Document:

Exhibit 4.5 

 

EXECUTION VERSION

 

 

INTERCREDITOR AGREEMENT

Dated as of March 1, 2022

by and between

MORGAN
STANLEY bank, N.A.,

(Note A-1 Holder, Note A-2 Holder, Note A-3
Holder, Note A-4 Holder, Note A-5 Holder, Note A-6 Holder, Note A-7 Holder, Note A-8 Holder and Note A-9 Holder)

SUN
LIFE ASSURANCE COMPANY OF CANADA,

(Note B-1 Holder)

SUN
LIFE INSURANCE (CANADA) Limited,

(Note B-2 Holder)

and

SUN
LIFE HONG KONG LIMITED

(Note B-3 Holder)

 

Constitution Center

 

    	 	 	 

     

    

This INTERCREDITOR AGREEMENT
(this “Agreement”), dated as of March 1, 2022, by and between MORGAN STANLEY BANK, N.A. (“Morgan Stanley Bank”),
as holder of Note A-1 (in such capacity, together with its successors and assigns, the “Note A-1 Holder”), holder of
Note A-2 (in such capacity, together with its successors and assigns, the “Note A-2 Holder”), holder of Note A-3 (in
such capacity, together with its successors and assigns, the “Note A-3 Holder”), holder of Note A-4 (in such capacity,
together with its successors and assigns, the “Note A-4 Holder”), holder of Note A-5 (in such capacity, together with
its successors and assigns, the “Note A-5 Holder”), holder of Note A-6 (in such capacity, together with its successors
and assigns, the “Note A-6 Holder”), holder of Note A-7 (in such capacity, together with its successors and assigns,
the “Note A-7 Holder”), holder of Note A-8 (in such capacity, together with its successors and assigns, the “Note
A-8 Holder”) and holder of Note A-9 (in such capacity, together with its successors and assigns, the “Note A-9 Holder”,
and, together with the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6
Holder, the Note A-7 Holder and the Note A-8 Holder, the “Note A Holders”), SUN LIFE ASSURANCE COMPANY OF CANADA, as
holder of Note B-1 (in such capacity, together with its successors and assigns, the “Note B-1 Holder”), SUN LIFE INSURANCE
(CANADA) LIMITED, as holder of Note B-2 (in such capacity, together with its successors and assigns, the “Note B-2 Holder”),
SUN LIFE HONG KONG LIMITED, as holder of Note B-3 (in such capacity, together with its successors and assigns, the “Note B-3
Holder” and, together with the Note B-1 Holder and Note B-2 Holder, the “Note B Holders”), and MORGAN STANLEY
MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, as initial agent (in such capacity, “Initial Agent”).

W I T N E S S E T H:

WHEREAS, on February 16,
2022, Morgan Stanley Bank and Morgan Stanley Mortgage Capital Holdings LLC (“MSMCH”) made a mortgage loan in the original
principal amount of $450,000,000 (together, the “Mortgage Loan”) to CC Owner, LLC, a Delaware limited liability company
having an address at 400 7th Street SW, Washington, DC 20024 (together with its successors and assigns, the “Mortgage Loan Borrower”)
pursuant to a Loan Agreement dated as of February 16, 2022 (as amended, supplemented or modified from time to time, the “Loan
Agreement”);

WHEREAS, the Mortgage Loan
is secured by a first mortgage lien (the “Mortgage”), as more particularly described in the Mortgage Loan Schedule
attached as Exhibit A hereto, on the parcel of real property at the location set forth in the Mortgage Loan Schedule (the “Mortgaged
Property”);

WHEREAS, the Mortgage Loan
is evidenced by (i) Promissory Note A-1, in favor of Morgan Stanley Bank, in the original principal amount of $80,000,000.00 (as amended,
supplemented or modified, “Note A-1”), (ii) Promissory Note A-2, in favor of Morgan Stanley Bank, in the original principal
amount of $80,000,000.00 (as amended, supplemented or modified, “Note A-2”), (iii) Promissory Note A-3, in favor of
Morgan Stanley Bank, in the original principal amount of $50,000,000.00 (as amended, supplemented or modified, “Note A-3”),
(iv) Promissory Note A-4, in favor of Morgan Stanley Bank, in the original principal amount of $40,000,000.00

    	 	 	 

     

    

(as amended, supplemented or modified, “Note
A-4”), (v) Promissory Note A-5, in favor of Morgan Stanley Bank, in the original principal amount of $40,000,000.00 (as amended,
supplemented or modified, “Note A-5”, (vi) Promissory Note A-6, in favor of Morgan Stanley Bank, in the original principal
amount of $30,000,000.00 (as amended, supplemented or modified, “Note A-6”), (vii) Promissory Note A-7, in favor of
Morgan Stanley Bank, in the original principal amount of $30,000,000.00 (as amended, supplemented or modified, “Note A-7”),
(viii) Promissory Note A-8, in favor of Morgan Stanley Bank, in the original principal amount of $20,000,000.00 (as amended, supplemented
or modified, “Note A-8”), (ix) Promissory Note A-9, in favor of Morgan Stanley Bank, in the original principal amount
of $28,000,000.00 (as amended, supplemented or modified, “Note A-9” and, together with Note A-1, Note A-2, Note A-3,
Note A-4, Note A-5, Note A-6, Note A-7 and Note A-8, “Note A” and each, a “Note A”), (x) Promissory
Note B-1, in favor of Sun Life Assurance Company of Canada (as successor-in-interest to Morgan Stanley Mortgage Capital Holdings LLC),
in the original principal amount of $16,000,000 (as amended, supplemented or modified, “Note B-1”), (xi) Promissory
Note B-2, in favor of Sun Life Insurance (Canada) Limited (as successor-in-interest to Morgan Stanley Mortgage Capital Holdings LLC),
in the original principal amount of $16,000,000 (as amended, supplemented or modified, “Note B-2”), and (xii) Promissory
Note B-3, in favor of Sun Life Hong Kong Limited (as successor-in-interest to Morgan Stanley Mortgage Capital Holdings LLC), in the original
principal amount of $20,000,000 (as amended, supplemented or modified, “Note B-3” and, together with Note B-1 and Note
B-2, “Note B” and each, a “Note B”);

WHEREAS, Morgan Stanley
Bank expects to transfer all or controlling portions of each Note A to securitization depositors for inclusion in securitization trusts
that may also include one or more other mortgage loans (each such securitization, a “Note A Securitization” and the
closing date of the Note A Securitization that includes the Lead Note A, the “Note A Securitization Date”);

WHEREAS, on the date hereof,
MSMCH intends to transfer its right, title and interest in (i) Note B-1 to Sun Life Assurance Company of Canada, (ii) Note B-2 to Sun
Life Insurance (Canada) Limited, and (iii) Note B-3 to Sun Life Hong Kong Limited, in each case pursuant to that certain Assignment and
Assumption Agreement, dated as of the date hereof, between MSMCH, as seller, and Sun Life Assurance Company of Canada, Sun Life Insurance
(Canada) Limited and Sun Life Hong Kong Limited, as purchasers;

WHEREAS, the Mortgage Loan
is currently being serviced under a certain servicing agreement, dated as of May 11, 2016 (as amended, supplemented or modified, the “Interim
Servicing Agreement”), between Morgan Stanley Mortgage Capital Holdings LLC and Wells Fargo Bank, National Association (the
“Interim Servicer”);

WHEREAS, from and after the
Note A Securitization Date, the Mortgage Loan will be serviced pursuant to the pooling and servicing agreement entered into in connection
with such Note A Securitization; and

WHEREAS, the Holders desire
to enter into this Agreement to memorialize the terms under which they, and their respective successors and assigns, shall hold the Notes;

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

1.                 
Definitions; Conflicts. References to a “Section” or the “recitals” are, unless otherwise specified,
to a Section or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall have the meanings ascribed thereto
in the Servicing Agreement. To the extent of any inconsistency between terms defined in this Agreement and the Servicing Agreement, this
Agreement shall control. Whenever used in this Agreement, the following terms shall have the respective meanings set forth below unless
the context clearly requires otherwise. In addition, for so long as the Note A Securitization Date has not occurred, any capitalized terms
defined herein by reference to the Lead Note A PSA or provisions referring to the operation of the Lead Note A PSA shall be disregarded
and have no effect, and this Agreement shall be interpreted without regard to such provisions.

“Additional Servicing
Compensation” shall mean any servicing compensation that a Servicer is entitled to retain under the Servicing Agreement, other
than Servicing Fees, Special Servicing Fees, Workout Fees and Liquidation Fees.

“Advance”
shall mean any advance of a Scheduled Payment by the Master Servicer, any Non-Lead Note Master Servicer, the Trustee or any Non-Lead Note
Trustee or any property advance or other similar servicing advance by any Servicer or Trustee under the Lead Note A PSA with respect to
any Note A, the Mortgage Loan or the Mortgaged Property.

“Advance Rate”
shall (a) prior to the Note A Securitization Date, and following the Note A Securitization Date, if Note A is no longer included in such
Securitization, mean 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 Servicer 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 Servicer in its reasonable discretion) as may be in effect from time to time, and (b)
on and after the Note A Securitization Date, and while any Note A is included in the related Note A Securitization, have the meaning assigned
to the term “Reimbursement Rate” in the Lead Note A PSA.

“Affiliate”
shall mean with respect to any specified Person, (a) any other Person controlling or controlled by or under common control with such specified
Person (each a “Common Control Party”), (b) any other Person owning, directly or indirectly, twenty-five percent (25%)
or more of the beneficial interests in such Person or (c) any other Person in which such Person or a Common Control Party owns, directly
or indirectly, twenty-five percent (25%) or more of the beneficial interests. 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, relation to individuals or otherwise, and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.

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

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

“Appraisal”
shall mean the most recent appraisal of the Mortgaged Property or REO Property, or update thereof, prepared by an Independent Appraiser,
in accordance with 12 C.F.R 225.64 and conducted in accordance with the standards of the Appraisal Institute.

“Appraisal Reduction”
shall: (x) prior to the Note A Securitization Date, and following the Note A Securitization Date, if Lead Note A is no longer included
in such Securitization, mean, subject to the delivery of Threshold Event Collateral, as of any date of determination, an amount equal
to the excess, if any, of (A) the sum of (i) the Mortgage Loan Principal Balance on such date, (ii) to the extent not previously advanced
by a Servicer, all accrued and unpaid interest (exclusive of any default rate interest) on the Mortgage Loan, (iii) without duplication
with respect to the items set forth in clauses (i) and (ii) above, all unreimbursed Advances (and unpaid interest thereon at the Advance
Rate) in respect of the Mortgage Loan and (iv) all currently due and unpaid real estate taxes and assessments, ground rents and insurance
premiums (net of escrow payments or other reserve funds or letters of credit held by a Servicer in respect of such amounts), over (B)
(i) the Appraised Value of the Mortgaged Property plus (ii) the amount of any escrows or reserves held by a Servicer (other than reserves
for real estate taxes, ground rents, assessments and insurance premiums then due and payable), letters of credit and other cash equivalents
which may, pursuant to the Mortgage Loan Documents, be used to pay down the principal balance of the Mortgage Loan, and minus (iii) the
amount of any monetary liens (other than liens for items described in clause (A)(iv) above) on the Mortgaged Property that are prior (and
not subordinate) to the lien of the related Mortgage and are not (1) insured over or bonded in accordance with the Mortgage Loan Documents
or (2) assumed in determining the Appraised Value of such Mortgaged Property, and (y) on and after the Note A Securitization Date, and
while any Note A is included in a Note A Securitization, have the meaning assigned to the term “Appraisal Reduction Amount”
in the Lead Note A PSA.

“Appraisal Reduction
Event” means (x) prior to the Note A Securitization Date, and following the Note A Securitization Date, if Lead Note A is no
longer included in such Securitization, 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 the
Mortgage Loan, (ii) the date on which a reduction in the amount of Scheduled Payments or a change in any other material economic term
of the Mortgage Loan (other than an extension of the Maturity Date) becomes effective as a result of a modification of the Mortgage Loan
the Special Servicer, (iii) thirty (30) days after the date on which a receiver has been appointed for the Mortgaged Property, (iv) thirty
(30) days after the date on which the Mortgage Loan Borrower declares bankruptcy (and the bankruptcy petition is not otherwise dismissed
within such time), (v) sixty (60) days after the date on which an involuntary petition of bankruptcy is filed with respect to the Mortgage
Loan Borrower if not dismissed within such time, (vi) ninety (90) days after an uncured delinquency occurs in respect of a balloon payment
with respect to the Mortgage Loan, except where a refinancing or sale is anticipated within one hundred twenty (120) days after the Maturity
Date of the Mortgage Loan, in which case one hundred twenty (120) days after such uncured delinquency, and (vii) immediately after the
Mortgage Loan becomes an REO Loan, and (y) on and after the Note A Securitization Date, and while any Note A is included in the a Note
A Securitization, have the meaning assigned to the term “Appraisal Reduction Event” in the Lead Note A PSA.

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“Appraised Value”
means, as of any date of determination, the appraised value of the Mortgaged Property based upon the most recent Appraisal prepared by
an Independent Appraiser that is contained in the related servicing file under the Servicing Agreement.

“Asset Representations
Reviewer” means the asset representations reviewer appointed as provided in the Lead Note A PSA and any successor appointed
as provided thereunder.

“Borrower Party”
(i) prior to the Note A Securitization Date, shall mean the Mortgage Loan Borrower, any property manager or any Affiliate of the foregoing,
and (ii) on and after the Note A Securitization Date, shall have the meaning assigned to the term “Borrower Party” (or other
analogous term) in the Lead Note A PSA; provided that in all cases, the Mortgage Loan Borrower shall be a “Borrower Party”.

“Business Day”
shall have the meaning assigned to such term (or other analogous term) in the Servicing Agreement or, if not defined therein, shall mean
any day other than a Saturday, Sunday or any other day on which national banks in New York, New York are not open for business.

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

“Certificate Administrator”
shall mean the certificate administrator under the Lead Note A PSA and any successor appointed as provided thereunder.

“Closing Date”
shall mean the date of this Agreement.

“Code”
shall mean the Internal Revenue Code of 1986, as amended, by applicable temporary or final regulations of the U.S. Department of Treasury
issued thereunder.

“Collection Account”
shall mean the “collection account” or similar account established under the Servicing Agreement for the purpose of servicing
the Mortgage Loan, including, with respect to amounts payable to the Note B Holders, the “whole loan custodial account” or
similar account (which may be a sub-account of the “collection account”).

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

A “Control Appraisal
Event” shall exist with respect to Note B, if and for so long as:

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(a) (1) the Note B Principal
Balance as of the Closing Date, together with any Threshold Event Collateral, minus (2) the sum of (i) any payments of
principal (whether as scheduled amortization, Prepayments or otherwise) allocated to and received on Note B-1, Note B-2 and Note B-3,
(ii) any Appraisal Reductions allocated to Note B-1, Note B-2 and Note B-3 and (iii) any Realized Principal Losses (without duplication
of any Appraisal Reductions),

is less than

(b) 25% of (i) the Note B
Principal Balance as of the Closing Date, minus (ii) any payments of principal (whether as scheduled amortization, Prepayments
or otherwise) allocated to and received on Note B-1, Note B-2 and Note B-3.

“Control Note”
shall have the meaning assigned to such term in Section 20(e) of this Agreement.

“Controlling Class”
shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.

“Controlling Holder”
shall have the meaning assigned to such term in Section 20(e) of this Agreement.

“Costs”
shall mean all out-of-pocket costs, fees, expenses, Advances, interest, payments, losses, liabilities, judgments and/or causes of action
reasonably suffered or incurred or reasonably paid by a Holder (or any Servicer, the Operating Advisor, the Trustee, the Certificate Administrator,
the Asset Representations Reviewer or the Trust) pursuant to or in connection with the enforcement and administration of the Mortgage
Loan, the Mortgage Loan Documents, the Mortgaged Property, this Agreement or otherwise in connection with the enforcement and administration
of the Mortgage Loan, including, without limitation, reasonable attorneys’ fees and disbursements, taxes, assessments, insurance
premiums and other protective advances as more particularly provided in the Mortgage Loan Documents, except for those resulting from the
negligence or willful misconduct of such Holder (or such Servicer, Operating Advisor, Trustee, Certificate Administrator or the Asset
Representations Reviewer); provided, that “Costs” shall exclude (i) the costs and expenses relating to the origination
of the Mortgage Loan or the closing of any Note A Securitization, (ii) the Servicing Fee, the Special Servicing Fee and any fees of the
Operating Advisor, Trustee, Certificate Administrator or Asset Representations Reviewer and (iii) the day-to-day customary and usual,
ordinary costs of servicing and administration of the Mortgage Loan.

“Cure Event”
shall have the meaning assigned to such term in Section 10(b) hereof.

“Cure Right”
shall have the meaning assigned to such term in Section 10(b) hereof.

“Custodial Agreement”
shall mean that certain custodial agreement, dated July 21, 2010, between Morgan Stanley Bank, as lender and Wells Fargo Bank, N.A., as
custodian.

“Custodian”
shall mean Wells Fargo Bank, N.A. and its successors in interest.

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

    	 	-6-	 

     

    

“Defaulted Mortgage
Loan” shall (x) prior to the Note A Securitization Date, mean the Mortgage Loan if any Event of Default exists with respect
to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or any non-monetary Event of Default exists that
continues for at least thirty (30) days and (y) on and after the Note A Securitization Date, have the meaning given to the term “Defaulted
Loan” (or other analogous term) in the Servicing Agreement.

“Depositor”
shall mean the depositor under the Lead Note A PSA.

“Directing Certificateholder”
shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.

“Eligibility Requirements”
means, with respect to any Person, that such Person (i)(A) has total assets (in name or under management and, in all cases, including
uncalled capital commitments) in excess of $650,000,000 and (B) except with respect to a pension advisory firm or similar fiduciary, has
capital/statutory surplus or shareholder’s equity (including uncalled capital commitments) of at least $250,000,000 or a market
capitalization of at least $400,000,000 and (ii) is regularly engaged in the business of making or owning commercial real estate
loans (or interests therein, including mezzanine loans with respect to commercial real estate) or owning or operating commercial real
estate properties (or interests therein).

“Event of Default”
shall have the meaning given to the term “Event of Default” (or other analogous term) as defined in the Loan Agreement.

“Final Recovery
Determination” shall mean a determination with respect to the Mortgage Loan by the Servicer, in its good faith discretion, consistent
with the Servicing Standard, that all insurance proceeds, condemnation proceeds, Liquidation Proceeds and other payments or recoveries
that the Servicer expects to be finally recoverable on the Mortgage Loan, without regard to any obligation of any Holder, Servicer or
Trustee, as the case may be, to make payments from its own funds, have been recovered.

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

“Holder”
shall mean the respective holder of a Note under this Agreement.

“Independent”
means a person who (i) does not have any direct financial interest or any material indirect financial interest, in any of the Holders,
the Servicer, the Mortgage Loan Borrower, any party to the Lead Note A PSA, while any Note A is included in such Securitization, or any
Affiliate thereof, (ii) is not connected with any of the foregoing as an officer, employee, trustee, partner, member, director or person
performing similar functions.

“Independent Appraiser”
means an Independent professional real estate appraiser who (i) is a member in good standing of the Appraisal Institute, (ii) if the state
in which the Mortgaged Property is located certifies or licenses appraisers, is certified or licensed in such state, and (iii) has a minimum
of five years’ experience in the subject property type and market.

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

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“Initial Note A
Holder” shall mean any of the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial
Note A-4 Holder, the Initial Note A-5 Holder, the Initial Note A-6 Holder, the Initial Note A-7 Holder, the Initial Note A-8 Holder or
the Initial Note A-9 Holder.

“Initial Note A-1
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-2
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-3
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-4
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-5
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-6
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-7
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-8
Holder” shall mean Morgan Stanley Bank.

“Initial Note A-9
Holder” shall mean Morgan Stanley Bank.

“Initial Note B
Holder” shall mean any of the Initial Note B-1 Holder, the Initial Note B-2 Holder or the Initial Note B-3 Holder.

“Initial Note B-1
Holder” shall mean Sun Life Assurance Company of Canada.

“Initial Note B-2
Holder” shall mean Sun Life Insurance (Canada) Limited.

“Initial Note B-3
Holder” shall mean Sun Life Hong Kong Limited.

“Interest Rate”
shall mean (i) with respect to any Note A, the Note A Interest Rate, and (ii) with respect to any Note B, the Note B Interest Rate.

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

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

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

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

“Lead Note A”
shall mean Note A-5.

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

    	 	-8-	 

     

    

“Lead Note A PSA”
shall mean the pooling and servicing agreement governing the securitization trust for the Lead Note A after the Note A Securitization
Date.

“Lead Securitization”
shall mean the securitization of Lead Note A.

“Lead Securitization
Trust” shall mean any securitization trust that includes the Lead Note A.

“Liquidation Fee”
shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.

“Liquidation Proceeds”
shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.

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

“Major Decision”
shall have the meaning given to such term (or other analogous term) in the Servicing Agreement or, if not defined therein, shall mean
any of the following actions:

(i)               
any proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property by deed in
lieu of foreclosure) of the ownership of the Mortgaged Property if the Mortgage Loan comes into and continues in default;

(ii)               
any amendment or modification, consent to a modification or waiver of a monetary term of the Mortgage Loan (other than Penalty
Charges, but including the timing of payments and acceptance of discounted payoffs) or material non-monetary term of the Mortgage Loan
or any extension of the Maturity Date thereof;

(iii)               
[Reserved];

(iv)               
following a default or an Event of Default with respect to the Mortgage Loan, any exercise of remedies, including any acceleration
thereof, application of reserve or escrow amounts to the outstanding balance of the Mortgage Loan or initiation of judicial, bankruptcy
or similar proceedings under the related Mortgage Loan Documents;

(v)               
any sale of the Mortgage Loan if it is a Defaulted Loan or REO Property for less than the sum of (A) the outstanding principal
balance of the Mortgage Loan, (B) accrued and unpaid interest (exclusive of default interest), (C) outstanding servicing advances plus
interest thereon at the Advance Rate, (D) unreimbursed Costs, (E) Special Servicing Fees, and (F) Liquidation Fees;

(vi)               
any determination to bring a Mortgaged Property or an REO Property into compliance with applicable environmental laws or to otherwise
address hazardous materials located at the Mortgaged Property or at an REO Property;

(vii)               
any release of collateral or any acceptance of substitute or additional collateral for the Mortgage Loan or any consent to either
of the foregoing, unless required

    	 	-9-	 

     

    

or permitted pursuant to the specific
terms of the related Mortgage Loan Documents and for which there is no material lender discretion;

(viii)               
any waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan or, if lender
consent is required, any consent to such waiver or consent to a transfer of the Mortgaged Property or interests (direct or indirect) in
the Mortgage Loan Borrower, other than any such transfer or incurrence of debt as may be effected without the consent of the lender under
the related Mortgage Loan Documents;

(ix)               
any incurrence of additional debt by the Mortgage Loan Borrower or of any mezzanine financing by any beneficial owner of the Mortgage
Loan Borrower (to the extent that the lender has consent rights pursuant to the related Mortgage Loan Documents (for purposes of the determination
whether a lender has such consent rights pursuant to the related Mortgage Loan Documents, any Mortgage Loan Document provision that requires
that an intercreditor agreement be reasonably or otherwise acceptable to the lender will constitute such consent rights));

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

(xi)               
any franchise changes or brand management changes (in either case with respect to the Mortgage Loan if the lender consent or approval
is required under the related Mortgage Loan Documents) or any material property management company changes, including approval of the
termination of a manager and appointment of a new property manager;

(xii)               
releases of any escrow accounts, Cash Trap Funds (as defined in the Loan Agreement), reserve accounts or letters of credit held
as performance escrows or reserves other than those required pursuant to the specific terms of the related Mortgage Loan Documents and
for which there is no material lender discretion;

(xiii)               
any requests for the funding or disbursement of “performance,” “earn-out,” holdback or similar escrows
and reserves (including those evidenced by letters of credit) regardless of whether such funding or disbursement may be characterized
as routine and/or customary and regardless of whether the Mortgage Loan has a primary servicer other than the Master Servicer;

(xiv)               
any acceptance of an assumption agreement or any other agreement permitting a transfer of direct or indirect interests in the Mortgage
Loan Borrower, guarantor or other obligor, or releasing the Mortgage Loan Borrower, guarantor or other obligor from liability under the
Mortgage Loan, or modifying the Mortgage Loan Borrower’s, guarantor’s or other obligor’s monetary liability under the
Mortgage Loan, other than pursuant to the specific terms thereof and for which there is no lender discretion;

(xv)               
any forbearance by the Servicer from taking any enforcement action with respect to (A) any failure by the Mortgage Loan Borrower
to maintain with respect to the

    	 	-10-	 

     

    

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
(B) any failure on the part of the Mortgage Loan Borrower to maintain with respect to the 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 origination
date;

(xvi)               
the determination of any use of proceeds of a hazard insurance claim to restore the Mortgaged Property if the amount of such proceeds
exceeds the restoration threshold (as provided in the Loan Agreement);

(xvii)               
the modification, waiver, amendment, execution, termination or renewal of any lease, to the extent lender approval is required
under the related Mortgage Loan Documents and if such lease (A) involves a ground lease, (B) is for a commercial lease, or (C) otherwise
constitutes a “major lease” or “material lease,” if applicable, under the related Mortgage Loan Documents, including
entering into any related subordination, non-disturbance and attornment agreement, subject to any deemed approval expressly set forth
in the related lease;

(xviii)               
any adoption or implementation of a budget submitted by the Mortgage Loan Borrower with respect to the Mortgage Loan (to the extent
lender approval is required under the related Mortgage Loan Documents);

(xix)               
the filing of any bankruptcy petition against the Mortgage Loan Borrower, any operating lessee, or any guarantor of the Mortgage
Loan or seeking the appointment of a receiver, conservator or trustee for the Mortgage Loan Borrower, any operating lessee, guarantor
or the Mortgaged Property, voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Mortgage Loan
Borrower, operating lessee or guarantor, or any adoption or approval of a plan in bankruptcy, reorganization, restructuring or similar
event in any bankruptcy or insolvency proceeding with respect to the Mortgage Loan Borrower, operating lessee, or guarantor or any other
party required to be an special purpose entity under the Mortgage Loan Documents;

(xx)               
the exercise of the rights and powers granted under this Agreement or any related mezzanine loan intercreditor agreement to the
Note A Holder, the “Senior Lender” or such other similar term as may be set forth in any such agreement, as applicable, and/or
the “Servicer” referred to therein, if and to the extent such rights or powers affect the priority, payments, consent rights,
or security interest with respect to the Note A Holder, the “Senior Lender” or such other similar term;

(xxi)               
consent or approval of (or denial of consent or approval of), to the extent lender approval or consent is required or requested
under any such lease, the Mortgage Loan Documents or otherwise, to any sale or encumbrance of any fee interest (whether or not owned by
the Mortgage Loan Borrower) encumbered by a ground lease or other lease to the Mortgage Loan Borrower;

    	 	-11-	 

     

    

(xxii)               
 any determination to exercise (or not exercise) any renewal option under any lease in circumstances in which lender has been granted
a right to exercise such renewal option;

(xxiii)               
any determination to exercise (or not exercise) any rights of lender pursuant to any “comfort letter” provided by a
franchisor in connection with the Mortgaged Property (including, without limitation, whether or not to assume or otherwise enter into
a franchise agreement with such franchisor pursuant to such comfort letter);

(xxiv)               
any proposed modification, amendment or waiver of any terms of any guarantees, letters of credit or rate cap or swap agreements;

(xxv)               
any extension or shortening of the Maturity Date of the Mortgage Loan or any Note, other than in accordance with the express provisions
of the Loan Agreement or such Note;

(xxvi)               
any renewal or replacement of the then existing insurance policies (to the extent that such renewal or replacement policy does
not comply with the terms of the Mortgage Loan);

(xxvii)               
approval of material alterations, capital expenditures or tenant improvement allowances unless required or permitted pursuant to
the specific terms of the related Mortgage Loan Documents and for which there is no material lender discretion; and

(xxviii)               
following a foreclosure of the Mortgage or acceptance of a deed in lieu of foreclosure, any approval of a recommended course of
action for the Mortgaged Property, any approval of a selling agent, and any approval of the sale price of the Mortgaged Property.

As used above, the terms
“material lender discretion” and “lender discretion” require mortgagee discretion in making the relevant decision
regarding the release of collateral or the acceptance of substitute or additional collateral, as applicable, and such decision need not
be based upon the satisfaction of specified objective conditions, the satisfactory delivery of certain factual evidence or opinions or
the satisfaction of any other specified objective criteria that is set forth in the related Mortgage Loan Documents.

“Majority Note Holder”
shall have the meaning to such term in Section 20(e) hereof.

“Master Servicer”
shall mean the master servicer under the Lead Note A PSA and any successor appointed as provided thereunder.

“Master Servicer
Remittance Date” shall have the meaning assigned to the term “Remittance Date” (or other analogous term) in the
Servicing Agreement.

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

    	 	-12-	 

     

    

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

“Morgan Stanley
Bank” shall have the meaning assigned to such term in the preamble.

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

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

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

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

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

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

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

“Mortgage Loan Schedule”
shall mean the Mortgage Loan Schedule attached as Exhibit A hereto.

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

“Net Interest Rate”
shall mean (i) with respect to any Note A, the Note A Interest Rate minus the Servicing Fee Rate, and (ii) with respect to any Note B,
the Note B Interest Rate minus the Servicing Fee Rate.

“Non-Control Note”
shall have the meaning assigned to such term in Section 20(e) of this Agreement.

“Non-Controlling
Holder” shall have the meaning assigned to such term in Section 20(e) hereof.

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

    	 	-13-	 

     

    

33(c) hereof shall be sufficient to evidence
that such providing Holder is not a Non-Exempt Person or liability for withholding.

“Non-Lead Note A”
shall mean any Note A other than Note A-5.

“Non-Lead Note A
Holder” shall mean any Note A Holder other than the Note A-5 Holder.

“Non-Lead Note A
PSA” shall mean, with respect to any securitization of a Non-Lead Note A (other than Note A-9), the pooling and servicing agreement
governing the related securitization trust.

“Non-Lead Note Master
Servicer” shall mean a master servicer under any Non-Lead Note A PSA and any successor appointed as provided thereunder.

“Non-Lead Note Special
Servicer” shall mean a special servicer under any Non-Lead Note A PSA and any successor appointed as provided thereunder.

“Non-Lead Note Trustee”
shall mean a trustee under any Non-Lead Note A PSA and any successor appointed as provided thereunder.

“Non-Lead Securitization
Trust” shall mean any securitization trust that includes a Non-Lead Note A (other than Note A-9).

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

“Note A Default
Interest Rate” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

“Note A Holder”
shall have the meaning assigned to such term in the preamble.

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

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

“Note A Holder Advance”
shall mean any monthly debt service payment advance or any property advance or other servicing advance by the Note A-1 Holder, the Note
A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder, the Note A-8 Holder
or the Note A-9 Holder (or, in each case, the applicable Servicer, Trustee, Non-Lead Note Master Servicer or Non-Lead Note Trustee on
its behalf), with respect to Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8, Note A-9, the Mortgage
Loan or the Mortgaged Property.

“Note A Interest
Rate” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

    	 	-14-	 

     

    

“Note A Percentage
Interest” shall mean, as of any date, the ratio of the Note A Principal Balance to the Mortgage Loan Principal Balance.

“Note A Principal
Balance” shall mean, at any time of determination, the Closing Date Note A Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A Holder and (ii) any reductions in such amount pursuant to Section 6.

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

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

“Note A-1 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-1 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-1 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-1 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-1 Holder and (ii) any reductions in such amount pursuant to Section
6.

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

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

“Note A-2 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-2 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-2 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-2 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-2 Holder and (ii) any reductions in such amount pursuant to Section
6.

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

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

“Note A-3 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-3 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-3 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-3 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-3 Holder and (ii) any reductions in such amount pursuant to Section
6.

    	 	-15-	 

     

    

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

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

“Note A-4 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-4 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-4 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-4 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-4 Holder and (ii) any reductions in such amount pursuant to Section
6.

“Note A-5”
shall have the meaning assigned to such term in the recitals.

“Note A-5 Holder”
shall have the meaning assigned to such term in the preamble.

“Note A-5 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-5 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-5 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-5 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-5 Holder and (ii) any reductions in such amount pursuant to Section
6.

“Note A-6”
shall have the meaning assigned to such term in the recitals.

“Note A-6 Holder”
shall have the meaning assigned to such term in the preamble.

“Note A-6 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-6 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-6 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-6 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-6 Holder and (ii) any reductions in such amount pursuant to Section
6.

“Note A-7”
shall have the meaning assigned to such term in the recitals.

“Note A-7 Holder”
shall have the meaning assigned to such term in the preamble.

“Note A-7 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-7 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-7 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-7 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments

    	 	-16-	 

     

    

of principal (including the principal portion
of any cure payment made by the Note B Holders pursuant to Section 10(b) hereof) thereon received by the Note A-7 Holder and (ii)
any reductions in such amount pursuant to Section 6.

“Note A-8”
shall have the meaning assigned to such term in the recitals.

“Note A-8 Holder”
shall have the meaning assigned to such term in the preamble.

“Note A-8 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-8 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-8 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-8 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-8 Holder and (ii) any reductions in such amount pursuant to Section
6.

“Note A-9”
shall have the meaning assigned to such term in the recitals.

“Note A-9 Holder”
shall have the meaning assigned to such term in the preamble.

“Note A-9 Percentage
Interest” shall mean, as of any date, the ratio of the Note A-9 Principal Balance to the Mortgage Loan Principal Balance.

“Note A-9 Principal
Balance” shall mean at any time of determination, the Closing Date Note A-9 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal (including the principal portion of any cure payment made by the Note B Holders pursuant
to Section 10(b) hereof) thereon received by the Note A-9 Holder and (ii) any reductions in such amount pursuant to Section
6.

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

“Note B Default
Interest Rate” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

“Note B Holder”
shall have the meaning assigned to such term in the preamble.

“Note B Holder Advance”
shall mean any monthly debt service payment advance or any property advance or other servicing advance by the Note B Holders with respect
to Note B, the Mortgage Loan or the Mortgaged Property (including, without limitation, any cure payment made by the Note B Holders
pursuant to Section 10(b) hereof).

“Note B Holder Purchase
Notice” shall have the meaning assigned to such term in Section 10(a) hereof.

“Note B Interest
Rate” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

    	 	-17-	 

     

    

“Note B Percentage
Interest” shall mean, as of any date, the ratio of the Note B Principal Balance to the Mortgage Loan Principal Balance.

“Note B Principal
Balance” shall mean at any time of determination, the sum of the Note B-1 Principal Balance, the Note B-2 Principal Balance
and the Note B-3 Principal Balance.

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

“Note B-1 Holder”
shall have the meaning assigned to such term in the preamble.

“Note B-1 Percentage
Interest” shall mean, as of any date, the ratio of the Note B-1 Principal Balance to the Mortgage Loan Principal Balance.

“Note B-1 Principal
Balance” shall mean at any time of determination, the Closing Date Note B-1 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal thereon received by the Note B-1 Holder and (ii) any reductions in such amount pursuant to
Section 6 hereof.

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

“Note B-2 Holder”
shall have the meaning assigned to such term in the preamble.

“Note B-2 Percentage
Interest” shall mean, as of any date, the ratio of the Note B-2 Principal Balance to the Mortgage Loan Principal Balance.

“Note B-2 Principal
Balance” shall mean at any time of determination, the Closing Date Note B-2 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal thereon received by the Note B-2 Holder and (ii) any reductions in such amount pursuant to
Section 6 hereof.

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

“Note B-3 Holder”
shall have the meaning assigned to such term in the preamble.

“Note B-3 Percentage
Interest” shall mean, as of any date, the ratio of the Note B-3 Principal Balance to the Mortgage Loan Principal Balance.

“Note B-3 Principal
Balance” shall mean at any time of determination, the Closing Date Note B-3 Principal Balance as set forth in the Mortgage Loan
Schedule, less (i) any payments of principal thereon received by the Note B-3 Holder and (ii) any reductions in such amount pursuant to
Section 6 hereof.

“Notes”
shall mean, collectively, Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8, Note A-9, Note B-1, Note B-2
and Note B-3.

“Operating Advisor”
shall mean the operating advisor under the Lead Note A PSA and any successor appointed as provided thereunder.

    	 	-18-	 

     

    

“Payment Date”
shall mean the “Monthly Payment Date” or “Payment Date” as such term (or other analogous term) is defined in the
Loan Agreement.

“Penalty Charges”
shall mean any amounts actually collected on the Mortgage Loan from the Mortgage Loan Borrower that represent late payment charges, other
than a Prepayment Premium or default interest.

“Percentage Interest”
shall mean (i) with respect to the Note A Holders, collectively, the Note A Percentage Interest, (ii) with respect to the Note A-1 Holder,
the Note A-1 Percentage Interest, (iii) with respect to the Note A-2 Holder, the Note A-2 Percentage Interest, (iv) with respect to the
Note A-3 Holder, the Note A-3 Percentage Interest, (v) with respect to the Note A-4 Holder, the Note A-4 Percentage Interest, (vi) with
respect to the Note A-5 Holder, the Note A-5 Percentage Interest, (vii) with respect to the Note A-6 Holder, the Note A-6 Percentage Interest,
(viii) with respect to the Note A-7 Holder, the Note A-7 Percentage Interest, (ix) with respect to the Note A-8 Holder, the Note A-8 Percentage
Interest, (x) with respect to the Note A-9 Holder, the Note A-9 Percentage Interest, (xi) with respect to the Note B Holders, collectively,
the Note B Percentage Interest, (xii) with respect to the Note B-1 Holder, the Note B-1 Percentage Interest, (xiii) with respect to the
Note B-2 Holder, the Note B-2 Percentage Interest and (xiv) with respect to the Note B-3 Holder, the Note B-3 Percentage Interest.

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i)(a) one of the entities listed on Exhibit B, or the successor-in-interest
thereto or a Person Controlling, Controlled by or under Common Control with, any such entity, or any other nationally-recognized manager
of investment funds investing in debt or equity interests relating to commercial real estate or (b) an entity that is otherwise a Qualified
Institutional Lender under clauses (a), (b), (c) or (d) of the definition thereof, (ii) investing through
a fund with committed capital of at least $1,000,000,000 and (iii) not subject to a proceeding or other action, whether voluntary or involuntary,
of any case arising under any existing or future law of any jurisdiction relating to bankruptcy, insolvency, reorganization or relief
of debtors.

“Person”
shall mean any individual, sole proprietorship, corporation, general partnership, limited partnership, limited liability company or partnership,
joint venture, association, joint stock company, bank, trust, estate unincorporated organization, any federal, state, county or municipal
government (or any agency or political subdivision thereof) endowment fund or any other form of entity.

“Pledge”
shall have the meaning assigned to such term in Section 17 hereof.

“Pledgee”
shall have the meaning assigned to such term in Section 17 hereof.

“Prepayment”
shall mean any payment of principal made by the Mortgage Loan Borrower with respect to the Mortgage Loan which is received in advance
of its scheduled Maturity Date, whether made by reason of a casualty or condemnation, due to the acceleration of the maturity of such
Mortgage Loan or otherwise.

“Prepayment Premium”
shall mean any prepayment premium, yield maintenance premium or similar fee required to be paid in connection with a Prepayment of the
Mortgage Loan or any Note, as applicable, in each case pursuant to the Mortgage Loan Documents.

    	 	-19-	 

     

    

“Principal Balance”
shall mean (i) with respect to the Note A Holders, collectively, the Note A Principal Balance, (ii) with respect to the Note A-1 Holder,
the Note A-1 Principal Balance, (iii) with respect to the Note A-2 Holder, the Note A-2 Principal Balance, (iv) with respect to the Note
A-3 Holder, the Note A-3 Principal Balance, (v) with respect to the Note A-4 Holder, the Note A-4 Principal Balance, (vi) with respect
to the Note A-5 Holder, the Note A-5 Principal Balance, (vii) with respect to the Note A-6 Holder, the Note A-6 Principal Balance, (viii)
with respect to the Note A-7 Holder, the Note A-7 Principal Balance, (ix) with respect to the Note A-8 Holder, the Note A-8 Principal
Balance, (x) with respect to the Note A-9 Holder, the Note A-9 Principal Balance, (xi) with respect to the Note B Holders, collectively,
the Note B Principal Balance, (xii) with respect to the Note B-1 Holder, the Note B-1 Principal Balance, (xiii) with respect to the Note
B-2 Holder, the Note B-2 Principal Balance and (xiv) with respect to the Note B-3 Holder, the Note B-3 Principal Balance.

“Pro Rata and Pari
Passu Basis” shall mean with respect to either (i) the Notes comprising Note A or (ii) the Notes comprising Note B, the allocation
of any particular payment, collection, cost, expense, liability or other amount between such Notes or such Note Holders, as the case may
be, without any priority of any such Note or any such Note Holder over another such Note or Note Holder, as the case may be, and in any
event such that each Note or Note Holder, as the case may be, is allocated its pro rata amount (calculated in proportion to the Principal
Balances of the Note, as applicable, relative to the Note A Principal Balance or Note B Principal Balance, as applicable) of such particular
payment, collection, cost, expense, liability or other amount.

“Purchase Option
Consummation Window” shall mean the time period between (1) the 5th Business Day after the date of the Note B Holder Purchase
Notice and (2) the 10th Business Day after the date of the Note B Holder Purchase Notice; provided, that if a Note B Holder Purchase
Notice has been timely given by the Note B-1 Holder, the end of the Purchase Option Consummation Window referenced in clause (2) shall
be extended:

(a) by an additional
(i) fifteen (15) days upon payment to the Servicer of a non-refundable (unless the Note A Holder defaults in its obligation or is unable
to transfer Note A) cash deposit in an amount equal to five percent (5.0%) of the Purchase Option Price, which cash deposit must be paid
prior to such extension; and

(b) by an additional
fifteen (15) days beyond the fifteen (15) day extension period described in clause (a) above upon payment to the Servicer of an additional
non-refundable (unless the Note A Holder defaults in its obligation or is unable to transfer Note A) cash deposit in an amount equal to
five percent (5.0%) of the Purchase Option Price, which cash deposit must be paid prior to such extension.

“Purchase Option
Cut-Off Date” shall mean the earliest date to occur of (1) the cure of the event or circumstance resulting in the Mortgage Loan
being a Defaulted Mortgage Loan, (2) the consummation of a foreclosure sale, sale by power of sale or delivery of a deed in lieu of foreclosure
with respect to the Mortgaged Property, except that if the Servicer intends to accept a deed in lieu of foreclosure, it shall notify the
Note B Holders, and the Note B Holders shall have the option, within thirty (30) days from the date of receipt of notice to such effect,
to cause the Note B-1 Holder to deliver a Note B Holder Purchase Notice to the Note A Holder and, provided that such notice has been delivered
within such time period, to consummate the purchase

    	 	-20-	 

     

    

within ten (10) Business Days after such
purchase notice is so delivered, and (3) the modification of the Mortgage Loan Documents effected in accordance herewith in consummation
of a workout of the Mortgage Loan and with the terms of the Servicing Agreement (and subject to the approval rights of the Controlling
Holder set forth herein and therein).

“Purchase Option
Notice” shall have the meaning assigned to such term in Section 10(a) hereof.

“Purchase Option
Price” shall mean, with respect to each Note A, the sum of the following, without duplication: (i) the Principal Balance
of such Note (as of the date of purchase), (ii) accrued and unpaid interest on the Principal Balance of such Note at the Interest
Rate applicable to such Note, up to (but excluding) the date of purchase (or, if such Note has been deposited into a Securitization, if
such date of purchase is not a Payment Date, up to (but excluding) the Payment Date next succeeding the date of purchase), provided payment
is made in good funds by 3:00 p.m. New York local time, (iii) any unreimbursed Note A Holder Advances made by or on behalf
of the Holder of such Note and interest thereon at the Advance Rate, (iv) any accrued and unpaid Servicing Fees, (v) any Special
Servicing Fees and Liquidation Fees (but excluding any such Liquidation Fees if such Note is purchased within 90 days of the purchasing
Holder’s receipt of the applicable Purchase Option Notice) and (vi) any unreimbursed Costs incurred by the Holder of such Note.
In determining the Purchase Option Price, amounts payable by the Mortgage Loan Borrower as a Prepayment Premium, default interest, Penalty
Charges and other similar fees and the value of such amounts shall not be included; provided, that such amounts shall be included
if the Person exercising the purchase option is a Borrower Party. Solely for purposes of this calculation, (A) the Liquidation Fee rate
shall not exceed one percent (1.0%) of any liquidation proceeds received on the Mortgage Loan; and (B) the special servicing fee shall
not exceed twenty-five basis points (0.25%) per annum of the outstanding principal balance of the Mortgage Loan, subject to a monthly
minimum fee not to exceed $5,000 as and to the extent set forth in the Lead Note A PSA.

“Qualified Conduit
Lender” shall mean, with respect to a Pledge by a Holder of its Note, a commercial paper conduit program (a “Conduit”)
as to which the following conditions are satisfied:

(a)               
the terms of the loan (a “Conduit Inventory Loan”) made by the Conduit to such Holder require the Conduit to
maintain a third party (“Conduit Credit Enhancer”) to provide credit enhancement;

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

(c)               
such Holder pledges its interest in such Note to the Conduit as collateral for the Conduit Inventory Loan; and

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

    	 	-21-	 

     

    

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

“Qualified Institutional
Lender” means (i) the Initial Note A Holders, (ii) the Initial Note B-1 Holder, (iii) the Initial Note B-2 Holder, (iv) the
Initial Note B-3 Holder, and (iv) any one or more of the following (other than a Borrower Party):

(a)               
a real estate investment trust, bank, savings and loan association, investment bank, insurance company, trust company, commercial
credit corporation, pension plan, pension fund or pension advisory firm, mutual fund, government entity or plan, provided that any such
Person referred to in this clause (a) satisfies the Eligibility Requirements;

(b)              
an investment company, money management firm or “qualified institutional buyer” within the meaning of Rule 144A
under the Securities Act of 1933, as amended, or an institutional “accredited investor” within the meaning of Regulation D
under the Securities Act of 1933, as amended, provided that any such Person referred to in this clause (b) satisfies the Eligibility
Requirements;

(c)               
an institution substantially similar to any of the foregoing entities described in clauses (a) or (b) of this
definition that satisfies the Eligibility Requirements;

(d)              
any entity Controlled by any of the entities described in clauses (a), (b) or (c) of this definition;

(e)               
a Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity that contemporaneously pledges its interest
in a Note to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation of mortgage pass-through certificates
backed by, or other securitization of, a Note (any such securitization, “CMBS”) or the creation of collateralized debt
obligations (“CDO”) secured by, or (C) a financing through an “owner trust” of a Note (any of the foregoing,
a “Securitization Vehicle”), provided that (1) one or more classes of securities issued by such Securitization Vehicle
is initially rated at least investment grade by each of the Rating Agencies that also assigned a rating to one or more classes of securities
issued in connection with the Securitization of Note A (if applicable); (2) the special servicer or manager of such Securitization
Vehicle is a Qualified Servicer and such Qualified Servicer is required to service and administer such Note in accordance with a servicing
standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a Securitization Vehicle that
is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CDO Asset
Manager that is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses (a), (b), (c)
or (d) of this definition;

(f)               
the Trustee, in connection with the transactions contemplated by the Lead Note A PSA, or Non-Lead Note Trustee under a Non-Lead
Note A PSA; or

    	 	-22-	 

     

    

(g)              
 an investment fund, limited liability company, limited partnership or general partnership where a Permitted Fund Manager acts
as the managing member, general partner or fund manager and at least 50% of the equity interests in such investment vehicle are owned,
directly or indirectly, by one or more entities that are otherwise Qualified Institutional Lenders under clauses (a), (b),
(c) or (d) of this definition.

“Qualified Servicer”
shall mean any nationally recognized commercial mortgage loan servicer (A) with respect to Fitch, that is rated at least “CMS3”
(in the case of a master servicer) or “CSS3” (in the case of a special servicer), by Fitch; (B) with respect to S&P, that
appears on the S&P Select Servicer List as a U.S. Commercial Mortgage Master Servicer, in the case of a master servicer, or the S&P
Select Servicer List as a U.S. Commercial Mortgage Special Servicer, in the case of a special servicer; (C) with respect to Moody’s,
(1) that confirms in writing that it was appointed to act as, and currently serves as, master servicer or special servicer, as applicable,
on a transaction-level basis on the closing date of a commercial mortgage loan securitization with respect to which Moody’s rated
one or more classes of certificates and one or more of such classes of certificates are still outstanding and rated by Moody’s,
and (2) as to which Moody’s has not cited servicing concerns with respect to such servicer as the sole or a material factor in any
qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade
or withdrawal) of securities rated by Moody’s in any other commercial mortgage-backed securities transaction serviced by such servicer
prior to the time of determination; (D) with respect to DBRS Morningstar, that is acting as master servicer or special servicer in a commercial
mortgage loan securitization that was rated by DBRS Morningstar within the twelve (12) month period prior to the date of determination,
and DBRS Morningstar has not qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes of commercial
mortgage securities citing servicing concerns with the servicer as the sole or material factor in such rating action; and (E) in the case
of KBRA, that (1) is acting as master servicer or special servicer, as applicable, in a commercial mortgage loan securitization that was
rated by KBRA within the twelve (12) month period prior to the date of determination that has not been downgraded or caused the withdrawal
of the then current rating on any class of commercial mortgage securities or placement of any class of commercial mortgage securities
on watch citing the continuation of such servicer, as master servicer or special servicer, as applicable, of such commercial mortgage
securities, as the sole or a material reason for such downgrade or withdrawal (or placement on watch) or (2) has not acted as master servicer
or special servicer, as applicable, in a commercial mortgage loan securitization that was rated by KBRA in such twelve (12) month period
but has received a Rating Agency Confirmation from KBRA.

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

“Rating Agencies”
shall mean S&P, Moody’s, Fitch, KBRA, DBRS Morningstar; provided, that at any time during which a Note A is an asset
of a Securitization, “Rating Agencies”

    	 	-23-	 

     

    

shall mean the rating agencies that from time
to time rate the securities issued in connection with such Securitization.

“Realized Principal
Loss” shall mean any reduction in the Mortgage Loan Principal Balance that does not result in an accompanying payment of principal
to any of the Holders, which may result from, but is not limited to, one of the following circumstances: (i) the cancellation or forgiveness
of any portion of the Mortgage Loan Principal Balance in connection with a bankruptcy or similar proceeding or a modification or amendment
of the Mortgage Loan granted by the Servicer pursuant to the terms of the Servicing Agreement and this Agreement; or (ii) a reduction
in the mortgage interest rate in connection with a bankruptcy or similar proceeding involving the Mortgage Loan Borrower or a modification
or amendment of the Mortgage Loan agreed to by the Servicer in accordance with the terms of the Servicing Agreement and this Agreement,
that as a result of the application of Section 6, results in the application of principal to pay interest to one or more Holders
(each such Realized Principal Loss described in this clause (ii) shall be deemed to have been incurred on the Payment Date for
each affected Scheduled Payment).

“Redirection Notice”
shall have the meaning assigned to such term in Section 17 hereof.

“REMIC”
shall mean a “real estate mortgage investment conduit” as defined in section 860D of the Code.

“REO Property”
shall mean the Mortgaged Property (or an interest therein) if acquired by the lender through foreclosure, deed-in-lieu of foreclosure,
abandonment or reclamation from bankruptcy in connection with a Defaulted Mortgage Loan or otherwise treated as foreclosure property under
the REMIC provisions of the Code.

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

“Scheduled Payment”
shall mean the monthly debt service payment of scheduled principal and/or interest (but excluding default interest) due and payable in
accordance with the terms of the Mortgage Loan Documents.

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

“Servicer”
shall mean (i) prior to the Note A Securitization Date, the Interim Servicer, (ii) on and after the Note A Securitization Date, (a) if
the Mortgage Loan is a non-Specially Serviced Mortgage Loan, the Master Servicer, and (b) if the Mortgage Loan is a Specially Serviced
Mortgage Loan, the Special Servicer (provided, that if the Lead Note A PSA allocates a specific function, right or obligation with respect
to the Mortgage Loan to the Master Servicer or Special Servicer, “Servicer” shall mean the party so designated) and (iii)
at any time the Mortgage Loan is not serviced pursuant to the Interim Servicing Agreement and no Note A is included in a Securitization,
the servicer approved pursuant to Section 2(b) hereof.

“Servicing Agreement”
shall mean (i) prior to the Note A Securitization Date, the Interim Servicing Agreement, and (ii) on and after the Note A Securitization
Date, the Lead Note

    	 	-24-	 

     

    

A PSA; provided, that after the Note
A Securitization Date, if no Note A is an asset of the Trust, or at any other time when the Mortgage Loan is not serviced pursuant to
the Interim Servicing Agreement and the Note A Securitization Date has not occurred, the term “Servicing Agreement” shall
mean the subsequent servicing agreement entered into pursuant to Section 2(b) of this Agreement.

“Servicing Fee”
(i) prior to the Note A Securitization Date, shall have the meaning assigned to the term “Servicing Fee” (or other analogous
term) in the Interim Servicing Agreement and (ii) on and after the Note A Securitization Date, shall have the meaning assigned to the
term “Servicing Fee” or other analogous term in the Lead Note A PSA.

“Servicing Fee Rate”
(i) prior to the Note A Securitization Date, shall mean the rate per annum at which the “Servicing Fee” (or other analogous
term) defined in the Interim Servicing Agreement accrues and (ii) on and after the Note A Securitization Date, shall have the meaning
assigned to the term “Servicing Fee Rate” (or other analogous term) in the Lead Note A PSA; provided, that in no event
shall the Servicing Fee Rate exceed one basis point (0.01%) per annum without the consent of the Controlling Holder.

“Servicing Standard”
shall mean the standard of care that is to be applied by the Servicer in servicing and administering the Mortgage Loan, the Mortgaged
Property and any REO Property, as set forth in the Servicing Agreement.

“Servicing Transfer
Event” means an event under the Lead Note A PSA that results in servicing of the Mortgage Loan being transferred from the Master
Servicer to the Special Servicer.

“Special Servicer”
shall mean the special servicer under the Lead Note A PSA and any successor appointed as provided thereunder and in accordance with the
terms of this Agreement.

“Special Servicing
Fee” shall have the meaning assigned to such term or other analogous term in the Lead Note A PSA; provided, that in no
event shall the Special Servicing Fee accrue at a rate that exceeds twenty-five basis points (0.25%) per annum (subject to a monthly minimum
fee not to exceed $5,000) without the consent of the Controlling Holder.

“Specially Serviced
Mortgage Loan” shall mean a mortgage loan serviced by the Special Servicer following a Servicing Transfer Event.

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

“Threshold Event
Collateral” shall have the meaning assigned to such term in Section 20(c) hereof.

“Threshold Event
Cure” shall have the meaning assigned to such term in Section 20(c) hereof.

    	 	-25-	 

     

    

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

“Triggering Event
of Default” shall mean (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due
under the Mortgage Loan or (ii) so long as any Note A is included in a Securitization (and only on and after the Note A Securitization
Date) any non-monetary Event of Default (other than any imminent Event of Default) resulting in the Mortgage Loan becoming a Specially
Serviced Mortgage Loan. A Triggering Event of Default shall not exist if the Note B Holders are exercising their cure rights in accordance
with Section 10 of this Agreement and the applicable cure period has not expired.

“Trust”
shall mean the trust established pursuant to the Lead Note A PSA.

“Trustee”
shall mean the trustee under the Lead Note A PSA and any successor appointed as provided thereunder.

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

“Workout Fee”
shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.

2.                 
Administration of the Mortgage Loan Generally.

(a)               
From and after the date hereof, administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement,
which Servicing Agreement shall not be amended or modified in any manner materially adverse to a Note B Holder or in any manner that adversely
affects such Holder’s rights under this Agreement or under the Mortgage Loan Documents without the prior written consent of such
Holder. The Lead Note A Holder shall have the right to appoint any Master Servicer in accordance with the terms of the Servicing Agreement.
The Note B Holders shall have the right from and after the date of this Agreement to appoint the Special Servicer with respect to the
Mortgage Loan in accordance with the terms of this Agreement.

(b)              
Following the Note A Securitization Date, if at any time Lead Note A ceases to be an asset of the Trust, the Lead Note A Holder
shall cause the Mortgage Loan to be serviced for the benefit of all Holders pursuant to a servicing agreement that has been agreed upon
by the Holders, and that is substantially similar to the servicing provisions of the Lead Note A PSA, and all references herein to the
“Servicing Agreement” shall mean such subsequent servicing agreement; provided, that until a replacement servicing
agreement has been entered into, the

    	 	-26-	 

     

    

Lead Note A Holder shall cause the Mortgage
Loan to be serviced for the benefit of all Holders pursuant to the provisions of the Lead Note A PSA as if such agreement were still in
full force and effect with respect to the Mortgage Loan; provided, further, that until a replacement servicing agreement
is in place, the actual servicing of the Mortgage Loan may be performed by any Qualified Servicer appointed by the Lead Note A Holder
and does not have to be performed by the servicers under the Lead Note A PSA; provided, further, that in no event shall
such subsequent servicing agreement differ from the Lead Note A PSA in a manner that is materially adverse to a Note B Holder without
the prior written consent of such Holder. Consent of the Note B Holders to any replacement Servicing Agreement proposed by the Lead Note
A Holder shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary contained herein (including
Sections 5 and 20(a) hereof), in accordance with the Servicing Agreement, the Servicer shall be required to service and
administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of each Holder (unless such
Holder is a Borrower Party), with a view to maximizing the realization for all such Holders as a collective whole (it being understood
that the interests of the Note B Holders are junior interests subject to the terms and conditions of this Agreement). Each Holder that
is not a Borrower Party shall be deemed a third party beneficiary of such provisions of the Servicing Agreement.

(c)               
The Note B Holders hereby irrevocably appoint the Depositor as such Holders’ attorney in fact to sign the Lead Note A PSA
on its behalf with respect to such provisions that relate to the servicing of the Mortgage Loan and Note B.

(d)              
The Holders acknowledge (x) that the Servicer is to comply with this Agreement and the Mortgage Loan Documents in the servicing
of the Mortgage Loan and (y) that the rights of the holder of the Mortgage Loan, and consequently those of the Holders, are subject to
the terms and provisions of the Mortgage Loan Documents and the laws applicable to the Mortgage Loan. The Holders further acknowledge
that this Agreement shall constitute an “Intercreditor Agreement” as such term (or other analogous term) is defined under
the Lead Note A PSA.

(e)               
Prior to the Note A Securitization Date, the Servicer shall be entitled to the Servicing Fee, and the engagement of Servicer for
any servicing duties customarily reserved for special servicers and the fees therefor, shall require the consent of all of the Holders.
From and after the Note A Securitization Date, (i) the applicable Servicer shall be entitled to the Servicing Fee, the Special Servicing
Fee, the Liquidation Fee and the Workout Fee, in each case at the times and in the amounts set forth in the Servicing Agreement, and (ii)
the Holders acknowledge that pursuant to the Servicing Agreement, a Servicer may be entitled to receive Additional Servicing Compensation,
and to the extent any such Additional Servicing Compensation is actually received by a Servicer in accordance with the Servicing Agreement,
such Servicer shall be entitled to retain the same.

(f)               
The parties hereto acknowledge that each Note A or interests therein may be included as assets of a REMIC, and any provision of
this Agreement to the contrary notwithstanding, for so long as any interest in a Note A remains an asset of a REMIC: (i) the Mortgage
Loan shall be administered such that it shall qualify at all times as (or as interests in) a “qualified mortgage” within the
meaning of Section 860G(a)(3) of the Code, (ii) any real

    	 	-27-	 

     

    

property (and related personal property)
acquired by or on behalf of the Holder of a Note A pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu
of foreclosure of the Mortgage or otherwise or lien on such property following a default on the Mortgage Loan shall be administered so
that the interest of each Holder therein shall at all times qualify as “foreclosure property” within the meaning of Section
860G(a)(8) of the Code, and (iii) no Holder may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent
from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Holders may have
under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the Mortgage Loan,
within the meaning of Treasury Regulation Section 1.860G-2(b), more than three (3) months after the earliest startup day of the REMIC
which includes a Note A (or any portion thereof) or would otherwise cause the REMIC to fail to qualify as a REMIC. The Holders agree that
the provisions of this paragraph shall be effected by compliance by each Note A Holder or its assignee with this Agreement, the Servicing
Agreement or any other servicing agreement that governs the administration of the Mortgage Loan or the Holders’ interest therein.

(g)              
With respect to each Non-Lead Note (other than Note A-9), the Holder thereof (including, but not limited to, any Non-Lead Securitization
Trust into which such Non-Lead Note A (other than Note A-9) is deposited) shall be required to, promptly following notice from the Master
Servicer, the Special Servicer or the Trustee, pay or reimburse the Lead Securitization for such Non-Lead Note A Holder’s pro rata
share (on a Pro Rata and Pari Passu Basis) of the portion allocated to Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note
A-7, Note A-8 and Note A-9 of any fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage
Loan as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Depositor or CREFC®, as
applicable, is entitled to be reimbursed pursuant to the Lead Note A PSA and any costs, fees and expenses related to obtaining any Rating
Agency Confirmation, to the extent amounts on deposit in the Collection Account are insufficient for reimbursement of such amounts. In
addition to the reimbursement obligations with respect to Advances (and Advance Interest) otherwise provided for in this Agreement, each
Non-Lead Note A Holder (other than the Note A-9 Holder) agrees to indemnify (as and to the same extent the Lead Securitization Trust is
required to indemnify each of the following parties pursuant to the terms of the Lead Note A PSA) each of the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee and the Depositor (and any director, officer, employee or agent of any of the foregoing,
to the extent such parties are identified as indemnified parties in the Lead Note A PSA) (the “Indemnified Parties”)
against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees
and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property under the Lead
Note A PSA (collectively, the “Indemnified Items”) to the extent of its pro rata share (on a Pro Rata and Pari Passu Basis)
of the portion allocated to Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9 of such Indemnified
Items, and to the extent amounts on deposit in the Collection Account are insufficient for reimbursement of such amounts, the related
Non-Lead Note A Holder shall be required to, promptly following notice from the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee, reimburse each of the applicable Indemnified Parties for such pro rata share (including, if the applicable
Non-Lead Note A has been included in a Non-Lead Securitization Trust, from general collections or any other amounts from the related Non-Lead
Securitization Trust).

    	 	-28-	 

     

    

(h)              
 If no Note A is included in a Securitization, the Lead Note A Holder shall act as administrative agent and/or collateral agent
for the Holders, to the extent an administrative agent or collateral agent, as applicable, is appointed pursuant to the Loan Agreement.

(i)                
With respect to any right or option granted hereunder to the Note B Holders or any group of Note B Holders, the exercise of such
right or option shall be effected hereunder by delivery of a written notice of such exercise from the Note B-1 Holder. Any notices or
directions entitled to be given hereunder by the Note B Holders or any group of Note B Holders must be evidenced by a written notice from
the Note B-1 Holder. The parties hereto and the parties to the Lead Note A PSA and any Non-Lead Note A PSA may conclusively rely upon
any such notice, absent manifest error. Any notices, information or materials required to be given to any Note B Holder hereunder shall
be given to the Note B-1 Holder on its behalf in accordance with Section 29.

3.                 
Subordination of Note B; Payments Prior to a Triggering Event of Default. Note B and the rights of the Note B Holders to
receive payments of principal, interest and other amounts in respect of Note B shall at all times be junior, subject and subordinate
to Note A and the rights of the Note A Holder to receive payments of principal, interest and other amounts in respect of Note A. Subject
to the application of Section 6, if no Triggering Event of Default shall have occurred and be continuing, then all amounts tendered
by the Mortgage Loan Borrower or otherwise available for payment on the Mortgage Loan (including, without limitation, payments received
in connection with any guaranty or indemnity agreement), whether received in the form of Scheduled Payments, Prepayments, balloon payments,
Liquidation Proceeds, Note B Holder Advances, Penalty Charges, cure payments, proceeds under title, hazard or other insurance policies
or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain (other than any amounts
for required reserves or escrows required by the Mortgage Loan Documents and proceeds, awards or settlements to be applied to the restoration
or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the Servicing Standard or the Mortgage
Loan Documents) shall be distributed by the Servicer (or, after the Note A Securitization Date, the Master Servicer) and applied in the
following order of priority, subject to any deduction, reimbursement, recovery or other payment required or permitted under this Agreement
with respect to the Mortgage Loan or the Mortgaged Property (and payments shall be made at such times as are set forth in the Servicing
Agreement), in each case to the extent of available funds:

(a)               
first, to the Lead Note A Holder (or a Servicer or the Trustee, as applicable), up to the amount of any unreimbursed Costs
paid by the Lead Note A Holder (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to the Mortgage Loan
pursuant to this Agreement or the Servicing Agreement, including, without limitation, unreimbursed Note A Holder Advances and interest
thereon at the applicable Advance Rate, to the extent such Costs and Note A Holder Advances and interest thereon are then payable
hereunder or under the Servicing Agreement;

(b)              
second, to the Servicer and any Special Servicer, the applicable accrued and unpaid Servicing Fee, Special Servicing Fee
and any Workout Fee, earned by them with respect to the Mortgage Loan under this Agreement or the Servicing Agreement;

    	 	-29-	 

     

    

(c)               
 third, pro rata, to each Holder, in an amount equal to the accrued and unpaid interest on its respective Principal
Balance at the Net Interest Rate applicable to such Note;

(d)              
fourth, pro rata, to the Holders in accordance with their respective initial Percentage Interests, any principal
payments received on the Mortgage Loan for the related interest accrual period, which amounts shall be applied in reduction of the Principal
Balance of the respective Notes;

(e)               
fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed
the amounts required to be applied in accordance with the foregoing clauses (a)-(d), first, to the Note A Holders, on a Pro Rata
and Pari Passu Basis, in an amount equal to the aggregate of unreimbursed Realized Principal Losses previously allocated to Note A in
accordance with the terms of Section 6 or Section 7, plus interest thereon at the Note A Net Interest Rate compounded
monthly from the date the related Realized Principal Loss was allocated to Note A, and second, to the Note B Holders, on a Pro
Rata and Pari Passu Basis, in an amount equal to the aggregate of unreimbursed Realized Principal Losses previously allocated to Note
B in accordance with the terms of Section 6 or Section 7, plus interest thereon at the Note B Net Interest Rate
compounded monthly from the date the related Realized Principal Loss was allocated to Note B;

(f)               
sixth, to the Note B Holders (or any Persons acting on their behalf), up to the amount of any unreimbursed Note B Holder
Advances made by the Note B Holders and any applicable interest thereon at the Advance Rate and unreimbursed Costs paid by such Note B
Holders (or any Persons acting on their behalf) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

(g)              
seventh, any interest accrued at the Mortgage Loan Default Rate on the Mortgage Loan Principal Balance to the extent such
default interest amount is (i) actually paid by the Mortgage Loan Borrower and (ii) in excess of interest accrued on the Mortgage Loan
Principal Balance at the Mortgage Interest Rate, (x) first, to the Note A Holders (subject to the allocation of such amount pursuant
to the terms of the Servicing Agreement), on a Pro Rata and Pari Passu Basis, in an amount calculated on the Note A Principal Balance
on such Payment Date prior to the application of funds contemplated in this Section 3 at the excess of (A) the Note A Default Interest
Rate over (B) the Note A Interest Rate, and (y) second, to the Note B Holders, on a Pro Rata and Pari Passu Basis, in an amount
calculated on the Note B Principal Balance on such Payment Date prior to the application of funds contemplated in this Section 3
at the excess of (A) the Note B Default Interest Rate over (B) the Note B Interest Rate;

(h)              
eighth, any Prepayment Premiums received on the Notes will be applied (a) first, to payment of the Prepayment Premiums due
on each Note A, on a Pro Rata and Pari Passu Basis according to the respective amounts due to them under the Loan Agreement; and (b) second,
to payment of Prepayment Premiums due on each Note B, on a Pro Rata and Pari Passu Basis according to the respective amounts due to them
under the Loan Agreement;

(i)                
ninth, pro rata, to the extent not payable to any Servicer as Additional Servicing Compensation, to each Holder,
its Percentage Interest (prior to the application of funds

    	 	-30-	 

     

    

contemplated in this Section 3)
of any extension fees, assumption fees and Penalty Charges, in each case, to the extent actually paid by the Mortgage Loan Borrower; and

(j)                
tenth, pro rata, to the Holders in accordance with their respective initial Percentage Interests, any excess amount
not otherwise applied pursuant to the foregoing clauses (a) through (i) of this Section 3.

4.                 
Payments Following a Triggering Event of Default. Subject to the application of Section 6, after the occurrence of
a Triggering Event of Default and for so long as such Triggering Event of Default is continuing, then all amounts tendered by the Mortgage
Loan Borrower or otherwise available for payment on the Mortgage Loan (including, without limitation, payments received in connection
with any guaranty or indemnity agreement), whether received in the form of Scheduled Payments, Prepayments, balloon payments, Liquidation
Proceeds, Note B Holder Advances, Penalty Charges, cure payments, proceeds under title, hazard or other insurance policies or awards or
settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain (other than any amounts for required
reserves or escrows required by the Mortgage Loan Documents and proceeds, awards or settlements to be applied to the restoration or repair
of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the Servicing Standard or the Mortgage Loan Documents)
shall be distributed by the Servicer (or, after the Note A Securitization Date, the Master Servicer) and applied in the following order
of priority, subject to any deduction, reimbursement, recovery or other payment required or permitted under this Agreement with respect
to the Mortgage Loan or the Mortgaged Property (and payments shall be made at such times as are set forth in the Servicing Agreement),
in each case to the extent of available funds:

(a)               
first, to the Lead Note A Holder (or a Servicer or the Trustee, as applicable), up to the amount of any unreimbursed Costs
paid by the Lead Note A Holder (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to the Mortgage Loan
pursuant to this Agreement or the Servicing Agreement, including, without limitation, unreimbursed Note A Holder Advances and interest
thereon at the applicable Advance Rate, to the extent such Costs and Note A Holder Advances and interest thereon are then payable hereunder
or under the Servicing Agreement;

(b)              
second, to the Servicer and any Special Servicer, the applicable accrued and unpaid Servicing Fee, Special Servicing Fee
and any Workout Fee, earned by them with respect to the Mortgage Loan under this Agreement or the Servicing Agreement;

(c)               
third, to the Note A Holders, on a Pro Rata and Pari Passu Basis, in an amount equal to their respective amounts of accrued
and unpaid interest on the Note A Principal Balance at the Note A Net Interest Rate with respect to its respective Note;

(d)              
fourth, to each Note A Holder, in an amount equal to the Note A Principal Balance, until such principal amount has been
paid in full with respect to its respective Note on a Pro Rata and Pari Passu Basis;

(e)               
fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed
the amounts required to be applied in

    	 	-31-	 

     

    

accordance with the foregoing clauses
(a)-(d), to the Note A Holders, on a Pro Rata and Pari Passu Basis, in an amount equal to the aggregate of unreimbursed Realized Principal
Losses previously allocated to the Note A Holders in accordance with the terms of Section 6 or Section 7, plus
interest thereon at the Note A Net Interest Rate compounded monthly from the date the related Realized Principal Loss was allocated to
Note A;

(f)               
sixth, to the Note B Holders (or any Persons acting on their behalf), up to the amount of any unreimbursed Note B Holder
Advances made by the Note B Holders and any applicable interest thereon at the Advance Rate and unreimbursed Costs paid by such Note B
Holders (or any Persons acting on their behalf) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

(g)              
seventh, to the Note B Holders, in an amount equal to the accrued and unpaid interest on the Note B Principal Balance at
the Note B Net Interest Rate;

(h)              
eighth, to the Note B Holders in an amount equal to the Note B Principal Balance, until such principal amount has been paid
in full;

(i)                
ninth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed
the amounts required to be applied in accordance with the foregoing clauses (a)-(h), to the Note B Holders, on a Pro Rata and Pari Passu
Basis, in an amount equal to the aggregate of unreimbursed Realized Principal Losses previously allocated to Note B in accordance with
the terms of Section 6 or Section 7, plus interest thereon at the Note B Net Interest Rate compounded monthly
from the date the related Realized Principal Loss was allocated to Note B;

(j)                
tenth, any interest accrued at the Mortgage Loan Default Rate on the Mortgage Loan Principal Balance to the extent such
default interest amount is (i) actually paid by the Mortgage Loan Borrower and (ii) in excess of interest accrued on the Mortgage Loan
Principal Balance at the Mortgage Interest Rate, (x) first, to Note A Holders (subject to the allocation of such amount pursuant
to the terms of the Servicing Agreement), on a Pro Rata and Pari Passu Basis, in an amount calculated on the applicable Note A Principal
Balances on such Payment Date prior to the application of funds contemplated in this Section 4 at the excess of (A) the Note A
Default Interest Rate over (B) the Note A Interest Rate, and (y) second, to the Note B Holders, on a Pro Rata and Pari Passu Basis,
in an amount calculated on the applicable Note B Principal Balances on such Payment Date prior to the application of funds contemplated
in this Section 4 at the excess of (A) the Note B Default Interest Rate over (B) the Note B Interest Rate;

(k)              
eleventh, any Prepayment Premiums received on the Notes will be applied (a) first, to payment of Prepayment Premiums due
on each Note A, on a Pro Rata and Pari Passu Basis according to the respective amounts due to them under the Loan Agreement; and (b) second,
to payment of Prepayment Premiums due on each Note B, on a Pro Rata and Pari Passu Basis according to the respective amounts due to them
under the Loan Agreement;

(l)                
twelfth, pro rata, to the extent not payable to any Servicer as Additional Servicing Compensation, to each Holder,
its Percentage Interest (prior to the application of funds

    	 	-32-	 

     

    

contemplated in this Section 4)
of any extension fees, assumption fees and Penalty Charges, in each case, to the extent actually paid by the Mortgage Loan Borrower; and

(m)            
thirteenth, pro rata, to the Holders in accordance with their respective initial Percentage Interests, any excess
amount not otherwise applied pursuant to the foregoing clauses (a) through (l) of this Section 4.

5.                 
Priority of Payments to Note Holders.

(a)               
As between Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9, each
such Note shall be of equal priority, and no portion of either such Note shall have priority or preference over any portion of the other
such Note or security therefor. All amounts allocable to Note A pursuant to Section 3 or Section 4, including any Appraisal
Reduction Amounts and Realized Principal Losses, shall be applied by the Servicer to Note A-1, Note A-2, Note A-3, Note A-4,
Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9 on a Pro Rata and Pari Passu Basis.

(b)              
As between Note B-1, Note B-2 and Note B-3, each such Note shall be of equal priority, and no portion of either such
Note shall have priority or preference over any portion of the other such Note or security therefor. All amounts allocable to Note B pursuant
to Section 3 or Section 4, including any Appraisal Reduction Amounts and Realized Principal Losses, shall be applied by
the Servicer to Note B-1, Note B-2 and Note B-3 on a Pro Rata and Pari Passu Basis.

(c)               
For clarification purposes, Penalty Charges paid on each Note A shall first, be used to reduce, on a pro rata basis,
the amounts payable on each Note A by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest
accrued on any Servicing Advances and reimbursement of any Servicing Advances in accordance with the terms of the Lead Note A PSA, second,
be used to reduce the respective amounts payable on each Note A by the amount necessary to pay the Master Servicer, Trustee, any Non-Lead
Note Master Servicer or any Non-Lead Note Trustee, as applicable, for any interest accrued on any advance of a Scheduled Payment made
with respect to such Note A by such party (if and as specified in the Lead Note A PSA or applicable Non-Lead Note A PSA, as applicable),
third, be used to reduce, on a pro rata basis, the amounts payable on each Note A by the amount necessary to pay additional
trust fund expenses under the Lead Note A PSA (including Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with
respect to the Mortgage Loan (as specified in the Lead Note A PSA) and finally, with respect to any remaining amount of Penalty
Charges, pro rata, to the Lead Note A (to be paid, (x) prior to the securitization of each such Note A, to the related Note A Holder
and (y) following the securitization of such Note A, to the Master Servicer and/or the Special Servicer as additional servicing compensation
as provided in the Lead Note A PSA) and to each Non-Lead Note A (other than Note A-9) (to be paid, (x) prior to the securitization of
such Non-Lead Note A, to the related Note A Holder and (y) following the securitization of such Non-Lead Note A, to the Master Servicer
and/or the Special Servicer as additional servicing compensation as provided in the Lead Note A PSA).

(d)              
Any Note A Holder that receives proceeds from the sale of the primary servicing rights with respect to the Note A shall remit to
the other Note A Holders, promptly

    	 	-33-	 

     

    

upon receipt thereof, such amounts as
are required such that each Note Holder receives its pro rata share of such proceeds on a Pro Rata and Pari Passu Basis. Any proceeds
received by any Note A Holder from the sale of master servicing rights with respect to its Note A shall be for its own account.

6.                 
Workout. Notwithstanding anything to the contrary contained herein, if the Servicer after obtaining the consent of the Controlling
Holder to the extent the same is required under this Agreement, in connection with a workout or proposed workout of the Mortgage Loan,
modifies the terms thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest Rate is reduced,
(iii) payments of interest or principal on the Mortgage Loan are waived, reduced or deferred, other than a deferral of the balloon payment
resulting solely from the extension of the Maturity Date of the Mortgage Loan pursuant to the terms of the Servicing Agreement or (iv)
any other adjustment is made to any of the payment terms of the Mortgage Loan, the full adverse economic effect of such modification,
waiver or amendment of amounts due on the Mortgage Loan shall be borne, first, by the Note B Holder (up to the Note B Principal
Balance, together with accrued interest thereon at the Note B Interest Rate and any other amounts due the Note B Holder, which amounts
shall be applied to Note B-1, Note B-2 and Note B-3 on a Pro Rata and Pari Passu Basis), and second, by the Note A Holders
on a Pro Rata and Pari Passu Basis (up to the Note A Principal Balance, together with accrued interest thereon at the Note A Interest
Rate and any other amounts due the Note A Holders), and all distributions pursuant to Section 3, Section 4 and Section
5 hereunder shall be made accordingly. The preceding statement shall not be construed to limit the rights or benefits of any Person
under Section 19 or Section 20 of this Agreement or the provisions of the Servicing Agreement, including the Servicer’s
obligation to act in accordance with the Servicing Standard. If the Mortgaged Property becomes an REO Property, (a) the Holders shall
have beneficial ownership of such REO Property notwithstanding the manner in which title may be taken under the Servicing Agreement, (b)
the Mortgage Loan shall be deemed to remain outstanding, with the same terms and conditions as in effect immediately prior to foreclosure
or the acceptance of a deed in lieu of foreclosure, for purposes of the relative rights of the Holders between each other under this Agreement
and the Servicing Agreement and (c) all revenues from and proceeds of such REO Property shall be allocated and distributed under Section
4 of this Agreement. In no event shall a purchase of Note A by the Note B Holders be construed as a workout for purposes of the
calculation of the Workout Fee, nor shall both a Liquidation Fee and a Workout Fee be payable to one or more Servicers, whether individually
or in the aggregate, with respect to the same proceeds or collections.

7.                 
Collection Accounts; Payment Procedure. Pursuant to the terms of the Servicing Agreement, the Note A Holder shall cause
the Servicer (and, after the Note A Securitization Date, the Master Servicer) to establish and maintain the Collection Account or Collection
Accounts, as applicable. Each Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3,
Section 4 or Section 5 hereof, as applicable, and subject to the terms of the Servicing Agreement and this Agreement (which
shall control to the extent set forth herein in the event of any conflict between the Servicing Agreement and this Agreement), (i) to
deposit into the applicable Collection Account within one Business Day of receipt of properly identified funds all payments received with
respect to the Mortgage Loan (provided, that to the extent that any payment is received after 2:00 p.m. (Eastern time) on any given Business
Day, the Master Servicer is required to use commercially reasonable efforts to deposit such payments into the Collection Account within
one (1) Business Day of receipt of such payments but, in any event,

    	 	-34-	 

     

    

the Master Servicer is required to deposit
such payments into the applicable Collection Account within two (2) Business Days of receipt of such payments) and (ii) to remit from
the applicable Collection Account for deposit or credit on each Master Servicer Remittance Date all payments of any kind received with
respect to and allocable to each Note, by wire transfer to accounts maintained by each Holder and designated to the Servicer in writing.
Amounts on deposit in the Collection Account shall be applied at the times and for the purposes specified in the Servicing Agreement.
If the Servicer holding or having distributed any amount received or collected in respect of such Note determines, or a court of competent
jurisdiction orders, at any time that any amount received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy,
fraudulent conveyance, preference or similar law, be returned to the Mortgage Loan Borrower or paid to another Holder, the Servicer or
any other Person, then, notwithstanding any other provision of this Agreement, the Servicer shall not be required to distribute any portion
thereof to the Holder of such Note, and such Holder, as applicable, shall promptly on demand repay to the Servicer the portion thereof
which shall have been theretofore distributed to such Holder together with interest thereon at such rate, if any, as the Servicer shall
have been required to pay to the Mortgage Loan Borrower, another Holder, the Servicer or such other Person with respect thereto, or, if
the amount in question had been advanced by the Servicer, then with interest thereon at the Advance Rate. Each Holder agrees that if at
any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share
thereof, it shall promptly remit such excess to the Servicer. The Servicer shall have the right to offset any amounts due hereunder from
a Holder, as applicable, with respect to the Mortgage Loan against any future payments due to such Holder under the Mortgage Loan, provided,
that the obligations of each Holder under this Section 7 are separate and distinct obligations from one another and in no event
shall the Servicer enforce the obligations of one Holder against another Holder. The obligations of each Holder under this Section
7 constitute absolute, unconditional and continuing obligations and the Servicer shall be deemed a third party beneficiary of these
provisions.

The Servicer shall distribute
(or cause to be distributed) to the Holders all payments due to the Holders in accordance with Section 3, Section 4 and
Section 5 hereof; provided, that prior to calculating any amount of interest or principal due on such date to the Holders,
the Servicer shall reduce the Note B Principal Balance (not below zero) by any Realized Principal Loss with respect to the Mortgage Loan
(which such amount shall be applied to reduce the Note B-1 Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal
Balance on a Pro Rata and Pari Passu Basis), and after the Note B Principal Balance has been reduced to zero, the Servicer shall reduce
the Note A Principal Balance (not below zero) by any Realized Principal Loss with respect to the Mortgage Loan.

8.                 
Advances.

(a)               
The parties acknowledge that the Master Servicer, the Special Servicer and/or the Trustee may make (and in certain circumstances,
shall be required to make) Advances under the Lead Note A PSA, in which case interest may accrue on such Advances at the Advance Rate.
The right of the Master Servicer, the Special Servicer and the Trustee to reimbursement for such Advances and interest accrued thereon
is prior to the rights of the Holders to receive any distributions or amounts recovered with respect to the Mortgage Loan or the Mortgaged
Property to the extent provided in this Agreement and the Lead Note A PSA.

    	 	-35-	 

     

    

(b)              
 Unless otherwise agreed between the parties hereto, no Note B Holder shall be entitled to any Note A Holder Advance made in respect
of all or any portion of the debt service due on the Mortgage Loan.

(c)               
Notwithstanding any other provisions contained herein or in the Servicing Agreement to the contrary, no Note B Holder shall be
required to reimburse the Note A Holder or any other Person for a payment of any REMIC or grantor trust taxes or Advances therefor
or interest accrued thereon at the Advance Rate or for deficits in other items of disbursement or income resulting from the use of funds
for payment of REMIC or grantor trust taxes (other than such Holder’s pro rata share (based on its Percentage Interest)
of taxes imposed in connection with the grantor trust created pursuant to this Agreement)), nor shall any disbursement or payment otherwise
distributable to a Note B Holder be reduced to offset or make up any such payment or deficit or any fees payable to the Trustee or the
Certificate Administrator under the Servicing Agreement.

9.                 
Limitation on Liability. Subject to Section 20(e) hereof and the terms of the Servicing Agreement, no Holder shall
have any liability to any other Holder with respect to such other Holder’s Note, except with respect to losses actually suffered
due to the bad faith, gross negligence, willful misconduct or breach of this Agreement on the part of such Holder; provided, that
nothing herein shall be deemed to contravene any provisions relating to liability of the Servicer or the Trustee under the Servicing Agreement.
No Holder shall have any fiduciary responsibilities to any other Holder.

10.             
Note Purchase Option; Cure Rights

(a)                      
If the Mortgage Loan becomes and remains a Defaulted Mortgage Loan, upon written notice from the Lead Note A Holder (a “Purchase
Option Notice”) of such occurrence (which Purchase Option Notice the Servicer shall give to the Note B Holders), the Note
B Holders shall have the right, subject to the last sentence of this Section 10(a), by written notice to the Lead Note A Holder
(a “Note B Holder Purchase Notice”), given prior to the Purchase Option Cut-Off Date and delivered in accordance with
Section 2(i), to purchase Note A at the related Purchase Option Price.

In the case of an exercise
of the purchase option by the Note B Holders, upon the delivery of the Note B Holder Purchase Notice to the Lead Note A Holder, the Note
A Holders shall sell (and the Note B Holders shall purchase) Note A (without recourse or warranty, except that each such selling
Holder shall represent and warrant that it owns 100% of the economic and beneficial interests in its respective Note free and clear of
liens, encumbrances and any participations therein) at the related Purchase Option Price on a date within the Purchase Option Consummation
Window mutually designated by the Note B Holders and such selling Holder. The Note B Holders shall also pay all reasonable out-of-pocket
costs and expenses of the Lead Note A Holder (and any Servicer or Trustee on its behalf) in connection with such purchase.

The applicable Purchase
Option Price shall be calculated by the Servicer three (3) Business Days prior to the date upon which a Holder is to consummate the purchase
described above (and such calculation shall be accompanied by reasonably detailed back-up documentation explaining how such price was
determined) and shall, absent manifest error, be binding upon each Holder.

    	 	-36-	 

     

    

The right of the Note B
Holders to exercise the purchase option hereunder shall automatically terminate upon the related Purchase Option Cut-Off Date, subject
to the possibility that such right will be reinstated after the occurrence of the events described in clauses (1) or (3)
in the definition of “Purchase Option Cut-Off Date” if another event which causes the Mortgage Loan to become a Defaulted
Mortgage Loan subsequently occurs. Upon the consummation of a sale pursuant to the purchase option contemplated by this Section 10(a),
the Note A Holders (or the Servicer or Trustee on their behalf) shall deliver all original Mortgage Loan Documents and other applicable
materials in its possession to the Note B-1 Holder on behalf of the Note B Holders. Notwithstanding the foregoing, if a Borrower Party
holds any interest in Note B, the purchase option set forth in this Section 10(a) shall be exercisable by the remainder, if
any, of the interest in Note B that is not so held.

(b)                     
The Note B Holders (other than any such Holder that is a Borrower Party) shall have the right (but not the obligation) to
cure an Event of Default; provided, that if such Holders elect to cure any Event of Default, the Event of Default must be cured,
in the case of a monetary Event of Default, within ten (10) Business Days of the later to occur of the expiration of the Mortgage Loan
Borrower’s cure period, if any, and receipt of the first notice of such Event of Default, and in the case of a non-monetary Event
of Default, thirty (30) days following the later to occur of the expiration of the Mortgage Loan Borrower’s cure period, if any,
and receipt of the first notice of such Event of Default; provided if such non-monetary Event of Default is susceptible of cure
but cannot reasonably be cured within such period and if curative action was promptly commenced and is being diligently pursued by the
Note B Holders electing to cure such Event of Default as described above, such Note B Holders shall be given an additional period of time
as reasonably necessary to enable such Note B Holders in the exercise of due diligence to cure such non-monetary Event of Default for
so long as (i) such Note B Holders diligently and expeditiously proceed to cure such non-monetary Event of Default, (ii) such Note B Holders
make all cure payments, if any, that the Note B Holders are permitted to make in accordance with the terms and provisions of this clause
(b) (exclusive of any default interest, late fees and/or late charges), (iii) such additional period of time does not exceed ninety (90)
days, (iv) such non-monetary Event of Default is not caused by an insolvency proceeding of the Mortgage Loan Borrower, operating lessee
or any other obligor under the Loan Agreement and an insolvency proceeding of the Mortgage Loan Borrower, operating lessee or any other
obligor under the Loan Agreement does not occur during such cure period and (v) there is no material impairment to the value, use or operation
of the Mortgaged Property taken as a whole, or the value of the Mortgage Loan, as reasonably determined by Servicer in good faith as a
result of such non-monetary default or the attempted cure (each such cure right, a “Cure Right” and the exercise of
such right, a “Cure Event”); provided the right to cure such Event of Default shall be limited as follows: (i)
there shall not be more than twelve Cure Events over the life of the Mortgage Loan, (ii) there shall not be more than six consecutive
Cure Events and (iii) there shall not be more than six Cure Events, whether or not consecutive, in any 12-month period. For purposes
of the foregoing, an individual Cure Event shall, in the event of a delinquent Scheduled Payment, terminate on the date that such payment
is made unless any Note A has been securitized, in which case it shall terminate on the next Payment Date. If the applicable Note B Holders
elect to exercise a Cure Right, such Note B Holders shall make the applicable cure payment as directed by the Note A Holders (or
the Servicer on their behalf), and each such cure payment shall include all Costs, expenses, losses, liabilities, obligations, damages,
penalties, and disbursements imposed on, incurred by or asserted against the Note A Holders (including, without limitation, all unreimbursed
Advances (without regard to

    	 	-37-	 

     

    

whether such Advance would be a non-recoverable
advance) and any interest charged thereon at the Advance Rate, and any unpaid Special Servicing Fees with respect to the Mortgage Loan)
related to the Event of Default and incurred during the period of time from such Event of Default until such cure payment is made. The
right of the Note B Holders to reimbursement of any cure payment shall be as set forth in Section 3 and Section 4, as applicable.
So long as an Event of Default exists that is being cured by the Note B Holders pursuant to this Section 10(b) and the cure period
has not expired and the Note B Holders are permitted to cure under the terms of this Section 10(b), the Note A Holders, the Servicer
and the Trustee shall not treat such default as a default or a Triggering Event of Default for purposes of (i) accelerating the Mortgage
Loan, (ii) modifying, amending or waiving any provisions of the Mortgage Loan Documents, (iii) commencing proceedings for foreclosure
or the taking of title by deed-in-lieu of foreclosure or other similar legal proceedings with respect to the Mortgaged Property, (iv)
treating the Mortgage Loan as a Specially Serviced Mortgage Loan or (v) Section 3 or Section 4 hereof; provided,
that such limitations shall not prevent the Note A Holders, the Servicer or the Trustee from sending notices of the default to the Mortgage
Loan Borrower or any related guarantor or making demands on the Mortgage Loan Borrower or any related guarantor or from collecting default
interest or late payment charges from the Mortgage Loan Borrower. Additional Cure Events shall only be permitted with the consent of each
Holder.

11.             
Additional Understanding. For as long as the Mortgage Loan remains outstanding:

(a)               
Financial Statements Etc. Promptly upon receipt thereof, the Servicer shall provide each Holder copies of each financial
statement and any other reports or notices delivered to the Servicer pursuant to the terms of the Mortgage Loan Documents. Subject to
the terms of the Mortgage Loan Documents, promptly upon receipt thereof, so long as such Holder is not a Borrower Party, the Servicer
shall also deliver to such Holder copies of any other documents relating to the Mortgage Loan (to the extent in the Servicer’s possession),
including, without limitation, all written notices, property inspection reports and loan servicing statements. Upon the request of the
Controlling Holder, the Note A Holders (or the Servicer acting on their behalf) shall request additional financial reporting and other
items as may be requested pursuant to the Mortgage Loan Documents and promptly deliver the same to the Controlling Holder upon its receipt
of the same from the Mortgage Borrower.

(b)              
Copies. Any copies of financial statements, reports or statements to be furnished by a Servicer under this Agreement may
be furnished by hard copy or electronic means.

12.             
Representations. Each Initial Note A Holder and each Initial Note B Holder hereby represents and warrants as of the date
hereof that:

(a)               
Such Holder is duly organized, validly existing and in good standing as a legal entity under the laws of its jurisdiction of organization;

(b)              
The execution and delivery of this Agreement by such Holder, and the performance of, and compliance with, the terms of this Agreement
by such Holder, will not violate its organizational documents or constitute a default (or an event which, with notice or

    	 	-38-	 

     

    

lapse of time, or both, would constitute
a default) under, or result in the breach of, any material agreement or other instrument to which it is a party or that is applicable
to it or any of its assets, in each case which materially and adversely affects its ability to carry out the transactions contemplated
by this Agreement;

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

(d)              
This Agreement is its legal, valid and binding obligation, enforceable against such Holder in accordance with its terms, except
as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws
relating to or affecting the enforcement of creditors’ rights or by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law);

(e)               
Such Holder has the right to enter into this Agreement without the consent of any third party;

(f)               
Such Holder is holding its Note for its own account in the ordinary course of its business;

(g)              
Such Holder has not dealt with any broker, investment banker, agent or other person that is entitled to any commission or compensation
in connection with the execution and delivery of this Agreement; and

(h)              
Such Holder is a Qualified Institutional Lender.

13.             
Independent Analyses of the Note B Holders. Each Initial Note B Holder acknowledges that it has, independently and without
reliance upon any Note A Holder and based on such documents and information as such Holder has deemed appropriate, made its own credit
analysis and decision to purchase its Note. Each Note B Holder hereby acknowledges that the Note A Holders have not made any representations
or warranties with respect to the Mortgage Loan and that the Note A Holders shall have no responsibility for (i) the collectability of
the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan Documents or the title insurance policy
or policies or any survey furnished or to be furnished in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency
or effectiveness of the lien created or to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Mortgage
Loan Borrower. Each Note B Holder assumes all risk of loss in connection with Note B (and Note B-1, Note B-2 and Note B-3, as applicable)
for reasons other than gross negligence, willful misconduct or breach of this Agreement by the Note A Holders or Agent or the or negligence,
willful misconduct or bad faith or breach of the Servicing Agreement by the Servicer or the Trustee.

14.             
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto shall be deemed to constitute the Agent, the Note A-5 Holder (or the Servicer or Trustee on its behalf), any Non-Lead Note A Holder
(nor any Non-Lead Note Master Servicer, Non-Lead Note Special Servicer or Non-Lead Note

    	 	-39-	 

     

    

Trustee on its behalf) and the Note B Holders
as a partnership, association, joint venture or other entity. None of the Holders (nor any Servicer, Trustee, Non-Lead Note Master Servicer,
Non-Lead Note Special Servicer or Non-Lead Note Trustee on behalf of a Note A Holder) shall have any obligation whatsoever to offer to
any other party the opportunity to purchase notes or interests relating to any future loans originated by either party or their respective
Affiliates, and if any such party chooses to offer to another party the opportunity to purchase notes or interests in any future mortgage
loans originated by it or its Affiliates, such offer shall be at such purchase price and interest rate as the applicable party chooses
in its sole and absolute discretion. No Holder shall have any obligation whatsoever to purchase from another Holder any notes or interests
in any future loans originated by another Holder or any of its Affiliates.

15.             
Not a Security. None of the Notes shall be deemed to be a security within the meaning of the Securities Act of 1933 or the
Securities Exchange Act of 1934.

16.             
Transfer of Notes.

(a)               
Each Holder may Transfer 49% or less in the aggregate (in one or more transactions) of its beneficial interest in its Note, whether
or not the related transferee is a Qualified Institutional Lender without the consent or approval of any other Holder, the Servicer or
any other Person, provided that any such Transfer shall be made in accordance with the conditions in the second succeeding sentence below.
No Holder shall Transfer more than 49% (in one or more transactions) of its beneficial interest in its Note, unless (i)(i) each
other Holder has consented (which consent shall not be unreasonably withheld, conditioned, or delayed) to such Transfer (and the transferring
Holder shall have paid all reasonable out-of-pocket costs and expenses of each non-transferring Holder in connection with obtaining any
such consent), in which case the related transferee shall thereafter be deemed to be a “Qualified Institutional Lender” for
all purposes under this Agreement, or (ii)(ii) such Transfer is to a Qualified Institutional Lender, provided any
such Transfer made pursuant to clauses (i) or (ii) of this sentence shall be made in accordance with the conditions in the next sentence
of this Section 16(a). Each Holder agrees that each Transfer to be made by it under clauses (a) or (b) of this Section
16 is subject to the following conditions: (i) all such Transfers shall be made upon at least three (3) Business Days’ prior
written notice to each other Holder, (ii) a transferee of any interest in such Note shall (x) execute an assignment and assumption agreement
whereby such transferee assumes all or a ratable portion, as the case may be, of the obligations of the transferring Holder hereunder
with respect to the transferred Note from and after the date of such assignment (or, in the case of a pledge, collateral assignment or
other encumbrance by the transferring Holder of its Note solely as security for a loan to such transferring Holder, made by a third-party
lender whereby the transferring Holder remains fully liable under this Agreement, such third party lender executes an agreement that such
lender shall be bound by the terms and provisions of this Agreement and the obligations of the transferring Holder hereunder on and after
the date on which such lender succeeds to the rights of the transferring Holder hereunder by foreclosure or otherwise) and (y) agree in
writing to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in effect with respect to the Mortgage Loan,
in which event the parties will enter into or agree to be bound by any replacement servicing agreement therefor in accordance with the
provisions of Section 2 and (iii) the proposed transferee remakes each of the representations and warranties contained herein for
the benefit of each other Holder (other than the representation that the transferee is a Qualified Institutional Lender for transfers
made pursuant to subsection

    	 	-40-	 

     

    

(i) of the second sentence of this Section
16(a)). Notwithstanding anything to the contrary contained herein, no Holder shall in any event Transfer all or any portion of its
Note to a Borrower Party unless the other Holder has consented to such Transfer, and any such Transfer without having obtained such prior
consent shall be void ab initio. Upon the consummation of a Transfer of all or any portion of a Note, the transferring Person shall
be released from all liability arising under this Agreement with respect to such Note (or the portion thereof that was the subject of
such Transfer), for the period after the effective date of such Transfer (it being understood and agreed that the foregoing release shall
not apply in the case of a sale, assignment, transfer or other disposition of a participation interest in a Note as described in clause
(b) below).

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

17.             
Pledge. Notwithstanding anything to the contrary contained herein, a Holder may pledge, transfer, collaterally assign or
otherwise encumber (a “Pledge”) its Note or any interest therein to any entity (other than any Borrower Party) which
has extended a credit facility to such Holder and that is (i) a Qualified Institutional Lender, (ii) a financial institution whose long-term
unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency or (iii) a Qualified Conduit Lender
(each such entity, a “Pledgee”), on terms and conditions set forth in this Section 17, it being further
agreed that a financing provided by a Pledgee to such pledging Holder or any person that Controls such Holder that is secured by such
Holder’s interest in its Note and is structured as a repurchase arrangement, shall constitute a “Pledge” hereunder;
provided all applicable terms and conditions of this Section 17 are complied with; provided, further, that a Pledgee
of Note B-1, Note B-2 or Note B-3 that is not a Qualified Institutional Lender may not take title to the related Note after the Note A
Securitization Date without the prior written consent of the Note A Holders; provided, further, that no Pledgee may take
title to a Note without satisfying the requirements for transfer set forth in Section 16 and this Section 17. Upon written
notice by the pledging Holder to the non-pledging Holders and the Servicer that a Pledge has been effected (including the name and address
of the applicable Pledgee), the Servicer shall agree: (i) to give the Pledgee written notice of any default by the pledging Holder
in respect of its obligations under this Agreement of which default the Servicer has actual knowledge and which notice shall be given
simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Pledgee a period of ten (10) days to cure
a default by the pledging Holder in respect of its obligations to the non-pledging Holders hereunder, but such Pledgee shall not be obligated
to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement or the Servicing Agreement,
if the pledging Holder had the right to consent to such amendment, modification, waiver or termination pursuant to the terms hereof or
the Servicing

    	 	-41-	 

     

    

Agreement, as applicable, shall be effective
against such Pledgee without the written consent of such Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed
and which consent shall be deemed to be given if Pledgee shall fail to respond to any request for consent to any such amendment, modification,
waiver or termination within 10 days after request therefor; (iv) that the Servicer shall give to such Pledgee copies of any notice
of default under the Mortgage Loan simultaneously with the giving of same to the pledging Holder and accept any cure thereof by such Pledgee
which such pledging Holder has the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Holder;
(v) that the Servicer shall deliver to Pledgee such estoppel certificate(s) as Pledgee shall reasonably request, provided
that any such certificate(s) shall be in a form reasonably satisfactory to the Servicer; and (vi) that, upon written notice (a “Redirection
Notice”) to the non-pledging Holders and the Servicer by such Pledgee that the pledging Holder is in default, beyond any applicable
cure periods with respect to the pledging Holder’s obligations to such Pledgee pursuant to the applicable credit agreement or repurchase
agreement, as applicable, between the pledging Holder and such Pledgee (which notice need not be joined in or confirmed by the pledging
Holder), and until such Redirection Notice is withdrawn or rescinded by such Pledgee, Pledgee shall be entitled to receive any payments
that the Servicer would otherwise be obligated to pay to the pledging Holder from time to time pursuant to this Agreement or the Servicing
Agreement. Any pledging Holder hereby unconditionally and absolutely releases the non-pledging Holders and the Servicer from any liability
to the pledging Holder on account of the Servicer’s or a non-pledging Holder’s compliance with any Redirection Notice believed
by the Servicer or the non-pledging Holder, as applicable, to have been delivered by a Pledgee. A Pledgee shall be permitted to exercise
fully its rights and remedies against the pledging Holder to such Pledgee (and accept an assignment in lieu of foreclosure as to such
collateral), in accordance with applicable law and this Agreement. In such event, the Servicer shall recognize such Pledgee (and any transferee
(other than any Borrower Party) which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Pledgee
or any transfer in lieu of foreclosure), and its successor and assigns that are Qualified Institutional Lenders, as the successor to the
pledging Holder’s rights, remedies and obligations under this Agreement, and any such Pledgee or Qualified Institutional Lender
shall assume in writing the obligations of the pledging Holder hereunder accruing from and after such Transfer (i.e., realization
upon the collateral by such Pledgee) and agree to be bound by the terms and provisions of this Agreement. The rights of a Pledgee under
this Section 17 shall remain effective as to each non-pledging Holder (and the Servicer) unless and until such Pledgee shall
have notified such non-pledging Holder (and the Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

18.             
Other Business Activities of the Holders. Each Holder acknowledges that each other Holder and/or any of its Affiliates may
make loans or otherwise extend credit to, and generally engage in any kind of business with, any Borrower Party and/or any entity that
is a holder of debt secured by direct or indirect ownership interests in any Borrower Party or any entity that is a holder of a preferred
equity interest in any Borrower Party, and receive payments on such other loans or extensions of credit to any Borrower Party and otherwise
act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby
were not in effect.

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19.             
 Exercise of Remedies by the Servicer.

(a)               
Subject to Section 20 of this Agreement, and except as otherwise provided in this Agreement or the Servicing Agreement and
subject to the applicable limitations set forth in this Agreement or the Servicing Agreement, the Servicer (or other party entitled in
accordance with the Servicing Agreement to act on behalf of the Holders) shall have the sole and exclusive authority with respect to the
administration of, and exercise of all rights and remedies with respect to, the Mortgage Loan granted under this Agreement or the Servicing
Agreement, including, without limitation, the sole and exclusive authority to (i) modify or waive any of the terms of the Mortgage Loan
Documents, (ii) consent to any action or failure to act by the Mortgage Loan Borrower or any party to the Mortgage Loan Documents, (iii)
vote all claims with respect to the Mortgage Loan in any bankruptcy, insolvency or other similar proceedings and (iv) take legal action
to enforce or protect the Holders’ interests with respect to the Mortgage Loan or to refrain from exercising any powers or rights
under the Mortgage Loan Documents, including the right at any time to declare or waive any Events of Default, or accelerate or refrain
from accelerating the Mortgage Loan or institute any foreclosure action, and subject to the terms and conditions of this Agreement, including,
without limitation, Section 20 hereof, the Non-Lead Note A Holders and the Note B Holders shall not have any voting, consent or
other rights whatsoever with respect to the Servicer’s administration of, or exercise of its rights and remedies with respect to,
the Mortgage Loan on behalf of the Lead Note A Holder. Subject to the terms and conditions of the Servicing Agreement, and subject to
the terms and conditions of Section 10(b) hereof, the Servicer on behalf of the Lead Note A Holder shall have the sole and exclusive
authority to make servicing advances with respect to the Mortgage Loan. Except as otherwise provided in this Agreement, each Non-Lead
Note A Holder and Note B Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the
Servicer (or other party entitled in accordance with the Servicing Agreement to act on behalf of the Holders), the rights, if any, that
such Holder has (A) to declare or cause the Lead Note A Holder or the Servicer to declare an Event of Default under the Mortgage
Loan, (B) to exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation,
filing or causing the Lead Note A Holder or the Servicer to file any bankruptcy petition against the Mortgage Loan Borrower or (C) to
vote any claims with respect to the Mortgage Loan in bankruptcy, insolvency or similar type of proceeding of the Mortgage Loan Borrower.
Each of the Non-Lead Note A Holders and the Note B Holders shall, from time to time, execute such documents as the Lead Note A Holder
or the Servicer shall reasonably request to evidence such assignment with respect to the rights described in clause (iii)
of the first sentence in this Section 19(a). Each of the Non-Lead Note A Holders and the Note B Holders acknowledges that the Servicer
on behalf of the Lead Note A Holder may in its sole discretion (subject to the terms of this Agreement, the Mortgage Loan Documents and
the Servicing Agreement) exercise, or omit to exercise, any rights that the Servicer on behalf of the Note A Holders may have under this
Agreement or the Servicing Agreement in a manner that may be adverse to the interests of the Non-Lead Note A Holders or Note B Holders,
and that the Servicer on behalf of the Lead Note A Holder shall have no liability whatsoever to the Non-Lead Note A Holders or the Note
B Holders (or a servicer on their behalf), other than as set forth in Section 9 hereof, in connection with exercise of rights
by the Servicer on behalf of the Lead Note A Holder or any omission by the Servicer on behalf of the Lead Note A Holder to exercise such
rights. The foregoing provisions of this Section 19(a) shall not limit the right of a Note B Holder or any Affiliate thereof to
be the Special Servicer or to exercise its rights as Controlling Holder under

    	 	-43-	 

     

    

this Agreement or any comparable rights
as Holder of Note B-1, Note B-2 or Note B-3, as applicable, under the Servicing Agreement. Each Note B Holder expressly and irrevocably
waives for itself and any Person claiming through or under such Holder any and all rights that it may have under Section 1315 of
the New York Real Property Actions and Proceedings Law or the provisions of any similar law that purports to give a junior noteholder,
mortgagee or loan participant the right to initiate any loan enforcement or foreclosure proceedings.

(b)              
Notwithstanding anything to the contrary contained herein, the exercise by the Lead Note A Holder (or the Servicer or the Trustee
on its behalf) of its rights under this Section 19 shall be subject in all respects to any section of the Servicing Agreement governing
REMIC administration, and in no event shall the Lead Note A Holder (or the Servicer or the Trustee on its behalf) be permitted to take
any action or refrain from taking any action which would violate the laws of any applicable jurisdiction, breach the Mortgage Loan Documents
or be inconsistent with the Servicing Standard or violate any other provisions of the Servicing Agreement or this Agreement or cause the
arrangement evidenced hereby not to be treated as a “grantor trust” for federal income tax purposes.

(c)               
The Lead Note A Holder (or the Servicer or the Trustee on its behalf) shall exercise such rights and powers described in this Section
19 on the understanding that the Lead Note A Holder (or the Servicer or the Trustee on its behalf) shall administer the Mortgage
Loan in a manner consistent with the Servicing Agreement and this Agreement. Without limiting the generality of the foregoing, the Lead
Note A Holder (or the Servicer or the Trustee on its behalf) may rely on the advice of legal counsel, accountants and other experts (hired
by the Note A Holder (or the Servicer or the Trustee on its behalf)) and upon any written communication or telephone conversation which
the Lead Note A Holder or such Servicer or Trustee believes to be genuine and correct or to have been signed, sent or made by the proper
Person.

(d)              
Upon the Mortgage Loan becoming a Defaulted Mortgage Loan, the Lead Note A Holder (or the Special Servicer acting on behalf of
the Lead Note A Holder) shall have the authority to sell all of Note A (and, if the Note B Holders consent to the inclusion of Note B
in such a sale as described below, Note B) together in accordance with the terms of the Lead Note A PSA. Each Non-Lead Note A Holder (and,
if the Note B Holders have consented to the inclusion of Note B in such a sale as described below, each Note B Holder) hereby appoints
the Lead Note A Holder as its agent, and grants to the Lead Note A Holder an irrevocable power of attorney coupled with an interest, and
its proxy, for the purpose of soliciting and accepting offers for and consummating the sale of its Note. Each Non-Lead Note A Holder (and,
if the Note B Holders have consented to the inclusion of Note B in such a sale as described below, each Note B Holder) agrees that, upon
the request of the Lead Note A Holder (or the Special Servicer acting on behalf of the Lead Note A Holder), such Note Holder shall execute
and deliver to or at the direction of Lead Note A Holder (or the Special Servicer acting on behalf of the Lead Note A Holder) such powers
of attorney or other instruments as the Lead Note A Holder (or the Special Servicer acting on behalf of the Lead Note A Holder) may reasonably
request to better assure and evidence the foregoing appointment and grant, in each case promptly following request, and shall deliver
any related original documentation evidencing its Note (endorsed in blank if necessary) to or at the direction of the Lead Note A Holder
(or the Special Servicer acting on behalf of the Lead Note A Holder) in connection with the consummation of any such sale. Note B shall
be included in such an offer and sale only if each Note B Holder affirmatively

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consents thereto not later than thirty
(30) days following the Purchase Option Notice described in Section 10(a).

20.             
Certain Powers of the Controlling Holder.

(a)               
The Servicer shall consult with and obtain the prior written consent of the Controlling Holder with respect to any Major Decision.
Notwithstanding anything in this Agreement or the Servicing Agreement to the contrary, prior to taking any action constituting a Major
Decision, the Servicer shall send the Controlling Holder a written notice requesting the Controlling Holder’s consent, and if the
Controlling Holder fails to either approve or reject said Major Decision within three (3) Business Days of its receipt of such notice,
the Servicer shall send a second notice to the Controlling Holder in writing in capitalized, bold faced 14 point type containing the following
statement at the top of the first page: “THIS IS A REQUEST FOR MAJOR DECISION APPROVAL. IF THE CONTROLLING HOLDER FAILS TO APPROVE
OR DISAPPROVE THE ENCLOSED MAJOR DECISION WITHIN TWO (2) BUSINESS DAYS, THE SERVICER OR THE SPECIAL SERVICER, AS THE CASE MAY BE, MAY
DELIVER A DEEMED APPROVAL NOTICE,” and if the Controlling Holder fails to either approve or reject said Major Decision within such
two (2) Business Day period after receipt of the second notice, and having been provided with all reasonably requested information with
respect thereto, then the Controlling Holder’s approval will be deemed to have been given.

Furthermore, the Servicer
shall be required (subject to the Servicer’s prevailing duties under Section 20(e)) to deliver to the Directing Certificateholder
(if and for as long as the Lead Note A is held by the Trust) reasonable (as determined by the Servicer) prior notice of any final
decision with respect to any Major Decision, together with the information then in the possession of the Servicer (other than correspondence
with or information furnished by or on behalf of the Controlling Holder) and obtained or prepared by the applicable Servicer in connection
with such proposed action.

Notwithstanding the foregoing
provisions of this Section 20(a), if the Servicer reasonably determines in accordance with the Servicing Standard that immediate action
is necessary to protect the interests of the Holders (as a collective whole), the Servicer may take any such action without waiting for
the Controlling Holder’s response.

Upon reasonable request,
the Lead Note A Holder shall provide, or cause the Special Servicer to provide, the Controlling Holder with any information in the possession
of the Note A Holder or the Special Servicer with respect to such matters, including, without limitation, its reasons for a proposed action.

The Lead Note A Holder or
the applicable Servicer shall notify the Holders of any release or substitution of collateral for the Mortgage Loan even if such release
or substitution is in accordance with the Mortgage Loan; provided, that no such release or substitution of collateral shall be
effected except in accordance with the terms of this Agreement.

Any amounts funded by any
Servicer or Trustee on behalf of any Holder pursuant hereto, under the Mortgage Loan Documents as a result of (1) the making of any protective

    	 	-45-	 

     

    

Advances or (2) interest accruals or accretions
and any compounding thereof (including default interest) with respect to the Note shall not at any time be deemed to contravene this subsection.

(b)              
Appraisal Reductions shall be allocated to reduce first, the Note B Principal Balance (and, correspondingly, the Note B-1
Principal Balance, the Note B-2 Principal and the Note B-3 Principal Balance on a Pro Rata and Pari Passu Basis), and second, the
Note A Principal Balance (and, correspondingly, the Principal Balance of each Note A on a Pro Rata and Pari Passu Basis), in each case
up to the outstanding amount thereof, for purposes of determining the identity of the Controlling Holder. The Special Servicer shall give
written notice to the Controlling Holder of any Appraisal Reductions calculated with respect to the Mortgage Loan and any allocation thereof
to reduce the Principal Balance of such Holder.

(c)               
Notwithstanding the foregoing, the Controlling Holder shall be entitled to avoid a Control Appraisal Event caused by application
of an Appraisal Reduction upon satisfaction of the following (which must be completed within forty-five (45) days of the receipt of a
third party Appraisal (or an update thereto) that indicates such Control Appraisal Event has occurred): (i) such Controlling Holder shall
have delivered a supplement to the Appraised Value of the Mortgaged Property (the “Threshold Event Collateral”), in
the amount specified in clause (ii) below, to be held by or on behalf of the Master Servicer or the Special Servicer (in each case
together with documentation reasonably acceptable to the Master Servicer or the Special Servicer in accordance with the Servicing Standard
to create and perfect a first priority security interest in favor of the Trust in such collateral) in the form of (A) cash collateral
for the benefit of the Trustee, and acceptable to the Master Servicer or the Special Servicer, as the case may be, or (B) an unconditional
and irrevocable standby letter of credit payable on sight demand (with the Trustee as beneficiary), in form acceptable to the Master Servicer
or Special Servicer, as the case may be, issued by a domestic bank or other financial institution the long term unsecured debt obligations
of which are rated at least “AA” by S&P and “Aa2” by Moody’s or the short term obligations of which
are rated at least “A-1+” by S&P and “P-1” by Moody’s, and (ii) the Threshold Event Collateral shall
be in an amount which, when added to the Appraised Value of the Mortgaged Property as determined pursuant to the Servicing Agreement,
would cause the applicable Control Appraisal Event not to occur. If the requirements of this paragraph are satisfied by the Controlling
Holder (a “Threshold Event Cure”), the Control Appraisal Event caused by application of an Appraisal Reduction shall
be deemed not to have occurred. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling Holder shall
(x) renew such letter of credit not later than 30 days prior to expiration thereof or replace such letter of credit with a substitute
letter of credit or other Threshold Event Collateral with an expiration date that is greater than 45 days from the date of substitution
and (y) if the long or short term ratings of the letter of credit provider fall below the minimum requirements provided above, replace
such letter of credit within 30 days of such downgrade with a replacement letter from an issuer meeting the rating requirements; provided,
that, if a letter of credit is not renewed prior to 30 days prior to the expiration date of such letter of credit or replaced within 30
days of such downgrade, the letter of credit shall provide that the Master Servicer or the Special Servicer, as the case may be, may (and
at the direction of the applicable Controlling Holder, shall) draw upon such letter of credit and hold the proceeds thereof as Threshold
Event Collateral. The Threshold Event Cure shall continue until (i) the Appraised Value of the Mortgaged Property plus the value of the
Threshold Event Collateral would not be sufficient to prevent a Control Appraisal Event from occurring; or (ii) the occurrence of a Final
Recovery Determination. If

    	 	-46-	 

     

    

the Appraised Value of the Mortgaged
Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal Event without taking into consideration
any, or some portion of, Threshold Event Collateral previously delivered by the Controlling Holder, the Threshold Event Collateral (or
such portion thereof) held by the Trustee, the Master Servicer or the Special Servicer shall promptly be returned to such Controlling
Holder (at its sole expense). Upon a Final Recovery Determination with respect to the Mortgage Loan, such Threshold Event Collateral shall
be available to reimburse the Note A Holders and the Trust for any realized loss with respect to the Mortgage Loan after application of
the net proceeds of liquidation, not in excess of the Note A Principal Balance, plus accrued and unpaid interest thereon at the applicable
interest rate and all other Costs reimbursable under this Agreement and under the Servicing Agreement, and to the extent not so utilized,
such Threshold Event Collateral shall be returned to the Holder that posted such Threshold Event Collateral. Any Threshold Event Collateral
shall be treated as an “outside reserve fund” for purposes of the REMIC Provisions, and such property (and the right to reimbursement
of any amounts with respect thereto from a REMIC) shall be beneficially owned by the Holder that posted such Threshold Event Collateral,
who shall be taxable on all income with respect thereto. The entire amount of Threshold Event Collateral, without a haircut or other reduction,
shall be considered in determining the sufficiency of such Threshold Event Collateral to avoid a Control Appraisal Event.

(d)              
The Special Servicer shall obtain appraisals that meet the requirements of, and at the times required pursuant to, the terms of
the Lead Note A PSA. If at any time an Appraisal Reduction exists that would result in a Control Appraisal Event, or at any time after
the delivery of Threshold Event Collateral pursuant to clause (c) above, the Note B Holders shall have the right, at their own cost, to
obtain and deliver, or direct the Servicer (or Special Servicer, as the case may be) to obtain and deliver, to the Servicer, the Note
B Holders and the Trustee (if applicable) an appraisal (a “Supplemental Appraisal”) that satisfies the requirements
for any such appraisal as set forth in the Servicing Agreement. After the first Supplemental Appraisal, if there is a material change
with respect to the Mortgaged Property related to the applicable Appraisal Reduction, the Note B Holders will have the right, at their
own cost, to request, in writing, that the Special Servicer obtain an additional Supplemental Appraisal, which request shall set forth
its belief of what constitutes a material change to the Mortgaged Property (including any related documentation). Only one Supplemental
Appraisal of the Mortgaged Property may be requested by the Note B Holders within the same six-month period. Upon receipt of a Supplemental
Appraisal, the Servicer (or Special Servicer, as the case may be) shall recalculate the Appraisal Reduction in respect of the Mortgage
Loan based on such Supplemental Appraisal and shall notify the Trustee (if applicable), the Master Servicer (if applicable) and the Note
B Holders of such recalculated Appraisal Reduction. If, as a result of such calculation based on a Supplemental Appraisal, a Control Appraisal
Event then in effect shall no longer exist, then the Note B Holders, collectively, shall be reinstated as Controlling Holder. Until such
time as such Supplemental Appraisal is obtained by the Special Servicer and the recalculation of the Appraisal Reduction has been made
(it being agreed that such recalculation shall be done no later than three (3) Business Days following receipt of such Supplemental Appraisal),
the original Control Appraisal Event shall remain in effect (subject to clause (c) above).

(e)               
The terms “Controlling Holder” and “Control Note” shall mean as of any date of determination,
the Note B Holders (collectively) and Note B, respectively, unless (i) a

    	 	-47-	 

     

    

Control Appraisal Event has occurred
or (ii) any of the Note B Holders is a Borrower Party, in which case the “Controlling Holder” and “Control Note”
shall be the Lead Note A Holder and Lead Note A, respectively. The terms “Non-Controlling Holder” and “Non-Control
Note” shall mean each Holder that is not the Controlling Holder and each Note that is not the Control Note, respectively.

If more than one
Person shall hold a direct interest in a Note, the holder(s) of more than 50% of the principal amount of such Note shall designate by
written notice to the other Holders one of such Persons (with respect to such Note, the “Majority Note Holder”) to
act on behalf of all such Persons holding an interest in such Note. The Majority Note Holder with respect to any Note shall have the sole
right to receive any notices which are required to be given or which may be given to the Holder of such Note pursuant to this Agreement
and to exercise the rights and power given to the Holder of such Note hereunder subject to Section 10 of this Agreement, including
any approval rights of the Holder of such Note; provided, that until the Majority Note Holder has been so designated, the last
Person known to the other Holder and the Servicer to hold more than a 50% direct interest in such Note shall be deemed to be the Majority
Note Holder with respect to such Note. Once the Majority Note Holder has been designated hereunder with respect to any Note, each Holder
shall be entitled to rely on such designation until it has received written notice from the holder(s) of more than 50% of the principal
amount of such Note of the designation of a different Person to act as the Majority Note Holder with respect thereto. If any Borrower
Party owns the entirety or a majority of any Note, then such Note shall not qualify as the Control Note. If any Borrower Party owns less
than a majority of the Control Note, then for purposes of determining the Controlling Holder, the ownership interest of such Borrower
Party shall be deemed to be zero, and the owners of more than 50% of the remaining interests in such Note shall be deemed to be the
Holder of such Note. No reference set forth in this Agreement to the ownership of any interest in a Note by any Borrower Party shall be
construed to limit Section 16(a) of this Agreement. In no event may any Borrower Party be the Controlling Holder.

(f)               
Notwithstanding anything herein to the contrary, no advice, direction or objection from or by the Controlling Holder, as contemplated
by Section 20(a) hereof, may (and Agent, the Lead Note A Holder and any Servicer shall ignore and act without regard to any such advice,
direction or objection that Agent, the Lead Note A Holder or a Servicer has determined, in its reasonable, good faith judgment, will)
require or cause Agent, the Lead Note A Holder or Servicer to violate any provision of this Agreement, the Mortgage Loan Documents or
the Servicing Agreement (and, on and after the Note A Securitization Date, and solely while any Note A is included in such Securitization,
including any REMIC provisions), including each Servicer’s obligation to act in accordance with the Servicing Standard.

(g)              
No Controlling Holder shall have any liability to the Trustee, the Servicer, the Special Servicer, any certificateholder in a Securitization,
the Agent or any other Holder for any action taken, or for refraining from the taking of any action or the giving of any consent or for
errors in judgment; provided, that the Controlling Holder will not be protected against any liability which would otherwise be
imposed by reason of bad faith, willful misconduct or gross negligence or breach of this Agreement on the part of such party. By its acceptance
of a Note, each Holder shall be deemed to have confirmed its understanding that (i) a Controlling Holder may take or refrain from taking
actions that favor its interests or those of its affiliates over those

    	 	-48-	 

     

    

of any other Holder, (ii) a Controlling
Holder may have special relationships and interests that conflict with the interest of another Holder and shall be deemed to have agreed
to take no action against a Controlling Holder or any of its officers, directors, employees, principals or agents as a result of such
special relationships or conflicts, and (iii) no Controlling Holder shall be liable by reason of its having acted or refrained from acting
solely in its interest or in the interest of its affiliates.

(h)              
Subject to the terms of the applicable Servicing Agreement, the Controlling Holder may designate, in writing, a representative
(other than a Borrower Party) to exercise its rights and powers under this Section 20 or otherwise under this Agreement (with copies
of such writing to be delivered to each of the other parties hereto). Such designation shall remain in effect until it is revoked by the
Controlling Holder by a writing delivered to each of the other parties hereto. Such notice shall include the name, address and other contact
information of such representative. Such representative shall have the sole right to receive any notices which are required to be given
or which may be given to the Controlling Holder pursuant to this Agreement.

(i)                
Each Non-Controlling Holder shall be entitled to receive, upon request made to the appropriate party, a copy of any notice or report
required to be delivered (upon request or otherwise) by such party to the Controlling Holder. Any such party shall be permitted to require
payment of a sum sufficient to cover the reasonable costs and expenses of providing such copies.

(j)                
Upon determining that a Servicing Transfer Event has occurred with respect to the Mortgage Loan, the Master Servicer shall promptly
notify each Holder.

(k)              
The Controlling Holder may at any time and from time to time replace any existing Special Servicer with respect to the Mortgage
Loan with any other person that is a Qualified Servicer and that makes the representations, warranties, and covenants set forth in such
Lead Note A PSA. The Controlling Holder shall designate a person to serve as replacement Special Servicer by delivering to the other Holders,
the Master Servicer and the existing Special Servicer a written notice stating such designation and by satisfying the other conditions
required under the Lead Note A PSA; provided, that if Lead Note A ceases to be an asset of the Trust created pursuant to the Lead
Note A PSA, Lead Note A Holder shall have the right to approve such replacement Special Servicer if such replacement Special Servicer
is not a Qualified Servicer. The Controlling Holder shall promptly pay any expenses incurred by the Note A Holders in connection with
such replacement. The Controlling Holder shall notify the other parties hereto of any termination of the Special Servicer and appointment
of a new Special Servicer in accordance with this Section 20. If the Controlling Holder has not appointed a Special Servicer with
respect to the Mortgage Loan, then the Special Servicer designated in the Lead Note A PSA shall be the Special Servicer.

(l)                
If the Lead Note A Holder is required to act as Controlling Holder under this Agreement or the Servicing Agreement, the Special
Servicer shall (i) notify the Lead Note A Holder that such action is required, (ii) provide written direction to the Lead Note A Holder
to vote on such action and (iii) provide any information which is reasonably requested by the

    	 	-49-	 

     

    

Lead Note A Holder and is in the possession
of the Special Servicer to enable the Lead Note A Holder to vote.

(m)            
If the Lead Note A Holder is the Controlling Holder, the Lead Note A Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall (i) provide copies of any notice, information and report that it is required to provide to the Directing Certificateholder
under the Lead Note A PSA (or its representative thereunder) with respect to any Major Decisions or the implementation of any recommended
actions outlined in an Asset Status Report (as defined under the Lead Note A PSA) relating to the Mortgage Loan, to each Non-Lead Note
A Holder (or its representative), within the same time frame it is required to provide to the Directing Certificateholder under the Lead
Note A PSA (for this purpose, without regard to whether such items are actually required to be provided to the Directing Certificateholder
under the Lead Note A PSA due to the occurrence of a control termination event or a consultation termination event thereunder) and (ii)
use reasonable efforts to consult each Non-Lead Note A Holder (or its representative) on a strictly non-binding basis, to the extent that,
having received such notices, information and reports, such Non-Lead Note A Holder (or its representative) requests consultation with
respect to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the
Mortgage Loan, and consider alternative actions recommended by such Non-Lead Note A Holder (or its representative); provided that
after the expiration of a period of ten (10) Business Days from the delivery to such Non-Lead Note A Holder (or its representative) by
the Lead Note A Holder (or the Master Servicer or the Special Servicer acting on its behalf) of written notice of a proposed action, together
with copies of the notice, information and report required to be provided to the Lead Note A Securitization Directing Certificateholder,
the Lead Note A Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult such
Non-Lead Note A Holder (or its representative), whether or not such Non-Lead Note A Holder (or its representative) has responded within
such ten (10) Business Day period (unless, the Lead Note A Holder (or the Master Servicer or the Special Servicer acting on its behalf)
proposes a new course of action that is materially different from the action previously proposed, in which case such ten (10) Business
Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding
the consultation rights of each Non-Lead Note A Holder (or its representative) set forth in the immediately preceding sentence, the Lead
Note A Holder (or Master Servicer or Special Servicer, acting on its behalf) may take any Major Decision or any action set forth in the
Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Lead Note A Holder (or Master Servicer
or Special Servicer, as applicable) determines that immediate action with respect thereto is necessary to protect the interests of the
Note Holders. In no event shall the Lead Note A Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at
any time to follow or take any alternative actions recommended by a Non-Lead Note A Holder (or its representative).

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

    	 	-50-	 

     

    

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

21.             
No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by any
Holder to another Holder, or a loan from any Holder to any other Holder. Except as otherwise provided in this Agreement and the Servicing
Agreement, the Note B Holders shall not have a separate interest in any property taken as security for the Mortgage Loan except by virtue
of being a lender under the Loan Agreement; provided, that if any such property or the proceeds thereof shall be applied in respect
of payments due under the Mortgage Loan, then each Note B Holder shall be entitled to receive its share of such application in accordance
with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a
single “claim” under Section 101 of the Bankruptcy Code, and no Note B Holder shall be a separate creditor of the Mortgage
Loan Borrower under the Bankruptcy Code, and if Note B-1, Note B-2 or Note B-3, as applicable, is construed to represent a single
or separate such “claim,” that the Holder of such Note shall be deemed to have assigned such claim to Lead Note A Holder.

22.             
Governing Law; Waiver of Jury Trial. The parties agree that the State of New York has a substantial relationship to the
parties and to the underlying transaction embodied hereby, and in all respects, including, without limitation, matters of construction,
validity and performance, this Agreement and the obligations arising hereunder shall be governed by, and construed in accordance with,
the laws of the State of New York applicable to contracts made and performed in such State and any applicable law of the United States
of America. Each of the parties hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim arising
out of or relating to this Agreement.

23.             
Modifications, Waiver in Writing.

(a)               
This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties hereto.
The party seeking modification of this Agreement shall be solely responsible for any and all expenses that may arise in order to modify
this Agreement. Additionally, from and after a Securitization, this Agreement shall not be amended or modified without first (a) receiving
an opinion of counsel experienced in REMIC matters that such amendment or modification will not adversely affect the REMIC status of any
Note in such Securitization and this Agreement, except for amendments pursuant to Section 23(b), and (b) if such modification,
cancellation or termination would adversely affect the rights or materially affect the duties of the Servicer or Trustee, receiving the
written consent of such affected party. The Servicer shall provide each Rating Agency with a copy of any amendment or modification of
this Agreement.

(b)              
For so long as Morgan Stanley Bank or an affiliate thereof (a “Morgan Stanley Bank Entity”) is the owner of
Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note

    	 	-51-	 

     

    

A-6, Note A-7, Note A-8 or Note A-9,
such Morgan Stanley Bank Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the respective Holder
of Note A to execute amended and restated or additional notes reallocating the principal of one or more of Note A-1, Note A-2, Note A-3,
Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9 among each other or to such new notes, provided that (i) the aggregate principal
balance and notional balance of all outstanding notes following such amendments is no greater than the aggregate principal balance and
notional balance of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9 prior to such amendments,
(ii) all notes representing the new notes continue to have the same weighted average interest rate as the weighted average interest rate
of the notes representing Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9 prior to such amendments,
(iii) the Morgan Stanley Bank Entity holding the applicable Notes notifies the Trustee, the Master Servicer, the Special Servicer, each
Non-Lead Note Trustee, each Non-Lead Note Master Servicer, each Non-Lead Note Special Servicer and the other Holders in writing of such
modified allocations and principal amounts (it being understood that no consent by such parties is required for any such allocations),
(iv) such modifications shall not affect the definition of Control Appraisal Event and shall not change the provisions relating to when
the Note A Holder would become the Controlling Party and (v) the execution of such amendments and new notes does not have an adverse effect
on any other Notes or on any REMIC or grantor trust created by the Lead Note A PSA or any Non-Lead Note PSA.

24.             
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and assigns; provided, that no successors or assigns of the (a) Initial Note A
Holder (other than any assignee that becomes a party to this Agreement following a Transfer that is not pursuant to the Securitization),
or (b) the Initial B-1 Holder, the Initial B-2 Holder or the Initial B-3 Holder shall have any liability for a breach of representation
or warranty set forth in this Agreement. Each of the Master Servicer, Special Servicer and Trustee under the Lead Note A PSA and each
Non-Lead Note Master Servicer, Non-Lead Note Special Servicer and Non-Lead Note Trustee is an intended third-party beneficiary of this
Agreement. Except as provided in the preceding sentence, none of the provisions of this Agreement shall be for the benefit of or enforceable
by any Person not a party hereto or a successor or assign of a party hereto.

25.             
Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed and delivered shall
be an original, but all of which together shall constitute one and the same instrument, and the words “executed,” “signed,”
“signature” and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement
or document related to this transaction shall include, in addition to manually executed signatures, images of manually executed signatures
transmitted by facsimile or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”)
and other electronic signatures (including, without limitation, any electronic sound, symbol, or process, attached to or logically associated
with a contract or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures
and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received,
or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use
of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures
in Global and National

    	 	-52-	 

     

    

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

26.             
Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference only
and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.

27.             
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Agreement.

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

29.             
Notices. All notices, consents, approvals and requests required or permitted hereunder shall be given in writing and shall
be effective for all purposes if sent by (a)(a) hand delivery, with proof of attempted delivery, (b)(b)
certified or registered United States mail, postage prepaid, (c)(c) expedited delivery service, either commercial or
United States Postal Service, with proof of attempted delivery, or (d)(d) by fax provided that such fax notice must also
be delivered by one of the means set forth in (a), (b) or (c) above, addressed as follows: (A) if to the Note A Holder, 1585 Broadway,
New York, New York 10036, Attention: Jane Lam (with copies to (i) Morgan Stanley Bank, N.A., 1633 Broadway, 29th Floor, New York, New
York 10019, Attention: Legal Compliance Division, and (ii) cmbs_notices@morganstanley.com), and (B) if to the Note B-1 Holder, the Note
B-2 Holder or the Note B-3 Holder, c/o Sun Life Assurance Company of Canada, Private Fixed Income, 1 York Street, Suite 3200, Toronto,
Ontario M5J 0B6, Canada, Attn: Private Fixed Income, or, in each of the foregoing cases, at such other address and Person as shall be
designated from time to time by any party hereto, as the case may be, in a written notice to the other parties hereto in the manner provided
for in this Section. A copy of all notices, consents, approvals and requests directed to any Holder shall be delivered concurrently to
each Person (not to exceed four (4) in the aggregate) designated by such Holder. A notice shall be deemed to have been given: (a) in the
case of hand delivery, at the time of delivery; (b) in the case of registered or certified mail, when delivered or the first attempted
delivery on a Business Day; (c) in the case of expedited prepaid delivery upon the first attempted delivery on a Business Day; or (d)
in the case of fax, upon receipt of answerback confirmation, provided that such fax notice was also delivered as required in this Section.
A party receiving a notice which does not comply with the technical requirements for notice under this Section may elect to waive any
deficiencies and treat the notice as having been properly given.

30.             
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the original of each
Note A that is not included in the Lead Securitization and the original Note B-1, the original Note B-2 and the original Note B-3 but
including copies of such Notes) will be held (a) prior to the Note A Securitization, by the Initial

    	 	-53-	 

     

    

Agent (or a custodian on its behalf) and (b)
after the Note A Securitization, by the Trustee or other applicable Person under the Servicing Agreement. The original of each Note A
that is not included in the Lead Securitization and each Note B shall be held by the respective Holder thereof.

31.             
Termination. This Agreement and the respective obligations and responsibilities of the parties under this Agreement shall
terminate upon (a) mutual agreement by the parties hereto, evidenced in writing; (b) thirty (30) days after each of the
Notes is paid in full; or (c) payment (or provision for payment) to the Holders of all amounts held by or on behalf of the Servicer
and required under the Servicing Agreement, to be so paid on the last Master Servicer Remittance Date following final payment or other
liquidation (or any advance with respect thereto) of the Mortgage Loan or the Mortgaged Property.

32.             
Statement of Intent. If the Internal Revenue Service characterizes this Agreement as a partnership for federal income tax
purposes, each Non-Lead A Holder and Note B Holder authorizes and directs the Lead Note A Holder to elect out of partnership
accounting pursuant to Treasury Regulations Section 1.761-2, and agrees to file its own tax returns and reports in a manner consistent
with such election, to the extent required under the United States federal income tax law, and the Holders agree that any Taxes, penalty,
interest or other obligation imposed under the Code, as amended, with respect to the income tax items arising from such partnership shall
be the sole obligation of the Holder to whom such items are allocated and not of such partnership.

33.             
Withholding Taxes.

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

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

    	 	-54-	 

     

    

indemnification obligations of the Holders
shall be limited to those Holders that provided an incorrect representation, certificate, statement, document or instrument in connection
with the withholding of Taxes from payments made to such Holder and shall be allocated between such Holders in accordance with their respective
Percentage Interests. The Person that is the Holder at any particular time shall not be liable under this Section 33 with
respect to any predecessor or successor Holder.

(c)               
Each Holder represents to the Servicer as of the date hereof that it is not a Non-Exempt Person and that neither the Servicer nor
the Mortgage Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or
otherwise pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary during
the term of this Agreement, each Holder shall deliver to the Servicer evidence satisfactory to the Servicer substantiating that it is
not a Non-Exempt Person and that the Servicer is not obligated under applicable law to withhold Taxes on sums paid to it with respect
to the Mortgage Loan or otherwise under this Agreement, unless there is a change in law after the date that such Holder became a party
hereto. Without limiting the effect of the foregoing, (a) if a Holder is created or organized under the laws of the United States, any
state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing to the Servicer an
Internal Revenue Service Form W-9, or successor form, and (b) if a Holder is not created or organized under the laws of the United States,
any state thereof or the District of Columbia, and if the payment of interest or other amounts by the Mortgage Loan Borrower is treated
for United States income tax purposes as derived in whole or part from sources within the United States, such Holder shall satisfy the
requirements of the preceding sentence by furnishing to the Servicer Internal Revenue Service Form W-8EXP, W-8ECI, Form W-8IMY (with appropriate
attachments) or Form W-8BEN, or successor forms, as may be required from time to time, duly executed by such Holder, as evidence of such
Holder’s entitlement to exemption from or reduction in the withholding of United States tax with respect thereto. The Servicer shall
not be obligated to make any payment hereunder to any Holder until such Holder shall have furnished to the Servicer the requested forms,
certificates, statements or documents. It is hereby acknowledged that such forms have been received by the Servicer as of the date hereof
with respect to each of Initial Note B-1 Holder, Initial Note B-2 Holder and Initial Note B-3 Holder.

34.       
Resignation of Agent. The Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate
Administrator, as successor Agent, at any time without the consent of any Holder. Notwithstanding the foregoing, the Holders hereby agree
that, simultaneously with the closing of the Note A Securitization, the Master Servicer shall be deemed to have been automatically appointed
as the successor Agent under this Agreement in place of the Initial Agent without any further notice or other action. The termination
or resignation of such Master Servicer, as Master Servicer under the Servicing Agreement, shall be deemed a termination or resignation
of such Master Servicer as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically appointed
as the successor Agent under this Agreement in place thereof without any further notice or other action.

[NO FURTHER TEXT ON THIS PAGE]

 

    	 	-55-	 

     

    

IN WITNESS WHEREOF, each
Note A Holder, the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder, has caused this Agreement to be duly executed as
of the day and year first above written.

	 	Note A Holder: 
	 	 
	 	MORGAN STANLEY BANK, N.A.
	 	 
	 	By:  	/s/ Jane Lam
	 	 	Name:  	Jane Lam
	 	 	Title:	Authorized Signatory
	 	 	 	 

 

	 	Note B-1 Holder:
	 	 
	 	SUN LIFE ASSURANCE COMPANY OF CANADA
	 	 
	 	By:  	/s/ Gary Franko
	 	 	Name:  	Gary Franko
	 	 	Title:	Managing Director, Private Fixed Income
	 	 	 	 

	 	
	 	 
	 	By:  	/s/ Alec Svoboda
	 	 	Name:  	Alec Svoboda
	 	 	Title:	Managing Director, Private Fixed Income
	 	 	 	 

 

	 	Note B-2 Holder:
	 	 
	 	SUN LIFE INSURANCE (CANADA) LIMITED
	 	 
	 	By:  	/s/ Gary Franko
	 	 	Name:  	Gary Franko
	 	 	Title:	Managing Director, Private Fixed Income
	 	 	 	 

	 	
	 	 
	 	By:  	/s/ Alec
    Svoboda
	 	 	Name:  	Alec Svoboda
	 	 	Title:	Managing Director, Private Fixed Income
	 	 	 	 

 

    	 	 	 

     

    

 

	 	Note B-3 Holder:
	 	 
	 	SUN
LIFE HONG KONG LIMITED
	 	 
	 	By:  	/s/ Shiuan Ting van Vuuren
	 	 	Name:  	Shiuan Ting van Vuuren
	 	 	Title:	Chief Investment Officer
	 	 	 	 

	 	Initial Agent:
	 	 
	 	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS
LLC
	 	 
	 	By:  	/s/ Kristin Sansone
	 	 	Name:  	Kristin Sansone
	 	 	Title:	Vice President
	 	 	 	 

 

    	 	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan

	Mortgage Loan Borrower:	CC Owner, LLC
	Date of Mortgage Loan:	February 16, 2022
	Initial Principal Amount of Mortgage Loan:	$450,000,000.00
	Closing Date Mortgage Loan Principal Balance:	$450,000,000.00
	Location of Mortgaged Property:	400 7th Street Southwest

Washington, DC
	Current Use of Mortgaged Property:	Office
	Mortgage Interest Rate:	The weighted average of the Note A Interest Rate and the Note B Interest Rate (based on the Note A Principal Balance and the Note B Principal Balance) as of the date hereof
	Mortgage Loan Default Rate:	Lesser of (a) the maximum rate permitted by applicable law and (b) 4% above the Mortgage Interest Rate
	Maturity Date:	March 9, 2032

B.Description of Notes

	Origination Date Note A Principal Balance:	$398,000,000.00
	Closing Date Note A-1 Principal Balance:	$80,000,000.00
	Closing Date Note A-2 Principal Balance:	$80,000,000.00
	Closing Date Note A-3 Principal Balance:	$50,000,000.00
	Closing Date Note A-4 Principal Balance:	$40,000,000.00
	Closing Date Note A-5 Principal Balance:	$40,000,000.00
	Closing Date Note A-6 Principal Balance:	$30,000,000.00
	Closing Date Note A-7 Principal Balance:	$30,000,000.00
	Closing Date Note A-8 Principal Balance:	$20,000,000.00

    	 	A-1	 

     

    

 

	Closing Date Note A-9 Principal Balance:	$28,000,000.00
	Origination Date Note B Principal Balance:	$52,000,000.00
	Closing Date Note B-1 Principal Balance:	$16,000,000.00
	Closing Date Note B-2 Principal Balance:	$16,000,000.00
	Closing Date Note B-3 Principal Balance:	$20,000,000.00
	Closing Date Note A Percentage Interest:	88.44%
	
    Closing Date Note A-1 Percentage Interest:

     
	17.78%
	
    Closing Date Note A-2 Percentage Interest:

     
	17.78%
	
    Closing Date Note A-3 Percentage Interest:

     
	11.11%
	
    Closing Date Note A-4 Percentage Interest:

     
	8.89%
	
    Closing Date Note A-5 Percentage Interest:

     
	8.89%
	Closing Date Note A-6 Percentage Interest:	6.67%
	Closing Date Note A-7 Percentage Interest:	6.67%
	Closing Date Note A-8 Percentage Interest:	4.44%
	Closing Date Note A-9 Percentage Interest:	6.22%
	Closing Date Note B Percentage Interest:	11.56%
	Closing Date Note B-1 Percentage Interest:	3.56%
	Closing Date Note B-2 Percentage Interest:	3.56%
	Closing Date Note B-3 Percentage Interest:	4.44%
	Note A Interest Rate:	3.0494%
	Note B Interest Rate:	3.9200%

    	 	A-2	 

     

    

 

	Note A Default Interest Rate:	Lesser of (a) the maximum rate permitted by applicable law and (b) 4% above the Note A Interest Rate
	Note B Default Interest Rate:	Lesser of (a) the maximum rate permitted by applicable law and (b) 4% above the Note B Interest Rate

 

    	 	A-3	 

     

    

EXHIBIT B

PERMITTED FUND MANAGERS

 

	1.       	Westbrook Partners
	2.       	DLJ Real Estate Capital Partners
	3.       	iStar Financial Inc.
	4.       	Lend-Lease Real Estate Investments
	5.       	Archon Capital, L.P.
	6.       	Whitehall Street Real Estate Fund, L.P.
	7.       	The Blackstone Group International Ltd.
	8.       	Apollo Real Estate Advisors
	9.       	Colony Capital, LLC
	10.       	Praedium Group
	11.       	JER Partners
	12.       	Fortress Investment Group LLC
	13.       	Lone Star Funds
	14.       	Clarion Partners
	15.       	Walton Street Capital, L.L.C.
	16.       	Starwood Property Trust, Inc.
	17.       	BlackRock, Inc.
	18.       	Rialto Capital Management, LLC
	19.       	Raith Capital Partners, LLC
	20.       	Eightfold Real Estate Capital, L.P.
	21.       	Principal Real Estate Investors, LLC
	22.       	One William Street Capital Management, L.P.

 

 

    	 	B-1Exhibit 4.6

 

Execution Copy

AGREEMENT BETWEEN NOTE HOLDERS

Dated as of June 9, 2022

by and between

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-1 Holder),

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-2 Holder)

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-3 Holder)

 

 

 

Hilton Sandestin Beach Golf & Spa 

    	 	 

    	 	 

    

This AGREEMENT BETWEEN NOTE
HOLDERS (“Agreement”), dated as of June 9, 2022, by and between WELLS FARGO BANK, NATIONAL ASSOCIATION (“WFB”
and, together with its successors and assigns in interest, in its capacity as initial owner of Note A-1 (as defined below), the “Initial
Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”) and WELLS FARGO BANK, NATIONAL
ASSOCIATION (together with its successors and assigns in interest, in its capacity as initial owner of Note A-2 (as defined below), the
“Initial Note A-2 Holder”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (together with its successors and assigns in
interest, in its capacity as initial owner of Note A-3 (as defined below), the “Initial Note A-3 Holder” and together
with the Initial Note A-1 Holder and the Initial Note A-2 Holder, the “Initial Note Holders”).

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein), WFB originated a certain loan (the “Mortgage Loan”) described on the
schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to Sandestin Beach Hotel, Ltd. (the “Mortgage
Loan Borrower”), which is evidenced, inter alia, by (i) one promissory note in the original principal amount of $76,000,000.00
(as amended, modified, consolidated, or supplemented, “Note A-1”), made by the Mortgage Loan Borrower in favor of
the Initial Note A-1 Holder, (ii) one promissory note in the original principal amount of $20,000,000.00 (as amended, modified, consolidated,
or supplemented, “Note A-2”), made by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder, (iii) one
promissory note in the original principal amount of $24,000,000.00 (as amended, modified, consolidated, or supplemented, “Note
A-3” and, together with Note A-1 and Note A-2, the “Notes”)), made by the Mortgage Loan Borrower in favor
of the Initial Note A-3 Holder, each of which is secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”); and

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

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

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

“Accelerated Mezzanine
Loan Lender” shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

    	 	 	 

    	 	 

    

“Advance Interest”
shall mean the interest accrued on any Servicing Advance which is payable to the party that made that Servicing Advance, in accordance
with the Lead Securitization Servicing Agreement.

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

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

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

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

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

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

“Asset Representations
Reviewer” shall mean the “Asset Representations Reviewer” (or similarly named Person that is the “asset representations
reviewer” as defined in Item 1101(m) of Regulation AB) under the Lead Securitization Servicing Agreement.

“Asset Status Report”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

“Balloon Payment”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

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

“Borrower Party”
shall mean the Mortgage Loan Borrower, a manager of the Mortgaged Property, an Accelerated Mezzanine Loan Lender or any Borrower Party
Affiliate.

“Borrower Party
Affiliate” shall mean, with respect to the Mortgage Loan Borrower, a manager of the Mortgaged Property or an Accelerated Mezzanine
Loan Lender, (a) any other Person controlling or controlled by or under common control with such Mortgage Loan Borrower, manager or Accelerated
Mezzanine Loan Lender, as applicable, or (b) any other Person owning, directly or indirectly, 25% or more of the beneficial interests
in such Mortgage Loan Borrower, manager or Accelerated Mezzanine Loan Lender, as applicable. For the

    	 	-2-	 

    	 	 

    

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.

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

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

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

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

“Commission”
shall have the meaning assigned to such term in Section 2(c)(vi).

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

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

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

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

“Controlling Note”
shall mean Note A-1.

“Controlling Note
Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is included in
a Securitization, references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class
of securities issued in such Securitization designated as the “controlling class” or such other party otherwise assigned
the rights to exercise the rights of the “Controlling Note Holder” under this Agreement or under the Lead Securitization
Servicing Agreement, as and to the extent provided in the Lead Securitization Servicing Agreement; provided that for so long as
50% or more of the Controlling Note is held by (or the party assigned the rights to exercise the rights of the “Controlling Note
Holder” (as described above) is) the Mortgage Loan Borrower or a Borrower Party, the holder of the Controlling Note (and such party
assigned the rights to exercise the rights of the

    	 	-3-	 

    	 	 

    

“Controlling Note Holder” as described
above) shall not be entitled to exercise any rights of the Controlling Note Holder, and there shall be deemed to be no Controlling Note
Holder hereunder. If the Controlling Note is included in a Securitization, the Lead Securitization Servicing Agreement may contain additional
limitations on the rights of the designated party entitled to exercise the rights of the “Controlling Note Holder” hereunder
if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage Loan Borrower.

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

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

“Defaulted Loan”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement

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

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

“Exchange Act”
shall mean the Securities Exchange Act of 1934.

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

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

“Indemnified Items”
shall have the meaning assigned to such terms in Section 2(b).

“Indemnified Parties”
shall have the meaning assigned to such terms in Section 2(b).

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

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

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

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

    	 	-4-	 

    	 	 

    

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

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

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

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

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

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

“Lead Securitization”
shall mean, if the First Securitization is the Note A-1 Securitization, such Securitization; provided that, if any other Securitization
occurs prior to the Note A-1 Securitization, then the First Securitization shall be the Lead Securitization until such time as the Note
A-1 Securitization occurs.

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

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

“Lead Securitization
Note Holder Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Lead Securitization
Servicing Agreement.

    	 	-5-	 

    	 	 

    

“Lead Securitization
Servicing Agreement” shall mean, as of any date of determination, (i) the pooling and servicing agreement or other comparable
agreement that governs the Securitization that is then the Lead Securitization, and (ii) on and after the date on which the Mortgage
Loan is no longer subject to the provisions of agreement described in clause (i), the Lead Securitization Servicing Agreement shall be
determined in accordance with the second paragraph of Section 2(a).

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

“Major Decision”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

“Master Servicer”
shall mean the master servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization
Servicing Agreement.

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

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

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

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

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of April 22, 2022, between the Mortgage Loan Borrower, as borrower, and
Wells Fargo Bank, National Association, as lender, as the same may be further amended, restated, supplemented or otherwise modified from
time to time, subject to the terms hereof.

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

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

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

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

“New Notes”
shall have the meaning assigned to such term in Section 32.

“Nonrecoverable
Advance” shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

    	 	-6-	 

    	 	 

    

“Non-Controlling
Note” means each Note other than Note A-1.

“Non-Controlling
Note Holder” means each holder of a Non-Controlling Note; provided that with respect to each Non-Controlling Note, at
any time such Non-Controlling Note is included in a Securitization, references to a “Non-Controlling Note Holder” herein
shall mean the holders of the majority of the class of securities issued in such Securitization designated as the “controlling
class” (or analogous term) or such other party otherwise assigned the rights to exercise the rights of a “Non-Controlling
Note Holder” under this Agreement or under the related Securitization Servicing Agreement, as and to the extent provided in the
related Securitization Servicing Agreement, and as to the identity of which the Controlling Note Holder (and, if applicable, the Master
Servicer and the Special Servicer) has been given written notice; provided, further that if at any time 50% or more of
any Non-Controlling Note (or class of securities issued in a Securitization into which such Non-Controlling Note has been deposited is
designated as the “controlling class”) is held by (or such other party otherwise assigned the rights to exercise the rights
of the “controlling class” under the related Securitization Servicing Agreement is) the Mortgage Loan Borrower or a Borrower
Party, no such Note Holder or other Person shall be entitled to exercise any rights of such Non-Controlling Note Holder under
this Agreement or the related Securitization Servicing Agreement, and there shall be deemed to be no Non-Controlling Note Holder with
respect to such Non-Controlling Note. The Controlling Note Holder and the Lead Securitization Note Holder (or, if applicable,
the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party
exercising the rights of a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing Agreement (it
being understood for the avoidance of doubt that the Lead Securitization Note Holder (or the Master Servicer or Special Servicer on its
behalf) may additionally need to deal with the master servicer, special servicer or other person party to the related Securitization
Servicing Agreement) and, (x) to the extent that the related Securitization Servicing Agreement assigns such rights to more than one
party or (y) to the extent the related Non-Controlling Note is split into two or more New Notes pursuant to Section 32 and notice
thereof is not provided to the Controlling Note Holder and the Lead Securitization Note Holder (or, if applicable, the Master Servicer
or the Special Servicer acting on its behalf), for purposes of this Agreement, such Securitization Servicing Agreement or the holders
of such New Notes shall designate one party to deal with the Controlling Note Holder and the Lead Securitization Note Holder (or, the
Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Controlling Note
Holder and the Lead Securitization Note Holder (or, the Master Servicer and the Special Servicer acting on its behalf); provided
that, in the absence of such designation and notice, the Controlling Note Holder and the Lead Securitization Note Holder (or, the Master
Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received written
notice as having been designated as the Non-Controlling Note Holder with respect to such Non-Controlling Note for all purposes of this
Agreement. As of the date hereof and until further notice from the Non-Controlling Note Holder (or, if applicable, the related Non-Lead
Master Servicer or another party acting on its behalf), the Initial Note A-2 Holder is the Non-Controlling Note Holder with respect to
Note A-2 and the Initial Note A-3 Holder is the Non-Controlling Note Holder with respect to Note A-3. If the Non-Controlling Note is
included in a Securitization, the related Securitization Servicing Agreement may contain additional limitations on the rights of the
designated party entitled to exercise the rights of the “Non-Controlling Note Holder” hereunder if such designated

    	 	-7-	 

    	 	 

    

party is the Mortgage Loan Borrower or if
it has certain relationships with the Mortgage Loan Borrower.

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

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

“Non-Lead Asset
Representations Reviewer” shall mean the “Asset Representations Reviewer” (or similarly named Person that is the
“asset representations reviewer” as defined in Item 1101(m) of Regulation AB.) under any Non-Lead Securitization Servicing
Agreement.

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

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

“Non-Lead
Operating Advisor” shall mean the “trust advisor,” “senior trust advisor,” “operating advisor”
(or other analogous Person) under any Non-Lead Securitization Servicing Agreement. 

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

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

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

“Non-Lead Securitization
Note Holder Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Non-Lead
Securitization Servicing Agreement.

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

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

    	 	-8-	 

    	 	 

    

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

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

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

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

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

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

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

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

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

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

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

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

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

“Note A-3 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-3 Principal Balance
set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution

    	 	-9-	 

    	 	 

    

thereof) received by the Note A-3 Holder (or
any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

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

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

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

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

“Note Principal
Balance” shall mean, (i) with respect to Note A-1, the Note A-1 Principal Balance, (ii) with respect to Note A-2, the Note
A-2 Principal Balance and (iii) with respect to Note A-3, the Note A-3 Principal Balance.

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

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

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

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

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

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

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

“Pro Rata and Pari
Passu Basis” shall mean with respect to the Notes and the Note Holders, the allocation of any particular payment, collection,
cost, expense, liability or other amount between such Notes or such Note Holders, as the case may be, without any priority of any such
Note or any such Note Holder over another such Note or Note Holder, as the case may

    	 	-10-	 

    	 	 

    

be, and in any event such that each Note or
Note Holder, as the case may be, is allocated its respective Percentage Interest of such particular payment, collection, cost, expense,
liability or other amount.

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

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

(b)              
one or more of the following:

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

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

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

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

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

    	 	-11-	 

    	 	 

    

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

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

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

(c)              
any entity Controlled by any of the entities described in clause (b)(i), (ii), (iv)(B) or (v) above or subject to a Rating
Agency Confirmation as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating Agencies engaged to rate
the securities for any Securitization.

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

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

    	 	-12-	 

    	 	 

    

Agencies” or “Rating
Agency” shall mean only those rating agencies that are engaged by the related depositor (or its Affiliate) from time to time
to rate the securities issued in connection with the Securitizations of the related Notes.

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing (which may be in electronic form) by
each of the applicable Rating Agencies for such Securitization 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 securities
of such Securitization (if then rated by such Rating Agency); provided that a written waiver or other acknowledgment from any
such 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. If no such securities
are outstanding with respect to any Securitization, any action that would otherwise require a Rating Agency Confirmation shall instead
require the consent of the Controlling Note Holder, which consent shall not be unreasonably withheld, conditioned or delayed.

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

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

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

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

“Remittance Date”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii)
in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer,
(iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included in a commercial
mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date of determination,
and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any
class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial
mortgage loans, (iv) in the case of KBRA, such special servicer is acting as special servicer for one or more loans included in a commercial
mortgage

    	 	-13-	 

    	 	 

    

loan securitization that was rated by KBRA,
within the twelve (12) month period prior to the date of determination, and KBRA has not cited servicing concerns of such special servicer
as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the
time of determination and (v) in the case of DBRS Morningstar, has a current ranking from DBRS Morningstar of at least MORS3 or, if not
rated by DBRS Morningstar, is currently acting as servicer or special servicer, as applicable, for a commercial mortgage-backed securities
transaction rated by DBRS Morningstar and as to which DBRS Morningstar has not cited servicing concerns with respect to such servicer
as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a ratings downgrade or withdrawal, which placement on “watch status” has not been withdrawn within 60
days without any ratings downgrade or withdrawal) of securities in such commercial mortgage-backed securities transaction serviced by
the applicable servicer prior to the time of determination.

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

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

“Securitization
Date” shall mean the effective date of the First Securitization.

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

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

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

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

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

“Servicer Termination
Event” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

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

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

    	 	-14-	 

    	 	 

    

“Special Servicer”
shall mean the special servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization
Servicing Agreement.

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

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

“Trust Fund”
shall mean the trust formed pursuant to the Lead Securitization Servicing Agreement.

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

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

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

Section 2.               
Servicing of the Mortgage Loan.

(a)              
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from
and after the Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead
Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal
or interest in respect of any Note other than the Lead Securitization Note (unless such other Note is also included in the Lead Securitization)
if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to make Servicing Advances, subject to
the terms of the Lead Securitization Servicing Agreement; provided further that the Special Servicer, when appointed, has the
Required Special Servicer Rating from each Rating Agency then rating a Securitization. The Lead Securitization Servicing Agreement shall
contain terms and conditions that are customary for securitization transactions involving assets similar to the Mortgage Loan and that
are otherwise (i) required by the Code relating to the tax elections of any Securitization Trust, (ii) required by law or changes in
any law, rule or regulation or (iii) generally required by the Rating Agencies in connection with the issuance of ratings in securitizations
similar to the Securitizations. Each Note Holder acknowledges that each other Note Holder may elect, in its sole discretion, to include
its Note

    	 	-15-	 

    	 	 

    

in a Securitization and agrees that it will,
subject to Section 26 hereof, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense,
to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally
consents to the appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement by the Depositor
and the appointment of the Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate with the Master Servicer
and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing Agreement.
Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s
attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing of the Mortgage Loan on its
behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of such Note Holder set forth herein and
in the Lead Securitization Servicing Agreement). In no event shall the Lead Securitization Servicing Agreement require any Servicer to
enforce the rights of any Note Holder against any other Note Holder or limit a Servicer in enforcing the rights of one Note Holder against
any other Note Holder; however, this statement shall not be construed to otherwise limit the rights of one Note Holder with respect to
any other Note Holder. Each Servicer shall (i) be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage
Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, (ii) provide information to each servicer under the Non-Lead Securitization Servicing Agreement to enable each such
servicer to perform its servicing duties, and (iii) not take any action or refrain from taking any action or follow any direction inconsistent
with the foregoing.

At any time after the First
Securitization that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note
Holders agree to cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders,
pursuant to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided,
that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each other
Rating Agency with respect to any such Non-Lead Securitization Note regarding any Special Servicer to be appointed under such replacement
servicing agreement that does not have the Required Special Servicer Rating for such Rating Agency or, with respect to the Master Servicer,
would not otherwise meet the conditions to be a servicer under the Lead Securitization Servicing Agreement that is being replaced; provided,
further, that until a replacement servicing agreement has been entered into, the Lead Securitization Note Holder shall cause the
Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing Agreement, as if such agreement were still
in full force and effect with respect to the Mortgage Loan, by the Servicers in the Lead Securitization or by any Person appointed by
the Lead Securitization Note Holder that is a Person meeting the requirements of a master servicer under the Lead Securitization Servicing
Agreement and, in the case of the Special Servicer, that meets the Required Special Servicer Rating for each Rating Agency then rating
securities of a Non-Lead Securitization.

    	 	-16-	 

    	 	 

    

(b)              
 The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee or the Special
Servicer, to the extent provided in the Lead Securitization Servicing Agreement) shall make the following advances, subject to the terms
of the Lead Securitization Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage Loan and (ii) P&I Advances
on the Lead Securitization Note. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement
for a Servicing Advance, first from funds on deposit in the Collection Account and/or the Companion Distribution Account for the
Mortgage Loan that (in any case) represent amounts received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable
Advances, if such funds on deposit in the Collection Account or Companion Distribution Account are insufficient, from general collections
of the Lead Securitization as provided in the Lead Securitization Servicing Agreement. The Master Servicer, the Special Servicer and
the Trustee, as applicable, shall be entitled to reimbursement for Advance Interest on a Servicing Advance (including any Nonrecoverable
Advance), in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections
of the Lead Securitization. Notwithstanding the foregoing, to the extent the Master Servicer, the Special Servicer or the Trustee, as
applicable, obtains funds from general collections of the Lead Securitization as a reimbursement of a Servicing Advance that is a Nonrecoverable
Advance or any Advance Interest on a Servicing Advance (including any Nonrecoverable Advance), each Non-Lead Securitization Note Holder
(including any Securitization Trust into which a Non-Lead Securitization Note is deposited) shall be required to, promptly following
notice from the Master Servicer, reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Advance or Advance
Interest.

In addition, each Non-Lead
Securitization Note Holder (including, but not limited to, any Securitization Trust into which a Non-Lead Securitization Note is deposited)
shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for such Non-Lead Securitization
Note Holder’s pro rata share of any fees, costs or expenses incurred in connection with the servicing and administration
of the Mortgage Loan as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor, the Asset Representations Reviewer or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization
Servicing Agreement, to the extent amounts on deposit in the Companion Distribution Account or Collection Account in respect of the Mortgage
Loan are insufficient for reimbursement of such amounts. Each Non-Lead Securitization Note Holder shall indemnify (as and to the same
extent the Lead Securitization Trust is required to indemnify each of the following parties in respect of other mortgage loans in the
Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement) each of the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, Asset Representations Reviewer and the Depositor (and any
director, officer, employee or agent of any of the foregoing, to the extent such parties are identified as indemnified parties in the
Lead Securitization Servicing Agreement in respect of other mortgage loans) (the “Indemnified Parties”) against any
claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses
incurred in connection with servicing and administration of the Mortgage Loan (or, with respect to the Operating Advisor and the Asset
Representations Reviewer, incurred in connection with the provision of services for the Mortgage Loan) under the Lead Securitization

    	 	-17-	 

    	 	 

    

Servicing Agreement (collectively, the “Indemnified
Items”) to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Companion
Distribution Account or Collection Account in respect of the Mortgage Loan, as applicable, are insufficient for reimbursement of such
amounts, each Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer, reimburse
each of the applicable Indemnified Parties for its pro rata share of the insufficiency; provided, however, that
each Non-Lead Securitization Note Holder’s obligation to pay Indemnified Items to the Operating Advisor shall be subject to any
limitations and conditions (including limitations and conditions with respect to the timing of such payments and the sources of funds
for such payments) as may be set forth from time to time in a related Non-Lead Securitization Servicing Agreement.

Any
Non-Lead Master Servicer (or if not made by such Non-Lead Master Servicer, the Non-Lead Trustee) may be required to make P&I Advances
on the related Non-Lead Securitization Note, from time to time, subject to the terms of the related servicing agreement for the related
Securitization (each such agreement, a “Non-Lead Securitization Servicing Agreement”) and this Agreement. The Master
Servicer, the Special Servicer and the Trustee, as applicable, shall each be entitled to make its own recoverability determination with
respect to a P&I Advance to be made on the Lead Securitization Note based on the information that it has on hand and in accordance
with the Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer, Non-Lead Special Servicer and Non-Lead Trustee under
the related Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to make their own recoverability determination
with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand
and in accordance with the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the related
Non-Lead Master Servicer or the related Non-Lead Trustee shall be required to notify the other of the amount of its P&I Advance within
two Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to
the Lead Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or a Non-Lead Trustee, as applicable (with respect
to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I
Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines
that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable, then the
Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability
by the Master Servicer, the Special Servicer or the Trustee) or the related Non-Lead Master Servicer or the related Non-Lead Trustee
(as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the
related Non-Lead Master Servicer, the related Non-Lead Special Servicer or the related Non-Lead Trustee) shall notify the Master Servicer
and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as the case may be, of the other Securitization within two
Business Days of making such determination. Each of the Master Servicer, the Trustee, a Non-Lead Master Servicer and a Non-Lead Trustee,
as applicable, will only be entitled to reimbursement for a P&I Advance that becomes non-recoverable first from the Companion
Distribution Account from amounts allocable to the Note for which such P&I Advance was made, and then, if funds

    	 	-18-	 

    	 	 

    

are insufficient, (i) in the case of the Lead
Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing
Agreement and (ii) in the case of a Non-Lead Securitization Note, from general collections of the Securitization Trust that owns such
Non-Lead Securitization Note, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.

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

(i)           
the Master Servicer shall remit all payments received with respect to each Non-Lead Securitization Note, net of the primary servicing
fee payable to the Master Servicer and servicing fees payable to the Special Servicer with respect to such Non-Lead Securitization Note,
and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the Non-Lead
Securitization Note Holder by the earlier of (x) the Remittance Date and (y) the Business Day following the “determination date”
(or any term substantially similar thereto) as defined in the Non-Lead Securitization Servicing Agreement (such determination date, the
“Non-Lead Securitization Determination Date”), in each case as long as the date on which remittance is required under
this clause (i) is at least one business day after the scheduled monthly payment date under the Loan Agreement, provided,
that any late collections received by the Master Servicer after the related due date under the Mortgage Loan shall be remitted by the
Master Servicer in accordance with clause (c)(xiii) below;

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

(iii)           
the Master Servicer and Special Servicer, as applicable, shall provide (in electronic media) to each Non-Controlling Note Holder
all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information regarding the Mortgage
Loan that it has provided, or that it is required to provide, to the Controlling Note Holder or the Operating Advisor in connection with
any request for consent made to, or consultation with, the Non-Controlling Note Holder;

(iv)           
the Non-Lead Securitization Note Holder shall be entitled to the same indemnity as the Lead Securitization Note Holder under the
Lead Securitization

    	 	-19-	 

    	 	 

    

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

(v)           
with respect to any Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange Act
(including Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the Trustee, the Certificate
Administrator or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause
each other servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained
or engaged by it to deliver; provided that such party shall only be required to use commercially reasonable efforts to cause a Mortgage
Loan Seller Sub-Servicer to deliver), to the Non-Lead Depositor and the Non-Lead Trustee, in a timely manner, (i) the reports, certifications,
compliance statements, accountants’ assessments and attestations, and all information to be included in reports (including, without
limitation, Form ABS 15G, Form 10-K, Form 10-D and Form 8-K), and (ii) upon request, any other materials specified in the Non-Lead Securitization
Servicing Agreement, in the case of clauses (i) and (ii), as the parties to each Non-Lead Securitization may reasonably require in order
to comply with their obligations under the Securities Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and
(b) without limiting the generality of the foregoing, the Initial Note Holder of the Lead Securitization Note shall provide in a timely
manner to the Non-Lead Depositor and the Non-Lead Trustee, if any, a copy of the Lead Securitization Servicing Agreement in EDGAR-compatible
format (but not later than one business day following the closing date of the Lead Securitization) and each Servicer under the Lead Securitization
Servicing Agreement will be required, upon prior written request, to provide to the Non-Lead Depositor and the Non-Lead Trustee, if any,
any other information required to comply in a timely manner with applicable filing requirements under Items 1.01 and 6.02 of Form 8-K,
any other disclosure information required pursuant to Regulation AB, in each case in a timely manner for inclusion in any disclosure
document (or for filing under Form 8-K, as applicable), and with respect to such Servicers, upon prior written request,

    	 	-20-	 

    	 	 

    

market indemnification agreements, opinions
and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization (in each case at the expense
of the Non-Lead Securitization Note Holder). The Master Servicer, any primary servicer and the Special Servicer shall each be required
to provide certification and indemnification to each Certifying Person with respect to the Sarbanes-Oxley Certification (or analogous
terms) as such terms are defined in the Non-Lead Securitization Servicing Agreement;

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

(vii)           
each Non-Lead Securitization Note Holder (unless it is a Borrower Party) is an intended third-party beneficiary in respect of
the rights afforded it under the Lead Securitization Servicing Agreement;

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

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

    	 	-21-	 

    	 	 

    

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

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

(xii)           
in connection with (A) any amendment of the Lead Securitization Servicing Agreement, a party to such Lead Securitization Servicing
Agreement is required to provide a copy of the executed amendment to each Non-Lead Depositor and one or more parties to the related Non-Lead
Securitization Servicing Agreement (which may be by e-mail), together with a copy of such amendment in electronic format, no later than
the effective date of such amendment, and (B) the termination, resignation and/or replacement of the Master Servicer or Special Servicer
under the Lead Securitization Servicing Agreement, the replacement “master servicer” or replacement “special servicer”,
as applicable, is required to provide to each Non-Lead Depositor and one or more parties to the related Non-Lead Securitization Servicing
Agreement all disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof;

(xiii)           
any late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to a Non-Lead Securitization
Note or reimbursable to a Non-Lead Master Servicer or a Non-Lead Trustee shall be remitted by the Master Servicer to the related Non-Lead
Master Servicer within one (1) Business Day of receipt of properly identified and available funds constituting such late collections;
provided, however, that to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master
Servicer shall use commercially reasonable efforts to

    	 	-22-	 

    	 	 

    

remit such late collections to such
Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified and available funds but, in any event, the Master
Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified and available funds;

(xiv)           
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement
provided that in no event shall 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 this 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;

(xv)           
the primary servicing, special servicing, workout and liquidation fee rates shall not exceed 0.0025%, 0.25%, 1.00% and 1.00%,
respectively, subject to any market minimum amounts and fee offsets set forth in the Lead Securitization Servicing Agreement;

(xvi)           
each Lead Securitization Servicing Agreement shall also satisfy Moody’s rating methodology as of the closing date of the
Lead Securitization Servicing Agreement for eligible accounts and permitted investments for a securitization rated “Aaa”
by Moody’s;

(xvii)           
the Servicing Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in
servicing the Mortgage Loan, must take into account the interests of each Note Holder; and

(xviii)           
the holder of the Lead Securitization Note shall:

(i)           
on, or within a timely manner following, the closing date of the Lead Securitization, provide notice of the closing of the Lead
Securitization and send (or provide for access through a financial printer together with notice (which may be by email) and contact information
therefor) a copy (in EDGAR-compatible format) of the Lead Securitization Servicing Agreement to each other Note Holder; and

(ii)           
give each other Note Holder written notice in a timely manner (but no later than one (1) business day prior to the applicable
filing date) of any re-filing (other than a filing made in connection with a formal amendment of the Lead Securitization Servicing Agreement)
by the Depositor of the Lead Securitization Servicing Agreement subsequent to the Securitization Date if such filing contains revisions
or changes that are material to the other Note Holders.

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

    	 	-23-	 

    	 	 

    

(i)           
 such Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Advances relating
to Servicing Advances (and Advance Interest thereon) and any additional expenses of the Trust Fund, but only to the extent that such
expenses relate to servicing and administration of the Notes, including without limitation, any unpaid Special Servicing Fees, Liquidation
Fees and Workout Fees relating to the Notes, and that in the event that amounts on deposit in the Companion Distribution Account or Collection
Account in respect of the Mortgage Loan, as applicable, are insufficient for reimbursement of such amounts, the related Non-Lead
Master Servicer will be required to, promptly following notice from the Master Servicer, reimburse the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, out of general collections in the collection account (or equivalent account)
established under the Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s pro rata
share of any such Nonrecoverable Advances and/or additional expenses of the Trust Fund;

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

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

    	 	-24-	 

    	 	 

    

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

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

(f)               
The Lead Securitization Note Holder agrees that, if a Non-Lead Securitization Note is included in a Securitization, and such Non-Lead
Securitization is subject to reporting requirements under Regulation AB, the Master Servicer, the Special Servicer, the Trustee and the
Custodian shall be required to reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection with such Non-Lead
Asset Representations Reviewer’s obligations under any Non-Lead Securitization Servicing Agreement with respect to the Mortgage
Loan by providing any documents reasonably requested by the Non-Lead Asset Representations Reviewer or other requesting party in connection
with the Non-Lead Asset Representations Reviewer’s obligations, but only to the extent such documents are in the possession of
the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, but in any event excluding any documents
known to such the Master Servicer, the Special Servicer, the Trustee or the Custodian to contain information that is proprietary to the
related originator or Initial Note Holders or any draft documents or privileged or internal communications. The reasonable out-of-pocket
expenses of the Master Servicer, Special Servicer, the Trustee and the Custodian actually incurred in connection with their compliance
with such requests shall be reimbursable by the Non-Lead Asset Representations Reviewer or, if not paid by the Non-Lead Asset Representations
Reviewer, the Non-Lead Securitization Note Holder.

    	 	-25-	 

    	 	 

    

Section 3.               
Priority of Payments.

(a)              
Each Note shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of any other
Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to
or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form
of Periodic Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or
instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements to be applied
to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the
Mortgage Loan Documents) shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata and Pari
Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents to be held
as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection expenses or Servicing
Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall
be applied to the extent set forth in, and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that
are then due, payable or reimbursable to any Servicer, with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing
Agreement and any other compensation payable to it thereunder (including without limitation, any additional expenses of the Trust Fund
relating to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof) reimbursable to, or payable by, such parties
and any Special Servicing Fees, Liquidation Fees, Workout Fees and Penalty Charges (to the extent provided in the immediately following
paragraph) but excluding (i) any P&I Advances (and interest thereon) on the Lead Securitization Note, which shall be reimbursed in
accordance with Section 2(b) hereof, and (ii) any Master Servicing Fees due to the Master Servicer in excess of the Non-Lead Securitization
Note’s pro rata share of that portion of such servicing fees calculated at the “primary servicing fee rate” applicable
to the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement, which such excess shall not be subject to the allocation
provisions of this Section 3) shall be payable in accordance with the Lead Securitization Servicing Agreement.

For clarification purposes,
Penalty Charges paid on each Note shall first, be used to reduce, on a pro rata basis, the amounts payable on each Note
by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances
and reimbursement of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second,
be used to reduce the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, the Non-Lead
Master Servicer or the Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by such party
(if and as specified in the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement, as applicable),
third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay additional
expenses of the Trust Fund (including, if not paid by the Mortgage Loan Borrower, Special Servicing Fees, unpaid Workout Fees and Liquidation
Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement)

    	 	-26-	 

    	 	 

    

and finally, shall be paid to the Master
Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement.

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

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

Section 5.               
Administration of the Mortgage Loan.

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

    	 	-27-	 

    	 	 

    

forth herein or its obligation to follow
the Servicing Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do so).

Each Note Holder hereby
acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization
Note Holder), upon the Mortgage Loan becoming a Defaulted Loan to sell the Notes together as notes evidencing one whole loan in accordance
with the terms of the Lead Securitization Servicing Agreement and shall require that all offers be submitted to the Special Servicer
in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by the Special Servicer, if the
highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person. Absent
an offer at least equal to the Purchase Price, no offer from an Interested Person shall constitute a fair price unless (i) it is the
highest offer received and (ii) at least two other offers are received from independent third parties. In determining whether any offer
from an Interested Person received represents a fair price for the Mortgage Loan, the Trustee shall rely on the most recent Appraisal
(or update of such Appraisal) conducted in accordance with the Lead Securitization Servicing Agreement within the preceding nine (9)-month
period or, in the absence of any such Appraisal, on a new Appraisal. In determining whether any such offer from a Person other than an
Interested Person constitutes a fair price for the Mortgage Loan, the Special Servicer shall take into account (in addition to the results
of any Appraisal or updated Appraisal or narrative appraisal that it may have obtained within the prior nine (9) months pursuant to the
Lead Securitization Servicing Agreement) among other factors, the period and amount of the occupancy level and physical condition of
the Mortgaged Property and the state of the local economy. Except as provided in the following paragraph, the cost of any Appraisal will
be covered by, and will be reimbursable as, a Servicing Advance by the Master Servicer. Notwithstanding the foregoing, the Lead Securitization
Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) shall not be permitted to sell the Mortgage
Loan without the written consent of each Non-Lead Securitization Note Holder (provided that such consent is not required if the
related Non-Lead Securitization Note is held by a Borrower Party) unless the Special Servicer has delivered to such Non-Lead Securitization
Note Holder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten
(10) days prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received by
the Special Servicer in connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of
the most recent appraisal for the Mortgage Loan, and any documents in the servicing file reasonably requested by such Non-Lead Securitization
Note Holder that are material to the sale price of the Mortgage Loan and (d) until the sale is completed, and a reasonable period of
time (but no less time than is afforded to other offerors and the Lead Securitization Note Holder Representative) prior to the proposed
sale date, all information and other documents being provided to other offerors and all leases or other documents that are approved by
the Master Servicer or the Special Servicer in connection with the proposed sale; provided, however, that such Non-Lead
Securitization Note Holder may waive any delivery or timing requirements set forth in this sentence only for itself. Subject to the foregoing,
each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling Note Holders and the Non-Controlling
Note Holder Representatives shall be permitted to submit an offer at any sale of the Mortgage Loan (unless such Person is a Borrower
Party).

    	 	-28-	 

    	 	 

    

Notwithstanding anything
contained in the preceding paragraph to the contrary, 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
loans similar to the Mortgage Loan, that has been selected with reasonable care by the Trustee to determine if such cash offer constitutes
a fair price for the Mortgage Loan. If the Trustee designates such 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.

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

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

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The
servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage
Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization

    	 	-29-	 

    	 	 

    

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

(c)              
Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its
behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization
Note Holder Representative pursuant to the Lead Securitization Servicing Agreement (for this purpose, without regard to whether such
items are actually required to be provided to the Lead Securitization Note Holder Representative under the Lead Securitization Servicing
Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event or effectively equivalent period)
with respect to any Major Decision or the implementation of any recommended actions outlined in an Asset Status Report relating to the
Mortgage Loan, to a Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative), within the same
time frame it is required to provide to the Lead Securitization Note Holder Representative (for this purpose, without regard to whether
such items are actually required to be provided to the Lead Securitization Note Holder Representative under the Lead Securitization Servicing
Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event or effectively equivalent period,
but subject to any limitations in the Lead Securitization Servicing Agreement regarding providing such information to the Mortgage Loan
Borrower or those who have certain relationships with the Mortgage Loan Borrower) and (ii) to consult with each Non-Controlling Note
Holder (or its Non-Controlling Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices,
information and reports, such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with
respect to any such Major Decision or the implementation of any recommended actions outlined in an Asset Status Report relating to the
Mortgage Loan, and consider alternative actions recommended by such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative);
provided that after the expiration of a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder
(or its Non-Controlling Note Holder Representative) by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) of written notice of a proposed action, together with copies of the notice, information and report required to
be provided to the Lead Securitization Note Holder Representative, the Lead Securitization Note Holder (or the Master Servicer or the
Special Servicer acting on its behalf) shall no longer be obligated to consult with such Non-Controlling

    	 	-30-	 

    	 	 

    

Note Holder (or its Non-Controlling Note
Holder Representative) (unless, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf)
proposes a new course of action that is materially different from the action previously proposed, in which case such ten (10) Business
Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding
the consultation rights of each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) set forth in the immediately
preceding sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) may make any Major
Decision or any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period
if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines that immediate action with
respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization Note Holder (or
Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative actions recommended
by a Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

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

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

    	 	-31-	 

    	 	 

    

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

Section 6.               
Rights of the Controlling Note Holder and Non-Controlling Note Holders.

(a)              
The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its
rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”). The Controlling
Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling Note
Holder Representative. When exercising its various rights under Section 5 and elsewhere in this Agreement, the Controlling Note
Holder may, at its option, in each case, act through the Controlling Note Holder Representative. The Controlling Note Holder Representative
may be any Person (other than a Borrower Party), including, without limitation, the Controlling Note Holder, any officer or employee
of the Controlling Note Holder, any Affiliate of the Controlling Note Holder or any other unrelated third party. No such Controlling
Note Holder Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling Note Holder). All
actions that are permitted to be taken by the Controlling Note Holder under this Agreement may be taken by the Controlling Note Holder
Representative acting on behalf of the Controlling Note Holder. No Servicer, Certificate Administrator or Trustee acting on behalf of
the Lead Securitization Note Holder shall be required to recognize any Person as a Controlling Note Holder Representative until the Controlling
Note Holder has notified each Servicer, Certificate Administrator and Trustee of such appointment and, if the Controlling Note Holder
Representative is not the same Person as the Controlling Note Holder, the Controlling Note Holder Representative provides each Servicer,
Certificate Administrator and Trustee with written confirmation of its acceptance of such appointment (and such parties will be entitled
to rely on such notice), an address and facsimile number for the delivery of notices and other correspondence and a list of officers
or employees of such person with whom the parties to this Agreement may deal (including their names, titles, work addresses and facsimile
numbers). The Controlling Note Holder shall promptly deliver such information to any Servicer, Certificate Administrator and Trustee.
The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current Controlling Note Holder Representative.

Neither the Controlling
Note Holder Representative nor the Controlling Note Holder, in such capacity, will have any liability to the other Note Holders or any
other Person for any action taken, or for refraining from the taking of any action or the giving of any consent or the failure to give
any consent pursuant to this Agreement or the Lead Securitization

    	 	-32-	 

    	 	 

    

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

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

Each Non-Controlling Note
Holder (if it is not the Lead Securitization Note Holder) shall provide notice of its identity and contact information (including any
change thereof) to the Trustee, Certificate Administrator, the Master Servicer and the Special Servicer; provided, that each Initial
Note Holder shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator, the Master Servicer
and the Special Servicer under the Lead Securitization Servicing Agreement shall be entitled to conclusively rely on such identity and
contact information received by it and shall not be liable in respect of any deliveries hereunder sent in reliance thereon. The Non-Controlling
Note Holder Representative with respect to the Non-Controlling Notes, as of the date of this Agreement and until the Lead Securitization
Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise, shall be the Initial Note A-2 Holder, with respect
to Note A-2, and the Initial Note A-3 Holder with respect to Note-3.

(c)              
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note Holder hereunder
and the rights and powers granted to the “Directing Holder,” “Controlling Class Certificateholder,” “Controlling
Class Representative” or similar party under, and as defined in, the Lead Securitization Servicing

    	 	-33-	 

    	 	 

    

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

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

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

No objection, consent, direction
or advice contemplated by the preceding paragraphs may, and neither the Master Servicer nor Special Servicer shall take any action that
would (i) require or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision of the Mortgage Loan
Documents, applicable law, the Lead Securitization Servicing Agreement, this Agreement, the REMIC Provisions or the Master Servicer or
Special Servicer’s obligation to act in accordance with the Servicing Standard or (ii) result in the imposition of a tax on any
Trust REMIC under the REMIC Provisions or cause any REMIC Pool to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes, (iii) expose the Master Servicer,
the Special Servicer, the Certificate Administrator, the Operating Advisor, the Depositor, the Asset Representations Reviewer, the Trust
or the Trustee or any of their respective Affiliates, officers, directors, shareholders, partners, members, managers, employees or agents
to

    	 	-34-	 

    	 	 

    

any claim, suit, or liability for which this
Agreement or the Lead Securitization Servicing Agreement does not provide indemnification to such party or expose any such party to prosecution
for a criminal offense, (iv) materially expand the scope of responsibilities of any of the Master Servicer, Special Servicer, the Certificate
Administrator, the Asset Representations Reviewer, the Trustee or the Operating Advisor, as applicable, under this Agreement or the Lead
Securitization Servicing Agreement.

Section 7.               
Appointment of Special Servicer. Subject to the conditions and requirements set forth in the Lead Securitization Servicing
Agreement, the Controlling Note Holder shall have the right at any time and from time to time, with or without cause, to replace the
Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer in lieu thereof. Any designation
by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to serve as Special Servicer shall be made
by delivering to the other Note Holder, the Master Servicer, the then existing Special Servicer and other parties to the Lead Securitization
Servicing Agreement a written notice stating such designation and satisfying the other conditions to such replacement as set forth in
the Lead Securitization Servicing Agreement (including, without limitation, a Rating Agency Confirmation, but only if required by the
terms of the Lead Securitization Servicing Agreement), and delivering to each Non-Controlling Note Holder a Rating Agency Confirmation
with respect to any rated securities issued and outstanding under the related Securitization if such replacement Special Servicer does
not meet the Required Special Servicer Rating with respect to those Rating Agencies rating the securities of any Securitization related
to a Non-Controlling Note Holder. The Controlling Note Holder shall be solely responsible for any expenses incurred in connection with
any such replacement without cause. The Controlling Note Holder shall notify the Non-Controlling Note Holders of its termination of the
then currently serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7. If the
Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of the securitization
under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing
Agreement shall serve as the initial Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling
Note Holder Representative) to designate a replacement Special Servicer for the Mortgage Loan as aforesaid. If a Servicer Termination
Event on the part of the Special Servicer has occurred that affects a Non-Controlling Note Holder, such Non-Controlling Note Holder shall
have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling
Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage
Loan pursuant to and in accordance with the terms of the Lead Securitization Servicing Agreement. The Note Holders acknowledge and agree
that any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for
cause at a Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that was so terminated
without the prior written consent of such Non-Controlling Note Holder. Upon the occurrence of such a Servicer Termination Event with
respect to the Master Servicer that affects a Non-Lead Securitization Note Holder, and the Master Servicer is not otherwise terminated
pursuant to the Lead Securitization Servicing Agreement, the Trustee or the Master Servicer shall, upon the direction of the affected
Non-Lead Securitization Note Holder, require the appointment of a subservicer with respect to the

    	 	-35-	 

    	 	 

    

Mortgage Loan. The Non-Controlling Note
Holder that directs the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling
Note Holder) to terminate the Special Servicer shall be solely responsible for reimbursing the Trustee’s or the Controlling Note
Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer and, in the
case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Collection Account under the Lead
Securitization Servicing Agreement.

Section 8.               
Payment Procedure.

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

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

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

(d)              
Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this
Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note

    	 	-36-	 

    	 	 

    

Holder shall have the right to offset
any amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due
to such Non-Lead Securitization Note Holder under the Mortgage Loan. A Non-Lead Securitization Note Holder’s obligations under
this Section 8 constitute absolute, unconditional and continuing obligations.

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

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

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

    	 	-37-	 

    	 	 

    

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

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

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

Section 13.           
Other Business Activities of the Note Holders. Each Note Holder acknowledges that the other Note Holder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, a Borrower Party, any entity

    	 	-38-	 

    	 	 

    

that is a holder of debt secured by direct
or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder of a preferred equity interest in the Mortgage
Loan Borrower, and receive payments on such other loans or extensions of credit to any such party and otherwise act with respect thereto
freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

Section 14.           
Sale of the Notes.

(a)              
Except as contemplated by the second following sentence, each Note Holder agrees that it will not sell, assign, transfer, pledge,
syndicate, hypothecate, contribute, encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”)
except to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after the Transfer (other than a
Transfer to a Securitization Trust), the non-transferring Note Holder(s) shall be provided with (x) a representation from a transferee
or the applicable Note Holder certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer in
accordance with the immediately following sentence) and (y) a copy of the assignment and assumption agreement referred to in Section 15.
If a Note Holder intends to Transfer its respective Note, or any portion thereof, to an entity that is not a Qualified Institutional
Lender, it must first (a) obtain the consent of each non-transferring Note Holder and (b) if such non-transferring Note Holder’s
Note is held in a Securitization Trust, obtain a Rating Agency Confirmation from each Rating Agency then rating the securities of such
Securitization Trust. Notwithstanding the foregoing, without the non-transferring Note Holder’s prior consent (which will not be
unreasonably withheld), and, if such non-transferring Note Holder’s Note is held in a Securitization Trust, until a Rating Agency
Confirmation is obtained, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to
a Borrower Party and any such Transfer made without the prior consent of the non-transferring
Note Holder and Rating Agency Confirmation (if such non-transferring Note Holder’s Note is held in a Securitization Trust),
shall be absolutely null and void and shall vest no rights in the purported transferee; provided
that for the avoidance of doubt, transfers of any securities backed by a Note held in a Securitization Trust will not be subject
to the foregoing requirement and such transfers shall be governed by the terms of the Lead Securitization Servicing Agreement or any
related Non-Lead Securitization Servicing Agreement, as applicable. The transferring Note Holder agrees that it shall pay the
expenses of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee and any
Controlling Note Holder or Controlling Note Holder Representative) and all expenses relating to any Rating Agency Confirmation in connection
with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without the need to obtain the consent
of the other Note Holder or of any other Person or having to provide any Rating Agency Confirmation, to Transfer 49% or less (in the
aggregate) of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of
all of the Notes together, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer
by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage
Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan to a single member limited liability or limited partnership,
100% of the equity interest in which is owned directly or

    	 	-39-	 

    	 	 

    

indirectly, through one or more single
member limited liability companies or limited partnerships, by the Lead Securitization Trust.

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

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

    	 	-40-	 

    	 	 

    

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

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

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

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

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

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

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

    	 	-41-	 

    	 	 

    

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

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

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

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

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

    	 	-42-	 

    	 	 

    

STATE OF NEW YORK, THE FEDERAL COURTS
OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

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

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

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

Section 18.           
Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend or
modify this Agreement without first obtaining a Rating Agency Confirmation from each Rating Agency then rating any securities of any
Securitization; provided that no such Rating Agency Confirmation shall be required in connection with a modification (i) to cure
any ambiguity, to correct or supplement any provisions herein that may be defective or inconsistent with any other provisions herein
or with the Lead Securitization Servicing Agreement, or (ii) with respect to matters or questions arising under this Agreement, to make
provisions in this Agreement consistent with other provisions of this Agreement (including, without limitation, in connection with the
creation of New Notes pursuant to Section 32).

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

Section 20.           
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be an original, but all of which together shall constitute one and the same instrument, and the words “executed,”

    	 	-43-	 

    	 	 

    

“signed,” “signature”
and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement or document related to
this transaction shall include, in addition to manually executed signatures, images of manually executed signatures transmitted by facsimile
or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”) and other electronic
signatures (including, without limitation, any electronic sound, symbol, or process, attached to or logically associated with a contract
or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures and electronic
records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic
means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping
system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state
law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

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

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

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

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

(b)              
Each Non-Lead Securitization Note Holder shall and hereby agrees to indemnify the Lead Securitization Note Holder against and
hold the Lead Securitization Note Holder harmless from and against any Taxes, interest, penalties and attorneys’ fees and

    	 	-44-	 

    	 	 

    

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

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

Section 25.           
Custody of Mortgage Loan Documents. On and after the closing of the Lead Securitization, the originals of all of the Mortgage
Loan Documents (other than the originals of the Non-Lead Securitization Notes) shall be held by the Trustee through a

    	 	-45-	 

    	 	 

    

duly appointed custodian therefor, in
accordance with the terms of the Lead Securitization Servicing Agreement, on behalf of the registered holders of the Notes; provided
that if the First Securitization is not the Note A-1 Securitization, (i) the originals of all of the Mortgage Loan Documents (other
than the Notes not being deposited into the First Securitization) shall be transferred to and held by the Trustee (of the First Securitization)
through a duly appointed custodian therefor under the First Securitization, on behalf of the registered holders of the Notes, until the
closing of the Note A-1 Securitization, on which date, the originals of all of the Mortgage Loan Documents (other than the Notes not
being deposited into the Note A-1 Securitization) shall be transferred to and held in the name of the Trustee (by a duly appointed custodian
therefor) under the Note A-1 PSA on behalf of the registered holders of the Notes; and (ii) all Mortgage Loan Documents (other than the
Notes not being deposited into the Note A-1 Securitization) shall not be recorded or filed to reflect the name of the trustee under the
Securitization Servicing Agreement for the First Securitization (except to the extent specifically provided for in the Securitization
Servicing Agreement for the First Securitization).

Section 26.           
Cooperation in Securitization. Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to
include its Note in a Securitization. In connection with a Securitization and subject to the terms of the preceding sentence, at the
request of the related Securitizing Note Holder, the related Non-Securitizing Note Holder shall use reasonable efforts, at such Securitizing
Note Holder’s expense, to satisfy, and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage Loan
Borrower to satisfy, the market standards to which such Securitizing Note Holder customarily adheres or that may be reasonably required
in the marketplace or by the Rating Agencies in connection with such Securitization, including, entering into (or consenting to, as applicable)
any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with such Securitizing Note Holder in attempting
to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably
requested by the Rating Agencies to effect such Securitization; provided, that no Non-Securitizing Note Holder shall be required
to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith,
if such modification or amendment would (i) change the interest allocable to, or the amount of any payments due to or priority
of such payments to, such Non-Securitizing Note Holder or (ii) materially increase such Non-Securitizing Note Holder’s obligations
or materially decrease such Non-Securitizing Note Holder’s rights, remedies or protections. In connection with any Securitization,
each related Non-Securitizing Note Holder shall provide for inclusion in any disclosure document relating to such Securitization such
information concerning such Non-Securitizing Note Holder and its Note as the related Securitizing Note Holder reasonably determines to
be necessary or appropriate, and such Non-Securitizing Note Holder shall, at such Securitizing Note Holder’s expense, cooperate
with the reasonable requests of each Rating Agency and such Securitizing Note Holder in connection with such Securitization (including,
without limitation, reasonably cooperating with such Securitizing Note Holder (without any obligation to make additional representations
and warranties) to enable such Securitizing Note Holder to make all necessary certifications and deliver all necessary opinions (including
customary securities law opinions) in connection with the Mortgage Loan and such Securitization), as well as in connection with all other
matters and the preparation of any offering documents thereof and to review and respond reasonably promptly with respect to any

    	 	-46-	 

    	 	 

    

information relating to such Note Holder
and its Note in any Securitization document. Each Note Holder acknowledges that in connection with any Securitization, the information
provided by it in its capacity as a Non-Securitizing Note Holder to the related Securitizing Note Holder may be incorporated into the
offering documents for such Securitization. Each Securitizing Note Holder and each Rating Agency shall be entitled to rely on the information
supplied by, or on behalf of, each Non-Securitizing Note Holder.

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

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

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

Section 29.           
Certain Matters Affecting the Agent.

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

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

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

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

    	 	-47-	 

    	 	 

    

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

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

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

Section 30.           
Reserved.

Section 31.           
Resignation of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent,
reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization
is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. WFB, as
Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent,
at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with
the closing of a Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor Agent
under this Agreement in place of WFB or the master servicer of the First Securitization, as applicable, without any further notice or
other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement,
shall be deemed a termination or resignation of such Master Servicer as Agent under this Agreement, and any successor master servicer
shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without any further
notice or other action.

Section 32.           
Resizing. Notwithstanding any other provision of this Agreement, for so long as any Note Holder or an affiliate thereof
(each, an “Original Entity”) is the owner of a Note that is not included in a Securitization (each, an “Owned
Note”), such Original Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage
Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”) reallocating
the principal of the Owned Note to such New Notes; or severing the Owned Note into one or more further “component” notes
in the aggregate principal amount equal to the then outstanding principal balance of the Owned Note provided that (i) the aggregate
principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal of the Owned Note
prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments,
(iii) all Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject
to the terms of this Agreement, and (iv) the Original Entity holding the New Notes shall notify the Lead Securitization Note Holder,
the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and
principal amounts. Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement
(as discussed in Section 5), no Note may be modified or amended without the consent of its holder and the consent of the holder of the
other

    	 	-48-	 

    	 	 

    

Notes. In connection with the foregoing
(provided the conditions set forth in (i) through (iv) above are satisfied), the Master Servicer is hereby authorized and directed to
execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely
for the purpose of reflecting such reallocation of principal. If the Lead Securitization Note Holder so requests, the Original Entity
holding the New Notes shall (a) represent that the conditions set forth in (i) through (iv) have been satisfied and/or (b) deliver a
confirmation of the continued applicability of this Agreement to the New Notes. If the Controlling Note is involved in any resizing contemplated
by this Section 32, the applicable Note Holder shall be entitled to designate any one of the related New Notes as the Controlling Note,
and the definitions of “Controlling Note” and “Controlling Note Holder” shall be deemed to have been revised
accordingly. Any New Note that is created in a resizing contemplated by this Section 32 and that is not the Controlling Note shall be
deemed to be a Non-Controlling Note under this Agreement, the definitions of “Non-Controlling Note” and “Non-Controlling
Note Holder” shall be deemed to have been revised accordingly to include such New Notes, and the applicable Note Holders of such
Non-Controlling Notes shall have the same rights and responsibilities as all other Non-Controlling Note Holders.

 

 

[Signature Page Follows]

    	 	-49-	 

    	 	 

    

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

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Initial Agent and Initial Note A-1 Holder, Initial Note A-2 Holder and Initial Note A-3 Holder
	 	 
	 	 
	 	By:	/s/ Jeffrey L. Cirillo
	 		Name:  Jeffrey L. Cirillo
	 	 	Title: Managing Director

 

 

 

 

 

 

 

 

 

 

 

(Agreement Between Note Holders – Hilton Sandestin Beach Resort Mortgage Loan)

 

 

    	 	-50-	 

    	 	 

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

	Mortgage Loan Borrower:	Sandestin Beach
    Hotel, Ltd.
	Date of Mortgage Loan:	April 22, 2022
	Date of Notes:	April 22, 2022

     

	Original
    Principal Amount of Mortgage Loan:	$120,000,000.00
	Principal
    Amount of Mortgage Loan as of the date hereof:	$120,000,000.00
	Initial Note A-1 Principal
    Balance:	$76,000,000.00
	Initial Note A-2 Principal
    Balance:	$20,000,000.00
	Initial Note A-3 Principal
    Balance:	$24,000,000.00
	Location of Mortgaged Property:	Miramar, FL

    

	Initial Maturity Date:	May 11, 2032

 

 

    	 	A-1	 

    	 	 

    

EXHIBIT B

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

 

Wells Fargo Bank, National Association

30 Hudson Yards, 15th Floor

New York, New York 10001

Attention: A.J. Sfarra

Email: Anthony.sfarra@wellsfargo.com

with a copy to:

Troy Stoddard, Esq.

Senior Counsel

Wells Fargo Legal Department

401 South Tryon Street, 26th Floor

MAC D1050-266

Charlotte, North Carolina 28202

Email: troy.stoddard@wellsfargo.com

 

with a copy to (if by email):

 

troy.doll@alston.com and peter.mckee@alston.com

 

 

 

    	 	B-1	 

    	 	 

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

1.                 
AllianceBernstein

		2.	Annaly Capital Management

		3.	Apollo Real Estate Advisors

		4.	Archon Capital, L.P.

		5.	AREA Property Partners

		6.	Artemis Real Estate Partners

		7.	BlackRock, Inc.

		8.	Clarion Partners

		9.	Colony Northstar, Inc.

		10.	DLJ Real Estate Capital Partners

		11.	Dune Real Estate Partners

		12.	Eightfold Real Estate Capital, L.P.

		13.	Five Mile Capital Partners

		14.	Fortress Investment Group, LLC

		15.	Garrison Investment Group

		16.	H/2 Capital Partners LLC

		17.	Hudson Advisors

		18.	Investcorp International

		19.	iStar Financial Inc.

		20.	J.P. Morgan Investment Management Inc.

		21.	JER Partners

		22.	Lend-Lease Real Estate Investments

		23.	Libermax Capital LLC

		24.	LoanCore Capital

		25.	Lone Star Funds

		26.	Lowe Enterprises

		27.	Normandy Real Estate Partners

		28.	Och-Ziff Capital Management Group

		29.	Praedium Group

		30.	Raith Capital Partners, LLC

		31.	Rialto Capital Management LLC

		32.	Rialto Capital Advisors LLC

		33.	Rockpoint Group

		34.	Rockwood

		35.	RREEF Funds

		36.	Square Mile Capital Management

		37.	The Blackstone Group

		38.	The Carlyle Group

		39.	Torchlight Investors

		40.	Walton Street Capital, L.L.C.

    	 	C-1	 

    	 	 

    

		41.	Westbrook Partners

		42.	Wheelock Street Capital

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

 

 

    	 	C-2

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