Document:

Exhibit 4.18

 

EXECUTION VERSION

 

 

 

Bank of America Office Campus Building
600

 

CO-LENDER AGREEMENT

Dated as of October 18, 2017

between

LADDER CAPITAL FINANCE LLC

(Note A-1 Holder)

 

and

 

LADDER CAPITAL FINANCE LLC

(Note A-2 Holder)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	 

     

    

TABLE OF CONTENTS

Page

	1.   Definitions; Conflicts.	2
	2.   Servicing of the Mortgage Loan.	12
	3.   Priority of  Notes.	13
	4.   Workout.	14
	5.   Accounts; Payment Procedure.	14
	6.   Limitation on Liability.	15
	7.   Representations of the Holders.	15
	8.   Independent Analyses of each Holder.	16
	9.   No Creation of a Partnership or Exclusive Purchase Right.	16
	10.   Not a Security.	16
	11.   Other Business Activities of the Holders.	16
	12.   Transfer of Notes.	17
	13.   Exercise of Remedies by the Servicer.	19
	14.   Rights of the Directing Holder.	21
	15.   Appointment of Special Servicer.	22
	16.   Rights of the Non-Directing Holder.	23
	17.   Advances; Reimbursement of Advances.	24
	18.   Provisions Relating to Securitization.	25
	19.   Governing Law; Waiver of Jury Trial.	29
	20.   Modifications.	30
	21.   Successors and Assigns; Third Party Beneficiaries.	30
	22.   Counterparts.	30
	23.   Captions.	30
	24.   Notices.	30
	25.   Custody of Mortgage Loan Documents.	30

 

 

 

    	 	- i-	 

     

    

THIS CO-LENDER
AGREEMENT (the “Agreement”), dated as of October 18, 2017, is between LADDER CAPITAL FINANCE LLC, a Delaware
limited liability company (“LCF”), having an address at 345 Park Avenue, 8th Floor, New York, New
York 10154, as the holder of Note A-1 and LCF, as the holder of Note A-2.

W I T N E S S E T H:

WHEREAS, LCF has
made a mortgage loan in the original principal amount of $29,935,000.00 (the “Mortgage Loan”) to LBA Tract E
Jacksonville FL LLC (the “Borrower”) pursuant to a loan agreement between the Borrower, as borrower, and LCF,
as lender, dated as of May 23, 2017 (the “Loan Agreement”), which Mortgage Loan was evidenced by a single promissory
note in the original principal amount of $29,935,000.00 (the “Original Promissory Note”);

WHEREAS, the Mortgage
Loan is secured by a first mortgage lien (the “Mortgage”) on the Borrower’s fee interest in the property
known as Bank of America Tract E, located at Building 600, 9000 Southside Boulevard, Jacksonville, Florida (the “Mortgaged
Property”);

WHEREAS, on or about
September 15, 2017, the Original Promissory Note was split into two notes pursuant to a Note Splitter and Loan Agreement Modification
Agreement between the Borrower and LCF;

WHEREAS, the Mortgage
Loan is currently evidenced by two notes, Promissory Note A-1 in the original principal amount of $20,000,000.00 and Promissory
Note A-2 in the original principal amount of $9,935,000.00 (“Note A-1” and “Note A-2”
respectively and individually, each, a “Note” and collectively the “Notes”);

WHEREAS, LCF intends
to sell, transfer and assign all of its right, title and interest in and to Note A-1 to UBS Commercial Mortgage Securitization
Corp. (“UBSCMSC”), as depositor, pursuant to a Mortgage Loan Purchase Agreement dated as of September 29, 2017,
by and between UBSCMSC, as purchaser, and LCF, as seller, and UBSCMSC, as purchaser, intends to transfer its right, title and interest
in and to Note A-1 to Wilmington Trust, National Association, as trustee for the UBS Commercial Mortgage Trust 2017-C4 under a
pooling and servicing agreement, dated as of October 1, 2017 (the “Note A-1 PSA”), among UBSCMSC, as depositor,
Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Wells Fargo Bank,
National Association, as certificate administrator and Pentalpha Surveillance LLC, as operating advisor and as asset representations
reviewer (the “Note A-1 Securitization”);

WHEREAS, Note A-2
Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest in and to Note
A-2 to one or more depositors who will in turn transfer the same to one or more trusts as part of the securitization of one or
more mortgage loans; and

    	 	 	 

     

    

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

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

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

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

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loan or the Mortgaged Property
pursuant to the Note A-1 PSA or the Note A-2 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,
ten percent (10%) or more of the beneficial interests in such Person or (c) any other Person in which such Person or a Common
Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests. 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.

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

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

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

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

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

    	 	-2-	 

     

    

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

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

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

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

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

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

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

“CREFC®
Investor Reporting Package®” shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

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

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

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

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

    	 	-3-	 

     

    

Party, as defined in the applicable
Servicing Agreement, thereof shall be entitled to act as Directing Holder.

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

“Excluded
Amounts” shall mean:

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

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

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

but shall not include (A) any amounts
received in respect of any P&I Advances (and interest thereon), (B) any Servicing Fees due to the Master Servicer in excess
of the Servicing Fee calculated at the “primary servicing fee rate” set forth in the Servicing Agreement and (C) any
trustee fees.

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

“Holder”
shall mean the Note A-1 Holder and/or the Note A-2 Holder, as the context indicates.

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

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

“LCF”
shall mean Ladder Capital Finance LLC and its successors in interest.

“Lead Note”
shall mean Note A-1.

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

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

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

    	 	-4-	 

     

    

“Lead Securitization
Trust” shall mean the trust established under the Note A-1 PSA.

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

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

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

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

“Major Action”
shall have the meaning assigned to the term “Material Action,” “Major Action,” “Major Decision”
or any equivalent term in the Servicing Agreement.

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

“Master Servicer
Remittance Date” shall mean:

(i)            
with respect to Note A-1, the “Master Servicer Remittance Date” (or analogous term) as defined in the Servicing
Agreement; and

(ii)            
with respect to Note A-2, the earlier of (a) the “Master Servicer Remittance Date” (or analogous term) as defined
in the Servicing Agreement or (b) the first Business Day after the “determination date,” as such term or a similar
term is defined in the Note A-2 PSA, provided, however, that no remittance is required to be made until two Business
Days after receipt of the scheduled monthly payment with respect to the Mortgage Loan.

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

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

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

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

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

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

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

    	 	-5-	 

     

    

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

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

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

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

“Non-Directing
Holder” shall mean the Note A-2 Holder or, if Note A-2 is included in a Securitization, the holders of Certificates representing
the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative
of the holders of such Certificates or such other party otherwise entitled under the Note A-2 PSA to exercise the rights granted
to the Non-Directing Holder in this Agreement. If Note A-2 is no longer in a Securitization, the Non-Directing Holder with
respect to such Note will be the then current Holder of such Note.

“Non-Lead
Master Servicer” shall mean, with respect to Note A-2 and the Note A-2 PSA, the master servicer designated under the
Note A-2 PSA.

“Non-Lead
Note” shall mean Note A-2.

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

“Non-Lead
Servicing Agreement” shall mean the Note A-2 PSA.

“Non-Lead
Special Servicer” shall mean, with respect to Note A-2 and the Note A-2 PSA, the special servicer designated under the
Note A-2 PSA.

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

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

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

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

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

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

    	 	-6-	 

     

    

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    	 	-7-	 

     

    

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

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

“Qualified
Servicer” shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,”
in the case of a special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the
S&P Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable,
(3) as to which neither Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor
in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a
ratings downgrade or withdrawal) of securities in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced
by such servicer prior to the time of determination, (4) a servicer that (i) during the 12-month period prior to the date of determination,
acted as master servicer or special servicer, as applicable, in a commercial mortgage loan securitization rated by Morningstar
and (ii) Morningstar has not qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes of such
certificates citing servicing concerns with the servicer or special servicer, as applicable, as the sole or material factor in
such rating action and (5) in the case of DBRS, that within the twelve (12) month period prior to the date of determination such
servicer was acting as servicer or special servicer, as applicable, in a commercial mortgage loan securitization that was rated
by DBRS and DBRS has not downgraded or withdrawn the then current rating on any class of commercial mortgage securities or placed
any class of commercial mortgage securities on watch citing the continuation of such servicer as servicer or special servicer,
as applicable, of such commercial mortgage securities as a material reason for such downgrade or withdrawal. For purposes of this
definition, for so long as any Note is included in a Securitization, the ratings or actions of any Rating Agency that is not rating
any such Securitization(s) shall not be considered.

“Qualified
Transferee” shall mean an Affiliate of LCF or one or more of the following (other than the Borrower or any entity which
is an Affiliate of the Borrower):

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

    	 	-8-	 

     

    

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

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

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

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

(vi)            
an investment fund, limited liability company, limited partnership or general partnership in which a Permitted Fund Manager
acts as the general partner, managing member, or the fund manager responsible for the day to day management and operation of such
investment vehicle, provided that greater than fifty percent (50%) of the equity interests in such investment vehicle are
owned, directly or indirectly, by one or more entities that are otherwise Qualified Transferees,

which, in the case of each of clauses (i),
(ii), and (iii) of this definition, has at least $400,000,000 in total assets (in name or under management) and (except with respect
to a pension advisory firm or similar fiduciary) at least $150,000,000 in capital/statutory surplus or shareholders’ equity,
and is regularly engaged in the business of making or owning commercial real estate loans or commercial loans similar to the Mortgage
Loan.

“Qualified
Trustee” shall mean (i) a corporation, national bank, national banking association or a trust company, organized
and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate
trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision
or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or
(iii) an institution whose long-term senior

    	 	-9-	 

     

    

unsecured debt is then rated in one
of the top two rating categories of each of the Rating Agencies.

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

“Rating Agency
Confirmation” shall mean each of the applicable Rating Agencies for each Securitization shall have confirmed in writing
that the occurrence of the event with respect to which such Rating Agency Confirmation is sought shall not result in a downgrade,
qualification or withdrawal of the applicable rating or ratings ascribed by such Rating Agency to any of the Certificates then
outstanding. In the event that no Certificates are outstanding or none of the Notes are included in a Securitization, any action
that would otherwise require a Rating Agency Confirmation shall require the consent of the Note A-1 Holder, which consent
shall not be unreasonably withheld, conditioned or delayed.

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

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

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

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

    	 	-10-	 

     

    

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

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

“Servicing
Agreement” shall mean the Note A-1 PSA; provided that in the event the Lead Note is no longer an asset of the trust fund
created pursuant to the Note A-1 PSA, the term “Servicing Agreement” shall refer to the subsequent servicing agreement
entered into pursuant to Section 2.

“Servicing
Fee” shall mean the fee of the Master Servicer pursuant to the terms of the Servicing Agreement, which will generally
be calculated as the product of (i) the Servicing Fee Rate and (ii) the outstanding principal balance of the Mortgage Loan as of
the date of determination.

“Servicing
Fee Rate” shall have the meaning applied to such term in the Servicing Agreement, being the rate per annum which, when
applied to the Mortgage Loan Principal Balance (which may be a different rate with respect to each of the Notes), will determine
the servicing fee payable to the Master Servicer under the Servicing Agreement.

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

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

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

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

“Special
Servicing Fee” shall have the meaning given to such term or an analogous term in the Servicing Agreement.

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

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

    	 	-11-	 

     

    

“Trustee”
shall mean the trustee under the Note A-1 PSA or the Note A-2 PSA, as the context requires.

“UBSCMSC”
shall mean UBS Commercial Mortgage Securitization Corp. and its successors in interest.

2.              
Servicing of the Mortgage Loan. (a)  Each Holder acknowledges and agrees that, subject in each case to
the specific terms of this Agreement, the Mortgage Loan shall be serviced from and after the Note A-1 Securitization Date,
by the Note A-1 Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the Note A-1 PSA.
Each Holder agrees to reasonably cooperate with each Servicer with respect to its exercise of its rights and obligations under
the Servicing Agreement.

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

(c)            
If, at any time the Lead Note is no longer in a Securitization, the Note A-1 Holder shall cause the Mortgage Loan
to be serviced pursuant to a servicing agreement that is substantially similar to the Servicing Agreement (and, if the Non-Lead
Note is in a Securitization, subject to receipt of a Rating Agency Confirmation from the Rating Agencies that were engaged by the
Depositor to rate such Securitization) and all references herein to the “Servicing Agreement” shall mean such
subsequent Servicing Agreement; provided, however, that until a replacement Servicing Agreement has been entered
into (and such written confirmation has been obtained), the Note A-1 Holder shall cause the Mortgage Loan to be serviced
pursuant to the provisions of the Servicing Agreement as if such agreement was still in full force and effect with respect to the
Mortgage Loan; provided, further, however, that until a replacement Servicing Agreement is in place, the actual
servicing of the Mortgage Loan may be performed by any Qualified Servicer appointed by the Note A-1 Holder and does not
have to be performed by the service providers set forth under the Servicing Agreement that was previously in effect.

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

    	 	-12-	 

     

    

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

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

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

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

3.              
Priority of Notes. Note A-1 and Note A-2 shall be of equal priority, and no portion of any of Note A-1
or Note A-2 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded
Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the
form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument
serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in
respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer
and applied to Note A-1 and Note A-2 on a Pro Rata and Pari Passu Basis.

The Servicing Agreement
may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer,
the Trustee or the Special Servicer for interest accrued on any Property Advances, (ii) to pay the parties to any

    	 	-13-	 

     

    

Securitization for interest accrued
on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay
to the Master Servicer and/or the Special Servicer as additional servicing compensation.

4.              
Workout. Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the
Servicing Agreement and Section 13 of this Agreement, and the obligation to act in accordance with the Servicing Standard,
if the Lead Note Holder, or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms
thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest Rate is reduced, (iii) payments
of interest or principal on Note A-1 or Note A-2 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 Note A-1 and Note A-2 as described in Section 3.

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

If any Servicer holding
or having distributed any amount received or collected in respect of Note A-1 or Note A-2 determines, or a court of competent
jurisdiction orders, at any time that any amount received or collected in respect of Note A-1 or Note A-2 must, pursuant
to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1
Holder, the Note A-2 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of
this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder or the Note A-2
Holder, as applicable, and the Note A-1 Holder or the Note A-2 Holder, as applicable, shall promptly on demand repay to
such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder or the Note A-2
Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to
the Borrower, the Note A-1 Holder, the Note A-2 Holder, any Servicer or such other person or entity with respect
thereto. Each of the Note A-1 Holder and the Note A-2 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 will promptly remit such
excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1
Holder or the Note A-2 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1
Holder or the Note A-2 Holder, as applicable, under the Mortgage

    	 	-14-	 

     

    

Loan, provided, that the obligations
of the Note A-1 Holder and the Note A-2 Holder under this Section 5 are separate and distinct obligations
from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations
of the Note A-1 Holder and the Note A-2 Holder under this Section 5 constitute absolute, unconditional and
continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.

6.              
Limitation on Liability. Subject to the terms of the Servicing Agreement, no Holder (including the Master Servicer
or the Special Servicer on its behalf) shall have any liability to any other Holder with respect to any Note, except (1) with
respect to the Advance reimbursement provisions set forth in Section 17 and (2) with respect to losses actually
suffered due to the gross negligence, willful misconduct or material breach of this Agreement on the part of such Holder (including
the Master Servicer or the Special Servicer on its behalf, except that the Master Servicer’s or Special Servicer’s
liability may be further limited or expanded as set forth in the Servicing Agreement).

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

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

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

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

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

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

    	 	-15-	 

     

    

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

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

(viii)         
It is a Qualified Transferee.

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

9.              
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken
pursuant hereto, shall be deemed to constitute among any Holder (or the Master Servicer, Special Servicer or Trustee on its behalf)
and any other Holder a partnership, association, joint venture or other entity. Each Holder (or the Master Servicer, Special Servicer
or Trustee on its behalf) shall have no obligation whatsoever to offer to the other Holder the opportunity to purchase notes or
interests relating to any future loans originated by such Holder or any of its Affiliates, and if any Holder chooses to offer to
the other Holder, the opportunity to purchase notes or interests in any future mortgage loans originated by such Holder or its
Affiliates, such offer shall be at such purchase price and interest rate as such Holder chooses, in its sole and absolute discretion.
Neither Holder shall have any obligation whatsoever to purchase from the other Holder any notes or interests in any future loans
originated by any other Holder or any of its Affiliates.

10.           
Not a Security. Neither of Note A-1 nor Note A-2 shall be deemed to be a security within the meaning of
the Securities Act of 1933 or the Securities Exchange Act of 1934.

11.           
Other Business Activities of the Holders. Each Holder acknowledges that the other Holder may make loans or otherwise
extend credit to, and generally engage in any kind of business with, any Affiliate of the Borrower, and receive payments on such
other loans or extensions of credit to any Affiliate of the Borrower and otherwise act with respect thereto freely and without
accountability, but only if none of the foregoing violate the Mortgage Loan

    	 	-16-	 

     

    

Documents, in the same manner as if
this Agreement and the transactions contemplated hereby were not in effect.

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

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

(c)            
The Holders acknowledge that any Rating Agency Confirmation may be granted or denied by the Rating Agencies in their sole
and absolute discretion and that such Rating Agencies may charge the transferring Holder customary fees in connection with providing
such Rating Agency Confirmation.

(d)           
Notwithstanding anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”)
its Note to any entity (other than the Borrower or any Affiliate of the Borrower) that has extended a credit facility to such Holder
or has entered into a repurchase agreement with such Holder and that, in each case, is either a Qualified Transferee or a financial
institution whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency
(a “Note Pledgee”), or to a Person with respect to which a Rating Agency Confirmation has been obtained, on
terms and conditions set forth in this Section 12(d), it being further agreed that a financing provided by a Note Pledgee
to any Holder or any Affiliate that controls such Holder that is secured by such Holder’s interest in its respective Note
and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder on the condition

    	 	-17-	 

     

    

that all applicable terms and conditions
of this Section 12 are complied with. A Note Pledgee that is not a Qualified Transferee may not take title to a Note
without a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder to the other Holder and the Servicer
that a Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Holder agrees to acknowledge
receipt of such notice and thereafter agree: (i) to give such Note Pledgee written notice of any default by the pledging Holder
in respect of its obligations under this Agreement of which default such Holder has actual knowledge and which notice shall be
given simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Note Pledgee a period of ten
(10) Business Days to cure a default by the pledging Holder in respect of its obligations to the other 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 or the Servicing Agreement (if the pledging Holder had the right to consent to such amendment, modification,
waiver or termination pursuant to the terms hereof) shall be effective against such Note Pledgee without the written consent of
such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed and which consent shall be deemed to
be given if Note Pledgee shall fail to respond to any request for consent to any such amendment, modification, waiver or termination
within 10 days after request therefor; (iv) that the other Holder shall accept any cure by such Note Pledgee of any default
of the pledging Holder which such pledging Holder has the right to effect hereunder, as if such cure were made by such pledging
Holder; (v) that the other Holder or Servicer shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall
reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory to the other Holder;
and (vi) that, upon written notice (a “Redirection Notice”) to the Servicer by such Note Pledgee that the
pledging Holder is in default beyond any applicable cure periods with respect to the pledging Holder’s obligations to such
Note Pledgee pursuant to the applicable credit agreement or other agreements relating to the Pledge between the pledging Holder
and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Holder), and until such Redirection Notice
is withdrawn or rescinded by such Note Pledgee, Note Pledgee (or at any time that pledging Holder otherwise directs that such payment
be made to Note Pledgee pursuant to a separate notice) shall be entitled to receive any payments that any Servicer would otherwise
be obligated to make to the pledging Holder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging
Holder hereby unconditionally and absolutely releases the other Holder and any Servicer from any liability to the pledging Holder
on account of any Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or other Holder
in good faith to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies
against the pledging Holder (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable
law, the pledge agreement, repurchase agreement or similar agreement between the pledging Holder and the Note Pledgee and this
Agreement. In such event, or if the pledging holder otherwise assigns its interests to the Note Pledgee, the other Holder and the
Servicer shall recognize such Note Pledgee (and any transferee (other than the Borrower or any Affiliate of the Borrower) that
is also a Qualified Transferee at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure),
and such Person’s successor and assigns, as the successor to the pledging Holder’s rights, remedies and obligations
under this Agreement, and any such Note Pledgee or Qualified Transferee shall assume in writing the obligations of the pledging
Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such

    	 	-18-	 

     

    

Note Pledgee) and agrees to be bound
by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d) shall remain effective
as to any Holder (and any Servicer) unless and until such Note Pledgee shall have notified such Holder (and any Servicer, as applicable)
in writing that its interest in the pledged Note has terminated.

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

(b)           
The Lead Servicer and the related Trustee shall not have any fiduciary duty to the Non-Lead Note Holder in connection with
the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Servicer and the related Trustee from their
respective obligation under the Servicing Agreement to make any disbursement of funds as set forth herein).

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

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

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

    	 	-19-	 

     

    

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

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

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

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

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

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

The authority of
the Lead Note Holder to sell the Non-Lead Note, and the obligations of the Non-Lead Note Holder to execute and deliver instruments
or deliver the Non-Lead Note upon request of the Lead Note Holder, shall terminate and cease to be of any further force or effect
upon the date, if any, upon which the Lead Note is repurchased by LCF, as the initial Note A-1 Holder from the trust fund
established under the Servicing Agreement in connection with a material breach of representation or warranty made by the initial
Note A-1 Holder with respect to the Lead Note or material document defect with respect to the documents delivered by LCF,
as the initial Note A-1 Holder with respect to the Lead Note upon the consummation of the Lead Securitization.

    	 	-20-	 

     

    

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

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

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

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

    	 	-21-	 

     

    

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

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

The Holders acknowledge
that the Servicing Agreement may contain certain provisions that give an operating advisor certain non-binding consultation rights
with respect to Major Actions.

15.           
Appointment of Special Servicer. Subject to the terms of the Servicing Agreement, the Directing Holder shall have
the right at any time and from time to time, with or without cause, to replace the Special Servicer then acting with respect to
the Mortgage Loan and appoint a Qualified Servicer as the replacement Special Servicer in lieu thereof. The Directing Holder shall
designate a Person to serve as Special Servicer by delivering to the other Holder and the parties to the Note A-1 PSA and the Note
A-2 PSA a written notice stating such designation and by satisfying the other conditions required under the Servicing Agreement
(including, without limitation, a Rating Agency Confirmation, if required by the terms of the Servicing Agreement), if any.

The Directing Holder
agrees and acknowledges that the Special Servicer could be terminated under the Servicing Agreement in connection with a “servicer
termination event” thereunder, or otherwise based on a recommendation by the operating advisor under the Servicing Agreement
if (1) the operating advisor determines, in its sole discretion exercised in good faith, that (a) the Special Servicer has failed
to comply with the Servicing Standard and (b) a replacement of the Special Servicer would be in the best interest of the holders
of Certificates issued under Servicing Agreement (as a collective whole) and (2) the affirmative vote of the requisite certificate
holders is obtained. The Directing Holder will retain its right to remove and

    	 	-22-	 

     

    

replace the Special Servicer, but the
Directing Holder may not restore a Special Servicer that has been removed in accordance with the preceding sentence.

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

(i)         
to provide copies of the same notices, information and reports that it is required to provide to the Directing Holder pursuant
to the Servicing Agreement with respect to any Major Actions or the implementation of any recommended actions outlined in an Asset
Status Report relating to the Mortgage Loan to the Non-Directing Holder (but without regard to whether or not the Directing Holder
actually has lost any rights to receive such information as a result of a Consultation Termination Event), within the same time
frame as specified with respect to the Directing Holder (but without regard to whether or not the Directing Holder actually has
lost any rights to receive such information as a result of a Consultation Termination Event), provided, however,
that if Note A-2 has been included in a Securitization, then for any information for which the Special Servicer would be required
to provide to such Non-Directing Holder, the Special Servicer shall provide such notice to the master servicer of the other Securitization
transaction, who shall forward such notice as and when required under the terms of the related Securitization documents; and

(ii)         
to consult with the Non-Directing Holder on a strictly non-binding basis, if, having received such notices, information
and reports, such Non-Directing Holder requests consultation with respect to any such Major Action or the implementation of any
recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended
by the Non-Directing Holder; provided that after the expiration of a period of ten (10) Business Days from the delivery
to the Non-Directing Holder of written notice of a proposed action, together with copies of the notice, information and report
required to be provided to the Directing Holder, the Servicer shall no longer be obligated to consult with the Non-Directing Holder,
whether or not the Non-Directing Holder has responded within such ten (10) Business Day period (unless the Servicer proposes a
new course of action that is materially different from the action previously proposed, in which case such ten (10) Business Day
period shall be begin anew from the date of such proposal and delivery of all information relating thereto).

(b)           
Notwithstanding the foregoing non-binding consultation rights of the Non-Directing Holder, the Servicer may take any Major
Action or any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period
if the Servicer determines that immediate action with respect thereto is necessary to protect the interests of the Holders.

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

    	 	-23-	 

     

    

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

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

17.           
Advances; Reimbursement of Advances. (a)  From time to time, (i) pursuant to terms of the Servicing
Agreement, the Lead Servicer and/or the related Trustee may be obligated to make (1) Property Advances with respect to the
Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and (ii) pursuant to the
terms of the Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to
make P&I Advances with respect to the Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make
any P&I Advance with respect to the Non-Lead Note and the related Non-Lead Master Servicer and/or the related Trustee will
not be required to make any P&I Advance with respect to any Lead Note or any Property Advance. The Lead Servicer, the Non-Lead
Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in
the Note A-1 PSA and the Note A-2 PSA, as applicable.

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

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

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

    	 	-24-	 

     

    

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

18.           
Provisions Relating to Securitization. 

(a)            
New Notes. For so long as Note A-2 is not in a securitization, the Note A-2 Holder shall have the right,
subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes or additional
notes (in either case, the “New A-2 Notes”) reallocating the principal of Note A-2 among other New
A-2 Notes; reducing the interest rates of such New A-2 Notes or severing the Note A-2 into one or more further “component”
notes in the aggregate principal amount equal to the then outstanding principal balance of Note A-2, provided that
(i) the aggregate principal balance of the New A-2 Notes following such amendments is no greater than the principal balance
of Note A-2 prior to such amendments, (ii) all New A-2 Notes continue to have the same or a lower interest rate as the
Note A-2 prior to such amendments, (iii) all New A-2 Notes pay pro rata and on a pari passu basis
and such reallocated or component notes shall be automatically subject to the terms of this Agreement and (iv) the Initial
Note A-2 Holder holding the New A-2 Notes shall notify the parties to the Note A-1 PSA in writing of such modified
allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to execute amendments
to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this Agreement) on behalf of either of
the Holders solely for the purpose of reflecting such reallocation of principal or such severing of Note A-2, (2) if Note A-2 is
severed into “component” notes, such component notes shall each have their same rights as the respective original Note
and (3) the definition of the term “Securitization” and all of the related defined terms may be amended (and new terms
added, as necessary) to reflect the New A-2 Notes. Rating Agency Confirmation shall not be required for any amendments to this
Agreement required to facilitate the terms of this paragraph 18(a). The Initial Note Holder whose Note is being reallocated or
split pursuant to this Section 18(a) shall reimburse the other Holder for all costs and expenses incurred by the other Holder
in connection with the reallocation or split.

(b)           
The Non-Lead Servicing Agreement shall provide that:

(i)         
the applicable master servicer or trustee for such Securitization shall be required to notify the master servicer, special
servicer and trustee of each other Securitization of the amount of any P&I Advance it has made with respect to the Note included
in such Securitization within two Business Days of making such advance;

(ii)         
if the applicable master servicer, special servicer or trustee determines that a proposed P&I Advance, if made, or any
outstanding P&I Advance previously made, would be, or is, as applicable, a nonrecoverable advance, the master servicer shall
provide the other servicers written notice of such determination within 2 Business Days after such determination was made;

    	 	-25-	 

     

    

(iii)         
in the event the Non-Lead Note Holder is responsible for its proportionate share of any Nonrecoverable Advances (or any
other portion of a Nonrecoverable Advance) (and advance interest thereon) or other fee or expense pursuant to Section 17,
and funds received with respect to the Non-Lead Note are insufficient to cover such amounts, (x) the related master servicer will
be required to pay the Master Servicer, Special Servicer or Trustee under the Servicing Agreement, as applicable, out of general
funds in the collection account (or equivalent account) established under the Non-Lead Servicing Agreement and (y) if the Lead
Servicing Agreement permits the Master Servicer, Special Servicer or Trustee under the Servicing Agreement to pay itself from the
Lead Securitization Trust’s general account then the master servicer under the Non-Lead Servicing Agreement will be required
to reimburse the Lead Securitization Trust out of general funds in the collection account (or equivalent account) established under
the Non-Lead Servicing Agreement;

(iv)         
each of the Master Servicer and the Special Servicer shall be indemnified (as and to the extent the Lead Securitization
Trust is required to indemnify each such party) 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 any PSA that relate solely to
its servicing of the Mortgage Loan, as applicable, and the master servicer under the Non-Lead Servicing Agreement will be required
to reimburse the Master Servicer, Special Servicer or Trustee under the Servicing Agreement, as applicable, out of general funds
in the collection account (or equivalent account) established under the Non-Lead Servicing Agreement;

(v)         
each of trustee and the master servicer under the Non-Lead Servicing Agreement, as applicable, shall acknowledge that, (i)
each of the Master Servicer and the Trustee under the Servicing Agreement will be a third party beneficiary under the Non-Lead
Servicing Agreement with respect to any provisions therein relating to (1) the reimbursement of any nonrecoverable advances made
with respect to such Non-Lead Note by the Master Servicer or the Trustee under the Servicing Agreement and (2) as to the Master
Servicer only, the indemnification of the Master Servicer 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 any PSA and relating
to the Non-Lead Note and (ii) the Special Servicer will be a third party beneficiary under the Non-Lead Servicing Agreement with
respect to any provisions therein relating to (1) the reimbursement of any nonrecoverable advances made with respect to the Non-Lead
Note by the Special Servicer (it being understood that the Special Servicer is not required to make any Advances) and (2) the indemnification
of the Special Servicer 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 any PSA and relating to such Non-Lead Note; and

(vi)         
the Master Servicer and the Special Servicer shall be third party beneficiaries of the foregoing provisions.

(c)            
Notice to Parties to the Lead Securitization PSA. The Note A-2 Holder shall provide the Depositor, the Servicer and
the Special Servicer under the Lead Securitization

    	 	-26-	 

     

    

PSA (as of the Note A-2 Securitization
Date) (provided such party is not also a party to the Note A-2 PSA) notice of the Note A-2 Securitization in writing (which
may be by email) prior to or promptly following the Note A-2 Securitization Date. Such notice shall contain contact information
for each of the parties to the Note A-2 PSA and the identity of the Controlling Class Representative under such Note A-2 PSA. In
addition, after the Note A-2 Securitization Date, the Note A-2 Holder shall send a copy of the Note A-2 PSA to the Depositor, the
Servicer and the Special Servicer under the Lead Securitization PSA (as of the Note A-2 Securitization Date) (provided such party
is not also a party to the Note A-2 PSA).

(d)           
The Lead Securitization PSA shall:

(i)         
provide that the Master Servicer and Trustee for such Securitization shall be required to notify the servicer, special servicer
and trustee of each other Securitization of the amount of any P&I Advance it has made with respect to the Note included in
such Securitization within two Business Days of making such advance;

(ii)         
provide that if the Master Servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding P&I
Advance previously made, would be, or is, as applicable, a nonrecoverable advance, the Master Servicer shall provide the other
servicers written notice of such determination within two Business Days after such determination was made;

(iii)         
provide that the Master Servicer shall remit all payments received (or advanced) with respect to the Non-Lead Note, net
of its Servicing Fee and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and
the Trustee, to the Non-Lead Note Holder on the applicable Master Servicer Remittance Date;

(iv)         
provide that the Master Servicer agrees to make available to the master servicer under the Non-Lead Servicing Agreement
the CREFC® Investor Reporting Package® pursuant to the terms of the Servicing Agreement on a monthly
basis on the applicable Master Servicer Remittance Date;

(v)         
provide that the Master Servicer, any primary servicer, the Special Servicer and the Lead Trustee, 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), to the parties to the Non-Lead Servicing Agreement, at its own expense, in a timely manner, the reports,
certifications, compliance statements, accountants’ assessments and attestations, information to be included in reports (including,
without limitation, Form 15G, Form 10K, Form 10D, Form 8K), and other materials specified in each of the other Servicing Agreements
as the parties to each Non-Lead Securitization may require in order to comply with their obligations under the Securities Act of
1933, as amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, and any other applicable
law. Without limiting the generality of the foregoing, the Lead Note Holder for a Lead Securitization shall provide in a timely
manner to the depositor and the

    	 	-27-	 

     

    

trustee for any prior Securitization
a copy of the Servicing Agreement and the Lead Servicer (at the expense of the Lead Note Holder) will be required, upon prior written
request, to provide to the depositor and the trustee for any prior Securitization 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 a timely manner for inclusion in any disclosure document (and, with respect to the Servicing Agreement,
for filing under Form 8-K), and with respect to the Lead Servicers, upon prior written request, market indemnification agreements,
opinions and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization. As used in
this Agreement, “Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§
229.1100 229.1125, as such may be amended from time to time, and subject to such clarification and interpretation as have been
provided by the United States Securities and Exchange Commission (the “Commission”) or by the staff of the Commission,
or as may be provided by the Commission or its staff from time to time, in each case as effective from time to time as of the compliance
dates specified therein. The Master Servicer, any primary servicer and the Special Servicer, upon prior written request, 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 Servicing Agreement;

(vi)         
provide that the servicing duties of each of the Master Servicer and Special Servicer under the Servicing Agreement shall
include the duty to service the Non-Lead Note on behalf of the related Trustees and related Certificate holders in accordance with
the terms and provisions of this Agreement;

(vii)         
provide that any late collections received by the Master Servicer from the Borrower for which a P&I Advance has already
been paid by a master servicer or trustee under a Non-Lead Servicing Agreement shall be remitted by the Master Servicer to such
master servicer or trustee under a Non-Lead Servicing Agreement, as applicable, within two Business Days of receipt of properly
identified funds;

(viii)         
provide that the Non-Lead Note Holder is intended third-party beneficiary in respect of the rights afforded it under the
Servicing Agreement and each master servicer under a Non-Lead Servicing Agreement will be entitled to enforce the rights of the
related Trustee with respect to such Non-Lead Note under this Agreement and the Servicing Agreement;

(ix)         
provide that each master servicer and special servicer under any Non-Lead Servicing Agreement shall be a third-party beneficiary
of the Servicing Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or indemnification
of such master servicer or special servicer, as the case may be, and the provisions regarding coordination of Advances;

(x)         
provide that it shall not be amended in a manner that materially and adversely affects the rights of the Non-Lead Note Holder
without their consent;

    	 	-28-	 

     

    

(xi)         
satisfy Moody’s rating methodology as of the closing date of the Lead Securitization related to permitted investments
and eligible accounts applicable to securities rated “Aaa” by Moody’s;

(xii)         
provide that, in connection with (A) any amendment of the Servicing Agreement, a party to such Servicing Agreement is required
to provide a copy of the executed amendment to the depositor under the Non-Lead Servicing Agreement and one or more parties to
the related Non-Lead 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 Servicing Agreement, the replacement “master servicer” or replacement “special
servicer”, as applicable, is required to provide to the depositor under the Non-Lead Servicing Agreement and one or more
parties to the related Non-Lead 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)         
provide that “servicer termination events” (or any analogous term under the Servicing Agreement) include customary
market termination events with respect to failure to make advances, failure to remit payments to the Non-Lead Note Holder as required,
failure to deliver (or cause to be delivered) materials or information required in order for the Non-Lead Note Holder or the depositor
under the Non-Lead Servicing Agreement to timely comply with its obligations under the Exchange Act, the Securities Act or Form
SF-3, and for rating agency triggers with respect to any Certificates, subject to customary grace periods (provided that, in the
case of failures related to the securities laws, such grace periods will not cause a depositor under the Non-Lead Servicing Agreement
to fail to comply with the applicable provisions of such securities laws); and

(xiv)         
provide that if the Non-Lead Note becomes the subject of an “asset review” under the Non-Lead Servicing Agreement,
the applicable parties to the Servicing Agreement are required to reasonably cooperate with the related asset representations reviewer
or other applicable party to the Non-Lead Servicing Agreement in connection with such asset review, including with respect to providing
access to related underlying documents to the extent the asset representations reviewer or such other applicable party to the Non-Lead
Servicing Agreement has not obtained such documents from the Non-Lead Note Holder and such documents are in the possession of the
applicable party to the Servicing Agreement.

(e)            
If any provision required to be included in the Non-Lead Servicing Agreement or the Lead Securitization PSA is not included
therein as required in this Agreement, each Holder agrees that each such provision shall be deemed to be incorporated as a provision
of and made a part of the Non-Lead Servicing Agreement or the Lead Securitization PSA, as the case may be.

19.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED
TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND
DUTIES OF THE

    	 	-29-	 

     

    

PARTIES TO THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE
OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

20.           
Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by the parties hereto. Additionally, from and after a Securitization, except to cure any ambiguity or to correct any error or as
set forth in Section 18(a), (b) and (c) of this Agreement may not be modified unless a Rating Agency Confirmation
has been delivered with respect to each Securitization, except that no Rating Agency Confirmation shall be required in connection
with a modification to cure any ambiguity or to correct or supplement any provision herein that may be defective or inconsistent
with any other provisions herein or with the Servicing Agreement.

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

22.           
Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document
Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart of this
Agreement

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

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

    	 	-30-	 

     

    

25.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than Note A-2)
will be held by the Note A-1 Trustee (or by a custodian on its behalf) under the terms of the Note A-1 PSA on behalf of
all of the Holders.

[NO FURTHER TEXT ON THIS PAGE]

    	 	-31-	 

     

    

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

	 	Note A-1 Holder:
	 	 
	 	LADDER CAPITAL FINANCE LLC
	 	 	 
	 	By:	/s/ David M. Traitel
	 		Name: David M. Traitel 
	 	 	Title: Managing Director
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Note A-2 Holder:
	 	 
	 	LADDER CAPITAL FINANCE LLC
	 	 	 
	 	By: 	/s/ David M. Traitel
	 	 	Name:  David M. Traitel 
	 	 	Title:  Managing Director

 

 

UBS 2017-C4: BANK OF AMERICA OFFICE CAMPUS
BUILDING 600 CO-LENDER AGREEMENT

 

    	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of
Mortgage Loan

	Borrower:	LBA Tract E Jacksonville FL LLC
	Mortgage Loan Origination Date:  	May 23, 2017
	Initial Principal Amount of Mortgage Loan:	$29,935,000
	Co-Lender Closing Date Mortgage Loan Principal Balance:	$29,935,000
	Location of Mortgaged Property:	Jacksonville, Florida
	Current Use of Mortgaged Property:	Single Tenant Office
	Mortgage Interest Rate:	Prior to the Anticipated Repayment Date, 5.02% per annum.  Subsequent to the Anticipated Repayment Date, 8.02% per annum.
	Anticipated Repayment Date:	June 6, 2027
	Maturity Date:	October 6, 2031

 

    	 	A-1	 

     

    

B.       Description of
Notes

 

	Mortgage Loan Origination Date:	May 23, 2017
	Initial Note A-1 Principal Balance:	$20,000,000
	Initial Note A-2 Principal Balance:	$9,935,000
	Initial Note A-1 Percentage Interest:	66.81%
	Initial Note A-2 Percentage Interest:	33.19%
	Note A-1 Interest Rate:	Prior to the Anticipated Repayment Date, 5.02% per annum.  Subsequent to the Anticipated Repayment Date, 8.02% per annum.
	Initial Note A-2 Interest Rate:	Prior to the Anticipated Repayment Date, 5.02% per annum.  Subsequent to the Anticipated Repayment Date, 8.02% per annum.
	Note A-1 Default Interest Rate:	A rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) 4% above the Note A-1 Interest Rate, compounded monthly
	Note A-2 Default Interest Rate:  	A rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) 4% above the Note A-2 Interest Rate, compounded monthly

 

 

    	 	A-2	 

     

    

EXHIBIT B

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

Ladder Capital Finance LLC

345 Park Avenue, 8th Floor

New York, New York 10154

Attention: Mark Ableman

 

with a copy to:

 

Ladder Capital Finance LLC

345 Park Avenue, 8th Floor

New York, New York 10154

Attention: Kelly Porcella

 

with a copy to:

 

Well Fargo Bank National Association

Commercial Mortgage Servicing

MAC D1050-084

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: Asset Management

 

    	 	B-1
	 

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

Westbrook Partners

iStar Financial Inc.

Capital Trust

Archon Capital, L.P.

Whitehall Street Real Estate Fund, L.P.

The Blackstone Group

Normandy Real Estate Partners

Dune Real Estate Partners

AllianceBernstein

Rockwood

RREEF Funds

Hudson Advisors

Artemis Real Estate Partners

Apollo Real Estate Advisors

Colony Capital, Inc.

Praedium Group

Fortress Investment Group, LLC

Lonestar Opportunity Funds

Clarion Partners

Walton Street Capital, LLC

Starwood Financial Trust

BlackRock, Inc.

Eightfold Real Estate Capital, L.P.

Rialto Capital Management, LLC

Rialto Capital Advisors, LLC

Raith Capital Partners, LLC

KKR Real Estate Manager Finance LLC (if investing through one or
more funds with committed capital of at least $250,000,000)

 

    	 	C-1AMENDED
AND RESTATED Asset Purchase Agreement

 

THIS
AGREEMENT made as of the 14th day of February, 2017.

 

BETWEEN:

 

REGI
U.S., a corporation pursuant to the laws
of the State of Oregon.

 

(the
“Purchaser”)

 

AND:

 

REG
TECHNOLOGIES INC., a corporation pursuant
to the laws of the Province of British Columbia.

 

(the
“Vendor”)

 

WHEREAS:

 

	A.	the
    Vendor operates a business of developing and building an improved axial vane-type rotary engine known as the RadMax® rotary
    technology (the “Technology”) used in the design of lightweight and high efficiency engines, compressors
    and pumps;
	 	 
	B.	the
    Purchaser wishes to acquire and the Vendor wishes to sell, transfer, convey, assign, and deliver, on the terms and conditions
    set forth in this Agreement, all of Vendor’s legal and beneficial rights, title and interests in and to and under all
    Assets (as defined below) (the “Acquisition”), including all past and future income, royalties, damages
    and payments due (including, rights to damages and payments for past, present or future infringements or misappropriations)
    with respect thereto, in each case, of the Vendor in all countries relating to such Assets (collectively, the “Purchased
    Assets”), free and clear of all Encumbrances (as defined below); and
	 	 
	C.	the
    Vendor is listed on the TSX Venture Exchange (the “Exchange”) and the Transaction (as defined below) may
    result in the de-listing of the Vendor from the Exchange. 

 

In
consideration of the undertakings of the parties, their mutual promises and covenants, and other valuable consideration as provided,
the parties, intending to be legally bound, hereby agree as follows:

 

1.–
INTERPRETATION

 

	1.1	Definitions

 

In
this Agreement and in the schedules, the following terms and expressions will have the following meanings:

 

	 	(a)	“Agreement”
    means this asset purchase agreement and all instruments amending it; “hereof”, “hereto”
    and “hereunder” and similar expressions mean and refer to this Agreement and not to any particular Article,
    Section, or other subdivision; “Article”, “Section” or other subdivisions of this Agreement
    followed by a number means and refers to the specified Article, Section or other subdivision of this Agreement;

 

    	 	 	 

    	 

    

 

	 	(b)	“Acquisition”
    has the meaning ascribed thereto in the Recitals; 
	 	 	 
	 	(c)	“Assets”
    means all assets of the Vendor including, but not limited to, the Patents listed in Schedule A hereto and all continuations,
    continuations-in-part, divisionals, patent cooperation treaty equivalents, and foreign counterparts of the Patents listed
    in Schedule A hereto;
	 	 	 
	 	(d)	“Assessment”
    shall include a reassessment or additional assessment and the term “assessed” shall be interpreted in the
    same manner;
	 	 	 
	 	(e)	“Business
    Day” means any day other than a Saturday, a Sunday or a statutory holiday in the Province of British Columbia or
    any other day on which the principal chartered banks located in the City of Vancouver are not open for business during normal
    banking hours;
	 	 	 
	 	(f)	“Closing”
    means the completion of the Transaction pursuant to this Agreement at the Closing Time;
	 	 	 
	 	(g)	“Closing
    Date” means the date this Agreement is entered into as shown on the first page of the Agreement;
	 	 	 
	 	(h)	“Closing
    Time” means 10:00 am in the City of Vancouver on the Closing Date or such other time on the Closing Date as the
    Parties may agree upon as the time at which the Closing shall take place;
	 	 	 
	 	(i)	“Consent”
    means a license, permit, approval, consent, certificate, registration or authorization (including, without limitation, those
    made or issued by a Regulatory Authority, in respect of a Contract, or otherwise);
	 	 	 
	 	(j)	“Consideration
    Shares” has the meaning ascribed in Section 2.2;
	 	 	 
	 	(k)	“Contract”
    means any agreement, understanding, indenture, contract, lease, deed of trust, license, option, instrument or other commitment,
    whether written of oral;
	 	 	 
	 	(l)	“Technology”
    means the axial vane-type rotary engine known as the RadMax® rotary technology; 
	 	 	 
	 	(m)	“Disclosure
    Documents” has the meaning ascribed in Section 3.2 (10);
	 	 	 
	 	(n)	“Encumbrances”
    means mortgages, charges, pledges, security interests, liens, encumbrances, actions, claims, demands and equities of any nature
    whatsoever or howsoever arising and any rights or privileges capable of becoming any of the foregoing;
	 	 	 
	 	(o)	“Exchange”
    has the meaning ascribed in the recitals hereto;
	 	 	 
	 	(p)	“ITA”
    means the Income Tax Act (Canada);
	 	 	 
	 	(q)	“Law”
    or “Laws” means all requirements imposed by statutes, regulations, rules, ordinances, by-laws, decrees,
    codes, policies, judgments, orders, rulings, decisions, approvals, notices, permits, guidelines or directives of any Regulatory
    Authority;

 

    	2	 

    	 

    

 

	 	(r)	“Licensed
    Patents” means all Licensed Patents and Know How listed in Schedule B hereto and all continuations, continuations-in-part,
    divisionals, patent cooperation treaty equivalents, and foreign counterparts of the Licensed Patents listed in Schedule B
    hereto;
	 	 	 
	 	(s)	“Loss”
    and “Losses” mean any and all demands, claims, actions or causes of action, assessments, losses, damages,
    liabilities, costs, and expenses, including without limitation, interest, penalties, fines and reasonable attorneys, accountants
    and other professional fees and expenses, but excluding damages for lost profits or lost business opportunities and excluding
    any indirect, consequential or punitive damages suffered by the Purchaser or the Vendor;
	 	 	 
	 	(t)	“Patents”
    means any United States, Canadian or foreign patents and applications (including provisional applications), patents issuing
    from such applications, certificates of invention or any other grants by any court, administrative agency or commission or
    other federal, state, provincial, county, local or foreign governmental authority, instrumentality, agency commission or subdivision
    thereof, including the U.S. Patent and Trademark Office, Canadian Intellectual Property Office and the European Patent Office,
    for the protection of inventions, or foreign equivalents of any of the foregoing;
	 	 	 
	 	(u)	“Parties”
    means the Vendor and the Purchaser and any other person that may become a party to this Agreement, and Party means any one
    of them;
	 	 	 
	 	(v)	“person”
    includes any individual, corporation, partnership, firm, joint venture, syndicate, association, trust, government, governmental
    agency and any other form of entity or organization;
	 	 	 
	 	(w)	“Purchased
    Assets” has the meaning ascribed thereto in Recital B;
	 	 	 
	 	(x)	“Purchase
    Price” has the meaning ascribed in Section 2.2;
	 	 	 
	 	(y)	“Transaction”
    means the Acquisition and the ancillary transactions contemplated by this Agreement including the Change of Business of the
    Purchaser; 
	 	 	 
	 	(z)	“Transaction
    Disclosure Document” means the document describing the Transaction, required to be distributed to the Purchaser’s
    shareholders and filed with the Exchange pursuant to Exchange Policy 5.2, being either (i) an information circular on Exchange
    Form 3D1 if approval of the Purchaser’s shareholders is being sought at a special meeting, or (ii) a filing statement
    on Exchange Form 3D2 if shareholder approval is sought by way of consent resolution;
	 	 	 
	 	(aa)	“U.S.
    Securities Act” means the United States Securities Act of 1933, as amended;
	 	 	 
	 	(bb)	“Regulatory
    Authority” means any government, regulatory or administrative authority, agency, commission, utility or board (federal,
    provincial, municipal or local, domestic or foreign) having jurisdiction in the relevant circumstances and any person acting
    under the authority of any of the foregoing and any judicial, administrative or arbitral court, authority, tribunal or commission
    having jurisdiction in the relevant circumstances;
	 	 	 
	 	(cc)	“Reporting
    Jurisdictions” means British Columbia and Alberta;

 

    	3	 

    	 

    

 

	 	(dd)	“Securities
    Laws” means the securities laws, regulations, rules, rulings and orders and the blanket rulings and policies and
    written interpretations of, and multilateral or national instruments adopted by, the securities regulators and the policies
    and rules of any applicable stock exchange or quotation or stock reporting system, including the Exchange; 
	 	 	 
	 	(ee)	“SEDAR”
    means System for Electronic Document Analysis and Retrieval, the mandatory electronic document filing and retrieval system
    for Canadian public companies; 
	 	 	 
	 	(ff)	“Special
    Meeting” means the meeting of the Purchaser’s shareholders to be called and held to consider the Transaction,
    if required by the Exchange;
	 	 	 
	 	(gg)	“Transaction”
    means the purchase and sale of the Purchased Assets and all other transactions contemplated by this Agreement; and

 

	1.2.	Best
    Knowledge

 

Any
reference herein to “the best knowledge” of the Vendor will be deemed to mean the actual knowledge of the directors
of the Vendor, together with the knowledge which they would have had if they had conducted a diligent inquiry into the relevant
subject matter.

 

	1.3.	Currency

 

Unless
otherwise indicated, all references to dollar amounts in this Agreement are expressed in Canadian currency.

 

	1.4.	Governing
    Law

 

This
Agreement shall be exclusively governed by and construed and interpreted in accordance with the laws of the Province of British
Columbia and the federal laws of the Canada applicable therein. The Parties hereby irrevocably attorn to the exclusive jurisdiction
of the courts of Province of British Columbia with respect to any matter arising under or related to this Agreement.

 

	1.5.	Interpretation
    Not Affected by Headings

 

The
division of this Agreement into articles and sections and the insertion of headings are for convenience of reference only and
shall not affect the construction or interpretation of this Agreement.

 

	1.6.	Number
    and Gender

 

In
this Agreement, unless the context otherwise requires, any reference to gender shall include both genders and words importing
the singular number shall include the plural and vice-versa.

 

	1.7.	Time
    of Essence

 

Time
is of the essence of this Agreement.

 

	1.8.	Severability

 

Each
of the provisions contained in this Agreement is distinct and severable and a declaration of invalidity or unenforceability of
any such provision or part thereof by a court of competent jurisdiction shall not affect the validity or enforceability of any
other provision hereof.

 

    	4	 

    	 

    

 

	1.9.	Calculation
    of Time Periods

 

Where
a time period is expressed to begin or end at, on or with a specified day, or to continue to or until a specified day, the time
period includes that day. Where a time period is expressed to begin after or to be from a specified day, the time period does
not include that day. Where anything is to be done within a time period expressed after, from or before a specified day, the time
period does not include that day. If the last day of a time period is not a Business Day, the time period shall end on the next
Business Day.

 

	1.10.	Statutory
    Instruments

 

Unless
otherwise specifically provided in this Agreement, any reference in this Agreement to any Law shall be construed as a reference
to such Law as amended or re-enacted from time to time or as a reference to any successor thereto.

 

	1.11.	Incorporation
    of Schedules

 

The
following are the schedules attached to and incorporated by reference into this Agreement:

 

	 	Schedule
    A	Assets

 

2.–
PURCHASE AND SALE

 

	2.1.	Purchased
    Assets

 

On
the terms and subject to the fulfilment of the conditions of this Agreement, the Vendor agrees to sell, assign and transfer to
the Purchaser, and the Purchaser agrees to purchase from the Vendor at the Closing Time on the Closing Date, all of the Purchased
Assets.

 

	2.2.	Purchase
    Price

 

The
aggregate purchase price (the “Purchase Price”) payable by the Purchaser to the Vendor for the Purchased Assets
shall be the allotment and issuance of 54,501,819 common shares in the capital of the Purchaser (collectively,
the “Consideration Shares”).

 

	2.3.	Payment
    of Purchase Price

 

At
the Closing Time, the Purchaser will issue 54,501,819 Consideration Shares to the Vendor.

 

	2.4.	Transfer
    Taxes

 

The
Purchaser shall be liable for and shall pay all federal and provincial sales taxes and all other taxes, duties, fees or other
like charges of any jurisdiction properly payable in connection with the transfer of the Purchased Assets by the Vendor to the
Purchaser.

 

	2.5.	Securities
    Laws Compliance

 

	(1)	The
    Parties hereto acknowledge that the issuance of the Consideration Shares by the Purchaser to the Vendor as contemplated herein
    is being made pursuant to an exemption from the registration and prospectus requirements of applicable securities laws pursuant
    to the U.S. Securities Act. 

 

    	5	 

    	 

    

 

	(2)	The
    Vendor confirms to and covenants with the Purchaser that:

 

	 	(a)	it
    will comply with all requirements of applicable securities laws in connection with the issuance to it of the Consideration
    Shares and the resale of any of the Consideration Shares; 
	 	 	 
	 	(b)	the
    Consideration Shares have not been registered under the U.S. Securities Act of 1933 or the securities laws of any State of
    the United States and that the Purchaser does not intend to register the Consideration Shares under the Securities Act of
    1933, or the securities laws of any State of the United States and has no obligation to do so; and
	 	 	 
	 	(c)	the
    Vendor is not a U.S. Person and is acquiring the Consideration Shares for its own account and not with a view to its distribution
    within the meaning of Section 2(11) the U.S. Securities Act. The Vendor is either an “accredited investor” as
    that term is defined in Rule 501 of Regulation D of the U.S. Securities Act, or is acquiring the Consideration Shares pursuant
    to section 4(2) of the U.S. Securities Act in a “private” offering and has the ability to bear the economic risk
    in connection with the consummation of the transactions contemplated by this Agreement, including a complete loss of future
    revenue related to the Consideration Shares. 

 

	(3)	Upon
    the issuance of the Consideration Shares to the Vendor and until such time as is no longer required under applicable securities
    laws, the certificates representing the Consideration Shares will bear legends in substantially the following form:

 

“Unless
permitted under securities legislation, the holder of this security must not trade this security before [the date that is 4 months
and a day after the distribution date]”

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “U.S. SECURITIES ACT”). THE HOLDER HEREOF, BY ACQUIRING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE CORPORATION
THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED
STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT IF APPLICABLE, (C) INSIDE THE UNITED STATES (1)
PURSUANT TO THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF
AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, OR (2) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION
UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE LAWS AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES, AND THE
HOLDER, PRIOR TO SUCH SALE PURSUANT TO (C)(1) OR (2), HAS FURNISHED TO THE CORPORATION AN OPINION OF COUNSEL OR OTHER EVIDENCE
OF EXEMPTION IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION. PROVIDED THAT IF THE CORPORATION IS A “FOREIGN
ISSUER” AS THAT TERM IS DEFINED BY REGULATION S OF THE U.S. SECURITIES ACT AT THE TIME OF SALE, A NEW CERTIFICATE BEARING
NO RESTRICTIVE LEGEND, DELIVERY OF WHICH WILL CONSTITUTE “GOOD DELIVERY”, MAY BE OBTAINED FROM THE TRANSFER AGENT,
UPON DELIVERY OF THIS CERTIFICATE AND A DULY EXECUTED DECLARATION, IN FORM SATISFACTORY TO THE CORPORATION AND ITS TRANSFER AGENT,
TO THE EFFECT THAT THE SALE OF THE SECURITIES REPRESENTED HEREBY IS BEING MADE IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER
THE U.S. SECURITIES ACT. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.

 

    	6	 

    	 

    

 

	(4)	The
    Vendor acknowledges that the Exchange may impose an escrow or voluntary pooling requirement on the Consideration Shares held
    by the Vendor and the Vendor agrees to escrow or pool any shares required by the Exchange. 

 

3.–
REPRESENTATIONS AND WARRANTIES

 

	3.1.	Representations
    and Warranties of the Vendor 

 

The
Vendor hereby makes the following representations and warranties to the Purchaser and acknowledges that the Purchaser is relying
on such representations and warranties in entering into this Agreement and completing the Transaction:

 

	(1)	Incorporation
    and Existence of the Vendor. The Vendor is a corporation incorporated and existing under the laws of the Province of British
    Columbia.
	 	 
	(2)	Corporate
    Power. The Vendor has the corporate power and authority to own or lease its property and to carry on its business as now
    being conducted by it.
	 	 
	(3)	Options.
    Except for the Purchaser’s right in this Agreement and as disclosed in the Purchaser’s public filings with the
    Securities and Exchange Commission, no person has any option, warrant, right, call, commitment, conversion right, right of
    exchange or other agreement or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an
    option, commitment, conversion right, right of exchange or other agreement for the purchase from the Vendor of any of the
    Purchased Assets.
	 	 
	(4)	Validity
    of Agreement.

 

	 	(a)	The
    Vendor has all necessary corporate power to own the Purchased Assets and to enter into and perform its obligations under this
    Agreement, and the Vendor has all necessary corporate power to enter into and perform its obligations under any other agreements
    or instruments to be delivered or given by it pursuant to this Agreement.
	 	 	 
	 	(b)	The
    Vendor’s execution and delivery of, and performance of its obligations under, this Agreement and the consummation of
    the Transaction have been duly authorized by all necessary corporate action on the part of the Vendor.
	 	 	 
	 	(c)	This
    Agreement or any other agreements entered into pursuant to this Agreement to which the Vendor is a party constitute legal,
    valid and binding obligations of the Vendor enforceable against it in accordance with their respective terms, except as enforcement
    may be limited by bankruptcy, insolvency and other laws affecting the rights of creditors generally and except that equitable
    remedies may be granted only in the discretion of a court of competent jurisdiction.

 

	(5)	No
    Violation. The execution and delivery of this Agreement by the Vendor, the consummation of the Transaction and the fulfilment
    by the Vendor of the terms, conditions and provisions hereof will not (with or without the giving of notice or lapse of time,
    or both):

 

    	7	 

    	 

    

 

	 	(a)	contravene
    or violate or result in a material breach or a material default under or give rise to a right of termination, amendment or
    cancellation or the acceleration of any obligations of the Vendor under:

 

	 	(i)	any
    applicable law;
	 	 	 
	 	(ii)	any
    judgment, order, writ, injunction or decree of any Regulatory Authority having jurisdiction over the Vendor;
	 	 	 
	 	 	 
	 	 	 
	 	(iii)	its
    Articles of Incorporation or any resolutions of the board of directors or shareholders of the Vendor;
	 	 	 
	 	(iv)	any
    Consent held by the Vendor or necessary to the ownership of the Purchased Assets; or
	 	 	 
	 	(v)	the
    provisions of any Contract to which the Vendor is a party or by which it is, or any of its properties or assets are, bound;
    or

 

	 	(b)	result
    in the creation or imposition of any Encumbrance on any of the Purchased Assets.

 

	(6)	Regulatory
    and Contractual Consents. To the knowledge of the Vendor, there is no requirement to make any filing with, give any notice
    to or obtain any Consent from any Regulatory Authority as a condition to the lawful consummation of the Transaction. There
    is no requirement under any Contract to which the Vendor is a party or by which the Vendor is bound to make any filing with,
    give any notice to, or to obtain the Consent of, any party to such Contract relating to the Transaction.
	 	 
	(7)	No
    Material Adverse Change. Since the Annual Statement Date, no material adverse change has occurred in any of the assets,
    business, financial condition, earnings, results of operations or prospects of the Business nor has any other event, condition,
    or state of facts occurred or arisen which might have a material adverse effect on the assets, business, financial condition,
    earnings, results of operations or prospects of the Business.
	 	 
	(8)	Compliance
    with Laws. The Vendor has complied, in all material respects, with all Laws applicable to the Purchased Assets.
	 	 
	(9)	Assets.
    Schedule A is a complete and accurate list of all Assets, pertaining to the Technology, underlying the Purchased Assets;
	 	 
	(10)	Licensed
    Patents. Schedule B is a complete and accurate list of all Licensed Patents, pertaining to the Technology. 
	 	 
	(11)	Title
    to Assets and Licensed Patents. The Vendor has good and marketable title to the Assigned and Licensed Patents. The Assets
    and Licensed Patents are free and clear of all Encumbrances and restrictions of transfer. There are no actions, suits, claims
    or proceedings threatened, pending or in progress on the part of any named inventor of the Patents relating in any way to
    the Assets and Vendor has not received notice of (and Vendor is not aware of any facts or circumstances which could reasonably
    be expected to give rise to) any other actions, suits, investigations, claims or proceedings threatened, pending or in progress
    relating in any way to the Patents. 

 

    	8	 

    	 

    

 

	(12)	Full
    Disclosure. No representation or warranty by the Vendor in this Agreement and no statement contained in any certificate
    or other document furnished or to be furnished to the Purchaser pursuant to this Agreement contains any untrue statement of
    a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances
    in which they are made, not misleading. 
	 	 
	(13)	Reporting
    Issuer. The Vendor is a reporting issuer in good standing in the Reporting Jurisdictions and its common shares are posted
    and listed for trading on the Exchange. The Purchaser is not in material default under the Securities Laws of the Reporting
    Jurisdictions. No orders suspending the sale or ceasing the trading of any securities issued by the Purchaser have been issued
    by any Regulatory Authority, and no proceedings for such purpose are pending or, to the knowledge of the Purchaser, threatened.
    
	 	 
	(14)	Consents.
    Other than the Exchange Approval and Shareholder Approval, there is no requirement for the Vendor to make any filing with,
    give any notice to or obtain any Consent from any Regulatory Authority as a condition to the lawful consummation of the Transaction.

 

	3.2.	Representations
    and Warranties of the Purchaser 

 

The
Purchaser hereby makes the following representations and warranties to the Vendor and acknowledges that the Vendor is relying
on such representations and warranties in entering into this Agreement and completing the Transaction:

 

	(1)	Incorporation
    and Existence. The Purchaser has been duly incorporated and organized and is a valid and subsisting company under the
    laws of the State of Oregon, and is duly qualified to carry on business in the State of Oregon and in each other jurisdiction,
    if any, wherein the carrying out of the activities contemplated makes such qualifications necessary.
	 	 
	(2)	Capitalization.
    As at the date of this Agreement, the Purchaser has 32,779,298 common shares and no common share purchase warrants issued
    and outstanding exempt as disclosed in the Purchaser’s public filings with the Securities and Exchange Commission as
    of the date of this Agreement. 
	 	 
	(3)	Reporting
    Issuer. The Purchaser is a reporting issuer in good standing in the United States and its common shares are posted and
    quoted for trading on the OTCQB. The Purchaser is not in material default under the Securities Laws of the United States.
    No orders suspending the sale or ceasing the trading of any securities issued by the Purchaser have been issued by any Regulatory
    Authority, and no proceedings for such purpose are pending or, to the knowledge of the Purchaser, threatened. 
	 	 
	(4)	Validity
    of Agreement.

 

	 	(a)	The
    Purchaser has all necessary corporate power to own the Purchased Assets. The Purchaser has all necessary corporate power to
    enter into and perform its obligations under this Agreement and any other agreements or instruments to be delivered or given
    by it pursuant to this Agreement.

 

    	9	 

    	 

    

 

	 	(b)	The
    execution, delivery and performance by the Purchaser of this Agreement and the consummation of the Transaction have been duly
    authorized by all necessary corporate action on the part of the Purchaser.
	 	 	 
	 	(c)	This
    Agreement or any other agreements entered into pursuant to this Agreement to which the Purchaser is a party constitute legal,
    valid and binding obligations of the Purchaser, enforceable against the Purchaser in accordance with their respective terms,
    except as enforcement may be limited by bankruptcy, insolvency and other laws affecting the rights of creditors generally
    and except that equitable remedies may be granted only in the discretion of a court of competent jurisdiction.

 

	(5)	No
    Violation. The execution and delivery of this Agreement by the Purchaser, the consummation of the Transaction and the
    fulfilment by the Purchaser of the terms, conditions and provisions hereof will not (with or without the giving of notice
    or lapse of time, or both):

 

	 	(a)	contravene
    or violate or result in a breach or a default under or give rise to a right of termination, amendment or cancellation or the
    acceleration of any obligations of the Purchaser, under:

 

	 	(i)	any
    applicable Law;
	 	 	 
	 	(ii)	any
    judgment, order, writ, injunction or decree of any Regulatory Authority having jurisdiction over the Purchaser;
	 	 	 
	 	(iii)	the
    Articles, Notice of Articles or any resolutions of the board of directors or shareholders of the Purchaser;
	 	 	 
	 	(iv)	any
    Consent held by the Purchaser; or
	 	 	 
	 	(v)	the
    provisions of any Contract to which the Purchaser is a party or by which it is, or any of its properties or assets are, bound.

 

	(6)	Brokers.
    Except for finders that may receive finder’s fees in connection with the Post-Closing Financing in accordance with Exchange
    policies, the Purchaser has not engaged any broker or other agent in connection with the Transaction and, accordingly, there
    is no commission, fee or other remuneration payable to any broker or agent who purports or may purport to have acted for the
    Purchaser.
	 	 
	(7)	Consideration
    Shares. The Consideration Shares to be issued hereunder will, upon issue and delivery, be validly issued as fully-paid
    and non-assessable shares in the capital of the Purchaser, free of all restrictions on trading other than those required by
    applicable securities law or by the Exchange as set out in Section 2.5 hereof.
	 	 
	(8)	Exchange
    Listing. The Purchaser shall use its commercially reasonable efforts to maintain the listing on the Exchange of
    the common shares in the capital of the Purchaser for a period of at least 24 months after the Closing Date. 
	 	 
	(9)	Public
    Disclosure. The Purchaser has filed all forms, reports, documents and information required to be filed by it, whether
    pursuant to applicable securities laws or otherwise, with the Exchange (or one of its predecessors) or the applicable securities
    regulatory authorities (the “Disclosure Documents”). As of the time the Disclosure Documents were filed
    with the applicable securities regulators and on EDGAR: (i) each of the Disclosure Documents complied in all material respects
    with the requirements of the applicable securities laws; and (ii) none of the Disclosure Documents contained any untrue statement
    of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
    therein, in the light of the circumstances under which they were made, not misleading.

 

    	10	 

    	 

    

 

	(10)	Financial
    Statements. The financial statements of the Purchaser contained in the Disclosure Documents: (i) complied as to form in
    all material respects with the published rules and regulations under the applicable securities laws; (ii) were reported in
    accordance with United States generally accepted accounting principles or International Financial Reporting Standards, as
    the case may be; and (iii) present fairly the consolidated financial position of the Purchaser and its subsidiaries, if any,
    as of the respective dates thereof and the consolidated results of operations of the Purchaser for the periods covered thereby.
    
	 	 
	(11)	Material
    Change/Material Fact. There is no “material fact” or “material change” (as those terms are defined
    in applicable securities legislation) in the affairs of the Corporation that has not been generally disclosed to the public.

 

	3.3.	Survival
    of Covenants, Representations and Warranties of the Vendor 

 

To
the extent that they have not been fully performed at or prior to the Closing Time, and unless otherwise provided, the covenants,
representations and warranties of the Vendor contained in this Agreement and any agreement, instrument, certificate or other document
executed or delivered pursuant to this Agreement shall survive the Closing and shall continue for the benefit of the Purchaser
for a period of 2 years notwithstanding such Closing, nor any investigation made by or on behalf of the Purchaser or any knowledge
of the Purchaser, except that the representations and warranties set out in Section 3.1(1) to and including 3.1(4) and the corresponding
representations and warranties set out in the certificates to be delivered pursuant to Section 6.1, shall survive the Closing
and continue in full force and effect without limitation of time.

 

	3.4.	Survival
    of Covenants, Representations and Warranties of the Purchaser

 

To
the extent that they have not been fully performed at or prior to the Closing Time, and unless otherwise provided, the covenants,
representations and warranties of the Purchaser contained in this Agreement and in any agreement, instrument, certificate or other
document delivered pursuant to this Agreement shall survive the Closing and shall continue for the benefit of the Vendor for a
period of 2 years notwithstanding such Closing, nor any investigation made by or on behalf of the Vendor or any knowledge of the
Vendor, except that the representations and warranties set out in Sections 3.2(1) and 3.2(4), and the corresponding representations
and warranties set out in the certificates to be delivered pursuant to Section 6.2, shall survive the Closing and shall continue
in full force and effect without limitation of time.

 

4.–
COVENANTS

 

	4.1.	Exchange
    Approval

 

The
Purchaser shall use its commercially reasonable efforts to obtain the Exchange Approval. If requested by the Purchaser, the Vendor
shall assist the Purchaser with obtaining such approval by providing additional information or documentation as may be required
by the Exchange.

 

	4.2.	Shareholder
    Approval and Transaction Document

 

If
required pursuant to the Exchange Approval, the Vendor shall convene and conduct a special meeting of the Vendor’s shareholders
as soon as reasonably practicable for the purpose of considering and approving the Transaction (the “Special Meeting”).
Whether or not the Vendor is required to hold the Special Meeting, the Vendor shall prepare and complete, in consultation with
the Purchaser, the Transaction Document required by the Exchange, and the Vendor shall cause the Transaction Document to be filed
and sent to shareholders of the Vendor in accordance with applicable Law in order to obtain the approval of the Vendor’s
shareholders at the Special Meeting or by way of consent resolution, as may be permitted by the Exchange. Each of the Vendor and
the Purchaser will:

 

(a)
ensure that all information provided by it or on its behalf that is contained in the Transaction Document does not contain any
misrepresentation or any untrue statement of a material fact or omit to state a material fact required to be stated in the Transaction
Document and necessary to make any statement that it contains not misleading in light of the circumstances in which it is made;
and

 

(b)
promptly notify the other party if, at any time before Closing, it becomes aware that the Transaction Document contains a misrepresentation,
an untrue statement of material fact, omits to state a material fact required to be stated in those documents that is necessary
to make any statement it contains not misleading in light of the circumstances in which it is made or that otherwise requires
an amendment or a supplement to those documents.

 

    	11	 

    	 

    

 

	4.3.	Maintenance
    of Corporate Status

 

Prior
to Closing and for a period of a least 24 months after the Closing Date, the Purchaser shall use its commercially reasonable efforts
to remain a corporation validly subsisting under the laws of its jurisdiction of existence, licensed, registered or qualified
as an extra-provincial or foreign corporation in all jurisdictions where the character of its properties owned or leased or the
nature of the activities conducted by it make such licensing, registration or qualification necessary and shall carry on its business
in the ordinary course and in compliance in all material respects with all applicable laws, rules and regulations of each such
jurisdiction.

 

5.–
Conditions

 

	5.1	Mutual
    Conditions Precedent

 

The
respective obligations of the parties hereto to consummate the transactions contemplated hereby are subject to the satisfaction,
on or prior to the Closing Time, of the following conditions any of which may be waived by the mutual consent of such parties
without prejudice to their rights to rely on any other or others of such conditions:

 

	 	(a)	the
    Exchange shall have conditionally accepted the Transaction and the Transaction shall have been approved by the shareholders
    of the Purchaser in accordance with the requirements of the Exchange; and
	 	 	 
	 	(b)	the
    Consideration Shares to be issued upon the completion of the Transaction shall have been accepted for listing by the Exchange,
    subject only to the Purchaser fulfilling the Exchange’s listing requirements.

 

    	12	 

    	 

    

 

	5.2	Conditions
    to the Obligations of the Purchaser

 

Notwithstanding
anything herein contained, the obligation of the Purchaser to complete the transactions provided for herein will be subject to
the fulfillment of the following conditions at or prior to the Closing Time:

 

	 	(a)	The
    representations and warranties of the Vendor contained in this Agreement shall be true and accurate on the date hereof and
    at the Closing Time with the same force and effect as though such representations and warranties had been made as of the Closing
    Time (regardless of the date as of which the information in this Agreement or in any Schedule or other document made pursuant
    hereto is given).
	 	 	 
	 	(b)	The
    Vendor shall have complied with all covenants and agreements herein agreed to be performed or caused to be performed by them
    at or prior to the Closing Time.
	 	 	 
	 	(c)	The
    Vendor shall have delivered to the Purchaser a certificate in a form satisfactory to the Purchaser confirming that the facts
    with respect to each of the representations and warranties of the Vendor are as set out herein and remain true at the Closing
    Time and that the Vendor has performed each of the covenants required to be performed by it hereunder.
	 	 	 
	 	(d)	No
    order, decision or ruling of any court, tribunal or regulatory authority having jurisdiction will have been made, and no action
    or proceeding will be pending or threatened which, in the opinion of counsel to the Purchaser, is likely to result in an order,
    decision or ruling:

 

	 	(i)	to
    disallow, enjoin, prohibit or impose any limitations or conditions on the Transaction or the transactions contemplated hereby;
    or
	 	 	 
	 	(ii)	to
    impose any limitations or conditions which may have an adverse effect on the Purchased Assets.

 

	 	(e)	All
    consents, approvals authorizations of any governmental or regulator authority or person whose consent to the Transaction is
    required to be obtained in order to carry out the transactions contemplated hereby in compliance with all laws and agreements
    binding upon the parties hereto will have been obtained.

 

The
conditions contained in this Section 5.2 are inserted for the exclusive benefit of the Purchaser and may be waived in whole or
in part by the Purchaser at any time. The Vendor acknowledges that the waiver by the Purchaser of any condition or any part of
any condition will constitute a waiver only of such condition or such part of such condition, as the case may be, and will not
constitute a waiver of any covenant, agreement, representation or warranty made by the Vendor herein that corresponds or is related
to such condition or such part of such condition, as the case may be. If any of the conditions contained in this Section 5.2 are
not fulfilled or complied with in all material respects as herein provided, the Purchaser may, at or prior to the Closing Time
at its option, rescind this Agreement by notice in writing to the Vendor and in such event the Purchaser will be released from
all obligations hereunder and, unless the condition or conditions which have not been fulfilled are reasonably capable of being
fulfilled or caused to be fulfilled by the Vendor, then the Vendor will also be released from all obligations hereunder.

 

    	13	 

    	 

    

 

	5.3	Conditions
    to the Obligations of the Vendor

 

Notwithstanding
anything herein contained, the obligations of the Vendor to complete the transactions provided for herein will be subject to the
fulfillment of the following conditions at or prior to the Closing Time:

 

	 	(a)	The
    representations and warranties of the Purchaser contained in this Agreement or in any documents delivered in order to carry
    out the transactions contemplated hereby will be true and accurate on the date hereof and at the Closing Time with the same
    force and effect as though such representations and warranties had been made as of the Closing Time (regardless of the date
    as of which the information in this Agreement or any such Schedule or other document made pursuant hereto is given).
	 	 	 
	 	(b)	The
    Purchaser shall have complied with all covenants and agreements herein agreed to be performed or caused to be performed by
    it at or prior to the Closing Time.
	 	 	 
	 	(c)	The
    Purchaser shall have delivered to the Vendor a certificate confirming that the facts with respect to each of the representations
    and warranties of the Purchaser are as set out herein at the Closing Time and that the Purchaser has performed each of the
    covenants required to be performed by it hereunder.
	 	 	 
	 	(d)	There
    shall have been no material adverse change in the business of the Purchaser.
	 	 	 
	 	(e)	No
    order, decision or ruling of any court, tribunal or regulatory authority having jurisdiction will have been made, and no action
    or proceeding will be pending or threatened which, in the opinion of counsel to the Vendor, is likely to result in an order,
    decision or ruling:

 

	 	(i)	to
    disallow, enjoin, prohibit or impose any limitations or conditions on the Transaction or the transactions contemplated hereby;
    or
	 	 	 
	 	(ii)	to
    impose any limitations or conditions which may have an adverse effect on the business of the Purchaser.

 

	 	(f)	All
    consents, approvals and authorizations of any governmental or regulatory authority or person whose consent to the Transaction
    is required to be obtained in order to carry out the transactions contemplated hereby in compliance with all laws and agreements
    binding upon the parties hereto will have been obtained.
	 	 	 
	 	(g)	The
    Purchaser shall issue and deliver to the Vendor the Consideration Shares in compliance with all applicable securities laws.

 

The
conditions contained in this Section 5.3 hereof are inserted for the exclusive benefit of the Vendor and may be waived in whole
or in part by the Vendor at any time. The Purchaser acknowledges that the waiver by the Vendor of any condition or any part of
any condition will constitute a waiver only of such condition or such part of such condition, as the case may be, and will not
constitute a waiver of any covenant, agreement, representation or warranty made by the Vendor herein that corresponds or is related
to such condition or such part of such condition, as the case may be. If any of the conditions contained in this Section 5.3 hereof
are not fulfilled or complied with as herein provided, the Vendor may, at or prior to the Closing Time at its option, rescind
this Agreement by notice in writing to the Purchaser and in such event the Vendor will be released from all obligations hereunder
and, unless the condition or conditions which have not been fulfilled are reasonably capable of being fulfilled or caused to be
fulfilled by the Purchaser, then the Purchaser will also be released from all obligations hereunder.

 

    	14	 

    	 

    

 

6.–CLOSING

 

	6.1.	Vendor
    Deliveries

 

At
the Closing Time, the Vendor shall deliver to the Purchaser the following in form and substance satisfactory to the Purchaser:

 

	 	(a)	the
    certificate of the Vendor contemplated in Section 5.2;
	 	 	 
	 	(b)	an
    opinion from the Vendor’s IP legal counsel addressed to the Purchaser in form and substance satisfactory to the Purchaser,
    relating to the Purchased Assets;
	 	 	 
	 	(c)	certified
    copy of the resolution of the directors and the shareholders of the Vendor authorizing the execution and delivery of this
    Agreement and the performance by the Vendor of the terms of the Agreement;
	 	 	 
	 	(d)	all
    documentation and other evidence reasonably requested by the Purchaser in order to establish the due authorization and consummation
    of the Transaction, including the taking of all corporate proceedings by the boards of directors and shareholders of the Vendor
    required to effectively carry out the obligations of the Vendor pursuant to this Agreement; and
	 	 	 
	 	(e)	a
    duly completed and executed patent assignment and any other documentation necessary or reasonably required to transfer the
    Purchased Assets to the Purchaser with a good and marketable title, free and clear of all Encumbrances whatsoever.

 

	6.2.	Purchaser
    Deliveries 

 

At
the Closing Time, the Purchaser shall deliver to the Vendor the following in form and substance satisfactory to the Vendor:

 

	 	(a)	the
    certificate of the Purchaser contemplated in Section 5.3;
	 	 	 
	 	(b)	certificates
    representing the Consideration Shares; 
	 	 	 
	 	(c)	if
    necessary, a copy of a letter from the Exchange approving the Transaction;
	 	 	 
	 	(d)	a
    certified copy of the resolution of the directors of the Purchaser authorizing the execution and delivery of this Agreement
    and the performance by the Purchaser of the terms of the Agreement including without limitation the allotment and issuance
    of the Consideration Shares; and
	 	 	 
	 	(e)	all
    documentation and other evidence reasonably requested by the Vendor in order to establish the due authorization and consummation
    of the Transaction, including the taking of all corporate proceedings by the boards of directors and shareholders of the Purchaser
    required to effectively carry out the obligations of the Purchaser pursuant to this Agreement.

 

    	15	 

    	 

    

 

	6.3.	Place
    of Closing

 

The
Closing shall take place at the Closing Time at the offices of the Purchaser or at such other place as the Purchaser and the Vendor
may agree upon in writing.

 

7.–
INDEMNIFICATION

 

	7.1.	Purchaser
    Indemnity

 

The
Purchaser will indemnify, defend, and hold harmless the Vendor from, against, for, and in respect of any and all Losses asserted
against, relating to, imposed upon, or incurred by the Vendor by reason of, resulting from, based upon or arising out of (i) any
misrepresentation, misstatement or breach of warranty of the Purchaser contained in or made pursuant to this Agreement or any
certificate or other instrument delivered pursuant to this Agreement; or (ii) the breach or partial breach by the Purchaser of
any covenant or agreement of the Purchaser made in or pursuant to this Agreement or any certificate or other instrument delivered
pursuant to this Agreement.

 

	7.2.	Vendor
                                         Indemnity

 

The
Vendor will indemnify, defend, and hold harmless the Purchaser from, against, for, and in respect of any and all Losses asserted
against, relating to, imposed upon, or incurred by the Purchaser by reason of, resulting from, based upon or arising out of (i)
any misrepresentation, misstatement or breach of warranty of Vendor contained in or made pursuant to this Agreement or any certificate
or other instrument delivered pursuant to this Agreement; or (ii) the breach or partial breach by the Vendor of any covenant or
agreement of the Vendor made in or pursuant to this Agreement or any certificate or other instrument delivered pursuant to this
Agreement.

 

8.-
ARBITRATION

 

	8.1.	Reasonable
                                         Commercial Efforts to Settle Disputes

 

If
any controversy, dispute, claim, question or difference (a “Dispute”) arises with respect to this Agreement
or its performance, enforcement, breach, termination or validity, the Parties to the Dispute will use all commercially reasonable
efforts to settle the Dispute. To this end, they will consult and negotiate with each other in good faith and understanding of
their mutual interests to reach a just and equitable solution satisfactory to all such Parties.

 

	8.2.	Arbitration

 

Except
as is expressly provided in this Agreement, if the Parties do not reach a solution pursuant to Section 8.1 within a period of
15 Business Days following the first notice of the Dispute by any Party to the other party(ies) to the Dispute, then upon written
notice by any Party to the other party(ies) to the Dispute, the Dispute will be submitted to non-binding arbitration in accordance
with the provisions of the Commercial Arbitration Act (British Columbia), based upon the following:

 

	(1)	the
                                         arbitration tribunal will consist of one arbitrator appointed by mutual agreement of
                                         such Parties, or in the event of failure to agree within 10 Business Days following delivery
                                         of the written notice to arbitrate, any such Party may apply to a judge of the British
                                         Columbia Supreme Court to appoint an arbitrator. The arbitrator will be qualified by
                                         education and training to pass upon the particular matter to be decided;

 

    	16	 

    	 

    

 

	(2)	the
                                         arbitrator will be instructed that time is of the essence in the arbitration proceeding
                                         and, in any event, the arbitration award must be made within 30 days of the appointment
                                         of the arbitrator;
	 	 
	(3)	after
                                         written notice is given to refer any Dispute to arbitration, the Parties to the Dispute
                                         will meet within 15 Business Days of delivery of the notice to arbitrate and will negotiate
                                         in good faith to agree upon the rules and procedures for the arbitration, in an effort
                                         to expedite the process and otherwise ensure that the process is appropriate given the
                                         nature of the Dispute and the values at risk, failing which, the rules and procedures
                                         for the arbitration will be finally determined by the arbitrator;
	 	 
	(4)	the
                                         arbitration will take place in Vancouver, British Columbia;
	 	 
	(5)	except
                                         as otherwise provided in this Agreement or otherwise decided by the arbitrator, the fees
                                         and other costs associated with the arbitrator will be shared equally by the Parties
                                         to the Dispute and each Party to the Dispute will be responsible for its own costs;
	 	 
	(6)	the
                                         arbitration award will be given in writing, will provide reasons for the decision, and
                                         will be final and binding on the Parties, not subject to any appeal, and will deal with
                                         the question of costs of arbitration and all related matters;
	 	 
	(7)	judgment
                                         upon any award may be entered in any court having jurisdiction or application may be
                                         made to the Court for a judicial recognition of the award or an order of enforcement,
                                         as the case may be;
	 	 
	(8)	all
                                         Disputes referred to arbitration (including without limitation the scope of the agreement
                                         to arbitrate, any statute of limitations, conflict of laws rules, tort claims and interest
                                         claims) will be governed by the substantive law of British Columbia and the federal laws
                                         of Canada applicable therein; and
	 	 
	(9)	the
                                         Parties to the Dispute agree that the arbitration will be kept confidential and that
                                         the existence of the proceeding and any element of it (including any pleadings, briefs
                                         or other documents submitted or exchanged, any testimony or other oral submissions and
                                         any awards) will not be disclosed beyond the arbitrator, the Parties to the Dispute,
                                         their counsel and any person necessary to the conduct of the proceeding, except as may
                                         lawfully be required in judicial proceedings relating to the arbitration or otherwise.

 

9.–
GENERAL

 

	9.1.	Confidentiality

 

The
Purchaser covenants and agrees that, except as otherwise authorized by the Vendor and until the Closing, neither the Purchaser
nor its representatives, agents or employees will disclose to third parties, directly or indirectly, any confidential information
or confidential data relating to the Vendor or the Business discovered or received by the Purchaser or its representatives, agents
or employees as a result of the Vendor making available to the Purchaser and its representatives, agents or employees the information
requested by them in connection with the Transaction.

 

    	17	 

    	 

    

 

	9.2.	Collection
                                         of Personal Information

 

The
Vendor acknowledges and consents to the fact that the Purchaser may be required to collect its personal information which may
be disclosed by the Purchaser to:

 

	 	(a)	the
                                         Exchange or securities regulatory authorities;
	 	(b)	the
                                         Purchaser’s registrar and transfer agent;
	 	(c)	Canadian
                                         tax authorities; and
		(d)	authorities
                                         pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).

 

By
executing this Agreement, the Vendor is deemed to be consenting to the foregoing collection, use and disclosure of such personal
information and to the retention of such personal information for as long as permitted or required by law or business practice.
The Vendor hereby consents to the foregoing collection, use and disclosure of such personal information for such purposes only.
The Vendor also consents to the filing of copies or originals of any of the documents described herein as may be required to be
filed with the Exchange or any securities regulatory authority in connection with the transactions contemplated hereby. An officer
of the Purchaser is available to answer questions about the collection of personal information by the Purchaser.

 

	9.3.	Notices

 

	(1)	Any
                                         notice or other communication required or permitted to be given hereunder shall be in
                                         writing and shall be delivered in person, transmitted by facsimile or similar means of
                                         recorded electronic communication or sent by registered mail, charges prepaid, addressed
                                         as follows:

 

		(a)	if
                                         to the Vendor:

 

Reg
Technologies Inc.

Suite 500 – 666 Burrard Street

Vancouver,
British Columbia V6C 3P6

Attention: Paul Chute

Email: pwci@regtech.com

 

		(b)	if
                                         to the Purchaser:

 

REGI
U.S.

7520 N Market St. #10

Spokane,
WA, 99217

Attention:
Paul Chute

Email: pchute@radmaxtech.com

 

Any
such notice or other communication shall be deemed to have been given and received on the day on which it was delivered or transmitted
(or, if such day is not a Business Day, on the next following Business Day) or, if mailed, on the third Business Day following
the date of mailing; provided, however, that if at the time of mailing or within three Business Days thereafter there is or occurs
a labour dispute or other event that might reasonably be expected to disrupt the delivery of documents by mail, any notice or
other communication hereunder shall be delivered or transmitted by means of recorded electronic communication as described.

 

    	18	 

    	 

    

 

	(2)	Any
                                         Party may at any time change its address for service from time to time by giving notice
                                         to the other Parties in accordance with this Section 9.3.

 

	9.4.	Public
                                         Announcements and Disclosure

 

The
Parties shall consult with each other before issuing any press release or making any other public announcement with respect to
this Agreement or the Transaction and, except as required by any applicable Law or stock exchange having jurisdiction, no Party
shall issue any such press release or make any such public announcement without the prior written consent of the others, which
consent shall not be unreasonably withheld or delayed. Prior to any such press release or public announcement, none of the Parties
shall disclose this Agreement or any aspect of the Transaction except to its board of directors, its senior management, its legal,
accounting, financial or other professional advisors, any financial institution contacted by it with respect to any financing
required in connection with the Transaction and counsel to such institution, or as may be required by any applicable Law or stock
exchange having jurisdiction.

 

	9.5.	Assignment

 

The
rights of the Purchaser hereunder are not assignable without the written consent of the Vendor. The rights of the Vendor hereunder
are not assignable without the written consent of the Purchaser.

 

	9.6.	Commercially
                                         Reasonable Efforts

 

The
Parties acknowledge and agree that, for all purposes of this Agreement, an obligation on the part of any Party to use its “commercially
reasonable efforts” to obtain any waiver, Consent or other document shall not require such Party to make any payment to
any person for the purpose of procuring the same, other than payments for amounts due and payable to such person, payments for
incidental expenses incurred by such person and payments required by any applicable law or regulation.

 

	9.7.	Expenses

 

Unless
otherwise provided, each of the Vendor and the Purchaser shall be responsible for the expenses (including fees and expenses of
legal advisers, accountants and other professional advisers) incurred by them, respectively, in connection with the negotiation
and settlement of this Agreement and the completion of the Transaction. In the event of termination of this Agreement, the obligation
of each Party to pay its own expenses will be subject to any rights of such Party arising from a breach of this Agreement by another
Party.

 

	9.8.	Further
                                         Assurances

 

Each
of the Parties shall promptly do, make, execute, deliver, or cause to be done, made, executed or delivered, all such further acts,
documents and things as the other Parties may reasonably require from time to time after Closing at the expense of the requesting
Party for the purpose of giving effect to this Agreement and shall use reasonable efforts and take all such steps as may be reasonably
within its power to implement to their full extent the provisions of this Agreement.

 

	9.9.	Entire
                                         Agreement

 

This
Agreement, including all Schedules, constitutes the entire agreement between the Parties with respect to the subject matter and
supersedes all prior agreements, understandings, negotiations and discussions, whether written or oral including without limitation,
the Letter of Intent. There are no conditions, covenants, agreements, representations, warranties or other provisions, express
or implied, collateral, statutory or otherwise, relating to the subject matter except provided in this Agreement. No reliance
is placed by any Party on any warranty, representation, opinion, advice or assertion of fact made by any Party or its directors,
officers, employees or agents, to any other Party or its directors, officers, employees or agents, except to the extent that it
has been reduced to writing and included in this Agreement.

 

    	19	 

    	 

    

 

	9.10.	Waiver,
                                         Amendment

 

Except
as expressly provided in this Agreement, no amendment or waiver of this Agreement shall be binding unless executed in writing
by the Party to be bound. No waiver of any provision of this Agreement shall constitute a waiver of any other provision, nor shall
any waiver of any provision of this Agreement constitute a continuing waiver unless otherwise expressly provided.

 

	9.11.	Rights
                                         Cumulative

 

The
rights and remedies of the Parties are cumulative and not alternative.

 

	9.12.	Counterparts

 

This
Agreement may be executed in any number of counterparts, and/or by facsimile or e-mail transmission of Adobe Acrobat files, each
of which shall constitute an original and all of which, taken together, shall constitute one and the same instrument. Any Party
executing this Agreement by fax or Adobe Acrobat file shall, immediately following a request by any other Party, provide an originally
executed counterpart of this Agreement provided, however, that any failure to so provide shall not constitute a breach of this
Agreement.

 

IN
WITNESS WHEREOF this Agreement has been executed by the Parties.

 

REGI
U.S.

 

	Per:	/s/
                                         Paul Chute, President	 
		Paul
                                         Chute, President	 

 

REG
TECHNOLOGIES INC.

 

	Per:	/s/
                                         Paul Chute, President	 
		Paul
                                         Chute, President	 

 

    	20	 

    	 

    

 

SCHEDULE
A

 

THE
ASSETS

 

		[  ]	Canadian
                                         Patent No. 2,496,157 for VANE-TYPE ROTARY APPARATUS WITH SPLIT VANES
	 	 	 
		[  ]	Canadian
                                         Patent No. 2,672,332 for A ROTARY DEVICE
	 	 	 
		[  ]	2,744,700
                                         common shares of REGI U.S., Inc.
	 	 	 
		[  ]	1,530,000
                                         common shares of Rand Energy Group Inc.; Rand Energy Group Inc. owns 588,567 common shares
                                         of REGI U.S., Inc.
	 	 	 
		[  ]	3,287,737
                                         common shares of Minewest Silver & Gold, Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}]]