Item 1.01: Entry into a Material Definitive Agreement

         
	
         

        ·     Depositor,
        except as described in the next bullet (it being acknowledged that Item 601 of Regulation S-K requires filing of material contracts
        to which the registrant or a subsidiary thereof is a party).

         

        ·     Certificate
        Administrator, Trustee, Servicer and/or Special Servicer (it being acknowledged that Instruction 3 to Item 1.01 of Form 8-K
        requires disclosure regarding the entry into or an amendment of a definitive agreement that is material to the asset-backed securities
        transaction, even if the registrant is not a party to such agreement), in each case to the extent of any amendment or definitive
        

 

    	Exhibit T-1

    	 

    

 

	
         

        Item on Form 8-K
	
         

        Party Responsible 

	 	agreement that satisfies all the following conditions: (a) such amendment or definitive agreement relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans, and (b) such amendment or definitive agreement is an amendment or definitive agreement to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this Pooling and Servicing Agreement.
	
         

        Item 1.02: Termination of a Material Definitive Agreement–
        Part 1 of 2 Parts
	
         

        ·     Certificate
        Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the
        following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans, and (b) such
        contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or
        a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided, however,
        that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this Pooling
        and Servicing Agreement.

	
         

        Item 1.02: Termination of a Material Definitive Agreement–
        Part 2 of 2 Parts
	
         

        ·     Depositor,
        to the extent of any material agreement not covered in the prior item

	
         

        Item 1.03: Bankruptcy or Receivership
	
         

        ·     Depositor

 

    	Exhibit T-2

    	 

    

 

	
         

        Item on Form 8-K
	
         

        Party Responsible 

	
         

        Item 2.04: Triggering Events that Accelerate or Increase
        a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
	
         

        ·     Depositor

         

        ·     Certificate
        Administrator

	
         

        Item 3.03: Material Modification to Rights of Security
        Holders
	
         

        ·     Certificate
        Administrator

	
         

        Item 5.03: Amendments of Articles of Incorporation or Bylaws;
        Change of Fiscal Year
	
         

        ·     Depositor

	
         

        Item 6.01: ABS Informational and Computational Material
	
         

        ·     Depositor

	
         

        Item 6.02 (Part 1 of 3 Parts): Change of Servicer or Trustee,
        but only to the extent related to a change in trustee
	
         

        ·     Trustee

         

        ·     Depositor

	
         

        Item 6.02 (Part 2 of 3 Parts): Change of Servicer or Trustee,
        but only to the extent related to a change in Servicer or Special Servicer
	
        ·     Certificate
        Administrator

         

        ·     Servicer
        or Special Servicer, as the case may be (in each case, as to itself)

	
         

        Item 6.02 (Part 3 of 3 Parts): Change of Servicer or Trustee,
        but only to the extent related to a servicer (other than a party to the Pooling and Servicing Agreement) appointed by the particular
        “Party Responsible”.
	
         

        ·     Servicer

         

        ·     Special
        Servicer

         

        ·     Certificate
        Administrator

         

        ·     Depositor

	
         

        Item 6.03: Change in Credit Enhancement or External Support
	
         

        ·     Depositor

         

        ·     Certificate
        Administrator

	
         

        Item 6.04: Failure to Make a Required Distribution
	
         

        ·     Certificate
        Administrator

	
         

        Item 6.05: Securities Act Updating Disclosure
	
         

        ·     Depositor

	
         

        Item 7.01: Regulation FD Disclosure
	
         

        ·     Depositor

	
         

        Item 8.01: Other Events
	
         

        ·     Depositor

 

    	Exhibit T-3

    	 

    

 

	
         

        Item on Form 8-K
	
         

        Party Responsible 

	
         

        Item 9.01(d): Exhibits (no. 1):

         

        Underwriting agreement (Exhibit No. 1 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        applicable

	
         

        Item 9.01(d): Exhibits (no. 2):

         

        Plan of acquisition, reorganization, arrangement, liquidation
        or succession (Exhibit No. 2 of Item 601 of Regulation S-K)
	
         

        ·     Depositor

	
         

        Item 9.01(d): Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i)
        and 3(ii) of Item 601 of Regulation S-K)
	
         

        ·     Depositor

	
         

        Item 9.01(d): Exhibits (no. 4):

         

        With respect to instruments defining the rights of security
        holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	
         

        ·     Certificate
        Administrator

         

        provided, in each case, that this shall in no
        event be construed to make such party responsible for the initial filing of this Pooling and Servicing Agreement

	
         

        Item 9.01(d): Exhibits (no. 7):

         

        Correspondence from an independent accountant regarding
        non-reliance on a previously issued audit report or completed interim review. (Exhibit No. 7 of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 9.01(d): Exhibits (no. 14):

         

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        Applicable

 

    	Exhibit T-4

    	 

    

 

	
         

        Item on Form 8-K
	
         

        Party Responsible 

	
         

        Item 9.01(d): Exhibits (no. 16):

         

        Letter re change in certifying accountant (Exhibit No.
        16 of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 9.01(d): Exhibits (no. 17):

         

        Correspondence on departure of director (Exhibit No. 17
        of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 9.01(d): Exhibits (no. 20):

         

        Other documents or statements to security holders (Exhibit
        No. 20 of Item 601 of Regulation S-K)
	
         

        ·     Not
        Applicable

	
         

        Item 9.01(d): Exhibits (no. 23):

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of
        Item 601 of Regulation S-K), where the filing of a written consent is required with respect to material (in the Form 10-D) that
        is incorporated by reference in the Depositor’s registration statement.
	
         

        ·     Depositor

	
         

        Item 9.01(d): Exhibits (no. 24)

         

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
        S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
        party, is signed pursuant to a power of attorney.
	
         

        ·     Certificate
        Administrator

	
         

        Item 15: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
        S-K)
	
         

        ·     Not
        Applicable.

	
         

        Item 15: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of
        Regulation S-K).
	
         

        ·     Not
        Applicable.

 

    	Exhibit T-5

    	 

    
 

EXHIBIT
U

 

ADDITIONAL
DISCLOSURE NOTIFICATION

 

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO cts.sec.notifications@wellsfargo.com
AND VIA OVERNIGHT MAIL TO THE ADDRESS IMMEDIATELY BELOW**

 

Wells Fargo Bank, National Association, as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attn: Corporate Trust Services (CMBS) J.P. Morgan Chase Commercial
Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2015-WPG—SEC REPORT PROCESSING

 

RE: **Additional Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies and Gentlemen:

 

In accordance with Section
[12.04] [12.05] [12.06] of the Pooling and Servicing Agreement, dated as of July 24, 2015 (the “Pooling and Servicing
Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association,
as Servicer and as Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo
Bank, National Institution, as Certificate Administrator and as Trustee, the undersigned, as [          ], hereby notifies you that certain
events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description of Additional Form [10-D][10-K][8-K] Disclosure:

 

List of any Attachments hereto to be included in the Additional
Form [10-D][10-K][8-K] Disclosure:

 

Any inquiries related to this notification should be directed
to [                       ],
phone number: [                       ];
email address: [                       ]. 

	 	 	 
	 	[NAME OF PARTY],
 as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Depositor

 

    	Exhibit U-1

    	 

    

 

 EXHIBIT V

 

[reserved]

 

    	Exhibit V-1

    	 

    

 

EXHIBIT
W

 

FORM
OF ANNUAL COMPLIANCE STATEMENT

 

CERTIFICATION

WP Glimcher Mall Trust 2015-WPG,

Commercial Mortgage Pass-Through Certificates

Series 2015-WPG (the “Trust”)

 

I, [identifying the certifying
individual], on behalf of [KeyBank National Association,] [as Servicer] [as Pearlridge Special Servicer] [Pacific Life Insurance
Company,] [as Scottsdale Special Servicer] [Wells Fargo Bank, National Association] [as Certificate Administrator] [as Trustee]
(the “Certifying Servicer”), certify to J.P. Morgan Chase Commercial Mortgage Securities Corp. and its officers,
directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

 

I (or Servicing
Officers under my supervision) have reviewed the Certifying Servicer’s activities [during the preceding calendar year] [between
[__] and [__]] and the Certifying Servicer’s performance under the Pooling and Servicing Agreement; and

 

To the best
of my knowledge, based on such review, the Certifying Servicer has fulfilled all of its obligations under the Pooling and Servicing
Agreement in all material respects [throughout such year] [between [__] and [__]]. [To my knowledge, the Certifying Servicer has
failed to fulfill the following obligations under the Pooling and Servicing Agreement: [SPECIFY EACH SUCH FAILURE AND THE NATURE
AND STATUS THEREOF]].

 

	Date: _______________________	
	 	 
	[KEYBANK NATIONAL ASSOCIATION, as servicer]

[KEYBANK NATIONAL ASSOCIATION, as Pearlridge special servicer]

[PACIFIC LIFE INSURANCE COMPANY, as Scottsdale special servicer]

[WELLS FARGO BANK, NATIONAL ASSOCIATION, as certificate administrator]

[WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee]
	 

 

 

    	Exhibit W-1

    	 

    

 

	By:	
 	 
	 	Name:	 
	 	Title:	 

 

    	Exhibit W-2

    	 

    

 

EXHIBIT
X

 

FORM
OF REPORT ON ASSESSMENT OF

COMPLIANCE with SERVICING CRITERIA

 

	1.	[Name of Reporting Servicer] (the “Reporting Servicer”)
is responsible for assessing compliance with the servicing criteria applicable to it under paragraph (d) of Item 1122 of Regulation
AB, as of and for the 12-month period ending December 31, 20[__] (the “Reporting Period”), as set forth in Exhibit
AA to the Pooling and Servicing Agreement. The transactions covered by this report include asset-backed securities transactions
for which the Reporting Servicer acted as [a servicer, special servicer, trustee, certificate administrator] involving commercial
mortgage loans [other than __________________2]
(the “Platform”);

 

The Reporting Servicer has engaged certain
vendors, which are not servicers as defined in Item 1101(j) of Regulation AB (the “Vendors”) to perform specific,
limited or scripted activities, and the Reporting Servicer elects to take responsibility for assessing compliance with the servicing
criteria or portion of the servicing criteria applicable to such Vendors’ activities as set forth on Schedule A;

 

Except as set forth in paragraph 4 below,
the Reporting Servicer used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess the compliance with
the applicable servicing criteria;

 

The criteria listed in the column titled
“Inapplicable Servicing Criteria” on Schedule A hereto are inapplicable to the Reporting Servicer based on the activities
it performs, directly or through its Vendors, with respect to the Platform;

 

The Reporting Servicer has complied, in
all material respects, with the applicable servicing criteria as of December 31, 20[__] and for the Reporting Period with respect
to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The Reporting Servicer has not identified
and is not aware of any material instance of noncompliance by the Vendors with the applicable servicing criteria as of December
31, 20[__] and for the Reporting Period with respect to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The Reporting Servicer has not
identified any material deficiency in its policies and procedures to monitor the compliance by the Vendors with the
applicable servicing criteria as of December 31, 20[__] and for the Reporting Period with respect to the Platform taken as a
whole[, except as described on Schedule B hereto]; and

 

 

 

2 Describe any permissible exclusions, including
those permitted under telephone interpretation 17.04 (i.e. transactions registered prior to compliance with Regulation AB, transactions
involving an offer and sale of asset backed securities that were not required to be issued), if applicable.

 

    	X-1

    	 

    

 

[____], a registered public accounting firm, has issued an
attestation report on the Reporting Servicer’s assessment of compliance with the applicable servicing criteria for the
Reporting Period.

 

[Date of Certification]

	 	 	 
	 	[Name of Reporting Servicer]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	X-2Exhibit 4.3

 

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.,

as Depositor

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Master Servicer

 

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

as Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Certificate Administrator

 

WILMINGTON
TRUST, NATIONAL ASSOCIATION,

as Trustee

 

and

 

PENTALPHA
SURVEILLANCE LLC,

as Senior Trust Advisor

 

POOLING
AND SERVICING AGREEMENT

 

Dated
as of

 

June
1, 2015

 

JPMBB
Commercial Mortgage Securities Trust 2015-C29

Commercial Mortgage Pass-Through Certificates

 

Series
2015-C29

 

    	 

    	 

    

 

	 	 	 	 	 
	TABLE OF CONTENTS
	 	 	 	 	Page
	 	 	 	 	 
	ARTICLE I
	 	 	 	 	 
	DEFINITIONS
	 	 	 	 	 
	Section 1.01	 	Defined Terms	 	5
	Section 1.02	 	Certain Calculations	 	100
	 	 	 	 	 
	ARTICLE II
	 	 	 	 	 
	CONVEYANCE OF MORTGAGE LOANS;
	ORIGINAL ISSUANCE OF CERTIFICATES
	 	 	 	 	 
	Section 2.01	 	Conveyance of Mortgage Loans	 	102
	Section 2.02	 	Acceptance by Trustee	 	107
	Section 2.03	 	Representations,
    Warranties and Covenants of the Depositor; Mortgage Loan Sellers’ Repurchase or Substitution of Mortgage Loans for Defects
    in Mortgage Files and Breaches of Representations and Warranties	 	112
	Section 2.04	 	Execution
    of Certificates; Issuance of Uncertificated Lower-Tier Interests	 	119
	Section 2.05	 	Creation
    of the Grantor Trust	 	119
	 	 	 	 	 
	ARTICLE III
	 	 	 	 	 
	ADMINISTRATION AND
	SERVICING OF THE TRUST FUND
	 	 	 	 	 
	Section 3.01	 	Master
    Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans, the
    Serviced Companion Loans and REO Properties	 	120
	Section 3.02	 	Collection of Mortgage Loan Payments	 	127
	Section 3.03	 	Collection of Taxes, Assessments and
    Similar Items; Servicing Accounts	 	130
	Section 3.04	 	The
    Certificate Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Companion Distribution
    Account, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the Class EC Distribution Account	 	134
	Section 3.05	 	Permitted
    Withdrawals from the Certificate Account, the Distribution Accounts and the Companion Distribution Account	 	139
	Section 3.06	 	Investment of Funds in the Certificate
    Account and the REO Account	 	149
	Section 3.07	 	Maintenance
    of Insurance Policies; Errors and Omissions and Fidelity Coverage	 	151
	Section 3.08	 	Enforcement of Due-on-Sale Clauses;
    Assumption Agreements	 	156

 

    	-i-

    	 

    

 

	 	 	 	 	 
	Section 3.09	 	Realization Upon Defaulted Mortgage
    Loans and Companion Loans	 	161
	Section 3.10	 	Trustee
    and Certificate Administrator to Cooperate; Release of Mortgage Files	 	165
	Section 3.11	 	Servicing Compensation	 	166
	Section 3.12	 	Inspections; Collection of Financial
    Statements	 	172
	Section 3.13	 	[Reserved.]	 	176
	Section 3.14	 	[Reserved.]	 	176
	Section 3.15	 	Access to Certain Information	 	176
	Section 3.16	 	Title to REO Property; REO Account	 	186
	Section 3.17	 	Management of REO Property	 	187
	Section 3.18	 	Sale of Defaulted Mortgage Loans and
    REO Properties	 	190
	Section 3.19	 	Additional Obligations of Master Servicer
    and Special Servicer	 	196
	Section 3.20	 	Modifications, Waivers, Amendments
    and Consents	 	198
	Section 3.21	 	Transfer
    of Servicing Between Master Servicer and Special Servicer; Recordkeeping; Asset Status Report	 	206
	Section 3.22	 	Sub-Servicing Agreements	 	211
	Section 3.23	 	Representations, Warranties and Covenants
    of the Master Servicer	 	215
	Section 3.24	 	Representations, Warranties and Covenants
    of the Special Servicer	 	216
	Section 3.25	 	Interest Reserve Account	 	218
	Section 3.26	 	[Reserved.]	 	218
	Section 3.27	 	Directing
    Certificateholder and Senior Trust Advisor Contact with Master Servicer and Special Servicer	 	218
	Section 3.28	 	Controlling
    Class Certificateholders and Directing Certificateholder; Certain Rights and Powers of Directing Certificateholder	 	218
	Section 3.29	 	Intercreditor Agreements	 	222
	Section 3.30	 	Rating Agency Confirmation	 	225
	Section 3.31	 	The Senior Trust Advisor	 	227
	Section 3.32	 	Companion Paying Agent	 	233
	Section 3.33	 	Companion Register	 	234
	Section 3.34	 	Certain Matters Relating to the Non-Serviced
    Mortgage Loans	 	234
	 	 	 	 	 
	ARTICLE IV
	 	 	 	 	 
	DISTRIBUTIONS TO CERTIFICATEHOLDERS
	 	 	 	 	 
	Section 4.01	 	Distributions	 	235
	Section 4.02	 	Statements
    to Certificateholders; CREFC® Investor Reporting Packages; Grant of Power of Attorney	 	246
	Section 4.03	 	P&I Advances	 	251
	Section 4.04	 	Allocation of Collateral Support Deficit	 	254
	Section 4.05	 	Appraisal Reductions	 	255
	Section 4.06	 	Certificate Deferred Interest	 	258
	Section 4.07	 	Grantor Trust Reporting	 	259
	Section 4.08	 	Investor
    Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document Request Tool	 	261

 

    	-ii-

    	 

    

 

	 	 	 	 	 
	ARTICLE V
	 	 	 	 	 
	THE CERTIFICATES
	 	 	 	 	 
	Section 5.01	 	The Certificates	 	264
	Section 5.02	 	Form and Registration	 	264
	Section 5.03	 	Registration of Transfer and Exchange
    of Certificates	 	267
	Section 5.04	 	Mutilated, Destroyed, Lost or Stolen
    Certificates	 	274
	Section 5.05	 	Persons Deemed Owners	 	274
	Section 5.06	 	Access
    to List of Certificateholders’ Names and Addresses; Special Notices	 	275
	Section 5.07	 	Maintenance of Office or Agency	 	275
	Section 5.08	 	Appointment of Certificate Administrator	 	275
	Section 5.09	 	Exchangeable Certificates and the Class
    EC Certificates	 	276
	 	 	 	 	 
	ARTICLE VI
	 	 	 	 	 
	THE DEPOSITOR, THE MASTER
    SERVICER, THE SPECIAL SERVICER, THE SENIOR
	 	 	TRUST ADVISOR AND THE DIRECTING CERTIFICATEHOLDER	 	 
	 	 	 	 	 
	Section 6.01	 	Liability
    of the Depositor, the Master Servicer, the Senior Trust Advisor and the Special Servicer	 	278
	Section 6.02	 	Merger,
    Consolidation or Conversion of the Depositor, the Master Servicer, the Senior Trust Advisor or the Special Servicer	 	278
	Section 6.03	 	Limitation
    on Liability of the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor and Others	 	279
	Section 6.04	 	Depositor,
    Master Servicer and Special Servicer Not to Resign	 	284
	Section 6.05	 	Rights
    of the Depositor in Respect of the Master Servicer and the Special Servicer	 	285
	Section 6.06	 	The Master Servicer and the Special
    Servicer as Certificate Owner	 	285
	Section 6.07	 	The Directing Certificateholder	 	285
	 	 	 	 	 
	ARTICLE VII
	 	 	 	 	 
	SERVICER TERMINATION EVENTS
	 	 	 	 	 
	Section 7.01	 	Servicer
    Termination Events; Master Servicer and Special Servicer Termination	 	290
	Section 7.02	 	Trustee to Act; Appointment of Successor	 	297
	Section 7.03	 	Notification to Certificateholders	 	299
	Section 7.04	 	Waiver of Servicer Termination Events	 	299
	Section 7.05	 	Trustee as Maker of Advances	 	300

 

    	-iii-

    	 

    

	 	 	 	 	 
	ARTICLE VIII
	 	 	 	 	 
	CONCERNING THE TRUSTEE AND
    THE CERTIFICATE ADMINISTRATOR
	 	 	 	 	 
	Section 8.01	 	Duties of the Trustee and the Certificate
    Administrator	 	300
	Section 8.02	 	Certain Matters Affecting the Trustee
    and the Certificate Administrator	 	302
	Section 8.03	 	Trustee
    and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans	 	303
	Section 8.04	 	Trustee or Certificate Administrator
    May Own Certificates	 	304
	Section 8.05	 	Fees
    and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and Certificate Administrator	 	304
	Section 8.06	 	Eligibility Requirements for Trustee
    and Certificate Administrator	 	305
	Section 8.07	 	Resignation and Removal of the Trustee
    and Certificate Administrator	 	306
	Section 8.08	 	Successor Trustee or Certificate Administrator	 	309
	Section 8.09	 	Merger or Consolidation of Trustee
    or Certificate Administrator	 	309
	Section 8.10	 	Appointment of Co-Trustee or Separate
    Trustee	 	309
	Section 8.11	 	Appointment of Custodians	 	311
	Section 8.12	 	Representations and Warranties of the
    Trustee	 	311
	Section 8.13	 	Provision
    of Information to Certificate Administrator, Master Servicer and Special Servicer	 	312
	Section 8.14	 	Representations and Warranties of the
    Certificate Administrator	 	312
	Section 8.15	 	Compliance with the Patriot Act	 	314
	 	 	 	 	 
	ARTICLE IX
	 	 	 	 	 
	TERMINATION
	 	 	 	 	 
	Section 9.01	 	Termination upon Repurchase or Liquidation
    of All Mortgage Loans	 	314
	Section 9.02	 	Additional Termination Requirements	 	318
	 	 	 	 	 
	ARTICLE X
	 	 	 	 	 
	ADDITIONAL REMIC PROVISIONS
	 	 	 	 	 
	Section 10.01	 	REMIC Administration	 	318
	Section 10.02	 	Use of Agents	 	322
	Section 10.03	 	Depositor,
    Master Servicer and Special Servicer to Cooperate with Certificate Administrator	 	322
	Section 10.04	 	Appointment of REMIC Administrators	 	322
	 	 	 	 	 
	ARTICLE XI
	 	 	 	 	 
	EXCHANGE ACT REPORTING AND
    REGULATION AB COMPLIANCE
	 	 	 	 	 
	Section 11.01	 	Intent of the Parties; Reasonableness	 	323
	Section 11.02	 	Succession; Subcontractors	 	324

 

    	-iv-

    	 

    

	 	 	 	 	 
	Section 11.03	 	Filing Obligations	 	326
	Section 11.04	 	Form 10-D Filings	 	327
	Section 11.05	 	Form 10-K Filings	 	330
	Section 11.06	 	Sarbanes-Oxley Certification	 	333
	Section 11.07	 	Form 8-K Filings	 	334
	Section 11.08	 	Form 15 Filing	 	336
	Section 11.09	 	Annual Compliance Statements	 	336
	Section 11.10	 	Annual Reports on Assessment of Compliance with Servicing Criteria	 	338
	Section 11.11	 	Annual Independent Public Accountants’ Attestation Report	 	340
	Section 11.12	 	Indemnification	 	341
	Section 11.13	 	Amendments	 	343
	Section 11.14	 	Regulation AB Notices	 	344
	Section 11.15	 	Certain Matters
    Relating to the Future Securitization of the Serviced Pari Passu Companion Loans		344

        
	Section 11.16	 	Certain Matters Regarding Significant Obligors	 	349
	Section 11.17	 	Impact of Cure Period	 	349
	 	 	 	 	 
	ARTICLE
    XII	 	 
	 	 	 	 	 
	MISCELLANEOUS
    PROVISIONS	 	 
	 	 	 	 	 
	Section 12.01	 	Amendment	 	350
	Section 12.02	 	Recordation of Agreement; Counterparts	 	354
	Section 12.03	 	Limitation on Rights of Certificateholders	 	354
	Section 12.04	 	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	 	355
	Section 12.05	 	Notices	 	356
	Section 12.06	 	Severability of Provisions	 	362
	Section 12.07	 	Grant of a Security Interest	 	362
	Section 12.08	 	Successors and Assigns; Third Party Beneficiaries	 	362
	Section 12.09	 	Article and Section Headings	 	363
	Section 12.10	 	Notices to the Rating Agencies	 	363

 

    	-v-

    	 

    

  

	 	 	 
	EXHIBITS
	 	 	 
	Exhibit A-1	 	Form of Class A-1 Certificate
	Exhibit A-2	 	Form of Class A-2 Certificate
	Exhibit A-3	 	Form of Class A-3A1 Certificate
	Exhibit A-4	 	Form of Class A-3A2 Certificate
	Exhibit A-5	 	Form of Class A-4 Certificate
	Exhibit A-6	 	Form of Class A-SB Certificate
	Exhibit A-7	 	Form of Class X-A Certificate
	Exhibit A-8	 	Form of Class X-B Certificate
	Exhibit A-9	 	Form of Class X-C Certificate
	Exhibit A-10	 	Form of Class X-D Certificate
	Exhibit A-11	 	Form of Class X-E Certificate
	Exhibit A-12	 	Form of Class X-F Certificate
	Exhibit A-13	 	Form of Class X-NR Certificate
	Exhibit A-14	 	Form of Class A-S Certificate
	Exhibit A-15	 	Form of Class B Certificate
	Exhibit A-16	 	Form of Class C Certificate
	Exhibit A-17	 	Form of Class EC Certificate
	Exhibit A-18	 	Form of Class D Certificate
	Exhibit A-19	 	Form of Class E Certificate
	Exhibit A-20	 	Form of Class F Certificate
	Exhibit A-21	 	Form of Class NR Certificate
	Exhibit A-22	 	Form of Class R Certificate
	Exhibit B	 	Mortgage Loan Schedule
	Exhibit C	 	Form of Investment Representation Letter
	Exhibit D-1	 	Form of Transferee Affidavit
	Exhibit D-2	 	Form of Transferor Letter
	Exhibit E	 	Form of Request for Release
	Exhibit F-1	 	Form of ERISA Representation Letter regarding ERISA Restricted
    Certificates
	Exhibit F-2	 	Form of ERISA Representation Letter regarding Class R Certificates
    Certificates
	Exhibit G	 	Form of Statement to Certificateholders
	Exhibit H	 	Form of Omnibus Assignment
	Exhibit I	 	Form of Transfer Certificate for Rule 144A Book-Entry Certificate
    to Temporary Regulation S Book-Entry Certificate during Restricted Period
	Exhibit J	 	Form of Transfer Certificate for Rule 144A Book-Entry Certificate
    to Regulation S Book-Entry Certificate after Restricted Period
	Exhibit K	 	Form of Transfer Certificate for Temporary Regulation S Book-Entry
    Certificate to Rule 144A Book-Entry Certificate during Restricted Period
	Exhibit L	 	Form of Transfer Certificate for Temporary Regulation S Book-Entry
    Certificate to Regulation S Book-Entry Certificate after Restricted Period
	Exhibit M	 	Form of Transfer Certificate for Non-Book Entry Certificate to
    Temporary Regulation S Book-Entry Certificate

 

    	-vi-

    	 

    

  

	 	 	 
	Exhibit N	 	Form of Transfer Certificate for Non-Book Entry Certificate to
    Regulation S Book-Entry Certificate
	Exhibit O	 	Form of Transfer Certificate for Non-Book Entry Certificate to
    Rule 144A Book-Entry Certificate
	Exhibit P-1	 	Form of Investor Certification
	Exhibit P-2	 	Form of Certification for NRSROs
	Exhibit P-3	 	Online Market Data Provider Certification
	Exhibit Q	 	Custodian Certification/Exception Report
	Exhibit R-1	 	Form of Power of Attorney – Master Servicer
	Exhibit R-2	 	Form of Power of Attorney – Special Servicer
	Exhibit S	 	Initial Companion Holders
	Exhibit T	 	Form of Notice Relating to the Non-Serviced Mortgage Loans
	Exhibit U	 	Form of Notice and Certification Regarding Defeasance of Mortgage
    Loan
	Exhibit V	 	Form of Senior Trust Advisor Annual Report
	Exhibit W	 	Form of Notice from Senior Trust Advisor Recommending Replacement
    of Special Servicer
	Exhibit X	 	Form of Confidentiality Agreement
	Exhibit Y	 	Form Certification to be Provided with Form 10-K
	Exhibit Z-1	 	Form of Certification to be Provided to Depositor by Certificate
    Administrator
	Exhibit Z-2	 	Form of Certification to be Provided to Depositor by Master Servicer
	Exhibit Z-3	 	Form of Certification to be Provided to Depositor by Special Servicer
	Exhibit Z-4	 	Form of Certification to be Provided to Depositor by Trustee
	Exhibit Z-5	 	Form of Certification to be Provided to Depositor by Senior Trust
    Advisor
	Exhibit Z-6	 	Form of Certification to be Provided to Depositor by Custodian
	Exhibit AA	 	Servicing Criteria to be Addressed in Assessment of Compliance
	Exhibit BB	 	Additional Form 10-D Disclosure
	Exhibit CC	 	Additional Form 10-K Disclosure
	Exhibit DD	 	Form 8-K Disclosure Information
	Exhibit EE	 	Additional Disclosure Notification
	Exhibit FF	 	Initial Sub-Servicers
	Exhibit GG	 	Servicing Function Participants
	Exhibit HH	 	Form of Annual Compliance Statement
	Exhibit II	 	Form of Report on Assessment of Compliance with Servicing Criteria
	Exhibit JJ	 	CREFC® Payment Information
	Exhibit KK	 	Form of Notice of Additional Indebtedness Notification
	Exhibit LL	 	Form of Notice of Exchangeable Certificates for the Class EC Certificates
	Exhibit MM	 	Additional Disclosure Notification (Accounts)
	Exhibit NN	 	Form of Notice of Purchase of Controlling Class Certificate
	Exhibit OO	 	[Reserved]

  

    	-vii-

    	 

    

  

	 	 	 
	SCHEDULES
	 	 	 
	Schedule 1	 	Mortgage Loans With Additional Debt
	Schedule 2	 	Class A-SB Planned Principal Balance Schedule
	Schedule 3	 	Mortgage Loans with “Performance”, “Earn-out”
    or “Holdback” Escrows or Reserves

   

    	-viii-

    	 

    

 

 

This
Pooling and Servicing Agreement is dated and effective as of June 1, 2015, among J.P. Morgan Chase Commercial Mortgage Securities
Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank,
National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust,
National Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor.

 

PRELIMINARY
STATEMENT:

 

The
Depositor intends to sell commercial mortgage pass-through certificates (collectively, the “Certificates”),
to be issued hereunder in multiple classes (each, a “Class”), which in the aggregate will evidence the entire
beneficial ownership interest in the trust fund (the “Trust Fund”) to be created hereunder, the primary assets
of which will be a pool of commercial mortgage loans. As provided herein, the Certificate Administrator shall elect or shall cause
an election to be made to treat designated portions of the Trust Fund (exclusive of any Exchangeable Certificates that have been
exchanged for the Class EC Certificates and the proceeds thereof in the Class EC Distribution Account) for federal income
tax purposes as two separate real estate mortgage investment conduits (the “Upper-Tier REMIC” and the “Lower-Tier
REMIC”, and each a “Trust REMIC” as described herein).

 

In
addition, the parties intend that the portions of the Trust Fund consisting of any Exchangeable Certificates that have been exchanged
for the Class EC Certificates and the Class EC Distribution Account and the proceeds thereof, shall be treated as a
grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes (the “Grantor
Trust”). Solely for tax purposes, the Class EC Certificates shall represent undivided beneficial interests in the
portion of the Grantor Trust consisting of the exchanged Exchangeable Certificates and the Class EC Distribution Account.
The Class EC Certificates do not represent an interest in an entity other than the Trust and, for the avoidance of doubt,
the Grantor Trust is not a separate legal entity. As provided herein, the Certificate Administrator shall take all actions expressly
required hereunder to ensure that the portion of the Trust Fund consisting of the Grantor Trust maintains its status as a grantor
trust under federal income tax law and not be treated as part of the Trust REMICs.

 

The
Depositor intends to sell the Certificates (other than the Direct Sale Certificates) to the Underwriters and the Initial Purchasers
and the Depositor intends to sell the Direct Sale Certificates to JPMCB, in an offering exempt from the registration requirements
of the federal securities laws.

 

LOWER-TIER
REMIC

 

The
Lower-Tier REMIC will hold the Mortgage Loans and will issue the Class LA1, Class LA2, Class LA3A1, Class LA3A2,
Class LA4, Class LASB, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR
Uncertificated Interests (the “Uncertificated Lower-Tier Interests”), which will evidence the “regular
interests” in the Lower-Tier REMIC created hereunder. The Lower-Tier REMIC will also issue the

 

    	 

    	 

    

 

uncertificated
Class LR Interest, which is the sole Class of “residual interest” in the Lower-Tier REMIC and is represented
by the Class R Certificates.

 

The
following table sets forth the Original Lower-Tier Principal Amounts and per annum rates of interest for the Uncertificated
Lower-Tier Interests and the Class LR Interest:

 

	
        Class
        Designation
	
        Interest
        Rate or Pass-Through Rate
	
        Original
        Lower-Tier

        Principal Amount

	Class LA1	(1)	$48,951,000
	Class LA2	(1)	  $212,993,000
	Class LA3A1	(1)	$60,000,000
	Class LA3A2	(1)	$75,000,000
	Class LA4	(1)	  $223,062,000
	Class LASB	(1)	$69,138,000
	Class LAS	(1)	$63,992,000
	Class LB	(1)	$54,147,000
	Class LC	(1)	$44,302,000
	Class LD	(1)	$52,916,000
	Class LE	(1)	$20,920,000
	Class LF	(1)	$11,076,000
	Class LNR	(1)	$47,993,856
	Class LR	None (2)	None

  

 

		(1)	The
                                         interest rate for such Class of Uncertificated Lower-Tier Interests on any Distribution
                                         Date will be the Weighted Average Net Mortgage Rate for such Distribution Date.

 

		(2)	The
                                         Class LR Interest (evidenced by the Class R Certificates) will not have a Certificate
                                         Balance or Notional Amount, will not bear interest and will not be entitled to distributions
                                         of Yield Maintenance Charges. Any Available Distribution Amount remaining in the Lower-Tier
                                         REMIC Distribution Account after distributing the Lower-Tier Distribution Amount will
                                         be deemed distributed to the Class LR Interest and shall be payable to the Holders
                                         of the Class R Certificates.

 

UPPER-TIER
REMIC

 

The Upper-Tier REMIC
will hold the Uncertificated Lower-Tier Interests and will issue the Class A-1, Class A-2, Class A-3A1, Class A-3A2,
Class A-4, Class A-SB, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class X-NR, Class A-S,
Class B, Class C, Class D, Class E, Class F and Class NR Certificates which will evidence the “regular
interests” in the Upper-Tier REMIC created hereunder. The Upper-Tier REMIC also will issue the uncertificated Class UR Interest,
which is the sole Class of “residual interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is
represented by the Class R Certificates.

 

THE
CERTIFICATES

 

The
following table (and related paragraphs) sets forth the designation, the pass-through rate (the “Pass-Through Rate”)
and the aggregate initial principal amount (the “Original Certificate Balance”) or Notional Amount (the “Original
Notional Amount”), as applicable, for each Class of Certificates:

 

    	-2-

    	 

    

 

	 	 	 	 	 	 
	Class
    Designation	 	Initial
                                         Pass-Through

                                         Rate
	 	Original

                                         Certificate

                                         Balance or
 Notional
                                         Amount

	Class A-1 Certificates	 	1.6255%	 	 	$48,951,000
	Class A-2 Certificates	 	2.9213%	 	 	$212,993,000
	Class A-3A1 Certificates	 	3.3423%	 	 	$60,000,000
	Class A-3A2 Certificates	 	3.3423%	 	 	$75,000,000
	Class A-4 Certificates	 	3.6108%	 	 	$223,062,000
	Class A-SB Certificates	 	3.3044%	 	 	$69,138,000
	Class
    X-A Certificates	 	0.9657560%
    (1)(2)	 	 	$753,136,000
	Class
    X-B Certificates	 	0.0842490%
    (1)(2)	 	 	$54,147,000
	Class
    X-C Certificates	 	0.0000%
    (1)(2)	 	 	$44,302,000
	Class
    X-D Certificates	 	0.5000000%
    (1)(2)	 	 	$52,916,000
	Class
    X-E Certificates	 	0.3022490%
    (1)(2)	 	 	$20,920,000
	Class
    X-F Certificates	 	0.3022490%
    (1)(2)	 	 	$11,076,000
	Class
    X-NR Certificates	 	0.3022490%
    (1)(2)	 	 	$47,993,856
	Class
    A-S Certificates	 	3.9166%	 	 	$63,992,000
	Class
    B Certificates	 	4.1180%	 	 	$54,147,000
	Class
    C Certificates	 	4.2022%	 	 	$44,302,000
	Class
    D Certificates	 	3.7022%	 	 	$52,916,000
	Class
    E Certificates	 	3.9000%	 	 	$20,920,000
	Class
    F Certificates	 	3.9000%	 	 	$11,076,000
	Class
    NR Certificates	 	3.9000%	 	 	$47,993,856
	Class R
    Certificates	 	None(4)	 	 	N/A  

 

		(1)	The
                                         Pass-Through Rate for the Class X-A Certificates will be calculated in accordance with
                                         the definition of “Class X-A Pass-Through Rate”, the Pass-Through Rate for
                                         the Class X-B Certificates will be calculated in accordance with the definition of “Class
                                         X-B Pass-Through Rate”, the Pass-Through Rate for the Class X-C Certificates will
                                         be calculated in accordance with the definition of “Class X-C Pass-Through Rate”,
                                         the Pass-Through Rate for the Class X-D Certificates will be calculated in accordance
                                         with the definition of “Class X-D Pass-Through Rate”, the Pass-Through Rate
                                         for the Class X-E Certificates will be calculated in accordance with the definition of
                                         “Class X-E Pass-Through Rate”, the Pass-Through Rate for the Class X-F Certificates
                                         will be calculated in accordance with the definition of “Class X-F Pass-Through
                                         Rate”, and the Pass-Through Rate for the Class X-NR Certificates will be calculated
                                         in accordance with the definition of “Class X-NR Pass-Through Rate”.

 

		(2)	None
                                         of the Class X-A Certificates, the Class X-B Certificates, the Class X-C Certificates,
                                         the Class X-D Certificates, the Class X-E Certificates, the Class X-F Certificates or
                                         the Class X-NR Certificates will have a Certificate Balance; rather, such Classes of
                                         Certificates will accrue interest as provided herein on the Class X-A Notional Amount,
                                         the Class X-B Notional Amount, the Class X-C Notional Amount, the Class X-D Notional
                                         Amount, the Class X-E Notional Amount, the Class X-F Notional Amount or the Class X-NR
                                         Notional Amount, as applicable.

 

		(3)	The
                                         Class X-C Certificates will not be entitled to receive distributions of principal other
                                         than a payment of $100 on the first Distribution Date which will be deemed a payment
                                         of principal on the principal balance of the REMIC regular interest represented by the
                                         Class X-C Certificates for federal income tax purposes.

 

		(4)	The
                                         Class R Certificates will not have a Certificate Balance or a Notional Amount, bear
                                         interest or be entitled to distributions of Yield Maintenance Charges. Any Available
                                         Distribution Amount remaining in the Upper-Tier REMIC Distribution Account, after all
                                         required distributions under this Agreement have been made to each Class of Regular Certificates
                                         will be deemed distributed to the Class UR Interest and shall be payable to the Holders
                                         of the Class R Certificates.

 

    	-3-

    	 

    

 

As of the close of
business on the Cut-off Date, the Mortgage Loans had an aggregate principal balance, after application of all payments of principal
due on or before such date, whether or not received, equal to $984,490,857.

 

The
initial Certificate Balance of a Class of Exchangeable Certificates represents the principal balance of such Class without giving
effect to any exchange and conversion for Class EC Certificates. The initial Certificate Balance of the Class EC Certificates
is equal to the aggregate of the initial Certificate Balances of the Exchangeable Certificates and represents the maximum principal
balance of the Class EC Certificates that could be issued in an exchange and conversion. The Class EC Certificates will
not have a Pass-Through Rate but will receive distributions of principal and interest that would otherwise be distributable to
the Exchangeable Certificates that were converted in an exchange for such Class EC Certificates. For the initial Distribution
Date, the effective Pass-Through Rate of the Class EC Certificates is 4.0616%.

 

The
One City Centre Pari Passu Companion Loan, JAGR Portfolio Pari Passu Companion Loan, Horizon Outlet Shoppes Portfolio Pari Passu
Companion Loan, Marriott-Pittsburgh Pari Passu Companion Loan and any AB Subordinate Companion Loan (each a “Companion
Loan” and collectively, the “Companion Loans”) are not part of the Trust Fund, but are each secured
by the applicable Mortgage that secures the related Mortgage Loan that is part of the Trust Fund. As and to the extent provided
herein, any Companion Loan (other than any Non-Serviced Companion Loan) will be serviced and administered in accordance with this
Agreement. Amounts attributable to any Companion Loan will not be assets of the Trust Fund, and (except to the extent that such
amounts are payable or reimbursable to any party to this Agreement) will be owned by the related Companion Holders.

 

The
One City Centre Whole Loan consists of the One City Centre Mortgage Loan and the One City Centre Pari Passu Companion Loan. The
One City Centre Mortgage Loan and the One City Centre Pari Passu Companion Loan are pari passu with each other. The One
City Centre Mortgage Loan is part of the Trust Fund. The One City Centre Pari Passu Companion Loan is not part of the Trust Fund.
The One City Centre Mortgage Loan and the One City Centre Pari Passu Companion Loan will be serviced and administered in accordance
with this Agreement and the One City Centre Intercreditor Agreement.

 

The
JAGR Portfolio Whole Loan consists of the JAGR Portfolio Mortgage Loan and the JAGR Portfolio Pari Passu Companion Loan. The JAGR
Portfolio Mortgage Loan and the JAGR Portfolio Pari Passu Companion Loan are pari passu with each other. The JAGR Portfolio
Mortgage Loan is part of the Trust Fund. The JAGR Portfolio Pari Passu Companion Loan is not part of the Trust Fund. The JAGR
Portfolio Mortgage Loan and the JAGR Portfolio Pari Passu Companion Loan will be serviced and administered in accordance with
this Agreement and the JAGR Portfolio Intercreditor Agreement.

 

The
Horizon Outlet Shoppes Portfolio Whole Loan consists of the Horizon Outlet Shoppes Portfolio Mortgage Loan and the Horizon Outlet
Shoppes Portfolio Pari Passu Companion Loan. The Horizon Outlet Shoppes Portfolio Mortgage Loan and the Horizon Outlet Shoppes
Portfolio Pari Passu Companion Loan are pari passu with each other. The Horizon Outlet Shoppes Portfolio Mortgage Loan
is part of the Trust Fund. The Horizon Outlet Shoppes Portfolio Pari Passu Companion Loan is not part of the Trust Fund. The Horizon
Outlet Shoppes

 

    	-4-

    	 

    

 

Portfolio
Mortgage Loan and the Horizon Outlet Shoppes Portfolio Pari Passu Companion Loan will be serviced and administered in accordance
with the JPMBB Commercial Mortgage Securities Trust 2015-C28 Pooling and Servicing Agreement and the Horizon Outlet Shoppes Portfolio
Intercreditor Agreement.

 

The
Marriott-Pittsburgh Whole Loan consists of the Marriott-Pittsburgh Mortgage Loan and the Marriott-Pittsburgh Pari Passu Companion
Loan. The Marriott-Pittsburgh Mortgage Loan and the Marriott-Pittsburgh Pari Passu Companion Loan are pari passu with each
other. The Marriott-Pittsburgh Mortgage Loan is part of the Trust Fund. The Marriott-Pittsburgh Pari Passu Companion Loan is not
part of the Trust Fund. The Marriott-Pittsburgh Mortgage Loan and the Marriott-Pittsburgh Pari Passu Companion Loan will be serviced
and administered in accordance with this Agreement and the Marriott-Pittsburgh Intercreditor Agreement.

 

In
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

Article I

DEFINITIONS

 

Section 1.01        
Defined Terms. Whenever used in this Agreement, including in the Preliminary Statement, the following capitalized terms,
unless the context otherwise requires, shall have the meanings specified in this Article.

 

“10-K
Filing Deadline”: As defined in Section 11.05(a).

 

“15Ga-1
Notice”: As defined in Section 2.02(g).

 

“17g-5
Information Provider”: The Certificate Administrator.

 

“17g-5
Information Provider’s Website”: The 17g-5 Information Provider’s Internet website, which shall initially
be located within the Certificate Administrator’s Website (www.ctslink.com), under the “NRSRO” tab on the page
relating to this transaction.

 

“30/360
Mortgage Loans”: The Mortgage Loans indicated as such in the Mortgage Loan Schedule.

 

“AB
Control Appraisal Period”: The “Control Appraisal Period” or similarly defined term as defined in the related
AB Intercreditor Agreement.

 

“AB
Intercreditor Agreement”: Any Intercreditor Agreement by and among the holder of an AB Subordinate Companion Loan and
the holder of the related Mortgage Loan, relating to the relative rights of such holders of the related AB Whole Loan, as the
same may be further amended in accordance with the terms thereof. For avoidance of doubt, there is no AB Intercreditor Agreement
related to the Trust.

 

    	-5-

    	 

    

 

“AB
Mortgage Loan”: A senior “A note” included in the Trust that is part of an AB Whole Loan and which is a
Mortgage Loan that is part of the Trust. For avoidance of doubt, there is no AB Mortgage Loan in the Trust Fund.

 

“AB
Mortgaged Property”: The Mortgaged Property which secures the related AB Whole Loan. For avoidance of doubt, there is
no AB Mortgaged Property related to the Trust.

 

“AB
Subordinate Companion Loan”: With respect to any AB Whole Loan, the related companion loan evidenced by the related
promissory note made by the related Mortgagor and secured by the Mortgage on the related AB Mortgaged Property, which is not included
in the Trust and which is subordinate in right of payment to the related AB Mortgage Loan to the extent set forth in the related
Mortgage Loan documents and as provided in the related Intercreditor Agreement. For avoidance of doubt, there is no AB Subordinate
Companion Loan related to the Trust.

 

“AB
Whole Loan”: A Whole Loan, which consists of such Mortgage Loan, Pari Passu Companion Loans (if any) and the related
AB Subordinate Companion Loan(s). For avoidance of doubt, there is no AB Whole Loan related to the Trust.

 

“AB
Whole Loan Controlling Holder”: The “Controlling Holder” or similarly defined party identified in the related
AB Intercreditor Agreement. For the avoidance of doubt, there is no AB Whole Loan Controlling Holder related to the Trust.

 

“Acceptable
Insurance Default”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or any Serviced Whole
Loan, a default under the related Mortgage Loan documents arising by reason of (i) any failure on the part of the related
Mortgagor to maintain with respect to the related Mortgaged Property specific insurance coverage with respect to, or an all-risk
casualty insurance policy that does not specifically exclude, terrorist or similar acts, and/or (ii) any failure on the part
of the related Mortgagor to maintain with respect to the related Mortgaged Property insurance coverage with respect to damages
or casualties caused by terrorist or similar acts upon terms not materially less favorable than those in place as of the Closing
Date, in each case as to which default the Master Servicer and the Special Servicer may forbear taking any enforcement action,
provided that the Special Servicer has determined, in its reasonable judgment, based on inquiry consistent with the Servicing
Standard and (unless a Control Event has occurred and is continuing, with the consent of the Directing Certificateholder (and
after a Control Event has occurred, but prior to the occurrence of a Consultation Termination Event, after consultation with the
Directing Certificateholder as provided in Section 6.07 hereof)) (or, with respect to any applicable Serviced AB Whole
Loan, and prior to any related AB Control Appraisal Period, with the consent of the related AB Whole Loan Controlling Holder to
the extent required under the related Intercreditor Agreement), that either (a) such insurance is not available at commercially
reasonable rates and that such hazards are not at the time commonly insured against for properties similar to the related Mortgaged
Property and located in or around the region in which such related Mortgaged Property is located, or (b) such insurance is
not available at any rate; provided, however, that the Directing Certificateholder (or, with respect to any applicable
Serviced AB Whole Loan, the related AB Whole Loan Controlling Holder prior to any AB

 

    	-6-

    	 

    

 

Control
Appraisal Period to the extent required under the related Intercreditor Agreement) will not have more than thirty (30) days to
respond to the Special Servicer’s request for such consent or consultation; provided, further, that upon the
Special Servicer’s determination, consistent with the Servicing Standard, that exigent circumstances do not allow the Special
Servicer to consult with the Directing Certificateholder or any applicable AB Whole Loan Controlling Holder, as applicable, the
Special Servicer is not required to do so. Each of the Master Servicer (at its own expense) and the Special Servicer (at the expense
of the Trust Fund) shall be entitled to rely on insurance consultants in making the determinations described above.

 

“Accrued
Certificate Interest”: With respect to each Distribution Date and each Class of Regular Certificates, an amount equal
to interest for the related Interest Accrual Period at the Pass-Through Rate of such Class of Certificates for such Distribution
Date, accrued on the related Certificate Balance (or with respect to the Class X Certificates, the related Notional Amount
of such Class) outstanding immediately prior to such Distribution Date (provided that for interest accrual purposes any
distributions in reduction of Certificate Balance or Notional Amount or reductions in Certificate Balance or Notional Amount as
a result of allocations of Collateral Support Deficit on the Distribution Date occurring in an Interest Accrual Period shall be
deemed to have been made on the first day of such Interest Accrual Period). Accrued Certificate Interest shall be calculated on
the basis of a 360-day year consisting of twelve 30-day months. With respect to each Class of Exchangeable Certificates and the
Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this
Agreement as between the Exchangeable Certificates and the Class EC Certificates, all amounts of Accrued Certificate Interest
of each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange and conversion
of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Accrued
Certificate Interest that are allocable to Exchangeable Certificates that have been exchanged and converted for Class EC
Certificates shall be deemed allocable to such Class EC Certificates, without duplication.

 

“Accrued
Interest From Recoveries”: With respect to each Distribution Date and any Class of Principal Balance Certificates that
had an increase to its Certificate Balance as a result of the Trust Fund’s recovery of Nonrecoverable Advances that were
previously reimbursed to the Master Servicer or Trustee, as applicable, from general principal collections, is an amount equal
to interest at the Pass-Through Rate applicable to that Class for the applicable Interest Accrual Periods on the amount of such
increase to its Certificate Balance accrued from the Distribution Date on which the related Collateral Support Deficit was allocated
to such Class as a result of the reimbursement of Nonrecoverable Advances from the Trust (whether such Collateral Support Deficit
was allocated as a result of the initial allocation of such Collateral Support Deficit or as a result of further allocations of
Collateral Support Deficits unrelated to such initial allocations) to, but not including, the Distribution Date on which the Certificate
Balance was so increased. With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes
of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates
and the Class EC Certificates, all amounts of Accrued Interest From Recoveries of each Class of Exchangeable Certificates
for any Distribution Date shall be determined without regard to any exchange and conversion of such Exchangeable Certificates
for Class EC Certificates; provided, however, that all amounts of Accrued Interest From Recoveries that would
otherwise be allocable to

 

    	-7-

    	 

    

 

Exchangeable
Certificates that have been exchanged and converted for Class EC Certificates shall be deemed allocable to such Class EC
Certificates, without duplication.

 

“Act”:
The Securities Act of 1933, as it may be amended from time to time.

 

“Actual/360
Mortgage Loans”: The Mortgage Loans, to the extent indicated as such in the Mortgage Loan Schedule.

 

“Additional
Debt”: With respect to any Mortgage Loan, any debt owed by the related Mortgagor to a party other than the lender under
such Mortgage Loan that is secured by the related Mortgaged Property as of the Closing Date as set forth on Schedule 1 hereto,
as increased or decreased from time to time pursuant to the terms of the related subordinate or pari passu loan documents
(including any Intercreditor Agreement or subordination agreement).

 

“Additional
Disclosure Notification”: The form of notification to be included with any Additional Form 10-D Disclosure, Additional
Form 10-K Disclosure or Form 8-K Disclosure Information which is attached hereto as Exhibit EE.

 

“Additional
Exclusions”: Exclusions in addition to those customarily found in the insurance policies for mortgaged properties similar
to the Mortgaged Properties on or prior to September 11, 2001.

 

“Additional
Form 10-D Disclosure”: As defined in Section 11.04(a).

 

“Additional
Form 10-K Disclosure”: As defined in Section 11.05(a).

 

“Additional
Servicer”: Each Affiliate of the Master Servicer, the Special Servicer or any Mortgage Loan Seller that services any
of the Mortgage Loans and each Person who is not an Affiliate of the Master Servicer, other than the Special Servicer, who services
10% or more of the Mortgage Loans by unpaid principal balance as of any date of determination pursuant to Article XI.

 

“Administrative
Cost Rate”: As of any date of determination and with respect to each Mortgage Loan, a per annum rate equal to
the sum of the Servicing Fee Rate, the Certificate Administrator Fee Rate (which such fee rate accounts for the Trustee Fee),
the Senior Trust Advisor Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate, in each case computed
on the basis of the Stated Principal Balance of the related Mortgage Loan, and in the same manner as interest is calculated on
such Mortgage Loan.

 

“Advance”:
Any P&I Advance or Servicing Advance.

 

“Adverse
REMIC Event”: As defined in Section 10.01(f).

 

“Affected
Party”: As defined in Section 7.01(b).

 

“Affected
Reporting Party”: As defined in Section 11.12.

 

    	-8-

    	 

    

 

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

 

“Agreement”:
This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.

 

“Applicable
Laws”: As defined in Section 8.15.

 

“Applicable
State and Local Tax Law”: For purposes hereof, the Applicable State and Local Tax Law shall be (a) the tax laws
of the State of New York; and (b) such other state or local tax laws whose applicability shall have been brought to the attention
of the Trustee and the Certificate Administrator by either (i) an Opinion of Counsel delivered to it, or (ii) written
notice from the appropriate taxing authority as to the applicability of such state or local tax laws.

 

“Appraisal”:
An appraisal prepared by an Independent MAI appraiser with at least five (5) years’ experience in properties of like kind
and in the same area, prepared in accordance with 12 C.F.R. 225.64, or, in connection with an Appraisal Reduction, a valuation
meeting the requirements of clause (b)(i)(A)(2) in the definition of Appraisal Reduction.

 

“Appraisal
Reduced Interest”: With respect to any Mortgage Loan, accrued and unpaid interest at the related Mortgage Rate that
is not advanced by the Master Servicer or Trustee solely due to the reduction of the interest portion of the related P&I Advance
pursuant to Section 4.03(e) hereof.

 

“Appraisal
Reduction”: For any Distribution Date and for any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced
Companion Loan or Serviced Whole Loan as to which any Appraisal Reduction Event has occurred, will be an amount, calculated by
the Special Servicer (prior to the occurrence of a Consultation Termination Event in consultation with the Directing Certificateholder,
and, after the occurrence and during the continuance of a Control Event, in consultation with the Senior Trust Advisor), as of
the first Determination Date that is at least ten (10) Business Days following the date on which the Special Servicer receives
an Appraisal or conducts a valuation described below, equal to the excess of (a) the Stated Principal Balance of that Mortgage
Loan or the Stated Principal Balance of the applicable Serviced Whole Loan, as the case may be, over (b) the excess of (i) the
sum of (A) 90% of the Appraised Value of the related Mortgaged Property as determined (1) by one or more Appraisals
obtained by the Special Servicer with respect to any Mortgage Loan (together with any other Mortgage Loan cross-collateralized
with such Mortgage Loan) or Serviced Whole Loan, as the case may be, with an outstanding principal balance equal to or in excess
of $2,000,000 (the costs of which shall be paid by the Master Servicer as an Advance) or (2) by an internal valuation performed
by the Special Servicer with respect to any Mortgage Loan (together with any other Mortgage Loan cross-collateralized with such
Mortgage Loan) or Serviced Whole Loan, as the case may be, with an outstanding principal balance less than $2,000,000, minus,
with respect to any Appraisals, such downward adjustments as the Special Servicer may make (without

 

    	-9-

    	 

    

 

implying
any obligation to do so) based upon its review of the Appraisal and any other information it deems relevant and (B) all escrows,
letters of credit and reserves in respect of such Mortgage Loan or Serviced Whole Loan, as applicable, as of the date of calculation
over (ii) the sum of, as of the Due Date occurring in the month of the date of determination, (A) to the extent not
previously advanced by the Master Servicer or the Trustee, all unpaid interest due on such Mortgage Loan or Serviced Whole Loan,
as the case may be, at a per annum rate equal to its Mortgage Rate (and, with respect to any AB Whole Loan, any accrued
and unpaid interest on the AB Subordinate Companion Loan, as applicable), (B) all P&I Advances on the related Mortgage
Loan and all Servicing Advances on the related Mortgage Loan or Serviced Whole Loan, as applicable, not reimbursed from proceeds
of such Mortgage Loan or Serviced Whole Loan, as applicable, and interest thereon at the Reimbursement Rate in respect of such
Mortgage Loan or Serviced Whole Loan, as applicable, and (C) all currently due and unpaid real estate taxes, assessments,
insurance premiums, ground rents, unpaid Special Servicing Fees and all other amounts due and unpaid with respect to such Mortgage
Loan or Serviced Whole Loan, as the case may be (which taxes, premiums, ground rents and other amounts have not been the subject
of an Advance by the Master Servicer or the Trustee, as applicable); provided, however, without limiting the Special
Servicer’s obligation to order and obtain such Appraisal or perform such valuation, if the Special Servicer has not obtained
an Appraisal or performed such valuation, as applicable, referred to above within sixty (60) days of the Appraisal Reduction Event
(or with respect to the Appraisal Reduction Events set forth in clauses (i) and (vi) of the definition of Appraisal
Reduction Event, within one hundred-twenty (120) days (in the case of clause (i)) or ninety (90) days or one hundred-twenty
(120) days, as applicable (in case of clause (vi)) after the initial delinquency for the related Appraisal Reduction
Event), the amount of the Appraisal Reduction shall be deemed to be an amount equal to 25% of the current Stated Principal Balance
of the related Mortgage Loan or Serviced Whole Loan, as applicable, until such time as such appraisal or valuation referred to
above is received by the Special Servicer and the Appraisal Reduction is calculated as of the first Determination Date that is
at least ten (10) Business Days thereafter. Within sixty (60) days after the Appraisal Reduction Event, the Special Servicer shall
order and use reasonable efforts to receive an Appraisal (the cost of which shall be paid by the Master Servicer as a Servicing
Advance); provided, further, however, that with respect to an Appraisal Reduction Event as set forth in clause (i)
of the definition of Appraisal Reduction Event, the Special Servicer shall order and use reasonable efforts to receive such
Appraisal within the one hundred-twenty (120)-day period set forth in such clause (i), and with respect to an Appraisal
Reduction Event as set forth in clause (vi) of the definition of Appraisal Reduction Event, the Special Servicer shall
order and use reasonable efforts to receive such Appraisal within the ninety (90)-day period or one hundred-twenty (120)-day period,
as applicable, set forth in such clause (vi); provided, further, however, that in no event shall
the Special Servicer be required to order any such Appraisal prior to the conclusion of such sixty (60), ninety (90), or one hundred-twenty
(120)-day period, as applicable, and in each case, the related Appraisal shall be promptly delivered in electronic format by the
Special Servicer to the Master Servicer, the Directing Certificateholder (but only prior to the occurrence of a Consultation Termination
Event), the Certificate Administrator and the Trustee. In connection with any Appraisal Reduction,
the Master Servicer shall provide the Special Servicer with the information as set forth in Section 4.05(c). The Master
Servicer will not calculate Appraisal Reductions.

 

With
respect to any Appraisal Reduction calculated for purposes of determining the existence and identity of the Controlling Class
pursuant to Section 4.05(a) hereof, the

 

    	-10-

    	 

    

 

Appraised
Value for the related Mortgaged Property determined in connection with clause (b)(i)(A)(1) or clause (b)(i)(A)(2)
of the first paragraph of this definition shall be determined on an “as-is” basis.

 

Notwithstanding
anything herein to the contrary, the aggregate Appraisal Reduction related to a Mortgage Loan or the related REO Property will
be reduced to zero as of the date on which such Mortgage Loan is paid in full, liquidated, repurchased or otherwise removed from
the Trust Fund or as otherwise set forth in Section 4.05(d).

 

Any
Appraisal Reduction in respect of a Non-Serviced Whole Loan shall be calculated by the applicable party under and in accordance
with and pursuant to the terms of the applicable Non-Serviced Pooling Agreement.

 

“Appraisal
Reduction Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), any related Serviced
Companion Loan or Serviced Whole Loan, the earliest of (i) one hundred-twenty (120) days after an uncured delinquency (without
regard to the application of any grace period), other than any uncured delinquency in respect of a Balloon Payment, occurs in
respect of such Mortgage Loan or Companion Loan, as applicable, (ii) the date on which a reduction in the amount of Monthly
Payments on such Mortgage Loan or Companion Loan, as applicable, or a change in any other material economic term of such Mortgage
Loan or Companion Loan, as applicable, (other than an extension of the Maturity Date), becomes effective as a result of a modification
of such Mortgage Loan or Companion Loan, as applicable, by the Special Servicer, (iii) the date on which a receiver has been
appointed for the Mortgaged Property, (iv) the date on which a Mortgagor declares bankruptcy, (v) sixty (60) days after
the date on which an involuntary petition of bankruptcy is filed with respect to a Mortgagor if not dismissed within such time,
(vi) ninety (90) days after an uncured delinquency occurs in respect of a Balloon Payment with respect to such Mortgage Loan
or Companion Loan, as applicable, except where a refinancing is anticipated within one hundred-twenty (120) days after the Maturity
Date of the Mortgage Loan or Companion Loan, as applicable, in which case one hundred-twenty (120) days after such uncured delinquency,
and (vii) immediately after such Mortgage Loan or Companion Loan, as applicable, becomes an REO Loan; provided, however,
that an Appraisal Reduction Event shall not occur at any time when the aggregate Certificate Balances of all Classes of Certificates
(other than the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4 and Class A-SB Certificates) have
been reduced to zero. The Special Servicer shall notify the Master Servicer, the Directing Certificateholder and the Senior Trust
Advisor, or the Master Servicer shall notify the Special Servicer and the Senior Trust Advisor, as applicable, promptly upon such
Person having notice or knowledge of the occurrence of any of the foregoing events. The obligation to obtain an Appraisal following
the occurrence of an Appraisal Reduction Event shall be subject to the provisions of Section 4.05 hereof.

 

“Appraisal
Review Period”: As defined in Section 4.05(b)(ii).

 

“Appraised-Out
Class”: As defined in Section 4.05(b)(i).

 

“Appraised
Value”: With respect to any Mortgaged Property (other than a Non-Serviced Mortgaged Property), the appraised value thereof
as determined by an Appraisal of the Mortgaged Property securing the related Mortgage Loan or Serviced Whole Loan, as

 

    	-11-

    	 

    

 

applicable,
and with respect to a Non-Serviced Mortgaged Property, the appraised value allocable thereto, as determined pursuant to the applicable
Non-Serviced Pooling Agreement.

 

“Asset
Status Report”: As defined in Section 3.21(d).

 

“Assignment”
and “Assignments”: Each as defined in Section 2.01(c).

 

“Assignment
of Leases”: With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar instrument
executed by the Mortgagor, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation,
leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered,
as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

 

“Assignment
of Mortgage”: An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, which is sufficient under the laws of the jurisdiction in which the related Mortgaged Property is located to reflect of
record the sale of the Mortgage, which assignment, notice of transfer or equivalent instrument may be in the form of one or more
blanket assignments covering Mortgages encumbering Mortgaged Properties located in the same jurisdiction, if permitted by law
and acceptable for recording.

 

“Assumed
Scheduled Payment”: For any Due Period and with respect to any Mortgage Loan that is delinquent in respect of its Balloon
Payment or any REO Loan (excluding, for purposes of determining or making P&I Advances, the portion allocable to any related
Companion Loan, if applicable), an amount equal to the sum of (a) the principal portion of the Monthly Payment that would
have been due on such Mortgage Loan or REO Loan on the related Due Date based on the constant payment required by the related
Mortgage Note or the original amortization schedule of such Mortgage Loan (as calculated with interest at the related Mortgage
Rate), if applicable, assuming such Balloon Payment has not become due, after giving effect to any reduction in the principal
balance thereof occurring in connection with a modification of such Mortgage Loan in connection with a default or bankruptcy (or
similar proceeding), and (b) interest on the Stated Principal Balance of such Mortgage Loan or REO Loan (excluding, for purposes
of determining P&I Advances, the portion allocable to any related Companion Loan, if applicable) at the applicable Mortgage
Rate (net of interest at the Servicing Fee Rate).

 

“Authenticating
Agent”: The Certificate Administrator or any agent of the Certificate Administrator appointed to act as Authenticating
Agent pursuant to Section 5.02(a).

 

“Available
Distribution Amount”: With respect to any Distribution Date, an amount equal to the sum of (without duplication):

 

(a)                
the aggregate amount of all cash received on the Mortgage Loans (in the case of a Non-Serviced Mortgage Loan, only to the extent
received by the Trust pursuant to the related Non-Serviced Pooling Agreement and/or the related Non-Serviced Intercreditor Agreement)
and any REO Property (including Compensating Interest Payments with respect to the Mortgage Loans required to be deposited by
the Master Servicer pursuant to Section 3.19(a)) on deposit in the Certificate Account (in each case, exclusive of
any amount on deposit in or credited to any portion of the Certificate

 

    	-12-

    	 

    

 

Account
that is held for the benefit of the Companion Holders), the Distribution Accounts and, without duplication, the REO Account, in
each case, exclusive of any amount on deposit in or credited to any portion of the REO Account that is held for the benefit of
the Companion Holders, as of the close of business on the related P&I Advance Date, exclusive of (without duplication):

 

(i)                 
all Monthly Payments paid by the Mortgagors of a Mortgage Loan that are due on a Due Date following the end of the related Due
Period, excluding interest relating to payments prior to, but due after, the Cut-off Date;

 

(ii)               
all unscheduled Principal Prepayments (together with any related payments of interest allocable to the period following the related
Due Date for the related Mortgage Loan), Liquidation Proceeds, Insurance and Condemnation Proceeds and other unscheduled recoveries,
in each case, received subsequent to the related Determination Date (or, with respect to voluntary Principal Prepayments for each
Mortgage Loan with a Due Date occurring after the related Determination Date, subsequent to the related Due Date) allocable to
the Mortgage Loans;

 

(iii)              
(A) all amounts payable or reimbursable to any Person from the Certificate Account pursuant to clauses (ii) through
(xviii), inclusive, and (xxi) of Section 3.05(a); (B) all amounts payable or reimbursable to any
Person from the Lower-Tier REMIC Distribution Account pursuant to clauses (ii) through (vii), inclusive, of
Section 3.05(b); and (C) any Net Investment Earnings contained therein;

 

(iv)               
with respect to the Interest Reserve Loans and any Distribution Date relating to each Interest Accrual Period occurring in (1) each
February or (2) any January in a year that is not a leap year (in each case, unless the related Distribution Date is the
final Distribution Date), an amount equal to one (1) day of interest on the Stated Principal Balance of such Mortgage Loan as
of the Due Date in the month preceding the month in which such Distribution Date occurs at the related Net Mortgage Rate to the
extent such amounts are Withheld Amounts;

 

(v)               
[Reserved];

 

(vi)              
all Yield Maintenance Charges allocable to the Mortgage Loans;

 

(vii)            
all amounts deposited in the Certificate Account, the Lower-Tier REMIC Distribution Account and, without duplication, the REO
Account in error; and

 

(viii)           
any Penalty Charges allocable to the Mortgage Loans;

 

(b)              
if and to the extent not already included in clause (a) hereof, the aggregate amount transferred from the REO Account
allocable to the Mortgage Loans to the Certificate Account for such Distribution Date pursuant to Section 3.16(c);

 

    	-13-

    	 

    

 

(c)                
the aggregate amount of any P&I Advances made by the Master Servicer or the Trustee, as applicable, with respect to the Mortgage
Loans and the Distribution Date (net of the related Certificate Administrator Fee with respect to the Mortgage Loans for which
such P&I Advances are made) pursuant to Section 4.03 or Section 7.05; and

 

(d)                
for the Distribution Date occurring in each March (or February, if the related Distribution Date is the final Distribution Date),
the Withheld Amounts remitted to the Lower-Tier REMIC Distribution Account pursuant to Section 3.25(b).

 

Notwithstanding
the investment of funds held in the Certificate Account pursuant to Section 3.06, for purposes of calculating the
Available Distribution Amount, the amounts so invested shall be deemed to remain on deposit in such account.

 

“Balloon
Mortgage Loan”: Any Mortgage Loan or Companion Loan that by its original terms or by virtue of any modification entered
into as of the Closing Date provides for an amortization schedule for such Mortgage Loan or Companion Loan extending beyond its
Maturity Date.

 

“Balloon
Payment”: With respect to any Balloon Mortgage Loan, as of any date of determination, the Monthly Payment payable on
the Maturity Date of such Balloon Mortgage Loan.

 

“Bankruptcy
Code”: The federal Bankruptcy Code, as amended from time to time (Title 11 of the United States Code).

 

“Base
Interest Fraction”: With respect to any Principal Prepayment on any Mortgage Loan and with respect to any Class of the
Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B,
Class C and Class D Certificates, a fraction (a) whose numerator is the greater of (x) zero and (y) the
difference between (i) the Pass-Through Rate on such Class of Certificates, and (ii) the discount rate used in accordance
with the related Mortgage Loan documents in calculating the Yield Maintenance Charge with respect to such Principal Prepayment
and (b) whose denominator is the greater of zero and the difference between (i) the Mortgage Rate on such Mortgage Loan
(or with respect to any Mortgage Loan that is part of a Serviced Whole Loan, the Mortgage Rate of such Serviced Whole Loan), and
(ii) the discount rate used in accordance with the related Mortgage Loan documents in calculating the Yield Maintenance Charge
with respect to such Principal Prepayment. However, (1) under no circumstances shall the Base Interest Fraction be greater
than one or less than zero, (2) if such discount rate is greater than or equal to the Mortgage Rate on the related Mortgage
Loan or the Serviced Whole Loan, as applicable, and is greater than or equal to the Pass-Through Rate on such Class of Certificates,
then the Base Interest Fraction will equal zero and (3) if the discount rate is greater than or equal to the Mortgage Rate
on such Mortgage Loan or the Serviced Whole Loan, as applicable, and is less than the Pass-Through Rate on such Class of Certificates,
then the Base Interest Fraction will be one (1). The Master Servicer shall provide to the Certificate Administrator the discount
rate referenced above for purposes of calculating the Base Interest Fraction.

 

    	-14-

    	 

    

 

“Book-Entry
Certificate”: Any Certificate registered in the name of the Depository or its nominee.

 

“Breach”:
As defined in Section 2.03(b).

 

“Business
Day”: Any day other than a Saturday, a Sunday or a day on which banking institutions in Charlotte, North Carolina, Oakland,
California, Miami, Florida, Overland Park, Kansas, Minneapolis, Minnesota, New York, New York, Pittsburgh, Pennsylvania, San Francisco,
California, Bethesda, Maryland 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.

 

“CERCLA”:
The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

“Certificate”:
Any one of the Depositor’s Commercial Mortgage Pass-Through Certificates, Series 2015-C29, as executed and delivered
by the Certificate Registrar and authenticated and delivered hereunder by the Authenticating Agent.

 

“Certificate
Account”: A segregated custodial account or accounts created and maintained by the Master Servicer pursuant to Section 3.04(a)
on behalf of the Trustee for the Certificateholders, which shall be entitled “Wells Fargo Bank, National Association”,
as Master Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders
of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Certificate
Account”. Any such account or accounts shall be an Eligible Account. Subject to the related Intercreditor Agreement and
taking into account that each Companion Loan is subordinate or pari passu, as applicable, to the related Serviced Mortgage
Loan to the extent set forth in the related Intercreditor Agreement, the subaccount described in the second paragraph of Section 3.04(b)
that is part of the Certificate Account shall be for the benefit of the related Companion Holder, to the extent funds on deposit
in such subaccount are attributed to such Companion Loan and shall not be an asset of the Trust Fund or any Trust REMIC formed
hereunder.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator, or if any successor
certificate administrator is appointed thereto pursuant to Section 5.08 or any successor certificate administrator
appointed hereunder. Wells Fargo Bank, National Association will perform the certificate administrator role through its Corporate
Trust Services division.

 

“Certificate
Administrator Fee”: The fee to be paid to the Certificate Administrator as compensation for the Certificate Administrator’s
activities under this Agreement; provided that the Certificate Administrator Fee includes the Trustee Fee, and the Certificate
Administrator shall pay the Trustee Fee to the Trustee.

 

“Certificate
Administrator Fee Rate”: The Certificate Administrator Fee shall be equal to the product of the rate equal to 0.00457%
per annum and the Stated Principal Balance of

 

    	-15-

    	 

    

 

the
related Mortgage Loan (calculated in the same manner as interest is calculated on the related Mortgage Loan) or REO Loan (other
than the portion of an REO Loan related to any Companion Loan) as of the preceding Distribution Date. The Certificate Administrator
Fee includes the Trustee Fee.

 

“Certificate
Administrator’s Website”: The Certificate Administrator’s Internet website, which shall initially be located
at www.ctslink.com.

 

“Certificate
Balance”: With respect to any Class of Principal Balance Certificates (i) on or prior to the first Distribution
Date, an amount equal to the Original Certificate Balance of such Class as specified in the Preliminary Statement hereto and (ii) as
of any date of determination after the first Distribution Date, the Certificate Balance of such Class of Principal Balance Certificates
on the Distribution Date immediately prior to such date of determination (determined as adjusted pursuant to Section 1.02(iii)).
The initial Certificate Balance of a Class of Exchangeable Certificates represents the principal balance of such Class without
giving effect to any exchange and conversion for Class EC Certificates. The initial Certificate Balance of the Class EC
Certificates is equal to the aggregate of the initial Certificate Balances of the Exchangeable Certificates and represents the
maximum principal balance of such Class that could be issued in an exchange and conversion. In the event that no Exchangeable
Certificates are converted to Class EC Certificates, the Class EC Certificate Balance would be equal to zero. For purposes
of distributions to the Certificates pursuant to this Agreement, other than for federal income tax purposes, any exchange of (i)
a portion of the Exchangeable Certificates will result in a conversion and reduction, on a dollar-for-dollar basis, of a proportionate
share of each related component Class of the Exchangeable Certificates, and a conversion and increase, on a dollar-for-dollar
basis, of the Certificate Balance of the Class EC Certificates, and (ii) any amount of the Class EC Certificates will
result in a conversion and reduction, on a dollar-for-dollar basis, of the Certificate Balance of the Class EC Certificates
converted, and a conversion and increase, on a dollar-for-dollar basis, of a proportionate share of the related Certificate Balances
of each Class of Certificates that are components of the Exchangeable Certificates.

 

“Certificate
Deferred Interest”: For any Distribution Date, with respect to any Class of Principal Balance Certificates, an amount
equal to the Mortgage Deferred Interest allocated to such Class of Principal Balance Certificates, as applicable, pursuant to
Section 4.06(a). With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes
of determining allocations under Section 4.06(a) of this Agreement as between the Exchangeable Certificates and the
Class EC Certificates, all amounts of Certificate Deferred Interest of each Class of Exchangeable Certificates for any Distribution
Date shall be determined without regard to any exchange and conversion of such Exchangeable Certificates for Class EC Certificates;
provided, however, that all amounts of Certificate Deferred Interest that would otherwise be allocable to Exchangeable
Certificates that have been exchanged and converted for Class EC Certificates shall be deemed allocable to such Class EC
Certificates, without duplication.

 

“Certificate
Factor”: With respect to any Class of Certificates (other than the Class R Certificates), as of any date of determination,
a fraction, expressed as a decimal carried

 

    	-16-

    	 

    

 

to
at least eight (8) places, the numerator of which is the then related Certificate Balance or Notional Amount, and the denominator
of which is the related Original Certificate Balance.

 

“Certificate
Owner”: With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Depository Participant or on the books of an indirect participating brokerage
firm for which a Depository Participant acts as agent.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and registrar appointed pursuant to
Section 5.03(a).

 

“Certificateholder”
or “Holder”: The Person in whose name a Certificate is registered in the Certificate Register; provided,
however, that solely for the purposes of giving any consent, approval, waiver or taking any action pursuant to this Agreement,
any Certificate registered in the name of or beneficially owned by the Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Depositor, any Mortgage Loan Seller, a manager of a Mortgaged Property, a Mortgagor or any Affiliate
of any of such Persons shall be deemed not to be outstanding, and the Voting Rights to which it is entitled shall not be taken
into account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent, approval,
waiver or take any such action has been obtained; provided, however, that the foregoing restrictions shall not apply
in the case of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Depositor, any Mortgage
Loan Seller or any Affiliate of any of such Persons unless such consent, approval or waiver sought from such party would in any
way increase its compensation or limit its obligations in the named capacities hereunder or waive a Servicer Termination Event;
provided, further, however, that so long as there is no Servicer Termination Event with respect to the Master
Servicer or the Special Servicer, the Master Servicer and the Special Servicer or such Affiliate of either shall be entitled to
exercise such Voting Rights with respect to any issue which could reasonably be believed to adversely affect such party’s
compensation or increase its obligations or liabilities hereunder; and provided, further, however, that such
restrictions shall not apply to the exercise of the Special Servicer’s, the Master Servicer’s or any Mortgage Loan
Seller’s rights, if any, or any of their Affiliates as a member of the Controlling Class. The Trustee and the Certificate
Administrator shall each be entitled to request and rely upon a certificate of the Master Servicer, the Special Servicer or the
Depositor in determining whether a Certificate is registered in the name of an Affiliate of such Person. All references herein
to “Holders” or “Certificateholders” shall reflect the rights of Certificate Owners as they
may indirectly exercise such rights through the Depository and the Depository Participants, except as otherwise specified herein;
provided, however, that the parties hereto shall be required to recognize as a “Holder” or “Certificateholder”
only the Person in whose name a Certificate is registered in the Certificate Register.

 

“Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of the Special Servicer pursuant
to Section 7.01(d) hereof, the Holders of Certificates evidencing at least 75% of the aggregate Voting Rights (taking
into account the application of Collateral Support Deficits and the application of any Appraisal Reductions to notionally reduce
the Certificate Balance of the Certificates) of all Principal Balance Certificates and the Class EC Certificates on an aggregate
basis.

 

    	-17-

    	 

    

 

“Certification
Parties”: As defined in Section 11.06. “Certification Party” shall mean any one of the
Certification Parties.

 

“Certifying
Person”: As defined in Section 11.06.

 

“Certifying
Servicer”: As defined in Section 11.09.

 

“Class”:
With respect to any Certificates or Uncertificated Lower-Tier Interests, all of the Certificates bearing the same alphabetical
(and, if applicable, numerical) Class designation and each designated Uncertificated Lower-Tier Interest.

 

“Class A
Certificate”: Any Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB and
Class A-S Certificate.

 

“Class A-1
Certificate”: A Certificate designated as “Class A-1” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-1
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 1.6255%.

 

“Class A-2
Certificate”: A Certificate designated as “Class A-2” on the face thereof, in the form of Exhibit A-2
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-2
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 2.9213%.

 

“Class A-3A1
Certificate”: A Certificate designated as “Class A-3A1” on the face thereof, in the form of Exhibit A-3
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-3A1
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.3423%.

 

“Class A-3A2
Certificate”: A Certificate designated as “Class A-3A2” on the face thereof, in the form of Exhibit A-4
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-3A2
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.3423%.

 

“Class
A-4 Certificate”: A Certificate designated as “Class A-4” on the face thereof, in the form of Exhibit A-5
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-4 Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.6108%.

 

    	-18-

    	 

    

 

“Class
A-S Certificate”: A Certificate designated as “Class A-S” on the face thereof, in the form of Exhibit A-14
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-S Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) 3.9166%
and (ii) the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Class
A-SB Certificate”: A Certificate designated as “Class A-SB” on the face thereof, in the form of Exhibit A-6
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-SB Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.3044%.

 

“Class
A-SB Planned Principal Balance”: With respect to any Distribution Date, the planned principal amount for such Distribution
Date specified in Schedule 2 hereto relating to the Class A-SB Certificates.

 

“Class
B Certificate”: A Certificate designated as “Class B” on the face thereof, in the form of Exhibit A-15
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
B Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) 4.1180%
and (ii) the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Class
C Certificate”: A Certificate designated as “Class C” on the face thereof, in the form of Exhibit A-16
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
C Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net
Mortgage Rate for such Distribution Date.

 

“Class
D Certificate”: A Certificate designated as “Class D” on the face thereof, in the form of Exhibit A-18
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
D Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net
Mortgage Rate for such Distribution Date less 0.5000%.

 

“Class
E Certificate”: A Certificate designated as “Class E” on the face thereof, in the form of Exhibit A-19
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

    	-19-

    	 

    

 

“Class
E Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) 3.9000%
and (ii) the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Class EC
Certificate”: Any one of the Certificates with a “Class EC” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of Exhibit A-17 to this Agreement. For federal income tax purposes, the Class EC Certificates represent
undivided beneficial interests in the related portion of the Grantor Trust in respect of the Exchangeable Certificates that have
been exchanged and converted for Class EC Certificates. Upon any such exchange and conversion, the Exchangeable Certificates
so exchanged and converted shall cease to be outstanding, but the regular interests in the Upper-Tier REMIC represented by such
Exchangeable Certificates shall continue to be outstanding in uncertificated form in the Grantor Trust and shall henceforth be
represented by the Class EC Certificates.

 

“Class EC
Distribution Account”: The segregated trust account or accounts created and maintained as a separate account or accounts
by the Certificate Administrator (on behalf of the Trustee) pursuant to Section 3.04(g) of this Agreement, which shall
be entitled “Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit of Wilmington Trust,
National Association, as Trustee, for the benefit of the holders of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial
Mortgage Pass-Through Certificates, Class EC Distribution Account,” and which must be an Eligible Account or a subaccount
of an Eligible Account. The Class EC Distribution Account shall not be an asset of any Trust REMIC formed hereunder, but
rather shall be an asset of the Grantor Trust.

 

“Class
F Certificate”: A Certificate designated as “Class F” on the face thereof, in the form of Exhibit A-20
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
F Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) 3.9000%
and (ii) the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Class LA1
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LA2
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LA3A1
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

    	-20-

    	 

    

 

“Class LA3A2
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LA4
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LAS
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LASB
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LB
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LC
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LD
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LE
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LF
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LNR
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original

 

    	-21-

    	 

    

 

Lower-Tier
Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

 

“Class LR
Interest”: The uncertificated residual interest in the Lower-Tier REMIC, represented by the Class R Certificates.

 

“Class NR
Certificate”: A Certificate designated as “Class NR” on the face thereof, in the form of Exhibit A-21
hereto, and evidencing (i) a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and
(ii) an undivided beneficial ownership interest in the related portion of the Grantor Trust.

 

“Class NR
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) 3.9000%
and (ii) the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Class R
Certificate”: A Certificate designated as “Class R” on the face thereof in the form of Exhibit A-22
hereto, and evidencing the sole class of “residual interest” in each Trust REMIC for purposes of the REMIC Provisions.

 

“Class
Unpaid Interest Shortfall”: As to any Distribution Date and any Class of Regular Certificates, the excess, if any, of
(a) the sum of (i) the Distributable Certificate Interest in respect of such Class of Certificates for the immediately
preceding Distribution Date and (ii) any outstanding Class Unpaid Interest Shortfall payable to such Class of Certificates
on such preceding Distribution Date over (b) the aggregate amount in respect of interest actually distributed to such Class
of Certificates on such immediately preceding Distribution Date. The Class Unpaid Interest Shortfall with respect to any Class
of Certificates as of the initial Distribution Date is zero. No interest shall accrue on Class Unpaid Interest Shortfalls. With
respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations
and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC
Certificates, all amounts of Class Unpaid Interest Shortfalls of each Class of Exchangeable Certificates for any Distribution
Date shall be determined without regard to any exchange and conversion of such Exchangeable Certificates for Class EC Certificates;
provided, however, that all amounts of Class Unpaid Interest Shortfalls that are allocable to Exchangeable Certificates
that have been exchanged and converted for Class EC Certificates shall be deemed allocable to such Class EC Certificates,
without duplication.

 

“Class
UR Interest”: The uncertificated residual interest in the Upper-Tier REMIC, represented by the Class R Certificates.

 

“Class
X Certificates”: The Class X-A Certificates, Class X-B Certificates, Class X-C Certificates, Class X-D
Certificates and Class X-E Certificates, Class X-F Certificates and Class X-NR Certificates or any of the Class X-A
Certificates, Class X-B Certificates, Class X-C Certificates, Class X-D Certificates, Class X-E Certificates, Class
X-F Certificates or Class X-NR Certificates, as the context may require.

 

    	-22-

    	 

    

 

“Class
X-A Certificate”: A Certificate designated as “Class X-A” on the face thereof, in the form of Exhibit A-9
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-A Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class A Certificates
(determined without giving effect to any exchange and conversion of any Class A-S Certificates for Class EC Certificates).

 

“Class
X-A Pass-Through Rate”: The Pass-Through Rate for Class X-A Certificates for any Distribution Date will equal the excess,
if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the weighted average of the Pass-Through
Rates on the Class A Certificates for such Distribution Date, weighted on the basis of their respective Certificate Balances (calculated
without giving effect to any exchange and conversion of any Class A-S Certificates for Class EC Certificates) immediately
prior to the Distribution Date. The Pass-Through Rate applicable to the Class X-A Certificates for the initial Distribution Date
shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-B Certificate”: A Certificate designated as “Class X-B” on the face thereof, in the form of Exhibit A-8
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-B Notional Amount”: As of any date of determination, the Certificate Balance of the Class B Certificates.

 

“Class
X-B Pass-Through Rate”: The Pass-Through Rate for the Class X-B Certificates for any Distribution Date shall equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate
on the Class B Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-B Certificates for the
initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-C Certificate”: A Certificate designated as “Class X-C” on the face thereof, in the form of Exhibit A-9
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-C Notional Amount”: As of any date of determination, the Certificate Balance of the Class C Certificates.

 

“Class
X-C Pass-Through Rate”: The Pass-Through Rate for the Class X-C Certificates for any Distribution Date shall equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate
on the Class C Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-C Certificates for the
initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-D Certificate”: A Certificate designated as “Class X-D” on the face thereof, in the form of Exhibit A-10
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

    	-23-

    	 

    

 

“Class
X-D Notional Amount”: As of any date of determination, the Certificate Balance of the Class D Certificates.

 

“Class
X-D Pass-Through Rate”: The Pass-Through Rate for the Class X-D Certificates for any Distribution Date will equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate
on the Class D Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-D Certificates for the
initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-E Certificate”: A Certificate designated as “Class X-E” on the face thereof, in the form of Exhibit A-11
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-E Notional Amount”: As of any date of determination, the Certificate Balance of the Class E Certificates.

 

“Class
X-E Pass-Through Rate”: The Pass-Through Rate for the Class X-E Certificates for any Distribution Date shall equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate
on the Class E Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-E Certificates for the
initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-F Certificate”: A Certificate designated as “Class X-F” on the face thereof, in the form of Exhibit A-12
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-F Notional Amount”: As of any date of determination, the Certificate Balance of the Class F Certificates.

 

“Class
X-F Pass-Through Rate”: The Pass-Through Rate for the Class X-F Certificates for any Distribution Date shall equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate
on the Class F Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-F Certificates for the
initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-NR Certificate”: A Certificate designated as “Class X-NR” on the face thereof, in the form of Exhibit A-13
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC provisions.

 

“Class
X-NR Notional Amount”: As of any date of determination, the Certificate Balance of the Class NR Certificates.

 

“Class
X-NR Pass-Through Rate”: The Pass-Through Rate for the Class X-NR Certificates for any Distribution Date shall equal
the excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through
Rate on the Class

 

    	-24-

    	 

    

 

NR
Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class X-NR Certificates for the initial Distribution
Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Clearing
Agency”: An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange
Act. The initial Clearing Agency shall be DTC.

 

“Clearstream”:
Clearstream Banking, société anonyme or any successor thereto.

 

“Closing
Date”: June 30, 2015.

 

“CMBS”:
Commercial mortgage-backed securities.

 

“Code”:
The Internal Revenue Code of 1986, as amended from time to time, and applicable final or temporary regulations of the U.S. Department
of the Treasury issued pursuant thereto.

 

“Collateral
Support Deficit”: As defined in Section 4.04(a).

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion
Distribution Account”: With respect to any Serviced Companion Loan, the separate account created and maintained by the
Companion Paying Agent pursuant to Section 3.04(b) and held on behalf of the Companion Holders, which shall be entitled
“Wells Fargo Bank, National Association, as Companion Paying Agent for the benefit of the Companion Holders of the Companion
Loans, relating to the JPMBB Commercial Mortgage Securities Trust 2015-C29 Commercial Mortgage Pass-Through Certificates, Series 2015-C29.”
The Companion Distribution Account shall not be an asset of the Trust Fund, any Trust REMIC or the Grantor Trust, but instead
shall be held by the Companion Paying Agent on behalf of the Companion Holders. Any such account shall be an Eligible Account.
Notwithstanding the foregoing, if the Master Servicer and the Companion Paying Agent are the same entity, the Companion Distribution
Account may be the subaccount referenced in the second paragraph of Section 3.04(b).

 

“Companion
Holders”: Each of the holders of record of any Companion Loan.

 

“Companion
Loan(s)”: As defined in the Preliminary Statement.

 

“Companion
Paying Agent”: With respect to the Serviced Companion Loans, if any, the Master Servicer in its role as Companion Paying
Agent appointed pursuant to Section 3.32.

 

“Companion
Register”: The register maintained by the Companion Paying Agent pursuant to Section 3.33.

 

“Compensating
Interest Payments”: With respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) and any related Serviced
Pari Passu Companion Loan, an amount as of any Distribution Date equal to the lesser of (i) the aggregate amount of

 

    	-25-

    	 

    

 

Prepayment
Interest Shortfalls incurred in connection with voluntary principal prepayments received in respect of the Mortgage Loans and
any related Serviced Pari Passu Companion Loan (in each case other than a Specially Serviced Mortgage Loan or a Mortgage Loan
or any related Serviced Pari Passu Companion Loan on which the Special Servicer allowed a prepayment on a date other than the
applicable Due Date) for the related Distribution Date and (ii) the aggregate of (A) that portion of the Master Servicer’s
Servicing Fees for such Distribution Date that is, in the case of each Mortgage Loan and Serviced Pari Passu Companion Loan for
which such Servicing Fees are being paid for such Due Period, calculated at a rate of 0.0025% per annum, (B) all Prepayment
Interest Excesses received by the Master Servicer during such Due Period with respect to the Mortgage Loans (and, so long as a
Serviced Whole Loan is serviced hereunder, the related Serviced Pari Passu Companion Loan) subject to such prepayment and (C) to
the extent earned on principal prepayments, net investment earnings payable to the Master Servicer for such Due Period received
by the Master Servicer during such Due Period with respect to the Mortgage Loan or any related Serviced Pari Passu Companion Loan,
as applicable, subject to such prepayment. In no event will the rights of the Certificateholders to the offset of the aggregate
Prepayment Interest Shortfalls be cumulative. However, if a Prepayment Interest Shortfall occurs with respect to a Mortgage Loan
as a result of the Master Servicer’s allowing the related Mortgagor to deviate (a “Prohibited Prepayment”)
from the terms of the related Mortgage Loan documents regarding Principal Prepayments (other than (V) a Non-Serviced Mortgage
Loan, (W) subsequent to a default under the related Mortgage Loan documents or if the Mortgage Loan is a Specially Serviced
Mortgage Loan, (X) pursuant to applicable law or a court order or otherwise in such circumstances where the Master Servicer
is required to accept such Principal Prepayment in accordance with the Servicing Standard, (Y) at the request or with the
consent of the Special Servicer or, so long as a Control Event has not occurred and is not continuing, the Directing Certificateholder
or (Z) in connection with the payment of any Insurance and Condemnation Proceeds), then for purposes of calculating the Compensating
Interest Payment for the related Distribution Date, the Master Servicer shall pay, without regard to clause (ii) above,
the aggregate amount of Prepayment Interest Shortfalls with respect to such Mortgage Loan otherwise described in clause (i)
above in connection with such Prohibited Prepayments.

 

For
the avoidance of doubt, Compensating Interest Payments with respect to each Serviced Pari Passu Whole Loan shall be allocated
among the related Mortgage Loan and related Serviced Pari Passu Companion Loan, pro rata, in accordance with their respective
outstanding principal balances.

 

“Consultation
Termination Event”: At any date at which (i) no Class of Control Eligible Certificates exists where such Class’s
aggregate Certificate Balance is at least equal to 25% of the Original Certificate Balance of that Class, in each case without
regard to the application of any Appraisal Reductions or (ii) a Holder of the Class E Certificates is the majority Controlling
Class Certificateholder and has irrevocably waived its right, in writing, to exercise any of the rights of the Controlling Class
Certificateholder, and such rights have not been reinstated to a successor Controlling Class Certificateholder pursuant to Section 3.28(l);
provided, that no Consultation Termination Event resulting solely from the operation of clause (ii) shall be deemed to
have existed or be in continuance with respect to a successor Holder of Class E Certificates that has not irrevocably waived its
right to exercise any of the rights of the Controlling Class Certificateholder.

 

    	-26-

    	 

    

 

“Control
Eligible Certificates”: Any of the Class E, Class F and Class NR Certificates.

 

“Control
Event”: The occurrence of (i) the Certificate Balance of the Class E Certificates (taking into account the application
of any Appraisal Reductions to notionally reduce the Certificate Balance of such Class in accordance with Section 4.05(a)
hereof) being reduced to less than 25% of the Original Certificate Balance of such Class or (ii) a Holder of the Class E Certificates
becoming the majority Controlling Class Certificateholder and has irrevocably waived its right, in writing, to exercise any of
the rights of the Controlling Class Certificateholder and such rights have not been reinstated to a successor Controlling Class
Certificateholder pursuant to Section 3.28(l).

 

“Controlling
Class”: As of any date of determination, the most subordinate Class of Control Eligible Certificates then outstanding
that has a then aggregate Certificate Balance as notionally reduced by any Appraisal Reductions allocable to such Class in accordance
with Section 4.05(a), at least equal to 25% of the Original Certificate Balance of that Class. The Controlling Class
as of the Closing Date will be the Class NR Certificates.

 

“Controlling
Class Certificateholders”: Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class
as determined by the Certificate Registrar, from time to time, upon request by any party hereto. The Trustee, the Master Servicer,
the Special Servicer or the Senior Trust Advisor may from time to time request (the cost of which being an expense of the Trust)
that the Certificate Administrator provide a list of the Holders (or Certificate Owners, if applicable) of the Controlling Class
and the Certificate Administrator shall promptly provide such list without charge to such Trustee, Master Servicer, Senior Trust
Advisor or Special Servicer, as applicable. The Trustee, Master Servicer, the Special Servicer and the Senior Trust Advisor shall
be entitled to rely on any such list so provided.

 

“Corporate
Trust Office”: The principal corporate trust office of the Trustee and the Certificate Administrator at which at any
particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of
the execution of this Agreement is located (i) with respect to Certificate transfers and surrenders, at Wells Fargo Center,
Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113, (ii) with respect to the Trustee at 1100 North Market Street,
Wilmington, Delaware 19890, Attention: JPMBB 2015-C29; and (iii) for all other purposes, to the Certificate Administrator
at 9062 Old Annapolis Road, Columbia, Maryland 21045, Attention: Corporate Trust Services (CMBS), JPMBB Commercial Mortgage Securities
Trust 2015-C29, telecopy number (410) 715-2380.

 

“Corrected
Mortgage Loan”: Any Specially Serviced Mortgage Loan that has become current and remained current for three (3) consecutive
Monthly Payments (for such purposes taking into account any modification or amendment of the related Mortgage Loan or Companion
Loan, as applicable, whether by a consensual modification or in connection with a bankruptcy, insolvency or similar proceeding
involving the Mortgagor), and (provided that no additional default is foreseeable in the reasonable judgment of the Special
Servicer and no other event or circumstance exists that causes such Mortgage Loan or Companion Loan, as applicable, to otherwise
constitute a Specially Serviced Mortgage Loan) the servicing of which the Special Servicer has returned to the Master Servicer
pursuant to Section 3.21(a).

 

    	-27-

    	 

    

 

“CREFC®”:
The Commercial Real Estate Finance Council®, or any successor organization reasonably acceptable to the Certificate
Administrator, the Master Servicer, the Special Servicer and, prior to the occurrence and continuance of a Control Event, the
Directing Certificateholder.

 

“CREFC®
Advance Recovery Report”: The monthly report substantially in the form of, and containing the information called
for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Appraisal Reduction Template”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Appraisal Reduction Template” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Bond Level File”: The data file in the “CREFC® Bond Level File” format substantially
in the form of and containing the information called for therein, or such other form for the presentation of such information
as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Collateral Summary File”: The data file in the “CREFC® Collateral Summary File” format
substantially in the form of and containing the information called for therein, or such other form for the presentation of such
information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Comparative Financial Status Report”: The monthly report in “Comparative Financial Status Report”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Delinquent Loan Status Report”: The monthly report in the “Delinquent Loan Status Report” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Financial File”: The data file in the “CREFC® Financial File” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and
containing the information called for in, the downloadable

 

    	-28-

    	 

    

 

form
of the “Historical Bond/Collateral Realized Loss Reconciliation Template” available and effective from time to time
on the CREFC® Website.

 

“CREFC®
Historical Liquidation Loss Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Historical Liquidation Loss Template” available and effective from time to time
on the CREFC® Website.

 

“CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report”: The monthly report in the “Historical
Loan Modification and Corrected Mortgage Loan Report” format substantially in the form of and containing the information
called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from
time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Intellectual Property Royalty License Fee”: With respect to each Mortgage Loan and REO Loan (other than the portion
of an REO Loan related to any Companion Loan) and for any Distribution Date, an amount accrued during the related Interest Accrual
Period at the CREFC® Intellectual Property Royalty License Fee Rate on the Stated Principal Balance of such Mortgage
Loan or REO Loan as of the close of business on the Distribution Date in such Interest Accrual Period; provided that such
amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment
due or deemed due on the related Mortgage Loan or REO Loan is computed and shall be prorated for partial periods. For the avoidance
of doubt, the CREFC® Intellectual Property Royalty License Fee shall be deemed payable by the Master Servicer from
the Lower-Tier REMIC.

 

“CREFC®
Intellectual Property Royalty License Fee Rate”: With respect to each Mortgage Loan, a rate equal to 0.0005% per
annum.

 

“CREFC®
Interest Shortfall Reconciliation Template”: A report substantially in the form of, and containing the information
called for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available and effective from
time to time on the CREFC® Website.

 

“CREFC®
Investor Reporting Package”: The collection of reports specified by the CREFC® from time to time
as the “CREFC® Investor Reporting Package.” As of the Closing Date, the CREFC® Investor
Reporting Package contains seven electronic files ((1) CREFC® Loan Setup File, (2) CREFC®
Loan Periodic Update File, (3) CREFC® Property File, (4) CREFC® Bond Level File, (5) CREFC®
Collateral Summary File, (6) CREFC® Financial File and (7) CREFC® Special Servicer
Loan File) and nine surveillance reports ((1) CREFC® Servicer Watch List, (2) CREFC® Delinquent
Loan Status Report, (3) CREFC® REO Status Report, (4) CREFC® Comparative Financial Status
Report, (5) CREFC® Historical Loan Modification and Corrected Mortgage Loan Report, (6) CREFC®
Operating Statement Analysis Report, (7) CREFC® NOI Adjustment Worksheet, (8) CREFC®
Loan Level Reserve/LOC Report and (9) with respect to Mortgage Loans that have a Companion Loan, the CREFC® Total
Loan Report). In addition, the CREFC® Investor Reporting Package shall include the CREFC® Advance
Recovery Report. In addition, the CREFC® Investor Reporting Package shall include the following nine templates:
(1) CREFC® Appraisal Reduction Template, (2) CREFC® Servicer

 

    	-29-

    	 

    

 

Realized
Loss Template, (3) CREFC® Reconciliation of Funds Template, (4) CREFC® Historical Bond/Collateral
Realized Loss Reconciliation Template, (5) CREFC® Historical Liquidation Loss Template, (6) CREFC®
Interest Shortfall Reconciliation Template, (7) CREFC® Loan Modification Report, (8) CREFC® Loan
Liquidation Report and (9) CREFC® REO Liquidation Report. The CREFC® Investor Reporting Package
shall be substantially in the form of, and containing the information called for in, the downloadable forms of the “CREFC®
IRP” available as of the Closing Date on the CREFC® Website, or such other form for the presentation
of such information and containing such additional information or reports as may from time to time be approved by the CREFC®
for commercial mortgage backed securities transactions generally. For the purposes of the production of the CREFC®
Comparative Financial Status Report by the Master Servicer or the Special Servicer of any such report that is required to
state information for any period prior to the Cut-off Date, the Master Servicer or the Special Servicer, as the case may be, may
conclusively rely (without independent verification), absent manifest error, on information provided to it by the Mortgage Loan
Sellers or by the related Mortgagor or (x) in the case of such a report produced by the Master Servicer, by the Special Servicer
(if other than the Master Servicer or an Affiliate thereof) and (y) in the case of such a report produced by the Special
Servicer, by the Master Servicer (if other than the Special Servicer or an Affiliate thereof).

 

“CREFC®
License Agreement”: The License Agreement, in the form set forth on the website of CREFC® on the
Closing Date, relating to the use of the CREFC® trademarks and trade names.

 

“CREFC®
Loan Level Reserve/LOC Report”: The monthly report in the “CREFC® Loan Level Reserve/LOC
Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or
such other form for the presentation of such information as may be approved from time to time by the CREFC® for
commercial mortgage securities transactions generally.

 

“CREFC®
Loan Liquidation Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Liquidation Report” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Loan Modification Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Modification Report” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Loan Periodic Update File”: The data file in the “CREFC® Loan Periodic Update File”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information

 

    	-30-

    	 

    

 

as
may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Loan Setup File”: The data file in the “CREFC® Loan Setup File” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
NOI Adjustment Worksheet”: The worksheet in the “NOI Adjustment Worksheet” format substantially in
the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Operating Statement Analysis Report”: The report in the “Operating Statement Analysis Report” format
substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for
the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Property File”: The data file in the “CREFC® Property File” format substantially in
the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Reconciliation of Funds Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Reconciliation of Funds Template” available and effective from time to time
on the CREFC® Website, or such other form for the presentation of such information and containing such additional
information as may from time to time be recommended by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
REO Liquidation Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “REO Liquidation Report” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
REO Status Report”: The monthly report in the “REO Status Report” format substantially in the form
of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information
as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Servicer Realized Loss Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Servicer Realized Loss Template” available and effective from time to time on
the CREFC® Website.

 

    	-31-

    	 

    

 

“CREFC®
Servicer Watch List”: A monthly report, as of each Determination Date, including and identifying each Non-Specially
Serviced Mortgage Loan satisfying the “CREFC® Portfolio Review Guidelines” approved from time to time
by the CREFC® in the “CREFC® Servicer Watch List” format substantially in the form of
and containing the information called for therein for the Mortgage Loans, or such other form (including other portfolio review
guidelines) for the presentation of such information as may be approved from time to time by the CREFC® for commercial
mortgage securities transactions generally.

 

“CREFC®
Special Servicer Loan File”: The data file in the “CREFC® Special Servicer Loan File”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Total Loan Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Total Loan Report” available as of the Closing Date on the CREFC® Website,
or in such other form for the presentation of such information and containing such additional information as may from time to
time be adopted by the CREFC® for commercial mortgage-backed securities transactions and is reasonably acceptable
to the Master Servicer.

 

“CREFC®
Website”: The CREFC® Website located at “www.crefc.org” or such other primary website
as the CREFC® may establish for dissemination of its report forms.

 

“Cross-Over
Date”: The Distribution Date on which the Certificate Balances of the Subordinate Certificates (calculated without giving
effect to any exchange of Exchangeable Certificates for Class EC Certificates) have all been reduced to zero as a result
of the allocation of Collateral Support Deficits to those Certificates.

 

“Crossed
Mortgage Loan Group”: With respect to (i) any Mortgage Loan that consists of more than one commercial mortgage
loan, the underlying group of loans that are cross-collateralized and cross-defaulted with each other and (ii) any two or
more individual Mortgage Loans that are cross-collateralized and cross-defaulted with each other, such cross-collateralized and
cross-defaulted Mortgage Loans. For the avoidance of doubt, there are no Crossed Mortgage Loan Groups as of the Closing Date.

 

“Crossed
Underlying Loan”: With respect to any Crossed Mortgage Loan Group, (i) a Mortgage Loan that is cross-collateralized
and cross-defaulted with one or more other Mortgage Loans within such Crossed Mortgage Loan Group or (ii) a Mortgage Loan that
is cross-collateralized and cross-defaulted with one or more other Mortgage Loans within such Crossed Mortgage Loan Group.

 

“Crossed
Underlying Loan Repurchase Criteria”: With respect to any Crossed Mortgage Loan Group as to which one or more (but not
all) of the Crossed Underlying Loans therein are affected by a Defect or a Breach (the Crossed Underlying Loan(s) in such Crossed
Mortgage Loan Group affected by such Defect or Breach, for purposes of this definition, the “affected Crossed Underlying
Loans” and the other Crossed Underlying Loan(s) in such Crossed

 

    	-32-

    	 

    

 

Mortgage
Loan Group, for purposes of this definition, the “remaining Crossed Underlying Loans”) (i) the weighted average
Debt Service Coverage Ratio for all the remaining Crossed Underlying Loans for the four most recently reported calendar quarters
preceding the repurchase or substitution shall not be less than the greater of (a) the weighted average Debt Service Coverage
Ratio for the entire such Crossed Mortgage Loan Group, including the affected Crossed Underlying Loan(s), for the four most recently
reported calendar quarters preceding the repurchase or substitution, and (b) 1.25x, (ii) the weighted average LTV Ratio
for all the remaining Crossed Underlying Loans determined at the time of repurchase or substitution based upon an Appraisal obtained
by the Special Servicer at the expense of the related Mortgage Loan Seller shall not be greater than the least of (a) the
weighted average LTV Ratio for the entire such Crossed Mortgage Loan Group, including the affected Crossed Underlying Loan(s),
determined at the time of repurchase or substitution based upon an Appraisal obtained by the Special Servicer at the expense of
the related Mortgage Loan Seller, (b) the weighted average LTV Ratio for the entire such Crossed Mortgage Loan Group, including
the affected Crossed Underlying Loan(s), as of the Cut-off Date and (c) 75%, (iii) the related Mortgage Loan Seller,
at its expense, shall have furnished the Trustee and the Certificate Administrator with an Opinion of Counsel that any modification
relating to the repurchase or substitution of a Crossed Underlying Loan shall not cause an Adverse REMIC Event, (iv) the
related Mortgage Loan Seller causes the affected Crossed Underlying Loan to become not cross-collateralized and cross-defaulted
with the remaining related Crossed Underlying Loans prior to such repurchase or substitution or otherwise forbears from exercising
enforcement rights against the Primary Collateral for any Crossed Underlying Loan(s) remaining in the Trust Fund (while the Trust
forbears from exercising enforcement rights against the Primary Collateral for the Mortgage Loan removed from the Trust Fund)
and (v) unless a Control Event has occurred and is continuing, the Directing Certificateholder shall have consented to the
repurchase or substitution of the affected Crossed Underlying Loan, which consent shall not be unreasonably withheld, conditioned
or delayed.

 

“Custodial
Exception Report”: As defined in Section 2.02(b).

 

“Custodian”:
A Person who is at any time appointed by the Trustee pursuant to Section 8.11 as a document custodian for the Mortgage
Files, which Person shall not be the Depositor, either of the Mortgage Loan Sellers or an Affiliate of any of them. The Certificate
Administrator shall be the initial Custodian.

 

“Cut-off
Date”: With respect to each Mortgage Loan, the related Due Date of such Mortgage Loan in June 2015, or with respect
to any Mortgage Loan that has its first Due Date in July 2015, the date that would have otherwise been the related Due Date in
June 2015.

 

“Cut-off
Date Principal Balance”: With respect to any Mortgage Loan, the outstanding principal balance of such Mortgage Loan,
as of the Cut-off Date, after application of all payments of principal due on or before such date, whether or not received.

 

“DBRS”:
DBRS, Inc., and its successors in interest. If neither DBRS nor any successor remains in existence, “DBRS” shall be
deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the Trustee, the Certificate

 

    	-33-

    	 

    

 

Administrator,
the Master Servicer, the Directing Certificateholder and the Special Servicer and specific ratings of DBRS herein referenced shall
be deemed to refer to the equivalent ratings of the party so designated.

 

“Debt
Service Coverage Ratio”: With respect to any Mortgage Loan, for any twelve-month period covered by an annual operating
statement for the related Mortgaged Property, the ratio of (i) Net Operating Income produced by the related Mortgaged Property
during such period to (ii) the aggregate amount of Monthly Payments (other than any Balloon Payment) due under such Mortgage
Loan during such period; provided that with respect to the Mortgage Loans identified on Annex A-1 to the Prospectus
Supplement as paying interest only for a specified period of time set forth in the related Mortgage Loan documents and then paying
principal and interest, the related Monthly Payment will be calculated (for purposes of this definition only) to include interest
and principal (based on the remaining amortization term indicated in the Mortgage Loan Schedule).

 

“Default
Interest”: With respect to any Mortgage Loan or Companion Loan, all interest accrued in respect of such Mortgage Loan,
Companion Loan during such Due Period provided for in the related Mortgage Note or Mortgage as a result of a default (exclusive
of late payment charges) that is in excess of interest at the related Mortgage Rate accrued on the unpaid principal balance of
such Mortgage Loan or Companion Loan outstanding from time to time.

 

“Defaulted
Mortgage Loan”: A Mortgage Loan (i) that is delinquent at least sixty (60) days in respect of its Monthly Payments
or more than thirty (30) days (or sixty (60) days with respect to the circumstances described in clause (ii) of the
definition of Servicing Transfer Event) delinquent in respect of its Balloon Payment, if any, in either case such delinquency
to be determined without giving effect to any grace period permitted by the related Mortgage or Mortgage Note and without regard
to any acceleration of payments under the related Mortgage and Mortgage Note or (ii) as to which the Master Servicer or Special
Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the related
Mortgage Note. For the avoidance of doubt, a defaulted Companion Loan does not constitute a “Defaulted Mortgage Loan”.

 

“Defeasance
Accounts”: As defined in Section 3.20(k).

 

“Defect”:
As defined in Section 2.02(f).

 

“Deficient
Exchange Act Deliverable”: With respect to the Master Servicer, the Special Servicer, the Senior Trust Advisor, the
Custodian, the Certificate Administrator, the Trustee and each Servicing Function Participant and Additional Servicer retained
by it (other than an Initial Sub-Servicer), any item (x) regarding such party, (y) prepared by such party or any registered public
accounting firm, attorney or other agent retained by such party to prepare such information and (z) delivered by or on behalf
of such party pursuant to the delivery requirements under Article XI of this Agreement that does not conform to the
applicable reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations
promulgated thereunder.

 

    	-34-

    	 

    

 

“Deficient
Valuation”: With respect to any Mortgage Loan or Serviced Whole Loan, as applicable, a valuation by a court of competent
jurisdiction of the Mortgaged Property in an amount less than the then outstanding principal balance of such Mortgage Loan or
Serviced Whole Loan, which valuation results from a proceeding initiated under the Bankruptcy Code.

 

“Definitive
Certificate”: Any Certificate in definitive, fully registered form without interest coupons. Initially, the Class A-3A2
Certificates, the Class R Certificates and any Certificate issued pursuant to Sections 5.02(c) and (d)
shall be Definitive Certificates.

 

“Denomination”:
With respect to any Certificate or any beneficial interest in a Certificate the amount (i) (a) set forth on the face
thereof, (b) set forth on a schedule attached thereto or (c) in the case of any beneficial interest in a Book-Entry
Certificate, the interest of the related Certificate Owner in the applicable Class of Certificates as reflected on the books and
records of the Depository or related Depository Participant, as applicable, (ii) expressed in terms of initial Certificate
Balance or initial Notional Amount, as applicable, and (iii) in an authorized denomination, as set forth in Section 5.01(a).

 

“Depositor”:
J.P. Morgan Chase Commercial Mortgage Securities Corp., a Delaware corporation, or its successor in interest.

 

“Depository”:
DTC, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates
that are to be Book-Entry Certificates, is Cede & Co. The Depository shall at all times be a “clearing corporation”
as defined in Section 8-102(3) of the UCC of the State of New York and a “clearing agency” registered pursuant
to the provisions of Section 17A of the Exchange Act.

 

“Depository
Participant”: A broker, dealer, bank or other financial institution or other Person for whom from time to time the Depository
effects book-entry transfers and pledges of securities deposited with the Depository.

 

“Determination
Date”: With respect to any Distribution Date, 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).

 

“Direct
Sale Certificates”: $75,000,000 initial Certificate Balance of Class A-3A2 Certificates sold by the Depositor to JPMCB
on the Closing Date.

 

“Directing
Certificateholder”: The initial Directing Certificateholder shall be BlackRock Realty Advisors, Inc., on behalf of one
or more managed funds or accounts. Thereafter, the Directing Certificateholder shall be the Controlling Class Certificateholder
(or a representative thereof) selected by more than 50% of the Controlling Class Certificateholders, (by Certificate Balance,
as determined by the Certificate Registrar from time to time); provided, however, that (i) absent that selection,
or (ii) until a Directing Certificateholder is so selected or (iii) upon receipt of a notice from a majority of the
Controlling Class Certificateholders, by Certificate Balance, that a Directing Certificateholder is no longer designated, the
Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or a representative
thereof) will, subject to the terms of Section 3.28(b) hereof, be the

 

    	-35-

    	 

    

 

Directing
Certificateholder; provided, however, that, in the case of this clause (iii), in the event that no one Holder
owns the largest aggregate Certificate Balance of the Controlling Class, then there will be no Directing Certificateholder until
appointed in accordance with the terms of this Agreement. After the occurrence and during the continuance of a Control Event, the
Directing Certificateholder shall only retain its consultation rights to the extent specifically provided for herein. After the
occurrence of a Consultation Termination Event, there will be no Directing Certificateholder. The Depositor shall promptly provide
the name and contact information for the initial Directing Certificateholder upon request of any party to this Agreement and any
such requesting party may conclusively rely on the name and contact information provided by the Depositor. In the event the Controlling
Class Certificateholder has elected to irrevocably waive its right to appoint a Directing Certificateholder or to exercise any
of the rights of the Controlling Class Certificateholder, there will be no Directing Certificateholder and no party will be entitled
to exercise any of the rights of the Directing Certificateholder until such time as a Controlling Class Certificateholder is reinstated
pursuant to Section 3.28(l) hereof and a new Directing Certificateholder is appointed in accordance with the terms
hereof. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the Directing
Certificateholder has not changed until such parties receive written notice of a replacement of the Directing Certificateholder
from a party holding the requisite interest in the Controlling Class, or the resignation of the then-current Directing Certificateholder.

 

“Directly
Operate”: With respect to any REO Property (except with respect to a Non-Serviced Mortgaged Property), the furnishing
or rendering of services to the tenants thereof, that are not customarily provided to tenants in connection with the rental of
space “for occupancy only” within the meaning of Treasury Regulations Section 1.512(b)-1(c)(5), the management
or operation of such REO Property, the holding of such REO Property primarily for sale to customers, the use of such REO Property
in a trade or business conducted by the Trust Fund or on behalf of a Companion Holder or the performance of any construction work
on the REO Property (other than the completion of a building or improvement, where more than 10% of the construction of such building
or improvement was completed before default became imminent), other than through an Independent Contractor; provided, however,
that an REO Property shall not be considered to be Directly Operated solely because the Trustee (or the Special Servicer on behalf
of the Trustee) establishes rental terms, chooses tenants, enters into or renews leases, deals with taxes and insurance or makes
decisions as to repairs or capital expenditures with respect to such REO Property or takes other actions consistent with Treasury
Regulations Section 1.856-4(b)(5)(ii).

 

“Disclosable
Special Servicer Fees”: With respect to any Mortgage Loan or REO Property (other than any Non-Serviced Mortgage Loan
or related REO Property), any compensation and other remuneration (including, without limitation, in the form of commissions,
brokerage fees, or rebates, or as a result of any other fee-sharing arrangement) received or retained by the Special Servicer
or any of its Affiliates that is paid by any Person (including, without limitation, the Trust, any Mortgagor, any manager, any
guarantor or indemnitor in respect of a Mortgage Loan and any purchaser of any Mortgage Loan or REO Property) in connection with
the disposition, workout or foreclosure of any Mortgage Loan, the management or disposition of any REO Property, and the performance
by the Special Servicer or any such Affiliate of any other special servicing duties under this Agreement, other than (1) any
Permitted

 

    	-36-

    	 

    

 

Special
Servicer/Affiliate Fees and (2) any compensation to which the Special Servicer is expressly entitled pursuant to Section 3.11
of this Agreement.

 

“Disclosure
Parties”: As defined in Section 3.15(f).

 

“Disqualified
Organization”: Any of (i) the United States, any State or political subdivision thereof, any possession of the
United States or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if
all of its activities are subject to tax and, except for Freddie Mac, a majority of its board of directors is not selected by
such governmental unit), (ii) a foreign government, any international organization or any agency or instrumentality of any
of the foregoing, (iii) any organization (other than certain farmers’ cooperatives described in Section 521 of
the Code) which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of
the Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with
respect to the Class R Certificates (except certain farmers’ cooperatives described in Section 521 of the Code),
(iv) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, (v) an “electing
large partnership,” as defined in Section 775 of the Code and (vi) any other Person so designated by the Trustee
or the Certificate Administrator based upon an Opinion of Counsel as provided to the Trustee or the Certificate Administrator
(at no expense to the Trustee or the Certificate Administrator) that the holding of an Ownership Interest in a Class R Certificate
by such Person may cause any Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding or any
Person having an Ownership Interest in any Class of Certificates (other than such Person) to incur a liability for any federal
tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R
Certificate to such Person. The terms “United States,” “State” and “international organization”
shall have the meanings set forth in Section 7701 of the Code or successor provisions.

 

“Distributable
Certificate Interest”: With respect to any Distribution Date, as to any Class of Regular Certificates, the Accrued Certificate
Interest in respect of such Class of Regular Certificates for such Distribution Date, reduced (to not less than zero) by (i) any
allocations to such Class of Regular Certificates (other than the Class X Certificates) of the product of (a) any Net
Aggregate Prepayment Interest Shortfall for such Distribution Date, multiplied by (b) a fraction, expressed as a decimal,
the numerator of which is the Interest Distribution Amount (without regard to the allocation of Prepayment Interest Shortfalls
for such Distribution Date) in respect of such Class of Certificates for such Distribution Date, and the denominator of which
is the aggregate Interest Distribution Amount (without regard to the allocation of Prepayment Interest Shortfalls for such Distribution
Date) in respect of all the Classes of Regular Certificates (other than the Class X Certificates) for such Distribution Date
and (ii) any Certificate Deferred Interest for such Distribution Date allocated to such Class of Regular Certificates pursuant
to Section 4.06(a). With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for
purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable
Certificates and the Class EC Certificates, all amounts of Distributable Certificate Interest of each Class of Exchangeable
Certificates for any Distribution Date shall be determined without regard to any exchange and conversion of such Exchangeable
Certificates for Class EC Certificates; provided, however, that all amounts of Distributable Certificate Interest
that would otherwise be allocable

 

    	-37-

    	 

    

 

to
such converted Exchangeable Certificates shall be deemed allocable to such Class EC Certificates, without duplication.

 

“Distribution
Accounts”: Collectively, the Upper-Tier REMIC Distribution Account, the Class EC Distribution Account and the Lower-Tier
REMIC Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

 

“Distribution
Date”: The 4th Business Day following each Determination Date, beginning in July 2015. The initial Distribution Date
shall be July 17, 2015.

 

“Do
Not Hire List”: The list, as may be updated at any time, provided by the Depositor to the Master Servicer, Special Servicer,
the Certificate Administrator, Trustee or Senior Trust Advisor, which lists certain parties identified by the Depositor as having
failed to comply (after any applicable cure period) with their respective obligations under Article XI of this Agreement
or as having failed to comply (after any applicable cure period) with any similar Regulation AB reporting requirements under any
other securitization transaction. For the avoidance of doubt, as of the Closing Date no parties appear on the Do Not Hire List.

 

“DTC”:
The Depository Trust Company, a New York corporation.

 

“Due
Date”: With respect to (i) any Mortgage Loan or Companion Loan, as applicable, on or prior to its Maturity Date, the
day of the month set forth in the related Mortgage Note on which each Monthly Payment thereon is scheduled to be first due, (ii) any
Mortgage Loan or Companion Loan, as applicable, after the Maturity Date therefor, the day of the month set forth in the related
Mortgage Note on which each Monthly Payment on such Mortgage Loan or Companion Loan, as applicable, had been scheduled to be first
due, and (iii) any REO Loan, the day of the month set forth in the related Mortgage Note on which each Monthly Payment on
the related Mortgage Loan or Companion Loan had been scheduled to be first due.

 

“Due
Period”: With respect to any Distribution Date and any Mortgage Loan or Companion Loan, the period commencing on the
day immediately succeeding the Due Date for such Mortgage Loan or Companion Loan occurring in the month preceding the month in
which such Distribution Date occurs or the date that would have been the Due Date if such Mortgage Loan or Companion Loan had
a Due Date in such preceding month and ending on and including the Due Date for such Mortgage Loan or Companion Loan occurring
in the month in which such Distribution Date occurs. Notwithstanding the foregoing, in the event that the last day of a Due Period
(or applicable grace period) is not a Business Day, any Monthly Payments received with respect to the Mortgage Loans or Companion
Loan relating to such Due Period on the Business Day immediately following such day shall be deemed to have been received during
such Due Period and not during any other Due Period.

 

“EDGAR”:
As defined in Section 11.03.

 

“EDGAR-Compatible
Format”: Any format compatible with EDGAR, including HTML, Word or clean, searchable PDFs.

 

    	-38-

    	 

    

 

“Eligible
Account”: Any of the following: (i) a segregated account or accounts maintained with a federal or state chartered
depository institution or trust company (including the Trustee or the Certificate Administrator), (A) the long -term unsecured
debt obligations of which are rated at least “Aa3” by Moody’s, if the deposits are to be held in such account
for thirty (30) days or more, and the short-term debt obligations of which have a short-term rating of not less than “P-1”
from Moody’s, if the deposits are to be held in such account for less than thirty (30) days and (B) the long-term unsecured
debt obligations of which are rated at least “A+” by Fitch, if the deposits are to be held in such account for thirty
(30) days or more, and the short-term debt obligations of which have a short-term rating of not less than “F1” from
Fitch, if the deposits are to be held in such account for less than thirty (30) days; (ii) an account or accounts maintained
with Wells Fargo Bank, National Association so long as Wells Fargo Bank, National Association’s long-term unsecured debt
rating shall be at least “A2” from Moody’s and “A” from Fitch (if the deposits are to be held
in the account for more than thirty (30) days) or Wells Fargo Bank, National Association’s short-term deposit or short-term
unsecured debt rating shall be at least “P-1” from Moody’s and “F2” from Fitch (if the deposits
are to be held in the account for thirty (30) days or less); (iii) an account or accounts maintained with PNC Bank, National Association
so long as PNC Bank National Association’s long term unsecured debt or deposit account rating shall be at least “A2”
from Moody’s and “A” from Fitch (if the deposits are to be held in the account for more than thirty (30) days)
or PNC Bank National Association’s short-term deposit account or short-term unsecured debt rating shall be at least “P-1”
from Moody’s and “F1” from Fitch (if the deposits are to be held in the account for thirty (30) days or less)
(iv) such other account or accounts that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the
applicable clause, would be listed in clauses (i) – (iii) above, with respect to which a Rating Agency
Confirmation has been obtained from each Rating Agency for which the minimum ratings set forth in the applicable clause is not
satisfied with respect to such account, which account may be an account maintained by or with the Certificate Administrator, the
Trustee, the Master Servicer or the Special Servicer; (v) any other account or accounts not listed in clauses (i)
– (iii) above with respect to which a Rating Agency Confirmation has been obtained from each and every Rating
Agency and a confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.30), which account may be an account maintained by or with the Certificate Administrator,
the Trustee, the Master Servicer or the Special Servicer, or (vi) a segregated trust account or accounts maintained with
the corporate trust department of a federal or state chartered depository institution or trust company that has a long-term unsecured
debt rating of at least “A2” from Moody’s (if the deposits are to be held in the account for more than thirty
(30) days) or a short-term unsecured debt rating of at least “P-1” from Moody’s (if the deposits are to be held
in the account for thirty (30) days or less) and that, in either case, has corporate trust powers, acting in its fiduciary capacity,
provided that any state chartered depository institution or trust company is subject to regulation regarding fiduciary
funds substantially similar to 12 C.F.R. § 9.10(b). Eligible Accounts may bear interest. No Eligible Account shall be
evidenced by a certificate of deposit, passbook or other similar instrument.

 

    	-39-

    	 

    

 

“Environmental
Assessment”: An “environmental site assessment” as such term is defined in, and meeting the criteria of,
the American Society of Testing Materials Standard Section E 1527-00, or any successor thereto.

 

“Environmental
Indemnity Agreement”: With respect to any Mortgage Loan, any agreement between the Mortgagor (or a guarantor thereof)
and the originator of such Mortgage Loan relating to the Mortgagor’s obligation to remediate or monitor or indemnify for
any environmental problems relating to the related Mortgaged Property.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA
Restricted Certificate”: Any Certificate (other than a Class R Certificate) that does not meet the requirements
of Prohibited Transaction Exemption 2013-08 (as such exemption may be amended from time to time) as of the date of the acquisition
of such Certificate by a Plan. As of the Closing Date, each of Class E, Class F and Class NR Certificates is an
ERISA Restricted Certificate.

 

“Escrow
Payment”: Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application
toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the
related Mortgaged Property, including amounts for deposit to any reserve account.

 

“Euroclear”:
The Euroclear System or any successor thereto.

 

“Excess
Modification Fee Amount”: With respect to either the Master Servicer or the Special Servicer, any Corrected Mortgage
Loan and any particular modification, waiver, extension or amendment with respect to such Corrected Mortgage Loan that gives rise
to the payment of a Workout Fee, an amount equal to the aggregate of any Excess Modification Fees paid by or on behalf of the
related Mortgagor with respect to the related Mortgage Loan (including the related Serviced Companion Loan, if applicable, unless
prohibited under the related Intercreditor Agreement) and received and retained by the Master Servicer or the Special Servicer,
as applicable, as compensation within the prior twelve (12) months of such modification, waiver, extension or amendment,
but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee.

 

“Excess
Modification Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole
Loan, the sum of (A) the excess, if any, of (i) any and all Modification Fees with respect to a modification, waiver,
extension or amendment of any of the terms of such Mortgage Loan or Serviced Whole Loan, over (ii) all unpaid or unreimbursed
additional expenses (including, without limitation, reimbursement of Advances and interest on Advances to the extent not otherwise
paid or reimbursed by the Mortgagor but excluding Special Servicing Fees, Workout Fees and Liquidation Fees) outstanding or previously
incurred on behalf of the Trust with respect to the related Mortgage Loan or Serviced Whole Loan, as applicable, and reimbursed
from such Modification Fees and (B) expenses previously paid or reimbursed from Modification Fees as described in the preceding
clause (A), which expenses have been recovered from the related Mortgagor or otherwise. With respect to each of the
Master Servicer and the Special Servicer, the Excess Modification Fees collected and earned

 

    	-40-

    	 

    

 

by
such Person from the related Mortgagor (taken in the aggregate with any other Excess Modification Fees collected and earned by
such Person from the related Mortgagor within the prior twelve (12) months of the collection of the current Excess Modification
Fees) will be subject to a cap of 1.0% of the outstanding principal balance of the related Mortgage Loan or Serviced Whole Loan
on the closing date of the related modification, extension, waiver or amendment (after giving effect to such modification, extension,
waiver or amendment) with respect to any Mortgage Loan or Serviced Whole Loan.

 

“Exchange
Act”: The Securities Exchange Act of 1934, as amended from time to time and the rules and regulations of the Commission
thereunder.

 

“Exchange
Date”: As defined in Section 5.09(b).

 

“Exchange
Proportion”: With respect to Exchangeable Certificates and the Class EC Certificates, the following percentages
based on the initial Certificate Balances of the Classes (rather than the outstanding Certificate Balances):

 

	
        Exchange
        Proportion

	Class A-S:       39.39399535831470%	Class EC:         100.0000000000000%
	Class B:            33.33333333333330%	 
	Class C:           27.27267130835200%	 

  

“Exchangeable
Certificates”: The Class A-S, Class B and Class C Certificates.

 

“Extended
Cure Period”: As defined in Section 2.03(b).

 

“Fannie
Mae”: Federal National Mortgage Association or any successor thereto.

 

“FDIC”:
Federal Deposit Insurance Corporation or any successor thereto.

 

“Final
Asset Status Report”: With respect to any Specially Serviced Mortgage Loan, each related Asset Status Report, together
with such other data or supporting information provided by the Special Servicer to the Directing Certificateholder or holder of
an AB Subordinate Companion Loan, as applicable, in each case, which does not include any communication (other than the related
Asset Status Report) between the Special Servicer and Directing Certificateholder or holder of an AB Subordinate Companion
Loan with respect to such Specially Serviced Mortgage Loan; provided that, prior to a Control Event or an AB Control
Appraisal Period, as applicable, no Asset Status Report shall be considered to be a Final Asset Status Report unless the Directing
Certificateholder or holder of an AB Subordinate Companion Loan, as applicable, has either finally approved of and consented
to the actions proposed to be taken in connection therewith, or has exhausted all of its rights of approval and consent pursuant
to Section 3.21 in respect of such workout or liquidation, or has been deemed to have approved or consented to such
action or the Asset Status Report is otherwise implemented by the Special Servicer in accordance with this Agreement.

 

    	-41-

    	 

    

 

“Final
Recovery Determination”: A reasonable determination by the Special Servicer, in consultation with the Directing Certificateholder
if made prior to the occurrence of a Consultation Termination Event, with respect to any Defaulted Mortgage Loan (and, if applicable,
any defaulted Companion Loan) or Corrected Mortgage Loan or REO Property (other than a Mortgage Loan or REO Property, as the case
may be, that was purchased by (i) any of the Mortgage Loan Sellers pursuant to Section 6 of the applicable Mortgage
Loan Purchase Agreement, (ii) the Special Servicer or other person pursuant to Section 3.18(b), any Companion
Holder or any mezzanine lender pursuant to Section 3.18 or (iii) the Master Servicer, Special Servicer, the Holders
of the Controlling Class, or the Holders of the Class R Certificates pursuant to Section 9.01) that there has
been a recovery of all Insurance and Condemnation Proceeds, Liquidation Proceeds, REO Revenue and other payments or recoveries
that, in the Special Servicer’s judgment, which judgment was exercised without regard to any obligation of the Special Servicer
to make payments from its own funds pursuant to Section 3.07(b), will ultimately be recoverable. Prior to the occurrence
and continuance of any Control Event, the Directing Certificateholder shall have ten (10) Business Days to review and approve
each such recovery determination by the Special Servicer; provided, however, that if the Directing Certificateholder
fails to approve or disapprove any recovery determination within ten (10) Business Days of receipt of the initial recovery
determination, such consent shall be deemed given.

 

“Fitch”:
Fitch Ratings, Inc., and its successors in interest. If neither Fitch nor any successor remains in existence, “Fitch”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator, the Master Servicer,
the Directing Certificateholder and the Special Servicer, and specific ratings of Fitch herein referenced shall be deemed to refer
to the equivalent ratings of the party so designated.

 

“Form
8-K Disclosure Information”: As defined in Section 11.07.

 

“Freddie
Mac”: Federal Home Loan Mortgage Corporation or any successor thereto.

 

“Gain-on-Sale
Proceeds”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan), the excess of (i) Liquidation
Proceeds net of any related Liquidation Expenses (or the portion of such net Liquidation Proceeds payable to the related Mortgage
Loan pursuant to the related Intercreditor Agreement) over (ii) the Purchase Price for such Mortgage Loan on the date on
which such Liquidation Proceeds were received.

 

“Gain-on-Sale
Reserve Account”: A custodial account or accounts (or subaccount of the Distribution Account) created and maintained
by the Certificate Administrator, pursuant to Section 3.04(e) on behalf of the Trustee for the benefit of the Certificateholders,
which shall initially be entitled “Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit
of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of JPMBB Commercial Mortgage
Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Gain-on-Sale Reserve

 

    	-42-

    	 

    

 

Account.”
Any such account shall be an Eligible Account or a subaccount of an Eligible Account.

 

“Grantor
Trust”: A segregated asset pool within the Trust Fund treated as a “grantor trust” under subpart E,
part I of subchapter J of the Code, consisting of the Exchangeable Certificates that have been exchanged and converted
to the Class EC Certificates and the Class EC Distribution Account, beneficial ownership of which is represented by
the Class EC Certificates as further described in Section 5.09.

 

“Ground
Lease”: The ground lease pursuant to which any Mortgagor holds a leasehold interest in the related Mortgaged Property
and any estoppels or other agreements executed and delivered by the ground lessor in favor of the lender under the Mortgage Loan.

 

“Hazardous
Materials”: Any dangerous, toxic or hazardous pollutants, chemicals, wastes or substances, including, without limitation,
those so identified pursuant to CERCLA or any other federal, state or local environmental related laws and regulations, 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.

 

“Horizon
Outlet Shoppes Portfolio Intercreditor Agreement”: That certain Co-Lender Agreement, dated as of April 2, 2015, by and
between the holder of the Horizon Outlet Shoppes Portfolio Pari Passu Companion Loan and the holder of the Horizon Outlet Shoppes
Portfolio Mortgage Loan, relating to the relative rights of such holders of the Horizon Outlet Shoppes Portfolio Whole Loan, as
the same may be further amended in accordance with the terms thereof.

 

“Horizon
Outlet Shoppes Portfolio Mortgage Loan”: With respect to the Horizon Outlet Shoppes Portfolio Whole Loan, the Mortgage
Loan that is included in the Trust (identified as Mortgage Loan No. 10 on the Mortgage Loan Schedule), which is designated as
promissory note A-2, and is pari passu in right of payment with the Horizon Outlet Shoppes Portfolio Pari Passu Companion
Loan to the extent set forth in the Horizon Outlet Shoppes Portfolio Intercreditor Agreement.

 

“Horizon
Outlet Shoppes Portfolio Mortgaged Property”: The Mortgaged Property which secures the Horizon Outlet Shoppes Portfolio
Whole Loan.

 

“Horizon
Outlet Shoppes Portfolio Pari Passu Companion Loan”: With respect to the Horizon Outlet Shoppes Portfolio Whole Loan,
the Companion Loan evidenced by the related promissory note made by the related Mortgagor and secured by the Mortgage on the Horizon
Outlet Shoppes Portfolio Mortgaged Property, which is not included in the Trust and which is pari passu in right of payment
to the Horizon Outlet Shoppes Portfolio Mortgage Loan to the extent set forth in the related Mortgage Loan documents and as provided
in the Horizon Outlet Shoppes Portfolio Intercreditor Agreement.

 

“Horizon
Outlet Shoppes Portfolio Whole Loan”: The Horizon Outlet Shoppes Portfolio Mortgage Loan, together with the Horizon
Outlet Shoppes Portfolio Pari Passu

 

    	-43-

    	 

    

 

Companion
Loan, each of which is secured by the same Mortgage on the Horizon Outlet Shoppes Portfolio Mortgaged Property. References herein
to the Horizon Outlet Shoppes Portfolio Whole Loan shall be construed to refer to the aggregate indebtedness under the Horizon
Outlet Shoppes Portfolio Mortgage Loan and the Horizon Outlet Shoppes Portfolio Pari Passu Companion Loan.

 

“Independent”:
When used with respect to any accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of
the Commission’s Regulation S-X. When used with respect to any specified Person, any such Person who (i) is in
fact independent of the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, the Special Servicer, the
Directing Certificateholder, the Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone or together
with one or more other Mortgage Loans)), the Senior Trust Advisor and all Affiliates thereof, (ii) does not have any material
direct financial interest in or any material indirect financial interest in any of the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the Special Servicer, the Directing Certificateholder, the Companion Holders (insofar as the
relevant matter involves a Whole Loan (whether alone or together with one or more other Mortgage Loans)), the Senior Trust Advisor
or any Affiliate thereof and (iii) is not connected with the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the Special Servicer, the Directing Certificateholder, the Companion Holders (insofar as the relevant matter involves
a Whole Loan (whether alone or together with one or more other Mortgage Loans)), the Senior Trust Advisor or any Affiliate thereof
as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions; provided,
however, that a Person shall not fail to be Independent of the Trustee, the Certificate Administrator, the Depositor, the
Master Servicer, the Special Servicer, the Directing Certificateholder, the Companion Holders, the Senior Trust Advisor or any
Affiliate thereof merely because such Person is the beneficial owner of 1% or less of any Class of securities issued by the Trustee,
the Certificate Administrator, the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Directing
Certificateholder, the Companion Holders or any Affiliate thereof, as the case may be, provided such ownership constitutes
less than 1% of the total assets of such Person.

 

“Independent
Contractor”: Either (i) any Person that would be an “independent contractor” with respect to the Trust
within the meaning of Section 856(d)(3) of the Code if the Trust were a real estate investment trust (except that the ownership
test set forth in that Section shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any
Class of Certificates, or such other interest in any Class of Certificates as is set forth in an Opinion of Counsel, which shall
be at no expense to the Trustee, the Certificate Administrator, the Master Servicer, any Companion Holder or the Trust, delivered
to the Trustee, any Companion Holder, the Certificate Administrator and the Master Servicer), so long as the Trust does not receive
or derive any income from such Person and provided that the relationship between such Person and the Trust is at arm’s
length, all within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except that the Master Servicer or the Special
Servicer shall not be considered to be an Independent Contractor under the definition in this clause (i) unless
an Opinion of Counsel has been delivered to the Trustee and the Certificate Administrator to that effect) or (ii) any other
Person (including the Master Servicer and the Special Servicer) upon receipt by the Trustee, the Certificate Administrator, the
Senior Trust Advisor and the Master Servicer of an Opinion of Counsel, which shall be at no expense to the Trustee, the Certificate

 

    	-44-

    	 

    

 

Administrator,
the Master Servicer, the Senior Trust Advisor or the Trust Fund, to the effect that the taking of any action in respect of any
REO Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated to be taken by
an Independent Contractor will not cause such REO Property to cease to qualify as “foreclosure property” within the
meaning of Section 860G(a)(8) of the Code or cause any income realized in respect of such REO Property to fail to qualify
as Rents from Real Property.

 

“Initial
Cure Period”: As defined in Section 2.03(b).

 

“Initial
Notice”: As defined in Section 3.28(b).

 

“Initial
Purchasers”: J.P. Morgan Securities LLC and Barclays Capital Inc.

 

“Initial
Sub-Servicer”: With respect to each Mortgage Loan that is subject to a Sub-Servicing Agreement with the Master Servicer
as of the Closing Date, the Sub-Servicer under any such Sub-Servicing Agreement. As of the Closing Date, each entity listed on
Exhibit FF is an Initial Sub-Servicer.

 

“Initial
Sub-Servicing Agreement”: Any Sub-Servicing Agreement in effect as of the Closing Date.

 

“Inquiry”
and “Inquiries”: As each is defined in Section 4.08(a).

 

“Institutional
Accredited Investor”: An institutional investor which is an “accredited investor” within the meaning of
paragraphs (1), (2), (3) or (7) of Rule 501(a) of Regulation D under the Act or any entity in which all of the equity owners
come within such paragraphs.

 

“Insurance
and Condemnation Proceeds”: All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation
of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged
Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard
(and in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received by
the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth
in the related Intercreditor Agreement) and the REMIC Provisions.

 

“Insurance
Policy”: With respect to any Mortgage Loan, any hazard insurance policy, flood insurance policy, title policy or other
insurance policy that is maintained from time to time in respect of such Mortgage Loan or the related Mortgaged Property.

 

“Intercreditor
Agreement”: Each of the One City Centre Intercreditor Agreement, the JAGR Portfolio Intercreditor Agreement, the Horizon
Outlet Shoppes Portfolio Intercreditor Agreement, the Marriott-Pittsburgh Intercreditor Agreement and any AB Intercreditor Agreement
and any intercreditor agreement entered into in connection with the issuance to the direct or indirect equity holders in the Mortgagor
of any existing mezzanine indebtedness or any future mezzanine indebtedness permitted under the related Mortgage Loan documents.

 

    	-45-

    	 

    

 

“Interest
Accrual Period”: With respect to any Class of Regular Certificates or the Uncertificated Lower-Tier Interests and any
Distribution Date, the period beginning on the first day of the calendar month preceding the calendar month in which the related
Distribution Date occurs and ending on the last day of the calendar month preceding the calendar month in which such Distribution
Date occurs, and calculated assuming that each month has thirty (30) days and each year has three hundred-sixty (360) days.

 

“Interest
Distribution Amount”: With respect to any Class of Regular Certificates for any Distribution Date, an amount equal to
the sum of (a) the Distributable Certificate Interest and the Class Unpaid Interest Shortfall with respect to such Class
of Certificates for such Distribution Date, and (b) any Accrued Interest From Recoveries allocated to such Class of Certificates
to the extent not previously paid for all prior Distribution Dates. With respect to each Class of Exchangeable Certificates and
the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of
this Agreement as between the Exchangeable Certificates and the Class EC Certificates, all Interest Distribution Amounts
of each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange and conversion
of such Exchangeable Certificates for Class EC Certificates; provided, however, that all Interest Distribution
Amounts that would otherwise be allocable to Exchangeable Certificates that have been exchanged and converted to Class EC
Certificates shall be deemed allocable to and shall be distributable to such Class EC Certificates, without duplication.

 

“Interest
Reserve Account”: The trust account or subaccount of the Distribution Account created and maintained by the Certificate
Administrator pursuant to Section 3.04(b) initially in the name of “Wells Fargo Bank, National Association,
as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the registered
holders of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29,
Interest Reserve Account”, into which the amounts set forth in Section 3.25 shall be deposited directly and
which must be an Eligible Account or subaccount of an Eligible Account.

 

“Interest
Reserve Loan”: Each Actual/360 Mortgage Loan.

 

“Interested
Person”: As of the date of any determination, the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Senior Trust Advisor, any Independent Contractor engaged by the Special Servicer, each Companion
Holder (but only with respect to the related Serviced Whole Loan), a holder of a related mezzanine loan (but only with respect
to the related Mortgage Loan), any Mortgagor under the related Mortgage Loan documents, any related property manager or any known
Affiliate of any such Person.

 

“Investment
Account”: As defined in Section 3.06(a).

 

“Investment
Representation Letter”: As defined in Section 5.03(e), a form of which is attached hereto as Exhibit C.

 

“Investor-Based
Exemption”: Any of PTCE 84-14 (for transactions by independent “qualified professional asset managers”),
PTCE 91-38 (for transactions by bank

 

    	-46-

    	 

    

 

collective
investment funds), PTCE 90-1 (for transactions by insurance company pooled separate accounts), PTCE 95-60 (for transactions by
insurance company general accounts) or PTCE 96-23 (for transactions effected by “in-house asset managers”) or a similar
exemption under Similar Law.

 

“Investor
Certification”: A certificate, substantially in the form included hereto as Exhibit P-1, representing (i) that
such Person executing the certificate is a Certificateholder, the Directing Certificateholder (to the extent such Person is not
a Certificateholder), a beneficial owner of a Certificate, a prospective purchaser of a Certificate or a Companion Holder (or
any investment advisor or manager or other representative of the foregoing), (ii) that such Person is not a Mortgagor, a
manager of a Mortgaged Property, an Affiliate of any of the foregoing or an agent, principal, partner, member, joint venturer,
limited partner, employee, representative, director, trustee, advisor of or investor in or of any of the foregoing or a mezzanine
lender who has commenced foreclosure proceedings, (iii) except in the case of a Companion Holder or its representative, that
such Person has received a copy of the final Prospectus Supplement and the Prospectus and (iv) such Person agrees to keep any
information that such Person has had access to on the Certificate Administrator’s Website confidential and will not violate
any securities laws.

 

“Investor
Q&A Forum”: As defined in Section 4.08(a).

 

“Investor
Registry”: As defined in Section 4.08(b).

 

“JAGR
Portfolio Intercreditor Agreement”: That certain Co-Lender Agreement, dated as of June 30, 2015, by and between the
holder of the JAGR Portfolio Pari Passu Companion Loan and the holder of the JAGR Portfolio Mortgage Loan, relating to the relative
rights of such holders of the JAGR Portfolio Whole Loan, as the same may be further amended in accordance with the terms thereof.

 

“JAGR
Portfolio Mortgage Loan”: With respect to the JAGR Portfolio Whole Loan, the Mortgage Loan that is included in the Trust
(identified as Mortgage Loan No. 8 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is pari passu
in right of payment with the JAGR Portfolio Pari Passu Companion Loan to the extent set forth in the JAGR Portfolio Intercreditor
Agreement.

 

“JAGR
Portfolio Mortgaged Property”: The Mortgaged Property which secures the JAGR Portfolio Whole Loan.

 

“JAGR
Portfolio Pari Passu Companion Loan”: With respect to the JAGR Portfolio Whole Loan, the Companion Loan evidenced by
the related promissory note made by the related Mortgagor and secured by the Mortgage on the JAGR Portfolio Mortgaged Property,
which is not included in the Trust and which is pari passu in right of payment to the JAGR Portfolio Mortgage Loan to the extent
set forth in the related Mortgage Loan documents and as provided in the JAGR Portfolio Intercreditor Agreement.

 

“JAGR
Portfolio Whole Loan”: The JAGR Portfolio Mortgage Loan, together with the JAGR Portfolio Pari Passu Companion Loan,
each of which is secured by the same Mortgage on the JAGR Portfolio Mortgaged Property. References herein to the JAGR Portfolio

 

    	-47-

    	 

    

 

Whole
Loan shall be construed to refer to the aggregate indebtedness under the JAGR Portfolio Mortgage Loan and the JAGR Portfolio Pari
Passu Companion Loan.

 

“JPMBB
Commercial Mortgage Securities Trust 2015-C28 Pooling and Servicing Agreement”: The pooling and servicing agreement,
dated as of April 1, 2015, among the Depositor, as depositor, Wells Fargo Bank, National Association, as master servicer, Torchlight
Loan Services, LLC, as special servicer, Wells Fargo Bank, National Association, as certificate administrator, Wilmington Trust,
National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor, as from time to time amended, supplemented
or modified relating to the issuance of the JPMBB Commercial Mortgage Securities Trust 2015-C28, Commercial Mortgage Pass-Through
Certificates, Series 2015-C28.

 

“KBRA”:
Kroll Bond Rating Agency, Inc., and its successors in interest. If neither KBRA nor any successor remains in existence, “KBRA”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator, the Master Servicer,
the Directing Certificateholder and the Special Servicer and specific ratings of KBRA herein referenced shall be deemed to refer
to the equivalent ratings of the party so designated.

 

“Late
Collections”: With respect to any Mortgage Loan, Whole Loan or Companion Loan, all amounts received thereon prior to
the related Determination Date, whether as payments, Insurance and Condemnation Proceeds, Liquidation Proceeds or otherwise, which
represent late payments or collections of principal or interest due in respect of such Mortgage Loan, Whole Loan or Companion
Loan, as applicable (without regard to any acceleration of amounts due thereunder by reason of default), on a Due Date prior to
the immediately preceding Determination Date and not previously recovered. With respect to any REO Loan, all amounts received
in connection with the related REO Property prior to the related Determination Date, whether as Insurance and Condemnation Proceeds,
Liquidation Proceeds, REO Revenues or otherwise, which represent late collections of principal or interest due or deemed due in
respect of such REO Loan or the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable (without regard to any
acceleration of amounts due under the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable, by reason of default),
on a Due Date prior to the immediately preceding Determination Date and not previously recovered. The term “Late Collections”
shall specifically exclude Penalty Charges. With respect to any Whole Loan, as used in this Agreement, Late Collections shall
refer to such portion of Late Collections to the extent allocable to the related Mortgage Loan or related Companion Loan, as applicable,
pursuant to the terms of the related Intercreditor Agreement.

 

“Liquidation
Event”: With respect to any Mortgage Loan or with respect to any REO Property (and the related REO Loan), any of the
following events: (i) such Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made with respect to
such Mortgage Loan; (iii) such Mortgage Loan is repurchased by the applicable Mortgage Loan Seller pursuant to Section 6
of the related Mortgage Loan Purchase Agreement; (iv) such Mortgage Loan is purchased by the Special Servicer, or by any
Companion Holder or any mezzanine lender (as applicable) pursuant to Section 3.18 (and the related Intercreditor Agreement,
as applicable); (v) such Mortgage Loan is purchased by the Special Servicer, the Master Servicer, the Holders of

 

    	-48-

    	 

    

 

the
majority of the Controlling Class or the Holders of the Class R Certificates pursuant to Section 9.01 or acquired
by the Sole Certificateholder in exchange for its Certificates pursuant to Section 9.01; or (vi) such Mortgage
Loan is sold by the Special Servicer pursuant to the terms of this Agreement.

 

“Liquidation
Expenses”: All customary, reasonable and necessary “out of pocket” costs and expenses incurred by the Special
Servicer in connection with a liquidation of any Specially Serviced Mortgage Loan or REO Property (except with respect to a Non-Serviced
Mortgaged Property) pursuant to Section 3.18 (including, without limitation, legal fees and expenses, committee or
referee fees and, if applicable, brokerage commissions and conveyance taxes).

 

“Liquidation
Fee”: A fee payable to the Special Servicer with respect to each Specially Serviced Mortgage Loan or REO Property (except
with respect to a Non-Serviced Mortgaged Property) as to which the Special Servicer receives (i) a full, partial or discounted
payoff with respect thereto from the related Mortgagor or (ii) any Liquidation Proceeds or Insurance and Condemnation Proceeds
with respect to the related Mortgage Loan (including the related Serviced Companion Loan, if applicable), or REO Property (in
any case, other than amounts for which a Workout Fee has been paid, or will be payable), equal to the product of the Liquidation
Fee Rate and the proceeds of such full, partial or discounted payoff or other partial payment or the Liquidation Proceeds or Insurance
and Condemnation Proceeds (net of the related costs and expenses associated with the related liquidation) related to such liquidated
Specially Serviced Mortgage Loan or REO Property, as the case may be; provided, however, that no Liquidation Fee
shall be payable with respect to (a) the purchase of any Specially Serviced Mortgage Loan by the Special Servicer or any
Affiliate thereof (except if such Affiliate purchaser is the Directing Certificateholder or any Affiliate thereof; provided,
however, that prior to a Control Event, if the Directing Certificateholder or an Affiliate thereof, purchases any Specially
Serviced Mortgage Loan within ninety (90) days after the Special Servicer delivers to the Directing Certificateholder for its
approval the initial Asset Status Report with respect to such Specially Serviced Mortgage Loan, the Special Servicer will not
be entitled to a Liquidation Fee in connection with such purchase by the Directing Certificateholder or its Affiliates), (b) any
event described in clause (iv) of the definition of “Liquidation Proceeds” (or any substitution in lieu
of a repurchase) so long as such repurchase or substitution occurs prior to the termination of the Extended Cure Period, (c) any
event described in clause (v) and clause (vi) of the definition of “Liquidation Proceeds”,
as long as, with respect to a purchase pursuant to clause (vi) of the definition of “Liquidation Proceeds”,
a purchase occurs within ninety (90) days of such holder’s purchase option first becoming exercisable during that period
prior to such Mortgage Loan becoming a Corrected Mortgage Loan pursuant to the related Intercreditor Agreement, (d) with respect
to a Serviced Companion Loan, (x) a repurchase of such Serviced Companion Loan by the applicable Mortgage Loan Seller for
a breach of a representation or warranty or for a defective or deficient mortgage loan documentation under an Other Pooling and
Servicing Agreement within the time period (or extension thereof) provided for such repurchase of such repurchase occurs prior
to the termination of the extended resolution period provided therein or (y) a purchase of such Serviced Companion Loan by
any applicable party to the Other Pooling and Servicing Agreement pursuant to a clean-up call or similar liquidation of the Other
Securitization; or (e) if a Mortgage Loan or Serviced Whole Loan becomes a Specially Serviced Mortgage Loan solely because of
a Servicing Transfer Event described in clause (i) or (ii) of the

 

    	-49-

    	 

    

 

definition
of “Servicing Transfer Event”, Liquidation Proceeds are received within ninety (90) days following the related Maturity
Date as a result of such Mortgage Loan or Serviced Whole Loan being refinanced or otherwise repaid in full (but, in the event
that a Liquidation Fee is not payable due to the application of any of clauses (a) through (e) above, the Special
Servicer may still collect and retain a Liquidation Fee and similar fees from the related Mortgagor to the extent provided for
in, or not prohibited by, the related loan documents); provided that the Liquidation Fee with respect to any Specially
Serviced Mortgage Loan will be reduced by the amount of any Excess Modification Fees paid by or on behalf of the related Mortgagor
with respect to the related Mortgage Loan and any related Companion Loan or REO Property and received by the Special Servicer
as compensation within the prior twelve (12) months, but only to the extent those fees have not previously been deducted from
a Workout Fee or Liquidation Fee; provided, however, that no Liquidation Fee will be less than $25,000.

 

“Liquidation
Fee Rate”: A rate equal to 1.00% with respect to any Specially Serviced Mortgage Loan (and each related Serviced Companion
Loan) and REO Property.

 

“Liquidation
Proceeds”: Cash amounts received by or paid to the Master Servicer or the Special Servicer in connection with: (i) the
liquidation (including a payment in full) of a Mortgaged Property or other collateral constituting security for a Defaulted Mortgage
Loan or defaulted Companion Loan, if applicable, through a trustee’s sale, foreclosure sale, REO Disposition or otherwise,
exclusive of any portion thereof required to be released to the related Mortgagor in accordance with applicable law and the terms
and conditions of the related Mortgage Note and Mortgage; (ii) the realization upon any deficiency judgment obtained against
a Mortgagor; (iii) any sale of (A) a Specially Serviced Mortgage Loan pursuant to Section 3.18(a) or (B) any
REO Property pursuant to Section 3.18(b); (iv) the repurchase of a Mortgage Loan by the applicable Mortgage Loan
Seller pursuant to Section 6 of the related Mortgage Loan Purchase Agreement; (v) the purchase of a Mortgage Loan or
REO Property by the Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders
of the Class R Certificates pursuant to Section 9.01; or (vi) the purchase of a Mortgage Loan or an REO
Property by (a) the applicable AB Subordinate Companion Holder or (b) the related mezzanine lender pursuant to Section 3.18
and the related Intercreditor Agreement. With respect to any Whole Loan, as used in this Agreement, Liquidation Proceeds shall
refer to such portion of Liquidation Proceeds to the extent allocable to the related Mortgage Loan or related Companion Loan,
as applicable, pursuant to the terms of the related Intercreditor Agreement.

 

“Lower-Tier
Distribution Amount”: As defined in Section 4.01(b).

 

“Lower-Tier
Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interests, (i) on or prior to the first
Distribution Date, an amount equal to the Original Lower-Tier Principal Amount of such Class as specified in the Preliminary Statement
hereto, and (ii) as of any date of determination after the first Distribution Date, an amount equal to the Certificate Balance
of the Class of Related Certificates on the Distribution Date immediately prior to such date of determination (determined as adjusted
pursuant to Section 1.02(iii)), and as set forth in Section 4.01(b)).

 

    	-50-

    	 

    

 

“Lower-Tier
REMIC”: One of two separate REMICs comprising a portion of the Trust Fund, the assets of which consist of the Mortgage
Loans and the proceeds thereof, any REO Property with respect thereto (or an allocable portion thereof, in the case of any Serviced
Mortgage Loan), or the Trust Fund’s beneficial interest in the REO Property with respect to a Non-Serviced Whole Loan, such
amounts as shall from time to time be held in the Certificate Account (other than with respect to any Companion Loan), the related
portion of the REO Account, if any, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the Lower-Tier REMIC Distribution
Account and all other properties included in the Trust Fund that are not in the other Trust REMICs or the Grantor Trust.

 

“Lower-Tier
REMIC Distribution Account”: The segregated account, accounts or sub-accounts created and maintained by the Certificate
Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for the Certificateholders, which shall
initially be entitled “Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit of Wilmington
Trust, National Association, as Trustee, for the benefit of the registered holders of JPMBB Commercial Mortgage Securities Trust
2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Lower-Tier REMIC Distribution Account”. Any
such account, accounts or sub-accounts shall be an Eligible Account.

 

“LTV
Ratio”: With respect to any Mortgage Loan, as of any date of determination, a fraction, expressed as a percentage, the
numerator of which is the scheduled principal balance of such Mortgage Loan, as of such date (assuming no defaults or prepayments
on such Mortgage Loan prior to that date), and the denominator of which is the Appraised Value of the related Mortgaged Property.

 

“MAI”:
Member of the Appraisal Institute.

 

“Major
Decision”: As defined in Section 6.07(a).

 

“Marriott-Pittsburgh
Intercreditor Agreement”: That certain Co-Lender Agreement, dated as of June 30, 2015, by and between the holder of
the Marriott-Pittsburgh Pari Passu Companion Loan and the holder of the Marriott-Pittsburgh Mortgage Loan, relating to the relative
rights of such holders of the Marriott-Pittsburgh Whole Loan, as the same may be further amended in accordance with the terms
thereof.

 

“Marriott-Pittsburgh
Mortgage Loan”: With respect to the Marriott-Pittsburgh Whole Loan, the Mortgage Loan that is included in the Trust
(identified as Mortgage Loan No. 12 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is pari passu
in right of payment with the Marriott-Pittsburgh Pari Passu Companion Loan to the extent set forth in the Marriott-Pittsburgh
Intercreditor Agreement.

 

“Marriott-Pittsburgh
Mortgaged Property”: The Mortgaged Property which secures the Marriott-Pittsburgh Whole Loan.

 

“Marriott-Pittsburgh
Pari Passu Companion Loan”: With respect to the Marriott-Pittsburgh Whole Loan, the Companion Loan evidenced by the
related promissory note made by the related Mortgagor and secured by the Mortgage on the Marriott-Pittsburgh Mortgaged Property,
which is not included in the Trust and which is pari passu in right of payment to the

 

    	-51-

    	 

    
 

Marriott-Pittsburgh
Mortgage Loan to the extent set forth in the related Mortgage Loan documents and as provided in the Marriott-Pittsburgh Intercreditor
Agreement.

 

“Marriott-Pittsburgh
Whole Loan”: The Marriott-Pittsburgh Mortgage Loan, together with the Marriott-Pittsburgh Pari Passu Companion Loan,
each of which is secured by the same Mortgage on the Marriott-Pittsburgh Mortgaged Property. References herein to the Marriott-Pittsburgh
Whole Loan shall be construed to refer to the aggregate indebtedness under the Marriott-Pittsburgh Mortgage Loan and the Marriott-Pittsburgh
Pari Passu Companion Loan.

 

“Master
Servicer”: With respect to each of the Mortgage Loans, Wells Fargo Bank, National Association, and its successors in
interest and assigns, or any successor appointed as allowed herein.

 

“Master
Servicer Remittance Date”: The Business Day immediately preceding each Distribution Date.

 

“Maturity
Date”: With respect to any Mortgage Loan, Whole Loan or Companion Loan, as of any date of determination, the date on
which the last payment of principal is due and payable under the related Mortgage Note, after taking into account all Principal
Prepayments received prior to such date of determination, but without giving effect to (i) any acceleration of the principal
of such Mortgage Loan, Whole Loan or Companion Loan by reason of default thereunder or (ii) any grace period permitted by
the related Mortgage Note.

 

“Merger
Notice”: As defined in Section 6.02(b).

 

“Modification
Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan, any and
all fees with respect to a modification, extension, waiver or amendment that modifies, extends, amends or waives any term of the
Mortgage Loan documents and/or related Companion Loan documents (as evidenced by a signed writing) agreed to by the Master Servicer
or the Special Servicer, as applicable (other than all assumption fees, assumption application fees, consent fees, defeasance
fees, Special Servicing Fees, Liquidation Fees or Workout Fees).

 

“Monthly
Payment”: With respect to any Mortgage Loan or the related Companion Loan, the scheduled monthly payment of principal
and/or interest on such Mortgage Loan or Companion Loan, including any Balloon Payment, which is payable (as the terms of the
applicable Mortgage Loan or Companion Loan may be changed or modified in connection with a bankruptcy or similar proceedings involving
the related Mortgagor or by reason of a modification, extension, waiver or amendment granted or agreed to pursuant to the terms
hereof) by a Mortgagor from time to time under the related Mortgage Note and applicable law, without regard to any acceleration
of principal of such Mortgage Loan or Companion Loan by reason of default thereunder.

 

“Moody’s”:
Moody’s Investors Service, Inc., and its successors in interest. If neither Moody’s nor any successor remains in existence,
“Moody’s” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable
Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator,
the Master Servicer, the Directing Certificateholder and the Special

 

    	-52-

    	 

    
 

Servicer,
and specific ratings of Moody’s herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Morningstar”:
Morningstar Credit Ratings, LLC, and its successors in interest. If neither Morningstar nor any successor remains in existence,
“Morningstar” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable
Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator,
the Master Servicer, the Directing Certificateholder and the Special Servicer, and specific ratings of Morningstar herein referenced
shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Mortgage”:
With respect to any Mortgage Loan or Companion Loan, the mortgage(s), deed(s) of trust or other instrument(s) securing the related
Mortgage Note and creating a first mortgage lien on the fee and/or leasehold interest in the related Mortgaged Property.

 

“Mortgage
Deferred Interest”: With respect to any Mortgage Loan as of any Due Date that has been modified to (i) reduce the
rate at which interest is paid currently below the Mortgage Rate and (ii) capitalize the amount of such interest reduction,
the excess, if any, of (a) interest accrued on the Stated Principal Balance of the related Mortgage Loan during the one-month
interest accrual period set forth in the related Mortgage Note at the related Mortgage Rate over (b) the interest portion
of the related Monthly Payment, as so modified or reduced, or, if applicable, the interest portion of the Assumed Scheduled Payment
due on such Due Date. For the avoidance of doubt, with respect to any Whole Loan, any Mortgage Deferred Interest will be determined
after giving effect to the application of the terms of the related Intercreditor Agreement and any applicable waterfall provisions
allocating distributions between the Mortgage Loan and the related Companion Loan.

 

“Mortgage
File”: With respect to each Mortgage Loan or Companion Loan, if applicable, but subject to Section 2.01,
collectively the following documents:

 

(i)          the
original executed Mortgage Note bearing, or accompanied by, all prior and intervening endorsements, assignments or allonges showing
a complete chain of endorsement or assignment from the originator of the related Mortgage Loan to the most recent endorsee, and
further endorsed (at the direction of the Depositor given pursuant to the applicable Mortgage Loan Purchase Agreement), on its
face or by allonge attached thereto, without recourse, representation or warranty, express or implied to the order of the Trustee
in the following form: “Pay to the order of Wilmington Trust, National Association, as trustee for the benefit of the registered
holders of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29”
or in blank; provided that the requirements of this clause (i) will be satisfied by delivery of a signed lost
note affidavit and indemnity properly assigned or endorsed to the Trustee as described above, with a copy of the Mortgage Note
attached to it;

 

    	-53-

    	 

    
 

(ii)         the
original Mortgage (or a copy thereof certified from the applicable recording office) and originals (or copies thereof certified
from the applicable recording office) of any intervening assignments thereof showing a complete chain of assignment from the originator
of the related Mortgage Loan or to the most recent mortgagee of record, in each case with evidence of recording indicated thereon
(except for recording information not yet available if the Mortgage or an assignment thereof has not been returned from the applicable
recording office);

 

(iii)        an
original Assignment of Mortgage, in complete and recordable form (except for the name of the assignee, if delivered in blank,
and except for recording information not yet available, if the Mortgage or an assignment thereof has not been returned from the
applicable recording office), executed by the most recent assignee of record thereof prior to the Trustee, or if none, by the
originator to “Wilmington Trust, National Association”, as trustee for the benefit of the registered holders of JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29” or in
blank and, in the case of any Serviced Whole Loan, in its capacity as “Lead Securitization Note Holder” or similar
capacity under the related Intercreditor Agreement on behalf of the related Serviced Companion Noteholders;

 

(iv)        an
original or copy of any related Assignment of Leases (if such item is a document separate from the Mortgage) and the originals
or copies of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage
Loan to the most recent assignee of record, in each case with evidence of recording thereon (except for recording information
not yet available, if the Assignment of Leases or an assignment thereof has not been returned from the applicable recording office);

 

(v)         an
original assignment of any related Assignment of Leases (if such item is a document separate from the Mortgage and to the extent
not already assigned as part of the Assignment of Mortgage referred to in clause (iii) of this definition), in recordable
form (except for the name of the assignee, if delivered in blank, and except for recording information not yet available, if the
instrument being assigned has not been returned from the applicable recording office), executed by the applicable assignee of
record to “Wilmington Trust, National Association”, as trustee for the benefit of the registered holders of JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29” or in
blank and, in the case of any Serviced Whole Loan, in its capacity as “Lead Securitization Note Holder” or similar
capacity under the related Intercreditor Agreement on behalf of the related Serviced Companion Noteholders;

 

(vi)        an
original or copy of any related Security Agreement (if such item is a document separate from the Mortgage) and the originals or
copies of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage
Loan to the applicable Mortgage Loan Seller;

 

    	-54-

    	 

    
 

(vii)       an
original assignment of any related Security Agreement (if such item is a document separate from the Mortgage), in complete form
(except for the name of the assignee, if delivered in blank, and except for recording information not yet available if the instrument
being assigned has not been returned from the applicable recording office), executed by the applicable Mortgage Loan Seller to
“Wilmington Trust, National Association”, as trustee for the benefit of the registered holders of JPMBB Commercial
Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29” or in blank and,
in the case of any Serviced Whole Loan, in its capacity as “Lead Securitization Note Holder” or similar capacity under
the related Intercreditor Agreement on behalf of the related Serviced Companion Noteholders;

 

(viii)      originals
or copies of all consolidation, assumption, modification, written assurance and substitution agreements, with evidence of recording
thereon, where appropriate, in those instances where the terms or provisions of the Mortgage, Mortgage Note or any related security
document have been consolidated or modified or the Mortgage Loan has been assumed;

 

(ix)        the
original lender’s title insurance policy issued on the date of the origination of the Mortgage Loan or a copy thereof, together
with all endorsements or riders that were issued with or subsequent to the issuance of such policy, insuring the priority of the
Mortgage as a first lien on the Mortgagor’s fee or leasehold interest in the Mortgaged Property, subject to the exceptions
set forth therein, or if the policy has not yet been issued, an original or copy of a “marked-up” written commitment
(marked as binding and in all cases countersigned by the title insurer or its authorized agent) or the pro forma or specimen title
insurance policy (accepted or approved in writing by the title insurer or its authorized agent) or an agreement to provide the
same pursuant to lender’s escrow trust instructions executed by an authorized representative of the title insurance company;
provided the policy is issued within eighteen (18) months from the Closing Date, in connection with the related Mortgage
Loan;

 

(x)         the
original or copy of any guaranty of the obligations of the Mortgagor under the related Mortgage Loan and any intervening assignments;

 

(xi)        all
UCC Financing Statements, assignments and continuation statements or copies thereof, as filed or recorded, or in form that is
complete and suitable for filing or recording, as appropriate, or other evidence of filing or recording sufficient to perfect
(and maintain the perfection of) the security interest held by the originator of the related Mortgage Loan (and each assignee
of record prior to the Trustee) in and to the personalty of the Mortgagor at the Mortgaged Property (in each case with evidence
of filing or recording thereon, with the exception of filing or recording information not yet available because the UCC Financing
Statement, assignment or continuation statement, as the case may be, has not yet been returned from the applicable filing or recording
office), and to transfer such security interest to the Trustee;

 

    	-55-

    	 

    
 

(xii)        the
original power of attorney or a copy thereof (with evidence of recording thereon) granted by the Mortgagor if the Mortgage, Mortgage
Note or other document or instrument referred to above was not signed by the Mortgagor;

 

(xiii)       with
respect to any Mortgage Loan with Additional Debt secured by a lien on the related Mortgaged Property, a co-lender agreement,
a subordination agreement or other intercreditor agreement, pursuant to which such Additional Debt will be subordinated to, or
pari passu with, such Mortgage Loan as set forth in such agreement;

 

(xiv)       any
additional documents required to be added to the Mortgage File pursuant to Article II of this Agreement;

 

(xv)        with
respect to any Mortgage Loan secured by a Ground Lease, the related Ground Lease or a copy thereof and any related ground lessor
estoppels;

 

(xvi)       an
original of any letter of credit securing such Mortgage Loan and, within sixty (60) days of the Closing Date or such earlier
date as required by the issuer of the letter of credit, a copy of the appropriate transfer or assignment documents (which may
be in the form of an amendment) for such letter of credit;

 

(xvii)      a
copy of any Environmental Indemnity Agreement, together with a copy of any environmental insurance policy;

 

(xviii)     a
copy of any loan agreement(s);

 

(xix)       a
copy of any escrow agreement(s);

 

(xx)        a
copy of any property management agreement(s);

 

(xxi)       a
copy of any franchise agreements and comfort letters or similar agreements related thereto and, with respect to any franchise
agreement or comfort letter or similar agreement related thereto, any assignments thereof or any notice to the franchisor of the
transfer of such Mortgage Loan and a request for the issuance of a new comfort letter in favor of the Trust;

 

(xxii)      a
copy of any lock-box or cash management agreement(s);

 

(xxiii)     a
list related to such Mortgage Loan indicating the related Mortgage Loan documents included in the related Mortgage File as of
the Closing Date (the “Mortgage Loan Checklist”);

 

(xxiv)     a
copy of all environmental reports that were received by the applicable Mortgage Loan Seller relating to the relevant Mortgaged
Property;

 

(xxv)      an
original assignment of all unrecorded documents relating to the Mortgage Loan if not already otherwise assigned;

 

    	-56-

    	 

    
 

(xxvi)      a
copy of any Intercreditor Agreement entered in connection with any Whole Loan or any existing mezzanine indebtedness;

 

(xxvii)     with
respect to each Mortgage Loan that has a Companion Loan, a copy of the Mortgage Note related to such Companion Loan, rather than
the original; and

 

(xxviii)    with
respect to a Non-Serviced Mortgage Loan, a copy of the related Non-Serviced Pooling Agreement;

 

provided,
however, that (a) whenever the term “Mortgage File” is used to refer to documents held by the Custodian,
such term shall not be deemed to include such documents and instruments required to be included therein unless they are actually
received by the Custodian, (b) if there exists with respect to any Crossed Mortgage Loan Group only one original or certified
copy of any document referred to in the definition of “Mortgage File” covering all of the Mortgage Loans in such Crossed
Mortgage Loan Group, then the inclusion of such original or certified copy in the Mortgage File for any of the Mortgage Loans
constituting such Crossed Mortgage Loan Group shall be deemed the inclusion of such original or certified copy in the Mortgage
File for each such Mortgage Loan, (c) to the extent that this Agreement refers to a “Mortgage File” for a Companion
Loan, such “Mortgage File” shall be construed to mean the Mortgage File for the related Mortgage Loan (except that
references to the Mortgage Note for a Companion Loan otherwise described above shall be construed to instead refer to a photocopy
of such Mortgage Note), (d) with respect to any Mortgage Loan that has a Companion Loan, the execution and/or recordation
of any assignment of Mortgage, any separate assignment of Assignment of Leases and any assignment of any UCC Financing Statement
in the name of the Trustee shall not be construed to limit the beneficial interest of the related Companion Holder(s) in such
instrument and the benefits intended to be provided to them by such instrument, it being acknowledged that (i) the Trustee
shall hold such record title for the benefit of the Trust as the holder of the related Mortgage Loan and the related Companion
Holder(s) collectively and (ii) any efforts undertaken by the Trustee, the Master Servicer, or the Special Servicer on its
behalf to enforce or obtain the benefits of such instrument shall be construed to be so undertaken by Trustee, the Master Servicer
or the Special Servicer for the benefit of the Trust as the holder of the applicable Mortgage Loan and the related Companion Holder(s)
collectively, (e) in connection with any Non-Serviced Mortgage Loan, the preceding document delivery requirements will be met
by the delivery by the applicable Mortgage Loan Seller of copies of the documents specified above (other than the Mortgage Note
and intervening endorsements evidencing such Mortgage Loan and the related Intercreditor Agreement, with respect to each of which
the original shall be required), including a copy of the Mortgage securing the applicable Mortgage Loan and any assignments or
other transfer documents referred to in clauses (iii), (v), (vii), (xi) and (xxv) above as being in favor of the Trustee shall
instead be in favor of the applicable Non-Serviced Trustee and need only be in such form as was delivered to the applicable Non-Serviced
Trustee or a custodian on its behalf and (f) in connection with any Non-Serviced Mortgage Loan, any and all document delivery
requirements as regards the related Mortgage File (or any portion thereof) set forth herein or in the related Mortgage Loan Purchase
Agreement will also be satisfied by the delivery, in compliance with the terms of the related Non-Serviced Pooling Agreement,
by the applicable Mortgage Loan Seller of the documents specified above (other than the Mortgage Note and intervening endorsements
evidencing such Mortgage Loan) to Wells

 

    	-57-

    	 

    
 

Fargo
Bank, National Association, as custodian under the related Non-Serviced Pooling Agreement (in such form as was delivered to Wells
Fargo Bank, National Association, in such capacity).

 

“Mortgage
Loan”: Each of the mortgage loans (other than the Crossed Underlying Loans of a Crossed Mortgage Loan Group, it being
understood that for the purposes of this Agreement each Crossed Mortgage Loan Group shall be treated as one Mortgage Loan) transferred
and assigned to the Trustee pursuant to Section 2.01 and from time to time held in the Trust Fund. As used herein,
the term “Mortgage Loan” includes the related Mortgage Note, Mortgage and other documents contained in the related
Mortgage File and any related agreements. As used in this Agreement, the term “Mortgage Loan” does include the Mortgage
Loan associated with any Whole Loan, but does not include any related Companion Loan.

 

“Mortgage
Loan Checklist”: As defined in the definition of “Mortgage File.”

 

“Mortgage
Loan Purchase Agreement”: Each agreement between the Depositor and each Mortgage Loan Seller, relating to the transfer
of all of such Mortgage Loan Seller’s right, title and interest in and to the related Mortgage Loans.

 

“Mortgage
Loan Schedule”: The list of Mortgage Loans transferred on the Closing Date to the Trustee as part of the Trust Fund,
attached hereto as Exhibit B, which list sets forth the following information with respect to each Mortgage Loan so
transferred:

 

(i)          the
loan identification number (as specified in Annex A-1 to the Prospectus Supplement);

 

(ii)         the
Mortgagor’s name;

 

(iii)        the
street address (including city, state, county and zip code) and name of the related Mortgaged Property;

 

(iv)        the
Mortgage Rate in effect at origination;

 

(v)         the
Net Mortgage Rate in effect at the Cut-off Date;

 

(vi)        the
original principal balance;

 

(vii)       the
Cut-off Date Principal Balance;

 

(viii)      the
(a) original term to stated maturity, (b) remaining term to stated maturity and (c) Maturity Date;

 

(ix)        the
original and remaining amortization terms;

 

(x)         the
amount of the Monthly Payment due on the first Due Date following the Cut-off Date;

 

(xi)        the
applicable Servicing Fee Rate;

 

    	-58-

    	 

    

 

 

(xii)         whether
the Mortgage Loan is a 30/360 Mortgage Loan or an Actual/360 Mortgage Loan;

 

(xiii)        [Reserved];

 

(xiv)        whether
such Mortgage Loan is secured by the related Mortgagor’s interest in a ground lease;

 

(xv)         identifying
any Mortgage Loans with which such Mortgage Loan is cross-defaulted or cross-collateralized;

 

(xvi)        the
originator of the related Mortgage Loan and the Mortgage Loan Seller;

 

(xvii)       whether
the related Mortgage Loan has a guarantor;

 

(xviii)      whether
the related Mortgage Loan is secured by a letter of credit;

 

(xix)        amount
of any reserve or escrowed funds that were deposited at origination and any ongoing periodic deposit requirements;

 

(xx)         number
of grace days;

 

(xxi)        whether
a cash management agreement or lock-box agreement is in place;

 

(xxii)       the
general property type of the related Mortgaged Property;

 

(xxiii)      whether
the related Mortgage Loan permits defeasance;

 

(xxiv)      the
interest accrual period;

 

(xxv)       [Reserved];

 

(xxvi)      [Reserved];
and

 

(xxvii)     the
number of units, rooms, pads or square feet with respect to each Mortgaged Property.

 

Such
Mortgage Loan Schedule shall also set forth the aggregate of the amounts described under clause (vii) above for all
of the Mortgage Loans. Such list may be in the form of more than one list, collectively setting forth all of the information required.

 

“Mortgage
Loan Seller”: Each of (i) JPMorgan Chase Bank, National Association, a national banking association, or its successor
in interest, (ii) Barclays Bank PLC, a public limited company registered in England and Wales, or its successor in interest,
(iii) RAIT, a Delaware limited liability company, or its successor in interest, (iv) RCMC, a Delaware corporation, or its
successor in interest and (v) SMF II, a Delaware limited liability company, or its successor in interest. For the avoidance of
doubt, any reference herein to the “Mortgage Loan

 

    	-59-

    	 

    
 

Seller”
as it relates to RAIT in connection with any repurchase obligations thereof shall also be a reference to RAIT Financial Trust
to the extent that RAIT Financial Trust has, in accordance with the RAIT Financial Trust Guaranty, agreed to guaranty such repurchase
obligations. For the avoidance of doubt, any reference herein to the “Mortgage Loan Seller” as it relates to RCMC
in connection with any obligations thereof shall also be a reference to RTI to the extent that RTI has, in accordance with the
related Mortgage Loan Purchase Agreement, agreed to cause RCMC to take any actions thereunder or, to the extent assigned to the
Trustee, RTI otherwise has obligations under the related Mortgage Loan Purchase Agreement. For the avoidance of doubt, any reference
herein to the “Mortgage Loan Seller” as it relates to SMF II in connection with any obligations thereof shall also
be a reference to Starwood to the extent that Starwood has, in accordance with the related Mortgage Loan Purchase Agreement, agreed
to cause SMF II to take any actions thereunder or, to the extent assigned to the Trustee, Starwood otherwise has obligations under
the related Mortgage Loan Purchase Agreement.

 

“Mortgage
Note”: The original executed note(s) evidencing the indebtedness of a Mortgagor under a Mortgage Loan or Companion Loan,
as the case may be, together with any rider, addendum or amendment thereto.

 

“Mortgage
Rate”: With respect to: (i) any Mortgage Loan, related Serviced Pari Passu Companion Loan or the related Subordinate
Companion Loan on or prior to its Maturity Date, the annual rate at which interest is scheduled (in the absence of a default)
to accrue on such Mortgage Loan, related Serviced Pari Passu Companion Loan or the related Subordinate Companion Loan from time
to time in accordance with the related Mortgage Note and applicable law; or (ii) any Mortgage Loan, related Serviced Pari
Passu Companion Loan or the related Subordinate Companion Loan after its Maturity Date, the annual rate described in clause (i)
above determined without regard to the passage of such Maturity Date.

 

“Mortgaged
Property”: The real property subject to the lien of a Mortgage.

 

“Mortgagor”:
The obligor or obligors on a Mortgage Note, including without limitation, any Person that has acquired the related Mortgaged Property
and assumed the obligations of the original obligor under the Mortgage Note and including in connection with any Mortgage Loan
that utilizes an indemnity deed of trust structure, the borrower and the Mortgaged Property owner/payment guarantor/mortgagor
individually and collectively, as the context may require.

 

“Net
Aggregate Prepayment Interest Shortfall”: With respect to any Distribution Date, the amount, if any, by which (a) the
aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage
Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate
Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

 

“Net
Investment Earnings”: With respect to the Certificate Account, the Servicing Accounts or the REO Account or Companion
Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount,
if any, by which the aggregate of all interest and other income realized during such period on funds

 

    	-60-

    	 

    
 

relating
to the Trust Fund held in such account, exceeds the aggregate of all losses, if any, incurred during such period in connection
with the investment of such funds in accordance with Section 3.06.

 

“Net
Investment Loss”: With respect to the Certificate Account, the Servicing Accounts or the REO Account or Companion Distribution
Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount by which the
aggregate of all losses, if any, incurred during such period in connection with the investment of funds relating to the Trust
Fund held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other income
realized during such period on such funds.

 

“Net
Mortgage Rate”: With respect to any Mortgage Loan or any REO Loan (other than the portion of an REO Loan related to
any Companion Loan) as of any date of determination, a rate per annum equal to the related Mortgage Rate then in effect,
minus the related Administrative Cost Rate; provided, however, that for purposes of calculating Pass-Through
Rates, the Net Mortgage Rate for any Mortgage Loan will be determined without regard to any modification, waiver or amendment
of the terms of the related Mortgage Loan, whether agreed to by the Master Servicer or the Special Servicer or resulting from
a bankruptcy, insolvency or similar proceeding involving the Mortgagor; provided, further, that for any Mortgage
Loan that does not accrue interest on the basis of a 360-day year consisting of twelve 30-day months, then, solely for purposes
of calculating Pass-Through Rates on the Regular Certificates, and the interest rate on the Uncertificated Lower-Tier Interests,
the Net Mortgage Rate of such Mortgage Loan or for any one-month period preceding a related Due Date will be the annualized rate
at which interest would have to accrue in respect of such Mortgage Loan on the basis of a 360-day year consisting of twelve 30-day
months in order to produce the aggregate amount of interest actually accrued in respect of such Mortgage Loan during such one-month
period at the related Net Mortgage Rate; provided, further, that, with respect to each Interest Reserve Loan, the
Net Mortgage Rate for the one-month period (A) preceding the Due Dates that occur in January and February in any year which
is not a leap year or preceding the Due Date that occurs in February in any year which is a leap year (in either case, unless
the related Distribution Date is the final Distribution Date), will be determined exclusive of any Withheld Amounts, and (B) preceding
the Due Date in March (or February, if the related Distribution Date is the final Distribution Date), will be determined inclusive
of the amounts withheld in the immediately preceding January and February, if applicable. With respect to any REO Loan, the Net
Mortgage Rate shall be calculated as described above, determined as if the predecessor Mortgage Loan had remained outstanding.

 

“Net
Operating Income”: With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating
Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time
to time endorsed and put forth by the CREFC®.

 

“New
Lease”: Any lease of REO Property entered into at the direction of the Special Servicer on behalf of the Trust, including
any lease renewed, modified or extended on behalf of the Trust, if the Trust has the right to renegotiate the terms of such lease.

 

“Non-Book
Entry Certificates”: As defined in Section 5.02(c).

 

    	-61-

    	 

    

 

“Nonrecoverable
Advance”: Any Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance.

 

“Nonrecoverable
P&I Advance”: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Loan
which, in the reasonable judgment of the Master Servicer or the Trustee, as applicable, will not be ultimately recoverable, together
with any accrued and unpaid interest thereon at the Reimbursement Rate, from Late Collections or any other recovery on or in respect
of such Mortgage Loan or REO Loan; provided, however, that the Special Servicer may, at its option with respect
to any Specially Serviced Mortgage Loan and, prior to the occurrence of a Consultation Termination Event, in consultation with
the Directing Certificateholder, make a determination in accordance with the Servicing Standard, that any P&I Advance previously
made or proposed to be made is a Nonrecoverable P&I Advance and shall deliver to the Master Servicer (and with respect to
a Serviced Mortgage Loan, to any Other Servicer) and with respect to a Non-Serviced Mortgage Loan, to the related Non-Serviced
Master Servicer and Non-Serviced Special Servicer, the Certificate Administrator, the Trustee, the Senior Trust Advisor and the
17g-5 Information Provider notice of such determination. Any such determination may be conclusively relied upon by, but shall
not be binding upon, the Master Servicer and the Trustee, provided, however, that the Special Servicer shall have
no such obligation to make an affirmative determination that any P&I Advance is or would be recoverable and in the absence
of a determination by the Special Servicer that such P&I Advance is or would be a Nonrecoverable P&I Advance, such decision
shall remain with the Master Servicer or Trustee, as applicable. If the Special Servicer makes a determination that only a portion,
and not all, of any previously made or proposed P&I Advance is a Nonrecoverable P&I Advance, the Master Servicer and the
Trustee shall have the right to make its own subsequent determination that any remaining portion of any such previously made or
proposed P&I Advance is a Nonrecoverable P&I Advance. With respect to any Non-Serviced Whole Loan, if any Non-Serviced
Master Servicer or Non-Serviced Special Servicer, as applicable, in connection with a securitization
of the related Non-Serviced Companion Loan determines that a P&I Advance with respect to the related Non-Serviced Companion
Loan, if made, would be a Nonrecoverable P&I Advance, such determination shall not be binding on the Master Servicer and the
Trustee as it relates to any proposed P&I Advance with respect to the related Non-Serviced Mortgage Loan. Similarly, with
respect to the related Non-Serviced Mortgage Loan, if the Master Servicer or the Special Servicer determines that any P&I
Advance with respect to a related Non-Serviced Mortgage Loan, if made, would be a Nonrecoverable P&I Advance, such determination
shall not be binding on the related Non-Serviced Master Servicer and related Non-Serviced Trustee as it relates to any proposed
P&I Advance with respect to the related Non-Serviced Companion Loan. In making such recoverability determination, the Master
Servicer, Special Servicer or Trustee, as applicable, will be entitled (a) to consider (among other things) (i) the
obligations of the Mortgagor under the terms of the related Mortgage Loan or Companion Loan as it may have been modified and (ii) the
related Mortgaged Properties in their “as-is” or then-current conditions and occupancies, as modified by such party’s
assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer or in its good
faith business judgment in the case of the Trustee, solely in its capacity as Trustee) regarding the possibility and effects of
future adverse change with respect to such Mortgaged Properties, (b) to estimate and consider (among other things) future
expenses, (c) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer and the
Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its

 

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capacity
as Trustee) (among other things) the timing of recoveries and (d) to give due regard to the existence of any Nonrecoverable
Advances which, at the time of such consideration, the recovery of which are being deferred or delayed by the Master Servicer,
in light of the fact that related proceeds are a source of recovery not only for the Advance under consideration but also a potential
source of recovery for such delayed or deferred Advance. In addition, any Person, in considering whether a P&I Advance is
a Nonrecoverable Advance, will be entitled to give due regard to the existence of any outstanding Nonrecoverable Advance or Workout-Delayed
Reimbursement Amount with respect to other Mortgage Loans which, at the time of such consideration, the reimbursement of which
is being deferred or delayed by the Master Servicer or the Trustee because there is insufficient principal available for such
reimbursement, in light of the fact that proceeds on the related Mortgage Loan are a source of reimbursement not only for the
P&I Advance under consideration, but also as a potential source of reimbursement of such Nonrecoverable Advance or Workout-Delayed
Reimbursement Amounts which are or may be being deferred or delayed. In addition, any such Person may update or change its recoverability
determinations at any time (but not reverse any other Person’s determination that an Advance is a Nonrecoverable Advance)
and, consistent with the Servicing Standard, in the case of the Master Servicer or in its good faith business judgment in the
case of the Trustee (solely in its capacity as Trustee), may obtain, promptly upon request, from the Special Servicer any reasonably
required analysis, Appraisals or market value estimates or other information in the Special Servicer’s possession for making
a recoverability determination. Absent bad faith, the Master Servicer’s, Special Servicer’s or the Trustee’s
determination as to the recoverability of any P&I Advance shall be conclusive and binding on the Certificateholders. The determination
by the Master Servicer, the Special Servicer or the Trustee, as applicable, that the Master Servicer or the Trustee, as applicable,
has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I
Advance, or any updated or changed recoverability determination, shall be evidenced by an Officer’s Certificate delivered
by either the Special Servicer or the Master Servicer to the other and to the Trustee, the Certificate Administrator, the Directing
Certificateholder (but only prior to the occurrence of a Consultation Termination Event), the Senior Trust Advisor (but only in
the case of the Special Servicer) and the Depositor (and, in the case of a Serviced Mortgage Loan, any Other Servicer), or by
the Trustee to the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor and the Certificate Administrator
(and, in the case of a Serviced Mortgage Loan, any Other Servicer). The Officer’s Certificate shall set forth such determination
of nonrecoverability and the considerations of the Master Servicer, the Special Servicer or the Trustee, as applicable, forming
the basis of such determination (which shall be accompanied by, to the extent available, income and expense statements, rent rolls,
occupancy status, property inspections and any other information used by the Master Servicer, the Special Servicer or the Trustee,
as applicable, to make such determination and shall include any existing Appraisal of the related Mortgage Loan, or the related
Mortgaged Property). The Trustee shall be entitled to conclusively rely on the Master Servicer’s or Special Servicer’s
determination that a P&I Advance is or would be nonrecoverable, and the Master Servicer shall be entitled to conclusively
rely on the Special Servicer’s determination that a P&I Advance is or would be nonrecoverable. In the case of a cross-collateralized
Mortgage Loan (if any), such recoverability determination shall take into account the cross-collateralization of the related cross-collateralized
Mortgage Loan.

 

“Nonrecoverable
Servicing Advance”: Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan (other
than a Non-Serviced Mortgage

 

    	-63-

    	 

    
 

Loan),
Whole Loan or REO Property which, in the reasonable judgment of the Master Servicer, the Special Servicer or the Trustee, as the
case may be, will not be ultimately recoverable, together with any accrued and unpaid interest thereon, at the Reimbursement Rate,
from Late Collections or any other recovery on or in respect of such Mortgage Loan, Whole Loan or REO Property. In making such
recoverability determination, such Person will be entitled (a) to consider (among other things) (i) the obligations
of the Mortgagor under the terms of the related Mortgage Loan or Whole Loan as it may have been modified and (ii) the related
Mortgaged Properties in their “as-is” or then current conditions and occupancies, as modified by such party’s
assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer or in its good
faith business judgment in the case of the Trustee, solely in its capacity as Trustee) regarding the possibility and effects of
future adverse change with respect to such Mortgaged Properties, (b) to estimate and consider (consistent with the Servicing Standard
in the case of the Master Servicer or the Special Servicer or in its good faith business judgment in the case of the Trustee,
solely in its capacity as Trustee) (among other things) future expenses and (c) to estimate and consider (among other things)
the timing of recoveries. In addition, any Person, in considering whether a Servicing Advance is a Nonrecoverable Servicing Advance,
will be entitled to give due regard to the existence of any Nonrecoverable Advance or Workout-Delayed Reimbursement Amounts with
respect to other Mortgage Loans that, at the time of such consideration, the reimbursement of which is being deferred or delayed
by the Master Servicer, in light of the fact that proceeds on the related Mortgage Loan are a source of recovery not only for
the Servicing Advance under consideration, but also as a potential source of recovery of such Nonrecoverable Advance or Workout-Delayed
Reimbursement Amounts which are or may be being deferred or delayed. In addition, any such Person may update or change its recoverability
determinations at any time (but not reverse any other Person’s determination that an Advance is a Nonrecoverable Advance)
and, consistent with the Servicing Standard, in the case of the Master Servicer, may obtain, promptly upon request, from the Special
Servicer any reasonably required analysis, Appraisals or market value estimates or other information in the Special Servicer’s
possession for making a recoverability determination. The determination by the Master Servicer, the Special Servicer or the Trustee,
as the case may be, that it has made a Nonrecoverable Servicing Advance or that any proposed Servicing Advance, if made, would
constitute a Nonrecoverable Servicing Advance, or any updated or changed recoverability determination, shall be evidenced by an
Officer’s Certificate delivered by either of the Special Servicer or Master Servicer to the other and to the Trustee, the
Certificate Administrator, the Directing Certificateholder (but only prior to the occurrence of a Consultation Termination Event),
the Senior Trust Advisor (but only in the case of the Special Servicer) and the Depositor (and, in the case of a Serviced Mortgage
Loan, any Other Servicer), or by the Trustee to the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor
and the Certificate Administrator (and, in the case of a Serviced Mortgage Loan, any Other Servicer); provided, however,
that the Special Servicer may, at its option and, prior to the occurrence of a Consultation Termination Event, in consultation
with the Directing Certificateholder, make a determination in accordance with the Servicing Standard, that any Servicing Advance
previously made or proposed to be made is a Nonrecoverable Servicing Advance and shall deliver to the Master Servicer (and with
respect to a Serviced Mortgage Loan, to any Other Servicer), the Trustee, the Certificate Administrator and the 17g-5 Information
Provider notice of such determination. Any such determination may be conclusively relied upon by, but shall not be binding upon,
the Master Servicer, the Special Servicer and the Trustee, provided, however, that

 

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the
Special Servicer shall have no such obligation to make an affirmative determination that any Servicing Advance is or would be
recoverable and in the absence of a determination by the Special Servicer that such Servicing Advance is or would be a Nonrecoverable
Servicing Advance, such decision shall remain with the Master Servicer or the Trustee, as applicable. If the Special Servicer
makes a determination that only a portion, and not all, of any previously made or proposed Servicing Advance is a Nonrecoverable
Servicing Advance, the Master Servicer and the Trustee shall each have the right to make its own subsequent determination that
any remaining portion of any such previously made or proposed Servicing Advance is a Nonrecoverable Servicing Advance. The Officer’s
Certificate shall set forth such determination of nonrecoverability and the considerations of the Master Servicer, the Special
Servicer or the Trustee, as applicable, forming the basis of such determination (which shall be accompanied by, to the extent
available, related income and expense statements, rent rolls, occupancy status and property inspections, and shall include any
existing Appraisal with respect to the related Mortgage Loan or Serviced Companion, as applicable, or related Mortgaged Property).
The Special Servicer shall promptly furnish any party required to make Servicing Advances hereunder with any information in its
possession regarding the Specially Serviced Mortgage Loans and REO Properties as such party required to make Servicing Advances
may reasonably request for purposes of making recoverability determinations. The Trustee shall be entitled to conclusively rely
on the Master Servicer’s or Special Servicer’s, as the case may be, determination that a Servicing Advance is or would
be nonrecoverable, and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s determination
that a Servicing Advance is or would be nonrecoverable. Notwithstanding anything herein to the contrary, if the Special Servicer
requests that the Master Servicer make a Servicing Advance, the Master Servicer may conclusively rely on such request as evidence
that such advance is not a Nonrecoverable Servicing Advance; provided, however, the Special Servicer shall not be
entitled to make such a request more frequently than once per calendar month with respect to Servicing Advances other than emergency
advances (although such request may relate to more than one Servicing Advance). In the case of a cross-collateralized Mortgage
Loan (if any), such recoverability determination shall take into account the cross-collateralization of the related cross-collateralized
Mortgage Loan. The determination as to the recoverability of any servicing advance previously made or proposed to be made in respect
of a Non-Serviced Whole Loan shall be made by the related Non-Serviced Master Servicer, Non-Serviced Special Servicer or Non-Serviced
Trustee, as the case may be, pursuant to the related Non-Serviced Pooling Agreement. For the avoidance of doubt, the Special Servicer
shall not make any Servicing Advances.

 

“Non-Registered
Certificate”: Unless and until registered under the Securities Act, any Class A-3A2, Class X-C, Class X-D,
Class X-E, Class X-F, Class X-NR, Class D, Class E, Class F, Class NR or Class R Certificate.

 

“Non-Serviced
Certificate Administrator”: The “Certificate Administrator” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Companion Loan”: The Horizon Outlet Shoppes Portfolio Pari Passu Companion Loan.

    	-65-

    	 

    

 

“Non-Serviced
Depositor”: The “Depositor” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Gain-on-Sale Proceeds”: Any “gain-on-sale proceeds” received in respect of a Non-Serviced Mortgage Loan
pursuant to the related Non-Serviced Pooling Agreement.

 

“Non-Serviced
Intercreditor Agreement”: The Horizon Outlet Shoppes Portfolio Intercreditor Agreement.

 

“Non-Serviced
Master Servicer”: The “Master Servicer” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Mortgage Loan”: The Horizon Outlet Shoppes Portfolio Mortgage Loan.

 

“Non-Serviced
Mortgaged Property”: The Horizon Outlet Shoppes Portfolio Mortgaged Property.

 

“Non-Serviced
Pooling Agreement”: The JPMBB Commercial Mortgage Securities Trust 2015-C28 Pooling and Servicing Agreement.

 

“Non-Serviced
Senior Trust Advisor”: The “Senior Trust Advisor” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Special Servicer”: The “Special Servicer” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Trust”: The “Trust” formed under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Trustee”: The “Trustee” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Whole Loan”: The Horizon Outlet Shoppes Portfolio Whole Loan.

 

“Non-Serviced
Whole Loan Controlling Holder”: The “directing certificateholder” or similarly defined party under a Non-Serviced
Pooling Agreement.

 

“Non-Specially
Serviced Mortgage Loan”: Any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan that
is not a Specially Serviced Mortgage Loan.

 

“Non-U.S.
Beneficial Ownership Certification”: As defined in Section 5.03(f).

 

“Non-U.S.
Tax Person”: Any person other than a U.S. Tax Person, unless, with respect to the Transfer of a Class R Certificate,
(i) such person holds such Class R Certificate in 

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connection with the conduct of a trade or business within the United
States and furnishes the Transferor and the Certificate Registrar with an effective Internal Revenue Service Form W-8ECI
(or successor form) or (ii) the Transferee delivers to both the Transferor and the Certificate Registrar an opinion of a
nationally recognized tax counsel to the effect that such Transfer is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such Transfer of the Class R Certificate will not be disregarded for federal
income tax purposes. A Person shall be treated as a Non-U.S. Tax Person, (A) notwithstanding clause (i) of the
preceding sentence, if it is a partnership (including any entity treated as a partnership for U.S. federal income tax purposes)
any interest in which is owned (or may be owned pursuant to the applicable partnership agreement), directly or indirectly (other
than through a U.S. corporation), by a Non-U.S. Tax Person or (B) if such Person is a U.S. Tax Person with respect to whom
income from a Class R Certificate is attributable to a foreign permanent establishment of fixed base, within the meaning
of an applicable income treaty, of such Person or any other U.S. Tax Person.

 

“Non-Waiving
Successor”: As defined in Section 3.28(l).

 

“Notional
Amount”: In the case of the Class X-A Certificates, the Class X-A Notional Amount; in the case of the Class X-B Certificates,
the Class X-B Notional Amount; in the case of the Class X-C Certificates, the Class X-C Notional Amount; in the case of the Class
X-D Certificates, the Class X-D Notional Amount, in the case of the Class X-E Certificates, the Class X-E Notional Amount, in
the case of the Class X-F Certificates, the Class X-F Notional Amount and in the case of the Class X-NR Certificates, the Class
X-NR Notional Amount.

 

“NRSRO”:
Any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act, including
the Rating Agencies.

 

“NRSRO
Certification”: A certification (a) substantially in the form of Exhibit P-2 executed by a NRSRO or (b) provided
electronically and executed by such NRSRO by means of a “click-through” confirmation on the 17g-5 Information Provider’s
Website, in either case in favor of the 17g-5 Information Provider that states that such NRSRO is a Rating Agency under this Agreement,
or that such NRSRO has been engaged to rate any securities backed, in whole or in part, by a Serviced Pari Passu Companion Loan,
or that such NRSRO has provided the Depositor with the appropriate certifications pursuant to paragraph (e) of Rule 17g-5
of the Exchange Act, such NRSRO has access to the Depositor’s 17g-5 website and such NRSRO will keep such information confidential,
except to the extent such information has been made available to the general public.

 

“OCC”:
Office of the Comptroller of the Currency.

 

“Offered
Certificates”: The Class A-1, Class A-2, Class A-3A1, Class A-4, Class A-SB, Class A-S,
Class B, Class C, Class EC, Class X-A and Class X-B Certificates.

 

“Officer’s
Certificate”: A certificate signed by a Servicing Officer of the Master Servicer or the Special Servicer or any Additional
Servicer, as the case may be, or a Responsible Officer of the Trustee or Certificate Administrator, as the case may be.

    	-67-

    	 

    

 

“Offshore
Transaction”: Any “offshore transaction” as defined in Rule 902(h) of Regulation S. 

 

“One
City Centre Intercreditor Agreement”: That certain Co-Lender Agreement, dated as of June 30, 2015, by and between the
holder of the One City Centre Pari Passu Companion Loan and the holder of the One City Centre Mortgage Loan, relating to the relative
rights of such holders of the One City Centre Whole Loan, as the same may be further amended in accordance with the terms thereof.

 

“One
City Centre Mortgage Loan”: With respect to the One City Centre Whole Loan, the Mortgage Loan that is included in the
Trust (identified as Mortgage Loan No. 2 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is pari
passu in right of payment with the One City Centre Pari Passu Companion Loan to the extent set forth in the One City Centre Intercreditor
Agreement.

 

“One
City Centre Mortgaged Property”: The Mortgaged Property which secures the One City Centre Whole Loan.

 

“One
City Centre Pari Passu Companion Loan”: With respect to the One City Centre Whole Loan, the Companion Loan evidenced
by the related promissory note made by the related Mortgagor and secured by the Mortgage on the One City Centre Mortgaged Property,
which is not included in the Trust and which is pari passu in right of payment to the One City Centre Mortgage Loan to the extent
set forth in the related Mortgage Loan documents and as provided in the One City Centre Intercreditor Agreement.

 

“One
City Centre Whole Loan”: The One City Centre Mortgage Loan, together with the One City Centre Pari Passu Companion Loan,
each of which is secured by the same Mortgage on the One City Centre Mortgaged Property. References herein to the One City Centre
Whole Loan shall be construed to refer to the aggregate indebtedness under the One City Centre Mortgage Loan and the One City
Centre Pari Passu Companion Loan.

 

“Opinion
of Counsel”: A written opinion of counsel, who may, without limitation, be salaried counsel for the Depositor, the Master
Servicer, the Special Servicer or the Senior Trust Advisor, acceptable in form and delivered to the Trustee and the Certificate
Administrator, except that any opinion of counsel relating to (a) the qualification of any Trust REMIC as a REMIC, (b) compliance
with the REMIC Provisions, (c) the qualification of the Grantor Trust as a grantor trust, or (d) the resignation of
the Master Servicer, the Special Servicer or the Depositor pursuant to Section 6.04, must be an opinion of counsel
who is in fact Independent of the Depositor, the Master Servicer, the Special Servicer and the Senior Trust Advisor.

 

“Original
Certificate Balance”: With respect to any Class of Principal Balance Certificates, the initial aggregate principal amount
thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

 

“Original
Lower-Tier Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interest, the initial principal
amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

    	-68-

    	 

    

 

“Original
Notional Amount”: With respect to the Class X-A Notional Amount, the Class X-B Notional Amount, the Class X-C Notional
Amount, the Class X-D Notional

 

 

Amount,
the Class X-E Notional Amount, the Class X-F Notional Amount and the Class X-NR Notional Amount, the applicable initial Notional
Amount thereof as of the Closing Date, as specified in the Preliminary Statement.

 

“Other
Certificate Administrator”: Any certificate administrator under an Other Pooling and Servicing Agreement.

 

“Other
Depositor”: Any depositor under an Other Pooling and Servicing Agreement.

 

“Other
Pooling and Servicing Agreement”: Any pooling and servicing agreement that creates a trust fund whose assets include
any Serviced Companion Loan.

 

“Other
Securitization”: As defined in Section 11.06.

 

“Other
Servicer”: Any master servicer or special servicer, as applicable, under an Other Pooling and Servicing Agreement.

 

“Other
Trustee”: Any trustee under an Other Pooling and Servicing Agreement.

 

“Ownership
Interest”: As to any Certificate, any ownership or security interest in such Certificate as the Holder thereof and any
other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

 

“P&I
Advance”: As to any Mortgage Loan or REO Loan (but not any related Companion Loan), as applicable, any advance made
by the Master Servicer or the Trustee, as applicable, pursuant to Section 4.03 or Section 7.05.

 

“P&I
Advance Date”: The Business Day immediately prior to each Distribution Date.

 

“P&I
Advance Determination Date”: With respect to any Distribution Date, the close of business on the related Determination
Date.

 

“Pass-Through
Rate”: Any of the Class A-1 Pass-Through Rate, the Class A-2 Pass-Through Rate, the Class A-3A1 Pass-Through
Rate, the Class A-3A2 Pass-Through Rate, the Class A-4 Pass-Through Rate, the Class A-SB Pass-Through Rate, the Class A-S
Pass-Through Rate, the Class B Pass-Through Rate, the Class C Pass-Through Rate, the Class D Pass-Through Rate,
the Class E Pass-Through Rate, the Class F Pass-Through Rate, the Class NR Pass-Through Rate, the Class X-A
Pass-Through Rate, the Class X-B Pass-Through Rate, the Class X-C Pass-Through Rate, the Class X-D Pass-Through
Rate, the Class X-E Pass-Through Rate, the Class X-F Pass-Through Rate or the Class X-NR Pass-Through Rate.

 

“PCAOB”:
The Public Company Accounting Oversight Board.

    	-69-

    	 

    

 

“Penalty
Charges”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan (or
any successor REO Loan), any amounts actually collected thereon (or, in the case of a Serviced Companion Loan (or any successor
REO Loan thereto) that is part of a Serviced Whole Loan, actually collected on such Serviced Whole Loan and allocated and paid
on such Serviced Companion Loan (or any successor REO Loan) in accordance with the related Intercreditor Agreement) that represent
late payment charges or Default Interest, other than a Yield Maintenance Charge.

 

“Percentage
Interest”: As to any Certificate (other than the Class R Certificates), the percentage interest evidenced thereby
in distributions required to be made with respect to the related Class. With respect to any Certificate (other than the Class R
Certificates), the percentage interest is equal to the Denomination of such Certificate divided by the Original Certificate Balance
or Original Notional Amount, as applicable, of such Class of Certificates as of the Closing Date, in the case of the Exchangeable
Certificates, in each case, after giving effect to any exchange and conversion for Class EC Certificates. With respect to
a Class R Certificate Certificate, the percentage interest is set forth on the face thereof. With respect to the Class EC
Certificates, the percentage interest is equal to the Denomination of such Certificate divided by the Original Certificate Balance
as of the Closing Date of the Exchangeable Certificates exchanged and converted for such Class EC Certificates.

 

“Performance
Certification”: As defined in Section 11.06.

 

“Performing
Party”: As defined in Section 11.12.

 

“Permitted
Investments”: Any one or more of the following obligations or securities (including obligations or securities of the
Certificate Administrator, or managed by the Certificate Administrator or any Affiliate of the Certificate Administrator, if otherwise
qualifying hereunder), regardless of whether issued by the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator, or any of their respective Affiliates and having the required ratings, if any, provided for in
this definition and which shall not be subject to liquidation prior to maturity:

 

(i)          direct
obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States of America,
Fannie Mae, Freddie Mac or any agency or instrumentality of the United States of America, the obligations of which are backed
by the full faith and credit of the United States of America that mature in one (1) year or less from the date of acquisition;
provided that any obligation of, or guarantee by, Fannie Mae or Freddie Mac, other than an unsecured senior debt obligation
of Fannie Mae or Freddie Mac, shall be a Permitted Investment only if such investment would not result in the downgrading, withdrawal
or qualification of the then-current rating assigned by each Rating Agency to any Certificate (or, insofar as there is then outstanding
any class of Serviced Companion Loan Securities that are then rated by such rating agency, such class of securities) as evidenced
in writing;

 

(ii)         time
deposits, unsecured certificates of deposit, or bankers’ acceptances that mature in one (1) year or less after the date
of issuance and are 

    	-70-

    	 

    

issued or held by any depository institution or trust company (including the Trustee) incorporated or organized
under the laws of the United States of America or any State thereof and subject to supervision and examination by federal or state
banking authorities (A) in the case of such investments with maturities of thirty (30) days or less, the short-term debt obligations
of which are rated in the highest short-term rating category by Moody’s or the long-term debt obligations of which are rated
at least “A2” by Moody’s, (B) in the case of such investments with maturities of three (3) months or less, but
more than thirty (30) days, the short-term obligations of which are rated in the highest short-term rating category by Moody’s
and the long-term obligations of which are rated at least “A1” by Moody’s, (C) in the case of such investments
with maturities of six (6) months or less, but more than three (3) months, the short-term obligations of which are rated in the
highest short-term rating category by Moody’s and the long-term obligations of which are rated at least “Aa3”
by Moody’s, (D) in the case of such investments with maturities of more than six (6) months, the short-term obligations
of which are rated in the highest short-term rating category by Moody’s and the long-term obligations of which are rated
“Aaa” by Moody’s (or, in each case, if permitted by the related Mortgage Loan, if not rated by Moody’s,
otherwise acceptable to Moody’s, as confirmed in writing that such investment would not, in and of itself, result in a downgrade,
qualification or withdrawal of the then current ratings assigned to the Certificates) and (E) the commercial paper or other short-
term debt obligations of such depository institution or trust company are rated in the highest rating categories of each Rating
Agency or such other rating as would not result in the downgrading, withdrawal or qualification of the then-current rating assigned
by each Rating Agency to any Class of Certificates (or, insofar as there is then outstanding any class of Serviced Companion Loan
Securities that is then rated by such rating agency, such class of securities) as evidenced in writing;

 

(iii)        repurchase
agreements or obligations with respect to any security described in clause (i) above where such security has a remaining
maturity of one year or less and where such repurchase obligation has been entered into with a depository institution or trust
company (acting as principal) described in clause (ii) above;

 

(iv)        debt
obligations bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States
of America or any state thereof which mature in one (1) year or less from the date of acquisition, which debt obligations are
rated in the highest rating categories of each Rating Agency, if the obligations mature within 60 days; provided, however,
that securities issued by any particular corporation will not be Permitted Investments to the extent that investment therein will
cause the then outstanding principal amount of securities issued by such corporation and held in the accounts established hereunder
to exceed 10% of the sum of the aggregate principal balance and the aggregate principal amount of all Permitted Investments in
such accounts;

    	-71-

    	 

    

 

(v)         commercial
paper (including both non-interest bearing discount obligations and interest bearing obligations) of any corporation or other
entity organized under the laws of the United States or any state thereof payable on demand or on a specified date maturing in
one (1) year or less from the date of acquisition thereof and which is rated in the highest rating category of each Rating Agency;

 

(vi)        money
market funds, rated in the highest rating categories of each Rating Agency (if so rated by each such Rating Agency (and if not
rated by any such Rating Agency, an equivalent rating (or higher) by at least two (2) NRSROs (which may include Fitch, KBRA,
DBRS, Moody’s and/or S&P)) and the highest money market fund category by Moody’s (or, if not rated by Moody’s,
otherwise acceptable to such Rating Agency, as confirmed in a Rating Agency Confirmation relating to the Certificates), which
may include the investments referred to in clause (i) hereof if so qualified that (a) have substantially all of their
assets invested continuously in the types of investments referred to in clause (i) above and (b) have net assets of not
less than $5,000,000,000;

 

(vii)       any
other demand, money market or time deposit, obligation, security or investment, but for the failure to satisfy one or more of
the minimum rating(s) set forth in the applicable clause, would be listed in clauses (i) – (vi) above
with respect to which a Rating Agency Confirmation has been obtained from each Rating Agency for which the minimum ratings set
forth in the applicable clause is not satisfied with respect to such demand, money market or time deposit, obligation, security
or investment and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30); and

 

(viii)      any
other demand, money market or time depositor, obligation, security or investment not listed in clauses (i) –
(vi) above with respect to which a Rating Agency Confirmation has been obtained from each and every Rating Agency;

 

provided,
however, that each Permitted Investment qualifies as a “cash flow investment” pursuant to Section 860G(a)(6)
of the Code, and that (a) it shall have a predetermined fixed dollar of principal due at maturity that cannot vary or change
and (b) any such investment that provides for a variable rate of interest must have an interest rate that is tied to a single
interest rate index plus a fixed spread, if any, and move proportionately with such index; and provided, further,
however, that no such instrument shall be a Permitted Investment (a) if such instrument evidences principal and interest
payments derived from obligations underlying such instrument and the interest payments with respect to such instrument provide
a yield to maturity at the time of acquisition of greater than 120% of the yield to maturity at par of such underlying obligations
or (b) if such instrument may be redeemed at a price below the purchase price; and provided, further, however,
that no amount beneficially owned by any Trust REMIC (even if not yet 

    	-72-

    	 

    

deposited in the Trust) may be invested in investments (other
than money market funds) treated as equity interests for federal income tax purposes, unless the Master Servicer receives an Opinion
of Counsel, at its own expense, to the effect that such investment will not adversely affect the status of any Trust REMIC. Permitted
Investments that are subject to prepayment or call may not be purchased at a price in excess of par.

 

“Permitted
Special Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, banking fees, title agency fees,
insurance commissions or fees and appraisal fees received or retained by the Special Servicer or any of its Affiliates in connection
with any services performed by such party with respect to any Mortgage Loan, any Serviced Whole Loan or REO Property in accordance
with this Agreement.

 

“Permitted
Transferee”: Any Person or any agent thereof other than (a) a Disqualified Organization, (b) any other Person
so designated by the Certificate Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such Person
or the Person requesting the transfer) to the effect that the transfer of an Ownership Interest in any Class R Certificate
to such Person will not cause the Trust Fund to fail to qualify as one or more REMICs at any time that the Certificates are outstanding,
(c) a Person that is a Non-U.S. Tax Person (other than (i) a Non-U.S. Tax Person in whose hands the income from such
Class R Certificate is effectively connected with the conduct of a trade or business within the United States and that has
furnished the transferor and the Certificate Registrar with an effective Internal Revenue Service Form W-8ECI or other prescribed
form or (ii) a Non-U.S. Tax Person, if in connection with the proposed transfer of such Class R Certificate, the transferor
provides an Opinion of Counsel to the Certificate Registrar to the effect that such transfer will not be disregarded for federal
income tax purposes under Treasury Regulations Section 1.860G-3), (d) any partnership if any of its interests are (or
under the partnership agreement are permitted to be) owned, directly or indirectly (other than through a U.S. corporation), by
a Non-U.S. Tax Person or (e) a U.S. Tax Person with respect to whom income from the Class R Certificate is attributable
to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the transferee or
any other U.S. Tax Person.

 

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

 

“Plan”:
As defined in Section 5.03(m).

 

“Prepayment
Assumption”: A “constant prepayment rate” of 0% used for determining the accrual of original issue discount
and market discount, if any, and the amortization premium, if any, on the Certificates for federal income tax purposes.

 

“Prepayment
Interest Excess”: For any Distribution Date and with respect to any Mortgage Loan or any Serviced Pari Passu Companion
Loan that was subject to a Principal Prepayment in full or in part during the related Due Period, which Principal Prepayment was
applied to such Mortgage Loan or Serviced Pari Passu Companion Loan, as applicable, after the related Due Date and prior to the
following Determination Date, the amount of interest (net of the related Servicing Fees), to the extent collected from the related
Mortgagor (without regard to 

    	-73-

    	 

    

any prepayment premium or Yield Maintenance Charge actually collected), that would have accrued at
a rate per annum equal to the sum of (x) the related Net Mortgage Rate for such Mortgage Loan and (y) the Certificate
Administrator Fee Rate and Senior Trust Advisor Fee Rate, on the
amount of such Principal Prepayment from such Due Date to, but not including, the date of such prepayment (or any later date through
which interest accrues).

 

“Prepayment
Interest Shortfall”: For any Distribution Date and with respect to any Mortgage Loan or any Serviced Pari Passu Companion
Loan that was subject to a Principal Prepayment in full or in part during the related Due Period, which Principal Prepayment was
applied to such Mortgage Loan or Serviced Pari Passu Companion Loan, as applicable, after the related Determination Date (or,
with respect to each Mortgage Loan or Serviced Pari Passu Companion Loan, as applicable, with a Due Date occurring after the related
Determination Date, the related Due Date) and prior to the following Due Date, the amount of interest (net of the related Servicing
Fees), to the extent not collected from the related Mortgagor (without regard to any prepayment premium or Yield Maintenance Charge
actually collected), that would have accrued at a rate per annum equal to the sum of (x) the related Net Mortgage
Rate for such Mortgage Loan and (y) the Certificate Administrator Fee Rate and the Senior Trust Advisor Fee Rate, on the
amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied
to such Mortgage Loan and ending on such following Due Date.

 

“Primary
Collateral”: With respect to any Crossed Underlying Loan, that portion of the Mortgaged Property designated as directly
securing such Crossed Underlying Loan and excluding any Mortgaged Property as to which the related lien may only be foreclosed
upon by exercise of the cross-collateralization provisions of such Crossed Underlying Loan.

 

“Primary
Servicing Fee”: The monthly fee payable by the Master Servicer solely from the Servicing Fee to each Initial Sub-Servicer,
which monthly fee accrues at the rate per annum specified as such in the Sub-Servicing Agreement with such Initial Sub-Servicer.

 

“Prime
Rate”: The “Prime Rate” as published in the “Money Rates” section of the New York City edition
of The Wall Street Journal (or, if such section or publication is no longer available, such other comparable publication
as determined by the Certificate Administrator in its reasonable discretion) as may be in effect from time to time, or, if the
“Prime Rate” no longer exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable
discretion) as may be in effect from time to time.

 

“Principal
Balance Certificates”: Each of the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB,
Class A-S, Class B, Class C, Class D, Class E, Class F and Class NR Certificates.

 

“Principal
Distribution Amount”: With respect to any Distribution Date and the Principal Balance Certificates, an amount equal
to the sum of the following amounts: (a) the Principal Shortfall for such Distribution Date, (b) the Scheduled Principal
Distribution Amount for such Distribution Date and (c) the Unscheduled Principal Distribution Amount for such Distribution
Date; provided that the Principal Distribution Amount for any Distribution Date shall be reduced, to not less than zero,
by the amount of any reimbursements of 

    	-74-

    	 

    

(A) Nonrecoverable Advances, with interest on such Nonrecoverable Advances at the
Reimbursement Rate that are paid or reimbursed from principal collections on the Mortgage Loans in a period during which such
principal collections would have otherwise been included in the Principal Distribution Amount for such Distribution Date and (B) Workout-Delayed
Reimbursement Amounts paid or reimbursed from principal collections on the Mortgage Loans in a period during which such principal
collections would have otherwise been included in the Principal Distribution Amount for such Distribution Date (provided
that, in the case of clauses (A) and (B) above, if any of the amounts that were reimbursed from principal collections
on the Mortgage Loans are subsequently recovered on the related Mortgage Loan, such recovery will increase the Principal Distribution
Amount for the Distribution Date related to the period in which such recovery occurs). With respect to each Class of Exchangeable
Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a)
of this Agreement as between the Exchangeable Certificates and the Class EC Certificates, all allocations of principal
to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange and conversion
of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of principal
that are allocable to Exchangeable Certificates that have been exchanged and converted to Class EC Certificates shall be
deemed allocable to and shall be distributable to such Class EC Certificates, without duplication.

 

“Principal
Prepayment”: Any payment of principal made by the Mortgagor on a Mortgage Loan that is received in advance of its scheduled
Due Date as a result of such prepayment.

 

“Principal
Shortfall”: For any Distribution Date after the initial Distribution Date with respect to the Mortgage Loans, the amount,
if any, by which (a) the related Principal Distribution Amount for the preceding Distribution Date, exceeds (b) the
aggregate amount distributed in respect of principal on the Class A-1, Class A-2, Class A-3A1, Class A-3A2,
Class A-4, Class A-SB, Class A-S, Class B, Class C, Class D, Class E, Class F and Class NR
Certificates for such preceding Distribution Date pursuant to Section 4.01(a). The Principal Shortfall for the initial
Distribution Date will be zero. With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for
purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable
Certificates and the Class EC Certificates, all Principal Shortfalls of each Class of Exchangeable Certificates for any Distribution
Date shall be determined without regard to any exchange and conversion of such Exchangeable Certificates for Class EC Certificates;
provided, however, that all Principal Shortfalls that are allocable to Exchangeable Certificates that have been
exchanged and converted for Class EC Certificates shall be deemed allocable to such Class EC Certificates, without duplication.

 

“Privileged
Communications”: Any correspondence between the Directing Certificateholder and the Special Servicer referred to in
clause (i) of the definition of “Privileged Information”.

 

“Privileged
Information”: Any (i) correspondence between the Directing Certificateholder and the Special Servicer related to
any Specially Serviced Mortgage Loan or the exercise of the Directing Certificateholder’s consent or consultation rights
under this 

    	-75-

    	 

    

Agreement, (ii) strategically sensitive information that the Special Servicer has reasonably determined could
compromise the Trust Fund’s position in any ongoing or future negotiations with the related Mortgagor or other interested
party and (iii) information subject to attorney-client privilege. Both the Master Servicer and the Special Servicer shall be
entitled to rely on any identification of materials as “attorney-client privileged” without liability for any such
reliance hereunder.

 

“Privileged
Person”: The Depositor and its designees, the Initial Purchasers, the Underwriters, the Mortgage Loan Sellers, the Master
Servicer, the Special Servicer, the Trustee, the Certificate Administrator, any Additional Servicer designated by the Master Servicer
or the Special Servicer, the Directing Certificateholder (but only prior to the occurrence of a Consultation Termination Event),
the Senior Trust Advisor, any affiliate of the Senior Trust Advisor designated by the Senior Trust Advisor, any Companion Holder
(or representative thereof) who provides an Investor Certification, any Person who provides the Certificate Administrator with
an Investor Certification and any NRSRO (including any Rating Agency) that provides the Certificate Administrator with an NRSRO
Certification, which Investor Certification and NRSRO Certification may be submitted electronically via the Certificate Administrator’s
Website; provided, that in no event may a Mortgagor, a manager of a Mortgaged Property, an Affiliate, principal, partner,
member, joint venture, limited partner, employee, representative, director, advisor or investor in any of the foregoing or an
agent of any of the foregoing or a mezzanine lender for which an event has occurred that would permit acceleration or who has
commenced foreclosure proceedings be considered a Privileged Person. In determining whether any person is an Additional Servicer
or an affiliate of the Senior Trust Advisor, the Certificate Administrator may rely on direction by the Master Servicer, the Special
Servicer, each Mortgage Loan Seller or the Senior Trust Advisor, as the case may be.

 

“Prohibited
Party”: Any proposed Servicing Function Participant that is listed on the Depositor’s Do Not Hire List.

 

“Prohibited
Prepayment”: As defined in the definition of Compensating Interest Payments.

 

“Prospectus”:
The Prospectus, dated October 1, 2014, as supplemented by the Prospectus Supplement.

 

“Prospectus
Supplement”: The Prospectus Supplement, dated June 5, 2015, relating to the offering of the Offered Certificates.

 

“PTCE”:
Prohibited Transaction Class Exemption.

 

“Purchase
Price”: With respect to any Mortgage Loan (or any related REO Loan) (including, to the extent required pursuant to the
final paragraph hereof, any related Companion Loan) to be purchased pursuant to (A) Section 6 of the related Mortgage
Loan Purchase Agreement by the related Mortgage Loan Seller, (B) Section 3.18, or (C) Section 9.01,
a price, without duplication, equal to:

 

(i)          the
outstanding principal balance of such Mortgage Loan (or any related REO Loan (including for such purpose, to the extent required
pursuant to 

    	-76-

    	 

    

the final paragraph hereof, the related Companion Loan)) as of the date of purchase; plus 

 

(ii)         all
accrued and unpaid interest on such Mortgage Loan (or any related REO Loan (including for such purpose, to the extent required
pursuant to the final paragraph hereof, the related Companion Loan)), at the related Mortgage Rate in effect from time to time
(exclusive of Default Interest) to, but not including, the Due Date immediately preceding the Determination Date for the related
Distribution Date in which such Purchase Price is included in the Available Distribution Amount; plus

 

(iii)        all
related Servicing Advances that have not been reimbursed out of collections from such Mortgage Loan (or any related REO Loan)
and accrued and unpaid interest on related Advances at the Reimbursement Rate, and any Special Servicing Fees (whether paid or
unpaid), and all additional Trust Fund expenses (except for Liquidation Fees) in respect of such Mortgage Loan (or any related
REO Loan (including for such purpose, to the extent required pursuant to the final paragraph hereof, the related Companion Loan));
plus

 

(iv)        if
such Mortgage Loan (or any related REO Loan) is being repurchased or substituted by the related Mortgage Loan Seller, pursuant
to Section 6 of the applicable Mortgage Loan Purchase Agreement, all reasonable out-of-pocket expenses reasonably incurred
or to be incurred by the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee in
respect of the Breach or Defect giving rise to the repurchase or substitution obligation, including any expenses arising out of
the enforcement of the repurchase or substitution obligation, including, without limitation, legal fees and expenses and any expenses
of the Trust Fund relating to such Mortgage Loan (or any related REO Loan); plus

 

(v)         Liquidation
Fees, if any, payable with respect to such Mortgage Loan (or any related REO Loan) (which will not include any Liquidation Fees
if such repurchase occurs prior to the expiration of the Extended Cure Period).

 

Solely
with respect to any Serviced Whole Loan to be sold pursuant to Section 3.18(a)(iii), “Purchase Price”
shall mean the amount calculated in accordance with the preceding sentence in respect of the related Whole Loan, including, for
such purposes, the Mortgage Loan and the related Companion Loan. With respect to any REO Property to be sold pursuant to Section 3.18(b),
“Purchase Price” shall mean the amount calculated in accordance with the second preceding sentence in respect
of the related REO Loan (including any related Companion Loan). With respect to any sale pursuant to Section 3.18(a)(ii)
or Section 3.18(e) or for purposes of calculating any Gain-on-Sale Proceeds, the “Purchase Price”
shall be allocated between the related Mortgage Loan and Companion Loan in accordance with, and shall be equal to the amount provided
pursuant to, the provisions of the related Intercreditor Agreement. Notwithstanding the foregoing, with respect to any repurchase
pursuant to subclause (A) and subclause (C) hereof, the “Purchase Price” shall not include any amounts
payable in respect of any related Companion Loan.

    	-77-

    	 

    

 

“Qualified
Institutional Buyer”: A “qualified institutional buyer” as defined in Rule 144A under the Act. 

 

“Qualified
Insurer”: (i) With respect to any Mortgage Loan, REO Loan or REO Property, an insurance company or security or
bonding company qualified to write the related Insurance Policy in the relevant jurisdiction with an insurance financial strength
rating of at least: (a) “A3” by Moody’s (or, if not rated by Moody’s, an equivalent rating by (A) two
other NRSROs (which may include Morningstar and/or Fitch) or (B) one NRSRO (which may include Morningstar and/or Fitch) and A.M.
Best Company, Inc.) and (b) “A-“ by Fitch (or, if not rated by Fitch, at least “A-“ by one other nationally
recognized insurance rating organization (which may include Moody’s and/or Morningstar) and (ii) with respect to the
fidelity bond and errors and omissions insurance policy required to be maintained pursuant to Section 3.07(c), except
as otherwise permitted by Section 3.07(c), an insurance company that has a claims paying ability (or the obligations
which are guaranteed or backed by a company having such claims paying ability) rated by at least one of the following Rating Agencies
of at least (a) “A3” by Moody’s, (b) “A-” by S&P, (c) “A-” by Fitch, (d) “A-:X”
by A.M. Best Company, Inc. or (e) “A(low)” by DBRS, or, in the case of clauses (i) or (ii),
any other insurer acceptable to the Rating Agencies, as evidenced by a Rating Agency Confirmation.

 

“Qualified
Replacement Special Servicer”: A replacement special servicer that (i) satisfies all of the eligibility requirements
applicable to special servicers contained in this Agreement, (ii) is not an Affiliate of the Senior Trust Advisor, (iii) is
not obligated to pay the Senior Trust Advisor (x) any fees or otherwise compensate the Senior Trust Advisor in respect of
its obligations under this Agreement, and (y) for the appointment of the successor special servicer or the recommendation by the
Senior Trust Advisor for the replacement Special Servicer to become the Special Servicer, (iv) is not entitled to receive
any compensation from the Senior Trust Advisor other than compensation that is not material and is unrelated to the Senior Trust
Advisor’s recommendation that such party be appointed as the replacement special servicer, (v) is not entitled to receive
any fee from the Senior Trust Advisor for its appointment as successor special servicer, in each case, unless expressly approved
by 100% of the Certificateholders, (vi) is not a special servicer that has been cited by Moody’s as having servicing concerns
as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a rating downgrade or withdrawal) of securities in a transaction serviced by the applicable servicer prior
to the time of determination, (vii) currently has a special servicer rating of at least “CSS3” from Fitch and (viii) (a) is
acting as special servicer in a commercial mortgage loan securitization that was rated by a Rating Agency within the twelve (12)
month period prior to the date of determination and (b) Morningstar has not qualified, downgraded or withdrawn the then-current
rating or ratings of one or more classes of certificates citing servicing concerns with the special servicer as the sole or material
factor in such rating action.

 

“Qualified
Substitute Mortgage Loan”: A substitute mortgage loan (other than with respect to the One City Centre Mortgage Loan,
the JAGR Portfolio Mortgage Loan, the Horizon Outlet Shoppes Portfolio Mortgage Loan or Marriott-Pittsburgh Mortgage Loan, as
applicable, for which no substitution will be permitted) replacing a deleted Mortgage Loan that must, on the date of substitution:
(i) have an outstanding principal balance, after application of all scheduled payments of principal and interest due during
or prior to the month of substitution, 

    	-78-

    	 

    

whether or not received, not in excess of the Stated Principal Balance of the deleted Mortgage
Loan as of the Due Date in the calendar month during which the substitution occurs; (ii) have a Mortgage Rate not less than
the Mortgage Rate of the deleted Mortgage Loan; (iii) have the same Due Date as and grace period no longer than that of the
deleted Mortgage Loan; (iv) accrue interest on the same basis as the deleted Mortgage Loan (for example, on the basis of
a 360 day year consisting of twelve 30-day months); (v) have a remaining term to stated maturity not greater than, and not
more than two (2) years less than, the remaining term to stated maturity of the deleted Mortgage Loan; (vi) have a then-current
loan-to-value ratio equal to or less than the lesser of the loan-to-value ratio for the deleted Mortgage Loan as of the Closing
Date and 75%, in each case using the “value” for the Mortgaged Property as determined using an MAI appraisal; (vii) comply
(except in a manner that would not be adverse to the interests of the Certificateholders) as of the date of substitution in all
material respects with all of the representations and warranties set forth in the applicable Mortgage Loan Purchase Agreement;
(viii) have an environmental report that indicates no material adverse environmental conditions with respect to the related
Mortgaged Property and which will be delivered as a part of the related Mortgage File; (ix) have a then-current debt service
coverage ratio at least equal to the greater of the original debt service coverage ratio of the deleted Mortgage Loan as of the
Closing Date and 1.25x; (x) constitute a “qualified replacement mortgage” within the meaning of Section 860G(a)(4)
of the Code as evidenced by an Opinion of Counsel (provided at the applicable Mortgage Loan Seller’s expense); (xi) not
have a maturity date or an amortization period that extends to a date that is after the date two (2) years prior to the Rated
Final Distribution Date; (xii) have comparable prepayment restrictions to those of the deleted Mortgage Loan; (xiii) not
be substituted for a deleted Mortgage Loan unless the Trustee and the Certificate Administrator have received Rating Agency Confirmation
from each Rating Agency (the cost, if any, of obtaining such Rating Agency Confirmation to be paid by the applicable Mortgage
Loan Seller); (xiv) have been approved, so long as a Control Event has not occurred and is not continuing, by the Directing
Certificateholder; (xv) prohibit defeasance within two (2) years of the Closing Date; (xvi) not be substituted
for a deleted Mortgage Loan if it would result in the termination of the REMIC status of either of the Trust REMICs established
under this Agreement or the imposition of tax on either of such Trust REMICs other than a tax on income expressly permitted or
contemplated to be imposed by the terms of this Agreement, as determined by an Opinion of Counsel; (xvii) have an engineering
report with respect to the related Mortgaged Property that will be delivered as a part of the related Servicing File; and (xviii) be
current in the payment of all scheduled payments of principal and interest then due. In the event that more than one mortgage
loan is substituted for a deleted Mortgage Loan, then the amounts described in clause (i) shall be determined on the
basis of aggregate Stated Principal Balances and each such proposed Qualified Substitute Mortgage Loan shall individually satisfy
each of the requirements specified in clauses (ii) through (xviii); provided that the rates described
in clause (ii) above and the remaining term to stated maturity referred to in clause (v) above shall be
determined on a weighted average basis; provided, further, that no individual Mortgage Rate (net of the Servicing
Fee Rate, the Certificate Administrator Fee Rate and the Senior Trust Advisor Fee Rate) shall be lower than the highest fixed
Pass-Through Rate (and not based on, or subject to a cap equal to, the Weighted Average Net Mortgage Rate) of any class of Principal
Balance Certificates having a Certificate Balance then outstanding. When a Qualified Substitute Mortgage Loan is substituted for
a deleted Mortgage Loan, the applicable Mortgage Loan Seller shall certify that the Qualified Substitute Mortgage Loan meets all
of the requirements of the 

    	-79-

    	 

    

above definition and shall send such certification to the Trustee, the Certificate Administrator and,
prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder.

 

“RAC
No-Response Scenario”: As defined in Section 3.30(a). 

 

“RAIT”:
RAIT Funding, LLC, and its successors in interest.

 

“RAIT
Financial Trust Guaranty”: That certain letter agreement dated as of June 30, 2015, by RAIT Financial Trust in favor
of the Depositor related to the Mortgage Loan Purchase Agreement entered into by RAIT.

 

“Rated
Final Distribution Date”: As to each Class of Certificates, the Distribution Date in May 2048.

 

“Rating
Agency”: Each of Moody’s, Fitch and Morningstar or their successors in interest. If no such rating agency nor
any successor thereof remains in existence, “Rating Agency” shall be deemed to refer to such nationally recognized
statistical rating agency or other comparable Person reasonably designated by the Depositor, notice of which designation shall
be given to the Trustee, the Certificate Administrator, the Special Servicer and the Master Servicer, and specific ratings of
Moody’s, Fitch and Morningstar herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Rating
Agency Confirmation”: With respect to any matter, confirmation in writing (which may be in electronic form) by each
applicable Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result
in the downgrade, withdrawal or qualification of the then-current rating assigned to any Class of Certificates (if then rated
by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating Agency indicating its decision
not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement for the
Rating Agency Confirmation from each Rating Agency with respect to such matter.

 

“Rating
Agency Inquiry”: As defined in Section 4.08(c).

 

“Rating
Agency Q&A Forum and Document Request Tool”: As defined in Section 4.08(c).

 

“RCMC”:
Redwood Commercial Mortgage Corporation, and its successors in interest.

 

“Record
Date”: With respect to any Distribution Date, the last Business Day of the month immediately preceding the month in
which such Distribution Date occurs.

 

“Regular
Certificates”: Any of the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB,
Class A-S, Class B, Class C, Class D, Class E, Class F, Class NR, Class X-A, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F and Class X-NR Certificates.

    	-80-

    	 

    

 

“Regulation AB”:
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 Commission or by the staff of the Commission,
or as may be provided by the Commission or its staff from time to time. 

 

“Regulation
AB Companion Loan Securitization”: As defined in Section 11.15(a).

 

“Regulation AB
Servicing Officer”: Any officer or employee of the Master Servicer or the Special Servicer, as applicable, involved
in, or responsible for, the administration and servicing of the Mortgage Loans or Companion Loans, or this Agreement and also,
with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s or employee’s
knowledge of and familiarity with the particular subject, and, in the case of any certification required to be signed by a Servicing
Officer, such an officer or employee whose name and specimen signature appears on a list of servicing officers furnished to the
Trustee and/or the Certificate Administrator by the Master Servicer or the Special Servicer, as applicable, as such list may from
time to time be amended.

 

“Regulation D”:
Regulation D under the Act.

 

“Regulation S”:
Regulation S under the Act.

 

“Regulation S
Book-Entry Certificates”: The Non-Registered Certificates sold to institutions that are non-United States Securities
Persons in Offshore Transactions in reliance on Regulation S and represented by one or more Book-Entry Non-Registered Certificates
deposited with the Certificate Administrator as custodian for the Depository.

 

“Reimbursement
Rate”: The rate per annum applicable to the accrual of interest on Servicing Advances in accordance with Section 3.03(d)
and P&I Advances in accordance with Section 4.03(d), which rate per annum shall equal the Prime Rate.

    	-81-

    	 

    

 

“Related
Certificates,” and “Related Uncertificated Lower-Tier Interests”: For each of the following Classes
of Certificates, the related Class of Uncertificated Lower-Tier Interests; and for the following Classes of Uncertificated Lower-Tier
Interests or the related Class of Certificates, as applicable, set forth below:

	 	 	 
	Related
                                         Certificates
	 	Related
                                         Uncertificated

                                         Lower-Tier Interest

	Class
    A-1 Certificates	 	Class
    LA1 Uncertificated Interest
	Class
    A-2 Certificates	 	Class
    LA2 Uncertificated Interest
	Class
    A-3A1 Certificates	 	Class
    LA3A1 Uncertificated Interest
	Class
    A-3A2 Certificates	 	Class
    LA3A2 Uncertificated Interest
	Class
    A-4 Certificates	 	Class
    LA4 Uncertificated Interest
	Class
    A-SB Certificates	 	Class
    LASB Uncertificated Interest
	Class
    A-S Certificates	 	Class
    LAS Uncertificated Interest
	Class
    B Certificates	 	Class
    LB Uncertificated Interest
	Class
    C Certificates	 	Class
    LC Uncertificated Interest
	Class
    D Certificates	 	Class
    LD Uncertificated Interest
	Class
    E Certificates	 	Class
    LE Uncertificated Interest
	Class
    F Certificates	 	Class
    LF Uncertificated Interest
	Class
    NR Certificates	 	Class
    LNR Uncertificated Interest

  

“Relevant
Servicing Criteria” means the Servicing Criteria applicable to a specific party, as set forth on Exhibit AA
attached hereto. For clarification purposes, multiple parties can have responsibility for the same Relevant Servicing Criteria.
With respect to a Servicing Function Participant engaged by the Trustee, the Certificate Administrator, the Master Servicer or
the Special Servicer, the term “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing Criteria
applicable to the Master Servicer, the Special Servicer, the Trustee and/or the Certificate Administrator.

 

“REMIC”:
A “real estate mortgage investment conduit” as defined in Section 860D of the Code (or any successor thereto).

 

“REMIC
Administrator”: The Certificate Administrator or any REMIC administrator appointed pursuant to Section 10.04.

 

“REMIC
Provisions”: 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 temporary and
final Treasury Regulations (or proposed regulations that would apply by reason of their proposed effective date to the extent
not inconsistent with temporary or final regulations) and any rulings or announcements promulgated thereunder, as the foregoing
may be in effect from time to time.

 

“Rents
from Real Property”: With respect to any REO Property, gross income of the character described in Section 856(d)
of the Code.

 

“REO
Account”: A segregated custodial account or accounts created and maintained by the Special Servicer pursuant to Section 3.16(b)
on behalf of the Trustee for the 

    	-82-

    	 

    

benefit of the Certificateholders and with respect to any Serviced Whole Loan, for the benefit
of the related Serviced Companion Noteholder, which shall initially be entitled “Midland Loan Services, a Division of PNC
Bank, National Association, or the applicable successor special servicer, as Special Servicer, on behalf of Wilmington Trust,
National Association, as Trustee, for the benefit of registered holders of JPMBB Commercial Mortgage Securities Trust 2015-C29,
Commercial Mortgage Pass-Through Certificates, Series 2015-C29, REO Account”. Any such account or accounts shall be
an Eligible Account.

 

“REO
Acquisition”: The acquisition for federal income tax purposes of any REO Property pursuant to Section 3.09.

 

“REO
Disposition”: The sale or other disposition of the REO Property pursuant to Section 3.18.

 

“REO
Extension”: As defined in Section 3.16(a).

 

“REO
Loan”: Each of the Mortgage Loans (and, with respect to any Serviced Whole Loan, or the related Companion Loan, as applicable),
deemed for purposes hereof to be outstanding with respect to each REO Property. Each REO Loan shall be deemed to be outstanding
for so long as the applicable portion of the related REO Property (or beneficial interest therein, in the case of a Non-Serviced
Mortgage Loan) remains part of the Trust Fund and provides for Assumed Scheduled Payments on each Due Date therefor, and otherwise
has the same terms and conditions as its predecessor Mortgage Loan
or Companion Loan, if applicable, including, without limitation, with respect to the calculation of the Mortgage Rate in effect
from time to time (such terms and conditions to be applied without regard to the default on such predecessor Mortgage Loan or
Companion Loan, if applicable). Each REO Loan shall be deemed to have an initial outstanding principal balance and Stated Principal
Balance equal to the outstanding principal balance and Stated Principal Balance, respectively, of its predecessor Mortgage Loan
or Companion Loan, if applicable, as of the date of the related REO Acquisition. All amounts due and owing in respect of the predecessor
Mortgage Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition, including, without limitation,
accrued and unpaid interest, shall continue to be due and owing in respect of a REO Loan. All amounts payable or reimbursable
to the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Certificate Administrator or the Trustee, as applicable,
in respect of the predecessor Mortgage Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition, including,
without limitation, any unpaid Special Servicing Fees and Servicing Fees, additional Trust Fund expenses and any unreimbursed
Advances, together with any interest accrued and payable to the Master Servicer or the Trustee, as applicable, in respect of such
Advances in accordance with Section 3.03(d) or Section 4.03(d), shall continue to be payable or reimbursable
to the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Certificate Administrator or the Trustee, as applicable,
in respect of an REO Loan. In addition, Unliquidated Advances and Nonrecoverable Advances with respect to such REO Loan, in each
case, that were paid from collections on the related Mortgage Loans and resulted in principal distributed to the Certificateholders
being reduced as a result of the first proviso in the definition of “Principal Distribution Amount” shall be deemed
outstanding until recovered. Notwithstanding anything to the contrary, with respect to each Serviced Whole Loan, no amounts relating
to the related REO Property or REO Loan allocable to the related Serviced Pari 

    	-83-

    	 

    

Passu Companion Loan, will be available for amounts
due to the Certificateholders or to reimburse the Trust, other than in the limited circumstances related to Servicing Advances,
indemnification payments, Special Servicing Fees and other reimbursable expenses related to such Serviced Whole Loan incurred
with respect to such Serviced Whole Loan, in accordance with Section 3.05(a), or with respect to an AB Subordinate
Companion Loan, as set forth in the related Intercreditor Agreement.

 

“REO
Property”: A Mortgaged Property acquired by the Special Servicer on behalf of, and in the name of, the Trustee or a
nominee thereof for the benefit of the Certificateholders (and the related Companion Holder, subject to the related Intercreditor
Agreement, with respect to a Mortgaged Property securing a Serviced Whole Loan) to the extent set forth herein and the Trustee
(as holder of the Uncertificated Lower-Tier Interests) (and also including, if applicable, the Trust Fund’s beneficial interest
in a Non-Serviced Mortgaged Property acquired by the applicable Non-Serviced Special Servicer on behalf of, and in the name of,
the applicable Non-Serviced Trustee or a nominee thereof for the benefit of the certificateholders under the applicable Non-Serviced
Trust) 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 a Mortgage Loan. References herein to the Special Servicer acquiring, maintaining, managing,
inspecting, insuring, selling or reporting or to Appraisal Reductions and Final Recovery Determinations with respect to an “REO
Property”, shall not include the Trust Fund’s beneficial interest in a Non-Serviced Mortgaged Property. For the avoidance
of doubt, REO Property, to the extent allocable to a Companion Loan, shall not be an asset of the Trust Fund, any Trust REMIC
or the Grantor Trust.

 

“REO
Revenues”: All income, rents and profits derived from the ownership, operation or leasing of any REO Property.

 

“Reportable
Event”: As defined in Section 11.07.

 

“Reporting
Requirements”: As defined in Section 11.12.

 

“Reporting
Servicer”: The Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Senior Trust Advisor,
the Custodian or any Servicing Function Participant engaged by such parties, as the case may be.

 

“Repurchase
Request”: As defined in Section 2.02(g).

 

“Repurchase
Request Recipient”: As defined in Section 2.02(g).

 

“Request
for Release”: A release signed by a Servicing Officer of the Master Servicer or the Special Servicer, as applicable,
in the form of Exhibit E attached hereto.

 

“Requesting
Holders”: As defined in Section 4.05(b).

 

“Requesting
Party”: As defined in Section 3.30(a).

 

“Residual
Ownership Interest”: Any record or beneficial interest in the Class R Certificates.

    	-84-

    	 

    

 

“Responsible
Officer”: When used with respect to (i) the Trustee, any officer of the Corporate Trust Office of the Trustee with
direct responsibility for the administration of this Agreement and, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject and (ii) the
Certificate Administrator, any officer assigned to the Corporate Trust Services group with direct responsibility for the administration
of this Agreement and, with respect to a particular matter, any other officer to whom a particular matter is referred by the Certificate
Administrator because of such officer’s knowledge of and familiarity with the particular subject.

 

“Restricted
Period”: The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which Certificates
are first offered to Persons other than the Initial Purchasers or Underwriters and any other distributor (as such term is defined
in Regulation S) of the Certificates and (b) the Closing Date.

 

“Retained
Fee Rate”: An amount equal to 0.0025% per annum with respect to each Mortgage Loan.

 

“Review
Package”: A Rating Agency Confirmation request and any supporting documentation delivered therewith. 

 

“RTI”:
Redwood Trust, Inc., and its successors in interest.

 

“Rule 144A”:
Rule 144A under the Act.

 

“Rule 144A
Book-Entry Certificate”: With respect to the Non-Registered Certificates offered and sold in reliance on Rule 144A,
a single, permanent Book-Entry Certificate, in definitive, fully registered form without interest coupons.

 

“S&P”:
Standard & Poor’s Ratings Services, and its successors in interest. If neither S&P nor any successor remains in
existence, “S&P” shall be deemed to refer to such other nationally recognized statistical rating agency or other
comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate
Administrator, the Master Servicer, the Directing Certificateholder and the Special Servicer and specific ratings of S&P herein
referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Sarbanes-Oxley
Act” means the Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including
any interpretations thereof by the Commission’s staff).

 

“Sarbanes-Oxley
Certification”: As defined in Section 11.05(a)(iv).

 

“Scheduled
Principal Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the principal
portions of the following: (a) all Monthly Payments (excluding Balloon Payments) due in respect of such Mortgage Loans during
or, if and to the extent not previously received or advanced pursuant to Section 4.03 in respect of a preceding Distribution
Date (and not previously distributed to Certificateholders), prior to, the related Due Period, and all Assumed Scheduled Payments
with respect to the Mortgage Loans 

    	-85-

    	 

    

for the related Due Period, in each case to the extent either (i) paid by the Mortgagor
as of the Determination Date (or, with respect to each Mortgage Loan with a Due Date occurring or a grace period ending after
the related Determination Date, the related Due Date or last day of such grace period, as applicable, to the extent received by
the Master Servicer as of the Business Day preceding the related P&I Advance Date) or (ii) advanced by the Master Servicer
or the Trustee, as applicable, pursuant to Section 4.03 in respect of such Distribution Date, and (b) all Balloon
Payments with respect to the Mortgage Loans to the extent received on or prior to the related Determination Date (or, with respect
to each Mortgage Loan with a Due Date occurring or a grace period ending after the related Determination Date, the related Due
Date or last day of such grace period, as applicable, to the extent received by the Master Servicer as of the Business Day preceding
the related P&I Advance Date), and to the extent not included in clause (a) above.

 

“Securities
Act”: The Securities Act of 1933, as it may be amended from time to time.

 

“Security
Agreement”: With respect to any Mortgage Loan, any security agreement or equivalent instrument, whether contained in
the related Mortgage or executed separately, creating in favor of the holder of such Mortgage a security interest in the personal
property constituting security for repayment of such Mortgage Loan. 

 

“Senior
Certificate”: Any Class A (other than the Class A-S Certificates) or Class X Certificate.

 

“Senior
Trust Advisor”: Pentalpha Surveillance LLC, and its successors in interest and assigns, or any successor senior trust
advisor appointed as herein provided.

 

“Senior
Trust Advisor Annual Report”: As defined in Section 3.31(c).

 

“Senior
Trust Advisor Consulting Fee”: A fee for each Major Decision on which the Senior Trust Advisor has consulting obligations
and performed its duties with respect to such Major Decision equal to $10,000 with respect to any Mortgage Loan or such lesser
amount as the related Mortgagor agrees to pay, payable pursuant to Section 3.05 of this Agreement; provided,
however, that no such fee shall be payable unless specifically paid by the related Mortgagor as a separately identifiable
fee; provided, further, that the Senior Trust Advisor may in its sole discretion reduce the Senior Trust Advisor
Consulting Fee with respect to any Major Decision; provided, further, that the Master Servicer or Special Servicer,
as applicable, may waive or reduce the amount of any Senior Trust Advisor Consulting Fee payable by the related Mortgagor if it
determines that such full or partial waiver is in accordance with the Servicing Standard (provided that the Master Servicer
or the Special Servicer, as applicable, shall consult, on a non-binding basis, with the Senior Trust Advisor prior to any such
waiver or reduction).

 

“Senior
Trust Advisor Expenses”: With respect to any Distribution Date, an amount equal to any unreimbursed indemnification
amounts or additional Trust Fund expenses payable to the Senior Trust Advisor pursuant to this Agreement (other than the Senior
Trust Advisor Fee and the Senior Trust Advisor Consulting Fee).

    	-86-

    	 

    

 

“Senior
Trust Advisor Fee”: With respect to each Mortgage Loan or REO Loan (other than the portion of an REO Loan related to
any Serviced Companion Loan), the fee payable to the Senior Trust Advisor pursuant to Section 3.31(h).

 

“Senior
Trust Advisor Fee Rate”: With respect to each Interest Accrual Period related to any applicable Distribution Date, a
per annum rate of 0.00210%.

 

“Serviced
AB Mortgage Loan”: For the avoidance of doubt, there are no Serviced AB Mortgage Loans related to the Trust.

 

“Serviced
AB Whole Loan”: For the avoidance of doubt, there are no Serviced AB Whole Loans related to the Trust.

 

“Serviced
Companion Loan”: Each of (a) the One City Centre Pari Passu Companion Loan, (b) the JAGR Portfolio Pari Passu Companion
Loan, (c) the Marriott-Pittsburgh Pari Passu Companion Loan and (d) any AB Subordinate Companion Loan related to a Serviced AB
Whole Loan, as applicable.

 

“Serviced
Companion Loan Securities”: Any class of securities backed, wholly or partially, by any Serviced Pari Passu Companion
Loan. 

“Serviced
Companion Noteholder”: Each of the holders of (a) the One City Centre Pari Passu Companion Loan, (b) the JAGR
Portfolio Pari Passu Companion Loan, (c) the Marriott-Pittsburgh Pari Passu Companion Loan and (d) any AB Subordinate
Companion Loan related to a Serviced AB Whole Loan, as applicable.

 

“Serviced
Mortgage Loan”: Each of (a) the One City Centre Mortgage Loan, (b) the JAGR Portfolio Mortgage Loan, (c) the Marriott-Pittsburgh
Mortgage Loan and (d) any AB Subordinate Mortgage Loan related to a Serviced AB Whole Loan, as applicable.

 

“Serviced
Pari Passu Companion Loan”: Each of (a) the One City Centre Pari Passu Companion Loan, (b) the JAGR Portfolio
Pari Passu Companion Loan and (c) the Marriott-Pittsburgh Pari Passu Companion Loan.

 

“Serviced
Pari Passu Mortgage Loan”: Each of (a) the One City Centre Mortgage Loan, (b) the JAGR Portfolio Mortgage Loan and (c)
the Marriott-Pittsburgh Mortgage Loan.

 

“Serviced
Pari Passu Whole Loan”: Each of (a) the One City Centre Whole Loan, (b) the JAGR Portfolio Whole Loan and (c) the Marriott-Pittsburgh
Whole Loan.

 

“Serviced
Securitized Companion Loan”: Any Companion Loan that is a component of a Serviced Whole Loan, if and for so long as
each such Companion Loan is included in a Regulation AB Companion Loan Securitization.

 

“Serviced
Whole Loan”: Each of (a) the One City Centre Whole Loan, (b) the JAGR Portfolio Whole Loan and (c) the Marriott-Pittsburgh
Whole Loan.

    	-87-

    	 

    

 

“Serviced
Whole Loan Controlling Holder”: The “Controlling Noteholder” or similar term identified in the Intercreditor
Agreement related to a Serviced Whole Loan.

 

“Serviced
Whole Loan Remittance Date”: With respect to any Serviced Companion Loan, the earlier of (A) two (2) Business Days prior
to the related distribution date in each calendar month for each Other Securitization that includes such Serviced Companion Loan
or (B) the fifteenth (15th) day of each calendar month (or, if the fifteenth (15th) calendar day of that month is not
a Business Day, then the Business Day immediately succeeding such fifteenth (15th) calendar day), or such earlier date as
required by the related Intercreditor Agreement; provided, however, such Serviced Whole Loan Remittance Date shall
not be earlier than two (2) Business Days following the date the Master Servicer receives the related Monthly Payment with respect
to such Serviced Whole Loan.

 

“Servicer
Termination Event”: One or more of the events described in Section 7.01(a).

 

“Servicing
Account”: The account or accounts created and maintained pursuant to Section 3.03(a).

 

“Servicing
Advances”: All customary, reasonable and necessary “out of pocket” costs and expenses (including attorneys’
fees and expenses and fees of real estate brokers) incurred by the Master Servicer, the Special Servicer, Certificate Administrator,
or the Trustee, as applicable, in connection with the servicing and administering of (a) a Mortgage Loan (and in the case
of a Serviced Mortgage Loan, the related Serviced Companion Loan), other than a Non-Serviced Mortgage Loan, in respect of which
a default, delinquency or other unanticipated event has occurred or as to which a default is reasonably foreseeable or (b) an
REO Property, including, in the case of each of such clause (a) and clause (b), but not limited to, (x) the
cost of (i) compliance with the Master Servicer’s obligations set forth in Section 3.03(c), (ii) the
preservation, restoration and protection of a Mortgaged Property, (iii) obtaining any Insurance and Condemnation Proceeds
or any Liquidation Proceeds of the nature described in clauses (i) – (vi) of the definition of “Liquidation
Proceeds,” (iv) any enforcement or judicial proceedings with respect to a Mortgaged Property, including foreclosures
and (v) the operation, leasing, management, maintenance and liquidation of any REO Property and (y) any amount specifically
designated herein to be paid as a “Servicing Advance”. Notwithstanding anything to the contrary, “Servicing
Advances” shall not include allocable overhead of the Master Servicer or the Special Servicer, such as costs for office
space, office equipment, supplies and related expenses, employee salaries and related expenses and similar internal costs and
expenses or costs and expenses incurred by any such party in connection with its purchase of a Mortgage Loan or REO Property.
None of the Master Servicer, the Special Servicer nor the Trustee shall make any Servicing Advance in connection with the exercise
of any cure rights or purchase rights granted to the holder of a Companion Loan under the related Intercreditor Agreement or this
Agreement.

 

“Servicing
Criteria”: The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended
from time to time and which as of the Closing Date are listed on Exhibit AA hereto.

    	-88-

    	 

    

 

“Servicing
Fee”: With respect to each Mortgage Loan (including any Non-Serviced Mortgage Loans), Serviced Companion Loan and any
REO Loan, the fee payable to the Master Servicer pursuant to the first paragraph of Section 3.11(a).

 

“Servicing
Fee Rate”: With respect to each Mortgage Loan and REO Loan, a per annum rate equal to the rate set forth
on the Mortgage Loan Schedule under the heading “Servicing Fee Rate”, in each case computed on the basis of the Stated
Principal Balance of the related Mortgage Loan or REO Loan in the same manner in which interest is calculated in respect of such
loans. With respect to the One City Centre Pari Passu Companion Loan, the “Servicing Fee Rate” shall be a per annum
rate equal to 0.01250%. With respect to the JAGR Portfolio Pari Passu Companion Loan, the “Servicing Fee Rate”
shall be a per annum rate equal to 0.00250%. With respect to the Marriott-Pittsburgh Pari Passu Companion Loan, the “Servicing
Fee Rate” shall be a per annum rate equal to 0.00250%.

 

“Servicing
File”: A photocopy of all items required to be included in the Mortgage File, together with each of the following, to
the extent such items were actually delivered to the related Mortgage Loan Seller, with respect to a Mortgage Loan and (to the
extent that the identified documents existed on or before the Closing Date and the applicable reference to Servicing File relates
to any period after the Closing Date) delivered by the related Mortgage Loan Seller, to the Master Servicer: (i) a copy of
any engineering reports or property condition reports; (ii) other than with respect to a hotel property (except with respect
to tenanted commercial space within a hotel property), copies of a rent roll and, for any office, retail, industrial or warehouse
property, a copy of all leases and estoppels and subordination and non-disturbance agreements delivered to the related Mortgage
Loan Seller; (iii) copies of related financial statements or operating statements; (iv) all legal opinions (excluding
attorney-client communications between the related Mortgage Loan Seller, and its counsel that are privileged communications or
constitute legal or other due diligence analyses), Mortgagor’s certificates and certificates of hazard insurance and/or
hazard insurance policies or other applicable insurance policies, if any, delivered in connection with the closing of the related
Mortgage Loan; (v) a copy of the Appraisal for the related Mortgaged Property(ies); (vi) the documents that were delivered
by or on behalf of the Mortgagor, which documents were required to be delivered in connection with the closing of the related
Mortgage Loan; (vii) for any Mortgage Loan that the related Mortgaged Property is leased to a single tenant, a copy of the
lease; and (viii) a copy of all environmental reports that were received by the applicable Mortgage Loan Seller, relating
to the relevant Mortgaged Property.

 

“Servicing
Function Participant”: Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Master
Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor and the Certificate Administrator, that is performing activities
that address the Servicing Criteria, unless (i) such Person’s activities relate only to 5% or less of the Mortgage
Loans by unpaid principal balance as of any date of determination in accordance with Article XI or (ii) the Depositor
reasonably determines that a Master Servicer or the Special Servicer may, for the purposes of the Exchange Act reporting requirements
pursuant to applicable Commission guidance, take responsibility for the assessment of compliance with the Servicing Criteria of
such Person. The Servicing Function Participants as of the Closing Date are listed on Exhibit GG hereto. Exhibit GG
shall be updated and provided to the Depositor and the Certificate Administrator in accordance with Section 11.10(c).

    	-89-

    	 

    

 

“Servicing
Officer”: Any officer and/or employee of the Master Servicer, the Special Servicer or any Additional Servicer involved
in, or responsible for, the administration and servicing of the Mortgage Loans or Serviced Companion Loans, whose name and specimen
signature appear on a list of servicing officers furnished by the Master Servicer, the Special Servicer or any Additional Servicer
to the Certificate Administrator, the Trustee, the Senior Trust Advisor and the Depositor on the Closing Date as such list may
be amended from time to time thereafter.

 

“Servicing
Standard”: As defined in Section 3.01(a).

 

“Servicing
Transfer Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or related Companion Loan,
the occurrence of any of the following events:

 

(i)          with
respect to a Mortgage Loan or Companion Loan that is not a Balloon Mortgage Loan, (a) a payment default shall have occurred
at its original Maturity Date, or (b) if the original Maturity Date of such Mortgage Loan or Companion Loan has been extended
as provided herein, a payment default shall have occurred at such extended Maturity Date; or

 

(ii)         with
respect to each Mortgage Loan or Companion Loan that is a Balloon Mortgage Loan, the Balloon Payment is delinquent and the
related Mortgagor has not provided the Master Servicer, within sixty (60) days after the related Maturity Date, with a
written and fully executed or otherwise binding commitment (subject only to customary final closing conditions) for
refinancing, from an acceptable lender, reasonably satisfactory in form and substance to the Master Servicer (and the Master
Servicer shall promptly forward such commitment to the Special Servicer), which provides that such refinancing will occur
within one hundred-twenty (120) days of such related Maturity Date, provided that the Mortgage Loan and any related
Companion Loan will become a Specially Serviced Mortgage Loan immediately if the related Mortgagor fails to diligently pursue
such financing or to pay any Assumed Scheduled Payment on the related Due Date (subject to any applicable grace period) at
any time before the refinancing or, if such refinancing does not occur, the related Mortgage Loan and any related Companion
Loan will become a Specially Serviced Mortgage Loan at the end of such 120-day period (or for such shorter period beyond the
date on which that Balloon Payment was due within which the refinancing is scheduled to occur pursuant to the commitment for
refinancing or on which such commitment terminates); or

 

(iii)        any
Monthly Payment (other than a Balloon Payment) that is more than sixty (60) days delinquent (unless, in the case of a Serviced
Whole Loan or Mortgage Loan with mezzanine debt, prior to such Monthly Payment becoming more than sixty (60) days delinquent the
holders of the related Companion Loan or the holders of related mezzanine debt, as applicable, cures such delinquency, subject
to the terms and provisions of the related Intercreditor Agreement); or

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(iv)        the
Master Servicer makes a judgment, or receives from the Special Servicer a written determination of the Special Servicer (with
the consent, prior to the occurrence and continuance of any Control Event, of the Directing Certificateholder, in the case of
the Special Servicer), that a payment default is imminent or reasonably foreseeable and is not likely to be cured by the related
Mortgagor within sixty (60) days; or

 

(v)         a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law, or the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up
or liquidation of its affairs, is entered against the related Mortgagor; provided that if such decree or order is discharged
or stayed within sixty (60) days of being entered, or if, as to a bankruptcy, the automatic stay is lifted within sixty (60) days
of a filing for relief or the case is dismissed, upon such discharge, stay, lifting or dismissal such Mortgage Loan (and any related
Companion Loan), shall no longer be a Specially Serviced Mortgage Loan (and no Special Servicing Fees, Workout Fees or Liquidation
Fees will be payable with respect thereto and any such fees actually paid shall be reimbursed to the Trust Fund by the Special
Servicer); or

 

(vi)        the
related Mortgagor shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment
of debt, marshaling of assets and liabilities or similar proceedings
of or relating to such Mortgagor or of or relating to all or substantially all of its property; or

 

(vii)        the
related Mortgagor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily
suspend payment of its obligations; or

 

(viii)       a
default of which the Master Servicer or the Special Servicer, as applicable, has notice (other than a failure by such Mortgagor
to pay principal or interest) and which the Master Servicer or Special Servicer (in the case of the Special Servicer, prior to
the occurrence and continuance of any Control Event, with the consent of the Directing Certificateholder) determines in its good
faith reasonable judgment may materially and adversely affect the interests of the Certificateholders (and, with respect to any
Serviced Whole Loan, the interests of the related Serviced Companion Noteholder), as a collective whole (taking into account the
subordinate or pari passu nature of any Companion Loans, as the case may be), if applicable, has occurred and remained
unremedied for the applicable grace period specified in the related Mortgage Loan or related Companion Loan documents, other than
the failure to maintain terrorism insurance if such failure constitutes an Acceptable Insurance Default (or if no grace period
is specified for those defaults which are capable of cure, sixty (60) days); or

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(ix)         the
Master Servicer or Special Servicer has received notice of the foreclosure or proposed foreclosure of any lien other than the
Mortgage on the related Mortgaged Property; or

 

(x)          the
Master Servicer or Special Servicer (in the case of the Special Servicer, prior to the occurrence and continuance of any Control
Event, with the consent of the Directing Certificateholder) determines that (i) a default (other than as described in clause (iv)
above) under a Mortgage Loan or related Companion Loan is imminent or reasonably foreseeable, (ii) such default will
materially impair the value of the corresponding Mortgaged Property as security for the Mortgage Loan and related Companion Loan
(if any) or otherwise materially adversely affect the interests of Certificateholders (and, with respect to any Serviced Whole
Loan, the interests of the related Serviced Companion Noteholder), as a collective whole (taking into account the subordinate
or pari passu nature of any Companion Loans, as the case may be), and (iii) the default will continue unremedied for
the applicable cure period under the terms of the Mortgage Loan or related Companion Loan or, if no cure period is specified and
the default is capable of being cured, for thirty (30) days (provided that such 30-day grace period does not apply to a
default that gives rise to immediate acceleration without application of a grace period under the terms of the Mortgage Loan or
related Companion Loan; provided that any determination that a Servicing Transfer Event has occurred under this clause (x)
with respect to any Mortgage Loan or related Companion Loan solely by reason of the failure (or imminent failure) of the related
Mortgagor to maintain or cause to be maintained insurance coverage
against damages or losses arising from acts of terrorism may only be made by the Special Servicer (prior to the occurrence and
continuance of any Control Event, with the consent of the Directing Certificateholder);

 

provided
that any Mortgage Loan (excluding the Non-Serviced Mortgage Loans) that is cross-collateralized with a Specially Serviced
Mortgage Loan shall be a Specially Serviced Mortgage Loan so long as such Mortgage Loan is cross-collateralized with a Specially
Serviced Mortgage Loan. If any Serviced Companion Loan becomes a Specially Serviced Mortgage Loan, the related Serviced Mortgage
Loan shall also become a Specially Serviced Mortgage Loan. If any Serviced Mortgage Loan becomes a Specially Serviced Mortgage
Loan, the related Serviced Companion Loan shall also become a Specially Serviced Mortgage Loan. With respect to a Non-Serviced
Mortgage Loan, the occurrence of a “Servicing Transfer Event” shall be as defined in the related Non-Serviced Pooling
Agreement.

 

“Significant
Obligor”: As defined in Section 11.16.

 

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is fifteen (15) days after the Distribution Date occurring on or immediately following the
45th day after the end of such calendar quarter.

 

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after the end
of such calendar year.

    	-92-

    	 

    

 

“Similar
Law”: As defined in Section 5.03(m).

 

“SMF
II”: Starwood Mortgage Funding II LLC, a Delaware limited liability company, and its successors in interest.

 

“Sole
Certificateholder”: Any Certificate Owner, or Certificate Owners acting in unanimity, of a Book-Entry Certificate or
a Holder of a Definitive Certificate holding 100% of the then-outstanding Class X-E, Class X-F, Class X-NR, Class E,
Class F and Class NR Certificates; provided, however, that the Certificate Balances of the Class A-1,
Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class C, Class EC
and Class D Certificates have been retired.

 

“Special
Notice”: As defined in Section 5.06.

 

“Special
Servicer”: With respect to each of the Mortgage Loans (other than the Non-Serviced Mortgage Loans) and the Serviced
Companion Loans, Midland Loan Services, a Division of PNC Bank, National Association, and its successors in interest and assigns,
or any successor special servicer appointed as herein provided.

 

“Special
Servicing Fee”: With respect to each Specially Serviced Mortgage Loan and REO Loan (other than a Non-Serviced Mortgage
Loan), the fee payable to the Special Servicer pursuant to Section 3.11(b). 

 

“Special
Servicing Fee Rate”: With respect to each Specially Serviced Mortgage Loan and each REO Loan on a loan-by-loan basis
(other than a Non-Serviced Mortgage Loan), 0.25% per annum computed on the basis of the Stated Principal Balance of the
related Mortgage Loan and Companion Loan, as applicable (including any REO Loan), in the same manner as interest is calculated
on the Specially Serviced Mortgage Loans.

 

“Specially
Serviced Mortgage Loan”: As defined in Section 3.01(a).

 

“Startup
Day”: The day designated as such in Section 10.01(b).

 

“Starwood”:
Starwood Mortgage Capital LLC, a Delaware limited liability company, or its successors in interest.

 

“Stated
Principal Balance”: With respect to any Mortgage Loan, as of any date of determination, an amount equal to (x) the
Cut-off Date Principal Balance of such Mortgage Loan (or in the case of a Qualified Substitute Mortgage Loan, the unpaid principal
balance of such Mortgage Loan after application of all scheduled payments of principal and interest due during or prior to the
month of substitution, whether or not received), plus (y) any Mortgage Deferred Interest added to the principal balance
of such Mortgage Loan on or before the end of the immediately preceding Due Period minus (z) the sum of:

 

(i)          
the principal portion of each Monthly Payment due on such Mortgage Loan after the Cut-off Date (or in the case of a Qualified
Substitute Mortgage Loan, the Due Date in the related month of substitution), to the extent received from the Mortgagor or advanced
by the Master Servicer;

    	-93-

    	 

    

 

(ii)         
all Principal Prepayments received with respect to such Mortgage Loan after the Cut-off Date (or in the case of a Qualified Substitute
Mortgage Loan, the Due Date in the related month of substitution);

 

(iii)        
the principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on such Mortgage Loan and
Liquidation Proceeds received with respect to such Mortgage Loan after the Cut-off Date (or in the case of a Qualified Substitute
Mortgage Loan, the Due Date in the related month of substitution); and

 

(iv)        
any reduction in the outstanding principal balance of such Mortgage Loan resulting from a Deficient Valuation or a modification
of such Mortgage Loan pursuant to the terms and provisions of this Agreement that occurred prior to the end of the Due Period
for the most recent Distribution Date.

 

With
respect to any REO Loan that is a successor to a Mortgage Loan, as of any date of determination, an amount equal to (x) the
Stated Principal Balance of the predecessor Mortgage Loan as of the date of the related REO Acquisition, minus (y) the
sum of:

 

(i)          
the principal portion of any P&I Advance made with respect to such REO Loan; and 

 

(ii)         
the principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on the related Mortgage
Loan), Liquidation Proceeds and REO Revenues received with respect to such REO Loan.

 

A
Mortgage Loan or an REO Loan that is a successor to a Mortgage Loan shall be deemed to be part of the Trust Fund and to have an
outstanding Stated Principal Balance until the Distribution Date on which the payments or other proceeds, if any, received in
connection with a Liquidation Event in respect thereof are to be (or, if no such payments or other proceeds are received in connection
with such Liquidation Event, would have been) distributed to Certificateholders.

 

With
respect to each Companion Loan on any date of determination, the Stated Principal Balance shall equal the unpaid principal balance
of such Companion Loan as of such date. On any date of determination, the Stated Principal Balance of each Whole Loan shall be
the sum of the Stated Principal Balances of the related Mortgage Loan and the related Companion Loan(s) on such date.

 

With
respect to any REO Loan that is a successor to a Companion Loan as of any date of determination, the Stated Principal Balance
shall equal (x) the Stated Principal Balance of the predecessor Companion Loan as of the date of the related REO Acquisition,
minus (y) the principal portion of any amounts allocable to the related Companion Loan in accordance with the related Intercreditor
Agreement.

 

“Statement
to Certificateholders”: As defined in Section 4.02(a).

    	-94-

    	 

    

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of the Master
Servicer, the Special Servicer, the Senior Trust Advisor, an Additional Servicer or a Sub-Servicer.

 

“Subordinate
Certificate”: Any Class A-S, Class B, Class C, Class D, Class E, Class F and Class NR
Certificate.

 

“Sub-Servicer”:
Any Person that services Mortgage Loans on behalf of the Master Servicer, the Special Servicer or an Additional Servicer and is
responsible for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of the
material servicing functions required to be performed by the Master Servicer, the Special Servicer or an Additional Servicer under
this Agreement, with respect to some or all of the Mortgage Loans that are identified in Item 1122(d) of Regulation AB.

 

“Sub-Servicing
Agreement”: The written contract between the Master Servicer or the Special Servicer, as the case may be, and any Sub-Servicer
relating to servicing and administration of Mortgage Loans as provided in Section 3.22.

 

“Substitution
Shortfall Amount”: With respect to a substitution pursuant to Section 2.03(b) hereof, an amount equal
to the excess, if any, of the Purchase Price of the Mortgage Loan being replaced calculated as of the date of substitution
over the Stated Principal Balance of the related Qualified Substitute Mortgage Loan after application of all scheduled
payments of principal and interest due during or prior to the month of substitution. In the event that one or more Qualified
Substitute Mortgage Loans are substituted (at the same time by the same Mortgage Loan Seller) for one or more deleted
Mortgage Loans, the Substitution Shortfall Amount shall be determined as provided in the preceding sentence on the basis of
the aggregate Purchase Prices of the Mortgage Loan(s) being replaced and the aggregate Stated Principal Balances of the
related Qualified Substitute Mortgage Loan(s).

 

“Surviving
Entity”: As defined in Section 6.02(b).

 

“Tax
Returns”: The federal income tax returns on (i) Internal Revenue Service Form 1066, U.S. Real Estate Mortgage
Investment Conduit (REMIC) Income Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC
Taxable Income or Net Loss Allocation, or any successor forms, to be filed on behalf of each Trust REMIC due to its respective
classification as a REMIC under the REMIC Provisions and (ii) Internal Revenue Service Form 1041 or Internal Revenue
Service Form 1099, as applicable, or any successor forms to be filed on behalf of the Grantor Trust, together with any and
all other information, reports or returns that may be required to be furnished to the Certificateholders or filed with the Internal
Revenue Service or any other governmental taxing authority under any applicable provisions of federal tax law or Applicable State
and Local Tax Law.

 

“Temporary
Regulation S Book-Entry Certificate”: As defined in Section 5.02(a).

    	-95-

    	 

    

 

“Transfer”:
Any direct or indirect transfer, sale, pledge, hypothecation, or other form of assignment of any Ownership Interest in a Certificate.

 

“Transferable
Servicing Interest”: The amount by which the Servicing Fee otherwise payable to the Master Servicer hereunder exceeds
the sum of (i) the Primary Servicing Fee and (ii) the amount of the Servicing Fee calculated using the Retained Fee
Rate, which is subject to reduction by the Trustee pursuant to Section 3.11(a) of this Agreement.

 

“Transferee”:
Any Person who is acquiring by Transfer any Ownership Interest in a Certificate.

 

“Transferee
Affidavit”: As defined in Section 5.03(n)(ii).

 

“Transferor”:
Any Person who is disposing by Transfer any Ownership Interest in a Certificate.

 

“Transferor
Letter”: As defined in Section 5.03(n)(ii).

 

“Trust”:
The trust created hereby and to be administered hereunder. The Trust shall be named: “JPMBB Commercial Mortgage Securities
Trust 2015-C29”.

 

“Trustee”:
Wilmington Trust, National Association, or its successor in interest, in its capacity as trustee and its successors in interest,
or any successor trustee appointed as herein provided. 

 

“Trustee
Fee”: The fee to be paid to the Trustee as compensation for the Trustee’s activities under this Agreement, which
fee is included as part of the Certificate Administrator Fee. No portion of the Trustee Fee shall be calculated by reference to
any Companion Loan or the Stated Principal Balance of any Companion Loan. The Trustee Fee shall be equal to $210 per month and
shall be paid by the Certificate Administrator to the Trustee from the Certificate Administrator Fee.

 

“Trust
Fund”: The corpus of the trust created hereby and to be administered hereunder, consisting of: (i) such Mortgage
Loans as from time to time are subject to this Agreement (including any Qualified Substitute Mortgage Loan replacing a deleted
Mortgage Loan), together with the Mortgage Files relating thereto (subject to, in the case of a Serviced Whole Loan, the interests
of the related Serviced Companion Noteholder in the related Mortgage File); (ii) all scheduled or unscheduled payments on
or collections in respect of the Mortgage Loans due after the Cut-off Date (or with respect to a Qualified Substitute Mortgage
Loan, the Due Date in the month of substitution); (iii) any REO Property (to the extent of the Trust Fund’s interest
therein) or the Trust Fund’s beneficial interest in the Mortgaged Property securing a Non-Serviced Whole Loan acquired under
the related Non-Serviced Pooling Agreement; (iv) all revenues received in respect of any REO Property (to the extent of the
Trust Fund’s interest therein); (v) the Master Servicer’s, the Special Servicer’s, the Certificate Administrator’s
and the Trustee’s rights under the insurance policies with respect to the Mortgage Loans required to be maintained pursuant
to this Agreement and any proceeds thereof (to the extent of the Trust Fund’s interest therein); (vi) any Assignment
of Leases and any security agreements (to the extent of the Trust Fund’s interest therein); (vii) any letters of credit,
indemnities, guaranties or 

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lease enhancement policies given as additional security for any related Mortgage Loans (to the extent
of the Trust Fund’s interest therein); (viii) all assets deposited in the Servicing Accounts (to the extent of the
Trust Fund’s interest therein), amounts on deposit in the Certificate Account (to the extent of the Trust Fund’s interest
therein), the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Class EC Distribution
Account, the Interest Reserve Account, the Gain-on-Sale Reserve Account (to the extent of the Trust Fund’s interest in such
Gain-on-Sale Reserve Account) and any REO Account (to the extent of the Trust Fund’s interest in such REO Account), including
any reinvestment income, as applicable; (ix) any Environmental Indemnity Agreements (to the extent of the Trust Fund’s
interest therein); (x) the rights and remedies of the Depositor under each Mortgage Loan Purchase Agreement (to the extent
transferred to the Trustee); (xi) $100 to be deposited by the Depositor into the Upper-Tier REMIC Distribution Account on the
Closing Date in respect of the Class X-C Certificates; (xii) the Uncertificated Lower-Tier Interests; and (xiii) the
proceeds of the foregoing (other than any interest earned on deposits in the lock-box accounts, cash collateral accounts, escrow
accounts and any reserve accounts, to the extent such interest belongs to the related Mortgagor).

 

“Trust
REMIC”: As defined in the Preliminary Statement.

 

“UCC”:
The Uniform Commercial Code, as enacted in each applicable state.

 

“UCC
Financing Statement”: A financing statement prepared and filed pursuant to the UCC, as in effect in the relevant jurisdiction. 

 

“Uncertificated
Lower-Tier Interests”: Any of the Class LA1, Class LA2, Class LA3A1, Class LA3A2, Class LA4, Class LASB,
Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR Uncertificated Interests.

 

“Underwriters”:
J.P. Morgan Securities LLC, Barclays Capital Inc. and Drexel Hamilton.

 

“Uninsured
Cause”: Any cause of damage to property subject to a Mortgage such that the complete restoration of such property is
not fully reimbursable by the hazard insurance policies or flood insurance policies required to be maintained pursuant to Section 3.07.

 

“United
States Securities Person”: Any “U.S. person” as defined in Rule 902(k) of Regulation S.

 

“Unliquidated
Advance”: Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that
made the Advance hereunder, on the one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount
pursuant to subsections (iii) and (iv) of Section 3.05(a) but that has not been recovered from
the Mortgagor or otherwise from collections on or the proceeds of the related Mortgage Loan or REO Property in respect of which
the Advance was made.

 

“Unscheduled
Principal Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the following:
(a) all Principal Prepayments received on such Mortgage Loan on or prior to the Determination Date and (b) the principal
portions of all Liquidation Proceeds, Insurance and Condemnation Proceeds (net of Special 

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Servicing Fees, Liquidation Fees, accrued
interest on Advances and other additional Trust Fund expenses incurred in connection with the related Mortgage Loan) and, if applicable,
REO Revenues received with respect to such Mortgage Loan and any REO Loans on or prior to the related Determination Date, but
in each case only to the extent that such principal portion represents a recovery of principal for which no advance was previously
made pursuant to Section 4.03 in respect of a preceding Distribution Date.

 

“Upper-Tier
REMIC”: One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Uncertificated
Lower-Tier Interests, $100 to be deposited by the Depositor into the Upper-Tier REMIC Distribution Account on the Closing Date
and such amounts as shall from time to time be held in the Upper-Tier REMIC Distribution Account.

 

“Upper-Tier
REMIC Distribution Account”: The segregated account or accounts (or a subaccount of the Distribution Account) created
and maintained by the Certificate Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for
the Certificateholders, which shall initially be entitled “Wells Fargo Bank, National Association, as Certificate Administrator,
for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of JPMBB Commercial
Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Upper-Tier REMIC Distribution
Account”. Any such account or accounts shall be an Eligible Account.

 

“U.S.
Dollars” or “$”: Lawful money of the United States of America. 

 

“U.S.
Tax Person”: A citizen or resident of the United States, a corporation or partnership (except to the extent provided
in applicable Treasury Regulations) or other entity 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,
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. Tax Persons
have the authority to control all substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations,
certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Tax Persons).

 

“Voting
Rights”: The portion of the voting rights of all of the Certificates which is allocated to any Certificate. At all times
during the term of this Agreement, the Voting Rights shall be allocated among the various Classes of Certificateholders as follows:
(i) 2% in the case of the Class X Certificates (allocated pro rata, based upon their respective Notional Amounts as
of the date of determination) and (ii) in the case of any other Class of Regular Certificates (other than the Class X Certificates),
a percentage equal to the product of 98% and a fraction, the numerator of which is equal to the Certificate Balance (and solely
in connection with any vote for purposes of determining whether to remove the Special Servicer pursuant to Section 7.01(d)
or the Senior Trust Advisor pursuant to Section 3.31(i), taking into account any notional reduction in the Certificate
Balance for Appraisal Reductions allocated to the Certificates pursuant to Section 4.05(a) hereof) of such Class (without
giving effect to any exchange of the Exchangeable Certificates to Class EC Certificates), in each case, determined as of
the Distribution Date immediately preceding such time, and the denominator of which is equal to the

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 aggregate Certificate Balance
(and solely in connection with any vote for purposes of determining whether to remove the Special Servicer pursuant to Section 7.01(d)
or the Senior Trust Advisor pursuant to Section 3.31(i), taking into account any notional reduction in the Certificate
Balance for Appraisal Reductions allocated to the Certificates pursuant to Section 4.05(a) hereof) of the Certificates
(other than the Class R and Class X Certificates) (and without giving effect to any exchange of the Exchangeable Certificates
to Class EC Certificates), each determined as of the Distribution Date immediately preceding such time. The Class R
or Certificates will not be entitled to any Voting Rights. Voting Rights allocated to a Class of Certificateholders shall be allocated
among such Certificateholders in proportion to the Percentage Interests evidenced by their respective Certificates. In addition,
if Exchangeable Certificates are exchanged for Class EC Certificates, Certificateholders of such Class EC Certificates
will be entitled to exercise the Voting Rights that would otherwise be allocated to the Exchangeable Certificates converted for
such Class EC Certificates. Appraisal Reductions shall not result in a change in the Class Voting Rights of any Class of
Regular Certificates.

 

“Weighted
Average Net Mortgage Rate”: With respect to any Distribution Date, the weighted average of the applicable Net Mortgage
Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal
Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

 

“WHFIT”:
shall mean a “Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(22)
or successor provisions. 

 

“WHFIT
Regulations”: shall mean Treasury Regulations Section 1.671-5, as amended or successor provisions.

 

“WHMT”:
A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(23) or successor
provisions.

 

“Whole
Loan”: Any of (i) the One City Centre Whole Loan, (ii) the JAGR Portfolio Whole Loan, (iii) the Horizon Outlet Shoppes
Portfolio Whole Loan and (iv) the Marriott-Pittsburgh Whole Loan.

 

“Withheld
Amounts”: As defined in Section 3.25(a).

 

“Workout-Delayed
Reimbursement Amounts”: With respect to any Mortgage Loan, the amount of any Advances made with respect to such Mortgage
Loan on or before the date such Mortgage Loan becomes (or, but for the making of three Monthly Payments under its modified terms,
would then constitute) a Corrected Mortgage Loan, together with (to the extent accrued and unpaid) interest on such Advances,
to the extent that (i) such Advance (and accrued and unpaid interest thereon) is not reimbursed to the Person who made such
Advance on or before the date, if any, on which such Mortgage Loan becomes a Corrected Mortgage Loan and (ii) the amount
of such Advance (and accrued and unpaid interest thereon) becomes an obligation of the related Mortgagor to pay such amount under
the terms of the modified loan documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount

    	-99-

    	 

    

shall not in any manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes
a Nonrecoverable Advance.

 

“Workout
Fee”: The fee paid to the Special Servicer with respect to each Corrected Mortgage Loan in accordance with Section 3.11(c).

 

“Workout
Fee Rate”: With respect to each Corrected Mortgage Loan, a fee of 1.00% of each collection (other than Penalty Charges)
of interest and principal (other than any amount for which a Liquidation Fee would be paid), including (i) Monthly Payments,
(ii) Balloon Payments and (iii) payments (other than those included in clause (i) or (ii) of this
definition) at maturity, received on each Corrected Mortgage Loan for so long as it remains a Corrected Mortgage Loan.

 

“Yield
Maintenance Charge”: With respect to any Mortgage Loan or REO Loan, the yield maintenance charge or prepayment premium
set forth in the related Mortgage Loan documents; provided that no amounts shall be considered Yield Maintenance Charges
until there has been a full recovery of all principal, interest and other amounts then due under such Mortgage Loan or REO Loan.

 

“YM
Group”: YM Group A , YM Group B, YM Group C or YM Group D, as applicable.

 

“YM
Group A”: Collectively, the Class A Certificates and the Class X-A Certificates. 

 

“YM
Group B”: Collectively, the Class B Certificates and the Class X-B Certificates.

 

“YM
Group C”: Collectively, the Class C Certificates and the Class X-C Certificates.

 

“YM
Group D”: Collectively, the Class D Certificates and the Class X-D Certificates.

 

Section 1.02     
Certain Calculations. Unless otherwise specified herein, for purposes of determining amounts with respect to the Certificates
and the rights and obligations of the parties hereto, the following provisions shall apply:

 

(i)          
All calculations of interest (other than as provided in the related Mortgage Loan documents) provided for herein shall be made
on the basis of a 360-day year consisting of twelve 30-day months.

 

(ii)         
Any Mortgage Loan or Companion Loan payment is deemed to be received on the date such payment is actually received by the Master
Servicer or the Special Servicer; provided, however, that for purposes of calculating distributions on the Certificates,
Principal Prepayments with respect to any Mortgage Loan are deemed to be received on the date they are applied in accordance with
the Servicing Standard

 

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consistent with the terms of the related Mortgage Note and Mortgage to reduce the outstanding principal
balance of such Mortgage Loan on which interest accrues.

 

(iii)        
Any reference to the Certificate Balance of any Class of Principal Balance Certificates on or as of a Distribution Date shall
refer to the Certificate Balance of such Class of Principal Balance Certificates on such Distribution Date after giving effect
to (a) any distributions made on such Distribution Date pursuant to Section 4.01(a), (b) and (c),
(b) any Collateral Support Deficit allocated to such Class of Principal Balance Certificates on that Distribution Date pursuant
to Section 4.04, (c) the addition of any Certificate Deferred Interest allocated to such Class of Principal Balance
Certificates pursuant to Section 4.06, and (d) any recoveries on the related Mortgage Loans of Nonrecoverable
Advances (plus interest thereon) that were previously reimbursed from principal collections on the related Mortgage Loans, that
resulted in a reduction of the Principal Distribution Amount, which recoveries are allocated to such Class of Principal Balance
Certificates, and added to the Certificate Balance pursuant to Section 4.04(a).

 

(iv)        
All net present value calculations and determinations made with respect to a Mortgage Loan, Serviced Companion Loan,
Mortgaged Property or REO Property (including for purposes of the definition of “Servicing Standard”) shall be
made using a discount rate (a) for principal and interest payments on a Mortgage Loan or Serviced Companion Loan, as
applicable, or sale of a Mortgage Loan by the Special Servicer, the higher of (x) the rate determined by the Master
Servicer or Special Servicer, as applicable, that approximates the market rate that would be obtainable by the Mortgagor on
similar non-defaulted debt of such Mortgagor as of such date of determination and (y) the Mortgage Rate on the
applicable Mortgage Loan or Serviced Companion Loan, as applicable, based on its outstanding principal balance, and
(b) for all other cash flows, including property cash flow, the “discount rate” set forth in the most recent
Appraisal (or update of such Appraisal) of the related Mortgaged Property.

 

(v)          
Any reference to “expense of the trust” or words of similar import shall be construed to mean, for any Serviced Mortgage
Loan, an expense that shall be applied in accordance with the related Intercreditor Agreement or, if no application is specified
in the related Intercreditor Agreement, then, to the extent such Intercreditor Agreement refers to this Agreement for the application
of trust expenses or such Intercreditor Agreement does not prohibit the following application of trust expenses (i) with respect
to any Serviced Pari Passu Whole Loan, pro rata and pari passu, to the Trust Fund and Serviced Pari Passu Companion
Loan in accordance with the respective outstanding principal balances of the related Serviced Pari Passu Mortgage Loan and Serviced
Pari Passu Companion Loan or (ii) with respect to any AB Whole Loan, first, to the related AB Subordinate Companion Loan
and then, to the Trust Fund.

 

[End
of Article I]

 

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Article II

CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES

 

Section 2.01      Conveyance
of Mortgage Loans. (a)  The Depositor, concurrently with the execution and delivery hereof, does
hereby establish a trust, appoint the Trustee as trustee of the trust, assign, sell, transfer and convey to the Trustee, in
trust, without recourse, for the benefit of the Certificateholders and the Trustee (as holder of the Uncertificated
Lower-Tier Interests) all the right, title and interest of the Depositor, including any security interest therein for the
benefit of the Depositor, in, to and under (i) the Mortgage Loans identified on the Mortgage Loan Schedule,
(ii) Sections 1, 2, 3, 4, 5 (excluding Section 5(d), 5(f) and 5(g)), 6(a) (excluding clauses (viii) and
(xii) of Section 6(a)), 6(c), 6(d), 6(e), 6(f), 6(g), 10, 11, 13, 14, 15, 17, 18 and 19 of each of the Mortgage Loan
Purchase Agreements, Sections 20 and 21 of the Mortgage Loan Purchase Agreement among the Depositor, SMF II and Starwood
and Sections 20 and 21 of the Mortgage Loan Purchase Agreement among the Depositor, RTI and RCMC; (iii) the RAIT
Financial Trust Guaranty, (iv) the Intercreditor Agreements; (v) $100 to be deposited by the Depositor into the
Upper-Tier REMIC Distribution Account on the Closing Date; and (vi) all other assets included or to be included in the
Trust Fund. Such assignment includes all interest and principal received or receivable on or with respect to the Mortgage
Loans (in each case, other than (i) payments of principal and interest due and payable on the Mortgage Loans on or
before the Cut-off Date; (ii) prepayments of principal collected on or before the Cut-off Date; and (iii) with
respect to those Mortgage Loans that were closed in June 2015 but have their first Due Date in July 2015, any interest
amounts relating to the period prior to the Cut-off Date). The transfer of the Mortgage Loans and the related rights and
property accomplished hereby is absolute and, notwithstanding Section 12.07, is intended by the parties to
constitute a sale. In connection with the assignment to the Trustee of (A) Sections 1, 2, 3, 4, 5 (excluding
Section 5(d), 5(g) and 5(h)), 6(a) (excluding clauses (viii) and (xii) of Section 6(a)), 6(c), 6(d), 6(e),
6(f), 6(g), 10, 11, 13, 14, 15, 17, 18 and 19 of each of the Mortgage Loan Purchase Agreements, (B) Sections 20 and
21 of the Mortgage Loan Purchase Agreement among the Depositor, SMF II and Starwood, (C) Sections 20 and 21 of the
Mortgage Loan Purchase Agreement among the Depositor, RTI and RCMC, and (D) the RAIT Financial Trust Guaranty, it is intended
that the Trustee get the benefit of Sections 10, 11 and 14 thereof in connection with any exercise of rights under the
assigned Sections, and the Depositor shall use its best efforts to make available to the Trustee the benefits of
Sections 10, 11 and 14 in connection therewith.

 

(b)          
In connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall direct,
and hereby represents and warrants that it has directed, the Mortgage Loan Sellers pursuant to the applicable Mortgage Loan Purchase
Agreement to deliver to and deposit with, or cause to be delivered to and deposited with, the Custodian (or with respect to letters
of credit, the Master Servicer), on or before the Closing Date, the Mortgage File for each Mortgage Loan so assigned, with copies
to the Master Servicer (except for letters of credit). If the applicable Mortgage Loan Seller cannot deliver, or cause to be delivered,
as to any Mortgage Loan, the original Mortgage Note, the delivery requirements of the applicable Mortgage Loan Purchase Agreement
and this Section 2.01(b) shall be deemed to have been satisfied upon such Mortgage Loan Seller’s delivery of
a copy or duplicate original of such Mortgage Note, together with an affidavit certifying that the original thereof has been lost
or

 

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destroyed
and indemnifying the Trustee and the Trust. If the applicable Mortgage Loan Seller cannot deliver, or cause to be delivered,
as to any Mortgage Loan, any of the documents and/or instruments referred to in clauses (ii), (iv), (viii), (xi)
and (xii) of the definition of “Mortgage File” (or, if applicable, a copy thereof) with evidence of filing
or recording thereon (if intended to be recorded or filed), solely because of a delay caused by the public filing
or recording office where such document or instrument has been delivered, or will be delivered within 10 Business Days of the
Closing Date, for filing or recordation, the delivery requirements of the applicable Mortgage Loan Purchase Agreement and
this Section 2.01(b) shall be deemed to have been satisfied on a provisional basis as of the Closing Date as to
such non-delivered document or instrument, and such non-delivered document or instrument shall be deemed to have been
included in the Mortgage File, if a duplicate original or a photocopy of such non-delivered document or instrument (certified
by the applicable public filing or recording office, the applicable title insurance company or the applicable Mortgage Loan
Seller to be a true and complete copy of the original thereof submitted or to be submitted for filing or recording) is
delivered to the Custodian on or before the Closing Date, and either the original of such non-delivered document or
instrument, or a photocopy thereof (certified by the appropriate county recorder’s office or the applicable title
insurance company, in the case of the documents and/or instruments referred to in clause (ii) of the definition
of “Mortgage File”, to be a true and complete copy of the original thereof submitted for recording), with
evidence of filing or recording thereon, is delivered to the Custodian within one hundred-eighty (180) days of the
Closing Date (or within such longer period, not to exceed eighteen (18) months, after the Closing Date as the Custodian shall
consent to as long as the applicable Mortgage Loan Seller is, as certified in writing to the Trustee and the Custodian no
less often than every ninety (90) days following such 180–day period after the Closing Date, attempting in good faith
to obtain from the appropriate public filing office or county recorder’s office such original or photocopy). If the
applicable Mortgage Loan Seller is required to, but cannot deliver, or cause to be delivered, as to any Mortgage Loan, any of
the documents and/or instruments referred to in clauses (ii), (iv), (viii), (xi) and (xii)
(or, if applicable, a copy thereof) of the definition of “Mortgage File,” with evidence of filing or recording
thereon, for any other reason, including, without limitation, that such non-delivered document or instrument has been lost or
destroyed, the delivery requirements of the applicable Mortgage Loan Purchase Agreement and this Section 2.01(b)
shall be deemed to have been satisfied as to such non-delivered document or instrument, and such non-delivered document or
instrument shall be deemed to have been included in the Mortgage File, if a photocopy of such non-delivered document or
instrument (with evidence of filing or recording thereon and certified in the case of the documents and/or instruments
referred to in clause (ii) of the definition of “Mortgage File” by the appropriate county
recorder’s office or the applicable title insurance company to be a true and complete copy of the original thereof
submitted for recording) is delivered to the Custodian on or before the Closing Date. Neither the Trustee nor any Custodian
shall in any way be liable for any failure by any Mortgage Loan Seller or the Depositor to comply with the delivery
requirements of the related Mortgage Loan Purchase Agreement and this Section 2.01(b). If, on the Closing Date as
to any Mortgage Loan, subject to the next sentence, the applicable Mortgage Loan Seller is required to, but cannot
deliver (in complete and recordable form or form suitable for filing or recording, if applicable) any one of the assignments
in favor of the Trustee referred to in clause (iii), clause (v) (to the extent not already assigned
pursuant to clause (iii)), clause (vii) (to the extent not already assigned pursuant to clause (iii))
or clause (xi) of the definition of “Mortgage File” solely because of the

 

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unavailability
of filing or recording information as to any existing document or instrument, such Mortgage Loan Seller may provisionally
satisfy the delivery requirements of the related Mortgage Loan Purchase Agreement and this Section 2.01(b) with
respect to such assignment by delivering with respect to such Mortgage Loan on the Closing Date an omnibus assignment of such
Mortgage Loan substantially in the form of Exhibit H; provided that all required original assignments with
respect to such Mortgage Loan (in fully complete and recordable form or form suitable for filing or recording, if applicable)
are delivered to the Custodian within one hundred-eighty (180) days after the Closing Date (or within such longer period, not
to exceed eighteen (18) months, which the Custodian shall consent to so long as the applicable Mortgage Loan Seller is, as
certified in writing to the Trustee and the Custodian no less often than every ninety (90) days following such 180–day
period after the Closing Date, attempting in good faith to obtain from the appropriate public filing office or county
recorder’s office the applicable filing or recording information as to the related document or instrument); and provided, further,
that in the case of a Non-Serviced Mortgage Loan, the delivery of any such assignments shall be subject to clause (e)
and/or clause (f) of the final proviso to the definition of “Mortgage File” herein. If, in accordance with
the related Mortgage Loan Purchase Agreement and consistent with Section 2.01(c) of this Agreement, as to any
Mortgage Loan, the related Mortgage Loan Seller or its agent is responsible for recording or filing, as applicable, any one
of the assignments in favor of the Trustee referred to in clause (iii), clause (v) (to the extent not
already assigned pursuant to clause (iii)) or clause (xi) of the definition of “Mortgage
File”, such Mortgage Loan Seller may provisionally satisfy the delivery requirements of the related Mortgage Loan
Purchase Agreement and this Section 2.01(b) with respect to such assignment by delivering to the Custodian with
respect to such Mortgage Loan on the Closing Date a copy of such assignment in the form sent for recording or filing or
(except for recording or filing information not yet available) to be sent for recording or filing; provided that an
original or copy of such assignment (with evidence of recording or filing, as applicable, indicated thereon) shall be
delivered to the Custodian as contemplated by Section 2.01(c) of this Agreement. Notwithstanding anything herein
to the contrary, with respect to letters of credit referred to in clause (xvi) of the definition
of “Mortgage File”, the applicable Mortgage Loan Seller shall deliver the original to the Master Servicer (which
letter of credit shall be titled in the name of, or assigned to, “Wells Fargo Bank, National Association”, as
Master Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of registered holders of
JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29”),
and a copy to the Custodian or, if such original has been submitted by the applicable Mortgage Loan Seller to the issuing
bank to effect a reissuance, assignment or amendment of such letter of credit (changing the beneficiary thereof to the Master
Servicer (in care of the Trustee, as titled above) that may be required in order for the Master Servicer to draw on such
letter of credit on behalf of the Trust in accordance with the applicable terms thereof and/or of the related Mortgage Loan
documents) and the applicable Mortgage Loan Seller shall be deemed to have satisfied the delivery requirements of the related
Mortgage Loan Purchase Agreement and this Section 2.01(b) by delivering with respect to any letter(s) of credit a
copy thereof to the Custodian together with an officer’s certificate of the applicable Mortgage Loan Seller certifying
that such document has been delivered to the issuing bank for reissuance or an Officer’s Certificate from the Master
Servicer certifying that it holds the letter(s) of credit pursuant to this Section 2.01(b), one of which shall be
delivered to the Custodian on the Closing Date. If a letter of credit referred to in the previous sentence is not in a form
that would allow the Master

 

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Servicer to draw on such letter of credit on behalf of the Trust in accordance with the
applicable terms thereof and/or of the related Mortgage Loan documents, the applicable Mortgage Loan Seller shall deliver the
appropriate assignment or amendment documents (or copies of such assignment or amendment documents if the related
Mortgage Loan Seller has submitted the originals to the related issuer of such letter of credit for processing) to the
Custodian within thirty (30) days of the Closing Date. If not otherwise paid by the related Mortgagor, the applicable
Mortgage Loan Seller shall pay any costs of assignment or amendment of such letter(s) of credit required in order for the
Master Servicer to draw on such letter(s) of credit on behalf of the Trust and shall cooperate with the reasonable requests
of the Master Servicer in connection with effectuating a draw under any such letter of credit prior to the date such letter
of credit is assigned or amended in order that it may be drawn by the Master Servicer on behalf of the Trust.

 

(c)          
Pursuant to each Mortgage Loan Purchase Agreement, except in the case of a Non-Serviced Mortgage Loan, the related Mortgage
Loan Seller is required at its sole cost and expense, to itself, or to engage a third party to, put each Assignment of
Mortgage, each assignment of Assignment of Leases and each assignment of each UCC Financing Statement (collectively, the
“Assignments” and, individually, “Assignment”) relating to the Mortgage Loans conveyed
by it under the applicable Mortgage Loan Purchase Agreement in proper form for filing or recording, as applicable, and to
submit such Assignments for filing or recording, as the case may be, in the applicable public filing or recording office. On
the Closing Date, the Mortgage Loan Sellers may deliver one (1) omnibus assignment for all such Mortgage Loans to the
Custodian as provided in Section 2.01(b). Except under the circumstances provided for in the last sentence of
this subsection (c) and except in the case of a Non-Serviced Mortgage Loan, the related Mortgage Loan Seller will
itself, or a third party at such Mortgage Loan Seller’s expense will, promptly (and in any event within one
hundred-twenty (120) days after the later of the Closing Date and the related Mortgage Loan Seller’s actual receipt of
the related documents and the necessary recording and filing information) cause to be submitted for recording or filing, as
the case may be, in the appropriate public office for real property records or UCC Financing Statements, as appropriate, each
Assignment. Each such Assignment submitted for recording shall reflect that it (or a file copy thereof in the case of a UCC
Assignment) should be returned by the public recording office to the Custodian or its designee following recording or filing
(or to the related Mortgage Loan Seller or its agent who will then be responsible for delivery of the same to the
Custodian or its designee). Any such Assignment received by the Custodian shall be promptly included in the related Mortgage
File and be deemed a part thereof, and any such Assignment received by the related Mortgage Loan Seller or its agent shall be
required to be delivered to the Custodian to be included as part of the related Mortgage File within thirty (30) days after
receipt. If any such document or instrument is determined to be incomplete or not to meet the recording or filing
requirements of the jurisdiction in which it is to be recorded or filed, or is lost by the public office or returned
unrecorded or unfiled, as the case may be, because of a defect therein, on or about one hundred-eighty (180) days after the
Closing Date, the related Mortgage Loan Seller or its designee shall prepare, at its own expense, a substitute therefor or
cure such defect, as the case may be, and thereafter the related Mortgage Loan Seller or its designee shall, at the expense
of such Mortgage Loan Seller, upon receipt thereof cause the same to be duly recorded or filed, as appropriate. If, by the
first anniversary of the Closing Date, the Custodian has not received confirmation of the recording or filing as the case may
be, of any such Assignment, it shall so advise the related Mortgage Loan Seller who may then pursue such confirmation itself
or request that the Custodian pursue such confirmation at the related

 

    	-105-

    	 

    

 

Mortgage Loan Seller’s expense, and upon such a
request and provision for payment of such expenses satisfactory to the Custodian, the Custodian, at the expense of the
applicable Mortgage Loan Seller, shall cause a search of the land records of each applicable jurisdiction and of the records
of the offices of the applicable Secretary of State for confirmation that the Assignment appears in such records and retain a
copy of such confirmation in the related Mortgage File. In the event that confirmation of the recording or filing of an
Assignment cannot be obtained, the Custodian or the related Mortgage Loan Seller, as applicable, shall promptly inform the
other and the Custodian shall provide such Mortgage Loan Seller with a copy of the Assignment and request the preparation of
a new Assignment. The related Mortgage Loan Seller shall pay the expenses for the preparation of replacement Assignments
for any Assignments which, having been properly submitted for filing or recording to the appropriate governmental office by
the Custodian, fail to appear of record and must be resubmitted. Notwithstanding the foregoing, there shall be no requirement
to record any assignment to the Trustee referred to in clause (iii) or (v) of the definition of
“Mortgage File,” or to file any UCC-3 to the Trustee referred to in clause (xi) of the definition of
“Mortgage File,” in those jurisdictions where, in the written opinion of local counsel (which opinion shall be an
expense of the related Mortgage Loan Seller) acceptable to the Depositor and the Trustee, such recordation and/or filing is
not required to protect the Trustee’s interest in the related Mortgage Loan against sale, further assignment,
satisfaction or discharge by the related Mortgage Loan Seller, the Master Servicer, the Special Servicer, any Sub-Servicer or
the Depositor.

 

(d)          
All documents and records in the Depositor’s or the applicable Mortgage Loan Seller’s possession relating to the
Mortgage Loans (including, in each case, financial statements, operating statements and any other information provided by the
respective Mortgagor from time to time, but excluding the applicable Mortgage Loan Seller’s internal communications
(including such communications between such Mortgage Loan Seller and its Affiliates) and underwriting analysis (including
documents prepared by the applicable Mortgage Loan Seller or any of its Affiliates for such purposes), draft documents,
attorney-client communications that are privileged communications or constitute legal or other due diligence analyses and
credit underwriting or due diligence analyses or data) that (i) are not required to be a part of a Mortgage File in
accordance with the definition thereof and (ii) are reasonably necessary for the servicing of each such Mortgage Loan,
together with copies of all documents in each Mortgage File, shall be delivered by the Depositor or the applicable Mortgage
Loan Seller to the Master Servicer within five (5) Business Days after the Closing Date and shall be held by the Master
Servicer on behalf of the Trustee in trust for the benefit of the Certificateholders (and as holder of the Uncertificated
Lower-Tier Interests) and, if applicable, on behalf of the related Companion Holder. Such documents and records shall be any
documents and records (with the exception of any items excluded under the immediately preceding sentence) that would
otherwise be a part of the Servicing File.

 

(e)           
In connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall deliver
to the Trustee and the Master Servicer, on or before two (2) Business Days after the Closing Date, a fully executed original counterpart
of each of the Mortgage Loan Purchase Agreements, as in full force and effect, without amendment or modification, on the Closing
Date.

 

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(f)           
The Depositor shall use its reasonable best efforts to require that, promptly after the Closing Date, but in all events within
three (3) Business Days after the Closing Date, each of the Mortgage Loan Sellers shall cause all funds on deposit in escrow accounts
maintained with respect to the Mortgage Loans transferred by such Mortgage Loan Seller, whether such accounts are held in the
name of the applicable Mortgage Loan Seller or any other name to be transferred to the Master Servicer (or a Sub-Servicer) for
deposit into Servicing Accounts.

 

(g)          
With respect to the Mortgage Loans secured by the Mortgaged Properties identified as “JAGR Portfolio”,
“Marriott-Pittsburgh”, “DoubleTree Carson”, “Courtyard Marriott Green Hills”,
“Doubletree Baltimore Airport”, “Homewood Suites Kennesaw”, “Hampton Inn Jackson”,
“Fairfield Inn Destin” and “Candlewood Suites Greenville” on the Mortgage Loan Schedule, which are
each subject to a franchise agreement with a related comfort letter in favor of the respective Mortgage Loan Seller that
requires notice to or request of the related franchisor to transfer or assign any related comfort letter to the Trust or
otherwise have a new comfort letter issued in the name of the Trust, the related Mortgage Loan Seller or its designee will be
required to provide any such required notice or make any such required request to the related franchisor (with a copy of
such notice or request to the Master Servicer) within 45 days of the Closing Date (or any shorter period if required by the
applicable comfort letter), and the Master Servicer shall use reasonable efforts in accordance with the Servicing Standard to
acquire such replacement comfort letter, if necessary (or to acquire any such new document or acknowledgement as may be
contemplated under the existing comfort letter).

 

Section 2.02      Acceptance
by Trustee. (a)  The Trustee, by the execution and delivery of this Agreement (1) acknowledges receipt by
it or a Custodian on its behalf, subject to the provisions of Section 2.01, in good faith and without notice of
any adverse claim, of the applicable documents specified in clause (i) of the definition of “Mortgage
File” with respect to each Mortgage Loan and of all other assets included in the Trust Fund and (2) declares
(a) that it or a Custodian on its behalf holds and will hold such documents and the other documents delivered or caused
to be delivered by the Mortgage Loan Sellers that constitute the Mortgage Files, and (b) that it holds and will hold
such other assets included in the Trust Fund, in trust for the exclusive use and benefit of all present and future
Certificateholders and, with respect to any original document in the Mortgage File for a Serviced Whole Loan, for any present
or future Companion Holder (and for the benefit of the Trustee as holder of the Uncertificated Lower-Tier Interests), as
applicable. If any Mortgage Loan Seller is unable to deliver or cause the delivery of any original Mortgage Note, such
Mortgage Loan Seller may deliver a copy of such Mortgage Note, together with a signed lost note affidavit and appropriate
indemnity and shall thereby be deemed to have satisfied the document delivery requirements of Sections 2.01 and 2.02.

 

(b)          
Within sixty (60) days of the Closing Date, the Custodian, shall review the Mortgage Loan documents delivered or caused to be
delivered by the Mortgage Loan Sellers constituting the Mortgage Files; and, promptly following such review (but in no event later
than sixty (60) days after the Closing Date), the Custodian shall, in the form attached as Exhibit Q, certify in writing
to each of the Rating Agencies, the Depositor, the Master Servicer, the Special Servicer, the Directing Certificateholder and
the applicable Mortgage Loan Seller (as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan
paid in full)) that, except as specifically identified in any exception report annexed to such writing (the

 

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“Custodial
Exception Report”), (i) subject to the final proviso of the definition of “Mortgage File” herein and
Section 2.01 hereof, all documents specified in clauses (i) through (v), (ix) through (xiii),
(xv) and (xvi) (or, with respect to clause (xvi), a copy of such letter of credit and the required Officer’s
Certificate), if any, of the definition of “Mortgage File”, as applicable, are in its possession, (ii) the foregoing
documents delivered or caused to be delivered by the Mortgage Loan Sellers have been reviewed by the Custodian and appear regular
on their face and appear to be executed and to relate to such Mortgage Loan, and (iii) based on such examination and only
as to the foregoing documents, the information set forth in the Mortgage Loan Schedule with respect to the items specified in
clauses (iv), (vi) and (viii)(c) in the definition of “Mortgage Loan Schedule” is correct.
With respect to each Mortgage Loan listed on the Custodial Exception Report, the Custodian shall specifically identify such Mortgage
Loan together with the nature of such exception (in the form reasonably acceptable to the Custodian and the related Mortgage Loan
Seller and separating items required to be in the Mortgage File but never delivered from items which were delivered by the related
Mortgage Loan Seller but are out for filing or recording and have not been returned by the filing office or the recorder’s
office).

 

(c)          
The Custodian shall review the Mortgage Loan documents received subsequent to the Closing Date; and, on or about the first
anniversary of the Closing Date, the Custodian shall, in the form attached as Exhibit Q, certify in writing to
each of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Directing
Certificateholder and the applicable Mortgage Loan Seller (as to each Mortgage Loan listed on the Mortgage Loan Schedule
(other than any related Mortgage Loan as to which a Liquidation Event has occurred) or any related Mortgage Loan specifically
identified in any exception report annexed to such writing) that, (i) subject to the final proviso of the definition of
“Mortgage File” herein and Section 2.01 hereof, all documents specified in clauses (i)
through (v), (ix) through (xiii), (xv) and (xvi), if any, of the definition of
“Mortgage File”, as applicable, are in its possession, (ii) the foregoing documents delivered or caused to
be delivered by the Mortgage Loan Sellers have been reviewed by the Custodian and appear regular on their face and appear to
be executed and relate to such Mortgage Loan, if applicable, and (iii) based on such examination and only as to the
foregoing documents, the information set forth in the Mortgage Loan Schedule with respect to the items specified in clauses (iv), (vi)
and (viii)(c) in the definition of “Mortgage Loan Schedule” is correct.

 

(d)          
Notwithstanding anything contained in this Section 2.02 and Section 2.03(b) to the contrary, in the case
of a Defect in any of the documents specified in clauses (ii) through (v), (viii), (ix), (xi)
and (xii) in the definition of “Mortgage File”, which Defect results solely from a delay in the return
of the related documents from the applicable filing or recording office and gives rise to a repurchase or substitution obligation
on the part of the related Mortgage Loan Seller with respect to the subject Mortgage Loan pursuant to the related Mortgage Loan
Purchase Agreement, the Directing Certificateholder, in its sole judgment, may (prior to the occurrence and continuance of a Control
Event), and the Special Servicer may, in accordance with the Servicing Standard, after the occurrence and during the continuance
of a Control Event, permit the related Mortgage Loan Seller in lieu of repurchasing or substituting for the related Mortgage Loan,
to deposit with the Master Servicer an amount, to be held in trust in a segregated Eligible Account (which may be a sub-account
of the Certificate Account), equal to 25% of the Stated Principal Balance of the related Mortgage Loan (in the

 

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alternative,
the related Mortgage Loan Seller may deliver to the Master Servicer a letter of credit in such amount, with a copy to the
Custodian). Such funds or letter of credit, as applicable, shall be held by the Master Servicer (i) until the date on
which the Custodian determines and notifies the Master Servicer that such Defect has been cured or the related Mortgage Loan
is no longer part of the Trust Fund, at which time the Master Servicer shall return such funds (or letter of credit) to the
related Mortgage Loan Seller, or (ii) until same are applied to the Purchase Price (or the Substitution Shortfall
Amount, if applicable) as set forth below in this Section 2.02(d) in the event of a repurchase or substitution by
the related Mortgage Loan Seller. Notwithstanding the two immediately preceding sentences, if the Master Servicer or the
Special Servicer certifies to the Trustee, the Certificate Administrator and the Custodian that it has determined in the
exercise of its reasonable judgment that the document with respect to which such Defect exists is required in connection with
an imminent enforcement of the mortgagee’s rights or remedies under the related Mortgage Loan, defending any claim
asserted by any Mortgagor or third party with respect to the related Mortgage Loan, establishing the validity or priority of
any lien on collateral securing the related Mortgage Loan or for any immediate significant servicing obligation, the related
Mortgage Loan Seller shall be required to repurchase or substitute for the related Mortgage Loan in accordance with, and to
the extent required by, the terms and conditions of Section 2.03(b) and Section 6 of the related Mortgage
Loan Purchase Agreement; provided, however, that such Mortgage Loan Seller shall not be required to repurchase
the Mortgage Loan for a period of ninety (90) days after receipt of a notice to repurchase (together with any applicable
extension period) if it is attempting to recover the document from the applicable filing or recording office and provides an
officer’s certificate setting forth what actions such Mortgage Loan Seller is pursuing in connection with
such recovery. In the event of a repurchase or substitution, upon the date of such repurchase or substitution, and in the
event that the related Mortgage Loan Seller has delivered a letter of credit to the Master Servicer in accordance with this Section 2.02(d),
the Master Servicer shall, to the extent necessary, draw on the letter of credit and deposit the proceeds of such draw, into
the Certificate Account to be applied to the Purchase Price (or the Substitution Shortfall Amount, if applicable, in which
event, the amount of such funds or proceeds that exceed the Substitution Shortfall Amount shall be returned to the related
Mortgage Loan Seller) in accordance with Section 2.03(b). All such funds deposited in the Certificate Account
shall be invested in Permitted Investments, at the direction and for the benefit of the related Mortgage Loan Seller. Such
funds shall be treated as an “outside reserve fund” under the REMIC Provisions, which, together with any
reimbursement from the Lower-Tier REMIC, is beneficially owned by the related Mortgage Loan Seller for federal income tax
purposes, which Mortgage Loan Seller shall remain liable for any taxes payable on income or gain with respect
thereto.

 

(e)           
It is herein acknowledged that neither the Trustee nor any Custodian is under any duty or obligation (i) to determine whether
any of the documents specified in clauses (vi), (vii), (viii), (xiv) and (xvii) through
(xxv) of the definition of “Mortgage File” exist or are required to be delivered by the Depositor, the Mortgage
Loan Sellers or any other Person (unless identified on the Mortgage Loan Checklist) or (ii) to inspect, review or examine
any of the documents, instruments, certificates or other papers relating to the Mortgage Loans delivered to it to determine that
the same are genuine, enforceable, duly authorized, sufficient to perfect and maintain the perfection of a security interest or
appropriate for the represented purpose or that they are other than what they purport to be on their face and, with respect to
the documents specified in clause (ix) of the definition of the “Mortgage File”, whether the insurance
is

 

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effective as of the date of the recordation, whether all endorsements or riders issued are included in the file or if the policy
has not been issued whether any acceptable replacement document has been dated the date of the related Mortgage Loan funding.
Further, with respect to the UCC Financing Statements referenced in the Mortgage File, absent actual knowledge to the contrary
or copies of UCC Financing Statements delivered to the Custodian as part of the Mortgage File indicating otherwise, the Custodian
may assume, for the purposes of the filings and the certification to be delivered in accordance with this Section 2.02
that the related Mortgage File should include one state level UCC Financing Statement filing for each Mortgaged Property (or
with respect to any Mortgage Loan that has two or more Mortgagors, for each Mortgagor, except to the extent multiple Mortgagors
are named as debtors in the same UCC Financing Statement filing), or if the Custodian has received notice that a particular UCC
Financing Statement was filed as a fixture filing, that the related Mortgage File should include only a local UCC Financing Statement
filing for each Mortgaged Property (or with respect to any Mortgage Loan that has two or more Mortgagors, for each Mortgagor,
except to the extent multiple Mortgagors are named as debtors in the same UCC Financing Statement filing). The assignments of
the UCC Financing Statements to be assigned to the Trust will be delivered on the new national forms (or on such other form as
may be acceptable for filing or recording in the applicable jurisdiction) and in a format suitable for filing or recording, as
applicable, and will be filed or recorded in the jurisdiction(s) where such UCC Financing Statements were originally filed or
recorded, as indicated in the documents provided, and in accordance with then-current laws.

 

(f)           
If, in the process of reviewing the Mortgage Files or at any time thereafter, the Custodian finds any document or documents
constituting a part of a Mortgage File (1) not to have been properly executed, (2) subject to the timing
requirements of Sections 2.01(b) and 2.01(c), not to have been delivered, (3) to contain information
that does not conform in any material respect with the corresponding information set forth in the Mortgage Loan Schedule or
(4) to be defective on its face (each, a “Defect” in the related Mortgage File), the Custodian shall
promptly so notify the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Certificate Administrator, the
Directing Certificateholder, the applicable Mortgage Loan Seller (and in no event later than ninety (90) days after the
Closing Date and every calendar quarter thereafter, commencing with the quarter ending September 30, 2015 until all Defects
are corrected) by providing a Custodial Exception Report setting forth for each affected Mortgage Loan, with particularity,
the nature of such Defect (in a form reasonably acceptable to the Custodian and such Mortgage Loan Seller and separating
items required to be in the Mortgage File but never delivered from items which were delivered by such Mortgage Loan Seller
but are out for recording or filing and have not been returned by the recorder’s office or filing office).

 

(g)          
If the Master Servicer or the Special Servicer (i) receives any request or demand for repurchase or replacement of a Mortgage
Loan because of a breach of or alleged breach of a representation or warranty or a Defect (any such request or demand for repurchase
or replacement, a “Repurchase Request”, and the Master Servicer or the Special Servicer, as applicable, to
the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase
Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request or any rejection
of a Repurchase Request (or such a Repurchase Request is forwarded to the Master Servicer or Special Servicer by another party
hereto), then the Repurchase Request Recipient shall deliver notice (which may be by electronic format so long as a “backup”
hard copy of such notice is also delivered on or

 

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prior to the next Business Day) of such Repurchase Request or withdrawal or rejection
of a Repurchase Request (each, a “15Ga-1 Notice”) to the applicable Mortgage Loan Seller (other than in the
case of a rejection by such Mortgage Loan Seller) and the Depositor, in each case within ten (10) Business Days from such Repurchase
Request Recipient’s receipt thereof.

 

Each
15Ga-1 Notice shall include (i) the identity of the related Mortgage Loan, (ii) the date the Repurchase Request is received
by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request
Recipient, as applicable, (iii) if known, the basis for the Repurchase Request (as asserted in the Repurchase Request) and
(iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request.

 

A
Repurchase Request Recipient shall not be required to provide any information in a 15Ga-1 Notice protected by the attorney-client
privilege or attorney work product doctrines. The Mortgage Loan Purchase Agreements will provide that (i) any 15Ga-1 Notice
provided pursuant to this Section 2.02(g) is so provided only to assist the Mortgage Loan Sellers and Depositor or
their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB
and any other requirement of law or regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request
Recipient and (B) no information provided pursuant to this Section 2.02(g) by a Repurchase Request Recipient,
shall be deemed to constitute a waiver or defense to the exercise of any legal right the Repurchase Request Recipient may have
with respect to the related Mortgage Loan Purchase Agreement, including with respect to any Repurchase Request that is the subject
of a 15Ga-1 Notice.

 

In
the event that the Depositor, the Trustee, the Certificate Administrator, the Certificate Registrar or the Custodian
receives a Repurchase Request, such party shall promptly forward or otherwise provide written notice of such Repurchase
Request to the Master Servicer, if relating to a Non-Specially Serviced Mortgage Loan, or to the Special Servicer, if
relating to a Specially Serviced Mortgage Loan or REO Property, and include the following statement in the related
correspondence: “This is a “Repurchase Request” under Section 2.02 of the Pooling and Servicing
Agreement relating to the JPMBB Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates
Series 2015-C29 requiring action by you as the “Repurchase Request Recipient” thereunder.” Upon
receipt of such Repurchase Request by the Master Servicer or the Special Servicer, as applicable, such party shall be deemed
to be the Repurchase Request Recipient in respect of such Repurchase Request, and such party shall comply with the procedures
set forth in this Section 2.02(g) with respect to such Repurchase Request. In no event shall the Custodian, by
virtue of this provision, be required to provide any notice other than as set forth in Section 2.02 of this
Agreement in connection with its review of the Mortgage File.

 

If
the Depositor, the Trustee, the Certificate Administrator, the Certificate Registrar or the Custodian receives notice or has knowledge
of a withdrawal or a rejection of a Repurchase Request of which notice has been previously received or given, and such notice
was not received from or copied to the Master Servicer or the Special Servicer, then such party shall give notice of such withdrawal
or rejection to the Master Servicer or the Special Servicer, as applicable. Any such notice received by the Trustee, the Certificate
Administrator, the

 

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Certificate Registrar or the Custodian shall also be provided to the Depositor and, in the case of a withdrawal
notice, to the applicable Mortgage Loan Seller.

 

In
the event that a Mortgage Loan is repurchased or replaced pursuant to Section 2.03 of this Agreement, the Master Servicer
(with respect to Non-Specially Serviced Mortgage Loans) or Special Servicer (with respect to Specially Serviced Mortgage Loans)
shall promptly notify the Depositor of such repurchase or replacement.

 

Section 2.03     
Representations, Warranties and Covenants of the Depositor; Mortgage Loan Sellers’ Repurchase or Substitution of Mortgage
Loans for Defects in Mortgage Files and Breaches of Representations and Warranties. (a)  The Depositor hereby represents
and warrants that:

 

(i)          
The Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware,
and the Depositor has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement
by it, and has the power and authority to execute, deliver and perform this Agreement and all the transactions contemplated hereby,
including, but not limited to, the power and authority to sell, assign and transfer the Mortgage Loans in accordance with this
Agreement;

 

(ii)         
Assuming the due authorization, execution and delivery of this Agreement by each other party hereto, this Agreement and all of
the obligations of the Depositor hereunder are the legal, valid and binding obligations of the Depositor, enforceable against
the Depositor in accordance with the terms of this Agreement, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors’ rights generally, and by general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law);

 

(iii)        
The execution and delivery of this Agreement and the performance of its obligations hereunder by the Depositor will not
conflict with any provisions of any law or regulations to which the Depositor is subject, or conflict with, result in a
breach of or constitute a default under any of the terms, conditions or provisions of the certificate of incorporation or the
by-laws of the Depositor or any indenture, agreement or instrument to which the Depositor is a party or by which it is bound,
or any order or decree applicable to the Depositor, or result in the creation or imposition of any lien on any of the
Depositor’s assets or property, which would materially and adversely affect the ability of the Depositor to carry out
the transactions contemplated by this Agreement; the Depositor has obtained any consent, approval, authorization or order of
any court or governmental agency or body required for the execution, delivery and performance by the Depositor of this
Agreement;

 

(iv)        
There is no action, suit or proceeding pending or, to the Depositor’s knowledge, threatened against the Depositor in any
court or by or before any other governmental agency or instrumentality which would materially and adversely affect the

 

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validity
of the Mortgage Loans or the ability of the Depositor to carry out the transactions contemplated by this Agreement; and

 

(v)          
The Depositor is the lawful owner of the Mortgage Loans with the full right to transfer the Mortgage Loans to the Trust, and the
Mortgage Loans have been validly transferred to the Trust.

 

(b)          
If any Certificateholder, the Directing Certificateholder, the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee discovers (without implying any duty of such person to make, or to attempt to make, such a
discovery) or receives notice alleging a Defect in any Mortgage File or a breach of any representation or warranty with
respect to a Mortgage Loan set forth in Section 6(c) of the related Mortgage Loan Purchase Agreement (with respect to
such Mortgage Loan, a “Breach”), which Defect or Breach, as the case may be, materially and adversely
affects the value of such Mortgage Loan, the value of the related Mortgaged Property or the interests of the Trustee or any
Certificateholder therein, such Certificateholder, the Directing Certificateholder, the Master Servicer, the Special
Servicer, the Trustee or the Certificate Administrator, as applicable, shall give prompt written notice of such Defect or
Breach, as the case may be, to the Depositor, the Master Servicer, the Special Servicer, the applicable Mortgage Loan Seller,
the Trustee, the Certificate Administrator, the Senior Trust Advisor and, prior to the occurrence of a Consultation
Termination Event, the Directing Certificateholder, and the Master Servicer (if the related Mortgage Loan is a Non-Specially
Serviced Mortgage Loan) or Special Servicer (if the related Mortgage Loan is a Specially Serviced Mortgage Loan), as
applicable, shall request in writing that the applicable Mortgage Loan Seller, not later than ninety (90) days after
(i) except in the case of the succeeding clause (ii), the applicable Mortgage Loan Seller’s receipt of
such notice or (ii) in the case of a Defect or Breach relating to a Mortgage Loan not being a “qualified
mortgage” within the meaning of Section 860G(a)(3) of the Code, but without regard to the rule of Treasury
Regulations Section 1.860G-2(f)(2) that causes a defective Mortgage Loan to be treated as a qualified mortgage, the
earlier of (x) the applicable Mortgage Loan Seller’s discovery of such Defect or Breach or (y) discovery of
such Breach of Defect by any other party, provided that the related Mortgage Loan Seller receives prompt written
notice thereof (such ninety (90) day period, the “Initial Cure Period”), (A) cure such Defect or
Breach, as the case may be, in all material respects, at such Mortgage Loan Seller’s own expense, including
reimbursement of any related reasonable additional Trust Fund expenses reasonably incurred by any party to this
Agreement, (B) repurchase the affected Mortgage Loan or REO Loan (excluding any related Serviced Companion Loan, if
applicable), at the applicable Purchase Price and in conformity with the applicable Mortgage Loan Purchase Agreement and this
Agreement or (C) substitute a Qualified Substitute Mortgage Loan (other than with respect to the One City Centre
Mortgage Loan, the JAGR Portfolio Mortgage Loan, the Horizon Outlet Shoppes Portfolio Mortgage Loan or Marriott-Pittsburgh
Mortgage Loan, as applicable, for which no substitution will be permitted) for such affected Mortgage Loan or REO Loan
(excluding any related Serviced Companion Loan, if applicable) (provided that in no event shall any such substitution
occur on or after the second anniversary of the Closing Date) and pay the Master Servicer for deposit into the Certificate
Account, any Substitution Shortfall Amount in connection therewith and in conformity with the applicable Mortgage Loan
Purchase Agreement and this Agreement; provided, however, that except with respect to a Defect resulting solely
from the failure by the Mortgage Loan Seller to deliver to the Trustee or Custodian the actual policy of lender’s title

 

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insurance
required pursuant to clause (ix) of the definition of “Mortgage File” by a date not later than eighteen (18)
months following the Closing Date, if such Breach or Defect is capable of being cured but is not cured within the Initial
Cure Period, and the applicable Mortgage Loan Seller has commenced and is diligently proceeding with the cure of such Breach
or Defect within the Initial Cure Period, the applicable Mortgage Loan Seller shall have an additional ninety (90) days
commencing immediately upon the expiration of the Initial Cure Period (such additional ninety (90) day period, the
“Extended Cure Period”) to complete such cure (or, failing such cure, to repurchase the related Mortgage
Loan or REO Loan (excluding any related Serviced Companion Loan, if applicable) or substitute a Qualified Substitute Mortgage
Loan (other than with respect to the One City Centre Mortgage Loan, the JAGR Portfolio Mortgage Loan, the Horizon Outlet
Shoppes Portfolio Mortgage Loan or Marriott-Pittsburgh Mortgage Loan, as applicable, for which no substitution will be
permitted)) and provided, further, that with respect to such Extended Cure Period the applicable Mortgage Loan
Seller shall have delivered an officer’s certificate to the Trustee, the Certificate Administrator (who shall promptly
deliver a copy of such officer’s certificate to the 17g-5 Information Provider), the Master Servicer, the Special
Servicer, the Senior Trust Advisor and, prior to the occurrence of a Consultation Termination Event, the Directing
Certificateholder, setting forth the reason such Breach or Defect is not capable of being cured within the Initial Cure
Period and what actions the applicable Mortgage Loan Seller is pursuing in connection with the cure thereof and stating that
the applicable Mortgage Loan Seller anticipates that such Breach or Defect will be cured within the Extended Cure
Period. Notwithstanding the foregoing, any Defect or Breach which causes any Mortgage Loan not to be a “qualified
mortgage” (within the meaning of Section 860G(a)(3) of the Code, but without regard to the rule of Treasury
Regulations Section 1.860G-2(f)(2) that causes a defective Mortgage Loan to be treated as a qualified mortgage) shall be
deemed to materially and adversely affect the interests of Certificateholders therein, and (subject to the applicable
Mortgage Loan Seller’s right to cure such Defect or Breach during the Initial Cure Period) such Mortgage Loan shall be
repurchased or substituted for without regard to the Extended Cure Period described in the preceding sentence. If the
affected Mortgage Loan is to be repurchased, the funds in the amount of the Purchase Price remitted by the applicable
Mortgage Loan Seller are to be remitted by wire transfer to the Master Servicer for deposit into the Certificate Account. If
any Breach pertains to a representation or warranty that the related Mortgage Loan documents or any particular Mortgage Loan
document requires the related Mortgagor to bear the costs and expenses associated with any particular action or matter under
such Mortgage Loan document(s), then the related Mortgage Loan Seller shall cure such Breach within the applicable cure
period (as the same may be extended) by reimbursing the Trust Fund (by wire transfer of immediately available funds) the
reasonable amount of any such costs and expenses incurred by the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Trust Fund that are the basis of such Breach and have not been reimbursed by the related
Mortgagor; provided, however, that in the event any such costs and expenses exceed $10,000, the
related Mortgage Loan Seller shall have the option to either repurchase or substitute for the related Mortgage Loan as
provided above or pay such costs and expenses. Except as provided in the proviso to the immediately preceding sentence, the
related Mortgage Loan Seller shall remit the amount of such costs and expenses and upon its making such remittance, the
related Mortgage Loan Seller shall be deemed to have cured such Breach in all respects. To the extent any fees or expenses
that are the subject of a cure by the related Mortgage Loan Seller are subsequently obtained from the related Mortgagor, the
portion of the cure payment made by the

 

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related Mortgage Loan Seller equal to such fees or expenses obtained from the related
Mortgagor shall promptly be returned to the related Mortgage Loan Seller. Monthly Payments due with respect to each Qualified
Substitute Mortgage Loan (if any) after the related Due Date in the month of substitution, and Monthly Payments due with
respect to each Mortgage Loan being repurchased or replaced after the related Cut-off Date and received by the Master
Servicer or the Special Servicer on behalf of the Trust on or prior to the related date of repurchase or substitution, shall
be part of the Trust Fund. Monthly Payments due with respect to each Qualified Substitute Mortgage Loan (if any) on or prior
to the related Due Date in the month of substitution, and Monthly Payments due with respect to each Mortgage Loan being
repurchased or replaced and received by the Master Servicer or the Special Servicer on behalf of the Trust after the related
date of repurchase or substitution, shall not be part of the Trust Fund and are to be remitted by the Master Servicer to the
applicable Mortgage Loan Seller effecting the related repurchase or substitution promptly following receipt. Notwithstanding
anything contained in this Agreement or the related Mortgage Loan Purchase Agreement, no delay in either the discovery of a
Defect or Breach shall relieve the applicable Mortgage Loan Seller of its obligation to repurchase if it is otherwise
required to do so under the related Mortgage Loan Purchase Agreement and/or this Article II unless (i) the
related Mortgage Loan Seller did not otherwise discover or have knowledge of such Breach or Defect and (ii) such delay
is a result of the failure by a party to the applicable Mortgage Loan Purchase Agreement, or this Agreement, to provide
prompt notice as required by the terms of the applicable Mortgage Loan Purchase Agreement, or this Agreement, after such
party has actual knowledge of such Defect or Breach (knowledge shall not be deemed to exist by reason of the Custodial
Exception Report) and such delay precludes such Mortgage Loan Seller from curing such Defect or Breach.

 

(c)           
Subject to the applicable Mortgage Loan Seller’s right to cure as contemplated above in this Section 2.03,
and further subject to Section 2.01(b) and Section 2.01(c), any of the following will cause a
document in the Mortgage File to be deemed to have a “Defect” and to be conclusively presumed to materially and
adversely affect the interests of Certificateholders in a Mortgage Loan (but solely with respect to clause (a))
and to be deemed to materially and adversely affect the interest of the Certificateholders in and the value of a Mortgage
Loan: (a) the absence from the Mortgage File of the original signed Mortgage Note, unless the Mortgage File contains a
signed lost note affidavit and indemnity with a copy of the Mortgage Note that appears to be regular on its face;
(b) the absence from the Mortgage File of the original signed Mortgage that appears to be regular on its face, unless
there is included in the Mortgage File either a copy of the Mortgage with evidence of recording thereon or a copy of the
Mortgage and a certificate from the related Mortgage Loan Seller stating that the original signed Mortgage was sent for
recordation; (c) the absence from the Mortgage File of the item called for by clause (ix) of the definition
of “Mortgage File”; (d) the absence from the Mortgage File of any intervening assignments required to create
a complete chain of assignments to the Trustee on behalf of the Trust, unless there is included in the Mortgage File either a
copy of the assignment with evidence of recording thereon or a copy of the intervening assignment and a certificate from the
related Mortgage Loan Seller stating that the original intervening assignments were sent for filing or recordation, as
applicable; (e) the absence from the Mortgage File of any required letter of credit (except as permitted under Section 2.01(b));
or (f) with respect to any related leasehold Mortgage Loan, the absence from the related Mortgage File of a copy (or an
original, if available) of the related Ground Lease; provided, however, that no Defect (except the Defects
previously described in subclauses (a) through (f) of this Section 2.03(c)) shall be
considered to

 

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materially and adversely affect the value of the related Mortgage Loan, the value of the related Mortgaged
Property or the interests of the Trustee or Certificateholders unless the document with respect to which the Defect exists is
required in connection with an imminent enforcement of the mortgagee’s rights or remedies under the related Mortgage
Loan, defending any claim asserted by any Mortgagor or third party with respect to the related Mortgage Loan, establishing
the validity or priority of any lien on any collateral securing the related Mortgage Loan or for any immediate significant
servicing obligation. Notwithstanding the foregoing, the delivery of executed escrow instructions or a binding commitment to
issue a lender’s title insurance policy, as provided in clause (ix) of the definition of
“Mortgage File” herein, in lieu of the delivery of the actual policy of lender’s title insurance, shall not
be considered a Defect or Breach with respect to any Mortgage File if such actual policy is delivered to the Custodian not
later than eighteen (18) months following the Closing Date. Notwithstanding the foregoing, to the extent a Mortgage Loan
Seller has otherwise complied with its document delivery requirements under this Agreement and the related Mortgage Loan
Purchase Agreement, in the event that the Custodian has acknowledged receipt pursuant to Section 2.02 above of a
document that is part of the Mortgage File or a Mortgage Loan Seller can otherwise prove delivery of the document, and the
Custodian subsequently loses a document, the fact that such document is lost may not be utilized as the basis for a claim of
a Defect against a Mortgage Loan Seller pursuant to Section 6(e) of the related Mortgage Loan Purchase Agreement and/or
this Section 2.03 and the Custodian shall be liable for any such loss to the extent provided for in Section 8.01
hereof.

 

(d)          
In connection with any repurchase of, or substitution of a Qualified Substitute Mortgage Loan for a Mortgage Loan
contemplated by this Section 2.03, the Trustee, the Certificate Administrator, the Custodian, the Master Servicer
and the Special Servicer shall each tender to the applicable Mortgage Loan Seller, upon delivery to each of the Trustee, the
Certificate Administrator, the Custodian, the Master Servicer and the Special Servicer of a trust receipt executed by the
applicable Mortgage Loan Seller evidencing such repurchase or substitution, all portions of the Mortgage File and other
documents pertaining to such Mortgage Loan possessed by each of the Trustee, the Certificate Administrator, the Custodian,
the Master Servicer and the Special Servicer (other than attorney-client communications that are privileged communications),
and each document that constitutes a part of the Mortgage File that was endorsed or assigned to the Trustee shall be endorsed
or assigned, as the case may be to the applicable Mortgage Loan Seller in the same manner as provided in Section 6 of
the related Mortgage Loan Purchase Agreement and, if applicable, the definition of “Mortgage File” herein, so as
to vest in such Mortgage Loan Seller the legal and beneficial ownership of such repurchased or substituted Mortgage Loan
(including property acquired in respect thereof and proceeds of any insurance policy with respect thereto) and the related
Mortgage Loan documents.

 

(e)           
Section 6(e) of each of the Mortgage Loan Purchase Agreements provides the sole remedy available to the Certificateholders
(subject to the limitations on the rights of the Certificateholders under this Agreement), or the Trustee on behalf of the Certificateholders,
the Master Servicer or the Special Servicer, with respect to any Defect in a Mortgage File or any Breach of any representation
or warranty with respect to a Mortgage Loan set forth in or required to be made pursuant to Section 6 of any of the Mortgage
Loan Purchase Agreements; provided, however, that the foregoing shall in no way limit the ability of the Master
Servicer, Special Servicer or Trustee to take any action against Starwood or RTI, to the extent provided for

 

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pursuant to the related
Mortgage Loan Purchase Agreement, including, without limitation, pursuant to Sections 20 and 21 thereof or RAIT Financial
Trust to the extent provided for pursuant to the RAIT Financial Trust Guaranty.

 

(f)           
The Master Servicer (in the case of Non-Specially Serviced Mortgage Loans) or the Special Servicer (in the case of Specially Serviced
Mortgage Loans) shall, for the benefit of the Certificateholders and the Trustee (as holder of the Uncertificated Lower-Tier Interests),
enforce the obligations of the applicable Mortgage Loan Seller under the applicable Mortgage Loan Purchase Agreement. Such enforcement,
including, without limitation, the legal prosecution of claims, if any, shall be carried out in such form, to such extent and
at such time as the Master Servicer or the Special Servicer would require were it, in its individual capacity, the owner of the
affected Mortgage Loan(s). Any costs incurred by the Master Servicer or the Special Servicer with respect to the enforcement of
the obligations of the applicable Mortgage Loan Seller under the applicable Mortgage Loan Purchase Agreement shall, to the extent
not recovered from the applicable Mortgage Loan Seller, be deemed to be Servicing Advances to the extent not otherwise provided
for herein. The Master Servicer or the Special Servicer, as applicable, shall be reimbursed for the reasonable costs of such enforcement:
first, from a specific recovery, if any, of costs, expenses or attorneys’ fees against the applicable Mortgage Loan
Seller; second, pursuant to Section 3.05(a)(vii) herein out of the related Purchase Price, to the extent that
such expenses are a specific component thereof; and third, if at the conclusion of such enforcement action it is determined
that the amounts described in clauses first and second are insufficient, then pursuant to Section 3.05(a)(viii)
herein out of general collections on the Mortgage Loans on deposit in the Certificate Account. Any costs, expenses or attorneys’
fees related to a repurchase of a Companion Loan shall be paid pursuant to the related Intercreditor Agreement or pursuant to
the documents related to an Other Securitization, if applicable.

 

(g)           
If a Mortgage Loan Seller incurs any expense in connection with the curing of a Breach, which also constitutes a default
under the related Mortgage Loan and is reimbursable thereunder, such Mortgage Loan Seller shall have a right, and shall be
subrogated to the rights of the Trustee and the Trust Fund under the Mortgage Loan, to recover the amount of such expenses
from the related Mortgagor; provided, however, that such Mortgage Loan Seller’s rights pursuant to this Section 2.03(g) shall
be junior, subject and subordinate to the rights of the Trustee, the Certificate Administrator, the Trust Fund, the Master
Servicer and the Special Servicer to recover amounts owed by the related Mortgagor under the terms of such Mortgage
Loan, including, without limitation, the rights to recover unreimbursed Advances, accrued and unpaid interest on Advances at
the Reimbursement Rate, fees owed to the Special Servicer, and unpaid or unreimbursed expenses of the Trustee, the
Certificate Administrator, the Trust Fund, the Master Servicer or the Special Servicer allocable to such Mortgage Loan. The
Master Servicer or, with respect to a Specially Serviced Mortgage Loan, the Special Servicer, shall use reasonable efforts to
recover such expenses for such Mortgage Loan Seller to the extent consistent with the Servicing Standard, but taking into
account the subordinate nature of the reimbursement to the related Mortgage Loan Seller; provided, however,
that the Master Servicer or, with respect to a Specially Serviced Mortgage Loan, the Special Servicer, determines in the
exercise of its sole discretion consistent with the Servicing Standard that such actions by it will not impair the Master
Servicer’s and/or the Special Servicer’s collection or recovery of principal, interest and other sums due with
respect to the related Mortgage Loan that would otherwise be payable to the Master Servicer, the Special Servicer, the
Trustee, the Certificate Administrator

 

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and the Certificateholders pursuant to the terms of this Agreement; provided, further,
that the Master Servicer or, with respect to a Specially Serviced Mortgage Loan, the Special Servicer, may waive the
collection of amounts due on behalf of such Mortgage Loan Seller in its sole discretion in accordance with the Servicing
Standard.

 

(h)          
If (i) any Crossed Underlying Loan is required to be repurchased or substituted for in the manner described in this Section 2.03
and (ii) the applicable Defect or Breach does not constitute a Defect or Breach, as the case may be, as to any other
Crossed Underlying Loan in the related Crossed Mortgage Loan Group (without regard to this paragraph), then the applicable Defect
or Breach, as the case may be, will be deemed to constitute a Defect or Breach, as the case may be, as to any other Crossed Underlying
Loan in the related Crossed Mortgage Loan Group for purposes of this paragraph, and the related Mortgage Loan Seller will be required
to repurchase or substitute for such other Crossed Underlying Loan(s) in the related Crossed Mortgage Loan Group as provided in
Section 2.03(b) unless such other Crossed Underlying Loans satisfy the Crossed Underlying Loan Repurchase Criteria.
In the event that the remaining Crossed Underlying Loans in such Crossed Mortgage Loan Group satisfy the aforementioned criteria,
the applicable Mortgage Loan Seller may elect either to repurchase or substitute for only the affected Crossed Underlying Loan(s)
as to which the related Breach or Defect exists or to repurchase or substitute for all of the Crossed Underlying Loans in the
related Crossed Mortgage Loan Group. Any reserve or other cash collateral or letters of credit securing the Crossed Underlying
Loans shall be allocated among the related Crossed Underlying Loans in accordance with the related Mortgage Loan documents or
otherwise on a pro rata basis based upon their outstanding principal balances. Except as provided in this Section 2.03(h)
and Section 2.03(i), all other terms of the related Mortgage Loans shall remain in full force and effect without
any modification thereof.

 

(i)           
Notwithstanding the foregoing, if the related Mortgage provides for the partial release of one or more of the Crossed
Underlying Loans, the Depositor may cause the related Mortgage Loan Seller to repurchase only that Crossed Underlying Loan
required to be repurchased pursuant to this Section 2.03, pursuant to the partial release provisions of the
related Mortgage; provided, however, that (i) the remaining related Crossed Underlying Loan(s) fully
comply with the terms and conditions of the related Mortgage, this Agreement and the related Mortgage Loan Purchase
Agreement, including the Crossed Underlying Loan Repurchase Criteria, (ii) in connection with such partial release, the
related Mortgage Loan Seller obtains an Opinion of Counsel (at such Mortgage Loan Seller’s expense) to the effect that
the contemplated action will not cause any Trust REMIC to fail to qualify as a REMIC, or result in the imposition of any tax
on any Trust REMIC and (iii) in connection with such partial release, the related Mortgage Loan Seller delivers or
causes to be delivered to the Custodian original modifications to the Mortgage prepared and executed in connection with such
partial release.

 

(j)            
With respect to any Crossed Underlying Loan, to the extent that the applicable Mortgage Loan Seller is required to repurchase
or substitute for such Crossed Underlying Loan in the manner prescribed in Section 2.03(g) while the Trustee continues
to hold any other Crossed Underlying Loans in the related Crossed Mortgage Loan Group, the applicable Mortgage Loan Seller and
the Master Servicer on behalf of the Trustee, as assignee of the Depositor, will, as set forth in the related Mortgage Loan Purchase
Agreement, forbear from enforcing any remedies against the other’s Primary Collateral but each will be permitted to

 

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exercise
remedies against the Primary Collateral securing its respective related Mortgage Loans, including with respect to the Trustee,
the Primary Collateral securing the Mortgage Loans still held by the Trustee, so long as such exercise does not materially impair
the ability of the other party to exercise its remedies against its Primary Collateral. If the exercise of the remedies by one
party would materially impair the ability of the other party to exercise its remedies with respect to the Primary Collateral securing
the Crossed Underlying Loans held by such party, then both parties have agreed in the related Mortgage Loan Purchase Agreement
to forbear from exercising such remedies until the Mortgage Loan documents evidencing and securing the relevant Mortgage Loan
can be modified in a manner that complies with the related Mortgage Loan Purchase Agreement to remove the threat of material impairment
as a result of the exercise of remedies.

 

Section 2.04      Execution
of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee hereby acknowledges the assignment to it of
the Mortgage Loans and, subject to Section 2.01 and 2.02, the delivery to the Custodian of the
Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the
assignment to it of all of the other assets included in the Lower-Tier REMIC and the Grantor Trust. Concurrently with such
assignment and delivery the Trustee (i) acknowledges the issuance of the Uncertificated Lower-Tier Interests and the
Class LR Interest to the Depositor in exchange for the Mortgage Loans and the other assets comprising the Lower-Tier
REMIC, receipt of which is hereby acknowledged; (ii) acknowledges the creation of the Grantor Trust (as described in Section 2.05
below); (iii) acknowledges the contribution by the Depositor of the Uncertificated Lower-Tier Interests to the
Upper-Tier REMIC; and (iv) immediately thereafter, in exchange for the Uncertificated Lower-Tier Interests and $100
deposit by the Depositor in respect of the Class X-C Certificates, the Trustee acknowledges that it has caused the
Certificate Administrator to issue the Class UR Interest and has caused the Certificate Registrar to execute and caused the
Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, the Regular Certificates, and the
Depositor hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing
the entire beneficial ownership of the Upper-Tier REMIC (and additionally, in the case of the Class R Certificates, the
Class LR Interest and the Class UR Interest); and (vi) the Trustee acknowledges that it has caused the
Certificate Administrator to issue the Class EC Certificates and has caused the Certificate Registrar to execute and
cause the Authenticating Agent to deliver to or upon the order of the Depositor such Certificates, and the Depositor hereby
acknowledges the receipt by it, or its designees, of such Certificates in authorized denominations, evidencing beneficial
ownership of the respective portion of the Grantor Trust.

 

Section 2.05     
Creation of the Grantor Trust. The Class EC Certificates are hereby designated as undivided beneficial interests in
the portion of the Trust Fund consisting of the uncertificated regular interests in the Upper-Tier REMIC represented by any Exchangeable
Certificates that have been exchanged and converted for the Class EC Certificates and the Class EC Distribution Account,
which portions shall be treated as a grantor trust within the meaning of subpart E, part I of subchapter J of the
Code. For federal income tax purposes, the regular interests in the Upper-Tier REMIC represented by the classes of Exchangeable
Certificates (or portions thereof) that have been exchanged for Class EC Certificates shall be deemed to continue to be outstanding
and represented by the Class EC Certificates, and upon a

 

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reconversion of Class EC Certificates for Exchangeable Certificates,
shall again be deemed to be represented by such Exchangeable Certificates.

 

[End
of Article II]

 

Article III

ADMINISTRATION AND

SERVICING OF THE TRUST FUND

 

Section 3.01      Master
Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans, the
Serviced Companion Loans and REO Properties. (a) Each of the Master Servicer and Special Servicer shall
diligently service and administer the Mortgage Loans (other than any Non-Serviced Mortgage Loan), the Serviced Whole Loans
and the REO Properties (other than any REO Property related to a Non-Serviced Mortgage
Loan) it is obligated to service pursuant to applicable law, this Agreement and the Mortgage Loan documents on behalf of the
Trust and in the best interests of and for the benefit of the Certificateholders and, in the case of the Serviced
Companion Loans, the related Companion Holders and the Trustee (as holder of the Uncertificated Lower-Tier Interests), as a
collective whole, taking into account the subordinate or pari passu nature of such Companion Loans, as the case may be
(as determined by the Master Servicer or Special Servicer, as the case may be, in its reasonable judgment), in accordance
with applicable law, the terms of this Agreement (and, with respect to each Serviced Whole Loan or any Mortgage Loan with
related mezzanine debt, the related Intercreditor Agreement) and the terms of the respective Mortgage Loans and, if
applicable, the related Companion Loan(s), taking into account the subordinate or pari passu nature of such Companion
Loan(s), as the case may be. With respect to each Serviced Whole Loan, in the event of a conflict between this Agreement and
the related Intercreditor Agreement, the related Intercreditor Agreement shall control; provided that in no event
shall the Master Servicer or the Special Servicer, as the case may be, take any action or omit to take any action in
accordance with the terms of any Intercreditor Agreement that would cause the Master Servicer or the Special Servicer, as the
case may be, to violate the Servicing Standard or the REMIC Provisions. To the extent consistent with the foregoing,
the Master Servicer and the Special Servicer shall service the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and
the Serviced Companion Loans in accordance with the higher of the following standards of care: (1) in the same manner in
which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the
case may be, services and administers similar mortgage loans for other third party portfolios and (2) the same care,
skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and
administers similar mortgage loans owned by the Master Servicer or the Special Servicer, as the case may be, with a view to
the maximization of timely recovery of principal and interest on a net present value basis on such Mortgage Loans or such
Specially Serviced Mortgage Loans and any related Serviced Companion Loan, as applicable, and the best interests of the Trust
and the Certificateholders (and in the case of a Serviced Whole Loan, any related Companion Holder, taking into account the
subordinate or pari passu nature of the related Companion Loan, as applicable), as determined by the Master Servicer
or the Special Servicer, as the case may be, in its reasonable judgment, in either case giving due consideration

 

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to the
customary and usual standards of practice of prudent institutional, multifamily and commercial mortgage loan servicers, but
without regard to any conflict of interest arising from: (i) any relationship that the Master Servicer, the Special
Servicer or any Affiliate of the Master Servicer or the Special Servicer may have with any Mortgagor or any Affiliate of such
Mortgagor, any Mortgage Loan Seller or any other parties to this Agreement; (ii) the ownership of any Certificate,
Companion Loan, or mezzanine loan by the Master Servicer, the Special Servicer or any Affiliate of the Master Servicer or the
Special Servicer, as applicable; (iii) any obligation to make Advances; (iv) the adequacy of the Master
Servicer’s or the Special Servicer’s, as the case may be, right to receive compensation for its services and
reimbursement for its costs hereunder or with respect to any particular transaction; (v) the ownership, servicing
or management for others of any other mortgage loans, subordinate interests, subordinate debt, mezzanine loans or mortgaged
properties by the Master Servicer or the Special Servicer; (vi) any option to purchase any Mortgage Loan, the related
Companion Loan it may have; and (vii) any other debt the Master Servicer or the Special Servicer or any of its
Affiliates has extended to any Mortgagor or any of its Affiliates (the foregoing, collectively referred to as the
“Servicing Standard”).

 

The
Master Servicer and the Special Servicer shall act in accordance with the Servicing Standard with respect to any action required
to be taken regarding the Non-Serviced Mortgage Loans pursuant to their obligations under this Agreement.

 

Without
limiting the foregoing, subject to Section 3.21, the Special Servicer shall be obligated to service and
administer (i) any Mortgage Loans (other than the Non-Serviced Mortgage Loans), any related Serviced Companion Loans as
to which a Servicing Transfer Event has occurred and is continuing (each, a “Specially Serviced Mortgage
Loan”) and (ii) any REO Properties (other than the Non-Serviced Mortgaged Properties); provided that
the Master Servicer shall continue to receive payments and make all calculations, and prepare, or cause to be prepared, all
reports, required hereunder with respect to the Specially Serviced Mortgage Loans, except for the reports specified herein as
prepared by the Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the REO Properties (and
the related REO Loans) as if no REO Acquisition had occurred, and to render such services with respect to such Specially
Serviced Mortgage Loans and REO Properties as are specifically provided for herein; provided, further, however,
that the Master Servicer shall not be liable for failure to comply with such duties insofar as such failure results from a
failure of the Special Servicer to provide sufficient information to the Master Servicer to comply with such duties or
failure by the Special Servicer to otherwise comply with its obligations hereunder. The Master Servicer, in its capacity as
Master Servicer, will not have any responsibility for the performance by the Special Servicer, in its capacity as Special
Servicer, of its duties under this Agreement. The Special Servicer, in its capacity as Special Servicer, will not have any
responsibility for the performance by the Master Servicer, in its capacity as Master Servicer, of its duties under this
Agreement. Each Mortgage Loan or any related Serviced Companion Loan, that becomes a Specially Serviced Mortgage Loan shall
continue as such until satisfaction of the conditions specified in Section 3.21(a). Without limiting the
foregoing, subject to Section 3.21, the Master Servicer shall be obligated to service and administer any
Non-Specially Serviced Mortgage Loan or any related Serviced Companion Loan. The Special Servicer shall make the property
inspections, use its reasonable efforts to collect the financial statements, budgets, operating statements and rent rolls and
forward to the Master Servicer the reports in respect of the related Mortgaged

 

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Properties with respect to Specially Serviced
Mortgage Loans in accordance with Section 3.12. After notification to the Master Servicer, the Special Servicer
may contact the Mortgagor of any Non-Specially Serviced Mortgage Loan if efforts by the Master Servicer to collect required
financial information have been unsuccessful or any other issues remain unresolved. Such contact shall be coordinated through
and with the cooperation of the Master Servicer. No provision herein contained shall be construed as an express or implied
guarantee by the Master Servicer or the Special Servicer of the collectability or recoverability of payments on the Mortgage
Loans or any related Serviced Companion Loan or shall be construed to impair or adversely affect any rights or benefits
provided by this Agreement to the Master Servicer or the Special Servicer (including with respect to Servicing Fees, Special
Servicing Fees or the right to be reimbursed for Advances and interest accrued thereon). Any provision in this Agreement for
any Advance by the Master Servicer or the Trustee is intended solely to provide liquidity for the benefit of the
Certificateholders and not as credit support or otherwise to impose on any such Person the risk of loss with respect to one
or more of the Mortgage Loans or any related Serviced Companion Loans. No provision hereof shall be construed to impose
liability on the Master Servicer or the Special Servicer for the reason that any recovery to the Certificateholders in
respect of a Mortgage Loan at any time after a determination of present value recovery is less than the amount reflected in
such determination.

 

(b)          
Subject only to the Servicing Standard and the terms of this Agreement (including, without limitation, Section 6.07
hereof) and of the respective Mortgage Loans or any related Serviced Companion Loans and any related Intercreditor
Agreement, if applicable, and applicable law, the Master Servicer and the Special Servicer each shall have full power and
authority, acting alone or, in the case of the Master Servicer, subject to Section 3.22, through one or more
Sub-Servicers, to do or cause to be done any and all things in connection with such servicing and administration for which it
is responsible which it may deem necessary or desirable. Without limiting the generality of the foregoing, each of the Master
Servicer and the Special Servicer, in its own name (or in the name of the Trustee and, if applicable, the related Serviced
Companion Noteholder), is hereby authorized and empowered by the Trustee to execute and deliver, on behalf of the
Certificateholders (and, with respect to a Serviced Companion Loan, the related Serviced Companion Noteholder) and the
Trustee or any of them, with respect to each Mortgage Loan or any related Serviced Companion Loan, it is obligated to service
under this Agreement: (i) any and all financing statements, continuation statements and other documents or instruments
necessary to maintain the lien created by the related Mortgage or other security document in the related Mortgage File on the
related Mortgaged Property and related collateral, and shall, from time to time, execute and/or deliver such financing
statements, continuation statements and other documents or instruments as necessary to maintain the lien created by the
related Mortgage or other security document in the related Mortgage File on the related Mortgaged Property and related
collateral; (ii) subject to Sections 3.08, 3.20 and 6.07, any and all
modifications, waivers, amendments or consents to, under or with respect to any documents contained in the related Mortgage
File; (iii) any and all instruments of satisfaction or cancellation, pledge agreements and other documents in connection
with a defeasance, or of partial or full release or discharge, and all other comparable instruments; and (iv) any or all
complaints or other pleadings to initiate and/or to terminate any action, suit or proceeding on behalf of the Trust (in their
representative capacities (except as set forth below in this paragraph). The Master Servicer (with respect to Non-Specially
Serviced Mortgage Loans) and the Special Servicer (with respect to Specially Serviced Mortgage Loans) shall provide to the
Mortgagor

 

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related to such Mortgage Loans that it is servicing any reports required to be provided to them pursuant to the
related Mortgage Loan documents. Subject to Section 3.10, the Trustee shall (i) on the Closing Date, furnish
to the Master Servicer and the Special Servicer original powers of attorney in the form of Exhibit R-1 or Exhibit
R-2 attached hereto, as applicable (or such other form as mutually agreed to by the Trustee and the Master Servicer or
the Special Servicer, as applicable) and (ii) upon request, furnish, or cause to be furnished, to the Master Servicer or
the Special Servicer any powers of attorney substantially in the form of Exhibit R-1 or Exhibit R-2
attached hereto, as applicable (or such other form as mutually agreed to by the Trustee and the Master Servicer or the
Special Servicer, as applicable) and other documents necessary or appropriate to enable the Master Servicer or the Special
Servicer, as the case may be, to carry out its servicing and administrative duties hereunder; provided, however,
that the Trustee shall not be held responsible or liable for any acts of the Master Servicer or the Special Servicer, or for
any negligence with respect to, or misuse of, any such power of attorney by the Master Servicer or the Special Servicer.
Notwithstanding anything contained herein to the contrary, the Master Servicer or the Special Servicer, as the case may be,
shall not, without the Trustee’s written consent: (i) initiate any action, suit or proceeding solely under the
Trustee’s name without indicating the Master Servicer’s or the Special Servicer’s, as the case may be,
representative capacity (unless prohibited by any requirement of the applicable jurisdiction in which any such action, suit
or proceeding is brought and if so prohibited, in the manner required by such jurisdiction (provided that the Master
Servicer or Special Servicer, as applicable, shall then provide five (5) Business Days’ written notice to the Trustee
of the initiation of such action, suit or proceeding (or such shorter time period as is reasonably required in the judgment
of the Master Servicer or the Special Servicer, as applicable, made in accordance with the Servicing Standard) prior to
filing such action, suit or proceeding), and shall not be required to obtain the Trustee’s consent or indicate the
Master Servicer’s or Special Servicer’s, as applicable, representative capacity)) or (ii) take any action
with the intent to cause, and that actually causes, the Trustee to be required to be registered to do business in any
state.

 

(c)           
To the extent the Master Servicer is permitted pursuant to the terms of the related Mortgage Loan documents or Companion
Loan documents (including any related Intercreditor Agreement) to exercise its discretion with respect to any action which
requires Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced
Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered satisfied in the
same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30),
the Master Servicer shall require the costs of such Rating Agency Confirmation to be borne by the related Mortgagor. To the
extent the terms of the related Mortgage Loan documents or Companion Loan documents (including any related Intercreditor
Agreement) require the Mortgagor to bear the costs of any Rating Agency Confirmation or confirmation of any applicable rating
agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any
class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates
pursuant to Section 3.30), the Master Servicer shall not waive the requirement that such costs and expenses be
borne by the related Mortgagor. To the extent that the terms of the related Mortgage Loan documents or Companion Loan
documents (including any related

 

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Intercreditor Agreement) are silent as to who bears the costs of any Rating Agency
Confirmation or confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be
considered satisfied with respect to the Certificates pursuant to Section 3.30), the Master Servicer shall use
reasonable efforts to have the Mortgagor bear such costs and expenses. The Master Servicer shall not be responsible for the
payment of such costs and expenses out of pocket other than as a Servicing Advance.

 

(d)          
The relationship of each of the Master Servicer and the Special Servicer to the Trustee under this Agreement is intended by the
parties to be that of an independent contractor and not that of a joint venturer, partner or agent.

 

(e)          
The Master Servicer shall, to the extent permitted by the related Mortgage Loan documents or any related Companion Loan documents,
and consistent with the Servicing Standard, permit Escrow Payments to be invested only in Permitted Investments.

 

(f)           
Within sixty (60) days (or such shorter time period as is required by the terms of the applicable Mortgage Loan documents)
after the later of (i) the receipt thereof by the Master Servicer and (ii) the Closing Date, (x) the
applicable Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement shall notify each provider of a letter of
credit for each Mortgage Loan identified as having a letter of credit on the Mortgage Loan Schedule, that the Master Servicer
(in care of the Trustee, as titled in Section 2.01(b)) for the benefit of the Certificateholders and any related
Companion Holders shall be the beneficiary under each such letter of credit and (y) the Master Servicer shall notify
each lessor under a Ground Lease for each Mortgage Loan identified as subject to a leasehold interest on the Mortgage Loan
Schedule, that the Trust is the leasehold mortgagee and that the Master Servicer or the Special Servicer shall service the
related Mortgage Loan for the benefit of the Certificateholders. If a letter of credit is required to be drawn upon earlier
than the date the applicable Mortgage Loan Seller has notified the provider of such letter of credit pursuant to clause (x)
of the immediately preceding sentence, such Mortgage Loan Seller shall cooperate with the reasonable requests of the Master
Servicer or Special Servicer in connection with making a draw under such letter of credit. If the Mortgage Loan documents do
not require the related Mortgagor to pay any costs and expenses relating to any modifications to or assignment of the related
letter of credit, then the applicable Mortgage Loan Seller shall pay such costs and expenses as and to the extent required
under the applicable Mortgage Loan Purchase Agreement. If the Mortgage Loan documents require the related Mortgagor to pay
any costs and expenses relating to any modifications to the related letter of credit, and such Mortgagor fails to pay such
costs and expenses after the Master Servicer has exercised reasonable efforts to collect such costs and expenses from such
Mortgagor, then the Master Servicer shall give the applicable Mortgage Loan Seller notice of such failure and the amount of
costs and expenses, and such Mortgage Loan Seller shall pay such costs and expenses as and to the extent required under the
applicable Mortgage Loan Purchase Agreement. The costs and expenses of any modifications to Ground Leases shall be paid by
the related Mortgagor. Neither the Master Servicer nor the Special Servicer shall have any liability for the failure of any
Mortgage Loan Seller to perform its obligations under the related Mortgage Loan Purchase Agreement.

 

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(g)          
Notwithstanding anything herein to the contrary, in no event shall the Master Servicer (or the Trustee, as applicable) make an
Advance with respect to any Companion Loan to the extent the related Serviced Mortgage Loan has been paid in full or is no longer
included in the Trust Fund.

 

(h)          
Servicing and administration of each Serviced Companion Loan shall continue hereunder and in accordance with the related Intercreditor
Agreement for so long as the corresponding Serviced Mortgage Loan or any related REO Property is part of the Trust Fund or for
such longer period as is contemplated by the related Intercreditor Agreement and, to the extent consistent with the related Intercreditor
Agreement, as any amounts payable by the related Companion Holder to or for the benefit of the Trust or any party hereto, or payable
to the related Companion Holder, in accordance with the related Intercreditor Agreement remain due and owing.

 

(i)           
The Special Servicer agrees that upon the occurrence of a Servicing Transfer Event with respect to any Mortgage Loan or Serviced
Whole Loan, that is subject to or becomes subject to an Intercreditor Agreement in the future, it shall, subject to Section 3.21,
use commercially reasonable efforts to enforce, on behalf of the Trust, subject to the Servicing Standard and to the extent the
Special Servicer determines such action is in the best interests of the Trust Fund, all rights conveyed to the Trustee pursuant
to any such Intercreditor Agreement. The costs and expenses incurred by the Special Servicer in connection with such enforcement
shall be paid as a Trust Fund expense or, subject to the terms of the applicable Intercreditor Agreement, (i) with respect
to any Serviced Pari Passu Whole Loan, pro rata and pari passu, by the Trust Fund and Serviced Pari Passu Companion
Loan, in accordance with the respective Stated Principal Balances of the related Serviced Pari Passu Mortgage Loan and Serviced
Pari Passu Companion Loan or (ii) with respect to any AB Whole Loan, first, by the related AB Subordinate Companion Loan
and then, by the Trust Fund.

 

(j)            
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that, to the extent required under
the related Intercreditor Agreement, the servicing and administration of a Serviced Whole Loan shall continue hereunder (but
not with respect to making Advances) even if the related Serviced Mortgage Loan is no longer part of the Trust Fund, until
such time as a separate servicing agreement is entered into in accordance with the related Intercreditor Agreement (it being
acknowledged that neither the Master Servicer nor the Special Servicer shall be obligated under a separate agreement to which
it is not a party); provided that, other than pursuant to Section 6.03 (and, with respect to Section 6.03,
solely with respect to claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and
any other costs, liabilities, fees and expenses incurred in connection with a legal claim or action resulting from an action
or inaction taken or not taken while the related Serviced Mortgage Loan was part of the Trust Fund), no costs, expenses,
losses or fees accruing with respect to such Serviced Whole Loan on and after the date the related Serviced Mortgage Loan is
no longer part of the Trust Fund shall be payable out of the Trust Fund and the Master Servicer shall have no obligation to
make any Advance on or after the date such Serviced Mortgage Loan ceases to be part of the Trust Fund; provided, however,
that if, in the case of any Serviced Pari Passu Whole Loan, the related Serviced Companion Loan continues to be included in
an Other Securitization, then for so long as a separate servicing agreement (pursuant to the related Intercreditor Agreement)
has not been entered into, the Master Servicer shall inform the related

 

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Other Servicer of any need to make Servicing Advances
with respect to a Serviced Whole Loan within three (3) Business Days of determining that such an Advance is necessary or
being notified that such an Advance is necessary, or in the case of a Servicing Advance that needs to be made on an emergency
or urgent basis, within one (1) Business Day. With respect to Servicing Advances made by any Other Servicer as contemplated
in the proviso to the preceding sentence, the Master Servicer shall, from collections on the related Serviced Whole Loan (but
never out of general collections on the Mortgage Loans and REO Properties) received by the Master Servicer, reimburse the
Other Servicer for such Servicing Advances in the same manner and on the same level of priority as if such Servicing Advances
had been made by the Master Servicer hereunder.

 

(k)          
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and
the Special Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s
authority with respect to a Non-Serviced Mortgage Loan are limited by and subject to the terms of the related Non-Serviced Intercreditor
Agreement and the rights of the related Non-Serviced Master Servicer and Non-Serviced Special Servicer with respect thereto under
the related Non-Serviced Pooling Agreement. The Master Servicer (or, with respect to any Specially Serviced Mortgage Loan, the
Special Servicer) shall use reasonable efforts consistent with the Servicing Standards to enforce the rights of the Trustee (as
holder of a Non-Serviced Mortgage Loan) under the related Non-Serviced Intercreditor Agreement and Non-Serviced Pooling Agreement.

 

(l)           
The parties hereto acknowledge that each Non-Serviced Mortgage Loan is subject to the terms and conditions of the related
Non-Serviced Intercreditor Agreement and further acknowledge that, pursuant to the related Non-Serviced Intercreditor
Agreement, (i) the related Non-Serviced Mortgage Loan is to be serviced and administered by the related Non-Serviced
Master Servicer and Non-Serviced Special Servicer in accordance with the related Non-Serviced Pooling Agreement, and
(ii) in the event that (A) the related Non-Serviced Companion Loan is no longer part of the trust fund created by the
related Non-Serviced Pooling Agreement and (B) the related Non-Serviced Mortgage Loan is included in the Trust Fund,
then, as set forth in the related Non-Serviced Intercreditor Agreement, the related Non-Serviced Whole Loan shall continue to
be serviced in accordance with the related Non-Serviced Pooling Agreement, until such time as a new servicing agreement has
been agreed to by the parties to the related Non-Serviced Intercreditor Agreement in accordance with the provisions of such
agreement and confirmation has been obtained from the Rating Agencies that such new servicing agreement would not result in a
downgrade, qualification or withdrawal of the then current ratings of any Class of Certificates then outstanding.

 

(m)         
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and
the Special Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s
authority with respect to a Serviced Whole Loan are limited by, and subject to, the terms of the related Intercreditor Agreement.
The Master Servicer (or, if a Serviced Whole Loan becomes a Specially Serviced Mortgage Loan, the Special Servicer) shall use
reasonable efforts consistent with the Servicing Standard to obtain the benefits of the rights of the Trust Fund (as holder of
the related Serviced Mortgage Loan) under the related Intercreditor Agreement. In the event of any conflict between this Agreement
and the related Intercreditor Agreement, the provisions of the related Intercreditor Agreement shall control.

 

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(n)          
In connection with the securitization of any of (a) the One City Centre Pari Passu Companion Loan, (b) the JAGR Portfolio Pari
Passu Companion Loan and (c) the Marriott-Pittsburgh Pari Passu Companion Loan while it is a Serviced Companion Loan, upon the
request of (and at the expense of) the related Serviced Companion Noteholder (or its designee), each of the Master Servicer, the
Special Servicer (if such Serviced Companion Loan is a Specially Serviced Mortgage Loan) and the Trustee, as applicable, shall
use reasonable efforts to cooperate with such Serviced Companion Noteholder in attempting to cause the related Mortgagor to provide
information relating to such Whole Loan and the related notes that such holder reasonably determines to be necessary or appropriate
for inclusion in any disclosure document(s) relating to such Other Securitization.

 

Section 3.02      Collection
of Mortgage Loan Payments. (a)  Each of the Master Servicer and the Special Servicer shall make
reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans and the Companion
Loans it is obligated to service hereunder, and shall follow such collection procedures as are consistent with this Agreement
(including, without limitation, the Servicing Standard). The Master Servicer or the Special Servicer, as applicable, may in
its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan and Companion Loan that
it is obligated to service hereunder three (3) times during any period of twenty-four (24) consecutive months with respect to
any Mortgage Loan and Serviced Companion Loan; provided that the Master Servicer or the Special Servicer, as
applicable, may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan and
Companion Loan one additional time in such 24-month period so long as with respect to any of the foregoing waivers, no
Advance or additional Trust Fund expense has been incurred and remains unreimbursed to the Trust with respect to such
Mortgage Loan or Companion Loan. Any additional waivers during such 24-month period with respect to such Mortgage Loan may be
made, subject to the Servicing Standard, only after the Master Servicer or Special Servicer, as applicable, has, prior to the
occurrence of a Consultation Termination Event, given notice of a proposed waiver to the Directing Certificateholder and,
prior to the occurrence and continuance of a Control Event, the Directing Certificateholder has consented to such additional
waiver (provided that if the Master Servicer or Special Servicer, as applicable, fails to receive a response to such
notice from the Directing Certificateholder in writing within five (5) days of giving such notice, then the Directing
Certificateholder shall be deemed to have consented to such proposed waiver); provided, further, that after the
occurrence and during the continuance of a Control Event, the Master Servicer or Special Servicer, as applicable, may waive
any Penalty Charge in accordance with the Servicing Standard without the consent of the Directing
Certificateholder.

 

(b)          
(i)  All amounts collected by or on behalf of the Trust in respect of a Mortgage Loan shall be applied to amounts due
and owing under the Mortgage Loan documents (including for principal and accrued and unpaid interest) in accordance with the express
provisions of the Mortgage Loan documents and any related Intercreditor Agreement; provided, however, that absent
express provisions in the related Mortgage Loan documents (including any related Intercreditor Agreement), other than with respect
to the application of Liquidation Proceeds, all amounts collected by or on behalf of the Trust in respect of a Mortgage Loan in
the form of payments from the related Mortgagor or Insurance and Condemnation Proceeds under the Mortgage Loan or any proceeds
(other than Liquidation Proceeds) with respect to any REO

 

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Loan (exclusive of amounts payable to any applicable Companion Loan
pursuant to the terms of the related Intercreditor Agreement) will be applied in the following order of priority:

 

first,
as a reimbursement first, to the Trustee and second, to the Master Servicer for any outstanding Advances related
to such Mortgage Loan or REO Loan (including Workout-Delayed Reimbursement Amounts that have not been reimbursed to the Master
Servicer) and interest thereon as provided in this Agreement and unpaid servicing compensation and related additional Trust Fund
expenses;

 

second,
as a recovery of accrued and unpaid interest on such Mortgage Loan or REO Loan, that has not been the subject of a P&I Advance,
at the related Mortgage Rate in effect from time to time through the end of the related Interest Accrual Period, less any Appraisal
Reduced Interest;

 

third,
as a recovery of Unliquidated Advances, and, without duplication, principal of such Mortgage Loan or REO Loan then due and owing,
in each case, that were paid from collections on the Mortgage Loans and resulted in principal distributed to the Certificateholders
being reduced as a result of the first proviso in the definition of “Principal Distribution Amount”;

 

fourth,
as a recovery of Nonrecoverable Advances;

 

fifth,
to the extent not previously allocated pursuant to clause first above, as a recovery of principal of such Mortgage
Loan then due and owing, including by reason of acceleration of such Mortgage Loan following a default thereunder (or, if the
Mortgage Loan has been liquidated, as a recovery of principal to the extent of its entire remaining unpaid principal balance);

 

sixth,
as a recovery of Appraisal Reduced Interest; and

 

seventh,
in accordance with the Servicing Standard, as a recovery of any other amounts due and owing on such Mortgage Loan, including,
without limitation, late payment charges and Default Interest and Yield Maintenance Charges;

 

provided that
payments or proceeds received with respect to any partial release of a Mortgaged Property or any portion thereof
(including pursuant to a condemnation) at a time when the loan-to-value ratio of the related Mortgage Loan or Serviced Whole
Loan, as applicable, exceeds 125% (based solely on the value of the real property, and excluding the value of the personal
property and going concern value, if any) must be applied to reduce the principal balance of such Mortgage Loan or Serviced
Whole Loan, as applicable, in the manner permitted by the REMIC Provisions; provided, further, that if a
Non-Serviced Mortgage Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole Loan become REO Loans,
the treatment of the foregoing amounts with respect to such Non-Serviced Whole Loan shall be subject to the terms of the
related Non-Serviced Intercreditor Agreement and Non-Serviced Pooling Agreement, in that order; provided, further,
that with respect to each Mortgage Loan related to a Serviced Whole Loan, amounts collected with respect to the related
Serviced Whole Loan shall be allocated first pursuant to the terms of the related Intercreditor Agreement and then,
any amounts allocated to the related Serviced Mortgage Loan shall be subject to application as described above. 

 

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(ii)              Liquidation Proceeds in respect of each Mortgage
Loan or REO Loan (in the case of an REO Loan, exclusive of amounts payable to any applicable Companion Loan pursuant to the terms
of the related Intercreditor Agreement) shall be applied in the following order of priority:

 

first,
as a reimbursement first, to the Trustee and second, to the Master Servicer for any outstanding Advances related
to such Mortgage Loan or REO Loan (including Workout-Delayed Reimbursement Amounts that have not been reimbursed to the Master
Servicer) and interest thereon as provided in this Agreement and unpaid servicing compensation, liquidation expenses and related
additional Trust Fund expenses);

 

second,
as a recovery of accrued and unpaid interest on such Mortgage Loan or REO Loan that has not been the subject of a P&I Advance,
at the related Mortgage Rate in effect from time to time through the end of the related Interest Accrual Period, less any Appraisal
Reduced Interest;

 

third,
as a recovery of Unliquidated Advances and, without duplication, principal of such Mortgage Loan or REO Loan then due and owing,
in each case, that were paid from collections on the Mortgage Loans and resulted in principal distributed to the Certificateholders
being reduced as a result of the first proviso in the definition of “Principal Distribution Amount”;

 

fourth,
as a recovery of Nonrecoverable Advances;

 

fifth,
as a recovery of principal of such Mortgage Loan to the extent of its entire unpaid principal balance;

 

sixth,
as a recovery of Appraisal Reduced Interest; and

 

seventh,
in accordance with the Servicing Standard, as a recovery of any other amounts due and owing on such Mortgage Loan including, without
limitation, late payment charges and Default Interest and Yield Maintenance Charges;

 

provided that
if a Non-Serviced Mortgage Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole Loan becomes an
REO Loan, the treatment of the foregoing amounts with respect to such Non-Serviced Whole Loan shall be subject to the
terms of the related Non-Serviced Intercreditor Agreement and Non-Serviced Pooling Agreement, in that order; provided, further,
that with respect to each Mortgage Loan related to a Serviced Whole Loan, amounts collected with respect to the related
Serviced Whole Loan shall be allocated first pursuant to the terms of the related Intercreditor Agreement and then,
any amounts allocated to the related Serviced Mortgage Loan shall be subject to application as described above. 

 

(iii)           
Notwithstanding clauses (i) and (ii) above, such provisions shall not be deemed to affect the priority of distributions
of payments pursuant to the provisions of this Agreement. To the extent that such amounts are paid by a party other than a Mortgagor,
such amounts shall be deemed to have been paid in respect of a purchase of all or part of the Mortgaged Property (in the case
of Insurance and Condemnation

 

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Proceeds or Liquidation Proceeds) and then paid by the Mortgagor under the Mortgage Loan or Companion
Loan, as applicable, or in accordance with Section 3.02(b)(ii) above.

 

(c)           
To the extent consistent with the terms of the Mortgage Loans (and, with respect to each Serviced Whole Loan, the related Serviced
Companion Loan and the related Intercreditor Agreement) and applicable law, the Master Servicer shall apply all Insurance and
Condemnation Proceeds it receives on a day other than the Due Date to amounts due and owing under the related Mortgage Loan or
Companion Loan as if such Insurance and Condemnation Proceeds were received on the Due Date immediately succeeding the month in
which such Insurance and Condemnation Proceeds were received and otherwise in accordance with Section 3.02(b)(ii)
above.

 

(d)           
[Reserved].

 

(e)           
With respect to any Mortgage Loan in connection with which the Mortgagor was required to escrow funds or to post a letter of credit
related to obtaining certain performance objectives described in the applicable Mortgage Loan documents, as applicable, the Master
Servicer shall, to the extent consistent with the Servicing Standard, hold such escrows, letters of credit and proceeds thereof
as additional collateral and not apply such items to reduce the principal balance of such Mortgage Loan or Serviced Companion
Loan, unless otherwise required to do so pursuant to the applicable Mortgage Loan documents, applicable law or court order.

 

(f)           
Promptly following the Closing Date, in the case of any Non-Serviced Whole Loan, the Certificate Administrator shall send
written notice (in the form attached hereto as Exhibit T) to the related Non-Serviced Master Servicer stating
that, as of such date, the Trustee is the holder of the related Non-Serviced Mortgage Loan and directing such Non-Serviced
Master Servicer to remit to the Master Servicer all amounts payable to, and to forward, deliver or otherwise make available,
as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are
to be forwarded, delivered or otherwise made available to, the holder of such Non-Serviced Mortgage Loan under the related
Non-Serviced Intercreditor Agreement and the related Non-Serviced Pooling Agreement. The Master Servicer shall, within two
(2) Business Days of receipt of properly identified funds, deposit into the Certificate Account all amounts received with
respect to the related Non-Serviced Mortgage Loan, the related Non-Serviced Mortgaged Property or any related REO
Property.

 

Section 3.03     
Collection of Taxes, Assessments and Similar Items; Servicing Accounts. (a)  The Master Servicer shall establish
and maintain one or more accounts (the “Servicing Accounts”), into which all Escrow Payments shall be deposited
and retained, and shall administer such Servicing Accounts in accordance with the Mortgage Loan documents and, if applicable,
the Companion Loan documents. Any Servicing Account related to a Serviced Whole Loan shall be held for the benefit of the Certificateholders
and the related Serviced Companion Noteholder collectively, but this shall not be construed to modify respective interests of
either noteholder therein as set forth in the related Intercreditor Agreement. Amounts on deposit in Servicing Accounts may only
be invested in accordance with the terms of the related Mortgage Loan documents and Serviced Companion Loan documents, as applicable,
or in

 

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Permitted Investments in accordance with the provisions of Section 3.06. Servicing Accounts shall be Eligible
Accounts to the extent permitted by the terms of the related Mortgage Loan documents. Withdrawals of amounts so deposited from
a Servicing Account may be made only to: (i) effect payment of items for which Escrow Payments were collected and comparable
items; (ii) reimburse the Trustee and then the Master Servicer, if applicable, for any Servicing Advances; (iii) refund
to Mortgagors any sums as may be determined to be overages; (iv) pay interest to Mortgagors on balances in the Servicing
Account, if required by applicable law or the terms of the related Mortgage Loan or Companion Loan and as described below or,
if not so required, to the Master Servicer; (v) after the occurrence of an event of default under the related Mortgage Loan
or Companion Loan, apply amounts to the indebtedness under the applicable Mortgage Loan or Companion Loan; (vi) withdraw
amounts deposited in error; (vii) pay Penalty Charges to the extent permitted by the related Mortgage Loan documents; or
(viii) clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01.
As part of its servicing duties, the Master Servicer shall pay or cause to be paid to the Mortgagors interest on funds in Servicing
Accounts, to the extent required by law or the terms of the related Mortgage Loan or Companion Loan; provided, however,
that in no event shall the Master Servicer be required to remit to any Mortgagor any amounts in excess of actual net investment
income or funds in the related Servicing Account. If allowed by the related Mortgage Loan documents and applicable law, the Master
Servicer may charge the related Mortgagor an administrative fee for maintenance of the Servicing Accounts.

 

(b)          
The Special Servicer, in the case of REO Loans (other than any REO Loan succeeding a Non-Serviced Mortgage Loan), and the
Master Servicer, in the case of all other Mortgage Loans (other than a Non-Serviced Mortgage Loan), each Serviced Companion
Loan, shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of real estate
taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any
ground rents payable in respect thereof. The Special Servicer, in the case of REO Loans (other than any REO Loan succeeding a
Non-Serviced Mortgage Loan), and the Master Servicer, in the case of all other Mortgage Loans (other than a Non-Serviced
Mortgage Loan) and each Serviced Companion Loan, shall use reasonable efforts consistent with the Servicing Standard to
obtain, from time to time, all bills for the payment of such items (including renewal premiums) and shall effect payment
thereof from the REO Account or by the Master Servicer as Servicing Advances prior to the applicable penalty or termination
date and, in any event, prior to the institution of foreclosure or similar proceedings with respect to the related Mortgaged
Property for nonpayment of such items, employing for such purpose Escrow Payments (which shall be so applied by the Master
Servicer at the written direction of the Special Servicer in the case of REO Loans) as allowed under the terms of the related
Mortgage Loan (other than a Non-Serviced Mortgage Loan) and Companion Loan. Other than with respect to any Non-Serviced
Mortgage Loan, the Master Servicer shall service and administer any reserve accounts (including monitoring, maintaining or
changing the amounts of required escrows) in accordance with the terms of such Mortgage Loan and the related Serviced
Companion Loan and the Servicing Standard. To the extent that a Mortgage Loan (other than a Non-Serviced Mortgage Loan) and
any related Companion Loan does not require a Mortgagor to escrow for the payment of real estate taxes, assessments,
insurance premiums, ground rents (if applicable) and similar items, the Special Servicer, in the case of REO Loans, and the
Master Servicer, in the case of all other Mortgage Loans or Companion Loan, that it is responsible for servicing hereunder,
shall use reasonable efforts consistent with

 

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the Servicing Standard to cause the Mortgagor to comply with its obligation to
make payments in respect of such items at the time they first become due and, in any event, prior to the institution of
foreclosure or similar proceedings with respect to the related Mortgaged Property for nonpayment of such items.

 

(c)           
In accordance with the Servicing Standard and for each Mortgage Loan (other than any Non-Serviced Mortgage Loans) and each
Serviced Whole Loan, as applicable, the Master Servicer shall advance all such funds as are necessary for the purpose of
effecting the payment of (i) real estate taxes, assessments and other similar items that are or may become a lien
thereon, (ii) ground rents (if applicable) and (iii) premiums on Insurance Policies, in each instance if and to the
extent Escrow Payments collected from the related Mortgagor (or related REO Revenues, if applicable) are insufficient to pay
such item when due and the related Mortgagor has failed to pay such item on a timely basis, and provided, however,
that the particular advance would not, if made, constitute a Nonrecoverable Servicing Advance and provided, further, however,
that with respect to the payment of taxes and assessments, the Master Servicer shall not be required to make such advance
until the later of five (5) Business Days after the Master Servicer, the Special Servicer, the Certificate Administrator or
the Trustee, as the case may be, has received confirmation that such item has not been paid or the date prior to the date
after which any penalty or interest would accrue in respect of such taxes or assessments. The Special Servicer shall give the
Master Servicer and the Trustee no less than five (5) Business Days’ written (facsimile or electronic) notice before
the date on which the Master Servicer is requested to make any Servicing Advance with respect to a given Specially Serviced
Mortgage Loan or REO Property; provided, however, that only two (2) Business Days’ written (facsimile or
electronic) notice shall be required in respect of Servicing Advances required to be made on an emergency or urgent basis provided, further,
that the Special Servicer shall not be entitled to make such a request (other than for Servicing Advances required to be made
on an urgent or emergency basis) more frequently than once per calendar month (although such request may relate to more than
one Servicing Advance). The Master Servicer may pay the aggregate amount of such Servicing Advances listed on a monthly
request to the Special Servicer, in which case the Special Servicer shall remit such Servicing Advances to the ultimate
payees. The Special Servicer shall have no obligation to make any Servicing Advances. In addition, in connection with any
request by the Special Servicer for the disbursement of any Servicing Advance pursuant to the above provisions, the Special
Servicer shall provide the Master Servicer and the Trustee with such information in its possession as the Master Servicer or
the Trustee, as applicable, may reasonably request to enable the Master Servicer or the Trustee, as applicable, to determine
whether a requested Servicing Advance would constitute a Nonrecoverable Advance.

 

Any
request by the Special Servicer that the Master Servicer make a Servicing Advance shall be deemed to be a determination by the
Special Servicer that such requested Servicing Advance is not a Nonrecoverable Servicing Advance, and the Master Servicer shall
be entitled to conclusively rely on such determination, provided that the determination shall not be binding on the Master
Servicer or Trustee. On the first Business Day after the Determination Date for the related Distribution Date, the Special Servicer
shall report to the Master Servicer if the Special Servicer determines any Servicing Advance previously made by the Master Servicer
with respect to a Specially Serviced Mortgage Loan or REO Loan is a Nonrecoverable Servicing Advance. The Master Servicer shall
be entitled to conclusively rely on such a determination, but such determination shall not be binding upon the Master Servicer,
and shall in no way limit the

 

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ability of the Master Servicer in the absence of such determination to make its own determination
that any Advance is a Nonrecoverable Advance. If the Special Servicer makes a determination that only a portion of, and not all
of, any previously made or proposed Servicing Advance is a Nonrecoverable Advance, the Master Servicer shall have the right to
make its own subsequent determination that any remaining portion of any such previously made or proposed Servicing Advance is
a Nonrecoverable Advance. All such Advances shall be reimbursable in the first instance from related collections from the Mortgagors
and further as provided in Section 3.05(a). No costs incurred by the Master Servicer or the Special Servicer in effecting
the payment of real estate taxes, assessments and, if applicable, ground rents on or in respect of the Mortgaged Properties shall,
for purposes hereof, including, without limitation, the Certificate Administrator’s calculation of monthly distributions
to Certificateholders, be added to the unpaid principal balances of the related Mortgage Loans or any related Serviced Companion
Loan, if applicable, notwithstanding that the terms of such Mortgage Loans or related Serviced Companion Loan, if applicable,
so permit. If the Master Servicer fails to make any required Servicing Advance as and when due (including any applicable cure
periods), to the extent the Trustee has actual knowledge of such failure, the Trustee shall make such Servicing Advance pursuant
to Section 7.05. Notwithstanding anything herein to the contrary, no Servicing Advance shall be required hereunder
if such Servicing Advance would, if made, constitute a Nonrecoverable Servicing Advance. In addition, the Master Servicer shall
consider Unliquidated Advances in respect of prior Servicing Advances for purposes of nonrecoverability determinations. The Special
Servicer shall have no obligation to make any Servicing Advances under this Agreement.

 

Notwithstanding
anything to the contrary contained in this Section 3.03(c), the Master Servicer may in its good faith judgment
elect (but shall not be required unless directed by the Special Servicer with respect to Specially Serviced Mortgage Loans
and REO Loans) to make a payment from amounts on deposit in the Certificate Account (or any Companion Distribution Account
maintained as a subaccount thereof by a Companion Paying Agent, if applicable) (which shall be deemed first made from
amounts distributable as principal and then from all other amounts comprising general collections) to pay for certain
expenses set forth below notwithstanding that the Master Servicer (or Special Servicer, as applicable) has determined that a
Servicing Advance with respect to such expenditure would be a Nonrecoverable Servicing Advance (unless, with respect to
Specially Serviced Mortgage Loans or REO Loans, the Special Servicer has notified the Master Servicer to not make such
expenditure), where making such expenditure would prevent (i) the related Mortgaged Property from being uninsured or
being sold at a tax sale or (ii) any event that would cause a loss of the priority of the lien of the related Mortgage,
or the loss of any security for the related Mortgage Loan or Serviced Companion Loan; provided that in each instance,
the Master Servicer or the Special Servicer, as applicable, determines in accordance with the Servicing Standard (as
evidenced by an Officer’s Certificate delivered to the Trustee) that making such expenditure is in the best interest of
the Certificateholders (and, if applicable, the Companion Holders), all as a collective whole (taking into account the
subordinate or pari passu nature of any Companion Loans, as the case may be). The Master Servicer or Trustee may elect
to obtain reimbursement of Nonrecoverable Servicing Advances from the Trust Fund pursuant to the terms of Section 3.19(c).
The parties acknowledge that pursuant to the applicable Non-Serviced Pooling Agreement, the applicable Non-Serviced Master
Servicer is obligated to make servicing advances with respect to the related Non-Serviced Whole Loan. The applicable
Non-Serviced

 

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Master Servicer shall be entitled to reimbursement for Nonrecoverable Servicing Advances with respect to such
Non-Serviced Whole Loan (with, in each case, any accrued and unpaid interest thereon provided for under the applicable
Non-Serviced Pooling Agreement) in the manner set forth in the applicable Non-Serviced Pooling Agreement and the applicable
Non-Serviced Intercreditor Agreement.

 

(d)          
In connection with its recovery of any Servicing Advance out of the Certificate Account (or any Companion Distribution Account
maintained as a subaccount thereof by the Companion Paying Agent, if applicable) pursuant to Section 3.05(a), the
Trustee, the Special Servicer and then the Master Servicer, as the case may be and in that order, shall be entitled to receive,
out of any amounts then on deposit in the Certificate Account interest at the Reimbursement Rate in effect from time to time,
accrued on the amount of such Servicing Advance from the date made to, but not including, the date of reimbursement. Subject to
Section 3.19(c), the Master Servicer shall reimburse itself or the Trustee, as the case may be, for any outstanding
Servicing Advance as soon as practically possible after funds available for such purpose are deposited in the Certificate Account
(or any Companion Distribution Account maintained as a subaccount thereof by the Companion Paying Agent, if applicable) subject
to the Master Servicer’s or the Trustee’s options and rights to defer recovery of such amounts as provided herein.
To the extent amounts on deposit in the Companion Distribution Account with respect to the related Companion Loan are insufficient
for any such reimbursement, the Master Servicer shall use efforts in accordance with the Servicing Standard to enforce the rights
of the holder of the related Mortgage Loan under the related Intercreditor Agreement, if any, to obtain any reimbursement available
from the holder of the related Companion Loan.

 

(e)           
To the extent an operations and maintenance plan is required to be established and executed pursuant to the terms of a
Mortgage Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall request from the Mortgagor written
confirmation thereof within a reasonable time after the later of the Closing Date and the date as of which such plan is
required to be established or completed. To the extent any repairs, capital improvements, actions or remediations are
required to have been taken or completed pursuant to the terms of the Mortgage Loan (other than a Non-Serviced Mortgage
Loan), the Master Servicer shall request from the Mortgagor written confirmation of such actions and remediations within a
reasonable time after the later of the Closing Date and the date as of which such action or remediations are required to be
or to have been taken or completed. To the extent a Mortgagor shall fail to promptly respond to any inquiry described in this Section 3.03(e),
the Master Servicer shall report any such failure to the Special Servicer within a reasonable time after the date as of which
such actions or remediations are required to be or to have been taken or completed.

 

Section 3.04     
The Certificate Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Companion
Distribution Account, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the Class EC Distribution Account.
(a)  The Master Servicer shall establish and maintain, or cause to be established and maintained, a Certificate Account
in which the Master Servicer shall deposit or cause to be deposited on a daily basis and in no event later than the second Business
Day following receipt of properly identified funds (in the case of payments by Mortgagors or other collections on the Mortgage
Loans or Companion Loans), except as otherwise specifically provided herein, the following payments and collections received or
made by or on behalf of it subsequent to the

 

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Cut-off Date (other than in respect of principal and interest on the Mortgage Loans
or Companion Loans due and payable on or before the Cut-off Date, which payments shall be delivered promptly to the appropriate
Mortgage Loan Seller or its respective designee and other than any amounts received from Mortgagors which are received in connection
with the purchase of defeasance collateral), or payments (other than Principal Prepayments) received by it on or prior to the
Cut-off Date but allocable to a period subsequent thereto:

 

(i)          
all payments on account of principal, including Principal Prepayments on the Mortgage Loans or principal prepayments on Serviced
Companion Loans;

 

(ii)         
all payments on account of interest on the Mortgage Loans or the Serviced Companion Loans, Yield Maintenance Charges and Default
Interest;

 

(iii)        
late payment charges and other Penalty Charges to the extent required to offset interest on Advances and additional Trust Fund
expenses (other than Special Servicing Fees, Workout Fees or Liquidation Fees) as required by Section 3.11(d);

 

(iv)        
all Insurance and Condemnation Proceeds and Liquidation Proceeds (other than Gain-on-Sale Proceeds or Non-Serviced Gain-on-Sale
Proceeds) received in respect of any Mortgage Loan, Serviced Companion Loan or REO Property (other than (A) Liquidation Proceeds
that are received in connection with the purchase by the Master Servicer, the Special Servicer, the Holders of the majority of
the Controlling Class, or the Holders of the Class R Certificates of all the Mortgage Loans and any REO Properties in the
Trust Fund and that are to be deposited in the Lower-Tier REMIC Distribution Account pursuant to Section 9.01 and
(B) any proceeds that are received in connection with the purchase, if any, of a Serviced Pari Passu Companion Loan from a securitization
by the related mortgage loan seller, which shall be paid directly to the servicer of such securitization) together with any recovery
of Unliquidated Advances in respect of the related Mortgage Loans;

 

(v)          
any amounts required to be transferred from the REO Account pursuant to Section 3.16(c);

 

(vi)          any amounts required to be deposited by the Master Servicer pursuant
to Section 3.06 in connection with losses incurred with respect to Permitted Investments of funds held in the Certificate
Account; and

 

                              
(vii)          any amounts required to be deposited by the Master Servicer or the
Special Servicer pursuant to Section 3.07(b) in connection with losses resulting from a deductible clause in a blanket
hazard or master single interest policy.

 

Notwithstanding
the foregoing requirements, the Master Servicer need not deposit into the Certificate Account any amount that the Master Servicer
would be authorized to withdraw immediately from such account in accordance with the terms of Section 3.05 and shall
be entitled to instead immediately pay such amount directly to the Person(s) entitled thereto; provided that such amounts
shall be applied in accordance with the terms hereof and shall be reported as if deposited in such Certificate Account and then
withdrawn.

 

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The
foregoing requirements for deposit in the Certificate Account shall be exclusive, it being understood and agreed that, without
limiting the generality of the foregoing, actual payments from Mortgagors in the nature of Escrow Payments, charges for beneficiary
statements or demands, assumption fees, modification fees, extension fees, defeasance fees, amounts collected for Mortgagor checks
returned for insufficient funds or other amounts the Master Servicer or the Special Servicer would be entitled to retain as additional
servicing compensation need not be deposited by the Master Servicer in the Certificate Account. If the Master Servicer shall deposit
in the Certificate Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Certificate
Account, any provision herein to the contrary notwithstanding. Assumption, extension and modification fees actually received from
Mortgagors on Specially Serviced Mortgage Loans shall be promptly delivered to the Special Servicer as additional servicing compensation.

 

Upon
receipt of any of the foregoing amounts in clauses (i) through (iv) above with respect to any Specially Serviced
Mortgage Loans, the Special Servicer shall remit within one (1) Business Day such amounts to the Master Servicer for deposit into
the Certificate Account, in accordance with this Section 3.04(a). Any such amounts received by the Special Servicer
with respect to an REO Property shall be deposited by the Special Servicer into the REO Account and remitted to the Master Servicer
for deposit into the Certificate Account, pursuant to Section 3.16(c). With respect to any such amounts paid by check
to the order of the Special Servicer, the Special Servicer shall endorse without recourse or warranty such check to the order
of the Master Servicer and shall promptly deliver any such check to the Master Servicer by overnight courier. Funds in the Certificate
Account may only be invested in Permitted Investments in accordance with the provisions of Section 3.06. As of the
Closing Date, the Certificate Account for the Master Servicer shall be located at the offices of Wells Fargo Bank, National Association.
The Master Servicer shall give notice to the Trustee, the Special Servicer, the Certificate Administrator and the Depositor of
the new location of the Certificate Account prior to any change thereof.

 

(b)            
The Certificate Administrator, on behalf of the Trustee, shall establish and maintain (i) the Lower-Tier REMIC Distribution
Account, the Interest Reserve Account and the Gain-on-Sale Reserve Account in trust for the benefit of the
Certificateholders, (ii) the Upper-Tier REMIC Distribution Account for the benefit of the Certificateholders and the
Trustee as holder of the Uncertificated Lower-Tier Interests and (iii) the Class EC Distribution Account for the
benefit of the Class EC Certificateholders. The Master Servicer shall deliver to the Certificate Administrator each
month on or before the P&I Advance Date therein, for deposit in the Lower-Tier REMIC Distribution Account, that portion
of the Available Distribution Amount attributable to the Mortgage Loans (in each case, calculated without regard to clauses (a)(iii)(B), (a)(iv),
and (c) of the definition of Available Distribution Amount) for the related Distribution Date.

 

With
respect to each Companion Loan (excluding any Non-Serviced Companion Loan), the Companion Paying Agent shall establish and maintain
the Companion Distribution Account, which may be a subaccount of the Certificate Account, for distributions to each Companion
Holder, to be held for the benefit of the related Companion Holder and shall, within two (2) Business Days following receipt of
properly identified funds (to the extent consistent with the related Intercreditor Agreement), deposit in the Companion Distribution
Account any

 

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and all amounts received by the Companion Paying Agent that are required by the terms of this Agreement or the applicable
Intercreditor Agreement to be deposited therein; provided, however, that the Companion Paying Agent shall separately
track for each Serviced Companion Loan all amounts deposited with respect to such Serviced Companion Loan. The Master Servicer
shall deliver to the Companion Paying Agent each month, on or before the P&I Advance Date therein, for deposit in the Companion
Distribution Account, an aggregate amount of immediately available funds, to the extent received with respect to the related Serviced
Whole Loan, to the extent of available funds, equal to the amount to be distributed to the related Companion Holder pursuant to
the terms of this Agreement and the related Intercreditor Agreement. Notwithstanding the preceding, the following provisions shall
apply to remittances relating to each Serviced Companion Loan that has been deposited into an Other Securitization: (1) on each
Serviced Whole Loan Remittance Date, the Master Servicer shall withdraw from the Certificate Account (or applicable portion thereof)
an aggregate amount equal to all payments and/or collections actually received on, and payable to, such Serviced Companion Loan
prior to such dates; provided, however, that in no event shall the Master Servicer be required to transfer to the
Companion Distribution Account any portion thereof that is payable or reimbursable to or at the direction of any party to this
Agreement under the other provisions of this Agreement and/or the related Intercreditor Agreement; and (2) on each Serviced Whole
Loan Remittance Date, the Companion Paying Agent shall make the payments and remittance described in Section 4.01(k) of
this Agreement, which payments and remittance shall be made, in each case, on the Serviced Whole Loan Remittance Date.

 

The
Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Gain-on-Sale Reserve Account, the Interest
Reserve Account, the Companion Distribution Account and the Class EC Distribution Account may be subaccounts of a single
Eligible Account, which shall be maintained as a segregated account separate from other accounts.

 

In
addition to the amounts required to be deposited in the Lower-Tier REMIC Distribution Account pursuant to this Section 3.04,
the Master Servicer shall, as and when required hereunder, deliver to the Certificate Administrator for deposit in the Lower-Tier
REMIC Distribution Account:

 

(i)          
any amounts required to be deposited by the Master Servicer pursuant to Section 3.19(a) as Compensating Interest Payments
(other than the portion of any Compensating Interest Payment allocated to a Serviced Pari Passu Companion Loan) in connection
with Prepayment Interest Shortfalls;

 

(ii)         
any P&I Advances required to be made by the Master Servicer in accordance with Section 4.03;

 

(iii)        
any Liquidation Proceeds paid by the Master Servicer, the Special Servicer, the Holders of the Controlling Class or the Holders
of the Class R Certificates in connection with the purchase of all of the Mortgage Loans and any REO Properties in the Trust
Fund pursuant to Section 9.01 (exclusive of that portion thereof required to be deposited in the Certificate Account
pursuant to Section 9.01);

 

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(iv)        
any Yield Maintenance Charges with respect to the Mortgage Loans actually collected; and

 

(v)         
any other amounts required to be so delivered for deposit in the Lower-Tier REMIC Distribution Account pursuant to any provision
of this Agreement.

 

If,
as of the close of business (New York City time) on any P&I Advance Date or on such other date as any amount referred to in
the foregoing clauses (i) through (v), the Master Servicer shall not have delivered to the Certificate Administrator
for deposit in the Lower-Tier REMIC Distribution Account the amounts required to be deposited therein pursuant to the provisions
of this Agreement (including any P&I Advance with respect to the Mortgage Loans pursuant to Section 4.03(a) hereof),
the Master Servicer shall pay the Certificate Administrator interest on such late payment at the Prime Rate from and including
the date such payment was required to be made (without regard to any grace period set forth in Section 7.01(a)(i))
until (but not including) the date such late payment is received by the Certificate Administrator.

 

The
Certificate Administrator shall, upon receipt, deposit in the Lower-Tier REMIC Distribution Account any and all amounts received
by the Certificate Administrator that are required by the terms of this Agreement to be deposited therein.

 

Promptly
on each Distribution Date, the Certificate Administrator shall be deemed to withdraw from the Lower-Tier REMIC Distribution Account
and deposit in the Upper-Tier REMIC Distribution Account an aggregate amount of immediately available funds equal to the Lower-Tier
Distribution Amount and the amount of any Yield Maintenance Charges for such Distribution Date allocated in payment of the Uncertificated
Lower-Tier Interests as specified in Section 4.01(b) and Section 4.01(d), respectively.

 

Funds
on deposit in the Gain-on-Sale Reserve Account, the Interest Reserve Account, the Companion Distribution Account, the Class EC
Distribution Account, the Upper-Tier REMIC Distribution Account or the Lower-Tier REMIC Distribution Account shall not be invested
for so long as Wells Fargo Bank, National Association is the Certificate Administrator.

 

As
of the Closing Date, the Interest Reserve Account, the Class EC Distribution Account, the Upper-Tier REMIC Distribution Account
and the Lower-Tier REMIC Distribution Account shall be located at the offices of the Certificate Administrator. The Certificate
Administrator shall give notice to the Trustee, the Master Servicer and the Depositor of the proposed location of the Interest
Reserve Account, the Class EC Distribution Account, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution
Account and, if established, the Gain-on-Sale Reserve Account prior to any change thereof.

 

For
the avoidance of doubt, the Certificate Account (other than the Companion Distribution Account, if it is a sub-account of the
Certificate Account, the Lower-Tier REMIC Distribution Account, the Gain-on-Sale Reserve Account, any Servicing Account, the REO
Account, and the Interest Reserve Account (including interest, if any, earned on the investment of funds in such accounts) will
be owned by the Lower-Tier REMIC; the Class EC Distribution Account (including interest, if any, earned on the investment
of funds in such account) will be

 

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owned by the Grantor Trust for the benefit of the Class EC Certificateholders; the Companion
Distribution Account (including interest, if any, earned on the investment of funds in such account) will be owned by the Companion
Holders, as applicable; and the Upper-Tier REMIC Distribution Account (including interest, if any, earned on the investment of
funds in such account) will be owned by the Upper-Tier REMIC, each for federal income tax purposes.

 

(c)           
[Reserved].

 

(d)          
[Reserved].

 

(e)           
The Certificate Administrator shall establish (upon notice from the Special Servicer of an event occurring that generates Gain-on-Sale
Proceeds) and maintain the Gain-on-Sale Reserve Account for the benefit of the Certificateholders. The Gain-on-Sale Reserve Account
shall be maintained as an Eligible Account (or as a subaccount of an Eligible Account), separate and apart from trust funds for
mortgage pass-through certificates of other series administered by the Certificate Administrator.

 

Upon
the disposition of any REO Property, in accordance with Section 3.09 or Section 3.18, the Special Servicer
will calculate the Gain-on-Sale Proceeds, if any, realized that are allocable to the Mortgage Loan, in connection with such sale
and remit such funds to the Certificate Administrator for deposit into the Gain-on-Sale Reserve Account. Any Gain-on-Sale Proceeds
on such disposition that is allocable to any related Companion Loan in accordance with the terms of the related Intercreditor
Agreement shall be remitted to the Companion Paying Agent for deposit into the Companion Distribution Account.

 

(f)           
Any Non-Serviced Gain-on-Sale Proceeds received with respect to any Non-Serviced Mortgage Loan pursuant to the related Non-Serviced
Pooling Agreement shall be remitted to the Certificate Administrator for deposit into the Gain-on-Sale Reserve Account.

 

(g)          
The Certificate Administrator shall establish and maintain the Class EC Distribution Account, in its own name on behalf
of the Trustee, in trust for the benefit of the Holders of the Class EC Certificates, which shall be an asset of the
Trust Fund and the Grantor Trust, but shall not be an asset of any Trust REMIC. The Class EC Distribution Account shall
be established and maintained as an Eligible Account or a subaccount of an Eligible Account. The Certificate Administrator
shall make or be deemed to have made deposits in and withdrawals from the Class EC Distribution Account in accordance
with Article IV of this Agreement.

 

Section 3.05     
Permitted Withdrawals from the Certificate Account, the Distribution Accounts and the Companion Distribution Account. (a)  The
Master Servicer may, from time to time, make withdrawals from the Certificate Account (or the applicable subaccount thereof) for
any of the following purposes (the following not being an order of priority and without duplication of the same payment or reimbursement):

 

(i)          
(A) no later than 4:00 p.m., New York City time, on each P&I Advance Date, to remit to the Certificate Administrator for deposit
in the Lower-Tier REMIC Distribution Account the amounts required to be remitted pursuant to the first paragraph of Section 3.04(b)
or that may be applied to make P&I Advances pursuant to Section 4.03(a); and (B) pursuant to the second
paragraph of Section 3.04(b), to remit to

 

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the Companion Paying Agent for deposit in the Companion Distribution Account
the amounts required to be so deposited with respect to the Companion Loans;

 

(ii)         
(A)  to pay itself (or, with respect to any Transferable Servicing Interest, to pay Wells Fargo Bank, National
Association if Wells Fargo Bank, National Association is no longer the Master Servicer, any such interest pursuant to Section 3.11(a))
unpaid Servicing Fees in respect of each Mortgage Loan, Serviced Companion Loan, Specially Serviced Mortgage Loan, and REO
Loan, as applicable, the Master Servicer’s rights to payment of Servicing Fees pursuant to this clause (ii)(A)
with respect to any Mortgage Loan, related Serviced Companion Loan, Specially Serviced Mortgage Loan or REO Loan, as
applicable, being limited to amounts received on or in respect of such Mortgage Loan or related Serviced Companion Loan
(whether in the form of payments, Liquidation Proceeds or Insurance and Condemnation Proceeds) or such REO Loan (whether in
the form of REO Revenues, Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable as recovery of
interest thereon, (B) to pay the Special Servicer any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees
in respect of each Specially Serviced Mortgage Loan or REO Loan or Corrected Mortgage Loan, as applicable, and any expense
incurred by the Special Servicer in connection with performing any inspections pursuant to Section 3.12(a),
remaining unpaid first, out of related REO Revenues, Liquidation Proceeds, Insurance and Condemnation Proceeds and
collections in respect of the related Specially Serviced Mortgage Loan (provided that, in the case of such payment
relating to a Serviced Whole Loan, such payment shall be made, subject to the terms of the related Intercreditor Agreement
(i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced
Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal
balances, or (ii) with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan and then,
from the related Serviced AB Mortgage Loan) and then out of general collections on the Mortgage Loans and REO
Properties, and (C) to pay the Senior Trust Advisor any unpaid Senior Trust Advisor Fees or Senior Trust Advisor
Consulting Fees in respect of each Mortgage Loan, Specially Serviced Mortgage Loan (other than any related Companion Loan) or
REO Loan (other than any related Companion Loan), as applicable, the Senior Trust Advisor’s right to payment of the
Senior Trust Advisor Fee or Senior Trust Advisor Consulting Fee pursuant to this clause (ii)(C) with respect to
any Mortgage Loan, Specially Serviced Mortgage Loan (other than any related Companion Loan) or REO Loan (other than any
related Companion Loan), as applicable, being limited to amounts received on or in respect of such Mortgage Loan (whether in
the form of payments, P&I Advances (solely with respect to the Senior Trust Advisor Fee), Liquidation Proceeds or
Insurance and Condemnation Proceeds) or such REO Loan (whether in the form of REO Revenues, Liquidation Proceeds or Insurance
and Condemnation Proceeds), that are allocable as recovery of interest thereon;

 

(iii)        
to reimburse the Trustee and itself, as applicable (in that order), for unreimbursed P&I Advances, the Master Servicer’s
or the Trustee’s right to reimbursement pursuant to this clause (iii) being limited to amounts received which
represent Late Collections of interest (net of the related Servicing Fee) on and principal of the particular Mortgage Loan and
REO Loans with respect to which such P&I

 

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Advances were made; provided that with respect to each Serviced Whole Loan,
reimbursement of P&I Advances shall be made only from amounts collected with respect to the related Serviced Mortgage Loan
and not from any amounts collected with respect to any related Serviced Companion Loan (provided that, with respect to
any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related Intercreditor Agreement
pursuant to which any amounts collected with respect to the related Serviced Whole Loan are allocated to the related Serviced
Mortgage Loan and AB Subordinate Companion Loan) prior to reimbursement from other funds unrelated to such Serviced Whole Loan
on deposit in the Certificate Account; provided, further, that if such P&I Advance with respect to a Mortgage
Loan becomes a Workout-Delayed Reimbursement Amount, then the maker of such P&I Advance shall additionally, but without duplication,
thereafter be entitled to reimbursement for such P&I Advance from the portion of general collections and recoveries on or
in respect of the Mortgage Loans and REO Properties on deposit in the Certificate Account from time to time that represent collections
or recoveries of principal to the extent provided in clause (v) below; and provided, further, that if
such Advance becomes a Nonrecoverable Advance, then such Advance shall be reimbursable pursuant to clause (v) below;

 

(iv)        
to reimburse the Trustee and itself, as applicable (in that order), for unreimbursed Servicing Advances, the Master
Servicer’s or the Trustee’s respective rights to receive payment pursuant to this clause (iv) with
respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or any related Companion Loan or any REO Property
being limited to, as applicable, related payments, Liquidation Proceeds, Insurance and Condemnation Proceeds and REO Revenues
(provided that, in the case of such reimbursement relating to a Serviced Whole Loan, such reimbursements shall be
made, subject to the terms of the related Intercreditor Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro
rata and pari passu, from the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in
accordance with their respective outstanding principal balances, or (ii) with respect to a Serviced AB Whole Loan, first,
from the related AB Subordinate Companion Loan and then, from the related Serviced AB Mortgage Loan (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the
related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Serviced Whole Loan are
allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), prior to reimbursement from other funds
unrelated to such Serviced Whole Loan on deposit in the Certificate Account related to any Mortgage Loan); provided, however,
that if such Servicing Advance becomes a Workout-Delayed Reimbursement Amount, then the maker of such Servicing Advance shall
additionally, but without duplication, thereafter be entitled to reimbursement for such Servicing Advance from the portion of
general collections and recoveries on or in respect of the Mortgage Loans and REO Properties on deposit in the Certificate
Account from time to time that represent collections or recoveries of principal to the extent provided in clause (v)
below; provided, further, that if such Advance becomes a Nonrecoverable Advance, then such Advance shall be
reimbursable pursuant to clause (v) below;

 

(v)         
to reimburse the Trustee and itself, as applicable (in that order) (1) for Nonrecoverable Advances first, out of REO
Revenues, Liquidation Proceeds and

 

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Insurance
and Condemnation Proceeds, if any, received on the related Mortgage Loan and any related Companion Loan (with respect to
such Companion Loan, only for Nonrecoverable Servicing Advances made with respect thereto), then, out of the principal
portion of general collections on the Mortgage Loans and (other than to the extent that they relate to the Companion Loans)
REO Properties, then, to the extent the principal portion of general collections is insufficient and with respect to
such excess only, subject to any exercise of the sole option to defer reimbursement thereof pursuant to Section 3.19(c),
out of general collections on the Mortgage Loans and (other than to the extent that they relate to the Companion Loans) REO
Properties, (2) for Workout-Delayed Reimbursement Amounts, out of the principal portion of the general collections on
the Mortgage Loans and (other than to the extent that they relate to the Companion Loans) REO Properties net of such amounts
being reimbursed pursuant to (1) above; (provided that, in case of such reimbursement of a Nonrecoverable Servicing
Advance relating to a Serviced Whole Loan related thereto, such reimbursement shall be made, subject to the terms of the
related Intercreditor Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari
passu, from the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their
respective outstanding principal balances, or (ii) with respect to a Serviced AB Whole Loan, first, from the
related AB Subordinate Companion Loan and then, from the related Serviced AB Mortgage Loan; provided, further,
that, in case of such reimbursement with respect to Nonrecoverable Servicing Advances relating to a Serviced Whole Loan, such
reimbursement shall be made as described above in this clause (v)(1) and (v)(2), prior to reimbursement from
other funds unrelated to such Serviced Whole Loan on deposit in the Certificate Account; provided, further,
that with respect to a Serviced Mortgage Loan, reimbursement of Nonrecoverable P&I Advances from funds collected from the
related Serviced Whole Loan shall be made only from amounts collected with respect to such Serviced Mortgage Loan (and not
from any amounts collected with respect to the related Serviced Companion Loan), in accordance with the terms of the related
Intercreditor Agreement (provided that, with respect to any AB Subordinate Companion Loan, the foregoing with respect
to Nonrecoverable Servicing Advances and Nonrecoverable P&I Advances shall not limit or otherwise modify the terms of the
related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Serviced Whole Loan, are
allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), prior to reimbursement from other funds
unrelated to such Serviced Whole Loan on deposit in the Certificate Account related to any Mortgage Loan) or (3) to
pay itself, with respect to any Mortgage Loan, any related Serviced Companion Loan, if applicable, or REO Property any
related earned Servicing Fee that remained unpaid in accordance with clause (ii) above following a Final Recovery
Determination made with respect to such Mortgage Loan or REO Property and the deposit into the Certificate Account of all
amounts received in connection therewith;

 

(vi)         at
such time as it reimburses the Trustee and itself, as applicable (in that order) or any Other Trustee or Other Servicer for a
related securitization trust in respect of any Serviced Pari Passu Companion Loan for (a) any unreimbursed P&I Advance (including
any such P&I Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iii) or clause
(v) above, to pay itself and/or the Trustee or such other servicing party, as applicable, any interest accrued and payable
thereon in

 

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accordance with Sections 3.03(d), 3.11(d) and 4.03(d), (b) any unreimbursed Servicing Advances
(including any such Servicing Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iv)
or clause (v) above, to pay itself, the Special Servicer or the Trustee, or Other Trustee or Other Servicer as the case
may be, any interest accrued and payable thereon in accordance with Sections 3.03(d) and 3.11(d) or (c) any Nonrecoverable
Advances pursuant to clause (v) above, to pay itself, the Special Servicer or the Trustee, or Other Trustee or Other Servicer
as the case may be, any interest accrued and payable thereon; provided that in all events, subject to the related Intercreditor
Agreement, interest on P&I Advances on any Serviced Mortgage Loan shall not be paid from funds actually distributable to any
related Serviced Companion Loan, and interest on Servicing Advances on any Serviced Whole Loan shall be paid (i) with respect
to a Serviced Pari Passu Whole Loan, pro rata and pari passu, out of collections on the related Serviced Pari Passu
Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances, or (ii)
with respect to a Serviced AB Whole Loan, first, out of collections on the related AB Subordinate Companion Loan and then,
out of collections on the related Serviced AB Mortgage Loan (provided that, with respect to any AB Subordinate Companion
Loan, the foregoing shall not limit or otherwise modify the terms of the related Intercreditor Agreement pursuant to which any
amounts collected with respect to the related Serviced Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate
Companion Loan);

 

(vii)        to
reimburse itself, the Special Servicer or the Trustee, as the case may be, for any unreimbursed expenses reasonably incurred by
such Person in respect of any Breach or Defect giving rise to a repurchase or substitution obligation of the applicable Mortgage
Loan Seller under Section 6 of the applicable Mortgage Loan Purchase Agreement, including, without limitation, any expenses arising
out of the enforcement of the repurchase or substitution obligation, each such Person’s right to reimbursement pursuant
to this clause (vii) with respect to any Mortgage Loan, being limited to that portion of the Purchase Price or Substitution
Shortfall Amount paid with respect to such Mortgage Loan, that represents such expense in accordance with clause (iv) of
the definition of Purchase Price;

 

(viii)       in
accordance with Section 2.03(f), to reimburse itself or the Special Servicer, as the case may be, first, out of
Liquidation Proceeds, Insurance and Condemnation Proceeds, if any, with respect to the related Mortgage Loan or REO Loan, and
then out of general collections on the Mortgage Loans and REO Properties, for any unreimbursed expense reasonably incurred
by such Person in connection with the enforcement of the applicable Mortgage Loan Seller’s obligations under Section 6 of
the applicable Mortgage Loan Purchase Agreement, but only to the extent that such expenses are not reimbursable pursuant to clause
(vii) above or otherwise; provided that, in case of such reimbursement out of Liquidation Proceeds, and Insurance and
Condemnation Proceeds described above relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms
of the related Intercreditor Agreement (i) with respect to a Serviced Pari Passu Whole Loan, solely from the related Serviced
Pari Passu Mortgage Loan, or (ii) with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion
Loan and then, from the related Serviced AB Mortgage Loan

 

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(provided that, with respect to any AB Subordinate Companion
Loan, the foregoing shall not limit or otherwise modify the terms of the related Intercreditor Agreement pursuant to which any
amounts collected with respect to the related Serviced Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate
Companion Loan), in each case, prior to being payable out of general collections with respect to the Mortgage Loans;

 

(ix)         to
pay for costs and expenses incurred by the Trust Fund pursuant to Section 3.09(c) first, out of REO Revenues, Liquidation
Proceeds, Insurance and Condemnation Proceeds with respect to the related Mortgage Loan, Serviced Companion Loan or REO Loan and
then out of general collections on the Mortgage Loans and REO Properties; provided that, in case of such reimbursement
relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms of the related Intercreditor Agreement
(i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced Pari Passu
Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances, or (ii)
with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan and then, from the
related Serviced AB Mortgage Loan (provided that, with respect to any AB Subordinate Companion Loan, the foregoing shall
not limit or otherwise modify the terms of the related Intercreditor Agreement pursuant to which any amounts collected with respect
to the related Serviced Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), in
each case, prior to being payable out of general collections with respect to the related Mortgage Loans;

 

(x)          to
pay itself, as additional servicing compensation in accordance with Section 3.11(a), (a) (1) interest and investment
income earned in respect of amounts relating to the Trust Fund held in the Certificate Account and the Companion Distribution
Account as provided in Section 3.06(b) (but only to the extent of the Net Investment Earnings with respect to the
Certificate Account and the Companion Distribution Account for the period from and including the prior Distribution Date to
and including the P&I Advance Date related to such Distribution Date) and (2) Penalty Charges (other than Penalty Charges
collected while the related Mortgage Loan and any related Serviced Companion Loan is a Specially Serviced Mortgage Loan), but
only to the extent collected from the related Mortgagor and to the extent that all amounts then due and payable with respect
to the related Mortgage Loan and any related Serviced Companion Loan have been paid and such Penalty Charges are not needed
to pay interest on Advances or costs and expenses incurred by the Trust Fund (other than Special Servicing Fees, Liquidation
Fees and Workout Fees) in accordance with Section 3.11(d); and (b) to pay the Special Servicer, as additional
servicing compensation in accordance with Section 3.11(c), Penalty Charges collected on Specially Serviced Mortgage
Loans (but only to the extent collected from the related Mortgagor and to the extent that all amounts then due and payable
with respect to the related Specially Serviced Mortgage Loan have been paid and such Penalty Charges are not needed to pay
interest on Advances or costs and expenses incurred by the Trust Fund (other than Special Servicing Fees, Liquidation Fees
and Workout Fees) in accordance with Section 3.11(d));

 

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(xi)         to
recoup any amounts deposited in the Certificate Account in error;

 

(xii)        to
pay itself, the Special Servicer, the Depositor, the Senior Trust Advisor or any of their respective directors, officers, members,
managers, employees and agents, or CREFC®, as the case may be, out of general collections, any amounts payable
to any such Person pursuant to Section 3.11(g), Section 6.03(a) or Section 6.03(b); provided that,
in case of such reimbursement (other than a reimbursement of any amounts payable to CREFC®) relating to a Serviced
Whole Loan, such reimbursement shall be made, subject to the terms of the related Intercreditor Agreement (i) with respect to
a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced Pari Passu Mortgage Loan and
Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances, or (ii) with respect to
a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan and then, from the related Serviced
AB Mortgage Loan (provided that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise
modify the terms of the related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Serviced
Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), in each case, prior to being
payable out of general collections with respect to the Mortgage Loans;

 

(xiii)       to
pay for (a) the cost of the Opinions of Counsel contemplated by Section 3.09(b), 3.16(a), 3.17(b), 3.20(a), 3.20(b), 3.20(d), 3.20(j)
and 10.01(f) to the extent payable out of the Trust Fund, (b) the cost of any Opinion of Counsel contemplated by Sections
12.01(a) or Section 12.01(c) in connection with an amendment to this Agreement requested by the Trustee or the
Master Servicer, which amendment is in furtherance of the rights and interests of Certificateholders and (c) the cost of
obtaining the REO Extension contemplated by Section 3.16(a); provided that, in case of such reimbursement
relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms of the related Intercreditor
Agreement (i) with respect to the related Serviced Pari Passu Whole Loan, pro rata and pari passu, from the
related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective
outstanding principal balances, or (ii) with respect to a Serviced AB Whole Loan, first, from the related
AB Subordinate Companion Loan and then, from the related Serviced AB Mortgage Loan (provided that, with respect
to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Intercreditor Agreement pursuant to which any amounts collected with respect to the related Serviced Whole Loan are allocated
to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), in each case, prior to being payable out of general
collections with respect to the Mortgage Loans;

 

(xiv)        to
pay out of general collections on the Mortgage Loans and the REO Properties any and all federal, state and local taxes imposed
on any Trust REMIC, or any of their assets or transactions, together with all incidental costs and expenses, to the extent that
none of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee is liable therefor pursuant to
Section 10.01(g);

 

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(xv)         to
reimburse the Certificate Administrator out of general collections on the Mortgage Loans and REO Properties for expenses incurred
by and reimbursable to it by the Trust Fund pursuant to Section 10.01(c);

 

(xvi)        to
pay the applicable Mortgage Loan Seller or any other Person, with respect to each Mortgage Loan, if any, previously purchased
by such Person pursuant to this Agreement, all amounts received thereon subsequent to the date of purchase relating to periods
after the date of purchase; or, in the case of the substitution for a Mortgage Loan by a Mortgage Loan Seller as contemplated
by Section 2.03(b), to pay such Mortgage Loan Seller with respect to the replaced Mortgage Loan all amounts received thereon
subsequent to the date of substitution, and with respect to the related Qualified Substitute Mortgage Loan(s), all Monthly Payments
due thereon during or prior to the month of substitution, in accordance with Section 2.03(b);

 

(xvii)       to
remit to the Certificate Administrator for deposit in the Interest Reserve Account the amounts required to be deposited in the
Interest Reserve Account pursuant to Section 3.25;

 

(xviii)      to
reimburse the Senior Trust Advisor for any Senior Trust Advisor Expenses incurred by and reimbursable to it by the Trust Fund
pursuant to Section 3.31(h);

 

(xix)        to
remit to the Companion Paying Agent for deposit into the Companion Distribution Account the amounts required to be deposited pursuant
to Section 3.04(b) without duplication of amounts remitted to the Companion Paying Agent pursuant to clause (i) above;

 

(xx)         to
clear and terminate the Certificate Account at the termination of this Agreement pursuant to Section 9.01; and

 

(xxi)        to
pay for any expenditures to be borne by the Trust Fund pursuant to the third paragraph of Section 3.03(c).

 

The
Master Servicer shall also be entitled to make withdrawals from time to time, from the Certificate Account of amounts
necessary for the payments or reimbursement of amounts required to be paid to the applicable Non-Serviced Master Servicer,
the applicable Non-Serviced Special Servicer, the applicable Non-Serviced Trustee or the applicable Non-Serviced Certificate
Administrator by the holder of a Non-Serviced Mortgage Loan pursuant to the applicable Non-Serviced Intercreditor Agreement
and the applicable Non-Serviced Pooling Agreement.

 

The
Master Servicer shall keep and maintain separate accounting records, on a loan-by-loan and property by property basis when appropriate,
for the purpose of justifying any withdrawal from the Certificate Account.

 

The
Master Servicer shall pay to the Special Servicer, the Trustee or the Certificate Administrator from the Certificate Account amounts
permitted to be paid to it therefrom monthly upon receipt of a certificate of a Servicing Officer of the Special Servicer or a

 

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Responsible Officer of the Trustee or the Certificate Administrator describing the item and amount to which the Special Servicer,
the Trustee or the Certificate Administrator is entitled. The Master Servicer may rely conclusively on any such certificate and
shall have no duty to re-calculate the amounts stated therein. The Special Servicer shall keep and maintain separate accounting
for each Specially Serviced Mortgage Loan and REO Loan, on a loan-by-loan and property-by-property basis, for the purpose of justifying
any request for withdrawal from the Certificate Account.

 

Notwithstanding
anything to the contrary in this Section 3.05 or elsewhere in this Agreement, no amounts payable or reimbursable to the
Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator or the Senior Trust Advisor, or for any other
purpose, out of general collections that do not specifically relate to a Serviced Whole Loan may be reimbursable from amounts
that would otherwise be payable to the related Companion Loan.

 

(b)          The
Certificate Administrator may, from time to time, make withdrawals from the Lower-Tier REMIC Distribution Account for any of the
following purposes (the following not being an order of priority):

 

(i)            to
be deemed to make deposits of the Lower-Tier Distribution Amount pursuant to Section 4.01(b) and the amount of any Yield
Maintenance Charges distributable pursuant to Section 4.01(d) in the Upper-Tier REMIC Distribution Account and to make
distributions on the Class R Certificates in respect of the Class LR Interest pursuant to Section 4.01(b);

 

(ii)           to
pay to the Trustee and the Certificate Administrator or any of their directors, officers, employees and agents, as the case may
be, any amounts payable or reimbursable to any such Person with respect to the Mortgage Loans pursuant to Section 8.05(b);

 

(iii)          to
pay the Certificate Administrator and the Trustee, the Certificate Administrator Fee and the Trustee Fee, as applicable, as contemplated
by Section 8.05(a) hereof with respect to the Mortgage Loans;

 

(iv)          to
pay for the cost (without duplication) of the Opinions of Counsel sought by (A) the Trustee or the Certificate Administrator
as provided in clause (vi) of the definition of “Disqualified Organization,” (B) the Trustee, the
Certificate Administrator, the Master Servicer or the Special Servicer as contemplated by Section 3.20(d), (C) the
Trustee or the Certificate Administrator as contemplated by Section 5.08(c) or Section 8.02(ii) to the extent
payable out of the Trust Fund, (D) the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer as
contemplated by Section 10.01(f) or Section 10.01(l) to the extent payable out of the Trust Fund, or (E) the
Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer as contemplated by Section
12.01(a) or Section 12.01(c) in connection with any amendment to this Agreement requested by the Trustee or the
Certificate Administrator, which amendment is in furtherance of the rights and interests of Certificateholders, in each case,
to the extent not paid pursuant to Section 12.01(g);

 

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(v)           to
pay any and all federal, state and local taxes imposed on the Lower-Tier REMIC or the Upper-Tier REMIC or on the assets or transactions
of any such REMIC, together with all incidental costs and expenses, to the extent none of the Trustee, the Certificate Administrator,
the REMIC Administrator, the Master Servicer or the Special Servicer is liable therefor pursuant to Section 10.01(g);

 

(vi)          to
pay the REMIC Administrator any amounts reimbursable to it pursuant to Section 10.01(c) with respect to the Lower-Tier
REMIC or the Upper-Tier REMIC;

 

(vii)         to
pay to the Master Servicer any amounts deposited by the Master Servicer in the Distribution Accounts not required to be deposited
therein; and

 

(viii)        to
clear and terminate the Lower-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

(c)           [Reserved].

 

(d)          The
Certificate Administrator shall make, or be deemed to make, withdrawals from the Upper-Tier REMIC Distribution Account for any
of the following purposes:

 

(i)            to
make distributions to Certificateholders holding Regular Certificates (and on the Class UR Interest in the case of the Class R
Certificates) and to the Class EC Distribution Account in respect of any Exchangeable Certificates that have been exchanged for
and converted to Class EC Certificates (for distribution to the Class EC Certificates pursuant to Section 4.01(l)) on each
Distribution Date pursuant to Section 4.01 or Section 9.01, as applicable, subject to the next-to-last paragraph
of Section 3.04(b); and

 

(ii)           to
clear and terminate the Upper-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

(e)          The
Certificate Administrator shall make, or be deemed to make, withdrawals from the Class EC Distribution Account for any of the
following purposes:

 

(i)            to
make distributions to Certificateholders holding Class EC Certificates pursuant to Section 4.01(l) or Section 9.01,
as applicable, subject to the next-to-last paragraph of Section 3.04(b); and

 

(ii)           to
clear and terminate the Class EC Distribution Account at the termination of this Agreement pursuant to Section 9.01.

  

(f)           Notwithstanding
anything herein to the contrary, with respect to any Mortgage Loan, (i) if amounts on deposit in the Certificate Account and the
Lower-Tier REMIC Distribution Account are not sufficient to pay the full amount of the Servicing Fee listed in Section 3.05(a)(ii),
the Senior Trust Advisor Fee listed in Section 3.05(a)(ii) and the Certificate Administrator Fee listed in Section 3.05(b)(ii)
and (b)(iii), then the Certificate Administrator Fee shall be paid in full prior to the payment of any Servicing Fees
payable under Section 3.05(a)(ii)

 

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and then, after payment of Servicing Fees, the Senior Trust Advisor Fees payable under
Section 3.05(a)(ii) and in the event that amounts on deposit in the Certificate Account and the Lower-Tier REMIC Distribution
Account are not sufficient to pay the full amount of such Certificate Administrator Fee, the Certificate Administrator shall be
paid based on the amount of such fees and (ii) if amounts on deposit in the Certificate Account are not sufficient to reimburse
the full amount of Advances and interest thereon listed in Sections 3.05(a)(iii), (a)(iv), (a)(v) and (a)(vi),
then reimbursements shall be paid first to the Certificate Administrator and to the Trustee, pro rata, second
to the Special Servicer, third to the Master Servicer and then to the Senior Trust Advisor.

 

(g)          The
Companion Paying Agent may, from time to time, make withdrawals from the Companion Distribution Account to make distributions
pursuant to Section 4.01(k).

 

Section
3.06     Investment of Funds in the Certificate Account and the REO Account. (a) The
Master Servicer may direct any depository institution maintaining the Certificate Account, the Companion Distribution Account
or any Servicing Account (for purposes of this Section 3.06, an “Investment Account”), the Special
Servicer may direct any depository institution maintaining the REO Account (also for purposes of this Section 3.06, an
“Investment Account”) to invest or if it is such depository institution, may itself invest, the funds held
therein, only in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on
demand, (i) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to
be withdrawn from such account pursuant to this Agreement, if a Person other than the depository institution maintaining such
account is the obligor thereon and (ii) no later than the date on which such funds are required to be withdrawn from such
account pursuant to this Agreement, if the depository institution maintaining such account is the obligor thereon. All such
Permitted Investments shall be held to maturity, unless payable on demand. Any funds held in an Investment Account shall be
held in the name of the Master Servicer or the Special Servicer, as applicable, on behalf of the Trustee (in its capacity as
such) for the benefit of the Certificateholders. The Master Servicer (in the case of the Certificate Account, the Companion
Distribution Account or any Servicing Account maintained by or for the Master Servicer), the Special Servicer (in the case of
the REO Account or any Servicing Account maintained by or for the Special Servicer) on behalf of the Trustee, shall maintain
continuous physical possession of any Permitted Investment of amounts in the Certificate Account, the Companion Distribution
Account, the Servicing Accounts or REO Account, as applicable, that is either (i) a “certificated security,” as
such term is defined in the UCC (such that the Trustee shall have control pursuant to Section 8-106 of the UCC) or (ii) other
property in which a secured party may perfect its security interest by physical possession under the UCC or any other
applicable law. In the case of any Permitted Investment held in the form of a “security entitlement” (within the
meaning of Section 8-102(a)(17) of the UCC), the Master Servicer or the Special Servicer, as applicable, shall take or cause
to be taken such action as the Trustee deems reasonably necessary to cause the Trustee to have control over such security
entitlement. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment
payable on demand, the Master Servicer (in the case of the Certificate Account, the Companion Distribution Account or any
Servicing Account maintained by or for the Master Servicer) or the Special Servicer (in the case of the REO Account or any
Servicing Account maintained by or for the Special Servicer) shall:

 

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(i)            consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (a) all amounts then payable thereunder and (b) the amount
required to be withdrawn on such date; and

 

(ii)           demand
payment of all amounts due thereunder promptly upon determination by the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee, as the case may be, that such Permitted Investment would not constitute a Permitted Investment in
respect of funds thereafter on deposit in the Investment Account.

 

(b)          Interest
and investment income realized on funds deposited in the Certificate Account, the Companion Distribution Account or any
Servicing Account maintained by or for the Master Servicer to the extent of the Net Investment Earnings, if any, with respect
to such account for the period from and including the prior Distribution Date to and including the P&I Advance Date
related to the current Distribution Date, shall be for the sole and exclusive benefit of the Master Servicer to the extent
(with respect to Servicing Accounts) not required to be paid to the related Mortgagor and shall be subject to its withdrawal,
or withdrawal at its direction, in accordance with Section 3.03 or Section 3.05(a), as the case may be.
Interest and investment income realized on funds deposited in the REO Account or any Servicing Account maintained by or for
the Special Servicer, to the extent of the Net Investment Earnings, if any, with respect to such account for each period from
and including any Distribution Date to and including the immediately succeeding P&I Advance Date, shall be for the sole
and exclusive benefit of the Special Servicer and shall be subject to its withdrawal in accordance with Section
3.16(c). In the event that any loss shall be incurred in respect of any Permitted Investment (as to which the Master
Servicer or Special Servicer, as applicable, would have been entitled to any Net Investment Earnings hereunder) directed to
be made by the Master Servicer or Special Servicer, as applicable, and on deposit in any of the Certificate Account, the
Companion Distribution Account, the Servicing Account or the REO Account, the Master Servicer (in the case of the Certificate
Account, the Companion Distribution Account or any Servicing Account maintained by or for the Master Servicer), the Special
Servicer (in the case of the REO Account or any Servicing Account maintained by or for the Special Servicer) shall deposit
therein, no later than the P&I Advance Date, without right of reimbursement, the amount of Net Investment Loss, if any,
with respect to such account for the period from and including the prior Distribution Date to and including the P&I
Advance Date related to the current Distribution Date; provided that neither the Master Servicer nor the Special
Servicer shall be required to deposit any loss on an investment of funds in an Investment Account if such loss is incurred
solely as a result of the insolvency of the federal or state chartered depository institution or trust company that
holds such Investment Account, so long as such depository institution or trust company satisfied the qualifications set forth
in the definition of Eligible Account at the time such investment was made (and, with respect to the Master Servicer, such
federal or state chartered depository institution or trust company is not an Affiliate of the Master Servicer unless such
depository institution or trust company satisfied the qualification set forth in the definition of Eligible Account both (x)
at the time the investment was made and (y) thirty (30) days prior to such insolvency).

 

(c)          Except
as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in

 

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any other performance required under any Permitted Investment, the Master Servicer may and, upon the
request of Holders of Certificates entitled to a majority of the Voting Rights allocated to any Class shall, take such action
as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.

 

Section
3.07     Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage. (a)
The Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced
Companion Loan) shall use its efforts consistent with the Servicing Standard to cause the Mortgagor to maintain (other than
with respect to a Non-Serviced Mortgage Loan), and the Special Servicer (with respect to REO Properties other than any
Non-Serviced Mortgaged Properties) shall maintain, to the extent required by the terms of the related Mortgage Loan
documents, all insurance coverage as is required under the related Mortgage Loan documents except to the extent that the
failure of the related Mortgagor to do so is an Acceptable Insurance Default (and except as provided in the next sentence
with respect to the Master Servicer or Special Servicer, as applicable). If the Mortgagor does not so maintain such insurance
coverage, subject to its recoverability determination with respect to any required Servicing Advance, the Master Servicer
(with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan) or the
Special Servicer (with respect to REO Properties other than a Non-Serviced Mortgaged Property) shall maintain all insurance
coverage as is required under the related Mortgage, but only in the event the Trustee has an insurable interest therein and
such insurance is available to the Master Servicer or the Special Servicer and, if available, can be obtained at commercially
reasonable rates, as determined (prior to the occurrence and continuance of any Control Event, any determination that such
insurance coverage is not available or not available at commercially reasonable rates to be made with the consent of the
Directing Certificateholder (or, with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of a
related AB Control Appraisal Period, with the consent of the holder of the related AB Subordinate Companion Loan)) by the
Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related
Serviced Companion Loan) or the Special Servicer (with respect to REO Properties other than any Non-Serviced Mortgaged
Property) except to the extent that the failure of the related Mortgagor to do so is an Acceptable Insurance Default as
determined by the Special Servicer; provided, however, that if any Mortgage permits the holder thereof to
dictate to the Mortgagor the insurance coverage to be maintained on such Mortgaged Property, the Master Servicer or, with
respect to REO Property, the Special Servicer, as applicable, shall impose or maintain, as applicable, such insurance
requirements as are consistent with the Servicing Standard taking into account the insurance in place at the closing of the
Mortgage Loan and only in the event the Trustee has an insurable interest therein and such insurance is available to the
Master Servicer or the Special Servicer, as applicable, and, if available, can be obtained at commercially reasonable rates, provided
that, with respect to the immediately preceding proviso, the Master Servicer will be obligated to use efforts consistent with
the Servicing Standard to cause the Mortgagor to maintain (or to itself maintain) insurance against property damage resulting
from terrorist or similar acts unless the Mortgagor’s failure is an Acceptable Insurance Default (as determined by the
Special Servicer with (unless a Control Event has occurred and is continuing) the consent of the Directing
Certificateholder). The Master Servicer and Special Servicer shall be entitled to rely on insurance consultants (at the
applicable servicer’s expense) in determining whether any insurance is available at commercially reasonable rates.
Subject to Section 3.17(a) and the costs

 

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of
such insurance being reimbursed or paid to the Special Servicer as provided in the third-to-last sentence of this paragraph,
the Special Servicer shall maintain for each REO Property (other than any Non-Serviced Mortgaged Property) no less insurance
coverage than was previously required of the Mortgagor under the related Mortgage Loan documents unless the Special Servicer
(prior to the occurrence and continuance of a Control Event, with the consent of the Directing Certificateholder) determines
that such insurance is not available at commercially reasonable rates or that the Trustee does not have an insurable
interest, in which case the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s
determination. All Insurance Policies maintained by the Master Servicer or the Special Servicer shall (i) contain a
“standard” mortgagee clause, with loss payable to the Master Servicer on behalf of the Trustee (in the case of
insurance maintained in respect of Mortgage Loans (other than any Non-Serviced Mortgage Loan), including any related Serviced
Companion Loan, other than REO Properties) or to the Special Servicer on behalf of the Trustee (in the case of insurance
maintained in respect of REO Properties), (ii) be in the name of the Trustee (in the case of insurance maintained in respect
of REO Properties), (iii) include coverage in an amount not less than the lesser of (x) the full replacement cost of the
improvements securing Mortgaged Property or the REO Property, as applicable, and (y) the outstanding principal balance owing
on the related Mortgage Loan (including any related Serviced Companion Loan) or REO Loan, as applicable, and in any event,
the amount necessary to avoid the operation of any co-insurance provisions, (iv) include a replacement cost endorsement
providing no deduction for depreciation (unless such endorsement is not permitted under the related Mortgage Loan documents),
(v) be noncancelable without thirty (30) days prior written notice to the insured party (except in the case of nonpayment, in
which case such policy shall not be cancelled without ten (10) days prior notice) and (vi) subject to the first proviso in
the second sentence of this Section 3.07(a), be issued by a Qualified Insurer authorized under applicable law to issue
such Insurance Policies. Any amounts collected by the Master Servicer or Special Servicer under any such Insurance
Policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or REO Property or
amounts to be released to the related Mortgagor, in each case in accordance with the Servicing Standard and the provisions of
the related Mortgage Loan documents) shall be deposited in the Certificate Account, subject to withdrawal pursuant to Section
3.05(a). Any costs incurred by the Master Servicer in maintaining any such Insurance Policies in respect of Mortgage
Loans (including any related Serviced Companion Loan) (other than REO Properties and other than any Non-Serviced Mortgage
Loan) (i) if the Mortgagor defaults on its obligation to do so, shall be advanced by the Master Servicer as a Servicing
Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance would be a Nonrecoverable Advance
then such cost shall instead be paid out of the Certificate Account) and will be charged to the related Mortgagor and (ii)
shall not, for purposes of calculating monthly distributions to Certificateholders, be added to the unpaid principal balance
of the related Mortgage Loan and Serviced Companion Loan (if any), notwithstanding that the terms of such Mortgage Loan or
Serviced Companion Loan so permit. Any cost incurred by the Special Servicer in maintaining any such Insurance Policies with
respect to REO Properties shall be an expense of the Trust payable out of the related REO Account pursuant to Section
3.16(c) or, if the amount on deposit therein is insufficient therefor, advanced by the Master Servicer as a Servicing
Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance would be a Nonrecoverable Advance
then such cost shall instead be paid out of the Certificate Account). The foregoing provisions of this Section 3.07 shall
apply to any Serviced Whole Loan as if it

 

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were a single “Mortgage Loan”. Notwithstanding any provision to the
contrary, the Master Servicer will not be required to maintain, and will not be in default for failing to obtain, any
earthquake or environmental insurance on any Mortgaged Property unless such insurance was required at the time of origination
of the related Mortgage Loan and is currently available at commercially reasonable rates.

 

Notwithstanding
the foregoing, with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced
Companion Loan that either (x) require the Mortgagor to maintain “all risk” property insurance (and do not
expressly permit an exclusion for terrorism) or (y) contain provisions generally requiring the applicable Mortgagor to
maintain insurance in types and against such risks as the holder of such Mortgage Loan (including any related Serviced
Companion Loan) reasonably requires from time to time in order to protect its interests, the Master Servicer will be required
to, consistent with the Servicing Standard, (A) monitor in accordance with the Servicing Standard whether the insurance
policies for the related Mortgaged Property contain Additional Exclusions, (B) request the Mortgagor to either purchase
insurance against the risks specified in the Additional Exclusions or provide an explanation as to its reasons for failing to
purchase such insurance and (C) notify the Special Servicer if it has knowledge that any insurance policy contains Additional
Exclusions or if it has knowledge (such knowledge to be based upon the Master Servicer’s compliance with the
immediately preceding clauses (A) and (B) above) that any Mortgagor fails to purchase the insurance requested
to be purchased by the Master Servicer pursuant to clause (B) above. If the Special Servicer determines in accordance
with the Servicing Standard that such failure is not an Acceptable Insurance Default, the Special Servicer shall notify the
Master Servicer and the Master Servicer shall use efforts consistent with the Servicing Standard to cause such insurance to
be maintained. The Special Servicer (at the expense of the Trust) shall be entitled to rely on insurance consultants in
making such determinations. The Master Servicer shall be entitled to rely on insurance consultants (at the expense of such
Master Servicer) in determining whether Additional Exclusions exist. Furthermore, the Special Servicer shall promptly deliver
such conclusions in writing to the 17g–5 Information Provider for posting to the 17g–5 Information
Provider’s Website for those Mortgage Loans that (i) have one of the ten (10) highest outstanding principal balances of
all of the Mortgage Loans then included in the Trust or (ii) comprise more than 5% of the outstanding Stated Principal
Balance of the Mortgage Loans then included in the Trust. During the period that the Special Servicer is evaluating the
availability of such insurance or waiting for a response from the Directing Certificateholder, neither the Master Servicer
nor the Special Servicer will be liable for any loss related to its failure to require the Mortgagor to maintain such
insurance and will not be in default of its obligations as a result of such failure and the Master Servicer will not itself
maintain such insurance or cause such insurance to be maintained.

 

(b)          (i)
If the Master Servicer or the Special Servicer shall obtain and maintain a blanket Insurance Policy with a Qualified Insurer insuring
against fire and hazard losses on all of the Mortgage Loans (including any related Serviced Companion Loan, but excluding any
Non-Serviced Mortgage Loan) or REO Properties (other than with respect to a Non-Serviced Mortgaged Property), as the case may
be, required to be serviced and administered hereunder, then, to the extent such Insurance Policy provides protection equivalent
to the individual policies otherwise required, the Master Servicer or the Special Servicer shall conclusively be deemed to have
satisfied its obligation to cause fire and hazard insurance to be maintained on the related

 

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Mortgaged Properties or REO Properties.
Such Insurance Policy may contain a deductible clause, in which case the Master Servicer or the Special Servicer shall, if there
shall not have been maintained on the related Mortgaged Property or REO Property a fire and hazard Insurance Policy complying
with the requirements of Section 3.07(a), and there shall have been one or more losses which would have been covered by
such Insurance Policy, promptly deposit into the Certificate Account from its own funds the amount of such loss or losses that
would have been covered under the individual policy but are not covered under the blanket Insurance Policy because of such deductible
clause to the extent that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan (including
any related Serviced Companion Loan), or in the absence of such deductible limitation, the deductible limitation which is consistent
with the Servicing Standard. In connection with its activities as administrator and Master Servicer of the Mortgage Loans or any
Serviced Companion Loans, the Master Servicer agrees to prepare and present, on behalf of itself, the Trustee and Certificateholders,
claims under any such blanket Insurance Policy in a timely fashion in accordance with the terms of such policy. The Special Servicer,
to the extent consistent with the Servicing Standard, may maintain, earthquake insurance on REO Properties (other than with respect
to a Non-Serviced Mortgaged Property), provided coverage is available at commercially reasonable rates, the cost of which
shall be a Servicing Advance.

 

(ii)           If
the Master Servicer or the Special Servicer shall cause any Mortgaged Property or REO Property to be covered by a master
single interest or force-placed insurance policy with a Qualified Insurer naming the Master Servicer or the Special Servicer
on behalf of the Trustee as the loss payee, then to the extent such Insurance Policy provides protection equivalent to the
individual policies otherwise required, the Master Servicer or the Special Servicer shall conclusively be deemed to have
satisfied its obligation to cause such insurance to be maintained on the related Mortgaged Properties and REO Properties. In
the event the Master Servicer or the Special Servicer shall cause any Mortgaged Property or REO Property to be covered by
such master single interest or force-placed insurance policy, the incremental costs of such insurance applicable to such
Mortgaged Property or REO Property (i.e., other than any minimum or standby premium payable for such policy whether or not
any Mortgaged Property or REO Property is covered thereby) shall be paid by the Master Servicer as a Servicing Advance. Such
master single interest or force-placed policy may contain a deductible clause, in which case the Master Servicer or the
Special Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO
Property a policy otherwise complying with the provisions of Section 3.07(a), and there shall have been one or more
losses which would have been covered by such policy had it been maintained, deposit into the Certificate Account from its own
funds the amount not otherwise payable under the master single or force-placed interest policy because of such deductible
clause, to the extent that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan,
including any related Serviced Companion Loan, or, in the absence of any such deductible limitation, the deductible
limitation which is consistent with the Servicing Standard.

 

(c)          Each
of the Master Servicer and the Special Servicer shall obtain and maintain at its own expense and keep in full force and effect
throughout the term of this Agreement a blanket fidelity bond and an errors and omissions insurance policy with a Qualified

 

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Insurer
covering the Master Servicer’s and the Special Servicer’s, as applicable, officers and employees acting on behalf
of the Master Servicer and the Special Servicer in connection with its activities under this Agreement. Such amount of coverage
shall be in such form and amount as are consistent with the Servicing Standard. Coverage of the Master Servicer or the Special
Servicer under a policy or bond obtained by an Affiliate of the Master Servicer or the Special Servicer and providing the coverage
required by this Section 3.07(c) shall satisfy the requirements of this Section 3.07(c). The Special Servicer and
the Master Servicer will promptly report in writing to the Trustee any material changes that may occur in their respective fidelity
bonds, if any, and/or their respective errors and omissions insurance policies, as the case may be, and will furnish to the Trustee
copies of all binders and policies or certificates evidencing that such bonds, if any, and insurance policies are in full force
and effect.

 

(d)          At
the time the Master Servicer determines in accordance with the Servicing Standard that any Mortgaged Property (other than a Non-Serviced
Mortgaged Property) is in a federally designated special flood hazard area (and such flood insurance has been made available),
the Master Servicer will use efforts consistent with the Servicing Standard to cause the related Mortgagor (in accordance with
applicable law and the terms of the Mortgage Loan and related Serviced Companion Loan documents) to maintain, and, if the related
Mortgagor shall default in its obligation to so maintain, shall itself maintain to the extent available at commercially reasonable
rates (as determined by the Master Servicer in accordance with the Servicing Standard and to the extent the Trustee, as mortgagee,
has an insurable interest therein), flood insurance in respect thereof, but only to the extent the related Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan permits the mortgagee to require such coverage and the maintenance
of such coverage is consistent with the Servicing Standard. Such flood insurance shall be in an amount equal to the lesser of
(i) the unpaid principal balance of the related Mortgage Loan (and any related Serviced Companion Loan, if applicable), and (ii)
the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as amended, plus such additional
excess flood coverage with respect to the Mortgaged Property, if any, in an amount consistent with the Servicing Standard. If
the cost of any insurance described above is not borne by the Mortgagor, the Master Servicer shall promptly make a Servicing Advance
for such costs.

 

(e)          During
all such times as any REO Property (other than with respect to a Non-Serviced Mortgaged Property) shall be located in a
federally designated special flood hazard area, the Special Servicer will cause to be maintained, to the extent available at
commercially reasonable rates (as determined by the Special Servicer (prior to the occurrence and continuance of a Control
Event, with the consent of the Directing Certificateholder) in accordance with the Servicing Standard), a flood insurance
policy meeting the requirements of the current guidelines of the Federal Insurance Administration in an amount representing
coverage not less than the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as
amended. The cost of any such flood insurance with respect to an REO Property shall be an expense of the Trust payable out of
the related REO Account pursuant to Section 3.16(c) or, if the amount on deposit therein is insufficient therefor,
paid by the Master Servicer as a Servicing Advance.

 

(f)           Notwithstanding
the foregoing, so long as the long term debt obligations or the deposit account or claims paying ability of the Master Servicer
(or its immediate or remote

 

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parent) or the Special Servicer (or its immediate or remote parent), as applicable, is rated at least
“A2” by Moody’s and “A-” by Fitch, the Master Servicer (or its public parent) or the Special Servicer
(or its public parent), as applicable, shall be allowed to provide self-insurance with respect to any of its obligations under
this Section 3.07.

 

Section
3.08     Enforcement of Due-on-Sale Clauses; Assumption Agreements. (a) As to each Mortgage Loan
(other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that contains a provision in the nature of a
“due-on-sale” clause, which by its terms:

 

(i)            provides
that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and payable upon
the sale or other transfer of an interest in the related Mortgaged Property or equity interests in the Mortgagor or principals
of the Mortgagor; or

 

(ii)           provides
that such Mortgage Loan and any related Companion Loan may not be assumed without the consent of the mortgagee in connection with
any such sale or other transfer,

 

then,
for so long as such Mortgage Loan or related Serviced Companion Loan is being serviced under this Agreement, the Special
Servicer or, with respect to all Non-Specially Serviced Mortgage Loans (other than the Non-Serviced Mortgage Loans), the
Master Servicer, on behalf of the Trustee as the mortgagee of record, shall (a) exercise any right it may have with respect
to such Mortgage Loan or related Companion Loan (x) to accelerate the payments thereon or (y) to withhold its consent to any
sale or transfer, consistent with the Servicing Standard or (b) waive any right to exercise such rights, provided
that, (i) with respect to all Non-Specially Serviced Mortgage Loans, the Master Servicer has made a written analysis and
recommendation and obtained the prior written consent (or deemed consent) of the Special Servicer, which consent shall be
deemed given five (5) Business Days after the ten (10) Business Day review period of the Directing Certificateholder (or,
with respect to such ten (10) Business Day period, such longer period as required by the related Intercreditor Agreement for
review by any related Companion Holder), after receipt (unless earlier objected to) by the Special Servicer from the Master
Servicer of the Master Servicer’s written analysis and recommendation with respect to such waiver or exercise of such
right together with such other information reasonably required by the Special Servicer, (ii) with respect to all Specially
Serviced Mortgage Loans and Non-Specially Serviced Mortgage Loans, the Special Servicer shall, prior to consenting to such a
proposed action of the Master Servicer, obtain, and, prior to itself taking such an action, the Special Servicer shall obtain
prior to the occurrence and continuance of a Control Event, the prior written consent (or deemed consent) of the Directing
Certificateholder (or, with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB
Control Appraisal Period, the holder of the related AB Subordinate Companion Loan, to the extent required under the
Intercreditor Agreement) (or after the occurrence and continuance of a Control Event, but prior to a Consultation
Termination Event, upon consultation with the Directing Certificateholder pursuant to Section 6.07 hereof, which
consent shall be deemed given ten (10) Business Days after receipt from the Special Servicer (unless earlier objected to by
the Directing Certificateholder) of the Master Servicer’s and/or Special Servicer’s, as applicable, written
analysis and recommendation with respect to such waiver together with such other

 

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information reasonably required by the
Directing Certificateholder (or, with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of an AB
Control Appraisal Period, the prior consent of the related AB Whole Loan Controlling Holder, to the extent required under the
related Intercreditor Agreement) and (iii) with respect to any Mortgage Loan (x) with a Stated Principal Balance greater than
or equal to $20,000,000, (y) with a Stated Principal Balance greater than or equal to 5% of the aggregate Stated Principal
Balance of the Mortgage Loans then outstanding or (z) together with all other Mortgage Loans with which it is
cross-collateralized or cross-defaulted or together with all other Mortgage Loans with the same Mortgagor (or an Affiliate
thereof), that is one of the ten largest Mortgage Loans outstanding (by Stated Principal Balance), the Master Servicer or the
Special Servicer, as the case may be, prior to consenting to any action, shall obtain, a Rating Agency Confirmation from each
Rating Agency and a confirmation of any applicable rating agency that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if
any) (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating
Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30), provided, however,
that with respect to subclauses (y) and (z) of this subclause (ii), such Mortgage Loan shall also have
a Stated Principal Balance of at least $10,000,000 for such Rating Agency Confirmation requirement to apply.

 

In
connection with any request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion
Loan Securities, the related rating agencies) pursuant to this Section 3.08(a), the Master Servicer or the Special Servicer,
as applicable, shall (if not already provided in accordance with Section 3.30 of this Agreement) deliver a Review Package
to the 17g–5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related 17g–5 information provider)
in accordance with Section 3.30 of this Agreement.

 

If
any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan provides that such Mortgage
Loan or related Serviced Companion Loan may be assumed or transferred without the consent of the mortgagee; provided
that certain conditions are satisfied, then for so long as such Mortgage Loan or related Serviced Companion Loan is being
serviced under this Agreement, the Special Servicer, with respect to all Specially Serviced Mortgage Loans (other than the
Non-Serviced Mortgage Loans), related Serviced Companion Loans, on behalf of the Trustee as the mortgagee of record, shall
determine in accordance with the Servicing Standard whether such conditions have been satisfied, or, with respect to any
Non-Specially Serviced Mortgage Loan which does not allow the mortgagee discretion in approving a transfer or assumption or
does not allow for discretion in determining whether conditions to a transfer or assumption have been satisfied, the Master
Servicer, on behalf of the Trustee as mortgagee of record, shall make such determination with respect to whether such
conditions have been satisfied.

 

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(b)          As
to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and any related Companion Loan that contains a provision in the
nature of a “due-on-encumbrance” clause that by its terms:

 

(i)            provides
that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and payable upon
the creation of any additional lien or other encumbrance on the related Mortgaged Property or equity interests in the Mortgagor
or principals of the Mortgagor; or

 

(ii)           requires
the consent of the mortgagee to the creation of any such additional lien or other encumbrance on the related Mortgaged Property
or equity interests in the Mortgagor or principals of the Mortgagor;

 

then,
for so long as such Mortgage Loan (and related Companion Loan, if applicable) is serviced under this Agreement, the Special
Servicer or, with respect to all Non-Specially Serviced Mortgage Loans (other than the Non-Serviced Mortgage Loans), the
Master Servicer, on behalf of the Trustee as the mortgagee of record, shall (a) exercise any right it may have with respect
to such Mortgage Loan or related Companion Loan (x) to accelerate the payments thereon or (y) to withhold its consent to the
creation of any additional lien or other encumbrance, consistent with the Servicing Standard or (b) waive its right to
exercise such rights, provided that (i) with respect to all Non-Specially Serviced Mortgage Loans, the Master Servicer
has made a recommendation and obtained the prior written consent (or deemed consent) of the Special Servicer, which consent
shall be deemed given five (5) Business Days after the ten (10) Business Day review period of the Directing Certificateholder
(or, with respect to such ten (10) Business Day period, such longer period as required by the related Intercreditor Agreement
for review by any related Companion Holder), after receipt (unless earlier objected to) by the Special Servicer from the
Master Servicer of the Master Servicer’s written analysis and recommendation with respect to such waiver or exercise of
such right together with such other information reasonably required by the Special Servicer, (ii) with respect to all
Specially Serviced Mortgage Loans and the Non-Specially Serviced Mortgage Loan, the Special Servicer has obtained prior to
the occurrence and continuance of a Control Event, the prior written consent (or deemed consent) of the Directing
Certificateholder (or, with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB
Control Appraisal Period, the holder of the related AB Subordinate Companion Loan, to the extent required under the
Intercreditor Agreement), which consent shall be deemed given ten (10) Business Days after receipt by the Directing
Certificateholder of the Special Servicer’s written analysis and recommendation with respect to such waiver or exercise
of such rights together with such other information reasonably required by the Directing Certificateholder (or, with respect
to any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB Control Appraisal Period, the holder
of the related AB Whole Loan Controlling Holder, to the extent required under the Intercreditor Agreement), and (iii) the
Master Servicer or the Special Servicer, as the case may be, has obtained Rating Agency Confirmation from each Rating Agency
and a confirmation of any applicable rating agency that such action will not result in the downgrade, withdrawal or
qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that
such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be
considered satisfied with respect to the Certificates pursuant to Section 3.30) if such Mortgage Loan (A) has an
outstanding principal

 

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balance that is greater than or equal to 2% of the Stated Principal Balance of the outstanding Mortgage
Loans or (B) has an LTV Ratio greater than 85% (including any existing and proposed debt) or (C) has a Debt Service Coverage
Ratio less than 1.20x (in each case, determined based upon the aggregate of the Stated Principal Balance of the Mortgage Loan
and related Companion Loan, if any, and the principal amount of the proposed additional loan) or (D) is one of the ten
largest Mortgage Loans (by Stated Principal Balance) or (E) has a Stated Principal Balance greater than $20,000,000; provided, however,
that with respect to subclauses (A), (B), (C) and (D) of this subclause (iii), such
Mortgage Loan shall also have a Stated Principal Balance of at least $10,000,000 for such Rating Agency Confirmation
requirement to apply.

 

In
connection with any request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion
Loan Securities, the related rating agencies) pursuant to this Section 3.08(b), the Master Servicer or the Special Servicer,
as applicable, shall (if not already provided in accordance with Section 3.30 of this Agreement) deliver a Review Package
to the 17g-5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related 17g-5 information provider)
in accordance with Section 3.30 of this Agreement.

 

To
the extent permitted by the related Mortgage Loan documents, the Rating Agency Confirmation described in the immediately preceding
paragraph or in Section 3.08(a) shall be an expense of the related Mortgagor; provided that if the Mortgage Loan
documents are silent as to who bears the costs of obtaining any such Rating Agency Confirmation, the Master Servicer or the Special
Servicer, as applicable, shall use reasonable efforts to make the related Mortgagor bear such costs and expenses. Unless determined
to be non-recoverable such costs not collected from the related Mortgagor shall be advanced as a Servicing Advance.

 

If
any Mortgage Loan or related Companion Loan provides that such Mortgage Loan or related Companion Loan may be further encumbered
without the consent of the mortgagee provided that certain conditions are satisfied and there is no lender discretion with
respect to the satisfaction of such conditions, then for so long as such Mortgage Loan or related Companion Loan is being serviced
under this Agreement, the Special Servicer, with respect to all Specially Serviced Mortgage Loans (other than a Non-Serviced Mortgage
Loan), on behalf of the Trustee as the mortgagee of record, shall determine whether such conditions have been satisfied, or, with
respect to all Non-Specially Serviced Mortgage Loans which do not allow the mortgagee discretion in determining whether conditions
are satisfied, the Master Servicer, on behalf of the Trustee as mortgagee of record, shall make such determination with respect
to whether such conditions have been satisfied.

 

(c)          Nothing
in this Section 3.08 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive notice
of any assumption of a Mortgage Loan, any sale or other transfer of the related Mortgaged Property or the creation of any additional
lien or other encumbrance with respect to such Mortgaged Property.

 

(d)          Except
as otherwise permitted by Section 3.08(a) and (b) and/or Section 3.20, neither the Master Servicer nor the
Special Servicer shall agree to modify, waive or amend any term of any Mortgage Loan and related Serviced Companion Loan, as applicable,
in connection with the taking of, or the failure to take, any action pursuant to this Section 3.08. The

 

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Master Servicer
and the Special Servicer, as applicable, shall provide copies of any final waivers (except with respect to provision of any such
waivers to the 17g-5 Information Provider, exclusive of any Privileged Information) it effects pursuant to Section 3.08(a)
or (b) to each other and to the 17g-5 Information Provider with respect to each Mortgage Loan, and shall notify the
Trustee, the Certificate Administrator, each other and, subject to the terms of this Agreement, the 17g-5 Information Provider
(for posting to the 17g-5 Information Provider’s Website in accordance with Section 3.30) and, with respect to a
Whole Loan, the related Serviced Companion Noteholder, of any assumption or substitution agreement executed pursuant to Section
3.08(a) or (b) and shall forward thereto a copy of such agreement.

 

(e)          Notwithstanding
any other provisions of this Section 3.08 or Section 3.20, but subject to any related Intercreditor Agreement,
the Master Servicer may with respect to Non-Specially Serviced Mortgage Loans, without any Directing Certificateholder
approval, Rating Agency Confirmation or Special Servicer approval (provided the Master Servicer delivers notice
thereof to the Special Servicer after completion (and the Special Servicer shall promptly, prior to the occurrence of a
Consultation Termination Event, deliver notice thereof to the Directing Certificateholder, except to the extent that the
Special Servicer or the Directing Certificateholder, as the case may be, notifies the Master Servicer that such party does
not desire to receive copies of such items), (i) grant waivers of non-material covenant defaults (other than financial
covenants), including late financial statements; (ii) consent to releases of non-material, non-income producing parcels of a
Mortgaged Property that do not materially affect the use or value of the Mortgaged Property or the ability of the related
Mortgagor to pay amounts due in respect of the Mortgage Loan or Companion Loan as and when due provided such releases are
required by the related Mortgage Loan documents and there is no lender discretion permitted under the Mortgage Loan
documents; (iii) approve or consent to grants of easements or rights of way for utilities, access, parking, public
improvements or another purpose or subordinations of the lien of Mortgage Loans to easements that do not materially
affect the use or value of a Mortgaged Property or a Mortgagor’s ability to make any payments with respect to the
related Mortgage Loan and any related Companion Loan; (iv) grant other routine approvals, including the granting of
subordination, non-disturbance and attornment agreements and leasing consents that affect less than the lesser of (a) 30% of
the net rentable area of the Mortgaged Property or (b) 30,000 square feet; (v) consent to actions related to condemnation of
non-material, non-income producing parcels of the Mortgaged Property that do not materially affect the use or value of the
Mortgaged Property or the ability of the related Mortgagor to pay amounts due in respect of the Mortgage Loan or Companion
Loan when due; (vi) consent to a change in property management relating to any Mortgage Loan or related Companion Loan with
respect to Mortgage Loans (including any related Companion Loans) with an outstanding principal balance of less than
$2,500,000; and (vii) approve of annual operating budgets; provided that (w) any such modification, waiver or
amendment would not in any way affect a payment term of the Certificates, (x) any such modification, waiver or amendment
would not constitute a “significant modification” of such Mortgage Loan or Companion Loan pursuant to Treasury
Regulations Section 1.860G-2(b) and would not otherwise cause either Trust REMIC to fail to qualify as a REMIC for federal
income tax purposes (as evidenced by an Opinion of Counsel (at the expense of the Trust to the extent not reimbursed or paid
by the related Mortgagor), to the extent requesting such opinion is consistent with the Servicing Standard), (y) agreeing to
such modification, waiver or amendment would be consistent with the Servicing Standard, and (z) agreeing to such
modification, waiver or amendment would not violate the terms, provisions

 

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or limitations of this Agreement or any
Intercreditor Agreement. The foregoing is intended to be an itemization of actions the Master Servicer may take without
having to obtain the approval of any other party and is not intended to limit the responsibilities of the Master Servicer
hereunder.

 

(f)           Notwithstanding
any other provision of this Agreement, the Master Servicer may not waive its rights or grant its consent under any “due-on-sale”
or “due-on-encumbrance” clause without the consent of the Special Servicer and the Special Servicer may not waive
its rights or grant its consent under any “due-on-sale” or “due-on-encumbrance” clause relating to a Non-Specially
Serviced Mortgage Loan or relating to any Specially Serviced Mortgage Loan without (prior to the occurrence and continuance of
a Control Event) the consent of the Directing Certificateholder (or after the occurrence and during the continuance of a Control
Event, but prior to a Consultation Termination Event, upon consultation with the Directing Certificateholder pursuant to Section
6.07 hereof). The Directing Certificateholder shall have ten (10) Business Days after receipt of notice along with the Master
Servicer’s or Special Servicer’s recommendation and analysis with respect to such proposed waiver or proposed granting
of consent and any additional information the Directing Certificateholder may reasonably request from the Special Servicer of
a proposed waiver or consent under any “due on sale” or “due-on-encumbrance” clause in which to grant
or withhold its consent (provided that if the Special Servicer fails to receive a response to such notice from the Directing
Certificateholder in writing within such period, then the Directing Certificateholder shall be deemed to have consented to such
proposed waiver or consent).

 

(g)          Notwithstanding
the foregoing provisions of this Section 3.08, if the Master Servicer (with respect to Non-Specially Serviced Mortgage
Loans) or the Special Servicer (with respect to Specially Serviced Mortgage Loans) makes a determination under Sections 3.08(a)
or 3.08(b) hereof that the applicable conditions in the related Mortgage Loan or Companion Loan documents, as applicable,
with respect to assumptions or encumbrances permitted without the consent of the mortgagee have been satisfied, the applicable
assumptions and transfers may be subject to an assumption or other fee, unless such fees are otherwise prohibited pursuant to
the Mortgage Loan documents; provided that any such fee not provided for in the Mortgage Loan documents does not constitute
a “significant” change in yield pursuant to Treasury Regulations Section 1.1001-3(e)(2).

 

Section
3.09     Realization Upon Defaulted Mortgage Loans and Companion Loans. (a) Upon an event of
default under the Mortgage Loan documents related to a Serviced Whole Loan or a Mortgage Loan with mezzanine debt, the Master
Servicer shall promptly provide written notice to the related Companion Holder or mezzanine lender, as applicable, with a
copy of such notice to the Special Servicer. The Special Servicer shall, subject to subsections (b) through (d)
of this Section 3.09 and Section 3.29, subject to the Directing Certificateholders’ rights pursuant to Section
6.07, and any Companion Holder or mezzanine lender’s rights under the related Intercreditor Agreement (in the case
of a Serviced Whole Loan, on behalf of the holders of the beneficial interest of the related Companion Loan) or this
Agreement, exercise reasonable efforts, consistent with the Servicing Standard, to foreclose upon or otherwise comparably
convert (which may include an REO Acquisition) the ownership of property securing any such Mortgage Loan (other than any
Non-Serviced Mortgage Loan) or Companion Loan, if any, as come into and continue in default as to which no satisfactory
arrangements (including by way of a discounted pay-off) can be made for collection of

 

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delinquent payments, and which are not
released from the Trust Fund pursuant to any other provision hereof. The foregoing is subject to the provision that, in any
case in which a Mortgaged Property shall have suffered damage from an Uninsured Cause, the Master Servicer or Special
Servicer shall not be required to make a Servicing Advance and expend funds toward the restoration of such property unless
the Special Servicer has determined in its reasonable discretion that such restoration will increase the net proceeds of
liquidation of such Mortgaged Property to Certificateholders after reimbursement to the Master Servicer for such Servicing
Advance, and the Master Servicer or Special Servicer has not determined that such Servicing Advance together with accrued and
unpaid interest thereon would constitute a Nonrecoverable Advance. The costs and expenses incurred by the Special Servicer in
any such proceedings shall be advanced by the Master Servicer; provided that, in each case, such cost or expense
would not, if incurred, constitute a Nonrecoverable Servicing Advance. Nothing contained in this Section 3.09 shall be
construed so as to require the Master Servicer or the Special Servicer, on behalf of the Trust, to make a bid on any
Mortgaged Property at a foreclosure sale or similar proceeding that is in excess of the fair market value of such property,
as determined by the Master Servicer or the Special Servicer in its reasonable judgment taking into account the factors
described in Section 3.18(b) and the results of any Appraisal obtained pursuant to the following sentence, all such
bids to be made in a manner consistent with the Servicing Standard. If and when the Special Servicer or the Master Servicer
deems it necessary and prudent for purposes of establishing the fair market value of any Mortgaged Property securing a
Defaulted Mortgage Loan or any related defaulted Companion Loan, whether for purposes of bidding at foreclosure or otherwise,
the Special Servicer or the Master Servicer, as the case may be, is authorized to have an Appraisal performed with respect to
such property by an Independent MAI-designated appraiser the cost of which shall be paid by the Master Servicer as a
Servicing Advance.

 

(b)          The
Special Servicer shall not acquire any personal property pursuant to this Section 3.09 unless either:

 

(i)            such
personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by the Special
Servicer; or

 

(ii)           the
Special Servicer shall have obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer as a Servicing
Advance) to the effect that the holding of such personal property by the Trust Fund (to the extent not allocable to the related
Companion Loan) will not cause the imposition of a tax on any Trust REMIC under the REMIC Provisions or cause any Trust REMIC
to fail to qualify as a REMIC at any time that any Uncertificated Lower-Tier Interest or Certificate is outstanding.

 

(c)          Notwithstanding
the foregoing provisions of this Section 3.09 and Section 3.29, neither the Master Servicer nor the Special Servicer
shall, on behalf of the Trustee, obtain title to a Mortgaged Property in lieu of foreclosure or otherwise, or take any other action
with respect to any Mortgaged Property, if, as a result of any such action, the Trustee, on behalf of the Certificateholders and/or
any related Companion Holder, would be considered to hold title to, to be a “mortgagee-in-possession” of, or to be
an “owner” or “operator” of such Mortgaged Property within the meaning of CERCLA or any comparable law,
unless (as evidenced by an Officer’s Certificate to such effect delivered to the Trustee) the Special Servicer has previously
determined in accordance with the Servicing Standard, based on an Environmental Assessment

 

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of such Mortgaged Property performed
by an Independent Person who regularly conducts Environmental Assessments and performed within six (6) months prior to any such
acquisition of title or other action, that:

 

(i)            the
Mortgaged Property is in compliance with applicable environmental laws and regulations or, if not, that taking such actions as
are necessary to bring the Mortgaged Property in compliance therewith is reasonably likely to produce a greater recovery on a
net present value basis than not taking such actions, for such purposes taking into account any insurance coverage provided pursuant
to any environmental insurance policies in effect and obtained on behalf of the mortgagee with respect to the related Mortgaged
Property; and

 

(ii)           there
are no circumstances or conditions present at the Mortgaged Property relating to the use, management or disposal of Hazardous
Materials for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any applicable
environmental laws and regulations or, if such circumstances or conditions are present for which any such action could be required,
that taking such actions with respect to such Mortgaged Property is reasonably likely to produce a greater recovery on a net present
value basis than not taking such actions.

 

The
cost of any such Environmental Assessment shall be paid by the Master Servicer as a Servicing Advance and the cost of any
remedial, corrective or other further action contemplated by clause (i) and/or clause (ii) of the preceding
sentence shall be paid by the Master Servicer as a Servicing Advance, unless it is a Nonrecoverable Servicing Advance (in
which case it shall be an expense of the Trust Fund and, in the case of a Serviced Whole Loan, shall be withdrawn in
accordance with the related Intercreditor Agreement by the Master Servicer from the Certificate Account, including from the
Companion Distribution Account (such withdrawal to be made from amounts on deposit therein that are otherwise payable on or
allocable to such Serviced Whole Loan)); and if any such Environmental Assessment so warrants, the Special Servicer shall,
except with respect to any Companion Loan and any Environmental Assessment ordered after such Mortgage Loan has been paid in
full, perform such additional environmental testing at the expense of the Trust Fund as it deems necessary and prudent to
determine whether the conditions described in clauses (i) and (ii) of the preceding sentence have been
satisfied. With respect to Non-Specially Serviced Mortgage Loans, the Master Servicer and, with respect to Specially Serviced
Mortgage Loans, the Special Servicer (other than any Non-Serviced Mortgage Loan) shall review and be familiar with the terms
and conditions relating to enforcing claims and shall monitor the dates by which any claim or action must be taken (including
delivering any notices to the insurer and using reasonable efforts to perform any actions required under such policy) under
each environmental insurance policy in effect and obtained on behalf of the mortgagee to receive the maximum proceeds
available under such policy for the benefit of the Certificateholders and the Trustee (as holder of the
Uncertificated Lower-Tier Interests).

 

(d)          If
(i) the environmental testing contemplated by subsection (c) above establishes that either of the conditions set forth
in clauses (i) and (ii) of subsection (c) above of the first sentence thereof has not been satisfied with
respect to any Mortgaged Property securing a Defaulted Mortgage Loan and, in the case of a Serviced Mortgage Loan, any related

 

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Companion Loan, and (ii) there has been no breach of any of the representations and warranties set forth in or required to be
made pursuant to Section 6 of each of the Mortgage Loan Purchase Agreements for which the applicable Mortgage Loan Seller could
be required to repurchase such Defaulted Mortgage Loan pursuant to Section 6 of the applicable Mortgage Loan Purchase Agreement,
then the Special Servicer shall take such action as it deems to be in the best economic interest of the Trust Fund (other than
proceeding to acquire title to the Mortgaged Property) and is hereby authorized (prior to the occurrence and continuance of a
Control Event (or with respect to any Serviced AB Mortgage Loan, after the occurrence and during the continuation of an AB Control
Appraisal Period, but prior to the occurrence and continuance of a Control Event)), with the consent of the Directing Certificateholder
at such time as it deems appropriate to release such Mortgaged Property from the lien of the related Mortgage, provided
that, if such Mortgage Loan has a then-outstanding principal balance of greater than $1,000,000, then prior to the release of
the related Mortgaged Property from the lien of the related Mortgage, (i) the Special Servicer shall have notified the Rating
Agencies, the Trustee, the Certificate Administrator, the Master Servicer and (prior to the occurrence of a Consultation Termination
Event) the Directing Certificateholder, in writing of its intention to so release such Mortgaged Property and the bases for such
intention, (ii) the Certificate Administrator shall have posted such notice of the Special Servicer’s intention to so release
such Mortgaged Property to the Certificate Administrator’s Website pursuant to Section 3.15(b) and (iii) in addition
to the prior written consent of the Directing Certificateholder as required above, the Holders of Certificates entitled to a majority
of the Voting Rights shall have consented or have been deemed to have consented to such release within thirty (30) days of the
Certificate Administrator’s posting such notice to the Certificate Administrator’s Website (failure to respond by
the end of such 30-day period being deemed consent of the Holders of the Certificates). To the extent any fee charged by any Rating
Agency in connection with rendering such written confirmation is not paid by the related Mortgagor, such fee is to be an expense
of the Trust; provided that the Special Servicer shall use commercially reasonable efforts to collect such fee from the
Mortgagor to the extent permitted under the related Mortgage Loan documents.

 

(e)          The
Special Servicer shall provide written reports and a copy of any Environmental Assessments in electronic format to the Directing
Certificateholder, the Master Servicer and the 17g-5 Information Provider monthly regarding any actions taken by the Special Servicer
with respect to any Mortgaged Property securing a Defaulted Mortgage Loan or defaulted Companion Loan as to which the environmental
testing contemplated in subsection (c) above has revealed that either of the conditions set forth in clauses (i)
and (ii) of the first sentence thereof has not been satisfied, in each case until the earlier to occur of satisfaction
of both such conditions, repurchase of the related Mortgage Loan by the applicable Mortgage Loan Seller or release of the lien
of the related Mortgage on such Mortgaged Property.

 

(f)           The
Special Servicer shall notify the Master Servicer of any abandoned and/or foreclosed properties which require reporting to the
Internal Revenue Service and shall provide the Master Servicer with all information regarding forgiveness of indebtedness and
required to be reported with respect to any Mortgage Loan or related Companion Loan that is abandoned or foreclosed and the Master
Servicer shall report to the Internal Revenue Service and the related Mortgagor, in the manner required by applicable law, such
information and the Master Servicer shall report, via Form 1099A or Form 1099C (or any successor form), all forgiveness of indebtedness
and abandonment and foreclosure to the extent such information has

 

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been provided to the Master Servicer by the Special Servicer.
Upon request, the Master Servicer shall deliver a copy of any such report to the Trustee and the Certificate Administrator.

 

(g)          The
Special Servicer shall have the right to determine, in accordance with the Servicing Standard, the advisability of the maintenance
of an action to obtain a deficiency judgment if the state in which the Mortgaged Property is located and the terms of the Mortgage
Loan (and if applicable, the Companion Loan) permit such an action.

 

(h)          The
Special Servicer shall maintain accurate records, prepared by one of its Servicing Officers, of each Final Recovery Determination
in respect of a Defaulted Mortgage Loan (other than with respect to a Non-Serviced Mortgage Loan) or defaulted Companion Loan
or any REO Property (other than any Non-Serviced Mortgaged Property) and the basis thereof. Each Final Recovery Determination
shall be evidenced by an Officer’s Certificate promptly delivered to the Trustee, the Certificate Administrator, the Directing
Certificateholder and the Master Servicer and in no event later than the next succeeding P&I Advance Determination Date.

 

Section
3.10     Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon
the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the
Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such
purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and
request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed
by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with
such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the
Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter
period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency)
of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special
Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related
Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid
in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to
the Certificate Account.

 

(b)          From
time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan)
(and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for
Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any
document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such
Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a
Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and,
in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be
received in connection with such liquidation which are required to be deposited into the Certificate Account (including
amounts related to the related

 

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Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so
deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the
Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being
released upon termination of the Trust.

 

(c)          Within
seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies
the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings,
requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged
Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing
a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided
by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the
preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall
be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee
and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee
will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of
the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.

 

(d)          If,
from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced
Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master
Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release
or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.

 

Section
3.11     Servicing Compensation. (a) As compensation for its activities hereunder, the
Master Servicer shall be entitled to receive the Servicing Fee with respect to each Mortgage Loan, Serviced Companion Loan
and REO Loan (other than the portion of any REO Loan related to any Non-Serviced Companion Loan) (including Specially
Serviced Mortgage Loans and any Non-Serviced Mortgage Loan constituting a “specially serviced mortgage loan”
under any related Non-Serviced Pooling Agreement). As to each Mortgage Loan, Companion Loan and REO Loan, the Servicing Fee
shall accrue from time to time at the Servicing Fee Rate and shall be computed on the basis of the Stated Principal Balance
of such Mortgage Loan, Companion Loan or REO Loan, as the case may be, and in the same manner as interest is calculated on
such Mortgage Loan, Companion Loan or REO Loan, as the case may be, and, in connection with any partial month interest
payment, for the same period respecting which any related interest payment due on such Mortgage Loan or Companion Loan or
deemed to be due on such REO Loan is computed. The Servicing Fee with respect to any Mortgage Loan, Companion Loan or REO
Loan shall cease to accrue if a Liquidation Event occurs with respect to the related Mortgage Loan, except that if such
Mortgage Loan is part of a Serviced Whole Loan and such Serviced Whole Loan continues to be serviced and administered under
this Agreement notwithstanding such Liquidation Event, then the applicable Servicing Fee shall continue to accrue and be
payable as if such Liquidation Event did not occur. The Servicing Fee

 

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shall be payable monthly, on a loan-by-loan basis, from
payments of interest on each Mortgage Loan, Companion Loan and REO Revenues allocable as interest on each REO Loan, and as
otherwise provided by Section 3.05(a). The Master Servicer shall be entitled to recover unpaid Servicing Fees in
respect of any Mortgage Loan, Companion Loan or REO Loan out of that portion of related payments, Insurance and Condemnation
Proceeds, Liquidation Proceeds and REO Revenues (in the case of an REO Loan) allocable as recoveries of interest, to the
extent permitted by Section 3.05(a). Except as set forth in the next two sentences, the third paragraph of
this Section 3.11(a), Section 6.02, Section 6.04 and Section 7.01(c), the right to receive the
Servicing Fee may not be transferred in whole or in part (except in connection with a transfer of all of the Master
Servicer’s duties and obligations hereunder to a successor servicer in accordance with the terms hereof). With respect
to each Serviced Pari Passu Companion Loan, the Servicing Fee shall be payable to the Master Servicer from amounts payable in
respect of such Serviced Pari Passu Companion Loan, subject to the terms of the related Intercreditor Agreement.

 

The
Master Servicer shall be entitled to retain, and shall not be required to deposit in the Certificate Account pursuant to Section
3.04(a), additional servicing compensation (other than with respect to a Non-Serviced Mortgage Loan) in the form of the following
amounts to the extent collected from the related Mortgagor: (i) 100% of Excess Modification Fees related to any modifications,
waivers, extensions or amendments of any Non-Specially Serviced Mortgage Loans (including any related Serviced Companion Loan,
to the extent not prohibited by the related Intercreditor Agreement); provided that with respect to such transactions,
the consent of the Special Servicer is not required to take such action and, in the event that the Special Servicer’s consent
is required, then the Master Servicer shall be entitled to 50% of such fees, (ii) 100% of all assumption application fees received
on Non-Specially Serviced Mortgage Loans (including any related Serviced Companion Loan, to the extent not prohibited by the related
Intercreditor Agreement) (whether or not the consent of the Special Servicer is required) and 100% of all defeasance fees (provided,
that for the avoidance of doubt, any such defeasance fee shall not include any Modification Fees or waiver fees in connection
with a defeasance that the Special Servicer is entitled to under this Agreement); (iii) 100% of assumption, waiver, consent and
earnout fees, and other processing fees pursuant to Section 3.08 and Section 3.20 or other actions performed in
connection with this Agreement on the Non-Specially Serviced Mortgage Loans (including any related Serviced Companion Loan, to
the extent not prohibited by the related Intercreditor Agreement), provided the consent of the Special Servicer is not
required to take such actions and (iv) 50% of all assumption, waiver, consent and earnout fees, and other processing fees (other
than assumption application fees and defeasance fees), pursuant to Section 3.08 and Section 3.20 on any Non-Specially
Serviced Mortgage Loan (including any related Serviced Companion Loan, to the extent not prohibited by the related Intercreditor
Agreement) for which the Special Servicer’s consent or approval is required on the Non-Specially Serviced Mortgage Loans
and in each of clauses (i) through (iv), only to the extent that all amounts then due and payable with respect to the related
Mortgage Loan have been paid. In addition, the Master Servicer shall be entitled to retain as additional servicing compensation
(other than with respect to a Non-Serviced Mortgage Loan) any charges for processing Mortgagor requests, beneficiary statements
or demands, fees in connection with defeasance, if any, and other customary charges, and amounts collected for checks returned
for insufficient funds, in each case only to the extent actually paid by the related Mortgagor and shall not be required to deposit
such amounts in the Certificate Account or the Companion Distribution

 

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Account pursuant to Section 3.04(a) or Section
3.04(b), respectively. Subject to Section 3.11(d), the Master Servicer shall also be entitled to additional servicing
compensation in the form of: (i) Penalty Charges to the extent provided in Section 3.11(d), (ii) interest or other income
earned on deposits relating to the Trust Fund in the Certificate Account or the Companion Distribution Account in accordance with
Section 3.06(b) (but only to the extent of the Net Investment Earnings, if any, with respect to such account for the period
from and including the prior Distribution Date to and including the P&I Advance Date related to the current Distribution Date),
(iii) interest or other income earned on deposits in the Servicing Account which are not required by applicable law or the related
Mortgage Loan to be paid to the Mortgagor and (iv) the difference, if positive, between Prepayment Interest Excess and Prepayment
Interest Shortfalls collected on the Mortgage Loans and any Serviced Pari Passu Companion Loan during the related Due Period to
the extent not required to be paid as Compensating Interest Payments. The Master Servicer shall be required to pay out of its
own funds all expenses incurred by it in connection with its servicing activities hereunder (including, without limitation, payment
of any amounts due and owing to any of its Sub-Servicers and the premiums for any blanket Insurance Policy insuring against hazard
losses pursuant to Section 3.07), if and to the extent such expenses are not payable directly out of the Certificate Account
and the Master Servicer shall not be entitled to reimbursement therefor except as expressly provided in this Agreement.

 

Notwithstanding
anything herein to the contrary, the Master Servicer may, at its option, assign or pledge to any third party or retain for itself
the Transferable Servicing Interest; provided, however, that in the event of any resignation or termination of such
Master Servicer, all or any portion of the Transferable Servicing Interest may be reduced by the Trustee to the extent reasonably
necessary (in the sole discretion of the Trustee) for the Trustee to obtain a qualified successor master servicer that meets the
requirements of Section 6.04 and who requires market-rate servicing compensation that accrues at a per annum rate
in excess of the Retained Fee Rate, and any such assignment of the Transferable Servicing Interest shall, by its terms be expressly
subject to the terms of this Agreement and such reduction. The Master Servicer shall pay the Transferable Servicing Interest to
the holder of the Transferable Servicing Interest at such time and to the extent the Master Servicer is entitled to receive payment
of its Servicing Fees hereunder, notwithstanding any resignation or termination of the Master Servicer hereunder (subject to reduction
pursuant to the preceding sentence).

 

(b)          As
compensation for its activities hereunder, the Special Servicer shall be entitled to receive the Special Servicing Fee with
respect to each Specially Serviced Mortgage Loan and REO Loan (other than a Non-Serviced Mortgage Loan and any REO Loan
relating to a Non-Serviced Mortgaged Property). As to each Specially Serviced Mortgage Loan and REO Loan, the Special
Servicing Fee shall accrue from time to time at the Special Servicing Fee Rate and shall be computed on the basis of the
Stated Principal Balance of such Specially Serviced Mortgage Loan or REO Loan, as the case may be, and in the same manner as
interest is calculated on the Specially Serviced Mortgage Loans or REO Loans, as the case may be, and, in connection with any
partial month interest payment, for the same period respecting which any related interest payment due on such Specially
Serviced Mortgage Loan or deemed to be due on such REO Loan is computed. The Special Servicing Fee with respect to any
Specially Serviced Mortgage Loan or REO Loan shall cease to accrue if a Liquidation Event occurs with respect to the related
Mortgage Loan. The Special Servicing Fee shall be payable monthly, on a loan-by-loan basis, in accordance with the provisions
of Section 3.05(a). The right to receive the

 

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Special Servicing Fee may not be transferred in whole or in part except
in connection with the transfer of all of the Special Servicer’s responsibilities and obligations under this Agreement.
The Special Servicer shall not be entitled to any Special Servicing Fees with respect to a Non-Serviced Mortgage
Loan.

 

(c)          Additional
servicing compensation in the form of (i) 100% of all Excess Modification Fees related to modifications, waivers, extensions
or amendments of any Specially Serviced Mortgage Loans, (ii) 100% of all assumption application fees and assumption fees and
other related fees received on any Specially Serviced Mortgage Loans, (iii) 100% of waiver, consent and earnout fees,
pursuant to Section 3.08 and Section 3.20 or other actions performed in connection with this Agreement on the
Specially Serviced Mortgage Loans or certain other similar fees paid by the related Mortgagor and (iv) 50% of all Excess
Modification Fees and assumption and consent fees pursuant to Section 3.08 or Section 3.20 and 50% of all
earnout fees received with respect to all Non-Specially Serviced Mortgage Loans (including any related Serviced Companion
Loan, to the extent not prohibited by the related Intercreditor Agreement) and, in all cases, for which the Special
Servicer’s consent or approval is required, shall be promptly paid to the Special Servicer by the Master Servicer (or
directly from the related Mortgagor) in each of clauses (i) through (iv) to the extent such fees are paid by the Mortgagor
and shall not be required to be deposited in the Certificate Account pursuant to Section 3.04(a). Subject to Section
3.11(d), the Special Servicer shall also be entitled to additional servicing compensation in the form of: (i) Penalty
Charges to the extent provided in Section 3.11(d) and (ii) interest or other income earned on deposits relating to the
Trust Fund in the REO Account in accordance with Section 3.06(b) (but only to the extent of the Net Investment
Earnings, if any, with respect to such account for the period from and including the prior Distribution Date to and including
the P&I Advance Date related to such Distribution Date). The Special Servicer shall also be entitled to additional
servicing compensation in the form of a Workout Fee with respect to each Corrected Mortgage Loan at the Workout Fee Rate on
such Corrected Mortgage Loan for so long as it remains a Corrected Mortgage Loan; provided, however, that after
receipt by the Special Servicer of Workout Fees with respect to such Corrected Mortgage Loan in an amount equal to $25,000,
any Workout Fees in excess of such amount shall be reduced by the Excess Modification Fee Amount; provided, further, however,
that in the event the Workout Fee collected over the course of such workout calculated at the Workout Fee Rate is less than
$25,000, then the Special Servicer shall be entitled to an amount from the final payment on the related Corrected Mortgage
Loan (including any related Serviced Companion Loan) that would result in the total Workout Fees payable to the
Special Servicer in respect of that Corrected Mortgage Loan (including any related Serviced Companion Loan) to be $25,000.
The Workout Fee shall be reduced (but not below zero) pursuant to the preceding sentence with respect to each collection on
such Corrected Mortgage Loan from which such fee would otherwise be payable until an amount equal to such Excess Modification
Fee Amount has been deducted in full. The Workout Fee with respect to any Corrected Mortgage Loan will cease to be payable if
such loan again becomes a Specially Serviced Mortgage Loan; provided that a new Workout Fee will become payable if and
when such Specially Serviced Mortgage Loan again becomes a Corrected Mortgage Loan. The Special Servicer shall not be
entitled to any Workout Fee with respect to a Non-Serviced Mortgage Loan. If the Special Servicer is terminated (other than
for cause) or resigns, it shall retain the right to receive any and all Workout Fees payable in respect of Mortgage Loans or
any related Companion Loan that became Corrected Mortgage Loans prior to the time of that termination or resignation except
the Workout Fees will no longer be payable if

 

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the Corrected Mortgage Loan subsequently becomes a Specially Serviced Mortgage
Loan. If the Special Servicer resigns or is terminated (other than for cause), it will receive any Workout Fees payable on
Specially Serviced Mortgage Loans for which the resigning or terminated Special Servicer had determined to grant a
forbearance or cured the event of default through a modification, restructuring or workout negotiated by the Special Servicer
and evidenced by a signed writing, but which had not as of the time the Special Servicer resigned or was terminated become a
Corrected Mortgage Loan solely because the Mortgagor had not had sufficient time to make three consecutive timely Monthly
Payments and which subsequently becomes a Corrected Mortgage Loan as a result of the Mortgagor making such three consecutive
timely Monthly Payments. The successor special servicer will not be entitled to any portion of such Workout Fees. The Special
Servicer will not be entitled to receive any Workout Fees after termination for cause. A Liquidation Fee will be payable with
respect to each Specially Serviced Mortgage Loan (other than a Non-Serviced Mortgage Loan) or REO Property (other than a
Non-Serviced Mortgaged Property) as to which the Special Servicer receives any Liquidation Proceeds or Insurance and
Condemnation Proceeds subject to the exceptions set forth in the definition of Liquidation Fee (such Liquidation Fee to be
paid out of such Liquidation Proceeds, Insurance and Condemnation Proceeds). If, however, Liquidation Proceeds or
Insurance and Condemnation Proceeds are received with respect to any Corrected Mortgage Loan and the Special Servicer is
properly entitled to a Workout Fee, such Workout Fee will be payable based on and out of the portion of such Liquidation
Proceeds and Insurance and Condemnation Proceeds that constitute principal and/or interest on such Mortgage Loan.
Notwithstanding anything herein to the contrary, the Special Servicer shall only be entitled to receive a Liquidation Fee or
a Workout Fee, but not both, with respect to proceeds on any Mortgage Loan. Notwithstanding the foregoing, with respect to
any Companion Loan, the Liquidation Fee, Workout Fee and Special Servicing Fees, if any, will be computed as provided in the
related Intercreditor Agreement or to the extent such Intercreditor Agreement is silent or refers to this Agreement or
indicates such fees are paid in accordance with this Agreement, as provided herein as though such Companion Loan were a
Mortgage Loan. Subject to Section 3.11(d), the Special Servicer will also be entitled to additional fees in the form
of Penalty Charges. The Special Servicer shall be required to pay out of its own funds all expenses incurred by it in
connection with its servicing activities hereunder (including, without limitation, payment of any amounts, other than
management fees in respect of REO Properties, due and owing to any of its Sub-Servicers and the premiums for any blanket
Insurance Policy obtained by it insuring against hazard losses pursuant to Section 3.07), if and to the extent such
expenses are not expressly payable directly out of the Certificate Account or the REO Account, and the Special Servicer shall
not be entitled to reimbursement therefor except as expressly provided in this Agreement.

 

(d)          In
determining the compensation of the Master Servicer or Special Servicer, as applicable, with respect to Penalty Charges, on
any Distribution Date, the aggregate Penalty Charges collected on any Mortgage Loan (other than a Non-Serviced Mortgage
Loan), and any related Companion Loan since the prior Distribution Date shall be applied (in such order) to reimburse (i) the
Master Servicer, the Special Servicer or the Trustee for interest on Advances on such Mortgage Loan or related Companion
Loan, if applicable (and, in connection with a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer, the
applicable Non-Serviced Special Servicer or the applicable Non-Serviced Trustee for interest on the Servicing Advances made
by any such party with respect to a Non-Serviced Whole Loan pursuant to the applicable Non-Serviced Pooling Agreement, to the
extent not prohibited by the

 

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applicable Non-Serviced Intercreditor Agreement) due on such Distribution Date, (ii) the Trust
Fund for all interest on Advances previously paid to the Master Servicer or the Trustee pursuant to Section
3.05(a)(vi) hereof (and, in connection with a Non-Serviced Mortgage Loan, the related trust for all interest on Servicing
Advances reimbursed by such trust to any party under the applicable Non-Serviced Pooling Agreement, which resulted in an
additional trust fund expense for the trust, to the extent not prohibited by the applicable Non-Serviced Intercreditor
Agreement) with respect to such Mortgage Loan or related Companion Loan, if applicable and (iii) the Trust Fund for costs of
all additional Trust Fund expenses (other than Special Servicing Fees, Workout Fees and Liquidation Fees), including without
limitation, inspections by the Special Servicer and all unpaid Advances incurred since the Closing Date with respect to such
Mortgage Loan. Penalty Charges (other than with respect to a Non-Serviced Mortgage Loan, which shall be payable as additional
servicing compensation under the related Non-Serviced Pooling Agreement) remaining thereafter shall be distributed to the
Master Servicer, if and to the extent accrued while such Mortgage Loan and any related Companion Loan was a Non-Specially
Serviced Mortgage Loan, and to the Special Servicer, if and to the extent accrued on such Mortgage Loan during the period
such Mortgage Loan was a Specially Serviced Mortgage Loan or REO Loan. Any Penalty Charges paid or payable as
additional servicing compensation to the Master Servicer and the Special Servicer shall be distributed between the Master
Servicer and the Special Servicer, on a pro rata basis, based on the Master Servicer’s and Special
Servicer’s respective entitlements to such compensation described in the previous sentence. Notwithstanding the
foregoing, Penalty Charges with respect to any Companion Loan will be allocated pursuant to the applicable Intercreditor
Agreement after payment of all related Advances and interest thereon and additional Trust Fund expenses in accordance with
this Section 3.11(d).

 

(e)          With
respect to each Distribution Date, the Special Servicer shall deliver or cause to be delivered to the Master Servicer within two
(2) Business Days following the Determination Date, and the Master Servicer shall deliver, to the extent it has received, to the
Certificate Administrator, without charge and on the same day as the Master Servicer is required to deliver the CREFC®
Investor Reporting Package (IRP) for such Distribution Date, an electronic report (which may include HTML, word or excel
compatible format, clean and searchable PDF format or such other format as mutually agreeable between the Certificate Administrator
and the Special Servicer) that discloses and contains an itemized listing of any Disclosable Special Servicer Fees received by
the Special Servicer or any of its Affiliates, if any, with respect to such Distribution Date; provided that no such report
shall be due in any month during which no Disclosable Special Servicer Fees were received.

 

(f)          The
Special Servicer and its Affiliates shall be prohibited from receiving or retaining any compensation or any other
remuneration (including, without limitation, in the form of commissions, brokerage fees, rebates, or as a result of any other
fee-sharing arrangement) from any Person (including, without limitation, the Trust, any Mortgagor, any property manager, any
guarantor or indemnitor in respect of a Mortgage Loan and any purchaser of any Mortgage Loan or REO Property) in connection
with the disposition, workout or foreclosure of any Mortgage Loan, the management or disposition of any REO Property, or the
performance of any other special servicing duties under this Agreement, other than as expressly provided in this Section
3.11; provided that such prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.

 

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(g)          Pursuant
to the CREFC® License Agreement, CREFC® shall be paid (according to the payment instructions set
forth on Exhibit JJ hereto or such other payment instructions as CREFC® may provide to the Master Servicer
in writing at least two (2) Business Days prior to the Remittance Date) the CREFC® Intellectual Property Royalty
License Fee on a monthly basis. The Master Servicer shall withdraw from the Certificate Account and, to the extent sufficient
funds are on deposit therein, pay the CREFC® Intellectual Property Royalty License Fee to CREFC® in
accordance with Section 3.05(a)(xii) on a monthly basis, from funds on deposit in the Certificate Account.

 

Section
3.12     Inspections; Collection of Financial Statements. (a) The Master Servicer shall
perform (at its own expense), or shall cause to be performed (at its own expense), a physical inspection of each Mortgaged
Property relating to a Mortgage Loan (other than a Non-Serviced Mortgage Loan or a Specially Serviced Mortgage Loan) with a
Stated Principal Balance of (i) $2,000,000 or more at least once every twelve (12) months and (ii) less than $2,000,000 at
least once every twenty-four (24) months, in each case, commencing in the calendar year 2016 (and each Mortgaged Property
shall be inspected on or prior to December 31, 2017); provided, however, that if a physical inspection has been
performed by the Special Servicer in the previous twelve (12) months and the Master Servicer has no knowledge of a material
change in the Mortgaged Property since such physical inspection, the Master Servicer will not be required to perform or cause
to be performed, such physical inspection; provided, further, that if any scheduled payment becomes more than
sixty (60) days delinquent on the related Mortgage Loan, the Special Servicer shall inspect or cause to be inspected the
related Mortgaged Property as soon as practicable after such Mortgage Loan becomes a Specially Serviced Mortgage Loan and
annually thereafter for so long as such Mortgage Loan remains a Specially Serviced Mortgage Loan. The cost of such inspection
by the Special Servicer pursuant to the second proviso of the immediately preceding sentence shall be an expense of the Trust
Fund, and, to the extent not paid by the related Mortgagor, reimbursed first from Penalty Charges actually received
from the related Mortgagor and then from the Certificate Account pursuant to Section 3.05(a)(ii), provided
that, with respect to a Serviced Whole Loan, such cost shall be payable, subject to the terms of the related Intercreditor
Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related
Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective outstanding
principal balances, or (ii) with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion
Loan and then, from the related Serviced AB Mortgage Loan (provided that, with respect to any AB Subordinate
Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related Intercreditor Agreement pursuant
to which any amounts collected with respect to the related Serviced Whole Loan are allocated to the related Serviced Mortgage
Loan and AB Subordinate Companion Loan), in each case, prior to being payable out of general collections. The Special
Servicer or the Master Servicer, as applicable, shall prepare or cause to be prepared a written report of each such
inspection detailing the condition of and any damage to the Mortgaged Property to the extent evident from the inspection and
specifying the existence of (i) any vacancy in the Mortgaged Property that the preparer of such report has knowledge of and
deems material, (ii) any sale, transfer or abandonment of the Mortgaged Property of which the preparer of such report has
knowledge or that is evident from the inspection, (iii) any adverse change in the condition of the Mortgaged Property of
which the preparer of such report has knowledge or that is evident from the inspection, and that the preparer of such report
deems material, (iv) any visible material waste committed on the

 

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Mortgaged Property of which the preparer of such report has
knowledge or that is evident from the inspection and (v) photographs of each inspected Mortgaged Property. The Special
Servicer and the Master Servicer shall deliver a copy (in electronic format) of each such report prepared by the Special
Servicer and the Master Servicer, respectively, to the other party, to the Directing Certificateholder (prior to the
occurrence and continuance of a Control Event) and to the Trustee within five (5) Business Days after completion of such
report. Within five (5) Business Days after request for copies of such reports by the Rating Agencies, the Special Servicer
or the Master Servicer, as applicable, shall deliver a copy (in electronic format) of each such report prepared by the
Special Servicer and the Master Servicer, as applicable, to the 17g-5 Information Provider for posting to the 17g-5
Information Provider’s Website. Prior to the occurrence of a Consultation Termination Event, the Master Servicer shall
deliver a copy of each such report to the Directing Certificateholder and upon request to each Holder of a Class E, Class F
or Class NR Certificate (which such request may state that such items may be delivered until further notice).

 

(b)          [Reserved.]

 

(c)          The
Special Servicer, in the case of any Specially Serviced Mortgage Loan, and the Master Servicer, in the case of any
Non-Specially Serviced Mortgage Loan (other than any Non-Serviced Mortgage Loans) shall make reasonable efforts to collect
promptly and review from each related Mortgagor quarterly and annual operating statements, financial statements, budgets and
rent rolls of the related Mortgaged Property, and the quarterly and annual financial statements of such Mortgagor, whether or
not delivery of such items is required pursuant to the terms of the related Mortgage Loan documents and any other reports or
documents required to be delivered under the terms of the Mortgage Loans (and each Serviced Companion Loan), if delivery of
such items is required pursuant to the terms of the related Mortgage Loan (and each Serviced Companion Loan) documents. The
Master Servicer and the Special Servicer shall not be required to request such operating statements or rent rolls more than
once if the related Mortgagor is not required to deliver such statements pursuant to the terms of the Mortgage Loan
documents. In addition, the Special Servicer shall cause quarterly and annual operating statements, budgets and rent rolls to
be regularly prepared in respect of each REO Property and shall collect all such items promptly following their preparation.
The Special Servicer shall deliver all such items to the Master Servicer within five (5) Business Days of receipt, and the
Master Servicer and the Special Servicer, as applicable, shall deliver copies of all the foregoing items so collected to the
Trustee, the Certificate Administrator, the Directing Certificateholder, each Companion Holder (if they relate to the related
Serviced Whole Loan or any portion thereof or any related REO Property) or Other Servicer for a related securitization trust
in respect of any Serviced Companion Loan and the Depositor, in electronic format, in each case within sixty (60) days of its
receipt thereof, but in no event, in the case of annual statements, later than June 30 of each year commencing June 30, 2016.
Upon the request of any Privileged Person (other than the NRSROs) to receive copies of such items, the Master Servicer or the
Special Servicer, as applicable, shall deliver electronic copies of such items to the Certificate Administrator to be posted
on the Certificate Administrator’s Website. The Master Servicer or Special Servicer, as applicable, shall deliver
copies of all the foregoing items so collected thereby to the 17g-5 Information Provider pursuant to Section
3.15(c).

 

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Within
forty-five (45) days after receipt by the Master Servicer, with respect to all Non-Specially Serviced Mortgage Loans it is responsible
for servicing hereunder, or the Special Servicer with respect to Specially Serviced Mortgage Loans and REO Properties (other than
any Non-Serviced Mortgaged Property), of any quarterly and annual operating statements or rent rolls beginning with the quarter
ending September 30, 2015 and the calendar year ending December 31, 2015 with respect to any Mortgaged Property or REO Property,
or if such date would be after June 30 of any year, then within thirty (30) days after receipt, such Master Servicer or Special
Servicer, as applicable, shall, based upon such operating statements or rent rolls received, prepare (or, if previously prepared,
update) the analysis of operations and the CREFC® NOI Adjustment Worksheet and the CREFC® Operating
Statement Analysis Report; provided that any such CREFC® Operating Statement Analysis Report and/or CREFC®
NOI Adjustment Worksheet shall not be required to be prepared or updated with respect to year-end or the first calendar
quarter of each year to the extent provided by the then current CREFC® IRP. Upon the occurrence and continuation
of a Servicing Transfer Event, the Master Servicer shall provide the Special Servicer with all prior CREFC® Operating
Statement Analysis Reports and CREFC® NOI Adjustment Worksheets for the related Mortgage Loan (including underwritten
figures), and the Special Servicer’s obligations hereunder shall be subject to its having received all such reports. The
Master Servicer and Special Servicer shall forward to the other and (prior to the occurrence of a Consultation Termination Event)
the Directing Certificateholder electronically monthly all operating statements and rent rolls received from any Mortgagor from
the prior month. All CREFC® Operating Statement Analysis Reports and CREFC® NOI Adjustment Worksheets
shall be maintained by the Master Servicer with respect to each Mortgaged Property (other than a Non-Serviced Mortgaged Property)
and REO Property (other than any Non-Serviced Mortgaged Property), and the Master Servicer shall forward copies (in electronic
format) thereof and the related operating statements or rent rolls (in each case, promptly following the initial preparation and
each material revision thereof) to the Certificate Administrator, the Directing Certificateholder, and with respect to any Serviced
Companion Loan, the related Companion Holder, the Special Servicer and the 17g-5 Information Provider, and the 17g-5 Information
Provider shall post all such items to the 17g-5 Information Provider’s Website. The Master Servicer shall maintain a CREFC®
Operating Statement Analysis Report and a CREFC® NOI Adjustment Worksheet with respect to each Mortgaged
Property (other than a Non-Serviced Mortgaged Property) or REO Property (other than a Non-Serviced Mortgaged Property).

 

(d)          At
or before 2:00 p.m. (New York City time) on each Determination Date, the Special Servicer shall prepare and deliver or cause
to be delivered to the Master Servicer, each Companion Holder (if they relate to the related Serviced Whole Loan or any
portion thereof or any related REO Property) and, prior to the occurrence of a Consultation Termination Event, the Directing
Certificateholder, the CREFC® Special Servicer Loan File and any applicable CREFC® Loan
Liquidation Reports, CREFC® Loan Modification Reports and CREFC® REO Liquidation Reports with
respect to the Specially Serviced Mortgage Loans and any REO Properties (other than a Non-Serviced Mortgaged Property),
providing the information required of the Special Servicer in an electronic format, reasonably acceptable to the Master
Servicer or other recipient as of the Business Day preceding such Determination Date, which CREFC® Special
Servicer Loan File shall include data, to enable the Master Servicer to produce the following supplemental
CREFC® reports: (i) a CREFC® Delinquent Loan Status Report, (ii) a CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report, (iii) a CREFC®

 

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REO Status Report, (iv) a
CREFC® Comparative Financial Status Report and (v) a CREFC® NOI Adjustment Worksheet and a
CREFC® Operating Statement Analysis Report, in each case with the supporting financial statements, budgets,
operating statements and rent rolls submitted by the Mortgagor.

 

(e)          Not
later than 5:00 p.m. (New York City time) on the P&I Advance Date beginning July 2015, the Master Servicer shall prepare (if
and to the extent necessary) and deliver or cause to be delivered in electronic format to the Certificate Administrator and, to
the extent related to a Serviced Whole Loan or any portion thereof or any related REO Property, the related Companion Holder the
following reports and data files: (A) to the extent the Master Servicer has received the CREFC® Special Servicer
Loan File at the time required, the most recent CREFC® Delinquent Loan Status Report, CREFC® Historical
Loan Modification and Corrected Mortgage Loan Report and the CREFC® REO Status Report, (B) CREFC®
Loan Setup File (with respect to the first Distribution Date), (C) the most recent CREFC® Property File, and CREFC®
Comparative Financial Status Report (in each case incorporating the data required to be included in the CREFC®
Special Servicer Loan File pursuant to Section 3.12(d) by the Special Servicer and Master Servicer), (D) a CREFC®
Servicer Watch List with information that is current as of such Determination Date, (E) CREFC® Financial
File, (F) CREFC® Loan Level Reserve/LOC Report, (G) the CREFC® Advance Recovery Report, (H) CREFC®
Total Loan Report and (I) the report on Disclosable Special Servicer Fees delivered pursuant to Section 3.11(e) to
the extent received from the Special Servicer, if any. Additionally, not later than 5:00 p.m. (New York City time) on the P&I
Advance Date beginning July 2015, the Master Servicer shall deliver or cause to be delivered in electronic format to the Certificate
Administrator and, to the extent related to a Serviced Whole Loan or any portion thereof or any related REO Property, the related
Companion Holder any applicable CREFC® Loan Liquidation Reports, CREFC® Loan Modification Reports
and CREFC® REO Liquidation Reports received from the Special Servicer. Not later than 2:00 p.m. (New York City
time) two (2) Business Days prior to the Distribution Date beginning July 2015, the Master Servicer shall deliver or cause to
be delivered to the Certificate Administrator and, to the extent related to a Serviced Whole Loan or any portion thereof or any
related REO Property, the related Companion Holder via electronic format the CREFC® Loan Periodic Update File.
In no event shall any report described in this subsection be required to reflect information that has not been collected by or
delivered to the Master Servicer, or any payments or collections not received by the Master Servicer, as of the close of business
on the Business Day prior to the Business Day on which the report is due.

 

(f)          The
Special Servicer shall deliver to the Master Servicer the reports and information required of the Special Servicer pursuant
to Section 3.12(c) and Section 3.12(d), and the Master Servicer shall deliver to the Certificate Administrator
the reports and data files set forth in Section 3.12(e). The Master Servicer may, absent manifest error, conclusively
rely on the reports and/or data to be provided by the Special Servicer pursuant to Section 3.12(c) and Section
3.12(d). The Certificate Administrator may, absent manifest error, conclusively rely on the reports and/or data to be
provided by the Master Servicer pursuant to Section 3.12(e). In the case of information or reports to be furnished by
the Master Servicer to the Certificate Administrator pursuant to Section 3.12(e), to the extent that such information
or reports are, in turn, based on information or reports to be provided by the Special Servicer pursuant to Section
3.12(c) or Section 3.12(d) and to the extent that such reports are to be prepared and delivered by the Special
Servicer pursuant to Section 3.12(c) or Section 3.12(d), the Master

 

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Servicer shall have no obligation to
provide such information or reports to the Certificate Administrator until it has received the requisite information or
reports from the Special Servicer, and the Master Servicer shall not be in default hereunder due to a delay in providing the
reports required by Section 3.12(e) caused by the Special Servicer’s failure to timely provide any information
or report required under Section 3.12(c) or Section 3.12(d) of this Agreement.

 

(g)          Notwithstanding
the foregoing, however, the failure of the Master Servicer or Special Servicer to disclose any information otherwise required
to be disclosed by this Section 3.12 shall not constitute a breach of this Section 3.12 to the extent the Master
Servicer or Special Servicer so fails because such disclosure, in the reasonable belief of the Master Servicer or the Special
Servicer, as the case may be, would violate any applicable law or any provision of a Mortgage Loan document prohibiting disclosure
of information with respect to the Mortgage Loans or Mortgaged Properties. The Master Servicer and Special Servicer may disclose
any such information or any additional information to any Person so long as such disclosure is consistent with applicable law
and the Servicing Standard. The Master Servicer or the Special Servicer may affix to any information provided by it any disclaimer
it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).

 

(h)          Unless
otherwise specifically stated herein, if the Master Servicer or the Special Servicer is required to deliver any statement, report
or information under any provisions of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may satisfy
such obligation by (x) physically delivering a paper copy of such statement, report or information, (y) delivering such statement,
report or information in a commonly used electronic format or (z) except with respect to information to be provided to the Certificate
Administrator or any Companion Holder and, prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder,
making such statement, report or information available on the Master Servicer’s or the Special Servicer’s Internet
website, unless this Agreement expressly specifies a particular method of delivery.

 

Notwithstanding
anything to the contrary in the foregoing, the Master Servicer and the Special Servicer shall deliver any required statements,
reports or other information to the Certificate Administrator in an electronic format mutually agreeable to the Certificate Administrator
and the Master Servicer or the Special Servicer, as the case may be. The Master Servicer or the Special Servicer may physically
deliver a paper copy of any such statement, report or information as a temporary measure due to system problems, however, copies
in electronic format shall follow upon the correction of such system problems.

 

Section
3.13     [Reserved.]

 

Section
3.14     [Reserved.]

 

Section
3.15     Access to Certain Information. (a) Each of the Master Servicer and the Special Servicer
shall provide or cause to be provided to the Certificate Administrator, and the Certificate Administrator shall afford access
to any Mortgage Loan Seller and to any Certificateholder that is a federally insured financial institution, the OCC, the FDIC,
the Board of Governors of the Federal Reserve System of the United States of America and the supervisory agents and examiners
of such boards and such corporations, and any other federal or state

 

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banking or insurance regulatory authority that may exercise
authority over any such Certificateholder, and to each Holder of a Non-Registered Certificate, access to any documentation or
information regarding the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and, in the case of a Mortgage Loan that
is a portion of a Serviced Whole Loan, the related Companion Loan, and the Trust Fund within its control which may be required
by applicable law. At the election of the Master Servicer, the Special Servicer or the Certificate Administrator, such access
may be afforded to such Person identified above by the delivery of copies of information as requested by such Person and the Master
Servicer, the Special Servicer or the Certificate Administrator shall be permitted to require payment (other than from the Directing
Certificateholder and the Trustee and the Certificate Administrator on its own behalf or on behalf of the Certificateholders,
as applicable) of a sum sufficient to cover the reasonable out-of-pocket costs incurred by it in making such copies. Such access
shall (except as described in the preceding sentence) be afforded without charge but only upon reasonable prior written request
and during normal business hours at the offices of the Certificate Administrator or the Custodian.

 

The
failure of the Master Servicer or Special Servicer to provide access as provided in this Section 3.15 as a result of
a confidentiality obligation shall not constitute a breach of this Section 3.15. In connection with providing
information pursuant to this Section 3.15, the Master Servicer and Special Servicer may each (i) affix a reasonable
disclaimer to any information provided by it for which it is not the original source (without suggesting liability on the
part of any other party hereto); (ii) affix to any information provided by it a reasonable statement regarding securities law
restrictions on such information and/or condition access to information on (x) the execution of a confidentiality agreement
substantially in the form of Exhibit X, or (y) execution of a “click-through” confidentiality agreement if
such information is being provided through the Master Servicer’s or Special Servicer’s website; (iii) withhold
access to confidential information or any intellectual property; and/or (iv) withhold access to items of information
contained in the Servicing File for any Mortgage Loan if the disclosure of such items is prohibited by applicable law or the
provisions of any related Mortgage Loan documents or would constitute a waiver of the attorney-client privilege.
Notwithstanding any provision of this Agreement to the contrary, the failure of the Master Servicer or the Special Servicer
to disclose any information otherwise required to be disclosed by it pursuant to this Agreement shall not constitute a breach
of this Agreement to the extent that the Master Servicer or the Special Servicer, as the case may be, determines, in its
reasonable good faith judgment consistent with the applicable Servicing Standard, that such disclosure would violate
applicable law or any provision of a Mortgage Loan or Companion Loan document prohibiting disclosure of information
with respect to the Mortgage Loans or Companion Loans or the Mortgaged Properties, constitute a waiver of the attorney-client
privilege on behalf of the Trust or the Trust Fund or otherwise materially harm the Trust or the Trust Fund. Without limiting
the generality of the foregoing, the Master Servicer or Special Servicer may refrain from disclosing information that it
reasonably determines would prejudice the interest of the Certificateholders with respect to a workout or exercise of
remedies as to any particular Mortgage Loan.

 

Upon
the reasonable request of any Certificateholder (or with respect to any AB Subordinate Companion Loan related to a Serviced AB
Whole Loan, the holder of such AB Subordinate Companion Loan) that is a Privileged Person identified to the Master Servicer’s

 

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reasonable satisfaction, the Master Servicer may provide (or forward electronically) (at the expense of such Certificateholder
or holder of such AB Subordinate Companion Loan, as applicable) copies of any appraisals, operating statements, rent rolls and
financial statements (in each case, solely relating to the related Serviced Whole Loan, if requested by the holder of an AB Subordinate
Companion Loan) obtained by the Master Servicer; provided that, in connection therewith, the Master Servicer may require
a written confirmation executed by the requesting Person substantially in such form as may be reasonably acceptable to the Master
Servicer, generally to the effect that such Person is a Holder of Certificates, a beneficial holder of Book-Entry Certificates
(or an investment advisor for a Certificateholder or beneficial holder of Book-Entry Certificates) or holder of such AB Subordinate
Companion Loan and a Privileged Person and will keep such information confidential and shall use such information only for the
purpose of analyzing asset performance and evaluating any continuing rights the Certificateholder or holder of such AB Subordinate
Companion Loan, as applicable, may have under the Trust.

 

(b)          The
Certificate Administrator shall make available to Privileged Persons (provided that the Prospectus Supplement, Statements
to Certificateholders and the SEC EDGAR filings referred to below will be available to the general public) via the Certificate
Administrator’s Website, the following items, in each case, to the extent such items were prepared by or delivered to the
Certificate Administrator in electronic format:

 

(i)           The
following documents, which will initially be made available under a tab or heading designated “deal documents”:

 

(A)          the
Prospectus Supplement and Prospectus and any other disclosure document relating to the Offered Certificates, in the form most
recently provided to the Certificate Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)          this
Agreement and any amendments and exhibits hereto; and

 

(C)          the
CREFC® Loan Setup File provided by the Master Servicer to the Certificate Administrator;

 

(ii)          the
following documents, which will initially be made available under a tab or heading designated “SEC EDGAR filings”;

 

(A)         any
reports on Forms 10-D, 10-K and 8-K that have been filed by the Certificate Administrator with respect to the Trust through the
EDGAR system;

 

(iii)         The
following documents, which will initially be made available under a tab or heading designated “periodic reports”:

 

(A)         all
Statements to Certificateholders prepared by the Certificate Administrator pursuant to Section 4.02;

 

(B)         the
CREFC® Loan Periodic Update File, the CREFC® Bond Level File, the CREFC® Collateral
Summary File, the CREFC® Property File, each of the

 

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“surveillance reports” identified as such in the
definition of “CREFC® Investor Reporting Package” (including, without limitation, the CREFC®
Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheets), the CREFC®
Advance Recovery Report to the extent delivered by the Master Servicer pursuant to this Agreement from time to time; and

 

(C)          all
Senior Trust Advisor Annual Reports;

 

(iv)         The
following documents, which will initially be made available under a tab or heading designated “additional documents”:

 

(A)         summaries
of Final Asset Status Reports or, prior to an AB Control Appraisal Period, summaries of Asset Status Reports approved by the holder
of the related Companion Loan, and related information delivered to the Certificate Administrator pursuant to Section 3.21(d);

 

(B)          all
property inspection reports delivered to the Certificate Administrator pursuant to Section 3.12(a); and

 

(C)          any
Appraisals delivered to the Certificate Administrator pursuant to Section 3.21;

 

(v)          The
following documents, which will initially be made available under a tab or heading designated “special notices”:

 

(A)         any
notice with respect to a release pursuant to Section 3.09(d);

 

(B)          any
notice regarding a waiver, modification or amendment of the terms of any Mortgage Loan pursuant to Section 3.20(h);

 

(C)          any
notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 4.01(h);

 

(D)          any
notice of the occurrence of any Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered
pursuant to Section 7.01;

 

(E)          any
notice of the termination of the Sub-Servicer delivered pursuant to Section 3.22(g);

 

(F)          any
notice of resignation of the Trustee or the Certificate Administrator, and any notice of the acceptance of appointment by the
successor trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(G)          any
Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

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(H)          any
notice of resignation or termination of the Master Servicer or Special Servicer pursuant to Section 7.03;

 

(I)            any
notice of termination pursuant to Section 9.01;

 

(J)            any
notice of resignation or termination of the Senior Trust Advisor and any notice of the acceptance of appointment by the successor
senior trust advisor pursuant to Section 3.31;

 

(K)          any
notice of recommendation of termination of the Special Servicer by the Senior Trust Advisor

 

(L)           any
notice that a Control Event has occurred or is terminated or that a Consultation Termination Event has occurred or is terminated;

 

(M)          any
assessments of compliance delivered to the Certificate Administrator; and

 

(N)           any
attestation reports delivered to the Certificate Administrator;

 

(vi)         the
“Investor Q&A Forum” pursuant to Section 4.08(a); and

 

(vii)        solely
to Certificateholders and Certificate Owners that are Privileged Persons, the “Investor Registry” pursuant to Section
4.08(b).

 

The
Certificate Administrator shall post on the Certificate Administrator’s Website the items and reports identified in clauses
(iii)(A) and (B) above on each Distribution Date. In addition, if the Depositor so directs the Certificate Administrator,
and on terms acceptable to the Certificate Administrator, the Certificate Administrator shall make certain other information and
reports related to the Mortgage Loans available through its Internet website.

 

The
Certificate Administrator makes no representations or warranties as to the accuracy or completeness of any report, document or
other information made available on its Internet website and assumes no responsibility therefor, other than with respect to such
reports, documents or other information prepared by the Certificate Administrator. In addition, the Certificate Administrator
may disclaim responsibility for any information distributed by it for which it is not the original source.

 

In
connection with providing access to the Certificate Administrator’s Website (other than with respect to access
provided to the general public in accordance with Section 3.15(b), the Certificate Administrator may require
registration and the acceptance of a disclaimer. The Certificate Administrator shall not be liable for the dissemination of
information in accordance herewith. Questions regarding the Certificate Administrator’s Website can be directed to the
Certificate Administrator’s CMBS customer service desk at (866) 846-4526.

 

(c)          The
17g-5 Information Provider shall make available solely to the Depositor and the NRSROs the following items to the extent such
items are delivered to it (in the form of an electronic document suitable for posting) via electronic mail at

 

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17g5informationprovider@wellsfargo.com,
specifically with a subject reference of “JPMBB 2015-C29” and an identification of the type of information being provided
in the body of such electronic mail; or via any alternative electronic mail address following notice to the parties hereto or
any other delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial:

 

(i)           any
notices of waivers under Section 3.08(d);

 

(ii)          any
Asset Status Report delivered by the Special Servicer under Section 3.21(d);

 

(iii)         any
notice of final payment on the Certificates;

 

(iv)         any
environmental reports delivered by the Special Servicer under Section 3.09(e);

 

(v)          any
Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.21;

 

(vi)         any
annual statements as to compliance and related Officer’s Certificates delivered under Section 11.09 or 11.10;

 

(vii)        any
annual independent public accountants’ attestation reports delivered pursuant to Section 11.11;

 

(viii)       any
notice to the Rating Agencies relating to the Special Servicer’s determination to take action without receiving Rating Agency
Confirmation from any Rating Agency as set forth in Section 3.30(a);

 

(ix)          copies
of requests or questions that were submitted by the Rating Agencies relating to a request for Rating Agency Confirmation;

 

(x)           any
requests for Rating Agency Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.30(a);

 

(xi)          any
notice of resignation of the Trustee or the Certificate Administrator and any notice of the acceptance of appointment by the successor
trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(xii)         any
Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(xiii)       any
notice of a Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered pursuant to Section
7.01;

 

(xiv)       any
notice of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09;

 

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(xv)        any
notice of any amendment that modifies the procedures herein relating to Rule 17g-5 of the Exchange Act pursuant to Section
12.01(a)(ix);

 

(xvi)       any
Senior Trust Advisor Annual Report pursuant to Section 3.31;

 

(xvii)      any
summary of oral communication with the Rating Agencies or any written question or request from the Rating Agencies directed toward
the Master Servicer, Special Servicer, Certificate Administrator or Trustee regarding any of the information delivered to the
17g-5 Information Provider pursuant to this Section 3.15(c) or regarding any request for a Rating Agency Confirmation or
regarding any of the Mortgage Loan documents or any matter related to the Certificates, Mortgage Loans or any related Companion
Loan, the related Mortgaged Properties, the related Mortgagors or any other matters related to this Agreement or any applicable
Intercreditor Agreement; provided that the summary of such oral communication shall not identify the Rating Agency with
whom the communication was held pursuant to Section 3.15(g);

 

(xviii)     any
other information delivered to the 17g-5 Information Provider pursuant to this Agreement including, without limitation, Section
2.03(b), Section 3.07(a), Section 3.12, Section 3.19(c), Section 3.20(h); Section 11.09
or Section 11.10; and

 

(xix)        any
other information delivered to the Rating Agencies pursuant to this Agreement including, without limitation, Section 12.10.

 

The
foregoing information shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s
Website. Information will be posted on the same Business Day of receipt provided that such information is received by
2:00 p.m., New York City time, or, if received after 2:00 p.m., New York City time, on the next Business Day by 12:00 p.m.
New York City time; provided, however, any information delivered pursuant to Section 3.15(d) shall be
posted in accordance with Section 3.15(d). The 17g-5 Information Provider shall have no obligation or duty to verify,
confirm or otherwise determine whether the information being delivered is accurate, complete, conforms to the transaction, or
otherwise is or is not anything other than what it purports to be. In the event that any information is delivered or posted
in error, each of the Certificate Administrator and the 17g-5 Information Provider may remove such information from the 17g-5
Information Provider’s Website. The Certificate Administrator and the 17g-5 Information Provider have not obtained and
shall not be deemed to have obtained actual knowledge of any information merely by posting such information to the
Certificate Administrator’s Website or the 17g-5 Information Provider’s Website to the extent such information
was not produced by the Certificate Administrator or the 17g-5 Information Provider, as applicable. Access will be provided
by the 17g-5 Information Provider to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit P-2
hereto (which certification may be submitted electronically via the 17g-5 Information Provider’s Website). If a Rating
Agency requests access to the 17g-5 Information Provider’s Website, access will be granted by the 17g-5 Information
Provider on the same Business Day provided such request is made prior to 2:00 p.m., New York City time on such Business Day,
or, if received after 2:00 p.m., New York City time, on the following Business Day. Questions regarding delivery of
information to the 17g-5 Information Provider may be directed to (866) 846-4526 or

 

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17g5informationprovider@wellsfargo.com (specifically referencing “JPMBB 2015-C29” in the subject
line).

 

Upon
request of the Depositor or the Rating Agencies, the 17g-5 Information Provider shall post on the 17g-5 Information Provider’s
Website any additional information requested by the Depositor or the Rating Agencies to the extent such information is delivered
to the 17g-5 Information Provider electronically in accordance with this Section 3.15. In no event shall the 17g-5 Information
Provider disclose on the 17g-5 Information Provider’s Website the Rating Agency that requested such additional information.

 

Except as provided in Section 3.15(d) below, theMaster Servicer or Special Servicer, as applicable, may, but shall not be obligated to send such information, report, notice or
document to the applicable Rating Agency so long as such information report or notice (i) was previously provided to the 17g-5
Information Provider or (ii) is simultaneously provided to the 17g-5 Information Provider.]

 

The
17g-5 Information Provider shall notify any party that delivers information to the 17g-5 Information Provider under this Agreement
that such information was received and that it has been posted. The 17g-5 Information Provider will notify each Person that has
signed up for access to the 17g 5 Information Provider’s Website in respect of the transaction governed by this Agreement
each time an additional document is posted to the 17g-5 Information Provider’s Website and such notice shall specifically
identify such document in the subject line or otherwise in the body of the email. The 17g-5 Information Provider will send such
notice to such Person’s email address provided by and used by such Person for the purpose of accessing the 17g-5 Information
Provider’s Website, including a general email address if such general email address has been provided to the 17g-5 Information
Provider in connection with a completed NRSRO Certification in the form of Exhibit P-2 hereto.

 

Any
information required to be delivered to the 17g-5 Information Provider by any party under this Agreement shall be delivered to
it via electronic mail at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “JPMBB 2015-C29”
and an identification of the type of information being provided in the body of such electronic mail, or via any alternative electronic
mail address following notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information
Provider.

 

(d)          The
Master Servicer or the Special Servicer, as applicable, may, but shall not be obligated to, provide bulk information that relates
to two or more transactions to the 17g-5 Information Provider. Any such information shall be posted by the 17g-5 Information Provider
and the 17g-5 Information Provider may, but shall not be obligated to post such information in accordance with the timeframe provided
in Section 3.15(c) above. The Master Servicer or the Special Servicer, as applicable, shall not send such information directly
to the Rating Agencies until the 17g-5 Information Provider notifies it that such information has been posted to the 17g-5 Information
Provider’s Website.

  

(e)          Certain
information concerning the Mortgage Loans and the Certificates (including the Statements to Certificateholders, CREFC®
reports and supplemental notices with respect to such Statements to Certificateholders and CREFC® reports) shall be
provided by the

 

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Certificate Administrator to third parties (including Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc., BlackRock
Financial Management Inc., Interactive Data Corporation, CMBS.com, Markit and Thomson Reuters Corporation) with the consent of
the Depositor, and providing such information shall not constitute a breach of this Agreement by the Certificate Administrator.
Such information will be made available to such third parties upon receipt of a certificate in the form of Exhibit P-3
hereto, which certification may be submitted electronically via the Certificate Administrator’s Website.

 

(f)          Each
of the Master Servicer and the Special Servicer may, in accordance with such reasonable rules and procedures as it may
adopt, also deliver, produce or otherwise make available through its website or otherwise, any additional information
relating to the Mortgage Loans (other than any Non-Serviced Mortgage Loan), any related Serviced Companion Loan, the
Mortgaged Properties (other than any Non-Serviced Mortgaged Property), or the related Mortgagors, for review by the
Depositor, the Underwriters and any other Persons who deliver an Investor Certification in accordance with this Section
3.15 and the Rating Agencies (collectively, the “Disclosure Parties”) (only to the extent such
additional information is simultaneously delivered to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website in accordance with the provisions of Section 3.15(c)), in each case, except to the extent
doing so is prohibited by this Agreement (including without limitation, any prohibitions on dissemination of any confidential
information, including, without limitation, any Privileged Information), applicable law or by the related Mortgage Loan
documents. Each of the Master Servicer and the Special Servicer shall be entitled to (i) indicate the source of such
information and affix thereto any disclaimer it deems appropriate in its discretion and/or (ii) require that the recipient of
such information (A) except for the Depositor and the Rating Agencies, enter into (x) an Investor Certification, (y) a
confidentiality agreement substantially in the form of Exhibit X or (z) a “click-through” confidentiality
agreement if such information is being provided through the Master Servicer’s or Special Servicer’s website, and
(B) acknowledge that the Master Servicer or the Special Servicer may contemporaneously provide such information to any other
Disclosure Party. In addition, to the extent access to such information is provided via the Master Servicer’s or the
Special Servicer’s website, the Master Servicer and the Special Servicer may require registration and the acceptance of
a reasonable and customary disclaimer and/or an additional or alternative agreement as to the confidential nature of such
information. In connection with providing access to or copies of the information described in this Section 3.15(f) to
current or prospective Certificateholders the form of confidentiality agreement used by the Master Servicer or the Special
Servicer, as applicable, shall be: (i) in the case of a Certificateholder, an Investor Certification executed by the
requesting Person indicating that such Person is a Holder of Certificates and will keep such information confidential (except
that such Certificateholder may provide such information (x) to its auditors, legal counsel and regulators and (y) to any
other Person that holds or is contemplating the purchase of any Certificate or interest therein (provided that such
other Person confirms in writing such ownership interest or prospective ownership interest and agrees to keep such
information confidential)); and (ii) in the case of a prospective purchaser of Certificates or interests therein or an
investment advisor related thereto, an Investor Certification indicating that such Person is a prospective purchaser of a
Certificate or an interest therein or an investment advisor related thereto and is requesting the information for use in
evaluating a possible investment in Certificates and will otherwise keep such information confidential with no
further dissemination (except that such Certificateholder may provide such information to its auditors,

 

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legal counsel and
regulators). In the case of a licensed or registered investment advisor acting on behalf of a current or prospective
Certificateholder, the Investor Certification shall be executed and delivered by both the investment advisor and such current
or prospective Certificateholder.

 

Neither
the Master Servicer nor the Special Servicer shall be liable for its dissemination of information in accordance with this Agreement
or by others in violation of the terms of this Agreement. Neither the Master Servicer nor the Special Servicer shall be responsible
or have any liability for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant
to this Section 3.15 unless such information was produced by the Master Servicer or Special Servicer, as applicable.

 

(g)          The
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall be permitted to (but not obligated
to) orally communicate with the Rating Agencies regarding any of the Mortgage Loan documents and any other matter related to the
Mortgage Loans, the related Mortgaged Properties, the related Mortgagors or any other matters relating to this Agreement or related
Intercreditor Agreement; provided that such party summarizes the information provided to the Rating Agencies in such communication
in writing and provides the 17g-5 Information Provider with such written summary in accordance with the procedures set forth in
Section 3.15(c) the same day such communication takes place; provided, further that the summary of such oral
communications shall not identify which Rating Agency the communication was with. The 17g-5 Information Provider shall post such
written summary on the 17g-5 Information Provider’s Website in accordance with the procedures set forth in Section 3.15(c).

 

(h)          The
Special Servicer, subject to the limitations on delivery of Privileged Communications, shall deliver to the Senior Trust Advisor
such reports and other information produced or otherwise available to the Directing Certificateholder (other than, prior to the
occurrence and continuance of a Control Event, any Asset Status Reports that are not Final Asset Status Reports), or Certificateholders
generally, requested by the Senior Trust Advisor in support of the performance of its obligations under this Agreement in electronic
format.     

(i)            
None of the foregoing restrictions in this Section 3.15 or otherwise in this Agreement shall prohibit or restrict
oral or written communications, or providing information, between the Master Servicer, the Senior Trust Advisor or the Special
Servicer, on the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s
or NRSRO’s review of the ratings it assigns to the Master Servicer, the Senior Trust Advisor or the Special Servicer, as
applicable, (ii) such Rating Agency’s or NRSRO’s approval of the Master Servicer, the Senior Trust Advisor or
the Special Servicer, as applicable, as a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s
or NRSRO’s evaluation of the Master Servicer’s, the Senior Trust Advisor or the Special Servicer’s, as applicable,
servicing operations in general; provided, that the Master Servicer, the Senior Trust Advisor or the Special Servicer, as
applicable, shall not provide any information relating to the Certificates, the Mortgage Loans or Serviced Companion Loans, as
applicable, to any Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO unless (x) Mortgagor,
property and other deal specific identifiers are redacted; or (y) such information has already been provided to the 17g-5
Information Provider and has been uploaded on to the 17g-5 Information Provider’s Website pursuant to the terms hereof or
(z) the

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Rating Agency confirms
in writing that it does not intend to use such information in undertaking credit rating surveillance with respect to the Certificates;
provided, however, that the Rating Agencies may use information delivered in reliance on the certification provided
in this clause (z) for any purpose to the extent it is publicly available (unless the availability results from a breach of this
Agreement or any other confidentiality agreement to which such rating agency is subject) or comprised of information collected
by the applicable Rating Agency from the 17g-5 Information Provider’s Website (or another 17g-5 information provider’s
website the such Rating Agency has access to) (in each case, subject to any agreement governing the use of such information, including
any engagement letter with the Depositor or any other applicable depositor).

 

(j)           The
costs and expenses of compliance with this Section 3.15 by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee and any other party hereto shall not be additional Trust Fund expenses, but shall be borne
by the applicable party hereto.

 

Section
3.16     Title to REO Property; REO Account. (a) If title to any Mortgaged Property is
acquired (and thus becomes REO Property), the deed or certificate of sale shall be issued in the name of the Trust where
permitted by applicable law or regulation and consistent with customary servicing procedures, and otherwise, in the name of
the Trustee or its nominee on behalf of the Certificateholders and, if applicable, on behalf of the Holders of the related
Companion Holders, in the case of a Serviced Companion Loan. REO Property with respect to a Non-Serviced Mortgage Loan is
excluded for all purposes of this Section 3.16. The Special Servicer, on behalf of the Trust Fund and, if applicable,
the related Serviced Companion Noteholder, shall sell any REO Property prior to the close of the third calendar year
following the year in which the Trust Fund acquires ownership of such REO Property, within the meaning of Treasury
Regulations Section 1.856-6(b)(1), for purposes of Section 860G(a)(8) of the Code, unless the Special Servicer either (i)
applies for an extension of time no later than sixty (60) days prior to the close of the third calendar year in which it
acquired ownership (or the period provided in the then applicable REMIC Provisions) and such extension is granted or is not
denied (an “REO Extension”) by the Internal Revenue Service to sell such REO Property or (ii) obtains for
the Trustee, the Certificate Administrator and the Master Servicer an Opinion of Counsel, addressed to the Trustee, the
Certificate Administrator and the Master Servicer, to the effect that the holding by the Trust Fund of such REO Property
subsequent to the close of the third calendar year following the year in which such acquisition occurred will not cause the
imposition of a tax on any Trust REMIC or cause any Trust REMIC to fail to qualify as a REMIC at any time that any
Uncertificated Lower-Tier Interest or Certificate is outstanding. If the Special Servicer is granted or not denied the REO
Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel
contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property
within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be. Any expense
incurred by the Special Servicer in connection with its being granted the REO Extension contemplated by clause (i) of
the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the second
preceding sentence, shall be an expense of the Trust Fund payable out of the Certificate Account pursuant to Section
3.05(a).

 

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(b)          The
Special Servicer shall segregate and hold all funds collected and received in connection with any REO Property separate and apart
from its own funds and general assets. If an REO Acquisition shall occur, the Special Servicer shall establish and maintain one
or more REO Accounts, held on behalf of the Trustee for the benefit of the Certificateholders and, if applicable, on behalf of
the related Companion Holder(s), as their interest shall appear, and the Trustee (as holder of the Uncertificated Lower-Tier Interests),
for the retention of revenues and other proceeds derived from each REO Property. The REO Account shall be an Eligible Account.
The Special Servicer shall deposit, or cause to be deposited, in the REO Account, within one (1) Business Day after receipt of
properly identified funds, all REO Revenues, Insurance and Condemnation Proceeds and Liquidation Proceeds received in respect
of an REO Property. Funds in the REO Account may be invested in Permitted Investments in accordance with Section 3.06.
The Special Servicer shall give notice to the Trustee, the Certificate Administrator, and the Master Servicer of the location
of the REO Account when first established and of the new location of the REO Account prior to any change thereof.

 

(c)          The
Special Servicer shall withdraw from the REO Account funds necessary for the proper operation, management, insuring, leasing,
maintenance and disposition of any REO Property, but only to the extent of amounts on deposit in the REO Account relating to such
REO Property. On or prior to each Determination Date (or with respect to a Serviced Companion Loan, on the Business Day preceding
each Serviced Whole Loan Remittance Date), the Special Servicer shall withdraw from the REO Account and remit to the Master Servicer,
which shall deposit into the Certificate Account (or the Companion Distribution Account, as applicable), the aggregate of all
amounts received in respect of each REO Property during the most recently ended Due Period, net of (i) any withdrawals made out
of such amounts pursuant to the preceding sentence and (ii) Net Investment Earnings on amounts on deposit in the REO Account;
provided, however, that the Special Servicer may retain in such REO Account, in accordance with the Servicing Standard,
such portion of such balance as may be necessary to maintain a reasonable reserve for repairs, replacements, leasing, management
and tenant improvements and other related expenses for the related REO Property. In addition, on or prior to each Determination
Date (or with respect to a Serviced Companion Loan, on the Business Day preceding each Serviced Whole Loan Remittance Date), the
Special Servicer shall provide the Master Servicer with a written accounting of amounts remitted to the Master Servicer for deposit
in the Certificate Account, as applicable, on such date. The Master Servicer shall apply all such amounts as instructed by the
Special Servicer on the Determination Date (or with respect to a Serviced Companion Loan, on each Serviced Whole Loan Remittance
Date) for the related Distribution Date.

 

(d)          The
Special Servicer shall keep and maintain separate records, on a property-by-property basis, for the purpose of accounting for
all deposits to, and withdrawals from, the REO Account pursuant to Section 3.16(b) or Section 3.16(c).

 

Section
3.17     Management of REO Property. (a) If title to any REO Property is acquired, the
Special Servicer shall manage, consent, protect, operate and lease such REO Property (other than any Non-Serviced Mortgaged
Property) for the benefit of the Certificateholders and the related Companion Holders, as applicable, and the Trustee (as
holder of the Uncertificated Lower-Tier Interests) solely for the purpose of its timely disposition and sale in a manner that
does not cause such REO Property to fail to qualify as “foreclosure

 

    	-187-

    	 

    

 

property” within the meaning of Section
860G(a)(8) of the Code or result in the receipt by the Trust Fund or any Serviced Companion Noteholder of any “income
from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the Code or result in an Adverse REMIC Event.
Subject to the foregoing, however, the Special Servicer shall have full power and authority to do any and all things in
connection therewith as are in the best interests of and for the benefit of the Certificateholders (and, in the case of each
Serviced Whole Loan, the related Companion Holder(s)) and the Trustee (as holder of the Uncertificated Lower-Tier Interests)
all as a collective whole (taking into account the subordinate or pari passu nature of any Companion Loan) (as
determined by the Special Servicer in its reasonable judgment in accordance with the Servicing Standard). Notwithstanding
anything to the contrary herein, REO Property with respect to a Non-Serviced Mortgage Loan is excluded for all purposes of
this Section 3.17(a). Subject to this Section 3.17(a), the Special Servicer may allow the Trust Fund or any
commercial mortgage securitization that holds any Serviced Companion Loan to earn “net income from foreclosure
property” within the meaning of Section 860G(d) of the Code if it determines that earning such income is in the best
interests of Certificateholders and, if applicable, any related Companion Holder(s) on a net after-tax basis as compared with
net leasing such REO Property or operating such REO Property on a different basis. In connection therewith, the Special
Servicer shall deposit or cause to be deposited on a daily basis (and in no event later than one (1) Business Day following
receipt of such properly identified funds) in the applicable REO Account all revenues received by it with respect to each REO
Property and the related REO Loan, and shall withdraw from the REO Account, to the extent of amounts on deposit therein with
respect to such REO Property, funds necessary for the proper operation, management, leasing and maintenance of such REO
Property, including, without limitation:

 

(i)           all
insurance premiums due and payable in respect of such REO Property;

 

(ii)          all
real estate taxes and assessments in respect of such REO Property that may result in the imposition of a lien thereon;

 

(iii)         any
ground rents in respect of such REO Property, if applicable; and

 

(iv)         all
costs and expenses necessary to maintain and lease such REO Property.

 

To
the extent that amounts on deposit in the REO Account in respect of any REO Property are insufficient for the purposes set forth
in clauses (i) through (iv) above with respect to such REO Property, the Master Servicer (subject to receiving notice
from the Special Servicer in accordance with the procedures set forth elsewhere in this Agreement) shall advance from its own
funds such amount as is necessary for such purposes unless (as evidenced by an Officer’s Certificate delivered to the Trustee,
the Special Servicer, the Depositor, the Certificate Administrator and (prior to the occurrence of a Consultation Termination
Event) the Directing Certificateholder) such advances would, if made, constitute Nonrecoverable Servicing Advances.

 

    	-188-

    	 

    

 

(b)          Without
limiting the generality of the foregoing, the Special Servicer shall not:

 

(i)            permit
the Trust Fund to enter into, renew or extend any New Lease with respect to any REO Property, if the New Lease by its terms will
give rise to any income that does not constitute Rents from Real Property;

 

(ii)           permit
any amount to be received or accrued under any New Lease other than amounts that will constitute Rents from Real Property;

 

(iii)          authorize
or permit any construction on any REO Property, other than the completion of a building or other improvement thereon, and then
only if more than 10% of the construction of such building or other improvement was completed before default on the related Mortgage
Loan, became imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

 

(iv)          Directly
Operate, or allow any other Person, other than an Independent Contractor, to Directly Operate, any REO Property on any date more
than ninety (90) days after its acquisition date;

 

unless,
in any such case, the Special Servicer has obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer
as a Servicing Advance) to the effect that such action will not cause such REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code at any time that it is held for the benefit of the Trust
Fund, in which case the Special Servicer may take such actions as are specified in such Opinion of Counsel.

 

(c)          The
Special Servicer shall contract with any Independent Contractor for the operation and management of any REO Property within ninety
(90) days of the acquisition date thereof, provided that:

 

(i)            the
terms and conditions of any such contract may not be inconsistent herewith and shall reflect an agreement reached at arm’s
length;

 

(ii)           the
fees of such Independent Contractor (which shall be an expense of the Trust Fund) shall be reasonable and customary in light of
the nature and locality of the Mortgaged Property;

 

(iii)          any
such contract shall require, or shall be administered to require, that the Independent Contractor (A) pay all costs and expenses
incurred in connection with the operation and management of such REO Property, including, without limitation, those listed in
subsection (a) hereof, and (B) remit all related revenues collected (net of its fees and such costs and expenses) to the
Special Servicer upon receipt;

 

(iv)          none
of the provisions of this Section 3.17(c) relating to any such contract or to actions taken through any such Independent
Contractor shall be deemed to relieve the Special Servicer of any of its duties and obligations hereunder with respect to the
operation and management of any such REO Property; and

 

    	-189-

    	 

    

 

(v)          the
Special Servicer shall be obligated to manage and supervise such Independent Contractor in accordance with the Servicing Standard.

 

The
Special Servicer shall be entitled to enter into any agreement with any Independent Contractor performing services for it related
to its duties and obligations hereunder for indemnification of the Special Servicer by such Independent Contractor, and nothing
in this Agreement shall be deemed to limit or modify such indemnification.

 

(d)          When
and as necessary, the Special Servicer shall send to the Trustee, the Certificate Administrator and the Master Servicer a statement
prepared by the Special Servicer setting forth the amount of net income or net loss, as determined for federal income tax purposes,
resulting from the operation and management of a trade or business on, the furnishing or rendering of a non-customary service
to the tenants of, or the receipt of any other amount not constituting Rents from Real Property in respect of, any REO Property
in accordance with Sections 3.17(a) and 3.17(b).

 

Section
3.18     Sale of Defaulted Mortgage Loans and REO Properties. (a) (i) Within thirty (30) days
after a Defaulted Mortgage Loan has become a Specially Serviced Mortgage Loan, the Special Servicer shall order (but shall not
be required to have received) an Appraisal and within thirty (30) days of receipt of the Appraisal shall determine the fair value
of such Defaulted Mortgage Loan in accordance with the Servicing Standard; provided, however, that if the Special
Servicer is then in the process of obtaining an Appraisal with respect to the related Mortgaged Property, the Special Servicer
shall make its fair value determination as soon as reasonably practicable (but in any event within thirty (30) days) after its
receipt of such an Appraisal. The Special Servicer may, from time to time, adjust its fair value determination based upon changed
circumstances, new information and other relevant factors, in each instance in accordance with a review of such circumstances
and new information in accordance with the Servicing Standard; provided that the Special Servicer shall promptly notify
the Master Servicer in writing of the initial fair value determination and any adjustment to its fair value determination.

 

(ii)           If
any Mortgage Loan or Serviced Companion Loan subject to an Intercreditor Agreement is a Specially Serviced Mortgage Loan or to
the extent otherwise required pursuant to the terms of the related Intercreditor Agreement, then the Special Servicer (with respect
to a Specially Serviced Mortgage Loan) or the Master Servicer (with respect to a Non-Specially Serviced Mortgage Loan) shall promptly
notify in writing the other, any related Companion Holder and any related mezzanine lender, as applicable, of any events requiring
notice under the Intercreditor Agreement in accordance with the terms thereof. Thereafter, any related Companion Holder and related
mezzanine lender, as applicable, will, notwithstanding anything in this Section 3.18 to the contrary, have the option to
purchase the related Mortgage Loan and cure defaults relating thereto as and to the extent set forth in the related Intercreditor
Agreement.

 

(iii)          If
any Mortgage Loan not subject to an Intercreditor Agreement becomes a Specially Serviced Mortgage Loan, or if the related Companion
Holder or related mezzanine lender, as applicable, for any such Mortgage Loan subject to an Intercreditor Agreement has not previously
exercised the option to purchase the Mortgage Loan

 

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pursuant
to the previous paragraph, the Special Servicer may offer to sell to any Person any Specially Serviced Mortgage Loan (to the extent
consistent with any related Intercreditor Agreement) or may offer to purchase any Specially Serviced Mortgage Loan, if and when
the Special Servicer determines, consistent with the Servicing Standard, that no satisfactory arrangements (including by way of
a discounted pay-off) can be made for collection of delinquent payments thereon and such a sale would be in the best economic
interests of the Trust Fund (or, in the case of any Serviced Whole Loan, the Trust Fund and the holder of the related Companion
Loan, as a collective whole, taking into account the subordinate or pari passu nature of the related Companion Loan, as
the case may be) on a net present value basis. The Special Servicer is required to give the Trustee not less than five (5) days
prior written notice of its intention to sell any Specially Serviced Mortgage Loan, in which case the Special Servicer is required
to accept the highest offer received from any person for such Specially Serviced Mortgage Loan in an amount at least equal to
the Purchase Price or, at its option, if it has received no offer at least equal to the Purchase Price therefor, purchase such
Specially Serviced Mortgage Loan at such Purchase Price.

 

(iv)          (A)
In the case of a Specially Serviced Mortgage Loan as to which a default has occurred and is continuing, in the absence of any
offer at least equal to the Purchase Price pursuant to clause (iii) above (or purchase by the Special Servicer for such
price), the Special Servicer shall, subject to subclause (B) below, accept the highest offer received from any Person that
is determined by the Special Servicer to be a fair price for such Specially Serviced Mortgage Loan, if the highest offeror is
a Person other than an Interested Person or any known Affiliate of any such Person. 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 if the highest offeror is an
Interested Person, and any such determination by the Trustee shall be binding upon all parties. The Trustee shall act in a commercially
reasonable manner in making such determination. The reasonable cost of such independent appraisal will be an expense of the offering
Interested Person and the Special Servicer shall use efforts consistent with the Servicing Standard to collect payment from such
Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30) days of demand for payment,
such expense shall be reimbursable to the Trustee by the Master Servicer as a Servicing Advance, but the Special Servicer shall
continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable Interested Person.
The Trustee may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate matters
retained by the Trustee in connection with making such determination. If the Trustee is required to determine whether a cash offer
by an Interested Person constitutes a fair price, the Trustee may (at its option) designate an independent third party expert
in real estate or commercial mortgage loan matters with at least five (5) years’ experience in valuing or investing in loans
similar to the subject Mortgage Loan, that has been selected with reasonable care by the Trustee to determine if such cash offer
constitutes a fair price for such Mortgage Loan. If the Trustee designates such a third party to make such determination, the
Trustee shall be entitled to rely conclusively upon such third party’s determination. The reasonable fees of, and the costs
of all appraisals, inspection reports and broker opinions

 

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of
value incurred by any such third party shall be covered by, and shall be reimbursable, from the offering Interested Person and
the Special Servicer shall use efforts consistent with the Servicing Standard to collect payment from such Interested Person.
If such expense is not paid by the applicable Interested Person within thirty (30) days of demand for payment, such expense shall
be reimbursable to the Trustee by the Master Servicer as a Servicing Advance but the Special Servicer shall continue to use efforts
consistent with the Servicing Standard to collect such amounts from the applicable Interested Person. Neither the Trustee, in
its individual capacity, nor any of its Affiliates may make an offer for or purchase any Specially Serviced Mortgage Loan.

 

(B)          The
Special Servicer will not be obligated to accept the highest offer if the Special Servicer determines, in accordance with the
Servicing Standard (and subject to the requirements of any related Intercreditor Agreement), that the rejection of such offer
would be in the best interests of the Holders of Certificates and, with respect to a Serviced Pari Passu Whole Loan, any related
holder of a Companion Loan, as a collective whole (taking into account the subordinate or pari passu nature of such Companion
Loan, as the case may be). In addition, the Special Servicer may accept a lower offer if it determines, in accordance with the
Servicing Standard (and subject to the requirements of any related Intercreditor Agreement), that the acceptance of such offer
would be in the best interests of the Holders of Certificates and, with respect to a Serviced Pari Passu Whole Loan, any related
holder of a Companion Loan, as a collective whole (taking into account the subordinate or pari passu nature of such Companion
Loan, as the case may be) (for example, if the prospective buyer making the lower offer is more likely to perform its obligations,
or the terms offered by the prospective buyer making the lower offer are more favorable); provided that the offeror is
not the Special Servicer or a Person that is an Affiliate of the Special Servicer. The Special Servicer shall use reasonable efforts
to sell all Specially Serviced Mortgage Loans prior to the Rated Final Distribution Date. For the avoidance of doubt, the Trustee
shall have no obligation to make any fair value determination, to the extent required to do so pursuant to this Section 3.18,
on the basis of anything other than the related Appraisal.

 

(v)          Unless
and until any Specially Serviced Mortgage Loan is sold pursuant to this Section 3.18(a), the Special Servicer shall pursue
such other resolution strategies with respect to such Specially Serviced Mortgage Loan, including, without limitation, workout
and foreclosure, as the Special Servicer may deem appropriate, consistent with the Asset Status Report and the Servicing Standard
and the REMIC Provisions.

 

(b)          (i)
(A) The Special Servicer may purchase any REO Property at the Purchase Price therefor (in the case of a Serviced Whole Loan, such
purchase shall be a purchase of the entire REO Property, including the portion relating to the related Companion Loan if and when
the Special Servicer determines, consistent with the Servicing Standard, that such a sale would be in the best economic interest
of the Trust Fund and the related Companion Holders. The Special Servicer shall give the Trustee, the Master Servicer, each Companion
Holder and the Certificate Administrator and (prior to the occurrence of a Consultation Termination Event) the Directing Certificateholder,
not less than five (5) Business Days’ prior written notice of the Purchase Price and its intention to (i) purchase any REO
Property at the Purchase Price therefor or (ii) sell any REO Property, in which case the Special Servicer shall accept the highest
offer

 

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received
from any Person for any REO Property in an amount at least equal to the Purchase Price therefor. To the extent permitted by applicable
law, and subject to the Servicing Standard, the Master Servicer, an Affiliate of the Master Servicer, the Special Servicer or
an Affiliate of the Special Servicer, or an employee of either of them may act as broker in connection with the sale of any REO
Property and may retain from the proceeds of such sale a brokerage commission that does not exceed the commission that would have
been earned by an independent broker pursuant to a brokerage agreement entered into at arm’s length.

 

(B)          In
the absence of any such offer as set forth in subclause (A) above, the Special Servicer shall, subject to subclause
(C) below, accept the highest offer for such REO Property received from any Person that is determined to be a fair price (1)
by the Special Servicer, if the highest bidder is a Person other than an Interested Person, or (2) by the Trustee, if the highest
bidder is an Interested Person. Notwithstanding anything to the contrary herein, neither the Trustee, in its individual capacity,
nor any of its Affiliates may make an offer for or purchase any REO Property pursuant hereto.

 

(C)          The
Special Servicer shall not be obligated by either of the foregoing paragraphs or otherwise to accept the highest offer if the
Special Servicer determines, in accordance with the Servicing Standard, that rejection of such offer would be in the best interests
of the Certificateholders and, with respect to any Serviced Whole Loan, the related Companion Holder, as a collective whole (taking
into account the subordinate or pari passu nature of any Serviced Companion Loans). In addition, the Special Servicer may
accept a lower offer if it determines, in accordance with the Servicing Standard, that acceptance of such offer would be in the
best interests of the Certificateholders and, with respect to any Serviced Whole Loan, the related Companion Holder, as a collective
whole (taking into account the subordinate or pari passu nature of any Serviced Companion Loans) (for example, if the prospective
buyer making the lower offer is more likely to perform its obligations, or the terms offered by the prospective buyer making the
lower offer are more favorable); provided that the offeror is not the Special Servicer or a Person that is an Affiliate
of the Special Servicer.

 

(D)          In
determining whether any offer received from an Interested Person represents a fair price for any REO Property, the Trustee shall
obtain and may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate matters
retained by the Trustee in connection with making such determination. The reasonable cost of such Independent appraiser or other
Independent expert shall be an expense of the offering Interested Person purchaser. The reasonable fees and costs of all appraisals,
inspection reports and broker opinions of value incurred by any such third party shall be covered by, and shall be reimbursable,
from the offering Interested Person and the Special Servicer shall use efforts consistent with the Servicing Standard to collect
payment from such Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30) days of
demand for payment, such expense shall be reimbursable to the Trustee by the Master Servicer as a Servicing Advance but the Special
Servicer shall continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable Interested
Person. In determining whether any offer constitutes a fair price for any REO Property, the Special

  

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Servicer
or the Trustee (or, if applicable, such appraiser) shall take into account, and any appraiser or other expert in real estate matters
shall be instructed to take into account, as applicable, among other factors, the physical condition of such REO Property, the
state of the local economy and the Trust Fund’s obligation to comply with REMIC Provisions.

 

(ii)           Subject
to the Servicing Standard, the Special Servicer shall act on behalf of the Trust Fund and the related Companion Holders in negotiating
and taking any other action necessary or appropriate in connection with the sale of any REO Property, including the collection
of all amounts payable in connection therewith. A sale of any REO Property shall be without recourse to, or representation or
warranty by, the Trustee, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Senior
Trust Advisor or the Trust Fund (except that any contract of sale and assignment and conveyance documents may contain customary
warranties of title, so long as the only recourse for breach thereof is to the Trust Fund) and, if consummated in accordance with
the terms of this Agreement, none of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Senior Trust Advisor nor the Trustee shall have any liability to the Trust Fund or any Certificateholder or related Companion
Holder (if applicable) with respect to the purchase price therefor accepted by the Special Servicer or the Trustee.

 

(c)          Any
sale of a Defaulted Mortgage Loan or any REO Property shall be for cash only (unless changes in the REMIC Provisions or authoritative
interpretations thereof made or issued subsequent to the Startup Day allow a sale for other consideration).

 

(d)          With
respect to each Serviced Pari Passu Whole Loan, pursuant to the terms of the related Intercreditor Agreement and this Agreement,
if the related Serviced Pari Passu Whole Loan becomes a defaulted loan, and if the Special Servicer determines to sell the related
Mortgage Loan that has become a Defaulted Mortgage Loan in accordance with this Section 3.18, then the Special Servicer
will be required to sell the related Pari Passu Companion Loan, together with such Mortgage Loan as one whole loan and will be
required to require that all offers be submitted to the Certificate Administrator in writing and be accompanied by a refundable
deposit of cash in an amount equal to 5% of the offer amount (subject to a cap of $2,500,000). To the extent a determination is
required to be made hereunder as to whether any cash offer constitutes a fair price for the Serviced Whole Loan, such determination
shall be made by the Trustee if the offeror is an Interested Person. Notwithstanding the foregoing, the Special Servicer will
not be permitted to sell the related Mortgage Loan together with the related Serviced Pari Passu Companion Loan if it becomes
a defaulted Whole Loan without the written consent of the holder of the related Pari Passu Companion Loan (provided that
such consent is not required if 50% or more of the related Pari Passu Companion Loan is held by the related Mortgagor or an affiliate
of the related Mortgagor) unless the Special Servicer has delivered to the holder of the related Pari Passu Companion Loan: (a)
at least fifteen (15) Business Days prior written notice of any decision to attempt to sell such Serviced Whole Loan; (b) at least
ten (10) days prior to the permitted sale date, a copy of each bid package (together with any material amendments to such bid
packages) received by the Special Servicer in connection with any such proposed sale; (c) at least ten (10) days prior to the
proposed sale date, a copy of the most recent appraisal for such Serviced Whole Loan, and any documents in the servicing file
reasonably requested by the holder of the related Pari Passu Companion Loan that are material to the sale

 

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price
of the Serviced Whole 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 Directing Certificateholder) 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. The holder of the related Pari Passu Companion Loan (or its representative) will be permitted
to submit an offer at any sale of such Whole Loan; however, the related Mortgagor and its agents and Affiliates shall not
be permitted to submit an offer at such sale. Notwithstanding the foregoing, with respect to each Serviced Whole Loan, the holder
of the related Companion Loan may waive any of the delivery or timing requirements set forth in this paragraph with respect to
the related Whole Loan. If the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair
price, the Trustee may (at its option and at the expense of the offering Interested Person purchaser) designate an independent
third party expert in real estate or commercial mortgage loan matters with at least five (5) years’ experience in valuing
or investing in loans similar to the subject Mortgage Loan, that has been selected with reasonable care by the Trustee to determine
if such cash offer constitutes a fair price for such Mortgage Loan. The Trustee shall act in a commercially reasonable manner
in making such determination. If the Trustee designates such a third party to make such determination, the Trustee shall be entitled
to rely conclusively upon such third party’s determination. The reasonable fees of, and the costs of all appraisals, inspection
reports and broker opinions of value incurred by any such third party shall be covered by, and shall be reimbursable, from the
offering Interested Person and the Special Servicer shall use efforts consistent with the Servicing Standard to collect payment
from such Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30) days of demand
for payment, such expense shall be reimbursable to the Trustee by the Master Servicer as a Servicing Advance but the Special Servicer
shall continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable Interested Person.

 

(e)           (i)
Notwithstanding anything in this Section 3.18 to the contrary, pursuant to the terms of the related Intercreditor Agreement,
the holder of the related AB Subordinate Companion Loan for each applicable Serviced Whole Loan will have the right to purchase
the related Mortgage Loan or related REO Property, as applicable. Such right of the holder of the AB Subordinate Companion Loan
shall be given priority over any provision described in this Section 3.18 as and to the extent set forth in the related
Intercreditor Agreement. If the related Mortgage Loan or related REO Property is purchased by the holder of such AB Subordinate
Companion Loan, repurchased by the applicable Mortgage Loan Seller or otherwise ceases to be subject to this Agreement, the related
AB Subordinate Companion Loan will no longer be subject to this Agreement.

 

(ii)           Notwithstanding
anything in this Section 3.18 to the contrary, any mezzanine lender will have the right to purchase the related Mortgage
Loan or REO Property, as applicable, and cure defaults relating thereto, as and to the extent set forth in the related Intercreditor
Agreement.

 

(f)           Unless
otherwise provided in an Intercreditor Agreement the sale of any Mortgage Loan pursuant to this Section 3.18 will be on
a servicing released basis.

 

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(g)          In
the event the Master Servicer or the Special Servicer has the right to purchase any Companion Loan on behalf of the Trust pursuant
to the related Intercreditor Agreement, neither the Master Servicer nor the Special Servicer shall exercise such right.

 

Section
3.19     Additional Obligations of Master Servicer and Special Servicer. (a) The Master Servicer
shall deliver all Compensating Interest Payments (other than the portion of any Compensating Interest Payment allocated to a Serviced
Pari Passu Companion Loan) to the Certificate Administrator for deposit in the Lower-Tier REMIC Distribution Account on each P&I
Advance Date, without any right of reimbursement therefor. The Master Servicer shall deliver the portion of any Compensating Interest
Payment allocated to a Serviced Pari Passu Companion Loan to the Companion Paying Agent for deposit in the Companion Distribution
Account on the applicable Serviced Whole Loan Remittance Date, without any right of reimbursement therefor.

 

(b)          The
Master Servicer or the Special Servicer, as applicable, shall provide to each Companion Holder any reports or notices required
to be delivered to such Companion Holder pursuant to the related Intercreditor Agreement.

 

(c)          Upon
the determination that a previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would
exceed the full amount of the principal portion of general collections on the Mortgage Loans deposited in the Certificate Account
and available for distribution on the next Distribution Date, the Master Servicer or the Trustee, each at its own option and in
its sole discretion, as applicable, instead of obtaining reimbursement for the remaining amount of such Nonrecoverable Advance
pursuant to Section 3.05(a)(v) immediately, as an accommodation may elect to refrain from obtaining such reimbursement
for such portion of the Nonrecoverable Advance during the one month collection period ending on the then-current Determination
Date, for successive one-month periods for a total period not to exceed twelve (12) months (provided that, any such deferral
exceeding six (6) months shall require, prior to the occurrence and continuance of any Control Event, the consent of the Directing
Certificateholder), and any election to so defer or not to defer shall be deemed to be in accordance with the Servicing Standard.
If the Master Servicer or the Trustee makes such an election at its sole option and in its sole discretion to defer reimbursement
with respect to all or a portion of a Nonrecoverable Advance (together with interest thereon), then such Nonrecoverable Advance
(together with interest thereon) or portion thereof shall continue to be fully reimbursable in the subsequent collection period
(subject, again, to the same sole option to defer; it is acknowledged that, in such a subsequent period, such Nonrecoverable Advance
shall again be payable first from principal collections as described above prior to payment from other collections). In
connection with a potential election by the Master Servicer or the Trustee to refrain from the reimbursement of a particular Nonrecoverable
Advance or portion thereof during the one month collection period ending on the related Determination Date for any Distribution
Date, the Master Servicer or the Trustee shall further be authorized to wait for principal collections on the Mortgage Loans to
be received until the end of such collection period before making its determination of whether to refrain from the reimbursement
of a particular Nonrecoverable Advance or portion thereof); provided, however, that if, at any time the Master Servicer
or the Trustee, as applicable, elects, in its sole discretion, not to refrain from obtaining such reimbursement or otherwise determines
that the reimbursement of a Nonrecoverable Advance during a one-month collection period will exceed the full amount of the principal

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portion
of general collections deposited in the Certificate Account for such Distribution Date, then the Master Servicer or the Trustee,
as applicable, shall use its reasonable efforts to give the 17g-5 Information Provider fifteen (15) days’ notice of such
determination for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.15(c), unless extraordinary
circumstances make such notice impractical. Notwithstanding the foregoing, failure to give notice as required by the preceding
sentence shall in no way affect the Master Servicer’s or the Trustee’s election whether to refrain from obtaining
such reimbursement as described in this Section 3.19(c). Nothing herein shall give the Master Servicer or the Trustee the
right to defer reimbursement of a Nonrecoverable Advance to the extent of any principal collections then available in the Certificate
Account pursuant to Section 3.05(a)(v).

 

The
foregoing shall not, however, be construed to limit any liability that may otherwise be imposed on such Person for any failure
by such Person to comply with the conditions to making such an election under this section or to comply with the terms of this
section and the other provisions of this Agreement that apply once such an election, if any, has been made; provided, however,
that the fact that a decision to recover such Nonrecoverable Advances over time, or not to do so, benefits some classes of Certificateholders
to the detriment of other classes shall not, with respect to the Master Servicer or the Special Servicer, as applicable, constitute
a violation of the Servicing Standard and/or with respect to the Trustee (solely in its capacity as Trustee), constitute a violation
of any fiduciary duty to Certificateholders or any contractual obligation hereunder. If the Master Servicer or the Trustee, as
applicable, determines, in its sole discretion, that its ability to fully recover the Nonrecoverable Advances has been compromised,
then the Master Servicer or the Trustee, as applicable, shall be entitled to immediate reimbursement of Nonrecoverable Advances
with interest thereon at the Reimbursement Rate from all amounts in the Certificate Account for such Distribution Date (deemed
first from principal and then interest). Any such election by any such party to refrain from reimbursing itself
or obtaining reimbursement for any Nonrecoverable Advance or portion thereof with respect to any one or more collection periods
shall not limit the accrual of interest at the Reimbursement Rate on such Nonrecoverable Advance for the period prior to the actual
reimbursement of such Nonrecoverable Advance. The Master Servicer’s or the Trustee’s, as applicable, agreement to
defer reimbursement of such Nonrecoverable Advances as set forth above is an accommodation to the Certificateholders and shall
not be construed as an obligation on the part of the Master Servicer or the Trustee, as applicable, or a right of the Certificateholders.
Nothing herein shall be deemed to create in the Certificateholders a right to prior payment of distributions over the Master Servicer’s
or the Trustee’s, as applicable, right to reimbursement for Advances (deferred or otherwise) and accrued interest thereon.
In all events, the decision to defer reimbursement or to seek immediate reimbursement of Nonrecoverable Advances shall be deemed
to be in accordance with the Servicing Standard and none of the Master Servicer, the Trustee or the other parties to this Agreement
shall have any liability to one another or to any of the Certificateholders or any of the Companion Holders for any such election
that such party makes as contemplated by this section or for any losses, damages or other adverse economic or other effects that
may arise from such an election.

 

With
respect to any modification or amendment of any Intercreditor Agreement related to a Serviced Whole Loan (to the extent received),
the Master Servicer or the Special Servicer, as applicable, shall provide to the 17g-5 Information Provider a copy of any such

 

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modification
or amendment, which the 17g-5 Information Provider shall promptly post on the 17g-5 Information Provider’s Website in accordance
with Section 3.15(c).

 

(d)          With
respect to any Mortgage Loan (or Serviced Whole Loan), if the related Mortgage Loan documents permit the lender to (but do not
require the lender to), at its option, prior to an event of default under the related Mortgage Loan (or Serviced Whole Loan),
apply amounts held in any reserve account as a prepayment or hold such amounts in a reserve account, the Master Servicer may not
apply such amounts as a prepayment, and will instead continue to hold such amounts in the applicable reserve account, unless not
applying those amounts as a prepayment would be a violation of the Servicing Standard. Such amount may be used, if permitted under
the Mortgage Loan documents, to defease the loan, or may be used to prepay the Mortgage Loan (or Serviced Whole Loan), or for
other purpose consistent with the Servicing Standard and the Mortgage Loan documents, upon a subsequent default.

 

Section
3.20     Modifications, Waivers, Amendments and Consents. (a) Except as set forth in Section
3.08(a), Section 3.08(b), Section 3.08(e), this Section 3.20(a), Section 3.20(d), Section 3.20(i),
Section 3.20(j) and Section 6.07, but subject to any other conditions set forth thereunder and, with respect to any
Mortgage Loan (other than any Non-Serviced Mortgage Loan) or any Serviced Whole Loan, (and with respect to any Serviced Whole
Loan, subject to the rights of the related Companion Holder, as applicable, to advise or consult with the Master Servicer or Special
Servicer, as applicable, with respect to, or to consent to, a modification, waiver or amendment, in each case, pursuant to the
terms of the related Intercreditor Agreement), the Master Servicer shall not modify, waive or amend the terms of a Mortgage Loan
and/or Companion Loan (that constitute a Major Decision) without the prior written consent of the Special Servicer (it being understood
that the Master Servicer will promptly provide the Special Servicer with notice of any request for such modification, waiver or
amendment, the Master Servicer’s written recommendation and analysis, and all information reasonably available to the Master
Servicer that may be reasonably requested by the Special Servicer in order to grant or withhold such consent); provided
that in the event that the Special Servicer does not respond within ten (10) Business Days after receipt of such recommendation
and analysis and all such information reasonably requested by the Special Servicer in order to grant or withhold such consent,
plus the time period provided to the Directing Certificateholder or other relevant party under this Agreement and, if applicable,
any time period provided to a Companion Holder under a related Intercreditor Agreement, the Special Servicer’s consent to
such modification, waiver or amendment shall be deemed granted; and provided, further, that no extension entered
into pursuant to this Section 3.20(a) shall extend the Maturity Date beyond the earlier of (i) five (5) years prior to
the Rated Final Distribution Date and (ii) in the case of a Mortgage Loan secured solely or primarily by a leasehold estate and
not also the related fee interest, the date twenty (20) years or, to the extent consistent with the Servicing Standard giving
due consideration to the remaining term of the Ground Lease, ten (10) years, prior to the expiration of such leasehold estate.
If such extension would extend the Maturity Date of such Mortgage Loan and/or related Companion Loan for more than twelve (12)
months from and after the original Maturity Date of such Mortgage Loan and/or related Companion Loan and such Mortgage Loan and/or
related Companion Loan is not in default or default with respect thereto is not reasonably foreseeable, prior to any such extension,
the Master Servicer shall (1) provide the Trustee, the Certificate Administrator, the Special Servicer, the Senior Trust Advisor
and (prior to the occurrence of a Consultation Termination Event) the Directing Certificateholder, with an

 

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Opinion
of Counsel (at the expense of the related Mortgagor to the extent permitted under the Mortgage Loan documents and, if not required
or permitted to be paid by the Mortgagor, to be paid as a Trust Fund expense in accordance with Section 3.11(d)) that such
extension would not constitute a “significant modification” of the Mortgage Loan and/or Serviced Companion Loan within
the meaning of Treasury Regulations Section 1.860G-2(b) and (2) subject to the Servicing Standard, prior to the occurrence and
continuance of a Control Event, obtain the consent of the Directing Certificateholder (or, after the occurrence and during the
continuance of a Control Event, but prior to a Consultation Termination Event, upon consultation with the Directing Certificateholder
pursuant to Section 6.07 hereof) (which consent or consultation shall be coordinated through the Special Servicer). Notwithstanding
the foregoing, subject to the rights of the related Companion Holder to advise the Master Servicer with respect to, or consent
to, such modification, waiver or amendment pursuant to the terms of the related Intercreditor Agreement, the Master Servicer,
with respect to Non-Specially Serviced Mortgage Loans, without the consent of the Special Servicer (unless such modification,
waiver or amendment is a Major Decision), may modify or amend the terms of any Mortgage Loan and/or related Serviced Companion
Loan in order to (i) cure any ambiguity or mistake therein or (ii) correct or supplement any provisions therein which may be inconsistent
with any other provisions therein or correct any error; provided that, if the Mortgage Loan (other than any Non-Serviced
Mortgage Loan) and/or related Serviced Companion Loan is not in default or default with respect thereto is not reasonably foreseeable,
such modification or amendment would not be a “significant modification” of the Mortgage Loan and/or related Serviced
Companion Loan within the meaning of Treasury Regulations Section 1.860G-2(b).

 

Subject
to Section 6.07 herein, applicable law and the Mortgage Loan and/or related Serviced Companion Loan documents, neither
the Master Servicer nor the Special Servicer shall permit the substitution of any Mortgaged Property (or any portion thereof)
for one or more other parcels of real property at any time the Mortgage Loan and/or related Serviced Companion Loan is not in
default pursuant to the terms of the related Mortgage Loan and/or related Serviced Companion Loan documents or default with respect
thereto is not reasonably foreseeable unless (i) the Master Servicer or the Special Servicer, as applicable, obtains Rating Agency
Confirmation from each Rating Agency (and delivers such Rating Agency Confirmation to the Directing Certificateholder, if permitted
by the applicable Rating Agency) and a confirmation of any applicable rating agencies that such action will not result in the
downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any)
(provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation
may be considered satisfied with respect to the Certificates pursuant to Section 3.30)) and (ii) such substitution would
not be a “significant modification” of the Mortgage Loan and/or related Serviced Companion Loan within the meaning
of Treasury Regulations Section 1.860G-2(b) or otherwise cause an Adverse REMIC Event (and the Master Servicer or Special Servicer,
as applicable, may obtain and rely upon an Opinion of Counsel (at the expense of the related Mortgagor if not prohibited by the
terms of the related Mortgage Loan documents, and if so prohibited, at the expense of the Trust Fund) with respect thereto).

 

(b)          If
the Special Servicer determines that a modification, waiver or amendment (including, without limitation, the forgiveness or deferral
of interest or principal or the substitution of collateral pursuant to the terms of the Mortgage Loan (other than any Non-

 

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Serviced
Mortgage Loan) and/or related Serviced Companion Loan or otherwise, the release of collateral or the pledge of additional collateral)
of the terms of a Specially Serviced Mortgage Loan with respect to which a payment default or other material default has occurred
or a payment default or other material default is, in the Special Servicer’s judgment, reasonably foreseeable (as evidenced
by an Officer’s Certificate of the Special Servicer), is reasonably likely to produce a greater recovery on a net present
value basis (the relevant discounting to be performed at the related Mortgage Rate) to the Trust and, if applicable, the Companion
Holders, as the holders of the related Serviced Companion Loan than liquidation of such Specially Serviced Mortgage Loan, then
the Special Servicer may agree to a modification, waiver or amendment of such Specially Serviced Mortgage Loan, subject to (x)
the provisions of this Section 3.20(b) and Section 3.20(c), (y) with respect to any Mortgage Loan, prior to the
occurrence and continuance of a Control Event, the approval of the Directing Certificateholder (or after the occurrence and during
the continuance of a Control Event, but prior to a Consultation Termination Event, upon consultation with the Directing Certificateholder)
as provided in Section 6.07; provided that with respect to any Serviced AB Whole Loan, prior to the occurrence and
continuance of a related AB Control Appraisal Period, the approval of the holder of the related AB Subordinate Companion Loan,
will be required to the extent set forth in the related Intercreditor Agreement and the Directing Certificateholder shall have
no consent or consultation rights regarding the matter; and (z) additionally, with respect to a Serviced Whole Loan, the rights
of the related Serviced Companion Noteholder or with respect to a Mortgage Loan (other than any Non-Serviced Mortgage Loan) with
mezzanine debt, the rights of the related mezzanine lender, to advise or consult with the Special Servicer with respect to, or
consent to, such modification, waiver or amendment, in each case, pursuant to the terms of the related Intercreditor Agreement
or mezzanine intercreditor agreement, as applicable; provided that in the case of any release or substitution of
collateral (other than a defeasance), the Special Servicer shall have obtained an Opinion of Counsel that such release or substitution
would not be a “significant modification” of the Mortgage Loan within the meaning of Treasury Regulations Section
1.860G-2(b) or otherwise cause an Adverse REMIC Event.

 

In
connection with (i) the release of a Mortgaged Property (other than any Non-Serviced Mortgaged Property), or any portion of such
Mortgaged Property from the lien of the related Mortgage or (ii) the taking of a Mortgaged Property (other than any Non-Serviced
Mortgaged Property), or any portion of such Mortgaged Property by exercise of the power of eminent domain or condemnation, if
the related Mortgage Loan documents require the Master Servicer or the Special Servicer, as applicable, to calculate (or to approve
the calculation of the related Mortgagor of) the loan-to-value ratio of the remaining Mortgaged Property or Mortgaged Properties
or the fair market value of the real property constituting the remaining Mortgaged Property or Mortgaged Properties, for purposes
of REMIC qualification of the related Mortgage Loan, then such calculation shall, unless then permitted by the REMIC Provisions,
exclude the value of personal property and going concern value, if any, as determined by an appropriate third party.If,
following any such release or taking, the loan-to-value ratio as so calculated is greater than 125%, the Master Servicer or Special
Servicer, as applicable, shall require payment of principal by a “qualified amount” as determined under Revenue Procedure
2010-30 or successor provisions, unless the related borrower provides an Opinion of Counsel that if such amount
is not paid the related Mortgage Loan will not fail to be a “qualified mortgage” as defined in Section 860G(a)(3)
of the Code.

 

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The
Special Servicer shall use its reasonable efforts to the extent possible to cause each Specially Serviced Mortgage Loan to fully
amortize prior to the Rated Final Distribution Date and shall not agree to a modification, waiver or amendment of any term of
any Specially Serviced Mortgage Loan if such modification, waiver or amendment would (1) extend the maturity date of any such
Specially Serviced Mortgage Loan to a date occurring later than the earlier of (a) five (5) years prior to the Rated Final Distribution
Date and (b) if such Specially Serviced Mortgage Loan is secured solely or primarily by a leasehold estate and not also the related
fee interest, the date occurring twenty (20) years or, to the extent consistent with the Servicing Standard giving due consideration
to the remaining term of the ground lease and, prior to the occurrence and continuance of a Control Event, with the consent of
the Directing Certificateholder, ten (10) years prior to the expiration of such leasehold estate (including any options to extend
such leasehold estate exercisable unilaterally by the related Mortgagor), or (2) provide for the deferral of interest unless interest
accrues on the related Mortgage Loan or Serviced Whole Loan generally at the related Mortgage Rate.

 

(c)          Any
provision of this Section 3.20 to the contrary notwithstanding, except when a Mortgage Loan and/or Companion Loan is in
default or default with respect thereto is reasonably foreseeable, no fee described in this Section 3.20 shall be collected
by any Master Servicer or Special Servicer from a Mortgagor (or on behalf of the Mortgagor) in conjunction with any consent or
any modification, waiver or amendment of a Mortgage Loan or Companion Loan, as applicable (unless the amount thereof is specified
in the related Mortgage Note) if the collection of such fee would cause such consent, modification, waiver or amendment to be
a “significant modification” of the Mortgage Note within the meaning of Treasury Regulations Section 1.860G-2(b).

 

(d)          To
the extent consistent with this Agreement (including, without limitation, the first sentence of Section 3.20(a), and Section
6.07), the Master Servicer (as provided in Sections 3.08(a), 3.08(b) and 3.08(e)) or the Special Servicer
may, consistent with the Servicing Standard, agree to any waiver, modification or amendment of a Mortgage Loan or Serviced Companion
Loan that is not in default or as to which default is not reasonably foreseeable only if it provides the Trustee and the Certificate
Administrator with an Opinion of Counsel (at the expense of the related Mortgagor or such other Person requesting such modification
or, if such expense cannot be collected from the related Mortgagor or such other Person, to be paid out of the Certificate Account
pursuant to Section 3.05(a); provided that the Master Servicer or Special Servicer, as the case may be, shall use
its reasonable efforts to collect such fee from the Mortgagor or such other Person to the extent permitted under the related Mortgage
Loan documents) to the effect that the contemplated waiver, modification or amendment (i) will not be a “significant modification”
of the Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b) and (ii) will not cause (x) any Trust REMIC
to fail to qualify as a REMIC for purposes of the Code or (y) any Trust REMIC to be subject to any tax under the REMIC Provisions.
Notwithstanding the foregoing, neither the Master Servicer nor the Special Servicer may waive the payment of any Yield Maintenance
Charge or the requirement that any prepayment of a Mortgage Loan be made on a Due Date, or if not made on a Due Date, be accompanied
by all interest that would be due on the next Due Date with respect to any Mortgage Loan or Serviced Companion Loan that is not a Specially Serviced Mortgage Loan.

 

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(e)           In
the event of a modification that creates Mortgage Deferred Interest, such Mortgage Deferred Interest will be allocated to reduce
the Distributable Certificate Interest of the Class or Classes of Regular Certificates (other than the Class X Certificates) with
the latest sequential designation then outstanding, and to the extent so reduced, shall be added to the Certificate Balance of
such Class.

 

(f)           Subject
to Section 3.20(c), the Master Servicer and the Special Servicer each may, as a condition to its granting any request by
a Mortgagor for consent, modification (including extensions), waiver or indulgence or any other matter or thing, the granting
of which is within the Master Servicer’s or the Special Servicer’s, as the case may be, discretion pursuant to the
terms of the instruments evidencing or securing the related Mortgage Loan or Companion Loan and is permitted by the terms of this
Agreement, require that such Mortgagor pay to the Master Servicer or the Special Servicer, as the case may be, as additional servicing
compensation, a reasonable or customary fee, for the additional services performed in connection with such request; provided
that the charging of such fee is not a “significant modification” of the Mortgage Loan within the meaning of Treasury
Regulations Section 1.860G-2(b).

 

(g)          All
modifications (including extensions), waivers and amendments of the Mortgage Loans and/or Companion Loans entered into pursuant
to this Section 3.20 shall be in writing, signed by the Master Servicer or the Special Servicer, as the case may be, and
the related Mortgagor (and by any guarantor of the related Mortgage Loan, if such guarantor’s signature is required by the
Special Servicer in accordance with the Servicing Standard).

 

(h)          With
respect to any modification, waiver or amendment for which it is responsible, the Special Servicer shall notify the Master Servicer,
the Trustee, the Certificate Administrator, the Senior Trust Advisor (after the occurrence and during the continuance of a Control
Event), the Directing Certificateholder (other than following the occurrence of a Consultation Termination Event), the applicable
Companion Holder (unless, with respect to a holder of an AB Subordinate Companion Loan related to a Serviced AB Whole Loan, an
AB Control Appraisal Period has occurred, if applicable), the related Mortgage Loan Seller (if such Mortgage Loan Seller is not
a Master Servicer or Sub-Servicer of such Mortgage Loan or the Directing Certificateholder) and the 17g-5 Information Provider
(which shall promptly post such notice on the 17g-5 Information Provider’s Website in accordance with Section 3.15(c))
in writing of any modification, waiver or amendment (in each case, after it is finalized and executed) of any term of any Mortgage
Loan or Companion Loan that is modified, waived or amended and the date thereof. With respect to any modification, waiver or amendment
(in each case, after it is finalized and executed) for which it is responsible, the Master Servicer shall provide written notice
of any such modification, waiver or amendment to the Trustee, the Certificate Administrator, the Special Servicer (and the Special
Servicer shall, prior to the occurrence of a Consultation Termination Event, forward such notice to the Directing Certificateholder),
the applicable Companion Holder (unless, with respect to a holder of an AB Subordinate Companion Loan related to a Serviced AB
Whole Loan, an AB Control Appraisal Period has occurred, if applicable) and the related Mortgage Loan Seller (so long as such
Mortgage Loan Seller is not a Master Servicer or Sub-Servicer of such Mortgage Loan or the Directing
Certificateholder) and the 17g-5 Information Provider (which shall promptly post such notice on the 17g-5 Information Provider’s
Website in accordance with Section 3.15(c)). The party responsible for delivering notice shall deliver to the Custodian
with a copy to the Master

 

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Servicer (if such notice is being delivered by the Special Servicer) for deposit in the related Mortgage
File, an original counterpart of the agreement relating to such modification, waiver or amendment, promptly (and in any event
within ten (10) Business Days) following the execution thereof, with a copy to the applicable Companion Holder, if any. Following
receipt of the Master Servicer’s or the Special Servicer’s, as applicable, delivery of the aforesaid modification,
waiver or amendment to the Certificate Administrator, the Certificate Administrator shall forward a copy thereof to each Holder
of a Certificate (other than the Class R Certificates) upon request. With respect to the processing of any modification, waiver
or consent related to any Mortgagor incurring additional debt or mezzanine debt, the Special Servicer (if the Special Servicer
processes such modification, waiver or consent pursuant to Section 3.20(a)) or the Master Servicer (if the Master Servicer
processes such modification, waiver or consent pursuant to Section 3.20(a)) shall, on or before the later of (i) 3:00 p.m.
on the related P&I Advance Date and (ii) five (5) Business Days immediately following the Master Servicer or Special Servicer,
as applicable, obtaining actual knowledge of the incurrence of such additional debt or mezzanine debt, deliver notice of the Mortgagor’s
incurrence of such debt, substantially in the form of Exhibit KK, to cts.sec.notifications@wellsfargo.com. The notice contemplated
in the preceding sentence shall set forth, to the extent the Special Servicer or Master Servicer, as applicable, has the requisite
information or can reasonably obtain such information, (1) the amount of additional debt that was incurred in the related Due
Period, (2) the total debt service coverage ratio calculated on the basis of such Mortgage Loan and additional debt, and (3) the
aggregate LTV Ratio calculated on the basis of such Mortgage Loan and additional debt. In the event that either (i) the CREFC®
Investor Reporting Package is amended to include such information set forth above, in a manner reasonably acceptable to
the Master Servicer, Special Servicer and Certificate Administrator, as applicable, and the Master Servicer confirms with the
Certificate Administrator that such amended CREFC® Investor Reporting Package enables the Certificate Administrator
to include such information on Form 10-D in a manner reasonably acceptable to the Certificate Administrator, or (ii) the Trust
is no longer subject to the Exchange Act, the additional report in the form of Exhibit KK shall no longer be required hereunder.
From time to time, the Master Servicer, Special Servicer and Certificate Administrator may agree on a different delivery time
and format for the information set forth in this paragraph.

 

(i)           Subject
to the consent rights and processes set forth in Section 6.07 with respect to Major Decisions, the Master Servicer shall
process all defeasances of Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced Companion Loans in
accordance with the terms of the related Mortgage Loan documents, and shall be entitled to any defeasance fees paid relating
thereto (provided, that for the avoidance of doubt, any such defeasance fee shall not include any Modification Fees or waiver
fees in connection with a defeasance that the Special Servicer is entitled to under this Agreement). Notwithstanding the
foregoing, the Master Servicer shall not permit (or, with regard to any Non-Serviced Mortgage Loan, take any act in
furtherance of) the substitution of any Mortgaged Property pursuant to the defeasance provisions of any Mortgage Loan or a
Serviced Whole Loan unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and the Master
Servicer has received (i) replacement collateral consisting of government securities within the meaning of Treasury
Regulations Section 1.860G-2(a)(8)(ii), which satisfies the requirements of the applicable Mortgage Loan documents, in
an amount sufficient to make all scheduled payments under the related Mortgage Loan (or defeased portion thereof) when due,
(ii) a certificate of an Independent certified public accountant to the effect that such substituted property will provide
cash flows sufficient to meet

 

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all payments of interest and principal (including payments at maturity) on such Mortgage Loan or Serviced
Whole Loan in compliance with the requirements of the terms of the related Mortgage Loan documents and, if applicable, Companion
Loan documents, (iii) one or more Opinions of Counsel (at the expense of the related Mortgagor) to the effect that the Trustee,
on behalf of the Trust Fund, will have a first priority perfected security interest in such substituted Mortgaged Property; provided,
however, that, to the extent consistent with the related Mortgage Loan documents and, if applicable, Companion Loan documents,
the related Mortgagor shall pay the cost of any such opinion as a condition to granting such defeasance, (iv) to the extent consistent
with the related Mortgage Loan documents and, if applicable, Companion Loan documents, the Mortgagor shall establish a single
purpose entity to act as a successor Mortgagor, if so required by the Rating Agencies, (v) to the extent permissible under the
related Mortgage Loan documents and, if applicable, Companion Loan documents, the Master Servicer shall use its reasonable efforts
to require the related Mortgagor to pay all costs of such defeasance, including but not limited to the cost of maintaining any
successor Mortgagor, and (vi) to the extent permissible under the Mortgage Loan documents and, if applicable, Companion Loan documents,
the Master Servicer shall obtain, at the expense of the related Mortgagor, Rating Agency Confirmation from each Rating Agency
and a confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.30); provided, further, however, that no such confirmation
from any Rating Agency shall be required to the extent that the Master Servicer has delivered a defeasance certificate substantially
in the form of Exhibit U hereto for any Mortgage Loan that (together with any Mortgage Loans cross-collateralized with
such Mortgage Loans) is: (i) a Mortgage Loan with a Cut-off Date Principal Balance less than $20,000,000, (ii) a Mortgage Loan
that represents less than 5% of the aggregate Cut-off Date Principal Balance of all Mortgage Loans a, and (iii) a Mortgage Loan
that is not one of the ten largest Mortgage Loans by Stated Principal Balance. Notwithstanding the foregoing, in the event that
requiring the Mortgagor to pay for the items specified in clauses (ii), (iv) and (v) in the preceding sentence
would be inconsistent with the related Mortgage Loan documents, such reasonable costs shall be paid by the related Mortgage Loan
Seller as and to the extent set forth in the applicable Mortgage Loan Purchase Agreement. In addition, notwithstanding the foregoing,
with respect to certain Mortgage Loans originated or acquired by RAIT that are subject to defeasance, RAIT, pursuant to its Mortgage
Loan Purchase Agreement, has transferred to a third party or has retained the right to establish or designate the successor borrower.
If the Master Servicer receives notice of a defeasance request with respect to an affected Mortgage Loan, the Master Servicer
shall provide, within five (5) Business Days of receipt of such notice, written notice of such defeasance request to RAIT at the
address and in the manner specified in Section 12.05 hereof, until such time as RAIT provides written notice to the contrary.

 

(j)           Notwithstanding
anything herein or in the related Mortgage Loan documents and, if applicable, Companion Loan documents, to the contrary, the
Master Servicer may permit the substitution of “government securities,” within the meaning of Section 2(a)(16) of
the Investment Company Act of 1940, that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii) for any Mortgaged
Property pursuant to the defeasance provisions of any Mortgage Loan or a Serviced Whole Loan, as applicable (or any portion
thereof), in lieu of the defeasance collateral specified in the related Mortgage Loan documents or Serviced Whole

 

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Loan documents, as applicable; provided that such substitution is consistent with the Servicing Standard
and the Master Servicer reasonably determines that allowing their use would not cause a default or event of default to become
reasonably foreseeable and the Master Servicer receives an Opinion of Counsel (at the expense of the Mortgagor to the extent permitted
under the Mortgage Loan documents and, if applicable, Companion Loan documents or otherwise as a Trust Fund expense) to the effect
that such use would not be and would not constitute a “significant modification” of such Mortgage Loan or Companion
Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise constitute an Adverse REMIC Event with respect
to either Trust REMIC; and provided, further, that the requirements set forth in Section 3.20(i) (including
receipt of any Rating Agency Confirmation) are satisfied; and provided, further, that such securities are backed
by the full faith and credit of the United States government, or the Master Servicer shall obtain Rating Agency Confirmation from
each Rating Agency and a confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that
such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30).

 

(k)           If
required under the related Mortgage Loan or Companion Loan documents or if otherwise consistent with the Servicing Standard, the
Master Servicer shall establish and maintain one or more accounts (the “Defeasance Accounts”), which shall
be Eligible Accounts, into which all payments received by the Master Servicer from any defeasance collateral substituted for any
Mortgaged Property shall be deposited and retained, and shall administer such Defeasance Accounts in accordance with the Mortgage
Loan or Companion Loan documents. Notwithstanding the foregoing, in no event shall the Master Servicer permit such amounts to
be maintained in the Defeasance Account for a period in excess of ninety (90) days, unless such amounts are reinvested by the
Master Servicer in “government securities,” within the meaning of Section 2(a)(16) of the Investment Company Act of
1940, that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii). To the extent not required or permitted to be placed in
a separate account, the Master Servicer shall deposit all payments received by it from defeasance collateral substituted for any
Mortgaged Property into the Certificate Account and treat any such payments as payments made on the Mortgage Loan or Companion
Loan in advance of its Due Date in accordance with clause (a)(i) of the definition of “Available Distribution Amount”,
and not as a prepayment of the related Mortgage Loan or Companion Loan. Notwithstanding anything herein to the contrary, in no
event shall the Master Servicer permit such amounts to be maintained in the Certificate Account for a period in excess of 365
days (or 366 days in the case of a leap year).

 

(l)           Notwithstanding
anything to the contrary in this Agreement, neither the Master Servicer nor the Special Servicer, as applicable, shall,
unless it has received Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating
agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any
class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.30) (the cost of which shall be paid by the related Mortgagor, if so allowed by the
terms of the related loan documents and otherwise paid out of general collections) grant or

 

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accept any consent, approval or direction regarding the termination of the related property manager or the
designation of any replacement property manager, with respect to any Mortgaged Property that secures a Mortgage Loan that (i)
is one of the ten largest Mortgage Loans by Stated Principal Balance or (ii) has an unpaid principal balance that is at least
equal to five percent (5%) of the then aggregate principal balance of all Mortgage Loans or $35,000,000.

 

(m)          Notwithstanding
anything to the contrary in this Agreement, in connection with any modification, waiver, consent or amendment in connection with
any defeasance transaction contemplated in the second sentence of Section 3.20(i), the Master Servicer shall not approve
any such modification, waiver, consent or amendment thereto without first having received an Opinion of Counsel that such modification,
waiver, consent or amendment will not cause an Adverse REMIC Event.

Section
3.21     Transfer of Servicing Between Master Servicer and Special Servicer; Recordkeeping; Asset
Status Report. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other
than any Non-Serviced Mortgage Loan) or Serviced Companion Loan, the Master Servicer or the Special Servicer, as applicable, shall
promptly give notice to the Master Servicer or the Special Servicer, as applicable, the Senior Trust Advisor and (prior to the
occurrence of a Consultation Termination Event) the Directing Certificateholder thereof, and the Master Servicer shall deliver
the related Mortgage File and Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File, exclusive
of all Privileged Communications, to the Senior Trust Advisor. The Master Servicer shall use its reasonable efforts to provide
the Special Servicer with all information, documents and records (including records stored electronically on computer tapes, magnetic
discs and the like) relating to such Mortgage Loan and, if applicable, the related Serviced Companion Loan, either in the Master
Servicer’s possession or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested
by the Special Servicer to enable it to assume its functions hereunder with respect thereto. The Master Servicer shall use its
reasonable efforts to comply with the preceding sentence within five (5) Business Days of the occurrence of each related Servicing
Transfer Event (or, in the case of clauses (viii), (ix) or (x) of the definition of Servicing Transfer Event, within five (5)
Business Days of receiving notice from the Special Servicer of such Servicing Transfer Event when the Special Servicer makes the
determination) and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and, if applicable,
the related Serviced Companion Loan(s) until the Special Servicer has commenced the servicing of such Mortgage Loan and, if applicable,
the related Serviced Companion Loan. The Master Servicer shall deliver to the Trustee, the Certificate Administrator, the Senior
Trust Advisor and (prior to the occurrence of a Consultation Termination Event) the Directing Certificateholder, a copy of the
notice of such Servicing Transfer Event provided by the Master Servicer to the Special Servicer, or by the Special Servicer to
the Master Servicer, pursuant to this Section 3.21. Prior to the occurrence of a Consultation Termination Event, the Certificate
Administrator shall deliver to each Controlling Class Certificateholder a copy of the notice of such Servicing Transfer Event
provided by the Master Servicer pursuant to this Section 3.21.

Upon
determining that a Specially Serviced Mortgage Loan (other than an REO Loan) has become current and has remained current for three
consecutive Monthly Payments (provided that (i) no additional Servicing Transfer Event is foreseeable in the reasonable

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judgment
of the Special Servicer, and (ii) for such purposes taking into account any modification or amendment of such Mortgage Loan and,
if applicable, the related Companion Loan), and that no other Servicing Transfer Event is continuing with respect thereto, the
Special Servicer shall immediately give notice thereof to the Master Servicer, the Senior Trust Advisor, the related Serviced
Companion Noteholder (unless with respect to an AB Subordinate Companion Loan related to a Serviced AB Whole Loan, an AB Control
Appraisal Period has occurred) and (prior to the occurrence of a Consultation Termination Event) the Directing Certificateholder
and shall return the related Mortgage File and Servicing File to the Master Servicer (or copies thereof if copies only were delivered
to the Special Servicer) and upon giving such notice, and returning such Mortgage File and Servicing File to the Master Servicer,
the Special Servicer’s obligation to service such Corrected Mortgage Loan shall terminate and the obligations of the Master
Servicer to service and administer such Mortgage Loan and, if applicable, the related Companion Loan shall recommence.

(b)         In
servicing any Specially Serviced Mortgage Loans and Serviced Companion Loans, the Special Servicer will provide to the Custodian
originals of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage File
to the extent within its possession (with a copy of each such original to the Master Servicer), and provide the Master Servicer
with copies of any additional related Mortgage Loan or Serviced Companion Loan information including correspondence with the related
Mortgagor.

(c)           Notwithstanding
the provisions of Section 3.12(d), the Master Servicer shall maintain ongoing payment records with respect to each of the
Specially Serviced Mortgage Loans, Serviced Companion Loans and REO Properties (other than with respect to a Non-Serviced Mortgage
Loan) and shall provide the Special Servicer with any information in its possession with respect to such records to enable the
Special Servicer to perform its duties under this Agreement; provided that this statement shall not be construed to require
the Master Servicer to produce any additional reports.

(d)          No
later than sixty (60) days after a Servicing Transfer Event for a Mortgage Loan (other than a Non-Serviced Mortgage Loan) and,
if applicable, the related Companion Loan, the Special Servicer shall deliver in electronic format a report (the “Asset
Status Report”) with respect to such Mortgage Loan and related Companion Loan, and the related Mortgaged Property to
the Master Servicer, the Trustee, the Certificate Administrator, the Directing Certificateholder (prior to the occurrence of a
Consultation Termination Event), the Senior Trust Advisor (after the occurrence and during the continuance of a Control Event)
and the 17g-5 Information Provider (which shall promptly post such report on the 17g-5 Information Provider’s Website in
accordance with Section 3.15(c)) and, with respect to any related Serviced Companion Loan, to the extent the related Serviced
Companion Loan has been included in an Other Securitization, to the master servicer of such Other Securitization into which the
related Serviced Companion Loan has been sold or to the related Companion Holder. Such Asset Status Report shall set forth the
following information to the extent reasonably determinable based on the information that was delivered to the Special Servicer
in connection with the transfer of servicing pursuant to the Servicing Transfer Event:

(i)           summary
of the status of such Specially Serviced Mortgage Loan and any negotiations with the related Mortgagor;

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(ii)          a
discussion of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing
Standard, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other
collateral for the related Mortgage Loan (and any related Serviced Companion Loan) and whether outside legal counsel has been
retained;

(iii)         the
most current rent roll and income or operating statement available for the related Mortgaged Property;

(iv)         the
Special Servicer’s recommendations on how such Specially Serviced Mortgage Loan might be returned to performing status and
returned to the Master Servicer for regular servicing or otherwise realized upon;

(v)         a
copy of the last obtained Appraisal of the Mortgaged Property; and

(vi)        such
other information as the Special Servicer deems relevant in light of the Servicing Standard.

If
within ten (10) Business Days of receiving an Asset Status Report, the Directing Certificateholder does not disapprove such Asset
Status Report in writing, the Special Servicer shall implement the recommended action as outlined in such Asset Status Report;
provided, however, that the Special Servicer may not take any action that is contrary to applicable law, the Servicing
Standard or the terms of the applicable Mortgage Loan documents. If, prior to the occurrence and continuance of any Control Event,
the Directing Certificateholder disapproves such Asset Status Report within ten (10) Business Days of receipt, the Special Servicer
shall revise such Asset Status Report and deliver a new Asset Status Report as soon as practicable, but in no event later than
thirty (30) days after such disapproval, to the Directing Certificateholder, the Master Servicer, the Trustee, the Certificate
Administrator, the related Companion Holder (if applicable, only to the extent such Companion Holder is not subject to an AB Control
Appraisal Period) and the 17g-5 Information Provider (which shall promptly post such revised Asset Status Report on the 17g-5
Information Provider’s Website in accordance with Section 3.15(c)). Prior to the occurrence and continuance of any
Control Event, the Special Servicer shall revise such Asset Status Report as described above in this Section 3.21(d) until
the Directing Certificateholder shall fail to disapprove such revised Asset Status Report in writing within ten (10) Business
Days of receiving such revised Asset Status Report or until the Special Servicer makes one of the determinations described below.
The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and implement such report;
provided that such report shall have been prepared, reviewed and not rejected pursuant to the terms of this Section
3.21(d). Notwithstanding the foregoing, the Special Servicer (A) may, following the occurrence of an extraordinary event with
respect to the related Mortgaged Property, take any action set forth in such Asset Status Report (subject to the rights of a related
Companion Holder to advise the Special Servicer with respect to, or, if applicable, consent to, such action, in each case, pursuant
to the terms of the related Intercreditor Agreement) before the expiration of a ten (10) Business Day period if the Special Servicer
has reasonably determined that failure to take such action would materially and adversely affect the interests of the Certificateholders
or, if a Serviced Whole Loan is involved, the related Companion Holder, and it has made a reasonable effort (prior to the occurrence
and continuance of a Control Event) to

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contact
the Directing Certificateholder and (B) in any case, shall determine whether such affirmative disapproval is not in the best interest
of all the Certificateholders pursuant to the Servicing Standard and upon such determination shall implement the action recommended
in the Asset Status Report notwithstanding any affirmative disapproval of the Asset Status Report; provided, however,
that such Asset Status Report does not, and is not intended to be, a substitute for the approvals that are specifically required
pursuant to Section 6.07.

No
direction or disapproval of the Directing Certificateholder hereunder or under a related Intercreditor Agreement or failure
of the Directing Certificateholder to consent to or approve (including any deemed consents or approvals) any request of the
Special Servicer, shall (a) require or cause the Special Servicer to violate the terms of a Specially Serviced Mortgage Loan,
applicable law or any provision of this Agreement, including the Special Servicer’s obligation to act in accordance
with the Servicing Standard and to maintain the REMIC status of each Trust REMIC and the grantor trust status of the
Grantor Trust, or (b) result in the imposition of a “prohibited transaction” or “prohibited
contribution” tax under the REMIC Provisions, or (c) expose the Master Servicer, the Special Servicer, the Depositor,
the Senior Trust Advisor, the Mortgage Loan Sellers, the Trust Fund, the Trustee, the Certificate Administrator or their
respective officers, directors, members, employees or agents to any claim, suit or liability or (d) materially expand the
scope of the Special Servicer’s, Trustee’s or the Master Servicer’s responsibilities under this
Agreement.

Notwithstanding
the foregoing, prior to the occurrence and continuance of an AB Control Appraisal Period with respect to an AB Subordinate Companion
Loan, the Special Servicer shall prepare an Asset Status Report for any Serviced AB Whole Loan, upon it becoming a Specially Serviced
Mortgage Loan pursuant to this Agreement and the related Intercreditor Agreement, but the Directing Certificateholder will have
no approval rights over any such Asset Status Report, and the consent or approval rights with respect to such Asset Status Report
shall be as set forth in the related Intercreditor Agreement.

Notwithstanding
anything to the contrary herein, (i) the Directing Certificateholder (other than in its capacity as a Certificateholder) and the
Senior Trust Advisor may only consult, to the extent it has consultation rights pursuant to the terms of this Agreement, with
the Special Servicer in connection with, or provide any consent to, any Asset Status Report related to a Serviced AB Whole Loan
for which the related holder of an AB Subordinate Companion Loan is subject to an AB Control Appraisal Period, and (ii) after
the occurrence and during the continuance of a Control Event, the Special Servicer shall consult with the Senior Trust Advisor
in connection with each Asset Status Report prior to finalizing and executing such Asset Status Report and the Senior Trust Advisor
shall propose, by written notice, alternative courses of action within ten (10) Business Days following the later of: (i) receipt
of each Asset Status Report or (ii) receipt of additional information reasonably requested by the Senior Trust Advisor related
thereto, only to the extent the Senior Trust Advisor determines such alternatives to be in the best interest of the Certificateholders
(including any Certificateholders that are Holders of the Control Eligible Certificates), as a collective whole. In addition,
after the occurrence and during the continuance of a Control Event, but prior to the occurrence of a Consultation Termination
Event, the Special Servicer shall also consult with the Directing Certificateholder in connection with each Asset Status Report
prior to finalizing and executing such Asset Status Report and the Directing Certificateholder shall be permitted to propose

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alternative
courses of action within ten (10) Business Days of receipt of each Asset Status Report. The Special Servicer shall consider any
such proposals from the Senior Trust Advisor and/or the Directing Certificateholder and determine whether any changes to its proposed
Asset Status Report should be made, such determination being made in accordance with the Servicing Standard and the other terms
of this Agreement. In the event that the Senior Trust Advisor or the Directing Certificateholder, as the case may be, does not
respond to the Special Servicer within ten (10) Business Days after receipt of such Asset Status Report, the Special Servicer
shall implement the Asset Status Report as proposed by the Special Servicer; provided that such ten (10) Business Day period
shall not begin until the Senior Trust Advisor is furnished all additional information that it reasonably requests from the Special
Servicer in connection with the Senior Trust Advisor’s review of an Asset Status Report. 

After
the occurrence of a Consultation Termination Event, the Directing Certificateholder (other than in its capacity as a Certificateholder)
shall have no right to receive any Asset Status Report or otherwise consult with the Special Servicer with respect to any matter
set forth therein. After the occurrence and during the continuance of a Control Event, the Directing Certificateholder shall have
no right to consent to any Asset Status Report under this Section 3.21.

(e)          (i)
Upon receiving notice of the occurrence of the events described in clause (iv) or clause (x) of the definition of
Servicing Transfer Event (without regard to the 60-day or 30-day period, respectively, set forth therein), the Master Servicer
shall with reasonable promptness give notice thereof, and shall use its reasonable efforts to provide the Special Servicer with
all information relating to the Mortgage Loan or Serviced Companion Loan and reasonably requested by the Special Servicer to enable
it to negotiate with the related Mortgagor. The Master Servicer shall use its reasonable efforts to comply with the preceding
sentence within five (5) Business Days of the occurrence of each such event.

(ii)          After
the occurrence and during the continuance of a Control Event, upon receiving notice of the occurrence of an event described in
clause (iv) or (x) of the definition of Servicing Transfer Event (without regard to the 60-day or 30-day period,
respectively, set forth therein), the Master Servicer shall deliver notice thereof to the Senior Trust Advisor at the same time
such notice is provided to the Special Servicer pursuant to clause (i) above.

(f)          Prior
to the occurrence and continuance of a Control Event, no later than two (2) Business Days following the establishment of a Final
Asset Status Report with respect to any Specially Serviced Mortgage Loan, the Special Servicer shall deliver in electronic format
to the Directing Certificateholder a draft notice that will include a draft summary of the Final Asset Status Report (which briefly
summarizes such Final Asset Status Report, but shall not include any Privileged Information) (and shall deliver each Final Asset
Status Report with respect to any Serviced AB Mortgage Loan prior to the occurrence and continuance of an AB Control Appraisal
Period (to the extent approved by the related AB Whole Loan Controlling Holder), to the Directing Certificateholder). If, prior
to the occurrence and continuance of a Control Event, within five (5) Business Days of receipt of such draft summary, the Directing
Certificateholder approves of, or does not disapprove of such draft summary, then the Special Servicer shall deliver in electronic
format such notice and summary of the Final Asset Status Report to the

 

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Certificate
Administrator for posting on the Certificate Administrator’s Website pursuant to Section 3.15(b). If the
Directing Certificateholder affirmatively disapproves of such summary in writing, then within two (2) Business Days of
receipt of such disapproval, the Special Servicer shall revise the summary and deliver such new summary to the Directing
Certificateholder until the Directing Certificateholder approves such draft summary; provided, however, that if
the Directing Certificateholder has not approved of the draft summary of the Asset Status Report within twenty (20) Business
Days of receipt of the initial draft summary of the Asset Status Report, then the most recent draft summary of the Asset
Status Report delivered by the Special Servicer prior to such 20th Business Day shall be deemed to be the final summary of
the Asset Status Report; provided, further, however, that if at any time the Special Servicer determines
that any affirmative disapproval of such draft summary by the Directing Certificateholder is not in the best interest of all
the Certificateholders pursuant to the Servicing Standard, the Special Servicer shall deliver in electronic format
such notice and summary of the Final Asset Status Report to the Certificate Administrator for posting on the Certificate
Administrator’s Website pursuant to Section 3.15(b) notwithstanding such disapproval. The Special Servicer shall
promptly deliver (but in any event no later than two (2) Business Days following its completion) a copy of each Final Asset
Status Report to the Senior Trust Advisor. The Special Servicer shall prepare a summary of any Final Asset Status Report
related to any Serviced AB Whole Loan for which the related holder of an AB Subordinate Companion Loan is not subject to an
AB Control Appraisal Period, which such Final Asset Status Report has been approved or deemed approved by the holder of the
related AB Subordinate Companion Loan, in accordance with the related Intercreditor Agreement (to the extent such
Intercreditor Agreement requires such approval or deemed approval), and deliver in electronic format notice of such
Final Asset Status Report and the summary of such Final Asset Status Report to the Certificate Administrator for posting on
the Certificate Administrator’s Website pursuant to Section 3.15(b).

(g)         No
provision of this Section 3.21 shall require the Special Servicer to take or to refrain from taking any action because
of any proposal, objection or comment by the Senior Trust Advisor or a recommendation of the Senior Trust Advisor.

Section
3.22     Sub-Servicing Agreements.

(a)
 The Master Servicer and Special Servicer may enter into Sub-Servicing Agreements to provide for the performance by third
parties of any or all of its respective obligations hereunder; provided that the Sub-Servicing Agreement as amended or
modified: (i) is consistent with this Agreement in all material respects and requires the Sub-Servicer to comply with all of the
applicable conditions of this Agreement; (ii) provides that if the Master Servicer or Special Servicer, as applicable, shall for
any reason no longer act in such capacity hereunder (including, without limitation, by reason of a Servicer Termination Event),
the Trustee or its designee shall thereupon assume all of the rights and, except to the extent they arose prior to the date of
assumption, obligations of such party under such agreement, or, alternatively, may act in accordance with Section 7.02
hereof under the circumstances described therein (subject to Section 3.22(g) hereof); (iii) provides that the Trustee (for
the benefit of the Certificateholders and the related Companion Holder (if applicable) and the Trustee (as holder of the Uncertificated
Lower-Tier Interests) shall be a third party beneficiary under such Sub-Servicing Agreement, but that (except to the extent the
Trustee or its designee assumes the obligations of such party thereunder as contemplated by the immediately preceding clause
(ii)) none of the Trust Fund, the

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 Trustee,
the Senior Trust Advisor, the Certificate Administrator, the Master Servicer or Special Servicer, as applicable, any
successor master servicer or special servicer or any Certificateholder (or the related Companion Holder, if applicable) shall
have any duties under such Sub-Servicing Agreement or any liabilities arising therefrom; (iv) permits any purchaser of a
Mortgage Loan pursuant to this Agreement to terminate such Sub-Servicing Agreement with respect to such purchased Mortgage
Loan at its option and without penalty; provided, however, that the Initial Sub-Servicing Agreements may only
be terminated by the Trustee or its designees as contemplated by Section 3.22(g) hereof and in such additional manner
and by such other Persons as is provided in such Sub-Servicing Agreement; (v) does not permit the Sub-Servicer any direct
rights of indemnification that may be satisfied out of assets of the Trust Fund; (vi) does not permit the Sub-Servicer to
modify any Mortgage Loan unless and to the extent the Master Servicer or Special Servicer, as applicable, is permitted
hereunder to modify such Mortgage Loan; (vii) with respect to any Sub-Servicing Agreement entered into after the
Closing Date, if such Sub-Servicer is a Servicing Function Participant or an Additional Servicer, such Sub-Servicer, at the
time the related Sub-Servicing Agreement is entered into, is not a Prohibited Party and (viii) provides that the Sub-Servicer
shall be in default under the related Sub-Servicing Agreement and such Sub-Servicing Agreement shall be terminated (following
the expiration of any applicable grace period) if the Sub-Servicer fails (A) to deliver by the due date any Exchange Act
reporting items required to be delivered to the Master Servicer under Article XI or under the Sub-Servicing Agreement
or to the master servicer under any other pooling and servicing agreement that the Depositor is a party to, or (B) to perform
in any material respect any of its covenants or obligations contained in the Sub-Servicing Agreement regarding creating,
obtaining or delivering any Exchange Act reporting items required for any party to this Agreement to perform its obligations
under Article XI or under the Exchange Act reporting items required under any other pooling and servicing agreement
that the Depositor is a party to. Any successor master servicer or special servicer, as applicable, hereunder shall, upon
becoming successor master servicer or special servicer, as applicable, be assigned and shall assume any Sub-Servicing
Agreements from the predecessor Master Servicer or Special Servicer, as applicable (subject to Section 3.22(g)
hereof). In addition, each Sub-Servicing Agreement entered into by the Master Servicer may but need not provide that the
obligations of the Sub-Servicer thereunder shall terminate with respect to any Mortgage Loan serviced thereunder at the time
such Mortgage Loan becomes a Specially Serviced Mortgage Loan; provided, however, that the Sub-Servicing
Agreement may provide (if the Sub-Servicing Agreement provides for Advances by the Sub-Servicer, although it need not so
provide) that the Sub-Servicer will continue to make all Advances and calculations and prepare all reports required under the
Sub-Servicing Agreement with respect to Specially Serviced Mortgage Loans and continue to collect its Primary Servicing Fees
as if no Servicing Transfer Event had occurred and with respect to REO Properties (and the related REO Loans) as if no REO
Acquisition had occurred and to render such incidental services with respect to such Specially Serviced Mortgage Loans and
REO Properties as are specifically provided for in such Sub-Servicing Agreement. The Master Servicer or Special Servicer, as
applicable, shall deliver to the Trustee copies of all Sub-Servicing Agreements, and any amendments thereto and modifications
thereof, entered into by it, in each case promptly upon its execution and delivery of such documents. References in this
Agreement to actions taken or to be taken by the Master Servicer include actions taken or to be taken by a Sub-Servicer on
behalf of the Master Servicer; and, in connection therewith, all amounts advanced by any Sub-Servicer (if the Sub-Servicing
Agreement provides for Advances

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by the
Sub-Servicer, although it need not so provide) to satisfy the obligations of the Master Servicer hereunder to make Advances
shall be deemed to have been advanced by the Master Servicer out of its own funds and, accordingly, in such event, such
Advances shall be recoverable by such Sub-Servicer in the same manner and out of the same funds as if such Sub-Servicer were
the Master Servicer, and, for so long as they are outstanding, such Advances shall accrue interest in accordance with Section
3.03(d), such interest to be allocable between the Master Servicer and such Sub-Servicer as may be provided (if at all)
pursuant to the terms of the Sub-Servicing Agreement. For purposes of this Agreement, the Master Servicer shall be deemed to
have received any payment when a Sub-Servicer retained by it receives such payment. The Master Servicer or Special Servicer,
as applicable, shall notify the Master Servicer or the Special Servicer, as applicable, the Trustee and the Depositor (and
the Special Servicer shall notify the Senior Trust Advisor) in writing promptly of the appointment by it of any Sub-Servicer,
except that the Master Servicer need not provide such notice as to the Initial Sub-Servicing Agreements.

(b)         Each
Sub-Servicer shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to
service are situated, if and to the extent required by applicable law to the extent necessary to ensure the enforceability of
the related Mortgage Loans or the compliance with its obligations under the Sub-Servicing Agreement and the Master Servicer’s
obligations under this Agreement.

(c)           As
part of its servicing activities hereunder, the Master Servicer for the benefit of the Trustee and the Certificateholders, shall
(at no expense to the Trustee, the Certificateholders or the Trust Fund) monitor the performance and enforce the obligations of
each Sub-Servicer under the related Sub-Servicing Agreement, except that the Master Servicer shall be required only to use reasonable
efforts to cause any Initial Sub-Servicer to comply with the requirements of Article XI hereof. Such enforcement, including,
without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements in accordance with their respective
terms and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time
as is in accordance with the Servicing Standard. The Master Servicer shall have the right to remove a Sub-Servicer retained by
it in accordance with the terms of the related Sub-Servicing Agreement.

(d)         In
the event the Trustee or its designee becomes successor master servicer and assumes the rights and obligations of the Master Servicer
under any Sub-Servicing Agreement, the Master Servicer, at its expense, shall deliver to the assuming party all documents and
records relating to such Sub-Servicing Agreement and the Mortgage Loans and, if applicable, the Companion Loans then being serviced
thereunder and an accounting of amounts collected and held on behalf of it thereunder, and otherwise use reasonable efforts to
effect the orderly and efficient transfer of the Sub-Servicing Agreement to the assuming party.

(e)          Notwithstanding
the provisions of any Sub-Servicing Agreement and this Section 3.22, except to the extent provided in Article XI
with respect to the obligations of any Sub-Servicer that is an Initial Sub-Servicer, the Master Servicer shall remain obligated
and responsible to the Trustee, the Special Servicer, holders of the Companion Loans serviced hereunder and the Certificateholders
for the performance of its obligations and duties under this Agreement in accordance with the provisions hereof to the same extent
and under the same terms and conditions as if it alone were servicing and administering the Mortgage Loans for which it is

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responsible,
and the Master Servicer shall pay the fees of any Sub-Servicer thereunder as and when due from its own funds. In no event shall
the Trust Fund bear any termination fee required to be paid to any Sub-Servicer as a result of such Sub-Servicer’s termination
under any Sub-Servicing Agreement.

(f)          The
Trustee, upon the request of the Master Servicer, shall furnish to any Sub-Servicer any documents necessary or appropriate to
enable such Sub-Servicer to carry out its servicing and administrative duties under any Sub-Servicing Agreement.

(g)         Each
Sub-Servicing Agreement shall provide that, in the event the Trustee or any other Person becomes successor master servicer,
the Trustee or such successor master servicer shall have the right to terminate such Sub-Servicing Agreement with or
without cause and without a fee. Notwithstanding the foregoing or any other contrary provision in this Agreement, the Trustee
and any successor master servicer shall assume each Initial Sub-Servicing Agreement and (i) the Initial Sub-Servicer’s
rights and obligations under the Initial Sub-Servicing Agreement shall expressly survive a termination of the Master
Servicer’s servicing rights under this Agreement; provided that the Initial Sub-Servicing Agreement has not been
terminated in accordance with its provisions; (ii) any successor master servicer, including, without limitation, the Trustee
(if it assumes the servicing obligations of the Master Servicer) shall be deemed to automatically assume and agree to the
then-current Initial Sub-Servicing Agreement without further action upon becoming the successor master servicer and (iii)
this Agreement may not be modified in any manner which would increase the obligations or limit the rights of the Initial
Sub-Servicer hereunder and/or under the Initial Sub-Servicing Agreement, without the prior written consent of the Initial
Sub-Servicer (which consent shall not be unreasonably withheld).

(h)          With
respect to Mortgage Loans subject to a Sub-Servicing Agreement with the Master Servicer, the Special Servicer shall, upon request
(such request to be made reasonably in advance as appropriate to the circumstances surrounding such request) of the related Sub-Servicer,
reasonably cooperate in delivering reports and information, including remittance information, and affording access to information
to the related Sub-Servicer that would be required to be delivered or afforded, as the case may be, to the Master Servicer pursuant
to the terms hereof.

(i)          Notwithstanding
any other provision of this Agreement, the Special Servicer shall not enter into any Sub-Servicing Agreement which provides for
the performance by third parties of any or all of its obligations herein, without, prior to the occurrence and continuance of
any Control Event, the consent of the Directing Certificateholder, except to the extent necessary for the Special Servicer to
comply with applicable regulatory requirements.

Notwithstanding
anything to the contrary herein, no Sub-Servicer shall be permitted under any Sub-Servicing Agreement to make material servicing
decisions, such as loan modifications or determinations as to the manner or timing of enforcing remedies under the Mortgage Loan
documents without the consent of the Master Servicer or Special Servicer, as applicable.

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Section
3.23    Representations, Warranties and Covenants of the Master Servicer.

(a)         The
Master Servicer hereby represents, warrants and covenants to the Trustee, for its own benefit and the benefit of the Certificateholders,
each Serviced Companion Noteholder, the Depositor, the Certificate Administrator, the Special Servicer and the Senior Trust Advisor,
as of the Closing Date, that:

(i)           The
Master Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America, and the Master Servicer is in compliance with the laws of each State in which any Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

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

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

(iv)        This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject to (A)
applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in
equity or at law;

(v)          The
Master Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with
the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order
regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Master Servicer’s
good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Master Servicer to
perform its obligations under this Agreement or the financial condition of the Master Servicer;

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

(vii)       The
Master Servicer has errors and omissions insurance coverage that is in full force and effect or is self-insuring with respect
to such risks, which in either case complies with the requirements of Section 3.07 hereof; and

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

(b)           The
representations and warranties set forth in subsection (a) above shall survive the execution and delivery of the Agreement.

Section
3.24    Representations, Warranties and Covenants of the Special Servicer. (a) The Special Servicer
hereby represents, warrants and covenants to the Trustee, for its own benefit and the benefit of the Certificateholders, each
Serviced Companion Noteholder, the Depositor, the Certificate Administrator, the Master Servicer and the Senior Trust Advisor,
as of the Closing Date, that:

(i)            The
Special Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America, and the Special Servicer is in compliance with the laws of each State in which any Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

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

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

(iv)         This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Special Servicer, enforceable against the Special Servicer in accordance with the terms hereof, subject to (A)
applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in
equity or at law; 

(v)          The
Special Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with
the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order
regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Special Servicer’s
good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Special Servicer to
perform its obligations under this Agreement or the financial condition of the Special Servicer;

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

(vii)        The
Special Servicer has errors and omissions coverage which is in full force and effect or is self-insuring with respect to such
risks, which in either case complies with the requirements of Section 3.07 hereof; and

(viii)      No
consent, approval, authorization or order of any court or governmental agency or body is required under federal or state law for
the execution, delivery and performance by the Special Servicer of, or compliance by the Special Servicer with, this Agreement
or the consummation of the transactions of the Special Servicer contemplated by this Agreement, except for any consent, approval,
authorization or order which has been obtained or can be obtained prior to the actual performance by the Special Servicer of its
obligations under this Agreement, or which, if not obtained would not have a materially adverse effect on the ability of the Special
Servicer to perform its obligations hereunder.

(b)          The
representations and warranties set forth in subsection (a) above shall survive the execution and delivery of the Agreement.

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Section
3.25     Interest Reserve Account.

(a)
On the P&I Advance Date occurring in each February and in any January that occurs in a year that is not a leap year (in each
case, unless the related Distribution Date is the final Distribution Date), the Certificate Administrator, in respect of the Actual/360
Mortgage Loans, shall deposit into the Interest Reserve Account, an amount equal to one (1) day’s interest on the Stated
Principal Balance of the Interest Reserve Loans as of the Due Date occurring in the month preceding the month in which such P&I
Advance Date occurs at the related Net Mortgage Rate, to the extent a full Monthly Payment or P&I Advance is made in respect
thereof (all amounts so deposited in any consecutive February and January, “Withheld Amounts”).

(b)         On
each P&I Advance Date occurring in March (or February, if the related Distribution Date is the final Distribution Date),
the Certificate Administrator shall withdraw, from the Interest Reserve Account an amount equal to the Withheld Amounts from
the preceding January (if applicable) and February, if any, and deposit such amount into the Lower-Tier REMIC
Distribution Account.

Section
3.26    [Reserved.] 

Section
3.27    Directing Certificateholder and Senior Trust Advisor Contact with Master Servicer and Special Servicer.
Within a reasonable time upon request from the Directing Certificateholder or the Senior Trust Advisor, as applicable, and no
more often than on a monthly basis, each of the Master Servicer and the Special Servicer shall, without charge, make a knowledgeable
Servicing Officer via telephone available to verbally answer questions from (a) prior to the occurrence of a Consultation Termination
Event, the Directing Certificateholder and (b) upon the occurrence and during the continuance of any Control Event, the Senior
Trust Advisor (with respect to the Special Servicer only), regarding the performance and servicing of the Mortgage Loans and/or
REO Properties for which the Master Servicer or the Special Servicer, as the case may be, is responsible.

Section
3.28    Controlling Class Certificateholders and Directing Certificateholder; Certain Rights and Powers
of Directing Certificateholder. (a) Each Controlling Class Certificateholder is hereby deemed to have agreed by virtue of
its purchase of a Certificate to provide its name and address to the Certificate Administrator and to notify the Master Servicer,
the Certificate Administrator, the Special Servicer and the Senior Trust Advisor of the transfer of any Certificate of a Controlling
Class by delivering a notice to each such Person substantially in the form of Exhibit NN attached hereto, the selection
of a Directing Certificateholder or the resignation or removal thereof. The Directing Certificateholder is hereby deemed to have
agreed by virtue of its purchase of a Certificate to notify the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee and the Senior Trust Advisor when such Certificateholder is appointed Directing Certificateholder and when it is removed
or resigns. To the extent there is only one Controlling Class Certificateholder and it is also the Special Servicer, it shall
be the Directing Certificateholder.

(b)         Once
a Directing Certificateholder has been selected, each of the Master Servicer, the Special Servicer, the Depositor, the Trustee,
the Certificate Administrator, the Senior Trust Advisor and each other Certificateholder (or Certificate Owner, if applicable)
shall

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be
entitled to rely on such selection unless the Controlling Class Certificateholders entitled to appoint the Directing
Certificateholder, by Certificate Balance, or such Directing Certificateholder shall have notified the Master Servicer,
Special Servicer, the Trustee, the Certificate Administrator, the Senior Trust Advisor and each other Controlling Class
Certificateholder, in writing, of the resignation of such Directing Certificateholder or the selection of a new Directing
Certificateholder. Upon the resignation of a Directing Certificateholder, the Certificate Administrator shall request the
Controlling Class Certificateholders to select a new Directing Certificateholder. In the event that (i) the Master Servicer,
the Certificate Administrator, the Special Servicer, the Trustee and the Senior Trust Advisor receives a written notice from
a majority of the Controlling Class Certificateholders that a Directing Certificateholder is no longer designated and (ii)
the Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or a
representative thereof) becomes the Directing Certificateholder pursuant to the first proviso of the definition of
“Directing Certificateholder”, then the Controlling Class Certificateholder that owns the largest
aggregate Certificate Balance of the Controlling Class (or its representative) shall provide its name and address to the
Certificate Administrator and notify the Master Servicer, the Certificate Administrator, the Special Servicer, the Trustee
and the Senior Trust Advisor that it is the new Directing Certificateholder; provided that the Master Servicer, the
Certificate Administrator, the Special Servicer, the Trustee and the Senior Trust Advisor shall be entitled to rely on
the written notification provided by the purported Controlling Class Certificateholder that owns the largest aggregate
Certificate Balance of the Controlling Class without independently verifying that such Controlling Class Certificateholder
actually owns the largest aggregate Certificate Balance of the Controlling Class unless the parties hereto receive notice to
the contrary within thirty (30) days from the date the Initial Notice (as defined below) is delivered to the applicable party
by the Certificate Administrator, it being acknowledged that prior to the expiration of such 30-day period, the Master
Servicer, the Certificate Administrator, the Special Servicer, the Trustee and the Senior Trust Advisor shall proceed as if
there is no Directing Certificateholder. Upon receipt of such written assertion, the Certificate Administrator shall deliver
a notice (the “Initial Notice”) to all the Certificateholders via DTC of such assertion (and a copy of
such Initial Notice shall be simultaneously sent to each of the Master Servicer, the Special Servicer, the Trustee and the
Senior Trust Advisor) and so long as another party holding an equal or larger aggregate Certificate Balance of the
Controlling Class does not provide a written assertion within thirty (30) days from the date of delivery of the Initial
Notice, the party making the original assertion shall become the Directing Certificateholder until replaced by another party
pursuant to the terms of this Agreement.

(c)         Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Senior
Trust Advisor and the Trustee shall be entitled to rely on the most recent notification with respect to the identity of the Controlling
Class Certificateholder and the Directing Certificateholder.

(d)         In
the event that no Directing Certificateholder has been appointed or identified to the Master Servicer or the Special Servicer,
as applicable, and the Master Servicer or Special Servicer, as applicable, has attempted to obtain such information from the Certificate
Administrator and no such entity has been identified to the Master Servicer or the Special Servicer, as applicable, then until
such time as the new Directing Certificateholder is identified, the Master Servicer or the Special Servicer, as applicable, shall
have no duty to consult with,

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provide notice to, or seek the approval or consent of any such Directing Certificateholder as the
case may be.

(e)         Upon
request, the Certificate Administrator shall deliver to the Depositor, Trustee, the Special Servicer, the Senior Trust Advisor,
the Master Servicer and, prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder, a list
of each Controlling Class Certificateholder as reflected in the Certificate Registrar, including names and addresses. In addition
to the foregoing, within five (5) Business Days of receiving notice of the selection of a new Directing Certificateholder or the
existence of a new Controlling Class Certificateholder, the Certificate Administrator shall notify the Trustee, the Senior Trust
Advisor, the Master Servicer and the Special Servicer. Notwithstanding the foregoing, BlackRock Realty Advisors, Inc. shall be
the initial Directing Certificateholder and shall remain so until a successor is appointed pursuant to the terms of this Agreement
or until a Consultation Termination Event occurs.

Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Certificate
Administrator and the Trustee shall be entitled to rely on the preceding sentence with respect to the identity of the Directing
Certificateholder.

(f)         If
to the extent the Certificate Administrator determines that a Class of Book-Entry Certificates is the Controlling Class, the Certificate
Administrator shall notify the related Certificateholders of such Class (through the Depository) of the Class becoming the Controlling
Class.

(g)         Each
Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that: (i) the Directing Certificateholder may
have special relationships and interests that conflict with those of Holders of one or more Classes of Certificates; (ii) the
Directing Certificateholder may act solely in the interests of the Holders of the Controlling Class; (iii) the Directing Certificateholder
does not have any liability or duties to the Holders of any Class of Certificates other than the Controlling Class; (iv) the Directing
Certificateholder may take actions that favor interests of the Holders of the Controlling Class over the interests of the Holders
of one or more other Classes of Certificates; and (v) the Directing Certificateholder shall have no liability whatsoever (other
than to a Controlling Class Certificateholder) for having so acted, and no Certificateholder may take any action whatsoever against
the Directing Certificateholder or any director, officer, employee, agent or principal thereof for having so acted.

(h)         All
requirements of the Master Servicer and the Special Servicer to provide notices, reports, statements or other information (including
the access to information on a website) to the Directing Certificateholder contained in this Agreement shall also apply to each
Companion Holder with respect to information relating to the related Serviced AB Mortgage Loan or a Serviced Whole Loan, as applicable.

(i)          Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee
and the Senior Trust Advisor shall be entitled to rely on the most recent notification with respect to the identity and contact

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information of the Controlling Class Certificateholder, the Directing Certificateholder and any AB Whole Loan Controlling Holder.

(j)          With
respect to a Serviced Whole Loan and any approval and consent rights in this Agreement with respect to such Serviced Whole Loan,
the related Serviced Whole Loan Controlling Holder shall exercise such rights in accordance with the related Intercreditor Agreement
and this Agreement.

(k)         The
Certificate Registrar shall determine which Class of Certificates is the then-current Controlling Class within two (2) Business
Days of a request from the Master Servicer, Special Servicer, Certificate Administrator, Trustee, or any Certificateholder and
provide such information to the requesting party.

(l)          At
any time that the Controlling Class Certificateholder is the holder of a majority of the Class E Certificates and the Class
E Certificates are the Controlling Class, it may waive its right (a) to appoint the Directing Certificateholder and (b) to
exercise any of the Directing Certificateholder’s rights under this Agreement by irrevocable written notice
delivered to the Depositor, the Certificate Administrator (which shall be via email to
trustadministrationgroup@wellsfargo.com), the Master Servicer, the Special Servicer and the Senior Trust Advisor.
Notwithstanding anything to the contrary contained herein, during such time as a Control Event or Consultation Termination
Event is in existence solely as a result of the operation of clause (ii) of the definition of Control Event and clause
(ii) of the definition of Consultation Termination Event, such Control Event or Consultation Termination Event shall be
deemed to no longer be in existence and have not occurred with respect to any unaffiliated third party to whom the
Controlling Class Certificateholder that irrevocably waived its right to exercise any of the rights of the Controlling Class
Certificateholder has sold or transferred all or a portion of its interest in the Class E Certificates if such unaffiliated
third party holds the majority of the Controlling Class after giving effect to such transfer (the
“Non-Waiving Successor”). Following any such sale or transfer, the Non-Waiving Successor shall again have
the rights of the Controlling Class Certificateholder as set forth herein (including the rights to appoint a Directing
Certificateholder or cause the exercise of the rights of the Directing Certificateholder) without regard to any prior waiver
by the predecessor Controlling Class Certificateholder. The Non-Waiving Successor shall also have the right to exercise any
of the rights of the Controlling Class Certificateholder. No Non-Waiving Successor described above shall have any consent
rights with respect to any Mortgage Loan that became a Specially Serviced Mortgage Loan prior to the sale or transfer of the
Class E Certificates to the Non-Waiving Successor and had not also become a Corrected Mortgage Loan prior to such sale or
transfer until such time as such Mortgage Loan becomes a Corrected Mortgage Loan.

(m)        Promptly
upon its determination of a change in the Controlling Class, the Certificate Administrator shall (i) include on its statement
made available pursuant to Section 4.02(a) of this Agreement the identity of the new Controlling Class and (ii) provide
to the Master Servicer, the Special Servicer and the Senior Trust Advisor notice of such event and the identity and contact information
of the new Controlling Class Certificateholder (the cost of obtaining such information from DTC being an expense of the Trust).
The Certificate Administrator shall notify the Senior Trust Advisor, the Master Servicer and the Special Servicer within ten (10)
Business Days of the existence or cessation of (i) any Control Event or (ii) any

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Consultation Termination Event. Upon the Certificate
Administrator’s determination that a Control Event or a Consultation Termination Event has occurred or is terminated, the
Certificate Administrator shall, within ten (10) Business Days, post a “special notice” on the Certificate Administrator’s
Website pursuant to this provision.

In
the event that a Control Event has occurred due to a reduction of the Certificate Balance of the Class E Certificates (taking
into account the application of any Appraisal Reductions to notionally reduce the Certificate Balance of such Class in accordance
with Section 4.05(a) hereof) to less than 25% of the Original Certificate Balance thereof, such special notice shall state
“A Control Event has occurred due to the reduction of the Certificate Balance of the Class E Certificates to less than 25%
of the Original Certificate Balance thereof.”

In
the event that a Control Event or Consultation Termination Event has occurred due to the irrevocable waiver by a Class E
Certificateholder who has become the Controlling Class Certificateholder of its right to appoint a Directing
Certificateholder or to exercise any of the rights of the Controlling Class Certificateholder, such special notice shall
state “A Control Event and a Consultation Termination Event has occurred due to the irrevocable waiver by the
Controlling Class Certificateholder of its rights as Controlling Class Certificateholder.”

In
the event that a Consultation Termination Event has occurred due to the reduction of each Class of Control Eligible Certificates
below 25% of its Original Certificate Balance, in each case without regard to the application of any Appraisal Reductions, such
special notice shall state: “A Consultation Termination Event has occurred because no Class of Control Eligible Certificates
exists where such Class’s aggregate Certificate Balance is at least equal to 25% of the Original Certificate Balance of
that Class, in each case without regard to the application of any Appraisal Reductions.”

In
the event of any transfer of a Class E Certificate, and upon notice to the Certificate Administrator in the form of Exhibit
NN that results in a termination of a Control Event or a Consultation Termination Event, such “special notice”
shall state: “A Consultation Termination Event or a Control Event has been terminated and is no longer in effect due to
a transfer of a majority interest of the Controlling Class to an unaffiliated third party which has terminated any waiver by the
prior Holder.”

Section
3.29     Intercreditor Agreements. (a) Each of the Master Servicer and Special Servicer acknowledges
and agrees that each Serviced Whole Loan being serviced under this Agreement and each Mortgage Loan with mezzanine debt is subject
to the terms and provisions of the related Intercreditor Agreement and each agrees to service each such Serviced Whole Loan and
each Mortgage Loan with mezzanine debt in accordance with the related Intercreditor Agreement and this Agreement, including, without
limitation, effecting distributions and allocating reimbursement of expenses in accordance with the related Intercreditor Agreement
and, in the event of any conflict between the provisions of this Agreement and the related Intercreditor Agreement, the related
Intercreditor Agreement shall govern. Notwithstanding anything contrary in this Agreement, each of the Master Servicer and Special
Servicer agrees not to take any action with respect to a Serviced Whole Loan or a Mortgage Loan with mezzanine debt or the related
Mortgaged Property without the prior consent of or prior consultation with, as applicable, the related Companion Holder or mezzanine
lender,

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as applicable, to the extent that the related Intercreditor Agreement provides that such Companion Holder or mezzanine
lender, as applicable, is required or permitted to consent to or consult on such action. Each of the Master Servicer and Special
Servicer acknowledges and agrees that each Companion Holder and each mezzanine lender or its respective designee has the right
to purchase the related Mortgage Loan pursuant to the terms and conditions of this Agreement and the related Intercreditor Agreement
to the extent provided for therein. Each of the Master Servicer and the Special Servicer further acknowledges and agrees that
prior to the occurrence of an AB Control Appraisal Period any AB Whole Loan Controlling Holder will have the right to replace
the Special Servicer solely with respect to the related Serviced AB Whole Loan, to the extent provided for herein and in the related
Intercreditor Agreement.

(b)         Neither
the Master Servicer nor the Special Servicer shall have any liability for any cost, claim or damage that arises from any
entitlement in favor of a Companion Holder or a mezzanine lender under the related Intercreditor Agreement or conflict
between the terms of this Agreement and the terms of such Intercreditor Agreement. Notwithstanding any provision of any
Intercreditor Agreement that may otherwise require the Master Servicer or the Special Servicer to abide by any
instruction or direction of a Companion Holder or a mezzanine lender, neither the Master Servicer nor the Special Servicer
shall be required to comply with any instruction or direction the compliance with which requires an Advance that constitutes
or would constitute a Nonrecoverable Advance. In no event shall any expense arising from compliance with an Intercreditor
Agreement constitute an expense to be borne by the Master Servicer or Special Servicer for its own account without
reimbursement. In no event shall the Master Servicer or the Special Servicer be required to consult with or obtain the
consent of any Companion Holder or a mezzanine lender unless such Companion Holder or mezzanine lender has delivered notice
of its identity and contact information to each of the parties to this Agreement (upon which notice each of the parties to
this Agreement shall be conclusively entitled to rely). As of the Closing Date, the contact information for the Companion
Holders and mezzanine lenders is as set forth in the related Intercreditor Agreement. In no event shall the Master Servicer
or the Special Servicer, as applicable, be required to consult with or obtain the consent of a new Directing
Certificateholder or a new Controlling Class Certificateholder unless the Certificate Administrator has delivered notice to
the Master Servicer or the Special Servicer, as applicable, as required under Section 3.28(e) or the Master Servicer
or Special Servicer, as applicable, have actual knowledge of the identity and contact information of a new Directing
Certificateholder or a new Controlling Class Certificateholder.

(c)         No
direction or disapproval of the Companion Holders or any mezzanine lender shall (a) require or cause the Master Servicer or Special
Servicer to violate the terms of a Mortgage Loan or Serviced Companion Loan, applicable law or any provision of this Agreement,
including the Master Servicer’s or Special Servicer’s obligation to act in accordance with the Servicing Standard
and to maintain the REMIC status of each Trust REMIC and the grantor trust status of the Grantor Trust, (b) result in the imposition
of a “prohibited transaction” or “prohibited contribution” tax under the REMIC Provisions or (c) materially
expand the scope of the Special Servicer’s, Trustee’s, the Certificate Administrator’s or the Master Servicer’s
responsibilities under this Agreement.

(d)         With
respect to any Serviced Pari Passu Companion Loan, notwithstanding any rights the Senior Trust Advisor or the Directing Certificateholder
hereunder

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may
have to consult with respect to any action or other matter with respect to the servicing of such Companion Loan, to the extent
the related Intercreditor Agreement provides that such right is exercisable by the related Companion Holder or is exercisable
in conjunction with any related Companion Holder, the Directing Certificateholder shall not be permitted to exercise such right
or, to the extent provided in the related Intercreditor Agreement, shall be required to exercise such right in conjunction with
the related Companion Holder, as applicable (except to the extent that the Directing Certificateholder is the related Serviced
Whole Loan Controlling Holder). Additionally, notwithstanding anything in this Agreement to the contrary, the Master Servicer
or Special Servicer, as applicable, shall consult, seek the approval or obtain the consent of the holder of any Serviced Companion
Loan with respect to any matters with respect to the servicing of such Companion Loan to the extent required under related Intercreditor
Agreement and shall not take such actions requiring consent of the related Companion Holder without such consent. In addition,
notwithstanding anything to the contrary, the Master Servicer or Special Servicer, as applicable, shall deliver reports and notices
to the related Companion Holder as required under the Intercreditor Agreement.

(e)          Notwithstanding
anything in this Agreement to the contrary, the Special Servicer shall be required (i) to provide copies of any notice, information
and report that it is required to provide to the Directing Certificateholder pursuant to this Agreement with respect to any Major
Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to a Serviced Whole Loan,
to the related Companion Holder, within the same time frame it is required to provide to the Directing Certificateholder (for
this purpose, without regard to whether such items are actually required to be provided to the Directing Certificateholder under
this Agreement due to the occurrence of a Control Event or a Consultation Termination Event) and (ii) to consult with any related
Companion Holder on a strictly non-binding basis, to the extent having received such notices, information and reports, such related
Companion Holder requests consultation with respect to any such Major Decisions or the implementation of any recommended actions
outlined in an Asset Status Report relating to a Serviced Whole Loan, and consider alternative actions recommended by such related
Companion Holder; provided that after the expiration of a period of ten (10) Business Days from the delivery to such related
Companion Holder by the Special Servicer of written notice of a proposed action, together with copies of the notice, information
and report required to be provided to the Directing Certificateholder, the Special Servicer shall no longer be obligated to consult
with such related Companion Holder, whether or not such related Companion Holder has responded within such ten (10) Business Day
period (unless, the Special Servicer proposes a new course of action that is materially different from the action previously proposed,
in which case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all
information relating thereto). Notwithstanding the consultation rights of the related Companion Holder set forth in the immediately
preceding sentence, the Special Servicer 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 Special Servicer determines that immediate action with
respect thereto is necessary to protect the interests of the Certificateholders and the related Companion Holder. In no event
shall the Special Servicer be obligated at any time to follow or take any alternative actions recommended by the related Companion
Holder.

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(f)          In
addition to the consultation rights of the holder of a Serviced Pari Passu Companion Loan provided in the immediately preceding
paragraph, such Companion Holder shall have the right to attend (in person or telephonically, in the discretion of the Master
Servicer or Special Servicer, as applicable) annual meetings with the Master Servicer or the Special Servicer at the offices of
the Master Servicer or Special Servicer, as applicable, upon reasonable notice and at times reasonably acceptable to the Master
Servicer or Special Servicer, as applicable, in which servicing issues related to the related Whole Loan are discussed.

(g)         With
respect to any Serviced Whole Loan, the Special Servicer shall not modify, waive or amend the terms of the related Intercreditor
Agreement such that the monthly remittance to the holder of the related Companion Loan is required earlier than two (2) Business
Days after receipt by the Master Servicer of the related Monthly Payment without the consent of the Master Servicer.

(h)         With
respect to each Serviced Pari Passu Mortgage Loan, this Agreement is subject to the related Intercreditor Agreement and incorporates
by reference all provisions required to be included herein pursuant to such Intercreditor Agreement.

Section
3.30     Rating Agency Confirmation. (a) Notwithstanding the terms of any related Mortgage Loan
documents or other provisions of this Agreement, if any action under any Mortgage Loan documents or this Agreement requires Rating
Agency Confirmation as a condition precedent to such action, if the party (the “Requesting Party”) required
to obtain such Rating Agency Confirmation from each Rating Agency has made a request to any Rating Agency for such Rating Agency
Confirmation and, within ten (10) Business Days of the Rating Agency Confirmation request being posted to the 17g-5 Information
Provider’s Website, such Rating Agency has not replied to such request or has responded in a manner that indicates that
such Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency Confirmation, then such Requesting
Party shall be required to confirm (through direct communication and not by posting any confirmation on the 17g-5 Information
Provider’s Website) that the applicable Rating Agency has received the Rating Agency Confirmation request, and, if it has,
promptly request the related Rating Agency Confirmation again. The circumstances described in the preceding sentence are referred
to in this Agreement as a “RAC No-Response Scenario”. Once the Requesting Party has sent a request for a Rating
Agency Confirmation to the 17g-5 Information Provider, such Requesting Party, may, but shall not be obligated to send such request
directly to the Rating Agencies in accordance with the procedures set forth in Section 12.10(d).

If
there is no response to such Rating Agency Confirmation request within five (5) Business Days of such second request in a RAC
No-Response Scenario or if such Rating Agency has responded in a manner that indicates such Rating Agency is neither reviewing
such request nor waiving the requirement for Rating Agency Confirmation, then (x) with respect to any condition in any Mortgage
Loan document requiring such Rating Agency Confirmation or with respect to any other matter under this Agreement relating to the
servicing of the Mortgage Loans (other than as set forth in clause (y) below), the requirement to obtain a Rating Agency
Confirmation shall be deemed not to apply (as if such requirement did not exist) with respect to such Rating Agency and the Master
Servicer or the Special Servicer, as the case may be, may then take such action if the Master Servicer or the Special Servicer,
as applicable, confirms its

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original
determination (made prior to making such request) that taking the action with respect to which it requested the Rating Agency
Confirmation would still be consistent with the Servicing Standard, and (y) with respect to a replacement of the Master Servicer
or Special Servicer, such condition shall be deemed not to apply (as if such requirement did not exist) if (i) Moody’s has
not cited servicing concerns of the applicable replacement as the sole or material factor in such rating action or any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a rating downgrade or withdrawal)
of securities in a transaction serviced by the applicable replacement master servicer or special servicer prior to the time of
determination, if Moody’s is the non-responding Rating Agency, (ii) the applicable replacement master servicer or special
servicer is rated at least “CMS3” (in the case of the master servicer) or “CSS3” (in the case of the special
servicer), if Fitch is the non-responding Rating Agency or (iii) (a) such master servicer or special servicer is acting as master
servicer or special servicer, as applicable, in a commercial mortgage loan securitization that was rated by a Rating Agency within
the twelve (12) month period prior to the date of determination and (b) Morningstar has not qualified, downgraded or withdrawn
the then-current rating or ratings of one or more classes of certificates citing servicing concerns with the master servicer or
special servicer, as applicable, as the sole or material factor in such rating action, if Morningstar is the non-responding Rating
Agency. 

Any
Rating Agency Confirmation request made by the Master Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable,
pursuant to this Agreement, shall be made in writing, which writing shall contain a cover page indicating the nature of the Rating
Agency Confirmation request, and shall contain all back-up material necessary for the Rating Agency to process such request. Such
written Rating Agency Confirmation request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5
Information Provider shall post such request on the 17g-5 Information Provider’s Website in accordance with Section 3.15(c).

Promptly
following the Master Servicer’s or Special Servicer’s determination to take any action discussed in this Section
3.30(a) following any requirement to obtain a Rating Agency Confirmation being deemed not to apply (as if such requirement
did not exist), the Master Servicer or Special Servicer, as applicable, shall provide electronic written notice to the 17g-5 Information
Provider of the action taken for the particular item at such time, and the 17g-5 Information Provider shall promptly post such
notice on the 17g-5 Information Provider’s Website in accordance with Section 3.15(c).

(b)         Notwithstanding
anything to the contrary in this Section 3.30, for purposes of the provisions of any Mortgage Loan document relating to
defeasance (including without limitation the type of collateral acceptable for use as defeasance collateral) or release or substitution
of any collateral, any Rating Agency Confirmation requirement in the Mortgage Loan documents for which the Master Servicer or
Special Servicer would have been permitted to waive obtaining such Rating Agency Confirmation pursuant to Section 3.30(a)
shall be deemed not to apply (as if such requirement did not exist).

(c)         For
all other matters or actions not specifically discussed in Section 3.30(a) above, the applicable Requesting Party shall
deliver Rating Agency Confirmation from each Rating Agency.

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Section
3.31     The Senior Trust Advisor. (a) The Senior Trust Advisor shall promptly review (i) all
information made available to Privileged Persons on the Certificate Administrator’s Website (A) that relates to any Specially
Serviced Mortgage Loan, and (B) that is contained in the CREFC® Servicer Watch List prepared by the Master Servicer
and (ii) each Final Asset Status Report delivered to the Senior Trust Advisor by the Special Servicer.

(b)         The
Senior Trust Advisor and its Affiliates will be obligated to keep confidential any Privileged Information received from the Special
Servicer or Directing Certificateholder in connection with the Directing Certificateholder’s exercise of its rights under
this Agreement (including, without limitation, in connection with the review and/or approval of any Asset Status Report), subject
to any law, rule, regulation, order, judgment or decree requiring the disclosure of such Privileged Information.

(c)         (i)
After the occurrence and during the continuance of a Control Event, based on the Senior Trust Advisor’s review of any
assessment of compliance report, attestation report, Asset Status Report and other information delivered to the Senior Trust
Advisor by the Special Servicer, including each Asset Status Report delivered during the prior calendar year (other than any
communications between the Directing Certificateholder and the Special Servicer that would be Privileged Information), the
Senior Trust Advisor shall (if any Mortgage Loans were Specially Serviced Mortgage Loans during the prior calendar year)
deliver to the Certificate Administrator and the 17g-5 Information Provider within one hundred-twenty (120) days of the end
of the prior calendar year for which a Control Event was continuing as of December 31, an annual report (the “Senior
Trust Advisor Annual Report”), substantially in the form of Exhibit V (which form may be modified or altered
as to either its organization or content by the Senior Trust Advisor, subject to compliance of such form with the terms and
provisions of this Agreement including, without limitation, provisions herein relating to Privileged Information; provided, however,
that in no event shall the information or any other content included in the Senior Trust Advisor Annual Report contravene any
provision of this Agreement), setting forth the Senior Trust Advisor’s assessment of the Special Servicer’s
performance of its duties under this Agreement during the prior calendar year on a “platform-level basis” with
respect to the resolution and liquidation of Specially Serviced Mortgage Loans that the Special Servicer is responsible for
servicing under this Agreement; provided, further, however, that in the event the Special Servicer is
replaced, the Senior Trust Advisor Annual Report shall only relate to the special servicer that was acting as Special
Servicer as of December 31 in the prior calendar year and is continuing in such capacity through the date of such Senior
Trust Advisor Annual Report. Notwithstanding the foregoing, with respect to any Serviced AB Whole Loan, no Senior Trust
Advisor Annual Report will be permitted to include an assessment of the Special Servicer’s performance in respect of
such Serviced AB Whole Loan until after the occurrence and during the continuance of an AB Control Appraisal Period under
the related Intercreditor Agreement. Subject to the restrictions in this Agreement, including, without limitation, Section
3.31(d) hereof, each such Senior Trust Advisor Annual Report shall (A) identify any material deviations (i) from the
Servicing Standard and (ii) from the Special Servicer’s obligations under this Agreement with respect to the resolution
or liquidation of Specially Serviced Mortgage Loans or REO Properties that the Special Servicer is responsible for servicing
under this Agreement (other than with respect to any REO Property related to a Non-Serviced Mortgage Loan) and (B) comply
with all of the confidentiality requirements described in this Agreement regarding Privileged Information (subject to any
permitted exceptions). Such Senior Trust Advisor Annual

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Report
shall be delivered to the Certificate Administrator (which shall promptly post such Senior Trust Advisor Annual Report on
the Certificate Administrator’s Website in accordance with Section 3.15(b)) and the 17g-5 Information Provider
(which shall promptly post such Senior Trust Advisor Annual Report on the 17g-5 Information Provider’s Website in
accordance with Section 3.15(c)); provided, however, that the Special Servicer shall be given an
opportunity to review the Senior Trust Advisor Annual Report at least five (5) Business Days prior to its delivery to the
Certificate Administrator and the 17g-5 Information Provider. The Senior Trust Advisor shall have no obligation to adopt any
comments to the Senior Trust Advisor Annual Report that are provided by the Special Servicer. Only as used in this Section
3.31 in connection with the Senior Trust Advisor Annual Report, the term “platform-level basis” refers to the
Special Servicer’s performance of its duties as they relate to the resolution and liquidation of Specially Serviced
Mortgage Loans, taking into account the Special Servicer’s specific duties under this Agreement as well as the extent
to which those duties were performed in accordance with the Servicing Standard, with reasonable consideration by the Senior
Trust Advisor of any assessment of compliance report, attestation report, Asset Status Report and other information delivered
to the Senior Trust Advisor by the Special Servicer (other than any communications between the Directing
Certificateholder and the Special Servicer that would be Privileged Information) pursuant to this Agreement.

(ii)         In
the event the Senior Trust Advisor’s ability to perform its obligations in respect of the Senior Trust Advisor Annual Report
is limited or prohibited due to the failure of a party hereto to timely deliver information required to be delivered to the Senior
Trust Advisor or because such information is inaccurate or incomplete, the Senior Trust Advisor shall set forth such limitations
or prohibitions in the related Senior Trust Advisor Annual Report. The Senior Trust Advisor shall be entitled to rely on the accuracy
and completeness of any information it is provided without liability for any such reliance hereunder.

(d)         Prior
to the occurrence and continuance of a Control Event (or, with respect to a Serviced AB Whole Loan, prior to the occurrence and
continuance of both a Control Event and a related AB Control Appraisal Period), the Special Servicer will forward any Appraisal
Reduction and net present value calculations used in the Special Servicer’s determination of what course of action to take
in connection with the workout or liquidation of a Specially Serviced Mortgage Loan to the Senior Trust Advisor after such calculations
have been finalized. The Senior Trust Advisor shall review such calculations but shall not opine on or take any affirmative action
with respect to such Appraisal Reduction calculations and/or net present value calculations.

(e)         (i)
After the occurrence and during the continuance of a Control Event, and with respect to any Serviced AB Whole Loan, after the
occurrence and during the continuance of both a Control Event and an AB Control Appraisal Period, after the calculation but prior
to the utilization by the Special Servicer of any of the calculations related to (i) Appraisal Reductions or (ii) net present
value in accordance with Section 1.02(iv), the Special Servicer shall forward such calculations, together with any supporting
material or additional information necessary in support thereof (including such additional information reasonably requested by
the Senior Trust Advisor to confirm the mathematical accuracy of such calculations, but not including any Privileged Communications),
to the Senior Trust Advisor

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promptly, but in any event no later than two (2) Business Days after preparing such calculations,
and the Senior Trust Advisor shall promptly, but no later than three (3) Business Days after receipt of such calculations and
any supporting or additional materials, recalculate and verify the accuracy of the mathematical calculations and the corresponding
application of the non-discretionary portion of the applicable formulas required to be utilized in connection with any such calculation.

(ii)         In
connection with this Section 3.31(e), in the event the Senior Trust Advisor does not agree with the mathematical
calculations of the Appraisal Reduction (as calculated by the Special Servicer) or net present value or the application of
the applicable non-discretionary portions of the formula required to be utilized for such calculation, the Senior Trust
Advisor and Special Servicer shall consult with each other in order to resolve any inaccuracy in the mathematical
calculations or the application of the non-discretionary portions of the related formula in arriving at those mathematical
calculations or any disagreement within five (5) Business Days of delivery of such calculations. The Master Servicer shall
cooperate with the Special Servicer and provide any information reasonably requested by the Special Servicer necessary
for the calculation of the Appraisal Reduction that is in the Master Servicer’s possession or reasonably obtainable by
the Master Servicer. In the event the Senior Trust Advisor and Special Servicer are not able to resolve such inaccuracies or
disagreement prior to the end of such five (5) Business Day period, the Senior Trust Advisor shall promptly notify the
Certificate Administrator of such disagreement and the Certificate Administrator shall determine which calculation is to
apply.

(iii)         Notwithstanding
the foregoing, the consultation duties of the Senior Trust Advisor set forth in this Agreement shall not be permitted to be exercised
by the Senior Trust Advisor with respect to any Serviced AB Whole Loan until after the occurrence and during the continuance of
both a Control Event and a related AB Control Appraisal Period.

(f)           The
Senior Trust Advisor and its Affiliates shall keep all Privileged Information confidential and shall not disclose such information
to any other Person (including any Certificateholders which are not then included in the Control Eligible Certificates), other
than any party hereto, to the extent expressly set forth herein, and the Senior Trust Advisor shall not, without the prior written
consent of the Special Servicer, disclose any Privileged Information to any other Person, except to the extent that (i) such Privileged
Information becomes generally available and known to the public other than as a result of a disclosure directly or indirectly
by such parties, (ii) it is reasonable and necessary for such parties to do so in working with legal counsel, auditors, taxing
authorities or other governmental agencies, (iii) such Privileged Information was already known to such party and otherwise not
subject to a confidentiality obligation or (iv) such disclosure is required pursuant to any law, rule, regulation, order, judgment
or decree requiring the disclosure of such Privileged Information, as evidenced by an Opinion of Counsel (which shall be an expense
of the Trust) delivered to the Master Servicer, the Senior Trust Advisor, the Certificate Administrator, the Special Servicer,
the Directing Certificateholder and the Trustee. Notwithstanding the foregoing, the Senior Trust Advisor shall be permitted to
share Privileged Information with its affiliates and any

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subcontractors of the Senior Trust Advisor that agree in writing to be
bound by the same confidentiality provisions applicable to the Senior Trust Advisor.

(g)          Subject
to the requirements of confidentiality imposed on the Senior Trust Advisor herein (including without limitation in respect of
Privileged Information), the Senior Trust Advisor shall respond to Inquiries proposed by Privileged Persons from time to time
in accordance with the terms of Section 4.08(a).

(h)          As
compensation for its activities hereunder, the Senior Trust Advisor shall be entitled to receive the Senior Trust Advisor
Fee on each Distribution Date with respect to each Mortgage Loan (including the Serviced Mortgage Loans and the Non-Serviced
Mortgage Loans but not any Companion Loan) and each REO Loan (other than the portion of an REO Loan related to any Serviced
Companion Loan). As to each Mortgage Loan and each REO Loan, the Senior Trust Advisor Fee shall accrue from time to time at
the Senior Trust Advisor Fee Rate and shall be computed on the basis of the Stated Principal Balance of such Mortgage Loan or
REO Loan, as the case may be, and in the same manner as interest is calculated on the related Mortgage Loan or REO Loan, as
the case may be, and, in connection with any partial month interest payment, for the same period respecting which any
related interest payment due on the related Mortgage Loan or deemed to be due on such REO Loan is computed.

The
Senior Trust Advisor shall be entitled to reimbursement of any Senior Trust Advisor Expenses provided for pursuant to Section
6.03(a) and/or 6.03(b) hereof, such amounts to be reimbursed from amounts on deposit in the Certificate Account as
provided by Section 3.05(a). Each successor senior trust advisor shall be required to acknowledge and agree to the terms
of the preceding sentence.

In
addition, the Senior Trust Advisor Consulting Fee shall be payable to the Senior Trust Advisor with respect to each Major Decision
for which the Senior Trust Advisor has consultation obligations hereunder. The Senior Trust Advisor Consulting Fee shall be payable
from funds on deposit in the Certificate Account as provided in Section 3.05(a)(ii) of this Agreement, but only to the
extent such Senior Trust Advisor Consulting Fee is actually received from the related Mortgagor. When the Senior Trust Advisor
has consultation obligations with respect to a Major Decision under this Agreement, the Master Servicer or the Special Servicer,
as applicable, shall use commercially reasonable efforts consistent with the Servicing Standard to collect the applicable Senior
Trust Advisor Consulting Fee from the related Mortgagor in connection with such Major Decision, but only to the extent not prohibited
by the related Mortgage Loan documents. The Master Servicer or Special Servicer, as applicable, may waive or reduce the amount
of any Senior Trust Advisor Consulting Fee payable by the related Mortgagor if it determines that such full or partial waiver
is in accordance with the Servicing Standard, but in no event shall the Master Servicer or the Special Servicer take any enforcement
action with respect to the collection of such Senior Trust Advisor Consulting Fee other than requests for collection; provided
that the Master Servicer or the Special Servicer, as applicable, shall consult, on a non-binding basis, with the Senior Trust
Advisor prior to any such waiver or reduction. Notwithstanding the foregoing, the Senior Trust Advisor will have no obligations
or consultation rights with respect to: (i) any Non-Serviced Whole Loan or any related REO Property or (ii) with respect to any
Serviced AB Mortgage Loan, prior to the occurrence and continuance of (1) an AB Control Appraisal Period and (2) a Control Event;

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provided further, that the Senior Trust Advisor shall not be entitled to a Senior Trust Advisor Consulting Fee with
respect to any Non-Serviced Whole Loan.

(i)          After
the occurrence of a Consultation Termination Event, the Senior Trust Advisor may be removed upon (i) the written direction
of Holders of Certificates evidencing not less than 25% of the aggregate Certificate Balance of all Classes of Principal
Balance Certificates and the Class EC Certificates (taking into account the application of Appraisal Reductions to notionally
reduce the Certificate Balances of Classes to which such Appraisal Reductions are allocable) requesting a vote to replace the
Senior Trust Advisor with a replacement Senior Trust Advisor selected by such Certificateholders (provided that the
proposed replacement Senior Trust Advisor meets the criteria set forth in Section 3.31(k)), (ii) payment by such
requesting Holders to the Certificate Administrator of all reasonable fees and expenses to be incurred by the Certificate
Administrator in connection with administering such vote and (iii) receipt by the Trustee and the Certificate Administrator
of Rating Agency Confirmation from each Rating Agency (which confirmations will be obtained by the Certificate Administrator
at the expense of such Holders and will not constitute an additional Trust Fund expense). The Certificate Administrator shall
promptly provide written notice to all Certificateholders of such request by posting such notice on the Certificate
Administrator’s Website in accordance with Section 3.15(b), and concurrently by mail, and conduct the
solicitation of votes of all Certificates in such regard. Upon the vote or written direction of Holders of at least 75% of
the aggregate Certificate Balance of all Classes of Principal Balance Certificates and the Class EC Certificates (taking into
account the application of Appraisal Reductions to notionally reduce the Certificate Balances of Classes to which such
Appraisal Reductions are allocable), the Trustee shall immediately replace the Senior Trust Advisor with the replacement
Senior Trust Advisor.

(j)          In
the event that the Senior Trust Advisor fails to duly observe or perform in any material respect any of its duties, covenants
or obligations under this Agreement, then the Trustee may, and upon the written direction of Certificateholders representing at
least 51% of the Voting Rights (taking into account the application of any Appraisal Reductions to notionally reduce the Certificate
Balance of the Classes of Certificates), the Trustee shall terminate the Senior Trust Advisor for cause. In the event (i) (A)
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator,
trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Senior Trust Advisor and
such decree or order shall have remained in force, undischarged, undismissed or unstayed for a period of sixty (60) days, (B)
the Senior Trust Advisor shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official
in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating
to the Senior Trust Advisor or of or relating to all or substantially all of its property, or (C) the Senior Trust Advisor shall
admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable
bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors, voluntarily suspend payment
of its obligations or take any corporate action in furtherance of the foregoing, or (ii) the Senior Trust Advisor acknowledges
in writing that such party’s duties hereunder are no longer permissible

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under applicable law and provides an Opinion of
Counsel to such effect to the Trustee, then the Trustee shall terminate the Senior Trust Advisor for cause. Upon the termination
of the Senior Trust Advisor, a replacement Senior Trust Advisor satisfying the conditions for such replacement in Section 3.31(k)
below shall be selected by the Certificate Administrator. The Certificate Administrator may rely on a certification by the
replacement Senior Trust Advisor that it meets such criteria. If the Certificate Administrator is unable to find a replacement
Senior Trust Advisor within thirty (30) days of the termination of the Senior Trust Advisor, the Depositor shall be permitted
to find a replacement. Unless and until a replacement Senior Trust Advisor is appointed, no party shall act as the Senior Trust
Advisor and the provisions relating to consultation with respect to the Senior Trust Advisor shall not be applicable until a replacement
Senior Trust Advisor is appointed hereunder.

(k)         Any
replacement Senior Trust Advisor shall (or all of the personnel responsible for supervising the obligations of the Senior
Trust Advisor shall) meet either of the following criteria: (A) (i) be regularly engaged in the business of analyzing and
advising clients in commercial mortgage-backed securities matters and have at least five (5) years of experience in
collateral analysis and loss projections, and (ii) have at least five (5) years of experience in commercial real
estate asset management and experience in the workout and management of distressed commercial real estate assets, or (B) be
an institution that is a special servicer, senior trust advisor or operating advisor on a commercial mortgage-backed
securities transaction rated by S&P, Fitch, Moody’s, Morningstar, KBRA or DBRS (including, in the case of Pentalpha
Surveillance LLC, this transaction) but has not been special servicer or senior trust advisor on a transaction for which any
Rating Agency has qualified, downgraded or withdrawn its rating or ratings of, one or more classes of certificates for such
transaction citing servicing concerns with the special servicer or senior trust advisor as the sole or a material factor in
such rating action.

(l)          Prior
to the occurrence and continuance of a Control Event, the Directing Certificateholder shall have the right to consent, such consent
not to be unreasonably withheld, conditioned or delayed, to the identity of any replacement Senior Trust Advisor appointed pursuant
to this Section 3.31.

(m)        The
Senior Trust Advisor may resign from its obligations and duties hereby imposed on it (a) upon thirty (30) days prior written notice
to the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Directing Certificateholder,
if applicable, and (b) upon the appointment of, and the acceptance of such appointment by, a successor senior trust advisor meeting
the eligibility requirements set forth in Section 3.31(k) and receipt by the Trustee of Rating Agency Confirmation from
each Rating Agency. No such resignation by the Senior Trust Advisor shall become effective until the replacement Senior Trust
Advisor shall have assumed the resigning Senior Trust Advisor’s responsibilities and obligations. The resigning Senior Trust
Advisor shall pay all costs and expenses (including costs and expenses incurred by the Trustee and the Certificate Administrator)
associated with a transfer of its duties pursuant to this Section 3.31.

(n)         In
the event there are no Classes of Certificates outstanding other than the Control Eligible Certificates and the Class R Certificates,
then all of the rights and obligations of the Senior Trust Advisor shall terminate without payment of any termination fee (other
than any rights or obligations that accrued prior to the date of such termination (including accrued and

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unpaid compensation)
and other than indemnification rights arising out of events occurring prior to such termination). In connection with any termination
pursuant to this Section 3.31(n), no successor senior trust advisor shall be appointed. Upon receipt of written notice
of such acts by a Responsible Officer of the Trustee, the Trustee shall provide the Senior Trust Advisor with prompt notice upon
its termination pursuant to this Section 3.31(n).

(o)         In
the event the Senior Trust Advisor resigns or is otherwise terminated for any reason it shall remain entitled to any accrued and
unpaid Senior Trust Advisor Fees and Senior Trust Advisor Consulting Fees and reimbursement of accrued and unpaid Senior Trust
Advisor Expenses pursuant to Section 3.31(h) and shall also remain entitled to any rights of indemnification provided hereunder.

(p)         The
parties hereto agree, and the Certificateholders by their acceptance of their Certificates shall be deemed to have agreed,
that (i) subject to Section 6.03, the Senior Trust Advisor shall have no liability to any Certificateholder for any
actions taken or for refraining from taking any actions under this Agreement, (ii) the Senior Trust Advisor shall act solely
as a contracting party to the extent set forth in this Agreement, (iii) the Senior Trust Advisor shall have no (A)
fiduciary duty, or (B) other duty except with respect to its specific obligations under this Agreement, and shall have no
duty to any particular class of Certificates or particular Certificateholders, and (iv) the Senior Trust Advisor does not
constitute an “investment adviser” within the meaning of the Investment Advisers Act of 1940, as amended.

(q)         The
Senior Trust Advisor shall not make any investment in any Class of Certificates; provided, however, that such prohibition
shall not apply to (i) riskless principal transactions effected by a broker-dealer Affiliate of the Senior Trust Advisor or (ii)
investments by an Affiliate of the Senior Trust Advisor if the Senior Trust Advisor and such Affiliate maintain policies and procedures
that (A) segregate personnel involved in the activities of the Senior Trust Advisor under this Agreement from personnel involved
in such Affiliate’s investment activities and (B) prevent such Affiliate and its personnel from gaining access to information
regarding the Trust Fund and the Senior Trust Advisor and its personnel from gaining access to such Affiliate’s information
regarding its investment activities.

Section
3.32     Companion Paying Agent. (a) With respect to each of the Serviced Companion Loans, the
Master Servicer shall be the Companion Paying Agent hereunder. The Companion Paying Agent undertakes to perform such duties and
only such duties as are specifically set forth in this Agreement.

(b)         No
provision of this Agreement shall be construed to relieve the Companion Paying Agent from liability for its negligent failure
to act, bad faith or its own willful misfeasance; provided, however, that the duties and obligations of the Companion
Paying Agent shall be determined solely by the express provisions of this Agreement. The Companion Paying Agent shall not be liable
except for the performance of such duties and obligations, no implied covenants or obligations shall be read into this Agreement
against the Companion Paying Agent. In the absence of bad faith on the part of the Companion Paying Agent, the Companion Paying
Agent may conclusively rely, as to the truth and correctness of the statements or conclusions expressed therein, upon any resolutions,
certificates, statements, opinions, reports,

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documents, orders or other instrument furnished to the Companion Paying Agent by
any Person and which on their face do not contradict the requirements of this Agreement.

(c)         In
the case of each of the Serviced Companion Loans, upon the resignation or removal of the Master Servicer pursuant to Article VII
of this Agreement, the Master Servicer, as the Companion Paying Agent, shall be deemed simultaneously to resign or be removed.

(d)         This
Section 3.32 shall survive the termination of this Agreement or the resignation or removal of the Companion Paying Agent,
as regards to rights accrued prior to such resignation or removal.

Section
3.33    Companion Register. The Companion Paying Agent shall maintain a register (the
“Companion Register”) with respect to each Serviced Companion Loan on which it will record the names and
address of, and wire transfer instructions for, the Companion Holders from time to time, to the extent such information is
provided in writing to it by each Companion Holder. The initial Companion Holders, along with their respective name and
address, are listed on Exhibit S hereto. In the event a Companion Holder transfers a Companion Loan without
notice to the Companion Paying Agent, the Companion Paying Agent shall have no liability for any misdirected payment in such
Companion Loan and shall have no obligation to recover and redirect such payment.

The
Companion Paying Agent shall promptly provide the name and address of the Companion Holder to any party hereto or any successor
Companion Holder upon written request and any such Person may, without further investigation, conclusively rely upon such information.
The Companion Paying Agent shall have no liability to any Person for the provision of any such name and address.

For
the avoidance of doubt, any notices, reports or other information required to be delivered pursuant to this Agreement by any party
hereto to a Companion Holder with respect to a Companion Loan that has been included in an Other Securitization shall be provided
to the Other Servicer(s) under the Other Pooling and Servicing Agreement and to any other party to the extent required under the
related Intercreditor Agreement.

Section
3.34     Certain Matters Relating to the Non-Serviced Mortgage Loans. (a) In the event that any
of the applicable Non-Serviced Trustee, the applicable Non-Serviced Master Servicer or the applicable Non-Serviced Special Servicer
shall be replaced in accordance with the terms of the applicable Non-Serviced Pooling Agreement, the Master Servicer and the Special
Servicer shall acknowledge its successor as the successor to the applicable Non-Serviced Trustee, the applicable Non-Serviced
Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be.

(b)         If
any of the Trustee, the Certificate Administrator or the Master Servicer receives notice from a Rating Agency that the Master
Servicer is no longer an “approved” master servicer by any of the Rating Agencies rating the Certificates, then the
Trustee, the Certificate Administrator or the Master Servicer, as applicable, shall promptly notify each Non-Serviced Master Servicer
of the same.

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(c)         In
connection with the securitization of each Serviced Pari Passu Companion Loan (in each case, only while it is a Serviced Companion
Loan), upon the request of (and at the expense of) the related Serviced Companion Noteholder (or its designee), each of the Master
Servicer, the Special Servicer and the Trustee, as applicable, shall use reasonable efforts to cooperate with such Serviced Companion
Noteholder in attempting to cause the related Mortgagor to provide information relating to such Whole Loan and the related notes,
and that such holder reasonably determines to be necessary or appropriate, for inclusion in any disclosure document(s) relating
to such Other Securitization.

(d)         In
connection with the sale of any Non-Serviced Whole Loan by any Non-Serviced Special Servicer, upon receipt of any notices or
materials required to be furnished by the Non-Serviced Special Servicer to the holder of the related Non-Serviced Mortgage
Loan pursuant to the related Intercreditor Agreement, the Special Servicer shall, prior to the occurrence and continuance of
a Control Event, forward such materials to the Directing Certificateholder for its consent, if such consent is required. The
Special Servicer may (with the consent of the Directing Certificateholder prior to the occurrence and continuance of a
Control Event) waive any timing or delivery requirements related to such sale to the extent set forth in the related
Intercreditor Agreement.

(e)          With
respect to any Non-Serviced Mortgage Loan, the Directing Certificateholder, prior to the occurrence and continuance of a Control
Event, or the Senior Trust Advisor, following the occurrence and during the continuance of a Control Event, shall be entitled
to exercise any consultation rights held by the holder of such Mortgage Loan in its capacity as a “Non-Controlling Note
Holder” (or similar term identified in the related Intercreditor Agreement) under the related Intercreditor Agreement.

[End
of Article III]

Article
IV

distributions TO CERTIFICATEHOLDERS

Section
4.01    Distributions. (a) On each Distribution Date, to the extent of the Available Distribution Amount for
such Distribution Date, the Certificate Administrator shall be deemed to transfer the Lower-Tier Distribution Amount from the
Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account in the amounts and priorities set forth in
Section 4.01(b) with respect to each Class of Uncertificated Lower-Tier Interests, and immediately thereafter, shall make
distributions thereof from the Upper-Tier REMIC Distribution Account in the following order of priority, satisfying in full, to
the extent required and possible, each priority before making any distribution with respect to any succeeding priority:

(i)            first,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3A1 Certificates, the Class A-3A2 Certificates,
the Class A-4 Certificates, the Class A-SB Certificates, the Class X-A Certificates, the Class X-B Certificates, the Class X-C
Certificates, the Class X-D Certificates, the Class X-E Certificates, the Class X-F Certificates and the Class X-NR Certificates,
pro rata (based

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upon their respective entitlements to interest for such Distribution Date), in respect of interest, up
to an amount equal to the aggregate Interest Distribution Amount in respect of such Classes of Certificates for such Distribution
Date;

(ii)          second,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3A1 Certificates, the Class A-3A2
Certificates, the Class A-4 Certificates and the Class A-SB Certificates in reduction of the Certificate Balances thereof:
(I) prior to the Cross-Over Date (1) first, to the Holders of the Class A-SB Certificates, in an amount up to the
Principal Distribution Amount, until the outstanding Certificate Balance of the Class A-SB Certificates has been reduced to
the Class A-SB Planned Principal Balance for such Distribution Date; (2) second, to the Holders of the Class A-1
Certificates, in an amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions
specified in subclause (1) above have been made on such Distribution Date), until the outstanding Certificate Balance
of the Class A-1 Certificates has been reduced to zero; (3) third, to the Holders of the Class A-2 Certificates in an
amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions specified in subclauses
(1) and (2) above have been made on such Distribution Date), until the outstanding Certificate Balance of the
Class A-2 Certificates has been reduced to zero; (4) fourth, to the Holders of the Class A-3A1 Certificates and the
Class A-3A2 Certificates, pro rata (based upon their respective Certificate Balances as of such Distribution Date) in an
amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions specified in subclauses
(1) (2) and (3) above have been made on such Distribution Date), until the outstanding Certificate Balances
of the Class A-3A1 Certificates and the Class A-3A2 Certificates, have each been reduced to zero; (5) fifth, to the
Holders of the Class A-4 Certificates in an amount up to the Principal Distribution Amount (or the portion thereof remaining
after any distributions specified in subclauses (1) (2) (3) and (4) above have been made on such
Distribution Date), until the outstanding Certificate Balance of the Class A-4 Certificates has been reduced to zero; and (6) sixth,
to the Holders of the Class A-SB Certificates, in an amount up to the Principal Distribution Amount (or the portion thereof
remaining after any distributions specified in subclauses (1) (2) (3) (4) and (5) above
have been made on such Distribution Date), until the outstanding Certificate Balance of the Class A-SB Certificates has been
reduced to zero; and (II) on or after the Cross-Over Date, to the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4
and Class A-SB Certificates, pro rata (based on their respective Certificate Balances) in an amount equal to the
Principal Distribution Amount for such Distribution Date, until the Certificate Balance of each of the Class A-1, Class A-2,
Class A-3A1, Class A-3A2, Class A-4 and Class A-SB Certificates is reduced to zero;

(iii)        third,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3A1 Certificates, the Class A-3A2 Certificates,
the Class A-4 Certificates and the Class A-SB Certificates, pro rata (based upon the aggregate unreimbursed Collateral
Support Deficit allocated to each such Class), until all amounts of Collateral Support Deficit previously allocated to such Classes,
but not previously reimbursed, have been reimbursed in full;

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(iv)         fourth,
to the Holders of the Class A-S Certificates (and, with respect to exchanged portions of the Class A-S Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), in respect of interest, up to an amount equal
to the aggregate Interest Distribution Amount in respect of such Class of Certificates for such Distribution Date;

(v)          fifth,
after the Certificate Balances of the Class A-1 Certificates, Class A-2 Certificates, Class A-3A1 Certificates, Class A-3A2
Certificates, Class A-4 Certificates and Class A-SB Certificates have been reduced to zero, to the Holders of the Class A-S
Certificates (and, with respect to exchanged portions of the Class A-S Certificates, passed through to the Class EC
Distribution Account for distribution to the Class EC Certificates), in reduction of the Certificate Balance thereof, an
amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the
Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4 and Class A-SB Certificates on such Distribution Date), until the
outstanding Certificate Balance of the Class A-S Certificates has been reduced to zero (and, with respect to exchanged
portions of the Class A-S Certificates, such passed through amounts shall reduce the outstanding Certificate Balance
of the Class EC Certificates until reduced to zero);

(vi)          sixth,
to the Holders of the Class A-S Certificates (and, with respect to exchanged portions of the Class A-S Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), until all amounts of Collateral Support Deficit
previously allocated to the Class A-S Certificates (and, with respect to exchanged portions of the Class A-S Certificates, passed
through to the Class EC Certificates), but not previously reimbursed, have been reimbursed in full;

(vii)        seventh,
to the Holders of the Class B Certificates (and, with respect to exchanged portions of the Class B Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), in respect of interest, up to an amount equal
to the aggregate Interest Distribution Amount in respect of such Class of Certificates for such Distribution Date;

(viii)       eighth,
after the Certificate Balances of the Class A Certificates (including any portion that has been exchanged and converted to Class
EC Certificates) have been reduced to zero, to the Holders of the Class B Certificates (and, with respect to exchanged portions
of the Class B Certificates, passed through to the Class EC Distribution Account for distribution to the Class EC Certificates),
in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount (or the portion thereof
remaining after any distributions in respect of the Class A Certificates (including any portion that has been exchanged and converted
to Class EC Certificates) on such Distribution Date), until the outstanding Certificate Balance of the Class B Certificates has
been reduced to zero (and, with respect to exchanged portions of the Class B Certificates, such passed through amounts shall reduce
the outstanding Certificate Balance of the Class EC Certificates until reduced to zero);

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(ix)          ninth,
to the Holders of the Class B Certificates (and, with respect to exchanged portions of the Class B Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), until all amounts of Collateral Support Deficit
previously allocated to the Class B Certificates (and, with respect to exchanged portions of the Class B Certificates, passed
through to the Class EC Certificates), but not previously reimbursed, have been reimbursed in full;

(x)           tenth,
to the Holders of the Class C Certificates (and, with respect to exchanged portions of the Class C Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), in respect of interest, up to an amount equal
to the aggregate Interest Distribution Amount in respect of such Class of Certificates for such Distribution Date;

(xi)         eleventh,
after the Certificate Balances of the Class A Certificates and Class B Certificates (including any portion that has been
exchanged and converted to Class EC Certificates) have been reduced to zero, to the Holders of the Class C Certificates (and,
with respect to exchanged portions of the Class C Certificates, passed through to the Class EC Distribution Account for
distribution to the Class EC Certificates), in reduction of the Certificate Balance thereof, an amount equal to the
Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A
Certificates and Class B Certificates (including any portion that has been exchanged and converted to Class EC Certificates)
on such Distribution Date), until the outstanding Certificate Balance of the Class C Certificates has been reduced to zero
(and, with respect to exchanged portions of the Class C Certificates, such passed through amounts shall reduce the
outstanding Certificate Balance of the Class EC Certificates until reduced to zero);

(xii)        twelfth,
to the Holders of the Class C Certificates (and, with respect to exchanged portions of the Class C Certificates, passed through
to the Class EC Distribution Account for distribution to the Class EC Certificates), until all amounts of Collateral Support Deficit
previously allocated to the Class C Certificates (and, with respect to exchanged portions of the Class C Certificates, passed
through to the Class EC Certificates), but not previously reimbursed, have been reimbursed in full;

(xiii)        thirteenth,
to the Holders of the Class D Certificates, in respect of interest, up to an amount equal to the aggregate Interest Distribution
Amount in respect of such Class of Certificates for such Distribution Date;

(xiv)        fourteenth,
after the Certificate Balances of the Class A Certificates, Class B Certificates and Class C Certificates (and, if any exchange
for the Class EC Certificates has occurred, the Class EC Certificates) have been reduced to zero, to the Holders of the Class
D Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount (or the
portion thereof remaining after any distributions in respect of the Class A Certificates, Class B Certificates and Class C Certificates
(and, if any exchange for the Class EC Certificates has occurred, the Class EC Certificates) on such Distribution Date), until
the outstanding Certificate Balance of the Class D Certificates has been reduced to zero;

    	-238-

    	 

    

(xv)         fifteenth,
to the Holders of the Class D Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class
D Certificates, but not previously reimbursed, have been reimbursed in full;

(xvi)       sixteenth,
to the Holders of the Class E Certificates, in respect of interest, up to an amount equal to the aggregate Interest Distribution
Amount in respect of such Class of Certificates for such Distribution Date;

(xvii)      seventeenth,
after the Certificate Balances of the Class A Certificates, Class B Certificates, Class C Certificates (and, if any exchange
for the Class EC Certificates has occurred, the Class EC Certificates) and Class D Certificates have been reduced to zero, to
the Holders of the Class E Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal
Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A Certificates, Class B
Certificates, Class C Certificates (and, if any exchange for the Class EC Certificates has occurred, the Class EC
Certificates) and Class D Certificates on such Distribution Date), until the outstanding Certificate Balance of the
Class E Certificates has been reduced to zero;

(xviii)      eighteenth,
to the Holders of the Class E Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class
E Certificates, but not previously reimbursed, have been reimbursed in full;

(xix)        nineteenth,
to the Holders of the Class F Certificates, in respect of interest, up to an amount equal to the aggregate Interest Distribution
Amount in respect of such Class of Certificates for such Distribution Date;

(xx)         twentieth,
after the Certificate Balances of the Class A Certificates, Class B Certificates, Class C Certificates (and, if any exchange for
the Class EC Certificates has occurred, the Class EC Certificates), Class D Certificates and Class E Certificates have been reduced
to zero, to the Holders of the Class F Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal
Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A Certificates, Class B
Certificates, Class C Certificates (and, if any exchange for the Class EC Certificates has occurred, the Class EC Certificates),
Class D Certificates and Class E Certificates on such Distribution Date), until the outstanding Certificate Balance of the Class
F Certificates has been reduced to zero;

(xxi)        twenty-first,
to the Holders of the Class F Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class
F Certificates, but not previously reimbursed, have been reimbursed in full;

(xxii)       twenty-second,
to the Holders of the Class NR Certificates in respect of interest, up to an amount equal to the aggregate Interest Distribution
Amount in respect of such Class of Certificates for such Distribution Date;

(xxiii)      twenty-third,
after the Certificate Balances of the Class A Certificates, Class B Certificates, Class C Certificates (and, if any exchange for
the Class EC Certificates has occurred, the Class EC

    	-239-

    	 

    

Certificates), Class D Certificates, Class E Certificates and Class F Certificates
have been reduced to zero, to the Holders of the Class NR Certificates, in reduction of the Certificate Balance thereof, an amount
equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A
Certificates, Class B Certificates, Class C Certificates (and, if any exchange for the Class EC Certificates has occurred, the
Class EC Certificates), Class D Certificates, Class E Certificates and Class F Certificates on such Distribution Date), until
the outstanding Certificate Balance of the Class NR Certificates has been reduced to zero;

(xxiv)       twenty-fourth,
to the Holders of the Class NR Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class
NR Certificates, but not previously reimbursed, have been reimbursed in full; and 

(xxv)     twenty-fifth,
to the Holders of the Class R Certificates in respect of the Class UR Interest, the amount, if any, of the Available Distribution
Amount remaining in the Upper-Tier REMIC Distribution Account with respect to such Distribution Date.

If,
in connection with any Distribution Date, the Certificate Administrator has reported the amount of an anticipated distribution
to DTC based on the receipt of payments as of the Determination Date and additional Monthly Payments, balloon payments or unscheduled
principal payments are subsequently received by the Master Servicer and required to be part of the Available Distribution Amount
for such Distribution Date, the Master Servicer shall promptly notify the Certificate Administrator and the Certificate Administrator
will use commercially reasonable efforts to cause DTC to make the revised distribution on a timely basis on such Distribution
Date. None of the Master Servicer, the Special Servicer or the Certificate Administrator shall be liable or held responsible for
any resulting delay in the making of such distribution to Certificateholders solely on the basis of the actions described in the
preceding sentence.

(b)         On each Distribution Date, each Uncertificated Lower-Tier Interest shall be deemed to receive distributions
in respect of principal or reimbursement of Collateral Support Deficit in an amount equal to the amount of principal or reimbursement
of Collateral Support Deficit actually distributable to the Holders of the respective Related Certificates (including any portion
passed through to the related component of Class EC Certificates) as provided in Sections 4.01(a), 4.01(c),
4.01(f) and 4.01(i) such that at all times the Lower-Tier Principal Amount of each Class of Uncertificated Lower-Tier
Interests is equal to the Certificate Balance of the Class of Related Certificates (without regard to any exchange and conversion
of the Exchangeable Certificates for Class EC Certificates). On each Distribution Date, each Uncertificated Lower-Tier Interest
shall be deemed to receive distributions in respect of interest in an amount equal to the Interest Distribution Amount in respect
of its Related Certificates (including any portion passed through to the related component of Class EC Certificates) plus
a pro rata portion of the Interest Distribution Amount in respect of (i) in the case of the Class LA1, Class LA2,
Class LA3A1, Class LA3A2, Class LA4, Class LASB and Class LAS Uncertificated Lower-Tier Interests, the
Class X-A Certificates, (ii) in the case of the Class LB Uncertificated Interest, the Class X-B Certificates,
(iii) in the case of the Class LC Uncertificated Interest, the Class X-C Certificates, (iv) in the case of
the Class LD Uncertificated Interest, the

    	-240-

    	 

    

Class X-D
Certificates, (v) in the case of the Class LE Uncertificated Interests, the Class X-E Certificates, (vi) in the
case of the Class LF Uncertificated Interests, the Class X-F Certificates and (vii) in the case of the Class LNR Uncertificated
Interests, the Class X-NR Certificates, in each case, computed based on an interest rate equal to the excess of the Weighted
Average Net Mortgage Rate over the Pass-Through Rate of the Related Certificates (without regard to any exchange and conversion
of the Exchangeable Certificates for Class EC Certificates) and a notional amount equal to its related Lower-Tier Principal
Amount (without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates), in each
case to the extent actually distributable thereon as provided in Section 4.01(a). Amounts distributable pursuant to
this paragraph are referred to herein collectively as the “Lower-Tier Distribution Amount”, and shall be made
by the Certificate Administrator by deeming such Lower-Tier Distribution Amount to be withdrawn from the Lower-Tier REMIC Distribution
Account to be deposited in the Upper-Tier REMIC Distribution Account.

 As
of any date, the principal balance of each Uncertificated Lower-Tier Interest shall equal the Certificate Balance of the Related
Certificates with respect thereto (without regard to any exchange and conversion of the Exchangeable Certificates for Class EC
Certificates), as adjusted for the allocation of Collateral Support Deficits, as provided in Section 4.04(b) and 4.04(c),
of Certificate Deferred Interest as provided in Section 4.06. The initial principal balance of each Uncertificated Lower-Tier
Interest shall equal the respective Original Lower-Tier Principal Amount. The pass through rate with respect to each Uncertificated
Lower-Tier Interest shall be the rate per annum set forth in the Preliminary Statement hereto.

Any
amount that remains in the Lower-Tier REMIC Distribution Account on each Distribution Date after distribution of the Lower-Tier
Distribution Amount and distribution of Yield Maintenance Charges pursuant to Section 4.01(d)(iii) shall be distributed
to the Holders of the Class R Certificates in respect of the Class LR Interest (but only to the extent of the Available Distribution
Amount for such Distribution Date remaining in the Lower-Tier REMIC Distribution Account, if any).

(c)         On
and after the Distribution Date on which the Certificate Balances of the Subordinate Certificates (and, if any exchange for the
Class EC Certificates has occurred, the Class EC Certificates) have all been reduced to zero, any amounts representing reimbursements
of Collateral Support Deficits previously allocated to such Classes, if available, will be distributed to the Senior Certificates
pro rata based on their respective Certificate Balances as principal until the Certificate Balance of each Senior Certificate
is reduced to zero.

(d)         (i)
On each Distribution Date, Yield Maintenance Charges payable with respect to the Mortgage Loans calculated by reference to a U.S.
treasury rate collected during the related Due Period will be distributed by the Certificate Administrator to the Holders of each
Class of Regular Certificates (excluding the Class X-E, Class X-F, Class X-NR, Class E, Class F and Class NR Certificates) in
the following manner: (1) pro rata, among (w) the Certificates in YM Group A, (x) the Certificates in YM Group B, (y) the
Certificates in the YM Group C and (z) the Certificates in the YM Group D, based upon the aggregate of principal distributed to
the Classes of Principal Balance Certificates in each such YM Group on such Distribution Date (calculated without giving effect
to any exchange and conversion of Class A-S, Class B and

    	-241-

    	 

    

Class
C Certificates for Class EC Certificates), and (2) as among the Classes of Certificates in each YM Group, in the following
manner: (A) the Holders of each Class of Principal Balance Certificates in such YM Group will be entitled to receive on each
Distribution Date an amount of Yield Maintenance Charges payable with respect to the Mortgage Loans equal to the sum, for all
Mortgage Loan prepayments, of the product of (a) a fraction whose numerator is the amount of principal distributed to such
Class of Certificates on such Distribution Date and whose denominator is the total amount of principal distributed to all of
the Regular Certificates in that YM Group representing principal payments in respect of the Mortgage Loans on such
Distribution Date (in each case, calculated without giving effect to any exchange and conversion of Exchangeable Certificates
for Class EC Certificates), (b) the Base Interest Fraction for the related Principal Prepayment and such Class of Regular
Certificates, and (c) the Yield Maintenance Charges payable with respect to the Mortgage Loans collected during the related
Due Period and allocated to such YM Group (in each case, without giving effect to any exchange and conversion of the
Exchangeable Certificates for Class EC Certificates); provided, however, that in the case of any exchange and
conversion of portions of Exchangeable Certificates, amounts that would otherwise have been distributable to such exchanged
Exchangeable Certificate had they not been exchanged shall be distributed to the Class EC Certificates, and (B) any Yield
Maintenance Charges payable with respect to the Mortgage Loans allocated to such YM Group collected during the related Due
Period remaining after such distributions will be distributed (W) in the case of amounts distributable to YM Group A, to
the Class X-A Certificates, (X) in the case of amounts distributable to YM Group B, to the Class X-B Certificates, (Y) in the
case of amounts distributable to YM Group C, to the Class X-C Certificates and (Z) in the case of amounts distributable to YM
Group D, to the Class X-D Certificates. If there is more than one such Class of Certificates entitled to distributions of
principal on any particular Distribution Date on which Yield Maintenance Charges payable with respect to the Mortgage Loans
are distributable, the aggregate amount of such Yield Maintenance Charges payable with respect to the Mortgage Loans will be
allocated among all such Classes of Certificates up to, and on a pro rata basis in accordance with, their respective
entitlements thereto in accordance with the first sentence of this paragraph.

(ii)          No
Yield Maintenance Charge shall be distributed to the Holders of the Class X-E Certificates, Class X-F Certificates, Class X-NR
Certificates, Class E Certificates, Class F Certificates, Class NR Certificates or Class R Certificates. After the Certificate
Balances of the Class A-1 Certificates, Class A-2 Certificates, Class A-3A1 Certificates, Class A-3A2 Certificates, Class A-4
Certificates, Class A-SB Certificates, Class A-S Certificates, Class B Certificates, Class C Certificates and Class D Certificates
have been reduced to zero (without regard to any exchange and conversion of Exchangeable Certificates for Class EC Certificates),
all Yield Maintenance Charges with respect to the Mortgage Loans shall be distributed to the Holder of the Class X-B Certificates.

(iii)         All
distributions of Yield Maintenance Charges made in respect of the respective Classes of Regular Certificates (including any portion
passed through to the related component of Class EC Certificates) on each Distribution Date pursuant to Section 4.01(d)(i)
shall first be deemed to be distributed from the Lower-Tier REMIC to the Upper-Tier REMIC in respect of the Uncertificated
Lower-Tier Interests, pro rata based upon the amount of principal distributed in respect of each such Class of

    	-242-

    	 

    

Uncertificated
Lower-Tier Interests for such Distribution Date pursuant to Section 4.01(b) above.

(e)          [Reserved]

(f)          On
each Distribution Date, the Certificate Administrator shall withdraw amounts from the Gain-on-Sale Reserve Account (other
than amounts with respect to a Non-Serviced Mortgage Loan) and shall distribute such amounts to reimburse the Holders of the
Regular Certificates (in order of distribution priority) (first deeming such amounts to be distributed with respect to the
Related Uncertificated Lower-Tier Interests) up to an amount equal to all Collateral Support Deficits, if any, previously
deemed allocated to them and unreimbursed after application of the Available Distribution Amount for such Distribution Date.
Any amounts remaining in the Gain-on-Sale Reserve Account after such distributions shall be applied to offset future
Collateral Support Deficits with respect to the Principal Balance Certificates and related Collateral Support Deficits
in each case allocable to the Regular Certificates. Upon termination of the Trust Fund, any amounts remaining in the
Gain-on-Sale Reserve Account shall be distributed to the Class R Certificateholders from the Lower-Tier REMIC in respect of
the Class LR Interest. Amounts payable pursuant to this Section 4.01(g) to the Exchangeable Certificates that have
been exchanged and converted to Class EC Certificates shall be paid to the Holders of such Class EC Certificates.

(g)         All
distributions made with respect to each Class of Certificates on each Distribution Date shall be allocated pro rata among
the outstanding Certificates in such Class based on their respective Percentage Interests. Except as otherwise specifically provided
in Sections 4.01(h), 4.01(i) and 9.01, all such distributions with respect to each Class on each Distribution
Date shall be made to the Certificateholders of the respective Class of record at the close of business on the related Record
Date and shall be made by wire transfer of immediately available funds to the account of any such Certificateholder at a bank
or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Certificate Administrator
with wiring instructions no less than five (5) Business Days prior to the related Record Date (which wiring instructions may be
in the form of a standing order applicable to all subsequent Distribution Dates), or otherwise by check mailed to such Certificateholder
at its address in the Certificate Register. The final distribution on each Certificate (determined without regard to any possible
future reimbursement of Collateral Support Deficit previously allocated to such Certificate) will be made in like manner, but
only upon presentation and surrender of such Certificate at the offices of the Certificate Registrar or such other location specified
in the notice to Certificateholders of such final distribution.

Each
distribution with respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall
be responsible for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with
its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners
that it represents and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating
firm”) for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners
that it represents. None of the Trustee, the Certificate Administrator, the Certificate Registrar, the Depositor, the Master

    	-243-

    	 

    

Servicer,
the Special Servicer or the Underwriters shall have any responsibility therefor except as otherwise provided by this Agreement
or applicable law.

(h)         Except
as otherwise provided in Section 9.01, whenever the Certificate Administrator expects that the final distribution with
respect to any Class of Certificates (determined without regard to any possible future reimbursement of any amount of Collateral
Support Deficit previously allocated to such Class of Certificates) will be made on the next Distribution Date, the Certificate
Administrator shall, no later than the related P&I Advance Determination Date, post on the Certificate Administrator’s
Website pursuant to Section 3.15(b) a notice in electronic format to the effect that:

(i)          the
Certificate Administrator expects that the final distribution with respect to such Class of Certificates will be made on such
Distribution Date but only upon presentation and surrender of such Certificates at the offices of the Certificate Registrar or
such other location therein specified; and

(ii)         no
interest shall accrue on such Certificates from and after such Distribution Date.

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to this Section 4.01(h) shall not have been surrendered for cancellation within six (6) months after the
time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator,
directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender
of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders
shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount held in trust hereunder
by the Certificate Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final
payment thereof in accordance with this Section 4.01(h).

(i)          Distributions
in reimbursement of Collateral Support Deficit previously allocated to the Regular Certificates shall be made in the amounts and
manner specified in Section 4.01(a) or Section 4.01(c), as applicable, to the Holders of the respective Class otherwise
entitled to distributions of interest and principal on such Class on the relevant Distribution Date; provided that all
distributions in reimbursement of Collateral Support Deficit previously allocated to a Class of Certificates which has since been
retired shall be to the prior Holders that surrendered the Certificates of such Class upon retirement thereof and shall be made
by wire transfer (pursuant to the wiring instructions on file) or by check mailed to the address of each such prior Holder last
shown in the Certificate Register. Notice of any such distribution to a prior Holder shall be made in accordance with Section
12.05 at such last address. The amount of

    	-244-

    	 

    

the distribution to each such prior Holder shall be based upon the aggregate Percentage
Interest evidenced by the Certificates surrendered thereby. If the check mailed to any such prior Holder is returned uncashed,
then the amount thereof shall be set aside and held uninvested in trust for the benefit of such prior Holder, and the Certificate
Administrator shall attempt to contact such prior Holder in the manner contemplated by Section 4.01(h) as if such Holder
had failed to surrender its Certificates.

(j)          [Reserved].

(k)         On
the related Serviced Whole Loan Remittance Date, with respect to any Serviced Companion Loan, the Companion Paying Agent shall
make withdrawals and payments from the Companion Distribution Account for such Companion Loan in the following order of priority:

          
   (i)               to pay to the Master
Servicer any amounts deposited by the Master Servicer in the Companion Loan Distribution Account not required to be deposited
therein;

 

              (ii)             
to the extent permitted under the related Intercreditor Agreement and not otherwise previously reimbursed, to pay the Trustee
or the Certificate Administrator or any of their directors, officers, employees and agents, as the case may be, any amounts payable
or reimbursable to any such Person pursuant to Section 8.05, to the extent any such amounts relate solely to a Serviced
Whole Loan related to such Companion Loan, and such amounts are to be paid by the related Companion Holder pursuant to the related
Intercreditor Agreement;

 

              (iii)            
to pay all amounts remaining in the Companion Distribution Account related to such Serviced Companion Loan to the related Companion
Holder, in accordance with the related Intercreditor Agreement; and

 

              (iv)             to
clear and terminate the Companion Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

All
distributions from the Companion Distribution Account required hereunder shall be made by the Companion Paying Agent to the related
Companion Holder by wire transfer in immediately available funds on the Serviced Whole Loan Remittance Date to the account of
such Companion Holder or an agent therefor appearing on the Companion Register on the related Record Date (or, if no such account
so appears or information relating thereto is not provided at least five Business Days prior to the related Record Date, by check
sent by first class mail to the address of such Companion Holder or its agent appearing on the Companion Register). Any such account
shall be located at a commercial bank in the United States.

 

(l)             
If an exchange and conversion of Exchangeable Certificates for Class EC Certificates in accordance with Section 5.09
of this Agreement has occurred, the Certificate Administrator shall distribute to the Holders of the Class EC Certificates
received in such exchange and conversion from the Class EC Distribution Account on each Distribution Date pursuant to Section 3.05(e),
distributions equal to the aggregate amount of Interest Distribution Amounts, Accrued Interest From Recoveries, Principal Distribution
Amounts, Yield

 

    	-245-

    	 

    

 

Maintenance Charges, reimbursements of Collateral Support Deficits and other amounts that would otherwise be distributable
to the Exchangeable Certificates that were exchanged and converted for such Class EC Certificates. Such amounts shall first
be deemed distributed from the Upper-Tier REMIC Distribution Account to the Class EC Distribution Account pursuant to Section 3.05(d).
In addition, the Class EC Certificates received in such exchange and conversion will be allocated the aggregate amount of
Collateral Support Deficits, Prepayment Interest Shortfalls and other interest shortfalls (including those resulting from Appraisal
Reduction Events) that would otherwise be allocated to the Exchangeable Certificates that were exchanged and converted for such
Class EC Certificates, without duplication.

 

(m)           
On the first Distribution Date only, the Certificate Administrator shall withdraw $100 from the Upper-Tier REMIC Distribution
Account and distribute $100 to the Class X-C Certificates. Such distribution shall be deemed a payment of principal on the principal
balance of the REMIC regular interest represented by the Class X-C Certificates (such principal balance being $100) for federal
income tax purposes.

 

Section 4.02       
Statements to Certificateholders; CREFC® Investor Reporting Packages; Grant of Power of Attorney. (a)  On
each Distribution Date, the Certificate Administrator shall make available pursuant to Section 3.15(b) on the Certificate
Administrator’s Website to any Privileged Person a statement (substantially in the form set forth as Exhibit G
hereto and based in part upon information supplied to the Certificate Administrator in the related CREFC® Investor
Reporting Package in accordance with CREFC® guidelines) as to the distributions made on such Distribution Date
(each, a “Statement to Certificateholders”) which shall include:

 

(i)           the
amount of the distribution on such Distribution Date to the Holders of each Class of Certificates in reduction of the Certificate
Balance thereof;

 

  (ii)          
the amount of the distribution on such Distribution Date to the Holders of each Class of Certificates allocable to Distributable
Certificate Interest;

 

(iii)           the
aggregate amount of Advances made, with respect to the pool of Mortgage Loans, during the period from but not including the previous
Distribution Date to and including such Distribution Date and details of P&I Advances as of the P&I Advance Date;

 

(iv)         
 the aggregate amount of compensation paid to the Trustee and the Certificate Administrator, servicing compensation paid
to the Master Servicer and the Special Servicer, compensation paid to the Senior Trust Advisor and CREFC® Intellectual
Property Royalty License Fees paid to CREFC®, in each case, with respect to the Due Period for such Determination
Date together with detailed calculations of servicing compensation paid to the Master Servicer and the Special Servicer;

 

(v)           
 the aggregate Stated Principal Balance of the Mortgage Loans and any REO Loans, with respect to the pool of Mortgage Loans,
outstanding immediately before and immediately after such Distribution Date;

 

(vi)          
 the aggregate amount of unscheduled payments received;

 

    	-246-

    	 

    

 

(vii)        
   the number of loans, their aggregate principal balance, weighted average remaining term to maturity and weighted
average Mortgage Rate of the Mortgage Loans, with respect to the pool of Mortgage Loans, as of the end of the related Due Period
for such Distribution Date;

 

(viii)       
    the number and aggregate principal balance of the Mortgage Loans (A) delinquent 30-59 days, (B) delinquent
60-89 days, (C) delinquent 90 days to 119 days (and for each thirty (30) day period thereafter until liquidation), (D) current
but specially serviced or in foreclosure but not an REO Property and (E) for which the related Mortgagor is subject to oversight
by a bankruptcy court;

 

(ix)           
the value of any REO Property (and, with respect to any Serviced Whole Loan, the trust’s interest therein) included in the
Trust Fund as of the end of the related Determination Date for such Distribution Date, on a loan-by-loan basis, based on the most
recent Appraisal or valuation;

 

(x)            
the Available Distribution Amount;

 

(xi)           
the Accrued Certificate Interest, in respect of such Class of Certificates for such Distribution Date, separately identifying
any Certificate Deferred Interest for such Distribution Date allocated to such Class of Certificates;

 

(xii)           
the amount of the distribution on such Distribution Date to the Holders of such Class of Certificates allocable (A) to Yield
Maintenance Charges and (B) prepayment premiums;

 

(xiii)          
the Pass-Through Rate for such Class of Certificates for such Distribution Date and the next succeeding Distribution Date;

 

(xiv)            
the Scheduled Principal Distribution Amount and the Unscheduled Principal Distribution Amount for such Distribution Date, with
respect to the pool of Mortgage Loans;

 

(xv)          
 the Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates immediately before and immediately
after such Distribution Date, separately identifying any reduction therein as a result of the allocation of any Collateral Support
Deficit, on such Distribution Date and the aggregate amount of all reductions as a result of allocations of Collateral Support
Deficits, in respect of the Principal Balance Certificates to date and, with respect to the Class EC Certificates, the portion
of such amounts allocated to the Class A-S, Class B and Class C Certificates converted in an exchange for such
Class EC Certificates;

 

(xvi)            the
Certificate Factor for each Class of Certificates (other than the Class R Certificates) immediately following such Distribution
Date;

 

(xvii)     
      the amount of any Appraisal Reductions effected (including, with respect to any Serviced Whole
Loan, the amount allocable to the related Mortgage Loan and Serviced Companion Loan) in connection with such Distribution Date
on a loan-by-loan

 

    	-247-

    	 

    

 

basis and the total Appraisal Reduction effected in connection with such Distribution Date, together with a
detailed worksheet showing the calculation of each Appraisal Reduction on a current and cumulative basis;

 

(xviii)    
       the current Controlling Class;

 

(xix)            the
number and related Stated Principal Balance of any Mortgage Loans extended or modified since the previous Determination Date (or
in the case of the first Distribution Date, as of the Cut-off Date) on a loan-by-loan basis;

 

 

(xx)          
the amount of any remaining Class Unpaid Interest Shortfall for such Class and as of such Distribution Date;

 

(xxi)        
   a loan-by-loan listing of each Mortgage Loan which was the subject of a Principal Prepayment since the previous
Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) and the amount and the type of Principal
Prepayment occurring;

 

(xxii)      
     a loan-by-loan listing of each Mortgage Loan which was defeased since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date);

 

(xxiii)        
   all deposits into, withdrawals from, and the balance of the Interest Reserve Account on the P&I Advance
Date;

 

(xxiv)        
   in the case of the Class R Certificates, the amount of any distributions on such Certificates pursuant
to Sections 4.01(a), 4.01(b) and 4.01(f);

 

(xxv)             the
amount of the distribution on such Distribution Date to the Holders of such Class of Certificates in reimbursement of previously
allocated Collateral Support Deficit;

 

(xxvi)    
       the aggregate unpaid principal balance of the Mortgage Loans outstanding as of the close
of business on the related Determination Date, with respect to the pool of Mortgage Loans;

 

(xxvii)    
       with respect to any Mortgage Loan as to which a Liquidation Event occurred since the
previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) or prior to the related Determination
Date (other than a payment in full), (A) the loan number thereof, (B) the aggregate of all Liquidation Proceeds and
other amounts received in connection with such Liquidation Event (separately identifying the portion thereof allocable to distributions
on the Certificates), and (C) the amount of any Collateral Support Deficit allocated to the Principal Balance Certificates in
connection with such Liquidation Event and, with respect to the Class EC Certificates, the portion of such amounts allocated
to the Class A-S, Class B and Class C Certificates converted in an exchange for such Class EC Certificates;

 

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(xxviii)            with
respect to any REO Property (including, with respect to any Non-Serviced Whole Loan, the Trust Fund’s interest
therein) included in the Trust as to which the Special Servicer determined, in accordance with the Servicing Standard, that
all payments or recoveries with respect to the Mortgaged Property have been ultimately recovered since the previous
Determination Date, (A) the loan number of the related Mortgage Loan, (B) the aggregate of all Liquidation Proceeds
and other amounts received in connection with that determination (separately identifying the portion thereof allocable to
distributions on the Certificates), and (C) the amount of any realized loss or Collateral Support Deficit allocated to
the Principal Balance Certificates in respect of the related REO Loan in connection with that determination and, with respect
to Class EC Certificates, the portion of such amounts allocated to the Class A-S, Class B and Class C
Certificates converted in an exchange for such Class EC Certificates;

 

(xxix)            
the aggregate amount of interest on P&I Advances paid to the Master Servicer and the Trustee since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date), with respect to the pool of Mortgage Loans;

 

(xxx)            
the aggregate amount of interest on Servicing Advances (including with respect to any Serviced Whole Loan, the Trust Fund’s
interest therein) paid to the Master Servicer and the Trustee since the previous Determination Date (or in the case of the first
Distribution Date, as of the Cut-off Date);

 

(xxxi)         
  the then-current credit support levels for each Class of Certificates;

 

(xxxii)           
the aggregate amount of Yield Maintenance Charges on the Mortgage Loans collected since the previous Determination Date (or in
the case of the first Distribution Date, as of the Cut-off Date);

 

(xxxiii)            a
loan-by-loan listing of any material modification, extension or waiver of a Mortgage Loan;

 

(xxxiv)       
   a loan-by-loan listing of any material breach of the representations and warranties given with respect to a
Mortgage Loan by the applicable Mortgage Loan Seller; and

 

(xxxv)        
   an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its
affiliates with respect to the related Distribution Date, which information will be provided to the Certificate Administrator
by the Master Servicer.

 

In
the case of information furnished pursuant to clauses (i), (ii), (xi), (xii), (xv), (xx),
(xxiv) and (xxv), (i) the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of
each applicable Class and per Definitive Certificate and (ii) the Class EC Certificates shall receive such information with
respect to such clauses allocable to the Class A-S, Class B and Class C Certificates exchanged therefor.

 

Within
a reasonable period of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who
at any time during the calendar year

 

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was a Holder of a Certificate, a statement containing the information set forth in clauses (i)
and (ii) above as to the applicable Class, aggregated for such calendar year or applicable portion thereof during which
such person was a Certificateholder, together with such other information as the Certificate Administrator deems necessary or
desirable, or that a Certificateholder or Certificate Owner reasonably requests, to enable Certificateholders to prepare their
tax returns for such calendar year. Such obligation of the Certificate Administrator shall be deemed to have been satisfied to
the extent that substantially comparable information shall be provided by the Certificate Administrator pursuant to any requirements
of the Code as from time to time are in force.

 

(b)            
[Reserved.]

 

(c)            
Each of the Master Servicer and the Special Servicer may, at its sole cost and expense, make available by electronic media, bulletin
board service or Internet website (in addition to making information available as provided herein) any reports or other information
the Master Servicer or the Special Servicer, as applicable, is required or permitted to provide to any party to this Agreement,
the Rating Agencies or any Certificateholder or any prospective Certificateholder that has provided the Certificate Administrator,
the Master Servicer or the Special Servicer, as applicable, with an Investor Certification or has executed a “click-through”
confidentiality agreement in accordance with Section 3.15 hereof (which may be a licensed or registered investment
advisor) to the extent such action does not conflict with the terms of this Agreement (including without limitation, any requirements
to keep Privileged Information confidential), the terms of the Mortgage Loans or applicable law. Notwithstanding this paragraph,
the availability of such information or reports on the Internet or similar electronic media shall not be deemed to satisfy any
specific delivery requirements in this Agreement except as set forth herein. In connection with providing access to the Master
Servicer’s or Special Servicer’s Internet website, the Master Servicer or the Special Servicer, as applicable, shall
take reasonable measures to ensure that only such parties listed above may access such information including, without limitation,
requiring registration, a confidentiality agreement and acceptance of a disclaimer. The Master Servicer or the Special Servicer,
as applicable, shall not be liable for dissemination of this information in accordance with this Agreement, and neither the Master
Servicer nor the Special Servicer shall be responsible for any information delivered, produced, or made available pursuant to
Sections 3.15 and 4.02(c), other than information produced by the Master Servicer or Special Servicer, as applicable;
provided that such information otherwise meets the requirements set forth herein with respect to the form and substance
of such information or reports. The Master Servicer shall be entitled to attach to any report provided pursuant to this subsection,
any reasonable disclaimer with respect to information provided, or any assumptions required to be made by such report.

 

The
Special Servicer shall from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide the
Master Servicer with such information in its possession regarding the Specially Serviced Mortgage Loans and REO Properties as
may be necessary for the Master Servicer to prepare each report and any supplemental information to be provided by the Master
Servicer to the Certificate Administrator. Neither the Certificate Administrator nor the Depositor shall have any obligation to
recompute, verify or recalculate the information provided thereto by the Master Servicer. Unless the Certificate Administrator
has actual knowledge that any report or file received from the Master Servicer contains erroneous

 

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information, the Certificate
Administrator is authorized to rely thereon in calculating and making distributions to Certificateholders in accordance with Section 4.01,
preparing the Statement to Certificateholders required by Section 4.02(a) and allocating Collateral Support Deficit
to the Certificates in accordance with Section 4.04.

 

Notwithstanding
the foregoing, the failure of the Master Servicer or Special Servicer to disclose any information otherwise required to be
disclosed pursuant to this Section 4.02(c) or Section 4.02(d) shall not constitute a breach of this Section 4.02(c) or
of Section 4.02(d) to the extent the Master Servicer or the Special Servicer so fails because such disclosure, in
the reasonable belief of the Master Servicer or the Special Servicer, as the case may be, would violate any applicable law
or any provision of a Mortgage Loan document prohibiting disclosure of information with respect to the Mortgage Loans or the
Mortgaged Properties. The Master Servicer or the Special Servicer may affix to any information provided by it any disclaimer
it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party
hereto).

 

(d)            
Upon the written request of a Certificateholder, any beneficial owner of a Certificate, or any prospective purchaser of a Certificate
that is a Qualified Institutional Buyer and is designated by a Certificateholder or a beneficial owner of a Certificate as such
and, in any case, has delivered an Investor Certification to the Depositor and the Certificate Administrator, as soon as reasonably
practicable, at the expense of the requesting party, the Certificate Administrator shall make available to the requesting party
such information that is in the Certificate Administrator’s possession or can reasonably be obtained by the Certificate
Administrator as is requested by such person, for purposes of satisfying applicable reporting requirements under Rule 144A
under the Securities Act. Neither the Certificate Registrar, nor the Certificate Administrator shall have any responsibility for
the sufficiency under Rule 144A or any other securities laws of any available information so furnished to any person including
any prospective purchaser of a Certificate or any interest therein, nor for the content or accuracy of any information so furnished
which was prepared or delivered to them by another.

 

(e)            
The information to which any Certificateholder is entitled is limited to the information gathered and provided to the Certificateholder
by the parties hereto pursuant to this Agreement and by acceptance of any Certificate, each Certificateholder agrees that except
as specifically provided herein, no Certificateholder shall contact any Mortgagor directly with respect to any Mortgage Loan.

 

Section 4.03       
P&I Advances. (a)  On or before 4:00 p.m., New York City time, on each P&I Advance Date, the Master
Servicer shall either (i) remit to the Certificate Administrator for deposit from its own funds into the Lower-Tier REMIC
Distribution Account an amount equal to the aggregate amount of P&I Advances, if any, with respect to the Mortgage Loans to
be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account, for future distribution
to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances or (iii) make P&I
Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made. Any amounts
held in the Certificate Account for future distribution and so used to make P&I Advances shall be appropriately reflected
in the Master Servicer’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before
the next succeeding P&I

 

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Advance
Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest
in respect of which such P&I Advances were made). The Master Servicer shall notify the Certificate Administrator of (i) the
aggregate amount of P&I Advances with respect to the Mortgage Loans for a Distribution Date and (ii) the amount of any
Nonrecoverable P&I Advances with respect to the Mortgage Loans for such Distribution Date, on or before two (2) Business Days
prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time,
on any P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York
City time, on the related Distribution Date, unless the Master Servicer shall have cured such failure (and provided written notice
of such cure to the Trustee and the Certificate Administrator) by 11:00 a.m., New York City time, on such Distribution Date.
In the event that the Master Servicer fails to make a required P&I Advance hereunder, the Certificate Administrator shall
notify the Trustee of such circumstances by 4:30 p.m., New York City time, on the related P&I Advance Date. Notwithstanding
the foregoing, the portion of any P&I Advance equal to the CREFC® Intellectual Property Royalty License Fee
for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution
Account, but shall be deposited into the Certificate Account for payment to CREFC® on such Distribution Date.

 

(b)           
Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made by the
Master Servicer with respect to any Distribution Date and each Mortgage Loan shall be equal to the aggregate of: (i) the
Monthly Payments (net of related Servicing Fees) other than Balloon Payments, that were due on the Mortgage Loans (including the
Non-Serviced Mortgage Loans) and any REO Loan (excluding any portion allocable to any related Companion Loan, if applicable) during
the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date
(or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to
which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related
Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon
Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c)
below, the obligation of the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage
Loan (including any Non-Serviced Mortgage Loan) or REO Loan (other than any portion of an REO Loan related to a Companion Loan),
shall continue until the Distribution Date on which the proceeds, if any, received in connection with a Liquidation Event or the
disposition of the REO Property, as the case may be, with respect thereto are to be distributed. No P&I Advances shall be
made with respect to any Companion Loan.

 

(c)            
Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance
would, if made, constitute a Nonrecoverable P&I Advance. With respect to each Non-Serviced Mortgage Loan, the Master Servicer
will be required to make its determination (based on information provided by the applicable Non-Serviced Master Servicer and Non-Serviced
Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable Advance or that
any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to such Non-Serviced Mortgage Loan
independently of any determination made by the applicable

    	-252-

    	 

    

 

Non-Serviced Master Servicer or the applicable Non-Serviced Special
Servicer, as the case may be, under the applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion
Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage
Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is,
as applicable, a Nonrecoverable Advance, the Master Servicer shall provide the applicable Non-Serviced Master Servicer and Non-Serviced
Special Servicer written notice of such determination within two (2) Business Days of the date of such determination. If the Master
Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as
the case may be, that either has determined in accordance with the
applicable Non-Serviced Pooling Agreement with respect to a Non-Serviced Companion Loan, that any proposed advance under the applicable
Non-Serviced Pooling Agreement that is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced
Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Trustee may,
based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related
Non-Serviced Mortgage Loan, will be a Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not
be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the
Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related
Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, which determination may be as a result of consultation
with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise.
For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in
this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable
Advance.

 

(d)            
In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a),
the Master Servicer shall be entitled to pay the Trustee and itself (in that order of priority) as the case may be, out of any
amounts then on deposit in the Certificate Account (but in no event from any funds allocable to a Serviced Companion Noteholder,
except to the extent permitted pursuant to the terms of the related Intercreditor Agreement), interest at the Reimbursement Rate
in effect from time to time, accrued on the amount of such P&I Advance from the date made to but not including the date of
reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect
to a Mortgage Loan, until after the related Due Date has passed and any applicable grace period has expired or (ii) if the
related Monthly Payment is received after the Determination Date but on or prior to the related P&I Advance Date. The Master
Servicer shall reimburse itself and/or the Trustee, as the case may be, for any outstanding P&I Advance, subject to Section 3.19
of this Agreement, as soon as practicably possible after funds available for such purpose are deposited in the Certificate
Account.

 

(e)             
Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Yield Maintenance
Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any
Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced
Whole Loan, an Appraisal Reduction has been made in

 

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accordance with the related Non-Serviced Pooling Agreement and the Master
Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of
the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged
that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount
of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii),
and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage
Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole
Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which
is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the
immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled
Payment for the related Distribution Date.

 

(f)             
In no event shall either the Master Servicer or the Trustee be required to make a P&I Advance with respect to any Companion
Loan.

 

Section 4.04       
Allocation of Collateral Support Deficit. (a)  On each Distribution Date, immediately following the distributions
to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06,
the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for
purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal
collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v)
to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the
Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be
outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the
Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable
Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the
allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support
Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing
the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit so allocated to a Class of Regular
Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced
thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced
by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal
for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect
of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable
Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted
in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such
recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were
allocated Collateral Support Deficit, in

 

    	-254-

    	 

    

 

sequential order, in each case up to the amount of the unreimbursed Collateral Support
Deficit allocated to such Class of Principal Balance Certificates.

 

(b)            
On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution,
as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution
Date. Any such write off shall be allocated  first, to the Class NR Certificates, second, to the Class
F Certificates, third, to the Class E Certificates,  fourth, to the Class D Certificates,  fifth,
to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC
Certificates, sixth, to the Class B Certificates, without regard to the exchange
and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates,
without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then,
pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3A1, Class
A-3A2, Class A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates
have been reduced to zero.

 

(c)            
With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates pursuant
to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce
the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

 

(d)            
With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations
and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC
Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates
for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC
Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable
to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC
Certificates, without duplication.

 

Section 4.05       
Appraisal Reductions. (a)  For purposes of (x) determining the Controlling Class (and whether a Control
Event has occurred and is continuing) and (y) determining the Voting Rights of the related Classes for purposes of removal
of the Special Servicer or the Senior Trust Advisor, Appraisal Reductions (with respect to a Serviced Whole Loan, to the extent
allocated to the related Mortgage Loan) will be allocated to each Class of Certificates (other than the Class R Certificates)
in reverse sequential order to notionally reduce the related Certificate Balances (without giving effect to any exchange of the
Exchangeable Certificates for Class EC Certificates) until the Certificate Balance of each such Class is reduced to zero
(i.e., first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates,
fourth, to the Class D Certificates, fifth, to the Class C Certificates (without giving effect to any exchange of
the Exchangeable Certificates for Class EC Certificates), sixth, to the Class B Certificates (without giving effect
to any exchange of the Exchangeable Certificates for Class EC Certificates), and seventh, to the Class A-S Certificates
(without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates). Following

 

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receipt from
the Special Servicer, the Master Servicer shall notify the Certificate Administrator of the amount of any Appraisal Reduction
with respect to each Mortgage Loan (which notification may be satisfied through delivery of such information included in the CREFC®
Loan Periodic Update File or the CREFC® Appraisal Reduction Template included in the CREFC® Investor Reporting Package).
Based on information in its possession, the Certificate Administrator shall determine from time to time which Class of Certificates
is the Controlling Class. The Certificate Administrator shall provide notice of the identity of the Controlling Class as set forth
in Section 3.28(m).

 

(b)            
(i)  The Holders of the majority of Voting Rights of any Class of Control Eligible Certificates that is determined at
any time of determination to no longer be the Controlling Class (any such Class, an “Appraised-Out Class”)
as a result of an Appraisal Reduction in respect of such Class shall have the right, at their sole expense, to require the Special
Servicer to order a second Appraisal with respect to any Mortgage Loan (or Serviced Whole Loan) for which an Appraisal Reduction
Event has occurred (such Holders, the “Requesting Holders”). The Special Servicer shall use its reasonable
efforts to ensure that such second Appraisal is delivered within thirty (30) days from receipt of the Requesting Holders’
written request and shall ensure that such Appraisal is prepared on an “as-is” basis by an MAI appraiser (provided
that such MAI appraiser may not be the same MAI appraiser that provided the Appraisal in respect of which the Requesting Holders
are requesting the Special Servicer to obtain an additional Appraisal).

 

                            
(ii)             Upon receipt of any supplemental Appraisal pursuant
to clause (i) above, the Special Servicer shall determine, in accordance with the Servicing Standard, whether, based
on its assessment of such supplemental Appraisal, any recalculation of the Appraisal Reduction is warranted, and if so warranted,
the Special Servicer shall recalculate the Appraisal Reduction based on such supplemental appraisal. If required by such recalculation,
the Appraised-Out Class shall be reinstated as the Controlling Class (or reinstated as if an AB Control Appraisal Period were
not in existence, as applicable) and each other Appraised-Out Class shall, if applicable, have its related Certificate Balance
notionally restored to the extent required by such recalculation of the Appraisal Reduction. The Holders of an Appraised-Out Class
requesting any supplemental Appraisal pursuant to clause (i) above shall refrain from exercising any direction, control,
consent and/or similar rights of the Controlling Class until such time, if any, as the Class is reinstated as the Controlling
Class (such period beginning upon receipt by the Special Servicer of any request to obtain a supplemental Appraisal pursuant to
clause (i) above to but excluding the date on which either (A) the Special Servicer determines that no recalculation
of the Appraisal Reduction is warranted or (B) the Special Servicer recalculates the Appraisal Reduction based on the supplemental
Appraisal, the “Appraisal Review Period”). The rights of the Controlling Class during each Appraisal Review
Period shall be exercised by the most senior Control Eligible Certificates, if any.

 

(c)            
With respect to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and each Serviced Whole Loan as to which an Appraisal
Reduction Event has occurred (unless such Mortgage Loan or Serviced Whole Loan has become a Corrected Mortgage Loan (for such
purposes taking into account any amendment or modification of such Mortgage Loan, any related Companion Loan or Serviced Whole
Loan)), the Special Servicer shall (1) within

 

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thirty
(30) days of each anniversary of the related Appraisal Reduction Event, and (2) upon its determination that the value of
the related Mortgaged Property has materially changed, notify the Master Servicer of the occurrence of such anniversary or determination
and order an Appraisal (which may be an update of a prior Appraisal), the cost of which shall be paid by the Master Servicer as
a Servicing Advance or to the extent it would be a Nonrecoverable Advance, an expense of the Trust, or conduct an internal valuation,
as applicable and, promptly following receipt of any such Appraisal or performance of such valuation (or receipt of any Appraisal
obtained in accordance with Section 4.05(b) above), shall deliver a copy thereof to the Master Servicer, the Certificate
Administrator, the Trustee, the Senior Trust Advisor and (prior to the occurrence
of any Consultation Termination Event) the Directing Certificateholder. Based upon such Appraisal or internal valuation (or any
Appraisal obtained in accordance with Section 4.05(b) above) and receipt of information reasonably requested by the
Special Servicer from the Master Servicer reasonably necessary to calculate the Appraisal Reduction that is either in the Master
Servicer’s possession or reasonably obtainable by the Master Servicer, the Special Servicer shall determine or redetermine,
as applicable, and report to the Master Servicer, the Certificate Administrator, the Trustee, the Senior Trust Advisor and (prior
to the occurrence of any Consultation Termination Event) the Directing Certificateholder, the amount and calculation or recalculation
of the Appraisal Reduction with respect to such Mortgage Loan, Companion Loan, as applicable, and such report shall be delivered
in the CREFC® Appraisal Reduction Template format; provided, however, that the Special Servicer shall
not be liable for failure to comply with such duties insofar as such failure results from a failure of the Master Servicer to
provide sufficient information to the Special Servicer to comply with such duties or failure by the Master Servicer to otherwise
comply with its obligations hereunder. Such report shall also be forwarded by the Master Servicer (or the Special Servicer if
the related Mortgage Loan is a Specially Serviced Mortgage Loan), to the extent the related Serviced Companion Loan has been included
in an Other Securitization, to the Other Servicer of such Other Securitization into which the related Serviced Companion Loan
has been sold, or to the holder of any related Serviced Companion Loan by the Master Servicer (or the Special Servicer if the
related Mortgage Loan is a Specially Serviced Mortgage Loan). If the Special Servicer is required to redetermine the Appraisal
Reduction, such redetermined Appraisal Reduction shall replace the prior Appraisal Reduction with respect to such Mortgage Loan,
Companion Loan or Serviced Whole Loan, as applicable. Prior to the occurrence of a Consultation Termination Event, the Special
Servicer shall consult with the Directing Certificateholder (or, with respect to any Serviced AB Whole Loan, prior to the occurrence
and continuance of a related AB Control Appraisal Period, the holder of the related AB Subordinate Companion Loan, to the extent
required under the related Intercreditor Agreement) with respect to any Appraisal, valuation or downward adjustment in connection
with an Appraisal Reduction. Notwithstanding the foregoing but subject to Section 4.05(b), the Special Servicer will
not be required to obtain an Appraisal or conduct an internal valuation, as applicable, with respect to a Mortgage Loan or related
Companion Loan, or Serviced Whole Loan as to which an Appraisal Reduction Event has occurred to the extent the Special Servicer
has obtained an Appraisal or conducted such a valuation (in accordance with requirements of this Agreement), as applicable, with
respect to the related Mortgaged Property within the twelve-month period immediately prior to the occurrence of such Appraisal
Reduction Event. Instead, the Special Servicer may use such prior Appraisal or valuation, as applicable, in calculating any Appraisal
Reduction with respect to such Mortgage Loan or related Companion Loan, or Serviced Whole Loan; provided that the Special
Servicer is not aware of any material

 

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change to the related Mortgaged Property having occurred and affecting the validity of such
Appraisal or valuation.

 

The
Master Servicer shall deliver by electronic mail to the Special Servicer any information in its possession that is
reasonably required to determine, calculate, redetermine or recalculate any Appraisal Reduction, using reasonable efforts to
deliver such information, within four (4) Business Days following the Special Servicer’s reasonable request therefor
(which request shall be made promptly, but in no event later than ten (10) Business Days, after the Special Servicer’s
receipt of the applicable Appraisal or preparation of the applicable internal valuation); provided, the Special
Servicer’s failure to timely make such request shall not relieve the Master Servicer of its obligation to use
reasonable efforts to provide such information to the Special Servicer within four (4) Business Days following the Special
Servicer’s reasonable request.

 

(d)             
Any Mortgage Loan (other than a Non-Serviced Mortgage Loan), any related Serviced Companion Loan and any Serviced Whole Loan,
as applicable, previously subject to an Appraisal Reduction, which has become a Corrected Mortgage Loan (for such purposes taking
into account any amendment or modification of such Mortgage Loan, any related Serviced Companion Loan and any Serviced Whole Loan,
as applicable), and with respect to which no other Appraisal Reduction Event has occurred and is continuing, will no longer be
subject to an Appraisal Reduction. Any Appraisal Reduction in respect of a Non-Serviced Whole Loan shall be calculated by the
applicable party under and in accordance with and pursuant to the terms of the applicable Non-Serviced Pooling Agreement.

 

(e)             
Each Serviced Whole Loan will be treated as a single Mortgage Loan for purposes of calculating an Appraisal Reduction with respect
to the Mortgage Loan and Companion Loan(s) that comprise such Serviced Whole Loan. Any Appraisal Reduction in respect of a Serviced
AB Whole Loan will be allocated in accordance with the related Intercreditor Agreement or, if no allocation is specified in the
related Intercreditor Agreement, then, first, to the related AB Subordinate Companion Loan (until the principal balance thereof
is notionally reduced to zero by such Appraisal Reductions) and second, to the related AB Mortgage Loan. Any Appraisal Reduction
in respect of any Serviced Pari Passu Whole Loan will be allocated in accordance with the related Intercreditor Agreement or,
if no allocation is specified in the related Intercreditor Agreement, then, pro rata, between the related Serviced Pari
Passu Mortgage Loan and the related Serviced Pari Passu Companion Loan based upon their respective outstanding principal balances.

 

Section 4.06       
Certificate Deferred Interest. (a)  On each Distribution Date, the amount of interest distributable to a Class
of Regular Certificates (other than the Class X Certificates) shall be reduced by an amount equal to the amount of Mortgage
Deferred Interest for all Mortgage Loans for the Due Dates occurring in the related Due Period allocated to such Class of Certificates,
such Mortgage Deferred Interest to be allocated  first, to the Class NR Certificates, second, to the Class F
Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to
the Class C Certificates (without giving effect to any exchange of the

 

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Exchangeable Certificates for Class EC Certificates),
sixth, to the Class B Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC
Certificates), seventh, to the Class A-S Certificates (without giving effect to any exchange of the Exchangeable Certificates
for Class EC Certificates), and then pro rata (based upon Accrued Certificate Interest) to the Class A-1,
Class A-2, Class A-3A1, Class A-3A2, Class A-4 and Class A-SB Certificates, in each case up to the respective Accrued
Certificate Interest for each such Class of Certificates for such Distribution Date.

 

(b)            
On each Distribution Date, the Certificate Balances of the Class A-1 Certificates, Class A-2 Certificates, Class A-3A1
Certificates, Class A-3A2 Certificates, Class A-4 Certificates, Class A-SB Certificates, Class A-S Certificates,
Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates
and Class NR Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates)
shall be increased by the amount of the Certificate Deferred Interest allocated to such Class of Certificates on such Distribution
Date pursuant to Section 4.06(a)(i) above.

 

(c)             
With respect to any Distribution Date, any Certificate Deferred Interest with respect to such Distribution Date allocated pursuant
to Section 4.06(a) to a Class of Principal Balance Certificates shall be allocated in reduction of the amount of interest
distributable to the Related Uncertificated Lower-Tier Interests with respect thereto. On each Distribution Date, to the extent
provided in Section 4.06(b) with respect to the Related Certificates, Certificate Deferred Interest will be added
to the Lower-Tier Principal Amount of the Uncertificated Lower-Tier Interests in the same manner as the interest thereon was reduced
pursuant to the preceding sentence.

 

(d)            
With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations
and distributions under Section 4.06(a) of this Agreement as between the Exchangeable Certificates and the Class EC
Certificates, all amounts of Certificate Deferred Interest of each Class of Exchangeable Certificates for any Distribution Date
shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided,
however, that all amounts of Certificate Deferred Interest that would otherwise be allocable to Exchangeable Certificates
that have been exchanged and converted for Class EC Certificates shall be deemed allocated to such Class EC Certificates,
without duplication.

 

Section 4.07       
Grantor Trust Reporting. (a) The parties intend that the portion of the Trust Fund constituting the Grantor Trust,
which consists of the uncertificated regular interests in the Upper-Tier REMIC represented by any Exchangeable Certificates that
have been exchanged and converted for Class EC Certificates, the Class EC Distribution Account and proceeds thereof,
shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier REMIC) shall be
conducted so as to qualify such portion as, a “grantor trust” under subpart E, part I of subchapter J of
the Code, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, neither
the Trustee nor the Certificate Administrator shall have the power to vary the investment of the holders of the Class EC
Certificates in the Grantor Trust so as to improve their rate of return. The Certificate Administrator shall prepare or cause
to be prepared, submit to the Trustee for execution (and the Trustee shall timely execute and timely return to the Certificate
Administrator) and timely file all Tax Returns in respect of the Grantor Trust. In addition, the Certificate Administrator shall
(A) file, or cause to be filed, Internal Revenue Service Form 1041 (or, in the event the Grantor Trust is a WHFIT, information
will be provided on Form 1099) or

 

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such other form as may be applicable with the Internal Revenue Service with copies of the
statements in the following clause and (B) furnish, or cause to be furnished, to the holders of Class EC Certificates,
their allocable share of income and expense with respect to the Exchangeable Certificates and the Class EC Distribution Account,
in the time or times and in the manner required by the Code.

 

(b)            
The Grantor Trust is a WHFIT that is a WHMT. The Certificate Administrator will report as required under the WHFIT Regulations
to the extent such information as is reasonably necessary to enable the Certificate Administrator to do so is provided to the
Certificate Administrator on a timely basis. The Certificate Administrator is hereby
directed to assume that DTC is the only “middleman” as defined by the WHFIT Regulations unless the Depositor provides
the Certificate Administrator with the identities of other “middlemen” that are Certificateholders. The Certificate
Administrator shall be entitled to indemnification in accordance with the terms of this Agreement in the event that the Internal
Revenue Service makes a determination that the first sentence of this paragraph is incorrect.

 

(c)             
The Certificate Administrator shall report required WHFIT information using the accrual method, except to the extent the WHFIT
Regulations specifically require a different method. The Certificate Administrator shall be under no obligation to determine whether
any Certificateholder uses the cash or accrual method. The Certificate Administrator shall make available (via its website) WHFIT
information to Certificateholders annually. In addition, the Certificate Administrator shall not be responsible or liable for
providing subsequently amended, revised or updated information to any Certificateholder, unless requested by the Certificateholder.

 

(d)             
The Certificate Administrator shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor
for any penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided to
the Certificate Administrator or (ii) incomplete, inaccurate or untimely information being provided to the Certificate Administrator.
Each holder of Class EC Certificates, by acceptance of its interest in such class of securities, will be deemed to have agreed
to provide the Certificate Administrator with information regarding any sale of such securities, including the price, amount of
proceeds and date of sale. Absent receipt of information regarding any sale of Class EC Certificates, including the price,
amount of proceeds and date of sale from the beneficial owner thereof or the Depositor, the Certificate Administrator shall assume
there is no secondary market trading of WHFIT interests.

 

(e)             
To the extent required by the WHFIT Regulations, the Certificate Administrator shall use reasonable efforts to publish on an appropriate
website the CUSIP for the Class NR Certificates. The CUSIP so published will represent the Rule 144A CUSIP. The Certificate
Administrator shall make reasonable good faith efforts to keep the website accurate and updated to the extent such CUSIP has been
received. Absent the receipt of such CUSIP, the Certificate Administrator will use a reasonable identifier number in lieu of a
CUSIP. The Certificate Administrator shall not be liable for investor reporting delays that result from the receipt of inaccurate
or untimely CUSIP information.

 

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Section 4.08       
Investor Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document Request Tool. (a)  The
Certificate Administrator shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor
Q&A Forum” shall be a service available on the Certificate Administrator’s Website, where (i) Certificateholders
and beneficial owners of Certificates that are Privileged Persons may submit questions to (A) the Certificate Administrator
relating to the Statement to Certificateholders, (B) the Master Servicer or the Special Servicer, as applicable, relating
to the reports being made available pursuant to Section 3.15(b), the Mortgage Loans (excluding any Non-Serviced Mortgage
Loan) or the related Mortgaged Properties or (C) the Senior Trust Advisor relating to the Senior Trust Advisor Annual Report
or actions by the Special Servicer referenced in any Senior Trust Advisor Annual Report (each an “Inquiry”
and collectively, “Inquiries”), and (ii) Privileged Persons may view Inquiries that have been previously
submitted and answered, together with the answers thereto. Upon receipt of an Inquiry for the Master Servicer, the Special Servicer,
Certificate Administrator or the Senior Trust Advisor, as applicable, and in the case of any Inquiry relating to a Non-Serviced
Mortgage Loan, to the related Non-Serviced Master Servicer or related Non-Serviced Special Servicer, as applicable, the Certificate
Administrator shall forward the Inquiry to the appropriate person (in the case of the Master Servicer to the following: REAM_InvestorRelations@wellsfargo.com),
in each case within a commercially reasonable period of time following receipt thereof. Following receipt of an Inquiry, the Master
Servicer, the Special Servicer, the Certificate Administrator or the Senior Trust Advisor, as applicable, unless such party determines
not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Master Servicer, Special Servicer
or the Senior Trust Advisor, as applicable, shall be delivered to the Certificate Administrator by electronic mail. In the case
of an Inquiry relating to a Non-Serviced Mortgage Loan, the Certificate Administrator shall make reasonable efforts to obtain
an answer from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as applicable; provided
that the Certificate Administrator shall not be responsible for the content of such answer or any delay or failure to obtain
such answer. The Certificate Administrator shall post (within a commercially reasonable period of time following preparation or
receipt of such answer, as the case may be) such Inquiry and the related answer to the Certificate Administrator’s Website.
If the Certificate Administrator, the Master Servicer, the Special Servicer or the Senior Trust Advisor determines, in its respective
sole discretion, that (i) any Inquiry is beyond the scope of the topics described above, (ii) answering any Inquiry
would not be in the best interests of the Trust Fund and/or the Certificateholders, (iii) answering any Inquiry would be
in violation of applicable law, the applicable Mortgage Loan documents or this Agreement, (iv) answering any Inquiry would
materially increase the duties of, or result in significant additional cost or expense to, the Master Servicer, the Special Servicer,
the Certificate Administrator or the Senior Trust Advisor, as applicable, (v) answering any Inquiry would require the disclosure
of Privileged Information, or (vi) answering any Inquiry is otherwise, for any reason, not advisable, it shall not be required
to answer such Inquiry and, in the case of the Master Servicer, the Special Servicer or the Senior Trust Advisor, shall promptly
notify the Certificate Administrator of such determination. In addition, no party shall post or otherwise disclose any direct
communications with the Directing Certificateholder as part of its response to any Inquiries. The Certificate Administrator shall
notify the Person who submitted such Inquiry in the event that the Inquiry will not be answered. Any notice by the Certificate
Administrator to the Person who submitted an Inquiry that will not be answered shall include the following statement: “Because
the Pooling and Servicing

 

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Agreement
provides that the Master Servicer, the Special Servicer, the Certificate Administrator and the Senior Trust Advisor shall
not answer an Inquiry if it determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of
the topics described in the Pooling and Servicing Agreement, (ii) answering any Inquiry would not be in the best
interests of the Trust and/or the Certificateholders, (iii) answering any Inquiry would be in violation of applicable
law or the applicable Mortgage Loan documents, (iv) answering any Inquiry would materially increase the duties of, or
result in significant additional costs or expenses to the Trustee, the Master Servicer, the Special Servicer, the Certificate
Administrator or Senior Trust Advisor, as applicable, (v) answering any Inquiry would require the disclosure of Privileged
Information, or (vi) answering any Inquiry is otherwise, for any reason, not advisable, no inference should or may be
drawn from the fact that the Master Servicer, the Special Servicer, the Certificate Administrator or the Senior Trust Advisor
has declined to answer the Inquiry.” Answers posted on the Investor Q&A Forum will be attributable only to the
respondent, and shall not be deemed to be answers from any of the Depositor, the Underwriters or any of their respective
Affiliates. None of the Underwriters, Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee or the Senior Trust Advisor or any of their respective Affiliates will certify to any of the information posted
in the Investor Q&A Forum and no such party shall have any responsibility or liability for the content of any such
information. The Certificate Administrator shall not be required to post to the Certificate Administrator’s Website any
Inquiry or answer thereto that the Certificate Administrator determines, in its sole discretion, is administrative or
ministerial in nature. The Investor Q&A Forum will not reflect questions, answers and other communications that are not
submitted via the Certificate Administrator’s Website. Notwithstanding the foregoing, the Senior Trust Advisor shall
not be required to respond to any Inquiries from Certificateholders for which its response would require the Senior
Trust Advisor to provide information to such inquiring Certificateholders that they are otherwise not entitled to receive
under the terms of this Agreement.

 

(b)            
The Certificate Administrator shall make available to any Certificateholder and any Certificate Owner that is a Privileged Person,
the Investor Registry. The “Investor Registry” shall be a voluntary service available on the Certificate Administrator’s
Website, where Certificateholders and Certificate Owners that are Privileged Persons can register and thereafter obtain information
with respect to any other Certificateholder or Certificate Owner that has so registered. Any person registering to use the Investor
Registry will be required to certify that (a) it is a Certificateholder or a Certificate Owner and a Privileged Person and (b)
it grants authorization to the Certificate Administrator to make its name and contact information available on the Investor Registry
for at least forty-five (45) days from the date of such certification to persons entitled to access to the Investor Registry.
Such Person shall then be asked to enter certain mandatory fields such as the individual’s name, the company name and email
address, as well as certain optional fields such as address, phone, and Class(es) of Certificates owned. If any Certificateholder
or Certificate Owner notifies the Certificate Administrator that it wishes to be removed from the Investor Registry (which notice
may not be within forty-five (45) days of its registration), the Certificate Administrator shall promptly remove it from the Investor
Registry. The Certificate Administrator will not be responsible for verifying or validating any information submitted on the Investor
Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate Administrator may
require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

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(c)             
The 17g-5 Information Provider shall make available, only to NRSROs, the Rating Agency Q&A Forum and Document Request Tool.
The “Rating Agency Q&A Forum and Document Request Tool” shall be a service available on the 17g-5 Information
Provider’s Website, where NRSROs may (i) submit questions to the Certificate Administrator relating to any Statements
to Certificateholders, or submit questions to the Master Servicer or the Special Servicer, as applicable, relating to the reports
prepared by such parties (each such submission, a “Rating Agency Inquiry”), and (ii) view Rating Agency
Inquiries that have been previously submitted and answered, together with the responses thereto. In addition, NRSROs may use the
forum to submit requests (each such submission also, a “Rating Agency Inquiry”) to the Master Servicer for
loan-level reports and other related information. Upon receipt of a Rating Agency Inquiry for the Master Servicer or the Special
Servicer, the 17g-5 Information Provider
shall forward the Rating Agency Inquiry to the appropriate person (in the case of the Master Servicer to the following: RAInvRequests@wellsfargo.com),
in each case within a commercially reasonable period of time following receipt thereof. Following receipt of a Rating Agency Inquiry
from the 17g-5 Information Provider, the Master Servicer or the Special Servicer, as applicable, unless it determines not to answer
such Rating Agency Inquiry as provided below, shall reply by email to the Certificate Administrator. The 17g-5 Information Provider
shall post (within a commercially reasonable period of time following receipt of such response) such Rating Agency Inquiry with
the related response thereto (or such reports, as applicable) to the Rating Agency Q&A Forum and Document Request Tool. Any
reports posted by the 17g-5 Information Provider in response to an inquiry may be posted on a separate website or web page accessible
by a link on the 17g-5 Information Provider’s Website. If the Certificate Administrator, the Master Servicer or the Special
Servicer determines, in its respective sole discretion, that (i) answering any Rating Agency Inquiry would be in violation
of applicable law, the Servicing Standard, this Agreement or any Mortgage Loan documents, (ii) answering any Rating Agency
Inquiry would or is reasonably expected to result in a waiver of an attorney-client privilege with, or the disclosure of attorney
work product, or (iii) (A) answering any Rating Agency Inquiry would materially increase the duties of, or result in
significant additional cost or expense to, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable,
and (B) the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, determines in accordance
with the Servicing Standard (or in good faith, in the case of the Certificate Administrator) that the performance of such duties
or the payment of such costs and expenses is beyond the scope of its duties in its capacity as Certificate Administrator, Master
Servicer or Special Servicer, as applicable, under this Agreement, it shall not be required to answer such Rating Agency Inquiry
and shall promptly notify the 17g-5 Information Provider by email of such determination. The 17g-5 Information Provider shall
promptly thereafter post the Rating Agency Inquiry with the reason it was not answered to the Rating Agency Q&A Forum and
Document Request Tool. The 17g-5 Information Provider will not be liable for the failure by any other such Person to so answer.
Questions posted on the Rating Agency Q&A Forum and Document Request Tool shall not be attributed to the submitting NRSRO.
Answers posted on the Rating Agency Q&A Forum and Document Request Tool will be attributable only to the respondent, and shall
not be deemed to be answers from any other person. None of the Underwriters, the Depositor, nor any of their respective Affiliates
will certify to any of the information posted in the Rating Agency Q&A Forum and Document Request Tool and no such party shall
have any responsibility or liability for the content of any such information. The 17g-5 Information Provider shall not be required
to post to the 17g-5 Information Provider’s Website

 

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any Rating Agency Inquiry or answer thereto that the 17g-5 Information
Provider determines, in its sole discretion, is administrative or ministerial in nature. The Rating Agency Q&A Forum and Document
Request Tool will not reflect questions, answers and other communications that are not submitted via the 17g-5 Information Provider’s
Website.

 

[End
of Article IV]

 

 

Article V

THE CERTIFICATES

 

Section 5.01       
The Certificates. (a)  The Certificates will be substantially in the respective forms annexed hereto as Exhibits A-1
through and including A-22, with such appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Agreement or as may, in the reasonable judgment of the Certificate Registrar, be necessary, appropriate
or convenient to comply, or facilitate compliance, with applicable laws, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be required by law, or as may, consistently herewith, be
determined by the officers executing such Certificates, as evidenced by their execution thereof. The Class X Certificates will
be issuable only in minimum Denominations of authorized initial Notional Amount of not less than $1,000,000 and in integral multiples
of $1.00 in excess thereof. The Offered Certificates (other than the Class X-A Certificates and Class X-B Certificates) will be
issuable only in minimum Denominations of authorized initial Certificate Balance of not less than $10,000, and in integral multiples
of $1.00 in excess thereof. The Non-Registered Certificates (other than the Class X-C, Class X-D, Class X-E, Class X-F, Class
X-NR and Class R Certificates) will be issuable in minimum Denominations of authorized initial Certificate Balance of not
less than $100,000, and in integral multiples of $1.00 in excess thereof. If the Original Certificate Balance or initial Notional
Amount, as applicable, of any Class does not equal an integral multiple of $1.00, then a single additional Certificate of such
Class may be issued in a minimum denomination of authorized initial Certificate Balance or initial Notional Amount, as applicable,
that includes the excess of (i) the Original Certificate Balance or initial Notional Amount, as applicable, of such Class
over (ii) the largest integral multiple of $1.00 that does not exceed such amount. The Class R Certificates shall be
issued, maintained and transferred in minimum percentage interests of 10% of such Class R Certificates and in integral multiples
of 1% in excess thereof.

 

(b)            
One authorized signatory shall sign the Certificates for the Certificate Registrar by manual or facsimile signature. If an authorized
signatory whose signature is on a Certificate no longer holds that office at the time the Certificate Registrar countersigns the
Certificate, the Certificate shall be valid nevertheless. A Certificate shall not be valid until an authorized signatory of the
Certificate Registrar (who may be the same officer who executed the Certificate) manually countersigns the Certificate. The signature
shall be conclusive evidence that the Certificate has been executed and countersigned under this Agreement.

 

Section 5.02       
Form and Registration. No transfer of any Non-Registered Certificate shall be made unless that transfer is made pursuant
to an effective registration statement under the Securities Act, and effective registration or qualification under applicable

 

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state securities laws, or is made in a transaction which does not require such registration or qualification. If a transfer (other
than one by the Depositor to an Affiliate thereof or by the Initial Purchasers to BlackRock Realty Advisors, Inc. on behalf of
one or more managed funds) is to be made in reliance upon an exemption from the Securities Act, and under the applicable state
securities laws, then either:

 

(a)            
Each Class of the Non-Registered Certificates sold to institutions that are non-United States Securities Persons in Offshore Transactions
in reliance on Regulation S under the Act shall initially be represented by a temporary book-entry certificate in definitive,
fully registered form without interest coupons, substantially in the applicable form set forth as an exhibit hereto (each a “Temporary
Regulation S Book-Entry Certificate”), which shall be deposited on the Closing Date on behalf of the purchasers
of the Non-Registered Certificates represented thereby with the Certificate Registrar, at its principal trust office, as custodian,
for the Depository, and registered in the name of the Depository or the nominee of the Depository for the account of designated
agents holding on behalf of Euroclear and/or Clearstream. Prior to the expiration of the 40-day period commencing on the later
of the commencement of the offering and the Closing Date (the “Restricted Period”), beneficial interests in
each Temporary Regulation S Book-Entry Certificate may be held only through Euroclear or Clearstream. After the expiration
of the Restricted Period, a beneficial interest in a Temporary Regulation S Book-Entry Certificate may be exchanged for an
interest in the related Regulation S Book-Entry Certificate in the applicable form set forth as an exhibit hereto in accordance
with the procedures set forth in Section 5.03(f). During the Restricted Period, distributions due in respect of a
beneficial interest in a Temporary Regulation S Book-Entry Certificate shall only be made upon delivery to the Certificate
Registrar by Euroclear or Clearstream, as applicable, of a Non-U.S. Beneficial Ownership Certification. After the expiration of
the Restricted Period, distributions due in respect of any beneficial interests in a Temporary Regulation S Book-Entry Certificate
shall not be made to the holders of such beneficial interests unless exchange for a beneficial interest in the Regulation S
Book-Entry Certificate of the same Class is improperly withheld or refused. The aggregate Certificate Balance of a Temporary Regulation S
Book-Entry Certificate or a Regulation S Book-Entry Certificate may from time to time be increased or decreased by adjustments
made on the records of the Certificate Registrar, as custodian for the Depository, as hereinafter provided.

 

On
the Closing Date, the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate
Administrator shall deliver to the Certificate Registrar the Regulation S Book-Entry Certificates, which shall be held by
the Certificate Registrar for purposes of effecting the exchanges contemplated by the preceding paragraph. Wells Fargo Bank, National
Association is hereby initially appointed the Authenticating Agent with the power to act, on the Trustee’s behalf, in the
authentication and delivery of the Certificates in connection with transfers and exchanges as herein provided. If Wells Fargo
Bank, National Association is removed as Certificate Administrator, then Wells Fargo Bank, National Association shall be terminated
as Authenticating Agent. If the Authenticating Agent is terminated, the Trustee shall appoint a successor authenticating agent,
which may be the Trustee or an Affiliate thereof.

 

(b)            
Certificates of each Class of Non-Registered Certificates offered and sold to Qualified Institutional Buyers in reliance on Rule 144A
under the Act (“Rule 144A”) shall be

 

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represented by Rule 144A Book-Entry Certificates, which shall
be deposited with the Certificate Registrar or an agent of the Certificate Registrar, as custodian for the Depository, and registered
in the name of the Depository or a nominee of the Depository. The aggregate Certificate Balance of a Rule 144A Book-Entry
Certificate may from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar, as
custodian for the Depository, as hereinafter provided.

 

(c)             
Certificates of each Class of Non-Registered Certificates that are initially offered and sold to investors that are Institutional
Accredited Investors that are not Qualified Institutional Buyers (the “Non-Book Entry Certificates”) shall
be in the form of Definitive Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall be registered
in the name of such investors or their nominees by the Certificate Registrar who shall deliver the certificates for such Non-Book
Entry Certificates to the respective beneficial owners or owners. For the avoidance of doubt, the Class R Certificates shall
only be in the form of Definitive Certificates.

 

(d)            
Owners of beneficial interests in Book-Entry Certificates of any Class shall not be entitled to receive physical delivery of certificated
Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is no longer willing
or able to discharge properly its responsibilities as depository with respect to the Book-Entry Certificates of such Class or
ceases to be a Clearing Agency, and the Certificate Registrar and the Depository are unable to locate a qualified successor within
ninety (90) days of such notice or (ii) the Trustee has instituted or has been directed to institute any judicial proceeding
to enforce the rights of the Holders of such Class and the Trustee has been advised by counsel that in connection with such proceeding
it is necessary or appropriate for the Certificate Registrar to obtain possession of the Certificates of such Class; provided,
however, that under no circumstances will certificated Non-Registered Certificates be issued to beneficial owners of a
Temporary Regulation S Book-Entry Certificate. Upon notice of the occurrence of any of the events described in clause (i)
or (ii) above with respect to any Certificates of a Class that are in the form of Book-Entry Certificates and upon
surrender by the Depository of any Book-Entry Certificate of such Class and receipt from the Depository of instructions for re-registration,
the Certificate Registrar shall issue Certificates of such Class in the form of Definitive Certificates (bearing, in the case
of a Definitive Certificate issued for a Rule 144A Book-Entry Certificate, the same legends regarding transfer restrictions
borne by such Book-Entry Certificate), and thereafter the Certificate Registrar shall recognize the Holders of such Definitive
Certificates as Certificateholders under this Agreement. Unless and until Definitive Certificates are issued in respect of a Class
of Book-Entry Certificates, beneficial ownership interests in such Class of Certificates will be maintained and transferred on
the book entry records of the Depository and Depository Participants, and all references to actions by Holders of such Class of
Certificates will refer to action taken by the Depository upon instructions received from the related registered Holders of Certificates
through the Depository Participants in accordance with the Depository’s procedures and, except as otherwise set forth herein,
all references herein to payments, notices, reports and statements to Holders of such Class of Certificates will refer to payments,
notices, reports and statements to the Depository or its nominee as the registered Holder thereof, for distribution to the related
registered Holders of Certificates through the Depository Participants in accordance with the Depository’s procedures.

 

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Section 5.03       
Registration of Transfer and Exchange of Certificates. (a)  The Certificate Administrator shall keep or cause
to be kept at the Corporate Trust Office books (the “Certificate Register”) in which, subject to such reasonable
regulations as it may prescribe, the Certificate Administrator shall provide for the registration of Certificates and of transfers
and exchanges of Certificates as herein provided (the Certificate Administrator, in such capacity, being the “Certificate
Registrar”). In such capacities, the Certificate Administrator shall be responsible for, among other things, (i) maintaining
the Certificate Register and a record of the aggregate holdings of Certificates of each Class of Non-Registered Certificates represented
by a Temporary Regulation S Book-Entry Certificate, a Regulation S Book-Entry Certificate and a Rule 144A Book-Entry
Certificate and accepting Certificates for exchange and registration of transfer and (ii) transmitting to the Depositor,
the Master Servicer and the Special Servicer any notices from the Certificateholders.

 

(b)            
Subject to the restrictions on transfer set forth in this Article V, upon surrender for registration of transfer of
any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

(c)             
Rule 144A Book-Entry Certificate to Temporary Regulation S Book-Entry Certificate. If a holder of a beneficial
interest in the Rule 144A Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository
wishes at any time during the Restricted Period to exchange its interest in such Rule 144A Book-Entry Certificate for an
interest in the Temporary Regulation S Book-Entry Certificate of the same Class, or to transfer its interest in such Rule 144A
Book-Entry Certificate to a Person who is required to take delivery thereof in the form of an interest in the Temporary Regulation S
Book-Entry Certificate of the same Class, such holder may, subject to the rules and procedures of the Depository, exchange or
cause the exchange of such interest for an equivalent beneficial interest in such Temporary Regulation S Book-Entry Certificate.
Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.07 hereof, of (1) instructions
given in accordance with the Depository’s procedures from a Depository Participant directing the Certificate Registrar to
credit, or cause to be credited, a beneficial interest in the Temporary Regulation S Book-Entry Certificate in an amount
equal to the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged, (2) a written order given
in accordance with the Depository’s procedures containing information regarding the Euroclear or Clearstream account to
be credited with such increase and the name of such account and (3) a certificate in the form of Exhibit I hereto
given by the holder of such beneficial interest stating that the transfer of such interest has been made in compliance with the
transfer restrictions applicable to the Book-Entry Certificates and pursuant to and in accordance with Regulation S, then
the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A
Book-Entry Certificate and to increase, or cause to be increased, the Certificate Balance of the Temporary Regulation S Book-Entry
Certificate by the aggregate Certificate Balance of the beneficial interest in the Rule 144A Book-Entry Certificate to be
exchanged, to credit or cause to be credited to the account of the Person specified in such instructions (who shall be the agent
member of Euroclear or Clearstream, or both) a beneficial interest in the Temporary Regulation S Book-Entry Certificate equal
to the reduction in the Certificate Balance of the Rule 144A Book-Entry Certificate, and to debit, or cause to be debited,
from the account of the

 

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Person making such exchange or transfer the beneficial interest in the Rule 144A Book-Entry Certificate
that is being exchanged or transferred.

 

(d)            
Rule 144A Book-Entry Certificate to Regulation S Book-Entry Certificate. If a holder of a beneficial interest
in the Rule 144A Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at
any time following the Restricted Period to exchange its interest in such Rule 144A Book-Entry Certificate for an interest
in the Regulation S Book-Entry Certificate of the same Class, or to transfer its interest in such Rule 144A
Book-Entry Certificate to a Person who is required to take delivery thereof in the form of an interest in a Regulation S
Book-Entry Certificate, such holder may, subject to the rules and procedures of the Depository, exchange, or cause the exchange
of, such interest for an equivalent beneficial interest in such Regulation S Book-Entry Certificate. Upon receipt by the
Certificate Registrar, as registrar, at its office designated in Section 5.07 hereof, of (1) instructions given
in accordance with the Depository’s procedures from a Depository Participant directing the Certificate Registrar to credit
or cause to be credited a beneficial interest in the Regulation S Book-Entry Certificate in an amount equal to the beneficial
interest in the Rule 144A Book-Entry Certificate to be exchanged, (2) a written order given in accordance with the Depository’s
procedures containing information regarding the participant account of the Depository to be credited with such increase and (3)
a certificate in the form of Exhibit J hereto given by the holder of such beneficial interest stating (A) that
the transfer of such interest has been made in compliance with the transfer restrictions applicable to the Book-Entry Certificates
and pursuant to and in accordance with Regulation S, or (B) that the transferee is otherwise entitled to hold its interest
in the applicable Certificates in the form of an interest in the Regulation S Book-Entry Certificate, without any registration
of such Certificates under the Act (in which case such certificate shall enclose an Opinion of Counsel to such effect and such
other documents as the Certificate Registrar may reasonably require), then the Certificate Registrar shall instruct the Depository
to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Book-Entry Certificate and to increase, or cause
to be increased, the Certificate Balance of the Regulation S Book-Entry Certificate by the aggregate Certificate Balance
of the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged, to credit or cause to be credited to
the account of the Person specified in such instructions a beneficial interest in the Regulation S Book-Entry Certificate
equal to the reduction in the Certificate Balance of the Rule 144A Book-Entry Certificate, and to debit, or cause to be debited,
from the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Book-Entry Certificate
that is being exchanged or transferred.

 

(e)             
Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to Rule 144A Book-Entry
Certificate. If a holder of a beneficial interest in a Temporary Regulation S Book-Entry Certificate or Regulation S
Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange
its interest in such Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate for an interest
in the Rule 144A Book-Entry Certificate of the same Class, or to transfer its interest in such Temporary Regulation S
Book-Entry Certificate or Regulation S Book-Entry Certificate to a Person who is required to take delivery thereof in the
form of an interest in the Rule 144A Book-Entry Certificate, such holder may, subject to the rules and procedures of Euroclear
or Clearstream, as the case may be, and the Depository, exchange or cause the exchange of such interest for an equivalent beneficial
interest in the

 

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Rule 144A Book-Entry Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar,
at its office designated in Section 5.07 hereof, of (1) instructions from Euroclear or Clearstream, if applicable,
and the Depository, directing the Certificate Registrar, as registrar, to credit or cause to be credited a beneficial interest
in the Rule 144A Book-Entry Certificate equal to the beneficial interest in the Temporary Regulation S Book-Entry Certificate
or Regulation S Book-Entry Certificate to be exchanged, such instructions to contain information regarding the participant
account with the Depository to be credited with such increase, (2) with respect to a transfer of an interest in the Regulation S
Book-Entry Certificate, information regarding the participant
account of the Depository to be debited with such decrease and (3) with respect to a transfer of an interest in the Temporary
Regulation S Book-Entry Certificate for an interest in the Rule 144A Book-Entry Certificate (i) during the Restricted
Period, a certificate in the form of Exhibit K hereto given by the holder of such beneficial interest and stating
that the Person transferring such interest in the Temporary Regulation S Book-Entry Certificate reasonably believes that
the Person acquiring such interest in the Rule 144A Book-Entry Certificate is a Qualified Institutional Buyer or (ii) after
the Restricted Period, an Investment Representation Letter in the form of Exhibit C attached hereto from the transferee
to the effect that such transferee is a Qualified Institutional Buyer (an “Investment Representation Letter”)
and is obtaining such beneficial interest in a transaction meeting the requirements of Rule 144A, then the Certificate Registrar
shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the Temporary Regulation S Book-Entry
Certificate or Regulation S Book-Entry Certificate and to increase, or cause to be increased, the Certificate Balance of
the Rule 144A Book-Entry Certificate by the aggregate Certificate Balance of the beneficial interest in the Temporary Regulation S
Book-Entry Certificate or Regulation S Book-Entry Certificate to be exchanged, and the Certificate Registrar shall instruct
the Depository, concurrently with such reduction, to credit, or cause to be credited, to the account of the Person specified in
such instructions, a beneficial interest in the Rule 144A Book-Entry Certificate equal to the reduction in the Certificate
Balance of the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate and to debit, or
cause to be debited, from the account of the Person making such transfer the beneficial interest in the Temporary Regulation S
Book-Entry Certificate or Regulation S Book-Entry Certificate that is being transferred.

 

(f)             
Temporary Regulation S Book-Entry Certificate to Regulation S Book-Entry Certificate. Interests in a Temporary
Regulation S Book-Entry Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as
the case may be, a certificate (a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear
or Clearstream, as applicable, has received a certificate substantially in the form of Exhibit L hereto from the holder
of a beneficial interest in such Temporary Regulation S Book-Entry Certificate, shall be exchanged after the Restricted Period,
for interests in the Regulation S Book-Entry Certificate of the same Class. The Certificate Registrar shall effect such exchange
by delivering to the Depository for credit to the respective accounts of such holders, a duly executed and authenticated Regulation S
Book-Entry Certificate, representing the aggregate Certificate Balance of interests in the Temporary Regulation S Book-Entry
Certificate initially exchanged for interests in the Regulation S Book-Entry Certificate. The delivery to the Certificate
Registrar by Euroclear or Clearstream of the certificate or certificates referred to above may be relied upon by the Depositor
and the Certificate Registrar as conclusive evidence that the certificate or certificates referred to therein has or have been
delivered to Euroclear or Clearstream pursuant to the terms of this Agreement and the Temporary Regulation S Book-Entry Certificate.
Upon any

 

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exchange of interests in the Temporary Regulation S Book-Entry Certificate for interests in the Regulation S
Book-Entry Certificate, the Certificate Registrar shall endorse the Temporary Regulation S Book-Entry Certificate to reflect
the reduction in the Certificate Balance represented thereby by the amount so exchanged and shall endorse the Regulation S
Book-Entry Certificate to reflect the corresponding increase in the amount represented thereby. Until so exchanged in full and
except as provided therein, the Temporary Regulation S Book-Entry Certificate, and the Certificates evidenced thereby, shall
in all respects be entitled to the same benefits
under this Agreement as the Regulation S Book-Entry Certificate and Rule 144A Book-Entry Certificate authenticated and
delivered hereunder.

 

(g)            
Non-Book Entry Certificate to Book-Entry Certificate. If a holder of a Non-Book Entry Certificate (other than a Class R
Certificate) wishes at any time to exchange its interest in such Non-Book Entry Certificate for an interest in a Book-Entry Certificate
of the same Class, or to transfer all or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery
thereof in the form of an interest in a Book-Entry Certificate, such holder may, subject to the rules and procedures of Euroclear
or Clearstream, if applicable, and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an
equivalent beneficial interest in the appropriate Book-Entry Certificate of the same Class. Upon receipt by the Certificate Registrar,
as registrar, at its office designated in Section 5.07 hereof, of (1) such Non-Book Entry Certificate, duly endorsed
as provided herein, (2) instructions from such holder directing the Certificate Registrar, as registrar, to credit, or cause
to be credited, a beneficial interest in the applicable Book-Entry Certificate equal to the portion of the Certificate Balance
of the Non-Book Entry Certificate to be exchanged, such instructions to contain information regarding the participant account
with the Depository to be credited with such increase and (3) a certificate in the form of Exhibit M hereto (in the
event that the applicable Book-Entry Certificate is the Temporary Regulation S Book-Entry Certificate), in the form of Exhibit N
hereto (in the event that the applicable Book-Entry Certificate is the Regulation S Book-Entry Certificate) or in the
form of Exhibit O hereto (in the event that the applicable Book-Entry Certificate is the Rule 144A Book-Entry
Certificate), then the Certificate Registrar, as registrar, shall cancel, or cause to be canceled, all or part of such Non-Book
Entry Certificate, shall, if applicable, execute, authenticate and deliver to the transferor a new Non-Book Entry Certificate
equal to the aggregate Certificate Balance of the portion retained by such transferor and shall instruct the Depository to increase,
or cause to be increased, such Book-Entry Certificate by the aggregate Certificate Balance of the portion of the Non-Book Entry
Certificate to be exchanged and to credit, or cause to be credited, to the account of the Person specified in such instructions
a beneficial interest in the applicable Book-Entry Certificate equal to the Certificate Balance of the portion of the Non-Book
Entry Certificate so canceled. Upon the written direction of the Depositor (which may be by email to cts.cmbs.bond.admin@wellsfargo.com)
or its Affiliate, the Certificate Registrar shall execute any instrument as may be reasonably required by the Depository to effect
such exchange.

 

(h)            
Non-Book Entry Certificates on Initial Issuance Only. Subject to the issuance of Definitive Certificates, if and when permitted
by Section 5.02(d), no Non-Book Entry Certificate shall be issued to a transferee of an interest in any Rule 144A
Book-Entry Certificate, Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate or to a
transferee of a Non-Book Entry Certificate (or any portion thereof).

 

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(i)             
Other Exchanges. In the event that a Book-Entry Certificate is exchanged for a Definitive Certificate, such Certificates
may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of subsections (c)
through (f) above (including the certification requirements intended to ensure that such transfers comply with Rule 144A
or Regulation S under the Act, at the case may be) and such other procedures as may from time to time be adopted by the Certificate
Registrar.

 

(j)             
Restricted Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates,
transfers of interests in the Temporary Regulation S Book-Entry Certificate to U.S. persons (as defined in Regulation S)
shall be limited to transfers made pursuant to the provisions of subsection (e) above.

 

(k)            
If Non-Registered Certificates are issued upon the transfer, exchange or replacement of Certificates bearing a restrictive legend
relating to compliance with the Act, or if a request is made to remove such legend on Certificates, the Non-Registered Certificates
so issued shall bear the restrictive legend, or such legend shall not be removed, as the case may be, unless there is delivered
to the Certificate Registrar such satisfactory evidence, which may include an Opinion of Counsel that neither such legend nor
the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A
or Regulation S under the Act. Upon provision of such satisfactory evidence, the Certificate Registrar shall authenticate
and deliver Certificates that do not bear such legend.

 

(l)             
All Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the Certificate
Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(m)           
With respect to the ERISA Restricted Certificates, no sale, transfer, pledge or other disposition (other than any initial transfer
to the Initial Purchasers) of any such Certificate shall be made unless the Trustee and Certificate Administrator shall have received
either (i) a representation letter from the proposed purchaser or transferee of such Certificate substantially in the form
of Exhibit F-1 attached hereto, to the effect that such proposed purchaser or transferee is not (A) an employee
benefit plan subject to the fiduciary responsibility provisions of ERISA or a plan subject to Section 4975 of the Code, or
a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA) for
which no election has been made under Section 410(d) of the Code or any other plan subject to any federal, state or local
law (“Similar Law”) which is, to a material extent, similar to the foregoing provisions of ERISA or the Code
(each, a “Plan”) or (B) a person acting on behalf of or using the assets of any such Plan (including an
entity whose underlying assets include Plan assets by reason of investment in the entity by such Plan and the application of Department
of Labor Regulation § 2510.3-101, as modified by Section 3(42) of ERISA), other than an insurance company using
the assets of its general account under circumstances whereby the purchase and holding of such Certificates by such insurance
company would be exempt from the prohibited transaction provisions of ERISA and the Code under Sections I and III of Prohibited
Transaction Class Exemption 95-60 (or, in the case of a Plan subject to Similar Law, would not result in a non-exempt
violation of Similar Law) or (ii) if such Certificate which may be held only by a person not described in clauses (A)
or (B) above, is presented for registration in the name of a purchaser or transferee that is any of the foregoing,
an Opinion of Counsel in form and

 

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substance satisfactory to the Trustee and Certificate Administrator and the Depositor to the
effect that the acquisition or holding of such Certificate by such purchaser or transferee will not constitute or result in a
non-exempt “prohibited transaction” within the meaning of ERISA, Section 4975 of the Code or a non-exempt violation
of any Similar Law, and will not subject the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer,
the Initial Purchasers, the Underwriters, the Senior Trust Advisor or the Depositor to any obligation or liability (including
obligations or liabilities under ERISA, Section 4975 of the Code or any such Similar
Law) in addition to those set forth in the Agreement. The Trustee and Certificate Administrator shall not register the sale, transfer,
pledge or other disposition of any ERISA Restricted Certificate unless the Trustee and Certificate Administrator have received
either the representation letter described in clause (i) above or the Opinion of Counsel described in clause (ii)
above. The costs of any of the foregoing representation letters or Opinions of Counsel shall not be borne by any of the Depositor,
the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Initial Purchasers, the Underwriters,
the Senior Trust Advisor or the Trust Fund. Each Certificate Owner of an ERISA Restricted Certificate shall be deemed to represent
that it is not a Person specified in clauses (i)(A) or (i)(B) above. Any transfer, sale, pledge or other disposition
of any ERISA Restricted Certificates that would constitute or result in a prohibited transaction under ERISA, Section 4975
of the Code or any Similar Law, or would otherwise violate the provisions of this Section 5.03(m) shall be deemed
absolutely null and void ab initio, to the extent permitted under applicable law.

 

(n)            
No Class R Certificate may be purchased by or transferred to any prospective purchaser or transferee that is or will be a
Plan, or any person acting on behalf of a Plan or using the assets of a Plan (including an entity whose underlying assets include
Plan assets by reason of investment in the entity by such Plan and the application of Department of Labor Regulation §2510.3-101,
as modified by Section 3(42) of ERISA) to purchase such Class R Certificate. Each prospective transferee of a Class R
Certificate shall deliver to the transferor and the Certificate Administrator a representation letter, substantially in the form
of Exhibit F-2, stating that the prospective transferee is not a Plan or a person acting on behalf of or using the
assets of a Plan. Any attempted or purported transfer in violation of these transfer restrictions shall be null and void ab
initio and shall vest no rights in any purported transferee and shall not relieve the transferor of any obligations with respect
to the applicable Certificates.

 

Each
Person who has or acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such Residual Ownership
Interest to have agreed to be bound by the following provisions and the rights of each Person acquiring any Residual Ownership
Interest are expressly subject to the following provisions:

 

                            
(i)              Each Person acquiring or holding any Residual
Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such Residual Ownership Interest as agent (including
a broker, nominee or other middleman) on behalf of any Person that is not a Permitted Transferee. Any such Person shall promptly
notify the Certificate Registrar of any change or impending change in its status (or the status of the beneficial owner of such
Residual Ownership Interest) as a Permitted Transferee. Any acquisition described in the first sentence of this Section 5.03(n)
by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person who is not a Permitted
Transferee shall be void ab initio and of no effect, and the immediately preceding owner

 

 

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who was a Permitted Transferee
shall be restored to registered and beneficial ownership of the Residual Ownership Interest as soon and as fully as possible.

 

                            
(ii)             No Residual Ownership Interest may be Transferred,
and no such Transfer shall be registered in the Certificate Register, without the express written consent of the Certificate Registrar,
and the Certificate Registrar shall not recognize the Transfer, and such proposed Transfer shall not be effective, without such
consent with respect thereto. In
connection with any proposed Transfer of any Residual Ownership Interest, the Certificate Registrar shall, as a condition to such
consent, (x) require the proposed transferee to deliver, and the proposed transferee shall deliver to the Certificate Registrar
and to the proposed transferor, an affidavit in substantially the form attached as Exhibit D-1 (a “Transferee
Affidavit”) of the proposed transferee (A) that such proposed transferee is a Permitted Transferee and (B) stating
that (1) the proposed transferee historically has paid its debts as they have come due and intends to do so in the future,
(2) the proposed transferee understands that, as the holder of a Residual Ownership Interest, it may incur liabilities in
excess of cash flows generated by the residual interest, (3) the proposed transferee intends to pay taxes associated with
holding the Residual Ownership Interest as they become due, (4) the proposed transferee will not cause income with respect
to the Residual Ownership Interest to be attributable to a foreign permanent establishment or fixed base, within the meaning of
an applicable income tax treaty, of such proposed transferee or any other U.S. Tax Person, (5) the proposed transferee will
not transfer the Residual Ownership Interest to any Person that does not provide a Transferee Affidavit or as to which the proposed
transferee has actual knowledge that such Person is not a Permitted Transferee or is acting as an agent (including a broker, nominee
or other middleman) for a Person that is not a Permitted Transferee, and (6) the proposed transferee expressly agrees to
be bound by and to abide by the provisions of this Section 5.03(n) and (y) other than in connection with the
initial issuance of a Class R Certificate, require a statement from the proposed transferor substantially in the form attached
as Exhibit D-2 (the “Transferor Letter”), that the proposed transferor has no actual knowledge
that the proposed transferee is not a Permitted Transferee and has no actual knowledge or reason to know that the proposed transferee’s
statements therein are false.

 

                             
(iii)             Notwithstanding the delivery of a Transferee Affidavit
by a proposed transferee under clause (ii) above, if a Responsible Officer of the Certificate Registrar has actual
knowledge that the proposed transferee is not a Permitted Transferee, no Transfer to such proposed transferee shall be effected
and such proposed Transfer shall not be registered on the Certificate Register; provided, however, the Certificate
Registrar shall not be required to conduct any independent investigation to determine whether a proposed transferee is a Permitted
Transferee. Upon notice to the Certificate Registrar that there has occurred a Transfer to any Person that is a Disqualified Organization
or an agent thereof (including a broker, nominee or middleman) in contravention of the foregoing restrictions, and in any event
not later than sixty (60) days after a request for information from the transferor of such Residual Ownership Interest or such
agent, the Certificate Registrar agrees to furnish to the Internal Revenue Service and the transferor of such Residual Ownership
Interest or such agent such information necessary to the application of Section 860E(e) of the Code as may be required by
the Code, including,

 

 

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but not limited to, the present value of the total anticipated excess inclusions with respect to such Class R
Certificate (or portion thereof) for periods after such Transfer. At the election of the Certificate Registrar, the Certificate
Registrar may charge a reasonable fee for computing and furnishing such information to the transferor or to such agent referred
to above; provided, however, that such Persons shall in no event be excused from furnishing such information.

 

 

(o)            
The Class R Certificates may only be transferred to and owned by Qualified Institutional Buyers.

 

(p)            
Notwithstanding any other provision of this Agreement, the Certificate Administrator shall comply with all federal withholding
requirements respecting payments to Certificateholders and other payees of interest or original issue discount that the Certificate
Administrator reasonably believes are applicable under the Code. The consent of Certificateholders or payees shall not be required
for such withholding. If the Certificate Administrator does withhold any amount from interest or original issue discount payments
or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements, the Certificate Administrator
shall indicate the amount withheld to such Person. Such amounts shall be deemed to have been distributed to such Persons for all
purposes of this Agreement.

 

Section 5.04       
Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate
and (b) there is delivered to the Certificate Registrar such security or indemnity as may be required by it to save it harmless,
then, in the absence of actual notice to the Certificate Registrar that such Certificate has been acquired by a bona fide purchaser,
the Certificate Registrar shall execute, authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed,
lost or stolen Certificate, a new Certificate of like tenor and interest in the Trust Fund. In connection with the issuance of
any new Certificate under this Section 5.04, the Certificate Registrar may require the payment of a sum sufficient
to cover any expenses (including the fees and expenses of the Certificate Registrar) connected therewith. Any replacement Certificate
issued pursuant to this Section 5.04 shall constitute complete and indefeasible evidence of ownership in the Trust
Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

 

Section 5.05       
Persons Deemed Owners. The Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Certificate
Registrar, and any agent of any of them, may treat the Person in whose name any Certificate is registered as the owner of such
Certificate for the purpose of receiving distributions as provided in this Agreement and for all other purposes whatsoever, and
neither the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, nor
any agent of any of them shall be affected by any notice to the contrary; provided, however, that to the extent
that a party to this Agreement responsible for distributing any report, statement or other information required to be distributed
to Certificateholders has been provided an Investor Certification, such party to this Agreement shall distribute such report,
statement or other information to such beneficial owner (or prospective transferee).

 

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Section 5.06       
Access to List of Certificateholders’ Names and Addresses; Special Notices. The Certificate Registrar shall maintain
in as current form as is reasonably practicable the most recent list available to it of the names and addresses of the Certificateholders.
If any Certificateholder that has provided an Investor Certification (a) requests in writing from the Certificate Registrar
a list of the names and addresses of Certificateholders, (b) states that such Certificateholder desires to communicate with
other Certificateholders with respect to its rights under this Agreement or under the Certificates and(c) provides a copy
of the communication which such Certificateholder proposes to transmit, then the Certificate Registrar shall, within ten (10)
Business Days after the receipt of such request, afford such Certificateholder (at such Certificateholder’s sole cost and
expense) access during normal business hours to a current list of the Certificateholders related to the Class of Certificates
held by such Certificateholder. Every Certificateholder, by receiving and holding a Certificate, agrees that the Certificate Registrar
shall not be held accountable by reason of the disclosure of any such information as to the list of the Certificateholders hereunder,
regardless of the source from which such information was derived. The Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Senior Trust Advisor and the Depositor shall be entitled to a list of the names and addresses of
Certificateholders from time to time upon request therefor.

 

Upon
the written request of any Certificateholder that (a) has provided an Investor Certification, (b) states that such Certificateholder
desires the Certificate Administrator to transmit a notice to all Certificateholders stating that such Certificateholder wishes
to be contacted by other Certificateholders, setting forth the relevant contact information and briefly stating the reason for
the requested contact (a “Special Notice”) and (c) provides a copy of the Special Notice which such Certificateholder
proposes to transmit, the Certificate Administrator shall deliver such Special Notice to all Certificateholders at their respective
addresses appearing on the Certificate Register. The costs and expenses of the Certificate Administrator associated with delivering
any such Special Notice shall be borne by the party requesting such Special Notice. Every Certificateholder, by receiving and
holding a Certificate, agrees that neither the Certificate Administrator nor the Certificate Registrar shall be held accountable
by reason of the disclosure of any such Special Notice to Certificateholders, regardless of the information set forth in such
Special Notice.

 

Section 5.07       
Maintenance of Office or Agency. The Certificate Registrar shall maintain or cause to be maintained an office or offices
or agency or agencies where Certificates may be surrendered for registration of transfer or exchange and where notices and demands
to or upon the Certificate Registrar in respect of the Certificates and this Agreement may be served. The Certificate Registrar
initially designates its office at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113 as its office for such
purposes. The Certificate Registrar shall give prompt written notice to the Certificateholders and the Mortgagors of any change
in the location of the Certificate Register or any such office or agency.

 

Section 5.08       
Appointment of Certificate Administrator. (a)  Wells Fargo Bank, National Association is hereby initially appointed
Certificate Administrator in accordance with the terms of this Agreement. If the Certificate Administrator resigns or is terminated,
the Trustee shall appoint a successor certificate administrator which may be the Trustee or an Affiliate

 

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thereof to fulfill the
obligations of the Certificate Administrator hereunder which must satisfy the eligibility requirements set forth in Section 8.06.

 

(b)            
The Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon any resolution, Officer’s
Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent,
order, Appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed or presented
by the proper party or parties.

 

 

(c)             
The Certificate Administrator, at the expense of the Trust Fund (but only if such amount constitutes “unanticipated expenses
of the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii)), may consult with counsel and
the advice of such counsel or 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 therewith.

 

(d)            
The Certificate Administrator shall not be personally liable for any action reasonably taken, suffered or omitted by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement.

 

(e)             
The Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys shall
not relieve the Certificate Administrator of its duties or obligations hereunder.

 

(f)             
The Certificate Administrator shall not be responsible for any act or omission of the Trustee, the Master Servicer, the Special
Servicer or the Depositor.

 

Section 5.09       
Exchangeable Certificates and the Class EC Certificates. (a)  Holders of Exchangeable Certificates may surrender
their Certificates to the Certificate Administrator and the Certificate Administrator shall convert those Exchangeable Certificates
for a like amount of Class EC Certificates in accordance with the terms of this Section 5.09 and the other applicable
provisions of Article V hereof. Similarly, Holders of the Class EC Certificates may surrender their Certificates to the Certificate
Administrator and the Certificate Administrator shall exchange and convert those Certificates for a like amount of the related
Classes of Exchangeable Certificates in accordance with the terms of this Section 5.09 and the other applicable provisions
of Article V hereof.

 

Exchangeable
Certificates in the Exchange Proportion may be exchanged and converted for Class EC Certificates and Class EC Certificates
may be exchanged and converted for all three Classes of Exchangeable Certificates in the Exchange Proportion, in each case, in
whole or in part. This process may occur repeatedly. In the event that the Certificate Balance of any Class of Exchangeable Certificates
is reduced to zero as a result of such Class being paid all interest and principal in full and reimbursement of Collateral Support
Deficits, exchanges and conversions shall no longer be permissible. With respect to any exchange and conversion, all three Classes
of Exchangeable Certificates shall be required in order to exchange and convert such Exchangeable Certificates to Class EC
Certificates and Class EC Certificates can be

 

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exchanged
and converted to all three Classes of Exchangeable Certificates, such exchange and conversion being calculated using the initial
Certificate Balances of the individual Certificates being exchanged and converted (rather than the outstanding Certificate Balance),
in each case, in the applicable Exchange Proportion. The aggregate Certificate Balance of the Certificates (with each Class rounded
down to the nearest whole dollar) received after an exchange and conversion, immediately after the exchange and conversion, must
equal the aggregate Certificate Balance of the Certificates (with each Class rounded down to the nearest whole dollar) surrendered
for exchange and conversion immediately prior to such exchange and conversion. Each Class of Exchangeable Certificates exchanged
and converted or received in any exchange and conversion must be at least its minimum Denomination set forth in Section 5.01.

 

Class EC
Certificates will only receive distributions of interest and principal and other amounts that are allocated to the Exchangeable
Certificates exchanged for and converted to such Class EC Certificates. Any Collateral Support Deficits or other shortfalls,
including as a result of Appraisal Reduction Events, allocated to Exchangeable Certificates that were exchanged for and converted
to Class EC Certificates will be borne by such Class EC Certificates and any recoveries of such amounts shall be paid
to such Class EC Certificates.

 

Exchangeable
Certificates that have been exchanged for and converted to Class EC Certificates shall be deemed to be held by the Trustee
in uncertificated form and, for tax purposes, as assets of the Grantor Trust, and shall be deemed to be outstanding for all purposes
in accordance with the terms of this Agreement.

 

(b)            
Exchangeable Certificates shall be exchangeable on the books of the Depository for Class EC Certificates, and Class EC
Certificates shall be exchangeable on the books of the Depository for Exchangeable Certificates, after the Closing Date (other
than any exchanges on the Closing Date pursuant to instructions from the Depositor). In order to effect an exchange of the Exchangeable
Certificates or Class EC Certificates, the Certificateholder shall notify the Certificate Administrator by e-mail at cts.cmbs.bond.admin@wellsfargo.com
no later than three (3) Business Days before the proposed date for the exchange and conversion (the “Exchange Date”).
The Exchange Date can be any Business Day other than the first or last Business Day of the month, subject to the satisfaction
of the Certificate Administrator.

 

(c)             
With respect to the notice required in clause (b) above, the Certificateholder shall provide notice on the Certificateholder’s
letterhead, which notice must carry a medallion stamp guarantee and set forth the following information: (i) the CUSIP Number(s)
of the Exchangeable Certificates or Class EC Certificate to be exchanged and converted and the Exchangeable Certificate or
the Class EC Certificates to be received, (ii) the outstanding principal balance of the initial Certificate Balance
of the Exchangeable Certificates or the Class EC Certificates to be exchanged and converted, (iii) the Certificateholder’s
Depository participant number, if applicable, and (iv) the proposed Exchange Date. The Certificateholder will utilize the
“deposit and withdrawal system” at the Depository to affect the exchange and conversion of the Certificates. A notice
becomes irrevocable on the second (2nd) Business Day before the proposed exchange date.

 

(d)             
In connection with each exchange, the Certificateholder may be required to pay certain fees charged by DTC and such fees must
be received by the Certificate

 

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Administrator prior to the exchange date or such exchange shall not be effected. The first distribution
on an Exchangeable Certificate or Class EC certificates shall be made in the month following the month of exchange to the
Certificateholder of record as of the applicable Record Date for such certificate. Neither the Certificate Administrator nor the
Depositor shall have any obligation to ensure the availability of the applicable certificates to accomplish any exchange.

 

[End
of Article V]

 

 

Article VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, the Senior
Trust Advisor AND THE DIRECTING CERTIFICATEHOLDER

 

Section 6.01       
Liability of the Depositor, the Master Servicer, the Senior Trust Advisor and the Special Servicer. The Depositor, the
Master Servicer, the Senior Trust Advisor and the Special Servicer shall be liable in accordance herewith only to the extent of
the respective obligations specifically imposed upon and undertaken by the Depositor, the Master Servicer, the Senior Trust Advisor
and the Special Servicer herein.

 

Section 6.02       
Merger, Consolidation or Conversion of the Depositor, the Master Servicer, the Senior Trust Advisor or the Special Servicer.
(a)  Subject to subsection (b) below, the Depositor, the Master Servicer and the Special Servicer each will
keep in full effect its existence, rights and franchises as an entity under the laws of the jurisdiction of its incorporation
or organization, and each will obtain and preserve its qualification to do business as a foreign entity in each jurisdiction in
which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates
or any of the Mortgage Loans or Companion Loans and to perform its respective duties under this Agreement.

 

(b)            
The Depositor, the Master Servicer, the Special Servicer and the Senior Trust Advisor each may be merged or consolidated with
or into any Person, or transfer all or substantially all of its assets (which may be limited to all or substantially all of its
assets related to commercial mortgage loan servicing or commercial mortgage surveillance, as the case may be) to any Person, in
which case any Person resulting from any merger or consolidation to which the Depositor, the Master Servicer, the Special Servicer
or the Senior Trust Advisor shall be a party, or any Person succeeding to the business of the Depositor, the Master Servicer,
the Special Servicer or the Senior Trust Advisor, shall be the successor of the Depositor, the Master Servicer, the Special Servicer
or the Senior Trust Advisor (such Person, in the case of the Master Servicer or the Special Servicer, in each of the foregoing
cases, the “Surviving Entity”), as the case may be, hereunder, without the execution or filing of any paper
(other than an assumption agreement wherein the successor shall agree to perform the obligations of and serve as the Depositor,
the Master Servicer, the Special Servicer or the Senior Trust Advisor, as the case may be, in accordance with the terms of this
Agreement) or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided,
however, that with respect to such merger, consolidation or succession, Rating Agency Confirmation is received from each
Rating Agency with respect to the Classes of Certificates and, with respect to any class of Serviced Companion Loan Securities,
a confirmation is received from each applicable rating agency that such action will not result in the downgrade, withdrawal or
qualification of its

 

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then-current ratings (provided that such rating agency confirmation may be considered satisfied in
the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates as described in
Section 3.30); provided, further, that if the Master Servicer, the Special Servicer or the Senior Trust
Advisor enters into a merger and the Master Servicer, the Special Servicer or the Senior Trust Advisor, as applicable, is the
surviving entity under applicable law, the Master Servicer, the Special Servicer or the Senior Trust Advisor, as applicable, shall
not, as a result of the merger, be required to provide a Rating Agency Confirmation with respect to ratings of the Classes of
Certificates or, with respect to any class of Serviced
Companion Loan Securities, a confirmation of the rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings; provided, further, that for so long as the Trust, and, with respect
to any Companion Loan included as part of the trust in a related Other Securitization, is subject to the reporting requirements
of the Exchange Act, if the Master Servicer, the Special Servicer or the Senior Trust Advisor notifies the Depositor in writing
(a “Merger Notice”) of any such merger, consolidation, conversion or other change in form, and the Depositor
or the depositor in such Other Securitization, as the case may be, notifies the Master Servicer, the Special Servicer or the Senior
Trust Advisor, as applicable, in writing that the Depositor or the depositor in such Other Securitization, as the case may be,
has discovered that such successor entity has not complied with its Exchange Act reporting obligations under any other commercial
mortgage loan securitization (and specifically identifying the instance of noncompliance), then it shall be an additional condition
to such succession that the Depositor or the depositor in such Other Securitization, as the case may be, shall have consented
(which consent shall not be unreasonably withheld or delayed) to such successor entity. Notwithstanding the foregoing, no Master
Servicer, Special Servicer or Senior Advisor may remain the Master Servicer, Special Servicer or Senior Trust Advisor, as applicable,
under this Agreement after (x) being merged or consolidated with or into any Person that is a Prohibited Party, or (y) transferring
all or substantially all of its assets to any Person if such Person is a Prohibited Party, except to the extent (i) the Master
Servicer, the Special Servicer or Senior Trust Advisor, as applicable, is the surviving entity of such merger, consolidation or
transfer and has been and continues to be in compliance with its Regulation AB reporting obligations hereunder or (ii) the Depositor
consents to such merger, consolidation or transfer, which consent shall not be unreasonably withheld. If, within sixty (60) days
following the date of delivery of the Merger Notice to the Depositor or the depositor in such Other Securitization, as the case
may be, the Depositor or depositor in such Other Securitization, as the case may be, shall have failed to notify the Master Servicer
or the Special Servicer, as applicable, in writing of the Depositor’s determination, or depositor’s determination,
in the case of an Other Securitization, to grant or withhold such consent, such failure shall be deemed to constitute a grant
of such consent. If the conditions to the provisions in the second preceding sentence are not met, the Trustee may terminate,
and if the conditions set forth in the third proviso of the second preceding sentence are not met the Trustee shall terminate,
the applicable Surviving Entity’s servicing of the Mortgage Loans pursuant hereto, such termination to be effected in the
manner set forth in Section 7.01.

 

Section 6.03       
Limitation on Liability of the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor and Others.
(a)  None of the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicer,
the Senior Trust Advisor and their respective Affiliates or any of the partners, directors, officers, shareholders, members, managers,
employees or agents of any of the foregoing shall be under

 

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any
liability to the Trust, the Certificateholders or the Companion Holders for any action taken or for refraining from the taking
of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that (i) this
provision shall not protect the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special
Servicer, the Senior Trust Advisor and their respective Affiliates or any such Person against any breach of warranties or representations
made herein or any liability which would otherwise be imposed by reason of willful misconduct, bad faith or negligence in the
performance of duties or by reason of negligent disregard of obligations and duties hereunder. The Depositor, the Master Servicer
(including in its capacity as Companion Paying Agent), the Special Servicer, the Senior Trust Advisor and their respective Affiliates
and any partner, director, officer, shareholder, member, manager, employee or agent of the Depositor, the Master Servicer (including
in its capacity as Companion Paying Agent), the Special Servicer or the Senior Trust Advisor and their respective Affiliates may
rely on any document of any kind which, prima facie, is properly executed and submitted by any Person respecting any matters
arising hereunder. The Depositor, the Master Servicer (including
in its capacity as Companion Paying Agent), the Special Servicer and the Senior Trust Advisor and their respective Affiliates
and any partner, director, officer, shareholder, member, manager, employee or agent of any of the foregoing shall be indemnified
and held harmless by the Trust against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related
costs, judgments, and any other costs, liabilities, fees and expenses incurred in connection with any legal or administrative
action (whether in equity or at law) or claim relating to this Agreement, the Mortgage Loans, the Companion Loans or the Certificates,
other than any loss, liability or expense: (i) specifically required to be borne thereby pursuant to the terms hereof; (ii) incurred
in connection with any breach of a representation or warranty made by it herein; (iii) incurred by reason of bad faith, willful
misconduct or negligence in the performance of its obligations or duties hereunder, or by reason of negligent disregard of such
obligations or duties; or (iv) in the case of the Depositor and any of its partners, directors, officers, shareholders, members,
managers, employees and agents, incurred in connection with any violation by any of them of any state or federal securities law.
In addition, absent actual fraud (as determined by a final non-appealable court order), neither the Trustee nor the Certificate
Administrator shall be liable for special, punitive, indirect or consequential loss or damage of any kind whatsoever (including
but not limited to lost profits), even if the Trustee or the Certificate Administrator has been advised of the likelihood of such
loss or damage and regardless of the form of action. Each of the Master Servicer (including in its capacity as Companion Paying
Agent), the Special Servicer and the Senior Trust Advisor conclusively may rely on, and shall be protected in acting or refraining
from acting upon, any resolution, officer’s certificate, certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, financial statement, agreement, appraisal, bond or other document (in electronic
or paper format) as contemplated by and in accordance with this Agreement and reasonably believed or in good faith believed by
the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicer or the Senior Trust Advisor to
be genuine and to have been signed or presented by the proper party or parties and each of them may consult with counsel, in which
case any written advice of counsel or Opinion of Counsel shall be full and complete authorization and protection with respect
to any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel.

 

(b)            
None of the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicer and the
Senior Trust Advisor shall be under any

 

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obligation
to appear in, prosecute or defend any legal or administrative action (whether in equity or at law), proceeding, hearing or examination
that is not incidental to its respective duties under this Agreement or which in its opinion may involve it in any expense or
liability not recoverable from the Trust Fund; provided, however, that each of the Depositor, the Master Servicer,
the Special Servicer or the Senior Trust Advisor may in its discretion undertake any such action, proceeding, hearing or examination
that it may deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto and the interests
of the Certificateholders (and, in the case of any Serviced Whole Loan, the rights of the Certificateholders and the holders of
a Serviced Companion Loan (as a collective whole) taking into account the subordinate or pari passu nature of such Serviced
Companion Loan); provided, however, that if a Serviced Whole Loan and/or the holder of any related Companion Loan
are involved, such expenses, costs and liabilities will be payable out of funds related to the applicable Serviced Whole Loan
in accordance with the related Intercreditor Agreement and will also be payable out of the other funds in the Certificate Account
if amounts on deposit with respect to such Serviced Whole Loan are insufficient therefor. If any such expenses, costs or liabilities
relate to a Mortgage Loan or Companion Loan, then any subsequent recovery on that Mortgage Loan or Companion Loan, as applicable,
will be used to reimburse the Trust for any amounts advanced for the payment of such expenses, costs or liabilities. In such event,
the legal expenses and costs of such action, proceeding, hearing or examination and any liability resulting therefrom shall be
expenses, costs and liabilities of the Trust Fund, and the Depositor, the Master Servicer (including in its capacity as Companion
Paying Agent), the Special Servicer and the Senior Trust Advisor shall be entitled to be reimbursed therefor out of amounts attributable
to the Mortgage Loans or the Companion Loans on deposit in the Certificate Account (including, without duplication, any subaccount
thereof), as provided by Section 3.05(a)(xii).

 

(c)            
Each of the Master Servicer and the Special Servicer, as applicable, agrees to indemnify the Depositor, the Trustee, the related
Serviced Companion Noteholder, the Certificate Administrator, the Senior Trust Advisor, the Master Servicer (including in its
capacity as Companion Paying Agent) (in the case of the Special Servicer), the Special Servicer (in the case of the Master Servicer)
and the Trust and any partner, director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless,
from and against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments,
and any other costs, liabilities, fees and expenses that any of them may sustain arising from or as a result of any willful misconduct,
bad faith or negligence of the Master Servicer or the Special Servicer, as the case may be, in the performance of its obligations
and duties under this Agreement or by reason of negligent disregard by the Master Servicer or the Special Servicer, as the case
may be, of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein by the
Master Servicer or the Special Servicer, as applicable. The Trustee, the Certificate Administrator, the Depositor, or the Senior
Trust Advisor, as the case may be, shall immediately notify the Master Servicer or the Special Servicer, as applicable, if a claim
is made by a third party with respect to this Agreement or the Mortgage Loans entitling the Trust to indemnification hereunder,
whereupon the Master Servicer or the Special Servicer, as the case may be, shall assume the defense of such claim (with counsel
reasonably satisfactory to the Trustee, the Certificate Administrator or the Depositor) and pay all expenses in connection therewith,
including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against it or them
in respect of such claim. Any failure to so notify the Master Servicer or the Special Servicer, as the case may be, shall not

 

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affect any rights any of the foregoing Persons may have to indemnification under this Agreement or otherwise, unless the Master
Servicer’s or the Special Servicer’s, as the case may be, defense of such claim is materially prejudiced thereby.

 

(d)            
Each of the Trustee and the Certificate Administrator (including in its role as Custodian), respectively agrees to indemnify the
Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicer, the Certificate Administrator
(in the case of the Trustee), the Trustee (in the case of the Certificate Administrator), the Senior Trust
Advisor and the Trust and any partner, director, officer, shareholder, member, manager employee or agent thereof, and hold them
harmless, from and against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments, and any other costs, liabilities, fees and expenses that any of them may sustain arising from or as a result of any
willful misconduct, bad faith or negligence of the Trustee or the Certificate Administrator, respectively, in the performance
of its obligations and duties under this Agreement or by reason of negligent disregard by the Trustee or the Certificate Administrator,
respectively, of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein;
provided that such indemnity shall not cover indirect or consequential damages. The Depositor, the Master Servicer, the
Special Servicer or the Senior Trust Advisor, as the case may be, shall immediately notify the Trustee and the Certificate Administrator,
respectively, if a claim is made by a third party with respect to this Agreement or the Mortgage Loans entitling the Trust to
indemnification hereunder, whereupon the Trustee or the Certificate Administrator shall assume the defense of such claim (with
counsel reasonably satisfactory to the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the
Special Servicer or the Senior Trust Advisor) and pay all expenses in connection therewith, including counsel fees, and promptly
pay, discharge and satisfy any judgment or decree which may be entered against it or them in respect of such claim. Any failure
to so notify the Trustee or the Certificate Administrator shall not affect any rights any of the foregoing Persons may have to
indemnification under this Agreement or otherwise, unless the Trustee’s or the Certificate Administrator’s defense
of such claim is materially prejudiced thereby.

 

(e)             
The Depositor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicer,
the Trustee, the Certificate Administrator, the Senior Trust Advisor and the Trust and any partner, director, officer, shareholder,
member, manager, employee or agent thereof, and hold them harmless, from and against any and all claims, losses, penalties, fines,
forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses that any
of them may sustain arising from or as a result of any willful misconduct, bad faith or negligence of the Depositor, in the performance
of its obligations and duties under this Agreement or by reason of negligent disregard by the Depositor of its duties and obligations
hereunder or by reason of breach of any representations or warranties made herein; provided that such indemnity shall not
cover indirect or consequential damages. The Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator
or the Senior Trust Advisor, as the case may be, shall immediately notify the Depositor if a claim is made by a third party with
respect to this Agreement, whereupon the Depositor shall assume the defense of such claim (with counsel reasonably satisfactory
to the Master Servicer (including in its capacity as Companion Paying Agent) or the Special Servicer) and pay all expenses in
connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered
against it or them in respect

 

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of such claim. Any failure to so notify the Depositor shall not affect any rights any of the foregoing
Persons may have to indemnification under this Agreement or otherwise, unless the Depositor’s defense of such claim is materially
prejudiced thereby.

 

(f)              
The Senior Trust Advisor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent), the Special
Servicer, the Trustee, the Certificate Administrator, the Depositor and the Trust and any partner, director, officer, shareholder,
member, manager, employee or agent thereof, and hold them harmless, from and against any and all claims, losses, penalties, fines,
forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses that any
of them may sustain arising from or as a result of any willful misconduct, bad faith or negligence of the Senior Trust Advisor,
in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by the Senior Trust
Advisor of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein; provided
that such indemnity shall not cover indirect or consequential damages. The Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator, or the Depositor, as the case may be, shall immediately notify the Senior Trust Advisor if a claim
is made by a third party with respect to this Agreement or the Mortgage Loans entitling the Trust to indemnification hereunder,
whereupon the Senior Trust Advisor shall assume the defense of such claim (with counsel reasonably satisfactory to the Master
Servicer (including in its capacity as Companion Paying Agent), the Special Servicer, the Trustee, the Certificate Administrator
or the Depositor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy
any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Senior Trust
Advisor shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement or otherwise,
unless the Senior Trust Advisor’s defense of such claim is materially prejudiced thereby.

 

(g)            
Neither the Senior Trust Advisor nor its Affiliates or any of the partners, directors, officers, shareholders, members, managers,
employees or agents of the Senior Trust Advisor shall be under any liability to any Certificateholder for any action taken or
for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided,
however, that this provision shall not protect the Senior Trust Advisor against any liability which would otherwise be
imposed by reason of willful misconduct, bad faith or negligence in the performance of duties or by reason of negligent disregard
of obligations and duties hereunder.

 

(h)            
The applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer, Non-Serviced Certificate Administrator, Non-Serviced
Senior Trust Advisor, Non-Serviced Depositor and Non-Serviced Trustee, and any of their respective partners, directors, officers,
shareholders, members, managers, employees or agents and the Non-Serviced Trust (collectively, the “Non-Serviced Indemnified
Parties”), shall be indemnified by the Trust and held harmless against the Trust’s pro rata share (subject
to the applicable Non-Serviced Intercreditor Agreement) of any and all claims, losses, damages, 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 a Non-Serviced Mortgage Loan and the related Non-Serviced Mortgaged Property (or with
respect to the Non-Serviced Senior Trust Advisor, incurred in connection with the provision of services for the Non-

 

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Serviced Mortgage
Loan) under the applicable Non-Serviced Pooling Agreement, other than any claims, losses, damages, penalties, fines, forfeitures,
reasonable legal fees and related costs, judgments, and any other losses, liabilities or expenses incurred by reason of any Non-Serviced
Indemnified Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties or by reason of
negligent disregard of its obligations and duties under the applicable Non-Serviced Pooling Agreement or the applicable Non-Serviced
Intercreditor Agreement.

  

The
indemnification provided herein shall survive the termination of this Agreement and the termination or resignation of the Master
Servicer (including in its capacity as Companion Paying Agent), the Special Servicer, the Trustee, the Certificate Administrator
or the Senior Trust Advisor.

 

Section 6.04       
Depositor, Master Servicer and Special Servicer Not to Resign. Subject to the provisions of Section 6.02, neither
the Master Servicer nor the Special Servicer shall resign from their respective obligations and duties hereby imposed on each
of them except upon (a) determination that such party’s duties hereunder are no longer permissible under applicable
law or (b) in the case of the Master Servicer or the Special Servicer, upon the appointment of, and the acceptance of such appointment
by, a successor master servicer or special servicer, as applicable, and receipt by the Certificate Administrator and the Trustee
of Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating agencies that such action will
not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities
(if any) (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30). Any such determination
permitting the resignation of the Master Servicer or the Special Servicer pursuant to clause (a) above shall be evidenced
by an Opinion of Counsel (at the expense of the resigning party) to such effect delivered to the Trustee and (prior to the occurrence
of a Consultation Termination Event) the Directing Certificateholder. No such resignation by the Master Servicer or the Special
Servicer shall become effective until the Trustee or a successor master servicer or successor special servicer, as applicable,
shall have assumed the Master Servicer’s or Special Servicer’s, as applicable, responsibilities and obligations in
accordance with Section 7.02 and no such resignation by the Master Servicer or the Special Servicer shall become effective
until the Certificate Administrator shall have filed any required Form 8-K pursuant to Section 11.07 hereof and any
other Form 8-K filings have been completed with respect to any related Companion Loan. Upon any termination (as described in Section 7.01(c))
or resignation of the Master Servicer or the Special Servicer, pursuant to this Section 6.04, the Master Servicer
or the Special Servicer, as applicable, shall have the right and opportunity to appoint any successor master servicer or special
servicer with respect to this Section 6.04; provided that, (prior to the occurrence and continuance of a Control
Event) such successor special servicer is approved by the Directing Certificateholder, such approval not to be unreasonably withheld.
The resigning party shall pay all costs and expenses (including costs and expenses incurred by the Trustee and the Certificate
Administrator) associated with a transfer of its duties pursuant to this Section 6.04. Except as provided in Section 7.01(c),
in no event shall the Master Servicer or the Special Servicer have the right to appoint any successor master servicer or special
servicer if such Master Servicer or Special Servicer, as applicable, is terminated or removed pursuant to Section 7.01.

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Section 6.05        Rights
of the Depositor in Respect of the Master Servicer and the Special Servicer. The Depositor may, but is not obligated to,
enforce the obligations of the Master Servicer and the Special Servicer hereunder and may, but is not obligated to,
perform, or cause a designee to perform, any defaulted obligation of the Master Servicer and the Special Servicer hereunder
or exercise the rights of the Master Servicer or Special Servicer, as applicable, hereunder; provided, however,
that the Master Servicer and the Special Servicer shall not be relieved of any of their respective obligations hereunder by
virtue of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or
liability for any action or failure to act by the Master Servicer or the Special Servicer and is not obligated to supervise
the performance of the Trustee, the Master Servicer, the Senior Trust Advisor or the Special Servicer under this Agreement or
otherwise.

 

Section 6.06       
The Master Servicer and the Special Servicer as Certificate Owner. The Master Servicer, the Special Servicer or any Affiliate
thereof may become the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate
with (except as otherwise set forth in the definition of “Certificateholder”) the same rights it would have if it
were not the Master Servicer, the Special Servicer or an Affiliate thereof.

 

Section 6.07       
The Directing Certificateholder. (a)  Other than with respect to any Serviced AB Whole Loan for which the related
holder of an AB Subordinate Companion Loan is not subject to an AB Control Appraisal Period, for so long as no Control Event has
occurred and is continuing, the Directing Certificateholder shall be entitled to advise (1) the Special Servicer with respect
to all Specially Serviced Mortgage Loans, (2) the Special Servicer with respect to Non-Specially Serviced Mortgage Loans,
as to all matters for which the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and (3) the
Special Servicer with respect to all Mortgage Loans, for which an extension of maturity is being considered by the Special Servicer
or by the Master Servicer subject to consent or deemed consent of the Special Servicer, and notwithstanding anything herein to
the contrary, except as set forth in, and in any event subject to the second and third paragraphs of this Section 6.07,
(i) the Master Servicer, shall not be permitted to take any of the following actions (each a “Major Decision”)
unless it has obtained the consent of the Special Servicer and (ii) with respect to any Mortgage Loan (other than any Non-Serviced
Mortgage Loan) and any Serviced Whole Loan, for so long as no Control Event has occurred and is continuing, the Special Servicer
shall not be permitted to consent to the Master Servicer’s taking any of the following actions nor will the Special Servicer
itself be permitted to take any of the following actions as to which the Directing Certificateholder has objected in writing within
ten (10) Business Days (or thirty (30) days with respect to clause (x) below) after receipt of the written recommendation
and analysis (provided that if such written objection has not been received by the Master Servicer or the Special Servicer,
as applicable, within such ten (10) Business Day (or thirty (30) day) period, then the Directing Certificateholder will be deemed
to have approved such action):

 

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

 

(ii)            
any modification, consent to a modification or waiver of a monetary term or material non-monetary term (including, without limitation,
the timing of payments and

 

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acceptance of discounted payoffs but excluding waiver of Default Interest or late payment charges)
of a Mortgage Loan or any extension of the maturity date of any Mortgage Loan;

 

(iii)           
any sale of a Defaulted Mortgage Loan and any related defaulted Companion Loan or REO Property (other than in connection with
the termination of the Trust) for less than the applicable Purchase Price;

 

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

 

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

 

(vi)           
any waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to a Mortgage Loan or any consent
to such waiver or consent to a transfer of the Mortgaged Property or interests in the Mortgagor 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 lender under
the related loan agreement;

 

(vii)         
any property management company changes (with respect to a Mortgage Loan with a Stated Principal Balance greater than $5,000,000)
or franchise changes with respect to a Mortgage Loan for which the lender is required to consent or approve under the Mortgage
Loan documents;

 

(viii)     
      releases in the aggregate of $100,000.00 or more of any escrows, reserve accounts or letters
of credit held as performance escrows or reserves including, without limitation, with respect to certain Mortgage Loans identified
on Schedule 3 hereto, other than those required pursuant to the specific terms of the related Mortgage Loan and for which there
is no lender discretion;

 

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

 

(x)            
any determination of an Acceptable Insurance Default;

 

(xi)           
any exercise of a material remedy with respect to a Mortgage Loan following a default or event of default under the related Mortgage
Loan documents;

 

(xii)            any
modification, consent to a modification or waiver of any material term of any Intercreditor Agreement related to a Mortgage Loan,
or any action to enforce rights with respect thereto; and

 

    	-286-

    	 

    

 

(xiii)         
 any consent to incurrence of additional debt by a Mortgagor or mezzanine debt by a direct or indirect parent of a Mortgagor,
to the extent the mortgagee’s approval is required under the related Mortgage Loan documents;

 

provided, however,
that, in the event that the Special Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized by
this Agreement to take such action), as applicable, determines that immediate action, with respect to the foregoing matters,
or any other matter requiring consent of the Directing Certificateholder prior to the occurrence and continuance of a Control
Event in this Agreement (or any matter requiring consultation with the Directing Certificateholder or the Senior
Trust Advisor), is necessary to protect the interests of the Certificateholders (or, with respect to any Serviced Whole Loan,
the interest of the Certificateholders and the holders of any related Serviced Companion Loan) (as a collective whole (taking
into account the subordinate or pari passu nature of any Companion Loans, as the case may be)), the Special Servicer
or Master Servicer, as applicable may take any such action without waiting for the Directing Certificateholder’s
response (or without waiting to consult with the Directing Certificateholder or the Senior Trust Advisor, as the case may
be), provided that the Special Servicer or Master Servicer, as applicable provides the Directing Certificateholder (or
the Senior Trust Advisor, if applicable) with prompt written notice following such action including a reasonably detailed
explanation of the basis therefor. The Special Servicer is not required to obtain the consent of the Directing
Certificateholder for any of the foregoing actions after the occurrence and during the continuance of a Control Event; provided, however,
that, after the occurrence and during the continuance of a Control Event but, with respect to the Directing Certificateholder
only, prior to the occurrence of a Consultation Termination Event, the Special Servicer shall consult with the Directing
Certificateholder in connection with any Major Decision (and any other actions which otherwise require consultation with the
Directing Certificateholder prior to a Consultation Termination Event hereunder) and consider alternative actions recommended
by the Directing Certificateholder, in respect thereof. In the event the Special Servicer receives no response from the
Directing Certificateholder within 10 days following its written request for input on any required consultation, the Special
Servicer shall not be obligated to consult with the Directing Certificateholder on the specific matter; provided,
however, that the failure of the Directing Certificateholder to respond shall not relieve the Special Servicer from
consulting with the Directing Certificateholder on any future matters with respect to the applicable Mortgage Loan or any
other Mortgage Loan. In addition, after the occurrence and during the continuance of a Control Event and with respect to any
Serviced AB Mortgage Loan, after the occurrence and during the continuation of both a Control Event and an AB Control
Appraisal Period, the Special Servicer will also be required to consult with the Senior Trust Advisor in connection with any
proposed Major Decision (and any other actions which otherwise require consultation with the Senior Trust Advisor after the
occurrence and during the continuance of a Control Event hereunder) and consider alternative actions recommended by the
Senior Trust Advisor, in respect thereof, provided that such consultation is on a non-binding basis. In the event that
the Special Servicer receives no response from the Senior Trust Advisor within ten (10) days following the later of (i)
its written request for input on any required consultation and (ii) delivery of all such additional information reasonably
requested by the Senior Trust Advisor related to the subject matter of such consultation, the Special Servicer shall not be
obligated to consult with the Senior Trust Advisor on the specific matter; provided, however, that the failure of the Senior
Trust Advisor to respond on any specific matters shall not relieve the Special Servicer from its obligation to consult with
the Senior Trust

 

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Advisor on any future matter with respect to the applicable Mortgage Loan or any other Mortgage
Loan.

 

In
addition, for so long as no Control Event has occurred and is continuing, the Directing Certificateholder subject to any
rights, if any, of the related Companion Holder to advise the Special Servicer with respect to the related Serviced Whole
Loan, pursuant to the terms of the related Intercreditor Agreement, may direct the Special Servicer to take, or to refrain
from taking, such other actions with respect to a Mortgage Loan, as the Directing Certificateholder may deem advisable or as
to which provision is otherwise made herein; provided that notwithstanding anything herein to the contrary, no
such direction or objection contemplated by the preceding paragraph or this paragraph, may require or cause the Master
Servicer or Special Servicer to violate any provision of any Mortgage Loan or related Intercreditor Agreement or mezzanine
intercreditor agreement, applicable law, this Agreement, or the REMIC Provisions (and, with respect to a Serviced Whole Loan,
subject to the rights of the holders of the related Companion Loan), including without limitation the obligation of the
Master Servicer and the Special Servicer to act in accordance with the Servicing Standard, or expose the Master Servicer, the
Special Servicer, the Certificate Administrator, the Senior Trust Advisor, the Trust Fund or the Trustee to liability, or
materially expand the scope of the responsibilities of the Master Servicer or the Special Servicer, as applicable, hereunder
or cause the Master Servicer or the Special Servicer, as applicable, to act, or fail to act, in a manner which in the
reasonable judgment of the Master Servicer or the Special Servicer, as applicable, is not in the best interests of the
Certificateholders.

 

In
the event the Special Servicer or Master Servicer, as applicable, determines that a refusal to consent by the Directing Certificateholder
or any advice from the Directing Certificateholder, would cause the Special Servicer or Master Servicer, as applicable, to violate
the terms of any Mortgage Loan, applicable law or this Agreement, including without limitation, the Servicing Standard, the Special
Servicer or Master Servicer, as applicable, shall disregard such refusal to consent or advise and notify the Directing Certificateholder,
the Trustee and the Rating Agencies of its determination, including a reasonably detailed explanation of the basis therefor. The
taking of, or refraining from taking, any action by the Master Servicer or Special Servicer in accordance with the direction of
or approval of the Directing Certificateholder that does not violate the terms of any Mortgage Loan, applicable law or the Servicing
Standard or any other provisions of this Agreement, will not result in any liability on the part of the Master Servicer or the
Special Servicer.

 

The
Directing Certificateholder shall have no liability to the Trust Fund or the Certificateholders for any action taken, or for refraining
from the taking of any action, or for errors in judgment; provided, however, that the Directing Certificateholder
shall not be protected against any liability to a Controlling Class Certificateholder that would otherwise be imposed by reason
of willful misconduct, bad faith or negligence in the performance of duties owed to the Controlling Class Certificateholders or
by reason of reckless disregard of obligations or duties owed to the Controlling Class Certificateholders. By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Certificateholder may take actions that favor
the interests of one or more Classes of the Certificates including the Holders of the Controlling Class over other Classes of
the Certificates, and that the Directing Certificateholder may have special relationships and interests that conflict with those
of Holders of some Classes

 

    	-288-

    	 

    

 

of the Certificates, that the Directing Certificateholder may act solely in the interests of the Holders
of the Controlling Class, including the Holders of the Controlling Class, that the Directing Certificateholder does not have any
duties or liability to the Holders of any Class of Certificates other than the Controlling Class, that the Directing Certificateholder
shall not be liable to any Certificateholder, by reason of its having acted solely in the interests of the Holders of the Controlling
Class, and that the Directing Certificateholder shall have no liability whatsoever for having so acted, and no Certificateholder
may take any action whatsoever against the Directing Certificateholder or any director, officer, employee, agent or principal
thereof for having so acted.

 

 

Any
Non-Serviced Whole Loan Controlling Holder, with respect to a Non-Serviced Whole Loan, shall have no liability to the Trust Fund
or the Certificateholders for any action taken, or for refraining from the taking of any action, or for errors in judgment. By
its acceptance of a Certificate, each Certificateholder acknowledges and agrees that any such Non-Serviced Whole Loan Controlling
Holder, with respect to the related Non-Serviced Whole Loan, may take actions that favor the interests of one or more classes
of the certificates issued under the related Non-Serviced Pooling Agreement including the Holders of the controlling class under
such Non-Serviced Pooling Agreement over other Classes of the Certificates, and that such Non-Serviced Whole Loan Controlling
Holder, with respect to such Non-Serviced Whole Loan, may have special relationships and interests that conflict with those of
Holders of some Classes of the Certificates, that such Non-Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced
Whole Loan, may act solely in the interests of the Holders of the controlling class under the related Non-Serviced Pooling Agreement,
that such Non-Serviced Whole Loan Controlling Holder, shall not be liable to any Certificateholder, by reason of its having acted
solely in the interests of the Holders of the controlling class under the related Non-Serviced Pooling Agreement, and that the
Non-Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, shall have no liability whatsoever for
having so acted, and no Certificateholder may take any action whatsoever against such Non-Serviced Whole Loan Controlling Holder,
with respect to such Non-Serviced Whole Loan, or any director, officer, employee, agent or principal thereof for having so acted.

 

(b)            
Notwithstanding anything to the contrary contained herein (i) after the occurrence and during the continuance of a Control
Event, the Directing Certificateholder shall have no right to consent to or direct any action taken or not taken by any party
to this Agreement; (ii) after the occurrence and during the continuance of a Control Event but prior to the occurrence of
a Consultation Termination Event, the Directing Certificateholder shall remain entitled to receive any notices, reports or information
to which it is entitled pursuant to this Agreement, and the Master Servicer, Special Servicer and any other applicable party shall
consult with the Directing Certificateholder in connection with any action to be taken or refrained from taking to the extent
set forth herein; and (iii) after the occurrence of a Consultation Termination Event, the Directing Certificateholder shall
have no direction, consultation or consent rights hereunder and no right to receive any notices, reports or information (other
than notices, reports or information required to be delivered to all Certificateholders) or any other rights as Directing Certificateholder.

 

[End
of Article VI]

 

    	-289-

    	 

    

 

Article VII

SERVICER TERMINATION EVENTS

 

Section 7.01       
Servicer Termination Events; Master Servicer and Special Servicer Termination. (a)  “Servicer Termination
Event,” wherever used herein, means any one of the following events:

 

                            
(i)             (A) any failure by the Master Servicer to
make any deposit required to be made by the Master Servicer to the Certificate Account, or remit to the CompanionPaying
Agent for deposit into the related Companion Distribution Account, on the day and by the time such deposit or remittance is first
required to be made under the terms of this Agreement, which failure is not remedied within one (1) Business Day or (B) any
failure by the Master Servicer to deposit into, or remit to the Certificate Administrator for deposit into, any Distribution Account
any amount required to be so deposited or remitted, which failure is not remedied by 11:00 a.m. (New York City time) on the
relevant Distribution Date; or

 

                             
(ii)             any failure by the Special Servicer to deposit into
the REO Account, within one (1) Business Day after such deposit is required to be made or to remit to the Master Servicer for
deposit into the Certificate Account or any other required account hereunder, any amount required to be so deposited or remitted
by the Special Servicer pursuant to, and at the time specified by, the terms of this Agreement; or

 

                              (iii)           
any failure on the part of the Master Servicer or the Special Servicer duly to observe or perform in any material respect any
of its other covenants or obligations contained in this Agreement which continues unremedied for a period of thirty (30) days
(or (A) with respect to any year that a report on Form 10-K is required to be filed, five (5) Business Days in the case
of the Master Servicer’s or Special Servicer’s obligations, as applicable, contemplated by Article XI,
(B) fifteen (15) days in the case of the Master Servicer’s failure to make a Servicing Advance or (C) fifteen
(15) Business Days in the case of a failure to pay the premium for any property insurance policy required to be maintained)
after the date on which written notice of such failure, requiring the same to be remedied, shall have been given (A) to the
Master Servicer or the Special Servicer, as the case may be, by any other party hereto, or (B) to the Master Servicer or
the Special Servicer, as the case may be, with a copy to each other party to this Agreement, by the Holders of Certificates evidencing
Percentage Interests aggregating not less than 25% or, solely as it relates to the servicing of a Serviced Pari Passu Whole Loan,
by the related Serviced Companion Noteholder; provided, however, if such failure is capable of being cured and the
Master Servicer or Special Servicer, as applicable, is diligently pursuing such cure, such period will be extended an additional
thirty (30) days; provided, further, however, that such extended period will not apply to the obligations
regarding Exchange Act reporting; or

 

                             
(iv)            any breach on the part of the Master Servicer or the Special
Servicer of any representation or warranty contained in Section 3.23 or Section 3.24, as applicable, which
materially and adversely affects the interests of any Class of Certificateholders or

 

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Companion
Holders (excluding the holder of any Non-Serviced Companion Loan) and which continues unremedied for a period of thirty (30)
days after the date on which notice of such breach, requiring the same to be remedied, shall have been given to the Master
Servicer or the Special Servicer, as the case may be, by the Depositor, the Certificate Administrator or the Trustee, or to
the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee by the Holders of
Certificates evidencing Percentage Interests aggregating not less than 25% or, solely as it relates to the servicing of a
Serviced Pari Passu Whole Loan, by the related Serviced Companion Noteholder; provided, however, that if such
breach is capable of being cured and the Master Servicer or the Special Servicer, as applicable, is diligently pursuing such
cure, such 30-day period will be extended an additional thirty (30) days; or

 

                             
(v)             a decree or order of a court or agency or supervisory
authority having jurisdiction in the premises in an involuntary case under any present or future federal or state bankruptcy,
insolvency or similar law for the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy,
insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation
of its affairs, shall have been entered against the Master Servicer or the Special Servicer and such decree or order shall have
remained in force undischarged, undismissed or unstayed for a period of sixty (60) days; or

 

                    
         (vi)            the
Master Servicer or the Special Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar
official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or
relating to the Master Servicer or the Special Servicer or of or relating to all or substantially all of its property; or

 

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

 

                             
(viii)          Moody’s has (A) qualified, downgraded or withdrawn its rating
or ratings of one or more Classes of Certificates, or (B) placed one or more Classes of Certificates on “watch status”
in contemplation of a rating downgrade or withdrawal (and such qualification, downgrade, withdrawal or “watch status”
placement shall not have been withdrawn within sixty (60) days) and, in the case of either of clauses (A) or (B), publicly cited
servicing concerns with the Master Servicer or Special Servicer, as applicable, as the sole or a material factor in such rating
action;

 

                             
(ix)            the Master Servicer or Special Servicer is no longer rated
at least “CMS3” or “CSS3”, respectively, by Fitch and such Master Servicer or Special Servicer is not
reinstated to at least that rating within 60 days of the delisting; or

 

                             
(x)             the Master Servicer or the Special Servicer, as applicable,
has failed to maintain a ranking by Morningstar equal to or higher than “MOR CS3” as a master

 

    	-291-

    	 

    

 

servicer
or special servicer, as applicable, and the Master Servicer or the Special Servicer, as applicable, is not reinstated to
that ranking within sixty (60) days; provided that if Morningstar has not issued a ranking with respect to such Master
Servicer or Special Servicer, as applicable, then the following shall constitute a Servicer Termination Event: Morningstar
has (i) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or any class of
Serviced Companion Loan Securities, or (ii) placed one or more Classes of Certificates or any class of Serviced Companion
Loan Securities on “watch status” in contemplation of rating downgrade or withdrawal and, in the case of either
of clauses (i) or (ii), publicly citing servicing concerns with the Master Servicer or the Special Servicer, as
applicable, as the sole or a material factor in such rating action (and such qualification, downgrade, withdrawal or
“watch status” placement has not been withdrawn by Morningstar within sixty (60) days of such event).

 

(b)          If
any Servicer Termination Event with respect to the Master Servicer or the Special Servicer (in either case, for purposes of this
Section 7.01(b), the “Affected Party”) shall occur and be continuing, then, and in each and every such
case, so long as such Servicer Termination Event shall not have been remedied, the Trustee or the Depositor may, and at the written
direction of (prior to the occurrence and continuance of a Control Event) the Directing Certificateholder (solely with respect
to the Special Servicer) or the Holders of Certificates entitled to at least 25% of the Voting Rights, the Trustee shall, terminate
(and the Depositor may direct the Trustee to terminate each of the Master Servicer or the Special Servicer, as applicable, upon
five (5) Business Days’ written notice if there is a Servicer Termination Event under clause (iii)(A) above), by
notice in writing to the Affected Party, with a copy of such notice to the Depositor and the Senior Trust Advisor, all of the
rights (subject to Section 3.11 and Section 6.03) and obligations of the Affected Party under this Agreement and
in and to the Mortgage Loans and the proceeds thereof (other than as a Certificateholder or Companion Holder, if applicable);
provided, however, that the Affected Party shall be entitled to the payment of accrued and unpaid compensation and
reimbursement through the date of such termination as provided for under this Agreement for services rendered and expenses incurred.
From and after the receipt by the Affected Party of such written notice except as otherwise provided in this Article VII,
all authority and power of the Affected Party under this Agreement, whether with respect to the Certificates (other than as a
Holder of any Certificate) or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee with respect to a termination
of the Master Servicer or the Special Servicer pursuant to and under this Section 7.01, and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on behalf of and at the expense of the Affected Party, as attorney-in-fact
or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate
to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage
Loans and related documents, or otherwise. The Master Servicer and Special Servicer each agree that if it is terminated pursuant
to this Section 7.01(b), it shall promptly (and in any event no later than twenty (20) Business Days subsequent to its
receipt of the notice of termination) provide the Trustee with all documents and records requested by it to enable it to assume
the Master Servicer’s or the Special Servicer’s, as the case may be, functions hereunder, and shall cooperate with
the Trustee in effecting the termination of the Master Servicer’s or the Special Servicer’s, as the case may be, responsibilities
and rights (subject to Section 3.11 and Section 6.03) hereunder, including, without limitation, the transfer within
five (5) Business Days to the Trustee for administration by it of all cash amounts which shall at the

 

    	-292-

    	 

    

 

time
be or should have been credited by the Master Servicer to the Certificate Account or any Servicing Account (if it is the
Affected Party), by the Special Servicer to the REO Account (if it is the Affected Party) or thereafter be received with
respect to the Mortgage Loans or any REO Property (provided, however, that the Master Servicer and the Special
Servicer each shall, if terminated pursuant to this Section 7.01(b) or pursuant to Section 7.01(d) (with
respect to the Special Servicer), continue to be entitled to receive all amounts accrued or owing to it under this Agreement
on or prior to the date of such termination, whether in respect of Advances (in the case of the Special Servicer or the
Master Servicer) or otherwise, and it and its Affiliates and the directors, managers, officers, members, employees and agents
of it and its Affiliates shall continue to be entitled to the benefits of Section 3.11 and Section 6.03
notwithstanding any such termination).

 

(c)          If
the Master Servicer receives notice of termination under Section 7.01(b) solely due to a Servicer Termination Event under
Section 7.01(a)(viii), (ix) or (x) the Master Servicer shall have a forty-five (45) day period after such
notice in which to find a successor master servicer qualified to act as Master Servicer hereunder in accordance with Section
6.02 and Section 7.02 and to which the Master Servicer can sell its rights to service the Mortgage Loans under this
Agreement. During such forty-five (45) day period the Master Servicer may continue to serve as Master Servicer hereunder. In the
event that the Master Servicer is unable, within such forty-five (45) day period, to cause a qualified successor master servicer
to assume the duties of the Master Servicer hereunder, then and in such event, the Trustee shall assume the obligations of the
Master Servicer hereunder.

 

Notwithstanding
Section 7.01(b), if any Servicer Termination Event on the part of the Special Servicer shall occur and be continuing that
affects the holder of a Serviced Pari Passu Companion Loan, then, so long as the Special Servicer is not otherwise terminated,
the holder of such Serviced Pari Passu Companion Loan or the Other Trustee appointed under the related Other Pooling and Servicing
Agreement, as applicable, shall be entitled to direct the Trustee to terminate the Special Servicer with respect to the related
Serviced Pari Passu Whole Loan. Any Special Servicer appointed to replace the Special Servicer with respect to a Serviced Pari
Passu Mortgage Loan cannot at any time be (without the prior written consent of the holder of such Serviced Pari Passu Companion
Loan) the person (or Affiliate thereof) that was terminated at the direction of the holder of the related Serviced Pari Passu
Companion Loan. Any such Special Servicer under this paragraph shall meet the eligibility requirements of Section 7.02
and the eligibility requirements of the related Other Pooling and Servicing Agreement, and the appointment thereof shall comply
with the provisions of Section 7.02. Any appointment of a replacement Special Servicer in accordance with this paragraph
shall be subject to the receipt of Rating Agency Confirmation and confirmation from the rating agencies that such appointment
or replacement will not result in the downgrade, withdrawal or qualification of the then-current ratings of any class of any related
Serviced Companion Loan Securities (provided that such rating agency confirmation may be considered satisfied in the same
manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30).

 

(d)          Subject
to the rights of the holder of any AB Subordinate Companion Loan related to a Serviced AB Whole Loan pursuant to the related Intercreditor
Agreement at any time prior to the occurrence and continuance of a Control Event, the Directing

 

    	-293-

    	 

    

 

Certificateholder
shall be entitled to terminate the rights (subject to Section 3.11 and Section 6.03) and obligations of the
Special Servicer under this Agreement, with or without cause, upon ten (10) Business Days’ notice to the Special
Servicer, the Master Servicer, the Certificate Administrator, the Trustee and the Senior Trust Advisor; such termination to
be effective upon the appointment of a successor special servicer meeting the requirements of this Section 7.01(d).
Upon a termination of such Special Servicer, the Directing Certificateholder shall appoint a successor special servicer; provided, however,
that (i) such successor will meet the requirements set forth in Section 7.02, (ii) each Rating Agency delivers Rating
Agency Confirmation and, in the case of any class of any Serviced Companion Loan Securities the applicable rating
agencies deliver a confirmation that such action will not result in the downgrade, withdrawal or qualification of its
then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner as
any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30)
and (iii) no replacement of the Special Servicer shall be effective until the Certificate Administrator shall have filed any
required Form 8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have been completed with respect to
any related Companion Loan.

 

With
respect to any Non-Serviced Whole Loan, pursuant to the related Intercreditor Agreement, the related Non-Serviced Whole Loan Controlling
Holder will have the right, with or without cause, to replace the applicable Non-Serviced Special Servicer then acting with respect
to such Whole Loan and appoint a replacement special servicer in lieu thereof without the consent of the holder of the related
Mortgage Loan. The Non-Serviced Whole Loan Controlling Holder (prior to a control event under the related Non-Serviced Pooling
Agreement), and the applicable certificateholders with the requisite percentage of voting rights (after a control event) will
have the right, with or without cause, to replace the special servicer then acting with respect to such Whole Loan and appoint
a replacement special servicer in lieu thereof, pursuant to the terms of the related Non-Serviced Pooling Agreement.

 

After
the occurrence and during the continuance of a Control Event and upon (a) the written direction of Holders of Principal Balance
Certificates and the Class EC Certificates evidencing not less than 25% of the Voting Rights (taking into account the application
of any Appraisal Reductions to notionally reduce the Certificate Balances pursuant to Section 4.06(b) hereof) of the Principal
Balance Certificates and the Class EC Certificates requesting a vote to replace the Special Servicer with a new special servicer
designated in such written direction, (b) payment by such Holders to the Certificate Administrator of the reasonable fees and
expenses (including any legal fees and any Rating Agency fees and expenses) to be incurred by the Certificate Administrator in
connection with administering such vote and which will not be additional Trust Fund expenses and (c) delivery by such Holders
to the Certificate Administrator and Trustee of Rating Agency Confirmation from each Rating Agency (which Rating Agency Confirmation
shall be obtained at the expense of such Holders) and, in the case of any class of any Serviced Companion Loan Securities, the
applicable rating agencies deliver a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30),
the Certificate Administrator shall promptly post notice to all Certificateholders of such request on the Certificate Administrator’s
Website in

 

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accordance
with Section 3.15(b) and concurrently by mail, and conduct the solicitation of votes of all Certificates in such regard,
which such vote shall occur within one hundred-eighty (180) days of the posting of such notice. Upon the written direction of
Holders of Certificates evidencing at least 75% of a Certificateholder Quorum of Certificates, the Trustee shall terminate all
of the rights and obligations of the Special Servicer under this Agreement and appoint the successor special servicer (which must
be a Qualified Replacement Special Servicer) designated by such Certificateholders. The Certificate Administrator shall include
on each Statement to Certificateholders a statement that each Certificateholder may (i) access such notices via the Certificate
Administrator’s Website and (ii) register to receive electronic mail notifications when such notices are posted
thereon. Notwithstanding the foregoing, the Certificateholder’s direction to remove the Special Servicer shall not apply
to any Serviced AB Whole Loan for which the holder of the related AB Subordinate Companion Loan is not subject to an AB Control
Appraisal Period.

 

With
respect to any Serviced AB Whole Loan, an AB Whole Loan Controlling Holder shall have the right, prior to the occurrence and continuance
of an AB Control Appraisal Period, to replace the Special Servicer solely with respect to the related Serviced AB Whole Loan,
so long as (A) each Rating Agency delivers a Rating Agency Confirmation; (B) the 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 this Agreement from and after the date it becomes the Special Servicer as they relate
to any AB Whole Loan pursuant to an assumption agreement reasonably satisfactory to the Certificate Administrator; and (C) the
Certificate Administrator shall have received an opinion of counsel reasonably satisfactory to the Certificate Administrator to
the effect that (x) the designation of such replacement to serve as Special Servicer is in compliance with this Agreement, (y)
such replacement will be bound by the terms of this Agreement with respect to any AB Whole Loan, and (z) subject to customary
qualifications and exceptions, this Agreement will be enforceable against such replacement in accordance with the terms hereof.

 

The
parties hereto acknowledge that, notwithstanding anything to the contrary contained in this section, in accordance with the related
Intercreditor Agreement, if a servicer termination event on the part of a Non-Serviced Special Servicer under a Non-Serviced Pooling
Agreement remains unremedied and affects the holder of the related Non-Serviced Mortgage Loan, and the related Non-Serviced Special
Servicer has not otherwise been terminated, the holder of the related Non-Serviced Mortgage Loan (or the Trustee, acting at the
direction of the Directing Certificateholder) will be entitled to direct the related Non-Serviced Trustee to terminate the related
Non-Serviced Special Servicer solely with respect to the related Non-Serviced Whole Loan. The appointment (or replacement) of
a special servicer with respect to a Non-Serviced Whole Loan, as applicable, will in any event be subject to Rating Agency Confirmation
from each Rating Agency. A replacement special servicer will be selected by the related Non-Serviced Trustee or, prior to a consultation
termination event (or similarly defined term) under the related Non-Serviced Pooling Agreement, by the related Non-Serviced Whole
Loan Controlling Holder; provided, however, that any successor special servicer appointed to replace the special
servicer with respect to such Non-Serviced Whole Loan cannot at any time be the Person (or an Affiliate thereof) that was terminated
at the direction of the holder of such Non-Serviced Mortgage Loan, without the prior written consent of the Directing Certificateholder.

 

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Following
the occurrence of a Consultation Termination Event, subject to the immediately succeeding paragraph, if the Senior Trust
Advisor determines that the Special Servicer is not performing its duties as required hereunder or is otherwise not acting in
accordance with the Servicing Standard, the Senior Trust Advisor shall deliver to the Trustee and the Certificate
Administrator, with a copy to the Special Servicer, a written recommendation in the form of Exhibit W attached hereto
(which form may be modified or supplemented from time to time to cure any ambiguity or error or to incorporate any additional
information, subject to compliance of such form with the terms and provisions of this Agreement; provided, further,
that in no event shall the information or any other content included in such written recommendation contravene any
provision of this Agreement) detailing the reasons supporting its position (along with relevant information justifying its
recommendation) and recommending a suggested replacement special servicer, which shall be a Qualified Replacement Special
Servicer. In such event, the Certificate Administrator shall promptly post notice to all Certificateholders of such
recommendation on the Certificate Administrator’s Website in accordance with Section 3.15(b), and by mail
conduct the solicitation of votes of all Certificates in such regard. Upon (i) the affirmative vote of Holders of Principal
Balance Certificates and the Class EC Certificates evidencing at least a majority of the aggregate Voting Rights (taking into
account the application of any Appraisal Reductions to notionally reduce the respective Certificate Balances of such
Certificates) of all Principal Balance Certificates and the Class EC Certificates on an aggregate basis and (ii) receipt of
Rating Agency Confirmation from each Rating Agency by the Certificate Administrator following satisfaction of the foregoing clause
(i), the Trustee shall (i) terminate all of the rights and obligations of the Special Servicer under this Agreement and
appoint a successor special servicer approved by the Certificateholders and (ii) promptly notify such outgoing Special
Servicer of the effective date of such termination. The reasonable out-of-pocket costs and expenses (including reasonable
legal fees and expenses of outside counsel) associated with obtaining such Rating Agency Confirmations and administering such
vote and the Senior Trust Advisor’s identification of a Qualified Replacement Special Servicer shall be an
additional Trust Fund expense. In the event that the Trustee does not receive at least a majority of the requested votes,
then the Trustee shall have no obligation to remove the Special Servicer. Prior to the appointment of any replacement special
servicer, such replacement special servicer shall have agreed to succeed to the obligations of the Special Servicer under
this Agreement and to act as the Special Servicer’s successor hereunder. Notwithstanding the foregoing, the Senior
Trust Advisor shall not be permitted to recommend the replacement of the Special Servicer with respect to any Serviced AB
Whole Loan so long as the related Serviced Companion Noteholder is not subject to an AB Control Appraisal Period under the
related Intercreditor Agreement.

 

No
penalty or fee shall be payable to the terminated Special Servicer with respect to any termination pursuant to this Section
7.01(d). All costs of any such termination made by the Directing Certificateholder without cause shall be paid by the Holders
of the Controlling Class.

 

For
the avoidance of doubt, the indemnification of the Senior Trust Advisor in Section 6.03 shall include, subject to the limitations
set forth in Section 6.03, any action or claim arising from, or relating to, the Senior Trust Advisor’s determination
under this Section 7.01(d) (regarding removal of the Special Servicer), or the result of the vote of the Certificateholders
(regarding removal of the Special Servicer).

 

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(e)          The
Master Servicer and Special Servicer shall, as the case may be, from time to time, take all such reasonable actions as are
required by it in accordance with the related Servicing Standard in order to prevent the Certificates from being placed on
“watch” status or downgraded due to servicing or special servicing, as applicable, concerns by any Rating Agency.
In no event shall the remedy for a breach of the foregoing covenant extend beyond termination pursuant to Section
7.01(a)(viii) and (ix) and the resulting operation of Section 7.01(b) and (c). The operation
of this subsection (e) shall not be construed to limit the effect of Section 7.01(a)(viii) or (ix).

 

(f)          Notwithstanding
the foregoing, (1) if any Servicer Termination Event on the part of the Master Servicer affects a Serviced Companion Loan, the
related holder of a Serviced Companion Loan or the rating on any class of certificates backed, wholly or partially, by any Serviced
Companion Loan Securities, and if the Master Servicer is not otherwise terminated, or (2) if a Servicer Termination Event on the
part of the Master Servicer affects only a Serviced Companion Loan, the related holder of a Serviced Companion Loan or the rating
on any class of certificates backed, wholly or partially, by any Serviced Companion Loan Securities, then the Master Servicer
may not be terminated by or at the direction of the related holder of such Serviced Companion Loan or the holders of any certificates
backed, wholly or partially, by such Serviced Companion Loan, but upon the written direction of the related holder of such Serviced
Companion Loan, the Master Servicer shall be required to appoint a sub-servicer that will be responsible for servicing the related
Serviced Whole Loan (including acting as Companion Paying Agent).

 

Section
7.02     Trustee to Act; Appointment of Successor. On and after the time the Master Servicer or
the Special Servicer, as the case may be, either resigns pursuant to subsection (a) of the first sentence of Section 6.04
or receives a notice of termination for cause pursuant to Section 7.01(b), and provided that no acceptable successor
has been appointed within the time period specified in Section 7.01(c), the Trustee shall be the successor to such party,
until such successor to the Master Servicer or the Special Servicer, as applicable, is appointed as provided in this Section
7.02 or by the Directing Certificateholder as provided in Section 7.01(d), as applicable, in all respects in its capacity
as Master Servicer or Special Servicer, as applicable, under this Agreement and the transactions set forth or provided for herein
and shall be subject to, and have the benefit of, all of the rights (subject to Section 3.11 and Section 6.03),
benefits, responsibilities, duties, liabilities and limitations on liability relating thereto and that arise thereafter placed
on or for the benefit of the Master Servicer or Special Servicer, as applicable, by the terms and provisions hereof; provided,
however, that any failure to perform such duties or responsibilities caused by the terminated party’s failure under
Section 7.01 to provide information or moneys required hereunder shall not be considered a default by such successor hereunder.
The appointment of a successor master servicer shall not affect any liability of the predecessor Master Servicer which may have
arisen prior to its termination as Master Servicer, and the appointment of a successor special servicer shall not affect any liability
of the predecessor Special Servicer which may have arisen prior to its termination as Special Servicer. The Trustee in its capacity
as successor to the Master Servicer or the Special Servicer, as the case may be, shall not be liable for any of the representations
and warranties of the Master Servicer or the Special Servicer, respectively, herein or in any related document or agreement, for
any acts or omissions of the predecessor Master Servicer or Special Servicer or for any losses incurred by the predecessor Master
Servicer pursuant to Section 3.06 hereunder, nor shall the Trustee be

 

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required
to purchase any Mortgage Loan hereunder solely as a result of its obligations as successor master servicer or special
servicer, as the case may be. Subject to Section 3.11, as compensation therefor, the Trustee as successor master
servicer shall be entitled to the Servicing Fees and all fees relating to the Mortgage Loans or the Companion Loans which the
Master Servicer would have been entitled to if the Master Servicer had continued to act hereunder, including but not limited
to any income or other benefit from any Permitted Investment pursuant to Section 3.06, and subject to Section
3.11, and the Trustee as successor to the Special Servicer shall be entitled to the Special Servicing Fees to which the
Special Servicer would have been entitled if the Special Servicer had continued to act hereunder. Should the Trustee succeed
to the capacity of the Master Servicer or the Special Servicer, as the case may be, the Trustee shall be afforded the same
standard of care and liability as the Master Servicer or the Special Servicer, as applicable, hereunder notwithstanding
anything in Section 8.01 to the contrary, but only with respect to actions taken by it in its role as successor master
servicer or successor special servicer, as the case may be, and not with respect to its role as Trustee hereunder.
Notwithstanding the above, the Trustee may, if it shall be unwilling to act as successor to the Master Servicer or the
Special Servicer, as applicable, or shall, if it is unable to so act, or if the Trustee is not approved as a servicer by each
Rating Agency, or if, prior to the occurrence and continuance of a Control Event, the Directing Certificateholder (solely
with respect to the Special Servicer) or the Holders of Certificates entitled to at least 25% of the Voting Rights so request
in writing to the Trustee, promptly appoint, or petition a court of competent jurisdiction to appoint, any established
mortgage loan servicing institution which meets the criteria set forth in Section 6.04 and otherwise herein, as the
successor to the Master Servicer or the Special Servicer, as applicable, hereunder in the assumption of all or any part of
the responsibilities, duties or liabilities of the Master Servicer or Special Servicer hereunder. No appointment of a
successor to the Master Servicer or the Special Servicer hereunder shall be effective until (i) the assumption in writing by
the successor to the Master Servicer or the Special Servicer of all its responsibilities, duties and liabilities
hereunder that arise thereafter, (ii) upon receipt of Rating Agency Confirmation from each Rating Agency and confirmation of
the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its
then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.30), (iii) which appointment has been approved (prior to the
occurrence and continuance of a Control Event) by the Directing Certificateholder, such approval not to be unreasonably
withheld and (iv) the Certificate Administrator shall have filed any required Form 8-K pursuant to Section 11.07
hereof and any other Form 8-K filings have been completed with respect to any related Companion Loan. Pending appointment of
a successor to the Master Servicer or the Special Servicer hereunder, unless the Trustee shall be prohibited by law from so
acting, the Trustee shall act in such capacity as herein above provided. In connection with such appointment and assumption
of a successor to the Master Servicer or Special Servicer as described herein, the Trustee may make such arrangements for the
compensation of such successor out of payments on the Mortgage Loans as it and such successor shall agree; provided, however,
that no such compensation with respect to a successor master servicer or successor special servicer, as the case may be,
shall be in excess of that permitted the terminated Master Servicer or Special Servicer, as the case may be, hereunder. The
Trustee, the Master Servicer or the Special Servicer (whichever is not the terminated party) and such successor shall take
such action, consistent with this Agreement, as

 

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shall be necessary
to effectuate any such succession. Any costs and expenses associated with the transfer of the servicing function (other than
with respect to a termination without cause) under this Agreement shall be borne by the predecessor Master Servicer or
Special Servicer, as applicable. If such predecessor Master Servicer or Special Servicer (as the case may be) has not
reimbursed the party requesting such termination or the successor master servicer or special servicer for such expenses
within 90 days after the presentation of reasonable documentation, such expense shall be reimbursed by the Trust Fund; provided
that the terminated Master Servicer or Special Servicer shall not thereby be relieved of its liability for such expenses. If
and to the extent that the terminated Master Servicer or Special Servicer has not reimbursed such costs and expenses, the
party requesting such termination shall have an affirmative obligation to take all reasonable actions to collect such
expenses on behalf of the Trust Fund. In the event of a termination without cause, such costs and expenses shall be borne by
the party requesting such termination, or as otherwise set forth herein; provided that the Certificate Administrator
and the Trustee shall not bear any such costs and expenses. For the avoidance of doubt, if the Trustee is terminating the
Master Servicer or Special Servicer in accordance with this Agreement at the direction of any party or parties permitted to
direct the Trustee to so terminate the Master Servicer or Special Servicer pursuant to this Agreement, the Trustee shall not
have any liability for such expenses pursuant to this paragraph.

 

Section
7.03     Notification to Certificateholders. (a) Upon any resignation of the Master Servicer or
the Special Servicer pursuant to Section 6.04, any termination of the Master Servicer or the Special Servicer pursuant
to Section 7.01 or any appointment of a successor to the Master Servicer or the Special Servicer pursuant to Section
7.02, the Certificate Administrator shall give prompt written notice thereof to Certificateholders at their respective addresses
appearing in the Certificate Register.

 

(b)          Not
later than the later of (i) sixty (60) days after the occurrence of any event which constitutes or, with notice or lapse of time
or both, would constitute a Servicer Termination Event and (ii) five (5) days after the Certificate Administrator would be deemed
to have notice of the occurrence of such an event in accordance with Section 8.02(vii), the Certificate Administrator shall
transmit by mail to the Depositor and all Certificateholders (and, if a Serviced Whole Loan is affected, the related Serviced
Companion Noteholder) notice of such occurrence, unless such default shall have been cured.

 

Section
7.04     Waiver of Servicer Termination Events. The Holders of Certificates representing at least
66-2/3% of the Voting Rights allocated to each Class of Certificates affected by any Servicer Termination Event hereunder may
waive such Servicer Termination Event within twenty (20) days of the receipt of notice from the Certificate Administrator of the
occurrence of such Servicer Termination Event; provided, however, that a Servicer Termination Event under clause
(i) of Section 7.01(a) may be waived only by all of the Certificateholders of the affected Classes. Upon any such waiver
of a Servicer Termination Event, such Servicer Termination Event shall cease to exist and shall be deemed to have been remedied
for every purpose hereunder. Upon any such waiver of a Servicer Termination Event by Certificateholders, the Trustee and the Certificate
Administrator shall be entitled to recover all costs and expenses incurred by it in connection with enforcement action taken with
respect to such Servicer Termination Event prior to such waiver from the Trust Fund. No such waiver shall extend to any subsequent
or other Servicer Termination Event or impair any right consequent

 

    	-299-

    	 

    

 

thereon
except to the extent expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving any
Servicer Termination Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate
of the Depositor shall be entitled to the same Voting Rights with respect to the matters described above as they would if any
other Person held such Certificates.

 

Section
7.05     Trustee as Maker of Advances. In the event that the Master Servicer fails to fulfill
its obligations hereunder to make any Advances and such failure remains uncured, the Trustee shall perform such obligations (x)
within five (5) Business Days following such failure by the Master Servicer with respect to Servicing Advances resulting in a
Servicer Termination Event under Section 7.01(a)(iii) hereof to the extent a Responsible Officer of the Trustee has actual
knowledge of such failure with respect to such Servicing Advances and (y) by noon, New York City time, on the related Distribution
Date with respect to P&I Advances pursuant to the Certificate Administrator’s notice of failure pursuant to Section
4.03(a) unless such failure has been cured. With respect to any such Advance made by the Trustee, the Trustee shall succeed
to all of the Master Servicer’s rights with respect to Advances hereunder, including, without limitation, the Master Servicer’s
rights of reimbursement and interest on each Advance at the Reimbursement Rate, and rights to determine that a proposed Advance
is a Nonrecoverable P&I Advance or Servicing Advance, as the case may be, (without regard to any impairment of any such rights
of reimbursement caused by such Master Servicer’s default in its obligations hereunder); provided, however,
that if Advances made by the Trustee and the Master Servicer shall at any time be outstanding, or any interest on any Advance
shall be accrued and unpaid, all amounts available to repay such Advances and the interest thereon hereunder shall be applied
entirely to the Advances outstanding to the Trustee, until such Advances shall have been repaid in full, together with all interest
accrued thereon, prior to reimbursement of the Master Servicer for such Advances. The Trustee shall be entitled to conclusively
rely on any notice given with respect to a Nonrecoverable Advance hereunder.

 

[End
of Article VII]

 

Article
VIII

CONCERNING THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR

 

Section
8.01     Duties of the Trustee and the Certificate Administrator. (a) The Trustee and the Certificate
Administrator, prior to the occurrence of a Servicer Termination Event and after the curing or waiving of all Servicer Termination
Events which may have occurred, undertake to perform such duties and only such duties as are specifically set forth in this Agreement.
If a Servicer Termination Event occurs and is continuing, the Trustee shall exercise such of the rights and powers vested in it
by this Agreement, and use the same degree of care and skill in their exercise as a prudent person would exercise or use under
the circumstances in the conduct of his own affairs. Any permissive right of the Trustee and the Certificate Administrator contained
in this Agreement shall not be construed as a duty.

 

(b)          The
Trustee or the Certificate Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports, documents,
orders or other instruments furnished to the Trustee or the Certificate Administrator which are specifically required to be

 

    	-300-

    	 

    

 

 

furnished
pursuant to any provision of this Agreement (other than the Mortgage Files, the review of which is specifically governed by the
terms of Article II), shall examine them to determine whether they conform to the requirements of this Agreement. If any
such instrument is found not to conform to the requirements of this Agreement in a material manner, the Trustee or the Certificate
Administrator shall notify the party providing such instrument and requesting the correction thereof. The Trustee or the Certificate
Administrator shall not be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report,
document, order or other instrument furnished by the Depositor, the Master Servicer or the Special Servicer or another Person,
and accepted by the Trustee or the Certificate Administrator in good faith, pursuant to this Agreement.

 

(c)          No
provision of this Agreement shall be construed to relieve the Trustee or the Certificate Administrator from liability for its
own negligent action, its own negligent failure to act or its own willful misconduct or bad faith; provided, however,
that:

 

(i)           Prior
to the occurrence of a Servicer Termination Event, and after the curing of all such Servicer Termination Events which may have
occurred, the duties and obligations of the Trustee and the Certificate Administrator shall be determined solely by the express
provisions of this Agreement, the Trustee and the Certificate Administrator shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read
into this Agreement against the Trustee and the Certificate Administrator and, in the absence of bad faith on the part of the
Trustee and the Certificate Administrator, the Trustee and the Certificate Administrator may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Agreement;

 

(ii)          Neither
the Trustee nor the Certificate Administrator, as applicable, shall be liable for an error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee or the Certificate Administrator, respectively, unless it shall be
proved that the Trustee or the Certificate Administrator, as applicable, was negligent in ascertaining the pertinent facts; and

 

(iii)         Neither
the Trustee nor the Certificate Administrator, as applicable, shall be liable with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with the direction of Holders of Certificates entitled to direct the Trustee and/or
Certificate Administrator pursuant to the terms of this Agreement, relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee or the Certificate Administrator, or exercising any trust or power conferred upon the
Trustee or the Certificate Administrator, under this Agreement (unless a higher percentage of Voting Rights is required for such
action).

 

(d)         The
Certificate Administrator shall make available via its internet website initially located at www.ctslink.com to the Serviced Companion
Noteholders all reports that the Certificate Administrator has made available to Certificateholders under this Agreement to the
extent such reports relate to the related Serviced Companion Loan and upon the submission of an Investor Certification pursuant
to this Agreement.

 

    	-301-

    	 

    

 

Section
8.02     Certain Matters Affecting the Trustee and the Certificate Administrator. Except as otherwise
provided in Section 8.01:

 

(i)          The
Trustee and the Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon any resolution,
Officer’s Certificate, certificate of auditors or any other
certificate, statement, instrument, opinion, report, notice, request, consent, order, Appraisal, bond or other paper or document
reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties;

 

(ii)          The
Trustee and the Certificate Administrator may consult with counsel and the advice of such counsel or 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 therewith;

 

(iii)         Neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in
it by this Agreement or the Certificates or to make any investigation of matters arising hereunder or to institute, conduct or
defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant
to the provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator,
as applicable, reasonable security or indemnity satisfactory to it, against the costs, expenses and liabilities which may be incurred
therein or thereby; neither the Trustee nor the Certificate Administrator shall be required to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights
or powers, if it shall have reasonable grounds for believing that repayment of such funds or reasonable indemnity satisfactory
to it against such risk or liability is not reasonably assured to it; nothing contained herein shall, however, relieve the Trustee
of the obligation, upon the occurrence of a Servicer Termination Event which has not been cured, to exercise such of the rights
and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs;

 

(iv)         Neither
the Trustee nor the Certificate Administrator shall be liable for any action reasonably taken, suffered or omitted by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;

 

(v)          Prior
to the occurrence of a Servicer Termination Event hereunder and after the curing of all Servicer Termination Events which may
have occurred, neither the Trustee nor the Certificate Administrator shall be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval,
bond or other paper or document, unless requested in writing to do so by Holders of Certificates entitled to more than 50% of
the Voting Rights; provided, however, that if the payment within a reasonable time to the Trustee or the Certificate
Administrator of the costs, expenses or liabilities likely to be

 

    	-302-

    	 

    

 

incurred
by it in the making of such investigation is, in the opinion of the Trustee or the Certificate Administrator, respectively, not
reasonably assured to the Trustee or the Certificate Administrator by the security afforded to it by the terms of this Agreement,
the Trustee or the Certificate Administrator, respectively, may require reasonable indemnity satisfactory to it from such requesting
Holders against such expense or liability as a condition to taking any such action. The reasonable expense of every such reasonable
examination shall be paid by the requesting Holders;

 

(vi)        The
Trustee or the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys
shall not relieve the Trustee or the Certificate Administrator of its duties or obligations hereunder; provided, further,
that the Trustee or the Certificate Administrator, as the case may be, may not perform any duties hereunder through any Person
that is a Prohibited Party;

 

(vii)       For
all purposes under this Agreement, neither the Trustee nor the Certificate Administrator shall be deemed to have notice of any
Servicer Termination Event unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable, has actual
knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee or the Certificate
Administrator at the respective Corporate Trust Office, and such notice references the Certificates or this Agreement;

 

(viii)      Neither
the Trustee nor the Certificate Administrator shall be responsible for any act or omission of the Master Servicer or the Special
Servicer (unless the Trustee is acting as Master Servicer or Special Servicer, as the case may be, in which case the Trustee shall
only be responsible for its own actions as Master Servicer or Special Servicer) or of the Depositor; and

 

(ix)        Neither
the Trustee nor the Certificate Administrator shall in any way be liable by reason of any insufficiency in the Trust Fund unless
it is determined by a court of competent jurisdiction that the Trustee’s or Certificate Administrator’s, as applicable,
negligence or willful misconduct was the primary cause of such insufficiency.

 

Each
of the Trustee and the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities
afforded to it as Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including,
without limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider and Authenticating Agent).

 

Section
8.03     Trustee and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates
or Mortgage Loans. The recitals contained herein and in the Certificates, other than the acknowledgments of the Trustee or
the Certificate Administrator in Sections 2.02 and 2.04 and the signature, if any, of the Certificate Registrar
and Authenticating Agent set forth on any outstanding Certificate, shall be taken as the statements of the Depositor, the Master
Servicer or the Special Servicer, as the case may be, and the Trustee or the Certificate

 

    	-303-

    	 

    

 

Administrator
assume no responsibility for their correctness. Neither the Trustee nor the Certificate Administrator makes any
representations as to the validity or sufficiency of this Agreement or of any Certificate (other than as to the signature, if
any, of the Trustee or the Certificate Administrator set forth thereon) or of any Mortgage Loan or related document. Neither
the Trustee nor the Certificate Administrator shall be accountable for the use or application by the Depositor of any of the
Certificates issued to it or of the proceeds of such Certificates, or for the use or application of any funds paid to the
Depositor in respect of the assignment of the Mortgage Loans to the Trust Fund, or any funds deposited in or withdrawn from
the Certificate Account or any other account by or on behalf of the Depositor, the Master Servicer, the Special Servicer or
in the case of the Trustee, the Certificate Administrator. The Trustee and the Certificate Administrator shall not be
responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other
instrument furnished by the Depositor, the Master Servicer or the Special Servicer and accepted by the Trustee or the
Certificate Administrator, in good faith, pursuant to this Agreement.

 

Section
8.04     Trustee or Certificate Administrator May Own Certificates. The Trustee or the Certificate
Administrator, each in its individual capacity, not as Trustee or Certificate Administrator, may become the owner or pledgee of
Certificates, and may deal with the Depositor, the Master Servicer, the Special Servicer or the Underwriters in banking transactions,
with the same rights it would have if it were not Trustee or the Certificate Administrator.

 

Section
8.05     Fees and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and
Certificate Administrator. (a) As compensation for the performance of their respective duties hereunder, the Trustee will
be paid the Trustee Fee, which shall cover recurring and otherwise reasonably anticipated expenses of the Trustee, and the Certificate
Administrator will be paid the Certificate Administrator Fee equal to the Certificate Administrator’s portion of one month’s
interest at the Certificate Administrator Fee Rate, which shall cover recurring and otherwise reasonably anticipated expenses
of the Certificate Administrator. The Trustee Fee and Certificate Administrator Fee shall be paid monthly on a Mortgage Loan-by-Mortgage
Loan basis. As to each Mortgage Loan and REO Loan (other than the portion of an REO Loan related to any Companion Loan), the Certificate
Administrator shall pay to the Trustee monthly the Trustee Fee from the Certificate Administrator Fee, which Certificate Administrator
Fee shall accrue from time to time at the Certificate Administrator Fee Rate and the Certificate Administrator Fee shall be computed
on the basis of the Stated Principal Balance of such Mortgage Loan, and a 360-day year consisting of twelve 30-day months. The
Trustee Fee (which shall not be limited to any provision of law in regard to the compensation of a trustee of an express trust)
shall constitute the Trustee’s sole form of compensation for all services rendered by it in the execution of the trusts
hereby created and in the exercise and performance of any of the powers and duties of the Trustee hereunder, except for the reimbursement
of expenses specifically provided for herein. The Certificate Administrator Fee shall constitute the Certificate Administrator’s
sole form of compensation for the exercise and performance of its powers and duties hereunder, except for the reimbursement of
expenses specifically provided for herein. No Trustee Fee or Certificate Administrator Fee shall be payable with respect to any
Companion Loan.

 

    	-304-

    	 

    

 

(b)          The
Trustee, the Certificate Administrator (in each case, including in its capacity as Custodian and in its individual capacity) and
any director, officer, employee, representative or agent of the Trustee and the Certificate Administrator, respectively, shall
be entitled to be indemnified and held harmless by the Trust Fund (to the extent of amounts on deposit in the Certificate Account
or the Lower-Tier REMIC Distribution Account, as applicable, from time to time) against any loss, liability or expense (including,
without limitation, costs and expenses of litigation, and of investigation,
counsel fees, damages, judgments and amounts paid in settlement, and expenses incurred in becoming successor master servicer or
successor special servicer, to the extent not otherwise paid hereunder) arising out of, or incurred in connection with, any act
or omission of the Trustee or the Certificate Administrator, respectively, relating to the exercise and performance of any of
the powers and duties of the Trustee or the Certificate Administrator, respectively, hereunder; provided, however,
that none of the Trustee or the Certificate Administrator, nor any of the other above specified Persons shall be entitled to indemnification
pursuant to this Section 8.05(b) for (i) allocable overhead, (ii) expenses or disbursements incurred or made by or on behalf
of the Trustee or the Certificate Administrator, respectively, in the normal course of the Trustee or the Certificate Administrator,
respectively, performing its duties in accordance with any of the provisions hereof, which are not “unanticipated expenses
of the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii), (iii) any expense or liability specifically
required to be borne thereby pursuant to the terms hereof or (iv) any loss, liability or expense incurred by reason of willful
misconduct, bad faith or negligence in the performance of the Trustee’s or the Certificate Administrator’s, respectively,
obligations and duties hereunder, or by reason of negligent disregard of such obligations or duties, or as may arise from a breach
of any representation or warranty of the Trustee specified in Section 8.12 or the Certificate Administrator specified in
Section 8.14, respectively, made herein. The provisions of this Section 8.05(b) shall survive the termination of
this Agreement and any resignation or removal of the Trustee or the Certificate Administrator, respectively, and appointment of
a successor thereto. The foregoing indemnity shall also apply to the Certificate Administrator in its capacities of Custodian,
Certificate Registrar and Authenticating Agent.

 

(c)          The
Certificate Administrator shall indemnify and hold harmless the Depositor and Mortgage Loan Sellers from and against any claims,
losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses
incurred by the Depositor, any Mortgage Loan Seller or its Affiliates that arise out of or are based upon (i) a breach by the
Certificate Administrator, in its capacity as 17g-5 Information Provider or in any other capacity in which the Certificate Administrator
is required to provide information to a Privileged Person that is an NRSRO, of its obligations under this Agreement or (ii) negligence,
bad faith or willful misconduct on the part of the Certificate Administrator, in its capacity as 17g-5 Information Provider or
in any other capacity in which the Certificate Administrator is required to provide information to a Privileged Person that is
an NRSRO, in the performance of such obligations or its negligent disregard of its obligations and duties under this Agreement.

 

Section
8.06     Eligibility Requirements for Trustee and Certificate Administrator. Each of the Trustee
and the Certificate Administrator hereunder shall at all times be, and will be required to resign if it fails to be, (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

 

    	-305-

    	 

    

 

America,
authorized under such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement, having
a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state
authority and in the case of the Trustee, shall not be an Affiliate of the Master Servicer or the Special Servicer (except
during any period when the Trustee is acting as, or has become successor to, the Master Servicer or the Special Servicer, as
the case may be, pursuant to Section 7.02), (ii) an institution insured by the Federal Deposit Insurance Corporation,
(iii) an institution whose long-term senior unsecured debt is rated at least “A2” by Moody’s,
“A” by Fitch and, if rated by Morningstar, a rating by Morningstar at least equivalent to “A2” by
Moody’s; provided that the Trustee will not become ineligible to serve based on a failure to satisfy such rating
requirements as long as it maintains a long-term unsecured debt rating of no less than “Baa2” by Moody’s,
“A-” by Fitch and, if rated by Morningstar, a rating by Morningstar at least equivalent to “Baa2” by
Moody’s and its short-term debt obligations have a short-term rating of not less than “P-2” from
Moody’s, “A-1” by Fitch and, if rated by Morningstar, a rating by Morningstar at least equivalent to
“P-2” by Moody’s and the Master Servicer maintains a rating of at least “A2” by Moody’s,
“A+” by Fitch and, if rated by Morningstar, a rating by Morningstar at least equivalent to “A2” by
Moody’s or such other rating with respect to which the Rating Agencies have provided a Rating Agency Confirmation
and (iv) an entity that is not on the depositor’s “prohibited party” list.

 

If
such corporation, national bank or national banking association publishes reports of condition at least annually, pursuant to
law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 8.06
the combined capital and surplus of such corporation, national bank or national banking association shall be deemed to be
its combined capital and surplus as set forth in its most recent report of condition so published. In the event the place of business
from which the Certificate Administrator administers the Trust REMICs or in which the Trustee’s office is located is in
a state or local jurisdiction that imposes a tax on the Trust Fund on the net income of a REMIC (other than a tax corresponding
to a tax imposed under the REMIC Provisions), the Certificate Administrator or the Trustee, as applicable shall elect either to
(i) resign immediately in the manner and with the effect specified in Section 8.07, (ii) pay such tax at no expense to
the Trust or (iii) administer the Trust REMICs from a state and local jurisdiction that does not impose such a tax.

 

Section
8.07     Resignation and Removal of the Trustee and Certificate Administrator. (a) The Trustee
and the Certificate Administrator may at any time resign and be discharged from the trusts hereby created by giving written notice
thereof to the Depositor, the Master Servicer, the Special Servicer and the Trustee or the Certificate Administrator, as applicable,
the Senior Trust Advisor, 17g-5 Information Provider and to all Certificateholders. The Certificate Administrator shall post such
notice to the Certificate Administrator’s Website in accordance with Section 3.15(b) and provide notice of such event
to the Master Servicer, the Special Servicer, the Depositor and the 17g-5 Information Provider, which shall promptly post such
notice to the 17g-5 Information Provider’s Website in accordance with Section 3.15(c). Upon receiving such notice
of resignation, the Depositor shall use its reasonable best efforts to promptly appoint a successor trustee or Certificate Administrator
acceptable to the Master Servicer and, prior to the occurrence and continuance of a Control Event, the Directing Certificateholder
by written instrument, in duplicate, which instrument shall be delivered to the resigning Trustee or Certificate Administrator
and to the successor trustee or certificate administrator. A copy of such instrument shall be delivered to the Master Servicer,
the Special

 

    	-306-

    	 

    

 

Servicer,
the Certificateholders and the Trustee or Certificate Administrator, as applicable, by the Depositor. If no successor trustee
or certificate administrator shall have been so appointed and have accepted appointment within thirty (30) days after the giving
of such notice of resignation, the resigning Trustee or Certificate Administrator may petition any court of competent jurisdiction
for the appointment of a successor trustee or certificate administrator, as applicable. 

 

(b)          If
at any time the Trustee or Certificate Administrator shall cease to be eligible in accordance with the provisions of Section
8.06 (and in the case of the Certificate Administrator, Section 5.08) and shall fail to resign after written request
therefor by the Depositor or the Master Servicer, or if at any time the Trustee or Certificate Administrator shall become incapable
of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or the Certificate Administrator or of its
property shall be appointed, or any public officer shall take charge or control of the Trustee or Certificate Administrator or
of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or if the Trustee or Certificate Administrator
(if different than the Trustee) shall fail (other than by reason of the failure of either the Master Servicer or the Special Servicer
to timely perform its obligations hereunder or as a result of other circumstances beyond the Trustee’s or Certificate Administrator’s,
as applicable, reasonable control), to timely publish any report to be delivered, published or otherwise made available by the
Certificate Administrator pursuant to Section 4.02 and such failure shall continue unremedied for a period of five (5)
days, or if the Certificate Administrator fails to make distributions required pursuant to Section 4.01 or Section 9.01,
then the Depositor may remove the Trustee or Certificate Administrator, as applicable, and appoint a successor trustee or certificate
administrator acceptable to the Master Servicer, by written instrument, in duplicate, which instrument shall be delivered to the
Trustee or Certificate Administrator so removed and to the successor trustee or certificate administrator in the case of the removal
of the Trustee or Certificate Administrator. A copy of such instrument shall be delivered to the Master Servicer, the Special
Servicer and the Certificateholders by the Depositor.

 

(c)          The
Holders of Certificates entitled to at least 75% of the Voting Rights may at any time remove the Trustee or Certificate Administrator
and appoint a successor trustee or certificate administrator by written instrument or instruments, in triplicate, signed by such
Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Master Servicer,
one complete set to the Trustee or Certificate Administrator so removed and one complete set to the successor so appointed. A
copy of such instrument shall be delivered to the Depositor, the Special Servicer and the remaining Certificateholders by the
Master Servicer. In the event of any such termination without cause pursuant to this Section 8.07(c), the successor trustee
or certificate administrator, as applicable, shall be responsible for all costs and expenses necessary to effect the transfer
of responsibilities from its predecessor.

 

(d)          Any
resignation or removal of the Trustee or Certificate Administrator and appointment of a successor trustee or certificate administrator
pursuant to any of the provisions of this Section 8.07 shall not become effective until (i) acceptance of appointment by
the successor trustee or certificate administrator as provided in Section 8.08 and (ii) the Certificate Administrator shall
have filed any required Form 8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have been completed with
respect to any related Companion Loan.

 

    	-307-

    	 

    

 

If
the same party is acting as Trustee and Certificate Administrator pursuant to this Agreement, any removal of either such
party in its capacity as Trustee or Certificate Administrator, as applicable, shall also result in such party’s removal
in its capacity as Trustee or Certificate Administrator, as applicable, and the Depositor shall appoint a successor
certificate administrator and a successor trustee, in each instance meeting the eligibility requirements set forth
hereunder.

 

Upon
any succession of the Trustee or Certificate Administrator under this Agreement, the predecessor Trustee or Certificate Administrator
shall be entitled to the payment of accrued and unpaid compensation and reimbursement as provided for under this Agreement for
services rendered and expenses incurred (including without limitation, unreimbursed Advances). No Trustee or Certificate Administrator
shall be personally liable for any action or omission of any successor trustee or certificate administrator.

 

(e)          Upon
the resignation, assignment, merger, consolidation, or transfer of the Trustee or its business to a successor, or upon the termination
of the Trustee, (a) the outgoing Trustee shall (i) endorse the original executed Mortgage Note for each Mortgage Loan (to the
extent that the original executed Mortgage Note for each Mortgage Loan was endorsed to the outgoing trustee), without recourse,
representation or warranty, express or implied, to the order of the successor, as trustee for the registered Holders of JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29 or in blank, and
(ii) in the case of the other assignable Mortgage Loan documents (to the extent such other Mortgage Loan documents were assigned
to the outgoing trustee), assign such Mortgage Loan documents to such successor, and such successor shall review the documents
delivered to it or to the Custodian with respect to each Mortgage Loan, and certify in writing that, as to each Mortgage Loan
then subject to this Agreement, such endorsement and assignment has been made; (b) if any original executed Mortgage Note for
a Mortgage Loan was not endorsed to the outgoing trustee, the Custodian shall, upon its receipt of a Request for Release, deliver
such Mortgage Note to the Depositor or the successor trustee, as requested, and the Master Servicer and the Depositor shall cooperate
with any successor Trustee to ensure that such Mortgage Note is endorsed (without recourse, representation or warranty, express
or implied) to the order of the successor, as trustee for the registered Holders of JPMBB Commercial Mortgage Securities Trust
2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29 or in blank; provided, however, that, notwithstanding
anything to the contrary herein, to the extent any such endorsement of such Mortgage Note requires the signature of the related
Mortgage Loan Seller in order to comply with the foregoing, then the Master Servicer shall use reasonable efforts to cause the
related Mortgage Loan Seller to execute such endorsement; (c) if any other assignable Mortgage Loan document was not assigned
to the outgoing trustee, the Custodian shall, upon its receipt of a Request for Release, deliver such Mortgage Loan document to
the Depositor or the successor trustee, as requested, and the Master Servicer and the Depositor shall cooperate with any successor
Trustee to ensure that such Mortgage Loan document is assigned to such successor Trustee; and (d) in any case, such successor
Trustee shall review the documents delivered to it or to the Custodian with respect to each Mortgage Loan, and certify in writing
that, as to each Mortgage Loan then subject to this Agreement, such endorsements and assignments have been made or, in the event
such endorsement or assignment cannot be made for any reason, to note the same in such certification.

 

    	-308-

    	 

    

 

Section
8.08     Successor Trustee or Certificate Administrator. (a) Any successor trustee or certificate
administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Master
Servicer, the Special Servicer and to its predecessor Trustee or Certificate Administrator an instrument accepting such appointment
hereunder, and thereupon the resignation or removal of the predecessor Trustee or Certificate Administrator shall become effective
and such successor trustee or certificate administrator without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named
as Trustee or Certificate Administrator herein. The predecessor Trustee shall deliver to the successor trustee all Mortgage Files
and related documents and statements held by it hereunder (other than any Mortgage Files at the time held on its behalf by a Custodian,
which Custodian, at Custodian’s option shall become the agent of the successor trustee), and the Depositor, the Master Servicer,
the Special Servicer and the predecessor Trustee shall execute and deliver such instruments and do such other things as may reasonably
be required to more fully and certainly vest and confirm in the successor trustee all such rights, powers, duties and obligations,
and to enable the successor trustee to perform its obligations hereunder.

(b)          No
successor trustee or successor certificate administrator shall, as applicable, accept appointment as provided in this Section
8.08 unless at the time of such acceptance such successor trustee or successor certificate administrator, as applicable, shall
be eligible under the provisions of Section 8.06.

 

(c)          Upon
acceptance of appointment by a successor trustee or successor certificate administrator as provided in this Section 8.08,
the Master Servicer shall deliver notice of the succession of such Trustee or Certificate Administrator, as applicable, to the
Depositor and the Certificateholders. If the Master Servicer fails to deliver such notice within ten (10) days after acceptance
of appointment by the successor trustee or successor certificate administrator, as applicable, such successor trustee or successor
certificate administrator shall cause such notice to be delivered at the expense of the Master Servicer.

 

Section
8.09     Merger or Consolidation of Trustee or Certificate Administrator. Any Person into which
the Trustee or the Certificate Administrator may be merged or converted or with which it may be consolidated or any Person resulting
from any merger, conversion or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person
succeeding to all or substantially all of the corporate trust business of the Trustee or the Certificate Administrator shall be
the successor of the Trustee or the Certificate Administrator, as applicable, hereunder; provided that, in the case of
the Trustee, such successor person shall be eligible under the provisions of Section 8.06, without the execution or filing
of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. The
Certificate Administrator shall post such notice to the Certificate Administrator’s Website in accordance with Section
3.15(b) and shall provide notice of such event to the Master Servicer, the Special Servicer, the Depositor and the 17g-5 Information
Provider, which shall post such notice to the 17g-5 Information Provider’s Website in accordance with Section 3.15(c).

 

Section
8.10     Appointment of Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions
hereof, at any time, for the purpose of meeting any

 

    	-309-

    	 

    

 

legal
requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at the time be located,
the Master Servicer and the Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint
one or more Persons approved by the Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or separate trustee
or separate trustees, of all or any part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title
to the Trust Fund, or any part thereof, and, subject to the other provisions of this Section 8.10, such powers, duties,
obligations, rights and trusts as the Master Servicer and the Trustee may consider necessary or desirable. If the Master Servicer
shall not have joined in such appointment within fifteen (15) days after the receipt by it of a request to do so, or in case a
Servicer Termination Event shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment.
No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section
8.06 hereunder and no notice to Holders of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be
required under Section 8.08 hereof. All co-trustee fees shall be payable out of the Trust Fund.

 

(b)          In
the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10, all rights, powers, duties
and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee
and such separate trustee or co-trustee jointly, except to the extent that under any law of any jurisdiction in which any particular
act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer or the Special Servicer hereunder),
the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Fund or any portion thereof in any such jurisdiction) shall be exercised and performed
by such separate trustee or co-trustee at the direction of the Trustee.

 

(c)          Any
notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then-separate trustees
and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall
refer to this Agreement and the conditions of this Article VIII. Each separate trustee and co-trustee, upon its acceptance
of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly
with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including
every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Trustee.
Every such instrument shall be filed with the Trustee.

 

(d)          Any
separate trustee or co-trustee may, at any time, constitute the Trustee, its agent or attorney-in-fact, with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.
If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties,
rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment
of a new or successor trustee.

 

(e)          The
appointment of a co-trustee or separate trustee under this Section 8.10 shall not relieve the Trustee of its duties and
responsibilities hereunder.

 

    	-310-

    	 

    

 

Section
8.11     Appointment of Custodians. The Certificate Administrator is hereby appointed as the Custodian
to hold all or a portion of the Mortgage Files. The Custodian shall be a depository institution subject to supervision by federal
or state authority, shall have combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the
jurisdiction in which it holds any Mortgage File. The Custodian shall be subject to the same obligations and standard of care
as would be imposed on the Certificate Administrator hereunder in connection with the retention of Mortgage Files directly by
the Certificate Administrator. Upon termination or resignation of the Custodian, the Certificate Administrator may appoint another
Custodian meeting the foregoing requirements. The appointment of one or more Custodians by the Certificate Administrator shall
not relieve the Certificate Administrator from any of its obligations hereunder, and the Certificate Administrator shall remain
responsible for all acts and omissions of any Custodian other than the initial Custodian. Any Custodian appointed hereunder must
maintain a fidelity bond and errors and omissions policy in an amount customary for Custodians which serve in such capacity in
commercial mortgage loan securitization transactions, or may self-insure.

 

Section
8.12     Representations and Warranties of the Trustee. The Trustee hereby represents and warrants
to the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor, each Serviced Companion Noteholder and
the Certificate Administrator for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)           The
Trustee is a national banking association, duly organized, validly existing and in good standing under the laws of the United
States of America;

 

(ii)          The
execution and delivery of this Agreement by the Trustee, and the performance and compliance with the terms of this Agreement by
the Trustee, will not violate the Trustee’s charter and by-laws or constitute a default (or an event which, with notice
or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument
to which it is a party or which is applicable to it or any of its assets;

 

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

 

(iv)         This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal
and binding obligation of the Trustee, enforceable against the Trustee in accordance with the terms hereof, subject to (a) applicable
bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally
and the rights of creditors of national banking associations specifically and (b) general principles of equity, regardless of
whether such enforcement is considered in a proceeding in equity or at law;

 

(v)          The
Trustee is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms
of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any

 

    	-311-

    	 

    

 

order,
regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Trustee’s
good faith and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations
under this Agreement;

  

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

 

(vii)        No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Trustee, or compliance by the Trustee with, this Agreement or the consummation of the transactions contemplated
by this Agreement, except for any consent, approval, authorization or order which has not been obtained or cannot be obtained
prior to the actual performance by the Trustee of its obligations under this Agreement, and which, if not obtained would not have
a materially adverse effect on the ability of the Trustee to perform its obligations hereunder.

 

Section
8.13     Provision of Information to Certificate Administrator, Master Servicer and Special Servicer.

 

The
Master Servicer shall promptly, upon request, provide the Special Servicer and the Certificate Administrator with notice of any
change in the identity and/or contact information of any Serviced Companion Noteholder (to the extent it receives written notice
of such change). The Certificate Administrator, Master Servicer and Special Servicer may each conclusively rely on the information
provided to them regarding identity and/or contact information regarding any Serviced Companion Noteholder, and the Certificate
Administrator, Master Servicer and Special Servicer, as applicable, shall have no liability for notices not sent to the correct
Serviced Companion Noteholders or any obligation to determine the identity and/or contact information of the Serviced Companion
Noteholders to the extent updated or correct information regarding the holders of any of the Serviced Companion Noteholders or
the most recent identity and/or contact information regarding any of the Serviced Companion Noteholders has not been provided
to the Certificate Administrator, Master Servicer or Special Servicer, as applicable.

 

Section
8.14     Representations and Warranties of the Certificate Administrator. The Certificate Administrator
hereby represents and warrants to the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor, each Serviced
Companion Noteholder, and the Trustee, for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)           The
Certificate Administrator is a national banking association duly organized under the laws of the United States of America, duly
organized, validly existing and in good standing under the laws thereof;

 

    	-312-

    	 

    

 

(ii)          The
execution and delivery of this Agreement by the Certificate Administrator, and the performance and compliance with the terms of
this Agreement by the Certificate Administrator, will not violate the Certificate Administrator’s charter and by-laws or
constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in
the breach of, any material agreement or other instrument to which it is a party or which is applicable to it or any of its assets; 

 

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

 

(iv)         This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal
and binding obligation of the Certificate Administrator, enforceable against the Certificate Administrator in accordance with
the terms hereof, subject to (a) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement
of creditors’ rights generally and the rights of creditors of national banking associations specifically and (b) general
principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)          The
Certificate Administrator is not in violation of, and its execution and delivery of this Agreement and its performance and compliance
with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or
any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Certificate
Administrator’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the
Certificate Administrator to perform its obligations under this Agreement or the financial condition of the Certificate Administrator;

 

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

 

(vii)        No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Certificate Administrator, or compliance by the Certificate Administrator with, this Agreement or the consummation
of the transactions contemplated by this Agreement, except for any consent, approval, authorization or order which has not been
obtained or cannot be obtained prior to the actual performance by the Certificate Administrator of its obligations under this
Agreement, and which, if not obtained would not have a materially adverse effect on the ability of the Certificate Administrator
to perform its obligations hereunder.

 

    	-313-

    	 

    

 

Section
8.15     Compliance with the Patriot Act. In order to comply with the laws, rules, regulations
and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of
terrorist activities and money laundering (“Applicable Laws”), each of the Trustee, the Certificate Administrator,
the Special Servicer and the Master Servicer is required to obtain, verify and record certain information relating to individuals
and entities which maintain a business relationship with the Trustee, the Certificate Administrator, the Special Servicer or the
Master Servicer, as applicable. Accordingly, each of the parties
to this Agreement agrees to provide to the Trustee, the Certificate Administrator, the Special Servicer and the Master Servicer,
upon its respective reasonable request from time to time such identifying information and documentation as may be available for
such party in order to enable the Trustee, the Certificate Administrator, the Special Servicer and the Master Servicer to comply
with Applicable Laws.

 

[End
of Article VIII]

 

Article
IX

TERMINATION

 

Section
9.01     Termination upon Repurchase or Liquidation of All Mortgage Loans. Subject to this Section
9.01 and Section 9.02, the Trust Fund and the respective obligations and responsibilities under this Agreement of the
Certificate Administrator (other than the obligations of the Certificate Administrator to provide for and make payments to Certificateholders
as hereafter set forth), the Depositor, the Master Servicer, the Special Servicer, the Senior Trust Advisor, and the Trustee,
shall terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by the Certificate Administrator
and required hereunder to be so paid on the Distribution Date following the earlier to occur of (i) the final payment (or related
Advance) or other liquidation of the last Mortgage Loan and REO Property (as applicable) subject hereto, (ii) the purchase or
other liquidation by the Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders
of the Class R Certificates, in that order of priority, of all the Mortgage Loans) and the Trust Fund’s portion of each
REO Property) remaining in the Trust Fund at a price equal to (a) the sum of (1) the aggregate Purchase Price of all the Mortgage
Loans (exclusive of REO Loans) included in the Trust Fund, (2) the Appraised Value of the Trust Fund’s portion of each REO
Property, if any, included in the Trust Fund (such Appraisals in clause (a)(2) to be conducted by an Independent MAI-designated
appraiser selected by the Master Servicer, and approved by more than 50% of the Voting Rights of the Classes of Certificates then
outstanding (other than the Controlling Class unless the Controlling Class is the only Class of Certificates then outstanding))
(which approval shall be deemed given unless more than 50% of such Certificateholders object within twenty (20) days of receipt
of notice thereof), (3) the reasonable out-of-pocket expenses of the Master Servicer with respect to such termination, unless
the Master Servicer is the purchaser of such Mortgage Loans and (4) if a Mortgaged Property secures a Non-Serviced Mortgage Loan
and is an “REO property” under the terms of the related Non-Serviced Pooling Agreement, the pro rata portion
of the fair market value of the related Mortgaged Property, as determined by the related Non-Serviced Master Servicer in accordance
with clauses (2) and (3) above, minus (b) solely in the case where the Master Servicer is exercising such purchase right,

 

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the
aggregate amount of unreimbursed Advances, together with any interest accrued and payable to the Master Servicer in respect of
such Advances in accordance with Sections 3.03(d) and 4.03(d) and any unpaid Servicing Fees, remaining outstanding
and payable solely to the Master Servicer (which items shall be deemed to have been paid or reimbursed to the Master Servicer
in connection with such purchase) or (iii) so long as the Class A, Class B, Class C, Class EC and Class D Certificates are no
longer outstanding, the voluntary exchange by the Sole Certificateholder of all the outstanding Certificates (other than the Class
R Certificates) for the remaining Mortgage Loans and REO Properties
in the Trust Fund pursuant to the terms of the immediately succeeding paragraph; provided, however, that in no event
shall the trust created hereby continue beyond the expiration of twenty-one (21) years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on the
date hereof.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class C, Class
D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting in unanimity)
of the then outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall have the right,
with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates) for all of
the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (iii) of the first paragraph
of this Section 9.01 by giving written notice to all the parties hereto no later than sixty (60) days prior to the anticipated
date of exchange. In the event that the Sole Certificateholder elects to exchange all of its Certificates (other than the Class
R Certificates) for all of the Mortgage Loans and the Trust Fund’s portion of each REO Property remaining in the Trust in
accordance with the preceding sentence, such Sole Certificateholder, not later than the Distribution Date on which the final distribution
on the Certificates is to occur, shall deposit in the Certificate Account an amount in immediately available funds equal to all
amounts due and owing to the Depositor, the Master Servicer, the Special Servicer, the Trustee and the Certificate Administrator
hereunder through the date of the liquidation of the Trust Fund that may be withdrawn from the Certificate Account, or an escrow
account acceptable to the respective parties hereto, pursuant to Section 3.05(a) or that may be withdrawn from the Distribution
Account pursuant to Section 3.05(a), but only to the extent that such amounts are not already on deposit in the Certificate
Account. In addition, the Master Servicer shall transfer all amounts required to be transferred to the Lower-Tier REMIC Distribution
Account on the P&I Advance Date related to such Distribution Date in which the final distribution on the Certificates is to
occur from the Certificate Account pursuant to the first paragraph of Section 3.04(b) (provided, however,
that if a Serviced Whole Loan is secured by REO Property, the portion of the above-described purchase price allocable to such
Trust Fund’s portion of REO Property shall initially be deposited into the related REO Account). Upon confirmation that
such final deposits have been made and following the surrender of all its Certificates (other than the Class R Certificates) on
the final Distribution Date, the Custodian shall, upon receipt of a Request for Release from the Master Servicer, release or cause
to be released to the Sole Certificateholder or any designee thereof, the Mortgage Files for the remaining Mortgage Loans and
shall execute all assignments, endorsements and other instruments furnished to it by the Sole Certificateholder as shall be necessary
to effectuate transfer of the Mortgage Loans and REO Properties remaining in the Trust Fund, and the Trust Fund shall be liquidated
in accordance with Section 9.02. Solely for federal income tax purposes, the Sole Certificateholder shall be deemed to
have purchased the

 

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assets
of the Lower-Tier REMIC for an amount equal to the remaining Certificate Balance of the Principal Balance Certificates, plus accrued,
unpaid interest with respect thereto, and the Certificate Administrator shall credit such amounts against amounts distributable
in respect of such Certificates and Related Uncertificated Lower-Tier Interests.

 

The
obligations and responsibilities under this Agreement of the Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Administrator and the Companion Paying Agent shall terminate with respect to any Companion Loan to
the extent (i) its related Serviced Mortgage Loan has been paid in full or is no longer part of the Trust Fund and (ii) no
amounts payable by the related Companion Holder to or for the benefit of the Trust or any party hereto in accordance with the
related Intercreditor Agreement remain due and owing.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates,
in that order of priority, may, at their option, elect to purchase all of the Mortgage Loans (and all property acquired through
exercise of remedies in respect of any related Mortgage Loan) and the Trust Fund’s portion of each REO Property remaining
in the Trust Fund as contemplated by clause (ii) of the first paragraph of this Section 9.01 by giving written notice
to the Trustee, the Certificate Administrator, and the other parties hereto no later than sixty (60) days prior to the anticipated
date of purchase; provided, however, that the Holders of the Controlling Class, the Special Servicer, the Master
Servicer, or the Holders of the Class R Certificates may so elect to purchase all of the Mortgage Loans and the Trust Fund’s
portion of each REO Property remaining in the Trust Fund only on or after the first Distribution Date on which the aggregate Stated
Principal Balances of the Mortgage Loans and the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less
than the greater of (i) 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Preliminary
Statement or (ii) the product of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance
of the Bridgeway Business Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year
anniversary from the start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Preliminary Statement and (y) the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in
the Preliminary Statement; provided, however, that this termination right shall not be exercisable at the percentage
threshold specified in clause (ii) above prior to the Distribution Date in June 2025. In the event that the Master Servicer or
the Special Servicer purchases, or the Holders of the majority of the Controlling Class or the Holders of the Class R Certificates
purchase, all of the Mortgage Loans and the Trust Fund’s portion of each REO Property remaining in the Trust Fund in accordance
with the preceding sentence, the Master Servicer, the Special Servicer, the Holders of the majority of the Controlling Class or
the Holders of the Class R Certificates, as applicable, shall deposit in the Lower-Tier REMIC Distribution Account not later than
the P&I Advance Date relating to the Distribution Date on which the final distribution on the Certificates is to occur, an
amount in immediately available funds equal to the above-described purchase price (exclusive of any portion thereof payable to
any Person other than the Certificateholders pursuant to Section 3.05(a), which portion shall be deposited in the Certificate
Account). In addition, the Master Servicer shall transfer to the Lower-Tier REMIC Distribution Account all amounts required to
be transferred thereto on such P&I Advance Date from the Certificate Account pursuant to the first paragraph of Section
3.04(b), together with any other amounts on deposit in the Certificate Account that would otherwise be held for future distribution.
Upon confirmation

 

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that
such final deposits and payments have been made, the Custodian shall release or cause to be released to the Master Servicer, the
Special Servicer, the Holders of the majority of the Controlling Class or the Holders of the Class R Certificates, as applicable,
the Mortgage Files for the remaining Mortgage Loans and shall execute all assignments, endorsements and other instruments furnished
to it by the Master Servicer, the Special Servicer, the Holders of the majority of the Controlling Class or the Holders of the
Class R Certificates, as applicable, as shall be necessary to effectuate
transfer of the Mortgage Loans and REO Properties remaining in the Trust Fund.

 

For
purposes of this Section 9.01, the Holders of the majority of the Controlling Class shall have the first option to terminate
the Trust Fund, then the Special Servicer, then the Master Servicer, and then the Holders of the Class R Certificates. For purposes
of this Section 9.01, the Directing Certificateholder with the consent of the Holders of the Controlling Class, shall act
on behalf of the Holders of the Controlling Class in purchasing the assets of the Trust Fund and terminating the Trust.

 

Notice
of any termination pursuant to this Section 9.01 shall be given promptly by the Certificate Administrator by letter to
the Certificateholders, each Serviced Companion Noteholder and the 17g-5 Information Provider in accordance with the provisions
of Section 3.15(c) (who shall promptly post a copy of such additional notice on the 17g-5 Information Provider’s
Website in accordance with the provisions of Section 3.15(c)) and, if not previously notified pursuant to this Section
9.01, to the other parties hereto mailed (a) in the event such notice is given in connection with the purchase of all of the
Mortgage Loans and each REO Property remaining in the Trust Fund, not earlier than the 15th day and not later than the 25th day
of the month next preceding the month of the final distribution on the Certificates, or (b) otherwise during the month of such
final distribution on or before the P&I Advance Determination Date in such month, in each case specifying (i) the Distribution
Date upon which the Trust Fund will terminate and final payment of the Certificates will be made, (ii) the amount of any such
final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being
made only upon presentation and surrender of the Certificates at the offices of the Certificate Registrar or such other location
therein designated.

 

After
transferring the Lower-Tier Distribution Amount and the amount of any Yield Maintenance Charges distributable to the Regular Certificates
pursuant to Section 4.01(d) to the Upper-Tier REMIC Distribution Account in each case pursuant to Section 3.04(b)
and upon presentation and surrender of the Certificates by the Certificateholders on the final Distribution Date, the Certificate
Administrator shall distribute to each Certificateholder so presenting and surrendering its Certificates (i) such Certificateholder’s
Percentage Interest of that portion of the amounts then on deposit in the Upper-Tier REMIC Distribution Account or the Class EC
Distribution Account, as applicable, that are allocable to payments on the Class of Regular Certificates so presented, (ii) any
remaining amounts of Yield Maintenance Charges distributable to the Class X-B Certificates pursuant to Section 4.01(d)
and (iii) any remaining amount shall be distributed to the Class R Certificates in respect of the Class LR Interest or the Class
UR Interest, as applicable. Amounts transferred from the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution
Account as of the final Distribution Date, shall be distributed in termination and liquidation of the Uncertificated Lower-Tier
Interests and the

 

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Class
LR Interest in accordance with Sections 4.01(a), 4.01(b), 4.01(c), 4.01(d) and 4.01(k). Any
funds not distributed on such Distribution Date shall be set aside and held uninvested in trust for the benefit of the Certificateholders
not presenting and surrendering their Certificates in the aforesaid manner and shall be disposed of in accordance with this Section
9.01 and Section 4.01(h). 

 

Section
9.02     Additional Termination Requirements. (a) In the event the Master Servicer or the Special
Servicer purchases, or the Holders of the Controlling Class or the Holders of the Class R Certificates purchase, all of the Mortgage
Loans and the Trust Fund’s portion of each REO Property remaining in the Trust Fund as provided in Section 9.01,
the Trust Fund shall be terminated in accordance with the following additional requirements, which meet the definition of a “qualified
liquidation” in Section 860F(a)(4) of the Code:

 

(i)           the
Certificate Administrator shall specify the date of adoption of the plan of complete liquidation (which shall be the date of mailing
of the notice specified in Section 9.01) in a statement attached to each of the related Trust REMICs’ final Tax Returns
pursuant to Treasury Regulations Section 1.860F-1;

 

(ii)          during
the 90-day liquidation period and at or prior to the time of the making of the final payment on the Certificates, the Certificate
Administrator on behalf of the Trustee shall sell all of the assets of the related Trust REMICs to the Master Servicer, the Special
Servicer, the Holders of the Controlling Class or the Holders of the Class R Certificates, as applicable, for cash; and

 

(iii)         within
such 90-day liquidation period and immediately following the making of the final payment on the Uncertificated Lower-Tier Interests
and the Certificates, the Certificate Administrator shall distribute or credit, or cause to be distributed or credited, to the
Holders of the Class R Certificates in respect of the Class LR Interest (in the case of the Lower-Tier REMIC) and in respect of
the Class UR Interest (in the case of the Upper-Tier REMIC) all cash on hand (other than cash retained to meet claims), and the
Trust Fund (if applicable) or the related Trust REMIC(s) shall terminate at that time.

 

[End
of Article IX]

 

Article
X

ADDITIONAL REMIC PROVISIONS

 

Section
10.01    REMIC Administration. (a) The Certificate Administrator shall make elections or cause elections
to be made to treat each Trust REMIC as a REMIC under the Code and, if necessary, under Applicable State and Local Tax Law. Each
such election will be made on Form 1066 or other appropriate federal tax return for the taxable year ending on the last day of
the calendar year in which the Uncertificated Lower-Tier Interests and the Certificates are issued. For the purposes of the REMIC
election in respect of the Upper-Tier REMIC, each Class of the Regular Certificates shall be designated as the “regular
interests” (or in the case of an exchange and conversion of Class A-S, Class B and Class C Certificates for Class EC

 

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Certificates,
such “regular interests” shall be deemed to be held by the Trustee in uncertificated form unless reconverted to Class
A-S, Class B and Class C Certificates) and the Class UR Interest shall be designated as the sole class of “residual interests”
in the Upper-Tier REMIC. For purposes of the REMIC election in respect of the Lower-Tier REMIC, each Class of Uncertificated Lower-Tier
Interests shall be designated as a class of “regular interests” and the Class LR Interest shall be designated as the
sole class of “residual interests” in the Lower-Tier REMIC.
None of the Special Servicer, the Master Servicer nor the Trustee shall permit the creation of any “interests” (within
the meaning of Section 860G of the Code) in any Trust REMIC other than the foregoing interests.

 

(b)          The
Closing Date is hereby designated as the “startup day” of each Trust REMIC within the meaning of Section 860G(a)(9)
of the Code.

 

(c)          The
Certificate Administrator shall act on behalf of each Trust REMIC in relation to any tax matter or controversy involving either
such REMIC and shall represent each such REMIC in any administrative or judicial proceeding relating to an examination or audit
by any governmental taxing authority with respect thereto. The legal expenses, including without limitation attorneys’ or
accountants’ fees, and costs of any such proceeding and any liability resulting therefrom shall be expenses of the Trust
Fund and the Certificate Administrator shall be entitled to reimbursement therefor out of amounts attributable to the Mortgage
Loans and any REO Properties on deposit in the Certificate Account as provided by Section 3.05(a) unless such legal expenses
and costs are incurred by reason of the Certificate Administrator’s willful misconduct, bad faith or negligence. The Holder
of the largest Percentage Interest in the Class R Certificates shall be designated, in the manner provided under Treasury Regulations
Section 1.860F-4(d) and temporary Treasury Regulations Section 301.6231(a)(7)-1T, as the “tax matters person” of each
Trust REMIC. By their acceptance thereof, the Holders of the largest Percentage Interest in the Class R Certificates hereby agrees
to irrevocably appoint the Certificate Administrator as their agent to perform all of the duties of the “tax matters person”
for the Trust REMICs.

 

(d)          The
Certificate Administrator shall prepare or cause to be prepared and shall file, or cause to be filed, all of the Tax Returns that
it determines are required with respect to each Trust REMIC created hereunder, and shall cause the Trustee to sign (and the Trustee
shall timely sign) such Tax Returns in a timely manner. The ordinary expenses of preparing such returns shall be borne by the
Certificate Administrator without any right of reimbursement therefor.

 

(e)          The
Certificate Administrator shall provide or cause to be provided (i) to any Transferor of a Class R Certificate such information
as is necessary for the application of any tax relating to the transfer of such Class R Certificate to any Person who is a Disqualified
Organization, or in the case of a Transfer to an agent thereof, to such agent, (ii) to the Certificateholders such information
or reports as are required by the Code or the REMIC Provisions including reports relating to interest, original issue discount
and market discount or premium (using the Prepayment Assumption) and (iii) to the Internal Revenue Service on Form 8811, within
thirty (30) days after the Closing Date, the name, title, address and telephone number of the “tax matters person”
who will serve as the representative of each of the Trust REMICs created hereunder.

 

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(f)          The
Certificate Administrator shall take such actions and shall cause the Trust Fund to take such actions as are reasonably within
the Certificate Administrator’s control and the scope of its duties more specifically set forth herein as shall be necessary
to maintain the status of each Trust REMIC as a REMIC under the REMIC Provisions and the Trustee shall assist the Certificate
Administrator to the extent reasonably requested by the Certificate Administrator to do so. Neither the Master Servicer nor the
Special Servicer shall knowingly or intentionally take any action, cause the Trust Fund to take any action or fail to take (or
fail to cause to be taken) any action reasonably within its control and the scope of duties more specifically set forth herein,
that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of any Trust REMIC
as a REMIC or (ii) result in the imposition of a tax upon any Trust REMIC or the Trust Fund (including but not limited to the
tax on “prohibited transactions” as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC
set forth in Section 860G(d) of the Code, but not including the tax on “net income from foreclosure property”) (either
such event, an “Adverse REMIC Event”) unless the Certificate Administrator receives an Opinion of Counsel (at
the expense of the party seeking to take such action or, if such party fails to pay such expense, and the Certificate Administrator
determines that taking such action is in the best interest of the Trust Fund and the Certificateholders, at the expense of the
Trust Fund, but in no event at the expense of the Certificate Administrator or the Trustee) to the effect that the contemplated
action will not, with respect to the Trust Fund, any Trust REMIC created hereunder, endanger such status or, unless the Certificate
Administrator determines in its sole discretion to indemnify the Trust Fund against such tax, result in the imposition of such
a tax (not including a tax on “net income from foreclosure property”). The Trustee shall not take or fail to take
any action (whether or not authorized hereunder) as to which the Certificate Administrator has advised it in writing that it has
received an Opinion of Counsel to the effect that an Adverse REMIC Event could occur with respect to such action. The Certificate
Administrator may consult with counsel to make such written advice, and the cost of same shall be borne by the party seeking to
take the action not expressly permitted by this Agreement, but in no event at the expense of the Certificate Administrator or
the Trustee. At all times as may be required by the Code, the Certificate Administrator will to the extent within its control
and the scope of its duties more specifically set forth herein, maintain substantially all of the assets of each Trust REMIC as
“qualified mortgages” as defined in Section 860G(a)(3) of the Code and “permitted investments” as defined
in Section 860G(a)(5) of the Code.

 

(g)          In
the event that any applicable federal, state or local tax, including interest, penalties or assessments, additional amounts or
additions to tax, is imposed on any Trust REMIC, such tax shall be charged against amounts otherwise distributable to the Holders
of the Certificates, except as provided in the last sentence of this Section 10.01(g); provided that with respect
to the estimated amount of tax imposed on any “net income from foreclosure property” pursuant to Section 860G(c) of
the Code or any similar tax imposed by a state or local tax authority, the Special Servicer shall retain in the related REO Account
a reserve for the payment of such taxes in such amounts and at such times as it shall deem appropriate (or as advised by the Certificate
Administrator in writing), and shall remit to the Master Servicer such reserved amounts as the Master Servicer shall request in
order to pay such taxes. Except as provided in the preceding sentence, the Master Servicer shall withdraw from the Certificate
Account sufficient funds to pay or provide for the payment of, and to actually pay, such tax as is estimated to be legally owed
by any Trust REMIC (but such authorization shall not prevent the Certificate

 

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Administrator
from contesting, at the expense of the Trust Fund (other than as a consequence of a breach of its obligations under this
Agreement), any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the
outcome of such proceedings). The Certificate Administrator is hereby authorized to and shall segregate, into a separate
non-interest bearing account, the net income from any “prohibited transaction” under Section 860F(a) of the Code
or the amount of any taxable contribution to any Trust REMIC after the Startup Day that is subject to tax under Section
860G(d) of the Code and use such income or amount, to the extent necessary, to pay such prohibited transactions tax. To the
extent that any such tax (other than any such tax paid in respect of “net income from foreclosure property”) is
paid to the Internal Revenue Service or applicable state or local tax authorities, the Certificate Administrator shall retain
an equal amount from future amounts otherwise distributable to the Holders of Class R Certificates (as applicable) and shall
distribute such retained amounts, (x) in the case of the Uncertificated Lower-Tier Interests, to the Upper-Tier REMIC to the
extent they are fully reimbursed for any Collateral Support Deficit arising therefrom and then to the Holders of the Class R
Certificates in respect of the Class LR Interest in the manner specified in Section 4.01(b) and (y) in the case of the
Upper-Tier REMIC, to the Holders of the Principal Balance Certificates (without regard to any exchange and conversion of the
Exchangeable Certificates for Class EC Certificates) in the manner specified in Section 4.01(a), to the extent they
are fully reimbursed for any Collateral Support Deficit arising therefrom and then to the Holders of the Class R Certificates
in respect of the Class UR Interest. None of the Trustee, the Certificate Administrator, the Master Servicer or the Special
Servicer shall be responsible for any taxes imposed on any Trust REMIC except to the extent such taxes arise as a consequence
of a breach of their respective obligations under this Agreement which breach constitutes willful misconduct, bad faith, or
negligence by such party.

 

(h)          The
Certificate Administrator shall, for federal income tax purposes, maintain or cause to be maintained books and records with respect
to each Trust REMIC on a calendar year and on an accrual basis or as otherwise may be required by the REMIC Provisions.

 

(i)          Following
the Startup Day, neither the Certificate Administrator nor the Trustee shall accept any contributions of assets to any Trust REMIC
unless the Certificate Administrator and the Trustee shall have received an Opinion of Counsel (at the expense of the party seeking
to make such contribution) to the effect that the inclusion of such assets in such Trust REMIC will not (i) cause such Trust REMIC
to fail to qualify as a REMIC at any time that any Uncertificated Lower-Tier Interests or Certificates are outstanding or (ii)
subject any of the Trust Fund or any Trust REMIC to any tax under the REMIC Provisions or other applicable provisions of federal,
state and local law or ordinances.

 

(j)          Neither
the Certificate Administrator nor the Trustee shall enter into any arrangement by which the Trust Fund or any Trust REMIC will
receive a fee or other compensation for services nor permit the Trust Fund or any Trust REMIC to receive any income from assets
other than “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted investments”
as defined in Section 860G(a)(5) of the Code.

 

(k)          Solely
for the purposes of Treasury Regulations Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” by which
the Certificate Balance or Notional Amount of each Class of Regular Certificates representing a “regular interest”
in the

 

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Upper-Tier
REMIC and by which the Lower-Tier Principal Amount of each Class of Uncertificated Lower-Tier Interests representing a “regular
interest” in the Lower-Tier REMIC would be reduced to zero is the date that is the Rated Final Distribution Date.

 

(l)          None
of the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, shall sell, dispose
of or substitute for any of the Mortgage Loans (except in connection with (i) the default, imminent default or foreclosure of
a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by foreclosure or deed
in lieu of foreclosure, (ii) the bankruptcy of the Trust Fund, (iii) the termination of the Trust Fund pursuant to Article
IX of this Agreement or (iv) a purchase of Mortgage Loans pursuant to Article II or Article III of this Agreement)
or acquire any assets for the Trust Fund or any Trust REMIC or sell or dispose of any investments in the Certificate Account or
the REO Account for gain unless it has received an Opinion of Counsel that such sale, disposition or substitution will not (a)
affect adversely the status of any Trust REMIC as a REMIC or (b) unless the Trustee, the Certificate Administrator, the Master
Servicer or the Special Servicer, as applicable, has determined in its sole discretion to indemnify the Trust Fund against such
tax, cause the Trust Fund or any Trust REMIC to be subject to a tax on “prohibited transactions” pursuant to the REMIC
Provisions.

 

Section
10.02     Use of Agents. (a) The Trustee shall execute all of its obligations and duties under
this Article X through its Corporate Trust Office. The Trustee may execute any of its obligations and duties under this
Article X either directly or by or through agents or attorneys. The Trustee shall not be relieved of any of its duties
or obligations under this Article X by virtue of the appointment of any such agents or attorneys.

 

(b)          The
Certificate Administrator may execute any of its obligations and duties under this Article X either directly or by or through
agents or attorneys. The Certificate Administrator shall not be relieved of any of its duties or obligations under this Article
X by virtue of the appointment of any such agents or attorneys.

 

Section
10.03     Depositor, Master Servicer and Special Servicer to Cooperate with Certificate Administrator.
(a) The Depositor shall provide or cause to be provided to the Certificate Administrator within ten (10) days after the Depositor
receives a request from the Certificate Administrator, all information or data that the Certificate Administrator reasonably determines
to be relevant for tax purposes as to the valuations and issue prices of the Certificates, including, without limitation, the
price, yield, Prepayment Assumptions and projected cash flow of the Certificates.

 

(b)          The
Master Servicer and the Special Servicer shall each furnish such reports, certifications and information, and upon reasonable
notice and during normal business hours, access to such books and records maintained thereby, as may relate to the Certificates
or the Trust Fund and as shall be reasonably requested by the Certificate Administrator in order to enable it to perform its duties
hereunder.

 

Section
10.04     Appointment of REMIC Administrators. (a) The Certificate Administrator may appoint at
the Certificate Administrator’s expense, one or more REMIC Administrators, which shall be authorized to act on behalf of
the Certificate Administrator in

 

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performing
the functions set forth in Section 10.01 herein. The Certificate Administrator shall cause any such REMIC Administrator
to execute and deliver to the Certificate Administrator an instrument in which such REMIC Administrator shall agree to act in
such capacity, with the obligations and responsibilities herein. The appointment of a REMIC Administrator shall not relieve the
Certificate Administrator from any of its obligations hereunder, and the Certificate Administrator shall remain responsible and
liable for all acts and omissions of the REMIC Administrator. Each REMIC Administrator must be acceptable to the Certificate Administrator
and must be organized and doing business under the laws of the United States of America or of any State and be subject to supervision
or examination by federal or state authorities. In the absence of any other Person appointed in accordance herewith acting as
REMIC Administrator, the Certificate Administrator hereby agrees to act in such capacity in accordance with the terms hereof.
If Wells Fargo Bank, National Association is removed as Certificate Administrator, then Wells Fargo Bank, National Association
shall be terminated as REMIC Administrator.

 

(b)          Any
Person into which any REMIC Administrator may be merged or converted or with which it may be consolidated, or any Person resulting
from any merger, conversion, or consolidation to which any REMIC Administrator shall be a party, or any Person succeeding to the
corporate agency business of any REMIC Administrator, shall continue to be the REMIC Administrator without the execution or filing
of any paper or any further act on the part of the Certificate Administrator or the REMIC Administrator.

 

(c)          Any
REMIC Administrator may at any time resign by giving at least thirty (30) days’ advance written notice of resignation to
the Trustee, the Certificate Registrar, the Certificate Administrator, the Master Servicer, the Special Servicer and the Depositor.
The Certificate Administrator may at any time terminate the agency of any REMIC Administrator by giving written notice of termination
to such REMIC Administrator, the Master Servicer, the Certificate Registrar and the Depositor. Upon receiving a notice of resignation
or upon such a termination, or in case at any time any REMIC Administrator shall cease to be eligible in accordance with the provisions
of this Section 10.04, the Certificate Administrator may appoint a successor REMIC Administrator, in which case the Certificate
Administrator shall give written notice of such appointment to the Master Servicer, the Trustee and the Depositor and shall mail
notice of such appointment to all Certificateholders; provided, however, that no successor REMIC Administrator shall
be appointed unless eligible under the provisions of this Section 10.04. Any successor REMIC Administrator upon acceptance
of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder,
with like effect as if originally named as REMIC Administrator. No REMIC Administrator shall have responsibility or liability
for any action taken by it as such at the direction of the Certificate Administrator.

 

[End
of Article X]

 

Article
XI

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section
11.01     Intent of the Parties; Reasonableness. The parties hereto acknowledge and agree that
the purpose of Article XI of this Agreement is to facilitate

 

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compliance
by the Depositor (and any Other Depositor of any Other Securitization that includes a Serviced Companion Loan) with the provisions
of Regulation AB and the related rules and regulations of the Commission. The Depositor shall not exercise its rights to request
delivery of information or other performance under these provisions other than in reasonable good faith, or for
purposes other than compliance with the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and, in each case, the rules
and regulations of the Commission thereunder. The parties hereto acknowledge that interpretations of the requirements of Regulation
AB may change over time, due to interpretive guidance provided by the Commission or its staff, and agree to comply with requests
made by the Depositor (or any Other Depositor or Other Trustee of any Other Securitization that includes a Serviced Companion
Loan) in good faith for delivery of information under these provisions on the basis of such evolving interpretations of Regulation
AB (to the extent such interpretations require compliance and are not “grandfathered”). In connection with the JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, and any Other Securitization
subject to Regulation AB that includes a Serviced Companion Loan, each of the Master Servicer, the Special Servicer, the Senior
Trust Advisor, the Trustee, the Custodian and the Certificate Administrator shall cooperate fully with the Depositor and the Certificate
Administrator, and any Other Depositor, Other Trustee and Other Certificate Administrator of any Other Securitization that includes
a Serviced Companion Loan, as applicable, to deliver or make available to the Depositor or the Certificate Administrator, and
any such Other Depositor, Other Trustee or Other Certificate Administrator, as applicable (including any of its assignees or designees),
any and all statements, reports, certifications, records and any other information (in its possession or reasonably attainable)
necessary in the reasonable good faith determination of the Depositor or such Other Depositor, as applicable, to permit the Depositor
or such Other Depositor, as applicable, to comply with the provisions of Regulation AB, together with such disclosures relating
to the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Trustee, the Custodian and the Certificate Administrator,
as applicable, and any Sub-Servicer, or the servicing of the Mortgage Loans (or the related Serviced Companion Loan), reasonably
believed by the Depositor or the related Other Depositor to be necessary in order to effect such compliance. Each party to this
Agreement shall have a reasonable period of time to comply with any written request made under this Section 11.01, but
in any event, shall, upon reasonable advance written request, provide information in sufficient time to allow the Depositor to
satisfy any related filing requirements. For purposes of this Article XI, to the extent any party has an obligation to
exercise commercially reasonable efforts to cause a third party to perform, such party hereunder shall not be required to bring
any legal action against such third party in connection with such obligation.

 

Section
11.02     Succession; Subcontractors. (a) As a condition to the succession to the Master Servicer
and Special Servicer or to any Sub-Servicer (but only if such Sub-Servicer is a servicer as contemplated by Item 1108(a)(2)) as
servicer or sub-servicer or succession to the Certificate Administrator under this Agreement by any Person (i) into which the
Master Servicer and Special Servicer, such Sub-Servicer or Certificate Administrator may be merged or consolidated, or (ii) which
may be appointed as a successor to the Master Servicer and Special Servicer or to any such Sub-Servicer or Certificate Administrator,
the person removing and replacing the Master Servicer and Special Servicer or Certificate Administrator shall provide to the Depositor,
the Master Servicer and Special Servicer and the Certificate Administrator, as applicable, at least fifteen (15) calendar days
prior to the effective date of such succession or

 

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appointment
(or such shorter period as is agreed to by the Depositor), (x) written notice to the Depositor of such succession or appointment
and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information relating to such successor
reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form
8-K pursuant to the Exchange Act (if such reports under the Exchange Act are required to be filed under the Exchange Act); provided,
however that if disclosing such information prior to such effective date would violate any applicable law or confidentiality
agreement, the Master Servicer, the Special Servicer, any Additional Servicer or the Certificate Administrator, as the case may
be, shall submit such disclosure to the Depositor no later than the first Business Day after the effective date of such succession
or appointment.

 

(b)          Each
of the Master Servicer, the Special Servicer, the Sub-Servicer, the Trustee, the Senior Trust Advisor and the Certificate Administrator
(each of the Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor and the Certificate Administrator and
each Sub-Servicer, for purposes of this Section 11.02, a “Servicer”) is permitted to utilize one or
more Subcontractors to perform certain of its obligations hereunder. If such Subcontractor will be a Servicing Function Participant,
such Servicer shall promptly upon written request provide to the Depositor or any Mortgage Loan Seller (and any Other Trustee,
Other Certificate Administrator and Other Depositor related to any Other Securitization that includes a related Serviced Companion
Loan) a written description (in form and substance satisfactory to the Depositor, such Mortgage Loan Seller or such Other Trustee,
Other Certificate Administrator or Other Depositor, as applicable) of the role and function of each Subcontractor utilized by
such Servicer, specifying (i) the identity of such Subcontractor and (ii) the elements of the Servicing Criteria that will be
addressed in assessments of compliance provided by each such Subcontractor. As a condition to the utilization by such Servicer
of any Subcontractor determined to be a Servicing Function Participant, such Servicer shall (i) with respect to any such Subcontractor
engaged by such Servicer that is an Initial Sub-Servicer, use commercially reasonable efforts to cause, and (ii) with respect
to any other subcontractor with which it has entered into a servicing relationship, cause such Subcontractor used by such Servicer
for the benefit of the Depositor and the Trustee (and any Other Trustee, Other Certificate Administrator and Other Depositor related
to any Other Securitization that includes a related Serviced Companion Loan) to comply with the provisions of Section 11.10
and Section 11.11 of this Agreement to the same extent as if such Subcontractor were such Servicer. With respect to
any Servicing Function Participant engaged by such Servicer that is an Initial Sub-Servicer, such Servicer shall be responsible
for using commercially reasonable efforts to obtain, and with respect to each other Servicing Function Participant engaged by
such Servicer, such Servicer shall obtain from each such Servicing Function Participant and deliver to the applicable Persons
any assessment of compliance report and related accountant’s attestation required to be delivered by such Subcontractor
under Section 11.10 and Section 11.11, in each case, as and when required to be delivered. For the avoidance of
doubt, the Custodian shall not be permitted to utilize any Subcontractor to perform any of its obligations hereunder.

 

(c)          Notwithstanding
the foregoing, if a Servicer engages a Subcontractor, other than an Initial Sub-Servicer in connection with the performance of
any of its duties under this Agreement, such Servicer shall be responsible for determining whether such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and whether any such Subcontractor meets the criteria in Item 1108(a)(2)(i),
(ii) or (iii) of Regulation AB. If a Servicer

 

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determines,
pursuant to the preceding sentence, that such Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation
AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB, then such Subcontractor shall be deemed to be
a Sub-Servicer for purposes of this Agreement, the engagement of such Sub-Servicer shall not be effective unless and until notice
is given to the Depositor and the Certificate Administrator of any such Sub-Servicer and Subservicing Agreement. Other than with
respect to the Initial Sub-Servicer, no Subservicing Agreement shall be effective until fifteen (15) days after such written notice
is received by the Depositor and the Certificate Administrator (or such shorter period as is agreed to by the Depositor). Such
notice shall contain all information reasonably necessary to enable the Certificate Administrator to accurately and timely report
the event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act are required to be
filed under the Exchange Act).

 

(d)          In
connection with the succession to the Trustee under this Agreement by any Person (i) into which the Trustee may be merged or consolidated,
or (ii) which may be appointed as a successor to the Trustee, the Trustee shall deliver written notice to the Depositor, the Certificate
Administrator and the 17g-5 Information Provider, which shall promptly post such notice to the 17g-5 Information Provider’s
Website pursuant to Section 3.15(c), in each case at least thirty (30) calendar days prior to the effective date of such
succession or appointment (or if such prior notice violates applicable law or any applicable confidentiality agreement, no later
than one (1) Business Day after such effective date of succession) and shall furnish to the Depositor and the Certificate Administrator,
in writing and in form and substance reasonably satisfactory to the Depositor and the Certificate Administrator, all information
reasonably necessary for the Certificate Administrator to accurately and timely report, pursuant to Section 11.07, the
event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act are required to be filed
under the Exchange Act).

 

(e)          Notwithstanding
anything to the contrary contained in this Article XI, in connection with any Sub-Servicer and/or any Mortgage Loan that
is the subject of an Initial Sub-Servicing Agreement, with respect to all matters related to Regulation AB, the Master Servicer
shall not have any obligation other than to use commercially reasonable efforts to cause such Sub-Servicer to comply with its
obligations under such Initial Sub-Servicing Agreement.

 

(f)          Any
information furnished pursuant to this Section 11.02 shall also be provided to each Other Depositor and each Other Certificate
Administrator (to the extent the information relates to a party that services, specially services or is trustee or custodian for
a Serviced Companion Loan) in the same time frame as set forth in this Section 11.02.

 

Section
11.03     Filing Obligations. (a) The Master Servicer, the Special Servicer, the Certificate Administrator,
the Senior Trust Advisor and the Trustee shall reasonably cooperate with the Depositor in connection with the satisfaction of
the Trust’s reporting requirements under the Exchange Act. Pursuant to Sections 11.04, 11.05, 11.06
and 11.07 of this Agreement, the Certificate Administrator shall prepare for execution by the Depositor any Forms 8-K,
10-D and 10-K required by the Exchange Act, in order to permit the timely filing thereof, and the Certificate Administrator shall
file (via the Commission’s Electronic Data Gathering and Retrieval System (“EDGAR”)) such Forms executed
by the Depositor.

 

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Each
party hereto shall be entitled to rely on the information in the Prospectus Supplement with respect to the identity of any “sponsor”,
credit enhancer, derivative provider or “significant obligor” as of the Closing Date other than with respect to itself
or any information required to be provided by it or indemnified for by it pursuant to any separate agreement. 

 

(b)          In
the event that the Certificate Administrator is unable to timely file with the Commission all or any required portion of any Form
8-K, 10-D or 10-K required to be filed by this Agreement because required disclosure information was either not delivered to it
or delivered to it after the delivery deadlines set forth in this Agreement, the Certificate Administrator will promptly notify
the Depositor. In the case of Forms 10-D and 10-K, the Depositor, the Master Servicer, the Certificate Administrator, the Senior
Trust Advisor and the Trustee will thereupon cooperate to prepare and file a Form 12b-25 and a Form 10-D/A or Form 10-K/A, as
applicable, pursuant to Rule 12b-25 of the Exchange Act. In the case of Form 8-K, the Certificate Administrator will, upon receipt
of all required Form 8-K Disclosure Information and upon the approval and direction of the Depositor, include such disclosure
information on the next succeeding Form 10-D to be filed for the Trust. In the event that any previously filed Form 8-K, Form
10-D or Form 10-K needs to be amended, the Certificate Administrator will notify the Depositor, and such other parties as needed
and the parties hereto will cooperate with the Certificate Administrator to prepare any necessary Form 8-K/A, Form 10-D/A or Form
10-K/A. Any Form 15, Form 12b-25 or any amendment to Form 8-K, Form 10-D or Form 10-K shall be signed by an officer of the Depositor.
The parties to this Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section
11.03 related to the timely preparation and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, Form 10-D or Form
10-K is contingent upon the parties observing all applicable deadlines in the performance of their duties under Sections 11.03,
11.04, 11.05, 11.06, 11.07, 11.08, 11.09, 11.10, 11.11 and 11.16
of this Agreement. The Certificate Administrator shall have no liability for any loss, expense, damage, claim arising out of or
with respect to any failure to properly prepare, arrange for execution and/or timely file any such Form 15, Form 12b-25 or any
amendments to Form 8-K, Form 10-D or Form 10-K, where such failure results from the Certificate Administrator’s inability
or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution
or file such Form 15, Form 12b-25 or any amendments to Forms 8-K, Form 10-D or Form 10-K, not resulting from its own negligence,
bad faith or willful misconduct.

 

Section
11.04     Form 10-D Filings. (a) Within fifteen (15) days after each Distribution Date (subject
to permitted extensions under the Exchange Act), the Certificate Administrator shall prepare and file on behalf of the Trust any
Form 10-D required by the Exchange Act, in form and substance as required by the Exchange Act. The Certificate Administrator shall
file each Form 10-D with a copy of the related Statement to Certificateholders attached thereto. Any disclosure in addition to
the Statement to Certificateholders that is required to be included on Form 10-D (“Additional Form 10-D Disclosure”)
shall, pursuant to the following paragraph be reported by the parties set forth on Exhibit BB to the Depositor and the
Certificate Administrator and approved by the Depositor, and the Certificate Administrator will have no duty or liability for
any failure hereunder to determine or prepare any Additional Form 10-D Disclosure, absent such reporting, direction and approval.

 

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For
so long as the Trust is subject to the reporting requirements of the Exchange Act, as set forth on Exhibit BB hereto, within
five (5) calendar days after the related Distribution Date, (i) certain parties to this Agreement identified on Exhibit BB
hereto shall be required to provide to the Certificate Administrator and the Depositor (and in the case of any Servicing Function
Participant, with a copy to the Master Servicer), to the extent a Regulation AB Servicing
Officer or Responsible Officer, as the case may be, has actual knowledge, in EDGAR-Compatible Format, or in such other format
as otherwise agreed upon by the Certificate Administrator, the Depositor and such providing parties, the form and substance of
any Additional Form 10-D Disclosure, if applicable; provided, that information relating to any REO Account to be reported
under “Item 8: Other Information” on Exhibit BB shall be reported by the Special Servicer to the Master Servicer
within four (4) calendar days after the related Distribution Date on Exhibit MM; (ii) the parties listed on Exhibit
BB hereto shall include with such Additional Form 10-D Disclosure, an Additional Disclosure Notification in the form attached
hereto as Exhibit EE (except with respect to the reporting of REO Account balances which shall be delivered in the form
of Exhibit MM hereto) and (iii) the Depositor shall approve, as to form and substance, or disapprove, as the case may be,
the inclusion of the Additional Form 10-D Disclosure on Form 10-D. Information delivered to the Certificate Administrator hereunder
should be delivered by email to cts.sec.notifications@wellsfargo.com or by facsimile to (410) 715-2380, Attn: CTS SEC Notifications.
Neither the Trustee nor the Certificate Administrator has any duty under this Agreement to monitor or enforce the performance
by the parties listed on Exhibit BB of their duties under this paragraph or proactively solicit or procure from such parties
any Additional Form 10-D Disclosure information. The Depositor will be responsible for any reasonable expenses incurred by the
Trustee or Certificate Administrator in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to
this paragraph.

 

The
Certificate Administrator shall include in any Form 10-D filed by it (i) the information required by Rule 15Ga-1(a) of the Exchange
Act concerning all assets of the Trust that were subject of a demand for the repurchase of, or the substitution of a Qualified
Substitute Mortgage Loan for, a Mortgage Loan contemplated by Section 2.03(b), (ii) a reference to the most recent Form
ABS-15G filed by the Depositor and the Mortgage Loan Sellers, if applicable, and the SEC’s assigned “Central Index
Key” for each such filer and (iii) to the extent such information is provided to the Certificate Administrator by the Master
Servicer in the form of Exhibit MM hereto for inclusion therein within the time period described in this Section 11.04,
the balances of the REO Account (to the extent the related information has been received from the Special Servicer within the
time period specified in Section 11.04 hereof) and the Certificate Account as of the related Distribution Date and as of
the immediately preceding Distribution Date and (iv) the balances of the Distribution Accounts, the Gain-on-Sale Reserve Account
and the Interest Reserve Account, in each case as of the related Distribution Date and as of the immediately preceding Distribution
Date. The Depositor and the Mortgage Loan Sellers, in accordance with Section 6(b) of the applicable Mortgage Loan Purchase Agreement,
shall deliver such information as described in clause (i) and clause (ii) of this paragraph.

 

Form
10-D requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all
reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter
period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
ninety (90)

 

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days.”
The Depositor hereby represents to the Certificate Administrator that the Depositor has filed all such required reports during
the preceding twelve (12) months and that it has been subject to such filing requirement for the past ninety (90) days. The Depositor
shall notify the Certificate Administrator in writing, no later than the 5th calendar day after the related Distribution Date
with respect to the filing of a report on Form 10-D if the answer to the questions
should be “no.” The Certificate Administrator shall be entitled to rely on such representations in preparing, executing
and/or filing any such report.

 

With
respect to any Mortgage Loan that permits Additional Debt or mezzanine debt in the future, the Certificate Administrator shall
include as part of any applicable Form 10-D filed by it (A) the amount of any such Additional Debt or mezzanine debt, as applicable,
that is incurred during the related Due Period, (B) the total debt service coverage ratio calculated on the basis of the Mortgage
Loan and such Additional Debt or mezzanine debt, as applicable, and (C) the aggregate LTV Ratio calculated on the basis of the
Mortgage Loan and such Additional Debt or mezzanine debt, as applicable.

 

(b)          After
preparing the Form 10-D, the Certificate Administrator shall forward electronically a copy of the Form 10-D to the Depositor for
review no later than ten (10) calendar days after the related Distribution Date or, if the 10th calendar day after the related
Distribution Date is not a Business Day, the immediately preceding Business Day. Within two (2) Business Days after receipt of
such copy, but no later than the two (2) Business Days prior to the 15th calendar day after the Distribution Date, the Depositor
shall notify the Certificate Administrator in writing (which may be furnished electronically) of any changes to or approval of
such Form 10-D and, a duly authorized officer of the Depositor shall sign the Form 10-D and return an electronic or fax copy of
such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Certificate Administrator. Alternatively,
if the Certificate Administrator agrees in its sole discretion, the Depositor may deliver to the Certificate Administrator manually
signed copies of a power of attorney meeting the requirements of Item 601(b)(24) of Regulation S-K under the Securities Act, and
certified copies of a resolution of the Depositor’s board of directors authorizing such power of attorney, each to be filed
with each Form 10-D, in which case the Certificate Administrator shall sign such Forms 10-D as attorney in fact for the Depositor.
If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be amended, the Certificate Administrator will
follow the procedures set forth in Section 11.03(b). Promptly after filing with the Commission, the Certificate Administrator
will make available on its Internet website a final executed copy of each Form 10-D filed by the Certificate Administrator. The
signing party at the Depositor can be contacted at Bianca Russo, Managing Director and Secretary, J.P. Morgan Chase Commercial
Mortgage Securities Corp., 383 Madison Avenue, 32nd Floor, New York, New York 10179, telecopy number: (917) 464-6116, with a copy
to Kunal Singh, Executive Director, J.P. Morgan Chase Commercial Mortgage Securities Corp., 383 Madison Avenue, 31st Floor, New
York, New York 10179, telecopy number: (212) 834-6047. The parties to this Agreement acknowledge that the performance by the Certificate
Administrator of its duties under this Section 11.04(b) related to the timely preparation and filing of Form 10-D is contingent
upon such parties observing all applicable deadlines in the performance of their duties under this Section 11.04(b). Neither
the Trustee nor the Certificate Administrator shall have any liability for any loss, expense, damage, or claim arising out of
or with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 10-D, where such failure
results from

 

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the
Certificate Administrator’s inability or failure to receive, on a timely basis, any information from any party to this Agreement
needed to prepare, arrange for execution or file such Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.

 

(c)          Any
notice and/or information furnished pursuant to this Section 11.04 shall also be provided to each Other Depositor and each
Other Certificate Administrator (to the extent the notice and/or information relates to a Serviced Companion Loan or a party that
services, specially services or is trustee or custodian for a Serviced Companion Loan) in the same time frame as set forth in
this Section 11.04.

 

Section
11.05     Form 10-K Filings. (a) Within ninety (90) days after the end of each fiscal year of
the Trust (it being understood that the fiscal year for the Trust ends on December 31 of each year) or such earlier date as may
be required by the Exchange Act (the “10-K Filing Deadline”), commencing in March 2015, the Certificate Administrator
shall prepare and file on behalf of the Trust a Form 10-K, in form and substance as required by the Exchange Act. Each such Form
10-K shall include the following items, in each case to the extent they have been delivered to the Certificate Administrator within
the applicable time frames set forth in this Agreement:

 

(i)           an
annual compliance statement for the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and each
Additional Servicer, as described under Section 11.09;

 

(ii)          (A)
the annual reports on assessment of compliance with servicing criteria for the Trustee, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Custodian, the Senior Trust Advisor, each Additional Servicer and each other Servicing Function
Participant utilized by the Master Servicer, the Special Servicer, the Certificate Administrator, the Senior Trust Advisor, the
Custodian or Trustee, as described under Section 11.10; and

 

(B)          if
any such report on assessment of compliance with servicing criteria described under Section 11.10 identifies any material
instance of noncompliance, disclosure identifying such instance of noncompliance, or if such report on assessment of compliance
with servicing criteria described under Section 11.10 is not included as an exhibit to such Form 10-K, disclosure that
such report is not included and an explanation why such report is not included;

 

(iii)          (A)         the
registered public accounting firm attestation report for the Trustee, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Custodian, the Senior Trust Advisor, each Additional Servicer and each Servicing Function Participant utilized
by the Master Servicer, the Special Servicer, the Certificate Administrator, the Senior Trust Advisor, the Custodian or the Trustee,
as described under Section 11.11; and

 

(B)          if
any registered public accounting firm attestation report described under Section 11.11 identifies any material instance
of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public 

 

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accounting
firm attestation report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation
why such report is not included; and 

 

(iv)          a
certification in the form attached hereto as Exhibit Y, with such changes as may be necessary or appropriate as a result
of changes promulgated by the Commission (the “Sarbanes-Oxley Certification”), which shall, except as described
below, be signed by the senior officer of the Depositor in charge of securitization.

 

Any
disclosure or information in addition to (i) through (iv) above that is required to be included on Form 10-K (“Additional
Form 10-K Disclosure”) shall, pursuant to the following paragraph be reported by the parties set forth on Exhibit
CC to the Depositor and the Certificate Administrator and approved by the Depositor and the Certificate Administrator will
have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure, absent such reporting,
direction and approval. Information delivered to the Certificate Administrator hereunder should be delivered by email to cts.sec.notifications@wellsfargo.com
or by facsimile to (410) 715-2380, Attn: CTS SEC Notifications.

 

As
set forth on Exhibit CC hereto, no later than March 15 of each year that the Trust is subject to the Exchange Act reporting
requirements, commencing in 2016, (i) the parties listed on Exhibit CC shall be required to provide to the Certificate
Administrator and the Depositor, to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be, has
actual knowledge, in EDGAR-Compatible Format or in such other format as otherwise agreed upon by the Certificate Administrator,
the Depositor and such providing parties, the form and substance of any Additional Form 10-K Disclosure, if applicable, (ii) the
parties listed on Exhibit CC hereto shall include with such Additional Form 10-K Disclosure, an Additional Disclosure Notification
in the form attached hereto as Exhibit EE and (iii) the Depositor will approve, as to form and substance, or disapprove,
as the case may be, the inclusion of the Additional Form 10-K Disclosure on Form 10-K. Neither the Trustee nor the Certificate
Administrator has any duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit CC
of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-K Disclosure information.
The Depositor will be responsible for any reasonable expenses incurred by the Trustee and the Certificate Administrator in connection
with including any Additional Form 10-K Disclosure on Form 10-K pursuant to this paragraph.

 

Form
10-K requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all
reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter
period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
ninety (90) days.” The Depositor hereby represents to the Certificate Administrator that the Depositor has filed all such
required reports during the preceding twelve (12) months and that it has been subject to such filing requirement for the past
ninety (90) days. The Depositor shall notify the Certificate Administrator in writing, no later than March 15th with respect to
the filing of a report on Form 10-K, if the answer to the questions should be “no.” The Certificate

 

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Administrator
shall be entitled to rely on such representations in preparing, executing and/or filing any such report.

 

(b)          After
preparing the Form 10-K, the Certificate Administrator shall forward electronically a copy of the Form 10-K to the Depositor for
review no later than six (6) Business Days prior to the 10-K Filing
Deadline. Within three (3) Business Days after receipt of such copy, but no later than March 25th, the Depositor shall notify
the Certificate Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form 10-K
and the senior officer in charge of securitization for the Depositor shall sign the Form 10-K and return an electronic or fax
copy of such signed Form 10-K (with an original executed hard copy to follow by overnight mail) to the Certificate Administrator
at such time. If a Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be amended, the Certificate Administrator
shall follow the procedures set forth in Section 11.03(b). Promptly after filing with the Commission, the Certificate Administrator
will make available on its Internet website a final executed copy of each Form 10-K filed by the Certificate Administrator. The
signing party at the Depositor can be contacted at Bianca Russo, Managing Director and Secretary, J.P. Morgan Chase Commercial
Mortgage Securities Corp., 383 Madison Avenue, 32nd Floor, New York, New York 10179, telecopy number: (917) 464-6116, with a copy
to Kunal Singh, Executive Director, J.P. Morgan Chase Commercial Mortgage Securities Corp., 383 Madison Avenue, 31st Floor, New
York, New York 10179, telecopy number: (212) 834-6029. The parties to this Agreement acknowledge that the performance by the Certificate
Administrator of its duties under this Section 11.05 related to the timely preparation and filing of Form 10-K is contingent
upon the parties to this Agreement (and any Additional Servicer or Servicing Function Participant engaged or utilized, as applicable,
by any such parties) observing all applicable deadlines in the performance of their duties under this Section 11.05. Neither
the Trustee nor the Certificate Administrator shall have any liability for any loss, expense, damage, claim arising out of or
with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 10-K, where such failure results
from the Certificate Administrator’s failure to receive, on a timely basis, any information from the parties to this Agreement
(or any Sub-Servicer or Servicing Function Participant engaged by any such parties) needed to prepare, arrange for execution or
file such Form 10-K, not resulting from its own negligence, bad faith or willful misconduct.

 

(c)          Upon
written request from any Mortgage Loan Seller, Other Depositor, the Master Servicer or the Special Servicer, the Certificate Administrator
shall confirm to such Mortgage Loan Seller, Other Depositor, Master Servicer or Special Servicer whether it has received notice
that any party to this Agreement has changed since the Closing Date and will provide to such Mortgage Loan Seller or Other Depositor,
the Master Servicer or the Special Servicer, if known to the Certificate Administrator, the identity of the new party.

 

(d)          Any
notice and/or information furnished pursuant to this Section 11.05 shall also be provided to each Other Depositor and each
Other Certificate Administrator (to the extent the notice and/or information relates to a Serviced Companion Loan or a party that
services, specially services or is trustee or custodian for a Serviced Companion Loan) in the same time frame as set forth in
this Section 11.05.

 

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Section
11.06     Sarbanes-Oxley Certification. Each Form 10-K shall include a Sarbanes-Oxley Certification
in the form attached as Exhibit Y required to be included therewith pursuant to the Sarbanes-Oxley Act. For so long as
the Trust or the trust for any Other Securitization is subject to the reporting requirements of the Exchange Act, the Master Servicer,
the Special Servicer, the Trustee, the Certificate Administrator, the Custodian and the Senior Trust Advisor shall provide, and
(i) with respect to each Initial Sub-Servicer engaged by the Master
Servicer or the Special Servicer, as applicable, that is a Servicing Function Participant use commercially reasonable efforts
to cause such Initial Sub-Servicer to provide, and (ii) with respect to each other Servicing Function Participant with which the
Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian or the Senior Trust Advisor has
entered into a servicing relationship with respect to the Mortgage Loans, shall cause such Servicing Function Participant to provide,
to each Person who signs the Sarbanes-Oxley Certification for the Trust or any Other Securitization that includes a Serviced Companion
Loan (individually and collectively, the “Certifying Person”), on or before March 15 of each year commencing
in March 2016, a certification in the form attached hereto as Exhibits Z-1, Z-2, Z-3, Z-4, Z-5
or Z-6 (each, a “Performance Certification”), as applicable, on which each Certifying Person, the
entity for which such Certifying Person acts as an officer (if the Certifying Person is an individual), and such entity’s
officers, directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can reasonably
rely. In addition, in the event that any Companion Loan (other than a Non-Serviced Companion Loan) is deposited into a commercial
mortgage securitization (an “Other Securitization”) and the Reporting Servicer is provided with timely and
complete contact information for the parties to the other securitizations, each Reporting Servicer, upon not less than thirty
(30) days prior written request, shall provide to the Person who signs the Sarbanes-Oxley Certification with respect to such Other
Securitization a certification in form and substance similar to applicable Performance Certification (which shall address the
matters contained in the applicable Performance Certification, but solely with respect to the related Companion Loan) on which
such Person, the entity for which the Person acts as an officer (if the Person is an individual), and such entity’s officers,
directors and Affiliates can reasonably rely. With respect to any Non-Serviced Companion Loan, the Certificate Administrator will
use its reasonable efforts to procure a Sarbanes-Oxley back-up certification from the applicable Non-Serviced Master Servicer,
Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar to a Performance Certification. The senior
officer in charge of securitization for the Depositor shall serve as the Certifying Person on behalf of the Trust. In addition,
each Reporting Servicer shall execute a reasonable reliance certificate (which may be included as part of such other certifications
being delivered by such Reporting Servicer) to enable the Certification Parties to rely upon each (i) annual compliance statement
provided pursuant to Section 11.09, if applicable, (ii) annual report on assessment of compliance with servicing criteria
provided pursuant to Section 11.10 and (iii) accountant’s report provided pursuant to Section 11.11, and shall
include a certification that each such annual compliance statement or report discloses any deficiencies or defaults described
to the registered public accountants of such Reporting Servicer to enable such accountants to render the certificates provided
for in Section 11.11. In the event any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement,
or any applicable sub-servicing agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide
a certification to each affected Certifying Person pursuant to this Section 11.06 with respect to the period of time it
was subject to this Agreement or the applicable sub-servicing or primary servicing agreement,

 

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as
the case may be. Each such Performance Certification shall be provided in EDGAR-Compatible Format, or in such other format agreed
upon by the Depositor, the Certificate Administrator and such providing parties. Notwithstanding the foregoing, nothing in this
Section 11.06 shall require any Reporting Servicer (i) to certify or verify the accurateness or completeness of any information
provided to such Reporting Servicer by third parties (including a Significant Obligor, but other than an Additional Servicer or
a Sub-Servicer appointed pursuant to Section 3.22), (ii) to certify information other than to such Reporting Servicer’s
knowledge and in accordance with such Reporting Servicer’s responsibilities hereunder or (iii) with respect to completeness
of information and reports, to certify anything other than that all fields of information called for in written reports prepared
by such Reporting Servicer have been completed except as they have been left blank on their face.

 

Notwithstanding
anything to the contrary contained in this Section 11.06, with respect to each year in which the Trust and the trust for
each Other Securitization is not subject to the reporting requirements of the Exchange Act, none of the parties required to deliver
any certification under this Section 11.06 shall be obligated to do so.

 

Section
11.07     Form 8-K Filings. Within four (4) Business Days after the occurrence of an event requiring
disclosure on Form 8-K (each such event, a “Reportable Event”), and if requested by the Depositor and to the
extent it receives the Form 8-K Disclosure Information described below, the Certificate Administrator shall prepare and file on
behalf of the Trust any Form 8-K, as required by the Exchange Act, provided that the Depositor shall file the initial Form
8-K in connection with the issuance of the Certificates. Any disclosure or information related to a Reportable Event or that is
otherwise required to be included on Form 8-K (“Form 8-K Disclosure Information”) shall, pursuant to the following
paragraph be reported by the parties set forth on Exhibit DD to the Depositor and the Certificate Administrator and approved
by the Depositor, and the Certificate Administrator will have no duty or liability for any failure hereunder to determine or prepare
any Form 8-K Disclosure Information or any Form 8-K, absent such reporting, direction and approval.

 

As
set forth on Exhibit DD hereto, for so long as the Trust is subject to the Exchange Act reporting requirements, no later
than close of business, New York City time, on the 2nd Business Day after the occurrence of a Reportable Event (i) the parties
set forth on Exhibit DD hereto shall be required to provide to the Depositor and the Certificate Administrator, to the
extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be, has actual knowledge, in EDGAR-Compatible
Format or in such other format agreed upon by the Depositor, the Certificate Administrator and such providing parties any Form
8-K Disclosure Information, if applicable, (ii) the parties listed on Exhibit DD hereto shall include with such Form 8-K
Disclosure Information, an Additional Disclosure Notification in the form attached hereto as Exhibit EE and (iii) the Depositor
will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information
on Form 8-K. Neither the Trustee nor the Certificate Administrator has any duty under this Agreement to monitor or enforce the
performance by the parties listed on Exhibit DD of their duties under this paragraph or proactively solicit or procure
from such parties any Form 8-K Disclosure Information. The Depositor will be responsible for any reasonable expenses incurred
by the Trustee and the Certificate Administrator in connection with including any Form 8-K Disclosure Information on Form 8-K
pursuant to this paragraph. Information

 

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delivered
to the Certificate Administrator hereunder should be delivered by email to cts.sec.notifications@wellsfargo.com or by facsimile
to 410-715-2380, Attn: CTS SEC Notifications.

 

After
preparing the Form 8-K, the Certificate Administrator shall forward electronically a copy of the Form 8-K to the Depositor for
review no later than noon, New York City time, on the 3rd Business Day after the Reportable Event, but in no event earlier than
24 hours after having received the Form 8-K Disclosure Information pursuant to the immediately preceding paragraph. Promptly,
but no later than the close of business on the 3rd Business Day after the Reportable Event, the Depositor shall notify the Certificate
Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form 8-K. No later than
noon, New York City time, on the 4th Business Day after the Reportable Event, a duly authorized officer of the Depositor shall
sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed hard copy to follow
by overnight mail) to the Certificate Administrator. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs
to be amended, the Certificate Administrator will follow the procedures set forth in Section 11.03(b). Promptly after filing
with the Commission, the Certificate Administrator will, make available on its Internet website a final executed copy of each
Form 8-K filed by the Certificate Administrator. The signing party at the Depositor can be contacted at Bianca Russo, Managing
Director and Secretary, J.P. Morgan Chase Commercial Mortgage Securities Corp., 383 Madison Avenue, 32nd Floor, New York, New
York 10179, telecopy number: (917) 464-6116, with a copy to Kunal Singh, Executive Director, J.P. Morgan Chase Commercial Mortgage
Securities Corp., 383 Madison Avenue, 31st Floor, New York, New York 10179, telecopy number: (212) 834-6029. The parties to this
Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section 11.07 related
to the timely preparation and filing of Form 8-K is contingent upon such parties observing all applicable deadlines in the performance
of their duties under this Section 11.07. Neither the Trustee nor the Certificate Administrator shall have any liability
for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution
and/or timely file such Form 8-K, where such failure results from the Certificate Administrator’s inability or failure to
receive, on a timely basis, any information from the parties to this Agreement needed to prepare, arrange for execution or file
such Form 8-K, not resulting from its own negligence, bad faith or willful misconduct.

 

The
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall promptly notify (and the Master Servicer
and the Special Servicer, as applicable, shall (i) with respect to each Initial Sub-Servicer that is an Additional Servicer engaged
by such Master Servicer or Special Servicer, as applicable, use commercially reasonable efforts to cause such Additional Servicer
to promptly notify and (ii) with respect to each other Additional Servicer with which it has entered into a servicing relationship
with respect to the Mortgage Loans (other than a party to this Agreement) cause such Additional Servicer to promptly notify) the
Depositor and the Certificate Administrator, but in no event later than noon, New York City time, on the 2nd Business Day after
its occurrence, of any Reportable Event applicable to such party to the extent a Regulation AB Servicing Officer or Responsible
Officer, as the case may be, has actual knowledge, in EDGAR-Compatible Format.

 

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Notwithstanding
anything to the contrary in this Section 11.07, with respect to each year in which the Trust and the trust for each Other
Securitization is not subject to the reporting requirements of the Exchange Act, none of the parties hereto are required to deliver
Form 8-K Disclosure Information.

 

Any
notice and/or information furnished pursuant to this Section 11.07 shall also be provided to each Other Depositor and each
Other Certificate Administrator (to the extent the notice and/or
information relates to a Serviced Companion Loan or a party that services, specially services or is trustee or custodian for a
Serviced Companion Loan) in the same time frame as set forth in this Section 11.07.

 

Section
11.08     Form 15 Filing. On or prior to January 30th of the first year in which the Depositor
shall provide notice to the Certificate Administrator of its ability under applicable law to suspend its Exchange Act filings,
the Certificate Administrator shall prepare and file a notification relating to the automatic suspension of reporting in respect
of the Trust under the Exchange Act (the “Form 15 Suspension Notification”) or any form necessary to be filed
with the Commission to suspend such reporting obligations. With respect to any reporting period occurring after the filing of
such form, the obligations of the parties to this Agreement under Section 11.04, Section 11.05 and Section 11.07
shall be suspended and reports or certifications due under Section 11.09, 11.10 and 11.11 shall not be
due until April 15th of each year. The Certificate Administrator shall provide prompt notice to the Mortgage Loan Sellers and
all other parties hereto that such form has been filed. If, after the filing of a Form 15 Suspension Notification, the Depositor
shall provide notice to the Certificate Administrator that it is required to resume its Exchange Act filings, the Certificate
Administrator shall recommence preparing and filing reports on Forms 10-K, 10-D and 8-K as required pursuant to Section 11.04,
Section 11.05 and Section 11.07, and all parties’ obligations under this Article XI shall recommence.

 

Section
11.09     Annual Compliance Statements. The Master Servicer, the Special Servicer (regardless
of whether the Special Servicer has commenced special servicing of a Mortgage Loan), the Custodian, the Trustee and the Certificate
Administrator (each, a “Certifying Servicer”) shall (and each such party shall (i) with respect to each Additional
Servicer engaged by the Certifying Servicer that is an Initial Sub-Servicer, use commercially reasonable efforts to cause such
Additional Servicer to and (ii) with respect to each other Additional Servicer with which it has entered into a servicing relationship
with respect to the Mortgage Loans, cause such Additional Servicer to), on or before March 15th of each year, commencing in March
2016, deliver to the Trustee, the Certificate Administrator (which copy shall be deemed furnished by the Certificate Administrator
when made available on its Internet website), the Depositor and the 17g-5 Information Provider (who shall post to the 17g-5 Information
Provider’s Website), an Officer’s Certificate, in the form attached hereto as Exhibit HH (or such other form,
similar in substance, as may be reasonably acceptable to the Depositor) stating, as to the signer thereof, that (A) a review of
such Certifying Servicer’s activities during the preceding calendar year or portion thereof and of such Certifying Servicer’s
performance under this Agreement, or the applicable sub-servicing agreement or primary servicing agreement in the case of an Additional
Servicer, has been made under such officer’s supervision and (B) to the best of such officer’s knowledge, based on
such review, such Certifying Servicer has fulfilled all its obligations under this Agreement, or the applicable

 

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sub-servicing
agreement or primary servicing agreement in the case of an Additional Servicer, in all material respects throughout such year
or portion thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such
failure known to such officer and the nature and status thereof. Such Officer’s Certificate shall be provided in EDGAR-Compatible
Format, or in such other format agreed upon by the Depositor, the Certificate Administrator and such providing parties. Each Certifying
Servicer shall (i) with respect to each Additional Servicer engaged by such Certifying Servicer that is an Initial Sub-Servicer,
use commercially reasonable efforts to cause such Additional Servicer, and (ii) with respect to each other Additional Servicer
with which it has entered into a servicing relationship with respect to the Mortgage Loans, cause such Additional Servicer to
forward a copy of each such statement (or, in the case of the Certificate Administrator, make a copy of each such statement available
on its Internet website) to the Directing Certificateholder and the 17g-5 Information Provider. With respect to any Non-Serviced
Companion Loan, the Certificate Administrator will use its reasonable efforts to procure such Officer’s Certificate from
the applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar
to the form attached hereto as Exhibit HH. Promptly after receipt of each such Officer’s Certificate, the Depositor
may review each such Officer’s Certificate and, if applicable, consult with the Certifying Servicer as to the nature of
any failures by the Certifying Servicer or any related Additional Servicer with which the Certifying Servicer has entered into
a servicing relationship with respect to the Mortgage Loans in the fulfillment of any of the Certifying Servicer’s or Additional
Servicer’s obligations hereunder or under the applicable sub-servicing or primary servicing agreement. The obligations of
the Certifying Servicer and each Additional Servicer under this Section apply to the Certifying Servicer and each Additional Servicer
that serviced a Mortgage Loan during the applicable period, whether or not such Certifying Servicer or Additional Servicer is
acting as the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator or Additional Servicer at the
time such Officer’s Certificate is required to be delivered. None of the Master Servicer, Special Servicer or Additional
Servicer shall be required to cause the delivery of any such statement until April 15 in any given year so long as it has received
written confirmation from the Depositor (or, in the case of an Other Securitization, the related Other Depositor) that a report
on Form 10-K is not required to be filed in respect of the Trust or the trust for any Other Securitization for the preceding calendar
year.

 

In
the event the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator is terminated or resigns pursuant
to the terms of this Agreement, such party shall provide, and each of the Master Servicer and the Special Servicer shall (i) with
respect to an Initial Sub-Servicer engaged by such party that is an Additional Servicer that resigns or is terminated under any
applicable servicing agreement, use its reasonable efforts to cause such Additional Servicer to provide and (ii) with respect
to any other Additional Servicer engaged by such party that resigns or is terminated under any applicable servicing agreement,
cause such Additional Servicer to provide, an annual statement of compliance pursuant to this Section 11.09 with respect
to the period of time that the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator was subject
to this Agreement or the period of time that such Additional Servicer was subject to such other servicing agreement.

 

Any
certificate, statement, report, notice and/or information furnished pursuant to this Section 11.09 shall also be provided
to each Other Depositor and each Other Certificate

 

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Administrator
(to the extent such item and/or information relates to a party that services, specially services or is trustee or custodian for
a Serviced Companion Loan) in the same time frame as set forth in this Section 11.09.

 

Section
11.10     Annual Reports on Assessment of Compliance with Servicing Criteria. (a) On or before
March 15th of each year, commencing in March 2016, the Master Servicer, the Special Servicer (regardless of whether the Special
Servicer has commenced special servicing of the Mortgage Loans),
the Trustee, the Custodian, the Senior Trust Advisor and the Certificate Administrator, each at its own expense, shall furnish
(and each such party shall (i) with respect to each Initial Sub-Servicer engaged by such Master Servicer, Special Servicer, Trustee,
Senior Trust Advisor, Custodian or Certificate Administrator that is a Servicing Function Participant, use commercially reasonable
efforts to cause such Servicing Function Participant to furnish and (ii) with respect to each other Servicing Function Participant
with which it has entered into a servicing relationship with respect to the Mortgage Loans, cause such Servicing Function Participant
to furnish) to the Trustee, the Certificate Administrator, the Depositor (which copy shall be deemed furnished by the Certificate
Administrator when made available on its Internet website) (and, with respect to the Special Servicer, also to the Senior Trust
Advisor), and the 17g-5 Information Provider, a report substantially in the form of Exhibit II or such other form provided
by such Reporting Servicer that complies in all material respects with the requirements of Item 1122 of Regulation AB, on an assessment
of compliance with the Servicing Criteria applicable to it that contains (A) a statement by such Reporting Servicer of its responsibility
for assessing compliance with the Relevant Servicing Criteria, (B) a statement that such Reporting Servicer used the Relevant
Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of
compliance with the Relevant Servicing Criteria as of and for the period ending the end of the fiscal year covered by the Form
10-K required to be filed pursuant to Section 11.05, including, if there has been any material instance of noncompliance
with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and (D) a statement
that a registered public accounting firm has issued an attestation report on such Reporting Servicer’s assessment of compliance
with the Relevant Servicing Criteria as of and for such period. With respect to any Non-Serviced Companion Loan, the Certificate
Administrator will use its reasonable efforts to procure such report from the applicable Non-Serviced Master Servicer, Non-Serviced
Special Servicer and Non-Serviced Trustee in form and substance similar to the form attached hereto as Exhibit II. Such
report shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor, the Certificate Administrator
and the Reporting Servicer.

 

Each
such report shall be addressed to the Depositor and signed by an authorized officer of the applicable company, and shall address
the Relevant Servicing Criteria specified on a certification substantially in the form of Exhibit AA hereto delivered to
the Depositor on the Closing Date. Promptly after receipt of each such report, (i) the Depositor may review each such report and,
if applicable, consult with each Reporting Servicer as to the nature of any material instance of noncompliance with the Relevant
Servicing Criteria applicable to it (and each Servicing Function Participant engaged or utilized by each Reporting Servicer, as
applicable), and (ii) the Certificate Administrator shall confirm that the assessments taken individually address the Relevant
Servicing Criteria for each party as set forth on Exhibit AA and notify the Depositor of any exceptions. None of the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee or any Servicing Function Participant shall be required
to cause the

 

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delivery
of any such assessments until April 15th in any given year so long as it has received written confirmation from the Depositor
(or, in the case of an Other Securitization, the related Other Depositor) that a report on Form 10-K is not required to be filed
in respect of the Trust or the trust for any Other Securitization for the preceding calendar year.

 

Notwithstanding
the foregoing, at any time that the Certificate Administrator and the Trustee are the same entity, the Certificate Administrator
and Trustee may provide a combined assessment of compliance required
pursuant to this Section 11.10(a) in respect of their combined Relevant Servicing Criteria as set forth on Exhibit AA
hereto.

 

(b)          The
Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor and the Certificate Administrator hereby acknowledge
and agree that the Relevant Servicing Criteria set forth on Exhibit AA is appropriately set forth with respect to such
party and any Servicing Function Participant with which the Master Servicer, Special Servicer, Trustee, Senior Trust Advisor or
Certificate Administrator has entered into a servicing relationship.

 

(c)          No
later than ten (10) Business Days after the end of each fiscal year for the Trust, the Master Servicer and the Special Servicer
shall notify the Certificate Administrator, the Depositor and each Mortgage Loan Seller as to the name of each Additional Servicer
engaged by it and each Servicing Function Participant utilized by it, in each case other than with respect to any Initial Sub-Servicer,
and the Trustee, the Senior Trust Advisor and the Certificate Administrator shall notify the Depositor and each Mortgage Loan
Seller as to the name of each Servicing Function Participant utilized by it, in each case by providing an updated Exhibit GG,
and each such notice (except to a Mortgage Loan Seller) will specify what specific Servicing Criteria will be addressed in the
report on assessment of compliance prepared by such Servicing Function Participant. When the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator and the Senior Trust Advisor submit their assessments pursuant to Section 11.10(a),
the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Senior Trust Advisor, as applicable,
will also at such time include the assessment (and related attestation pursuant to Section 11.11) of each Servicing Function
Participant engaged by it.

 

In
the event the Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor, the Custodian or the Certificate Administrator
is terminated or resigns pursuant to the terms of this Agreement, such party shall provide, and each such party shall cause any
Servicing Function Participant engaged by it to provide (and each of the Master Servicer and the Special Servicer shall (i) with
respect to an Initial Sub-Servicer engaged by such Master Servicer or Special Servicer that is an Additional Servicer that resigns
or is terminated under any applicable servicing agreement, use its reasonable efforts to cause such Additional Servicer and (ii)
with respect to any other Additional Servicer that resigns or is terminated under any applicable servicing agreement, cause such
Additional Servicer to provide) an annual assessment of compliance pursuant to this Section 11.10, coupled with an attestation
as required in Section 11.11 with respect to the period of time that the Master Servicer, the Special Servicer, the Trustee,
the Senior Trust Advisor, the Custodian or the Certificate Administrator was subject to this Agreement or the period of time that
the Additional Servicer was subject to such other servicing agreement.

 

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(d)          The
Senior Trust Advisor may at any time request from the Certificate Administrator confirmation of whether a Control Event or Consultation
Termination Event occurred during the previous calendar year, and upon such request the Certificate Administrator shall deliver
such confirmation to the Senior Trust Advisor within fifteen (15) days of such request. 

 

(e)          Any
certificate, statement, report, assessment, attestation, notice and/or information furnished pursuant to this Section 11.10
shall also be provided to each Other Depositor and each Other Certificate Administrator (to the extent such item and/or information
relates to a party that services, specially services or is trustee or custodian for a Serviced Companion Loan) in the same time
frame as set forth in this Section 11.10.

 

Section
11.11     Annual Independent Public Accountants’ Attestation Report. On or before March
15th of each year, commencing in March 2016, the Master Servicer, the Special Servicer, the Trustee, the Custodian, the Senior
Trust Advisor and the Certificate Administrator, each at its own expense, shall cause (and each such party shall (i) with respect
to each Initial Sub-Servicer engaged by such Master Servicer, Special Servicer, Trustee, Senior Trust Advisor or Certificate Administrator
that is a Servicing Function Participant use commercially reasonable efforts to cause such Servicing Function Participant to cause
and (ii) with respect to each other Servicing Function Participant with which it has entered into a servicing relationship with
respect to the Mortgage Loans, cause such Servicing Function Participant to cause) a registered public accounting firm (which
may also render other services to the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian,
the Senior Trust Advisor or the applicable Servicing Function Participant, as the case may be) and that is a member of the American
Institute of Certified Public Accountants to furnish a report to the Trustee (who will promptly post such report on the Certificate
Administrator’s Website pursuant to Section 3.15(b)), the Certificate Administrator and the Depositor, the 17g-5
Information Provider and, prior to the occurrence of a Consultation Termination Event, the Directing Certificateholder, and, promptly,
but not earlier than the second Business Day following the delivery of such report to the 17g-5 Information Provider, to the Rating
Agencies, to the effect that (i) it has obtained a representation regarding certain matters from the management of such Reporting
Servicer, which includes an assertion that such Reporting Servicer has complied with the Relevant Servicing Criteria applicable
to it and (ii) on the basis of an examination conducted by such firm in accordance with standards for attestation engagements
issued or adopted by the PCAOB, it is issuing an opinion as to whether such Reporting Servicer’s assessment of compliance
with the Relevant Servicing Criteria applicable to it was fairly stated in all material respects. In the event that an overall
opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such
an opinion. Each such related accountant’s attestation report shall be made in accordance with Rules 1-02(a)(3) and 2-02(g)
of Regulation S-X under the Securities Act and the Exchange Act. Such report must be available for general use and not contain
restricted use language. With respect to any Non-Serviced Companion Loan, the Certificate Administrator will use its reasonable
efforts to procure such report from the applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced
Trustee. Copies of such statement will be provided by the Certificate Administrator in accordance with Section 3.15(b).
Such report shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor, the Certificate
Administrator and the providing parties.

 

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Promptly
after receipt of such report from the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Senior
Trust Advisor, the Custodian or any Servicing Function Participant, (i) the Depositor may review the report and, if applicable,
consult with the Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor, the Custodian or the Certificate
Administrator as to the nature of any defaults by the Master Servicer,
the Special Servicer, the Trustee, the Senior Trust Advisor, the Custodian, the Certificate Administrator, or any Servicing Function
Participant with which it has entered into a servicing relationship with respect to the Mortgage Loans, as the case may be, in
the fulfillment of any of the Master Servicer’s, the Special Servicer’s, the Trustee’s, the Certificate Administrator’s,
the Senior Trust Advisor’s, the Custodian’s or the applicable Servicing Function Participants’ obligations hereunder
or under the applicable sub servicing or primary servicing agreement, and (ii) the Certificate Administrator shall confirm that
each accountants’ attestation report submitted pursuant to this Section relates to an assessment of compliance meeting the
requirements of Section 11.10 and notify the Depositor of any exceptions. None of the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator, the Senior Trust Advisor, the Custodian nor any Additional Servicer shall be required
to deliver, or shall be required to cause the delivery of such reports until April 15th in any given year so long as it has received
written confirmation from the Depositor that a Form 10-K is not required to be filed with respect to the Trust for the preceding
fiscal year.

 

Section
11.12     Indemnification. Each of the Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Custodian and the Senior Trust Advisor shall indemnify and hold harmless each Certification Party
from and against any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments
and other costs and expenses incurred by such Certification Party arising out of (i) an actual breach by the Master Servicer,
the Special Servicer, the Trustee, the Senior Trust Advisor, the Custodian or the Certificate Administrator, as the case may be,
of its obligations under this Article XI, (ii) negligence, bad faith or willful misconduct on the part of the Master Servicer,
the Special Servicer, the Trustee, the Senior Trust Advisor, the Custodian or the Certificate Administrator in the performance
of such obligations, or (iii) delivery of any Deficient Exchange Act Deliverable.

 

The
Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor and the Certificate Administrator shall (i) with
respect to any Initial Sub-Servicer engaged by the Master Servicer, Special Servicer, Trustee or Certificate Administrator that
is a Servicing Function Participant or Additional Servicer, use commercially reasonable efforts to cause such party to, and (ii)
with respect to each other Additional Servicer and each Servicing Function Participant with which, in each case, it has entered
into a servicing relationship with respect to the Mortgage Loans, cause such party to, in each case, indemnify and hold harmless
each Certification Party from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses
and related costs, judgments and any other costs, fees and expenses incurred by such Certification Party arising out of (a) a
breach of its obligations to provide any of the annual compliance statements or annual assessment of compliance with the servicing
criteria or attestation reports pursuant to the applicable sub-servicing or primary servicing agreement, (b) negligence, bad faith
or willful misconduct on its part in the performance of such obligations, (c) any failure by it, as a Servicer (as defined in
Section 11.02(b)) to identify a Servicing Function Participant pursuant to Section 11.02(c), or (d) delivery of
any Deficient Exchange Act Deliverable.

 

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In
addition, each of the Master Servicer, the Special Servicer, the Senior Trust Advisor, the Custodian, the Certificate
Administrator and the Trustee shall cooperate (and require each Servicing Function Participant and Additional Servicer
retained by it to cooperate under the applicable Sub-Servicing Agreement) with the Depositor as necessary for the Depositor
to conduct any reasonable due diligence necessary to evaluate and assess any material instances of non-compliance disclosed
in any of the deliverables required by the applicable reporting requirements under the Securities Act, the Exchange Act, the
Sarbanes-Oxley Act and the rules and regulations promulgated thereunder (“Reporting
Requirements”).

 

In
connection with comments provided to the Depositor from the Commission or its staff regarding information (x) delivered by the
Master Servicer, the Special Servicer, the Senior Trust Advisor, the Custodian, the Certificate Administrator, the Trustee, a
Servicing Function Participant or an Additional Servicer, as applicable (“Affected Reporting Party”), (y) regarding
such Affected Reporting Party, and (z) prepared by such Affected Reporting Party or any registered public accounting firm, attorney
or other agent retained by such Affected Reporting Party to prepare such information, which information is contained in a report
filed by the Depositor under the Reporting Requirements and which comments are received subsequent to the Depositor's filing of
such report, the Depositor shall promptly provide to such Affected Reporting Party any such comments which relate to such Affected
Reporting Party. Such Affected Reporting Party shall be responsible for timely preparing a written response to the Commission
or its staff for inclusion in the Depositor’s response to the Commission or its staff, unless such Affected Reporting Party
elects, with the consent of the Depositor (which consent shall not be unreasonably denied, withheld or delayed), to directly communicate
with the Commission or its staff and negotiate a response and/or resolution with the Commission or its staff; provided,
however, if an Affected Reporting Party is a Servicing Function Participant or Additional Servicer retained by the Master
Servicer, the Master Servicer shall receive copies of all material communications pursuant to this Section 11.12.
If such election is made, the applicable Affected Reporting Party shall be responsible for directly negotiating such response
and/or resolution with the Commission or its staff in a timely manner; provided, that (i) such Affected Reporting Party
shall use reasonable efforts to keep the Depositor informed of its progress with the Commission or its staff and copy the Depositor
on all correspondence with the Commission or its staff and provide the Depositor with the opportunity to participate (at the Depositor’s
expense) in any telephone conferences and meetings with the Commission or its staff and (ii) the Depositor shall cooperate with
any Affected Reporting Party in order to authorize such Affected Reporting Party and its representatives to respond to and negotiate
directly with the Commission or its staff with respect to any comments from the Commission or its staff relating to such Affected
Reporting Party and to notify the Commission or its staff of such authorization. The Depositor and the Affected Reporting Party
shall cooperate and coordinate with one another with respect to any requests made to the Commission or its staff for extension
of time for submitting a response or compliance. All respective reasonable out-of-pocket costs and expenses incurred by the Depositor
(including reasonable legal fees and expenses of outside counsel to the Depositor) in connection with the foregoing (other than
those costs and expenses required to be at the Depositor’s expense as set forth above) and any amendments to any reports
filed with the Commission or its staff related thereto shall be promptly paid by the applicable Affected Reporting Party upon
receipt of an itemized invoice from the Depositor. Each of the Master Servicer, the Special Servicer, the Senior Trust Advisor,
the Custodian, the Certificate Administrator and the Trustee shall (i) with respect to any Initial

 

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Sub-Servicer
engaged by it that is a Servicing Function Participant or Additional Servicer, use commercially reasonable efforts to cause such
party to, and (ii) with respect to each other Additional Servicer and each Servicing Function Participant with which, in
each case, it has entered into a servicing relationship with respect to the Mortgage Loans, cause such party to, comply
with the foregoing by inclusion of similar provisions in the related sub-servicing or similar agreement. Upon resolution with
the Commission, the Affected Reporting Party shall promptly provide, to each Other Depositor the appropriate revised reports,
updated or revised information contained in any report filed by the Other Depositor under the Reporting Requirements, or any updated
or revised material communications in connection with the response and/or resolution with the Commission or its staff, if and
to the extent such reports, information and/or communications relate to information that was previously provided to the Other
Depositor and would reasonably be expected to be contained in a report filed by the Other Depositor under the Reporting Requirements
of an Other Pooling and Servicing Agreement.

 

If
the indemnification provided for herein is unavailable or insufficient to hold harmless any Certification Party, then the Master
Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian or the Senior Trust Advisor (the “Performing
Party”) shall contribute to the amount paid or payable to the Certification Party as a result of the losses, claims,
damages or liabilities of the Certification Party in such proportion as is appropriate to reflect the relative fault of the Certification
Party on the one hand and the Performing Party on the other in connection with a breach of the Performing Party’s obligations
pursuant to Sections 11.06, 11.09 (if applicable), 11.10, 11.11 (or breach of its obligations
under the applicable sub-servicing or primary servicing agreement to provide any of the annual compliance statements or annual
servicing criteria compliance reports or attestation reports) or the Performing Party’s negligence, bad faith or willful
misconduct in connection therewith. The Master Servicer, the Special Servicer, the Trustee, the Senior Trust Advisor and the Certificate
Administrator shall (i) with respect to any Initial Sub-Servicer engaged by the Master Servicer, Special Servicer, Trustee
or Certificate Administrator that is a Servicing Function Participant or Additional Servicer, use commercially reasonable efforts
to cause such party to, and (ii) with respect to each other Additional Servicer or Servicing Function Participant, in each
case, with which it has entered into a servicing relationship with respect to the Mortgage Loans cause such party, in each case,
to agree to the foregoing indemnification and contribution obligations. This Section 11.12 shall survive the termination
of this Agreement or the earlier resignation or removal of the Master Servicer, the Special Servicer, the Trustee, the Senior
Trust Advisor, the Custodian or the Certificate Administrator.

 

Section 11.13
Amendments. This Article XI may be amended with the written consent of the parties hereto pursuant to Section 12.01
for purposes of complying with Regulation AB and/or to conform to standards developed within the commercial mortgage-backed
securities market and the Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates, Rating Agency Confirmation
with respect to the Certificates or, with respect to any Serviced Companion Loan Securities, a confirmation of the rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that
such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30), or the consent of any Certificateholder, notwithstanding
anything to the contrary contained in this Agreement; provided that the reports and certificates

 

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required
to be prepared pursuant to Sections 3.15, 11.09, 11.10 and 11.11 shall not be eliminated without
Rating Agency Confirmation with respect to the Certificates or, with respect to any Serviced Companion Loan Securities, without
a confirmation of the rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings (provided that such rating agency confirmation may
be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates
pursuant to Section 3.30).

 

Section 11.14
Regulation AB Notices. Any notice, report or certificate required to be delivered by any of the Master Servicer, the
Special Servicer, the Certificate Administrator, the Senior Trust Advisor, the Custodian or the Trustee, as the case may be, to
the Depositor pursuant to this Article XI may be delivered via email (and additionally delivered via phone or telecopy),
notwithstanding the provisions of Section 12.05, to J.P. Morgan Chase Commercial Mortgage Securities Corp., 383 Madison
Avenue, 31st Floor, New York, New York 10179, Attention: Kunal Singh, telecopy number: (212) 834-6029, telephone number: (212)
834-5491 and email: kunal.k.singh@jpmorgan.com, with a copy to Bianca Russo, Managing Director and Associate General Counsel,
J.P. Morgan Chase Commercial Mortgage Securities Corp., 383 Madison Avenue, 32nd Floor, New York, New York 10179, telecopy number:
(917) 464-6116, telephone number: (212) 648-0946 and email: russo_bianca@jpmorgan.com.

 

Section 11.15Certain
Matters Relating to the Future Securitization of the Serviced Pari Passu Companion Loans. (a) Each of the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer and the Special Servicer shall use
commercially reasonable efforts to cause any sub-servicer appointed with respect to any Serviced Pari Passu Companion Loan to,
upon written request or notice from a Mortgage Loan Seller (or a permitted transferee of such Mortgage Loan Seller pursuant to
the related Intercreditor Agreement), reasonably cooperate with the Mortgage Loan Seller (or such permitted transferee) selling
any Serviced Pari Passu Companion Loan into a securitization that is required to comply with Regulation AB (a “Regulation
AB Companion Loan Securitization”) and, to the extent needed in order to comply with Regulation AB, provide to the Mortgage
Loan Seller (or such permitted transferee) information about itself that such Mortgage Loan Seller reasonably requires to meet
the requirements of Items 1117 and 1119 and paragraphs (b), (c)(2) (prior to deposit in the Certificate Account), (c)(3), (c)(4)
and (c)(5) of Item 1108 of Regulation AB and shall reasonably cooperate with such Mortgage Loan Seller to provide such other information
as may be reasonably necessary to comply with the requirements of Regulation AB. Each of the Trustee, the Certificate Administrator,
the Master Servicer and the Special Servicer understands that such information may be included in the offering material related
to a Regulation AB Companion Loan Securitization and agrees to (i) negotiate in good faith an agreement (subject to the final
sentence of this sub-section) to indemnify and hold the related depositor and underwriters involved in the offering of the related
Certificates, together with certain officers, directors, affiliates and controlling persons, harmless for any costs, liabilities,
fees and expenses incurred by the depositor or such underwriters as a result of any material misstatements or omissions or alleged
material misstatements or omissions in any such offering material to the extent that such material misstatement or omission was
made in reliance upon any such information provided by the Trustee (where such information pertains to the Trustee individually
and not to any specific aspect of the Trustee’s duties or obligations under this Agreement), the Certificate Administrator
(where such information pertains to the Certificate

 

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Administrator
individually and not to any specific aspect of the Certificate Administrator’s duties or obligations under this Agreement),
the Master Servicer (where such information pertains to the Master Servicer individually and not to any specific aspect of the
Master Servicer’s duties or obligations under this Agreement) and the Special Servicer (where such information pertains
to the Special Servicer individually and not to any specific aspect
of the Special Servicer’s duties or obligations under this Agreement), as applicable, to such depositor, underwriters or
Mortgage Loan Seller (or permitted transferee) as required by this clause (a) and (ii) deliver such opinion(s) of
counsel, certifications and/or indemnification agreement(s) (to the extent the cost thereof is paid by the related Mortgage Loan
Seller) with respect to such information that are substantially similar to those delivered with respect to the offering material
for this securitization by the Master Servicer or the Special Servicer, Trustee and Certificate Administrator, as the case may
be, or their respective counsel, in connection with the information concerning such party in the offering material related to
a Regulation AB Companion Loan Securitization. Notwithstanding the foregoing, to the extent that the information provided by the
Trustee, the Certificate Administrator the Master Servicer or the Special Servicer, as applicable, for inclusion in the offering
materials related to such Regulation AB Companion Loan Securitization is substantially and materially similar to the information
provided by such party with respect to the offering materials related to this transaction, subject to any required changes due
to any amendments to Regulation AB or any changes in the interpretation of Regulation AB, such party shall be deemed to be in
compliance with this Section 11.15(a). Any indemnification agreement executed by the Trustee, the Certificate Administrator,
the Master Servicer or Special Servicer in connection with the Regulation AB Companion Loan Securitization shall be substantially
similar to the related indemnification agreement executed in connection with this Agreement. It shall be a condition precedent
to any party’s obligations otherwise set forth above that the applicable Mortgage Loan Seller (or permitted transferee)
shall have (a) provided reasonable advance notice (and, in any event, not less than 10 Business Days) of the exercise of
its rights hereunder and (b) paid, or entered into reasonable agreement to cause to be paid, the reasonable out-of-pocket
expenses (including reasonable fees and expenses of counsel) incurred by such party in reviewing and/or causing the delivery of
any disclosure, opinion of counsel or indemnification agreement.

 

(b)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer and
the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect
to a Serviced Securitized Companion Loan to, upon request or notice from such parties (which request or notice may be given once
at the closing of such Regulation AB Companion Loan Securitization instead of each time a filing is required), cooperate with
the depositor, trustee, certificate administrator, master servicer or special servicer for any Regulation AB Companion Loan Securitization
in preparing each Form 10-D and Form 10-K required to be filed by such Regulation AB Companion Loan Securitization (until January
30 of the first year in which the trustee or other applicable party for such Regulation AB Companion Loan Securitization files
a Form 15 Suspension Notice with respect to the related trust) and shall provide to such depositor, trustee, certificate administrator
or master servicer within the time period set forth in the Other Pooling and Servicing Agreement (so long as such time period
is no earlier than the time periods set forth herein) for such Regulation AB Companion Loan Securitization such information relating
to a Serviced Securitized Companion Loan as may be reasonably necessary for the depositor, trustee, certificate administrator
and master servicer of

 

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the
Regulation AB Companion Loan Securitization to comply with the reporting requirements of Regulation AB and the Exchange Act; provided,
however, that any parties to any Regulation AB Companion Loan Securitization shall consult with the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer (and Master Servicer and the Special Servicer shall each consult with
any sub-servicer appointed by it with respect to the related Serviced Whole Loan), and the Trustee, the Certificate Administrator,
such Master Servicer and the Special Servicer shall cooperate with such parties in respect of establishing the time periods for
preparation of the Form 10-D reports in the documentation for such Regulation AB Companion Loan Securitization. Notwithstanding
the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as the case
may be, complies in all material respects with the timing, reporting and attestation requirements imposed on such party in Article
XI of this Agreement (other than this Section 11.15) with respect to the comparable timing, reporting and attestation
requirements contemplated in this Section 11.15(b) with respect to such Regulation AB Companion Loan Securitization, such
party shall be deemed to be in compliance with the provisions of this Section 11.15(b).

 

(c)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer and
the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect
to a Serviced Securitized Companion Loan to, upon request or notice from such trustee or certificate administrator (which request
or notice may be given once at the closing of such Regulation AB Companion Loan Securitization instead of each time a filing is
required), provide the trustee or certificate administrator, as applicable, under a Regulation AB Companion Loan Securitization
(until January 30 of the first year in which the trustee or certificate administrator, as applicable, for such Regulation AB Companion
Loan Securitization files a Form 15 Suspension Notice with respect to the related trust) information with respect to any event
that is required to be disclosed under Form 8-K with respect to a Serviced Securitized Companion Loan within two (2) Business
Days after the occurrence of such event of which it has knowledge. Notwithstanding the foregoing, to the extent the Trustee, the
Certificate Administrator, the Master Servicer or the Special Servicer, as the case may be, complies in all material respects
with the timing, reporting and attestation requirements imposed on such party in Article XI of this Agreement (other than this
Section 11.15) with respect to the comparable timing, reporting and attestation requirements contemplated in this
Section 11.15(c) with respect to such Regulation AB Companion Loan Securitization, such party shall be deemed to be in
compliance with the provisions of this Section 11.15(c).

 

(d)          On
or before March 15 of each year (or March 14 if a leap year) during which a Regulation AB Companion Loan Securitization is required
to file an annual report on Form 10-K (and on or before April 15 of any year in which such Regulation AB Companion Loan Securitization
is not required to file an annual report on Form 10-K because a Form 15 Suspension Notice with respect to the related trust was
filed), each of the Trustee, the Master Servicer and the Special Servicer shall, and the Master Servicer and the Special Servicer
shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect to a Serviced Securitized
Companion Loan to, upon request or notice from such trustee or certificate administrator (which request or notice may be given
once at the closing of such Regulation AB Companion Loan Securitization instead of each time a filing is required), provide, with
respect to itself, to the trustee or certificate administrator, as applicable, under such

 

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Regulation
AB Companion Loan Securitization, to the extent required pursuant to Item 1122 of Regulation AB, (i) a report on an assessment
of compliance with the servicing criteria to the extent required pursuant to Item 1122(a) of Regulation AB, (ii) a registered
accounting firm’s attestation report on such Person’s assessment of compliance with the applicable servicing
criteria to the extent required pursuant to Item 1122(b) of Regulation
AB and (iii) such other information as may be required pursuant to Item 1122(c) of Regulation AB. Notwithstanding the foregoing,
to the extent the Master Servicer or the Special Servicer, as the case may be, complies in all material respects with the timing,
reporting and attestation requirements imposed on such party in Article XI of this Agreement (other than this Section 11.15)
with respect to the comparable timing, reporting and attestation requirements contemplated in this Section 11.15(d) with
respect to such Regulation AB Companion Loan Securitization, such party shall be deemed to be in compliance with the provisions
of this Section 11.15(d).

 

(e)          On
or before March 15 of each year during which a Regulation AB Companion Loan Securitization is required to file an annual report
on Form 10-K (and on or before April 15 of any year in which such Regulation AB Companion Loan Securitization is not required
to file an annual report on Form 10-K because a Form 15 Suspension Notice with respect to the related trust was filed), each of
the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer and the
Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect
to a Serviced Securitized Companion Loan to, to the extent required pursuant to Item 1123 of Regulation AB, deliver, with respect
to itself, to the trustee or certificate administrator under the such Regulation AB Companion Loan Securitization, upon request
or notice from such trustee (which request or notice may be given once at the closing of such Regulation AB Companion Loan Securitization
instead of each time a filing is required), under such Regulation AB Companion Loan Securitization a servicer compliance statement
signed by an authorized officer of such Person that satisfies the requirements of Item 1123 of Regulation AB. Notwithstanding
the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as the case
may be, complies in all material respects with the timing, reporting and attestation requirements imposed on such party in Article
XI of this Agreement (other than this Section 11.15) with respect to the comparable timing, reporting and attestation
requirements contemplated in this Section 11.15(e) with respect to such Regulation AB Companion Loan Securitization, such
party shall be deemed to be in compliance with the provisions of this Section 11.15(e).

 

(f)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall use commercially reasonable
efforts to cause a Servicing Function Participant to agree (severally but not jointly) to indemnify (such indemnity limited to
each such parties respective failure described below) and hold the related Mortgage Loan Seller (or permitted transferee), depositor,
sponsor(s), trustee, certificate administrator or master servicer under a Regulation AB Companion Loan Securitization harmless
for any costs, liabilities, fees and expenses incurred by such Mortgage Loan Seller, depositor, sponsor(s), trustee, certificate
administrator or master servicer as a result of any failure by the Servicing Function Participant to comply with the reporting
requirements to the extent applicable set forth under Sections 11.15(b), (c), (d) or (e) above.

 

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Any
subservicing agreement related to a Serviced Securitized Companion Loan shall contain a provision requiring the related Sub-Servicer
to provide to the Master Servicer or Special Servicer, as applicable, information, reports, statements and certificates with respect
to itself and such Serviced Securitized Companion Loan comparable to any information, reports, statements or certificates required
to be provided by the Master Servicer or Special Servicer pursuant
to this Section 11.15, even if such Sub-Servicer is not otherwise required to provide such information, reports or
certificates to any Person in order to comply with Regulation AB. Such information, reports or certificates shall be provided
to the Master Servicer or Special Servicer, as applicable, no later than two (2) Business Days prior to the date on which the
Master Servicer or Special Servicer, as applicable, is required to deliver its comparable information, reports, statements or
certificates pursuant to this Section 11.15.

  

(g)          With
respect to any Mortgaged Property that secures a Serviced Companion Loan that the applicable Other Depositor has notified the
Master Servicer and Special Servicer in writing is a “significant obligor” (within the meaning of Item 1101(k) of
Regulation AB) with respect to an Other Securitization that includes such Serviced Companion Loan, to the extent that the Master
Servicer is in receipt of the updated financial statements of such “significant obligor” for any calendar quarter
(other than the fourth calendar quarter of any calendar year) from the Mortgagor or Special Servicer, beginning with the first
calendar quarter following receipt of such notice from the Other Depositor, or the updated financial statements of such “significant
obligor” for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable,
the Master Servicer shall deliver to the Other Depositor, on or prior to the day that occurs two (2) Business Days prior to the
related “significant obligor” NOI Quarterly Filing Deadline or seven (7) Business Days prior to the related Significant
Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business
Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the
related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the “significant obligor”,
together with the net operating income of such “significant obligor” for the applicable period as calculated by the
Master Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12)
Business Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than seventeen (17) Business Days
prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the “significant
obligor”, together with the net operating income of such “significant obligor” for the applicable period as
reported by the related Mortgagor in such financial statements.] 

If the Master Servicer
does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the
case may be, of such “significant obligor” within ten Business Days after the date such financial information is required
to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Other Depositor with respect to
such Other Securitization that includes the related Companion Loan (and shall cause each applicable Sub-Servicing Agreement to
require any related Sub-Servicer to notify such Other Depositor) that it has not received such financial information. The Master
Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations
of such Other Depositor under the

 

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Exchange
Act) to obtain the periodic financial statements of the related Mortgagor under the related Mortgage Loan documents.

 

The
Master Servicer shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain
written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Mortgagor related to such “significant
obligor” to obtain the required financial information and is unsuccessful and, within five (5) Business Days prior to the
date in which a Form 10-D or Form 10-K, as applicable, is required to be filed with respect to the Other Securitization, shall
forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting
Party and Other Depositor related to such Other Securitization. This Officer’s Certificate should be addressed to the certificate
administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement. 

(h)            
If any Other Securitization includes a Serviced Companion Loan and is subject to the reporting requirements of the Exchange
Act, then the obligations of the parties hereto set forth in this Article XI with respect such Other Securitization shall
remain in full force and effect notwithstanding that the Trust may cease to be subject to the reporting requirements of the Exchange
Act.

Section 11.16      
Certain Matters Regarding Significant Obligors.

 

For
the avoidance of doubt, there is no significant obligor (“Significant Obligor”) related to the Trust.

 

Section 11.17
Impact of Cure Period. For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject
to a Servicer Termination Event pursuant to clause (iii) of the definition thereof prior to the expiration of the
grace period applicable to such party’s obligations under this Article XI as provided for in such clause (iii)
nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this
Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI
by the expiration of any applicable grace period such failure shall constitute a Servicer Termination Event. Neither the Master
Servicer nor the Special Servicer shall be subject to a Servicer Termination Event pursuant to clause (iii) of the
definition thereof prior to the expiration of the grace period applicable to such party’s obligations under this Article XI
as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement,
for failing to deliver any item required under this Article XI by the time required hereunder with respect to any
reporting period for which the Trust (or any trust in a related Other Securitization) is not required to file Exchange Act reports.

 

[End
of Article XI]

 

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Article XII

MISCELLANEOUS PROVISIONS

 

Section 12.01
Amendment. (a)  This Agreement may be amended from time to time by the parties hereto, without the consent of
any of the Certificateholders or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in this Agreement in order to address any manifest error in any provision of this Agreement;

 

(ii)         to
cause the provisions in this Agreement to conform or be consistent with or in furtherance of the statements made in the Prospectus
Supplement with respect to the Certificates, the Trust or this Agreement or to correct or supplement any of its provisions which
may be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) or any other provision hereof restricting transfer of
the Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion
of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject to
a federal tax caused by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under this Agreement or any other change; provided
that the required action shall not adversely affect in any material respect the interests of any Certificateholder or any
holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in

 

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writing
by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30);

 

(vii)       to
amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of
Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.30); provided that such amendment or supplement shall not adversely affect in any material respect
the interests of any Certificateholder not consenting thereto as evidenced by an Opinion of Counsel;

 

(viii)      to
modify the provisions of Sections 3.05 and 3.19 (with respect to reimbursement of Nonrecoverable Advances and
Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a
Control Event has not occurred and is not continuing, the Directing Certificateholder,
determine that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform
to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC or the
status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion of Counsel
and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.30); and

 

(ix)         to
modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that
such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by (x) an
Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such
amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section 3.15(c)
and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website.

 

    	-351-

    	 

    

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement
or the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of
any Mortgage Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

(b)          This
Agreement may also be amended from time to time by the parties hereto with the consent of the Holders of Certificates of each
Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage Interests constituting
the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then-outstanding or such Companion Holders, as applicable; or 

 

(iii)         adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)         change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
hereunder, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30) and, if required under the related Intercreditor
Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

(c)          Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment hereto without having first received an

 

    	-352-

    	 

    

 

Opinion
of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted hereunder and that such amendment
or the exercise of any power granted to the Master Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate
Administrator or any other specified person in accordance with such amendment will not result in the imposition of a tax on any
portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to qualify as a REMIC or cause the Grantor Trust
to fail to qualify as a grantor trust under the relevant provisions of the Code. Furthermore, no amendment to this Agreement may
be made that changes any provision specifically required to be included in this Agreement by (i) the One City Centre Intercreditor
Agreement, (ii) the JAGR Portfolio Intercreditor Agreement and (iii) the Marriott-Pittsburgh Intercreditor Agreement without the
consent of the holder of the related Serviced Pari Passu Companion Loan.

 

(d)          Promptly
after the execution of any amendment to this Agreement, the Certificate Administrator shall post a copy of the same to the Certificate
Administrator’s Website, deliver a copy of the same to the 17g-5 Information Provider who shall post a copy of the same
on the 17g-5 Information Provider’s Website pursuant to Section 3.15(b) and Section 3.15(c), as
applicable, and thereafter, the Certificate Administrator shall furnish written notification of the substance of such amendment
to each Certificateholder and each Serviced Companion Noteholder, the Depositor, the Master Servicer, the Special Servicer, the
Mortgagors, the Underwriters and the Rating Agencies. 

 

(e)          It
shall not be necessary for the consent of Certificateholders under this Section 12.01 to approve the particular form
of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Certificate Administrator may prescribe.

 

(f)          The
Trustee and the Certificate Administrator shall not be obligated to enter into any amendment pursuant to this Section 12.01
that affects its rights, duties and immunities under this Agreement or otherwise.

 

(g)         The
cost of any Opinion of Counsel to be delivered pursuant to Section 12.01(a) or (c) shall be borne by the Person
seeking the related amendment, except that if the Master Servicer, the Certificate Administrator or the Trustee requests any amendment
of this Agreement in furtherance of the rights and interests of Certificateholders, the cost of any Opinion of Counsel required
in connection therewith pursuant to Section 12.01(a) or (c) shall be payable out of the Certificate Account.

 

(h)         The
Servicing Standard shall not be amended unless each Rating Agency provides Rating Agency Confirmation and, with respect to any
class of Serviced Companion Loan Securities, the applicable rating agencies provide a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then-current ratings, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.30).

 

    	-353-

    	 

    

 

(i)          To
the extent the Senior Trust Advisor, the Trustee, Certificate Administrator, Master Servicer, Special Servicer or Depositor obtains
an Opinion of Counsel as provided for in Section 12.01(c) in connection with executing any amendment to this Agreement,
such party shall be deemed not to have acted negligently in connection with entering into such amendment for purposes of availing
itself of any indemnity provided to such party under this Agreement.

 

(j)          Notwithstanding
any other provision of this Agreement, for purposes of the giving or withholding of consents pursuant to this Section 12.01,
Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights
with respect to matters described above as they would if any other Person held such Certificates, so long as neither the Depositor
nor any of its Affiliates is performing servicing duties with respect to any of the Mortgage Loans.

 

(k)         This
Agreement may not be amended without the consent of any holder of an AB Subordinate Companion Loan if such amendment would materially
and adversely affect the rights of such Companion Holder hereunder.

 

Section 12.02 Recordation
of Agreement; Counterparts. (a) To the extent permitted by applicable law, this Agreement is subject to recordation in
all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or
all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere,
such recordation to be effected by the Certificate Administrator at the expense of the Depositor on direction by the Special Servicer
and with the consent of the Depositor (which may not be unreasonably withheld), but only upon direction accompanied by
an Opinion of Counsel (the cost of which shall be paid by the Depositor)
to the effect that such recordation materially and beneficially affects the interests of the Certificateholders.

 

(b)          For
the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this
Agreement in Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed
original counterpart of this Agreement.

 

(c)          The
Trustee shall make any filings required under the laws of the state of its place of business required solely by virtue of the
fact of the location of the Trustee’s place of business, the costs of which, if any, to be at the Trustee’s expense.

 

Section 12.03 Limitation
on Rights of Certificateholders. (a) The death or incapacity of any Certificateholder shall not operate to terminate
this Agreement or the Trust Fund, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting
or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights,
obligations and liabilities of the parties hereto or any of them.

 

    	-354-

    	 

    

 

(b)          No
Certificateholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the
operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or
contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners
or members of an association; nor shall any Certificateholder be under any liability to any third party by reason of any action
taken by the parties to this Agreement pursuant to any provision hereof.

 

(c)          No
Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding
in equity or at law upon or under or with respect to this Agreement, any Intercreditor Agreement or any Mortgage Loan, or with
respect to the Certificates, unless, with respect to any suit, action or proceeding upon or under or with respect to this Agreement,
such Holder previously shall have given to the Trustee and the Certificate Administrator a written notice of default, and of the
continuance thereof, as herein before provided, or of the need to institute such suit, action or proceeding on behalf of the Trust
and unless also (except in the case of a default by the Trustee) the Holders of Certificates of any Class evidencing not less
than 25% of the related Percentage Interests in such Class shall have made written request upon the Trustee to institute such
action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for sixty (60)
days after its receipt of such notice, request and offer of such indemnity, shall have neglected or refused to institute any such
action, suit or proceeding. The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it hereunder
or to institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or direction of any of
the Holders of Certificates unless such Holders have offered to the Trustee reasonable security against the costs, expenses and
liabilities which may be incurred therein or hereby. It is understood and intended, and expressly covenanted by each Certificateholder
with every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner
whatsoever by virtue of any provision of this Agreement or the Certificates to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder,
which priority or preference is not otherwise provided for herein, or to enforce any right under this Agreement or the Certificates,
except in the manner herein or therein provided and for the equal, ratable and common benefit of all Certificateholders. For the
protection and enforcement of the provisions of this Section 12.03(c), each and every Certificateholder and the Trustee
shall be entitled to such relief as can be given either at law or in equity.

 

Section 12.04
Governing Law; Submission to Jurisdiction; 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. THE PARTIES HERETO INTEND THAT THE
PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

    	-355-

    	 

    

 

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

 

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

 

Section 12.05
Notices. (a) Any communications provided for or permitted hereunder shall be in writing and, unless otherwise expressly
provided herein, shall be deemed to have been duly given if personally delivered at or couriered, sent by facsimile transmission
(other than with respect to the Mortgage Loan Sellers) or mailed by registered mail, postage prepaid (except for notices to the
Mortgage Loan Sellers, the Master Servicer the Certificate Administrator and the Trustee which shall be deemed to have been duly
given only when received), to:

	 	 	 
	 	In the case of the Depositor:
	 	 	 
	 	 	J.P. Morgan Chase Commercial Mortgage Securities
    Corp.
	 	 	383 Madison Avenue
	 	 	31st Floor
	 	 	New York, New York 10179
	 	 	Attention: Kunal K. Singh
	 	 	E-mail: kunal.k.singh@jpmorgan.com
	 	 
	 	with a copy to:
	 	 	 
	 	 	J.P. Morgan Chase Commercial Mortgage Securities
    Corp.
	 	 	383 Madison Avenue
	 	 	32nd Floor
	 	 	New York, New York 10179
	 	 	Attention: Bianca A. Russo
	 	 	Managing Director and Associate General
    Counsel
	 	 	Telecopy number: (917) 464-6116
	 	 	E-mail: russo_bianca@jpmorgan.com

 

    	-356-

    	 

    

 

	 	 
	 	In the case of the Master Servicer:
	 	 	 
	 	 	Wells Fargo Bank, National Association
	 	 	Commercial Mortgage Servicing
	 	 	MAC D1086-120, 550 South Tryon Street,
    14th Floor
	 	 	Charlotte, North Carolina 28202
	 	 	Attention: JPMBB 2015-C29 Asset Manager
	 	 	Telecopy Number: (704) 715-0036
	 	 
	 	with a copy to:
	 	 	 
	 	 	Wells Fargo Bank, National Association
    Legal Department
	 	 	301 S. College St., TW-30
	 	 	Charlotte, North Carolina 28202
	 	 	Attention: Commercial Mortgage Servicing
    Legal Support
	 	 	Reference: JPMBB 2015-C29

	 	 	 
	 	with a copy to:
	 	 	 
	 	 	K&L Gates LLP
	 	 	Hearst Tower, 47th Floor
	 	 	214 North Tryon Street
	 	 	Charlotte, North Carolina 28202
	 	 	Attention: Stacy G. Ackermann
	 	 	Facsimile Number: (704) 353-3190
	 	 
	 	In the case of the Special
    Servicer:
	 	 	 
	 	 	Midland Loan Services, a Division of PNC
    Bank, National Association
	 	 	10851 Mastin Street
	 	 	Overland Park, Kansas 66210
	 	 	Attention: Executive Vice President –
    Division Head
	 	 	Telecopy number: (913) 253-9001
	 	 
	 	with a copy to:
	 	 	 
	 	 	Stinson Leonard Street LLP
	 	 	1201 Walnut Street
	 	 	Suite 2900
	 	 	Kansas City, Missouri 64106-2150
	 	 	Fax Number: (816) 412-9338
	 	 	Attention: Kenda K. Tomes
	 	 	Email: kenda.tomes@stinsonleonard.com

 

    	-357-

    	 

    

 

	 	 
	 	In the case of the Directing
    Certificateholder:
	 	 	 
	 	 	BlackRock Realty Advisors, Inc., as agent
    for its managed accounts
	 	 	40 East 52nd Street
	 	 	New York, NY 10022
	 	 	Attention: Paul Horowitz
	 	 	Telecopy number: (212) 810-8758
	 	 	Email: paul.horowitz@blackrock.com
	 	 
	 	In the case of the Trustee:
	 	 	 
	 	 	Wilmington Trust, National Association
	 	 	1100 North Market Street
	 	 	Wilmington, Delaware 19890
	 	 	Attention: JPMBB 2015-C29
	 	 	Telecopy number: (302) 636-4140
	 	 	Email: CMBSTrustee@wilmingtontrust.com

	 	 	 
	 	In the case of the Certificate
    Administrator:
	 	 
	 	 	Wells Fargo Bank, National Association
	 	 	9062 Old Annapolis Road
	 	 	Columbia, Maryland 21045 1951
	 	 	Attention: Corporate Trust Services (CMBS)
	 	 	JPMBB Commercial Mortgage Securities Trust
    Series 2015- C29
	 	 	Telecopy Number: (410) 715 2380
	 	 	E-Mail: cts.cmbs.bond.admin@wellsfargo.com,
    and to trustadministrationgroup@wellsfargo.com, except as otherwise set forth herein
	 	 	 
	 	In the case of the Mortgage
    Loan Sellers:
	 	 
	 	(i)	JPMorgan Chase Bank, National Association
	 	 	383 Madison Avenue
	 	 	New York, New York 10179
	 	 	Attention: Joseph E. Geoghan
	 	 	E-mail: joseph.geoghan@jpmorgan.com
	 	 	 
	 	(ii)	Barclays Bank PLC
	 	 	745 Seventh Avenue
	 	 	New York, New York 10019
	 	 	Facsimile Number: (646) 758-1700
	 	 	Attention: Daniel Vinson, Managing Director
	 	 	E-mail: daniel.vinson@barclays.com

 

    	-358-

    	 

    

 

	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	Barclays Bank PLC
	 	 	745 Seventh Avenue
	 	 	New York, New York 10019
	 	 	Facsimile Number: (212) 412-7519
	 	 	Attention: Steven P. Glynn, Legal Department
	 	 	Email: steven.glynn@barclays.com
	 	 	 
	 	(iii)	RAIT Funding LLC
	 	 	2929 Arch Street, 17th Floor
	 	 	Philadelphia, Pennsylvania 19104
	 	 	Attention: Jamie Reyle, Senior Managing
    Director – Chief Legal Officer; and
	 	 	Attention: Scott Davidson

	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	RAIT Financial Trust
	 	 	2929 Arch Street, 17th Floor
	 	 	Philadelphia, Pennsylvania 19104
	 	 	Attention: Jamie Reyle, Senior Managing
    Director – Chief Legal Officer; and
	 	 	Attention: Scott Davidson, President
	 	 	 
	 	(iv)	Starwood Mortgage Funding II LLC
	 	 	1601 Washington Avenue, Suite 800
	 	 	Miami Beach, Florida 33139
	 	 	Facsimile Number: (305) 695-5449
	 	 	Attention: Leslie K. Fairbanks, Executive
    Vice President
	 	 	Email: lfairbanks@starwood.com
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	LNR Property LLC
	 	 	1601 Washington Avenue, Suite 800
	 	 	Miami Beach, Florida 33139
	 	 	Facsimile Number: (305) 695-5449
	 	 	Attention: Vincent P. Kallaher, Senior
    Vice President
	 	 	Email: vkallaher@lnrproperty.com
	 	 	 
	 	 	with a copy to:

 

    	-359-

    	 

    

 

	 	 	 
	 	 	LNR Property LLC
	 	 	1601 Washington Avenue, Suite 800
	 	 	Miami Beach, Florida 33139
	 	 	Facsimile Number: (305) 695-5449
	 	 	Attention: General Counsel
	 	 	Email: srivers@lnrproperty.com
	 	 	 
	 	 	and with respect to certifications pursuant
    to Section 2.02(b) of this Agreement, with a copy to:

	 	 	 
	 	 	Anderson McCoy & Orta
	 	 	100 N. Broadway, 26th Floor
	 	 	Oklahoma City, Oklahoma 73102
	 	 	Attention: Vanessa Orta
	 	 	Email: vorta@amopc.com
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	Anderson McCoy & Orta
	 	 	100 N. Broadway, 26th Floor
	 	 	Oklahoma City, Oklahoma 73102
	 	 	Attention: Marcia Moore-Allen
	 	 	Facsimile Number: (405) 236-1448
	 	 	Email: mmore-allen@amopc.com
	 	 	 
	 	(v)	Redwood Commercial Mortgage Corporation
	 	 	One Belvedere Place, Suite 300
	 	 	Mill Valley, California 94941
	 	 	Attention: Sandy Vegano
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	Dechert LLP
	 	 	1095 Avenue of the Americas
	 	 	New York, New York 10036
	 	 	Attention: Laura Swihart
	 	 	 
	 	In the case of the Senior Trust
    Advisor:
	 	 	 
	 	 	Pentalpha Surveillance LLC
	 	 	375 N. French Road, Suite 100
	 	 	Amherst, New York 14228
	 	 	Attention: Don Simon, Chief Operating Officer
	 	 	With a copy sent via email to: don.simon@pentalphasurveillance.com
    and notices@pentalphasurveillance.com

 

    	-360-

    	 

    

 

	 	 	 
	 	with a copy to:
	 	 	 
	 	 	Bass Berry & Sims PLC
	 	 	150 Third Avenue South
	 	 	Suite 2800
	 	 	Nashville, Tennessee 37201
	 	 	Attention: Jay Knight
	 	 	Email: jknight@bassberry.com

  

In
the case of any mezzanine lender:

 

The
address set forth in the related Intercreditor Agreement.

 

To
each such Person, such other address as may hereafter be furnished by such Person to the parties hereto in writing. Any communication
required or permitted to be delivered to a Certificateholder shall be deemed to have been duly given when mailed first class,
postage prepaid, to the address of such Holder as shown in the Certificate Register. Any notice so mailed within the time prescribed
in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice.

 

(b)          Any
party required to deliver any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall deliver
such written notice of the events or information specified in Section 3.15(c) to the Rating Agencies at the address
listed below, promptly following the occurrence thereof. The Master Servicer or Special Servicer, as applicable, the Certificate
Administrator, and Trustee also shall furnish such other information regarding the Trust Fund as may be reasonably requested by
the Rating Agencies to the extent such party has or can obtain such information without unreasonable effort or expense; provided,
however, that such other information is first provided to the 17g-5 Information Provider in accordance with the procedures
set forth in Section 3.15(c); provided, further, that the 17g-5 Information Provider shall not disclose
which Rating Agency has requested such information. Notwithstanding the foregoing, the failure to deliver such notices or copies
shall not constitute a Servicer Termination Event, as the case may be, under this Agreement. Any confirmation of the rating by
the Rating Agencies required hereunder shall be in writing.

 

Any
notices to the Rating Agencies shall be sent to the following addresses:

	 	 
	 	Moody’s Investors Service,
    Inc.
	 	7 World Trade Center
	 	250 Greenwich Street
	 	New York, New York 10007
	 	Attention: Commercial Mortgage Surveillance
    Group
	 	E-mail: CMBSSurveillance@moodys.com

 

    	-361-

    	 

    

 

	 	 
	 	Fitch Ratings, Inc.
	 	One State Street Plaza
	 	New York, New York 10004
	 	Attention: Commercial Mortgage Backed Securities
    Surveillance
	 	Facsimile No.: (212) 635-0295
	 	E-mail: info.cmbs@fitchratings.com
	 	 
	 	Morningstar Credit Ratings, LLC
	 	220 Gibraltar Road, Suite 300
	 	Horsham, Pennsylvania 19044
	 	Attention: CMBS Surveillance
	 	Email: cmbsratings@morningstar.com

  

Section 12.06Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants,
agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions
of this Agreement or of the Certificates or the rights of the Holders thereof.

 

Section 12.07Grant
of a Security Interest. The Depositor intends that the conveyance of the Depositor’s right, title and interest in and
to the Mortgage Loans pursuant to this Agreement shall constitute a sale and not a pledge of security for a loan. If such conveyance
is deemed to be a pledge of security for a loan, however, the Depositor intends that the rights and obligations of the parties
to such loan shall be established pursuant to the terms of this Agreement. The Depositor also intends and agrees that, in such
event, (i) the Depositor shall be deemed to have granted to the Trustee (in such capacity) a first priority security interest
in the Depositor’s entire right, title and interest in and to the assets comprising the Trust Fund, including without limitation,
the Mortgage Loans, all principal and interest received or receivable with respect to the Mortgage Loans (other than principal
and interest payments due and payable prior to the Cut-off Date and Principal Prepayments received prior to the Cut-off Date),
all amounts held from time to time in the Certificate Account, the Distribution Accounts, the Gain-on-Sale Reserve Account, the
Interest Reserve Account and, if established, the REO Account, and all reinvestment earnings on such amounts, and all of the Depositor’s
right, title and interest in and to the proceeds of any title, hazard or other Insurance Policies related to such Mortgage Loans
and (ii) this Agreement shall constitute a security agreement under applicable law. This Section 12.07 shall
constitute notice to the Trustee pursuant to any of the requirements of the applicable UCC.

 

Section 12.08Successors
and Assigns; Third Party Beneficiaries. (a) The provisions of this Agreement shall be binding upon and inure to the benefit
of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Certificateholders.
Each Mortgage Loan Seller (and its respective agents), each Companion Holder (and its respective agents), each Underwriter, each
depositor of a Regulation AB Companion Loan Securitization and each Initial Purchaser is an intended third-party beneficiary to
this Agreement in respect of the respective rights afforded it hereunder. No other person,

 

    	-362-

    	 

    

 

including,
without limitation, any Mortgagor, shall be entitled to any benefit or equitable right, remedy or claim under this Agreement.

 

(b)          Each
Serviced Companion Noteholder shall be a third-party beneficiary to this Agreement in respect to the rights afforded it hereunder.
Each of the Other Servicers and the Other Trustees shall be a third-party beneficiary to this Agreement in respect to all provisions
herein expressly relating to compensation, reimbursement or indemnification of such Other Servicer and Other Trustee, and any
provisions regarding reimbursement or advances or interest thereon to such Other Servicer or Other Trustee.

 

(c)          Each
of the applicable Non-Serviced Trustee, Non-Serviced Master Servicer, Non-Serviced Special Servicer, any other parties to the
applicable Non-Serviced Pooling Agreement and the holder of the applicable Non-Serviced Companion Loan, in each case, with respect
to the Non-Serviced Companion Loan, shall be a third-party beneficiary to this Agreement
in respect to its rights as specifically provided for herein and under the applicable Non-Serviced Intercreditor Agreement.

 

Section 12.09Article
and Section Headings. The article and section headings herein are for convenience of reference only, and shall not limit or
otherwise affect the meaning hereof.

 

Section 12.10Notices
to the Rating Agencies. (a) The Certificate Administrator shall use reasonable efforts promptly to provide notice to
the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.15(c),
(and the related 17g-5 information provider for any class of Serviced Companion Loan Securities to the extent applicable to any
Serviced Whole Loan) with respect to each of the following of which it has actual knowledge:

 

(i)           any
material change or amendment to this Agreement;

 

(ii)          the
occurrence of a Servicer Termination Event that has not been cured;

 

(iii)         the
resignation or termination of the Certificate Administrator, the Master Servicer or the Special Servicer; and

 

(iv)         the
repurchase or substitution of Mortgage Loans by the related Mortgage Loan Seller pursuant to Section 6 of the related Mortgage
Loan Purchase Agreement.

 

(b)          The
Master Servicer shall use reasonable efforts to promptly provide notice to the 17g-5 Information Provider for posting on the 17g-5
Information Provider’s Website pursuant to Section 3.15(c), with respect to each of the following of which it
has actual knowledge:

 

(i)           the
resignation or removal of the Trustee or the Certificate Administrator;

 

(ii)          any
change in the location of the Certificate Account;

 

    	-363-

    	 

    

 

(iii)         any
event that would result in the voluntary or involuntary termination of any insurance of the accounts of the Trustee;

 

(iv)         any
change in the lien priority of any Mortgage Loan with respect to an assumption of the Mortgage Loan or additional encumbrance
described in Section 3.08;

 

(v)          any
additional lease to an anchor tenant or termination of any existing lease to an anchor tenant at retail properties for any Mortgage
Loan with a Stated Principal Balance that is equal to or greater than the lesser of (1) an amount greater than 5% of the
then aggregate outstanding principal balances of the Mortgage Loans and (2) $35,000,000;

 

(vi)         any
material damage to any Mortgaged Property;

 

(vii)        any
assumption with respect to a Mortgage Loan; and 

 

(viii)       any
release or substitution of any Mortgaged Property.

 

(c)          The
Certificate Administrator shall promptly furnish notice to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website pursuant to Section 3.15(c), and thereafter to the Rating Agencies of (i) any change
in the location of the Distribution Accounts and (ii) the final payment to any Class of Certificateholders.

 

(d)          The
Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer, as applicable, shall furnish to the 17g-5
Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.15(c), and
thereafter to each Rating Agency (and any rating agency for any class of Serviced Companion Loan Securities to the extent applicable
to any Serviced Whole Loan) with respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) such information as
any Rating Agency shall reasonably request and which the Trustee, the Certificate Administrator, the Master Servicer or Special
Servicer, can reasonably provide in accordance with applicable law and without waiving any attorney-client privilege relating
to such information or violating the terms of this Agreement or any Mortgage Loan documents. The Trustee, the Certificate Administrator,
the Master Servicer and Special Servicer, as applicable, may include any reasonable disclaimer it deems appropriate with respect
to such information. Notwithstanding anything to the contrary herein, nothing in this Section 12.10 shall require
a party to provide duplicative notices or copies to the Rating Agencies with respect to any of the above listed items. In connection
with the delivery by the Master Servicer or Special Servicer to the 17g-5 Information Provider of any information, report, notice
or document for posting to the 17g-5 Information Provider Website, the 17g-5 Information Provider shall notify the Master Servicer
or Special Servicer when such information, report, notice or document has been posted.

 

[End
of Article XII]

 

[SIGNATURES
COMMENCE ON FOLLOWING PAGE]

 

    	-364-

    	 

    

  

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

	 	 	 
	 	J.P.
    MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP., Depositor
	 	 	 
	 	By: 	/s/ Bradley J. Horn
	 	 	Name:
    Bradley J. Horn
	 	 	Title: Vice President
	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, Master Servicer
	 	 	 
	 	By: 	/s/ Cynthia L. Schwartz
	 	 	Name: Cynthia L. Schwartz
	 	 	Title:
    Director
	 	 	 
	 	MIDLAND
    LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION, Special Servicer
	 	 	 
	 	By: 	/s/ David A. Eckels
	 	 	Name:
    David A. Eckels
	 	 	Title: Senior Vice President

 

 JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

 

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Certificate Administrator
	 	 	 
	 	By: 	/s/ Stacey Gross 
	 	 	Name: Stacey Gross
	 	 	Title:
    Vice President
	 	 	 
	 	WILMINGTON
    TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Trustee
	 	 	 
	 	By: 	 /s/
    Adam B. Scozzafava
	 	 	Name:
    Adam B. Scozzafava
	 	 	Title:
    Vice President
	 	 	 
	 	PENTALPHA
    SURVEILLANCE LLC, Senior Trust Advisor
	 	 	 
	 	By: 	/s/ James Callahan
	 	 	Name:
    James Callahan
	 	 	Title: Executive Director and Solely as
    an Authorized Signatory for Pentalpha Surveillance LLC

 

 JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

 

On
the ___ day of June, 2015, before me, a notary public in and for said State, personally appeared Bradley J. Horn known to me to
be a Vice President of J.P. Morgan Chase Commercial Mortgage Securities Corp., that executed the within instrument, and also known
to me to be the person who executed it on behalf of such corporation, and acknowledged to me that such corporation executed the
within instrument.

 

IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/
    Michael A. Cuomo
	 	Notary Public
	 	 
	 	MICHAEL A. CUOMO
	[SEAL]	 Notary Public, State of New York
	 	 Qualified in New York County
	My commission expires:	 No. 02CU6268078
	 	 My
    Commission Expires August 27, 2016

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

  

	STATE OF NORTH
    CAROLINA	)	 
	 	)	ss.:
	COUNTY OF MECKLENBURG	)	 

 

On
this 22 day of June, 2015, personally appeared before me Cynthia L. Schwartz, to me known (or proved to me on the basis of
satisfactory evidence) to be the Director of Wells Fargo Bank, National Association, a national banking association,
that executed the within and foregoing instrument, and acknowledged that said instrument to be the free and voluntary act and
deed of said entity, for the uses and purposes therein mentioned, and on oath stated that she was authorized to execute said instrument,
and that by her signature on the instrument the entity upon behalf of which she acted, executed the instrument.

 

	 	/s/
    Erica L. Smith
	 	Notary Public
	 
		ERICA L. SMITH
	[SEAL]	NOTARY PUBLIC
	 	Gaston County
	My commission expires: July 15, 2017	My Commission Expires 7/15/2017
	 	 

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF KANSAS	)	 
	 	)	ss.:
	COUNTY OF JOHNSON	)	 

 

On
the 19 day of June, 2015, before me, a notary public in and for said State, personally appeared David A. Eckels known to me to
be a Senior Vice President of Midland Loan Services, a Division of PNC Bank, National Association, and also known to me to be
the person who executed it on behalf of such national banking association, and acknowledged to me that such national banking association
executed the within instrument.

 

IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	 /s/
    Brend Kinder
	 	Notary Public
	 	 
	[SEAL]	 BRENT KINDER
	 	NOTARY
                                         PUBLIC - State of Kansas

	My commission expires:	My Appt. Exp. January 30, 2018
	 	 

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF MARYLAND	)	 
	 	)	ss.:
	COUNTY OF HOWARD	)	 

 

On
the 18th day of June, 2015, before me, a notary public in and for said State, personally appeared Stacey Gross known to me to
be a Vice President of Wells Fargo Bank, National Association, and also known to me to be the person who executed it on behalf
of such national banking association, and acknowledged to me that such national banking association executed the within instrument.

 

IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/
    AMY MARTIN
	 	 Notary Public
	 	
	 	AMY MARTIN
	[SEAL]	NOTARY PUBLIC
	 	 ANNE
    ARUNDEL COUNTY
	My commission expires:	MARYLAND
	 	 My
    Commission Expires 2-22-201

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF Delaware	)	 
	 	)	ss.:
	COUNTY OF New CastlE	)	 

 

On
the 30 day of June, 2015, before me, a notary public in and for said State, personally appeared Adam B. Scozzafava known to me
to be a Vice President of Wilmington Trust, National Association, and also known to me to be the person who executed it on behalf
of such national banking association, and acknowledged to me that such national banking association executed the within instrument.

 

IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/
    Christina M. Bader
	 	Notary Public
	 	
	[SEAL]	 CHRISTINA
    M BADER
	 	NOTARY PUBLIC
	My commission expires:	STATE OF DELAWARE
	 	My Commission Expires 04-15-2016

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF CONNECTICUT	)	 
	 	)	ss.:
	COUNTY OF FAIRFIELD	)	 

  

On
the 12th day of September 2014, before me, a notary public in and for said State, personally appeared James Callahan, personally
known to me to be an Executive of Pentalpha Surveillance LLC one of the entities that executed the within instrument,
and also known to me to be the person who executed it on behalf of such entity, and acknowledged to me that such entity executed
the within instrument.

 

IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/ Melonie S. Williams
	 	Notary Public
	 	 
	[SEAL]	 MELONIE
    S. WILLIAM
	 	 Notary
    Public
	My commission expires:
    7-31-19	Connecticut
	 	 My
    Commission Expires July 31, 2019

 

JPMBB
2015-C29 – Pooling and Servicing Agreement

 

    	 

    	 

    

 

EXHIBIT
A-1

 

FORM
OF CLASS A-1 CERTIFICATE

 

CLASS
A-1

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED

 

 

1
   Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2
   Book-Entry Certificate legend.

 

    	A-1-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-1-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-1 CERTIFICATES AS OF THE CLOSING DATE: $49,025,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK,    NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor:  PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-1-1]

 

    	A-1-3

    	 

    

 

CLASS A-1
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-1 Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-1 Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-1

 

    	A-1-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-1-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-1 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)     to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-1-6

    	 

    

 

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-1-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)     reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)     reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then-outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)      amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-1-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK. 

 

    	A-1-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS A-1 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-1-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	-   

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                      
        (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                             (State) 

 

  Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto _________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-1-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-1-12

    	 

    

 

EXHIBIT
A-2

 

FORM
OF CLASS A-2 CERTIFICATE

 

CLASS
A-2

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-2

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE. AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED

 

 

1
   Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement. 

2
   Book-Entry Certificate legend.

 

    	A-2-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT, ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-2-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-2 CERTIFICATES AS OF THE CLOSING DATE: $212,993,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK,    NATIONAL
        ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-2-1]

 

    	A-2-3

    	 

    

 

CLASS A-2
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-2 Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-2 Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-2

 

    	A-2-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-2-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-2 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)     to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)     to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)     to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-2-6

    	 

    

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-2-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)     reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)     reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-2-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

 

    	A-2-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS A-2 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-2-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	-   

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     
        (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                            (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-2-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-2-12

    	 

    

 

EXHIBIT
A-3

 

FORM
OF CLASS A-3A1 CERTIFICATE

 

CLASS
A-3A1

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C27

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C27, CLASS A-3A1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED 

 

 

 

1      Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2      Book-Entry
Certificate legend.

 

    	A-3-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR.

 

    	A-3-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [_________]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-3A1 CERTIFICATES AS OF THE CLOSING DATE: $60,000,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor:  PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-3A1-1]

 

    	A-3-3

    	 

    
 

CLASS A-3A1
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-3A1 Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-3A1 Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-3A1

 

    	A-3-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-3-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-3A1 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(vi)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(vii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(viii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(ix)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(x)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-3-6

    	 

    

 

(xi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(xii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(xiii)      to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(xiv)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-3-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)      amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-3A1, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-3-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

 

    	A-3-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        not in its individual capacity but

        solely as Certificate
        Registrar under the Pooling

        and Servicing Agreement

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:    June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-3A1 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-3-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

        

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-3-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-3-12

    	 

    

 

EXHIBIT
A-4

 

FORM
OF CLASS A-3A2 CERTIFICATE

 

CLASS
A-3A2

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-3A2

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED

 

 

 

1      Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2      Book-Entry
Certificate legend.

 

    	A-4-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-4-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [_________]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-3A2 CERTIFICATES AS OF THE CLOSING DATE: $75,000,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor:  PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-3A2-1]

 

    	A-4-3

    	 

    

 

CLASS A-3A2
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-3A2 Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-3A2 Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-3A2

 

    	A-4-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
posted pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-4-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-3A2 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-4-6

    	 

    

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-4-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)      reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)     reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior notice given to the Trustee, the Certificate Administrator
and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all property acquired
through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the Trust Fund’s
portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate Cut-off Date Principal
Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product of (x) a percentage
that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business Center Mortgage Loan and
The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the start-up date of the Trust,
by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-4-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-4-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        not in its individual capacity but

        solely as Certificate
        Registrar under the Pooling

        and Servicing Agreement

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:    June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-3A2 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-4-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-4-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-4-12

    	 

    

 

EXHIBIT
A-5

 

FORM
OF CLASS A-4 CERTIFICATE

 

CLASS
A-4

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-4

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED

 

 

 

1      Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2      Book-Entry
Certificate legend.

 

    	A-5-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-5-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-4 CERTIFICATES AS OF THE CLOSING DATE: $222,921,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-4-1]

 

    	A-5-3

    	 

    

 

CLASS A-4
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-4 Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-4 Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-4

 

    	A-5-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-5-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-4 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-5-6

    	 

    

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-5-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)      reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)     reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)      amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-5-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-5-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        not in its individual capacity but

        solely as Certificate
        Registrar under the Pooling

        and Servicing Agreement

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:    June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-4 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-5-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

        

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-5-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-5-12

    	 

    

 

EXHIBIT
A-6

 

FORM
OF CLASS A-SB CERTIFICATE

 

CLASS
A-SB

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-SB

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED

  

 

 

1      Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2      Book-Entry
Certificate legend.

 

    	A-6-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-6-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-SB CERTIFICATES AS OF THE CLOSING DATE: $69,203,000
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-SB-1]

 

    	A-6-3

    	 

    

 

CLASS
A-SB CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-SB Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-SB Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-SB

 

    	A-6-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to the Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-6-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-SB Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)      to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)     to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-6-6

    	 

    

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-6-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-6-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-6-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        not in its individual capacity but

        solely as Certificate
        Registrar under the Pooling

        and Servicing Agreement

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:    June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-SB CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL

        ASSOCIATION,
        as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-6-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-6-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-6-12

    	 

    

 

EXHIBIT
A-7

 

FORM
OF CLASS X-A CERTIFICATE

 

CLASS
X-A

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-A

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

[THIS
CLASS X-A CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS A-1,
CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB AND CLASS A-S CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-A CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.

 

	 	 

1
         Legend required as long as DTC is the Depository under the Pooling
and Servicing Agreement.

2
         Book-Entry Certificate legend.

 

    	A-7-1

    	 

    

  

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.]

 

    	A-7-2

    	 

    

 

	PASS-THROUGH
                                         RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-A CERTIFICATES AS OF THE CLOSING DATE: $753,133,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-A-1] [X-A-2] [X-A-3]

 

    	A-7-3

    	 

    

  

CLASS X-A
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-A Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-A Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable,
if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully
described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as
provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency
of the United States of America as at the time of payment is legal tender for the payment of public and private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-A

 

    	A-7-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-7-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-A Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-7-6

    	 

    

 

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-7-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)           reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)           amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-7-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-7-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling 

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-A CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-7-10

    	 

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-7-11

    	 

    

  

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-7-12

    	 

    

 

EXHIBIT
A-8

 

FORM
OF CLASS X-B CERTIFICATE

 

CLASS
X-B

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-B

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

[THIS
CLASS X-B CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS B
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET
FORTH BELOW.]

 

[THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-B CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.

 

	 	 

1
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

2
       Book-Entry Certificate legend.

 

    	A-8-1

    	 

    

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.]

 

    	A-8-2

    	 

    

 

	PASS-THROUGH
                                         RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-B CERTIFICATES AS OF THE CLOSING DATE: $54,147,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-B-1]

 

    	A-8-3

    	 

    

 

CLASS X-b
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-B Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-B Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-B

 

    	A-8-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall be set aside and held uninvested in trust and credited to the account
or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant
to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after
the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator,
directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender
of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders
shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount held in trust under
the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-8-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-B Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(vi)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(vii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(viii)       to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(ix)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(x)          
to modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision
of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-8-6

    	 

    

 

(xi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(xii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(xiii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(xiv)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-8-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-8-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-8-9

    	 

    

  

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling 

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-B CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-8-10

    	 

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-8-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-8-12

    	 

    

  

EXHIBIT
A-9

 

FORM
OF CLASS X-C CERTIFICATE

 

CLASS
X-C

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-C

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY. 

  

	 	 

1    Temporary
Regulation S Book-Entry Certificate legend.

2
    Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

3
    Book-Entry Certificate legend.

 

    	A-9-1

    	 

    

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.]

 

[THIS
CLASS X-C CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS C
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET
FORTH BELOW.]

 

[THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-C CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-9-2

    	 

    

 

	PASS-THROUGH
                                         RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-C CERTIFICATES AS OF THE CLOSING DATE: $44,302,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-C-1] [X-C-S-1]

 

    	A-9-3

    	 

    

 

CLASS X-C
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-C Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-C Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-C

 

    	A-9-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-9-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-C Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)           to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)           to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-9-6

    	 

    

 

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)         to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)        to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-9-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class C,
Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting in
unanimity) of the then-outstanding Certificates (other than the

 

    	A-9-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-9-9

    	 

    

  

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling 

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-C CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-9-10

    	 

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

  

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-9-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

 

    	A-9-12

    	 

    

  

EXHIBIT
A-10

 

FORM
OF CLASS X-D CERTIFICATE

 

CLASS
X-D

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-D

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

	 	 

1
     Temporary Regulation S Book-Entry Certificate legend.

2
     Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

3
     Book-Entry Certificate legend.

 

    	A-10-1

    	 

    

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.]

 

[THIS
CLASS X-D CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCES OF THE CLASS
D CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT
SET FORTH BELOW.]

 

[THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-D CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-10-2

    	 

    

 

	PASS-THROUGH
                                         RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-D CERTIFICATES AS OF THE CLOSING DATE: $52,917,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-D-1] [X-D-S-1]

 

    	A-10-3

    	 

    

  

CLASS X-D
CERTIFICATE 

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-D Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-D Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-D

 

    	A-10-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-10-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-D Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          
to correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)           to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-10-6

    	 

    

 

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-10-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)           amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-10-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

 

    	A-10-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, not in its individual capacity but 

    solely as Certificate Registrar under the Pooling 

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-D CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
    FARGO BANK, NATIONAL 

    ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-10-10

    	 

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

        

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-10-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

 

    	A-10-12

    	 

    

 

EXHIBIT
A-11

 

FORM
OF CLASS X-E CERTIFICATE

 

CLASS
X-E

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-E

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

 

1
  Temporary Regulation S Book-Entry Certificate legend.

2   Legend required as long as DTC is the Depository
under the Pooling and Servicing Agreement.

3   Book-Entry Certificate legend.

 

    	A-11-1

    	 

    

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-”U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.]

 

[THIS
CLASS X-E CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS E
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET
FORTH BELOW.]

 

[THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-E CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-11-2

    	 

    

 

	PASS-THROUGH
                           RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-E CERTIFICATES AS OF THE CLOSING DATE: $20,920,000
	 	MASTER
                           SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-E-1] [X-E-S-1]

 

    	A-11-3

    	 

    

 

CLASS X-E
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-E Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-E Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-E

 

    	A-11-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall be set aside and held uninvested in trust and credited to the account
or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant
to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after
the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator,
directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender
of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders
shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount held in trust under
the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-11-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-E Certificates will be issued in book-entry form through
the facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-11-6

    	 

    

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-11-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)         reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-11-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-11-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, not in its individual capacity
                    but 

                    solely as Certificate Registrar under the Pooling
                    

                    and Servicing Agreement

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

Dated:      June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-E CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, as Authenticating Agent

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

    	A-11-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-11-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-11-12

    	 

    

 

EXHIBIT
A-12

 

FORM
OF CLASS X-F CERTIFICATE

 

CLASS
X-F

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-F

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

 

1   Temporary
Regulation S Book-Entry Certificate legend.

2    Legend required as long as DTC is
the Depository under the Pooling and Servicing Agreement.

3    Book-Entry Certificate legend.

 

    	A-12-1

    	 

    

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-”U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

THIS
CLASS X-F CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.

 

THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS F
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET
FORTH BELOW.

 

THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-F CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-12-2

    	 

    

 

	PASS-THROUGH
                           RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-F CERTIFICATES AS OF THE CLOSING DATE: $11,075,000
	 	MASTER
                           SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMONGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA
        SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-F-1] [X-F-S-1]

 

    	A-12-3

    	 

    

 

CLASS X-F
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-F Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-F Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-F

 

    	A-12-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of Certificateholders to tender their Certificates shall be set aside and held uninvested in trust and credited to the account
or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant
to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after
the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator,
directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender
of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders
shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount held in trust under
the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-12-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-F Certificates will be issued in book-entry form through
the facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agents
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agents of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-12-6

    	 

    

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-12-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-12-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-12-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, not in its individual capacity
                    but 

                    solely as Certificate Registrar under the Pooling
                    

                    and Servicing Agreement

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

Dated:      June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-F CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, as Authenticating Agent

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

    	A-12-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-12-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-12-12

    	 

    

 

EXHIBIT
A-13

 

FORM
OF CLASS X-NR CERTIFICATE

 

CLASS
X-NR

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS X-NR

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

 

1
   Temporary Regulation S Book-Entry Certificate legend.

2    Legend required as long as DTC is
the Depository under the Pooling and Servicing Agreement.

3    Book-Entry Certificate legend.

 

    	A-13-1

    	 

    

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-”U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

THIS
CLASS X-NR CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.

 

THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS NR
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET
FORTH BELOW.

 

THE
NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS X-NR CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE
LESS THAN THAT SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

    	A-13-2

    	 

    

 

	PASS-THROUGH
                           RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-NR CERTIFICATES AS OF THE CLOSING DATE: $47,994,178
	 	MASTER
                           SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA
        SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [X-NR-1] [X-NR-S-1]

 

    	A-13-3

    	 

    

 

CLASS X-NR
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class X-NR Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class X-NR Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class X-NR

 

    	A-13-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall be set aside and held uninvested in trust and credited to the account
or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant
to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after
the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator
shall, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning
the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust and of
contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-13-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class X-NR Certificates will be issued in book-entry form through
the facilities of DTC in minimum denominations of $1,000,000 initial Certificate Balance, and in integral multiples of $1 in excess
thereof, with one Certificate of each such Class evidencing an additional amount equal to the remainder of the initial Certificate
Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agents
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agents of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-13-6

    	 

    

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-13-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-13-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-13-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, not in its individual capacity
                    but 

                    solely as Certificate Registrar under the Pooling
                    

                    and Servicing Agreement

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

Dated:      June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-NR CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, as Authenticating Agent

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

    	A-13-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-13-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-13-12

    	 

    

 

EXHIBIT
A-14

 

FORM
OF CLASS A-S CERTIFICATE

 

CLASS
A-S

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS A-S

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE CLASS
B AND CLASS C CERTIFICATES, MAY BE EXCHANGED, PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT, FOR
THE CLASS EC CERTIFICATES.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

 

1
   Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2    Book-Entry Certificate legend.

 

    	A-14-1

    	 

    

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A,
CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F AND CLASS X-NR CERTIFICATES AS AND TO THE EXTENT SET FORTH IN
THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-14-2

    	 

    

 

	PASS-THROUGH
                           RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-S CERTIFICATES AS OF THE CLOSING DATE: $63,991,000 (REPRESENTS THE MAXIMUM
        PRINCIPAL BALANCE OF THE CLASS A-S CERTIFICATES THAT COULD BE ISSUED IN AN EXCHANGE)
	 	MASTER
                           SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [A-S-1]

 

    	A-14-3

    	 

    

 

CLASS A-S
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-S Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-S Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-S

 

    	A-14-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates, on such date, shall be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-14-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-S Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate, together with the Class
B and Class C Certificates, may be exchanged, pursuant to the procedures set forth in the Pooling and Servicing Agreement, for
the Class EC Certificates.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by

 

    	A-14-6

    	 

    

 

an
Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject
to a federal tax caused by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

    	A-14-7

    	 

    

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

    	A-14-8

    	 

    

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall
have the right, with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates)
for all of the Mortgage Loans, and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing
Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-14-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, not in its individual capacity
                    but 

                    solely as Certificate Registrar under the Pooling
                    

                    and Servicing Agreement

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

Dated:      June
30, 2015

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-S CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS
                    FARGO BANK, NATIONAL 

                    ASSOCIATION, as Authenticating Agent

	 	 	 
	 	By:	 
	 	 	AUTHORIZED
        SIGNATORY

 

    	A-14-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-14-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-14-12

    	 

    

 

EXHIBIT
A-15

 

FORM
OF CLASS B CERTIFICATE

 

CLASS
B

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS B

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE CLASS
A-S AND CLASS C CERTIFICATES, MAY BE EXCHANGED, PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT, FOR
THE CLASS EC CERTIFICATES.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

 

1
  Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2
  Book-Entry Certificate legend.

 

    	A-15-1

    	 

    

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A,
CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F, CLASS X-NR AND CLASS A-S CERTIFICATES AS AND TO THE EXTENT SET FORTH
IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-15-2

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS B CERTIFICATES AS OF THE CLOSING DATE: $54,147,000 (REPRESENTS THE MAXIMUM
        PRINCIPAL BALANCE OF THE CLASS B CERTIFICATES THAT COULD BE ISSUED IN AN EXCHANGE) 
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [B-1]

 

    	A-15-3

    	 

    

 

CLASS B
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class B Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class B Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class B

 

    	A-15-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-15-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees. 

Subject
to the terms of the Pooling and Servicing Agreement, the Class B Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate, together with the Class
A-S and Class C Certificates, may be exchanged, pursuant to the procedures set forth in the Pooling and Servicing Agreement, for
the Class EC Certificates.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by

 

    	A-15-6

    	 

    

 

an
Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject
to a federal tax caused by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person;

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

    	A-15-7

    	 

    

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

    	A-15-8

    	 

    

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall
have the right, with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates)
for all of the Mortgage Loans, and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing
Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK. 

 

    	A-15-9

    	 

    

    

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS B CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-15-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-15-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-15-12

    	 

    

 

EXHIBIT
A-16

 

FORM
OF CLASS C CERTIFICATE

 

CLASS
C

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS C

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE CLASS
A-S AND CLASS B CERTIFICATES, MAY BE EXCHANGED, PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT, FOR
THE CLASS EC CERTIFICATES.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

 

1
  Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2
  Book-Entry Certificate legend.

 

    	A-16-1

    	 

    

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE
TO THIS CERTIFICATE AND WILL BE INCREASED BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY
RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM
PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE
CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN
ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A,
CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F, CLASS X-NR CLASS A-S AND CLASS B CERTIFICATES AS AND TO THE EXTENT
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-16-2

    	 

    

 

	PASS-THROUGH
                                         RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS C CERTIFICATES AS OF THE CLOSING DATE: $44,302,000 (REPRESENTS THE MAXIMUM
        PRINCIPAL BALANCE OF THE CLASS C CERTIFICATES THAT COULD BE ISSUED IN AN EXCHANGE)
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [C-1]

 

 

    	A-16-3

    	 

    

 

CLASS
C CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class C Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class C Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class C

 

    	A-16-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-16-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees. 

Subject
to the terms of the Pooling and Servicing Agreement, the Class C Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate, together with the Class
A-S and Class B Certificates, may be exchanged, pursuant to the procedures set forth in the Pooling and Servicing Agreement, for
the Class EC Certificates.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by

 

    	A-16-6

    	 

    

 

an
Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject
to a federal tax caused by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person;

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

    	A-16-7

    	 

    

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

    	A-16-8

    	 

    

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall
have the right, with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates)
for all of the Mortgage Loans, and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing
Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-16-9

    	 

    

    

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS C CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-16-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-16-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-16-12

    	 

    

 

EXHIBIT
A-17

 

FORM
OF CLASS D CERTIFICATE

 

CLASS
D

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS D

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.][1]

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.][2]

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE UNDERWRITERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR
RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED 

 

 

1
  Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

2
  Book-Entry Certificate legend.

 

    	A-17-1

    	 

    

 

MORTGAGE
LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A, CLASS
X-B, CLASS X-C, CLASS X-D, CLASS X E, CLASS X-F, CLASS X-NR, CLASS A-S, CLASS B AND CLASS C CERTIFICATES AS AND TO THE EXTENT
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-17-2

    	 

    

  

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS D CERTIFICATES AS OF THE CLOSING DATE: $52,917,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
          WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [D-1] [D-S-1]

 

    	A-17-3

    	 

    

 

CLASS
D CERTIFICATE 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class D Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class D Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class D

 

    	A-17-4

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-17-5

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class D Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-17-6

    	 

    

 

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-17-7

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall: 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)         adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)         change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-17-8

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-17-9

    	 

    

    

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS D CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-17-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-17-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-17-12

    	 

    

 

EXHIBIT
A-19

 

FORM
OF CLASS E CERTIFICATE

 

CLASS
E

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2015-C29, CLASS E

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

 

1
  Temporary Regulation S Book-Entry Certificate legend.

2
  Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

3
  Book-Entry Certificate legend.

 

    	A-18-1

    	 

    

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.]

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH
PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60,
AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH
INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE
ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION
BY SUCH GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN

 

    	A-18-2

    	 

    

 

THAT
SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS
X-A, CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F, CLASS X-NR CLASS A-S, CLASS B, CLASS C AND CLASS D CERTIFICATES
AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-18-3

    	 

    

 

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS E CERTIFICATES AS OF THE CLOSING DATE: $20,920,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
          WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [E-1] [E-S-1]

 

    	A-18-4

    	 

    

 

CLASS
E CERTIFICATE 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class E Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class E Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class E

 

    	A-18-5

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-18-6

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

Subject
to the terms of the Pooling and Servicing Agreement, the Class E Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)          to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)          to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-18-7

    	 

    

 

(vi)          to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-18-8

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)           amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-18-9

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement. 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-18-10

    	 

    

    

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS E CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-18-11

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                                 COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State)

         

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-18-12

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-18-13

    	 

    

 

EXHIBIT
A-20

 

FORM
OF CLASS F CERTIFICATE

 

CLASS
F

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES 

SERIES
2015-C29, CLASS F

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

 

1     Temporary
Regulation S Book-Entry Certificate legend. 

2     Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement. 

3     Book-Entry
Certificate legend.

 

    	A-19-1

    	 

    

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.]

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH
PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60,
AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH
INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE
ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION
BY SUCH GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN

 

    	A-19-2

    	 

    

 

THAT
SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A,
CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F, CLASS X-NR CLASS A-S, CLASS B, CLASS C, CLASS D AND CLASS E CERTIFICATES
AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-19-3

    	 

    

  

	PASS-THROUGH
                                         RATE: [____]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS F CERTIFICATES AS OF THE CLOSING DATE: $11,075,000
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
           WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [F-1] [F-S-1]

 

    	A-19-4

    	 

    

 

CLASS
F CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class F Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class F Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class F Pass-

 

    	A-19-5

    	 

    

 

Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-19-6

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class F Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-19-7

    	 

    

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-19-8

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-19-9

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-19-10

    	 

    

    

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS F CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-19-11

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-19-12

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-19-13

    	 

    

 

EXHIBIT
A-17

 

FORM
OF CLASS EC CERTIFICATE

 

CLASS
EC

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES 

SERIES
2015-C29, CLASS EC

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE MAY BE EXCHANGED FOR THE
EXCHANGEABLE CERTIFICATES PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT.]

 

[THIS
CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN CERTAIN “REGULAR INTERESTS” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.]

 

 

1    
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement. 

2    
Book-Entry Certificate legend.

 

    	A-20-1

    	 

    

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE
TO THIS CERTIFICATE AND WILL BE INCREASED BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY
RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM
PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE
CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN
ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.]

 

    	A-20-2

    	 

    

 

	PASS-THROUGH
                                         RATE: N/A.

                                         The
                                         Class EC Certificates will only receive distributions of interest that are otherwise
                                         distributable to the Class A-S, Class B and Class C Certificates (the “Exchangeable
                                         Certificates”) exchanged for such Class EC Certificates.

         

        DENOMINATION:
        $[_____]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: ARPIL 23, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS EC CERTIFICATES AS OF THE CLOSING DATE: $162,440,000 (represents
        the maximum principal balance of the CLASS EC Certificates that could be issued in an exchange)
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
           WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SENIOR
        TRUST ADVISOR: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [EC-1]

 

    	A-20-3

    	 

    

 

CLASS
EC CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class EC Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class EC Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, SERIES 2015-C29 and
are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in
the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a beneficial interest in certain “regular interests” in a “real estate mortgage investment
conduit”, as those terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986,
as amended. Each Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment
of, this Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local income and
franchise taxes and other taxes imposed on or measured by income.

 

The
initial Certificate Balance of the Class EC Certificates is equal to the aggregate of the initial Certificate Balances of the
Exchangeable Certificates and represents the maximum principal balance of the Exchangeable Certificates that could be issued in
an exchange. The Class EC Certificates will only receive distributions of principal and interest that are otherwise distributable
to the Exchangeable Certificates exchanged for such Class EC Certificates.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Exchangeable Certificates

 

    	A-20-4

    	 

    

 

exchanged
for the Class EC Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in
the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the
Pooling and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United
States of America as at the time of payment is legal tender for the payment of public and private debts.

 

The
Class EC Certificates will only receive distributions of interest that are otherwise distributable to the Exchangeable Certificates
exchanged for such Class EC Certificates. Interest on the Exchangeable Certificates exchanged for the Class EC Certificates will
accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period
relating to such Distribution Date at the related Pass-Through Rate specified on the Certificate Balance of each such Certificate
immediately prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will
be in an amount equal to this Certificate’s pro rata share of the Available Distribution Amount to be distributed
on the Exchangeable Certificates exchanged for this Class as of such Distribution Date, with a final distribution to be made upon
retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be

 

    	A-20-5

    	 

    

 

paid
out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount held in trust under the Pooling
and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate may be exchanged for the
Exchangeable Certificates pursuant to the procedures set forth in the Pooling and Servicing Agreement.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class EC Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize

 

    	A-20-6

    	 

    

 

the
risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor Trust that would be a claim against the Trust
Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received
an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary
or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such
action will not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)      to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g 5 Information Provider’s Website

 

    	A-20-7

    	 

    

 

pursuant
to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case, without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of

 

    	A-20-8

    	 

    

  

any
related Mortgage Loan), and the Trust Fund’s portion of each REO Property remaining in the Trust Fund, and thereby effect
termination of the Trust Fund and early retirement of the then-outstanding Certificates, on or after the first Distribution Date
on which the aggregate Stated Principal Balances of the Mortgage Loans and the Trust Fund’s portion of any REO Loans remaining
in the Trust Fund is less than the greater of (i) 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans
as set forth in the Pooling and Servicing Agreement or (ii) the product of (x) a percentage that is calculated by dividing
the sum of the outstanding principal balance of the Bridgeway Business Center Mortgage Loan and The Heights Mortgage Loan (or
related REO Loan) on the date that is the 10-year anniversary from the start-up date of the Trust, by the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall
have the right, with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates)
for all of the Mortgage Loans, and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing
Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-20-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS EC CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-20-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-20-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-20-12

    	 

    

 

EXHIBIT
A-21

 

FORM
OF CLASS NR CERTIFICATE

 

CLASS
NR

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES 

SERIES
2015-C29, CLASS NR

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

 

1    
Temporary Regulation S Book-Entry Certificate legend. 

2    
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement. 

3    
Book-Entry Certificate legend.

 

    	A-21-1

    	 

    

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS,
AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH
PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60,
AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH
INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE
ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION
BY SUCH GOVERNMENTAL PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF COLLATERAL SUPPORT DEFICIT ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED
BY THE PORTION OF CERTIFICATE DEFERRED INTEREST ALLOCABLE TO THIS CERTIFICATE AND BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN

 

    	A-21-2

    	 

    

 

THAT
SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3A1, CLASS A-3A2, CLASS A-4, CLASS A-SB, CLASS X-A,
CLASS X-B, CLASS X-C, CLASS X-D, CLASS X-E, CLASS X-F, CLASS X-NR CLASS A-S, CLASS B, CLASS C, CLASS D, CLASS E AND CLASS F
CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	A-21-3

    	 

    

 

	PASS-THROUGH
                                         RATE: [___]%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        APPROXIMATE
        AGGREGATE CERTIFICATE BALANCE OF THE CLASS NR CERTIFICATES AS OF THE CLOSING DATE: $47,994,178
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
           WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        COMMON
        CODE NO.: [            ]

         

        CERTIFICATE
        NO.: [NR-1] [NR-S-1]

 

    	A-21-4

    	 

    

 

CLASS
NR CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class NR Certificates
issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Senior Trust Advisor. A summary of certain of the pertinent provisions of the
Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall
have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class NR Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class NR

 

    	A-21-5

    	 

    

 

Pass-Through
Rate specified above on the Certificate Balance of this Certificate immediately prior to each Distribution Date. Principal and
interest allocated to this Certificate on any Distribution Date will be in an amount equal to this Certificate’s pro
rata share of the Available Distribution Amount to be distributed on the Certificates of this Class as of such Distribution
Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Collateral
Support Deficit, Certificate Deferred Interest and certain other amounts on the Mortgage Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Collateral Support
Deficit or Certificate Deferred Interest on the Mortgage Loans allocated to any Class of Certificates will be allocated pro
rata among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in

 

    	A-21-6

    	 

    

 

writing,
and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee
or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class NR Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

    	A-21-7

    	 

    

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing

 

    	A-21-8

    	 

    

 

Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the

 

    	A-21-9

    	 

    

 

Class R
Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master Servicer, to exchange all of its
Certificates (other than the Class R Certificates) for all of the Mortgage Loans, and each REO Property remaining in the
Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-21-10

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS NR CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-21-11

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-21-12

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-21-13

    	 

    

 

EXHIBIT
A-22

 

FORM
OF CLASS R CERTIFICATE

 

CLASS
R

 

JPMBB
COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES 

SERIES
2015-C29, CLASS R

 

[THIS
CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY
STATE SECURITIES LAWS OR THE LAWS OF ANY OTHER JURISDICTION. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN
MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION
OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT.]

 

[THE
HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN
ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT OR (B) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER
THE SECURITIES ACT, TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A.]

 

[THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT C
TO THE POOLING AND SERVICING AGREEMENT.]

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE SENIOR TRUST ADVISOR, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER OR ANY OTHER PERSON OR ENTITY.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

    	A-22-1

    	 

    

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL
PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL
EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE
ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE.

 

[THIS
CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN TWO “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE CODE. EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS,
“NON-U.S. PERSONS” OR AGENTS OF EITHER, AS SET FORTH IN SECTION 5.03 OF THE POOLING AND SERVICING AGREEMENT,
AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER
THINGS, (A) IT IS NOT A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING
A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT HAS HISTORICALLY
PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C) IT UNDERSTANDS THAT IT MAY
INCUR TAX LIABILITIES WITH RESPECT TO THIS CERTIFICATE IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D) IT INTENDS TO PAY ANY TAXES
ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY BECOME DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE TO
BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF
SUCH PERSON OR ANY OTHER U.S. PERSON AND (F) IT WILL NOT TRANSFER THIS CERTIFICATE TO ANY PERSON OR ENTITY THAT DOES NOT
PROVIDE A SIMILAR AFFIDAVIT. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE
OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE.
THIS CERTIFICATE REPRESENTS ONE OR MORE “NON-ECONOMIC RESIDUAL INTERESTS”, AS DEFINED IN TREASURY REGULATIONS SECTION
1.860E-1(c), AND THEREFORE, TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY
A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS,
TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO TRANSFER AT A MINIMUM PRICE OR TO AN
ELIGIBLE TRANSFEREE AS SPECIFIED IN TREASURY REGULATIONS.]

 

    	A-22-2

    	 

    

 

	PERCENTAGE
                                         INTEREST EVIDENCED BY THIS CERTIFICATE: [100%]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2015

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 30, 2015

         

        FIRST
        DISTRIBUTION DATE: JULY 17, 2015

         

        CLASS
        R PERCENTAGE INTEREST: [100%]
	 	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        SPECIAL
        SERVICER:  MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
           WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        Senior
        Trust Advisor: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [            ]

         

        ISIN
        NO.: [            ]

         

        CERTIFICATE
        NO.: R-1

 

    	A-22-3

    	 

    

 

CLASS
R CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the
REO Accounts, formed and sold by

 

J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.

 

THIS
CERTIFIES THAT JPMORGAN CHASE BANK, NATIONAL ASSOCIATION is the registered owner of the interest evidenced by this Certificate
in the Class R Certificates issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of June
1, 2015 (the “Pooling and Servicing Agreement”), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
(hereinafter called the “Depositor”, which term includes any successor entity under the Pooling and Servicing
Agreement), the Trustee, the Master Servicer, the Special Servicer, the Certificate Administrator and the Senior Trust Advisor.
A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent
not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class R Certificates. The Certificates are designated
as the JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29
and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence
in the aggregate 100% of the beneficial ownership of the Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Class R Certificate represents a “residual interest” in two “real estate mortgage investment conduits”,
as those terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each
Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this
Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise
taxes and other taxes imposed on or measured by income. The Holder of the largest Percentage Interest in the Class R Certificates
shall be the “tax matters person” for each Trust REMIC pursuant to Treasury Regulations Section 1.860F-4(d), and the
Master Servicer is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any such Person that is the
“tax matters person”.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, distributions, if any, on this Certificate shall be made by the Certificate
Administrator in an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by
this Certificate) and to the extent and subject to the limitations set forth in the Pooling and Servicing Agreement, on the Distribution
Date to the Person in whose name this Certificate is registered as of the related Record Date. All sums distributable on this
Certificate are payable in the coin or

 

    	A-22-4

    	 

    

 

currency
of the United States of America as at the time of payment is legal tender for the payment of public and private debts.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Certificate Account and the Distribution Accounts will be held on behalf of the Trustee on behalf of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Certificate Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Certificate
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Certificate Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions in writing at least five Business Days prior to the related Record Date, by wire transfer
of immediately available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities
therefor. The final distribution on this Certificate (determined without regard to any possible future reimbursement of Collateral
Support Deficit previously allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender
of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders
of such final distribution.

 

Any
funds not distributed to any Holders or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Each
Person who has or who acquires any Ownership Interest in a Class R Certificate shall be deemed by the acceptance or acquisition
of such Ownership Interest to have agreed to be bound by the following provisions and to have irrevocably authorized the Trustee
under Section 5.03(n) of the Pooling and Servicing Agreement to deliver payments to a Person other than such Person. The rights
of each Person acquiring any Ownership Interest in a Class R Certificate are expressly subject to the following provisions: (A)
no Person holding or acquiring any Ownership Interest in a Class R Certificate shall be a Disqualified Organization or agent thereof

 

    	A-22-5

    	 

    

 

(including
a nominee, middleman or similar person) (an “Agent”), a Plan or a Person acting on behalf of or investing the
assets of a Plan (such Plan or Person, an “ERISA Prohibited Holder”) or a Non-U.S. Tax Person and shall promptly
notify the Master Servicer, the Trustee and the Certificate Registrar of any change or impending change to such status; (B) in
connection with any proposed Transfer of any Ownership Interest in a Class R Certificate, the Certificate Registrar shall require
delivery to it, and no Transfer of any Class R Certificate shall be registered until the Certificate Registrar receives, an affidavit
substantially in the form attached to the Pooling and Servicing Agreement as Exhibit D-1 (a “Transferee Affidavit”)
from the proposed Transferee, in form and substance satisfactory to the Certificate Registrar, representing and warranting, among
other things, that such Transferee is not a Disqualified Organization or Agent thereof, an ERISA Prohibited Holder or a Non-U.S.
Tax Person, and that it has reviewed the provisions of Section 5.03(n) of the Pooling and Servicing Agreement and agrees to be
bound by them; (C) notwithstanding the delivery of a Transferee Affidavit by a proposed Transferee under clause (B) above, if
the Certificate Registrar has actual knowledge that the proposed Transferee is a Disqualified Organization or Agent thereof, an
ERISA Prohibited Holder or a Non-U.S. Tax Person, no Transfer of an Ownership Interest in a Class R Certificate to such proposed
Transferee shall be effected; and (D) each Person holding or acquiring any Ownership Interest in a Class R Certificate shall agree
(1) to require a Transferee Affidavit from any prospective Transferee to whom such Person attempts to transfer its Ownership Interest
in such Class R Certificate and (2) not to transfer its Ownership Interest in such Class R Certificate unless it provides to the
Certificate Registrar a letter substantially in the form attached to the Pooling and Servicing Agreement as Exhibit D-2 (a “Transferor
Letter”) certifying that, among other things, it has no actual knowledge or reason to know that the proposed Transferee’s
statements in such Transferee Affidavit are false.

 

The
Class R Certificates will be issued in fully registered, certificated form, in minimum percentage interests of 10% and integral
multiples of 1% in excess thereof.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such
transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other
governmental charge payable in connection with any such transfer or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither
the Trustee, the Master Servicer, the Special Servicer, the Certificate Registrar, nor any agent of any of them, shall be affected
by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus Supplement with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or to correct
or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

    	A-22-6

    	 

    

 

(iv)        to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust Fund or any Trust REMIC or the Grantor
Trust that would be a claim against the Trust Fund or any Trust REMIC or the Grantor Trust; provided that the Trustee and
the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the
effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust Fund, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting thereto as evidenced in writing by an Opinion
of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
thereto as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.19 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Event has not occurred and is not continuing, the Directing Certificateholder, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such modification
does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under
the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency
Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered
a confirmation that such action will not result in the downgrade, withdrawal or qualification of its then current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement); and

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if

 

    	A-22-7

    	 

    

 

any
Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates; and provided,
further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider for
posting to the 17g-5 Information Provider’s Website pursuant to Section 3.15(c) of the Pooling and Servicing Agreement and
the Certificate Administrator shall post such notice to the Certificate Administrator’s Website.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage
Loan Seller or (B) materially and adversely affects the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than 51% of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans that are required to be distributed
on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be distributed to
a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all Certificates
of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations of any Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.30 of the Pooling and Servicing Agreement) and, if required under
the related Intercreditor Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole
Loan.

 

Notwithstanding
the foregoing, none of the Senior Trust Advisor, the Trustee, the Certificate Administrator, the Depositor, the Master Servicer
nor the Special Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust Fund’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement and that such amendment or the exercise of any power granted to the Master Servicer, the Special Servicer,
the Depositor, the Trustee, the Certificate Administrator or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.

 

    	A-22-8

    	 

    

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
may, in that order of priority, at their option, upon 60 days’ prior written notice given to the Trustee, the Certificate
Administrator and each of the other parties to the Pooling and Servicing Agreement, purchase all of the Mortgage Loans (and all
property acquired through exercise of remedies in respect of any related Mortgage Loan), and the Trust Fund’s portion of
each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust Fund and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the Trust Fund’s portion of any REO Loans remaining in the Trust Fund is less than the greater of (i) 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement or (ii) the product
of (x) a percentage that is calculated by dividing the sum of the outstanding principal balance of the Bridgeway Business
Center Mortgage Loan and The Heights Mortgage Loan (or related REO Loan) on the date that is the 10-year anniversary from the
start-up date of the Trust, by the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Pooling
and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3A1, Class A-3A2, Class A-4, Class A-SB, Class A-S, Class B, Class
C, Class D and Class EC Certificates are retired (and provided that there is only one Holder (or multiple Holders acting
in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall
have the right, with the consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates)
for all of the Mortgage Loans, and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing
Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust Fund created thereby (other than the obligation of the
Certificate Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall
terminate upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such
final payment resulting from a termination of the Trust Fund due to a sale of its property) pursuant to the terms of the Pooling
and Servicing Agreement. In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the
United States to the Court of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust Fund as Certificate Registrar under the Pooling and Servicing Agreement and
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-22-9

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

  

	 	WELLS
    FARGO BANK, NATIONAL

    ASSOCIATION, not in its individual capacity but

    solely as Certificate Registrar under the Pooling

    and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 30, 2015

  

CERTIFICATE
OF AUTHENTICATION

  

THIS
IS ONE OF THE CLASS R CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

  

	 	WELLS
                    FARGO BANK, NATIONAL

                    ASSOCIATION, as Authenticating Agent

        
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-22-10

    	 

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN
                          COM    

        TEN
        ENT     

        JT
        TEN       

       	- 

        -

        -

         
	as
                           tenant in common

        as
        tenants by the entireties

        as
        joint tenants with rights of

        survivorship
        and not as tenants in

        common

         
	 	UNIF
                           GIFT MIN ACT _________ Custodian

                                     (Cust)

        Under
        Uniform Gifts to Minors

         

        Act _______________________________

                        (State) 

 

 Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

 FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________________

 

	(Please
    insert Social Security or other identifying number of Assignee)
	 
	(Please
    print or typewrite name and address of assignee)
	 
	 

        the
        within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate
        register of the within-named Trust, with full power of substitution in the premises.

         

 

	Dated:	 	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.	 
	 	 	 	 	 
	 	 	 	 	 

 

	SIGNATURE
    GUARANTEED

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange.  Notarized or witnessed signatures are not acceptable.

 

    	A-22-11

    	 

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to_____________ for the account of _____________________________
account number ______________ or, if mailed by check, to ______________________________________. Statements should be mailed to
____________________.  This information is provided by assignee named above, or _______________________, as its agent.

 

    	A-22-12

    	 

    

 

EXHIBIT
B

 

MORTGAGE
LOAN SCHEDULE

 

    	B-1

    	 

    

 

JPMBB
2015-C29 - Combined

	Loan
                                         ID #

	 
	Originator/Loan
                                         

                                         Seller

	 
	Mortgagor
                                         Name

	 
	Property
                                         Address

	 
	City

	 
	State

	 
	Zip
                                         Code

	 
	County

	 
	Property
                                         Name

	 
	Size

	 
	Measure

	 
	 Mortgage
                                         Rate in 

                                         Effect at Origination 

                                         (%)

	 
	 Net
                                         Mortgage 

                                         Rate in Effect 

                                         at the Cut-off 

                                         Date (%)

	 
	 Original
                                         Principal 

                                         Balance

	 
	 Cut-off
                                         Principal 

                                         Balance

	 
	Original
                                         

                                         Term

	 

	1

	  	RAIT

	  	Mikeone
                                         EK M Street Holdings, LLC

	  	2025
                                         M Street Northwest

	  	Washington

	  	DC

	  	20036

	  	District
                                         of Columbia

	2025
                                         M Street

	  	191,248

	  	Square
                                      Feet

	  	                    4.25000

	  	4.23783

	  	           63,560,000

	  	     63,560,000.00

	  	120

	  
	2

	  	JPMCB

	  	BRI
                                         1850 Houston OCC, LLC

	  	1021
                                         Main Street

	  	Houston

	  	TX

	  	77002

	  	Harris

	  	One
                                         City Centre

	  	602,122

	  	Square
                                      Feet

	  	                    3.95000

	  	3.92783

	  	           60,000,000

	  	     60,000,000.00

	  	120

	 

	3

	  	JPMCB

	  	Hertz
                                         Texaco Center, LLC

	  	400
                                         Poydras Street

	  	New
                                         Orleans

	  	LA

	  	70130

	  	Orleans

	  	400
                                         Poydras

	  	595,566

	  	Square
                                      Feet

	  	                    4.48376

	  	4.47159

	  	           55,900,000

	  	     55,759,018.32

	  	120

	 

	4

	  	Barclays

	  	Cole
                                         MT West Covina (Lakes) CA, LP, ARCP MT Grovetown GA, LLC, Cole MT Albuquerque (San Mateo)
                                         NM, LLC, Cole MT Beavercreek OH, LLC, Cole MT Greenwood SC, LLC, Cole MT Marion IN, LLC  

	Various

	  	Various

	  	Various

	  	Various

	  	Various

	  	Cole
                                         IV Retail Portfolio - Pool I

	  	680,486

	  	Square
                                      Feet

	  	                    3.80300

	  	3.79083

	  	           50,000,000

	  	     50,000,000.00

	  	60

	 

	4.01

	  	Barclays

	  	  	  	2500
                                         North Fairfield Road

	  	Beavercreek

	  	OH

	  	45431

	  	Greene

	  	Beavercreek
                                         Shopping Center

	  	278,112

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	           17,200,000

	  	     17,200,000.00

	  	60

	 

	4.02

	  	Barclays

	  	  	  	940-970
                                         Lakes Drive

	  	West
                                         Covina

	  	CA

	  	91790

	  	Los
                                         Angeles

	  	Marketplace
                                         at the Lakes

	  	95,628

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	           11,300,000

	  	     11,300,000.00

	  	60

	 

	4.03

	  	Barclays

	  	  	  	2451
                                         San Mateo Boulevard Northeast

	  	Albuquerque

	  	NM

	  	87110

	  	Bernalillo

	  	Plaza
                                         San Mateo

	  	63,286

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             6,950,000

	  	       6,950,000.00

	  	60

	 

	4.04

	  	Barclays

	  	  	  	259
                                         Hospitality Boulevard

	  	Greenwood

	  	SC

	  	29649

	  	Greenwood

	  	Emerald
                                         Place

	  	107,628

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             6,250,000

	  	       6,250,000.00

	  	60

	  
	4.05

	  	Barclays

	  	  	  	5155
                                         Columbia Road

	  	Grovetown

	  	GA

	  	30813

	  	Columbia

	  	Village
                                         at Hereford Farms

	  	49,608

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             4,250,000

	  	       4,250,000.00

	  	60

	  
	4.06

	  	Barclays

	  	  	  	4014,
                                         4018 & 4212 South Western Avenue

	  	Marion

	  	IN

	  	46953

	  	Grant

	  	University
                                         Marketplace

	  	86,224

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             4,050,000

	  	       4,050,000.00

	  	60

	  
	5

	  	Barclays

	  	ARCP
                                         MT Inglewood CA, LP, Cole MT Canton GA, LLC, Cole MT Columbia SC, LLC, Cole MT East Manchester
                                         PA, LLC, Cole MT Marietta GA, LLC, Cole MT San Antonio (Highway 151) TX, LLC

	Various

	  	Various

	  	Various

	  	Various

	  	Various

	  	Cole
                                         IV Retail Portfolio - Pool II

	  	551,854

	  	Square
                                      Feet

	  	                    3.80300

	  	3.79083

	  	           50,000,000

	  	     50,000,000.00

	  	60

	  
	5.01

	  	Barclays

	  	  	  	3100,
                                         3120 & 3150 West Imperial Highway

	  	Inglewood

	  	CA

	  	90303

	  	Los
                                         Angeles

	  	Inglewood
                                         Plaza

	  	96,919

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	           12,700,000

	  	     12,700,000.00

	  	60

	  
	5.02

	  	Barclays

	  	  	  	6764-6776
                                         Hickory Flat Highway

	  	Canton

	  	GA

	  	30115

	  	Cherokee

	  	Hickory
                                         Flat Commons

	  	114,830

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             9,850,000

	  	       9,850,000.00

	  	60

	  
	5.03

	  	Barclays

	  	  	  	205
                                         Glen Drive

	  	Manchester

	  	PA

	  	17345

	  	York

	  	East
                                         Manchester Village Centre

	  	120,584

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             8,300,000

	  	       8,300,000.00

	  	60

	  
	5.04

	  	Barclays

	  	  	  	1453
                                         Terrell Mill Road Southeast

	  	Marietta

	  	GA

	  	30067

	  	Cobb

	  	Terrell
                                         Mill Village

	  	75,184

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             7,500,000

	  	       7,500,000.00

	  	60

	  
	5.05

	  	Barclays

	  	  	  	8327
                                         State Highway 151

	  	San
                                         Antonio

	  	TX

	  	78245

	  	Bexar

	  	Westover
                                         Marketplace

	  	60,646

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             6,200,000

	  	       6,200,000.00

	  	60

	  
	5.06

	  	Barclays

	  	  	  	10204
                                         Two Notch Road

	  	Columbia

	  	SC

	  	29229

	  	Richland

	  	Target
                                         Center

	  	83,691

	  	Square
                                      Feet

	  	                    3.80300

	  	 

	  	             5,450,000

	  	       5,450,000.00

	  	60

	  
	6

	  	JPMCB

	  	Elite
                                         Street Alta Woodlake Square, LLC

	  	2630
                                         Tanglewilde Street

	  	Houston

	  	TX

	  	77063

	  	Harris

	  	Alta
                                         Woodlake Square

	  	256

	  	Units

	  	                    4.18600

	  	4.17383

	  	           31,000,000

	  	     31,000,000.00

	  	120

	  
	7

	  	Barclays

	  	Little
                                         Palm Island Associates, Ltd.

	  	28500
                                         Overseas Highway

	  	Little
                                         Torch Key

	  	FL

	  	33042

	  	Monroe

	  	Little
                                         Palm Island Resort

	  	30

	  	Rooms

	  	                    4.57600

	  	4.56383

	  	           31,000,000

	  	     30,963,678.36

	  	60

	  
	8

	  	JPMCB

	  	AWH-BP
                                         Annapolis Hotel, LLC, AWH-BP Grand Rapids Hotel, LLC, AWH-BP Jackson Hotel, LLC

	Various

	  	Various

	  	Various

	  	Various

	  	Various

	  	JAGR
                                         Portfolio

	  	721

	  	Rooms

	  	                    4.95950

	  	4.94733

	  	           30,000,000

	  	     30,000,000.00

	  	60

	  
	8.01

	  	JPMCB

	  	  	  	1001
                                         East County Line Road

	  	Jackson

	  	MS

	  	39211

	  	Hinds

	  	Hilton
                                         Jackson

	  	276

	  	Rooms

	  	                    4.95950

	  	 

	  	           14,256,632

	  	     14,256,631.58

	  	60

	  
	8.02

	  	JPMCB

	  	  	  	4747
                                         28th Street Southeast

	  	Grand
                                         Rapids

	  	MI

	  	49512

	  	Kent

	  	Doubletree
                                         Grand Rapids

	  	226

	  	Rooms

	  	                    4.95950

	  	 

	  	             8,480,211

	  	       8,480,210.53

	  	60

	  
	8.03

	  	JPMCB

	  	  	  	210
                                         Holiday Court

	  	Annapolis

	  	MD

	  	21401

	  	Anne
                                         Arundel

	  	Doubletree
                                         Annapolis

	  	219

	  	Rooms

	  	                    4.95950

	  	 

	  	             7,263,158

	  	       7,263,157.89

	  	60

	  
	9

	  	JPMCB

	  	Lenox
                                         Towers, L.P.

	  	3390
                                         and 3400 Peachtree Road Northeast

	  	Atlanta

	  	GA

	  	30326

	  	Fulton

	  	Lenox
                                         Towers

	  	378,838

	  	Square
                                      Feet

	  	                    3.98000

	  	3.96783

	  	           27,500,000

	  	     27,500,000.00

	  	60

	  
	10

	  	SMF
                                       II

	  	BFO
                                         Factory Shoppes LLC

	  	Various

	  	Various

	  	Various

	  	Various

	  	Various

	  	Horizon
                                         Outlet Shoppes Portfolio

	  	555,682

	  	Square
                                      Feet

	  	                    4.50900

	  	4.44683

	  	           26,675,000

	  	     26,675,000.00

	  	120

	 

	10.01

	  	SMF
                                       II

	  	  	  	3001
                                         South Washburn Street

	  	Oshkosh

	  	WI

	  	54904

	  	Winnebago

	  	Oshkosh

	  	270,512

	  	Square
                                      Feet

	  	                    4.50900

	  	 

	  	           15,453,692

	  	     15,453,692.27

	  	120

	 

	10.02

	  	SMF
                                       II

	  	 

	  	448
                                         Fashion Way

	  	Burlington

	  	WA

	  	98233

	  	Skagit

	  	Burlington

	  	174,660

	  	Square
                                      Feet

	  	                    4.50900

	  	 

	  	             6,391,267

	  	       6,391,266.58

	  	120

	  
	10.03

	  	SMF
                                       II

	  	 

	  	6245
                                         North Old 27

	  	Fremont

	  	IN

	  	46737

	  	Steuben

	  	Fremont

	  	110,510

	  	Square
                                      Feet

	  	                    4.50900

	  	 

	  	             4,830,041

	  	       4,830,041.15

	  	120

	 

	11

	  	RAIT

	  	Breckenridge
                                         Group Corpus Christi Texas, LP

	  	1938
                                         Ennis Joslin Road

	  	Corpus
                                         Christi

	  	TX

	  	78412

	  	Nueces

	  	Aspen
                                         Heights - Texas A&M University Corpus Christi  

	500

	  	Beds

	  	                    4.18000

	  	4.16783

	  	           26,000,000

	  	     26,000,000.00

	  	120

	 

	12

	  	JPMCB

	  	Shaner
                                         Pittsburgh Hotel Limited Partnership

	  	112
                                         Washington Place

	  	Pittsburgh

	  	PA

	  	15219

	  	Allegheny

	  	Marriott
                                         - Pittsburgh

	  	402

	  	Rooms

	  	                    4.52700

	  	4.51483

	  	           25,000,000

	  	     25,000,000.00

	  	120

	 

	13

	  	SMF
                                       II

	  	Golden
                                         Triangle #1, LLC

	  	9415
                                         Lucy Jane Lane

	  	Charlotte

	  	NC

	  	28270

	  	Mecklenburg

	  	Crest
                                         at Greylyn

	  	259

	  	Units

	  	                    4.27800

	  	4.26583

	  	           24,000,000

	  	     24,000,000.00

	  	120

	 

	14

	  	JPMCB

	  	COFE
                                         Town Center, LLC

	  	12651
                                         South Dixie Highway

	  	Pinecrest

	  	FL

	  	33156

	  	Miami-Dade

	  	Pinecrest
                                         Town Center

	  	94,175

	  	Square
                                      Feet

	  	                    4.10000

	  	4.05783

	  	           23,525,000

	  	     23,525,000.00

	  	120

	 

	15

	  	RCMC

	  	Carson
                                         Hotel, LLC

	  	2
                                         Civic Plaza Drive

	  	Carson

	  	CA

	  	90745

	  	Los
                                         Angeles

	  	DoubleTree
                                         - Carson

	  	225

	  	Rooms

	  	                    3.96000

	  	3.94783

	  	           22,650,000

	  	     22,586,643.62

	  	120

	  
	16

	  	JPMCB

	  	Hertz
                                         Richmond Holdings, LLC

	  	Various

	  	Richmond

	  	VA

	  	Various

	  	Chesterfield

	  	Richmond
                                         Portfolio

	  	413,835

	  	Square
                                      Feet

	  	                    4.17000

	  	4.15783

	  	           21,700,000

	  	     21,700,000.00

	  	120

	 

	16.01

	  	JPMCB

	  	  	  	1011
                                         Boulder Springs Drive

	  	Richmond

	  	VA

	  	23225

	  	Chesterfield

	  	Boulders

	  	140,746

	  	Square
                                      Feet

	  	                    4.17000

	  	 

	  	             7,658,824

	  	       7,658,823.53

	  	120

	 

	16.02

	  	JPMCB

	  	  	  	804,
                                         808 & 812 Moorefield Park Drive

	  	Richmond

	  	VA

	  	23236

	  	Chesterfield

	  	Moorefield
                                         I, II, III

	  	145,475

	  	Square
                                      Feet

	  	                    4.17000

	  	 

	  	             7,133,218

	  	       7,133,217.99

	  	120

	 

	16.03

	  	JPMCB

	  	  	  	10800
                                         Midlothian Turnpike

	  	Richmond

	  	VA

	  	23235

	  	Chesterfield

	  	Winchester

	  	127,614

	  	Square
                                      Feet

	  	                    4.17000

	  	 

	  	             6,907,958

	  	       6,907,958.48

	  	120

	 

	17

	  	Barclays

	  	Seaside
                                         North, LLC

	  	25,
                                         45, 63, 83, 109 & 121 Central Square; 2236 East County Highway 30A

	  	Seaside

	  	FL

	  	32459

	  	Walton

	  	Downtown
                                         Seaside

	  	32,196

	  	Square
                                      Feet

	  	                    4.15000

	  	4.13783

	  	           21,500,000

	  	     21,500,000.00

	  	120

	 

	18

	  	RAIT

	  	CH
                                         Bedford Hotel Partners, LLC

	  	3800
                                         Bedford Avenue

	  	Nashville

	  	TN

	  	37215

	  	Davidson

	  	Courtyard
                                         Marriott Green Hills

	  	123

	  	Rooms

	  	                    4.04000

	  	4.02783

	  	           19,995,000

	  	     19,968,639.52

	  	120

	 

	19

	  	Barclays

	  	SSSP
                                         Preakness, LLC, SSSP Woodstock, LLC, SSSP Altamonte Springs, LLC, SSSP Augusta, LLC,
                                         SSSP Marietta, LLC, SSSP Shepherd Drive Decatur, LLC, SSSP Valrico, LLC

	Various

	  	Various

	  	Various

	  	Various

	  	Various

	  	Simply
                                         Self Storage Portfolio (FL & GA)

	  	4,059

	  	Units

	  	                    4.26600

	  	4.25383

	  	           19,650,000

	  	     19,650,000.00

	  	120

	 

	19.01

	  	Barclays

	  	  	  	510
                                         Douglas Avenue

	  	Altamonte
                                         Springs

	  	FL

	  	32714

	  	Seminole

	  	Assured
                                         Self Storage

	  	754

	  	Units

	  	                    4.26600

	  	 

	  	             4,550,000

	  	       4,550,000.00

	  	120

	 

	19.02

	  	Barclays

	  	  	  	22853
                                         Preakness Boulevard

	  	Land
                                         O’ Lakes

	  	FL

	  	34639

	  	Pasco

	  	Preakness
                                         Self Storage

	  	700

	  	Units

	  	                    4.26600

	  	 

	  	             3,450,000

	  	       3,450,000.00

	  	120

	 

	19.03

	  	Barclays

	  	  	  	1035
                                         Starwood Avenue

	  	Valrico

	  	FL

	  	33596

	  	Hillsborough

	  	United
                                         Self Storage

	  	676

	  	Units

	  	                    4.26600

	  	 

	  	             3,300,000

	  	       3,300,000.00

	  	120

	 

	19.04

	  	Barclays

	  	  	  	2134
                                         Gordon Highway

	  	Augusta

	  	GA

	  	30909

	  	Richmond

	  	Gordon
                                         Highway Self Storage

	  	691

	  	Units

	  	                    4.26600

	  	 

	  	             2,900,000

	  	       2,900,000.00

	  	120

	  
	19.05

	  	Barclays

	  	  	  	140
                                         Emma Lane

	  	Woodstock

	  	GA

	  	30189

	  	Cherokee

	  	Cherokee
                                         Self Storage

	  	411

	  	Units

	  	                    4.26600

	  	 

	  	             2,400,000

	  	       2,400,000.00

	  	120

	 

	19.06

	  	Barclays

	  	  	  	2804
                                         HF Shepherd Drive

	  	Decatur

	  	GA

	  	30034

	  	DeKalb

	  	Decatur
                                         Self Storage

	  	551

	  	Units

	  	                    4.26600

	  	 

	  	             1,950,000

	  	       1,950,000.00

	  	120

	 

	19.07

	  	Barclays

	  	  	  	732
                                         Chance Road

	  	Marietta

	  	GA

	  	30066

	  	Cobb

	  	Marietta
                                         Self Storage

	  	276

	  	Units

	  	                    4.26600

	  	 

	  	             1,100,000

	  	       1,100,000.00

	  	120

	 

	20

	  	SMF
                                       II

	  	Miami
                                         Gardens Drive, LLC

	  	18600
                                         Northwest 87th Avenue

	  	Hialeah

	  	FL

	  	33015

	  	Miami-Dade

	  	Sedano’s
                                         Plaza Lakes on the Green

	  	129,740

	  	Square
                                      Feet

	  	                    4.44200

	  	4.42983

	  	           18,600,000

	  	     18,600,000.00

	  	120

	 

	21

	  	JPMCB

	  	Argo
                                         80 SW 8th St LLC

	  	8
                                         Eagles Trail

	  	Hattiesburg

	  	MS

	  	39402

	  	Lamar

	  	Eagles
                                         Trail

	  	792

	  	Beds

	  	                    4.60000

	  	4.58783

	  	           17,250,000

	  	     17,250,000.00

	  	60

	 

	22

	  	JPMCB

	  	Ashley
                                         Bridgeway, LLC

	  	6701
                                         College Drive

	  	Suffolk

	  	VA

	  	23435

	  	Suffolk
                                         City

	  	Bridgeway
                                         Business Center

	  	707,901

	  	Square
                                      Feet

	  	                    4.09000

	  	4.05033

	  	           16,000,000

	  	     15,958,633.80

	  	180

	 

	23

	  	JPMCB

	  	PMD
                                         I, LLC

	  	890
                                         Elkridge Landing Road

	  	Linthicum
                                         Heights

	  	MD

	  	21090

	  	Anne
                                         Arundel

	  	Doubletree
                                         Baltimore Airport

	  	260

	  	Rooms

	  	                    5.07000

	  	5.03033

	  	           15,750,000

	  	     15,750,000.00

	  	60

	 

	24

	  	JPMCB

	  	The
                                         Heights LLC

	  	26400
                                         Ford Road

	  	Dearborn
                                         Heights

	  	MI

	  	48127

	  	Wayne

	  	The
                                         Heights

	  	237,003

	  	Square
                                      Feet

	  	                    3.76800

	  	3.70833

	  	           15,250,000

	  	     15,188,443.52

	  	180

	 

	25

	  	RCMC

	  	The
                                         Garden District - Auburn, Ltd.

	  	190
                                         East University Drive

	  	Auburn

	  	AL

	  	36832

	  	Lee

	  	Garden
                                         District Apartments

	  	471

	  	Beds

	  	                    4.56000

	  	4.54783

	  	           13,700,000

	  	     13,700,000.00

	  	120

	 

	26

	  	Barclays

	  	El
                                         Paseo Collection, A California Limited Partnership, El Paseo Collection II, LP

	73061
                                         - 73081 El Paseo

	  	Palm
                                         Desert

	  	CA

	  	92260

	  	Riverside

	  	El
                                         Paseo Collection South

	  	27,098

	  	Square
                                      Feet

	  	                    3.95400

	  	3.94183

	  	           13,500,000

	  	     13,500,000.00

	  	120

	 

	27

	  	JPMCB

	  	Vision
                                         Cobb Place LLC

	  	905
                                         Cobb Place Boulevard Northwest

	  	Kennesaw

	  	GA

	  	30144

	  	Cobb

	  	Homewood
                                         Suites Kennesaw

	  	100

	  	Rooms

	  	                    4.20000

	  	4.18783

	  	           11,500,000

	  	     11,457,806.34

	  	120

	 

	28

	  	SMF
                                       II

	  	NMR
                                         Charleston, LLC

	  	7535
                                         North Forest Drive

	  	North
                                         Charleston

	  	SC

	  	29420

	  	Charleston

	  	Springhill
                                         Suites Charleston

	  	115

	  	Rooms

	  	                    4.52900

	  	4.51683

	  	           10,500,000

	  	     10,482,414.33

	  	120

	  
	29

	  	JPMCB

	  	Hertz
                                         Worcester Chestnut Place, LLC

	  	22
                                         and 55 Elm Street

	  	Worcester

	  	MA

	  	01608

	  	Worcester

	  	Chestnut
                                         Place

	  	218,098

	  	Square
                                      Feet

	  	                    4.12000

	  	4.10783

	  	           10,500,000

	  	     10,471,533.69

	  	120

	 

	30

	  	RCMC

	  	San
                                         Bruno Partners, LLC

	  	343
                                         - 345 Shaw Road

	  	South
                                         San Francisco

	  	CA

	  	94080

	  	San
                                         Mateo

	  	AllStore
                                         Center Self Storage

	  	677

	  	Units

	  	                    3.87000

	  	3.85783

	  	           10,000,000

	  	     10,000,000.00

	  	120

	 

	31

	  	SMF
                                       II

	  	Winston
                                         Jacksonville Fund Owner, LLC

	  	1032
                                         Hampton Inn Way

	  	Jacksonville

	  	NC

	  	28546

	  	Onslow

	  	Hampton
                                         Inn Jacksonville

	  	110

	  	Rooms

	  	                    4.16500

	  	4.15283

	  	             9,500,000

	  	       9,474,471.73

	  	120

	 

	32

	  	RCMC

	  	ASHH,
                                         LLC

	  	2201
                                         South Oakdale Drive

	  	Bloomington

	  	IN

	  	47403

	  	Monroe

	  	Hidden
                                         Hills at Oakdale West

	  	162

	  	Units

	  	                    4.10000

	  	4.03033

	 
	             9,262,500

	  	       9,262,500.00

	  	120

	 

	33

	  	RCMC

	  	Hexon
                                         Whitemarsh Self Storage IV LLC

	  	9810
                                         Pulaski Highway

	  	Baltimore

	  	MD

	  	21220

	  	Baltimore

	  	Whitemarsh
                                         Self Storage

	  	835

	  	Units

	  	                    4.14000

	  	4.12783

	  	             9,125,000

	  	       9,125,000.00

	  	120

	 

	34

	  	RCMC

	  	The
                                         Weatherly Building, LLC

	  	516
                                         Southeast Morrison Street

	  	Portland

	  	OR

	  	97214

	  	Multnomah

	  	The
                                         Weatherly

	  	63,272

	  	Square
                                      Feet

	  	                    4.35000

	  	4.33783

	  	             8,900,000

	  	       8,900,000.00

	  	120

	 

	35

	  	SMF
                                       II

	  	Northsight,
                                         LLC

	  	15144
                                         North Northsight Boulevard

	  	Scottsdale

	  	AZ

	  	85260

	  	Maricopa

	  	Northsight
                                         Village

	  	88,031

	  	Square
                                      Feet

	  	                    4.02800

	  	4.01583

	  	             8,800,000

	  	       8,800,000.00

	  	120

	 

	36

	  	JPMCB

	  	Destin
                                         98, LLC

	  	19001
                                         Emerald Coast Parkway

	  	Destin

	  	FL

	  	32541

	  	Okaloosa

	  	Fairfield
                                         Inn Destin

	  	100

	  	Rooms

	  	                    4.03000

	  	3.97783

	  	             8,500,000

	  	       8,476,546.02

	  	120

	 

	37

	  	RCMC

	  	FAC
                                         NEBO Shopping Center, LLC

	  	221-272
                                         Mount Nebo Pointe Drive

	  	Pittsburgh

	  	PA

	  	15237

	  	Allegheny

	  	Mt.
                                         Nebo Pointe

	  	99,447

	  	Square
                                      Feet

	  	                    4.18000

	  	4.16783

	  	             8,000,000

	  	       8,000,000.00

	  	120

	 

	38

	  	Barclays

	  	1800
                                         16th Street, LLC

	  	1800-1808,
                                         1812-1824 & 1828 North 16th Street

	  	Philadelphia

	  	PA

	  	19121

	  	Philadelphia

	  	Campus
                                         View Apartments

	  	360

	  	Beds

	  	                    4.30000

	  	4.28783

	  	             8,000,000

	  	       8,000,000.00

	  	120

	  
	39

	  	Barclays

	  	Ocala
                                         Park Limited Partnership

	  	3500
                                         Southwest College Road

	  	Ocala

	  	FL

	  	34474

	  	Marion

	  	Park
                                         Centre Commons

	  	66,480

	  	Square
                                      Feet

	  	                    4.04000

	  	4.02783

	  	             8,000,000

	  	       7,977,968.75

	  	120

	  
	40

	  	RCMC

	  	Continental
                                         Windwood Centre, LLC

	  	780
                                         Lynnhaven Parkway

	  	Virginia
                                         Beach

	  	VA

	  	23452

	  	Virginia
                                         Beach City

	  	Windwood
                                         Centre

	  	78,973

	  	Square
                                      Feet

	  	                    4.33000

	  	4.31783

	  	             7,500,000

	  	       7,500,000.00

	  	120

	  
	41

	  	RCMC

	  	2560
                                         Dixwell Medical, LLC

	  	2560
                                         Dixwell Avenue

	  	Hamden

	  	CT

	  	06514

	  	New
                                         Haven

	  	2560
                                         Dixwell

	  	30,050

	  	Square
                                      Feet

	  	                    4.19000

	  	4.17783

	  	             7,000,000

	  	       7,000,000.00

	  	120

	  
	42

	  	Barclays

	  	Woodlands
                                         Medical Properties, LP

	  	26710
                                         Interstate 45 North

	  	Oak
                                         Ridge North

	  	TX

	  	77386

	  	Montgomery

	  	Alore
                                         Center

	  	29,924

	  	Square
                                      Feet

	  	                    4.35000

	  	4.33783

	  	             6,600,000

	  	       6,600,000.00

	  	120

	  
	43

	  	JPMCB

	  	Midas
                                         Greenville, LLC

	  	25
                                         Green Heron Road

	  	Greenville

	  	SC

	  	29607

	  	Greenville

	  	Candlewood
                                         Suites Greenville

	  	97

	  	Rooms

	  	                    4.30000

	  	4.24783

	  	             6,600,000

	  	       6,576,163.33

	  	120

	  
	44

	  	Barclays

	  	Lamberton
                                         Partners, LLC

	  	3250
                                         Plaza Drive Northeast

	  	Grand
                                         Rapids

	  	MI

	  	49525

	  	Kent

	  	Lamberton
                                         Lake Apartments

	  	120

	  	Units

	  	                    4.05000

	  	4.03783

	  	             6,300,000

	  	       6,300,000.00

	  	120

	  
	45

	  	JPMCB

	  	Jairaj
                                         Dupont, LLC

	  	3520
                                         East Dupont Road

	  	Fort
                                         Wayne

	  	IN

	  	46825

	  	Allen

	  	Hampton
                                         Inn Ft. Wayne

	  	78

	  	Rooms

	  	                    4.52000

	  	4.50783

	  	             6,300,000

	  	       6,284,226.67

	  	120

	  
	46

	  	SMF
                                       II

	  	CP
                                         Lyons Station SC LLC

	  	23404-23434
                                         Lyons Avenue

	  	Santa
                                         Clarita

	  	CA

	  	91321

	  	Los
                                         Angeles

	  	Lyons
                                         Station

	  	28,554

	  	Square
                                      Feet

	  	                    4.16200

	  	4.14983

	  	             6,150,000

	  	       6,150,000.00

	  	120

	  
	47

	  	Barclays

	  	Cavalier
                                         Building, LLC

	  	95
                                         White Bridge Road

	  	Nashville

	  	TN

	  	37205

	  	Davidson

	  	Cavalier
                                         Building

	  	75,161

	  	Square
                                      Feet

	  	                    3.99400

	  	3.98183

	  	             6,150,000

	  	       6,150,000.00

	  	120

	  
	48

	  	SMF
                                       II

	  	Intervest-Plantation,
                                         LLC

	  	2
                                         South University Drive

	  	Plantation

	  	FL

	  	33324

	  	Broward

	  	Plantation
                                         Corporate Center

	  	56,141

	  	Square
                                      Feet

	  	                    4.50000

	  	4.48783

	  	             6,100,000

	  	       6,100,000.00

	  	120

	  
	49

	  	RCMC

	  	Washington
                                         Medical, LLC

	  	9
                                         Washington Avenue

	  	Hamden

	  	CT

	  	06518

	  	New
                                         Haven

	  	9
                                         Washington

	  	35,166

	  	Square
                                      Feet

	  	                    4.19000

	  	4.17783

	  	             5,968,000

	  	       5,968,000.00

	  	120

	  
	50

	  	JPMCB

	  	Creekside
                                         Square Realty I, LLC

	  	5836
                                         Hunnewell Drive

	  	Indianapolis

	  	IN

	  	46254

	  	Marion

	  	Creekside
                                         Square Apartments

	  	128

	  	Units

	  	                    4.24600

	  	4.23383

	  	             5,750,000

	  	       5,750,000.00

	  	120

	  
	51

	  	RCMC

	  	Lake
                                         Davidson Village Patton Square SPE, LLC, Turner Family Investments Patton Square, SPE,
                                         LLC, Wooddall Holdings Patton Square SPE, LLC

	345
                                         South Main Street

	  	Woodruff

	  	SC

	  	29388

	  	Spartanburg

	  	Patton
                                         Square

	  	91,910

	  	Square
                                      Feet

	  	                    4.32000

	  	4.30783

	  	             5,710,000

	  	       5,710,000.00

	  	120

	  
	52

	  	RAIT

	  	14001
                                         Weston Parkway LLC

	  	14001
                                         Weston Parkway

	  	Cary

	  	NC

	  	27513

	  	Wake

	  	14001
                                         Weston Parkway

	  	78,929

	  	Square
                                      Feet

	  	                    4.63000

	  	4.56033

	  	             5,500,000

	  	       5,490,950.15

	  	120

	  
	53

	  	Barclays

	  	Rockmead
                                         Medical Properties, LP

	  	605
                                         & 611 Rockmead Drive

	  	Kingwood

	  	TX

	  	77339

	  	Montgomery

	  	Rockmead
                                         Professional Center

	  	28,038

	  	Square
                                      Feet

	  	                    4.20000

	  	4.18783

	 
	             4,900,000

	  	       4,900,000.00

	  	120

	  
	54

	  	Barclays

	  	Airport
                                         Austin Business Park Owner, LLC

	  	4109
                                         & 4111 Todd Lane

	  	Austin

	  	TX

	  	78744

	  	Travis

	  	Austin
                                         Industrial Park

	  	80,501

	  	Square
                                      Feet

	  	                    4.21250

	  	4.20033

	 
	             4,500,000

	  	       4,500,000.00

	  	120

	  
	55

	  	RAIT

	  	Yale
                                         Orangeburg, LLC

	  	2795
                                         North Road

	  	Orangeburg

	  	SC

	  	29118

	  	Orangeburg

	  	North
                                         Road Plaza

	  	50,760

	  	Square
                                      Feet

	  	                    4.52500

	  	4.41533

	 
	             4,462,500

	  	       4,462,500.00

	  	120

	  
	56

	  	RAIT

	  	4575
                                         Altama, LLC

	  	4575
                                         Altama Avenue

	  	Brunswick

	  	GA

	  	31520

	  	Glynn

	  	Walgreens
                                         - Brunswick

	  	14,820

	  	Square
                                      Feet

	  	                    4.29000

	  	4.27783

	 
	             4,300,000

	  	       4,300,000.00

	  	120

	  
	57

	  	Barclays

	  	2751
                                         Roosevelt Road, LLC

	  	2751
                                         Roosevelt Road

	  	San
                                         Diego

	  	CA

	  	92106

	  	San
                                         Diego

	  	Liberty
                                         Station - Building 210

	  	37,333

	  	Square
                                      Feet

	  	                    4.30600

	  	4.25383

	  	             4,100,000

	  	       4,100,000.00

	  	120

	  
	58

	  	RCMC

	  	Real
                                         Capital II, LLC

	  	275
                                         North York Street

	  	Elmhurst

	  	IL

	  	60126

	  	DuPage

	  	275
                                         N. York

	  	23,962

	  	Square
                                      Feet

	  	                    4.38000

	  	4.36783

	 
	             4,000,000

	  	       4,000,000.00

	  	120

	  
	59

	  	Barclays

	  	Dakota
                                         Estates, LLC

	  	917
                                         27th Avenue Northeast

	  	Aberdeen

	  	SD

	  	57401

	  	Brown

	  	Dakota
                                         Estates

	  	65

	  	Units

	  	                    4.25000

	  	4.18783

	 
	             4,000,000

	  	       3,989,430.19

	  	120

	  
	60

	  	RAIT

	  	Fair
                                         Oaks Parkway Associates, LLC

	  	9089
                                         Fair Oaks Parkway

	  	Fair
                                         Oaks

	  	TX

	  	78015

	  	Bexar

	  	CVS
                                         - Fair Oaks

	  	13,031

	  	Square
                                      Feet

	  	                    3.89000

	  	3.87783

	 
	             3,960,000

	  	       3,960,000.00

	  	120

	  
	61

	  	RCMC

	  	L’Abri
                                         Associates, LLC

	  	3715
                                         Argent Boulevard

	  	Ridgeland

	  	SC

	  	29936

	  	Jasper

	  	AAA
                                         Storage City

	  	451

	  	Units

	  	                    3.87000

	  	3.85783

	 
	             3,800,000

	  	       3,789,183.55

	  	120

	  
	62

	  	RAIT

	  	Hutto
                                         Associates, LLC

	  	301
                                         FM 685

	  	Hutto

	  	TX

	  	78634

	  	Williamson

	  	CVS
                                         - Hutto

	  	14,600

	  	Square
                                      Feet

	  	                    3.96500

	  	3.95283

	 
	             2,650,000

	  	       2,650,000.00

	  	120

	  
	63

	  	Barclays

	  	Hill
                                         Trust Delaware LLC

	  	9051
                                         West Kelton Lane

	  	Peoria

	  	AZ

	  	85382

	  	Maricopa

	  	91st
                                         & Kelton

	  	33,660

	  	Square
                                      Feet

	  	                    4.62800

	  	4.61583

	 
	             2,500,000

	  	       2,497,105.08

	  	120

	  

 

 
                                         

 
                                         

 
              

JPMBB
                                         2015-C29 - Combined

 

	Loan
                                         ID #

	 
	Originator/Loan
                                         

                                         Seller

	 
	Mortgagor
                                         Name

	Remaining
                                         Term

	 
	Maturity/ARD
                                         

                                         Date

	 
	Amortiziation
                                         

                                         Term

	 
	Remaining
                                         

                                         Amortization 

                                         Term for Balloon 

                                         Loans

	 
	 Monthly
                                         

                                         Payment

	 
	Servicing
                                         Fee 

                                         Rate

	 
	Accrual
                                         Type

	 
	ARD
                                         Loan 

                                         (Y/N)

	 
	Revised
                                         Rate (%)

	 
	Title
                                         Type

	 
	Crossed
                                         

                                         Collateralized 

                                         Loan

	  
	1

	  	RAIT

	  	Mikeone
                                         EK M Street Holdings, LLC

	118

	  	04/01/25

	  	360

	  	360

	  	     312,676.99

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	2

	  	JPMCB

	  	BRI
                                         1850 Houston OCC, LLC

	118

	  	04/01/25

	  	0

	  	0

	  	     200,791.67

	  	0.01500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	3

	  	JPMCB

	  	Hertz
                                         Texaco Center, LLC

	118

	  	04/01/25

	  	360

	  	358

	  	     282,697.94

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	4

	  	Barclays

	  	Cole MT West Covina
(Lakes) CA, LP, ARCP MT Grovetown GA, LLC, Cole MT Albuquerque (San Mateo) NM, LLC, Cole MT Beavercreek OH, LLC, Cole MT Greenwood
SC, LLC, Cole MT Marion IN, LLC  	59

	 	05/06/20

	 	0	 	0

	 	161,099.31	 	0.00500	 	Actual/360	 	No	 	  	  	Fee	 	No

	 
	4.01

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	4.02

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	4.03

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	4.04

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	4.05

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	4.06

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5

	  	Barclays

	  	ARCP MT Inglewood CA,
LP, Cole MT Canton GA, LLC, Cole MT Columbia SC, LLC, Cole MT East Manchester PA, LLC, Cole MT Marietta GA, LLC, Cole MT San Antonio
(Highway 151) TX, LLC	59

	 	05/06/20

	 	0	 	0	 	161,099.31	 	0.00500	 	Actual/360	 	No	 	  	  	Fee	 	No	 
	5.01

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5.02

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5.03

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5.04

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5.05

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	5.06

	  	Barclays

	  	  	59

	  	  	  	0

	  	0

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	6

	  	JPMCB

	  	Elite
                                         Street Alta Woodlake Square, LLC

	120

	  	06/01/25

	  	360

	  	360

	  	     151,342.12

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	7

	  	Barclays

	  	Little
                                         Palm Island Associates, Ltd.

	59

	  	05/06/20

	  	360

	  	359

	  	     158,475.42

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	8

	  	JPMCB

	  	AWH-BP
                                         Annapolis Hotel, LLC, AWH-BP Grand Rapids Hotel, LLC, AWH-BP Jackson Hotel, LLC

	58

	 	04/01/20	 	360	 	360	 	160,304.75	 	0.00500

	 	Actual/360	 	No	 	  	  	Fee	 	No	 
	8.01

	  	JPMCB

	  	  	58

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	8.02

	  	JPMCB

	  	  	58

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	8.03

	  	JPMCB

	  	  	58

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	9

	  	JPMCB

	  	Lenox
                                         Towers, L.P.

	60

	  	06/01/20

	  	360

	  	360

	  	     130,972.32

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	10

	  	SMF
                                      II

	  	BFO
                                         Factory Shoppes LLC

	117

	  	03/06/25

	  	360

	  	360

	  	     135,300.99

	  	0.05500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	10.01

	  	SMF
                                      II

	  	  	117

	  	01/00/00

	  	360

	  	360

	  	  	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	10.02

	  	SMF
                                      II

	  	 

	117

	  	01/00/00

	  	360

	  	360

	  	  	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	10.03

	  	SMF
                                      II

	  	 

	117

	  	01/00/00

	  	360

	  	360

	  	  	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	11

	  	RAIT

	  	Breckenridge
                                         Group Corpus Christi Texas, LP

	115

	  	01/01/25

	  	360

	  	360

	  	     123,156.84

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	12

	  	JPMCB

	  	Shaner
                                         Pittsburgh Hotel Limited Partnership

	113

	  	11/01/24

	  	360

	  	360

	  	     127,072.71

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Leasehold

	  	No

	  
	13

	  	SMF
                                      II

	  	Golden
                                         Triangle #1, LLC

	119

	  	05/06/25

	  	360

	  	360

	  	     118,459.31

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	14

	  	JPMCB

	  	COFE
                                         Town Center, LLC

	119

	  	05/01/25

	  	360

	  	360

	  	     113,672.42

	  	0.03500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	15

	  	RCMC

	  	Carson
                                         Hotel, LLC

	118

	  	04/05/25

	  	360

	  	358

	  	     107,612.90

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	16

	  	JPMCB

	  	Hertz
                                         Richmond Holdings, LLC

	120

	  	06/01/25

	  	360

	  	360

	  	     105,737.11

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	16.01

	  	JPMCB

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	16.02

	  	JPMCB

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	16.03

	  	JPMCB

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	17

	  	Barclays

	  	Seaside
                                         North, LLC

	119

	  	05/06/25

	  	360

	  	360

	  	     104,512.21

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	18

	  	RAIT

	  	CH
                                         Bedford Hotel Partners, LLC

	119

	  	05/01/25

	  	360

	  	359

	  	        95,920.86

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	19

	  	Barclays

	  	SSSP
                                         Preakness, LLC, SSSP Woodstock, LLC, SSSP Altamonte Springs, LLC, SSSP Augusta, LLC,
                                         SSSP Marietta, LLC, SSSP Shepherd Drive Decatur, LLC, SSSP Valrico, LLC

	120

	 	06/06/25

	 	360

	 	360	 	96,850.34	 	0.00500	 	Actual/360	 	No	 	  	  	Fee

	 	No

	 
	19.01

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.02

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.03

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.04

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.05

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.06

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	19.07

	  	Barclays

	  	  	120

	  	  	  	360

	  	360

	  	 

	  	  	  	  	  	  	  	  	  	Fee

	  	  	  
	20

	  	SMF
                                      II

	  	Miami
                                         Gardens Drive, LLC

	120

	  	06/06/25

	  	360

	  	360

	  	        93,603.55

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	21

	  	JPMCB

	  	Argo
                                         80 SW 8th St LLC

	58

	  	04/01/20

	  	360

	  	360

	  	        88,431.15

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	22

	  	JPMCB

	  	Ashley
                                         Bridgeway, LLC

	179

	  	05/01/30

	  	240

	  	239

	  	        97,717.31

	  	0.03250

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	23

	  	JPMCB

	  	PMD
                                         I, LLC

	60

	  	06/01/20

	  	360

	  	360

	  	        85,224.49

	  	0.03250

	  	Actual/360

	  	No

	  	  	  	Leasehold

	  	No

	  
	24

	  	JPMCB

	  	The
                                         Heights LLC

	179

	  	05/01/30

	  	180

	  	179

	  	     111,037.65

	  	0.05250

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	25

	  	RCMC

	  	The
                                         Garden District - Auburn, Ltd.

	120

	  	06/05/25

	  	360

	  	360

	  	        69,905.15

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	26

	  	Barclays

	  	El
                                         Paseo Collection, A California Limited Partnership, El Paseo Collection II, LP

	119

	 	05/06/25	 	360	 	360	 	64,093.57

	 	0.00500	 	Actual/360	 	No	 	  	  	Fee	 	No	 

	27

	  	JPMCB

	  	Vision
                                         Cobb Place LLC

	118

	  	04/01/25

	  	300

	  	298

	  	        61,978.37

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	28

	  	SMF
                                      II

	  	NMR
                                         Charleston, LLC

	119

	  	05/06/25

	  	300

	  	299

	  	        58,535.38

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	29

	  	JPMCB

	  	Hertz
                                         Worcester Chestnut Place, LLC

	118

	  	04/01/25

	  	360

	  	358

	  	        50,857.72

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	30

	  	RCMC

	  	San
                                         Bruno Partners, LLC

	118

	  	04/05/25

	  	360

	  	360

	  	        46,995.11

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	31

	  	SMF
                                      II

	  	Winston
                                         Jacksonville Fund Owner, LLC

	118

	  	04/06/25

	  	360

	  	358

	  	        46,262.77

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	32

	  	RCMC

	  	ASHH,
                                         LLC

	119

	  	05/05/25

	  	360

	  	360

	  	        44,756.25

	  	0.06250

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	33

	  	RCMC

	  	Hexon
                                         Whitemarsh Self Storage IV LLC

	118

	  	04/05/25

	  	360

	  	360

	  	        44,303.85

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	34

	  	RCMC

	  	The
                                         Weatherly Building, LLC

	120

	  	06/05/25

	  	360

	  	360

	  	        44,305.25

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	35

	  	SMF
                                      II

	  	Northsight,
                                         LLC

	119

	  	05/06/25

	  	360

	  	360

	  	        42,154.72

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	36

	  	JPMCB

	  	Destin
                                         98, LLC

	118

	  	04/01/25

	  	360

	  	358

	  	        40,727.45

	  	0.04500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	37

	  	RCMC

	  	FAC
                                         NEBO Shopping Center, LLC

	119

	  	05/05/25

	  	360

	  	360

	  	        39,028.05

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	38

	  	Barclays

	  	1800
                                         16th Street, LLC

	120

	  	06/06/25

	  	360

	  	360

	  	        39,589.72

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	39

	  	Barclays

	  	Ocala
                                         Park Limited Partnership

	118

	  	04/06/25

	  	360

	  	358

	  	        38,377.94

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	40

	  	RCMC

	  	Continental
                                         Windwood Centre, LLC

	120

	  	06/05/25

	  	360

	  	360

	  	        37,247.59

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	41

	  	RCMC

	  	2560
                                         Dixwell Medical, LLC

	120

	  	06/01/25

	  	360

	  	360

	  	        34,190.36

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	42

	  	Barclays

	  	Woodlands
                                         Medical Properties, LP

	119

	  	05/06/25

	  	360

	  	360

	  	        32,855.58

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	43

	  	JPMCB

	  	Midas
                                         Greenville, LLC

	118

	  	04/01/25

	  	300

	  	298

	  	        35,939.75

	  	0.04500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	44

	  	Barclays

	  	Lamberton
                                         Partners, LLC

	118

	  	04/06/25

	  	360

	  	360

	  	        30,259.05

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	45

	  	JPMCB

	  	Jairaj
                                         Dupont, LLC

	118

	  	04/01/25

	  	360

	  	358

	  	        31,996.08

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	46

	  	SMF
                                      II

	  	CP
                                         Lyons Station SC LLC

	119

	  	05/06/25

	  	360

	  	360

	  	        29,938.31

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	47

	  	Barclays

	  	Cavalier
                                         Building, LLC

	119

	  	05/06/25

	  	0

	  	0

	  	        20,810.40

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	48

	  	SMF
                                      II

	  	Intervest-Plantation,
                                         LLC

	119

	  	05/06/25

	  	360

	  	360

	  	        30,907.80

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	49

	  	RCMC

	  	Washington
                                         Medical, LLC

	120

	  	06/01/25

	  	360

	  	360

	  	        29,149.72

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	50

	  	JPMCB

	  	Creekside
                                         Square Realty I, LLC

	120

	  	06/01/25

	  	300

	  	300

	  	        31,137.06

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	51

	  	RCMC

	  	Lake
                                         Davidson Village Patton Square SPE, LLC, Turner Family Investments Patton Square, SPE,
                                         LLC, Wooddall Holdings Patton Square SPE, LLC

	120

	 	06/05/25	 	360

	 	360

	 	28,324.26

	 	0.00500

	 	Actual/360

	 	No

	 	  	  	Fee

	 	No

	 
	52

	  	RAIT

	  	14001
                                         Weston Parkway LLC

	119

	  	05/01/25

	  	300

	  	299

	  	        30,978.04

	  	0.06250

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	53

	  	Barclays

	  	Rockmead
                                         Medical Properties, LP

	119

	  	05/06/25

	  	360

	  	360

	  	        23,961.84

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	54

	  	Barclays

	  	Airport
                                         Austin Business Park Owner, LLC

	117

	  	03/06/25

	  	360

	  	360

	  	        22,038.62

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	55

	  	RAIT

	  	Yale
                                         Orangeburg, LLC

	119

	  	05/01/25

	  	360

	  	360

	  	        22,677.17

	  	0.10250

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	56

	  	RAIT

	  	4575
                                         Altama, LLC

	120

	  	06/01/25

	  	360

	  	360

	  	        21,254.23

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	57

	  	Barclays

	  	2751
                                         Roosevelt Road, LLC

	117

	  	03/06/25

	  	360

	  	360

	  	        20,304.18

	  	0.04500

	  	Actual/360

	  	No

	  	  	  	Leasehold

	  	No

	  
	58

	  	RCMC

	  	Real
                                         Capital II, LLC

	120

	  	06/05/25

	  	360

	  	360

	  	        19,983.21

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	59

	  	Barclays

	  	Dakota
                                         Estates, LLC

	118

	  	04/06/25

	  	360

	  	358

	  	        19,677.60

	  	0.05500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	60

	  	RAIT

	  	Fair
                                         Oaks Parkway Associates, LLC

	118

	  	04/01/25

	  	0

	  	0

	  	        13,050.95

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	61

	  	RCMC

	  	L’Abri
                                         Associates, LLC

	118

	  	04/05/25

	  	360

	  	358

	  	        17,858.14

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	62

	  	RAIT

	  	Hutto
                                         Associates, LLC

	118

	  	04/01/25

	  	0

	  	0

	  	          8,901.98

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  
	63

	  	Barclays

	  	Hill
                                         Trust Delaware LLC

	119

	  	05/06/25

	  	360

	  	359

	  	        12,857.98

	  	0.00500

	  	Actual/360

	  	No

	  	  	  	Fee

	  	No

	  

    	2

    	 

    

 

	JPMBB
                                         2015-C29 - Combined

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 

	  	  	  	  	  	  	  	  	  	  	UPFRONT
                                         ESCROW

	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Loan
                                         ID #

	 
	Originator/Loan
                                         

                                         Seller

	 
	Mortgagor
                                         Name

	Cross
                                         Defaulted 

                                         Loan

	 
	Guarantor

	 
	Letter
                                         of Credit

	 
	Upfront
                                         CapEx 

                                         Reserve

	 
	Upfront
                                         Eng. 

                                         Reserve

	 
	Upfront
                                         Envir. 

                                         Reserve

	 
	Upfront
                                         TI/LC 

                                         Reserve

	 
	Upfront
                                         RE 

                                         Tax Reserve

	 
	Upfront
                                         Ins. 

                                         Reserve

	 
	Upfront
                                         Other 

                                         Reserve

	 
	  
	1

	  	RAIT

	  	Mikeone
                                         EK M Street Holdings, LLC

	No

	  	EK
                                         2013 Family Trust, Michael Klein

	  	No

	  	0

	  	0

	  	0

	  	2,328,880

	  	369,150

	  	21,945

	  	888,242

	  	  
	2

	  	JPMCB

	  	BRI
                                         1850 Houston OCC, LLC

	No

	  	Accesso
                                         Partners, LLC

	  	No

	  	10,036

	  	160,501

	  	0

	  	62,500

	  	954,924

	  	0

	  	6,465,403

	  	  
	3

	  	JPMCB

	  	Hertz
                                         Texaco Center, LLC

	No

	  	William
                                         Z. Hertz, Isaac Hertz, Sarah Hertz

	  	No

	  	9,925

	  	28,125

	  	0

	  	1,500,000

	  	336,644

	  	0

	  	523,717

	  	  
	4

	  	Barclays

	  	Cole
                                         MT West Covina (Lakes) CA, LP, ARCP MT Grovetown GA, LLC, Cole MT Albuquerque (San Mateo)
                                         NM, LLC, Cole MT Beavercreek OH, LLC, Cole MT Greenwood SC, LLC, Cole MT Marion IN, LLC

	No

	 	Cole
                                      Operating Partnership IV, LP

	 	No

	 	0

	 	0

	 	0

	 	0

	 	0

	 	0

	 	0

	 	  
	4.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	4.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	4.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	4.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	4.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	4.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5

	  	Barclays

	  	ARCP
                                         MT Inglewood CA, LP, Cole MT Canton GA, LLC, Cole MT Columbia SC, LLC, Cole MT East Manchester
                                         PA, LLC, Cole MT Marietta GA, LLC, Cole MT San Antonio (Highway 151) TX, LLC

	No

	 	Cole
                                      Operating Partnership IV, LP

	 	No

	 	0

	 	0

	 	0

	 	0

	 	0

	 	0

	 	0

	 	  
	5.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	5.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	6

	  	JPMCB

	  	Elite
                                         Street Alta Woodlake Square, LLC

	No

	  	Yehonatan
                                         Sade

	  	No

	  	4,267

	  	33,000

	  	0

	  	0

	  	367,577

	  	22,936

	  	0

	  	  
	7

	  	Barclays

	  	Little
                                         Palm Island Associates, Ltd.

	No

	  	The
                                         Colee Family Trust Under Agreement And Declaration Of Trust Dated December 20, 1997,
                                         Patrick R. Colee, Diane F. Colee

	  	No

	  	0

	  	0

	  	0

	  	0

	  	59,523

	  	168,661

	  	1,650,000

	  	  
	8

	  	JPMCB

	  	AWH-BP
                                         Annapolis Hotel, LLC, AWH-BP Grand Rapids Hotel, LLC, AWH-BP Jackson Hotel, LLC

	No

	 	Chad
                                      Cooley, Russell Flicker, Jonathan Rosenfeld, Bernard Michael

	 	No

	 	116,939

	 	70,725

	 	0

	 	0

	 	375,291

	 	0	 

	1,515,449

	 	  
	8.01

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	8.02

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	8.03

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	9

	  	JPMCB

	  	Lenox
                                         Towers, L.P.

	No

	  	Robert
                                         C. Goddard, III

	  	No

	  	6,314

	  	0

	  	0

	  	41,667

	  	516,948

	  	0

	  	1,159,257

	  	  
	10

	  	SMF
                                      II

	  	BFO
                                         Factory Shoppes LLC

	No

	  	Horizon
                                         Group Properties, Inc.

	  	No

	  	0

	  	0

	  	0

	  	200,000

	  	151,880

	  	133,817

	  	0

	  	  
	10.01

	  	SMF
                                      II

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	10.02

	  	SMF
                                      II

	  	 

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	10.03

	  	SMF
                                      II

	  	 

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	11

	  	RAIT

	  	Breckenridge
                                         Group Corpus Christi Texas, LP

	No

	  	Aspen
                                         Heights, Capital Solutions, Inc., Gregory Henry

	  	No

	  	0

	  	0

	  	0

	  	0

	  	62,016

	  	55,026

	  	0

	  	  
	12

	  	JPMCB

	  	Shaner
                                         Pittsburgh Hotel Limited Partnership

	No

	  	Lance
                                         T. Shaner

	  	No

	  	0

	  	57,530

	  	0

	  	0

	  	267,171

	  	101,105

	  	2,925

	  	  
	13

	  	SMF
                                      II

	  	Golden
                                         Triangle #1, LLC

	No

	  	Daniel
                                         S. Levine

	  	No

	  	0

	  	0

	  	0

	  	0

	  	70,723

	  	32,803

	  	0

	  	  
	14

	  	JPMCB

	  	COFE
                                         Town Center, LLC

	No

	  	Eugenio
                                         Cosculluela, Jr., Mario A. Fernandez

	  	No

	  	75,000

	  	0

	  	62,500

	  	475,000

	  	122,526

	  	0

	  	1,140,425

	  	  
	15

	  	RCMC

	  	Carson
                                         Hotel, LLC

	No

	  	Ensemble
                                         Investments, LLC

	  	No

	  	0

	  	0

	  	0

	  	0

	  	60,735

	  	32,224

	  	0

	  	  
	16

	  	JPMCB

	  	Hertz
                                         Richmond Holdings, LLC

	No

	  	William
                                         Z. Hertz, Isaac Hertz, Sarah Hertz

	  	No

	  	6,900

	  	27,719

	  	0

	  	53,000

	  	24,900

	  	0

	  	710,729

	  	  
	16.01

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	16.02

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	16.03

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	17

	  	Barclays

	  	Seaside
                                         North, LLC

	No

	  	Seaside
                                         Community Development Corp.

	  	No

	  	0

	  	560,418

	  	0

	  	0

	  	56,995

	  	0

	  	0

	  	  
	18

	  	RAIT

	  	CH
                                         Bedford Hotel Partners, LLC

	No

	  	Phillip
                                         H. McNeill Sr., Robert G. Schaedle

	  	No

	  	0

	  	0

	  	0

	  	0

	  	86,728

	  	65,262

	  	0

	  	  
	19

	  	Barclays

	  	SSSP
                                         Preakness, LLC, SSSP Woodstock, LLC, SSSP Altamonte Springs, LLC, SSSP Augusta, LLC,
                                         SSSP Marietta, LLC, SSSP Shepherd Drive Decatur, LLC, SSSP Valrico, LLC

	No

	 	Kurt O’Brien	 	No	 	 0	 	147,875

	 	0

	 	0	 	156,592

	 	20,031

	 	0

	 	  
	19.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	19.07

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	20

	  	SMF
                                      II

	  	Miami
                                         Gardens Drive, LLC

	No

	  	Agustin
                                         Herran

	  	No

	  	0

	  	59,058

	  	0

	  	0

	  	171,482

	  	52,244

	  	1,398,585

	  	  
	21

	  	JPMCB

	  	Argo
                                         80 SW 8th St LLC

	No

	  	Harold
                                         Rosenblum

	  	No

	  	9,900

	  	0

	  	0

	  	0

	  	78,965

	  	12,567

	  	2,068,190

	  	  
	22

	  	JPMCB

	  	Ashley
                                         Bridgeway, LLC

	No

	  	Ashley
                                         Holdings IV, LLC

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	800,000

	  	  
	23

	  	JPMCB

	  	PMD
                                         I, LLC

	No

	  	TH
                                         Investment Holdings II, LLC

	  	No

	  	25,455

	  	0

	  	0

	  	0

	  	119,475

	  	8,341

	  	2,441,581

	  	  
	24

	  	JPMCB

	  	The
                                         Heights LLC

	No

	  	Stuart
                                         Frankel

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	25

	  	RCMC

	  	The
                                         Garden District - Auburn, Ltd.

	No

	  	Howard
                                         Hill Weissinger, Charles Milton Weissinger, Rae Weissinger, John Marshall Crutcher, Jr.

	  	No

	  	0

	  	0

	  	0

	  	0

	  	108,589

	  	28,517

	  	0

	  	  
	26

	  	Barclays

	  	El
                                         Paseo Collection, A California Limited Partnership, El Paseo Collection II, LP

	No

	 	Fred
                                      A. Fern

	 	No

	 	0

	 	0

	 	0

	 	0

	 	0	 	0

	 	0

	 	  
	27

	  	JPMCB

	  	Vision
                                         Cobb Place LLC

	No

	  	Mitch
                                         (Mitul) Patel

	  	No

	  	11,726

	  	0

	  	0

	  	0

	  	50,036

	  	0

	  	0

	  	  
	28

	  	SMF
                                      II

	  	NMR
                                         Charleston, LLC

	No

	  	Ramesh
                                         C. Shah

	  	No

	  	0

	  	0

	  	0

	  	0

	  	60,987

	  	36,139

	  	0

	  	  
	29

	  	JPMCB

	  	Hertz
                                         Worcester Chestnut Place, LLC

	No

	  	William
                                         Z. Hertz, Isaac Hertz, Sarah Hertz

	  	No

	  	5,239

	  	243,515

	  	0

	  	1,000,000

	  	0

	  	0

	  	929,131

	  	  
	30

	  	RCMC

	  	San
                                         Bruno Partners, LLC

	No

	  	Paul
                                         Karakashian

	  	No

	  	0

	  	0

	  	0

	  	0

	  	21,111

	  	2,480

	  	0

	  	  
	31

	  	SMF
                                      II

	  	Winston
                                         Jacksonville Fund Owner, LLC

	No

	  	Robert
                                         W. Winston, III

	  	No

	  	0

	  	0

	  	0

	  	0

	  	60,063

	  	0

	  	0

	  	  
	32

	  	RCMC

	  	ASHH,
                                         LLC

	No

	  	Jeffrey
                                         Rappin, Stephen Rappin

	  	No

	  	0

	  	0

	  	0

	  	0

	  	20,868

	  	35,529

	  	0

	  	  
	33

	  	RCMC

	  	Hexon
                                         Whitemarsh Self Storage IV LLC

	No

	  	John
                                         A. O’Donnell, The Hexon 1989 Revocable Trust

	  	No

	  	0

	  	0

	  	0

	  	0

	  	63,692

	  	10,367

	  	0

	  	  
	34

	  	RCMC

	  	The
                                         Weatherly Building, LLC

	No

	  	John
                                         M. Klimp

	  	No

	  	0

	  	0

	  	0

	  	0

	  	100,100

	  	10,749

	  	0

	  	  
	35

	  	SMF
                                      II

	  	Northsight,
                                         LLC

	No

	  	Bruce
                                         Shapiro, Marko C. Burns

	  	No

	  	50,000

	  	0

	  	0

	  	125,000

	  	54,120

	  	4,255

	  	0

	  	  
	36

	  	JPMCB

	  	Destin
                                         98, LLC

	No

	  	Phillip
                                         H. McNeill, Sr., Robert G. Schaedle, III

	  	No

	  	5,152

	  	0

	  	0

	  	0

	  	8,775

	  	0

	  	0

	  	  
	37

	  	RCMC

	  	FAC
                                         NEBO Shopping Center, LLC

	No

	  	David
                                         A. Pearson, Paul A. Pearson, Jr., John M. Pearson

	  	No

	  	0

	  	0

	  	0

	  	0

	  	219,096

	  	12,369

	  	0

	  	  
	38

	  	Barclays

	  	1800
                                         16th Street, LLC

	No

	  	Herbert
                                         F. Reid, Jr., Herbert J. Reid III

	  	No

	  	0

	  	4,038

	  	0

	  	0

	  	1,520

	  	21,000

	  	0

	  	  
	39

	  	Barclays

	  	Ocala
                                         Park Limited Partnership

	No

	  	Charles
                                         Garfunkel

	  	No

	  	0

	  	180,283

	  	0

	  	100,000

	  	12,134

	  	8,389

	  	120,000

	  	  
	40

	  	RCMC

	  	Continental
                                         Windwood Centre, LLC

	No

	  	Jeremy
                                         R. McLendon, Ted M. Sherman

	  	No

	  	0

	  	61,150

	  	0

	  	250,000

	  	11,753

	  	8,333

	  	316,062

	  	  
	41

	  	RCMC

	  	2560
                                         Dixwell Medical, LLC

	No

	  	Harden
                                         L. Crawford IV

	  	No

	  	0

	  	0

	  	0

	  	0

	  	47,243

	  	10,136

	  	0

	  	  
	42

	  	Barclays

	  	Woodlands
                                         Medical Properties, LP

	No

	  	Ted
                                         L. Barr, Joseph G. Greulich, Benjamin D. Sheridan

	  	No

	  	0

	  	0

	  	0

	  	0

	  	41,833

	  	2,331

	  	0

	  	  
	43

	  	JPMCB

	  	Midas
                                         Greenville, LLC

	No

	  	Matthew
                                         A. Mills

	  	No

	  	0

	  	0

	  	0

	  	0

	  	44,437

	  	0

	  	0

	  	  
	44

	  	Barclays

	  	Lamberton
                                         Partners, LLC

	No

	  	William
                                         M. Warfield

	  	No

	  	0

	  	64,688

	  	0

	  	0

	  	80,022

	  	0

	  	0

	  	  
	45

	  	JPMCB

	  	Jairaj
                                         Dupont, LLC

	No

	  	Jason
                                         Patel

	  	No

	  	7,430

	  	0

	  	0

	  	0

	  	56,762

	  	20,788

	  	0

	  	  
	46

	  	SMF
                                      II

	  	CP
                                         Lyons Station SC LLC

	No

	  	William
                                         R. Rothacker

	  	No

	  	0

	  	96,370

	  	0

	  	0

	  	20,854

	  	11,296

	  	0

	  	  
	47

	  	Barclays

	  	Cavalier
                                         Building, LLC

	No

	  	Brennon
                                         A. Fitzpatrick

	  	No

	  	0

	  	0

	  	0

	  	0

	  	37,832

	  	11,953

	  	0

	  	  
	48

	  	SMF
                                      II

	  	Intervest-Plantation,
                                         LLC

	No

	  	Villa
                                         Terrace Holding Corp.

	  	No

	  	0

	  	0

	  	0

	  	0

	  	78,280

	  	56,416

	  	0

	  	  
	49

	  	RCMC

	  	Washington
                                         Medical, LLC

	No

	  	Harden
                                         L. Crawford IV

	  	No

	  	0

	  	0

	  	0

	  	125,000

	  	61,030

	  	12,028

	  	0

	  	  
	50

	  	JPMCB

	  	Creekside
                                         Square Realty I, LLC

	No

	  	Raed
                                         I. Qadorh-Zidan, Hani Qaddoura Zidan

	  	No

	  	2,667

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	51

	  	RCMC

	  	Lake
                                         Davidson Village Patton Square SPE, LLC, Turner Family Investments Patton Square, SPE,
                                         LLC, Wooddall Holdings Patton Square SPE, LLC

	No

	 	Ron
                                      L. Turner, Jr., C. Lee Wooddall

	 	No

	 	0

	 	36,900

	 	0

	 	0

	 	85,590

	 	2,481

	 	58,300

	 	  
	52

	  	RAIT

	  	14001
                                         Weston Parkway LLC

	No

	  	Covina
                                         Canoy-Tonel, James V. Noto, Deborah Anne Hosler, Geoffrey V. Gray

	  	No

	  	162,000

	  	25,625

	  	0

	  	65,000

	  	42,500

	  	4,303

	  	857,412

	  	  
	53

	  	Barclays

	  	Rockmead
                                         Medical Properties, LP

	No

	  	Ted
                                         L. Barr, Joseph G. Greulich, Benjamin D. Sheridan

	  	No

	  	0

	  	1,875

	  	0

	  	0

	  	26,366

	  	968

	  	0

	  	  
	54

	  	Barclays

	  	Airport
                                         Austin Business Park Owner, LLC

	No

	  	Arthur
                                         B. Birtcher, Robert M. Anderson

	  	No

	  	0

	  	178,788

	  	0

	  	100,000

	  	12,834

	  	0

	  	0

	  	  
	55

	  	RAIT

	  	Yale
                                         Orangeburg, LLC

	No

	  	Yale
                                         I. Paprin

	  	No

	  	0

	  	37,875

	  	0

	  	0

	  	49,930

	  	22,037

	  	0

	  	  
	56

	  	RAIT

	  	4575
                                         Altama, LLC

	No

	  	Kenneth
                                         Wornick

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	57

	  	Barclays

	  	2751
                                         Roosevelt Road, LLC

	No

	  	Tower
                                         Investments, LLC

	  	No

	  	0

	  	10,625

	  	0

	  	0

	  	0

	  	3,464

	  	150,000

	  	  
	58

	  	RCMC

	  	Real
                                         Capital II, LLC

	No

	  	Jeffrey
                                         N. Budgell

	  	No

	  	0

	  	0

	  	0

	  	150,000

	  	31,703

	  	3,137

	  	0

	  	  
	59

	  	Barclays

	  	Dakota
                                         Estates, LLC

	No

	  	Kim
                                         Willers

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	60

	  	RAIT

	  	Fair
                                         Oaks Parkway Associates, LLC

	No

	  	Robert
                                         Ridino

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	61

	  	RCMC

	  	L’Abri
                                         Associates, LLC

	No

	  	Daniel
                                         M. Lynch

	  	No

	  	0

	  	0

	  	0

	  	0

	  	17,983

	  	19,614

	  	0

	  	  
	62

	  	RAIT

	  	Hutto
                                         Associates, LLC

	No

	  	Friesell
                                         Family Revocable Trust, Jon H. Friesell, Marcia M. Friesell

	  	No

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	0

	  	  
	63

	  	Barclays

	  	Hill
                                         Trust Delaware LLC

	No

	  	Vance
                                         K. Hill, Deanna S. Hill

	  	No

	  	0

	  	0

	  	0

	  	164,000

	  	6,299

	  	872

	  	0

	  	  

 

    	3

    
    	 

    

	JPMBB
                                         2015-C29 - Combined

	  	 dd

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 

	  	  	  	  	  	 PERIODIC
                                         ESCROW

	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	Grace
                                         Period

	  	  	  	  	  	  	  	  	  
	Loan
                                         ID #

	 
	Originator/Loan
                                         

                                         Seller

	 
	Mortgagor
                                         Name

	 
	 Monthly
                                         Capex Reserve

	 
	 Monthly
                                         Envir. 

                                         Reserve

	 
	 Monthly
                                         TI/LC 

                                         Reserve

	 
	 Monthly
                                         RE 

                                         Tax Reserve

	 
	 Monthly
                                         Ins. Reserve

	 
	 Monthly
                                         Other Reserve

	 
	 (Late
                                         Payment)

	 
	Cash-Management

                                         Account or 

                                         Lockbox In-place

	 
	General
                                         Property Type

	 
	Defeasance
                                         

                                         Permitted

	 
	Final
                                         

                                         Maturity 

                                         Date

	  
	1

	  	RAIT

	  	Mikeone
                                         EK M Street Holdings, LLC

	  	4,489

	  	0

	  	80,065

	  	147,660

	  	7,315

	  	0

	  	5

	  	 No

	  	Office

	  	Yes

	  	  	  
	2

	  	JPMCB

	  	BRI
                                         1850 Houston OCC, LLC

	  	10,036

	  	0

	  	62,500

	  	318,308

	  	Springing

	  	Springing

	  	0

	  	 Yes

	  	Office

	  	No

	  	  	  
	3

	  	JPMCB

	  	Hertz
                                         Texaco Center, LLC

	  	9,925

	  	0

	  	59,557

	  	84,200

	  	Springing

	  	0

	  	0

	  	 Yes

	  	Mixed
                                      Use

	  	No

	  	  	  
	4

	  	Barclays

	  	Cole
                                         MT West Covina (Lakes) CA, LP, ARCP MT Grovetown GA, LLC, Cole MT Albuquerque (San Mateo)
                                         NM, LLC, Cole MT Beavercreek OH, LLC, Cole MT Greenwood SC, LLC, Cole MT Marion IN, LLC  

	5,671

	 	0

	 	28,354

	 	Springing	 	Springing

	 	0

	 	0

	 	 Yes

	 	Retail

	 	No

	 	  	  
	4.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	4.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	4.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	4.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	4.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	4.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5

	  	Barclays

	  	ARCP
                                         MT Inglewood CA, LP, Cole MT Canton GA, LLC, Cole MT Columbia SC, LLC, Cole MT East Manchester
                                         PA, LLC, Cole MT Marietta GA, LLC, Cole MT San Antonio (Highway 151) TX, LLC

	4,599

	 	0

	 	22,994

	 	Springing

	 	Springing

	 	0

	 	0

	 	 Yes

	 	Retail

	 	No

	 	  	  
	5.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	5.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Retail

	  	  	  	  	  
	6

	  	JPMCB

	  	Elite
                                         Street Alta Woodlake Square, LLC

	  	4,267

	  	0

	  	0

	  	61,263

	  	7,645

	  	0

	  	0

	  	 No

	  	Multifamily

	  	No

	  	  	  
	7

	  	Barclays

	  	Little
                                         Palm Island Associates, Ltd.

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	11,905

	  	60,475

	  	Springing

	  	0

	  	 Yes

	  	Hotel

	  	Yes

	  	  	  
	8

	  	JPMCB

	  	AWH-BP
                                         Annapolis Hotel, LLC, AWH-BP Grand Rapids Hotel, LLC, AWH-BP Jackson Hotel, LLC

	4%
                                      of Gross Revenues

	 	0

	 	0	 	78,882

	 	Springing	 	Springing

	 	0

	 	 Yes

	 	Hotel

	 	No

	 	  	  
	8.01

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Hotel

	  	  	  	  	  
	8.02

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Hotel

	  	  	  	  	  
	8.03

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Hotel

	  	  	  	  	  
	9

	  	JPMCB

	  	Lenox
                                         Towers, L.P.

	  	6,314

	  	0

	  	41,667

	  	57,439

	  	Springing

	  	0

	  	0

	  	 No

	  	Office

	  	No

	  	  	  
	10

	  	SMF
                                      II

	  	BFO
                                         Factory Shoppes LLC

	  	10,406

	  	0

	  	34,730

	  	89,263

	  	18,572

	  	0

	  	0

	  	 Yes

	  	Retail

	  	Yes

	  	  	  
	10.01

	  	SMF
                                      II

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	Retail

	  	  	  	  	  
	10.02

	  	SMF
                                      II

	  	 

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	Retail

	  	  	  	  	  
	10.03

	  	SMF
                                      II

	  	 

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	Retail

	  	  	  	  	  
	11

	  	RAIT

	  	Breckenridge
                                         Group Corpus Christi Texas, LP

	  	4,167

	  	0

	  	0

	  	62,016

	  	11,005

	  	0

	  	5

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	12

	  	JPMCB

	  	Shaner
                                         Pittsburgh Hotel Limited Partnership

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	30,400

	  	16,851

	  	2,925

	  	0

	  	 Yes

	  	Hotel

	  	Yes

	  	  	  
	13

	  	SMF
                                      II

	  	Golden
                                         Triangle #1, LLC

	  	5,396

	  	0

	  	0

	  	14,145

	  	3,645

	  	0

	  	0

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	14

	  	JPMCB

	  	COFE
                                         Town Center, LLC

	  	Springing

	  	0

	  	Springing

	  	17,504

	  	Springing

	  	0

	  	0

	  	 No

	  	Mixed
                                      Use

	  	No

	  	  	  
	15

	  	RCMC

	  	Carson
                                         Hotel, LLC

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	30,368

	  	8,056

	  	Springing

	  	0

	  	 Yes

	  	Hotel

	  	Yes

	  	  	  
	16

	  	JPMCB

	  	Hertz
                                         Richmond Holdings, LLC

	  	6,900

	  	0

	  	53,000

	  	24,900

	  	Springing

	  	0

	  	0

	  	 Yes

	  	Office

	  	No

	  	  	  
	16.01

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Office

	  	  	  	  	  
	16.02

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Office

	  	  	  	  	  
	16.03

	  	JPMCB

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Office

	  	  	  	  	  
	17

	  	Barclays

	  	Seaside
                                         North, LLC

	  	901

	  	0

	  	5,366

	  	8,142

	  	9,474

	  	0

	  	0

	  	 Yes

	  	Retail

	  	Yes

	  	  	  
	18

	  	RAIT

	  	CH
                                         Bedford Hotel Partners, LLC

	  	2%
                                         of Gross Revenues

	  	0

	  	0

	  	21,682

	  	5,020

	  	0

	  	5

	  	 No

	  	Hotel

	  	Yes

	  	  	  
	19

	  	Barclays

	  	SSSP
                                         Preakness, LLC, SSSP Woodstock, LLC, SSSP Altamonte Springs, LLC, SSSP Augusta, LLC,
                                         SSSP Marietta, LLC, SSSP Shepherd Drive Decatur, LLC, SSSP Valrico, LLC

	3,545

	 	0

	 	0

	 	26,099

	 	6,677

	 	0

	 	5
                                      (Once per year)

	 	 No

	 	Self
                                      Storage

	 	Yes

	 	  	  
	19.01

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.02

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.03

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.04

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.05

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.06

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	19.07

	  	Barclays

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 

	  	Self
                                      Storage

	  	  	  	  	  
	20

	  	SMF
                                      II

	  	Miami
                                         Gardens Drive, LLC

	  	4,040

	  	0

	  	6,271

	  	24,497

	  	14,051

	  	0

	  	0

	  	 No

	  	Mixed
                                      Use

	  	Yes

	  	  	  
	21

	  	JPMCB

	  	Argo
                                         80 SW 8th St LLC

	  	9,900

	  	0

	  	0

	  	26,322

	  	Springing

	  	Springing

	  	0

	  	 Yes

	  	Multifamily

	  	No

	  	  	  
	22

	  	JPMCB

	  	Ashley
                                         Bridgeway, LLC

	  	Springing

	  	0

	  	Springing

	  	Springing

	  	Springing

	  	Springing

	  	0

	  	 No

	  	Industrial

	  	No

	  	  	  
	23

	  	JPMCB

	  	PMD
                                         I, LLC

	  	3%
                                         of Gross Revenues

	  	0

	  	0

	  	13,275

	  	Springing

	  	59,864

	  	0

	  	 Yes

	  	Hotel

	  	No

	  	  	  
	24

	  	JPMCB

	  	The
                                         Heights LLC

	  	0

	  	0

	  	0

	  	Springing

	  	Springing

	  	0

	  	5

	  	 No

	  	Retail

	  	No

	  	  	  
	25

	  	RCMC

	  	The
                                         Garden District - Auburn, Ltd.

	  	6,400

	  	0

	  	0

	  	12,065

	  	3,551

	  	0

	  	0

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	26

	  	Barclays

	  	El
                                         Paseo Collection, A California Limited Partnership, El Paseo Collection II, LP

	Springing

	 	0

	 	0

	 	6,646

	 	Springing	 	0

	 	0

	 	 No

	 	Retail

	 	Yes

	 	  	  
	27

	  	JPMCB

	  	Vision
                                         Cobb Place LLC

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	7,148

	  	Springing

	  	Springing

	  	0

	  	 No

	  	Hotel

	  	Yes

	  	  	  
	28

	  	SMF
                                      II

	  	NMR
                                         Charleston, LLC

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	12,197

	  	4,624

	  	Springing

	  	0

	  	 No

	  	Hotel

	  	Yes

	  	  	  
	29

	  	JPMCB

	  	Hertz
                                         Worcester Chestnut Place, LLC

	  	5,239

	  	0

	  	Springing

	  	25,900

	  	Springing

	  	3,119

	  	0

	  	 Yes

	  	Office

	  	No

	  	  	  
	30

	  	RCMC

	  	San
                                         Bruno Partners, LLC

	  	868

	  	0

	  	0

	  	7,037

	  	827

	  	0

	  	0

	  	 No

	  	Self
                                      Storage

	  	Yes

	  	  	  
	31

	  	SMF
                                      II

	  	Winston
                                         Jacksonville Fund Owner, LLC

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	7,508

	  	Springing

	  	Springing

	  	0

	  	 No

	  	Hotel

	  	Yes

	  	  	  
	32

	  	RCMC

	  	ASHH,
                                         LLC

	  	4,725

	  	0

	  	0

	  	10,434

	  	2,733

	  	0

	  	0

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	33

	  	RCMC

	  	Hexon
                                         Whitemarsh Self Storage IV LLC

	  	722

	  	0

	  	0

	  	5,790

	  	864

	  	0

	  	0

	  	 No

	  	Self
                                      Storage

	  	Yes

	  	  	  
	34

	  	RCMC

	  	The
                                         Weatherly Building, LLC

	  	1,055

	  	0

	  	17,611

	  	11,122

	  	1,344

	  	0

	  	0

	  	 Yes

	  	Office

	  	Yes

	  	  	  
	35

	  	SMF
                                      II

	  	Northsight,
                                         LLC

	  	1,687

	  	0

	  	16,666

	  	18,040

	  	1,403

	  	Springing

	  	0

	  	 No

	  	Retail

	  	Yes

	  	  	  
	36

	  	JPMCB

	  	Destin
                                         98, LLC

	  	2%
                                         of Gross Revenues

	  	0

	  	0

	  	4,388

	  	Springing

	  	Springing

	  	0

	  	 No

	  	Hotel

	  	No

	  	  	  
	37

	  	RCMC

	  	FAC
                                         NEBO Shopping Center, LLC

	  	1,657

	  	0

	  	6,215

	  	32,704

	  	1,237

	  	0

	  	0

	  	 Yes

	  	Retail

	  	Yes

	  	  	  
	38

	  	Barclays

	  	1800
                                         16th Street, LLC

	  	931

	  	0

	  	0

	  	760

	  	2,333

	  	0

	  	0

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	39

	  	Barclays

	  	Ocala
                                         Park Limited Partnership

	  	831

	  	0

	  	Springing

	  	6,067

	  	4,195

	  	0

	  	0

	  	 Yes

	  	Retail

	  	No

	  	  	  
	40

	  	RCMC

	  	Continental
                                         Windwood Centre, LLC

	  	1,317

	  	0

	  	7,898

	  	5,877

	  	833

	  	0

	  	0

	  	 No

	  	Office

	  	Yes

	  	  	  
	41

	  	RCMC

	  	2560
                                         Dixwell Medical, LLC

	  	501

	  	0

	  	626

	  	6,749

	  	1,282

	  	0

	  	0

	  	 No

	  	Office

	  	Yes

	  	  	  
	42

	  	Barclays

	  	Woodlands
                                         Medical Properties, LP

	  	499

	  	0

	  	3,741

	  	10,458

	  	2,331

	  	0

	  	0

	  	 Yes

	  	Office

	  	Yes

	  	  	  
	43

	  	JPMCB

	  	Midas
                                         Greenville, LLC

	  	2%
                                         of Gross Revenues

	  	0

	  	0

	  	8,887

	  	Springing

	  	Springing

	  	0

	  	 No

	  	Hotel

	  	No

	  	  	  
	44

	  	Barclays

	  	Lamberton
                                         Partners, LLC

	  	3,000

	  	0

	  	0

	  	9,134

	  	Springing

	  	0

	  	0

	  	 Yes

	  	Multifamily

	  	Yes

	  	  	  
	45

	  	JPMCB

	  	Jairaj
                                         Dupont, LLC

	  	4%
                                         of Gross Revenues

	  	0

	  	0

	  	9,460

	  	1,401

	  	Springing

	  	0

	  	 Yes

	  	Hotel

	  	Yes

	  	  	  
	46

	  	SMF
                                      II

	  	CP
                                         Lyons Station SC LLC

	  	357

	  	0

	  	1,785

	  	10,427

	  	869

	  	0

	  	0

	  	 No

	  	Retail

	  	Yes

	  	  	  
	47

	  	Barclays

	  	Cavalier
                                         Building, LLC

	  	1,392

	  	0

	  	4,698

	  	9,458

	  	2,391

	  	0

	  	0

	  	 Yes

	  	Office

	  	Yes

	  	  	  
	48

	  	SMF
                                      II

	  	Intervest-Plantation,
                                         LLC

	  	774

	  	0

	  	9,357

	  	13,047

	  	4,381

	  	0

	  	0

	  	 No

	  	Office

	  	Yes

	  	  	  
	49

	  	RCMC

	  	Washington
                                         Medical, LLC

	  	586

	  	0

	  	733

	  	8,718

	  	1,272

	  	0

	  	0

	  	 No

	  	Office

	  	Yes

	  	  	  
	50

	  	JPMCB

	  	Creekside
                                         Square Realty I, LLC

	  	2,667

	  	0

	  	0

	  	11,250

	  	Springing

	  	0

	  	0

	  	 No

	  	Multifamily

	  	No

	  	  	  
	51

	  	RCMC

	  	Lake
                                         Davidson Village Patton Square SPE, LLC, Turner Family Investments Patton Square, SPE,
                                         LLC, Wooddall Holdings Patton Square SPE, LLC

	1,384

	 	0	 	3,064

	 	12,227

	 	1,241

	 	0

	 	0

	 	 No

	 	Retail

	 	  	 	  	  
	52

	  	RAIT

	  	14001
                                         Weston Parkway LLC

	  	1,315

	  	0

	  	4,144

	  	7,083

	  	717

	  	0

	  	5

	  	 Yes

	  	Industrial

	  	Yes

	  	  	  
	53

	  	Barclays

	  	Rockmead
                                         Medical Properties, LP

	  	467

	  	0

	  	2,337

	  	6,592

	  	968

	  	0

	  	0

	  	 Yes

	  	Office

	  	Yes

	  	  	  
	54

	  	Barclays

	  	Airport
                                         Austin Business Park Owner, LLC

	  	805

	  	0

	  	2,348

	  	6,417

	  	Springing

	  	0

	  	0

	  	 Yes

	  	Industrial

	  	Yes

	  	  	  
	55

	  	RAIT

	  	Yale
                                         Orangeburg, LLC

	  	1,438

	  	0

	  	4,167

	  	8,322

	  	1,836

	  	0

	  	5

	  	 No

	  	Retail

	  	Yes

	  	  	  
	56

	  	RAIT

	  	4575
                                         Altama, LLC

	  	0

	  	0

	  	0

	  	Springing

	  	Springing

	  	0

	  	5

	  	 No

	  	Retail

	  	Yes

	  	  	  
	57

	  	Barclays

	  	2751
                                         Roosevelt Road, LLC

	  	467

	  	0

	  	3,111

	  	7,928

	  	693

	  	Springing

	  	0

	  	 Yes

	  	Mixed
                                      Use

	  	Yes

	  	  	  
	58

	  	RCMC

	  	Real
                                         Capital II, LLC

	  	355

	  	0

	  	7,211

	  	6,341

	  	349

	  	0

	  	0

	  	 No

	  	Mixed
                                      Use

	  	Yes

	  	  	  
	59

	  	Barclays

	  	Dakota
                                         Estates, LLC

	  	1,273

	  	0

	  	0

	  	1,449

	  	1,302

	  	0

	  	0

	  	 No

	  	Multifamily

	  	Yes

	  	  	  
	60

	  	RAIT

	  	Fair
                                         Oaks Parkway Associates, LLC

	  	0

	  	0

	  	0

	  	Springing

	  	239

	  	0

	  	5

	  	 No

	  	Retail

	  	Yes

	  	  	  
	61

	  	RCMC

	  	L’Abri
                                         Associates, LLC

	  	666

	  	0

	  	0

	  	3,597

	  	1,635

	  	0

	  	0

	  	 No

	  	Self
                                      Storage

	  	Yes

	  	  	  
	62

	  	RAIT

	  	Hutto
                                         Associates, LLC

	  	0

	  	0

	  	0

	  	Springing

	  	212

	  	0

	  	5

	  	 No

	  	Retail

	  	Yes

	  	  	  
	63

	  	Barclays

	  	Hill
                                         Trust Delaware LLC

	  	533

	  	0

	  	Springing

	  	3,150

	  	436

	  	0

	  	0

	  	 Yes

	  	Office

	  	Yes

	  	  	  

 

    	4

    	 

    

 

EXHIBIT
C

 

FORM
OF INVESTMENT REPRESENTATION LETTER

  

Wells
Fargo Bank, National Association

as Certificate Administrator 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue

31st Floor

New York, New York 10179

Attention: Kunal K. Singh

 

		Re:	Transfer
                                         of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through
                                         Certificates, Series 2015-C29

 

Ladies
and Gentlemen:

 

This
letter is delivered pursuant to Section 5.03 of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as
Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association,
as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor, on behalf of the holders of JPMBB Commercial Mortgage Securities
Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29 (the “Certificates”) in connection
with the transfer by _________________ (the “Seller”) to the undersigned (the “Purchaser”)
of $_______________ aggregate Certificate Balance of Class ___ Certificates (the “Certificate”). Capitalized
terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Pooling and Servicing
Agreement.

 

In
connection with such transfer, the Purchaser hereby represents and warrants to you and the addressees hereof as follows:

 

1.          Check
one of the following:*

 

		☐	The
                                         Purchaser is not purchasing a Class R Certificate and the Purchaser is an institution
                                         that is an “accredited investor” (an “Institutional Accredited Investor”)

 

 

 

* Purchaser must include one
of the following two certifications.

 

    	Exhibit C-1

    	 

    

 

			within
                                         the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act
                                         of 1933, as amended (the “Securities Act”) or any entity in which
                                         all of the equity owners come within such paragraphs and has such knowledge and experience
                                         in financial and business matters as to be capable of evaluating the merits and risks
                                         of its investment in the Certificates, and the Purchaser and any accounts for which it
                                         is acting are each able to bear the economic risk of the Purchaser’s or such account’s
                                         investment. The Purchaser is acquiring the Certificates purchased by it for its own account
                                         or for one or more accounts, each of which is an Institutional Accredited Investor, as
                                         to each of which the Purchaser exercises sole investment discretion. The Purchaser hereby
                                         undertakes to reimburse the Trust Fund for any costs incurred by it in connection with
                                         this transfer.

 

		☐	The
                                         Purchaser is a “qualified institutional buyer” (a “QIB”)
                                         within the meaning of Rule 144A (“Rule 144A”) under the Securities
                                         Act. The Purchaser is aware that the transfer is being made in reliance on Rule 144A,
                                         and the Purchaser has had the opportunity to obtain the information required to be provided
                                         pursuant to paragraph (d)(4)(i) of Rule 144A.

 

2.          The
Purchaser’s intention is to acquire the Certificate (a) for investment for the Purchaser’s own account or (b) for
reoffer, resale, pledge or other transfer (i) to QIBs in transactions under Rule 144A, and not in any event with the view to,
or for resale in connection with, any distribution thereof, or (ii) (other than with respect to a Class R Certificate) to Institutional
Accredited Investors, subject in the case of clause (ii) above to (w) the receipt by the Certificate Registrar of a letter substantially
in the form hereof, (x) the receipt by the Certificate Registrar of an opinion of counsel acceptable to the Trustee and Certificate
Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act, (y) the receipt by the Certificate
Registrar of such other evidence acceptable to the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance
with the Securities Act and other applicable laws and (z) a written undertaking to reimburse the Trust Fund for any costs incurred
by it in connection with the proposed transfer. The Purchaser understands that the Certificate (and any subsequent Certificate)
has not been registered under the Securities Act, by reason of a specified exemption from the registration provisions of the Securities
Act which depends upon, among other things, the bona fide nature of the Purchaser’s investment intent (or intent to reoffer,
resell, pledge or transfer the Certificate only to certain investors in certain exempted transactions) as expressed herein.

 

3.          The
Purchaser has reviewed the Prospectus and the Prospectus Supplement relating to the Offered Certificates (collectively, the “Prospectus”)
(and, with respect to Offered Private Certificates, the Preliminary Private Placement Memorandum and the Final Private Placement
Memorandum related to such Offered Private Certificates) and the agreements and other materials referred to therein and has had
the opportunity to ask questions and receive answers concerning the terms and conditions of the transactions contemplated by the
Prospectus.

 

4.          The
Purchaser acknowledges that the Certificate (and any Certificate issued on transfer or exchange thereof) has not been registered
or qualified under the Securities Act or the securities laws of any State or any other jurisdiction, and that the Certificate
cannot be

 

    	Exhibit C-2

    	 

    

 

reoffered,
resold, pledged or otherwise transferred unless it is registered or qualified thereunder or unless an exemption from such registration
or qualification is available.

 

5.          The
Purchaser hereby undertakes to be bound by the terms and conditions of the Pooling and Servicing Agreement in its capacity as
an owner of a Certificate or Certificates, as the case may be (each, a “Certificateholder”), in all respects
as if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Certificate Registrar and all Certificateholders
present and future.

 

6.          The
Purchaser will not sell or otherwise transfer any portion of the Certificate or Certificates, except in compliance with Section
5.03 of the Pooling and Servicing Agreement.

 

7.          Check
one of the following:**

 

		☐	The
                                         Purchaser is a U.S. Tax Person (as defined below) and it has attached hereto an Internal
                                         Revenue Service (“IRS”) Form W-9 (or successor form).

 

		☐	The
                                         Purchaser is not a U.S. Tax Person and under applicable law in effect on the date hereof,
                                         no taxes will be required to be withheld by the Certificate Registrar (or its agent)
                                         with respect to distributions to be made on the Certificate. The Purchaser has attached
                                         hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form,
                                         as applicable), which identifies such Purchaser as the beneficial owner of the Certificate
                                         and states that such Purchaser is not a U.S. Tax Person, (ii) IRS Form W-8IMY (with all
                                         appropriate attachments) or (iii)]*** two duly executed copies of IRS Form
                                         W-8ECI (or successor form), which identify such Purchaser as the beneficial owner of
                                         the Certificate and state that interest and original issue discount on the Certificate
                                         and Permitted Investments is, or is expected to be, effectively connected with a U.S.
                                         trade or business. The Purchaser agrees to provide to the Certificate Registrar updated
                                         [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY or]*** IRS Form W-8ECI, [as the
                                         case may be,]*** any applicable successor IRS forms, or such other certifications as
                                         the Certificate Registrar may reasonably request, on or before the date that any such
                                         IRS form or certification expires or becomes obsolete, or promptly after the occurrence
                                         of any event requiring a change in the most recent IRS form of certification furnished
                                         by it to the Certificate Registrar.

 

For
purposes of this paragraph 7, “U.S. Tax Person” means a citizen or resident of the United States, a corporation
or partnership (except to the extent provided in applicable Treasury Regulations) or other entity 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, 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.

 

 

 

**
Each Purchaser must include one of the two alternative certifications.

 

*** Does not apply to a transfer of Class R
Certificates.

 

    	Exhibit C-3

    	 

    

  

Tax
Persons have the authority to control all substantial decisions of such trust (or, to the extent provided in applicable Treasury
Regulations, certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Tax Persons).

 

8.         Please
make all payments due on the Certificates:****

 

		☐	(a)	by
                                         wire transfer to the following account at a bank or entity in New York, New York, having
                                         appropriate facilities therefor:

 

Bank:_________________________________________________ 

ABA
#:_______________________________________________ 

Account
#:_____________________________________________ 

Attention:_____________________________________________

 

		☐	(b)	by
                                         mailing a check or draft to the following address:

 

______________________________________________________

______________________________________________________

______________________________________________________

 

9.         If
the Purchaser is purchasing a Class R Certificate, the Purchaser is not a partnership (including any entity treated as a partnership
for U.S. federal income tax purposes), any interest in which is owned, directly or indirectly, through one or more partnerships,
trusts or other pass-through entities by a non-U.S. Person. 

	 	 	 
	 	Very truly yours,
	 	 
	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	Dated:	 	 

 

 

 

****Only
to be filled out by Purchasers of Definitive Certificates. Please select (a) or (b). For holders of the Definitive Certificates,
wire transfers are only available if such holder’s Definitive Certificates have an aggregate Certificate Balance
or Notional Amount, as applicable, of at least U.S. $5,000,000.

 

    	Exhibit C-4

    	 

    

 

 

EXHIBIT
D-1

 

Form
of Transferee Affidavit

 

[Date]

 

Wells
Fargo Bank, National Association

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29 Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29 (the “Certificates”) issued pursuant to the Pooling
                                         and Servicing Agreement (the “Pooling and Servicing Agreement”), dated
                                         as of June 1, 2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp.,
                                         as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan
                                         Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo
                                         Bank, National Association, as Certificate Administrator, Wilmington Trust, National
                                         Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor

	 	 	 
	STATE OF	)	 
	 	)	ss.:
	COUNTY OF	)	 

 

I,
[______], under penalties of perjury, declare that, to the best of my knowledge and belief, the following representations are
true, correct and complete, and being first sworn, depose and say that:

 

1.            I
am a [______] of [______] (the “Purchaser”), on behalf of which I have the authority to make this affidavit.

 

2.            The
Purchaser is acquiring Class R Certificates representing [__]% of the residual interest in each of the real estate mortgage investment
conduits (each, a “REMIC”) designated as the (i) “Lower-Tier REMIC” and (ii) “Upper-Tier
REMIC”, respectively, relating to the Certificates for which an election is to be made under Section 860D of the Internal
Revenue Code of 1986 (the “Code”).

 

3.            The
Purchaser is not a “Disqualified Organization” (as defined below), and that the Purchaser is not acquiring
the Class R Certificates for the account of, or as agent or nominee of, or with a view to the transfer of direct or indirect record
or beneficial ownership thereof, to a Disqualified Organization. For the purposes hereof, a Disqualified Organization is any of
the following: (i) the United States, any State or political subdivision thereof, any possession of the United States or any agency
or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are
subject to tax and, except

 

    	Exhibit D-1-1

    	 

    

 

for
Freddie Mac, a majority of its board of directors is not selected by such governmental unit), (ii) a foreign government, any international
organization or any agency or instrumentality of any of the foregoing, (iii) any organization (other than certain farmers’
cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (including the
tax imposed by Section 511 of the Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1)
of the Code) with respect to the Class R Certificates (except certain farmers’ cooperatives described in Section 521 of
the Code), (iv) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, (v) an “electing
large partnership”, as defined in Section 775 of the Code and (vi) any other Person so designated by the Trustee or the
Certificate Administrator based upon an Opinion of Counsel as provided to the Trustee or the Certificate Administrator (at no
expense to the Trustee or the Certificate Administrator) that the holding of an Ownership Interest in a Class R Certificate by
such Person may cause any Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding or any Person
having an Ownership Interest in any Class of Certificates (other than such Person) to incur a liability for any federal tax imposed
under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R Certificate to such
Person. The terms “United States,” “State” and “international organization” shall have the
meanings set forth in Section 7701 of the Code or successor provisions.

 

4.            The
Purchaser acknowledges that Section 860E(e) of the Code would impose a substantial tax on the transferor or, in certain circumstances,
on an agent for the transferee, with respect to any transfer of any interest in any Class R Certificates to a Disqualified Organization.

 

5.            The
Purchaser is a Permitted Transferee and, to the extent applicable, the Purchaser’s U.S. taxpayer identification number is
[__________].

 

6.            No
purpose of the acquisition of the Class R Certificates is to impede the assessment or collection of tax.

 

7.            The
Purchaser will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed
base, within the meaning of an applicable income tax treaty, of the Purchaser or any other person.

 

8.            Check
the applicable paragraph:

 

☐           The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:

 

(i)           the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;

 

(ii)          the
present value of the expected future distributions on such Class R Certificate; and

 

(iii)         the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.

 

    	Exhibit D-1-2

    	 

    

 

For
purposes of this calculation, (i) the Purchaser is assumed to pay tax at the highest rate currently specified in Section 11(b)
of the Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section
11(b) of the Code if the Purchaser has been subject to the alternative minimum tax under Section 55 of the Code in the preceding
two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present
values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the
month of the transfer and the compounding period used by the Purchaser.

 

☐           The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly,

 

(i)           the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
income from the Class R Certificate will only be taxed in the United States;

 

(ii)          at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

(iii)         the
Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in Treasury Regulations
Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Sections 1.860E-1(c)(4)(i), (ii) and (iii) and
Treasury Regulations Section 1.860E-1(c)(5); and

 

(iv)         the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐           None
of the above.

 

9.            The
Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class R Certificates as they become due.

 

10.          The
Purchaser understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flows generated
by such Certificate.

 

11.          The
Purchaser is aware that the Certificate Registrar will not register any transfer of a Class R Certificate by the Transferor unless
the Purchaser, or such Purchaser’s agent, delivers to the Certificate Registrar, among other things, an affidavit and agreement
in substantially the same form as this affidavit and agreement. The Purchaser expressly agrees that it will not consummate any
such transfer if it knows or believes that any representation contained in such affidavit and agreement is false.

 

    	Exhibit D-1-3

    	 

    

  

12.           The
Purchaser represents that it is not acquiring the Class R Certificate as a nominee, trustee or agent for any person that is not
a Permitted Transferee and that for so long as it retains its interest in the Class R Certificate, it will endeavor to remain
a Permitted Transferee.

 

13.           The
Purchaser consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Class R Certificate will only be owned, directly or indirectly, by a Permitted Transferee.

 

14.           The
Purchaser has reviewed the provisions of Section 5.03 of the Pooling and Servicing Agreement, a description of which provisions
is set forth in the Class R Certificates; and the Purchaser expressly agrees to be bound by and to comply with such provisions.

 

15.           The
Purchaser consents to the designation of the Certificate Administrator as the agent of the “tax matters person” of
each Trust REMIC pursuant to Section 10.01 of the Pooling and Servicing Agreement.

 

Capitalized
terms used but not defined herein have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

IN
WITNESS WHEREOF, the Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized officer this
___day of _________, 20__.

	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit D-1-4

    	 

    

 

On
this ____ day of _______20__, before me, the undersigned, a Notary Public in and for the State of _______________, duly commissioned
and sworn, personally appeared ______________________ and ________________________, known or proved to me to be the same persons
who executed the foregoing instrument and to be _____________________________ and ___________________________, respectively, of
the Purchaser, and acknowledged to me that they executed the same as their respective free acts and deeds and as the free act
and deed of the Purchaser. 

	 	 	 
	 	 	NOTARY PUBLIC in and for the
	 	 	State of ____________
	 	 	 
	[SEAL]	 	 
	 	 	 
	My Commission expires:	 
	 	 	 

 

    	Exhibit D-1-5

    	 

    

 

 

EXHIBIT
D-2

 

FORM
OF TRANSFEROR LETTER

 

[Date]

 

Wells
Fargo Bank, National Association

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29 (the “Certificates”)

 

Ladies
and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by [______] (the “Transferor”) to [______] (the
“Transferee”) of Class R Certificates evidencing a [__]% Percentage Interest in such Class (the “Residual
Certificates”). The Certificates, including the Residual Certificates, were issued pursuant to the Pooling and Servicing
Agreement, dated as of June 1, 2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase
Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services,
a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator,
Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor. All capitalized terms
used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. The
Transferor hereby certifies, represents and warrants to you, as Certificate Registrar, that:

 

(1)          No
purpose of the Transferor relating to the transfer of the Residual Certificates by the Transferor to the Transferee is or will
be to impede the assessment or collection of any tax.

 

(2)          The
Transferor understands that the Transferee has delivered to you a Transferee Affidavit and Agreement in the form attached to the
Pooling and Servicing Agreement as Exhibit D-1. The Transferor does not know or believe that any representation contained
therein is false.

 

(3)          The
Transferor has at the time of this transfer conducted a reasonable investigation of the financial condition of the Transferee
as contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Transferor has determined
that the Transferee has historically paid its debts as they became due and has found no significant evidence to indicate that
the Transferee will not continue to pay its debts as they become due in the future. The Transferor understands that the transfer
of the Residual Certificates may not be respected for United States income tax purposes (and the Transferor may continue to be
liable

 

    	Exhibit D-2-1

    	 

    

  

for
United States income taxes associated therewith) unless the Transferor has conducted such an investigation. 

	 	 	 
	 	Very truly yours,
	 	 	 
	 	 	(Transferor)
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit D-2-2

    	 

    

 

 

EXHIBIT
E

 

FORM
OF REQUEST FOR RELEASE

(for Custodian) 

 

	Loan Information
	 
	 	Name of Mortgagor:	 	 
	 	 	 	 
	 	[Master Servicer]	 	 
	 	[Special Servicer] 

    Loan No.:	 	 
	 	 	 	 
	Custodian
	 
	 	Name:	 	Wells Fargo Bank, National Association
	 	 	 	 
	 	Address:	 	1055 10th Avenue SE

    Minneapolis, MN 55414

    Attention: Corporate Trust Services (CMBS)

    JPMBB Commercial Mortgage Securities Trust Series 2015-C29
	 	 	 	 
	 	Custodian/Trustee

    Mortgage File No.:	 	 
	 
	Depositor
	 
	 	Name:	 	J.P. Morgan Chase Commercial Mortgage Securities Corp.
	 	 	 	 
	 	Address:	 	383
        Madison Avenue, 31st Floor, New York, New York 10179, Attention: Kunal K. Singh

        

	 	 	 	 
	 	 	 	 
	 	Certificates:	 	JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial
    Mortgage Pass-Through Certificates, Series 2015-C29

 

The
undersigned [Master Servicer] [Special Servicer] hereby requests delivery from Wells Fargo Bank, National Association, as custodian
(the “Custodian”) on behalf of Wilmington Trust, National Association, as trustee (the “Trustee”),
for the Holders of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series
2015-C29, the documents referred to below (the “Documents”). All capitalized terms not otherwise defined in
this Request for Release shall have the meanings given them in the Pooling and Servicing Agreement dated as of June 1, 2015, by
and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank,

 

    	Exhibit E-1

    	 

    

 

National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells
Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha
Surveillance LLC, as Senior Trust Advisor (the “Pooling and Servicing Agreement”).

 

		(  )	___________________________

 

		(  )	___________________________

 

		(  )	___________________________

 

		(  )	___________________________

 

The
undersigned [Master Servicer] [Special Servicer] hereby acknowledges and agrees as follows:

 

(1)          The
[Master Servicer] [Special Servicer] shall hold and retain possession of the Documents in trust for the benefit of the Trustee,
solely for the purposes provided in the Pooling and Servicing Agreement.

 

(2)          The
[Master Servicer] [Special Servicer] shall not cause or permit the Documents to become subject to, or encumbered by, any claims,
liens, security interests, charges, writs of attachment or other impositions nor shall the [Master Servicer] [Special Servicer]
assert or seek to assert any claims or rights of set-off to or against the Documents or any proceeds thereof except as otherwise
provided in the Pooling and Servicing Agreement.

 

(3)          The
[Master Servicer] [Special Servicer] shall return the Documents to the Custodian when the need therefor no longer exists, unless
the Mortgage Loans have been liquidated or the Mortgage Loans have been paid in full and the proceeds thereof have been remitted
to the Certificate Account except as expressly provided in the Pooling and Servicing Agreement.

 

(4)          The
Documents and any proceeds thereof, including proceeds of proceeds, coming into the possession or control of the [Master Servicer]
[Special Servicer] shall at all times be earmarked for the account of the Trustee, and the [Master Servicer] [Special Servicer]
shall keep the Documents separate and distinct from all other property in the [Master Servicer’s] [Special Servicer’s]
possession, custody or control. 

	 	 	 
	 	[____________]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Date: _________	 	 

 

    	Exhibit E-2

    	 

    

 

EXHIBIT
F-1

 

FORM
OF ERISA REPRESENTATION

LETTER REGARDING ERISA RESTRICTED CERTIFICATES

 

Wells
Fargo Bank, National Association 

as Certificate
Administrator

Sixth Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Kunal K. Singh

 

		Re:	Transfer
                                         of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through
                                         Certificates, Series 2015-C29

 

Ladies
and Gentlemen:

 

The
undersigned (the “Purchaser”) proposes to purchase US$[___] initial Certificate Balance in the JPMBB Commercial
Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Class [E][F][NR] Certificates
issued pursuant to that certain Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing
Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells
Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha
Surveillance LLC, as Senior Trust Advisor. Capitalized terms used and not otherwise defined herein have the respective meanings
ascribed to such terms in the Pooling and Servicing Agreement.

 

In
connection with such transfer, the undersigned hereby represents and warrants to you as follows:

 

1.          The
Purchaser is not and will not become (a) an employee benefit plan subject to the fiduciary responsibility provisions of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Internal Revenue Code
of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA), a church plan
(as defined in Section 3(33) of ERISA) for which no election has been made under Section 410(d) of the Code, or any other plan
subject to any federal, state or local law (“Similar Law”) which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (each a “Plan”) or (b) a person acting on behalf of or using the assets of
any such Plan (including an entity whose underlying assets include Plan assets by reason of investment in the entity by such a

 

    	Exhibit F-1-1

    	 

    

 

Plan
or Plans and the application of Department of Labor Regulation § 2510.3-101, as modified by Section 3(42) of ERISA), other
than an insurance company using the assets of its “insurance company general account” (as such term is defined in
Section V(e) of Prohibited Transaction Class Exemption (“PTCE”) 95-60) under circumstances whereby the purchase
and holding of Certificates by such insurance company would be exempt from the prohibited transaction provisions of ERISA and
the Code under Sections I and III of PTCE 95-60 (or a Plan subject to Similar Law purchasing under circumstances that would not
constitute or result in a non-exempt violation of applicable Similar Law).

 

2.          The
Purchaser understands that if the Purchaser is a Person referred to in 1(a) or (b) above, such Purchaser is required to provide
to the Trustee and Certificate Administrator an Opinion of Counsel in form and substance satisfactory to the Trustee and Certificate
Administrator and the Depositor to the effect that the acquisition or holding of such Certificate by such purchaser or transferee
will not constitute or result in a “prohibited transaction” within the meaning of ERISA, Section 4975 of the Code
or any Similar Law, and will not subject the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer,
the Initial Purchasers, the Senior Trust Advisor or the Depositor to any obligation or liability (including obligations or liabilities
under ERISA, Section 4975 of the Code or any such Similar Law) in addition to those set forth in the Pooling and Servicing Agreement,
which Opinion of Counsel shall not be at the expense of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator, the Senior Trust Advisor, the Initial Purchasers or the Trust Fund.

 

IN
WITNESS WHEREOF, the Purchaser hereby executes this ERISA Representation Letter on the ___ day of _____________, 20__. 

	 	 	 
	 	Very truly yours,
	 	 
	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

Date:
__________

 

    	Exhibit F-1-2

    	 

    

  

EXHIBIT
F-2

 

Form
of ERISA Representation Letter

regarding CLASS R

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Administrator 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

  

[Transferor] 

[______] 

[______] 

Attention:
[______]

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29

 

Ladies
and Gentlemen:

 

The
undersigned (the “Purchaser”) proposes to purchase [__]% Percentage Interest in the JPMBB Commercial Mortgage
Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Class R Certificates (the “Class
R Certificate”) issued pursuant to that certain Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as
Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association,
as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor. Capitalized terms used and not otherwise defined herein have
the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

In
connection with such transfer, the undersigned hereby represents and warrants to you that, with respect to the Class R Certificate,
the Purchaser is not and will not become an employee benefit plan or other plan subject to the fiduciary responsibility provisions
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal
Revenue Code of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA)
or other plan that is subject to any federal, state or local law that is, to a material extent, similar to the foregoing provisions
of ERISA or the Code (“Similar Law”) (each, a “Plan”), or any person acting on behalf of
any such Plan or using the assets of a Plan to purchase such Class R Certificate.

 

    	Exhibit F-2-1

    	 

    

  

IN
WITNESS WHEREOF, the Purchaser hereby executes this ERISA Representation Letter on the ___ day of _____, 20__.

	 	 	 
	 	Very truly yours,
	 	 	 
	 	[The
    Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit F-2-2

    	 

    

 

EXHIBIT
G

 

FORM
OF STATEMENT TO CERTIFICATEHOLDERS

See Annex B to the Prospectus Supplement

 

    	Exhibit G-1

    	 

    

 

EXHIBIT
H

FORM OF OMNIBUS ASSIGNMENT

 

[NAME
OF CURRENT ASSIGNOR] having an address at [ADDRESS OF CURRENT ASSIGNOR] (the “Assignor”) for good and valuable
consideration, the receipt and sufficiency of which are acknowledged, hereby sells, transfers, assigns, delivers, sets over and
conveys, without recourse, representation or warranty, express or implied, unto “Wilmington Trust, National Association,
as Trustee for the registered holders of JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through
Certificates, Series 2015-C29” (the “Assignee”), having an office at 1100 North Market Street, Wilmington,
Delaware 19890, Attn: Trust Administration – JP-C29, its successors and assigns, all right, title and interest of the Assignor
in and to:

 

That
certain mortgage and security agreement, deed of trust and security agreement, deed to secure debt and security agreement, or
similar security instrument (the “Security Instrument”), and that certain Promissory Note (the “Mortgage
Note”), for each of the Mortgage Loans shown on the Mortgage Loan Schedule attached hereto as Exhibit B, and
that certain assignment of leases and rents given in connection therewith and all of the Assignor’s right, title and interest
in any claims, collateral, insurance policies, certificates of deposit, letters of credit, escrow accounts, performance bonds,
demands, causes of action and any other collateral arising out of and/or executed and/or delivered in or to or with respect to
the Security Instrument and the Mortgage Note, together with any other documents or instruments executed and/or delivered in connection
with or otherwise related to the Security Instrument and the Mortgage Note.

 

IN
WITNESS WHEREOF, the Assignor has executed this instrument under seal to be effective as of the [__] day of [_____________], 20[__].

	 	 	 
	 	[NAME OF CURRENT ASSIGNOR]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit H-1

    	 

    

 

EXHIBIT
I

 

Form
of Transfer Certificate

for Rule 144A Book-Entry Certificate

to Temporary Regulation S Book-Entry Certificate

during Restricted Period

 

(Exchanges
or transfers pursuant to

Section 5.03(c) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Book-Entry Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear] [Clearstream]*
(Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and
in accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

 

 

		*	Select
                                         appropriate depository.

 

    	Exhibit I-1

    	 

    

  

(1)           the
offer of the Certificates was not made to a person in the United States;

 

[(2)          at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States;]**

 

[(2)          the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)           no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)           the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Senior Trust Advisor, the Master Servicer, the Special Servicer and the Initial Purchasers. 

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

 

 

 

		**	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.

 

    	Exhibit I-2

    	 

    

 

EXHIBIT
J

 

Form
of Transfer Certificate

for Rule 144A Book-Entry Certificate

to Regulation S Book-Entry Certificate
after Restricted Period

 

(Exchange
or transfers pursuant to

Section 5.03(d) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through
                                         Certificates, Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Book-Entry Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in
accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States,

 

    	Exhibit J-1

    	 

    

  

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States,]*

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)          no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Senior Trust Advisor, the Master Servicer, the Special Servicer and the Initial Purchasers. 

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

 

 

 

		*	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.

 

    	Exhibit J-2

    	 

    

  

EXHIBIT
K

 

Form
of Transfer Certificate

for Temporary Regulation S Book-Entry Certificate

to Rule 144A Book-Entry Certificate during
Restricted Period

 

(Exchange
or transfers pursuant to

Section 5.03(e) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No.
[______] and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository in the
name of [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer
of such beneficial interest for a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are
being exchanged or transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933,
as amended (the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the
Certificates for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion,
and the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of

 

 

 

		*	Select
                                         appropriate depository.

 

    	Exhibit K-1

    	 

    

 

Rule
144A and in accordance with any applicable securities laws of any state of the United States or other applicable jurisdiction.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Senior Trust Advisor, the Master Servicer, the Special Servicer and the Initial Purchasers. 

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

 

    	Exhibit K-2

    	 

    

  

EXHIBIT
L

 

Form
of Transfer Certificate

for Temporary Regulation S Book-Entry Certificate

to Regulation S Book-Entry Certificate
after Restricted Period

 

(Exchanges
pursuant to

Section 5.03(f) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

[For
purposes of acquiring a beneficial interest in a Regulation S Book-Entry Certificate of the Class specified above after the expiration
of the Restricted Period,] [For purposes of receiving payments under a Temporary Regulation S Book-Entry Certificate of the Class
specified above,]* the undersigned holder of a beneficial interest in a Temporary Regulation S Book-Entry Certificate
of the Class specified above issued under the Pooling and Servicing Agreement certifies that it is not a U.S. Person as defined
by Regulation S under the Securities Act of 1933, as amended.

 

We
undertake to advise you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification
relating to the Certificates of the Class specified above held by you for our account if any applicable statement herein is not
correct on such date, and in the absence of any such notification it may be assumed that this certification applies as of such
date.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are

 

 

 

		*	Select,
                                         as applicable.

  

    	Exhibit L-1

    	 

    

  

commenced
or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this
certificate to any interested party in such proceeding. This certificate and the statements contained herein are made for your
benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Senior Trust Advisor and the Initial Purchasers. 

	 	 	 
	 	Dated:______________
	 	 	 
	 	By:	 
	 	 	as, or as agent for, the holder of a beneficial interest in the
    Certificates to which this certificate relates.

 

    	Exhibit L-2

    	 

    

 

EXHIBIT
M

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Temporary Regulation S
Book-Entry Certificate

 

(Exchanges
or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No. [______] and ISIN No. [______])
to be held with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository.

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and
in accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States;

 

 

 

		*	Select
                                         appropriate depository.

  

    	Exhibit M-1

    	 

    

 

[(2)          at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States;]**

 

[(2)          the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;] **

 

(3)          no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator, the Senior Trust Advisor and the Initial Purchasers. 

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

  

 

 

		**	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.

 

    	Exhibit M-2

    	 

    

  

EXHIBIT
N

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Regulation S Book-Entry Certificate

 

(Exchange
or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Regulation S Book-Entry Certificate (CINS No. [______], ISIN No. [______], and Common Code No.
[______]).

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in
accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States,

 

    	Exhibit N-1

    	 

    

 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States,]*

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)          no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator, the Senior Trust Advisor and the Initial Purchasers.

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

 

 

 

		*	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.

 

    	Exhibit N-2

    	 

    

  

EXHIBIT
O

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Rule 144A Book-Entry Certificate

 

(Exchange
or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor. Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such beneficial interest for a
beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are
being exchanged or transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933,
as amended (the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the
Certificates for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion,
and the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are

 

    	Exhibit O-1

    	 

    

  

commenced
or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this
certificate to any interested party in such proceeding. This certificate and the statements contained herein are made for your
benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Senior Trust Advisor and the Initial Purchasers.

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated: _________	 	 
	 	 	 
	cc: J.P. Morgan Chase Commercial Mortgage Securities Corp.	 	 

 

    	Exhibit O-2

    	 

    

 

EXHIBIT
P-1

 

FORM
OF INVESTOR CERTIFICATION

 

[Date]

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29, Class Certificates

 

In
accordance with the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as
Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC,
as Senior Trust Advisor, with respect to the certificates (the “Certificates”), the undersigned hereby certifies
and agrees as follows:

 

1.
The undersigned is a Certificateholder, the Directing Certificateholder (to the extent such person is not a Certificateholder),
a beneficial owner or prospective purchaser of the Class [__] Certificates or a Companion Holder (or any investment advisor or
manager or other representative of the foregoing).

 

2.        In
the case that the undersigned is a Certificateholder, the Directing Certificateholder (to the extent such person is not a Certificateholder),
a beneficial owner or prospective purchaser of an Offered Certificate, the undersigned has received a copy of the Prospectus.

 

3.        The
undersigned is not a Mortgagor, a manager of a Mortgaged Property, an Affiliate of any of the foregoing or an agent, principal,
partner, member, joint venturer, limited partner, employee, representative, director, trustee, advisor of or investor in or of
any of the foregoing or a mezzanine lender who has commenced foreclosure proceedings.

 

4.        The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s website and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement. In consideration
of the disclosure to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior

 

    	Exhibit P-1-1

    	 

    

 

written
consent of the Trustee or the Certificate Administrator, be otherwise disclosed by the undersigned or by its officers, directors,
partners, employees, agents or representatives (collectively, the “Representatives”) in any manner whatsoever,
in whole or in part; provided, however, that the obligations of the undersigned to keep any such information confidential
shall expire one year following the date that the undersigned receives such information (with respect to a prospective purchaser
only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates referenced
above. The undersigned will not use or disclose the Information in any manner which could result in a violation of any provision
of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as
amended, or would require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.        The
undersigned shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Senior Trust Advisor
and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any
of its Representatives. In the event that the undersigned can no longer truthfully certify to each clause within this certification,
and specifically to Paragraph 3 above, the undersigned shall immediately notify the Certificate Administrator that it is no longer
a “Privileged Person” under the Pooling and Servicing Agreement, and shall discontinue accessing the Certificate Administrator’s
Website, except with respect to information publicly available.

 

6.        The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the
Certificate Administrator’s Website.

 

7.        Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

  

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be
signed hereto by its duly authorized signatory, as of the date certified.

 

    	Exhibit P-1-2

    	 

    

 

 

EXHIBIT
P-2

 

FORM
OF CERTIFICATION FOR NRSROs

 

[Date]

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

 

		Attention:	Corporate
                                         Trust Services (CMBS), JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial
                                         Mortgage Pass Through Certificates, Series 2015-C29

 

In
accordance with the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of
June 1, 2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage
Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division
of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator,
Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor, with respect to the
certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

		1.	The
                                         undersigned is a Rating Agency hired by the Depositor to provide ratings on the Certificates;
                                         or

 

		2.	The
                                         undersigned, a Nationally Recognized Statistical Rating Organization (“NRSRO”);
                                         

 

a.                  
has provided the Depositor with the appropriate certifications under Exchange Act 17g-5(e); 

 

b.                  
has access to the Depositor’s 17g-5 website; and

 

c.                  
agrees that any confidentiality agreement applicable to the undersigned with respect to information obtained from the Depositor’s
17g-5 website shall also be applicable to information obtained from the 17g-5 Information Provider’s Website.

 

The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website and the 17g-5 Information Provider’s Website.

 

Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

 

    	Exhibit P-2-1

    	 

    

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be
signed hereto by its duly authorized signatory, as of the date certified. 

 

    	Exhibit P-2-2

    	 

    

 

EXHIBIT
P-3

 

ONLINE
MARKET DATA PROVIDER CERTIFICATION

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

 

		Attention:	Corporate
                                         Trust Services (CMBS), JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial
                                         Mortgage Pass Through Certificates, Series 2015-C29

 

This
Certification has been prepared for provision of information to the market data providers listed in Paragraph 1 below pursuant
to the direction of the Depositor. If you represent a Market Data Provider not listed herein and would like access to the information,
please contact CTSLink at 866-846-4526, or at ctslink.customerservice@wellsfargo.com.

 

In
accordance with the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of
June 1, 2015 (the “Pooling and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage
Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division
of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator,
Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor, with respect to the
above-referenced certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

		1.	The
                                         undersigned is an employee or agent of Bloomberg L.P., Intex Solutions, Inc., Trepp,
                                         LLC, BlackRock Financial Management Inc., Interactive Data Corporation, CMBS.com, Inc.,
                                         Markit or Thompson Reuters, a market data provider that has been given access to the
                                         Statements to Certificateholders, CREFC® Reports and supplemental notices
                                         on www.ctslink.com (“CTSLink”) by request of the Depositor.

 

		2.	The
                                         undersigned agrees that each time it accesses CTSLink, the undersigned is deemed to have
                                         recertified that the representation above remains true and correct.

 

		3.	The
                                         undersigned acknowledges and agrees that the provision to it of information and/or reports
                                         on CTSLink is for its own use only, and agrees that it will not disseminate or otherwise
                                         make such information available to any other person without the written consent of the
                                         Depositor.

 

		4.	The
                                         undersigned shall be fully liable for any breach of this agreement by itself or any of
                                         its Representatives and shall indemnify the Depositor, the Trustee, the Certificate Administrator,
                                         the Master Servicer, the Special Servicer, the Senior Trust Advisor and the Trust Fund
                                         for any loss, liability or expense incurred thereby with respect to any such breach by
                                         the undersigned or any of its Representatives.

 

    	Exhibit P-3-1

    	 

    

 

		5.	Capitalized
                                         terms used but not defined herein shall have the respective meanings assigned thereto
                                         in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be
signed hereto by its duly authorized signatory, as of the date certified.

 

    	Exhibit P-3-2

    	 

    

 

EXHIBIT
Q

CUSTODIAN CERTIFICATION/EXCEPTION REPORT

 

[DATE]

 

To the
Persons Listed on the attached Schedule A

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29

 

Ladies
and Gentlemen:

 

In
accordance with Section 2.02 of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo
Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee,
and Pentalpha Surveillance LLC, as Senior Trust Advisor, the undersigned, as Custodian, hereby certifies that, except as noted
on the attached Custodial Exception Report, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage
Loan paid in full or for which a Liquidation Event has occurred) the Custodian has, subject to Section 2.02(e) of the Pooling
and Servicing Agreement, reviewed the documents delivered to it pursuant to Section 2.01 of the Pooling and Servicing Agreement
and has determined that (i) all documents specified in clauses (i) through (v), (ix) through (xiii), (xv) and (xvi) (or, with
respect to clause (xvi), a copy of such letter of credit and the required officer’s certificate), if any, of the definition
of “Mortgage File,” as applicable, with respect to the Mortgage Loans are in its possession, (ii) the foregoing documents
delivered or caused to be delivered by the Mortgage Loan Seller have been reviewed by it or by a Custodian on its behalf and appear
regular on their face and appear to be executed and to relate to such Mortgage Loan and (iii) based on such examination and only
as to the foregoing documents, the information set forth in the Mortgage Loan Schedule with respect to the items specified in
clauses (iv), (vi) and (viii)(c) in the definition of “Mortgage Loan Schedule” is correct.

 

Capitalized
words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing
Agreement. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, as Custodian
	 	 	 
	 	By:  	
	 	 	Name:
	 	 	Title:

 

    	Exhibit Q-1

    	 

    

  

SCHEDULE
A

 

JPMorgan
Chase Bank, National Association

270 Park Avenue

New York, New York 10017-2070

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue

31st Floor

New York, New York 10179

 

Fitch
Ratings Inc.

1 State Street Plaza

New York, New York 10004

Telecopy Number: (212) 480-4435

 

Morningstar
Credit Ratings, LLC

220 Gibraltar Road, Suite 300

Horsham, Pennsylvania 19044

Attention: CMBS Surveillance

Email: cmbsratings@morningstar.com

  

Moody’s
Investors Service, Inc. 

7
World Trade Center

250 Greenwich Street

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

E-mail: CMBSSurveillance@moodys.com

 

Wells
Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: JPMBB 2015-C29 Asset Manager

Telecopy Number: (704) 715-0036

 

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

10851 Mastin Street

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

JPMBB 2015-C29

Telecopy Number:  (913) 253-9001

 

    	Exhibit Q-2

    	 

    

 

Wilmington
Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: JPMBB 2015-C29

Telecopy number: (302) 630-4140

Email: CMBSTrustee@wilmingtontrust.com

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29

Telecopy Number: (410) 715 2380

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

 

    	Exhibit Q-3

    	 

    

 

 

EXHIBIT
R-1

 

FORM
OF POWER OF ATTORNEY BY TRUSTEE

FOR MASTER SERVICER

 

RECORDING
REQUESTED BY:

 

Wells
Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: JPMBB 2015-C28 Asset Manager

Telecopy Number: (704) 715-0036 

	 

SPACE
ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED
POWER OF ATTORNEY

 

KNOW
ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association, incorporated and existing
under the laws of the United States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890
as Trustee (the “Trustee”) pursuant to that Pooling and Servicing Agreement dated as of June 1, 2015 (the
“Agreement”) by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as Trustee, Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the
“Certificate Administrator”), and Pentalpha Surveillance LLC, as senior trust advisor (the “Senior
Trust Advisor”), and the Trustee hereby constitutes and appoints the Master Servicer, by and through the Master Servicer’s
officers, the Trustee’s true and lawful Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s
benefit, in connection with all mortgage loans (the “Mortgage Loans”) serviced by the Master Servicer and all
properties (“Mortgaged Properties”) administered by the Master Servicer pursuant to the Agreement, to execute
and acknowledge in writing or by facsimile stamp all documents customarily and reasonably necessary and appropriate to effectuate
the enumerated transactions described in items 1 through 12 below with respect to the Mortgage Loans and Mortgaged Properties;
provided, however, that the documents described below may only be executed and delivered by such Attorneys-in-Fact if such documents
are required or permitted under the Agreement. Capitalized terms used herein and not otherwise defined herein have the meanings
set forth in the Agreement.

 

1.                 
The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee
and draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.

 

    	Exhibit R-1-1

    	 

    

 

2.                  
The modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the purpose
of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct title
errors discovered after such title insurance was issued; provided that (i) said modification or re-recording, in either instance,
does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of
the Agreement.

 

3.                  
The subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government
agency or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.

 

4.                  
The conveyance of the properties to the mortgage insurer, or the closing of the title to the property to be acquired as real estate
owned, or conveyance of title to real estate owned.

 

5.                  
The completion of loan assumption agreements.

 

6.                  
The full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured
thereby, including, without limitation, cancellation of the related Mortgage Note.

 

7.                  
The assignment of any Mortgage or deed of trust and the related Mortgage Note, in connection with the repurchase of the mortgage
loan secured and evidenced thereby.

 

8.                  
The full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with
the refinancing thereof, including, without limitation, the assignment of the related Mortgage Note.

 

9.                  
The full enforcement of and preservation of the Trustee’s interests in the Mortgage Notes, Mortgages or deeds of trust,
and in the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed in lieu of foreclosure,
or the completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any such foreclosure,
the initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination, cancellation
or rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and claims in
bankruptcy proceedings, including, without limitation, any and all of the following acts:

 

		a.	the
                                         substitution of trustee(s) serving under a deed of trust, in accordance with state law
                                         and the deed of trust;

 

		b.	the
                                         preparation and issuance of statements of breach or non-performance;

 

		c.	the
                                         preparation and filing of notices of default and/or notices of sale;

 

		d.	the
                                         cancellation/rescission of notices of default and/or notices of sale;

 

    	Exhibit R-1-2

    	 

    

 

		e.	the
                                         taking of deed in lieu of foreclosure; 

 

		f.	the
                                         filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in
                                         bankruptcy cases affecting Mortgage Notes, Mortgages or deeds of trust; 

 

		g.	the
                                         preparation and service of notices to quit and all other documents necessary to initiate,
                                         prosecute and complete eviction actions or proceedings;

 

		h.	the
                                         tendering, filing, prosecution and defense, as applicable, of hazard insurance and title
                                         insurance claims, including but not limited to appearing on behalf of the Trustee in
                                         quiet title actions; and

 

		i.	the
                                         preparation and execution of such other documents and performance of such other actions
                                         as may be necessary under the terms of the Mortgage, deed of trust or state law to expeditiously
                                         complete said transactions in paragraphs 9.a. through 9.h. above.

 

10.               
With respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation,
the execution of the following documentation:

 

		a.	listing
                                         agreements;

 

		b.	purchase
                                         and sale agreements;

 

		c.	grant/warranty/quit
                                         claim deeds or any other deed causing the transfer of title of the property to a party
                                         contracted to purchase same;

 

		d.	escrow
                                         instructions; and

 

		e.	any
                                         and all documents necessary to effect the transfer of property.

 

11.               
The modification or amendment of escrow agreements established for repairs to the Mortgaged Property or reserves for replacement
of personal property.

 

12.               
The execution and delivery of the following:

 

		a.	any
                                         and all financing statements, continuation statements and other documents or instruments
                                         necessary to maintain the lien created by the Mortgage, deed of trust or other security
                                         document in the related Mortgage File or the related Mortgaged Property and other related
                                         collateral;

 

		b.	any
                                         and all instruments of satisfaction or cancellation, or of partial or full release or
                                         discharge, or of partial or full defeasance, and all other comparable instruments; and

 

		c.	any
                                         and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents
                                         to transfers of interests in borrowers, consents to any subordinate financings to be
                                         secured by any related Mortgaged Property, consents to any mezzanine financing to be
                                         secured by the ownership interests in a borrower, consents to and monitoring of the application
                                         of any proceeds of insurance policies or

 

    	Exhibit R-13

    	 

    

 

			condemnation
                                         awards to the restoration of the related Mortgaged Property or otherwise, documents relating
                                         to the management, operation, maintenance, repair, leasing and marketing of the related
                                         Mortgaged Properties (including agreements and requests by any borrower with respect
                                         to modifications of the standards of operation and management of such Mortgaged Properties
                                         or the replacement of asset managers), documents exercising any or all of the rights,
                                         powers and privileges granted or provided to the holder of any Mortgage Loan under the
                                         related loan documents, lease subordination agreements, non-disturbance and attornment
                                         agreements or other leasing or rental arrangements, any easements, covenants, conditions,
                                         restrictions, equitable servitudes, or land use or zoning requirements with respect to
                                         the Mortgaged Properties, instruments relating to the custody of any collateral that
                                         now secures or hereafter may secure any Mortgage Loan and any other consents.

 

The
undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every
act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney
as fully as the undersigned might or could do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective
as of the date set forth below.

 

This
appointment is to be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts
or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

Solely
to the extent that the Master Servicer has the power to delegate its rights or obligations under the Agreement, the Master Servicer
also has the power to delegate the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited
Power of Attorney, for purposes of performing its obligations and duties by executing such additional powers of attorney in favor
of its attorneys-in-fact as are necessary for such purpose. The Master Servicer’s attorneys-in-fact shall have no greater
authority than that held by the Master Servicer.

 

Nothing
contained herein shall: (i) limit in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in
any manner the rights and protections afforded the Trustee under the Agreement, or (iii) be construed to grant the Master Servicer
the power to initiate or defend any suit, litigation or proceeding in the name of Wilmington Trust, National Association except
as specifically provided for herein. If the Master Servicer receives any notice of suit, litigation or proceeding in the name
of Wilmington Trust, National Association, then the Master Servicer shall promptly forward a copy of same to the Trustee.

 

This
limited power of attorney is not intended to extend the powers granted to the Master Servicer under the Agreement or to allow
the Master Servicer to take any action with respect to Mortgages, deeds of trust or Mortgage Notes not authorized by the Agreement.

 

The
Master Servicer hereby agrees to indemnify and hold the Trustee and its directors, officers, employees and agents harmless from
and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or

 

    	Exhibit R-14

    	 

    

 

disbursements
of any kind or nature whatsoever incurred by reason or result of the negligent use, or negligent or willful misuse, of this Limited
Power of Attorney by the Master Servicer. The foregoing indemnity shall survive the termination of this Limited Power of Attorney
and the Agreement or the earlier resignation or removal of the Trustee under the Agreement.

 

This
Limited Power of Attorney is entered into and shall be governed by the laws of the State of New York, without regard to conflicts
of law principles of such state.

 

Third
parties without actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney; and may be
satisfied that this Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument
of revocation has been made in writing by the undersigned.

 

IN
WITNESS WHEREOF, Wilmington Trust, National Association, as Trustee for JPMBB Commercial Mortgage Securities Trust 2015-C29 has
caused its corporate seal to be hereto affixed and these presents to be signed and acknowledged in its name and behalf by a duly
elected and authorized signatory this ___________ day of ____________. 

	 	 	 
	 	Wilmington
    Trust, National Association, as Trustee for JPMBB Commercial Mortgage Securities Trust 2015-C29
	 	 	 
	 	By:  	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Prepared by:
	 	 	 
	 	 	Name:

  

	Witness:	 
	 	 
	 	 
	Witness:	 
	 	 

 

    	Exhibit R-1-5

    	 

    

 

	STATE OF	)	 
	 	)	ss.:
	COUNTY OF	)	 

  

On
________________________, before me, _________________________________ Notary Public, personally appeared ___________________________,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument
the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I
certify under PENALTY OF PERJURY under the laws of the State of ___________ that the foregoing paragraph is true and correct.

 

Witness
my hand and official seal.

 

	 	Notary
    Public
	[SEAL]	 
	 	 
	My commission expires:	 
	 	 

 

    	Exhibit R-1-6

    	 

    

 

EXHIBIT
R-2

 

FORM
OF POWER OF ATTORNEY BY TRUSTEE

FOR SPECIAL SERVICER

 

RECORDING
REQUESTED BY:

 

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

10851 Mastin Street

Overland Park, Kansas 66210

Attention:  Executive Vice President – Division Head 

JPMBB
2015-C29 

Telecopy
Number:  (913) 253-9001

	 

SPACE
ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED
POWER OF ATTORNEY

 

KNOW
ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association, incorporated and existing
under the laws of the United States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890,
as Trustee (the “Trustee”) pursuant to that Pooling and Servicing Agreement dated as of June 1, 2015 (the
“Agreement”) by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as the Depositor, Wells Fargo
Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), Midland Loan Services,
a Division of PNC Bank, National Association, as special servicer (the “Special Servicer”), Wilmington Trust,
National Association, as Trustee, Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the
“Certificate Administrator”), and Pentalpha Surveillance LLC, as senior trust advisor (the “Senior
Trust Advisor”), and the Trustee hereby constitutes and appoints the Special Servicer, by and through the Special Servicer’s
officers and authorized employees, the Trustee’s true and lawful Attorney-in-Fact, in the Trustee’s name, place and
stead and for the Trustee’s benefit, in connection with all mortgage loans (the “Mortgage Loans”) serviced
by the Special Servicer and all properties (“REO Properties”) administered by the Special Servicer pursuant
to the Agreement, to execute and acknowledge in writing or by facsimile stamp all documents customarily and reasonably necessary
and appropriate to effectuate the enumerated transactions described in items (1) through (13) below with respect to the Mortgage
Loans and REO Properties; provided however, that the documents described below may only be executed and delivered by such Attorneys-in-Fact
if such documents are required or permitted under the terms of the Agreement. Capitalized terms used herein and not otherwise
defined herein have the meanings set forth in the Agreement.

 

		1.	The
                                         endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments
                                         made payable to the Trustee and to draw upon, replace, substitute, release or amend letters
                                         of credit standing as collateral securing any Mortgage Loan.

 

    	Exhibit R-2-1

    	 

    

 

		2.	The
                                         modification or re-recording of a Mortgage or deed of trust, where said modification
                                         or re-recording is solely for the purpose of correcting such Mortgage or deed of trust
                                         to conform same to the original intent of the parties thereto or to correct title errors
                                         discovered after such title insurance was issued; provided that said modification or
                                         re-recording, in either instance, (i) does not adversely affect the lien of the Mortgage
                                         or deed of trust as insured and (ii) otherwise conforms to the provisions of the Agreement.

 

		3.	The
                                         subordination of the lien of a Mortgage or deed of trust to an easement in favor of a
                                         public utility company or a government agency or unit with powers of eminent domain;
                                         this section shall include, without limitation, the execution of partial satisfactions/releases,
                                         partial reconveyances or the execution or requests to trustees to accomplish same.

 

		4.	The
                                         conveyance of any property to the mortgage insurer, or the closing of title to any mortgaged
                                         property (a “Mortgaged Property”) to be acquired as REO Property,
                                         or conveyance of title to any REO Property.

 

		5.	The
                                         completion of loan assumption agreements and transfers of interest in borrower entities.

 

		6.	The
                                         full satisfaction/release of a Mortgage or full conveyance upon payment and discharge
                                         of all sums secured thereby, including, without limitation, cancellation of the related
                                         promissory note.

 

		7.	The
                                         assignment of any Mortgage and the related promissory note and other loan documents,
                                         in connection with the purchase or repurchase of the Mortgage Loan secured and evidenced
                                         thereby.

 

		8.	The
                                         full assignment of a Mortgage upon payment and discharge of all sums secured thereby
                                         in conjunction with the refinancing thereof, including, without limitation, the assignment
                                         of the related promissory note and other loan documents.

 

		9.	The
                                         full enforcement of and preservation of the Trustee’s interests in any Mortgage
                                         or the related promissory note, and in the proceeds thereof, by way of, including but
                                         not limited to, taking title to any Mortgaged Property on behalf of the Trust, foreclosure,
                                         the taking of a deed-in-lieu of foreclosure, or the completion of judicial or non-judicial
                                         foreclosure and/or any related litigation, including without limitation, guaranty or
                                         receivership litigation, or litigation on the note, or the termination, cancellation
                                         or rescission of any such foreclosure, the initiation, prosecution and completion of
                                         eviction actions or proceedings with respect to, or the termination, cancellation or
                                         rescission of any such eviction actions or proceedings, the initiation or defense of
                                         any litigation related to the ownership of any REO Property, and the pursuit of title
                                         insurance, hazard insurance and claims in bankruptcy proceedings, including, without
                                         limitation, any and all of the following acts:

 

		a.	the
                                         substitution of trustee(s) serving under a deed of trust, in accordance with state law
                                         and such deed of trust;

 

    	Exhibit R-2-2

    	 

    

 

		b.	the
                                         preparation and issuance of statements of breach or non-performance;

 

		c.	the
                                         preparation and filing of notices of default and/or notices of sale;

 

		d.	the
                                         cancellation/rescission of notices of default and/or notices of sale;

 

		e.	the
                                         filing, prosecution and defense of claims, and the appearance on behalf of the Trustee,
                                         in bankruptcy cases affecting any Mortgage or the related promissory note; 

 

		f.	the
                                         preparation and service of notices to quit and all other documents necessary to initiate,
                                         prosecute and complete eviction actions or proceedings;

 

		g.	the
                                         tendering, filing, prosecution and defense, as applicable, of hazard insurance and title
                                         insurance claims, including but not limited to appearing on behalf of the Trustee in
                                         quiet title actions; 

 

		h.	the
                                         creation of a wholly-owned entity of the Trust for purposes of holding foreclosed property;
                                         and

 

		i.	the
                                         preparation and execution of such other documents and the performance of such other actions
                                         as may be necessary under the terms of the Mortgage or state law to expeditiously complete
                                         said transactions in paragraphs 9.a. through 9.h. above.

 

		10.	With
                                         respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure,
                                         including, without limitation, the execution of the following documentation:

 

		a.	listing
                                         agreements;

 

		b.	purchase
                                         and sale agreements;

 

		c.	grant/warranty/quit
                                         claim deeds or any other deed causing the transfer of title of the property to a party
                                         contracted to purchase same;

 

		d.	escrow
                                         instructions; and

 

		e.	any
                                         and all documents necessary to effect the transfer of property.

 

		11.	The
                                         modification or amendment of escrow agreements established for repairs to the Mortgaged
                                         Property or reserves for replacement of personal property.

 

		12.	Execute
                                         and/or file such documents and take such other action as is proper and necessary to defend
                                         the Trustee, solely in its capacity as Trustee, in litigation and to resolve such litigation,
                                         provided that such resolution shall not include any admission of fault or wrongdoing
                                         by the Trustee or, without the Trustee’s consent, subject the Trustee to any form
                                         of injunctive relief.

 

    	Exhibit R-2-3

    	 

    

 

		13.	The
                                         execution and delivery of the following:

 

		a.	any
                                         and all financing statements, continuation statements and other documents or instruments
                                         necessary to maintain the lien created by the Mortgage or other security document in
                                         the related Mortgage File or the related Mortgaged Property and other related collateral;

 

		b.	any
                                         and all instruments of satisfaction or cancellation, or of partial or full release or
                                         discharge, or of partial or full defeasance, and all other comparable instruments; 

 

		c.	any
                                         and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents
                                         to transfers of interests in borrowers, consents to any subordinate financings to be
                                         secured by any related Mortgaged Property, consents to any mezzanine financing to be
                                         secured by the ownership interests in a borrower, consents to and monitoring of the application
                                         of any proceeds of insurance policies or condemnation awards to the restoration of the
                                         related Mortgaged Property, REO Property or otherwise, documents relating to the management,
                                         operation, maintenance, repair, leasing and marketing of the related Mortgaged Properties
                                         (including agreements and requests by any borrower with respect to modifications of the
                                         standards of operation and management of such Mortgaged Properties or the replacement
                                         of asset managers) or REO Properties, documents exercising any or all of the rights,
                                         powers and privileges granted or provided to the holder of any Mortgage Loan under the
                                         related loan documents, lease subordination agreements, non-disturbance and attornment
                                         agreements or other leasing or rental arrangements, management agreements, any easements,
                                         covenants, conditions, restrictions, equitable servitudes, or land use or zoning requirements
                                         with respect to the Mortgaged Properties or REO Properties, instruments relating to the
                                         custody of any collateral that now secures or hereafter may secure any Mortgage Loan
                                         and any other consents; and

 

		d.	any
                                         and all documents, instruments and certifications as are reasonably necessary to complete
                                         or accomplish the Special Servicer’s duties and responsibilities under the Agreement.

 

The
undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every
act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney
as fully as the undersigned might or could do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective
as of the date set forth below.

 

This
appointment is to be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts
or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

Solely
to the extent that the Special Servicer has the power to delegate its rights or obligations under the Agreement, the Special Servicer
also has the power to delegate the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited

 

    	Exhibit R-2-4

    	 

    

 

Power
of Attorney, for purposes of performing its obligations and duties by executing such additional powers of attorney in favor of
its attorneys-in-fact as are necessary for such purpose. The Special Servicer’s attorneys-in-fact shall have no greater
authority than that held by the Special Servicer.

 

Nothing
contained herein shall: (i) limit in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in
any manner the rights and protections afforded the Trustee under the Agreement, or (iii) be construed to grant the Special Servicer
the power to initiate or defend any suit, litigation or proceeding in the name of Wilmington Trust, National Association except
as specifically provided for herein or in the Agreement. If the Special Servicer receives any notice of suit, litigation or proceeding
in the name of Wilmington Trust, National Association (solely in its capacity as Trustee), then the Special Servicer shall promptly
forward a copy of same to the Trustee.

 

This
limited power of attorney is not intended to extend or limit the powers granted to the Special Servicer under the Agreement or
to allow the Special Servicer to take any action with respect to Mortgages, deeds of trust or the related promissory notes not
authorized by the Agreement.

 

The
Special Servicer hereby agrees to indemnify and hold the Trustee and its directors, officers, employees and agents harmless from
and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements
of any kind or nature whatsoever incurred by the Trustee by reason or result of the negligent use, or negligent or willful misuse,
of this Limited Power of Attorney by the Special Servicer. The foregoing indemnity shall survive the termination of this Limited
Power of Attorney and the Agreement or the earlier resignation or removal of the Trustee under the Agreement.

 

This
Limited Power of Attorney is entered into and shall be governed by the laws of the State of New York, without regard to conflicts
of law principles of such state.

 

Third
parties without actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney; and may be
satisfied that this Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument
of revocation has been made in writing by the undersigned.

 

IN
WITNESS WHEREOF, Wilmington Trust, National Association, as Trustee for JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial
Mortgage Pass-Through Certificates, Series 2015-C29, has caused its corporate seal to be hereto affixed and these presents to
be signed and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________ day of ____________. 

	 	 	 
	 	Wilmington
    Trust, National Association, as Trustee for JPMBB Commercial Mortgage Securities Trust 2015-C29

 

    	Exhibit R-2-5

    	 

    

 

	 	 	 
	 	By:  	 
	 	 	Name:
	 	 	Title:

  

	Address:	Wilmington Trust, National Association
	 	1100 North Market Street
	 	Wilmington, Delaware 19890

  

	Witness:	 
	 	 

 

    	Exhibit R-2-6

    	 

    

  

State
of Delaware}

County
of }

On
________________________, before me, _________________________________Notary Public, personally appeared ___________________________,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument
the person, or the entity upon behalf of which the person acted, executed the instrument.

  

I certify
under PENALTY OF PERJURY under the laws of the State of Delaware that the foregoing paragraph is true and correct.

  

Witness
my hand and official seal.

	 	 

   

Notary
signature

 

    	Exhibit R-2-7

    	 

    

 

EXHIBIT
S

 

INITIAL
COMPANION HOLDERS

 

	Loan	Companion
    Holder
	One
    City Centre	 

	NOTE
 A-2

         

        JPMorgan
        Chase Bank, National Association

         

        NOTICE
        ADDRESS

         

        JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Joseph E. Geoghan

        Facsimile No.: (212) 272-7047

         

        -and-

        

        JPMorgan Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Nancy Alto

        Facsimile No.: (212) 623-4779

         

        with
        a copy to:

        

        Cadwalader, Wickersham & Taft LLP

        200
        Liberty Street

        New
        York, NY 10281

        Attention:
        Lisa Pauquette

        Facsimile No.: (212) 504-6666

         

	JAGR
    Portfolio	 

	NOTE
 A-2

         

        JPMorgan
        Chase Bank, National Association

         

        NOTICE
        ADDRESS

         

        JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Joseph E. Geoghan

        Facsimile No.: (212) 272-7047

        

 

    	Exhibit S-1

    	 

    

 

	 	 

        -and-

        

        JPMorgan Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Nancy Alto

        Facsimile No.: (212) 623-4779

         

        with
        a copy to:

        

        Cadwalader, Wickersham & Taft LLP

        200
        Liberty Street

        New
        York, NY 10281

        Attention:
        Lisa Pauquette

        Facsimile No.: (212) 504-6666

         

	Horizon
    Outlet Shoppes Portfolio	 

	NOTE
 A-1

         

        Wells
        Fargo Bank, National Association for the Holders of JPMBB Commercial Mortgage Trust 2015-C28, Commercial Mortgage Pass
        Through Certificates, Series 2015-C28

         

        NOTICE
        ADDRESS

         

        Wells Fargo
        Bank, National Association

        9062 Old
        Annapolis Road

        Columbia,
        Maryland 21045-1951

        Attention:
        Corporate Trust Services (CMBS)

        JPMBB Commercial
        Mortgage Securities Trust Series 2015-C28

        Telecopy
        Number: (410) 715-2380

        E-Mail:
        cts.cmbs.bond.admin@wellsfargo.com

        
	Marriott
    – Pittsburgh	 

	NOTE
 A-2

         

        JPMorgan
        Chase Bank, National Association

         

        NOTICE
        ADDRESS

         

        JPMorgan
        Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Joseph E. Geoghan

        Facsimile No.: (212) 272-7047

        

 

    	Exhibit S-2

    	 

    

 

	 	 

        -and-

        

        JPMorgan Chase Bank, National Association

        383 Madison Avenue

        New York, New York 10179

        Attention: Nancy Alto

        Facsimile No.: (212) 623-4779

         

        with
        a copy to:

        

        Cadwalader, Wickersham & Taft LLP

        200
        Liberty Street

        New
        York, NY 10281

        Attention:
        Lisa Pauquette

        Facsimile No.: (212) 504-6666

         

 

    	Exhibit S-3

    	 

    

 

EXHIBIT
T

 

FORM
OF NOTICE RELATING TO THE NON-SERVICED MORTGAGE LOAN

 

[Date]

 

Wells
Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: JPMBB 2015-C29 Asset Manager

Telecopy Number: (704) 715-0036

 

VIA
FACSIMILE

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29

 

Dear
[__________]:

 

Wells
Fargo Bank, National Association, is the master servicer (the “Non-Serviced Master Servicer”) for the Horizon
Outlet Shoppes Portfolio Whole Loan, as such term is defined under the Pooling and Servicing Agreement, dated June 1, 2015
(the “2015-C29 Pooling Agreement”) by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Horizon Outlet Shoppes
Portfolio Master Servicer”), Midland Loan Services, a Division of PNC Bank, National Association, as special servicer,
Wilmington Trust, National Association, as trustee (the “Trustee”), Wells Fargo Bank, National Association,
as certificate administrator (in such capacity, the “Certificate Administrator”), and Pentalpha Surveillance
LLC, as senior trust advisor. The Certificate Administrator hereby directs the Non-Serviced Master Servicer, as follows:

 

The
Non-Serviced Master Servicer shall remit to the Horizon Outlet Shoppes Portfolio Master Servicer all amounts payable to, and forward,
deliver or otherwise make available, as the case may be, to the Horizon Outlet Shoppes Portfolio Master Servicer all reports,
statements, documents, communications, and other information that are to be forwarded, delivered or otherwise made available to,
the holder of the Horizon Outlet Shoppes Portfolio Mortgage Loan (as such term is defined in the 2015-C29 Pooling Agreement) under
the Horizon Outlet Shoppes Portfolio Intercreditor Agreement (as defined in the 2015-C29 Pooling Agreement).

 

Thank
you for your attention to this matter.

 

    	Exhibit T-1

    	 

    

 

Date:_________________________

	 	 	 	 
	 	Wells
                    Fargo Bank, National Association, as Certificate Administrator for the Holders of the JPMBB Commercial Mortgage
                    Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29

	 	 	 
	 	By:
	 	 
	 	 	[Name]	 
	 	 	[Title]

 

    	Exhibit T-2

    	 

    

 

EXHIBIT
U

 

FORM
OF NOTICE AND CERTIFICATION

REGARDING DEFEASANCE OF MORTGAGE LOAN

 

		To:	Moody’s
                                         Investors Service, Inc.

                                         7 World Trade Center

                                         250 Greenwich Street

                                         New York, New York 10007

                                         Attention: Commercial Mortgage
                                         Surveillance Group

                                         E-mail: CMBSSurveillance@moodys.com

 

			Morningstar
                                         Credit Ratings, LLC

                                         220 Gibraltar Road, Suite 300

                                         Horsham, Pennsylvania 19044

                                         Attention: CMBS Surveillance

                                         Email: cmbsratings@morningstar.com

 

			Fitch Ratings
                                         Inc.

                                         1 State Street Plaza

                                         New York, New York 10004

                                         Telecopy Number: (212) 480-4435

 

		From:	Wells
                                         Fargo Bank, National Association, in its capacity as Master Servicer under the Pooling
                                         and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing
                                         Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities
                                         Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland
                                         Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington
                                         Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate
                                         Administrator, and Pentalpha Surveillance LLC, as Senior Trust Advisor.

 

		Date:	_________,
                                         20___

 

		Re:	JPMBB
                                         Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates,
                                         Series 2015-C29

                                         

                                         Mortgage Loan (the “Mortgage
                                         Loan”) identified by loan number _____ on the Mortgage Loan Schedule attached
                                         to the Pooling and Servicing Agreement and heretofore secured by the Mortgaged Properties
                                         identified on the Mortgage Loan Schedule by the following names:____________________

                                                ____________________

 

    	Exhibit U-1

    	 

    

 

Reference
is made to the Pooling and Servicing Agreement described above. Capitalized terms used but not defined herein have the meanings
assigned to such terms in the Pooling and Servicing Agreement.

 

As
Servicer under the Pooling and Servicing Agreement, we hereby:

 

(a)    
Notify you that the Mortgagor has consummated a defeasance of the Mortgage Loan pursuant to the terms of the Mortgage Loan, of
the type checked below:

 

____a
full defeasance of the entire principal balance of the Mortgage Loan; or

 

____a
partial defeasance of a portion of the principal balance of the Mortgage Loan that represents and, an allocated loan amount of
$____________ or _______% of the entire principal balance of the Mortgage Loan;

 

(b)    Certify
that each of the following is true, subject to those exceptions set forth with explanatory notes on Exhibit A hereto, which
exceptions the Master Servicer has determined, consistent with the Servicing Standards, will have no material adverse effect on
the Mortgage Loan or the defeasance transaction:

 

(i)           
The Mortgage Loan documents permit the defeasance, and the terms and conditions for defeasance specified therein were satisfied
in all material respects in completing the defeasance.

 

(ii)          
The defeasance was consummated on __________, 20__.

 

(iii)         The
defeasance collateral consists of securities that (i) constitute “government securities” as defined in Section 2(a)(16)
of the Investment Company Act of 1940 as amended (15 U.S.C. 80A1), (ii) are listed as “Qualified Investments for ‘AAA’
Financings” under Paragraphs 1, 2 or 3 of “Cash Flow Approach” in Standard & Poor’s Public Finance
Criteria 2000, as amended to the date of the defeasance, (iii) if they include a principal obligation, the principal due at maturity
cannot vary or change, and (iv) are not subject to prepayment, call or early redemption.

 

(iv)         The
Master Servicer received an opinion of counsel (from counsel approved by the Servicer in accordance with the Servicing Standard)
that the defeasance will not result in an Adverse REMIC Event.

 

(v)          
The Master Servicer determined that the defeasance collateral will be owned by an entity (the “Defeasance Obligor”)
that is a Single-Purpose Entity (as defined in Standard & Poor’s Structured Finance Ratings Real Estate Finance Criteria,
as amended to the date of the defeasance (the “S&P Criteria”)) or is subject to restrictions in its organizational
documents substantially similar to those contained in the organization documents of the original Borrower with respect to bankruptcy
remoteness and single purpose as of the date of the defeasance, and after the defeasance owns no assets other than the defeasance
collateral and real property securing Mortgage Loans included in the pool.

 

    	Exhibit U-2

    	 

    

 

(vi)          
The defeasance documents require the crediting of the defeasance collateral to an Eligible Account (as defined in the S&P
Criteria) in the name of the Trustee on behalf of the Trust, which account is maintained as a securities account by a securities
intermediary and has been pledged to the Trustee on behalf of the Trust.

 

(vii)         
The agreements executed in connection with the defeasance (i) grant control of the pledged securities account to Trustee on behalf
of the Trust, (ii) require the securities intermediary to make the scheduled payments on the Mortgage Loan from the proceeds of
the defeasance collateral directly to the Master Servicer’s collection account in the amounts and on the dates specified
in the Mortgage Loan documents or, in a partial defeasance, the portion of such scheduled payments attributed to the allocated
loan amount for the real property defeased, increased by any defeasance premium specified in the Mortgage Loan documents (the
“Scheduled Payments”), (iii) permit reinvestment of proceeds of the defeasance collateral only in Permitted
Investments (as defined in the Pooling and Servicing Agreement or as defined in the documents evidencing the defeasance), (iv)
permit release of surplus defeasance collateral and earnings on reinvestment from the pledged securities account only after the
Mortgage Loan has been paid in full, if any such release is permitted, (v) prohibit transfers by the Defeasance Obligor of the
defeasance collateral and subordinate liens against the defeasance collateral, and (vi) provide for payment from sources other
than the defeasance collateral or other assets of the Defeasance Obligor of all fees and expenses of the securities intermediary
for administering the defeasance and the securities account and all fees and expenses of maintaining the existence of the Defeasance
Obligor.

 

(viii)        
The Master Servicer received written confirmation from a firm of independent certified public accountants, who were approved by
the Master Servicer in accordance with the Servicing Standard stating that (i) revenues from the defeasance collateral (without
taking into account any earnings on reinvestment of such revenues) will be sufficient to timely pay each of the Scheduled Payments
after the defeasance including the payment in full of the Mortgage Loan (or the allocated portion thereof in connection with a
partial defeasance) on its Maturity Date (or, in the case of an ARD Loan, on its Anticipated Repayment Date), (ii) the revenues
received in any month from the defeasance collateral will be applied to make Scheduled Payments within four (4) months after the
date of receipt, and (iii) interest income from the defeasance collateral to the Defeasance Obligor in any calendar or fiscal
year will not exceed such Defeasance Obligor’s interest expense for the Mortgage Loan (or the allocated portion thereof
in a partial defeasance) for such year.

 

(ix)           
The Mortgage Loan is not among the ten (10) largest loans in the pool as of the date of the Current Report (as defined below).
The entire principal balance of the Mortgage Loan as of the date of defeasance was less than both $[______] and five percent of
pool balance, which is less than [__]% of the aggregate Certificate Balance of the Certificates as of the date of the most recent
Statement to Certificateholders received by us (the “Current Report”).

 

(x)            
The Master Servicer has received opinions of counsel stating that the Trustee on behalf of the Trust possesses a valid, perfected
first priority security interest in

 

    	Exhibit U-3

    	 

    

 

the
defeasance collateral and that the documents executed in connection with the defeasance are enforceable in accordance with their
respective terms.

 

(c)      Certify
that Exhibit B hereto is a list of the material agreements, instruments, organizational documents for the Defeasance Obligor,
and opinions of counsel and independent accountants executed and delivered in connection with the defeasance.

 

(d)       Certify
that the individual under whose hand the Master Servicer has caused this Notice and Certification to be executed did constitute
a Servicing Officer as of the date of the defeasance described above.

 

(e)      Agree
to provide copies of all items listed in Exhibit B to you upon request.

 

    	Exhibit U-4

    	 

    

 

IN
WITNESS WHEREOF, the Master Servicer has caused this Notice and Certification to be executed as of the date captioned above.

	 	 	 
	 	[____________]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit U-5

    	 

    

 

EXHIBIT
V

 

FORM
OF SENIOR TRUST ADVISOR ANNUAL REPORT1

 

Report
Date: After the occurrence and during the continuance of a Control Event, this report will be delivered annually no later
than [INSERT DATE], pursuant to the terms and conditions of the Pooling and Servicing Agreement.

Transaction: J.P. Morgan Chase Commercial Mortgage Securities
Corp., Commercial Mortgage Pass-Through Certificates, Series 2015-C29

Senior Trust Advisor: Pentalpha Surveillance LLC

Special Servicer: Midland Loan Services, a Division of PNC Bank,
National Association

Directing Certificateholder: BlackRock Realty Advisors, Inc.

 

		I.	Population
                                         of Mortgage Loans that Were Considered in Compiling this Report

 

		1.	The
                                         Special Servicer has notified the Senior Trust Advisor that [·] Specially Serviced
                                         Mortgage Loans were transferred to special servicing in the prior calendar year [INSERT
                                         YEAR].

 

		a.	[·]
                                         of those Specially Serviced Mortgage Loans are still being analyzed by the Special Servicer
                                         as part of the development of an Asset Status Report.

 

		b.	Asset
                                         Status Reports were issued with respect to [·] of such Specially Serviced Mortgage
                                         Loans. This report is based only on the Specially Serviced Mortgage Loans in respect
                                         of which an Asset Status Report has been issued. The Asset Status Reports may not yet
                                         be fully implemented.

 

		II.	Executive
                                         Summary

 

Based
on the requirements and qualifications set forth in the Pooling and Servicing Agreement, as well as the items listed below, the
Senior Trust Advisor (in accordance with the Senior Trust Advisor’s analysis requirements outlined in the Pooling and Servicing
Agreement) has undertaken a limited review of the Special Servicer’s operational activities to service certain Specially
Serviced Mortgage Loans in accordance with the Servicing Standard. Based on such limited review, the Senior Trust Advisor [does,
does not] believe there are material violations of the Special Servicer’s compliance with its obligations under the Pooling
and Servicing Agreement. In addition, the Senior Trust Advisor notes the following: [PROVIDE SUMMARY OF ANY ADDITIONAL MATERIAL
INFORMATION].

 

 

 

1
This report is an indicative report and does not reflect the final form of annual report to be used in any particular year.
The Senior Trust Advisor will have the ability to modify or alter the organization and content of any particular report, subject
to the compliance with the terms of the Pooling and Servicing Agreement, including, without limitation, provisions relating to
Privileged Information.

 

    	Exhibit V-1

    	 

    

 

In
connection with the assessment set forth in this report, the Senior Trust Advisor:

 

		1.	Reviewed
                                         the Asset Status Reports, the Special Servicer’s assessment of compliance report,
                                         attestation report by a third party regarding the Special Servicer’s compliance
                                         with its obligations and net present value calculations and Appraisal Reduction calculations
                                         and [LIST OTHER REVIEWED INFORMATION] for the following [·] Specially Serviced Mortgage
                                         Loans: [List applicable Mortgage Loans]

 

		2.	Consulted
                                         with the Special Servicer as provided under the Pooling and Servicing Agreement. The
                                         Senior Trust Advisor’s analysis of the Asset Status Reports (including related
                                         net present value calculations and Appraisal Reduction calculations) related to the Specially
                                         Serviced Mortgage Loans should be considered a limited investigation and not be considered
                                         a full or limited audit. For instance, we did not review each page of the Special Servicer’s
                                         policy and procedure manuals (including amendments and appendices), re-engineer the quantitative
                                         aspects of their net present value calculator, visit any property, visit the Special
                                         Servicer, visit the Directing Certificateholder or interact with any borrower. In addition,
                                         our review of the net present value calculations and Appraisal Reduction calculations
                                         is limited to the mathematical accuracy of the calculations and the corresponding application
                                         of the non-discretionary portions of the applicable formulas, and as such, does not take
                                         into account the reasonableness of the discretionary portions of such formulas.

 

		III.	Specific
                                         Items of Review

 

		1.	The
                                         Senior Trust Advisor reviewed the following items in connection with the generation of
                                         this report: [LIST MATERIAL ITEMS].

 

		2.	During
                                         the prior year, the Senior Trust Advisor consulted with the Special Servicer regarding
                                         its strategy plan for a limited number of issues related to the following Specially Serviced
                                         Mortgage Loans: [LIST]. The Senior Trust Advisor participated in discussions and made
                                         strategic observations and recommended alternative courses of action to the extent it
                                         deemed such observations and recommendations appropriate. The Special Servicer [agreed
                                         with/did not agree with] the material recommendations made by the Senior Trust Advisor.
                                         Such recommendations generally included the following: [LIST].

 

		3.	Appraisal
                                         Reduction calculations and net present value calculations:

 

		4.	The
                                         Senior Trust Advisor [received/did not receive] information necessary to recalculate
                                         and verify the accuracy of the mathematical calculations and the corresponding application
                                         of the non-discretionary portions of the applicable formulas required to be utilized
                                         in connection with any Appraisal Reduction or net present value calculations used in
                                         the special servicer’s determination of what course of action to take in connection
                                         with the workout or liquidation of a Specially Serviced Mortgage Loan prior to the utilization
                                         by the Special Servicer.

 

    	Exhibit V-2

    	 

    

 

		a.	The
                                         Senior Trust Advisor [agrees/does not agree] with the [mathematical calculations] [and/or]
                                         [the application of the applicable non-discretionary portions of the formula] required
                                         to be utilized for such calculation.

 

		b.	After
                                         consultation with the special servicer to resolve any inaccuracy in the mathematical
                                         calculations or the application of the non-discretionary portions of the related formula
                                         in arriving at those mathematical calculations, such inaccuracy [has been/ has not been]
                                         resolved.

 

		5.	The
                                         following is a general discussion of certain concerns raised by the Senior Trust Advisor
                                         discussed in this report: [LIST CONCERNS].

 

		6.	In
                                         addition to the other information presented herein, the Senior Trust Advisor notes the
                                         following additional items, if any: [LIST ADDITIONAL ITEMS].

 

		IV.	Qualifications
                                         Related to the Work Product Undertaken and Opinions Related to this Report

 

		1.	The
                                         Senior Trust Advisor did not participate in, or have access to, the Special Servicer’s
                                         and Directing Certificateholder’s discussion(s) regarding any Specially Serviced
                                         Mortgage Loan. The Senior Trust Advisor does not have authority to speak with the Directing
                                         Certificateholder directly. As such, the Senior Trust Advisor generally relied upon the
                                         information delivered to it by the Special Servicer as well as its interaction with the
                                         Special Servicer, if any, in gathering the relevant information to generate this report.

 

		2.	The
                                         Special Servicer has the legal authority and responsibility to service the Specially
                                         Serviced Mortgage Loans pursuant to the Pooling and Servicing Agreement. The Senior Trust
                                         Advisor has no responsibility or authority to alter the standards set forth therein.

 

		3.	Confidentiality
                                         and other contractual limitations limit the Senior Trust Advisor’s ability to outline
                                         the details or substance of the discussions held between it and the Special Servicer
                                         regarding any Specially Serviced Mortgage Loans and certain information it reviewed in
                                         connection with its duties under the Pooling and Servicing Agreement. As a result, this
                                         report may not reflect all the relevant information that the Senior Trust Advisor is
                                         given access to by the Special Servicer.

 

		4.	There
                                         are many tasks that the Special Servicer undertakes on an on-going basis related to Specially
                                         Serviced Mortgage Loans. These include, but are not limited to, assumptions, ownership
                                         changes, collateral substitutions, capital reserve changes, etc. The Senior Trust Advisor
                                         does not participate in any discussions regarding such actions. As such, Senior Trust
                                         Advisor has not assessed the Special Servicer’s operational compliance with respect
                                         to those types of actions.

 

		5.	The
                                         Senior Trust Advisor is not empowered to speak with any investors directly. If the investors
                                         have questions regarding this report, they should address such questions to the Certificate
                                         Administrator through the Certificate Administrator’s website.

 

    	Exhibit V-3

    	 

    

 

Terms
used but not defined herein have the meaning set forth in the Pooling and Servicing Agreement dated June 1, 2015.

 

    	Exhibit V-4

    	 

    

 

EXHIBIT
W

 

Form
of Notice from Senior Trust Advisor Recommending Replacement of Special Servicer

 

Wilmington
Trust, National Association

  as Trustee

1100 North Market Street

Wilmington, Delaware 19890

Attention: JPMBB 2015-C29

Telecopy number: (302) 630-4140

 

Wells
Fargo Bank, National Association

  as Certificate Administrator 

9062
Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

JPMBB Commercial Mortgage Securities Trust Series 2015-C29 

Telecopy
Number: (410) 715-2380

 

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

10851 Mastin Street

Overland Park, Kansas 66210

Attention:  Executive Vice President – Division Head 

JPMBB
2015-C29 

Telecopy
Number:  (913) 253-9001

 

Re:        
JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29, Recommendation
of Replacement of Special Servicer

 

Ladies
and Gentlemen:

 

This
letter is delivered pursuant to Section 7.01(d) of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the
“Pooling and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National
Association, as Special Servicer, Wilmington Trust, National Association, as Trustee, Wells Fargo Bank, National Association,
as Certificate Administrator, and Pentalpha Surveillance LLC, as Senior Trust Advisor, on behalf of the holders of JPMBB Commercial
Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through Certificates, Series 2015-C29 (the “Certificates”)
regarding the replacement of the Special Servicer. Capitalized terms used and not otherwise defined herein shall have the respective
meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

    	Exhibit W-1

    	 

    

 

Based
upon our review of the Special Servicer’s operational practices conducted pursuant to and in accordance with Section 3.31
of the Pooling and Servicing Agreement, it is our assessment that Midland Loan Services, a Division of PNC Bank, National Association,
in its current capacity as Special Servicer, is not [performing its duties under the Pooling and Servicing Agreement][acting in
accordance with the Servicing Standard]. The following factors support our assessment: [________].

 

Based
upon such assessment, we further hereby recommend that Midland Loan Services, a Division of PNC Bank, National Association be
removed as Special Servicer and that [________] be appointed its successor in such capacity.

	 	 	 
	 	Very truly yours,
	 	 
	 	[The Senior
    Trust Advisor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 	 
	Dated:	 	 

 

    	Exhibit W-2

    	 

    

 

 

EXHIBIT
X

 

Form
of CONFIDENTIALITY Agreement

 

Wells
Fargo Bank, National Association 

Commercial
Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: JPMBB 2015-C29 Asset Manager

Telecopy Number: (704) 715-0036

 

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

10851 Mastin Street

Overland Park, Kansas 66210

Attention:  Executive Vice President – Division Head 

JPMBB
2015-C29 

Telecopy
Number:  (913) 253-9001

 

Re:        
Access to Certain Information Regarding JPMBB Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass-Through
Certificates, Series 2015-C29

 

Ladies
and Gentlemen:

 

Reference
is hereby made to that certain Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing
Agreement”), among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington
Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance
LLC, as Senior Trust Advisor. Defined terms used herein and not otherwise defined shall have the meanings set forth in the Pooling
and Servicing Agreement.

 

[Wells
Fargo Bank, National Association (“Wells Fargo”)/Midland Loan Services, a Division of PNC Bank, National Association
(“Midland”)] understands that [____] (the “Company”) is requesting certain confidential
or non-public information relating to the Mortgage Loans to which the Company has continuing rights as a Certificateholder. The
Company is requesting such information for the purpose of analyzing asset performance and evaluating any continuing rights the
Company may have under the Trust (the “Permitted Purpose”). The Company agrees that the Permitted Purpose shall
not include the use or disclosure of the Confidential Information (as defined below) in any manner that violates any applicable
law, the Pooling and Servicing Agreement or the related mortgage loan documents.

 

[Wells
Fargo/Midland] will provide the Company with certain confidential, non-public servicing information (the “Confidential
Information”) pertaining to the Mortgage Loans and the related Mortgaged Properties and borrowers. The Company acknowledges
that the Confidential

 

    	Exhibit X-1

    	 

    

 

[_____]
[__], 20[__]

Page 2

 

Information
(a) includes or may be based upon information provided to [Wells Fargo/Midland] by third parties, (b) may not have been
verified by [Wells Fargo/Midland], and (c) may be incomplete or contain inaccuracies. The Company agrees that [Wells Fargo/Midland],
the [“Master Servicer”/“Special Servicer”] (as defined in the Pooling and Servicing Agreement)
and their respective Representatives (as defined below) shall not have any liability to the Company or its Representatives resulting
from (x) any inaccuracies or omissions in the Confidential Information, (y) any use of the Confidential Information,
or (z) [Wells Fargo/Midland]’(s) failure or inability to provide the Confidential Information to the Company for any
reason. Notwithstanding the foregoing, the following will not constitute “Confidential Information” for purposes
of this letter agreement: (a) information that was already in Company’s possession prior to its receipt from [Wells
Fargo/Midland]; (b) information that is obtained by Company from a third person who, insofar as is known to Company, is not
prohibited from transmitting the information to Company by a contractual, legal or fiduciary obligation to [Wells Fargo/Midland];
(c) information that is or becomes publicly available through no fault of Company; and (d) information that is independently
developed by Company. The term “Representatives” with respect to any entity shall mean the officers, directors, general
partners, employees, agents, affiliates, auditors and legal counsel (which may be internal counsel) of that entity.

 

The
Company may have access to the Confidential Information through (at [Wells Fargo/Midland]’(s) election): (i) responses
to reasonable written inquiries received from the Company, (ii) conference calls conducted on a reasonably scheduled basis
with [Wells Fargo/Midland]’(s) surveillance group, or (iii) direct on-line access (read-only capacity) to the information
available on the applicable [____] system or any successor or replacement system (“System”). [Wells Fargo/Midland]
may cease or defer providing the Company with Confidential Information in the event that (a) the Company or its Representatives
violate any provision hereof, or (b) [Wells Fargo/Midland] determines (in its sole discretion) that such termination is necessary
for any reason, including its determination that such action is required pursuant to the terms of the Pooling and Servicing Agreement,
the related Mortgage Loan documents, or any applicable law. [Wells Fargo/Midland] shall cease to provide the Company with Confidential
Information if [Wells Fargo/Midland] has actual knowledge that the Company or its Representatives are affiliates of any borrower
under the Mortgage Loan documents and [Wells Fargo/Midland]determines that the provision, notice or access to such Confidential
Information would violate the accepted servicing practices or servicing standards as defined in the Pooling and Servicing Agreement.
The Company’s obligations and the restrictions applicable to the protection of the Confidential Information hereunder shall
survive the termination of the Company’s access to the Confidential Information. [Wells Fargo/Midland]’(s) remedies
hereunder, at law or at equity, are cumulative and may be combined.

 

The
Company agrees that it will not, and it shall not permit its Representatives, to disclose the Confidential Information in any
manner whatsoever to any other person or entity, other than its Representatives (but only to the extent necessary to accomplish
the Permitted Purpose) who have a need to know the information, or as otherwise required by applicable law, court order or any
governmental agency or regulator. The Company acknowledges (i) its obligations under the U.S. federal securities laws, and
(ii) that any disclosure of the Confidential Information by it or its Representatives for any purpose other than a Permitted
Purpose, in addition to being a breach of this letter agreement, may constitute a violation of federal and state securities laws.
The

 

    	Exhibit X-2

    	 

    

 

[_____]
[__], 20[__]

Page 3

 

Company
will take reasonable measures to ensure that each Representative is advised of this letter agreement and agrees to keep the Confidential
Information confidential. The Company shall be liable for any breach of this letter agreement by its Representatives. Notwithstanding
the foregoing, the Company may subsequently provide all or any part of such Confidential Information to any other person or entity
that holds or is contemplating the purchase of any Certificate or interest therein, but only if such person or entity confirms
such ownership interest or prospective ownership interest and provided that, prior to the delivery of such Confidential
Information, such persons shall have executed and delivered to the Company an agreement that is substantially similar in form
and substance to this Agreement.

 

This
letter agreement shall be governed by and construed in accordance with the laws of the State of New York without the application
of conflict of laws principles. Anything herein to the contrary notwithstanding, [Wells Fargo/Midland] intends at all times to
comply with the terms and provisions of the Pooling and Servicing Agreement and nothing in this letter agreement should be construed
to limit or qualify any of [Wells Fargo/Midland]’(s) rights or obligations under the Pooling and Servicing Agreement. This
letter agreement may be executed in counterparts and by facsimile/Portable Document Format (PDF); each such counterpart shall
be deemed to be an original instrument, and all such counterparts together shall constitute one agreement.

 

This
agreement shall terminate with respect to the information received by the Company one year after the Company receives such information
or ceases to be a Certificateholder. Company agrees that this letter agreement supersedes and replaces and survives any click-through
agreement regarding confidentiality of Confidential Information agreed to in connection with accessing the System whether agreed
to in accessing the System before or after signing this letter agreement.

 

    	Exhibit X-3

    	 

    

 

Please
have an authorized signatory countersign in the space provided below to indicate the Company’s confirmation of, and agreement
to, the matters set forth herein.

	 	 	 	 
	 	Very truly yours,
	 	 
	 	[WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]
	 	 	 
	 	[MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL
    ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]
	 	 	 
	CONFIRMED AND AGREED TO:	 	 
	 	 	 
	[COMPANY NAME]	 	 
	 	 	 
	By:	 	 	 
	 	Name:	 	 
	 	Title:	 	 

 

    	Exhibit X-4

    	 

    

 

EXHIBIT
Y

 

FORM
CERTIFICATION TO BE PROVIDED WITH FORM 10-K

 

CERTIFICATION

 

I,
[identifying the certifying individual], the President and Chief Executive Officer of J.P. Morgan Chase Commercial Mortgage Securities
Corp., the depositor into the above-referenced Trust, certify that:

 

1.          
I have reviewed this report on Form 10-K, and all reports on Form 10-D required to be filed in respect of the period covered by
this report on Form 10-K, of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2015-C29 (the “Exchange Act periodic
reports”);

 

2.          
Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

 

3.          
Based on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the
period covered by this report is included in the Exchange Act periodic reports;

 

4.          
Based on my knowledge and the servicer compliance statements required in this report under Item 1123 of Regulation AB, and except
as disclosed in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements
in all material respects; and

 

5.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation
reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report
in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this
report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been
disclosed in this report on Form 10-K.

 

In
giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties:

 

Wells
Fargo Bank, National Association, as Master Servicer and Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as Special Servicer, Wilmington Trust, National Association, as Trustee, Wells Fargo Bank, National Association,
as Custodian, Pentalpha Surveillance LLC, as Senior Trust Advisor, Wells Fargo Bank, National Association, as Master Servicer
and Certificate Administrator of the Horizon Outlet Shoppes Portfolio Mortgage Loan, Torchlight Loan Services, LLC, as Special
Servicer of the Horizon Outlet Shoppes Portfolio Mortgage Loan, Wilmington Trust, National

 

    	Exhibit Y-1

    	 

    

 

Association,
as Trustee of the Horizon Outlet Shoppes Portfolio Mortgage Loan, Wells Fargo Bank, National Association, as Custodian of the
Horizon Outlet Shoppes Portfolio Mortgage Loan and Pentalpha Surveillance LLC, as Senior Trust Advisor of the Horizon Outlet Shoppes
Portfolio Mortgage Loan.

 

Date:_________________________

 

	President
and Chief Executive Officer

J.P. Morgan Chase Commercial Mortgage Securities Corp.

(Senior officer in charge of the securitization of the depositor)

 

    	Exhibit Y-2

    	 

    

 

 

EXHIBIT
Z-1

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY CERTIFICATE ADMINISTRATOR

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:   JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or an officer under my supervision) have reviewed the annual report on Form 10-K for the period ended December 31, 20[__] (the
“Form 10-K”) and all reports on Form 10-D and Form 8-K filed in respect of the period covered by the Form 10-K
of the Trust (collectively, with the Form 10-K, the “Reports”);

 

2.          
Based on my knowledge, the Reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by the Form 10-K;

 

3.          
Based on my knowledge, all of the distribution and other information required to be provided by the Certificate Administrator
under the Pooling and Servicing Agreement for inclusion in the Reports for the period covered by the Form 10-K is included in
the Reports and all of the distribution, servicing and other information provided to the Certificate Administrator by the trustee,
the custodian, the master servicer, the special servicer and the senior trust advisor under the Pooling and Servicing Agreement
for inclusion in the Reports for the period covered by the Form 10-K is included in the Reports;

 

    	Exhibit Z-1-1

    	 

    

 

4.          
I (or an officer under my supervision) am responsible for reviewing the activities performed by the Certificate Administrator
under the Pooling and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Certificate
Administrator compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion
in the Form 10-K under Item 1123 of Regulation AB, and except as disclosed in the Reports, the Certificate Administrator has fulfilled
its obligations under the Pooling and Servicing Agreement in all material respects; and

 

5.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Certificate
Administrator or any Servicing Function Participant retained by the Certificate Administrator (the “Relevant Servicing
Criteria”) and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required
to be included in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been
included as an exhibit to the Form 10-K. Any material instances of noncompliance described in such reports have been disclosed
in the Form 10-K and such assessment of compliance is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Certificate Administrator responsible for reviewing the activities performed
by the Certificate Administrator under the Pooling and Servicing Agreement.

 

Dated:
____________________________ 

	 	 
	 	Name:
	 	Title:

 

    	Exhibit Z-1-2

    	 

    

 

Exhibit
Z-2

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY MASTER SERVICER

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:  JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the
Master Servicer in accordance with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the
period ended December 31, 20[__] (“Form 10-K”) and all information required to be provided by the Master Servicer
in accordance with the Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed
in respect of the period covered by the Form 10-K of the Trust (collectively, with the Form 10-K, the “Reports”)
(such information provided by the Master Servicer, collectively, the “Master Servicer Periodic Information”);

 

2.          
Based on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special
servicer backup certificate delivered by each Special Servicer relating to the relevant period, the Master Servicer Periodic Information,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by the Form 10-K;

 

    	Exhibit Z-2-1

    	 

    

 

3.          
Based on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special
servicer backup certificate delivered by each Special Servicer relating to the relevant period, all of servicing and other information
required to be provided by the Master Servicer under the Pooling and Servicing Agreement for inclusion in the Reports for the
period covered by the Form 10-K is included in the Master Servicer Periodic Information;

 

4.          
I (or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the Master Servicer under
the Pooling and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Master Servicer
compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion in the Form
10-K under Item 1123 of Regulation AB, and except as disclosed in the Master Servicer Periodic Information, the Master Servicer
has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects;

 

5.          
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Master Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Master Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Master Servicer
or any Servicing Function Participant retained by the Master Servicer (the “Relevant Servicing Criteria”) and
their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance is
fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Master Servicer responsible for reviewing the activities performed by
the Master Servicer under the Pooling and Servicing Agreement.

 

Dated:
____________________________

	 	 
	 	Name:
	 	Title:

 

    	Exhibit Z-2-2

    	 

    

Exhibit Z-3

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY SPECIAL SERVICER

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:   JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the
Special Servicer in accordance with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the
period ended December 31, 20[__] (“Form 10-K”) and all information required to be provided by the Special Servicer
in accordance with the Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed
in respect of the period covered by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”)
(such information provided by the Special Servicer, collectively, the “Special Servicer Periodic Information”);

 

2.          
Based on my knowledge, the Special Servicer Periodic Information, taken as a whole, does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by the Form 10-K;

 

3.          
Based on my knowledge, all servicing and other information required to be provided by the Special Servicer under the Pooling and
Servicing Agreement for inclusion in

 

    	Exhibit Z-3-1

    	 

    

 

the
Reports for the period covered by the Form 10-K is included in the Special Servicer Periodic Information;

 

4.          
I (or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the Special Servicer under
the Pooling and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Special Servicer’s
compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion in the Form
10-K under Item 1123 of Regulation AB, and except as disclosed in the Special Servicer Periodic Information, the Special Servicer
has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects;

 

5.          
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Special Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Special Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Special Servicer
or any Servicing Function Participant retained by the Special Servicer (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with
servicing criteria is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Special Servicer responsible for reviewing the activities performed by
the Special Servicer under the Pooling and Servicing Agreement.

 

Dated:
____________________________

	 	 
	 	Name:
	 	Title:

    	Exhibit Z-32

    	 

    

 

Exhibit
Z-4

 

Form
of Certification to be Provided

to Depositor by Trustee

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:  JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or officers under my supervision) have reviewed the information required to be provided by the Trustee in accordance with the
Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form
10-K”) and all information required to be provided by the Trustee in accordance with the Pooling and Servicing Agreement
for inclusion in the reports on Form 10-D and Form 8-K required to be filed in respect of the period covered by the Form 10-K
of the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by the Trustee, collectively,
the “Trustee Periodic Information”);

 

2.          
Based on my knowledge, the Trustee Periodic Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

3.          
Based on my knowledge, all information required to be provided by the Trustee under the Pooling and Servicing Agreement for inclusion
in the Reports for the period covered by the Form 10-K is included in the Trustee Periodic Information;

 

    	Exhibit Z-4-1

    	 

    

 

4.          
I (or officers under my supervision) am responsible for reviewing the activities performed by the Trustee under the Pooling and
Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Trustee’s compliance
statement to be delivered under Article XI of the Pooling and Servicing Agreement required for inclusion in the Form 10-K under
Item 1123 of Regulation AB, and except as disclosed in the Trustee Periodic Information, the Trustee has fulfilled its obligations
under the Pooling and Servicing Agreement in all material respects; and

 

5.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Trustee or
any Servicing Function Participant retained by the Trustee (the “Relevant Servicing Criteria”) and their related
attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling and Servicing
Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances of noncompliance
with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with servicing criteria
is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Trustee responsible for reviewing the activities performed by the Trustee
under the Pooling and Servicing Agreement.

 

Dated:
____________________________

	 	 
	 	Name:
	 	Title:

 

    	Exhibit Z-42

    	 

    

Exhibit
Z-5

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY SENIOR TRUST ADVISOR

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:  JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or officers under my supervision) have reviewed the information required to be provided by the Senior Trust Advisor in accordance
with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__]
(“Form 10-K”) and all information required to be provided by the Senior Trust Advisor in accordance with the
Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed in respect of the
period covered by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”) (such information
provided by the Senior Trust Advisor, collectively, the “Senior Trust Advisor Periodic Information”);

 

2.          
Based on my knowledge, the Senior Trust Advisor Periodic Information, taken as a whole, does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by the Form 10-K;

 

3.          
Based on my knowledge, all information required to be provided by the Senior Trust Advisor under the Pooling and Servicing Agreement
for inclusion in the Reports for

 

    	Exhibit Z-5-1

    	 

    

 

the
period covered by the Form 10-K is included in the Senior Trust Advisor Periodic Information;

 

4.          
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Senior Trust Advisor with respect to the Trust’s fiscal year _____ have been provided all information
relating to the Senior Trust Advisor’s assessment of compliance with the Relevant Servicing Criteria in order to enable
them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

5.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Senior Trust
Advisor or any Servicing Function Participant retained by the Senior Trust Advisor (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with
servicing criteria is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Senior Trust Advisor responsible for reviewing the activities performed
by the Senior Trust Advisor under the Pooling and Servicing Agreement.

 

Dated:
____________________________

	 	 
	 	Name:
	 	Title:

 

    	Exhibit Z-5-2

    	 

    

 

Exhibit
Z-6

 

Form
of Certification to be Provided

to Depositor by CUSTODIAN

 

J.P.
Morgan Chase Commercial Mortgage Securities Corp.

383 Madison Avenue, 31st Floor

New York, New York 10179

Attention: Chief Executive Officer

 

Re:  JPMBB
Commercial Mortgage Securities Trust 2015-C29, Commercial Mortgage Pass Through Certificates, Series 2015-C29, issued pursuant
to the Pooling and Servicing Agreement dated as of June 1, 2015 (the “Pooling and Servicing Agreement”),
among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master
Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, and Pentalpha Surveillance LLC,
as Senior Trust Advisor.

 

I,
[identity of certifying individual], hereby certify to the Depositor and its officers, directors and Affiliates (collectively,
the “Certification Parties”) as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Depositor
and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.          
I (or officers under my supervision) have reviewed the information required to be provided by the Custodian in accordance with
the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form
10-K”) and all information required to be provided by the Custodian in accordance with the Pooling and Servicing Agreement
for inclusion in all reports on Form 10-D and Form 8-K required to be filed in respect of the period covered by the Form 10-K
of the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by the Custodian,
collectively, the “Custodian Periodic Information”);

 

2.          
Based on my knowledge, the Custodian Periodic Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

3.          
Based on my knowledge, all information required to be provided by the Custodian under the Pooling and Servicing Agreement for
inclusion in the Reports for the period covered by the Form 10-K is included in the Custodian Periodic Information;

 

    	Exhibit Z-6-1

    	 

    

 

4.          
I (or officers under my supervision) am responsible for reviewing the activities performed by the Custodian under the Pooling
and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Custodian’s compliance
statement to be delivered under Article XI of the Pooling and Servicing Agreement required for inclusion in the Form 10-K under
Item 1123 of Regulation AB, and except as disclosed in the Custodian Periodic Information, the Custodian has fulfilled its obligations
under the Pooling and Servicing Agreement in all material respects; and

 

5.          
All of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Custodian
or any Servicing Function Participant retained by the Custodian (the “Relevant Servicing Criteria”) and their
related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling and Servicing
Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances of noncompliance
with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with servicing criteria
is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Custodian responsible for reviewing the activities performed by the Custodian
under the Pooling and Servicing Agreement.

 

Dated:
____________________________

	 	 
	 	Name:
	 	Title:

 

    	Exhibit Z-62

    	 

    

 

EXHIBIT
AA

 

Servicing
Criteria

to be Addressed in Assessment of Compliance

 

The
assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as
“Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission
or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based
on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of
doubt, for purposes of this Exhibit AA, other than with respect to Item 1122(d)(2)(iii), references to Servicer below shall
include any Sub-Servicer engaged by a Servicer or Special Servicer.

 

	 	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	

    Criteria	 
	 	General
    Servicing Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer 

	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer 

	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master
                                         Servicer 

        Special
        Servicer

        Custodian (as applicable) 

	1122(d)(1)(v)	Aggregation
    of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.1	Certificate
    Administrator

    Master Servicer

    Special Servicer
	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer 

	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Certificate
    Administrator
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Master
    Servicer

    Special Servicer

    Trustee (as applicable)
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Certificate
                                         Administrator

                                         Master Servicer

                                         Special Servicer 

 

 

 

1
The servicing criteria in Item 1122(d)(1)(v) of Regulation AB shall be applicable on and after November 23, 2015.

 

    	Exhibit AA-1

    	 

    

 

	 	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	

    Criteria	 
	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.
    For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial
    institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer 

	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer 

	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days
    after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed
    and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling
    items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number
    of days specified in the transaction agreements.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer

	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and
    other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms
    specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations;
    and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number
    of mortgage loans serviced by the Reporting Servicer.	Certificate
    Administrator

    Senior Trust Advisor 

    (with respect to A and B)
	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	Certificate
    Administrator
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	Certificate
    Administrator
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Certificate
    Administrator
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Custodian

    Master Servicer

    Special Servicer
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	Custodian
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan
    documents.	Master
    Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Master
    Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made,
    reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 	Master
    Servicer

    Special Servicer

 

    	Exhibit AA-2

    	 

    

 

	 	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	

    Criteria	 
	 	documents.	 
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and
    repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
    Servicer

    Senior Trust Advisor
	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements,
    and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters
    and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master
    Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Master
    Servicer
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts):  (A) such funds are analyzed, in accordance
    with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction
    agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan
    documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of
    the related mortgage loans, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master
    Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xiv)	 Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master
    Servicer
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB,
    is maintained as set forth in the transaction agreements.	N/A

 

 At
all times that the Certificate Administrator and the Trustee are the same entity, the Trustee and Certificate Administrator may
provide a combined assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation AB.

 

At
all times that the Master Servicer and the Special Servicer are the same entity, the Master Servicer and the Special Servicer
may provide a combined assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation
AB.

 

    	Exhibit AA-3

    	 

    

 

EXHIBIT
bb

 

ADDITIONAL
FORM 10-D DISCLOSURE

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.04 of the Pooling and Servicing
Agreement to disclose to the Depositor and the Certificate Administrator (or the Master Servicer, to the extent specified in Section
11.04 of the Pooling and Servicing Agreement) any information described in the corresponding Form 10-D Item described in the “Item
on Form 10-D” column to the extent such party has knowledge (and in the case of net operating income information, financial
statements, annual operating statements, budgets and/or rent rolls required to be provided in connection with Item 6 below, possession)
of such information (other than information as to itself). Each of the Certificate Administrator, the Trustee, the Master Servicer
and the Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus Supplement (other
than information with respect to itself that is set forth in or omitted from the Prospectus Supplement), in the absence of specific
notice to the contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the Master
Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume that there is no “significant obligor”
other than a party or property identified as such in the Prospectus Supplement and to assume that no other party or property will
constitute a “significant obligor” after the Cut-off Date. In no event shall the Master Servicer or the Special Servicer
be required to provide any information for inclusion in a Form 10-D that relates to any Mortgage Loan for which the Master Servicer
or the Special Servicer is not the Master Servicer or the Special Servicer, as the case may be. For this Series 2015-C29 Pooling
and Servicing Agreement, each of the Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer (in
its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments
within the meaning of Items 1114 or 1115 of Regulation AB.

  

	Item
    on Form 10-D	Party
    Responsible
	Item
                                         1A: Distribution and Pool Performance Information:

         

        ·     Item
        1121(a)(13) of Regulation AB

         

        
	·     Certificate
    Administrator
	Item
                                         1B: Distribution and Pool Performance Information:

         

        ·     Item
        1121(a)(14) of Regulation AB 

         
	·     Certificate
                                         Administrator

         

        ·     Depositor

         

 

 

    	Exhibit BB-1

    	 

    

 

	Item
    on Form 10-D	Party
    Responsible
	 

        Item
        2: Legal Proceedings:

         

        ·     Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described
        therein that are material to security holders)

         
	 

        ·   
          Master Servicer (as to itself)

         

        ·   
          Special Servicer (as to itself)

         

        ·  
           Certificate Administrator (as to itself)

         

        ·    
         Trustee (as to itself)

         

        ·   
          Depositor (as to itself)

         

        ·   
          Senior Trust Advisor (as to itself)

         

        ·   
          Any other Reporting Servicer (as to itself)

         

        ·    
         Trustee/Certificate Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (whichever of them
        is in principal control of the proceedings)

         

        ·   
          Each Mortgage Loan Seller as sponsor (as defined in Regulation AB)

         

        ·    
         Originators under Item 1110 of Regulation AB

         

        ·    
         Party under Item 1100(d)(1) of Regulation AB

         

	Item
    3:  Sale of Securities and Use of Proceeds

    
	·   
      Depositor
	Item
    4:  Defaults Upon Senior Securities

    
	·   
      Certificate Administrator
	Item
    5:  Submission of Matters to a Vote of Security Holders

    
	·   
      Certificate Administrator
	Item
                                         6: Significant Obligors of Pool Assets:

         

        ·     Item
        1112(b) of Regulation AB provided, however, that all of the following conditions shall apply: 
	·   
                                           Master Servicer (excluding information for which the Special Servicer is
                                         the “Party Responsible”)

         

        ·  
           Special Servicer (as to REO Properties)

 

    	Exhibit BB-2

    	 

    

 

	Item
    on Form 10-D	Party
    Responsible
	 

     (a)
     information shall be required to be reported only with respect to a party or property (if any) identified as a “significant
     obligor” in the Prospectus Supplement;

         

        (b)
        the information to be reported shall consist of such quarterly and annual operating statements, budgets and rent rolls
        of the related Mortgaged Property or REO Property (as applicable), and quarterly and annual financial statements of the
        related Borrower (except in the case of an REO Property), received or prepared by the “Party Responsible”
        pursuant to its obligations under Section 3.12(b) of this Pooling and Servicing Agreement; provided, however,
        that for a significant obligor under item 1101(k)(2) of Regulation AB, only net operating income for the most recent fiscal
        year and interim period is required and, if such information for a prior period was required but not previously reported, such
        information for such prior period; and

         

        (c)
        the information shall be reportable in the Form 10-D that relates to the Distribution Date that immediately follows the
        Collection Period in which the information was received or prepared by the “Party Responsible” as described
        in clause (b) above.

         

    	 
	Item
                                         7: Significant Enhancement Provider Information:

         

        ·     Item
        1114(b)(2) and Item 1115(b) of Regulation AB

         
	·   
      Depositor
	 

                                                                                Item
                                         8:  Other Information, but only to the extent of any information that meets
                                         all the following conditions:  (a) such information  
	·   
                                           Certificate Administrator, Trustee, Master Servicer and/or Special Servicer,
                                         in each case to the extent that such party is the 

    

 

    	Exhibit BB-3

    	 

    

 

	Item
    on Form 10-D	Party
    Responsible
	constitutes
    “Additional Form 8-K Disclosure” pursuant to Exhibit DD, (b) such information is required to be reported
    as “Additional Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such information
    was not previously reported as “Additional Form 8-K Disclosure”.	       “Party
                                         Responsible” with respect to such information pursuant to Exhibit DD.

         

        ·   
          Certificate Administrator (including the balances of the Distribution Account, the Interest Reserve Account
        and the Gain-on-Sale Reserve Account as of the related Distribution Date and the preceding Distribution Date)

         

        ·  
           Master Servicer (with respect to the balances of each REO Account (to the extent the related information
        has been received from the Special Servicer within the time period specified in Section 11.04 of the Pooling and Servicing
        Agreement) and the Certificate Account as of the related Distribution Date and the preceding Distribution Date)

         

        ·  
           Special Servicer (with respect to the balance of each REO Account as of the related Distribution Date
        and the preceding Distribution Date)

         

        ·  
           Any other party responsible for disclosure items on Form 8-K (including each applicable Seller with
        respect to Item 1100(e) of Regulation AB to the extent material to Certificateholders)

         

	Item
                                         9: Exhibits (no. 3):

         

        Articles
        of incorporation and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K)

         
	·  
       Depositor
	Item
                                         9: Exhibits (no. 4):

         

        With
        respect to instruments defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	·   
                                           Certificate Administrator

         

        ·   
          Depositor

         

        provided,
        in each case, that this shall in no event be construed to make such party responsible for the initial filing of this Pooling
        and Servicing Agreement 

 

    	Exhibit BB-4

    	 

    

 

	Item
    on Form 10-D	Party
    Responsible
	 	 

            provided
            further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee
            or Certificate Administrator, then the Depositor shall be the responsible party.

             

    
	Item
                                         9: Exhibits (no. 10):

         

        Material
        contracts (Exhibit No. 10 of Item 601 of Regulation S-K)

         
	·  
      Certificate Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of
    any contract that satisfies all the following conditions:  (a) such contract relates to the Trust or one or more
    Mortgage Loans or REO Mortgage Loans, and (b) such contract is a contract to which such party (or a subcontractor or vendor
    engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have
    been executed on behalf of the Trust.
	Item
                                         9: Exhibits (no. 22):

         

        Published
        Report Regarding Matters Submitted to a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K), but only
        if the party that is the “Party Responsible” with respect to Item 5 above elects to publish a report containing
        the information required by such Item 5 above and also elects to report the information on Form 10-D by means of filing
        the published report and answering Item 5 by referencing the published report.

         
	·  
      The applicable party that is the “Party Responsible” with respect to Item 5 as set forth above.
	Item
                                         9: Exhibits (no. 23):

         

        Consents
        of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where the filing of a written consent is required
        with respect to material (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement.

         
	·   
      Depositor

 

    	Exhibit BB-5

    	 

    

 

	Item
    on Form 10-D	Party
    Responsible
	Item
                                         9: Exhibits (no. 24)

         

        Power
        of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or
        the name of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.

         
	·   
      Certificate Administrator 
	Item
                                         9: Exhibits (no. 99)

         

        Additional
        exhibits (Exhibit No. 99 of Item 601 of Regulation S-K)

         
	·    
     Not Applicable.
	Item
                                         9: Exhibits (no. 100)

         

        XBRL-Related
        Documents (Exhibit No. 100 of Item 601 of Regulation S-K).

         
	·   
      Not Applicable.
	Item
    9:  Exhibits (By Operation of Item 8 Above), but only to the extent of any document that meets all the following
    conditions:  (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d)
    of Exhibit DD, (b) such document is required to be reported as “Additional Form 8-K Disclosure” during
    the period to which the Form 10-D relates, and (c) such document was not previously reported as “Additional Form 8-K
    Disclosure”.	·   
      Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party
    Responsible” for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Master
    Servicer or the Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any
    exhibits to a Form 10-K); provided, in each case, that in the event any reportable agreement is executed
    by the Depositor and the Trustee or Certificate Administrator, then the Depositor shall be the responsible party for this
    Item 9.

 

    	Exhibit BB-6

    	 

    

 

EXHIBIT
cc

 

ADDITIONAL
FORM 10-K DISCLOSURE

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.05 of the Pooling and Servicing
Agreement to disclose to the Depositor and the Certificate Administrator any information described in the corresponding Form 10-K
Item described in the “Item on Form 10-K” column to the extent such party has knowledge (and in the case of net operating
income information, financial statements, annual operating statements, budgets and/or rent rolls required to be provided in connection
with 1112(b) below, possession) of such information (other than information as to itself). Each of the Certificate Administrator,
the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy
of the Prospectus Supplement (other than information with respect to itself that is set forth in or omitted from the Prospectus
Supplement), in the absence of specific notice to the contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate
Administrator, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume
that there is no “significant obligor” other than a party or property identified as such in the Prospectus Supplement
and to assume that no other party or property will constitute a “significant obligor” after the Cut-off Date. In no
event shall the Master Servicer or the Special Servicer be required to provide any information for inclusion in a Form 10-K that
relates to any Mortgage Loan for which the Master Servicer or the Special Servicer is not the applicable Master Servicer or Special
Servicer, as the case may be. For this Series 2015-C29 Pooling and Servicing Agreement, each of the Certificate Administrator,
the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume that there is
no provider of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation
AB. 

 

	Item
    on Form 10-K	Party
    Responsible
	 

        Item
        1B: Unresolved Staff Comments  

         
	·    Depositor
	 

        Item
        9B: Other Information, but only to the extent of any information that meets all the following conditions:

         

        (a)
        such information constitutes “Additional Form 8-K Disclosure” pursuant to Exhibit DD,

         

        (b)
        such information is required to be reported as “Additional Form 8-K Disclosure” during the period to which
        the Form 10-K relates, and

         
	·      Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent that such party is the “Party
    Responsible” with respect to such information pursuant to Exhibit DD.

 

    	Exhibit CC-1

    	 

    

 

	Item
    on Form 10-K	Party
    Responsible
	 (c)
    such information was not previously reported as “Additional Form 8-K Disclosure” or as “Additional Form
    10-D Disclosure”	 
	Item
    15: Exhibits, Financial Statement Schedules (SEE BELOW)	SEE
    BELOW
	 

        Instruction
        J(2)(b) (Significant Obligors of Pool Assets) – Part 1 of 3 Parts:

         

        ·      Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was required to have been set forth in the
        Prospectus Supplement, (ii) such information was not so set forth and (iii) the applicable Master Servicer has not previously
        reported such information as “Additional Form 10-D Information”. 

         
	 

        ·      The
        applicable Mortgage Loan Seller.

         

         

         

	 

        Instruction
        J(2)(b) (Significant Obligors of Pool Assets) – Part 2 of 3 Parts:

         

        ·      Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was set forth in the Prospectus Supplement
        and (ii) the applicable Master Servicer has not previously reported such information or updated versions thereof as “Additional
        Form 10-D Information”. 

         
	·      The
    Depositor
	 

        Instruction
        J(2)(b) (Significant Obligors of Pool Assets) – Part 3 of 3 Parts:

         

        ·      Item
        1112(b) of Regulation AB; provided, however, that all of the following conditions shall apply: 

         
	 

        ·      Master
        Servicer (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ·      Special
        Servicer (as to REO Properties) 

         

 

    	Exhibit CC-2

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	 

        (a)
        information shall be required to be reported only with respect to a party or property (if any) identified as a “significant
        obligor” in the Prospectus Supplement;

         

        (b)
        the information to be reported shall consist of such quarterly and annual operating statements, budgets and rent rolls
        of the related Mortgaged Property or REO Property (as applicable), and quarterly and annual financial statements of the
        related Borrower (except in the case of an REO Property), received or prepared by the “Party Responsible”
        pursuant to its obligations under Section 3.12(b) of this Pooling and Servicing Agreement; provided, however,
        that for a significant obligor described under item 1101(k)(2) of Regulation AB, only net operating income for the most
        recent fiscal year and interim period is required and, if such information for a prior period was required but not previously
        reported, such information for such prior period; and

         

        (c)
        the information shall be reportable only to the extent that is has not previously been reported as “Additional Form
        10-D Information”. 

         
	
	 

        Instruction
        J(2)(c) (Significant Enhancement Provider Information):

         

        ·      Items
        1114(b)(2) and 1115(b) of Regulation AB 

         
	·      Depositor
	 

        Instruction
        J(2)(d) (Legal Proceedings):

         

        ·      Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of 
	 

        ·      Master
        Servicer (as to itself)

         

        ·      Special
        Servicer (as to itself)

         

        ·      Certificate
        Administrator (as to itself)  

 

    	Exhibit CC-3

    	 

    

 

 

	Item
    on Form 10-K	Party
    Responsible
	proceedings
    described therein that are material to security holders)	 

        ·      Trustee
        (as to itself)

         

        ·      Depositor
        (as to itself)

         

        ·      Trustee/Certificate
        Administrator /Master Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of
        the proceedings)

         

        ·      Each
        Mortgage Loan Seller as sponsor (as defined in Regulation AB)

         

        ·      Originators
        under Item 1110 of Regulation AB

         

        ·      Party
        under Item 1100(d)(1) of Regulation AB 

	 

        Instruction
        J(2)(e) (Affiliations and Certain Relationships and Related Transactions) – Part 1 of 2 Parts:

         

        1119(a)
        of Regulation AB,

         

        but
        only the existence and (if existent) how there is (that is, the nature of) any affiliation between itself (that is, the
        particular “Party Responsible”), on the one hand, and any one or more of the following, on the other: (1)
        the Depositor, (2) any Mortgage Loan Seller, (3) the Trust and (4) any other party listed under this item as a
        “Party Responsible”; provided, however, that an affiliation need not be disclosed for purposes
        of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously reported as “Additional
        Form 10-K Disclosure”.

         

        and

         

        ·      1119(b)
        of Regulation AB,

         

        but
        only the existence and (if existent) the general character of any business
	 

        ·      Master
        Servicer (as to itself) (only as to affiliations under Item 1119(a) with the Trustee, Certificate Administrator, each
        Special Servicer or a sub-servicer retained by it meeting any of the descriptions in Item 1108(a)(3)).

         

        ·      Special
        Servicer

         

        ·      Certificate
        Administrator

         

        ·      Trustee

         

        ·      Each
        party (other than a Mortgage Loan Seller), if any, that is identified in the Prospectus Supplement as an “originator”
        of one or more Mortgage Loans, if the Prospectus Supplement specifically states that the applicable Mortgage Loans were
        10% or more of the assets of the Trust at the date of the Prospectus Supplement (provided that such a party shall no longer
        constitute a “Party Responsible” under this item from and after the date (if any) when the Depositor notifies
        the parties to this Agreement to the effect that such party no longer constitutes an  

         

 

    	Exhibit CC-4

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	relationship,
                                         agreement, arrangement, transaction or understanding that is entered into outside the
                                         ordinary course of business or is on terms other than would be obtained in an arm’s
                                         length transaction with an unrelated third party (apart from the Series 201[_]-[_] transaction)
                                         between itself (that is, the particular “Party Responsible”) or any of its
                                         affiliates, on the one hand, and any one or more of the following, on the other: (1)
                                         the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust; provided, however,
                                         that a relationship, agreement, arrangement, transaction or understanding (A) must be
                                         reported only if it then exists or existed within the two prior years, (B) need not be
                                         reported if it is not material to an investor’s understanding of the Certificates
                                         and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed
                                         in the Prospectus Supplement or if it was previously reported as “Additional Form
                                         10-K Disclosure”.

         

        and

         

        ·      1119(c)
        of Regulation AB,

         

        but
        only the existence and (if existent) a description (including the terms and approximate dollar amount) of any specific
        relationship involving or related to the Series 201[_]-[_] transaction or the Mortgage Loans between itself (that is,
        the particular “Party Responsible”) or any of its affiliates, on the one hand, and any one or more of the
        following, on the other: (1) the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust; provided, however,
        that a relationship (A) must be reported only if it then exists or existed within the two prior years, (B) need not be
        reported if it is not material to an investor’s understanding of the Certificates and (C) need not be disclosed
        for purposes of the applicable Form 10-K if it was disclosed

         
	originator
                                         of 10% or more of the assets of the Trust).

         

        ·      Each
        party (other than a Mortgage Loan Seller), if any, that is specifically identified as an “originator of 10% or more
        of the assets of the Trust for purposes of Regulation AB and the upcoming Form 10-K” in a written notice delivered
        to the parties to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year
        in which the Form 10-K is due.

         

        ·      Each
        party (if any) that is identified in the Prospectus Supplement as an “other material party to the securities or
        transaction” (or substantially similar phrasing); provided, however, that such a party shall no longer constitute
        a “Party Responsible” under this item from and after the date (if any) when the Depositor notifies the parties
        to this Agreement to the effect that such party no longer constitutes a material party for purposes of Regulation AB.

         

        ·      Each
        party (if any) that that is specifically identified as an “other material party to the securities or transaction
        for purposes of Regulation AB and the upcoming Form 10-K” (or substantially similar phrasing) in a written notice
        delivered by the Depositor to the parties to this Pooling and Servicing Agreement, which notice is delivered not later
        than February 15 of the year in which the Form 10-K is due.

 

    	Exhibit CC-5

    	 

    

 

	Item
    on Form 10-K	Party
    Responsible
	in
                                         the Prospectus Supplement or if it was previously reported as “Additional Form
                                         10-K Disclosure”. 

         
	 
	 

        Instruction
        J(2)(e) (Affiliations and Certain Relationships and Related Transactions) – Part 2 of 2 Parts:

         

        1119(a)
        of Regulation AB,

         

        But
        only the existence and (if existent) how there is any affiliation between itself (that is, the particular “Party
        Responsible”), on the one hand, and any one or more of the parties listed under the preceding item as a “Party
        Responsible”, on the other; provided, however, that an affiliation need not be disclosed for purposes
        of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously reported as “Additional
        Form 10-K Disclosure”.

         

        and

         

        ·      1119(b)
        of Regulation AB,

         

        but
        only the existence and (if existent) the general character of any business relationship, agreement, arrangement, transaction
        or understanding that is entered into outside the ordinary course of business or is on terms other than would be obtained
        in an arm’s length transaction with an unrelated third party (apart from the Series 201[_]-[_] transaction) between
        itself (that is, the particular “Party Responsible”), on the one hand, and any one or more of the parties
        listed under the preceding item as a “Party Responsible”, on the other; provided, however,
        that a relationship, agreement, arrangement, transaction or understanding (A) must be reported only if it then exists
        or existed within the two prior years, (B) need 

         
	 

        ·      The
        Depositor

         

        ·      Each
        Mortgage Loan Seller

         

  

    	Exhibit CC-6

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	not
                                         be reported if it is not material to an investor’s understanding of the Certificates
                                         and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed
                                         in the Prospectus Supplement or if it was previously reported as “Additional Form
                                         10-K Disclosure”.

         

        and

         

        ·      1119(c)
        of Regulation AB,

         

        but
        only the existence and (if existent) a description (including the terms and approximate dollar amount) of any specific
        relationship involving or related to the Series 201[_]-[_] transaction or the Mortgage Loans between itself (that is,
        the particular “Party Responsible”) or any of its affiliates, on the one hand, and any one or more of the
        parties listed under the preceding item as a “Party Responsible”, on the other; provided, however,
        that a relationship (A) must be reported only if it then exists or existed within the two prior years, (B) need not be
        reported if it is not material to an investor’s understanding of the Certificates and (C) need not be disclosed
        for purposes of the applicable Form 10-K if it was disclosed in the Prospectus Supplement or if it was previously reported
        as “Additional Form 10-K Disclosure”. 

         
	 
	 

        Item
        15: Exhibits (no. 2):

         

        Plan
        of acquisition, reorganization, arrangement, liquidation or succession (Exhibit No. 2 of Item 601 of Regulation S-K)

         
	·      Depositor
	 

        Item
        15: Exhibits (no. 3):

         

        Articles
        of incorporation and by-laws

         
	·      Depositor

 

    	Exhibit CC-7

    	 

    

 

	Item
    on Form 10-K	Party
    Responsible
	(Exhibit
    No. 3(i) and 3(ii) of Item 601 of Regulation S-K)	 
	 

        Item
        15: Exhibits (no. 4):

         

        With
        respect to instruments defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	 

        ·      Trustee

         

        ·      Certificate
        Administrator

         

        ·      Depositor

         

        provided,
        in each case, that this shall in no event be construed to make such party responsible for the initial filing of this Pooling
        and Servicing Agreement

         

        provided
        further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee
        or Certificate Administrator, then the Depositor shall be the responsible party.

         

	 

        Item
        15: Exhibits (no. 10):

         

        Material
        contracts (Exhibit No. 10 of Item 601 of Regulation S-K)

         
	·      Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans,
    and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.
	 

        Item
        15: Exhibits (no. 11):

         

        Statement
        regarding computation of per share earnings (Exhibit No. 11 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable
	 

        Item
        15: Exhibits (no. 12):

         

        Statement
        regarding computation of ratios (Exhibit No. 12 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable.

  

    	Exhibit CC-8

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	 

        Item
        15: Exhibits (no. 13):

         

        Annual
        report to security holders, Form 10-Q and Form 10-QSB, or quarterly report to security holders (Exhibit No. 13 of Item
        601 of Regulation S-K)

         
	·      Not
    Applicable
	 

        Item
        15: Exhibits (no. 14):

         

        Code
        of Ethics (Exhibit No. 14 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable.
	 

        Item
        15: Exhibits (no. 16):

         

        Letter
        re change in certifying accountant (Exhibit No. 16 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable
	 

        Item
        15: Exhibits (no. 18):

         

        Letter
        re change in accounting principles (Exhibit No. 18 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable.
	 

        Item
        15: Exhibits (no. 21):

         

        Subsidiaries
        of registrant (Exhibit No. 18 of Item 601 of Regulation S-K)

         
	·      Depositor.
	 

        Item
        15: Exhibits (no. 22):

         

        Published
        Report Regarding Matters Submitted to a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K).

         
	·      Not
    Applicable.
	 

        Item
        15: Exhibits (no. 23) – Part 1 of 2 Parts:

         

        Consents
        of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where (a) the filing of a written consent is
        required with respect to material (in the Form 10-D) that is incorporated by reference in the Depositor’s registration
        statement and (b) the 
	·      Depositor

  

    	Exhibit CC-9

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	consent
                                         is not the consent of a registered public accounting firm in connection with an attestation
                                         delivered pursuant to Section 11.13 of this Pooling and Servicing Agreement.

         

         

         
	 
	 

        Item
        15: Exhibits (no. 23) – Part 2 of 2 Parts:

         

        Consents
        of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), but the required shall consist of a consent
        of the registered public accounting firm for purposes of any attestation report rendered with respect to the particular
        “Party Responsible” pursuant to Section 11.13 of this Pooling and Servicing Agreement.

         
	·      Master
                                         Servicer

         

        ·      Special
        Servicer

         

        ·      Depositor

         

        ·      Any
        other Servicing Function Participant

         

        provided,
        however, in each case, that such party shall have the duty to report or deliver, or cause the reporting or delivery,
        of such consent only to the extent that such party is required to deliver or cause the delivery of the related attestation
        report.

         

	 

        Item
        15: Exhibits (no. 24)

         

        Power
        of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or
        the name of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.

         
	·      Certificate
    Administrator
	 

        Item
        15: Exhibits (no. 31(i))

         

        Rule
        13a-14(a)/15d-14(a) Certifications (Exhibit No. 31(i) of Item 601 of Regulation S-K).

         
	·      Not
    Applicable
	 

        Item
        15: Exhibits (no. 31(ii))

         

        Rule
        13a-14(d)/15d-14(d) Certifications (Exhibit No. 31(ii) of Item 601 of Regulation S-K).

         
	·      Delivery
    of this exhibit (Sarbanes-Oxley certification and backup certifications) is governed by Section 11.08 (and Section 11.07)
    of this Pooling and Servicing Agreement.
	 

        Item
        15: Exhibits (no. 32)

         

        Section
        1350 Certifications (Exhibit No. 32 of Item 601 of Regulation S-K).

         
	·      Not
    Applicable.

  

    	Exhibit CC-10

    	 

    

  

	Item
    on Form 10-K	Party
    Responsible
	 

        Item
        15: Exhibits (no. 33)

         

        Report
        on assessment of compliance with servicing criteria for asset-backed securities (Exhibit No. 33 of Item 601 of Regulation
        S-K).

         
	·      Delivery
    of this exhibit (annual compliance assessment) is governed by Section 11.12 (and Section 11.07) of this Pooling and Servicing
    Agreement.
	 

        Item
        15: Exhibits (no. 34)

         

        Attestation
        report on assessment of compliance with servicing criteria for asset-backed securities (Exhibit No. 34 of Item 601 of
        Regulation S-K).

         
	·      Delivery
    of this exhibit (annual accountants’ attestation report) is governed by Section 11.13 (and Section 11.07) of this Pooling
    and Servicing Agreement.
	 

        Item
        15: Exhibits (no. 35)

         

        Servicer
        compliance statement (Exhibit No. 35 of Item 601 of Regulation S-K).

         
	·      Delivery
    of this exhibit (annual servicer compliance statements) is governed by Section 11.10 (and Section 11.07) of this Pooling and
    Servicing Agreement.
	 

        Item
        15: Exhibits (no. 99)

         

        Additional
        exhibits (Exhibit No. 99 of Item 601 of Regulation S-K)

         
	·      Not
    Applicable.
	 

        Item
        15: Exhibits (no. 100)

         

        XBRL-Related
        Documents (Exhibit No. 100 of Item 601 of Regulation S-K).

         
	·      Not
    Applicable.
	Item
    15: Exhibits (By Operation of Item 9B Above), but only to the extent of any document that meets all the following conditions:
    (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d) of Exhibit DD,
    (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the
    Form 10-K relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	·      Certificate
    Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible”
    for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Master Servicer or the
    Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits to a Form
    10-K).

 

    	Exhibit CC-11

    	 

    

 

EXHIBIT
dd

 

FORM
8-K DISCLOSURE INFORMATION

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.07 of the Pooling and Servicing
Agreement to report to the Depositor and the Certificate Administrator the occurrence of any event described in the corresponding
Form 8-K Item described in the “Item on Form 8-K” column to the extent such party has knowledge of such information
(other than information as to itself). Each of the Certificate Administrator, the Trustee, the Master Servicer and the Special
Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus Supplement (other than information
with respect to itself that is set forth in or omitted from the Prospectus Supplement), in the absence of specific notice to the
contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the Master Servicer
and the Special Servicer (in its capacity as such) shall be entitled to assume that there is no “significant obligor”
other than a party or property identified as such in the Prospectus Supplement and to assume that no other party or property will
constitute a “significant obligor” after the Cut-off Date. In no event shall the Master Servicer or the Special Servicer
be required to provide any information for inclusion in a Form 8-K that relates to any Mortgage Loan for which the Master Servicer
or the Special Servicer is not the applicable Master Servicer or Special Servicer, as the case may be. For this Series 2015-C29
Pooling and Servicing Agreement, each of the Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer
(in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative
instruments within the meaning of Items 1114 or 1115 of Regulation AB.

  

	Item
    on Form 8-K	Party
    Responsible   
	Item
                                         1.01: Entry into a Material Definitive Agreement

         

         

         
	·     Depositor,
                                         except as described in the next bullet (it being acknowledged that Item 601 of Regulation
                                         S-K requires filing of material contracts to which the registrant or a subsidiary thereof
                                         is a party).  

         

        ·     Certificate
        Administrator, Trustee, Master Servicer and/or Special Servicer (it being acknowledged that Instruction 3 to Item 1.01
        of Form 8-K requires disclosure regarding the entry into or an amendment of a definitive agreement that is material to
        the asset-backed securities transaction, even if the registrant is not a party to such agreement), in each case to the
        extent of any   

 

    	Exhibit DD-1

    	 

    

 

	Item
    on Form 8-K	Party
    Responsible     
		       
    amendment or definitive agreement that satisfies all the following conditions: (a) such amendment or definitive agreement
    relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans, and (b) such amendment or definitive agreement is
    an amendment or definitive agreement to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust;
    provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection
    with any amendment to this Pooling and Servicing Agreement.  
	Item
    1.02:  Termination of a Material Definitive Agreement– Part 1 of 2 Parts	·     Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans,
    and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust;
    provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection
    with any amendment to this Pooling and Servicing Agreement.  
	Item
    1.02:  Termination of a Material Definitive Agreement– Part 2 of 2 Parts	·     Depositor,
    to the extent of any material agreement not covered in the prior item  

  

    	Exhibit DD-2

    	 

    

 

	Item
    on Form 8-K	Party
    Responsible 
	Item
    1.03:  Bankruptcy or Receivership	·    Depositor
	Item
    2.04:  Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance
    Sheet Arrangement	·    Depositor

         

        ·    Certificate
        Administrator 

	Item
    3.03:  Material Modification to Rights of Security Holders	·    Certificate
    Administrator
	Item
    5.03:  Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year	·    Depositor
	Item
    6.01:  ABS Informational and Computational Material	·    Depositor
	Item
    6.02 (Part 1 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a change in trustee	·    Trustee

         

        ·    Depositor 

	Item
    6.02 (Part 2 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a change in Master Servicer
    or Special Servicer	·    Certificate
                                         Administrator

         

        ·    Master
        Servicer or Special Servicer, as the case may be (in each case, as to itself) 

	Item
    6.02 (Part 3 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a servicer (other than
    a party to the Pooling and Servicing Agreement) appointed by the particular “Party Responsible”.	·    Master
                                         Servicer

         

        ·    Special
        Servicer

         

        ·    Certificate
        Administrator

         

        ·    Depositor 

	Item
    6.03:  Change in Credit Enhancement or External Support	·    Depositor

         

        ·    Certificate
        Administrator 

	Item
    6.04:  Failure to Make a Required Distribution	·    Certificate
    Administrator
	Item
    6.05:  Securities Act Updating Disclosure	·    Depositor

 

 

    	Exhibit DD-3

    	 

    

 

	Item
    on Form 8-K	Party
    Responsible 
	Item
    7.01:  Regulation FD Disclosure	·    Depositor
	Item
    8.01:  Other Events	·    Depositor
	Item
                                         9.01(d): Exhibits (no. 1):

         

        Underwriting
        agreement (Exhibit No. 1 of Item 601 of Regulation S-K) 
	·    Not
    applicable
	Item
                                         9.01(d): Exhibits (no. 2):

          

        Plan
        of acquisition, reorganization, arrangement, liquidation or succession (Exhibit No. 2 of Item 601 of Regulation S-K) 
	·    Depositor
	Item
                                         9.01(d): Exhibits (no. 3):

          

        Articles
        of incorporation and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K) 
	·    Depositor
	Item
                                         9.01(d): Exhibits (no. 4):

         

        With
        respect to instruments defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	·    Certificate
                                         Administrator

         

        provided,
        in each case, that this shall in no event be construed to make such party responsible for the initial filing of this Pooling
        and Servicing Agreement 

	Item
                                         9.01(d): Exhibits (no. 7):

         

        Correspondence
        from an independent accountant regarding non-reliance on a previously issued audit report or completed interim review.
        (Exhibit No. 7 of Item 601 of Regulation S-K) 
	·    Not
    Applicable

 

 

    	Exhibit DD-4

    	 

    

 

	Item
    on Form 8-K	Party
    Responsible 
	Item
                                         9.01(d): Exhibits (no. 14):

         

        Code
        of Ethics (Exhibit No. 14 of Item 601 of Regulation S-K) 
	·    Not
    Applicable
	Item
                                         9.01(d): Exhibits (no. 16):

         

        Letter
        re change in certifying accountant (Exhibit No. 16 of Item 601 of Regulation S-K) 
	·    Not
    Applicable
	Item
                                         9.01(d): Exhibits (no. 17):

         

        Correspondence
        on departure of director (Exhibit No. 17 of Item 601 of Regulation S-K) 
	·    Not
    Applicable
	Item
                                         9.01(d): Exhibits (no. 20):

         

        Other
        documents or statements to security holders (Exhibit No. 20 of Item 601 of Regulation S-K) 
	·    Not
    Applicable
	Item
                                         9.01(d): Exhibits (no. 23):

         

        Consents
        of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where the filing of a written consent is required
        with respect to material (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement. 
	·    Depositor
	Item
                                         9.01(d): Exhibits (no. 24)

         

        Power
        of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or
        the name of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney. 
	·    Certificate
    Administrator 
	Item
                                         15: Exhibits (no. 99)

         

        Additional
        exhibits (Exhibit No. 99 of Item 601 of Regulation S-K) 
	·    Not
    Applicable.

 

    	Exhibit DD-5

    	 

    

 

	Item
    on Form 8-K	Party
    Responsible 
	Item
                                         15: Exhibits (no. 100)

         

        XBRL-Related
        Documents (Exhibit No. 100 of Item 601 of Regulation S-K). 
	·    Not
    Applicable.

  

    	Exhibit DD-6

    	 

    

  

EXHIBIT
EE

 

ADDITIONAL
DISCLOSURE NOTIFICATION

 

**SEND
VIA FAX TO 410-715-2380 AND VIA EMAIL TO cts.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO THE ADDRESS IMMEDIATELY
BELOW**

 

Wells
Fargo Bank, National Association, as Certificate Administrator 

9062
Old Annapolis Road 

Columbia,
Maryland 21045-1951 

Attn:
Corporate Trust Services (CMBS) J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2015-C29—SEC REPORT PROCESSING

 

RE:
**Additional Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies
and Gentlemen:

 

In
accordance with Section [11.04] [11.05] [11.07] of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling
and Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor (the “Depositor”),
Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association,
as Special Servicer, Wilmington Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate
Administrator, and Pentalpha Surveillance LLC, as Senior Trust Advisor, the undersigned, as [            
], hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

List
of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any
inquiries related to this notification should be directed to [                       ],
phone number: [                       ];
email address: [                       ].

	 	 	 
	 	[NAME OF PARTY],
	 	as [role]
	 	 	 
	 	By:  	
	 	 	Name:
	 	 	Title:

  

cc:
Depositor

 

    	Exhibit EE-1

    	 

    

 

EXHIBIT
ff

 

		1.	NorthMarq
                                         Capital, LLC

		2.	Bernard
                                         Financial Corporation

		3.	Grandbridge
                                         Real Estate Capital, LLC

		4.	GEMSA
                                         Loan Services, L.P.

		5.	Holliday
                                         Fenoglio Fowler, L.P.

		6.	NRC
                                         Group, Inc.

		7.	Magna
                                         Bank

 

 

    	Exhibit FF-1

    	 

    

  

EXHIBIT
gg

 

SERVICING
FUNCTION PARTICIPANTS

 

None.

 

    	Exhibit GG-1

    	 

    

 

EXHIBIT
HH

 

FORM
OF ANNUAL COMPLIANCE STATEMENT

 

CERTIFICATION

 

 JPMBB
Commercial Mortgage Securities Trust 2015-C29,

Commercial Mortgage Pass-Through Certificates

Series 2015-C29 (the “Trust”)

 

I,
[identifying the certifying individual], on behalf of [Wells Fargo Bank, National Association, as Master Servicer] [Midland Loan
Services, a Division of PNC Bank, National Association, as Special Servicer] [Wells Fargo Bank, National Association, as Certificate
Administrator] [Wilmington Trust, National Association, as Trustee] (the “Certifying Servicer”), certify to
J.P. Morgan Chase Commercial Mortgage Securities Corp. and its officers, directors and affiliates, and with the knowledge and
intent that they will rely upon this certification, that:

 

		1.	I
                                         (or Servicing Officers under my supervision) have reviewed the Certifying Servicer’s
                                         activities [during the preceding calendar year] [between [__] and [__]] (the “Reporting
                                         Period”) and the Certifying Servicer’s performance under the Pooling
                                         and Servicing Agreement; and

 

		2.	To
                                         the best of my knowledge, based on such review, the Certifying Servicer has fulfilled
                                         all of its obligations under the Pooling and Servicing Agreement in all material respects
                                         during the Reporting Period. [To my knowledge, the Certifying Servicer has failed to
                                         fulfill the following obligations under the Pooling and Servicing Agreement: [SPECIFY
                                         EACH SUCH FAILURE AND THE NATURE AND STATUS THEREOF]].

	 	 	 
	Date:	 	 
	 	 
	[WELLS FARGO BANK, NATIONAL
    ASSOCIATION,	 
	as master servicer]	 
	[MIDLAND LOAN SERVICES, A
    DIVISION OF PNC	 
	BANK, NATIONAL ASSOCIATION,
    as special servicer]	 
	[WELLS FARGO BANK, NATIONAL
    ASSOCIATION,	 
	as certificate administrator]	 
	[WILMINGTON TRUST, NATIONAL
    ASSOCIATION,	 
	as trustee]	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	Exhibit HH-1

    	 

    

 

EXHIBIT
ii

 

FORM
OF REPORT ON ASSESSMENT OF

COMPLIANCE with SERVICING CRITERIA

 

[Name
of Reporting Servicer] (the “Reporting Servicer”) is responsible for assessing compliance with the servicing
criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB, as of and for the 12-month period ending December
31, 20[__] (the “Reporting Period”), as set forth in Exhibit AA to the Pooling and Servicing Agreement. The
transactions covered by this report include asset-backed securities transactions for which the Reporting Servicer acted as [a
master servicer, special servicer, trustee, certificate administrator] involving commercial mortgage loans [other than __________________1]
(the “Platform”);

 

The
Reporting Servicer has engaged certain vendors, which are not servicers as defined in Item 1101(j) of Regulation AB (the “Vendors”)
to perform specific, limited or scripted activities, and the Reporting Servicer elects to take responsibility for assessing compliance
with the servicing criteria or portion of the servicing criteria applicable to such Vendors’ activities as set forth on
Schedule A;

 

Except
as set forth in paragraph 4 below, the Reporting Servicer used the criteria set forth in paragraph (d) of Item 1122 of Regulation
AB to assess the compliance with the applicable servicing criteria;

 

The
criteria listed in the column titled “Inapplicable Servicing Criteria” on Schedule A hereto are inapplicable to the
Reporting Servicer based on the activities it performs, directly or through its Vendors, with respect to the Platform;

 

The
Reporting Servicer has complied, in all material respects, with the applicable servicing criteria as of December 31, 20[__] and
for the Reporting Period with respect to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The
Reporting Servicer has not identified and is not aware of any material instance of noncompliance by the Vendors with the applicable
servicing criteria as of December 31, 20[__] and for the Reporting Period with respect to the Platform taken as a whole[, except
as described on Schedule B hereto];

 

The
Reporting Servicer has not identified any material deficiency in its policies and procedures to monitor the compliance by the
Vendors with the applicable servicing criteria as of December 31, 20[__] and for the Reporting Period with respect to the Platform
taken as a whole[, except as described on Schedule B hereto]; and

 

 

 

1
Describe any permissible exclusions, including those permitted under telephone interpretation 17.04 (i.e. transactions registered
prior to compliance with Regulation AB, transactions involving an offer and sale of asset backed securities that were not required
to be issued), if applicable.

 

    	Exhibit II-1

    	 

    

 

 

[____],
a registered public accounting firm, has issued an attestation report on the Reporting Servicer’s assessment of compliance
with the applicable servicing criteria for the Reporting Period.

 

[Date
of Certification]

 

	 	[Name of Reporting
    Servicer]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit II-2

    	 

    

 

EXHIBIT
JJ 

 

CREFC®
PAYMENT INFORMATION

 

Payments
shall be made to “CRE Finance Council” and sent to:

Commercial Real Estate Finance Council, Inc.

900 7th Street, NW, Suite 820

Washington, DC 20001

Attn: Stephen M. Renna 

 

or by
wire transfer to: 

 

Account
Name: Commercial Real Estate Finance Council (CREFC®)

Bank Name: Chase

Bank Address: 80 Broadway, New York, NY 10005

Routing Number: 021000021

Account Number: 213597397 

 

    	Exhibit JJ-1

    	 

    

 

EXHIBIT
kk 

 

Form
of Notice of ADDITIONAL

INDEBTEDNESS NOTIFICATION 

 

VIA
E-MAIL: 

To:
Wells Fargo Bank, National Association, as Certificate Administrator; cts.sec.notifications@wellsfargo.com  

 

Ref:
JPMBB 2015-C29, Additional Debt Notice for From 10-D

 

The
following information is being furnished to you for inclusion on Form 10-D pursuant to Section 3.20(h) of the Pooling and Servicing
Agreement 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Portfolio
    Name	 	Mortgage
Loan	 	Position
    in
Debt Stack	 	Additional
Debt	 	OPB	 	OPB
    Date	 	Appraised
Value	 	Appraised
    Value
Date	 	Aggregate
LTV	 	 	Aggregate
NCF
    DSCR	 	Aggregate
NCF
    DSCR
Date	 	Primary
Servicer	 	Master
Servicer	 	Lead
Servicer	 	Prospectus
ID
	1	 	JPMBB 2015-C29	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total	 	 	 	 	 	 $	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	JPMBB 2015-C29	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total	 	 	 	 	 	 $	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3	 	JPMBB 2015-C29	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outside the Trust	 	 	 	 	 	 $	 	 	 	 	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total	 	 	 	 	 	 $	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Exhibit KK-1

    	 

    

 

EXHIBIT
LL

 

Form
of Notice of Exchangeable Certificates

for the Class EC Certificates

 

Wells
Fargo Bank, National Association

   as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS) –

                 JPMBB
Mortgage Securities Trust Series 2015-C29 

Ref:
JPMBB 2015-C29 Exchange Request 

Via
email to: 

	 	 	 
	 	·	cts.cmbs.bond.admin@wellsfargo.com

 

Ladies
and Gentlemen:

 

In
accordance with Section 5.09 of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo
Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer, Wilmington Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator,
and Pentalpha Surveillance LLC, as Senior Trust Advisor, the undersigned, as Certificateholder or Certificate Owner, we hereby
give notice of our intent to present and surrender the [Exchangeable Certificates specified on Schedule I attached hereto] [Class
EC Certificates specified on Schedule I attached hereto] and all of our right, title and interest in and to such [Exchangeable
Certificates][Class EC Certificates], including all payments of interest thereon received after [_____________], in exchange for
the [Class EC Certificates specified on Schedule I attached hereto][Exchangeable Certificates specified on Schedule I attached
hereto]. We propose an Exchange Date of [______].

 

We
agree that upon such exchange, our interests in the portions of the [Exchangeable Certificates][Class EC Certificates] designated
for exchange shall be cancelled and replaced by the [Class EC Certificates][Exchangeable Certificates] issued in exchange therefor.

 

    	Exhibit LL-1

    	 

    

 

[[If
Applicable] Our Depository participant number is [________].]

 

Capitalized
terms used in this notice but not defined herein have the meanings assigned to them in the Pooling and Servicing Agreement.

	 	 
	 	[________________]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit LL-2

    	 

    

 

SCHEDULE
I

 

CERTIFICATES
TO BE EXCHANGED 

	Certificates
    to

    be exchanged	CUSIP
    (of

    Certificates to

    be exchanged)	outstanding
    principal

    balance of the Initial

    Certificate Balance of

    Certificates to be

    exchanged	Certificates
    to

    be received	CUSIP
    (of

    Certificates to be

    received)
	 			 	 

         

         

         

 

The
Exchangeable Certificates and Class EC Certificates may be exchanged only in the Exchange Proportion designated in the Pooling
and Servicing Agreement.

 

    	Exhibit LL-3

    	 

    

 

EXHIBIT
MM

 

ADDITIONAL
DISCLOSURE NOTIFICATION (ACCOUNTS) 

 

INSTRUCTIONS: 

 

FOR
ACCOUNT BALANCE REPORTING: SEND VIA EMAIL TO: 

CTS.SEC.NOTIFICATIONS@WELLS
FARGO.COM

 

FOR
ALL OTHER NOTIFICATIONS: SEND VIA FAX, EMAIL AND OVERNIGHT MAIL TO THE ADDRESS IMMEDIATELY BELOW**

 

Wells
Fargo Bank, National Association, as Certificate Administrator 

9062
Old Annapolis Road 

Columbia,
Maryland 21045-1951 

Attn:
Corporate Trust Services JPMBB 2015-C29—SEC REPORT PROCESSING 

E-Mail:
cts.sec.notifications@wellsfargo.com 

 

RE:   **Additional
Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies
and Gentlemen:

 

In
accordance with Section 11.04 of the Pooling and Servicing Agreement, dated as of June 1, 2015 (the “Pooling and
Servicing Agreement”), by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor (the “Depositor”),
Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association,
as Special Servicer, Wilmington Trust, National Association, as Trustee, Wells Fargo Bank, National Association, as Certificate
Administrator, and Pentalpha Surveillance LLC, as Senior Trust Advisor, the undersigned, as [ ], hereby notifies you that certain
events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K]. 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

[With
respect to the Certificate Account and REO Account balance information:

 

	Account
    Name	Beginning
                                         Balance as of 

                                         MM/DD/YYYY 
	Ending
                                         Balance as of

                                         MM/DD/YYYY 

	Certificate
    Account	 	 
	REO
    Account	 	 

 

    	Exhibit MM-1

    	 

    

 

List
of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any
inquiries related to this notification should be directed to [                       ],
phone number: [         ]; email address:  [                   ].

 

	 	[NAME OF PARTY], 
	 	as [role]
	 	 
	 	 By:	 
	 	 	Name:
	 	 	Title:

 

cc: Depositor

 

    	Exhibit MM-2

    	 

    

 

EXHIBIT
NN

 

Form
of NOTICE OF PURCHASE OF CONTROLLING CLASS CERTIFICATE

 

[Date]

 

Wells
Fargo Bank, National Association

as
Certificate Administrator

9062
Old Annapolis Road

Columbia,
Maryland 21045

Email:
trustadministrationgroup@wellsfargo.com 

 

Wells
Fargo Bank, National Association 

as
Master Servicer

Commercial Mortgage Servicing

MAC D1086-120, 550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: JPMBB 2015-C29 Asset Manager

Telecopy Number: (704) 715-0036 

 

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

10851 Mastin Street

Overland Park, Kansas 66210

Attention:  Executive Vice President – Division Head

JPMBB
2015-C29 

Telecopy
Number:  (913) 253-9001 

 

Pentalpha
Surveillance LLC 

as
Senior Trust Advisor

375 N. French Road, Suite 100

Amherst, New York 14228

Attention: Don Simon, Chief Operating Officer

Email: don.simon@pentalphasurveillance.com and notices@pentalphasurveillance.com 

 

Re:              JPMBB
Commercial Mortgage Securities Trust 2015-C29 Commercial Mortgage Pass-Through Certificates, Series 2015-C29 (the “Certificates”)
issued pursuant to the Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as of
June 1, 2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells
Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha
Surveillance LLC, as Senior Trust Advisor

 

This
letter is delivered to you, pursuant to Section 3.28(a) of the Pooling and Servicing Agreement in connection with the transfer
by ____________ (the “Transferor”) to us (the “Transferee”) of $__________________ original
principal balance in the Class [__] Certificates,

 

    	Exhibit NN-1

    	 

    

 

representing
[_____]% of the Class [__] Certificates. The Certificates were issued pursuant to the Pooling and Servicing Agreement.

 

		1.	Our
                                         name and address is as follows:

	 
	 
	 

 

Contact
Info: [Tel/Email] 

 

		2.	[IF
                                         APPLICABLE] We hereby certify, represent and warrant to you, as Certificate Administrator,
                                         that we are purchasing a majority interest in the Class [__] Certificates, and that
                                         we are not affiliated with the Transferor. To the extent that any Control Event or Consultation
                                         Termination Event has occurred due to a waiver of a prior Class [__] Certificateholder
                                         of its rights under the Pooling and Servicing Agreement, we hereby request that you reinstate
                                         such rights and post a “special notice” on your website to the following
                                         effect:

 

“A
Consultation Termination Event or a Control Event has been terminated and is no longer in effect due to a transfer of a majority
interest of the Controlling Class to an unaffiliated third party which has terminated any waiver by the prior Holder.

 

All
capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing
Agreement.

	 	 
	 	Very truly yours,
	 	 
	 	(Transferee)
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit NN-2

    	 

    

 

EXHIBIT
OO

 

[RESERVED]

 

    	Exhibit OO-1

    	 

    

 

Schedule
1

 

Mortgage
Loans with Additional Debt 

 

		1.	One
                                         City Centre

		2.	JAGR
                                         Portfolio

		3.	Horizon
                                         Outlet Shoppes Portfolio

		4.	Marriott
                                         - Pittsburgh

 

    	Schedule 1-1

    	 

    

 

Schedule
2

 

CLass
A-SB Planned Principal Balance Schedule 

See
Annex E to the Prospectus Supplement.

 

    	Schedule 2-1

    	 

    

 

Schedule
3

 

Mortgage
Loans With “Performance”, “Earn-out” or “Holdback” Escrows or Reserves 

 

None. 

 

    	Schedule 3-1

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