Document:

Exhibit
4.9 

 

EXECUTION
VERSION

	 

 

Riverfront
Plaza

 

CO-LENDER
AGREEMENT

 

Dated
as of June 7, 2018

 

by
and among

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-1 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-2 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-3 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-4 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-5 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-6 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-7 Holder)

 

and

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-8 Holder)

	 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	Page
	 	 
	1.          Definitions;
    Conflicts	1
	2.          Servicing
of the Mortgage Loan	19
	3.          Priority
of Notes	21
	4.          Workout	21
	5.          Accounts;
Payment Procedure	21
	6.          Limitation
on Liability	23
	7.          Representations
of the Holders	23
	8.          Independent
Analyses of each Holder	24
	9.          No
Creation of a Partnership or Exclusive Purchase Right	24
	10.        Not
a Security	24
	11.        Other
Business Activities of the Holders	24
	12.      
 Transfer of Notes	24
	13.        Registration
of Transfer	26
	14.        Registration
of the Notes	27
	15.        Statement
of Intent	27
	16.        Exercise
of Remedies by the Servicer	27
	17.        Rights
of the Directing Holder	29
	18.        Appointment
of Special Servicer	31
	19.        Rights
of the Non-Directing Holders	31
	20.        Advances;
Reimbursement of Advances	32
	21.        Provisions
Relating to Securitization	33
	22.        Governing
Law; Waiver of Jury Trial	39
	23.        Submission
To Jurisdiction; Waivers	40
	24.        Modifications	40
	25.        Successors
and Assigns; Third Party Beneficiaries	40
	26.        Counterparts	40
	27.        Captions	41
	28.        Notices	41
	29.        Severability	41
	30.        Entire
Agreement	41
	31.        Withholding
Taxes	41
	32.        Custody
of Mortgage Loan Documents	42
	33.        Certain
Matters Affecting the Agent	42
	34.        Termination
of Agent	43

 

    -i- 

     

    

 

THIS
CO-LENDER AGREEMENT (the “Agreement”), dated as of June 7, 2018, is by and among NATIXIS REAL ESTATE CAPITAL
LLC, a Delaware limited liability company (“Natixis”), having an address at 1251 Avenue of the Americas,
New York, New York 10020, as the holder of Note A-1, Natixis in its capacity as initial agent, the “Initial Agent”,
Natixis, as the holder of Note A-2, Natixis as the holder of Note A-3, Natixis as the holder of Note A-4, Natixis as the holder
of Note A 5, Natixis as the holder of Note A-6, Natixis as the holder of Note A-7 and Natixis as the holder of Note A-8.

 

W I T N E S S E T H:

 

WHEREAS,
Natixis has made a mortgage loan in the original principal amount of $146,000,000 (the “Mortgage Loan”) to
Richmond Riverfront Plaza, LP, a Delaware limited partnership (the “Borrower”) pursuant to a loan agreement
between the Borrower, as borrower, and Natixis, as lender, dated as of May 4, 2018 (the “Loan Agreement”),
which Mortgage Loan was evidenced by a single promissory note in the original principal amount of $146,000,000 (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 Riverfront Plaza, located at 901-951 E. Byrd Street, Richmond, Virginia 23219 (the “Mortgaged
Property”);

 

WHEREAS,
pursuant to a Note Splitter and Loan Document Modification Agreement, dated on or about May 4, 2018, the Original Promissory Note
was split into eight notes as follows: (i) Replacement Promissory Note A-1 in the principal amount of $30,000,000 (“Note
A-1”), (ii) Replacement Promissory Note A-2 in the principal amount of $30,000,000 (“Note A-2”),
(iii) Replacement Promissory Note A-3 in the original principal amount of $20,000,000 (“Note A-3”), (iv) Replacement
Promissory Note A-4 in the original principal amount of $20,000,000 (“Note A-4”), (v) Replacement Promissory
Note A-5 in the original principal amount of $15,000,000 (“Note A-5”), (vi) Replacement Promissory Note A-6
in the original principal amount of $15,000,000 (“Note A-6”), (vii) Replacement Promissory Note A-7 in the
original principal amount of $10,000,000 (“Note A-7”) and (viii) Replacement Promissory Note A-8 in the original
principal amount of $6,000,000 (“Note A-8”, collectively with Note A-1, Note A-2, Note A-3, Note A-4, Note
A-5, Note A-6 and Note A-7, the “Notes” and each, a “Note”); 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 the Notes;

 

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 not otherwise defined herein shall have the meaning 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 mean:

 

(a)          prior
to the Securitization Date, the meaning assigned to such term in the Model PSA or such other analogous term used in the Model
PSA; and

 

(b)          from
and after the Securitization Date, the meaning assigned to such term in the Servicing Agreement or such other analogous term used
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 Lead Securitization Servicing Agreement or any Non-Lead Servicing Agreement.

 

“Affiliate”
shall mean, with respect to any specified Person, any other Person Controlling or Controlled by or under common Control with such
specified Person.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after
the Securitization Date shall mean the Master Servicer in its role as “Companion Paying Agent” (or equivalent term)
under the Servicing Agreement.

 

“Agent
Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement
is located at Natixis Real Estate Capital LLC, 1251 Avenue of the Americas, New York, New York 10020, and which is the address
to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated office
by notice to the Holders.

 

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

 

“Amended
Note” shall have the meaning assigned to such term in Section 21.

 

“Appraisal”
shall have (i) prior to the Securitization Date, the meaning assigned to such term in the Model PSA or such other analogous term
used in the Model PSA and (ii) from and after the Securitization Date, the meaning assigned to such term in the Servicing Agreement
or such other analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

     -2-

     

    

 

“CLO”
shall have the meaning assigned to such term in the definition of “Qualified Transferee.”

 

“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 Lead Securitization or a Non-Lead 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 possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of an entity, whether through the ability to exercise voting power, by contract or otherwise, and the terms “Controlling”
and “Controlled” have meanings correlative to the foregoing.

 

“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.

 

“Directing
Holder” shall mean (i) during the period prior to the Note A-1 Securitization Date, the Note A-1 Holder 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 and (ii)
after the Note A-1 Securitization Date, the holders of Certificates representing the specified interest in the class of Certificates
designated as the “controlling class” under the Note A-1 Securitization or the duly appointed representative of the
holders of such Certificates; provided, that no Borrower 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.

 

     -3-

     

    

 

“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.

 

“First
Non-Lead Note” shall mean the first Note, other than Note A-1, that is included as part of the securitization of one
or more mortgage loans.

 

“First
Non-Lead Note PSA” shall mean the “pooling and servicing agreement” entered into in connection with the
First Non-Lead Note Securitization.

 

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

 

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

 

“First
Non-Lead Note Trust Fund” shall mean the trust formed pursuant to the First Non-Lead Note PSA.

 

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

 

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

 

“Holder”
shall mean the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6
Holder, the Note A-7 Holder and/or the Note A-8 Holder, as the context indicates.

 

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

 

     -4-

     

    

 

“Interim
Servicing Agreement” shall mean at such time that the Mortgage Loan is not serviced pursuant to the Servicing Agreement,
that certain Servicing Agreement, dated as of September 1, 2003, between Natixis, as owner, and Midland Loan Services, Inc., as
servicer.

 

“Intervening
Trust Vehicle” shall mean, with respect to any Securitization Vehicle that is a CLO, a trust vehicle or entity which
holds Note A-1 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.

 

“Lead
Note” shall mean (i) during the period from and after the First Non-Lead Note Securitization Date and prior to the Note
A-1 Securitization Date, the First Non-Lead Note; and (ii) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead
Securitization” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and prior
to the Note A-1 Securitization Date, the First Non-Lead Note Securitization and (b) from and after the Note A-1 Securitization
Date, the Note A-1 Securitization.

 

“Lead
Securitization Servicing Agreement” shall mean a pooling and servicing agreement, substantially in the form of the Model
PSA (and where such pooling and servicing agreement is not substantially the same as the Model PSA, and the changes would materially
and adversely affect the Mortgage Loan or the Note Holder’s rights with respect thereto), to be entered into in connection
with the Lead Securitization, it being acknowledged that such agreement is subject in all respects to changes (i) required by
the Code relating to the tax elections of the Lead Securitization Trust, (ii) required by law or changes in any law, rule or regulation
and (iii) requested by the Rating Agencies or any purchaser of subordinate certificates.

 

“Lead
Securitization Trust” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and
prior to the Note A-1 Securitization Date, the trust established under the First Non-Lead Note PSA in connection with the First
Non-Lead Note Securitization and, (b) from and after the Note A-1 Securitization Date, the trust established under the Note A-1
Securitization.

 

“Lead
Servicer” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and prior to the
Note A-1 Securitization Date, the servicer and/or special servicer designated under the First Non-Lead Note PSA and, (b) from
and after the Note A-1 Securitization Date, the servicer and/or special servicer designated under the Note A-1 PSA.

 

“Lead
Trustee” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and prior to the
Note A-1 Securitization Date, the trustee designated under the First Non-Lead Note Securitization and, (b) from and after the
Note A-1 Securitization Date, the trustee designated under the Note A-1 Securitization.

 

     -5-

     

    

 

“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 mean:

 

(i)
prior to the Securitization Date:

 

(a)          
any proposed or actual foreclosure upon or comparable conversion (which shall include acquisitions of any REO Property) of the
ownership of the Mortgaged Property;

 

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

 

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

 

(d)          any
sale of a Defaulted Mortgage Loan or REO Property for less than the applicable Purchase Price;

 

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

 

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

 

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

 

(h)          any
amendment, modification or termination of any Management Agreement (as defined in the Loan Agreement) and any property management
company changes, including, without limitation, approval of the termination of the existing property manager and appointment of
a new property manager, or franchise changes with respect to a Mortgage Loan, in each case for which the lender is required to
consent or approve such changes under the Mortgage Loan Documents;

 

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

 

     -6-

     

    

 

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

 

(k)          any
determination of an Acceptable Insurance Default;

 

(l)          any
proposed modification or waiver of the types, nature or amount of insurance coverage required to be obtained by the Borrower;

 

(m)          the
execution, termination, modification, waiver or amendment of any ground lease or the granting of a subordination and non-disturbance
or attornment agreement in connection with any ground lease, in each case, to the extent lender approval is required under the
Mortgage Loan Documents;

 

(n)          
any filing of a bankruptcy or similar action against the Borrower or Guarantor or the election of any action in a bankruptcy or
insolvency proceeding to seek relief from the automatic stay or dismissal of a bankruptcy filing or voting for or opposing a plan
of reorganization, seeking or opposing an order for adequate protection, adequate assurance, a Section 363 sale, order shortening
time or similar motion of procedure in an insolvency proceeding or making an Section 1111(b)(2) election on behalf of the Note
Holders;

 

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

 

(p)          approval
of the Annual Budget (as defined in the Loan Agreement) to the extent the Lender’s consent is required under the Loan Agreement;

 

(q)          approval
of (1) any replacement or substitution of a “Key Principal” (as defined in the Loan Agreement), and (2) any “Successor
Guarantor” (as defined in the Loan Agreement);

 

(r)          the
voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Borrower;

 

(s)          approval
of any replacement Special Servicer, other than under Section 18; or

 

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

 

     -7-

     

    

 

(ii)
from and after the Securitization Date, 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:

 

(a)          during
the period after the First Non-Lead Note Securitization Date but prior to the Note A-1 Securitization Date:

 

(i)          with
respect to the First Non-Lead Note, the “Master Servicer Remittance Date” (or analogous term) as defined in the First
Non-Lead Note PSA; and

 

(ii)          with
respect to each Non-Lead Note, (x) if such Note is included in a Securitization, two Business Days prior to the Master Servicer
Remittance Date (or analogous term) as defined in the applicable Non-Lead Servicing Agreement (as long as such date is at least
two Business Days after receipt of the Monthly Payment) and (y) with respect to each other Non-Lead Note, one Business Day after
the Determination Date (as defined in the Note A-1 PSA); and

 

(b)          after
the Note A-1 Securitization Date:

 

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

 

(ii)          with
respect to each Non-Lead Note, (x) if such Note is included in a Securitization, two Business Days prior to the Master Servicer
Remittance Date (or analogous term) as defined in the applicable Non-Lead Servicing Agreement (as long as such date is at least
two Business Days after receipt of the Monthly Payment) and (y) with respect to each other Non-Lead Note, one Business Day after
the Determination Date (as defined in the Note A-1 PSA).

 

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

 

“Model
PSA” shall mean the pooling and servicing agreement for the CSAIL 2018-CX11 Commercial Mortgage Trust, among Credit
Suisse Commercial Mortgage Securities Corp., as depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as master servicer, LNR Partners, LLC, as special servicer, Wells Fargo Bank, National Association, as certificate administrator
and as trustee, and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer.

 

“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.

 

     -8-

     

    

 

“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, with respect to each Note, the Mortgage Interest Rate set forth in the Mortgage Loan Schedule
with respect to such Note.

 

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

 

“Mortgage
Loan Documents” shall mean, the Mortgage, the Loan Agreement, the Notes, and all other documents now or hereafter evidencing,
securing or guaranteeing 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 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 to such term in the recitals.

 

“Natixis”
shall mean Natixis Real Estate Capital LLC, and its successors in interest.

 

“New
Note” shall have the meaning assigned to such term in Section 21.

 

“Non-Directing
Holders” shall mean the holders of any Note other than Note A-1, and if any of such Notes have been 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 applicable Non-Lead Servicing Agreement, to exercise the rights granted to the related Non-Directing Holder in this Agreement.
If Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 or Note A-8 is not included in a Securitization, the Non-Directing
Holder with respect to such Note will be the then-current Holder of such Note.

 

“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file with the Agent
for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by law and which,
pursuant to applicable provisions of (A) any income tax treaty between the United States and the country of residence of such
Person, (B) the Code or (C) any applicable rules or regulations in effect under clauses (A) or (B) above, permit Note A-1 Holder
to make such payments free of any obligation or liability for withholding.

 

     -9-

     

    

 

“Non-Lead
Note” shall mean (i) during the period from and after the First Non-Lead Note Securitization Date and prior to the Note
A-1 Securitization Date, each of the Notes that is not included in the First Non-Lead Note Securitization, and (ii) on and after
the Note A-1 Securitization Date, each of the Notes that is not included in the Note A-1 Securitization.

 

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

 

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

 

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

 

“Nonrecoverable
Advance” shall have the meaning assigned 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 Natixis or any subsequent holder of Note A-1.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
A-3 Holder” shall mean Natixis or any subsequent holder of Note A-3.

 

     -10-

     

    

 

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

 

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

 

“Note
A-4 Holder” shall mean Natixis or any subsequent holder of Note A-4.

 

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

 

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

 

“Note
A-5 Holder” shall mean Natixis or any subsequent holder of Note A-5.

 

“Note
A-5 Principal Balance” shall mean, at any time of determination, the initial Note A-5 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder and any reductions in such
amount pursuant to Section 4.

 

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

 

“Note
A-6 Holder” shall mean Natixis or any subsequent holder of Note A-6.

 

“Note
A-6 Principal Balance” shall mean, at any time of determination, the initial Note A-6 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder and any reductions in such
amount pursuant to Section 4.

 

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

 

“Note
A-7 Holder” shall mean Natixis or any subsequent holder of Note A-7.

 

“Note
A-7 Principal Balance” shall mean, at any time of determination, the initial Note A-7 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder and any reductions in such
amount pursuant to Section 4.

 

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

 

“Note
A-8 Holder” shall mean Natixis or any subsequent holder of Note A-8.

 

“Note
A-8 Principal Balance” shall mean, at any time of determination, the initial Note A-8 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of

 

     -11-

     

    

 

principal
thereon received by the Note A-8 Holder and any reductions in such amount pursuant to Section 4.

 

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

 

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

 

“P&I
Advance” shall mean an advance made by (a) a party to the Servicing Agreement with respect to a delinquent monthly debt
service payment on the Lead Note or (b) a party to a Non-Lead Servicing Agreement with respect to a delinquent monthly debt service
payment on a Non-Lead Note included in the related Non-Lead 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 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 $100,000,000 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.

 

“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

 

     -12-

     

    

 

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 each of:

 

(a)          the
initial Holders;

 

(b)          any
other Person that is an entity Controlled (as defined below) by, under Common Control with or Controlling of any of the initial
Holders;

 

(c)          UBS
AG, by and through its branch office at 1285 Avenue of the Americas; or

 

(d)          one
or more of the following:

 

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

 

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

 

(iii)          a
Qualified Trustee (or in the case of a CLO, a single purpose bankruptcy remote entity that contemporaneously assigns or pledges
the Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization
of, (b) the creation of collateralized debt obligations (“CLO”) secured by, or (c) a financing through an “owner
trust” of, a Note or any interest therein (any of the foregoing, a “Securitization Vehicle”), 

 

     -13-

     

    

 

provided that (1) one or more classes of securities issued by such Securitization Vehicle is initially rated at least investment grade
by two nationally recognized credit rating agencies; (2) the special servicer of such Securitization Vehicle has a Required Special
Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note or any interest therein in accordance
with servicing arrangements for the assets held by the Securitization Vehicle which require that such Approved Servicer act in
accordance with a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the
case of a Securitization Vehicle that is a 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, are each a Qualified Transferee under clauses
(i), (ii), (iv) or (v) of this definition, or

 

(iv)          an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $100,000,000, in which (A) any initial Holder, (B) a person that is otherwise a Qualified Transferee under clause
(i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or (ii) above)
or clause (C) below (with respect to an entity Controlled by an entity referred to in clause (i), (ii) or (v) (with respect to
an institution substantially similar to the entities referred to in clause (i) or (ii) above)), or (C) a Permitted Fund Manager,
acts as a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such
investment vehicle, or

 

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

 

(vi)          any
Person that is otherwise a Qualified Transferee but is acting in an agency capacity in connection with a lending syndicate, so
long as no more than fifty percent (50%) of the lenders in the lending syndicate (by loan balance or committed loan amounts) are
Qualified Transferees or

 

(vii)          a
private trust established and authorized under the laws of Korea (an “Acquiring Korean Trust”), so long as
the beneficiaries of, and owners of not less than 51% of the equity interest in, the Acquiring Korean Trust are, directly or indirectly,
Persons that are otherwise Qualified Transferees and satisfy the capital surplus/equity and total asset requirements set forth
below, and

 

in
the case of any entity referred to in clause (d)(i), (ii), (iv)(B) or (v) of this definition, (x) such entity or parent has at
least $100,000,000 in capital/statutory surplus or shareholders’ equity including uncalled capital commitments (except with
respect to a pension advisory firm, asset manager or similar fiduciary) and at least $250,000,000 in total assets including uncalled
capital commitments (in name or under management), and (y) is regularly engaged in the business of making or owning commercial
real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning or operating
commercial real estate properties; provided that, in the case of the entity described in clause (iv)(B) above, the

 

     -14-

     

    

 

requirements
of this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day
management and operation of such entity; or

 

(e)          any
entity approved by the Rating Agencies hereunder as a Qualified Transferee for purposes of this Agreement, or as to which the
Rating Agencies have stated they would not review such entity in connection with the subject transfer; or

 

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

 

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

 

“Rating
Agencies” shall mean Moody’s, Fitch, KBRA, Morningstar, DBRS 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 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

 

     -15-

     

    

 

Servicing
Agreement and the Non-Lead Servicing Agreement, 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
Loan” shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

 

“REO
Property” shall mean (i) prior to the Securitization Date, any Mortgaged Property, title to which has been acquired
by a Servicer on behalf of (or other Person designated by) the Holders through foreclosure, deed in lieu of foreclosure or otherwise
and (ii) from and after the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

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

 

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

 

“Securitization
Date” shall mean, with respect to any Note, the effective date on which the Securitization of such Note or first portion
thereof is consummated.

 

“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
Advances” shall mean (i) prior to the Securitization Date, the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, the meaning assigned to such term in the Servicing Agreement or such other analogous term used
in the Servicing Agreement.

 

“Servicing
Agreement” shall mean, (a) prior to the Securitization Date, the Interim Servicing Agreement and (b) during the period
from and after the Securitization Date, the Lead Securitization Servicing Agreement; provided that in the event the Lead Note
is no longer an asset of the trust fund created pursuant to the Servicing Agreement, the term “Servicing Agreement”
shall refer to the subsequent servicing agreement entered into pursuant to Section 2(d).

 

     -16-

     

    

 

“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 mean:

 

(x)          prior
to the Securitization Date, the procedures that the Master Servicer, as an independent contractor, follows in order to service
and administer the Mortgage Loan and administer REO Property solely on behalf of the Note Holders, as a collective whole as if
such Note Holders constituted one lender, as determined by the Master Servicer in the exercise of its good faith and reasonable
judgment, in accordance with applicable law, the terms of this Agreement and the Mortgage Loan Documents and, to the extent consistent
with the foregoing, the following standards: (i) the higher of (a) the same manner in which and with the same care, skill, prudence
and diligence with which the Master Servicer services and administers similar loans and administers foreclosed properties for
other third-party portfolios, giving due consideration to customary and usual standards of practice of prudent institutional commercial
mortgage lenders in servicing their own loans and administering their own foreclosed properties, or (b) with the care, skill,
prudence and diligence the Master Servicer uses for loans which it owns or for foreclosed properties it owns and administers;
(ii) with a view to the timely collection of (a) all scheduled payments of principal and interest under the Mortgage Loan or,
if the Mortgage Loan comes into and continues in default and if no satisfactory arrangements can be made for the collection of
the delinquent payments, the maximization of the recovery on the Mortgage Loan to the Note Holders, as a collective whole as if
such Note Holders constituted one lender on a net present value basis and (b) any reimbursable expenses and other amounts due
under the Mortgage Loan and (iii) without regard to:

 

(a)          any
relationship that the Master Servicer or its affiliates may have with the Borrower or any of its affiliates;

 

(b)          the
ownership of any other mezzanine loan by the Master Servicer or its affiliates;

 

(c)          its
obligation to make Advances;

 

(d)          the
right of the Master Servicer or its affiliates to receive reimbursement of costs, compensation or other fees (other than Advances),
or the sufficiency of any compensation payable to it under this Agreement or with respect to any particular transaction; or

 

(e)          the
ownership, servicing or management for others of any other loans or property by the Master Servicer; and

 

     -17-

     

    

 

(y)          from
and after the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

“Servicing
Transfer Event” shall have (i) prior to the Securitization Date, the meaning assigned to such term in the Model PSA
or such other analogous term used in the Model PSA and (ii) from and after the Securitization Date, the meaning assigned to such
term in Servicing Agreement or such other analogous term used 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.

 

“Trustee”
shall mean, with respect to any Securitization, the bank or trust company as may be selected by the applicable depositor and approved
by the Rating Agencies to act as trustee for such Securitization, and shall include any fiscal agent and/or paying agent appointed
for such Securitization..

 

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 prior to the first Securitization Date pursuant to the Interim Servicing Agreement and from
and after the first Securitization Date pursuant to the Lead Securitization Servicing Agreement; provided that prior to the first
Securitization Date, all servicing and other decisions with respect to matters set forth on Exhibit D hereto will be made
by unanimous consent of the holders of Note A-1, Note A-2 and Note A-4.

 

Each
Holder agrees to reasonably cooperate with each Servicer with respect to its exercise of its rights and obligations under the
Servicing Agreement.

 

(b)          The
Lead Securitization Servicing Agreement shall contain terms and conditions that are customary for securitization transactions
involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax elections of
the trust fund established under the Lead Securitization, (ii) required by law or changes in any law, rule or regulation or (iii)
requested by the Rating Agencies rating the Lead Securitization. In addition, the Lead Securitization Servicing Agreement and
each Non-Lead Servicing Agreement shall have such additional provisions as are set forth in Section 21. The Lead NoteHolder
shall

 

     -18-

     

    

 

have
the right to designate the Master Servicer for the Lead Securitization as long as each such party is a Qualified Servicer.

 

(c)          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 related 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).

 

(d)          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 any Non-Lead Note is in a Securitization,
subject to receipt of a Rating Agency Confirmation from the Rating Agencies that were engaged by the applicable 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.

 

(e)          Notwithstanding
anything to the contrary contained herein (including Sections 4 and 16(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 any Non-Lead
Note Holder may separately appoint a servicer for its Non-Lead Note, by itself or together with other assets, but any such servicer
will have no responsibility hereunder and shall be compensated solely by the applicable Non-Lead Note Holder from funds payable
to it hereunder or otherwise.

 

(f)          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.

 

(g)          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

 

     -19-

     

    

 

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.

 

(h)          In
the event that one of the Notes is included in a REMIC, the other Holders 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 Holders be reduced to offset or make-up any such payment or deficit.

 

3.          Priority
of Notes. Each Note shall be of equal priority, and no portion of any Note 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 each Note 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 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, except
that, for so long as any Note is not included in a Securitization, any Penalty Charges allocated to such Note that are not applied
pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or
the Special Servicer without the express consent of such Holder.

 

4.          Workout.
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and Section 16 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

 

     -20-

     

    

 

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, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 or Note
A-8 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, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 and Note A-8 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 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 each Note by wire transfer to accounts maintained by the applicable
Holder; 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 any Note determines, or a court of competent
jurisdiction orders, at any time that any amount received or collected in respect of such Note must, pursuant to any insolvency,
bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the another 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 such Holder and the subject Holder shall promptly on demand repay to such Servicer the portion
thereof that has been distributed to such Holder, together with interest thereon at such rate, if any, as such Servicer shall
have been required to pay to the Borrower, any other Holder, any Servicer or such other person or entity with respect thereto.
Each Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall
have the right to offset any amounts due hereunder from any Holder with respect to the Mortgage Loan against any future payments
due to such Holder under the Mortgage Loan, provided, that the obligations of each Holder under this Section 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 each 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 20 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

 

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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.

 

(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 Holders 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 Holders
shall have no responsibility for (i) the

 

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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
Holders 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 Holders 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 any of
the other Holders, 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.
None of the Holders shall have any obligation whatsoever to purchase from any other Holder any notes or interests in any future
loans originated by any other Holder or any of its Affiliates.

 

10.        Not
a Security. None of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 nor Note A-8 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 Holders 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 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. No Holder shall Transfer more than 49%
(in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization of any Note, each non-transferring
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

 

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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 each of the other Holders. Notwithstanding the foregoing, without the prior consent of each non-transferring
Holder (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 related 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 or to UBS AG,
by and through its branch office at 1285 Avenue of the Americas, at least five (5) days prior to a transfer of any Note, the transferring
Holder shall provide to the other Holders 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 thereof) that has extended a credit or repurchase facility to 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, provided that, a Note Pledgee that is not a Qualified Transferee may not take title
to the pledged Note without a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder to the other Holders
and the Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Holders
agree 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 Holders
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

 

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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 Business Days after request therefor;
(iv) that the other Holders 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 Holders 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 Holders; 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 pay 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 Holders 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 Holders and the Servicer shall recognize such Note Pledgee
(and any transferee other than the Borrower or any Affiliate thereof 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 its 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 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.        Registration
of Transfer. In connection with any Transfer of a Note (but excluding any Note Pledgee unless and until it realizes on its
Pledge), except for transfer of a participation interest, a transferee shall execute an assignment and assumption agreement whereby
such transferee assumes all of the obligations of the applicable Holder hereunder with respect to such Note thereafter accruing
and agrees to be bound by the terms of this Agreement, including the restriction on Transfers set forth in Section 12,
from and after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not be required to execute
an assignment and assumption agreement in connection with any Transfer of a Note if the obligations are assumed pursuant to the
Servicing Agreement. No transfer of a Note may be

 

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made
unless it is registered on the Note Register, and the Agent shall not recognize any attempted or purported transfer of any Note
in violation of the provisions of Section 12 and this Section 13. Any such purported transfer shall be absolutely
null and void and shall vest no rights in the purported transferee. Each Holder desiring to effect such transfer shall, and does
hereby agree to, indemnify the Agent and any other Holder against any liability that may result if the transfer is not made in
accordance with the provisions of this Agreement. Upon a Securitization of Note A-1, the Certificate Administrator shall automatically
become and be the Agent.

 

14.        Registration
of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts
such appointment. The names and addresses of the holders of the Notes, the principal amount (and stated interest) of the Notes
owing to each Holder and the names and addresses of any transferee of any Note of which the Agent has received notice, in the
form of a copy of the assignment and assumption agreement referred to in Section 13, shall be registered in the Note Register.
The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes
of this Agreement, except in the case of the Initial Note A-1 Holder and the Initial Note A-2 Holder who may hold their Notes
through a nominee. Upon request of a Holder, the Agent shall provide such party with the names and addresses of the other Holders.
To the extent another party is appointed as Agent hereunder, each Note Holder hereby designates such person as its agent under
this Section 14 solely for purposes of maintaining the Note Register.

 

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

 

16.        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

 

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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 16(a).

 

(b)        The
Lead Servicer and the related Trustee shall not have any fiduciary duty to the Non-Lead Note Holders 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 Notes). Any such sale of the entire Defaulted Mortgage Loan is subject to the satisfaction
of the following:

 

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

 

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

 

(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.

 

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Any
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 Holders and the Non-Directing Holders 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 Holders hereby appoint 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 Notes. Each Non-Lead Note Holder further agrees that, upon the request of the Lead Note Holder, such 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 Notes, and the obligations of the Non-Lead Note Holders to execute and
deliver instruments or deliver the Non-Lead Notes 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 Natixis, 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 Natixis, as the initial Note A-1 Holder with respect to the Lead Note upon the consummation of the Lead Securitization.

 

(d)          Notwithstanding
anything to the contrary contained herein, the exercise by the Servicer on behalf of the Holders of its rights under this Section
16 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.

 

17.          Rights
of the Directing Holder. (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

 

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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.

 

(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 Holders or any other Person for any action taken, or for refraining from
the taking of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or the 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

 

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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.

 

18.          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 Holders and the parties to the Lead Securitization Servicing Agreement
and each Non-Lead Servicing Agreement 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 prior to the Note A-1 Securitization, 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 the 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 replace the Special Servicer, but the Directing Holder may not restore a Special Servicer that has been removed in accordance
with the preceding sentence.

 

19.          Rights
of the Non-Directing Holders. (a) The Lead Securitization 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 Holders (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 a Non-Lead Note has been included in a Securitization, then for any information for which the Special Servicer would be
required to provide to the related 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

 

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(ii)          to
consult with each 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 such
Non-Directing Holder; provided that after the expiration of a period of ten (10) Business Days from the delivery to each
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 Holders, whether
or not the Non-Directing Holders have 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 Holders, 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 Holders 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.

 

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

 

(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 19.

 

20.          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 a 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 a Non-Lead Note.
The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any 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, any other Non-Lead Note any or any Property Advance. The Lead Servicer, each 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 Lead Securitization
Servicing Agreement and each other Non-Lead Servicing Agreement, as applicable.

 

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(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, each
Non-Lead Note Holder (including any Securitization into which any 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, each Non-Lead Note Holder (including any Securitization into which any Non-Lead
Note is deposited) shall promptly reimburse the Lead Servicer or the related Trustee for such 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 Lead Securitization Servicing Agreement and and each Non-Lead Servicing Agreement 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 Lead Securitization Servicing Agreement and each other Non-Lead Servicing Agreement, as applicable.

 

(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 each Non-Lead Note
share from the Non-Lead Note Holders.

 

21.          Provisions
Relating to Securitization. For so long as Natixis or an Affiliate of Natixis (an “Initial Note Holder”)
is the owner of any Notes, such Initial Note Holder shall have the right, subject to the terms of the Mortgage Loan Documents,
to cause the Borrower to execute amended and restated notes (“Amended Notes”) or additional notes (the “New
Notes”) reallocating the principal of the Note or Notes that it owns (but in no case any Note that it does not own)
among Amended Notes and New Notes or severing a Note into one or more further “component” notes in the aggregate principal
amount equal to the then outstanding principal balance of the Note or Notes being amended or created, provided that (i)
the aggregate principal balance of the Amended Notes and New Notes following such amendments is no greater than the principal
balance of the Amended Notes and New Notes prior to such amendments, (ii) all New Notes continue to have the same interest rate
as the Amended Note of which is was a part prior to such amendments, (iii) all New Notes pay pro rata and on a pari
passu basis with the Amended Notes and such reallocated or component notes shall be automatically subject to the terms of
this Agreement and (iv) the Initial Note Holder holding the New Notes shall notify each

 

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other
Holder, as applicable, and, if any other Note has been included in a securitization, the parties under each applicable pooling
and servicing agreement, 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 any or all of the Holders solely for the purpose of reflecting such reallocation
of principal or such severing of a Note, (2) if a Note is severed into “component” notes, such component notes shall
each have their same rights as the respective original Note, (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 Notes and (4) if Natixis is
the current Directing Holder, it may designate the holder of a different Note to be the Directing Holder. Rating Agency Confirmation
shall not be required for any amendments to this Agreement required to facilitate the terms of this Section 21(a). The
Initial Note Holder whose Note is being reallocated or split pursuant to this Section 21(a) shall reimburse the other Holders
for all costs and expenses incurred by the other Holders in connection with the reallocation or split. If a New Note is created
out of the Lead Note the Initial Note A-1 Holder shall designate which Note will be the Lead Securitization Note hereunder.

 

(b)          
Each Non-Lead Note Holder agrees that (if the Non-Lead Note is included in a Securitization other than the Lead Securitization)
it shall cause its related Non-Lead Servicing Agreement to provide as follows:

 

(i)          the
applicable master servicer and 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;

 

(iii)          in
the event such 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 20, and funds received
with respect to such 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 Lead 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 Lead Trustee to pay itself from the Lead Securitization Trust’s
general account then the master servicer under the related 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;

 

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(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 Lead 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 any Non-Lead Servicing Agreement, as applicable, shall acknowledge that, (i) each of
the Master Servicer and the Lead Trustee under the Servicing Agreement will be a third party beneficiary under such 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 Lead 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 such
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 such 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 the Non-Lead
Note; and

 

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

 

(c)          Each
Non-Lead Note Holder shall provide the depositor, the Servicer and the Special Servicer under the Lead Securitization Servicing
Agreement (if such party is not also a party to the Lead Securitization Servicing Agreement) notice of the related Non-Lead Note
Securitization in writing (which may be by email) prior to or promptly following such Non-Lead Note Securitization. Such notice
shall contain contact information for each of the parties to the related Non-Lead Servicing Agreement. In addition, after the
related Securitization Date, the Holder of the related Non-Lead Note shall send a copy of the related Non-Lead Servicing Agreement
to the depositor, the Servicer and the Special Servicer under the Lead Securitization Servicing Agreement if such party is not
also a party to the Lead Securitization Servicing Agreement.

 

(d)          The
Lead Securitization Servicing Agreement shall provide that:

 

(i)          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

 

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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 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 2 Business Days after such determination was made;

 

(iii)          the
Master Servicer shall remit all payments received (or advanced) with respect to any 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 each Non-Lead
Note Holder on the applicable Master Servicer Remittance Date;

 

(iv)          the
Master Servicer agrees to make available to each master servicer under each 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)          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 trustee for any prior Securitization a copy of the Servicing Agreement and each 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

 

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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 related
Non-Lead Servicing Agreements;

 

(vi)          the
servicing duties of each of the Master Servicer and Special Servicer under the Servicing Agreement shall include the duty to service
each 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 with respect to any Non-Lead Note, the Master Servicer shall withdraw from the related Collection Account and remit to the
applicable Non-Lead Note Holder, within two (2) Business Days of receipt of properly identified funds, any amounts that represent
late collections or principal prepayments on the Non-Lead Note or any successor REO Property with respect thereto (exclusive of
any portion of such amount payable or reimbursable to any third party in accordance with this Agreement), unless such amount would
otherwise be included in the monthly remittance to the Non-Lead Note Holder for such month; provided, however, that
to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall
use commercially reasonable efforts to remit such late collections or principal prepayments to the Non-Lead Master Servicer within
one Business Day of receipt of properly identified funds;

 

(viii)          the
Non-Lead Note Holders are intended third-party beneficiaries 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)          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)          it
shall not be amended in a manner that materially and adversely affects the rights of the Non-Lead Note Holders without their consent;
and

 

(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)          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 each 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

 

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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 each 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)          “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 Holders as required, failure to deliver (or
cause to be delivered) materials or information required in order for the Non-Lead Note Holders 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 a Non-Lead Servicing Agreement to fail to comply with
the applicable provisions of such securities laws);

 

(xiv)          if
a Non-Lead Note becomes the subject of an “asset review” under a 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 such 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 related Non-Lead Note Holder and such documents are in the possession of the
applicable party to the Servicing Agreement; and

 

(xv)          have
provisions materially consistent with those set forth in the First Non-Lead Note PSA with respect to:

 

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

 

(B)          
the authority of the servicers in the First Non-Lead Note Securitization to grant or agree or consent to material modifications,
waivers and amendments to the Mortgage Loan, or to approve material assignments and assumptions or material additional indebtedness
in connection with the Mortgage Loan;

 

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

 

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

 

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(E)          
subject to various adjustments and caps provided for in the Lead Securitization Servicing Agreement (which shall be substantially
similar to those set forth in the First Non-Lead Note PSA), primary servicing, special servicing, workout and liquidation fees
(and, in any event, the fees at which such compensation accrue or are determined shall not exceed 0.0025% per annum, 0.25%
per annum, 1.00% and 1.00%, respectively),

 

provided,
however, that (1) this clause (xv) shall not be construed to prohibit differences in timing, control or consultation triggers
or thresholds, terminology, allocation of ministerial duties between multiple servicers or other service providers or certificate
holder or investor voting or consent thresholds, or to prohibit or restrict additional approval, consent, consultation, notice
or rating agency confirmation requirements; and (2) in the event of any conflict between this sentence and any other provision
of this Agreement, such other provision of the Agreement shall control.

 

(e)          If
any provision required to be included in the Lead Securitization Servicing Agreement or a Non-Lead Servicing Agreement 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 Lead Securitization Servicing Agreement or such Non-Lead Servicing Agreement, as the
case may be

 

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

 

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

 

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

 

(b)          CONSENTS
THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION THAT
IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF

 

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ANY
SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES
NOT TO PLEAD OR CLAIM THE SAME;

 

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

 

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

 

24.          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
21(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.

 

25.          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, the Trustee and the master servicer,
special servicer and trustee under any Non Lead Servicing Agreement 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.

 

26.          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

 

27.          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.

 

28.          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

 

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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.

 

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

 

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

 

31.          Withholding
Taxes. 

 

(a)          If
the Note A-1 Holder or the Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other amounts
payable to a Non-Lead Note Holder with respect to the Mortgage Loan as a result of such Non-Lead Note Holder constituting a Non-Exempt
Person, the Note A-1 Holder, in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead Note Holder’s
interest in such payment (all withheld amounts being deemed paid to such Non-Lead Note Holder), provided that the Note
A-1 Holder shall furnish such Note Holder with a statement setting forth the amount of Taxes withheld, the applicable rate and
other information which may reasonably be requested for purposes of assisting such Note Holder to seek any allowable credits or
deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is subject to tax.

 

(b)          Each
Non-Lead Note Holder shall and hereby agrees to indemnify the Note A-1 Holder against and hold the Note A-1 Holder harmless from
and against any Taxes, interest, penalties and reasonable attorneys’ fees and disbursements arising or resulting from any
failure of the Note A-1 Holder (or the Servicer on its behalf) to withhold Taxes from payment made to such Non-Lead Note Holder
in reliance upon any representation, certificate, statement, document or instrument made or provided by such Non-Lead Note Holder
to the Note A-1 Holder in connection with the obligation of the Note A-1 Holder to withhold Taxes from payments made to such Non-Lead
Note Holder, it being expressly understood and agreed that the Note A-1 Holder shall be absolutely and unconditionally entitled
to accept any such representation, certificate, statement, document or instrument as being true and correct in all respects and
to fully rely thereon without any obligation or responsibility to investigate or to make any inquiries with respect to the accuracy,
veracity, correctness or validity of the same.

 

(c)          Contemporaneously
with the execution of this Agreement and from time to time as reasonably requested by the Note A-1 Holder or Servicer during the
term of this Agreement, each Non-Lead Note Holder shall deliver to the Note A-1 Holder or Servicer, as applicable, evidence satisfactory
to the Note A-1 Holder substantiating whether each Non-Lead

 

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Note
Holder is a Non-Exempt Person and whether the Note A-1 Holder is obligated under applicable law to withhold Taxes on sums paid
to it with respect to the Mortgage Loan or otherwise under this Agreement. Without limiting the effect of the foregoing, (i) if
any Non-Lead Note Holder is created or organized under the laws of the United States, any state thereof or the District of Columbia,
it shall satisfy the requirements of the preceding sentence by furnishing to the Note A-1 Holder an Internal Revenue Service Form
W-9 and (ii) if any Non-Lead Note Holder is not created or organized under the laws of the United States, any state thereof or
the District of Columbia, and if the payment of interest or other amounts by the Borrower is treated for United States income
tax purposes as derived in whole or part from sources within the United States, such Non-Lead Note Holder shall satisfy the requirements
of the preceding sentence by furnishing to the Note A-1 Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate
attachments) or Form W-8BEN or Form W-8BEN-E, as applicable, or successor forms, as may be required from time to time, duly executed
by such Non-Lead Note Holder. The Note A-1 Holder shall not be obligated to make any payment hereunder to any Non-Lead Note Holder
in respect of any Non-Lead Note or otherwise until such Non-Lead Note Holder shall have furnished to the Note A-1 Holder the requested
forms, certificates, statements or documents.

 

32.          Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will initially be held
by the initial Agent (or by a custodian on its behalf) and from and after the Securitization Date, by the trustee under the Lead
Securitization Servicing Agreement (or by a custodian on its behalf) under the terms of the Lead Securitization Servicing Agreement
on behalf of all of the Holders.

 

33.          Certain
Matters Affecting the Agent.

 

(a)          The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 13;

 

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

 

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

 

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

 

(e)          The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 13; and

 

     -41-

     

    

 

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

 

34.          Termination
of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Note A-1 Holder. In the
event that the Agent is terminated pursuant to this Section 34, all of its rights and obligations under this Agreement
shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

 

The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Holders, has agreed to
be bound by this Agreement and perform the duties of the Agent hereunder. Natixis, as Initial Agent, may transfer its rights and
obligations to the Servicer, as successor Agent, at any time without the consent of any Holder. Natixis, as Initial Agent, shall
promptly and diligently attempt to cause such Servicer to act as successor Agent, and, if such Servicer declines to act in such
capacity, shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. The termination or resignation
of such Servicer, as Servicer under the Servicing Agreement, shall be deemed a termination or resignation of such Servicer as
Agent under this Agreement. Notwithstanding the to the contrary in this Agreement, upon a Securitization of Note A-1, the Certificate
Administrator shall automatically become and be the Agent.

 

[NO
FURTHER TEXT ON THIS PAGE]

 

     -42-

     

    

 

IN
WITNESS WHEREOF, each of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder,
the Note A-6 Holder, the Note A-7 Holder and the Note A-8 Holder has caused this Agreement to be duly executed as of the day and
year first above written.

 

	 	Note
    A-1 Holder and Initial Agent:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:
    Khaled Mohiuddin
	 	 	Title:   Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

	 	Note
    A-2 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

Signature
Page

Riverfront
Plaza Co-Lender Agreement

 

     

     

    

 

	 	Note
    A-3 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

	 	Note
    A-4 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

	 	Note
    A-5 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

Signature
Page

Riverfront
Plaza Co-Lender Agreement

 

     

     

    

 

	 	Note
    A-6 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

	 	Note
    A-7 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

  

	 	Note
    A-8 Holder:
	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 
	 	By:	/s/
    Khaled Mohiuddin
	 		Name:  
    Khaled Mohiuddin
	 	 	Title:     Director

 

	 	By:	/s/
    Delphine Clerjaud
	 		Name:
    Delphine Clerjaud
	 	 	Title:   Director

 

Signature
Page

Riverfront
Plaza Co-Lender Agreement

 

     

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

A.          Description
of Mortgage Loan

 

	Mortgage
    Loan	 
	Borrower:	Richmond
    Riverfront Plaza, LP
	Mortgage
    Loan Origination Date:	May
    4, 2018
	Initial
    Principal Amount of Mortgage Loan:	$146,000,000
	Location
    of Mortgaged Property:	Richmond,
    Virginia
	Current
    Use of Mortgaged Property:	Office
    Building
	Mortgage
    Interest Rate:	5.0659480%
    per annum
	Maturity
    Date:	May
    5, 2028

 

    A-1

     

    

 

B.          Description
of Notes

 

	Mortgage
    Loan Origination Date:	May
    4, 2018
	Initial
    Note A-1 Principal Balance:	$30,000,000
	Initial
    Note A-2 Principal Balance:	$30,000,000
	Initial
    Note A-3 Principal Balance:	$20,000,000
	Initial
    Note A-4 Principal Balance:	$20,000,000
	Initial
    Note A-5 Principal Balance:	$15,000,000
	Initial
    Note A-6 Principal Balance:	$15,000,000
	Initial
    Note A-7 Principal Balance:	$10,000,000
	Initial
    Note A-8 Principal Balance:	$6,000,000
	Initial
    Note A-1 Percentage Interest:	20.5%
	Initial
    Note A-2 Percentage Interest:	20.5%
	Initial
    Note A-3 Percentage Interest:	13.7%
	Initial
    Note A-4 Percentage Interest:	13.7%
	Initial
    Note A-5 Percentage Interest:	10.3%
	Initial
    Note A-6 Percentage Interest:	10.3%
	Initial
    Note A-7 Percentage Interest:	6.9%
	Initial
    Note A-8 Percentage Interest:	4.1%
	Note
    A-1 Interest Rate:	5.0659480%
    per annum
	Note
    A-2 Interest Rate:	5.0659480%
    per annum
	Note
    A-3 Interest Rate:	5.0659480%
    per annum
	Note
    A-4 Interest Rate:	5.0659480%
    per annum
	Note
    A-5 Interest Rate:	5.0659480%
    per annum
	Note
    A-6 Interest Rate:	5.0659480%
    per annum
	Note
    A-7 Interest Rate:	5.0659480%
    per annum
	Note
    A-8 Interest Rate:	5.0659480%
    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) 5% 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) 5% above the Note A-2
                                                                                                                                               Interest Rate, compounded monthly

	Note
    A-3 Default Interest Rate:	A
                                                                                                                                               rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) 5% above the Note A-3
                                                                                                                                               Interest Rate, compounded monthly

	Note
    A-4 Default Interest Rate:	A
                                                                                                                                               rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) 5% above the Note A-4
                                                                                                                                               Interest Rate, compounded monthly

	Note
    A-5 Default Interest Rate:	A
                                         rate per annum equal to the lesser of (i) the maximum rate permitted by

        

 

    A-2

     

    

 

	 	applicable
    law, or (ii) 5% above the Note A-5 Interest Rate, compounded monthly
	Note
    A-6 Default Interest Rate:	A
                                         rate per annum equal to the lesser of (i) the maximum rate permitted by

        applicable
        law, or (ii) 5% above the Note A-6 Interest Rate, compounded monthly

	Note
    A-7 Default Interest Rate:	A
                                         rate per annum equal to the lesser of (i) the maximum rate permitted by

        applicable
        law, or (ii) 5% above the Note A-7 Interest Rate, compounded monthly

	Note
    A-8 Default Interest Rate:	A
                                         rate per annum equal to the lesser of (i) the maximum rate permitted by

        applicable
        law, or (ii) 5% above the Note A-8 Interest Rate, compounded monthly

 

    A-3

     

    

 

EXHIBIT
B

 

Note
A-1 Holder, Note A-2 Holder, Note A-3 Holder, Note A-4 Holder, Note A-5 Holder, Note A-6 Holder, Note A-7 Holder and Note A-8
Holder:

 

Natixis
Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

with
a copy to:

Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Office of the General Counsel

for legal notices, with a copy to:

 

legal.notices@natixis.com

 

    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

 

    C-1

     

    

 

EXHIBIT
D

 

UNANIMOUS
CONSENT DECISIONS

 

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

 

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

 

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

 

		(iv)	any
                                         sale of the Mortgage Loan or REO Property for amount less than the total amount due and
                                         outstanding on the Mortgage Loan at such time;

 

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

 

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

 

		(vii)	any
                                         waiver of a “due-on-sale” or “due-on-encumbrance” clause with
                                         respect to the Mortgage Loan or any consent to such a waiver or consent to a transfer
                                         of the Mortgaged Property or interests in the Borrower;

 

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

 

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

 

		(x)	any
                                         property management company or franchise changes, including, without limitation, approval
                                         of the termination of the existing property manager or franchisor and appointment of
                                         a new property manager or franchisor (in each case, to the extent lender’s consent
                                         is required under the Mortgage Loan Documents);

 

    D-1

     

    

 

		(xi)	releases
                                         of any material amounts from any escrow accounts, reserve funds or letters of credit,
                                         in each case, held as performance escrows or reserves, other than those required pursuant
                                         to the specific terms of the Mortgage Loan Documents and for which there is no lender
                                         discretion (the determination of whether the conditions precedent to releasing any such
                                         escrow accounts, reserve funds or letters of credit have been satisfied shall not constitute
                                         matters of lender discretion for purposes of this clause (xi));

 

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

 

		(xiii)	any
                                         vote on any plan of reorganization, restructuring or similar plan in the bankruptcy of
                                         the Borrower;

 

		(xiv)	any
                                         consent to the subordination of the lien on the Mortgaged Property or to crossing the
                                         lien on the Mortgaged Property with the lien on any other Mortgaged Property, except
                                         as expressly permitted by the Mortgage Loan Documents without lender’s consent;
                                         or

 

		(xv)	any
                                         determination as to application of any insurance proceeds with respect to the Mortgaged
                                         Property.

 

    D-2Exhibit 4.10

 

EXECUTION
VERSION

 

CO-LENDER AGREEMENT

 

Dated as of July 25, 2018

 

by and between

 

NATIXIS REAL ESTATE CAPITAL LLC

(Note A Holder)

 

and

 

NATIXIS REAL ESTATE CAPITAL LLC

(Note B-1 Holder)

 

and

 

NATIXIS REAL ESTATE CAPITAL LLC

(Note B-2 Holder)

 

QUEENS PLACE

 

    1

     

    

 

THIS CO-LENDER AGREEMENT (the “Agreement”),
dated as of July 25, 2018 by and among NATIXIS REAL ESTATE CAPITAL LLC, a Delaware limited liability company (“Natixis”),
having an address at 1251 Avenue of the Americas, New York, New York 10020 (in its capacity as initial owner of Note A, the “Initial
Note A Holder”, and in its capacity as the initial agent, the “Initial Agent”), and Natixis, having
an address at 1251 Avenue of the Americas, New York, New York 10020 (in its capacity as initial owner of Note B-1, the “Initial
Note B-1 Holder”) and Natixis, having an address at 1251 Avenue of the Americas, New York, New York 10020 (in its capacity
as initial owner of Note B-2, the “Initial Note B-2 Holder”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Loan Agreement (as defined herein) Natixis originated a certain loan described on the schedule attached hereto as Exhibit
A (the “Mortgage Loan Schedule”) (the “Mortgage Loan”) to the mortgage loan borrower(s)
described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which is evidenced by (a) that certain
Consolidated, Amended and Restated Promissory Note in the principal amount of $100,000,000.00 dated as of April 12, 2018 (the “Original
Note”), and secured by a certain first deed of trust lien (as amended, modified or supplemented, the “Mortgage”)
on one or more parcels of, or estates in, real property located as described on the Mortgage Loan Schedule (collectively, the “Mortgaged
Property”);

 

WHEREAS, Natixis has
elected to amend and restate the Original Note and split the Original Note into three (3) promissory notes as follows: (i) Promissory
Note A in the principal amount of $42,000,000.00 (as amended, modified or supplemented, “Note A”) made by the
Mortgage Loan Borrower in favor of the Initial Note A Holder; (ii) Promissory Note B-1 in the original principal amount of $43,000,000.00
(as amended, modified or supplemented, “Note B-1”) made by the Mortgage Loan Borrower in favor of the Initial
Note B-1 Holder; and (iii) Promissory Note B-2 in the original principal amount of $15,000,000.00 (as amended, modified or supplemented,
“Note B-2”) made by the Mortgage Loan Borrower in favor of the Initial Note B-2 Holder; and

 

WHEREAS, the Initial
Note A Holder, the Initial Note B-1 Holder and the Initial Note B-2 Holder desire to enter into this Agreement to memorialize the
terms under which the Initial Note A Holder the Initial Note B-1 Holder and the Initial Note B-2 Holder are holding Note A, Note
B-1 and Note B-2, respectively, in the Mortgage Loan.

 

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:

 

Section 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
meaning assigned to such term or such other analogous term used in (i) prior to the Securitization Date, the Model PSA and (ii)
from and after the Securitization Date, 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” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
or such other analogous term used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning assigned
to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

“Additional
Servicing Expenses” shall mean (a) all property protection advances, fees and/or expenses incurred by and reimbursable
to any Servicer, Trustee, Securitization Operating Advisor, certificate administrator or pursuant to the Servicing Agreement, and
(b) all interest accrued on Advances made by any Servicer or Trustee in accordance with the terms of the Servicing Agreement; provided
that: (i) the aggregate special servicing fee (which fee is payable solely during the period that the Mortgage Loan is specially
serviced) shall not exceed 0.25% (subject to industry standard monthly floor amounts, if so provided in the Servicing Agreement),
(ii) the special servicing liquidation fee (or equivalent) shall not exceed 1.00% of the collections made with respect to the Mortgage
Loan or any sums received from proceeds from the disposition of the Mortgaged Property or the Mortgage Loan, as the case may be
(subject to a floor of $25,000); and (iii) the special servicing workout fee (or equivalent) shall not exceed 1.00% of the collections
made with respect to the Mortgage Loan while the Mortgage Loan is a performing or Corrected Mortgage Loan (subject to a floor of
$25,000).

 

“Advance Interest
Amount” shall mean interest payable on Advances, as specified in the Servicing Agreement.

 

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

 

“Affiliate”
shall mean, with respect to any specified Person, any other Person Controlling, Controlled by or under common Control with such
specified Person.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after the
Securitization Date shall mean the Master Servicer in its role as “Companion Paying Agent” (or equivalent term) under
the Servicing Agreement.

 

“Agent Office”
shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement is located at
Natixis Real Estate Capital LLC, 1251 Avenue of the Americas, New York, New York 10020, and which is the address to which notices
to and correspondence with the Agent should be directed. The Agent may change the address of its designated office by notice to
the Noteholders.

 

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

 

“Appraisal”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA or such other analogous term
used in the Model PSA and (ii)

 

    2

     

    

 

 

from
and after the Securitization Date, shall have the meaning assigned to such term in the Servicing Agreement or such other analogous
term used in the Servicing Agreement.

 

“Appraisal Reduction
Amount” shall mean:

 

(A)          prior
to the Securitization Date, after the occurrence of an Appraisal Trigger Event, an amount (calculated immediately following the
later of the date on which the Appraisal Trigger Event occurs and the date on which the applicable Appraisal was obtained) equal
to the excess, if any, of:

 

(a)          the
sum of, without duplication, (i) the outstanding Principal Balance of the Mortgage Loan as of the applicable date of determination,
(ii) to the extent not previously advanced by or on behalf of the Master Servicer or the Trustee, all unpaid interest on the Mortgage
Loan through the most recent Due Date prior to the date of determination (exclusive of any portion thereof that represents Default
Interest), (iii) all other amounts (excluding principal, default interest, late charges, penalty charges, exit fees, Prepayment
Premiums and any similar amounts) due and unpaid with respect to the Mortgage Loan, (iv) all related unreimbursed Advances made
by or on behalf of (plus all accrued and unpaid interest on such Advances (other than Unliquidated Advances) payable to) the Master
Servicer, the Special Servicer and/or the Trustee with respect to Mortgage Loan, (v) any other unpaid trust fund expenses (excluding
any costs that do not relate directly to the Mortgage Loan), and (vi) all currently due and unpaid real estate taxes and assessments,
insurance premiums and, if applicable, ground rents, and any unfunded improvement or other applicable reserves, in respect of the
related Mortgaged Property or REO Property, as the case may be (in each case, net of any amounts escrowed with the Master Servicer
or the Special Servicer for such items); over

 

(b)          an
amount equal to the sum of: (i) the excess, if any, of (x) 90% of the Appraised Value of the Mortgaged Property (or REO Property)
as determined by the applicable Appraisal or any letter update of such Appraisal, over (y) the amount of any obligations secured
by liens on such Mortgaged Property (or REO Property) that are prior to the lien of the Mortgage Loan; plus (ii) the
amount of any Escrow Payments and/or reserve funds held by the Master Servicer or the Special Servicer with respect to the Mortgage
Loan, the related Mortgaged Property or any related REO Property that are not being held in respect of any real estate taxes
and assessments, insurance premiums or, if applicable, ground rents; plus (iii) the amount of any letter of credit
constituting additional security for the Mortgage Loan and that may be applied towards the reduction of the principal balance of
the Mortgage Loan; plus (iv) the amount of any Threshold Event Collateral then held by the Servicer; and

 

(B)          from
and after the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

“Appraisal Review
Period” shall have the meaning assigned to such term in Section 5(h)(ii).

 

“Appraisal Trigger
Event” shall mean the earliest of the date on which the Mortgage Loan: (a) becomes a modified Mortgage Loan following
the occurrence of a Servicing Transfer Event, (b) becomes an REO Loan, (c) with respect to which a receiver or similar official

 

    3

     

    

 

is
appointed and continues for thirty (30) days in such capacity in respect of the Mortgaged Property, (d) the Mortgage Loan Borrower
becomes the subject of bankruptcy, insolvency or similar proceedings or, if such proceedings are involuntary, such proceedings
remain undismissed for sixty (60) days, (e) any Monthly Payment (other than a Balloon Payment) becomes one hundred twenty (120)
days or more delinquent, or (f) the Mortgage Loan Borrower fails to make when due any Balloon Payment and the Mortgage Loan Borrower
does not deliver to the Master Servicer or the Special Servicer, on or before the due date of the Balloon Payment, a written and
fully executed (subject only to customary final closing conditions) refinancing commitment from an acceptable lender and reasonably
satisfactory in form and substance to the Master Servicer (and the Master Servicer shall promptly forward such commitment to the
Special Servicer) which provides that such refinancing will occur within ninety (90) days after the date on which the Balloon
Payment will become due (provided that if either such refinancing does not occur during that time or the Master Servicer is required
during that time to make any P&I Advance in respect of the Mortgage Loan, an Appraisal Trigger Event will occur immediately).

 

“Appraised-Out
Holder” shall have the meaning assigned to such term in Section 5(h)(i).

 

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

 

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

 

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

 

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

 

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

 

“Certificate
Administrator” shall mean the certificate administrator under the Securitization Servicing Agreement, if any.

 

“CLO”
shall have the meaning assigned to such term in the definition of “Qualified Transferee.”

 

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

 

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

 

    4

     

    

 

 

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

 

“Condemnation
Proceeds” shall have the meaning assigned to such term or any one or more analogous terms in the Servicing Agreement.

 

“Conduit”
shall have the meaning assigned to such term in Section 19(g).

 

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 19(g).

 

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 19(g).

 

“Control”
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of an entity, whether through the ability to exercise voting power, by contract or otherwise, and the terms “Controlling”
and “Controlled” have meanings correlative to the foregoing.

 

“Control Appraisal
Period” means:

 

(a)          
with respect to Note B-1, a Note B-1 Control Appraisal Period; and

 

(b)          
with respect to Note B-2, a Note B-2 Control Appraisal Period.

 

“Controlling
Noteholder” shall mean as of the date of this Agreement, the Note B-2 Holder, and thereafter, as of any date of determination:

 

(a) if a Note B-2 Control
Appraisal Period has occurred and is continuing, but a Note B-1 Control Appraisal Period has not occurred and is continuing, the
Note B-1 Holder; and

 

(b) if a Note B-1 Control
Appraisal Period has occurred and is continuing, the Note A Holder;

 

provided that,
(i) if the Note B-2 Holder would be the Controlling Noteholder pursuant to the terms hereof, but any interest in the Note of the
Note B-2 Holder is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, or the Mortgage Loan Borrower
or Mortgage Loan Borrower Related Party would otherwise be entitled to exercise the rights of the Controlling Noteholder, a Note
B-2 Control Appraisal Period shall be deemed to have occurred with respect to the Note B-2 Holder and (ii) if the Note B-1 Holder
would be the Controlling Noteholder pursuant to the terms hereof, but any interest in the Note of the Note B-1 Holder is held by
the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, or the Mortgage Loan Borrower or Mortgage Loan Borrower Related
Party would otherwise be entitled to exercise the rights of the Controlling Noteholder, a Note B-1 Control Appraisal Period shall
be deemed to have occurred with respect to the Note B-1 Holder.

 

“Controlling
Noteholder Representative” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 6(a).

 

    5

     

    

 

“Corrected Mortgage
Loan” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA or such other
analogous term used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning assigned to such term
in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

“Credit Risk
Retention Rule” shall mean Section 15G of the Exchange Act as added by Section 941 of the Dodd-Frank Act and implemented
by Regulation RR (15 U.S.C. §78o-11).

 

“Cure Period”
shall have the meaning assigned to such term in Section 11(a).

 

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

 

“Default Interest”
shall mean interest on the Mortgage Loan at a rate per annum equal to the Note Default Interest Spread.

 

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

 

“Defaulted Mortgage
Loan Purchase Price” shall mean, with respect to the exercise of the right to purchase any of Note A and/or Note B-1
pursuant to Section 12, the sum, without duplication, of the following amounts with respect to each such purchased Note: (a) the
Note Principal Balance of the purchased Note, (b) accrued and unpaid interest on the purchased Note at the applicable Note
Rate, from the date as to which interest was last paid in full on the purchased Note by Mortgage Loan Borrower up to and including
the end of the interest accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c)
any other amounts due under the purchased Note, other than Prepayment Premiums, default interest, late fees, exit fees and any
other similar fees due with respect to the purchased Note, provided that if the Mortgage Loan Borrower or a Mortgage Loan
Borrower Related Party is the purchaser, the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default
interest, late fees, exit fees and any other similar fees due with respect to the purchased Note, (d)  any unreimbursed property
protection or servicing Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation,
servicing Advances payable or reimbursable to any Servicer, and earned and unpaid special servicing fees), (e) any accrued and
unpaid Advance Interest Amount, (f) (i) if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser
or (ii) if a Note is purchased after ninety (90) days after such option first becomes exercisable pursuant to Section 12 of this
Agreement, any liquidation or workout fees payable under the Securitization Servicing Agreement and (g)  any Recovered Costs
not reimbursed previously to the Servicer from collections in respect of the Mortgage Loan. If the Mortgage Loan is converted into
a REO Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to
accrue on each purchased Note, at the applicable Note Rate on the applicable Note Principal Balances, as if the Mortgage Loan were
not so converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the Noteholder
exercising the purchase right under this Agreement.

 

    6

     

    

 

“Defaulted Note
Purchase Date” shall have the meaning assigned to such term in Section 12.

 

“Depositor”
shall mean the Person selected by the Note A Holder to create the Securitization Trust.

 

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

 

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

 

“Event of Default”
shall have the meaning assigned to such term in the Loan Agreement.

 

“Excluded Information”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA or such other analogous term
used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning assigned to such term or such other
analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    7

     

    

 

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

 

“Insurance Proceeds”
shall have the meaning assigned to such term or any one or more analogous terms in the Servicing Agreement.

 

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

 

“Interim Servicing
Agreement” shall mean at such time that the Mortgage Loan is not serviced pursuant to the Servicing Agreement, dated
as of March 18, 2016, between Natixis, as owner, and Wells Fargo Bank, National Association, as servicer; provided that,
in the event that a Securitization of Note A has not occurred within sixty (60) days after the date hereof, then the Noteholders
will negotiate in good faith and enter into a standalone servicing agreement reasonably acceptable to the Noteholders. The Note
A Holder shall not, without the consent of the other Noteholders, consent to any amendment or modification to such Interim Servicing
Agreement to the extent such amendment or modification would materially and adversely affect the Mortgage Loan or the other Noteholders’
rights with respect thereto (as reasonably determined by such Noteholders).

 

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

 

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

 

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

 

“Liquidation
Proceeds” (i) prior to the Securitization Date, shall mean the amount (other than insurance proceeds, condemnation awards
or amounts required to be paid to the Mortgage Loan Borrower or other Persons pursuant to the Mortgage Loan Documents or applicable
law) received in connection with (y) the liquidation of a Specially Serviced Mortgage Loan through a trustee’s sale, foreclosure
sale or otherwise or (z) a sale of the Mortgage Loan or an REO Property in accordance with this Agreement and (ii) from and after
the Securitization Date, shall have the meaning assigned to such term in the Servicing Agreement or any one or more analogous terms
in the Servicing Agreement.

 

“Loan Agreement”
shall mean that certain Loan Agreement, dated as of April 12, 2018, between Natixis, as lender, and MIR Queens Place Associates,
LLC, as borrower, as the same may be further amended, restated, renewed, extended, modified or supplemented from time to time,
subject to the terms hereof.

 

    8

     

    

 

“Major Decision”
shall mean:

 

(i) prior to the Securitization
Date:

 

(a)  any proposed or actual foreclosure upon or comparable conversion (which shall include acquisitions of any REO Property)
of the ownership of the Mortgaged Property;

 

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

 

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

 

(d) 
any sale of a Defaulted Loan or REO Property for less than the applicable Purchase Price;

 

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

 

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

 

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

 

(h)  
any amendment, modification or termination of any Management Agreement (as defined in the Loan Agreement) and any property
management company changes, including, without limitation, approval of the termination of the existing property manager and appointment
of a new property manager, or franchise changes with respect to a Mortgage Loan, in each case for which the lender is required
to consent or approve such changes under the Mortgage Loan Documents;

 

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

 

(j)  any acceptance of an assumption agreement or any other agreement permitting a transfer of interests in the Mortgage Loan
Borrower, Guarantor or other guarantor,

 

    9

     

    

 

indemnitor
or obligor releasing the Mortgage Loan Borrower, Guarantor or other guarantor, indemnitor or obligor from liability under the
Mortgage Loan other than pursuant to the specific terms of the Mortgage Loan and for which there is no lender discretion;

 

(k)  
any determination of an Acceptable Insurance Default;

 

(l)   any proposed modification or waiver of the types, nature or amount of insurance coverage required to be obtained by the
Mortgage Borrower;

 

(m) the execution,
termination, modification, waiver or amendment of any ground lease or any “Material Lease” (as defined in the Loan
Agreement) or the granting of a subordination and non-disturbance or attornment agreement in connection with any ground lease or
Material Lease, in each case to the extent Lender approval is required under the Mortgage Loan Documents;

 

(n)  
 any filing of a bankruptcy or similar action against the Mortgage Loan Borrower or Guarantor or the election of any action
in a bankruptcy or Insolvency Proceeding to seek relief from the automatic stay or dismissal of a bankruptcy filing or voting for
or opposing a plan of reorganization, seeking or opposing an order for adequate protection, adequate assurance, a Section 363 sale,
order shortening time or similar motion of procedure in an Insolvency Proceeding or making an Section 1111(b)(2) election on behalf
of the Noteholders;

 

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

 

(p)  
approval of the “Annual Budget” (as defined in the Loan Agreement) to the extent the Lender’s consent
is required under the Loan Agreement;

 

(q)  
approval of (1) any replacement or substitution of a “Key Principal” (as defined in the Loan Agreement), and
(2) any “Successor Guarantor” (as defined in the Loan Agreement);

 

(r)   the voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Mortgage Loan Borrower;

 

(s)  approval of any replacement Special Servicer, other than under Section 7; or

 

(t)   any incurrence of additional debt by the Mortgage Loan Borrower or any mezzanine financing by any beneficial owner of the
Mortgage Loan Borrower (to the extent that the lender has consent rights pursuant to the Mortgage Loan Documents (for purposes
of the determination whether a lender has such consent rights pursuant to the Mortgage Loan Documents, any Mortgage Loan Document
provision that requires that an

 

    10

     

    

 

intercreditor
agreement be reasonably or otherwise acceptable to the lender shall constitute such consent rights)); and

 

(ii) from and after
the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

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

 

“Model PSA”
shall mean the Pooling and Servicing Agreement for the CSAIL 2018-CX11 transaction, among Credit Suisse Commercial Mortgage Securities
Corp., as depositor, LNR Partners, LLC, as general special servicer, Wells Fargo Bank, National Association, as certificate administrator
and as trustee, and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer.

 

“Monetary Default”
shall have the meaning assigned to such term in Section 11(a).

 

“Monetary Default
Notice” shall have the meaning assigned to such term in Section 11(a).

 

“Monthly Debt
Service Payment Amount” shall have the meaning assigned to such term or an analogous term in the Loan Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Borrower Related Party” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model
PSA or such other analogous term used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning
assigned to such term in the Servicing Agreement.

 

    11

     

    

 

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

 

“Mortgage Loan
Rate” shall mean, as of any date of determination, the weighted average of the Note A Rate, the Note B-1 Rate and the
Note B-2 Rate.

 

“Mortgage Loan
Schedule” shall mean the Schedule 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 to such term in the recitals.

 

“Natixis”
shall mean Natixis Real Estate Capital LLC, and its successors in interest.

 

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

 

“Net Note B-1
Rate” shall mean the Note B-1 Rate minus the Servicing Fee Rate.

 

“Net Note B-2
Rate” shall mean the Note B-2 Rate minus the Servicing Fee Rate.

 

“New Notes”
shall have the meaning assigned to such term in Section 40.

 

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

 

“Non-Monetary
Default” shall have the meaning assigned to such term in Section 11(d).

 

“Non-Monetary
Default Cure Period” shall have the meaning assigned to such term in Section 11(d).

 

“Non-Monetary
Default Notice” shall have the meaning assigned to such term in Section 11(d).

 

“Note”
shall mean any of Note A, Note B-1 and Note B-2, as applicable.

 

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

 

“Note A Default
Rate” shall mean a rate per annum equal to the Note A Rate plus the Note Default Interest Spread.

 

    12

     

    

 

“Note A Holder”
shall mean the Initial Note A Holder, or any subsequent holder of Note A, together with its successors and assigns.

 

“Note A Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A Principal Balance and
the denominator of which is the sum of the Note A Principal Balance, the Note B-1 Principal Balance and the Note B-2 Principal
Balance.

 

“Note A Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial Note A Principal Balance
set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A Holder or reductions in
such amount pursuant to Section 3, 4 or 5, as applicable.

 

“Note A Rate”
shall mean the Note A Rate set forth on the Mortgage Loan Schedule.

 

“Note A Relative
Spread” shall mean the ratio of the Note A Rate to the Mortgage Loan Rate.

 

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

 

“Note B-1 Control
Appraisal Period” means any period, with respect to the Mortgage Loan, if and for so long as:

 

(a)          
(1) the initial Note B-1 Principal Balance minus (2) the sum (without duplication) of (x) any payments of principal
(whether as principal prepayments or otherwise) allocated to, and received on, Note B-1 after the date of creation of Note B-1,
(y) any Appraisal Reduction Amount for the Mortgage Loan that is allocated to Note B-1 and (z) any losses realized with respect
to any Mortgaged Property or the Mortgage Loan that are allocated to Note B-1, plus (3) the Threshold Event Collateral then
held by the Servicer, is less than

 

(b)          
twenty-five percent (25%) of the remainder of the (i) initial Note B-1 Principal Balance less (ii) any payments of principal
(whether as principal prepayments or otherwise) allocated to, and received by, the Note B-1 Holder on Note B-1 after the date of
creation of Note B-1.

 

“Note B-1 Default
Rate” shall mean a rate per annum equal to the Note B-1 Rate plus the Note Default Interest Spread.

 

“Note B-1 Holder”
shall mean the Initial Note B-1 Holder, and its successors in interest, or any subsequent holder of Note B-1.

 

“Note B-1 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-1 Principal Balance
and the denominator of which is the sum of Note A Principal Balance, the Note B-1 Principal Balance and the Note B-2 Principal
Balance.

 

 

    13

     

    

 

“Note B-1 Principal
Balance” shall mean, at any time of determination, the initial Note B-1 Principal Balance set forth on the Mortgage Loan
Schedule, less any payments of principal thereon or reductions in such amount pursuant to Section 3, 4 or 5, as applicable.

 

“Note B-1 Rate”
shall mean the Note B-1 Rate set forth on the Mortgage Loan Schedule.

 

“Note B-1 Relative
Spread” shall mean the ratio of the Note B-1 Rate to the Mortgage Loan Rate.

 

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

 

“Note B-2 Control
Appraisal Period” means any period, with respect to the Mortgage Loan, if and for so long as:

 

(a)          
(1) the initial Note B-2 Principal Balance minus (2) the sum (without duplication) of (x) any payments of principal
(whether as principal prepayments or otherwise) allocated to, and received on, Note B-2 after the date of creation of Note B-2,
(y) any Appraisal Reduction Amount for the Mortgage Loan that is allocated to Note B-2 and (z) any losses realized with respect
to any Mortgaged Property or the Mortgage Loan that are allocated to Note B-2, plus (3) the Threshold Event Collateral then
held by the Servicer, is less than

 

(b)          
twenty-five percent (25%) of the remainder of the (i) initial Note B-2 Principal Balance less (ii) any payments of principal
(whether as principal prepayments or otherwise) allocated to, and received by, the Note B-2 Holder on Note B-2 after the date of
creation of Note B-2.

 

“Note B-2 Default
Rate” shall mean a rate per annum equal to the Note B-2 Rate plus the Note Default Interest Spread.

 

“Note B-2 Holder”
shall mean the Initial Note B-2 Holder, or any subsequent holder of Note A, together with its successors and assigns.

 

“Note B-2 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-2 Principal Balance
and the denominator of which is the sum of the Note A Principal Balance, the Note B-1 Principal Balance and the Note B-2 Principal
Balance.

 

“Note B-2 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial Note B-2 Principal
Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to
Section 3, 4 or 5, as applicable.

 

“Note B-2 Rate”
shall mean the Note B-2 Rate set forth on the Mortgage Loan Schedule.

 

    14

     

    

 

“Note B-2 Relative
Spread” shall mean the ratio of the Note B-2 Rate to the Mortgage Loan Rate.

 

“Note Default
Interest Spread” shall mean a rate per annum equal to five percent (5%); provided, however, that if the
weighted average of the Note A Default Rate, the Note B-1 Default Rate and the Note B-2 Default Rate would exceed the maximum rate
permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the
Note A Default Rate, the Note B-1 Default Rate and the Note B-2 Default Rate equals the maximum rate permitted by applicable law
minus (ii) the Interest Rate.

 

“Note Pledgee”
shall have the meaning assigned to such term in Section 19(h).

 

“Note Rate”
shall mean any of the Note A Rate, the Note B-1 Rate and the Note B-2 Rate, as applicable.

 

“Note Register”
shall have the meaning assigned to such term in Section 21.

 

“Noteholder”
shall mean any of the Note A Holder, the Note B-1 Holder and the Note B-2 Holder, as applicable.

 

“Noteholder
Purchase Notice” has the meaning assigned to such term in Section 12.

 

“Original Entity”
shall have the meaning assigned to such term in Section 41.

 

“Owned Note”
shall have the meaning assigned to such term in Section 41.

 

“P&I Advance”
shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

“Percentage
Interest” shall mean, (i) with respect to the Note A Holder, the Note A Percentage Interest, (ii) with respect to the
Note B-1 Holder, the Note B-1 Percentage Interest and (iii) with respect to the Note B-2 Holder, the Note B-2 Percentage Interest,
as each may be adjusted from time to time.

 

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached
hereto and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests
relating to commercial real estate, (ii) investing through a fund with committed capital of at least $100,000,000 and (iii) not
subject to a proceeding 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.

 

“Pledge”
shall have the meaning assigned to such term in Section 19(h).

 

    15

     

    

 

“Prepayment
Premium” shall mean, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance
premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents,
including any exit fee.

 

“Principal Balance”
shall mean any of the Note A Principal Balance, the Note B-1 Principal Balance and the Note B-2 Principal Balance, as applicable.

 

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

 

“Qualified Transferee”
shall mean each of:

 

(a) the Initial Noteholders;

 

(b) any
other Person that is an entity Controlled (as defined below) by, under common Control with or Controlling of any of the Initial
Noteholders; or

 

(c) one
or more of the following:

 

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

 

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

 

(iii)     a Qualified Trustee (or in the case of a CLO, a single purpose bankruptcy remote entity that contemporaneously assigns or
pledges the Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a
securitization of, (b) the creation of collateralized debt obligations (“CLO”) secured by, or (c) a
financing through an “owner trust” of, a Note or any interest therein (any of the foregoing, a “Securitization
Vehicle”), provided that (1) one or more classes of securities issued by such Securitization Vehicle is initially
rated at least investment grade by two nationally recognized credit rating agencies; (2) the special servicer of such Securitization
Vehicle has a Required Special Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such
entity, an “Approved Servicer”) and such Approved Servicer is required to service and administer such Note or
any interest therein in accordance with servicing arrangements for the assets held by the Securitization Vehicle which require
that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction or instruction from
any other Person; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable,
each Intervening Trust

 

    16

     

    

 

Vehicle that is not administered and managed by a CLO Asset Manager that is a Qualified Transferee, are
each a Qualified Transferee under clauses (i), (ii), (iv) or (v) of this definition, or

 

(iv)     an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $100,000,000, in which (A) any Initial Noteholder, (B) a person that is otherwise a Qualified Transferee under clause
(i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or (ii) above)
or clause (c) below (with respect to an entity Controlled by an entity referred to in clause (i),(ii) or (v) (with respect to
an institution substantially similar to the entities referred to in clause (i) or (ii) above)), or (C) a Permitted Fund Manager,
acts as a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such
investment vehicle, or

 

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

 

(vi)     any
Person that is otherwise a Qualified Transferee but is acting in an agency capacity in connection with a lending syndicate, so
long as more than fifty percent (50%) of the lenders in the lending syndicate (by loan balance or committed loan amounts) are
Qualified Transferees; or

 

(vii)    a private trust established and authorized under the laws of Korea (an “Acquiring Korean Trust”), so
long as the beneficiaries of, and owners of not less than 51% of the equity interest in, the Acquiring Korean Trust are, directly
or indirectly, Persons that are otherwise Qualified Transferees and satisfy the capital surplus/equity and total asset requirements
set forth below, and

 

in the case of any entity referred to in
clause (c)(i), (ii), (iv)(B) or (v) of this definition, (x) such entity or parent has at least $100,000,000 in capital/statutory
surplus or shareholders’ equity including uncalled capital commitments (except with respect to a pension advisory firm, asset
manager or similar fiduciary) and at least $250,000,000 in total assets including uncalled capital commitments (in name or under
management), and (y) is regularly engaged in the business of making or owning commercial real estate loans (or interests therein)
similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning or operating commercial real estate properties;
provided that, in the case of the entity described in clause (iv)(B) above, the requirements of this clause (y) may
be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day management and operation
of such entity; or

 

(d) any entity Controlled by, under common Control with or Controlling, any of the entities described in clause (c) above
or approved by the Rating Agencies hereunder as a Qualified Transferee for purposes of this Agreement, or as to which the Rating
Agencies have stated they would not review such entity in connection with the subject transfer; and

 

For purposes of this
definition only, “Control” means the ownership, directly or indirectly, in the aggregate of more than fifty
percent (50%) of the beneficial ownership interests

 

    17

     

    

 

of
an entity and the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of an entity, whether through the ability to exercise voting power, by contract or otherwise (“Controlled” has the
meaning correlative thereto). For purposes of this definition, if more than one Qualified Transferee owns, (directly or indirectly)
in the aggregate more than fifty percent (50%) of the beneficial ownership interests of an entity and one or more of the Qualified
Transferees possess the power to direct or cause the direction of the management or policies of the entity, whether through the
ability to exercise voting power, by contract or otherwise, even though each such Qualified Transferee individually owns less
than fifty percent (50%) of such beneficial interests, such entity shall be deemed to be “Controlled by” a Qualified
Transferee.

 

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

 

“Rating Agencies”
shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS, (e) Kroll and (f) Morningstar 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 designated by the Note A Holder; provided, however, that at any time during which Note A or Note B-1
is an asset of a Securitization, “Rating Agencies” or “Rating Agency” shall have the meaning assigned to
such term in the Servicing Agreement.

 

“Rating Agency
Confirmation” shall mean (i) prior to a Securitization with respect to any matter, confirmation in writing (which may
be in electronic form) by each applicable Rating Agency that a proposed action, failure to act or other event so specified will
not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any class of
certificates (if then rated by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating
Agency indicating its decision not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy
the requirement for the Rating Agency Confirmation from each Rating Agency with respect to such matter and (ii) after a Securitization,
the meaning given thereto or any analogous term in the Securitization Servicing Agreement including any deemed Rating Agency Confirmation
and, after a Securitization of Note B-1, also a Rating Agency Conformation as defined in the document governing the related Securitization
Trust.

 

“Recovered Costs”
shall mean any amounts referred to in clauses (d) and/or (e) of the definition of “Defaulted Mortgage Loan Purchase Price”
that, at the time of determination, had been previously paid or reimbursed to any Servicer from sources other than collections
on or in respect of the Mortgage Loan or the Mortgaged Property (including, without limitation, from collections on or in respect
of loans other than the Mortgage Loan).

 

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“Redirection
Notice” shall have the meaning assigned to such term in Section 19(h).

 

“Relative Spread”
shall mean the Note A Relative Spread, the Note B-1 Relative Spread or the Note B-2 Relative Spread, as the context may require.

 

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

 

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

 

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

 

“REO Property”
shall mean any Mortgaged Property, title to which has been acquired by the Servicer on behalf of the Noteholders through foreclosure,
deed in lieu of foreclosure or otherwise.

 

“Required Special
Servicer Rating” shall mean (i) a rating of “CSS3” in the case of Fitch, (ii) being on S&P’s Select
Servicer List as a U.S. Commercial Mortgage Special Servicer in the case of S&P, (iii) in the case of Moody’s such special
servicer is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated
by Moody’s within the twelve (12) month period prior to the date of determination, and Moody’s has not downgraded or
withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities
on watch publicly citing the continuation of such special servicer as special servicer of such commercial mortgage loans as the
sole or material factor in such ratings action and (iv) in the case of Morningstar, either (a) the applicable replacement has a
special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by Morningstar,
is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of the related
mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA and the trustee
does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar has not, with
respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more classes of
such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such rating action.

 

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

 

“Securitization”
shall mean one or more sales by the Note A Holder or Note B-1 Holder of Note A or Note B-1 to a Depositor, who will in turn include
such Notes as part of a securitization of one or more mortgage loans.

 

    19

     

    

 

“Securitization
Date” shall mean the effective date on which a Securitization of Note A is consummated.

 

“Securitization
Operating Advisor” shall mean the operating advisor under the Securitization Servicing Agreement, if any.

 

“Securitization
Servicing Agreement” shall mean a pooling and servicing agreement, substantially in the form of the Model PSA (and where
such pooling and servicing agreement is not substantially the same as the Model PSA, and the changes would materially and adversely
affect the Mortgage Loan or the Note B-1 Holder’s or the Note B-2 Holder’s rights with respect thereto (as reasonably
determined by the Note B-1 Holder or the Note B-2 Holder), the changes are reasonably acceptable to the Note B-1 Holder and the
Note B-2 Holder), to be entered into in connection with the Securitization, by and among (a) the Trustee, (b) the Person
who serves as master servicer from and after the Securitization Date, (c) the Person which serves as special servicer from
and after the Securitization Date, (d) the Person who services as operating advisor from and after the Securitization Date and
(e) the Depositor, and any other additional Persons that may be party to such pooling and servicing agreement; provided it
is acknowledged that such agreement is subject in all respects to changes (i) required by the Code relating to the tax elections
of the related Securitization Trust, (ii) required by law or changes in any law, rule or regulation and (iii) requested by
the Rating Agencies or any purchaser of subordinate certificates. The Servicing Standard in the Securitization Servicing Agreement
shall require, among other things, that each Servicer, in servicing the Mortgage Loan, must take into account the interests of
each Noteholder (taking into account that Note B-2 is junior to Note B-1).

 

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

 

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

 

“Sequential
Pay Event” shall mean any Event of Default with respect to an obligation to pay money due under the Mortgage Loan or
any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan (other than as a result
of a foreseeable event), or any bankruptcy or insolvency event that constitutes an Event of Default. A Sequential Pay Event shall
no longer exist to the extent it has been cured (including any cure payment made by the Controlling Noteholder in accordance with
Section 11) and shall not be deemed to exist to the extent a Noteholder is exercising its cure rights under Section 11.

 

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

 

“Servicer Termination
Event” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA or such other
analogous term used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning assigned to such term
in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

    20

     

    

 

“Servicing Agreement”
shall mean, with respect to the Mortgage Loan, prior to the Securitization Date, the Interim Servicing Agreement, and, from and
after the Securitization Date, the Securitization Servicing Agreement.

 

“Servicing Fee
Rate” shall have the meaning assigned to such term in the Servicing Agreement; provided that the Servicing Fee Rate attributable
to Note B-2 shall not exceed one basis point (0.01%) per annum.

 

“Servicing Standard”
(i) prior to the Securitization Date, shall refer to the procedures that the Master Servicer, as an independent contractor, follows
in order to service and administer the Mortgage Loan and administer REO Property solely on behalf of the Noteholders (as a collective
whole as if such Noteholders constituted one lender, it being understood that Note B-2 is subordinate to Note B-1 and Note B-1
is subordinate to Note A, subject to the terms and conditions of this Agreement) (as determined by the Master Servicer in the exercise
of its good faith and reasonable judgment), in accordance with applicable law, the terms of this Agreement and the Mortgage Loan
Documents and, to the extent consistent with the foregoing, the following standards: (i) the higher of (a) the same manner
in which and with the same care, skill, prudence and diligence with which the Master Servicer services and administers similar
loans and administers foreclosed properties for other third-party portfolios, giving due consideration to customary and usual standards
of practice of prudent institutional commercial mortgage lenders in servicing their own loans and administering their own foreclosed
properties, or (b) with the care, skill, prudence and diligence the Master Servicer uses for loans which it owns or for foreclosed
properties it owns and administers; (ii) with a view to the timely collection of (a) all scheduled payments of principal
and interest under the Mortgage Loan or, if the Mortgage Loan comes into and continues in default and if no satisfactory arrangements
can be made for the collection of the delinquent payments, the maximization of the recovery on the Mortgage Loan to the Noteholders
(as a collective whole as if such Noteholders constitute a single lender, it being understood that Note B-2 is subordinate to Note
B-1 and Note B-1 is subordinate to Note A, subject to the terms of this Agreement) on a net present value basis and (b) any
reimbursable expenses and other amounts due under the Mortgage Loan and (iii) without regard to:

 

(A)          any relationship
that the Master Servicer or its affiliates may have with the   Mortgage Loan Borrower or any of its affiliates;

 

(B)           the ownership
of any other mezzanine loan by the Master Servicer or its   affiliates;

 

(C)           its
obligation to make Advances;

 

		(D)	the right of the Master Servicer or its affiliates to receive reimbursement of costs, compensation
or other fees (other than Advances), or the sufficiency of any compensation payable to it under this Agreement or with respect
to any particular transaction; or

 

(E)           the ownership,
servicing or management for others of any other loans or  property by the Master Servicer; and

 

 

    21

     

    

 

(ii) from and after the
Securitization Date shall have the meaning assigned to such term in the Servicing Agreement.

 

“Servicing Transfer
Event” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA or such other
analogous term used in the Model PSA and (ii) from and after the Securitization Date, shall have the meaning assigned to such term
in the Servicing Agreement or such other analogous term used in the Servicing Agreement, except that, as provided in Section 11(a)(iii),
a Servicing Transfer Event shall be deemed not to have occurred for so long as a Noteholder is exercising its cure right hereunder.

 

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

 

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

 

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

 

“Threshold Event
Collateral” shall have the meaning assigned to such term in Section 5(i).

 

“Threshold Event
Cure” shall have the meaning assigned to such term in Section 5(i).

 

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement, excluding a repo financing or a Pledge in accordance with Section 19(h)).

 

“Trustee”
shall mean the bank or trust company as may be selected by the Depositor and approved by the Rating Agencies to act as trustee
for the Securitization, and shall include any fiscal agent and/or paying agent appointed for such Securitization.

 

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

 

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

 

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“Workout”
shall mean any written modification, waiver, amendment or restructuring relating to a workout of the Mortgage Loan or the Note
in connection with a Mortgage Loan default or a likely default.

 

Section 2.          
Servicing.

 

(a)          
Each Noteholder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced
prior to the Securitization Date pursuant to the Interim Servicing Agreement and from and after the Securitization Date (except
as otherwise set forth in Section 2(e)), pursuant to the Securitization Servicing Agreement and, in each case, in accordance
with this Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal or
interest in respect of the Notes other than Note A if such principal or interest is not paid by the Mortgage Loan Borrower but
shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of
the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Securitization
Servicing Agreement. Each Noteholder acknowledges that the Note A Holder and the Note B-1 Holder may elect, in its sole discretion,
to include its Note in a Securitization and agrees that it will reasonably cooperate with a securitizing Noteholder, at the securitizing
Noteholder’s expense, to effect such Securitization. Subject
to the terms and conditions of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment
of the Master Servicer, the Special Servicer and the Trustee under the Securitization Servicing Agreement by the Depositor
and agrees to reasonably cooperate with and consent with the Master Servicer and the Special Servicer with respect to the servicing
of the Mortgage Loan in accordance with the Securitization Servicing Agreement and this Agreement. Each Noteholder hereby appoints
the Master Servicer and the Trustee in the Securitization as such Noteholder’s attorney-in-fact to sign any documents reasonably
required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Securitization Servicing
Agreement (subject at all times to the rights of such Noteholder set forth herein and in the Servicing Agreement). In no event
shall the Servicing Agreement require the Servicer to enforce the rights of any Noteholder against any other Noteholder or limit
the Servicer in enforcing the rights of one Noteholder against the other Noteholder; however, this statement shall not be construed
to otherwise limit the rights of one Noteholder with respect to any other Noteholder.

 

(b)          
The Controlling Noteholder (or any Controlling Noteholder Representative appointed by it acting on its behalf) shall exercise
the rights and powers granted to the “Controlling Holder”, “Directing Certificateholder” or “Directing
Holder” (or similar term) under the Servicing Agreement with respect to the Mortgage Loan.

 

(c)          
The Securitization Servicing Agreement shall contain the Servicing Standard (which shall require, among other things, that
each Servicer, in servicing the Mortgage Loan, must take into account the interests of each Noteholder, taking into account that
(1) Note B-2 is junior to Note B-1 and (2) Note B-1 is junior to Note A). In no event may the Securitization Servicing Agreement change
the interest or principal allocable to, or the amount of any payments due to, the Note B-1 Holder or the Note B-2 Holder or materially
increase the Note B-1 Holder’s or the Note B-2 Holder’s obligations or materially decrease the Note B-1 Holder’s
or the Note B-2 Holder’s rights, remedies or protections hereunder.

 

    23

     

    

 

(d)       The
Securitization Servicing Agreement shall contain provisions to the effect that:

 

(i)        any
payments received on the Mortgage Loan shall be paid by the Master Servicer to each of the Noteholders in accordance with Sections
3 and 4 hereof on the “master servicer remittance date” under the Securitization Servicing Agreement;

 

(ii)       each
of the Note B-1 Holder and the Note B-2 Holder shall be entitled to receive, and the Master Servicer and the Special Servicer shall
provide, any information relating to the Mortgage Loan, the borrower or the Mortgaged Property as either the Note B-1 Holder or
the Note B-2 Holder may reasonably request and would be customarily in the possession of, or collected or known by, the Master
Servicer or Special Servicer of mortgage loans similar to the Mortgage Loan and, in any event, all information that is required
to be provided to holders of the securities issued by the Securitization Trust that includes other Notes including but not limited
to standard CREFC® reports, provided that if an interest in Note B-1 or Note B-2 or the Note B-1 Holder or the Note
B-2 Holder is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, then such Noteholder shall not be entitled
to receive any Excluded Information;

 

(iii)      each
Noteholder is an intended third party beneficiary in respect of the rights afforded it under the Securitization Servicing Agreement
and may directly enforce such rights; and

 

(iv)      the
Securitization Servicing Agreement may not be amended without the consent of the Note B-1 Holder or the Note B-2 Holder if such
amendment would materially and adversely affect the Mortgage Loan or the rights of the Note B-1 Holder or the Note B-2 Holder,
as applicable, with respect thereto (as determined by the Note B-1 Holder or Note B-2 Holder, as applicable).

 

(e)        Any
obligation of the Servicer pursuant to the terms hereof shall be performed by the Master Servicer or the Special Servicer, as applicable,
as set forth in the Servicing Agreement.

 

(f)        At
any time after the Securitization Date that none of Note A and Note B-1 is no longer subject to the provisions of the Securitization
Servicing Agreement, the Note A Holder shall cause the Mortgage Loan to be serviced pursuant to a servicing agreement mutually
agreeable to the Note A Holder, the Note B-1 Holder and the Note B-2 Holder that contains servicing provisions which are the same
as or more favorable to Note B-1 Holder and Note B-2 Holder, as applicable, in substance, to those in the Securitization Servicing
Agreement and all references herein to the “Securitization Servicing Agreement” shall mean such subsequent servicing
agreement; provided, however, that until a replacement servicing agreement has been entered into, the Note A Holder
shall cause the Mortgage Loan to be serviced in accordance with the servicing provisions set forth in the Securitization 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 nationally recognized commercial mortgage loan servicer appointed by the Note A Holder with the consent of the Note B-1
Holder and the Note B-2

 

    24

     

    

 

Holder and does not have to be performed by the service providers set forth under the Securitization Servicing
Agreement.

 

Section 3.     Payments
Prior to a Sequential Pay Event. Note B-2 and the right of the Note B-2 Holder to receive payments of interest, principal and
other amounts with respect to the Note B-2 shall at all times be junior, subject and subordinate to Note B-1 and the right of the
Note B-1 Holder to receive payments of interest, principal and other amounts with respect to Note B-1 as set forth herein and the
rights of the Note B-1 Holder to receive payments of interest, principal and other amounts with respect to Note B-1, shall at all
times be junior, subject and subordinate to Note A and the right of the Note A Holder to receive payments of interest, principal
and other amounts with respect to such Note A, in each case, as further described below. If no Sequential Pay Event, as determined
by the applicable Servicer, shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise
available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized
as proceeds thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under
any guaranty, letter of credit or other collateral or instrument securing the Mortgage Loan or Insurance Proceeds or Condemnation
Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released
to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC
Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent,
in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on
account of recoveries in respect of Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement
and (y) all amounts that are then due, payable or reimbursable to any Servicer, Securitization Operating Advisor, Certificate Administrator
or Trustee with respect to the Mortgage Loan pursuant to the Servicing Agreement, shall be applied by the Note A Holder (or its
designee) and distributed by the Note A Holder (or the Servicer on its behalf) for payment in the following order of priority without
duplication (and payments shall be made at such times as are set forth in the Servicing Agreement):

 

(a)       first,
to the Note A Holder in an amount equal to the accrued and unpaid interest on the Note A Principal Balance at the Net Note A Rate;

 

(b)       second,
to the Note A Holder in an amount equal to the Note A Percentage Interest of principal payments (including all prepayment proceeds
relating to casualty or condemnation) received, if any, with respect to such Monthly Payment Date with respect to the Mortgage
Loan (including any Monthly Debt Service Payment Amount);

 

(c)       third,
to the Note A Holder up to the amount of any unreimbursed costs and expenses paid by the Note A Holder and not previously reimbursed
to the Note A Holder pursuant to this Agreement or the Servicing Agreement;

 

(d)       fourth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(c) and, as a result of a Workout the Note A Principal Balance has been
reduced, such excess amount shall be paid first, to the Note A Holder in an amount up to

 

    25

     

    

 

the reduction, if any, of the Note A Principal
Balance as a result of such Workout, plus interest on such amount at the Note A Rate;

 

(e)       fifth,
to the Note B-1 Holder in an amount equal to the accrued and unpaid interest on the Note B-1 Principal Balance at the Net Note
B-1 Rate;

 

(f)        sixth,
to the Note B-1 Holder in an amount equal to the Note B-1 Percentage Interest of principal payments (including all prepayment proceeds
relating to casualty or condemnation) received, if any, with respect to such Monthly Payment Date with respect to the Mortgage
Loan (including any Monthly Debt Service Payment Amount);

 

(g)       seventh,
to the extent the Note B-1 Holder has made any payments or advances to cure defaults pursuant to Section 11, to reimburse the Note
B-1 Holder for all such cure payments;

 

(h)       eighth,
to the Note B-1 Holder up to the amount of any unreimbursed costs and expenses paid by the Note B-1 Holder and not previously reimbursed
to the Note B-1 Holder pursuant to this Agreement or the Servicing Agreement;

 

(i)        ninth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(h) and, as a result of a Workout the Note B-1 Principal Balance has
been reduced, such excess amount shall be paid first, to the Note B-1 Holder in an amount up to the reduction, if any, of the Note
B-1 Principal Balance as a result of such Workout, plus interest on such amount at the Note B-1 Rate;

 

(j)        tenth,
to the Note B-2 Holder in an amount equal to the accrued and unpaid interest on the Note B-2 Principal Balance at the Net Note
B-2 Rate;

 

(k)       eleventh,
to the Note B-2 Holder in an amount equal to the Note B-2 Percentage Interest of principal payments (including all prepayment proceeds
relating to casualty or condemnation) received, if any, with respect to such Monthly Payment Date with respect to the Mortgage
Loan (including any Monthly Debt Service Payment Amount);

 

(l)        twelfth,
to the extent the Note B-2 Holder has made any payments or advances to cure defaults pursuant to Section 11, to reimburse the Note
B-2 Holder for all such cure payments;

 

(m)      thirteenth,
to the Note B-2 Holder up to the amount of any unreimbursed costs and expenses paid by the Note B-2 Holder and not previously reimbursed
to the Note B-2 Holder pursuant to this Agreement or the Servicing Agreement;

 

(n)       fourteenth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(m) and, as a result of a Workout the Note B-2 Principal Balance has
been reduced, such excess amount shall be paid first, to the Note B-2 Holder in an amount up to the reduction, if any, of the Note
B-2 Principal Balance as a result of such Workout, plus interest on such amount at the Note B-2 Rate;

 

    26

     

    

 

(o)       fifteenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note A Holder in an amount up to
its pro rata interest therein, based on the product of the Note A Percentage Interests multiplied by its Relative Spread;

 

(p)       sixteenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note B-1 Holder in an amount up
to its pro rata interest therein, based on the product of the Note B-1 Percentage Interests multiplied by its Relative Spread;

 

(q)       seventeenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note B-2 Holder in an amount up
to its pro rata interest therein, based on the product of the Note B-2 Percentage Interests multiplied by its Relative Spread;

 

(r)        eighteenth,
to the extent default interest, late fees, assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required
to be otherwise applied under the Servicing Agreement, including, without limitation, to compensate a Servicer under the Servicing
Agreement, any such default interest, late fees, assumption or transfer fees, to the extent actually paid by the Mortgage Loan
Borrower, shall be paid to the Noteholders, pro rata, based on their respective Percentage Interests; and

 

(s)        nineteenth,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (a)-(r), any remaining amount shall be paid pro rata to each Noteholder in accordance with their respective
initial Percentage Interests.

 

Section 4.     Payments
Following a Sequential Pay Event. Payments of interest and principal shall be made to the Noteholders in accordance with Section
3 of this Agreement; except, if a Sequential Pay Event, as determined by the applicable Servicer in accordance with this Agreement
and the Servicing Agreement, shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise
available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized
as proceeds thereof, whether received in the form of Monthly Payments, any proceeds from the sale or distribution of any REO Property,
the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing
the Mortgage Loan or Insurance Proceeds or Condemnation Proceeds (other than proceeds, awards or settlements to be applied to the
restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage
Loan Documents, to the extent permitted by the REMIC Provisions), but excluding (x) all amounts for required reserves or escrows
required by the Mortgage Loan Documents to continue to be held as reserves or escrows or received as reimbursements on account
of recoveries in respect of Advances then due and payable or reimbursable to the Servicer under Servicing Agreement and (y) all
amounts that are then due, payable or reimbursable to any Servicer, Securitization Operating Advisor, Certificate Administrator
or Trustee with respect to this Mortgage Loan pursuant to the Servicing Agreement with respect to the Mortgage Loan, shall be distributed
by the Servicer in the

 

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following order of priority without duplication (and payments shall be made at such times as are set forth
in the Servicing Agreement):

 

(a)       first,
to the Note A Holder in an amount equal to the accrued and unpaid interest on the Note A Principal Balance at the Net Note A Rate;

 

(b)       second,
to the Note A Holder in an amount equal to all principal payments (or other amounts allocated to principal) received, if any with
respect to the related Monthly Payment Date, until the Note A Principal Balance has been reduced to zero;

 

(c)       third,
to the Note A Holder up to the amount of any unreimbursed costs and expenses paid by the Note A Holder and not previously reimbursed
to the Note A Holder pursuant to this Agreement or the Servicing Agreement;

 

(d)       fourth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(c) and, as a result of a Workout the Note A Principal Balance has been
reduced, such excess amount shall be paid first, to the Note A Holder in an amount up to the reduction, if any, of the Note A Principal
Balance as a result of such Workout, plus interest on such amount at the Note A Rate;

 

(e)       fifth,
to the Note B-1 Holder in an amount equal to the accrued and unpaid interest on the Note B-1 Principal Balance at the Net Note
B-1 Rate;

 

(f)        sixth,
to the Note A Holder in an amount equal to all remaining amounts received with respect to the related Monthly Payment Date, until
the Note A Principal Balance has been reduced to zero;

 

(g)       seventh,
to the extent the Note B-1 Holder has made any payments or advances to cure defaults pursuant to Section 11, to reimburse the Note
B-1 Holder for all such cure payments;

 

(h)       eighth,
to the Note B-1 Holder in an amount equal to all remaining amounts received with respect to the related Monthly Payment Date, until
the Note B-1 Principal Balance has been reduced to zero;

 

(i)        ninth,
to the Note B-1 Holder up to the amount of any unreimbursed costs and expenses paid by the Note B-1 Holder and not previously reimbursed
to the Note B-1 Holder pursuant to this Agreement or the Servicing Agreement;

 

(j)        tenth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(i) and, as a result of a Workout the Note B-1 Principal Balance has
been reduced, such excess amount shall be paid first, to the Note B-1 Holder in an amount up to the reduction, if any, of the Note
B-1 Principal Balance as a result of such Workout, plus interest on such amount at the Note B-1 Rate;

 

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(k)       eleventh,
to the extent the Note B-2 Holder has made any payments or advances to cure defaults pursuant to Section 11, to reimburse the Note
B-2 Holder for all such cure payments;

 

(l)        twelfth,
to the Note B-2 Holder in an amount equal to the accrued and unpaid interest on the Note B-2 Principal Balance at the Net Note
B-2 Rate;

 

(m)      thirteenth,
to the Note B-2 Holder in an amount equal to all remaining amounts received with respect to the related Monthly Payment Date, until
the Note B-2 Principal Balance has been reduced to zero;

 

(n)       fourteenth,
to the Note B-2 Holder up to the amount of any unreimbursed costs and expenses paid by the Note B-2 Holder and not previously reimbursed
to the Note B-2 Holder pursuant to this Agreement or the Servicing Agreement;

 

(o)       fifteenth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(n) and, as a result of a Workout the Note B-2 Principal Balance has
been reduced, such excess amount shall be paid first, to the Note B-2 Holder in an amount up to the reduction, if any, of the Note
B-2 Principal Balance as a result of such Workout, plus interest on such amount at the Note B-2 Rate;

 

(p)       sixteenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note A Holder in an amount up to
its pro rata interest therein, based on the product of the Note A Percentage Interests multiplied by its Relative Spread;

 

(q)       seventeenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note B-1 Holder in an amount up
to its pro rata interest therein, based on the product of the Note B-1 Percentage Interests multiplied by its Relative Spread;

 

(r)        eighteenth,
any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to the Note B-2 Holder in an amount up
to its pro rata interest therein, based on the product of the Note B-2 Percentage Interests multiplied by its Relative Spread;

 

(s)        nineteenth,
to the extent default interest, late fees, assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required
to be otherwise applied under the Servicing Agreement, including, without limitation, to compensate a Servicer under the Servicing
Agreement, any such default interest, late fees, assumption or transfer fees, to the extent actually paid by the Mortgage Loan
Borrower, shall be paid to the Noteholders, pro rata, based on their respective Percentage Interests; and

 

(t)        twentieth,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (a)-(s), any remaining amount shall be paid pro rata to each Noteholder in accordance with their respective
initial Percentage Interests.

 

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Section 5.     Administration
of the Mortgage Loan.

 

(a)       Subject
to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement, the Note A Holder (or the Servicer
acting on behalf of the Note A Holder) shall have the sole and exclusive authority with respect to the administration of, and exercise
of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive
any of the terms of the Mortgage Loan Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any
other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure
action or other remedy and neither the Note B-1 Holder nor the Note B-2 Holder shall have any voting, consent or other rights whatsoever
with respect to the Note A Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage
Loan. Subject to this Agreement and the Servicing Agreement (including, without limitation, Section 5(f) below), each of the Note
B-1 Holder and the Note B-2 Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys
to the Note A Holder (or the Servicer acting on behalf of the Note A Holder) the rights, if any, that such Noteholder has to, (i)
call or cause the Note A Holder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect
to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing the Note A Holder to file
any bankruptcy petition against the Mortgage Loan Borrower. The Note A Holder (or the Servicer acting on behalf of the Note A Holder)
shall not have any fiduciary duty to any other Noteholder in connection with the administration of the Mortgage Loan (but the foregoing
shall not relieve the Note A Holder from the obligation to make any disbursement of funds as set forth herein).

 

(b)       The
administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees to
be bound by the terms of the Servicing Agreement and this Agreement. Servicing of the Mortgage Loan shall be carried out by the
Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan by the Special Servicer, in each case pursuant
to the Servicing Agreement and this Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the
Servicing Agreement, the Note A Holder shall cause the Master Servicer and the Special Servicer to service and administer the Mortgage
Loan in accordance with the Servicing Standard, taking into account the interests of each of the Noteholders (it being understood
that the interests of the Note B-1 Holder and the Note B-2 Holder are junior Note interests, subject to the terms and conditions
of this Agreement), and so long as neither the Note B-1 Holder nor the Note B-2 Holder is the Mortgage Loan Borrower or a Mortgage
Loan Borrower Related Party, it shall be deemed a third party beneficiary of such provisions of the Servicing Agreement. The foregoing
provisions of this Section 5(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Controlling Noteholder
Representative to exercise their respective rights specifically set forth under this Agreement.

 

(c)       Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and this Agreement
(including, without limitation, Section 5(f) below), if the Note A Holder in connection with a Workout of the Mortgage Loan
modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage Loan is decreased, (ii) the Interest Rate
or scheduled amortization payments on the

 

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Mortgage Loan are reduced, (iii) payments of interest or principal on the Mortgage Loan
are waived, reduced or deferred or (iv) any other adjustment (other than an increase in the Interest Rate or increase in scheduled
amortization payments) is made to any of the terms of the Mortgage Loan (other than an extension of the Mortgage Loan maturity
date), all payments to the Note A Holder pursuant to Section 3 and Section 4, as applicable, shall be made as though such Workout
did not occur, with the payment terms of Note A remaining the same as they are on the date hereof, Note B-2 and then Note B-1 shall
bear the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable to such
Workout (up to the amount otherwise due on Note B-2 or on Note B-1). Subject to the Servicing Agreement and this Agreement (including
without limitation Section 5(f) below), in the case of any modification or amendment described above, the Note A Holder
will have the sole authority and ability to revise the payment provisions set forth in Section 3 and Section 4 above in a manner
that reflects the subordination of Note B-2 to Note B-1 and of Note B-1 and Note B-2 to Note A with respect to the loss that is
the result of such amendment or modification, including: (i) the ability to increase the Note A Percentage Interest and to reduce
the Note B-1 Percentage Interest and the Note B-2 Percentage Interest in a manner that reflects a loss in principal as a result
of such amendment or modification and (ii) the ability to change the Note A Rate, the Note B-1 Rate and the Note B-2 Rate, as applicable,
in order to reflect a reduction in the Interest Rate of the Mortgage Loan but shall not be permitted to change the order of the
clauses set forth in Sections 3 and 4 hereof. Notwithstanding the foregoing, if any Workout, modification or amendment of the Mortgage
Loan extends the original maturity date of the Mortgage Loan, for purposes of this paragraph, the Balloon Payment will be deemed
not to be due on the original maturity date of the Mortgage Loan but will be deemed due on the extended maturity date of the Mortgage
Loan.

 

(d)       All
rights and obligations of the Note A Holder described hereunder may be exercised by the Servicer on behalf of the Note A Holder
in accordance with the Servicing Agreement and this Agreement.

 

(e)       For
so long as Note A is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the
Mortgage Loan shall be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on
behalf of the Note A Holder pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure
of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interest of
each Noteholder therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent
from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Noteholders
may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the
Mortgage Loan, within the meaning of Section 1.860G 2(b) of the regulations of the United States Department of the Treasury, more
than three months after the earliest startup day of the REMIC which includes Note A (or any portion thereof). The Noteholders agree
that the provisions of this Section 5(e) shall be effected by compliance by the Note A Holder or its assignees with this Agreement
or the Servicing Agreement or any other agreement which governs the administration of the Mortgage Loan or the Note A Holder’s
interests therein. All costs and expenses of compliance with this Section 5(e), to the extent that

 

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such costs and expenses relate
to administration of a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions
or the actual payment of any REMIC tax or expense, shall be borne by the Note A Holder without reimbursement under Sections 3 or
4 hereof.

 

(f)        If
any consent, modification, amendment or waiver under or other action in respect of the Mortgage Loan or the Mortgage Loan Documents
(whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute a Major Decision has been requested
or proposed, at least ten (10) Business Days prior to taking action with respect to such Major Decision (or making a determination
not to take action with respect to such Major Decision), the Note A Holder (or Servicer acting on its behalf) shall request the
written consent of the Controlling Noteholder (or its Controlling Noteholder Representative) before implementing a decision with
respect to such Major Decision.

 

If the Controlling
Noteholder (or its Controlling Noteholder Representative) fails to respond to the Note A Holder (or Servicer acting on its behalf)
with respect to any such proposed action within ten (10) Business Days after receipt of such notice, the Controlling Noteholder
(or its Controlling Noteholder Representative), as applicable, shall have no further consent rights with respect to such action.

 

The Controlling Noteholder
(or its Controlling Noteholder Representative) acknowledges that, if the “retaining sponsor” in the Securitization
Trust has sold an “eligible horizontal interest” to a “third party purchaser” in accordance with Section
_.7 of the Credit Risk Retention Rule, then following the occurrence of an “Operating Advisor Consultation Trigger Event”
(or similar term) under the Servicing Agreement a Securitization Trust operating advisor may have the right to consult with the
Special Servicer with respect to Major Decisions.

 

Notwithstanding the foregoing,
following the occurrence of an extraordinary event with respect to any Mortgaged Property, or if a failure to take any such action
at such time would be inconsistent with the Servicing Standard, the Note A Holder (or Servicer acting on its behalf) may take actions
with respect to such Mortgaged Property before obtaining the consent of the Controlling Noteholder (or its Controlling Noteholder
Representative) if the Note A Holder (or Servicer acting on its behalf) reasonably determines in accordance with the Servicing
Standard that failure to take such actions prior to such consent would materially and adversely affect the interest of the Noteholders
as a whole, and the Note A Holder (or Servicer acting on its behalf) has made a reasonable effort to contact the Controlling Noteholder
(or its Controlling Noteholder Representative). The foregoing shall not relieve the Note A Holder (or Servicer acting on its behalf)
of its duties to comply with the Servicing Standard.

 

Notwithstanding the foregoing,
the Note A Holder (or Servicer acting on its behalf) shall not follow any advice, direction, objection or consultation provided
by the Controlling Noteholder (or its Controlling Noteholder Representative) that would require or cause the Note A Holder (or
Servicer acting on its behalf) to violate any applicable law, including the REMIC Provisions, be inconsistent with the Servicing
Standard, require or cause the Note A Holder (or Servicer acting on its behalf) to violate provisions of this Agreement or the
Servicing Agreement, require or cause the Note A Holder (or Servicer acting on its behalf) to

 

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 violate the terms of the Mortgage
Loan, or materially expand the scope of the Note A Holder’s (or Servicer acting on its behalf) responsibilities under this
Agreement.

 

(g)       The
Controlling Noteholder shall be entitled to approve the Asset Status Report in accordance with the time frame provided in the Servicing
Agreement.

 

(h)       (i)     If the Note B-1 Holder or the Note B-2 Holder is determined at any time of determination to no longer be the Controlling Noteholder
(the “Appraised-Out Holder”) as a result of the application of an Appraisal Reduction Amount, such Noteholder
shall have the right, at its sole expense, to require the Special Servicer to order a second Appraisal with respect to the Mortgage
Loan. The Special Servicer shall use its reasonable best efforts to ensure that such second Appraisal is (A) delivered within thirty
(30) days from receipt of the Appraised-Out Holder’s written request and (B) prepared on an “as-is” basis by
an MAI appraiser (provided that such MAI appraiser may not be the same MAI appraiser that provided the Appraisal in respect of
which the Appraised-Out Holder is requesting the Special Servicer to obtain an additional Appraisal).

 

(ii)   Upon receipt of
any supplemental Appraisal pursuant to clause (i) above, the Special Servicer shall determine, in accordance with the Servicing
Standard, whether, based on its assessment of such supplemental Appraisal, any recalculation of the Appraisal Reduction Amount
is warranted, and if so warranted, the Special Servicer shall recalculate the Appraisal Reduction Amount based on such supplemental
Appraisal and any information received from the Master Servicer. If required by such recalculation, the Appraised-Out Holder shall
be reinstated as the Controlling Noteholder and, if applicable, shall have its Principal Balance notionally restored to the extent
required by such recalculation of the Appraisal Reduction Amount. The Appraised-Out Holder requesting any supplemental Appraisal
pursuant to clause (i) above shall refrain from exercising any direction, control, consent and/or similar rights of the Controlling
Noteholder until such time, if any, as the holder is reinstated as the Controlling Noteholder (such period beginning upon receipt
by the Special Servicer of any request to obtain a supplemental Appraisal pursuant to clause (i) above to but excluding the date
on which either (A) the Special Servicer determines that no recalculation of the Appraisal Reduction Amount is warranted or (B)
the Special Servicer recalculates the Appraisal Reduction Amount based on the supplemental Appraisal, the “Appraisal Review
Period”). The rights of the Controlling Noteholder during each Appraisal Review Period shall be exercised by the Note
A Holder.

 

(i)        The
Note B-1 Holder and the Note B-2 Holder shall be entitled to avoid a Control Appraisal Period caused by application of an Appraisal
Reduction Amount upon satisfaction of the following (which must be completed within thirty (30) days of the receipt of a third
party Appraisal that indicates such Control Appraisal Period has occurred): (i) such Noteholder shall have delivered as a supplement
to the Appraised Value of the Mortgaged Property, in the amount specified in clause (ii) below, to the Servicer, together
with documentation acceptable to the Servicer in accordance with the Servicing Standard to create and perfect a first priority
security interest in favor of the Noteholders in such collateral (a) cash collateral for the benefit of the Notes, and acceptable
to, the Servicer or (b) an unconditional and irrevocable standby letter of credit with the Noteholders as the beneficiary, issued
by a bank or other financial institutions the long term unsecured debt obligations of which are at all times

 

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rated at least “AA”
by S&P, “A” by Fitch and “Aa2” by Moody’s or the short term obligations of which are rated at
least “A-1+” by S&P, “F-1” by Fitch and “P-1” by Moody’s (either (a) or (b),
the “Threshold Event Collateral”), and (ii) the Threshold Event Collateral shall be in an amount which, when
added to the Appraised Value of the Mortgaged Property as determined pursuant to the Servicing Agreement, would cause the applicable
Control Appraisal Period not to occur. If the requirements of this paragraph are satisfied by either the Note B-1 Holder or the
Note B-2 Holder (a “Threshold Event Cure”), no Note B-1 Control Appraisal Period or Note B-2 Control Appraisal
Period, as applicable, caused by application of an Appraisal Reduction Amount shall be deemed to have occurred. If a letter of
credit is furnished as Threshold Event Collateral, the Note B-1 Holder or Note B-2 Holder, as applicable, shall be required to
renew such letter of credit not later than thirty (30) days prior to expiration thereof or to replace such letter of credit with
a substitute letter of credit or other Threshold Event Collateral with an expiration date that is greater than forty-five (45)
days from the date of substitution; provided, however, that, if a letter of credit is not renewed prior to thirty
(30) days prior to the expiration date of such letter of credit, the letter of credit shall provide that the Servicer may (and
at the direction of the Note B-1 Holder or Note B-2 Holder, as applicable, shall) draw upon such letter of credit and hold the
proceeds thereof as Threshold Event Collateral. If a letter of credit is furnished as Threshold Event Collateral, the Note B-1
Holder or Note B-2 Holder, as applicable, shall be required to replace such letter of credit with other Threshold Event Collateral
within thirty (30) days if the credit ratings of the issuing entity are downgraded below the required ratings; provided,
however, that, if such Threshold Event Collateral is not so replaced, the Servicer shall draw upon such letter of credit
and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue until (i) the Appraised Value
of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient to prevent a Control Appraisal
Period from occurring; or (ii) final liquidation of the Mortgage Loan or REO Property. If the Appraised Value of the Mortgaged
Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal Period without taking
into consideration any, or some portion of, Threshold Event Collateral previously delivered by such Noteholder, any or such portion
of Threshold Event Collateral held by the Servicer shall promptly be returned to the Note B-1 Holder or Note B-2 Holder, as applicable
(at its sole expense). Upon final liquidation or repayment of the Mortgage Loan or REO Property with respect to the Mortgage Loan,
such Threshold Event Collateral shall be available to reimburse each Noteholder for any realized loss pursuant to the priorities
provided in Section 3 or 4, as applicable, with respect to the Mortgage Loan after application of the net proceeds
of liquidation, but not in excess of the Principal Balances of the Notes, plus accrued and unpaid interest thereon at the applicable
interest rate and all other Additional Servicing Expenses reimbursable under this Agreement and under the Servicing Agreement.
The entire amount of Threshold Event Collateral, without a haircut or other reduction, shall be considered in determining the sufficiency
of such Threshold Event Collateral to avoid a Control Appraisal Period.

 

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

 

(k)       If
the Mortgaged Property becomes an REO Property, the same shall be acquired, managed and operated in the manner provided in the
Servicing Agreement.

 

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Section 6.     Appointment
of the Controlling Noteholder Representative.

 

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

 

(b)       Neither
the Controlling Noteholder Representative nor the Controlling Noteholder will have any liability to the other Noteholders or any
other Person for any action taken, or for refraining from the taking of any action 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 Noteholders agree that the Controlling Noteholder Representative and any Controlling Noteholder (whether
acting in place of the Controlling Noteholder Representative when no Controlling Noteholder Representative shall have been appointed
hereunder or otherwise exercising any right, power or privilege granted to the Controlling Noteholder hereunder) may take or refrain
from taking actions that favor the interests of one Noteholder over the other Noteholders, and that the Controlling Noteholder
Representative may have special relationships and interests that conflict with the interests of a Noteholder and, absent willful
misfeasance, bad faith or gross negligence on the part of the Controlling Noteholder Representative or such Controlling Noteholder,
as the case may be, agree to take no action against the Controlling Noteholder Representative, such Controlling Noteholder or any
of their respective officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that neither the Controlling Noteholder Representative nor such Controlling Noteholder will be deemed to have been grossly
negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded any

 

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exercise
of its rights by reason of its having acted or refrained from acting solely in the interests of any Noteholder.

 

(c)       If
the Note A Holder is the Controlling Noteholder, the Note B-1 Holder acknowledges and agrees all of the aforementioned rights and
obligations of the Controlling Noteholder and the Controlling Noteholder Representative set forth in Section 5(f) and this Section
6 shall be exercisable by the Note A Holder (or the applicable Person specified in the Servicing Agreement) to the extent set forth
in the Servicing Agreement.

 

Section 7.     Special
Servicer. Subject to the terms of the Servicing Agreement, the Controlling Noteholder (or its Controlling Noteholder Representative),
at its expense (including, without limitation, the reasonable costs and expenses of counsel to any third parties and costs and
expenses of the terminated Special Servicer), shall have the right to appoint a replacement Special Servicer under the Servicing
Agreement, with or without cause, upon at least ten (10) Business Days’ prior notice to the Special Servicer (provided, however,
that the Controlling Noteholder (or its Controlling Noteholder Representative) shall not be liable for any termination or similar
fee in connection with the removal of the Special Servicer in accordance with this Section 7); any such termination not to be effective
unless and until (A) each Rating Agency delivers Rating Agency Confirmation with respect to the identity of any such replacement
Special Servicer (to the extent Note A and/or Note B-1 has been transferred in connection with a Securitization); (B) the initial
or successor Special Servicer has assumed in writing (from and after the date such successor Special Servicer becomes the Special
Servicer) all of the responsibilities, duties and liabilities of the Special Servicer under the Servicing Agreement from and after
the date it becomes the Special Servicer as they relate to such Mortgage Loan pursuant to an assumption agreement reasonably satisfactory
to the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory to the Trustee to the effect
that (x) such replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage Loan and (y) subject
to customary qualifications and exceptions, the applicable servicing agreement will be enforceable against such replacement in
accordance with its terms. The Controlling Noteholder shall promptly provide copies to any terminated Special Servicer of the documents
referred to in the preceding sentence.

 

 Notwithstanding
the foregoing, after the Securitization Date, if the “retaining sponsor” in the Securitization Trust has sold an “eligible
horizontal interest” to a “third party purchaser” in accordance with Section 244.7 of the Credit Risk Retention
Rule, each Noteholder agrees that the Special Servicer may be replaced upon (a) the recommendation of the operating advisor appointed
under the Securitization Servicing Agreement if the operating advisor determines, in its sole discretion exercised in good faith,
that (1) the Special Servicer has failed to comply with the Servicing Standard and (2) a replacement of the Special Servicer would
be in the best interest of the holders of the Certificates, and (b) the subsequent affirmative vote of “ABS interests”
(as defined in Section 244.2 of the Credit Risk Retention Rule). However, the Note B-2 Holder shall retain its right to subsequently
remove and replace the Special Servicer, but the Note B-2 Holder shall not restore a Special Servicer that has been replaced pursuant
to the preceding sentence.

 

Prior to the Securitization,
if the Mortgage Loan becomes a Specially Serviced Mortgage Loan, and if not later than thirty (30) days after the Mortgage Loan
becomes a

 

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Specially Serviced Mortgage Loan the Controlling Noteholder (or its Controlling Noteholder Representative) elects to
replace the Special Servicer, then each Noteholder agrees that no liquidation fees or workout fees shall be payable to the Special
Servicer being replaced, unless such Special Servicer shall have either successfully completed a workout or a liquidation, in which
case such fees shall be payable as provided herein.

 

Section 8.     Payment
Procedure.

 

(a)       The
Note A Holder (or the Servicer on its behalf), in accordance with the priorities set forth in Section 3 or 4, as applicable, and
subject to the terms of the Servicing Agreement, shall deposit or cause to be deposited all payments allocable to the Notes to
the Collection Account for the Notes established pursuant to the Servicing Agreement. The Note A Holder (or the Servicer on its
behalf) shall establish a segregated sub-account for amounts due to the Note A Holder, the Note B-1 Holder and the Note B-2 Holder.
The Note A Holder (or the Servicer acting on its behalf) shall deposit such amounts to the applicable account on the Business Day
next following the date such payment was received by the Note A Holder (or the Servicer acting on its behalf) from or on behalf
of the Mortgage Loan Borrower.

 

(b)       If
the Note A Holder (or the Servicer on its behalf) determines, or a court of competent jurisdiction orders, at any time that any
amount received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference
or similar law, be returned to the Mortgage Loan Borrower or paid to the Note A Holder, the Note B-1 Holder, the Note B-2 Holder
or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Note A Holder (or
the Servicer on its behalf) shall not be required to distribute any portion thereof to such Noteholder, and such Noteholder shall
promptly on demand by the Note A Holder (or the Servicer on its behalf) repay to the Note A Holder (or the Servicer on its behalf)
any portion thereof that the Note A Holder (or the Servicer on its behalf) shall have theretofore distributed to such Noteholder
together with interest thereon at such rate, if any, as the Note A Holder shall have been required to pay to any Mortgage Loan
Borrower, the Note A Holder, Master Servicer, Special Servicer or such other Person with respect thereto.

 

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

 

(d)       Each
Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable share thereof, it will promptly remit such excess to the Note A Holder (or the Servicer on its behalf),
the Note B-1 Holder or the Note B-2 Holder, as applicable, subject to this Agreement and the Servicing Agreement. The Note A Holder
(or the Servicer on its behalf) shall have the right to offset any amounts due under this Section 8(d) from a Noteholder with respect
to the

 

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Mortgage Loan against any future payments due to such Noteholder under the Mortgage Loan, provided, that each Noteholder’s
obligations under this Section 8 are separate and distinct obligations from one another and in no event shall Note A Holder (or
the Servicer on its behalf) enforce the obligations of one Noteholder against another Noteholder. The Note A Holder’s, the
Note B-1 Holder’s and the Note B-2 Holder’s obligations under this Section 8 constitute absolute, unconditional and
continuing obligations.

 

Section 9.     Limitation
on Liability of the Noteholders. Each Noteholder (including any Servicer, except as otherwise provided in the Servicing Agreement
) shall have no liability to any other Noteholder with respect to its Note except with respect to losses actually suffered due
to the gross negligence, willful misconduct or breach of this Agreement on the part of such Noteholder (or Servicer).

 

The Noteholders acknowledge
that, subject to the terms and conditions hereof and the obligation of the Note A Holder (including any Servicer) to comply with,
and except as otherwise required by, the Servicing Standard, the Note A Holder (including any Servicer) may exercise, or omit to
exercise, any rights that the Note A Holder may have under this Agreement and the Servicing Agreement in a manner that may be adverse
to the interests of the Note B-1 Holder or the Note B-2 Holder and that the Note A Holder (including any Servicer) shall have no
liability whatsoever to either the Note B-1 Holder or the Note B-2 Holder in connection with the Note A Holder’s exercise
of rights or any omission by the Note A Holder to exercise such rights other than as described above; provided, however,
that the Servicer must act in accordance with the Servicing Standard and the Note A Holder shall not be protected against any liability
to the other Noteholders that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence.

 

The Note A Holder acknowledges
that, subject to the terms and conditions hereof, any other Noteholder may exercise, or omit to exercise, any rights that such
Noteholder may have under this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of the Note
A Holder and that such Noteholder shall have no liability whatsoever to the Note A Holder in connection with such Noteholder’s
exercise of rights or any omission by the such Noteholder to exercise such rights; provided, however, that no Noteholder
shall be protected against any liability to the Note A Holder that would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence.

 

Section 10.     Bankruptcy.
Subject to the provisions of Section 5(f) hereof, the Note B-1 Holder and the Note B-2 Holder hereby covenants and agrees that
only the Note A Holder (or the Servicer on its behalf) has the right to institute, file, commence, acquiesce, petition under Bankruptcy
Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an
Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its
property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Subject to the provisions
of Section 5(f) hereof, the Note B-1 Holder and the Note B-2 Holder further agrees that only the Note A Holder, as a creditor,
can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take
any other action in any case by or against the

 

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Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding.
The Note B-1 Holder and the Note B-2 Holder hereby appoints the Note A Holder as its agent, and grants to the Note A Holder an
irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of exercising any and all rights and taking
any and all actions available to the Note B-1 Holder and the Note B-2 Holder in connection with any case by or against the Mortgage
Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file
and/or prosecute any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code
with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage
Loan. The Note B-1 Holder and the Note B-2 Holder hereby agree that, upon the request of the Note A Holder, such Noteholder shall
execute, acknowledge and deliver to the Note A Holder all and every such further deeds, conveyances and instruments as the Note
A Holder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken
by the Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard
and this Agreement.

 

Section 11.     Cure
Rights of the Note B-1 Holder and the Note B-2 Holder.

 

(a)       Subject
to Section 11(b) below, in the event that the Mortgage Loan Borrower fails to make any payment of principal or interest on the
Mortgage Loan by the end of the applicable grace period for such payment permitted under the applicable Mortgage Loan Documents
(a “Monetary Default”), the Note A Holder shall promptly provide notice to the Note B-1 Holder, the Note B-2
Holder and the Controlling Noteholder Representative of such default (the “Monetary Default Notice”). The Note
B-1 Holder and the Note B-2 Holder shall have the right, but not the obligation, to cure such Monetary Default (such curing Noteholder,
the “Curing Noteholder”) within ten (10) Business Days after receiving the Monetary Default Notice (the “Cure
Period”). If one or more of the Noteholders elect to cure such Monetary Default, the most subordinate of such Noteholders
will be the “Curing Noteholder”. At the time a payment is made to cure a Monetary Default, the Curing Noteholder shall
pay or reimburse the Note A Holder (and each more senior Noteholder) for all unreimbursed Advances (whether or not recoverable),
Advance Interest Amounts, any unpaid fees to any Servicer and any Additional Servicing Expenses. The Curing Noteholder shall not
be required, in order to effect a cure hereunder, to pay any default interest or late charges under the Mortgage Loan Documents.
So long as a Monetary Default exists for which a cure payment permitted hereunder is made, such Monetary Default shall not be treated
as an Event of Default by the Note A Holder (including for purposes of (i) the definition of “Sequential Pay Event,”
(ii) accelerating the Mortgage Loan, modifying, amending or waiving any provisions of the Mortgage Loan Documents or commencing
proceedings for foreclosure or the taking of title by deed-in-lieu of foreclosure or other similar legal proceedings with respect
to the Mortgaged Property, or (iii) treating the Mortgage Loan as a Specially Serviced Mortgage Loan); provided that such
limitation shall not prevent the Note A Holder from collecting default interest or late charges from the Mortgage Loan Borrower.
Any amounts advanced by a Noteholder on behalf of the Mortgage Loan Borrower to effect any cure shall be reimbursable to such Noteholder
under Section 3 or Section 4, as applicable.

 

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(b)       Notwithstanding
anything to the contrary contained in Section 11(a), the Note B-1 Holder and the Note B-2 Holder shall be limited to six (6) cures
of Monetary Defaults in any 12 month period, but in no event more than twelve (12) cures of Monetary Defaults over the term of
the Mortgage Loan, and six (6) cures of Non-Monetary Defaults over the term of the Mortgage Loan, it being understood that a Non-Monetary
Default Cure Period that may extend longer than one month in accordance with Section 11(d) shall be considered to be a single cure.
Additional Cure Periods shall only be permitted with the consent of the Note A Holder (or the Servicer acting on its behalf) and
in the case of any cure made by the Note B-2 Holder, the Note B-1 Holder.

 

(c)       No
action taken by the Note B-1 Holder or the Note B-2 Holder in accordance with this Agreement shall excuse performance by the Mortgage
Loan Borrower of its obligations under the Mortgage Loan Documents and Note A Holder’s rights under the Mortgage Loan Documents
shall not be waived or prejudiced by virtue of the Note B-1 Holder’s or the Note B-2 Holder’s actions under this Agreement.
Subject to the terms of this Agreement, the Curing Noteholder shall be subrogated to the Note A Holder’s rights and, in the
case of a cure by the Note B-2 Holder, to the Note B-1 Holder’s rights to any payment owing to the Note A Holder and, if
applicable, to the Note B-1 Holder for which the Curing Noteholder makes a cure payment as permitted under this Section 11 but
such subrogation rights may not be exercised against the Mortgage Loan Borrower until 91 days after Note A (and in the case of
any subrogation rights held by the Note B-2 Holder, Note B-1) is paid in full.

 

(d)       If
an Event of Default (other than a Monetary Default) occurs and is continuing under the Mortgage Loan Documents (a “Non-Monetary
Default”), the Note A Holder shall promptly provide notice to the Note B-1 Holder, the Note B-2 Holder and the Controlling
Noteholder Representative of such failure (the “Non-Monetary Default Notice”) and the Note B-1 Holder and the
Note B-2 Holder shall have the right, but not the obligation, to cure such Non-Monetary Default within ten (10) days from the later
of (i) the expiration of the cure period of the Mortgage Loan Borrower under the Mortgage Loan Documents and (ii) receipt of the
Non-Monetary Default Notice; provided, however, if such Non-Monetary Default is susceptible of cure but cannot reasonably
be cured within such period and if curative action was promptly commenced and is being diligently pursued by the Curing Noteholder,
such Curing Noteholder shall be given an additional period of time as is reasonably necessary to enable such Curing Noteholder
in the exercise of due diligence to cure such Non-Monetary Default for so long as (i) the Curing Noteholder diligently and expeditiously
proceeds to cure such Non-Monetary Default, (ii) the Curing Noteholder makes all cure payments that it is permitted to make in
accordance with the terms and provisions of Section 11(a) hereof, (iii) such additional period of time does not exceed seventy
five (75) days, (iv) such Non-Monetary Default is not caused by an Insolvency Proceeding or during such period of time that the
Curing Noteholder has to cure a Non-Monetary Default in accordance with this Section 11(d) (the “Non-Monetary Default
Cure Period”), an Insolvency Proceeding does not occur and (v) during such Non-Monetary Default Cure Period, there is
no material adverse effect on the Mortgage Loan Borrower or the Mortgaged Property or the value of the Mortgage Loan as a result
of such Non-Monetary Default or the attempted cure. If one or more of the Noteholders elect to cure such default, the most subordinate
of such Noteholders will be the “Curing Noteholder” so long as it is diligently pursuing such non-monetary cure, and
will have the exclusive right to effect such cure.

 

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Section 12.     Purchase
Rights of Subordinate Noteholders. The Note B-1 Holder and the Note B-2 Holder shall have the right, by written notice to the
Noteholders of the Notes senior thereto (a “Noteholder Purchase Notice”), delivered at any time an Event of
Default under the Mortgage Loan has occurred and is continuing, to purchase (such purchasing Noteholder, the “Purchasing
Noteholder”), in immediately available funds, each of the Notes that are senior to such Note, in whole but not in part
at the applicable Defaulted Mortgage Loan Purchase Price. Upon the delivery of the Noteholder Purchase Notice to the applicable
Noteholder, the applicable Noteholder shall sell (and the Purchasing Noteholder shall purchase) the applicable Note (including,
without limitation, any Notes therein) at the applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Defaulted
Note Purchase Date”) (i) not more than fifteen (15) Business Days after the written exercise by the Purchasing Noteholder
to purchase the applicable senior Notes or (ii) not more than forty (40) days after the written exercise by the Purchasing Noteholder
to purchase the applicable senior Notes if such Purchasing Noteholder deposits 10% of the Defaulted Mortgage Loan Purchase Price
with the selling Noteholder(s) within ten (10) Business Days after the written exercise of the Purchasing Noteholder to purchase
the applicable senior Notes. Any Noteholder Purchase Notice shall contain a statement that the Noteholder’s failure to purchase
the applicable senior Note(s) on a Defaulted Note Purchase Date will result in the termination of such Noteholder’s right.
The Purchasing Noteholder agrees that the sale of the purchased Notes shall comply with all requirements of the Servicing Agreement
and that all costs and expenses related thereto shall be paid by the Purchasing Noteholder. The Defaulted Mortgage Loan Purchase
Price shall be calculated by the Note A Holder (or the Servicer on its behalf) three (3) Business Days prior to the Defaulted Note
Purchase Date (and such calculation shall be accompanied by a listing of all amounts included in the Defaulted Mortgage Loan Purchase
Price), and shall, absent manifest error, be binding upon the Purchasing Noteholder. Concurrently with the payment to the Note
A Holder and, if applicable, the Note B-1 Holder in immediately available funds of its respective portion of the applicable Defaulted
Mortgage Loan Purchase Price, the selling Noteholder shall execute at the sole cost and expense of the Purchasing Noteholder in
favor of such Purchasing Noteholder assignment documentation that will assign the purchased Note(s) and the Mortgage Loan Documents
without recourse, representations or warranties (except that each selling Noteholder shall represent and warrant that it had good
and marketable title to, was the sole owner and holder of, and had power and authority to deliver the Mortgage Loan or Note, as
applicable, free and clear of all liens and encumbrances). The right of the Note B-1 Holder and the Note B-2 Holder to purchase
shall automatically terminate upon a foreclosure sale, sale by power of sale or delivery of a deed in lieu of foreclosure with
respect to the Mortgaged Property (and the Note A Holder shall give the Note B-1 Holder and the Note B-2 Holder fifteen (15) days’
notice of its intent with respect to any such action). Notwithstanding the foregoing sentence, if title to the Mortgaged Property
is transferred to the Note A Holder (or a designee on its behalf) less than fifteen (15) days after the acceleration of the Mortgage
Loan, the Note A Holder shall notify the Note B-1 Holder and the Note B-2 Holder of such transfer, and each of the Note B-1 Holder
and/or the Note B-2 Holder shall have a fifteen (15) day period from the date of such notice from the Note A Holder to deliver
the Noteholder Purchase Notice in accordance with this Section 12, in which case the Purchasing Noteholder will be obligated
to purchase the Mortgaged Property, in immediately available funds, within such fifteen (15) day period at the applicable Defaulted
Mortgage Loan Purchase Price for such Notes(s). In the event one or more of the Note B-1

 

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Holder or the Note B-2 Holder delivers
a Noteholder Purchase Notice, the most subordinate Noteholder shall have the right to exercise the purchase option set forth in
this Section 12.

 

Section 13.     Representations
of the Note B-1 Holder and the Note B-2 Holder. Each of the Note B-1 Holder and the Note B-2 Holder represents, and it is specifically
understood and agreed, that it is acquiring its respective Note for its own account in the ordinary course of its business and
the Note A Holder shall otherwise have no liability or responsibility to either the Note B-1 Holder or the Note B-2 Holder except
as expressly provided herein or for actions that are taken or omitted to be taken by the Note A Holder that constitute gross negligence
or willful misconduct or that constitute a breach of this Agreement. Each of the Note B-1 Holder and the Note B-2 Holder represents
and warrants that the execution, delivery and performance of this Agreement is within its respective corporate powers, has been
duly authorized by all necessary corporate action, and does not contravene such Noteholder’s charter or any law or contractual
restriction binding upon such Noteholder, and that this Agreement is the legal, valid and binding obligation of such Noteholder
enforceable against such Noteholder in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally, and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and except
that the enforcement of rights with respect to indemnification and contribution obligations may be limited by applicable law. Each
of the Note B-1 Holder and the Note B-2 Holder represents and warrants that it is duly organized, validly existing, in good standing
and possesses of all licenses and authorizations necessary to carry on its business. Each of the Note B-1 Holder and the Note B-2
Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such Noteholder, (b) to such Noteholder’s
actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body,
if any, required for the execution, delivery and performance of this Agreement by such Noteholder have been obtained or made, (c)
to such Noteholder’s actual knowledge, there is no pending action, suit or proceeding, arbitration or governmental investigation
against such Noteholder, an adverse outcome of which would materially and adversely affect its performance under this Agreement
and (d) the acquisition and holding of its Note will not result in a non-exempt violation of any applicable federal, state or local
law that is materially similar to Section 406 of ERISA or Section 4975 of the Code.

 

Each of the Note B-1
Holder and the Note B-2 Holder acknowledges that the Note A Holder does not owe either the Note B-1 Holder or the Note B-2 Holder
any fiduciary duty with respect to any action taken under the Mortgage Loan Documents and, except as provided herein, need not
consult with the Note B-1 Holder or the Note B-2 Holder with respect to any action taken by the Note A Holder in connection with
the Mortgage Loan.

  

Each of the Note B-1
Holder and the Note B-2 Holder expressly and irrevocably waives for itself and any Person claiming through or under the Note B-1
Holder or the Note B-2 Holder any and all rights that it may have under Section 1315 of the New York Real Property Actions and
Proceedings Law or the provisions of any similar law which purports to give a junior loan Noteholder the right to initiate any
loan enforcement or foreclosure proceedings.

 

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Section 14.     Representations
of the Initial Note A Holder. The Initial Note A Holder represents and warrants that the execution, delivery and performance
of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene
the Initial Note A Holder’s charter or any law or contractual restriction binding upon the Initial Note A Holder, and that
this Agreement is the legal, valid and binding obligation of the Initial Note A Holder enforceable against the Initial Note A Holder
in accordance with its terms. The Initial Note A Holder represents and warrants that it is duly organized, validly existing, in
good standing and possession of all licenses and authorizations necessary to carry on its business. The Initial Note A Holder represents
and warrants that (a) this Agreement has been duly executed and delivered by the Initial Note A Holder, (b) to the Initial Note
A Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental
agency or body, if any, required for the execution, delivery and performance of this Agreement by the Initial Note A Holder has
been obtained or made and (c) to the Initial Note A Holder’s actual knowledge, there is no pending action, suit or proceeding,
arbitration or governmental investigation against the Initial Note A Holder, an adverse outcome of which would materially and adversely
affect its performance under this Agreement.

 

Section 15.     Independent
Analysis of the Note B-1 Holder and the Note B-2 Holder. Each of the Note B-1 Holder and the Note B-2 Holder acknowledges that
it has, independently and without reliance upon the Initial Note A Holder, except with respect to the representations and warranties
provided by the Initial Note A Holder herein, and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to purchase its Note and each of the Note B-1 Holder and the Note B-2 Holder accepts responsibility
therefor. Each of the Note B-1 Holder and the Note B-2 Holder hereby acknowledges that, other than the representations and warranties
provided herein, the Note A Holder has made no representations or warranties with respect to the Mortgage Loan, subject to such
representations and warranties as provided by the Note A Holder herein, and that the Note A Holder shall have no responsibility
for (i) the collectibility of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan
Documents or the title insurance policy or policies or any survey furnished or to be furnished to the Note A Holder in connection
with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be created
by the Mortgage Loan Documents, or (iv) the financial condition of the Mortgage Loan Borrower. The Note A Holder assumes all risk
of loss in connection with Note A except as specifically set forth herein. The Note B-1 Holder assumes all risk of loss in connection
with Note B-1 except as specifically set forth herein. The Note B-2 Holder assumes all risk of loss in connection with Note B-2
except as specifically set forth herein.

 

Section 16.     No
Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto
shall be deemed to constitute the relationship created hereby among any of the Noteholders as a partnership, association, joint
venture or other entity. No Noteholder shall have any obligation whatsoever to offer to any other Noteholder the opportunity to
purchase a participation interest in any future loans originated by such Noteholder or its Affiliates and if any Noteholder chooses
to offer to any other Noteholder the opportunity to purchase a participation interest in any future mortgage loans originated by
such Noteholder or its Affiliates, such offer shall be at such purchase price and interest rate as such Noteholder chooses, in
its sole and absolute discretion. No Noteholder

 

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 shall have any obligation whatsoever to purchase from any other the Noteholder
a participation interest in any future loans originated by such Noteholder or its Affiliates.

 

Section 17.     Not
a Security. Neither Note B-1 nor Note B-2 shall be deemed to be a security within the meaning of the Securities Act of 1933
or the Securities Exchange Act of 1934.

 

Section 18.     Other
Business Activities of the Noteholders. Each Noteholder acknowledges that each of the other Noteholders or its Affiliates may
make loans or otherwise extend credit to, and generally engage in any kind of business with, any Affiliate of the Mortgage Loan
Borrower Related Party, and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties
and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions
contemplated hereby were not in effect.

 

Section 19.     Sale
of the Notes.

 

(a)       Each
of the Note B-1 Holder and the Note B-2 Holder agrees that it will not Transfer all or any portion of its Note except that each
such Noteholder shall have the right to Transfer its respective Note, or any portion thereof, without the consent of the Note A
Holder or any other Person (i) to a Qualified Transferee, or (ii) to an entity that is not a Qualified Transferee, provided that:

 

(A) in the
case of both clause (i) and (ii) such transfer would not cause the applicable Note to be directly held by more than five (5) Persons,
and

 

(B) in the
case of clause (ii) such Noteholder obtains (1) prior to a Securitization of Note A or Note B-1, the consent of the Note A Holder
or the Note B-1 Holder, as applicable, which shall not be unreasonably withheld, delayed or conditioned and (2) after a Securitization
of Note A or Note B-1, Rating Agency Confirmation (and for avoidance of doubt, no consent of the Note A Holder or the Note B-1
Holder shall be required after a Securitization).

 

If either Note B-1 or
Note B-2 is held by more than one Noteholder at any time, the holders of a majority of the Note B-1 Principal Balance or the Note
B-2 Principal Balance, as applicable, shall immediately appoint a representative to exercise all of the rights allocated to the
holder of such Note hereunder.

 

Notwithstanding the foregoing,
without (1) the Note A Holder’s prior consent, which may be withheld in the Note A Holder’s sole discretion, and (2)
if Note B-1 is included in a Securitization, Rating Agency Confirmation from the Rating Agencies rating the related loan specific
certificates, the Note B-1 Holder and the Note B-2 Holder shall not Transfer all or any portion of its respective Note to the Mortgage
Loan Borrower or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest
no rights in the purported transferee. The Note B-1 Holder and the Note B-2 Holder agree that the transferring Noteholder will
pay the reasonable documented expenses of the non-transferring Noteholder (including all expenses of the Master Servicer and the
Special Servicer) in

 

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connection with any such Transfer. The Agent shall provide two (2) Business Days prior written notice to each
Rating Agency of any Transfer of any Note.

 

(b)       Notwithstanding
the foregoing, the Note B-1 Holder and the Note B-2 Holder shall have the right, without the need to obtain the consent of the
Note A Holder or any other Person, to Transfer 49% or less (in the aggregate) of its interest in its Note to any Person; provided
that any such Transfer shall be made in accordance with the other terms of this Section 19.

 

(c)       All
Transfers of Note B-1 and Note B-2, other than transfer of a participation interest in any such Note, under Sections 19(a) and
(b) shall be made upon written notice to the Note A Holder not later than the date of such Transfer, and each transferee shall
(i) execute an assignment and assumption agreement whereby such transferee represents that it is a Qualified Transferee (except
in the case of a transfer of less than 49% of Note B-1 or Note B-2) or that the applicable consent and/or confirmation described
in Section 19(a) has been obtained and assumes all or a ratable portion, as the case may be, of the obligations of the Note B-1
Holder or the Note B-2 Holder, as applicable, hereunder with respect to the applicable Note from and after the date of such assignment
(or, in the case, of a pledge, collateral assignment or other encumbrance made in accordance with Section 19(g) by the Note B-1
Holder or the Note B-2 Holder of Note B-1 or Note B-2, as applicable, solely as security for a loan to the Note B-1 Holder or the
Note B-2 Holder, as applicable, made by a third-party lender whereby such Noteholder remains fully liable under this Agreement,
on or before the date on which such lender succeeds to the rights of the Note B-1 Holder or the Note B-2 Holder, as applicable,
by foreclosure or otherwise, such third-party lender executes an agreement that such lender shall be bound by the terms and provisions
of this Agreement and the obligations of the Note B-1 Holder or the Note B-2 Holder, as applicable, hereunder) and (ii) agree in
writing to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in effect with respect to the Mortgage
Loan, in which event the parties will enter into or agree to be bound by any replacement servicing agreement therefor in accordance
with the provisions hereof.

 

(d)       Upon
the consummation of a Transfer of all or any portion of Note B-1 or Note B-2 in accordance with this Agreement, the transferring
Person shall be released from all liability arising under this Agreement with respect to the transferred Note (or the portion thereof
that was the subject of such Transfer), for the period after the effective date of such Transfer (it being understood and agreed
that the foregoing release shall not apply in the case of a sale, assignment, transfer or other disposition of a participation
interest in a Note as described in clause (e) below). In connection with any such permitted transfer of a portion of Note B-1 or
Note B-2 and for all purposes of this Agreement, the Note A Holder need only recognize the majority holder of Note B-1 or Note
B-2, as applicable, for purposes of notices, consents and other communications between the Note A Holder and such majority holder
of Note B-1 or Note B-2, as applicable, shall be the only Person authorized hereunder to exercise any rights of the Note B-1 Holder
or the Note B-2 Holder under this Agreement. The majority holder of Note B-1 or a majority holder of Note B-2 may from time to
time designate any other Person as an additional party entitled to receive notices, consents and other communications and/or to
exercise rights on behalf of such Noteholder hereunder by delivering written notice thereof to the Note A Holder, and, from and
after delivery of such notice, such designee shall be so authorized

 

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hereunder and shall be the only party entitled to receive such
notices, consents and such other communications and/or to exercise such rights.

 

(e)         In
the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such Noteholder’s
obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance
of such obligations, (iii) the other Noteholders and any Persons acting on its behalf shall continue to deal solely and directly
with such Noteholder in connection with such Noteholder’s rights and obligations under this Agreement and the Servicing Agreement,
and (iv) all amounts payable hereunder shall be determined as if such Noteholder had not sold such participation interest; provided,
however, that if the applicable participant is a Qualified Transferee (and delivers to the other Noteholder a certification
from an authorized officer confirming its status as a Qualified Transferee), such Noteholder, by written notice to the other Noteholder,
may delegate to such participant such Noteholder’s right to exercise the rights of the Controlling Noteholder hereunder and
under the Servicing Agreement; provided, further, however, that upon the occurrence of a Control Appraisal
Period with respect to Note B-1 or Note B-2, as applicable, the aforesaid delegation of rights shall terminate and be of no further
force and effect.

 

(f)          The
Note A Holder shall have the right to Transfer all or any portion of Note A without the prior consent of any Noteholder except
that, the Note A Holder shall not Transfer all or any portion of Note A to the Mortgage Loan Borrower or a Mortgage Loan Borrower
Related Party and any such Transfer to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party shall be absolutely
null and void and shall vest no rights in the purported transferee.

 

(g)         Prior
to a Control Appraisal Period, the Note A Holder shall not be permitted to transfer (i) all or any portion of Note B-1 without
the prior consent of the Note B-1 Holder or (ii) all or any portion of Note B-2 without the prior consent of the Note B-2 Holder.
If a Control Appraisal Period has occurred and is continuing, if the Mortgage Loan is a Defaulted Loan, the Note A Holder (or the
Special Servicer acting on its behalf) shall have the right to sell Note B-1 and Note B-2 together with Note A, without the Note
B-1 Holder’s or the Note B-2 Holder’s consent, subject to satisfaction of the following conditions:

 

(1)       the
Special Servicer has delivered to the Note B-1 Holder and the Note B-2 Holder: (a) at least fifteen (15) Business Days’ prior
written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date,
a copy of each bid package (together with any material amendments to such bid packages) received by the Special Servicer in connection
with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for
the Mortgage Loan, and any documents in the Servicing File reasonably requested by the Note B-1 Holder or the Note B-2 Holder that
are material to the sale price of the Mortgage Loan and (d) until the sale is completed and a reasonable period of time (but no
less time than is afforded to other offerors and the Controlling Class Representative (as such term is defined in the Servicing
Agreement)) prior to the proposed sale date, all information and other documents being provided to other

 

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offerors and all leases
or other documents that are approved by any Servicer in connection with the proposed sale;

 

(2)       all
offers are to be submitted to the Trustee in writing;

 

(3)       whether
any cash offer constitutes a fair price for the Notes shall be determined by the Trustee; provided, that no offer from an
Interested Person (as defined in the Servicing Agreement) shall constitute a fair price unless (a) it is the highest offer received
and (b) at least two bona fide other offers are received from independent third parties;

 

(4)       in
determining whether any offer received represents a fair price for the Notes, the Trustee shall be supplied with and shall rely
on the most recent Appraisal or updated Appraisal conducted in accordance with the Servicing Agreement within the preceding nine
(9) month period or, in the absence of any such Appraisal, on a new Appraisal;

 

(5)       the
Trustee may conclusively rely on the opinion of an Independent (as defined in the Servicing Agreement) appraiser or other Independent
expert in real estate matters retained by the Trustee at the expense of the Noteholders in connection with making such determination;
and

 

(6)       the
Note B-1 Holder and/or the Note B-2 Holder shall be permitted to submit an offer at any sale of the Mortgage Loan unless such Person
is the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party.

 

(h)          Notwithstanding
anything to the contrary contained herein, each Noteholder may pledge or transfer (a “Pledge”) its Note to any
entity (other than the Mortgage Loan Borrower or any Affiliate thereof) that has extended a credit or repurchase facility to such
Noteholder 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
19(h), it being further agreed that a financing provided by a Note Pledgee to a Noteholder or any Affiliate that Controls such
Noteholder that is secured by such Noteholder’s interest in its respective Note and is structured as a repurchase arrangement,
shall qualify as a “Pledge” hereunder, provided that a Note Pledgee that is not a Qualified Transferee may not
take title to the pledged Note without (a) prior to Securitization or Note A or Note B-1, the consent of each other Noteholder
and (b) after Securitization of Note A and/or Note B-1, Rating Agency Confirmation. Upon written notice, if any, by the pledging
Noteholder to the other Noteholders and the Servicer that a Pledge has been effected (including the name and address of the applicable
Note Pledgee), the other Noteholders agree to acknowledge receipt of such notice and thereafter agrees: (i) to give such Note Pledgee
written notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of which default such
Noteholder has actual knowledge and which shall be given simultaneously with the giving of such notice to the pledging Noteholder;
(ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default by the pledging Noteholder in

 

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respect of its
obligations to any other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that
no amendment, modification, waiver or termination of this Agreement shall be effective against such Note Pledgee without the written
consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed 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 Business Days after request thereof; (iv) that such other Noteholders shall accept any cure by such Note
Pledgee of any default of the pledging Noteholder which such pledging Noteholder has the right to effect hereunder, as if such
cure were made by such pledging Noteholder; (v) that such other Noteholder or any 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 such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to the other
Noteholders and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods
with respect to the pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement or
other agreement relating to the Pledge between the pledging Noteholder and such Note Pledgee (which notice need not be joined in
or confirmed by the pledging Noteholder), and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note
Pledgee (or at any time that the pledging Noteholder otherwise directs that such payments be made to Note Pledgee pursuant to a
separate notice) shall be entitled to receive any payments that any Noteholder or Servicer would otherwise be obligated to pay
to the pledging Noteholder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Noteholder hereby
unconditionally and absolutely releases the other Noteholders and any Servicer from any liability to the pledging Noteholder on
account of such other Noteholder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or
such other Noteholder 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 Noteholder (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 Noteholder
and the Note Pledgee and this Agreement. In such event, or if the pledging Noteholder otherwise assigns its interests to the Note
Pledgee, the other Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan
Borrower or any Affiliate thereof 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 its successor and assigns, as the successor to the pledging Noteholder’s rights,
remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Transferee shall assume in writing the obligations
of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note
Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section
19(h) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee shall have notified any
such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 20.     Registration
of Transfer. In connection with any Transfer of a Note (but excluding any Note Pledgee unless and until it realizes on its
Pledge), except for transfer of a participation interest, a transferee shall execute an assignment and assumption agreement as
described in Section 19(c) whereby such transferee assumes all of the obligations of the applicable Noteholder hereunder with respect
to such Note thereafter accruing and agrees to be bound by the terms of this Agreement, including the restriction on Transfers
set forth in Section 19, from and after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not
be required to execute an assignment and assumption agreement in connection with any Transfer of a Note if the obligations are
assumed pursuant to the Securitization Servicing Agreement. No transfer of a Note may be made unless it is registered on the Note
Register, and the Agent shall not recognize any attempted or purported transfer of any Note in violation of the provisions of Section
19 and this Section 20. Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported
transferee. Each Noteholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent and any other
Noteholder against any liability that may result if the transfer is not made in accordance with the provisions of this Agreement.
Upon a Securitization of Note A, the Certificate Administrator shall automatically become and be the Agent.

 

Section 21.     Registration
of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”) for
the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts such
appointment. The names and addresses of the holders of the Notes, the principal amount (and stated interest) of the Notes owing
to each Noteholder and the names and addresses of any

 

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transferee of any Note of which the Agent has received notice, in the form
of a copy of the assignment and assumption agreement referred to in Section 19(c), shall be registered in the Note Register. The
Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes
of this Agreement, except in the case of the Initial Note A Holder, the Initial Note B-1 Holder and the Initial Note B-2 Holder
who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent shall provide such party with the names and
addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, each Noteholder hereby designates such
person as its agent under this Section 21 solely for purposes of maintaining the Note Register.

 

Section 22.     Statement
of Intent. The Agent and each Noteholder intend that the Notes be classified and the arrangement hereby be maintained, in a
manner consistent with rules applicable to a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the
Code that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will not take
any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create a partnership,
joint venture, “taxable mortgage pool” or association taxable as a corporation among the parties.

 

Section 23.     No
Pledge. This Agreement shall not be deemed to represent a pledge of any interest in any Mortgage Loan by the Note A Holder
to the Note B-1 Holder or the Note B-2 Holder, as applicable. Except as otherwise provided in this Agreement and the Servicing
Agreement, neither the Note B-1 Holder nor the Note B-2 Holder shall have any interest in any property taken as security for any
Mortgage Loan, provided, however, that if any such property or the proceeds of any sale, lease or other disposition
thereof shall be received, then the Note B-1 Holder and/or the Note B-2 Holder, as applicable, shall be entitled to receive its
share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

Section 24.     Governing
Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT,
THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES
TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

Section 25.     Submission
To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

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

 

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SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

 

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

 

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

 

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

 

Section 26.     Modifications;
Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties
hereto (other than as set forth in Section 5(c)) and, after Securitization, any modification that materially affects the rights
of the Note A Holder and/or, if Note B-1 is included in a Securitization, the Note B-1 Holder shall be subject to Rating Agency
Confirmation, 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.

 

Section 27.     Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective successors and permitted assigns. Each of the Master Servicer, Special Servicer, and related Trustee is an
intended third-party beneficiary of this Agreement. Except as provided herein, none of the provisions of this Agreement shall be
for the benefit of or enforceable by any Person not a party hereto. Subject to Section 19, each Noteholder may assign or delegate
its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits
of the applicable Noteholder hereunder, including, without limitation, the right to make further assignments.

 

Section 28.     Counterparts.
This Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute one and the
same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document Format (PDF) or
by facsimile transmission shall be effective as delivery of a manually executed original counterpart of this Agreement.

 

Section 29.     Captions.
The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference only and are not intended
to

 

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summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration in the construction
of this Agreement.

 

Section 30.     Severability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions
of this Agreement.

 

Section 31.     Entire
Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter contained
in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

 

Section 32.     Withholding
Taxes.

 

(a)       If
the Note A Holder or the Mortgage Loan Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other
amounts payable to a Noteholder with respect to the Mortgage Loan as a result of such Noteholder constituting a Non-Exempt Person,
the Note A Holder, in its capacity as servicer, shall be entitled to do so with respect to such Note B-1 Holder’s or such
Note B-2 Holder’s interest in such payment (all withheld amounts being deemed paid to such Noteholder), provided that
the Note A Holder shall furnish such Noteholder with a statement setting forth the amount of Taxes withheld, the applicable rate
and other information which may reasonably be requested for purposes of assisting such Noteholder to seek any allowable credits
or deductions for the Taxes so withheld in each jurisdiction in which such Noteholder is subject to tax.

 

(b)       Each
of the Note B-1 Holder and the Note B-2 Holder shall and hereby agrees to indemnify the Note A Holder against and hold the Note
A Holder harmless from and against any Taxes, interest, penalties and reasonable attorneys’ fees and disbursements arising
or resulting from any failure of the Note A Holder (or the Servicer on its behalf) to withhold Taxes from payment made to the Note
B-1 Holder or the Note B-2 Holder in reliance upon any representation, certificate, statement, document or instrument made or provided
by such Note B-1 Holder or Note B-2 Holder to the Note A Holder in connection with the obligation of the Note A Holder to withhold
Taxes from payments made to such Note B-1 Holder or Note B-2 Holder, it being expressly understood and agreed that the Note A Holder
shall be absolutely and unconditionally entitled to accept any such representation, certificate, statement, document or instrument
as being true and correct in all respects and to fully rely thereon without any obligation or responsibility to investigate or
to make any inquiries with respect to the accuracy, veracity, correctness or validity of the same.

 

(c)       Contemporaneously
with the execution of this Agreement and from time to time as reasonably requested by the Note A Holder or Servicer during the
term of this Agreement, each of the Note B-1 Holder and the Note B-2 Holder shall deliver to the Note A Holder or Servicer, as
applicable, evidence satisfactory to the Note A Holder substantiating whether such Noteholder is a Non-Exempt Person and whether
the Note A Holder is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or

 

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otherwise
under this Agreement. Without limiting the effect of the foregoing, (i) if the Note B-1 Holder or the Note B-2 Holder is created
or organized under the laws of the United States, any state thereof or the District of Columbia, it shall satisfy the requirements
of the preceding sentence by furnishing to the Note A Holder an Internal Revenue Service Form W-9 and (ii) if the Note B-1 Holder
or the Note B-2 Holder is not created or organized under the laws of the United States, any state thereof or the District of Columbia,
and if the payment of interest or other amounts by the Mortgage Loan Borrower is treated for United States income tax purposes
as derived in whole or part from sources within the United States, such Noteholder shall satisfy the requirements of the preceding
sentence by furnishing to the Note A Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or
Form W-8BEN or Form W-8BEN-E, as applicable, or successor forms, as may be required from time to time, duly executed by such Noteholder.
The Note A Holder shall not be obligated to make any payment hereunder with respect to the Note B-1 Holder or the Note B-2 Holder
in respect of the Note B-1 or otherwise until the Note B-1 Holder or the Note B-2 Holder shall have furnished to the Note A Holder
the requested forms, certificates, statements or documents.

 

Section 33.     Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than Note B-1 and Note B-2) shall be
held by the Note A Holder (or a custodian acting on behalf of the Note A Holder) on behalf of the registered holders of the Notes.
Notwithstanding anything to the contrary in this Agreement, upon a Securitization of Note A, the originals of all of the Mortgage
Loan Documents (other than Note B-1 and Note B-2) shall be held by the Custodian (as defined in the Securitization Servicing Agreement).

 

Section 34.     Notices.
All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall be in writing and personally
delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same day sends a confirming copy of
such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight delivery service (charges prepaid)
or (iv) certified United States mail, postage prepaid return receipt requested, and addressed to the respective parties at their
addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter inform the other party by
written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.

 

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

 

Section 35.     Broker.
Each Noteholder represents to each other that no broker was responsible for bringing about this transaction.

 

Section 36.     Certain
Matters Affecting the Agent.

 

(a)       The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 20;

 

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

 

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

 

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

 

(e)       The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 20; and

 

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

 

Section 37.     Termination
of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Note A Holder. In the event
that the Agent is terminated pursuant to this Section 37, all of its rights and obligations under this Agreement shall be terminated,
other than any rights or obligations that accrued prior to the date of such termination.

 

The Agent may resign
at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed to be bound by this
Agreement and perform the duties of the Agent hereunder. Natixis, as Initial Agent, may transfer its rights and obligations to
the Servicer, as successor Agent, at any time without the consent of any Noteholder. Natixis, as Initial Agent, shall promptly
and diligently attempt to cause such Servicer to act as successor Agent, and, if such Servicer declines to act in such capacity,
shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. The termination or resignation of
such Servicer, as Servicer under the Servicing Agreement, shall be deemed a termination or resignation of such Servicer as Agent
under this Agreement. Notwithstanding the to the contrary in this Agreement, upon a Securitization of Note A, the Certificate Administrator
shall automatically become and be the Agent.

 

Section 38. Servicing
of the Loan. Pursuant to the Servicing Agreement, the Master Servicer (whose identity may change from time to time as provided
in the Servicing Agreement) will be appointed as the servicer of the Mortgage Loan and the Special Servicer (whose identity may
change from time to time as provided in the Servicing Agreement) will be appointed as the special servicer of the Mortgage Loan,
and the parties agree that the Master Servicer and Special Servicer will service the Mortgage Loan on behalf of each Noteholder
pursuant to the Servicing Agreement and subject to the terms hereof. The Note A Holder shall

 

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not enter into any amendment to any
Servicing Agreement that would materially and adversely affect the rights or interests of the other Noteholders without obtaining
such other Noteholders’ prior written consent which shall not be unreasonably withheld, conditioned or delayed.

 

Section 39. Conflict.
To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement (without regard to any
references in this Agreement to the effect that a given defined term shall have the meaning of such defined term or an
analogous term in the Servicing Agreement), on the other, this Agreement shall control. Resizing. Notwithstanding any
other provision of this Agreement, for so long as Natixis or an affiliate of Natixis (an “Original
Entity”) is the owner of any Note (the “Owned Note”), such Original Entity shall have the right,
subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated
notes or additional notes (in either case, “New Notes”) reallocating the principal and/or interest of the
Owned Note to such New Notes; or severing the Owned Note into one or more further “component” notes in the
aggregate principal amount equal to the then outstanding principal balance of the Owned Note provided that (i) the
aggregate principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal
of the Owned Note prior to such amendments, (ii) immediately after giving effect to such amendment, the weighted average
interest rate of the Notes will be equal to the initial weighted average interest rate of the Notes immediately prior to such
amendment, (iii) such reallocated or component notes shall be automatically subject to the terms of this Agreement, and (iv)
the Original Entity holding the New Notes shall notify the other Noteholders, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts. A New Note may
be structured as a pari passu or senior/subordinate note. If the other Noteholders so request, the Original Entity
holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability
of this Agreement to the New Notes, as so modified. Except for the foregoing reallocation and for modifications pursuant to
the Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent of its holder and
the consent of the other Noteholders. In connection with the foregoing (provided the conditions set forth in (i)
through (iv), as certified by the Original Entity, on which certification the Master Servicer can rely), 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 any or all of the Noteholders, as applicable, solely for the purpose of reflecting
such reallocation of principal and/or interest. If a New Note is created out of Note A, the Initial Note A Holder shall
designate which Note will be the Controlling Noteholder during a Control Appraisal Period.

 

[SIGNATURE PAGE FOLLOWS]

 

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

 

	 	NATIXIS REAL ESTATE CAPITAL LLC, as Initial Note A Holder and Initial Agent
	 	 	 
	 	By:	/s/ Christopher Colon
	 	 	Name: Christopher Colon
	 	 	Title:   Director
	 	 	 
	 	By:	/s/ Michael Magner
	 	 	Name: Michael Magner 
	 	 	Title:   Managing Director

 

Signature
Page to Co-Lender Agreement

 

    

     

    

	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC, as Initial Note B-1 Holder
	 	 	 
	 	By:	/s/ Christopher Colon
	 	 	Name: Christopher Colon
	 	 	Title:   Director
	 	 	 
	 	By:	/s/ Michael Magner
	 	 	Name: Michael Magner 
	 	 	Title:   Managing Director

 

Signature
Page to Co-Lender Agreement

 

    

     

    

	 	 	
	 	NATIXIS REAL ESTATE CAPITAL LLC, as Initial Note B-2 Holder
	 	 	 
	 	By:	/s/ Christopher Colon
	 	 	Name: Christopher Colon
	 	 	Title: Director
	 	 	 
	 	By:	/s/ Michael Magner
	 	 	Name: Michael Magner 
	 	 	Title:   Managing Director

 

Signature
Page to Co-Lender Agreement

 

    

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

A.       Description of
Mortgage Loan:

 

	Mortgage Loan:	Queens Place
	Mortgage Loan Borrower:	MIR Queens Place Associates, LLC, a Delaware limited liability company
	Date of the Mortgage Loan and the Mortgage:	April 12, 2018
	Initial Principal Amount of Mortgage Loan:	$100,000,000
	Location of Mortgaged Property:	Elmhurst, NY
	Initial Maturity Date:	May 5, 2028

 

B.       Description of
Notes:

 

	Initial Note A Principal Balance:	$42,000,000.00
	Initial Note B-1 Principal Balance:	$43,000,000.00
	Initial Note B-2 Principal Balance	$15,000,000.00
	Initial Note A Percentage Interest:	42%
	Initial Note B-1 Percentage Interest:	43%
	Initial Note B-2 Percentage Interest	15%
	Note A Rate:	4.518703%
	Note B-1 Rate:	4.518703%
	Note B-2 Rate	8.00000%

 

    A-1

     

    

 

EXHIBIT B

 

Initial Note A Holder:

NATIXIS REAL ESTATE CAPITAL LLC

Notice Address:

Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

with a copy to:

Natixis Real Estate Capital LLC

Office of Chief Operating Officer

1251 Avenue of the Americas

New York, New York 10020

Facsimile: (212) 891-6288

 

with a copy to:

Natixis North America LLC

Office of the General Counsel

1251 Avenue of the Americas

New York, New York 10020

 

for legal notices, with a copy to:

legal.notices@natixis.com

 

Initial Note B-1 Holder:

NATIXIS REAL ESTATE CAPITAL LLC

Notice Address:

Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

    B-1

     

    

 

with a copy to:

Natixis Real Estate Capital LLC

Office of Chief Operating Officer

1251 Avenue of the Americas

New York, New York 10020

Facsimile: (212) 891-6288

 

with a copy to:

Natixis North America LLC

Office of the General Counsel

1251 Avenue of the Americas

New York, New York 10020

 

for legal notices, with a copy to:

legal.notices@natixis.com

 

Initial Note B-2 Holder:

NATIXIS REAL ESTATE CAPITAL LLC

Notice Address:

Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

with a copy to:

Natixis Real Estate Capital LLC

Office of Chief Operating Officer

1251 Avenue of the Americas

New York, New York 10020

Facsimile: (212) 891-6288

 

with a copy to:

Natixis North America LLC

Office of the General Counsel

1251 Avenue of the Americas

New York, New York 10020

 

    B-2

     

    

 

for legal notices, with a copy to:

 

    B-3

     

    

 

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 

Trawler
Capital Management, LLC

 

    C-1

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