Document:

Exhibit 4.1

 

EXECUTION VERSION

	 

 

BARCLAYS
COMMERCIAL MORTGAGE SECURITIES LLC,

as Depositor

 

MIDLAND
LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,

as Master Servicer

 

MIDLAND
LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,

as Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Certificate Administrator

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Trustee,

 

and

 

PENTALPHA
SURVEILLANCE LLC,

as Operating Advisor and as Asset Representations Reviewer

 

 

POOLING
AND SERVICING AGREEMENT

 

Dated
as of June 1, 2019

 

 

BBCMS
Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3

	 

 

    

     

    

 

TABLE
OF CONTENTS

  

	 	 	Page
	 	 	 
	ARTICLE
    I
	 	 	 
	DEFINITIONS
	 
	Section 1.01	Defined
    Terms	6
	Section 1.02	Certain
    Calculations	115
	 	 	 
	ARTICLE
    II
	 	 	 
	CONVEYANCE
    OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
	 
	Section 2.01	Conveyance
    of Mortgage Loans	116
	Section 2.02	Acceptance
    by Trustee	123
	Section 2.03	Representations,
    Warranties and Covenants of the Depositor; Mortgage Loan Sellers’ Repurchase or Substitution of Mortgage Loans
    for Defects in Mortgage Files and Breaches of Representations and Warranties	128
	Section 2.04	Execution
    of Certificates; Issuance of Lower-Tier Regular Interests	144
	Section 2.05	[RESERVED.]	145
	 	 	 
	ARTICLE
    III
	 	 	 
	ADMINISTRATION
    AND SERVICING OF THE TRUST FUND
	 
	Section 3.01	Administration
    of the Mortgage Loans, the Serviced Companion Loans, and REO Properties	145
	Section 3.02	Collection
    of Mortgage Loan Payments	152
	Section 3.03	Collection
    of Taxes, Assessments and Similar Items; Servicing Accounts	157
	Section 3.04	The
    Collection Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Companion Distribution
    Account, the Interest Reserve Account and the Gain-on-Sale Reserve Account	162
	Section 3.05	Permitted
    Withdrawals from the Collection Account, the Distribution Accounts and the Companion Distribution Account	168
	Section 3.06	Investment
    of Funds in the Collection Account, REO Account and Loss of Value Reserve Fund	178
	Section 3.07	Maintenance
    of Insurance Policies; Errors and Omissions and Fidelity Coverage	180
	Section 3.08	Enforcement
    of Due-on-Sale Clauses; Assumption Agreements	186
	Section 3.09	Realization
    upon Defaulted Loans and Companion Loans	191

 

    -i-

     

    

 

	Section 3.10	Trustee
    and Certificate Administrator to Cooperate; Release of Mortgage Files	194
	Section 3.11	Servicing
    Compensation	196
	Section 3.12	Inspections;
    Collection of Financial Statements; Delivery of Reports	203
	Section 3.13	Access
    to Certain Information	208
	Section 3.14	Title
    to REO Property; REO Account	221
	Section 3.15	Management
    of REO Property	223
	Section 3.16	Sale
    of Defaulted Loans and REO Properties	225
	Section 3.17	Additional
    Obligations of Master Servicer and Special Servicer	232
	Section 3.18	Modifications,
    Waivers, Amendments and Consents	235
	Section 3.19	Transfer
    of Servicing between the Master Servicer and the Special Servicer; Recordkeeping; Asset Status Report	246
	Section 3.20	Sub-Servicing
    Agreements	253
	Section 3.21	Interest
    Reserve Account	257
	Section 3.22	Directing
    Certificateholder and Operating Advisor Contact with Master Servicer and Special Servicer	257
	Section 3.23	Controlling
    Class Certificateholders, Directing Certificateholder; Certain Rights and Powers of Directing Certificateholder	257
	Section 3.24	Intercreditor
    Agreements	261
	Section 3.25	Rating
    Agency Confirmation	264
	Section 3.26	The
    Operating Advisor	266
	Section 3.27	Companion
    Paying Agent	274
	Section 3.28	Serviced
    Companion Noteholder Register	274
	Section 3.29	Certain
    Matters Relating to the Whole Loans	275
	Section 3.30	[RESERVED]	277
	Section 3.31	Resignation
    upon Prohibited Risk Retention Affiliation	277
	Section 3.32	[RESERVED]	278
	Section 3.33	Delivery
    of Excluded Information to the Certificate Administrator	278
	 	 	 
	ARTICLE
    IV
	 	 	 
	DISTRIBUTIONS
    TO CERTIFICATEHOLDERS
	 
	Section 4.01	Distributions	279
	Section 4.02	Distribution
    Date Statements; CREFC® Investor Reporting Packages; Grant of Power of Attorney	289
	Section 4.03	P&I
    Advances	299
	Section 4.04	Allocation
    of Realized Losses	303
	Section 4.05	Appraisal
    Reduction Amounts; Collateral Deficiency Amounts	303
	Section 4.06	[RESERVED]	308
	Section 4.07	Investor
    Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document Request Tool	308
	Section 4.08	Secure
    Data Room	311

 

    -ii-

     

    

 

	ARTICLE
    V
	 	 	 
	THE CERTIFICATES
	 
	Section 5.01	The
    Certificates	312
	Section 5.02	Form
    and Registration	313
	Section 5.03	Registration
    of Transfer and Exchange of Certificates	316
	Section 5.04	Mutilated,
    Destroyed, Lost or Stolen Certificates	326
	Section 5.05	Persons
    Deemed Owners	326
	Section 5.06	Access
    to List of Certificateholders’ Names and Addresses; Special Notices	326
	Section 5.07	Maintenance
    of Office or Agency	327
	Section 5.08	Appointment
    of Certificate Administrator	328
	Section 5.09	[RESERVED]	328
	Section 5.10	Voting
    Procedures	328
	 	 	 
	ARTICLE
    VI
	 	 	 
	THE DEPOSITOR,
    THE MASTER SERVICER, THE SPECIAL SERVICER, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER AND THE
	DIRECTING
    CERTIFICATEHOLDER
	 
	Section 6.01	Representations,
    Warranties and Covenants of the Master Servicer, Special Servicer, the Operating Advisor and the Asset Representations Reviewer	330
	Section 6.02	Liability
    of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicer and the Asset Representations Reviewer	336
	Section 6.03	Merger,
    Consolidation or Conversion of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicer or the Asset
    Representations Reviewer	336
	Section 6.04	Limitation
    on Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations
    Reviewer and Others	338
	Section 6.05	Depositor,
    Master Servicer and Special Servicer Not to Resign	343
	Section 6.06	Rights
    of the Depositor in Respect of the Master Servicer and the Special Servicer	344
	Section 6.07	The
    Master Servicer and the Special Servicer as Certificate Owner	344
	Section 6.08	The
    Directing Certificateholder	344
	Section 6.09	Knowledge
    of Wells Fargo Bank, National Association	351
	 	 	 
	ARTICLE
    VII
	 	 	 
	

 SERVICER TERMINATION EVENTS
	 
	Section 7.01	Servicer
    Termination Events; Master Servicer and Special Servicer Termination	352

 

    -iii-

     

    

 

	Section 7.02	Trustee
    to Act; Appointment of Successor	360
	Section 7.03	Notification
    to Certificateholders	362
	Section 7.04	Waiver
    of Servicer Termination Events	362
	Section 7.05	Trustee
    as Maker of Advances	363
	 	 	 
	ARTICLE
    VIII
	 	 	 
	CONCERNING
    THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR
	 
	Section 8.01	Duties
    of the Trustee and the Certificate Administrator	363
	Section 8.02	Certain
    Matters Affecting the Trustee and the Certificate Administrator	365
	Section 8.03	Trustee
    and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans	367
	Section 8.04	Trustee
    or Certificate Administrator May Own Certificates	367
	Section 8.05	Fees
    and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and Certificate Administrator	368
	Section 8.06	Eligibility
    Requirements for Trustee and Certificate Administrator	369
	Section 8.07	Resignation
    and Removal of the Trustee and Certificate Administrator	370
	Section 8.08	Successor
    Trustee or Certificate Administrator	372
	Section 8.09	Merger
    or Consolidation of Trustee or Certificate Administrator	373
	Section 8.10	Appointment
    of Co-Trustee or Separate Trustee	373
	Section 8.11	Appointment
    of Custodians	374
	Section 8.12	Representations
    and Warranties of the Trustee	374
	Section 8.13	Provision
    of Information to Certificate Administrator, Master Servicer and Special Servicer	376
	Section 8.14	Representations
    and Warranties of the Certificate Administrator	376
	Section 8.15	Compliance
    with the PATRIOT Act	377
	 	 	 
	ARTICLE
    IX
	 	 	 
	TERMINATION
	 
	Section 9.01	Termination
    upon Repurchase or Liquidation of All Mortgage Loans	378
	Section 9.02	Additional
    Termination Requirements	381
	 	 	 
	ARTICLE
    X
	 	 	 
	ADDITIONAL
    REMIC PROVISIONS
	 
	Section 10.01	REMIC
    Administration	382
	Section 10.02	Use
    of Agents	385
	Section 10.03	Depositor,
    Master Servicer and Special Servicer to Cooperate with Certificate Administrator	386
	Section 10.04	Appointment
    of REMIC Administrators	386

 

    -iv-

     

    

 

	ARTICLE
    XI
	 	 	 
	EXCHANGE
    ACT REPORTING AND REGULATION AB COMPLIANCE
	 
	Section 11.01	Intent
    of the Parties; Reasonableness	387
	Section 11.02	Succession;
    Subcontractors	388
	Section 11.03	Filing
    Obligations	390
	Section 11.04	Form
    10-D and Form ABS-EE Filings	391
	Section 11.05	Form
    10-K Filings	395
	Section 11.06	Sarbanes-Oxley
    Certification	398
	Section 11.07	Form
    8-K Filings	399
	Section 11.08	Form
    15 Filing	401
	Section 11.09	Annual
    Compliance Statements	402
	Section 11.10	Annual
    Reports on Assessment of Compliance with Servicing Criteria	403
	Section 11.11	Annual
    Independent Public Accountants’ Attestation Report	405
	Section 11.12	Indemnification	407
	Section 11.13	Amendments	409
	Section 11.14	Regulation
    AB Notices	409
	Section 11.15	Certain
    Matters Relating to the Future Securitization of the Serviced Pari Passu Companion Loans	410
	Section 11.16	Certain
    Matters regarding Significant Obligors	415
	Section 11.17	Impact
    of Cure Period	415
	 	 	 
	ARTICLE
    XII
	 	 	 
	THE ASSET
    REPRESENTATIONS REVIEWER
	 
	Section 12.01	Asset
    Review	415
	Section 12.02	Payment
    of Asset Representations Reviewer Fees and Expenses; Limitation of Liability	421
	Section 12.03	Resignation
    of the Asset Representations Reviewer	422
	Section 12.04	Restrictions
    of the Asset Representations Reviewer	423
	Section 12.05	Termination
    of the Asset Representations Reviewer	423
	 	 	 
	ARTICLE
    XIII
	 	 	 
	MISCELLANEOUS
    PROVISIONS
	 
	Section 13.01	Amendment	426
	Section 13.02	Recordation
    of Agreement; Counterparts	431
	Section 13.03	Limitation
    on Rights of Certificateholders	431
	Section 13.04	Governing
    Law; Submission to Jurisdiction; Waiver of Jury Trial	432
	Section 13.05	Notices	433
	Section 13.06	Severability
    of Provisions	438
	Section 13.07	Grant
    of a Security Interest	438
	Section 13.08	Successors
    and Assigns; Third Party Beneficiaries	439

 

    -v-

     

    

 

	Section 13.09	Article and Section Headings	439
	Section 13.10	Notices to the Rating Agencies	439
	Section 13.11	PNC Bank, National Association	441

 

    -vi-

     

    

 

	EXHIBITS	 
	 	 
	EXHIBIT A-1	Form of Certificate (Other than Class R Certificates)
	EXHIBIT A-2	Form of Class R Certificate
	EXHIBIT B	Mortgage Loan Schedule
	EXHIBIT C	Form of Investment Representation Letter
	EXHIBIT D-1	Form of Transferee Affidavit for Transfers of
    Class R Certificates
	EXHIBIT D-2	Form of Transferor Letter for Transfers of Class
    R Certificates
	EXHIBIT D-3	Form of Transferee Certificate for Transfers
    of Risk Retention Certificates
	EXHIBIT D-4	Form of Transferor Certificate for Transfers
    of Risk Retention Certificates
	EXHIBIT E	Form of Request for Release
	EXHIBIT F-1	Form of ERISA Representation Letter Regarding
    ERISA Restricted Certificates
	EXHIBIT F-2	Form of ERISA Representation Letter Regarding
    Class R Certificates
	EXHIBIT G	Form of Distribution Date Statement
	EXHIBIT H	Form of Omnibus Assignment
	EXHIBIT I	Form of Transfer Certificate for Rule 144A Book-Entry
    Certificate to Temporary Regulation S Book-Entry Certificate during Restricted Period
	EXHIBIT J	Form of Transfer Certificate for Rule 144A Book-Entry
    Certificate to Regulation S Book-Entry Certificate after Restricted Period
	EXHIBIT K	Form of Transfer Certificate for Temporary Regulation
    S Book-Entry Certificate to Rule 144A Book-Entry Certificate during Restricted Period
	EXHIBIT L	Form of Transfer Certificate for Temporary Regulation
    S Book-Entry Certificate to Regulation S Book-Entry Certificate after Restricted Period
	EXHIBIT M	Form of Transfer Certificate for Non-Book Entry
    Certificate to Temporary Regulation S Book-Entry Certificate
	EXHIBIT N	Form of Transfer Certificate for Non-Book Entry
    Certificate to Regulation S Book-Entry Certificate
	EXHIBIT O	Form of Transfer Certificate for Non-Book Entry
    Certificate to Rule 144A Book-Entry Certificate
	EXHIBIT P-1A	Form of Investor Certification for Non-Borrower
    Party (for Persons other than the Directing Certificateholder and/or a Controlling Class Certificateholder)
	EXHIBIT P-1B	Form of Investor Certification for Non-Borrower
    Party (for the Directing Certificateholder and/or a Controlling Class Certificateholder)
	EXHIBIT P-1C	Form of Investor Certification for Borrower
    Party (for Persons other than the Directing Certificateholder and/or a Controlling Class Certificateholder)
	EXHIBIT P-1D	Form of Investor Certification for Borrower
    Party (for the Directing Certificateholder and/or a Controlling Class Certificateholder)
	EXHIBIT P-1E	Form of Notice of Excluded Controlling Class
    Holder
	EXHIBIT P-1F	Form of Notice of [Excluded Loan][Excluded Controlling
    Class Holder] to Certificate Administrator
	EXHIBIT P-1G	Form of Certification of the Directing Certificateholder
	EXHIBIT P-2	Form of Certification for NRSROs
	EXHIBIT P-3	Online Market Data Provider Certification
	EXHIBIT Q	Custodian Certification/Exception Report

 

    -vii-

     

    

 

	EXHIBIT R-1	Form of Power of Attorney
    by Trustee for Master Servicer
	EXHIBIT R-2	Form of Power of Attorney by Trustee for Special
    Servicer
	EXHIBIT S	Initial Serviced Companion Noteholders
	EXHIBIT T	Form of Notice for Non-Serviced Mortgage Loan
	EXHIBIT U	Form of Notice and Certification Regarding Defeasance
    of Mortgage Loan
	EXHIBIT V	Form of Operating Advisor Annual Report
	EXHIBIT W	Form of Notice from Operating Advisor Recommending
    Replacement of Special Servicer
	EXHIBIT X	Form of Confidentiality Agreement
	EXHIBIT Y	Form Certification to be Provided with Form
    10-K
	EXHIBIT Z-1	Form of Certification to be Provided to Depositor
    by Certificate Administrator
	EXHIBIT Z-2	Form of Certification to be Provided to Depositor
    by Master Servicer
	EXHIBIT Z-3	Form of Certification to be Provided to Depositor
    by Special Servicer
	EXHIBIT Z-4	Form of Certification to be Provided to Depositor
    by Trustee
	EXHIBIT Z-5	Form of Certification to be Provided to Depositor
    by Operating Advisor
	EXHIBIT Z-6	Form of Certification to be Provided to Depositor
    by Custodian
	EXHIBIT Z-7	Form of Certification to be Provided to Depositor
    by Asset Representations Reviewer
	EXHIBIT AA	Servicing Criteria to be Addressed in Assessment
    of Compliance
	EXHIBIT BB	Additional Form 10-D Disclosure
	EXHIBIT CC	Additional Form 10-K Disclosure
	EXHIBIT DD	Form 8-K Disclosure Information
	EXHIBIT EE	Additional Disclosure Notification
	EXHIBIT FF	Initial Sub-Servicers
	EXHIBIT GG	Servicing Function Participants
	EXHIBIT HH	Form of Annual Compliance Statement
	EXHIBIT II	Form of Report on Assessment of Compliance with
    Servicing Criteria
	EXHIBIT JJ	CREFC® Payment Information
	EXHIBIT KK	Form of Notice of Additional Indebtedness
	EXHIBIT LL	[RESERVED]
	EXHIBIT MM	Additional Disclosure Notification (Accounts)
	EXHIBIT NN	Form of Notice of Purchase of Controlling Class
    Certificate
	EXHIBIT OO	Form of Asset Review Report by the Asset Representations
    Reviewer
	EXHIBIT PP	Form of Asset Review Report Summary
	EXHIBIT QQ	Asset Review Procedures
	EXHIBIT RR	Form of Certification to Certificate Administrator
    Requesting Access to Secure Data Room
	EXHIBIT SS	Form of Notice of [Additional Delinquent Loan][Cessation
    of Delinquent Loan][Cessation of Asset Review Trigger]
	EXHIBIT TT	Form of Certificate Administrator Receipt in
    Respect of the Risk Retention Certificates
	 	 
	SCHEDULES	 
	 	 
	SCHEDULE 1	Mortgage Loans With Additional Debt
	SCHEDULE 2	Class A-SB Planned Principal Balance Schedule

 

    -viii-

     

    

 

	SCHEDULE
    3	Designated
    Escrows and Reserves

 

    -ix-

     

    

 

This
Pooling and Servicing Agreement is dated and effective as of June 1, 2019, between Barclays Commercial Mortgage Securities LLC,
as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and as Asset Representations Reviewer.

 

PRELIMINARY
STATEMENT:

 

The
Depositor intends to sell commercial mortgage pass-through certificates (collectively, the “Certificates”),
to be issued hereunder in multiple classes (each, a “Class”), which in the aggregate will evidence the entire
beneficial ownership interest in the Trust to be created hereunder, the primary assets of which will be a pool of commercial mortgage
loans. As provided herein, the Certificate Administrator shall elect or shall cause an election to be made to treat designated
portions of the Trust for federal income tax purposes as two separate real estate mortgage investment conduits (the “Upper-Tier
REMIC” and the “Lower-Tier REMIC”, and each a “Trust REMIC” as described herein).

 

The
REMIC structure set forth in this Preliminary Statement is intended to cause all of the cash flow from the Mortgage Loans to flow
through to the Upper-Tier REMIC as cash flow on REMIC regular interests, without creating any shortfall, actual or potential (other
than for credit losses), to any REMIC regular interest issued hereunder. To the extent that any party hereto believes the structure
to diverge from such intention (without implying any duty of any such party to identify any such ambiguity), the party or parties
identifying the subject defect or ambiguity in this Agreement shall notify the other parties hereto, whereupon the Depositor,
the Certificate Administrator and the Tax Administrator shall use commercially reasonable efforts to rectify or resolve the subject
defect or ambiguity to accomplish the intended result without Certificateholder approval (but with guidance of counsel), including,
to the extent necessary, making any amendments in accordance with Section 13.01(a) of this Agreement, but subject to any
conditions in Section 13.01. The other parties hereto agree to reasonably cooperate with the Depositor, the Certificate
Administrator and the Tax Administrator in connection with any amendment to this Agreement in furtherance of the foregoing.

 

The
Depositor intends to sell the Certificates to the Underwriters and the Initial Purchasers.

 

LOWER-TIER
REMIC

 

The
Lower-Tier REMIC will hold the Mortgage Loans and will issue the Class LA1, Class LA2, Class LA3, Class LA4, Class LASB, Class
LAS, Class LB, Class LC, Class LD, Class LERR, Class LFRR, Class LGRR, Class LHRR and Class LJRR Uncertificated Interests (the
“Lower-Tier Regular Interests”), which will evidence the “regular interests” in the Lower-Tier
REMIC created hereunder. The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class
of “residual interests” in the Lower-Tier REMIC for purposes of the REMIC Provisions and is represented by the
Class R Certificates.

 

The
following table sets forth the Original Lower-Tier Principal Amounts and per annum rates of interest for the Lower-Tier
Regular Interests and the Class LR Interest:

 

    

     

    

 

	Class
    Designation	 	Interest
    Rate	 	Original
    Lower-Tier Principal Amount
	Class LA1	 	(1)	 	$16,654,000
	Class LA2	 	(1)	 	$30,000,000
	Class LA3	 	(1)	 	$266,000,000
	Class LA4	 	(1)	 	$307,000,000
	Class
    LASB	 	(1)	 	$36,000,000
	Class
    LAS	 	(1)	 	$87,811,000
	Class
    LB	 	(1)	 	$39,808,000
	Class
    LC	 	(1)	 	$39,807,000
	Class
    LD	 	(1)	 	$18,349,000
	Class
    LERR	 	(1)	 	$27,313,000
	Class
    LFRR	 	(1)	 	$11,708,000
	Class
    LGRR	 	(1)	 	$10,537,000
	Class
    LHRR	 	(1)	 	$9,367,000
	Class
    LJRR	 	(1)	 	$36,295,542
	Class
    LR	 	None(2)	 	None

  

 

		(1)	The
                                         interest rate for each Class of Lower-Tier Regular Interests on any Distribution
                                         Date will be the Weighted Average Net Mortgage Rate for such Distribution Date.

 

		(2)	The
                                         Class LR Interest (evidenced by the Class R Certificates) will not have a Certificate
                                         Balance or Notional Amount, will not bear interest and will not be entitled to distributions
                                         of Prepayment Premiums or Yield Maintenance Charges. Any Available Funds remaining in
                                         the Lower-Tier REMIC Distribution Account after distributing the Lower-Tier Distribution
                                         Amount will be deemed distributed to the Class LR Interest and shall be payable to the
                                         Holders of the Class R Certificates.

 

UPPER-TIER
REMIC

 

The
Upper-Tier REMIC will hold the Lower-Tier Regular Interests and will issue the Class A-1, Class A-2, Class A-3,
Class A-4, Class A-SB, Class X-A, Class X-B, Class A-S, Class B, Class C, Class X-D, Class D, Class E-RR,
Class F-RR, Class G-RR, Class H-RR and Class J-RR regular interests. Each such regular interest will be represented by, and have
the same Pass-Through Rate and Certificate Balance or Notional Amounts as, the Class of Certificates bearing the same Class designation
as set forth in the chart below. The Upper-Tier REMIC shall also issue the uncertificated Class UR Interest, which is the
sole Class of “residual interests” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented
by the Class R Certificates.

 

THE
CERTIFICATES

 

The
following table (and related paragraphs) sets forth the designation, the initial pass-through rate and the aggregate initial
principal amount (the “Original Certificate Balance”) or Notional Amount (the “Original Notional Amount”),
as applicable, for each Class of Certificates:

 

    -2-

     

    

 

	Class
    of Certificates	 	Approximate
    Initial Pass-Through Rate	 	Original
    Certificate Balance or Notional Amount
	Class
    A-1 Certificates	 	2.5810%	 	$16,654,000
	Class
    A-2 Certificates	 	3.4380%	 	$30,000,000
	Class
    A-3 Certificates	 	3.3190%	 	$266,000,000
	Class
    A-4 Certificates	 	3.5830%	 	$307,000,000
	Class
    A-SB Certificates	 	3.4580%	 	$36,000,000
	Class
    X-A Certificates	 	1.3490%(1)	 	$655,654,000(2)
	Class
    X-B Certificates	 	0.7758%(1)	 	$167,426,000(2)
	Class
    X-D Certificates	 	1.7859%(1)	 	$18,349,000(2)
	Class A-S Certificates	 	3.8950%	 	$87,811,000
	Class
    B Certificates	 	4.0960%	 	$39,808,000
	Class
    C Certificates	 	4.1780%	 	$39,807,000
	Class
    D Certificates	 	3.0000%	 	$18,349,000
	Class
    E-RR Certificates	 	4.7859%	 	$27,313,000
	Class
    F-RR Certificates	 	4.7859%	 	$11,708,000
	Class
    G-RR Certificates	 	4.7859%	 	$10,537,000
	Class
    H-RR Certificates	 	4.7859%	 	$9,367,000
	Class
    J-RR Certificates	 	4.7859%	 	$36,295,542
	Class
    R Certificates	 	None(3)	 	N/A

 

 

		(1)	The
                                         Pass-Through Rate for the Class X-A, Class X-B and Class X-D Certificates
                                         will be calculated in accordance with the definition of “Class X-A Pass-Through
                                         Rate”, “Class X-B Pass-Through Rate” and “Class X-D Pass-Through
                                         Rate”, respectively.

 

		(2)	None
                                         of the Class X-A, Class X-B and Class X-D Certificates will have a Certificate
                                         Balance; rather, such Classes will accrue interest as provided herein on the Class X-A
                                         Notional Amount, the Class X-B Notional Amount and the Class X-D Notional Amount,
                                         as applicable.

 

		(3)	The
                                         Class R Certificates will not have a Certificate Balance or a Notional Amount, bear interest
                                         or be entitled to distributions of Prepayment Premiums or Yield Maintenance Charges.
                                         Any Available Funds remaining in the Upper-Tier REMIC Distribution Account, after all
                                         required distributions under this Agreement have been made to each Class of Regular Certificates
                                         will be deemed distributed to the Class UR Interest and shall be payable to the Holders
                                         of the Class R Certificates.

 

As
of the close of business on the Cut-off Date, the Mortgage Loans had an aggregate principal balance, after application of
all payments of principal due on or before such date, whether or not received, equal to $936,649,542.

 

WHOLE
LOANS

 

The
Trust includes several Mortgage Loans each of which is part of a whole loan structure secured by the same Mortgaged Property.
The Whole Loans relating to the Trust are the whole loans secured by the Mortgaged Properties identified in the following table.
The table also lists, for each Whole Loan, the type of the Whole Loan, the Non-Serviced PSA (if any), and the type of Companion
Loan(s).

 

    -3-

     

    

 

	Whole
    Loan	Type	Non-Serviced
    PSA	Companion
    Loan Name	Companion
    Loan Type
	SSTII
    Self Storage Portfolio II	Serviced	N/A	Note
                                         A-2

        Note
        A-3

        Note
        A-4

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

	Vanguard
    Portfolio	Serviced
    	N/A	Note
                                         A-3

        Note
        A-4

        Note
        A-5

        Note
        A-6

            Note
        B

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

	GNL
    Industrial Portfolio	Servicing
    Shift 	N/A	Note
    A-1	Pari
    Passu
	SWVP
    Portfolio	Serviced	N/A	Note
                                         A-2

        Note
        A-4

        Note
        A-5

        Note
        A-6

        Note
        A-7

        Note
        A-8

        Note
        A-9

        Note
        A-10

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	Inland
    Devon Self Storage Portfolio	Serviced	N/A	Note
    A-2	Pari
    Passu
	NEMA
    San Francisco	Non-Serviced	NCMS
    2019-NEMA	Note
                                         A-1

        Note
        A-3

        Note
        A-5

        Note
        A-B

        Note
        B-1

        Note
        B-2

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

        Subordinate

        Subordinate

	787
    Eleventh Avenue	Non-Serviced	SGCMS
    2019-787E	Note
                                         A-1-A

        Note
        A-1-B

        Note
        A-1-D

        Note
        A-2

            Note
        B

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

        Subordinate

	The
    Colonnade Office Complex	Non-Serviced	UBS
    2019-C16	Note
                                         A-1

        Note
        A-2-1

        Note
        A-2-2

        Note
        A-2-3

        Note
        A-4

        Note
        A-5

        Note
        A-7

        Note
        B-1

        Note
        B-2

        Note
        B-3

        Note
        B-4

        Note
        B-5

        Note
        B-6

           Note
        C

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

        Subordinate

        Subordinate

        Subordinate

        Subordinate

        Subordinate

        Subordinate

	Wolverine
    Portfolio	Serviced	N/A	Note
                                         A-1

        Note
        A-2

        Note
        A-5

        Note
        A-9

        Note
        A-10

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	Kings
    Mountain Center	Serviced	N/A	Note
    A-2	Pari
    Passu
	ExchangeRight
    Net Lease Portfolio 26	Servicing
    Shift	N/A	Note
                                         A-1

        Note
        A-3

	Pari
                                         Passu

        Pari
        Passu

	Patuxent
    Crossing	Serviced	N/A	Note
    A-2	Pari
    Passu
	The
    Block Northway	Serviced	N/A	Note
                                         A-1-1

        Note
        A-2

        Note
        A-4

        Note
        A-5

        Note
        A-7-2

        Note
        A-8

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	Goodyear
    Portfolio	Non-Serviced	WFCM
    2019-C50	Note
                                         A-1

        Note
        A-3

        Note A-4

        Note
        A-5

            Note
        B

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

 

    -4-

     

    

 

	Whole
    Loan	Type	Non-Serviced
    PSA	Companion
    Loan Name	Companion
    Loan Type

	ExchangeRight
    Net Leased Portfolio 24	Non-Serviced	CSAIL
    2019-C15	Note
                                         A-1

        Note
        A-2

        Note
        A-4

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

	Heartland
    Dental Medical Office Portfolio	Non-Serviced	WFCM
    2019-C50	Note
                                         A-1

        Note
        A-2-I

        Note
        A-3

        Note
        A-4

        Note
        A-5

        Note
        A-6

        Note
        A-7

        Note
        A-8

        Note
        A-10

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	ILPT
    Hawaii Portfolio	Non-Serviced
    	ILPT
    Trust 2019-SURF	Note
                                         A-1

        Note
        A-2

        Note
        A-3

        Note
        A-4

        Note
        A-5-1

        Note
        A-5-2

        Note
        A-5-3

        Note
        A-5-4

        Note
        A-6-1

        Note
        A-6-2

        Note
        A-6-3

        Note
        A-7-1

        Note
        A-7-2

        Note
        A-8-1

        Note
        A-8-2

        Note
        A-9

        Note
        A-11

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	Southern
    Motion Industrial Portfolio	Non-Serviced	UBS
    2019-C16	Note
                                         A-1

        Note
        A-2

        Note
        A-3

        Note
        A-6

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

	Christiana
    Mall	Non-Serviced
    	BBCMS
    2018-CHRS	Note
                                         A-1-A

        Note
        A-1-B

        Note
        A-1-C

        Note
        A-1-D

        Note
        A-1-E

        Note
        A-2-A

        Note
        A-2-B

        Note
        A-2-C

        Note
        A-2-D

        Note
        A-3-A

        Note
        A-3-B

        Note
        A-3-C

        Note
        B-1

        Note
        B-2

        Note
        B-3

	Pari
                                         Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Pari
        Passu

        Subordinate

        Subordinate

        Subordinate

 

With
respect to any Whole Loan, each of the Mortgage Loan and the Pari Passu Companion Loan(s) are pari passu with each other
to the extent provided in the related Intercreditor Agreement, and any AB Subordinate Companion Loan is generally subordinate
to the related Mortgage Loan and any Pari Passu Companion Loan(s) to the extent provided in the related Intercreditor Agreement.
Each Serviced Whole Loan will be serviced and administered in accordance with this Agreement and the related Intercreditor Agreement.
Each Non-Serviced Whole Loan will be serviced and administered in accordance with the related Non-Serviced PSA and the related
Intercreditor Agreement.

 

The
Companion Loans are not part of the Trust Fund, but are each secured by the applicable Mortgage that secures the related Mortgage
Loan that is part of the Trust Fund. Amounts attributable to any Companion Loan will not be part of the Trust Fund, and (except
to

 

    -5-

     

    

 

the
extent that such amounts are payable or reimbursable to any party to this Agreement) will be owned by the related Companion Holders.

 

In
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.01        Defined Terms. Whenever used in this Agreement, including in the Preliminary
Statement, the following capitalized terms, unless the context otherwise requires, shall have the meanings specified in this Article.

 

“10-K
Filing Deadline”: As defined in Section 11.05(a).

 

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

 

“15Ga-1
Repurchase Request”: As defined in Section 2.02(g).

 

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

 

“17g-5
Information Provider’s Website”: The 17g-5 Information Provider’s Internet website, which shall initially
be located within the Certificate Administrator’s Website (initially “www.ctslink.com”), under the “NRSRO”
tab on the page relating to this transaction.

 

“30/360
Mortgage Loans”: The Mortgage Loans indicated as such in the Mortgage Loan Schedule.

 

“AB
Control Appraisal Period”: With respect to a Serviced AB Whole Loan, a “Control Appraisal Period” or equivalent
term under the related AB Intercreditor Agreement.

 

“AB
Intercreditor Agreement”: Any Intercreditor Agreement by and among the holder of an AB Subordinate Companion Loan and
the holder of the related Mortgage Loan and any holders of any related Pari Passu Companion Loans, relating to the relative rights
of such holders of the related AB Whole Loan, as the same may be amended in accordance with the terms thereof.

 

“AB
Modified Loan”: Any Corrected Loan (1) that became a Corrected Loan (which includes for purposes of this definition
any Non-Serviced Mortgage Loan that became a “corrected loan” (or any term substantially similar thereto) pursuant
to the related Non-Serviced PSA) due to a modification thereto that resulted in the creation of an A/B note structure (or
similar structure) and as to which the new junior note(s) did not previously exist or the principal amount of the new junior note(s)
was previously part of either an A note held by the Trust or the original unmodified Mortgage Loan and (2) as to which an
Appraisal Reduction Amount is not in effect.

 

“AB
Mortgage Loan”: A senior “A note” that is part of an AB Whole Loan and which is a Mortgage Loan that is
part of the Trust Fund.

 

    -6-

     

    

 

“AB
Mortgaged Property”: The Mortgaged Property which secures the related AB Whole Loan.

 

“AB
Subordinate Companion Loan”: With respect to any AB Whole Loan, the related companion loan evidenced by the related
promissory note made by the related Mortgagor and secured by the Mortgage on the related AB Mortgaged Property, which is not included
in the Trust and which is subordinate in right of payment to the related AB Mortgage Loan to the extent set forth in the related
Mortgage Loan documents and as provided in the related Intercreditor Agreement. For the avoidance of doubt, the Vanguard Portfolio
Subordinate Companion Loans, the NEMA San Francisco Subordinate Companion Loans, the 787 Eleventh Avenue Subordinate Companion
Loans, The Colonnade Office Complex Subordinate Companion Loans, the Goodyear Portfolio Subordinate Companion Loans and the Christiana
Mall Subordinate Companion Loan are the only AB Subordinate Companion Loans related to the Trust as of the Closing Date.

 

“AB
Whole Loan”: A Whole Loan that consists of a Mortgage Loan and a related AB Subordinate Companion Loan and may include
one or more Pari Passu Companion Loans. The AB Whole Loans related to the Trust as of the Closing Date are the Whole Loans described
in the table under the heading “Whole Loans” in the Preliminary Statement hereto as having a “Companion Loan
Type” of “Pari Passu and Subordinate” or “Subordinate”. For the avoidance of doubt, the Vanguard
Portfolio Whole Loan, the NEMA San Francisco Whole Loan, the 787 Eleventh Avenue Whole Loan, The Colonnade Office Complex Whole
Loan, the Goodyear Portfolio Whole Loan and the Christiana Mall Whole Loan are the only AB Whole Loans related to the Trust as
of the Closing Date.

 

“AB
Whole Loan Controlling Holder”: With respect to a Serviced AB Whole Loan, the “Controlling Holder”, “Controlling
Noteholder” or similarly defined party identified in the related AB Intercreditor Agreement.

 

“Accelerated
Mezzanine Loan Lender”: A mezzanine lender under a mezzanine loan that has been accelerated or as to which foreclosure
or enforcement proceedings have been commenced against the equity collateral pledged to secure such mezzanine loan.

 

“Acceptable
Insurance Default”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole
Loan, a default under the related Mortgage Loan documents arising by reason of (i) any failure on the part of the related
Mortgagor to maintain with respect to the related Mortgaged Property specific insurance coverage with respect to, or an all-risk
casualty insurance policy that does not specifically exclude, terrorist or similar acts, and/or (ii) any failure on the part
of the related Mortgagor to maintain with respect to the related Mortgaged Property insurance coverage with respect to damages
or casualties caused by terrorist or similar acts upon terms not materially less favorable than those in place as of the Closing
Date, in each case as to which default the Master Servicer and the Special Servicer may forbear taking any enforcement action,
provided that the Master Servicer (with respect to a Non-Specially Serviced Loan) or the Special Servicer (with respect
to a Specially Serviced Loan) has determined (i) prior to the occurrence and continuance of a Control Termination Event, with
the consent of the Directing Certificateholder and (ii) after a Control Termination Event has occurred and is continuing, but
prior to the occurrence and continuance of a Consultation Termination Event, after non-binding consultation with the Directing
Certificateholder (in each case, other than with respect

 

    -7-

     

    

 

to
any Mortgage Loan that is an Excluded Loan as to such party) (or, in each case, with respect to a Serviced AB Whole Loan, and
prior to any related AB Control Appraisal Period, with the consent of the related Serviced AB Whole Loan Controlling Holder to
the extent required under the related Intercreditor Agreement), in its reasonable judgment, based on inquiry consistent with the
Servicing Standard, that either (a) such insurance is not available at commercially reasonable rates and that such hazards
are not at the time commonly insured against for properties similar to the related Mortgaged Property and located in or around
the region in which such related Mortgaged Property is located, or (b) such insurance is not available at any rate; provided,
however, that the Directing Certificateholder (or, with respect to a Serviced AB Whole Loan, the Serviced AB Whole Loan
Controlling Holder prior to any AB Control Appraisal Period to the extent required under the related Intercreditor Agreement)
will not have more than thirty (30) days to respond to the Master Servicer’s or the Special Servicer’s, as applicable,
request for such consent or consultation, as applicable; provided, further, that upon the Master Servicer’s
or the Special Servicer’s, as applicable, determination consistent with the Servicing Standard, that exigent circumstances
do not allow the Master Servicer or the Special Servicer, as applicable, to consult with the Directing Certificateholder or any
applicable Serviced AB Whole Loan Controlling Holder, as applicable, the Master Servicer or the Special Servicer, as applicable,
is not required to do so. The Master Servicer (at its own expense) and the Special Servicer (at the expense of the Trust Fund)
shall be entitled to rely on insurance consultants in making the determinations described above.

 

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

 

“Activity”:
Solely as used with respect to Section 4.02(g), any review, analysis, comfort, verification, manipulation, reorganization,
restructuring, recompilation, recomposition, revision or modification of any information or data.

 

“Actual/360
Mortgage Loans”: The Mortgage Loans, to the extent indicated as such in the Mortgage Loan Schedule.

 

“Additional
Debt”: With respect to any Mortgage Loan, any debt owed by the related Mortgagor to a party other than the lender under
such Mortgage Loan that is secured by the related Mortgaged Property as of the Closing Date as set forth on Schedule 1
hereto, as increased or decreased from time to time pursuant to the terms of the related subordinate or pari passu
loan documents (including any Intercreditor Agreement or subordination agreement).

 

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

 

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

 

“Additional
Form 10-D Disclosure”: As defined in Section 11.04(a).

 

“Additional
Form 10-K Disclosure”: As defined in Section 11.05(a).

 

    -8-

     

    

 

“Additional
Servicer”: Each Affiliate of the Master Servicer, the Special Servicer or any Mortgage Loan Seller that services any
of the Mortgage Loans and each Person who is not an Affiliate of the Master Servicer, other than the Special Servicer, who services
10% or more of the Mortgage Loans by unpaid principal balance as of any date of determination pursuant to Article XI.

 

“Administrative
Cost Rate”: As of any date of determination and with respect to each Mortgage Loan, a per annum rate equal to
the sum of the Servicing Fee Rate, the Certificate Administrator Fee Rate (which fee rate accounts for the Trustee Fee), the Operating
Advisor Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License
Fee Rate and, in the case of each Non-Serviced Mortgage Loan, the related Non-Serviced Primary Servicing Fee Rate.

 

“Advance”:
Any P&I Advance or Servicing Advance.

 

“Adverse
REMIC Event”: As defined in Section 10.01(f).

 

“Affected
Party”: As defined in Section 7.01(b).

 

“Affected
Reporting Party”: As defined in Section 11.12.

 

“Affiliate”:
With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.

 

“Affirmative
Asset Review Vote”: As defined in Section 12.01(a).

 

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

 

“Applicable
Laws”: As defined in Section 8.15.

 

“Applicable
State and Local Tax Law”: For purposes hereof, the Applicable State and Local Tax Law shall be (a) the tax laws
of the State of New York; and (b) such other state or local tax laws whose applicability shall have been brought to the attention
of the Trustee and the Certificate Administrator by either (i) an Opinion of Counsel delivered to it, or (ii) written
notice from the appropriate taxing authority as to the applicability of such state or local tax laws.

 

“Appraisal”:
An appraisal prepared by an appraiser who is licensed or certified to prepare appraisals in the state where the Mortgaged Property
is located and which satisfies the Interagency Appraisal and Evaluation Guidelines jointly issued by The Office of the Comptroller
of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC),
and the National Credit Union Administration (NCUA) relating to real estate appraisals and evaluations used to support real
estate-related

 

    -9-

     

    

 

financial
transactions, as amended from time to time. Any Appraisal ordered by the Master Servicer or Special Servicer shall be performed
by an Independent MAI-designated appraiser.

 

“Appraisal
Reduction Amount”: For any Distribution Date and for any Mortgage Loan (other than a Non-Serviced Mortgage Loan),
Serviced Companion Loan, or Serviced Whole Loan as to which any Appraisal Reduction Event has occurred, will be an amount, calculated
by the Special Servicer (prior to the occurrence and continuance of a Consultation Termination Event and only with respect to
any Mortgage Loan or Whole Loan other than an Excluded Loan) in consultation with the Directing Certificateholder, and, after
the occurrence and during the continuance of a Control Termination Event, in consultation with the Directing Certificateholder
(only with respect to a Mortgage Loan or Whole Loan other than an Excluded Loan) and the Operating Advisor and, after the occurrence
and during the continuance of a Consultation Termination Event, in consultation with the Operating Advisor, as of the first Determination
Date that is at least ten (10) Business Days following the date on which the Special Servicer receives an Appraisal (together
with information requested by the Special Servicer from the Master Servicer in accordance with this Agreement that is in the possession
of the Master Servicer and reasonably necessary to calculate the Appraisal Reduction Amount) or conducts a valuation described
below, equal to the excess of (a) the Stated Principal Balance of that Mortgage Loan or the Stated Principal Balance of the
applicable Serviced Whole Loan over (b) the excess of (i) the sum of (A) 90% of the Appraised Value of the related
Mortgaged Property as determined (1) by one or more Appraisals obtained by the Special Servicer with respect to any Mortgage
Loan (together with any other Mortgage Loan cross-collateralized with such Mortgage Loan) or Serviced Whole Loan, as the case
may be, with an outstanding principal balance equal to or in excess of $2,000,000 (the costs of which shall be paid by the Master
Servicer as an Advance) or (2) by an internal valuation performed by the Special Servicer (or at the Special Servicer’s
election, by one or more MAI appraisals obtained by the Special Servicer) with respect to any Mortgage Loan (together with any
other Mortgage Loan cross-collateralized with such Mortgage Loan) or Serviced Whole Loan, as the case may be, with an outstanding
principal balance less than $2,000,000, minus, with respect to any Appraisals, such downward adjustments as the Special
Servicer may make (without implying any obligation to do so) based upon its review of the Appraisal and any other information
it deems relevant; and (B) all escrows, letters of credit and reserves in respect of such Mortgage Loan or Serviced Whole
Loan, as applicable, as of the date of calculation over (ii) the sum of, as of the Due Date occurring in the month of the
date of determination, (A) to the extent not previously advanced by the Master Servicer or the Trustee, all unpaid interest
due on such Mortgage Loan or Serviced Whole Loan, as the case may be, at a per annum rate equal to its Mortgage Rate (and,
with respect to any Serviced AB Whole Loan, any accrued and unpaid interest on the related AB Subordinate Companion Loan, as applicable),
(B) all P&I Advances on the related Mortgage Loan and all Servicing Advances on the related Mortgage Loan or Serviced
Whole Loan, as applicable, not reimbursed from proceeds of such Mortgage Loan or Serviced Whole Loan, as applicable, and interest
thereon at the Reimbursement Rate in respect of such Mortgage Loan or Serviced Whole Loan, as applicable, and (C) all currently
due and unpaid real estate taxes, assessments, insurance premiums, ground rents, unpaid Special Servicing Fees and all other amounts
due and unpaid (including any capitalized interest whether or not then due and payable) with respect to such Mortgage Loan or
Serviced Whole Loan, as the case may be (which taxes, premiums, ground rents and other amounts have not been the subject of an
Advance by the Master Servicer, the Special Servicer or the Trustee, as applicable); provided, however, that without
limiting the Special Servicer’s obligation to order and obtain such Appraisal or perform

 

    -10-

     

    

 

such
valuation, if the Special Servicer has not obtained an Appraisal or performed such valuation, as applicable, referred to above
within sixty (60) days of the Appraisal Reduction Event (or with respect to the Appraisal Reduction Events set forth in clauses (i)
and (vi) of the definition of Appraisal Reduction Event, within one hundred twenty (120) days (in the case of clause (i))
or ninety (90) days or one hundred twenty (120) days, as applicable (in case of clause (vi)) after the initial
delinquency for the related Appraisal Reduction Event), the Appraisal Reduction Amount shall be deemed to be an amount equal to
25% of the current Stated Principal Balance of the related Mortgage Loan or Serviced Whole Loan, as applicable, until such time
as such appraisal or valuation referred to above is received by the Special Servicer and the Appraisal Reduction Amount is calculated
as of the first Determination Date that is at least ten (10) Business Days thereafter. Within sixty (60) days after
the Appraisal Reduction Event, the Special Servicer shall order and use reasonable efforts to receive an Appraisal (the cost of
which shall be paid by the Master Servicer as a Servicing Advance); provided, further, however, that with
respect to an Appraisal Reduction Event as set forth in clause (i) of the definition of Appraisal Reduction Event, the Special
Servicer shall order and use reasonable efforts to receive such Appraisal within the one hundred twenty (120) day period
set forth in such clause (i), and with respect to an Appraisal Reduction Event as set forth in clause (vi) of the definition
of Appraisal Reduction Event, the Special Servicer shall order and use reasonable efforts to receive such Appraisal within the
ninety (90) day period or one hundred twenty (120) day period, as applicable, set forth in such clause (vi); provided,
further, however, that in no event shall the Special Servicer be required to order any such Appraisal prior to the
conclusion of such sixty (60), ninety (90), or one hundred twenty (120) day period, as applicable, and in each case, the
related Appraisal shall be promptly delivered in electronic format by the Special Servicer to the Master Servicer, the Operating
Advisor, the Directing Certificateholder (but only prior to the occurrence and continuance of a Consultation Termination Event),
the Certificate Administrator and the Trustee. In connection with any Appraisal Reduction Amount, the Master Servicer shall provide
the Special Servicer with the information as set forth in Section 4.05(c) within four (4) Business Days of its receipt
of any such request. The Master Servicer shall not calculate Appraisal Reduction Amounts.

 

With
respect to any Appraisal Reduction Amount calculated for purposes of determining the existence and identity of the Controlling
Class pursuant to Section 4.05(a), the Appraised Value for the related Mortgaged Property determined in connection with
clause (b)(i)(A)(1) or clause (b)(i)(A)(2) of the first paragraph of this definition shall be determined on an “as-is”
basis.

 

Notwithstanding
anything herein to the contrary, the aggregate Appraisal Reduction Amount related to a Mortgage Loan or the related REO Property
will be reduced to zero as of the date on which Mortgage Loan is paid in full, liquidated, repurchased or otherwise removed from
the Trust or as otherwise set forth in Section 4.05(d).

 

Any
Appraisal Reduction Amount in respect of a Non-Serviced Whole Loan and allocable to the related Non-Serviced Mortgage Loan
shall be calculated by the applicable party under and in accordance with and pursuant to the terms of the applicable Non-Serviced
PSA, and the Master Servicer, the Special Servicer and the Certificate Administrator are entitled to conclusively rely on such
calculation.

 

    -11-

     

    

 

“Appraisal
Reduction Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced Companion
Loan, and Serviced Whole Loan, the earliest of (i) one hundred twenty (120) days after an uncured delinquency (without
regard to the application of any Grace Period), other than any uncured delinquency in respect of a Balloon Payment, occurs in
respect of such Mortgage Loan or Serviced Companion Loan or Serviced Whole Loan, as applicable, (ii) the date on which a
reduction in the amount of Periodic Payments on such Mortgage Loan, Serviced Companion Loan or Serviced Whole Loan, as applicable,
or a change in any other material economic term of such Mortgage Loan or Serviced Companion Loan or Serviced Whole Loan, as applicable
(other than an extension of the Maturity Date), becomes effective as a result of a modification of such Mortgage Loan or Serviced
Companion Loan or Serviced Whole Loan, as applicable, by the Special Servicer, (iii) thirty (30) days after the date
on which a receiver has been appointed for the Mortgaged Property, (iv) thirty (30) days after the date on which a Mortgagor
or the tenant at a single tenant property declares bankruptcy (and the bankruptcy petition is not otherwise dismissed within such
time), (v) sixty (60) days after the date on which an involuntary petition of bankruptcy is filed with respect to a
Mortgagor if not dismissed within such time, (vi) ninety (90) days after an uncured delinquency occurs in respect of
a Balloon Payment with respect to such Mortgage Loan or Serviced Companion Loan or Serviced Whole Loan, as applicable, except
where a refinancing is anticipated within one hundred twenty (120) days after the Maturity Date of the Mortgage Loan or Serviced
Companion Loan or Serviced Whole Loan, as applicable, in which case one hundred twenty (120) days after such uncured delinquency,
and (vii) immediately after such Mortgage Loan or Serviced Companion Loan or Serviced Whole Loan, as applicable, becomes
an REO Loan; provided that the thirty (30) day period referenced in clause (iii) and clause (iv) shall not
apply if the related Mortgage Loan is a Specially Serviced Loan; provided, further, however, that an Appraisal
Reduction Event shall not occur at any time when the aggregate Certificate Balances of all Classes of Subordinate Certificates
have been reduced to zero. The Special Servicer shall notify the Master Servicer, the Directing Certificateholder, and the Operating
Advisor, or the Master Servicer shall notify the Special Servicer and the Operating Advisor, as applicable, promptly upon such
Person having notice or knowledge of the occurrence of any of the foregoing events. The obligation to obtain an Appraisal following
the occurrence of an Appraisal Reduction Event shall be subject to the provisions of Section 4.05.

 

“Appraisal
Review Period”: As defined in Section 4.05(b)(ii).

 

“Appraised-Out
Class”: As defined in Section 4.05(b)(i).

 

“Appraised
Value”: (i) With respect to any Mortgaged Property (other than a Non-Serviced Mortgaged Property), the appraised
value thereof as determined by the most recent Appraisal of the Mortgaged Property securing the related Mortgage Loan, Serviced
Whole Loan, or Serviced AB Whole Loan, as applicable, and (ii) with respect to a Non-Serviced Mortgaged Property, the appraised
value allocable thereto, as determined pursuant to the applicable Non-Serviced PSA.

 

“Arbitration
Rules”: As defined in Section 2.03(n)(i).

 

“Arbitration
Services Provider”: As defined in Section 2.03(n)(i).

 

    -12-

     

    

 

“ASR
Consultation Process”: As defined in Section 3.19(d).

 

“Asset
Representations Reviewer”: Pentalpha Surveillance LLC, a Delaware limited liability company, and its successors-in-interest.

 

“Asset
Representations Reviewer Asset Review Fee”: As defined in Section 12.02(b).

 

“Asset
Representations Reviewer Fee”: As defined in Section 12.02(a).

 

“Asset
Representations Reviewer Fee Rate”: As defined in Section 12.02(a).

 

“Asset
Representations Reviewer Termination Event”: As defined in Section 12.05(a).

 

“Asset
Representations Reviewer Upfront Fee”: As defined in Section 12.02(a).

 

“Asset
Review”: A review of the compliance of each Delinquent Loan with certain representations and warranties of the applicable
Mortgage Loan Seller, in accordance with the Asset Review Standard and the procedures set forth on Exhibit QQ hereto.

 

“Asset
Review Notice”: As defined in Section 12.01(a).

 

“Asset
Review Quorum”: In connection with any solicitation of votes to authorize an Asset Review as described in Section
12.01(a), the Certificateholders evidencing at least 5% of the aggregate Voting Rights represented by all of the Certificates.

 

“Asset
Review Report”: As defined in Section 12.01(b)(viii), a report setting forth the findings and conclusions of
an Asset Review substantially in the form attached hereto as Exhibit OO.

 

“Asset
Review Report Summary”: As defined in Section 12.01(b)(viii), a summary report setting forth the conclusions
of an Asset Review Report substantially in the form attached hereto as Exhibit PP.

 

“Asset
Review Standard”: The performance by the Asset Representations Reviewer of its duties under this Agreement in good faith
subject to the express terms of this Agreement. All determinations or assumptions made by the Asset Representations Reviewer in
connection with an Asset Review shall be made in the Asset Representations Reviewer’s good faith discretion and judgment
based on the facts and circumstances known to it at the time of such determination or assumption.

 

“Asset
Review Trigger”: Any time when either (1) Mortgage Loans with an aggregate outstanding principal balance of 25.0%
or more of the aggregate outstanding principal balance of all of the Mortgage Loans (including any REO Loans (or a portion of
any REO Loan in the case of a Whole Loan)) held by the Trust as of the end of the applicable Collection Period are Delinquent
Loans or (2)(A) prior to and including the second anniversary of the Closing Date, at least ten (10) Mortgage Loans
are Delinquent Loans and the outstanding principal balance of

 

    -13-

     

    

 

such
Delinquent Loans in the aggregate constitutes at least 15.0% of the aggregate outstanding principal balance of all of the Mortgage
Loans (including any REO Loans (or a portion of any REO Loan in the case of a Whole Loan)) held by the Trust as of the end of
the applicable Collection Period, or (B) after the second anniversary of the Closing Date, at least fifteen (15) Mortgage
Loans are Delinquent Loans and the outstanding principal balance of such Delinquent Loans in the aggregate constitutes at least
20.0% of the aggregate outstanding principal balance of all of the Mortgage Loans (including any REO Loans (or a portion of any
REO Loan in the case of a Whole Loan)) held by the Trust as of the end of the applicable Collection Period.

 

“Asset
Review Vote Election”: As defined in Section 12.01(a).

 

“Asset
Status Report”: As defined in Section 3.19(d).

 

“Assignment”
and “Assignments”: Each as defined in Section 2.01(c).

 

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

 

“Assignment
of Mortgage”: With respect to any Mortgaged Property, an assignment of Mortgage without recourse, notice of transfer
or equivalent instrument, in recordable form, which is sufficient under the laws of the jurisdiction in which the related Mortgaged
Property is located to reflect of record the assignment of the Mortgage, which assignment, notice of transfer or equivalent instrument
may be in the form of one or more blanket assignments covering Mortgages encumbering Mortgaged Properties located in the same
jurisdiction, if permitted by law and acceptable for recording.

 

“Assumed
Scheduled Payment”: For any Collection Period and with respect to any Mortgage Loan (including any Non-Serviced
Mortgage Loan) that is delinquent in respect of its Balloon Payment or any REO Loan (excluding, for purposes of determining or
making P&I Advances, the portion allocable to any related Companion Loan), an amount equal to the sum of (a) the principal
portion of the Periodic Payment that would have been due on such Mortgage Loan or REO Loan on the related Due Date based on the
constant payment required by the related Mortgage Note or the original amortization schedule of such Mortgage Loan (as calculated
with interest at the related Mortgage Rate), if applicable, assuming such Balloon Payment has not become due, after giving effect
to any reduction in the principal balance thereof occurring in connection with a modification of such Mortgage Loan in connection
with a default or bankruptcy (or similar proceeding), and (b) interest on the Stated Principal Balance of such Mortgage Loan
or REO Loan (excluding, for purposes of determining P&I Advances, the portion allocable to any related Companion Loan) at
the applicable Mortgage Rate (net of interest at the Servicing Fee Rate and the related Non-Serviced Primary Servicing Fee
Rate, if applicable).

 

“Authenticating
Agent”: The Certificate Administrator or any agent of the Certificate Administrator appointed to act as Authenticating
Agent pursuant to Section 5.02(a), in

 

    -14-

     

    

 

each
case in its capacity as authenticating agent, or if any successor authenticating agent is appointed pursuant to Section 5.02(a),
such successor authenticating agent.

 

“Available
Funds”: With respect to any Distribution Date, an amount equal to the sum of (without duplication):

 

(a)               
the aggregate amount of all cash received on the Mortgage Loans (in the case of a Non-Serviced Mortgage Loan, only to the
extent received by the Trust pursuant to the related Non-Serviced PSA and/or the related Non-Serviced Intercreditor Agreement)
(including the portion of Loss of Value Payments deposited into the Collection Account pursuant to Section 3.05(g) of this
Agreement) and any REO Property (including Compensating Interest Payments with respect to the Mortgage Loans required to be deposited
by the Master Servicer pursuant to Section 3.17(a)) on deposit in the Collection Account (in each case, exclusive of any
amount on deposit in or credited to any portion of the Collection Account that is held for the benefit of the Serviced Companion
Noteholders) as of the close of business on the related P&I Advance Date, exclusive of (without duplication):

 

(i)         all Periodic Payments paid by the Mortgagors of a Mortgage Loan that are due on a Due Date following the end of the related Collection
Period, excluding interest relating to payments prior to, but due after, the Cut-off Date;

 

(ii)        all unscheduled Principal Prepayments (together with any related payments of interest allocable to the period following the related
Due Date for the related Mortgage Loan), Liquidation Proceeds, Insurance and Condemnation Proceeds and other unscheduled recoveries,
in each case, received subsequent to the related Determination Date (or, with respect to voluntary Principal Prepayments for each
Mortgage Loan with a Due Date occurring after the related Determination Date, subsequent to the related Due Date) allocable to
the Mortgage Loans;

 

(iii)       (A) all amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xviii),
inclusive, and (xxi) of Section 3.05(a); (B) all amounts payable or reimbursable to any Person from the Lower-Tier
REMIC Distribution Account pursuant to clauses (ii) through (vii), inclusive, of Section 3.05(b); and (C) any
Net Investment Earnings contained therein;

 

(iv)       with respect to the Actual/360 Mortgage Loans and any Distribution Date occurring in (1) each February or (2) any January
in a year that is not a leap year (in each case, unless the related Distribution Date is the final Distribution Date), an amount
equal to one (1) day of interest on the Stated Principal Balance of such Mortgage Loan as of the Due Date in the month preceding
the month in which such Distribution Date occurs at the related Mortgage Rate to the extent such amounts are Withheld Amounts
and are on deposit in the Collection Account;

 

(v)        [RESERVED];

 

    -15-

     

    

 

(vi)            
all Prepayment Premiums and Yield Maintenance Charges allocable to the Mortgage Loans;

 

(vii)           
all amounts deposited in the Collection Account in error; and

 

(viii)         
any Penalty Charges allocable to the Mortgage Loans;

 

(b)              
if and to the extent not already included in clause (a) hereof, the aggregate amount transferred from the REO Account allocable
to the Mortgage Loans to the Collection Account for such Distribution Date pursuant to Section 3.14(c);

 

(c)               
the aggregate amount of any Compensating Interest Payments made by the Master Servicer in respect of the Mortgage Loans with respect
to such Distribution Date and P&I Advances made by the Master Servicer or the Trustee, as applicable, with respect to the
Mortgage Loans and the Distribution Date (net of the related Certificate Administrator Fee, Operating Advisor Fee, Asset Representations
Reviewer Fee and CREFC® Intellectual Property Royalty License Fee with respect to the Mortgage Loans for which
such P&I Advances are made) pursuant to Section 4.03 or Section 7.05;

 

(d)              
with respect to each Actual/360 Mortgage Loan and any Distribution Date occurring in each March (or February, if the related Distribution
Date is the final Distribution Date), the Withheld Amounts remitted to the Lower-Tier REMIC Distribution Account pursuant
to Section 3.21(b); and

 

(e)               
the Gain-on-Sale Remittance Amount for such Distribution Date.

 

Notwithstanding
the investment of funds held in the Collection Account pursuant to Section 3.06, for purposes of calculating the Available
Funds, the amounts so invested shall be deemed to remain on deposit in such accounts.

 

“Balloon
Mortgage Loan”: Any Mortgage Loan or Companion Loan that by its original terms or by virtue of any modification entered
into as of the Closing Date provides for an amortization schedule for such Mortgage Loan or Companion Loan extending beyond its
Maturity Date.

 

“Balloon
Payment”: With respect to any Balloon Mortgage Loan, as of any date of determination, the Periodic Payment payable on
the Maturity Date of such Balloon Mortgage Loan.

 

“Bankruptcy
Code”: The federal Bankruptcy Code, as amended from time to time (Title 11 of the United States Code).

 

“Barclays”:
Barclays Capital Real Estate Inc., a Delaware corporation.

 

“Base
Interest Fraction”: As defined in Section 4.01(e).

 

“BCHI”:
Barclays Capital Holdings Inc., a Delaware corporation.

 

    -16-

     

    

 

“Book-Entry
Certificate”: Any Certificate registered in the name of the Depository or its nominee.

 

“Borrower
Party”: A borrower, a Mortgagor, a manager of a Mortgaged Property, an Accelerated Mezzanine Loan Lender, or any Borrower
Party Affiliate.

 

“Borrower
Party Affiliate”: With respect to a borrower, a Mortgagor, a manager of a Mortgaged Property or an Accelerated Mezzanine
Loan Lender, (a) any other Person controlling or controlled by or under common control with such borrower, Mortgagor, manager
or Accelerated Mezzanine Loan Lender, as applicable, or (b) any other Person owning, directly or indirectly, 25% or more
of the beneficial interests in such borrower, Mortgagor, manager or Accelerated Mezzanine Loan Lender, as applicable. For the
purposes of this definition, “control” when used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract
or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 

“Breach”:
With respect to any Mortgage Loan, a breach of any representation or warranty with respect to such Mortgage Loan set forth in
Section 4(b) of the related Mortgage Loan Purchase Agreement.

 

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

 

“CERCLA”:
The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

“Certificate”:
Any one of the Depositor’s Commercial Mortgage Pass-Through Certificates, Series 2019-C3, as executed and delivered
by the Certificate Registrar and authenticated and delivered hereunder by the Authenticating Agent.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator, or if any successor
certificate administrator is appointed thereto pursuant to Section 5.08 or any successor certificate administrator appointed
hereunder. Wells Fargo Bank, National Association shall perform the certificate administrator role through its Corporate Trust
Services division.

 

“Certificate
Administrator Fee”: The fee to be paid to the Certificate Administrator as compensation for the Certificate Administrator’s
activities under this Agreement; provided that the Certificate Administrator Fee includes the Trustee Fee, and the Certificate
Administrator shall pay the Trustee Fee to the Trustee.

 

    -17-

     

    

 

“Certificate
Administrator Fee Rate”: The Certificate Administrator Fee shall be equal to the product of the rate equal to 0.00774%
per annum and the Stated Principal Balance of the related Mortgage Loan (calculated in the same manner as interest is calculated
on the related Mortgage Loan) or REO Loan (other than the portion of an REO Loan related to any Companion Loan) as of the preceding
Distribution Date. The Certificate Administrator Fee includes the Trustee Fee.

 

“Certificate
Administrator’s Website”: The Certificate Administrator’s Internet website, which shall initially be located
at “www.ctslink.com”.

 

“Certificate
Balance”: With respect to any Class of Principal Balance Certificates, (i) on or prior to the first Distribution
Date, an amount equal to the Original Certificate Balance of such Class of Principal Balance Certificates as specified in the
Preliminary Statement hereto and (ii) as of any date of determination after the first Distribution Date, the Certificate
Balance of such Class of Principal Balance Certificates on the Distribution Date immediately prior to such date of determination
(determined as adjusted pursuant to Section 1.02(iii)).

 

“Certificate
Factor”: With respect to any Class of Certificates (other than the Class R Certificates), as of any date of determination,
a fraction, expressed as a decimal carried to at least eight (8) places, the numerator of which is the then-related Certificate
Balance or Notional Amount, and the denominator of which is the related Original Certificate Balance.

 

“Certificate
Owner”: With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate as
reflected on the books of the Depository or on the books of a Depository Participant or on the books of an indirect participating
brokerage firm for which a Depository Participant acts as agent.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and registrar appointed pursuant to
Section 5.03(a).

 

“Certificateholder”
or “Holder”: The Person in whose name a Certificate is registered in the Certificate Register or any beneficial
owner thereof; provided, however, that solely for the purposes of giving any consent, approval, waiver or taking
any action pursuant to this Agreement, any Certificate registered in the name of or beneficially owned by the Master Servicer,
the Special Servicer (including, for the avoidance of doubt, any Excluded Special Servicer), the Trustee, the Certificate Administrator,
the Depositor, any Mortgage Loan Seller, a Mortgagor, a Borrower Party or any Affiliate of any of such Persons shall be deemed
not to be outstanding (provided that notwithstanding the foregoing, any Controlling Class Certificates owned by an Excluded
Controlling Class Holder shall not be deemed to be outstanding as to such Excluded Controlling Class Holder solely with respect
to any related Excluded Loan; and provided, further, that any Controlling Class Certificates owned by the Special
Servicer or an Affiliate thereof shall not be deemed to be outstanding as to the Special Servicer or such Affiliate solely with
respect to any related Excluded Special Servicer Loan), and the Voting Rights to which it is entitled shall not be taken into
account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent, approval, waiver
or take any such action has been obtained; provided, however, that the foregoing restrictions shall not apply in
the case of the Master Servicer, the Special Servicer (including, for the avoidance of doubt, any Excluded Special

 

    -18-

     

    

 

Servicer),
the Trustee, the Certificate Administrator, the Depositor, any Mortgage Loan Seller or any Affiliate of any of such Persons unless
such consent, approval or waiver sought from such party would in any way increase its compensation or limit its obligations in
the named capacities hereunder or waive a Servicer Termination Event or trigger an Asset Review (with respect to an Asset Review
and any Mortgage Loan Seller, solely with respect to any related Mortgage Loan subject to the Asset Review); provided,
further, that so long as there is no Servicer Termination Event with respect to the Master Servicer or the Special Servicer,
as applicable, the Master Servicer or the Special Servicer or any such Affiliate thereof, as applicable, shall be entitled to
exercise such Voting Rights with respect to any issue which could reasonably be believed to adversely affect such party’s
compensation or increase its obligations or liabilities hereunder; and provided, further, that such restrictions
shall not apply to (i) the exercise of the Special Servicer’s, the Master Servicer’s or any Mortgage Loan Seller’s
rights, if any, or any of their Affiliates as a member of the Controlling Class or (ii) any Affiliate of the Depositor, the
Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator that has provided an Investor Certification
in which it has certified as to the existence of certain policies and procedures restricting the flow of information between it
and the Depositor, the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator, as applicable. The
Trustee and the Certificate Administrator shall each be entitled to request and rely upon a certificate of the Master Servicer,
the Special Servicer or the Depositor in determining whether a Certificate is registered in the name of an Affiliate of such Person.
All references herein to “Holders” or “Certificateholders” shall reflect the rights of Certificate Owners
as they may indirectly exercise such rights through the Depository and the Depository Participants, except as otherwise specified
herein; provided, however, that the parties hereto shall be required to recognize as a “Holder” or “Certificateholder”
only the Person in whose name a Certificate is registered in the Certificate Register. The Trustee shall be the Holder of the
Lower-Tier Regular Interests for the benefit of the Certificateholders.

 

“Certificateholder
Quorum”: The Holders of Certificates evidencing at least 50% of the aggregate Voting Rights (taking into account the
application of Realized Losses and, other than with respect to the termination of the Asset Representations Reviewer, the application
of any Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balance of the Certificates) of all Principal
Balance Certificates on an aggregate basis.

 

“Certificateholder
Repurchase Request”: As defined in Section 2.03(k)(i).

 

“Certification
Parties”: As defined in Section 11.06.

 

“Certification
Party”: Any one of the Certification Parties.

 

“Certifying
Person”: As defined in Section 11.06.

 

“Certifying
Servicer”: As defined in Section 11.09.

 

“Class”:
With respect to any Certificates or the Lower-Tier Regular Interests, all of the Certificates bearing the same alphabetical
(and, if applicable, numerical) Class designation and each designated Lower-Tier Regular Interest.

 

“Class
A Certificate”: Any Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-S Certificate.

 

    -19-

     

    

 

“Class
A-1 Certificate”: A Certificate designated as “Class A-1” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-1 Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 2.5810%.

 

“Class
A-2 Certificate”: A Certificate designated as “Class A-2” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-2 Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.4380%.

 

“Class
A-3 Certificate”: A Certificate designated as “Class A-3” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-3 Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.3190%.

 

“Class
A-4 Certificate”: A Certificate designated as “Class A-4” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-4 Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.5830%.

 

“Class
A-S Certificate”: A Certificate designated as “Class A-S” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
A-S Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.8950%.

 

“Class
A-SB Certificate”: A Certificate designated as “Class A-SB” on the face thereof, in the form of
Exhibit A-1 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of
the REMIC Provisions.

 

“Class
A-SB Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.4580%.

 

“Class
A-SB Planned Principal Balance”: With respect to any Distribution Date, the planned principal amount for such Distribution
Date specified in Schedule 2 hereto relating to the Class A-SB Certificates.

 

    -20-

     

    

 

“Class
B Certificate”: A Certificate designated as “Class B” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
B Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 4.0960%.

 

“Class
C Certificate”: A Certificate designated as “Class C” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
C Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 4.1780%.

 

“Class
D Certificate”: A Certificate designated as “Class D” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
D Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to 3.0000%.

 

“Class
E-RR Certificate”: A Certificate designated as “Class E-RR” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
E-RR Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average
Net Mortgage Rate for such Distribution Date.

 

“Class
F-RR Certificate”: A Certificate designated as “Class F-RR” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
F-RR Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average
Net Mortgage Rate for such Distribution Date.

 

“Class
G-RR Certificate”: A Certificate designated as “Class G-RR” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
G-RR Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average
Net Mortgage Rate for such Distribution Date.

 

“Class
H-RR Certificate”: A Certificate designated as “Class H-RR” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
H-RR Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average
Net Mortgage Rate for such Distribution Date.

 

    -21-

     

    

 

“Class
J-RR Certificate”: A Certificate designated as “Class J-RR” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
J-RR Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average
Net Mortgage Rate for such Distribution Date.

 

“Class
LA1 Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LA2 Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LA3 Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LA4 Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LAS Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LASB Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LB Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LC Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

    -22-

     

    

 

“Class
LD Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LERR Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LFRR Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LGRR Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LHRR Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

“Class
LJRR Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset
of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set
forth in the Preliminary Statement hereto.

 

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

 

“Class
R Certificate”: A Certificate designated as “Class R” on the face thereof in the form of Exhibit A-2
hereto, and evidencing the sole Class of “residual interests” in each Trust REMIC for purposes of the REMIC Provisions.

 

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

 

“Class
X Certificates”: The Class X-A, Class X-B and Class X-D Certificates, as the context may require.

 

“Class
X-A Certificate”: A Certificate designated as “Class X-A” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

    -23-

     

    

 

“Class
X-A Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class A
Certificates (other than the Class A-S Certificates).

 

“Class
X-A Pass-Through Rate”: The Pass-Through Rate for Class X-A Certificates for any Distribution Date will
equal the excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the
weighted average of the Pass-Through Rates on the Class A Certificates (other than the Class A-S Certificates) for such
Distribution Date, weighted on the basis of their respective Certificate Balances immediately prior to the Distribution Date.
The Pass-Through Rate applicable to the Class X-A Certificates for the initial Distribution Date shall be the rate set
forth in the Preliminary Statement hereto.

 

“Class
X-B Certificate”: A Certificate designated as “Class X-B” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
X-B Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class A-S,
Class B and Class C Certificates.

 

“Class
X-B Pass-Through Rate”: The Pass-Through Rate for Class X-B Certificates for any Distribution Date will
equal the excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the
weighted average of the Pass-Through Rates on the Class A-S, Class B and Class C Certificates for such Distribution Date,
weighted on the basis of their respective aggregate Certificate Balances immediately prior to the Distribution Date. The Pass-Through
Rate applicable to the Class X-B Certificates for the initial Distribution Date shall be the rate set forth in the Preliminary
Statement hereto.

 

“Class
X-D Certificate”: A Certificate designated as “Class X-D” on the face thereof, in the form of Exhibit A-1
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
X-D Notional Amount”: As of any date of determination, the Certificate Balance of the Class D Certificates.

 

“Class
X-D Pass-Through Rate”: The Pass-Through Rate for Class X-D Certificates for any Distribution Date will
equal the excess, if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the
Pass-Through Rate of the Class D Certificates for such Distribution Date. The Pass-Through Rate applicable to the Class
X-D Certificates for the initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

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

 

“Clearstream”:
Clearstream Banking, société anonyme or any successor thereto.

 

“Closing
Date”: June 11, 2019.

 

“CMBS”:
Commercial mortgage-backed securities.

 

    -24-

     

    

 

“Code”:
The Internal Revenue Code of 1986, as amended from time to time, and applicable final or temporary regulations of the U.S. Department
of the Treasury issued pursuant thereto.

 

“Collateral
Deficiency Amount” With respect to any AB Modified Loan as of any date of determination, an amount, calculated by the
Special Servicer (with respect to any AB Modified Loans that are not Non-Serviced Mortgage Loans) or the Master Servicer (with
respect to any AB Modified Loans that are Non-Serviced Mortgage Loans) equal to the excess of (i) the Stated Principal Balance
of such AB Modified Loan (taking into account the related junior note(s) and any pari passu notes included therein), over
(ii) the sum of (in the case of a Whole Loan, solely to the extent allocable to the subject Mortgage Loan) (x) the most
recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not
reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of,
the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at
the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related
Mortgaged Property or Mortgaged Properties (provided that in the case of a Non-Serviced Mortgage Loan, the amounts
set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Master
Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding
clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Special Servicer
(with respect to any AB Modified Loans that are Non-Serviced Mortgage Loans), the Master Servicer (with respect to any AB Modified
Loans that are not Non-Serviced Mortgage Loans), the Operating Advisor and the Certificate Administrator shall be entitled to
conclusively rely on the Master Servicer’s or the Special Servicer’s, as the case may be, calculation or determination
of any Collateral Deficiency Amount.

 

“Collection
Account”: A segregated custodial account or accounts created and maintained by the Master Servicer pursuant to Section
3.04(a) on behalf of the Trustee for the benefit of the Certificateholders, which shall be entitled “Midland Loan Services,
a Division of PNC Bank, National Association, as Master Servicer, on behalf of Wells Fargo Bank, National Association, as Trustee,
for the benefit of the registered holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates,
Series 2019-C3, Collection Account”. Any such account or accounts shall be an Eligible Account. Subject to the related
Intercreditor Agreement and taking into account that each Companion Loan is subordinate or pari passu, as applicable, to
the related Serviced Mortgage Loan to the extent set forth in the related Intercreditor Agreement, the subaccount described in
the second paragraph of Section 3.04(b) that is part of the Collection Account shall be for the benefit of the Serviced
Companion Noteholders, to the extent funds on deposit in such subaccount are attributed to such Companion Loans and shall not
be an asset of the Trust or any Trust REMIC.

 

“Collection
Period”: With respect to any Distribution Date and any Mortgage Loan or Companion Loan, the period commencing on the
day immediately succeeding the Due Date for such Mortgage Loan or Companion Loan occurring in the month preceding the month in
which that Distribution Date occurs or the date that would have been the Due Date if such Mortgage Loan or Companion Loan had
a Due Date in such preceding month and ending on and including the Due Date for such Mortgage Loan or Companion Loan occurring
in the month in which that

 

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Distribution
Date occurs. Notwithstanding the foregoing, in the event that the last day of a Collection Period is not a Business Day, any Periodic
Payments received with respect to the Mortgage Loans or Companion Loan relating to such Collection Period on the Business Day
immediately following such day shall be deemed to have been received during such Collection Period and not during any other Collection
Period.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion
Distribution Account”: With respect to any Serviced Companion Loan, the separate account created and maintained by the
Companion Paying Agent pursuant to Section 3.04(b) and held on behalf of the Serviced Companion Noteholders, which shall
be entitled “Midland Loan Services, a Division of PNC Bank, National Association, as Companion Paying Agent, for the benefit
of the Serviced Companion Noteholders of the Serviced Companion Loans, relating to the BBCMS Mortgage Trust 2019-C3, Commercial
Mortgage Pass-Through Certificates, Series 2019-C3, Companion Distribution Account”. The Companion Distribution
Account shall not be an asset of the Trust or any Trust REMIC, but instead shall be held by the Companion Paying Agent on behalf
of the Serviced Companion Noteholders. Any such account shall be an Eligible Account. Notwithstanding the foregoing, if the Master
Servicer and the Companion Paying Agent are the same entity, the Companion Distribution Account may be the subaccount referenced
in the second paragraph of Section 3.04(b).

 

“Companion
Holders”: Each of the holders of record of any Companion Loan.

 

“Companion
Loan”: A mortgage loan that is not included in the Trust Fund but is part of a Whole Loan that includes a Mortgage Loan.

 

“Companion
Loan Rating Agency”: Any NRSRO rating any class of Serviced Pari Passu Companion Loan Securities.

 

“Companion
Paying Agent”: With respect to the Serviced Companion Loans, if any, the Master Servicer in its role as Companion Paying
Agent appointed pursuant to Section 3.27.

 

“Compensating
Interest Payment”: An aggregate amount as of any Distribution Date equal to the lesser of (i) the aggregate amount
of Prepayment Interest Shortfalls incurred in connection with voluntary principal prepayments received in respect of the Mortgage
Loans (other than Non-Serviced Mortgage Loans) and any related Serviced Pari Passu Companion Loans (in each case other than
any Specially Serviced Loan or any Mortgage Loan or related Serviced Pari Passu Companion Loan on which the Special Servicer allowed
a prepayment on a date other than the applicable Due Date) for the related Distribution Date and (ii) the aggregate of (A) that
portion of the Master Servicer’s Servicing Fees for such Distribution Date that is, in the case of each Mortgage Loan (other
than any Non-Serviced Mortgage Loans), Serviced Pari Passu Companion Loan and REO Loan for which Servicing Fees are being
paid to the Master Servicer for such Collection Period, calculated at a rate of 0.00125% per annum, (B) all Prepayment
Interest Excesses received by the Master Servicer during such Collection Period with respect to the Mortgage Loans (other than
the Non-Serviced Mortgage Loans) (and, so long as a Serviced Whole Loan is serviced hereunder, any related Serviced Pari Passu
Companion Loan) subject to such

 

    -26-

     

    

 

prepayment
and (C) to the extent earned on voluntary principal prepayments, net investment earnings payable to the Master Servicer for
such Collection Period received by the Master Servicer during such Collection Period with respect to the applicable Mortgage Loans
(other than the Non-Serviced Mortgage Loans) or any related Serviced Pari Passu Companion Loan, as applicable, subject to
such prepayment. In no event will the rights of the Certificateholders to the offset of the aggregate Prepayment Interest Shortfalls
be cumulative. However, if a Prepayment Interest Shortfall occurs with respect to a Mortgage Loan as a result of the Master Servicer’s
allowing the related Mortgagor to deviate (a “Prohibited Prepayment”) from the terms of the related Mortgage
Loan documents regarding Principal Prepayments (other than (V) a Non-Serviced Mortgage Loan, (W) subsequent to a
default under the related Mortgage Loan documents or if the Mortgage Loan is a Specially Serviced Loan, (X) pursuant to applicable
law or a court order or otherwise in such circumstances where the Master Servicer is required to accept such Principal Prepayment
in accordance with the Servicing Standard, (Y)(i) at the request or with the consent of the Special Servicer or, (ii) so long
as no Control Termination Event has occurred and is continuing, and only with respect to Mortgage Loans other than Excluded Loans,
at the request or with the consent of the Directing Certificateholder or (Z) in connection with the payment of any Insurance
and Condemnation Proceeds), then for purposes of calculating the Compensating Interest Payment for the related Distribution Date,
the Master Servicer shall pay, without regard to clause (ii) above, the aggregate amount of Prepayment Interest Shortfalls
with respect to such Mortgage Loan, otherwise described in clause (i) above in connection with such Prohibited Prepayments.
For the avoidance of doubt, any portion of a Compensating Interest Payment attributable to a Serviced Whole Loan shall be allocated
among the related Mortgage Loan and the related Serviced Pari Passu Companion Loan(s), pro rata, in accordance with their
respective principal balances.

 

“Consultation
Termination Event”: At any date at which no Class of Control Eligible Certificates exists where such Class’s aggregate
Certificate Balance is at least equal to 25% of the Original Certificate Balance of that Class, in each case without regard to
the application of any Cumulative Appraisal Reduction Amounts; provided that no Consultation Termination Event may occur
with respect to the Loan-Specific Directing Certificateholder related to a Servicing Shift Whole Loan and the term “Consultation
Termination Event” shall not be applicable to the Loan-Specific Directing Certificateholder related to such Servicing Shift
Whole Loan; provided, further, that a Consultation Termination Event shall be deemed not continuing in the event
that the Certificate Balances of the Certificates other than the Control Eligible Certificates have been reduced to zero as a
result of principal payments on the Mortgage Loans.

 

“Control
Eligible Certificates”: Any of the Class E-RR, Class F-RR, Class G-RR, Class H-RR and Class J-RR Certificates.

 

“Control
Termination Event”: The occurrence of the Certificate Balance of the Class E-RR Certificates (taking into account the
application of any Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such Class in accordance
with Section 4.05(a)) being reduced to less than 25% of the Original Certificate Balance of such Class; provided
that no Control Termination Event may occur with respect to the Loan-Specific Directing Certificateholder related to a Servicing
Shift Whole Loan and the term “Control Termination Event” shall not be applicable to the Loan-Specific Directing Certificateholder
related to such Servicing Shift Whole Loan; provided, further, that a Control Termination Event shall not be

 

    -27-

     

    

 

deemed
continuing in the event that the Certificate Balances of the Certificates other than the Control Eligible Certificates have been
reduced to zero as a result of principal payments on the Mortgage Loans.

 

“Controlling
Class”: As of any date of determination, the most subordinate Class of Control Eligible Certificates then outstanding
that has an aggregate Certificate Balance as notionally reduced by any Cumulative Appraisal Reduction Amounts allocable to such
Class in accordance with Section 4.05(a), at least equal to 25% of the Original Certificate Balance of that Class; provided,
however, that if at any time the Certificate Balances of the Certificates other than the Control Eligible Certificates
have been reduced to zero as a result of the allocation of principal payments on the Mortgage Loans, then the Controlling Class
shall be the most subordinate Class among the Control Eligible Certificates that has a Certificate Balance greater than zero without
regard to any Cumulative Appraisal Reduction Amounts. The Controlling Class as of the Closing Date will be the Class J-RR Certificates.

 

“Controlling
Class Certificateholders”: Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class
as determined by the Certificate Registrar, from time to time, upon request by any party hereto. The Depositor, the Trustee, the
Master Servicer, the Special Servicer or the Operating Advisor may from time to time request (the cost of which being an expense
of the Trust) that the Certificate Administrator provide a list of the Holders (or Certificate Owners, if applicable) of the Controlling
Class and the Certificate Administrator shall promptly provide such list without charge to such Depositor, Trustee, Master Servicer,
Operating Advisor or Special Servicer, as applicable. The Trustee, the Master Servicer, the Special Servicer and the Operating
Advisor shall be entitled to rely on any such list so provided.

 

“Conveyed
Property”: As defined in Section 2.01(a).

 

“Corporate
Trust Office”: The principal corporate trust office of the Trustee and the Certificate Administrator at which at any
particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of
the execution of this Agreement is located (i) with respect to Certificate transfers and surrenders, at Wells Fargo Bank,
National Association, 600 South 4th Street, 7th Floor, MAC N9300-070, Minneapolis, Minnesota 55479, Attention: Certificate Transfer
Services – BBCMS 2019-C3 and (ii) for all other purposes, to the 9062 Old Annapolis Road, Columbia, Maryland 21045,
Attention: Corporate Trust Services (CMBS), BBCMS Mortgage Trust 2019-C3.

 

“Corrected
Loan”: Any Specially Serviced Loan that has become current and remained current for three (3) consecutive Periodic
Payments (for such purposes taking into account any modification or amendment of the related Mortgage Loan or Companion Loan,
as applicable, whether by a consensual modification or in connection with a bankruptcy, insolvency or similar proceeding involving
the Mortgagor), and (provided that no other Servicing Transfer Event has occurred with respect to such Mortgage Loan or
Companion Loan during such preceding three (3) months, no additional event of default is foreseeable in the reasonable judgment
of the Special Servicer and no other event or circumstance exists that causes such Mortgage Loan or Companion Loan, as applicable,
to otherwise constitute a Specially Serviced Loan) the servicing of which the Special Servicer has returned to the Master Servicer
pursuant to Section 3.19(a).

 

    -28-

     

    

 

“CREFC®”:
The Commercial Real Estate Finance Council®, or any successor organization reasonably acceptable to the Certificate
Administrator, the Master Servicer, the Special Servicer and, prior to the occurrence and continuance of a Control Termination
Event, the Directing Certificateholder.

 

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

 

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

 

“CREFC®
Bond Level File”: The data file in the “CREFC® Bond Level File” format substantially
in the form of and containing the information called for therein, or such other form for the presentation of such information
as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Collateral Summary File”: The data file in the “CREFC® Collateral Summary File” format
substantially in the form of and containing the information called for therein, or such other form for the presentation of such
information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Comparative Financial Status Report”: The monthly report in “Comparative Financial Status Report”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Delinquent Loan Status Report”: The monthly report in the “Delinquent Loan Status Report” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Financial File”: The data file in the “CREFC® Financial File” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and
containing the information called for in, the downloadable

 

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form
of the “Historical Bond/Collateral Realized Loss Reconciliation Template” available and effective from time to time
on the CREFC® Website.

 

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

 

“CREFC®
Historical Loan Modification/Forbearance and Corrected Mortgage Loan Report”: The monthly report in the “Historical
Loan Modification/Forbearance and Corrected Mortgage Loan Report” format substantially in the form of and containing the
information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved
from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

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

 

“CREFC®
Intellectual Property Royalty License Fee Rate”: With respect to each Mortgage Loan and REO Loan, a rate equal
to 0.00050% per annum.

 

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

 

“CREFC®
Investor Reporting Package”: The collection of reports specified by the CREFC® from time to time
as the “CREFC® Investor Reporting Package”. As of the Closing Date, the CREFC® Investor
Reporting Package contains eight electronic files ((1) CREFC® Loan Setup File, (2) CREFC®
Loan Periodic Update File, (3) CREFC® Property File, (4) CREFC® Bond Level File, (5) CREFC®
Collateral Summary File, (6) CREFC® Financial File, (7) CREFC® Special Servicer
Loan File and (8) CREFC® Schedule AL File) and nine surveillance reports ((1) CREFC® Servicer
Watch List, (2) CREFC® Delinquent Loan Status Report, (3) CREFC® REO Status Report, (4) CREFC®
Comparative Financial Status Report, (5) CREFC® Historical Loan Modification/Forbearance and Corrected
Mortgage Loan Report, (6) CREFC® Operating Statement Analysis Report, (7) CREFC® NOI Adjustment
Worksheet, (8) CREFC® Loan Level Reserve/LOC Report and (9) with respect to Mortgage Loans that have
a Companion Loan, as applicable, the CREFC® Total Loan Report). In addition, the CREFC® Investor
Reporting Package shall include the CREFC® Advance Recovery Report. In addition, the CREFC® Investor
Reporting Package shall include the following eleven templates: (1) CREFC® Appraisal

 

    -30-

     

    

 

Reduction
Template, (2) CREFC® Servicer Realized Loss Template, (3) CREFC® Reconciliation of Funds
Template, (4) CREFC® Historical Bond/Collateral Realized Loss Reconciliation Template, (5) CREFC®
Historical Liquidation Loss Template, (6) CREFC® Interest Shortfall Reconciliation Template, (7) CREFC®
Servicer Remittance to Certificate Administrator Report, (8) CREFC® Significant Insurance Event Report, (9)
CREFC® Loan Modification Report, (10) CREFC® Loan Liquidation Report and (11) CREFC®
REO Liquidation Report. The CREFC® Investor Reporting Package shall be substantially in the form of, and
containing the information called for in, the downloadable forms of the “CREFC® IRP” available as of
the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information or reports as may from time to time be approved by the CREFC® for commercial mortgage-backed
securities transactions generally. For the purposes of the production of the CREFC® Comparative Financial Status
Report by the Master Servicer or the Special Servicer of any such report that is required to state information for any period
prior to the Cut-off Date, the Master Servicer or the Special Servicer, as the case may be, may conclusively rely (without
independent verification), absent manifest error, on information provided to it by the Mortgage Loan Sellers or by the related
Mortgagor or (x) in the case of such a report produced by the Master Servicer, by the Special Servicer (if other than the
Master Servicer or an Affiliate thereof) and (y) in the case of such a report produced by the Special Servicer, by the Master
Servicer (if other than the Special Servicer or an Affiliate thereof).

 

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

 

“CREFC®
Loan Level Reserve/LOC Report”: The monthly report in the “CREFC® Loan Level Reserve/LOC
Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or
such other form for the presentation of such information as may be approved from time to time by the CREFC® for
commercial mortgage securities transactions generally.

 

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

 

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

 

“CREFC®
Loan Periodic Update File”: The data file in the “CREFC® Loan Periodic Update File”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

    -31-

     

    

 

“CREFC®
Loan Setup File”: The data file in the “CREFC® Loan Setup File” format substantially
in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
NOI Adjustment Worksheet”: The worksheet in the “NOI Adjustment Worksheet” format substantially in
the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Operating Statement Analysis Report”: The report in the “Operating Statement Analysis Report” format
substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for
the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Property File”: The data file in the “CREFC® Property File” format substantially in
the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

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

 

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

 

“CREFC®
REO Status Report”: The monthly report in the “REO Status Report” format substantially in the form
of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information
as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Schedule AL File”: A data file in the “Schedule AL File” format substantially in the form of and containing
the information called for by Item 1111(h)(3) or Item 1125 of Regulation AB or Item 601(b)(102) of Regulation S-K under the Securities
Act with respect to the Mortgage Loans, or such other form for the presentation of such information as may be approved from time
to time by the CREFC® for commercial mortgage securities transactions generally, which in any case shall include all information
required by Item 1111(h)(3) or Item 1125 of Regulation AB or Item 601(b)(102) of Regulation S-K under the Securities Act; provided

 

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that
the Depositor shall confirm in writing to the Master Servicer and the Certificate Administrator that any change to such “Schedule
AL File” format complies with all requirements of Item 1125 of Regulation AB.

 

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

 

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

 

“CREFC®
Servicer Watch List”: A monthly report, as of each Determination Date, including and identifying each Non-Specially
Serviced Loan satisfying the “CREFC® Portfolio Review Guidelines” approved from time to time by the
CREFC® in the “CREFC® Servicer Watch List” format substantially in the form of and containing
the information called for therein for the Mortgage Loans, or such other form (including other portfolio review guidelines) for
the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

“CREFC®
Significant Insurance Event Report”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Significant Insurance Event Report” available and effective from time to time
on the CREFC® Website.

 

“CREFC®
Special Servicer Loan File”: The data file in the “CREFC® Special Servicer Loan File”
format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage
securities transactions generally.

 

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

 

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

 

“Cross-Over
Date”: The Distribution Date on which the Certificate Balances of the Subordinate Certificates have all previously been
reduced to zero as a result of the allocation of Realized Losses to such Certificates.

 

“Crossed
Mortgage Loan Group”: With respect to (i) any Mortgage Loan that consists of more than one commercial mortgage
loan, the underlying group of loans that are cross-collateralized and cross-defaulted with each other and (ii) any
two or more individual

 

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Mortgage
Loans that are cross-collateralized and cross-defaulted with each other, such cross-collateralized and cross-defaulted
Mortgage Loans. For the avoidance of doubt, there are no Crossed Mortgage Loan Groups related to the Trust.

 

“Crossed
Underlying Loan”: With respect to any Crossed Mortgage Loan Group, a Mortgage Loan that is cross-collateralized
and cross-defaulted with one or more other Mortgage Loans within such Crossed Mortgage Loan Group. For the avoidance of doubt,
there are no Crossed Underlying Loans related to the Trust.

 

“Crossed
Underlying Loan Repurchase Criteria”: With respect to any Crossed Mortgage Loan Group as to which one or more (but not
all) of the Crossed Underlying Loans therein are affected by a Material Defect (the Crossed Underlying Loan(s) in such Crossed
Mortgage Loan Group affected by such Material Defect, for purposes of this definition, the “affected Crossed Underlying
Loans” and the other Crossed Underlying Loan(s) in such Crossed Mortgage Loan Group, for purposes of this definition, the
“remaining Crossed Underlying Loans”) (i) the debt service coverage ratio for all the remaining Crossed Underlying
Loans for the four most recently reported calendar quarters preceding the repurchase or substitution shall not be less than the
least of (a) 0.10x below the debt service coverage ratio for the Crossed Mortgage Loan Group (including the affected Crossed
Underlying Loan(s)) set forth in Annex A-1 to the Prospectus, (b) the debt service coverage ratio for the Crossed
Mortgage Loan Group (including the affected Crossed Underlying Loan(s)) for the four preceding calendar quarters preceding the
repurchase or replacement and (c) 1.25x, (ii) the loan-to-value ratio for all the remaining Crossed Underlying
Loans determined at the time of repurchase or substitution based upon an Appraisal obtained by the Special Servicer at the expense
of the related Mortgage Loan Seller shall not be greater than the greatest of (a) the loan-to-value ratio, expressed
as a whole number percentage (taken to one decimal place), for the entire Crossed Mortgage Loan Group, (including the affected
Crossed Underlying Loan(s)) set forth in Annex A-1 to the Prospectus plus 10%, (b) the loan-to-value
ratio, expressed as a whole number percentage (taken to one decimal place), for the entire such Crossed Mortgage Loan Group, including
the affected Crossed Underlying Loan(s) at the time of repurchase or substitution, and (c) 75%, (iii) the related Mortgage
Loan Seller, at its expense, shall have furnished the Trustee and the Certificate Administrator with an Opinion of Counsel that
any modification relating to the repurchase or substitution of a Crossed Underlying Loan shall not cause an Adverse REMIC Event,
(iv) the related Mortgage Loan Seller causes the affected Crossed Underlying Loan to become not cross-collateralized
and cross-defaulted with the remaining related Crossed Underlying Loans prior to such repurchase or substitution or otherwise
forbears from exercising enforcement rights against the Primary Collateral for any Crossed Underlying Loan(s) remaining in the
Trust (while the Trust forbears from exercising enforcement rights against the Primary Collateral for the Mortgage Loan removed
from the Trust) and (v) (other than with respect to any Excluded Loan) unless a Control Termination Event has occurred and
is continuing, the Directing Certificateholder shall have consented to the repurchase or substitution of the affected Crossed
Underlying Loan, which consent shall not be unreasonably withheld, conditioned or delayed.

 

“Cumulative
Appraisal Reduction Amount”: As of any date of determination and for any Mortgage Loan, an amount equal to the sum of
(i) all Appraisal Reduction Amounts then in effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency
Amount then in effect. The Master Servicer and the Certificate Administrator shall be entitled to conclusively

 

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rely
on the Special Servicer’s calculation or determination of any Cumulative Appraisal Reduction Amount with respect to a Mortgage
Loan (other than a Non-Serviced Mortgage Loan). With respect to a Non-Serviced Mortgage Loan, the Special Servicer and
the Certificate Administrator shall be entitled to conclusively rely on the applicable Non-Serviced Special Servicer’s
calculation or determination of any Appraisal Reduction Amount with respect to such Non-Serviced Mortgage Loan and on the
Master Servicer’s calculation or determination of any Collateral Deficiency Amount with respect to any such Non-Serviced
Mortgage Loan that is an AB Modified Loan.

 

“Cure/Contest
Period”: As defined in Section 12.01(b)(vii).

 

“Custodial
Exception Report”: As defined in Section 2.02(b).

 

“Custodian”:
A Person who is at any time appointed by the Trustee pursuant to Section 8.11 as a document custodian for the Mortgage
Files, which Person shall not be the Depositor, any of the Mortgage Loan Sellers or an Affiliate of any of them. The Certificate
Administrator shall be the initial Custodian. Wells Fargo Bank, National Association will perform its duties as Custodian hereunder
through its Document Custody division.

 

“Cut-off
Date”: With respect to each Mortgage Loan, the related Due Date of such Mortgage Loan in June 2019, or with respect
to any Mortgage Loan that has its first Due Date after June 2019, the date that would have otherwise been the related Due Date
in June 2019.

 

“Cut-off
Date Balance”: With respect to any Mortgage Loan, the outstanding principal balance of such Mortgage Loan, as of the
Cut-off Date, after application of all payments of principal due on or before such date, whether or not received.

 

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

 

“Default
Interest”: With respect to any Mortgage Loan or Companion Loan and any Collection Period, all interest accrued in respect
of such Mortgage Loan or Companion Loan during such Collection Period provided for in the related Mortgage Note or Mortgage as
a result of a default (exclusive of late payment charges) that is in excess of interest at the related Mortgage Rate accrued on
the unpaid principal balance of such Mortgage Loan or Companion Loan outstanding from time to time.

 

“Defaulted
Loan”: A Mortgage Loan (other than a Non-Serviced Mortgage Loan) or a Serviced Whole Loan (i) that is delinquent
at least sixty (60) days in respect of its Periodic Payments (other than a Balloon Payment) or delinquent in respect of its
Balloon Payment, if any; provided that in respect of a Balloon Payment, if the related Mortgagor has provided the Master
Servicer or Special Servicer, as applicable with documentation reasonably satisfactory in form and substance to the Master Servicer
or the Special Servicer, as applicable (and the Master Servicer or Special Servicer, as applicable, will be required to promptly
forward such documentation to the

 

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Directing
Certificateholder), which provides that a refinancing of such Mortgage Loan or sale of the related Mortgaged Property will occur
within 120 days after the date on which such Balloon Payment will become due, then such Mortgage Loan or Serviced Whole Loan will
not be considered a Defaulted Loan unless and until such Balloon Payment is delinquent at least one hundred twenty (120) days;
and, in any case, such delinquency is to be determined without giving effect to any Grace Period permitted by the related Mortgage
or Mortgage Note and without regard to any acceleration of payments under the related Mortgage and Mortgage Note or (ii) as
to which the Special Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced
by the related Mortgage Note. For the avoidance of doubt, a defaulted Companion Loan does not constitute a “Defaulted Loan”.

 

“Defeasance
Accounts”: As defined in Section 3.18(j).

 

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

 

“Deficient
Exchange Act Deliverable”: With respect to the Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer, the Custodian, the Certificate Administrator, the Trustee and each Servicing Function Participant and
Additional Servicer retained by it (other than an Initial Sub-Servicer), any item (x) regarding such party, (y) prepared
by such party or any registered public accounting firm, attorney or other agent retained by such party to prepare such information
and (z) delivered by or on behalf of such party pursuant to the delivery requirements under Article XI of this
Agreement that does not conform to the applicable reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder.

 

“Deficient
Valuation”: With respect to any Mortgage Loan or Serviced Whole Loan, as applicable, a valuation by a court of competent
jurisdiction of the related Mortgaged Property in an amount less than the then outstanding principal balance of such Mortgage
Loan or Serviced Whole Loan which valuation results from a proceeding initiated under the Bankruptcy Code.

 

“Definitive
Certificate”: Any Certificate in definitive, fully registered form without interest coupons. Initially the Risk Retention
Certificates, the Class R Certificates and any Certificate issued pursuant to Section 5.02(c) and Section 5.02(d)
shall be Definitive Certificates. For the avoidance of doubt, any Risk Retention Certificate shall at all times during the Transfer
Restriction Period be a Definitive Certificate.

 

“Delinquent
Loan”: A Mortgage Loan that is delinquent at least sixty (60) days in respect of its Periodic Payments or Balloon
Payment, if any, in either case such delinquency to be determined without giving effect to any Grace Period.

 

“Denomination”:
With respect to any Certificate or any beneficial interest in a Certificate the amount (i) (a) set forth on the face
thereof, (b) set forth on a schedule attached thereto or (c) in the case of any beneficial interest in a Book-Entry
Certificate, the interest of the related Certificate Owner in the applicable Class of Certificates as reflected on the books and
records of the Depository or related Depository Participant, as applicable, (ii) expressed in terms

 

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of
initial Certificate Balance or initial Notional Amount, as applicable, and (iii) in an authorized denomination, as set forth
in Section 5.01(a).

 

“Depositor”:
Barclays Commercial Mortgage Securities LLC, a Delaware limited liability company, or its successor in interest.

 

“Depository”:
DTC, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates
that are to be Book-Entry Certificates, is Cede & Co. The Depository shall at all times be a “clearing corporation”
as defined in Section 8-102(3) of the UCC of the State of New York and a “clearing agency” registered pursuant
to the provisions of Section 17A of the Exchange Act.

 

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

 

“Designated
Intercreditor Agreement”: As defined in the definition of “Intercreditor Agreement”.

 

“Designated
Site”: The website to which Diligence Files are uploaded as designated by the Depositor to the Mortgage Loan Sellers.

 

“Determination
Date”: With respect to any Distribution Date, the eleventh (11th) day of each calendar month (or, if the eleventh
(11th) calendar day of that month is not a Business Day, then the next Business Day), commencing in July 2019.

 

“Diligence
File”: With respect to each Mortgage Loan or Companion Loan, if applicable, collectively the following documents in
electronic format:

 

(a)               
A copy of each of the following documents:

 

(i)               
the Mortgage Note, endorsed on its face or by allonge attached to the Mortgage Note, without recourse, to the order of the Trustee
or in blank and further showing a complete, unbroken chain of endorsement from the originator (or, if the original Mortgage Note
has been lost, an affidavit to such effect from the applicable Mortgage Loan Seller or another prior holder, together with a copy
of the Mortgage Note and an indemnity properly assigned and endorsed to the Trustee);

 

(ii)              
the Mortgage, together with a copy of any intervening Assignments of Mortgage, in each case, with evidence of recording indicated
thereon or certified to have been submitted for recording (if in the possession of the applicable Mortgage Loan Seller);

 

(iii)           
any related Assignment of Leases and of any intervening Assignments (if such item is a document separate from the Mortgage), in
each case, with evidence of recording indicated thereon or certified to have been submitted for recording (if in the possession
of the applicable Mortgage Loan Seller);

 

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(iv)            
all modification, consolidation, assumption, written assurance and substitution agreements in those instances in which the terms
or provisions of the Mortgage or Mortgage Note have been modified or the Mortgage Loan has been assumed or consolidated;

 

(v)             
the policy or certificate of lender’s title insurance issued on the date of the origination of such Mortgage Loan, or, if
such policy has not been issued or located, an irrevocable, binding commitment (which may be a marked version of the policy that
has been executed by an authorized representative of the title company or an agreement to provide the same pursuant to binding
escrow instructions executed by an authorized representative of the title company) to issue such title insurance policy;

 

(vi)             any
UCC financing statements, related amendments and continuation statements in the possession of the applicable Mortgage Loan Seller;

 

(vii)           any
Intercreditor Agreement relating to permitted debt of the Mortgagor, including any intercreditor agreement relating to a Serviced
Whole Loan;

 

(viii)         
any loan agreement, escrow agreement, security agreement or letter of credit relating to a Mortgage Loan or a Serviced Whole Loan;

 

(ix)            
any ground lease, related ground lessor estoppel, indemnity or guaranty relating to a Mortgage Loan or a Serviced Whole Loan;

 

(x)             
any property management agreement relating to a Mortgage Loan or a Serviced Whole Loan;

 

(xi)            
any franchise agreements and comfort letters or similar agreements relating to a Mortgage Loan or Serviced Whole Loan and, with
respect to any franchise agreement, comfort letter or similar agreement, any assignment of such agreements or any notice to the
franchisor of the transfer of a Mortgage Loan or Serviced Whole Loan;

 

(xii)          
any lock-box or cash management agreement relating to a Mortgage Loan or a Serviced Whole Loan;

 

(xiii)        
any related mezzanine intercreditor agreement;

 

(xiv)        
all related environmental reports; and

 

(xv)          
all related environmental insurance policies;

 

(b)              
a copy of any engineering reports or property condition reports;

 

(c)               
other than with respect to a hotel property (except with respect to tenanted commercial space within a hotel property), copies
of a rent roll;

 

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(d)          for any office, retail, industrial or warehouse property, a copy of all leases and estoppels and subordination and non-disturbance
agreements delivered to the related Mortgage Loan Seller;

 

(e)          a copy of all legal opinions (excluding attorney-client communications between the related Mortgage Loan Seller or an Affiliate
thereof, and its counsel that are privileged communications or constitute legal or other due diligence analyses), if any, delivered
in connection with the closing of the related Mortgage Loan;

 

(f)           a copy of all Mortgagor’s certificates of hazard insurance and/or hazard insurance policies or other applicable insurance
policies (to the extent not previously included as part of this definition), if any, delivered in connection with the closing
of the related Mortgage Loan;

 

(g)          a copy of the appraisal for the related Mortgaged Property or Mortgaged Properties;

 

(h)          for any Mortgage Loan that the related Mortgaged Property or Mortgaged Properties is leased to a single tenant, a copy of the
lease;

 

(i)           a copy of the applicable Mortgage Loan Seller’s asset summary;

 

(j)           a copy of all surveys for the related Mortgaged Property or Mortgaged Properties;

 

(k)          a copy of all zoning reports;

 

(l)           a copy of financial statements of the related Mortgagor;

 

(m)         a copy of operating statements for the related Mortgaged Property or Mortgaged Properties;

 

(n)          a copy of all UCC searches;

 

(o)          a copy of all litigation searches;

 

(p)          a copy of all bankruptcy searches;

 

(q)          a copy of any origination settlement statement;

 

(r)           a copy of the Insurance Summary Report;

 

(s)          a copy of the organizational documents of the related Mortgagor and any guarantor;

 

(t)           a copy of all escrow statements related to the escrow account balances as of the Mortgage Loan origination date;

 

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(u)          a copy of all related environmental reports that were received by the applicable Mortgage Loan Seller;

 

(v)          a copy of any closure letter (environmental); and

 

(w)         a copy of any environmental remediation agreement for the related Mortgaged Property or Mortgaged Properties;

 

in
each case, to the extent that the related originator received such documents in connection with the origination of such Mortgage
Loan. In the event any of the items identified above were not included in connection with the origination of such Mortgage Loan
(other than documents that would not be included in connection with the origination of the Mortgage Loan because such document
is inapplicable to the origination of a Mortgage Loan of that structure or type), the Diligence File shall include a statement
to that effect. No information that is proprietary to the related originator or Mortgage Loan Seller or any draft documents or
privileged or internal communications shall constitute part of the Diligence File. It is generally not required to include any
of the same items identified above again if such items have already been included under another clause of the definition of Diligence
File, and the Diligence File shall include a statement to that effect. The Mortgage Loan Seller may, without any obligation to
do so, include such other documents as part of the Diligence File that such Mortgage Loan Seller believes should be included to
enable the Asset Representations Reviewer to perform the Asset Review on such Mortgage Loan; provided that such documents
are clearly labeled and identified.

 

“Directing
Certificateholder”: With respect to (A) each Servicing Shift Mortgage Loan, the Directing Certificateholder shall be
the related Loan-Specific Directing Certificateholder and (B) each Mortgage Loan (other than the Servicing Shift Mortgage Loans
and any Excluded Loans), the initial Directing Certificateholder shall be KKR Real Estate Credit Opportunity Partners Aggregator
I L.P., a Delaware limited partnership. Thereafter, with respect to the Mortgage Loans described in clause (B) above, the Directing
Certificateholder shall be the Controlling Class Certificateholder (or a representative thereof) selected by more than 50% of
the Controlling Class Certificateholders (by Certificate Balance, as determined by the Certificate Registrar) from time to time;
provided, however, that (i) absent that selection, or (ii) until a Directing Certificateholder is so selected
or (iii) upon receipt of a notice from a majority of the Controlling Class Certificateholders, by Certificate Balance, that
a Directing Certificateholder is no longer designated, the Controlling Class Certificateholder that owns the largest aggregate
Certificate Balance of the Controlling Class (or a representative thereof) will be the Directing Certificateholder; provided,
however, that, in the case of this clause (iii), in the event that no one Holder owns the largest aggregate Certificate
Balance of the Controlling Class, then there will be no Directing Certificateholder until appointed in accordance with the terms
of this Agreement. After the occurrence and during the continuance of a Control Termination Event, the Directing Certificateholder
described in clause (B) above shall only retain its consultation rights to the extent specifically provided for herein. After
the occurrence and continuance of a Consultation Termination Event, there will be no Directing Certificateholder as described
in clause (B) above. The Depositor shall promptly provide the name and contact information for the initial Directing Certificateholder
upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information
provided by the Depositor. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity
of the

 

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Directing
Certificateholder has not changed until such parties receive written notice of a replacement of the Directing Certificateholder
from a party holding the requisite interest in the Controlling Class (as confirmed by the Certificate Registrar), or the resignation
of the then-current Directing Certificateholder.

 

“Directing
Certificateholder Approval Process”: As defined in Section 3.19(d).

 

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

 

“Disclosable
Special Servicer Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) and any related
Serviced Companion Loan (including any related REO Property), any compensation and other remuneration (including, without limitation,
in the form of commissions, brokerage fees, or rebates, or as a result of any other fee-sharing arrangement) received or retained
by the Special Servicer or any of its Affiliates that is paid by any Person (including, without limitation, the Trust, any Mortgagor,
any manager, any guarantor or indemnitor in respect of a Mortgage Loan or Serviced Companion Loan and any purchaser of any such
Mortgage Loan or Serviced Companion Loan or REO Property) in connection with the disposition, workout or foreclosure of any such
Mortgage Loan or Serviced Companion Loan, the management or disposition of such REO Property, and the performance by the Special
Servicer or any such Affiliate of any other special servicing duties under this Agreement, other than (1) any Permitted Special
Servicer/Affiliate Fees and (2) any compensation to which the Special Servicer is entitled pursuant to Section 3.11
of this Agreement.

 

“Disclosure
Parties”: As defined in Section 3.13(f).

 

“Discount
Rate”: As defined in Section 4.01(e).

 

“Dispute
Resolution Consultation”: As defined in Section 2.03(l)(iii).

 

“Dispute
Resolution Cut-off Date”: As defined in Section 2.03(l)(i).

 

“Disqualified
Non-U.S. Tax Person”: With respect to the Class R Certificates, any Non-U.S. Tax Person or its agent other than
(a) a Non-U.S. Tax Person that holds the Class R Certificates in connection with the conduct of a trade or business within
the United States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI or
(b) a Non-U.S. Tax Person that has delivered to both the transferor and the Certificate Registrar an

 

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opinion
of a nationally recognized tax counsel to the effect that the transfer of the Class R Certificates to it is in accordance with
the requirements of the Code and the regulations promulgated thereunder and that such transfer of the Class R Certificates will
not be disregarded for federal income tax purposes.

 

“Disqualified
Organization”: Any of (i) the United States, any State or political subdivision thereof, any possession of the
United States or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if
all of its activities are subject to tax and, except for Freddie Mac, a majority of its board of directors is not selected by
such governmental unit), (ii) a foreign government, any international organization or any agency or instrumentality of any
of the foregoing, (iii) any organization which is exempt from the tax imposed by Chapter 1 of the Code (including the
tax imposed by Section 511 of the Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1)
of the Code) with respect to the Class R Certificates (except certain farmers’ cooperatives described in Section 521
of the Code), (iv) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code and (v) any
other Person so designated by the Trustee or the Certificate Administrator based upon an Opinion of Counsel as provided to the
Trustee or the Certificate Administrator (at no expense to the Trustee or the Certificate Administrator) that the holding of an
Ownership Interest in a Class R Certificate by such Person may cause either Trust REMIC to fail to qualify as a REMIC at any time
that the Certificates are outstanding or any Person having an Ownership Interest in any Class of Certificates (other than such
Person) to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer
of an Ownership Interest in a Class R Certificate to such Person. The terms “United States,” “State” and
“international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.

 

“Distribution
Accounts”: Collectively, the Upper-Tier REMIC Distribution Account and the Lower-Tier REMIC Distribution Account
(and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

 

“Distribution
Date”: The fourth (4th) Business Day following each Determination Date, beginning in July 2019. The initial Distribution
Date shall be July 17, 2019.

 

“Distribution
Date Statement”: As defined in Section 4.02(a).

 

“Do
Not Hire List”: The list, as may be updated at any time, provided by the Depositor to the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or the Asset Representations Reviewer, which lists
certain parties identified by the Depositor as having failed to comply (after any applicable cure period) with their respective
obligations under Article XI of this Agreement or as having failed to comply (after any applicable cure period) with
any similar Regulation AB reporting requirements under any other securitization transaction. For the avoidance of doubt, as of
the Closing Date, no parties appear on the Do Not Hire List.

 

“Dodd-Frank
Act”: The Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended from time to time.

 

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“DTC”:
The Depository Trust Company, a New York corporation.

 

“Due
Date”: With respect to (i) any Mortgage Loan or Companion Loan, as applicable, on or prior to its Maturity Date,
the day of the month set forth in the related Mortgage Note on which each Periodic Payment thereon is scheduled to be first due,
(ii) any Mortgage Loan or Companion Loan, as applicable, after the Maturity Date therefor, the day of the month set forth
in the related Mortgage Note on which each Periodic Payment on such Mortgage Loan or Companion Loan, as applicable, had been scheduled
to be first due, and (iii) any REO Loan, the day of the month set forth in the related Mortgage Note on which each Periodic
Payment on the related Mortgage Loan or Companion Loan, as applicable, had been scheduled to be first due.

 

“EDGAR”:
As defined in Section 11.03.

 

“EDGAR-Compatible
Format”: With respect to (a) the Initial Schedule AL File, the Initial Schedule AL Additional File, the CREFC®
Schedule AL File and the Schedule AL Additional File, XML format or such other format as mutually agreed to between the
Depositor, Certificate Administrator and the Master Servicer and (b) any report, file or document other than those listed
in clause (a) above, any format compatible with EDGAR, including HTML, Word or clean, searchable PDFs.

 

“Eligible
Account”: Any of the following: (i) a segregated account or accounts maintained with a federal or state chartered
depository institution or trust company (including the Trustee or the Certificate Administrator), (A) the long-term deposit
rating or long-term unsecured debt obligations or deposits of which are rated at least “A-” by S&P, if the
deposits are to be held in such account for thirty (30) days or more, and the short-term debt obligations or deposits
of which have a short-term rating of not less than “A-1” from S&P, if the deposits are to be held in such
account for less than thirty (30) days and (B) the long-term unsecured debt obligations or deposits of which are
rated at least “A” by Fitch (to the extent rated by Fitch), if the deposits are to be held in such account for thirty (30)
days or more, and the short-term debt obligations or deposits of which have a short-term rating of not less than “F1”
from Fitch (to the extent rated by Fitch), if the deposits are to be held in such account for less than thirty (30) days;
(ii) an account or accounts maintained with Wells Fargo Bank, National Association so long as Wells Fargo Bank, National
Association’s long-term unsecured debt rating shall be at least “BBB” from S&P and “A-”
from Fitch (to the extent rated by Fitch) (if the deposits are to be held in the account for more than thirty (30) days)
or Wells Fargo Bank, National Association’s short-term deposit or short-term unsecured debt rating shall be at least
“A-1” from S&P (or “A-2” by S&P so long as the long-term unsecured debt obligations of such
depository institution or trust company are rated no less than “BBB” by S&P) and “F2” from Fitch (to
the extent rated by Fitch) (if the deposits are to be held in the account for thirty (30) days or less); (iii) an account
or accounts maintained with PNC Bank, National Association so long as PNC Bank, National Association’s long-term unsecured
debt or deposit account rating shall be at least “BBB” from S&P and “A” from Fitch (if the deposits
are to be held in the account for more than thirty (30) days) or PNC Bank, National Association’s short-term deposit account
or short-term unsecured debt rating shall be at least “A-1” from S&P (or “A-2” by S&P so long
as the long-term unsecured debt obligations of such depository institution or trust company are rated no less than “BBB”
by S&P) and “F-1” from Fitch (if the deposits are to be held in the account for thirty (30) days or less); (iv)
an account or accounts maintained with KeyBank National Association so long as KeyBank National

 

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Association’s
long-term unsecured debt or deposit account rating shall be at least “A-” from Fitch and “BBB+” from S&P
(if the deposits are to be held in the account for more than thirty (30) days) or KeyBank National Association’s short term
deposit account or short term unsecured debt rating shall be at least “F2” from Fitch and “A-1” by S&P
(or “A-2” by S&P so long as the long-term unsecured debt obligations of such depository institution or trust company
are rated no less than “BBB” by S&P) (if the deposits are to be held in the account for thirty (30) days or less);
(v) such other account or accounts that, but for the failure to satisfy one or more of the minimum rating(s) set forth in
the applicable clause, would be listed in clause (i) – (iv) above, with respect to which a Rating Agency Confirmation
has been obtained from each Rating Agency for which the minimum ratings set forth in the applicable clause is not satisfied with
respect to such account, which account may be an account maintained by or with the Certificate Administrator, the Trustee, the
Master Servicer or the Special Servicer; (vi) any other account or accounts not listed in clause (i) – (iv) above
with respect to which a Rating Agency Confirmation has been obtained from each and every Rating Agency and a confirmation of the
applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25), which account may be an account maintained by or with the Certificate Administrator, the Trustee, the
Master Servicer or the Special Servicer; or (vii) a segregated trust account or accounts maintained with the corporate trust
department of a federal or state chartered depository institution or trust company that has a long-term unsecured debt rating
of at least “A-” from S&P (if the deposits are to be held in the account for more than thirty (30) days)
or a short-term unsecured debt rating of at least “A-1” from S&P (if the deposits are to be held in the
account for thirty (30) days or less) and that, in either case, has corporate trust powers, acting in its fiduciary capacity,
provided that any state chartered depository institution or trust company is subject to regulation regarding fiduciary
funds substantially similar to 12 C.F.R. § 9.10(b). Eligible Accounts may bear interest. No Eligible Account shall be
evidenced by a certificate of deposit, passbook or other similar instrument.

 

“Eligible
Asset Representations Reviewer”: An institution that (a) is the special servicer, operating advisor or asset representations
reviewer on a transaction rated by any of Moody’s, Fitch, KBRA, S&P, DBRS or Morningstar and that has not been a special
servicer, operating advisor or asset representations reviewer on a transaction for which any of Moody’s, Fitch, KBRA, S&P,
DBRS and Morningstar has qualified, downgraded or withdrawn its rating or ratings of one or more classes of certificates for such
transaction citing servicing or other relevant concerns with such special servicer, operating advisor or asset representations
reviewer, as applicable, as the sole or material factor in such rating action, (b) can and will make the representations
and warranties set forth in Section 6.01(d), (c) is not (and is not affiliated (including Risk Retention Affiliated)
with) a Mortgage Loan Seller, an originator, the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Trustee, the Directing Certificateholder, the Third Party Purchaser or any of their respective Affiliates (including Risk
Retention Affiliates), (d) has not performed (and is not affiliated with any party hired to perform) any due diligence, loan
underwriting, brokerage, borrower advisory or similar services with respect to any Mortgage Loan or any related Companion Loan
prior to the Closing Date for or on behalf of any Mortgage Loan Seller, any Underwriter, the Third Party Purchaser, any party
to this Agreement, the Directing Certificateholder or any of their respective Affiliates, or have been paid any fees, compensation
or other remuneration by any of them in connection with

 

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any
such services, and (e) does not directly or indirectly, through one or more Affiliates or otherwise, own any interest in
any Certificates, any Mortgage Loans, any Companion Loan or any securities backed by a Companion Loan or otherwise have any financial
interest in the securitization transaction to which this Agreement relates, other than in fees from its role as Asset Representations
Reviewer (or as Operating Advisor, if applicable).

 

“Eligible
Operating Advisor”: An institution (a) that is a special servicer or operating advisor on a commercial mortgage-backed
securities transaction rated by the Rating Agencies (including, in the case of the Operating Advisor, this transaction) but has
not been a special servicer or operating advisor on a transaction for which any Rating Agency has qualified, downgraded or withdrawn
its rating or ratings of one or more classes of certificates for such transaction citing servicing or other relevant concerns
with the Operating Advisor in its capacity as the special servicer or operating advisor, as applicable, as the sole or a material
factor in such rating action; (b) that can and will make the representations and warranties of the Operating Advisor set
forth in Section 6.01(c) of this Agreement; (c) that is not (and is not affiliated (including Risk Retention Affiliated)
with) the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, a Mortgage Loan Seller,
the Directing Certificateholder, the Third Party Purchaser or a depositor, a trustee, a certificate administrator, a master servicer
or a special servicer with respect to the securitization of a Companion Loan, or any of their respective Affiliates (including
Risk Retention Affiliates); (d) that has not been paid by the Special Servicer or successor special servicer any fees, compensation
or other remuneration (x) in respect of its obligations hereunder or (y) for the appointment or recommendation for replacement
of a successor special servicer to become a special servicer under this Agreement; (e) that (i) has been regularly engaged
in the business of analyzing and advising clients in commercial mortgage-backed securities matters and has at least five (5) years
of experience in collateral analysis and loss projections and (ii) has at least five (5) years of experience in commercial
real estate asset management and experience in the workout and management of distressed commercial real estate assets; and (f) that
does not directly or indirectly, through one or more Affiliates or otherwise, own or have derivative exposure in any interest
in any Certificates, any Mortgage Loan, any Companion Loan or securities backed by a Companion Loan or otherwise have any financial
interest in the securitization transaction to which this Agreement relates, other than in fees from its role as Operating Advisor
and Asset Representations Reviewer (to the extent it also acts as the Asset Representations Reviewer).

 

“Enforcing
Party”: The person obligated to or that elects pursuant to Section 2.03 to enforce the rights of the Trust against
the related Mortgage Loan Seller with respect to the Repurchase Request.

 

“Enforcing
Servicer”: (a) With respect to a Specially Serviced Loan, the Special Servicer, and (b) with respect to a
Non-Specially Serviced Loan, (i) in the case of a Repurchase Request made by Special Servicer, the Directing Certificateholder
or a Controlling Class Certificateholder, the Master Servicer, and (ii) in the case of a Repurchase Request made by any person
other than the Special Servicer, the Directing Certificateholder or a Controlling Class Certificateholder, (A) prior to the
Resolution Failure relating to such Non-Specially Serviced Loan, the Master Servicer, and (B) from and after a Resolution
Failure relating to such Non-Specially Serviced Loan, the Special Servicer.

 

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“Environmental
Assessment”: An “environmental site assessment” as such term is defined in, and meeting the criteria of,
the American Society of Testing Materials Standard Section E 1527-00, or any successor thereto.

 

“Environmental
Indemnity Agreement”: With respect to any Mortgage Loan, any agreement between the Mortgagor (or a guarantor thereof)
and the originator of such Mortgage Loan relating to the Mortgagor’s obligation to remediate or monitor or indemnify for
any environmental problems relating to the related Mortgaged Property.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA
Plan”: As defined in Section 5.03(t).

 

“ERISA
Restricted Certificate”: Any Certificate (other than a Class R Certificate) that does not meet the requirements of Final
Authorization Number 04-03E (as such exemption may be amended from time to time) as of the date of the acquisition of such Certificate
by a Plan. As of the Closing Date, each of the Class F-RR, Class G-RR, Class H-RR and Class J-RR Certificates is an ERISA Restricted
Certificate.

 

“Escrow
Payment”: Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application
toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the
related Mortgaged Property, including amounts for deposit to any reserve account.

 

“EU
Retention Rules”: European Union legislation comprising Regulation (EU) 2017/2402 and related regulatory technical standards.

 

“Euroclear”:
The Euroclear System or any successor thereto.

 

“Excess
Modification Fee Amount”: With respect to either the Master Servicer or the Special Servicer, any Corrected Loan and
any particular modification, waiver, extension or amendment with respect to such Corrected Loan that gives rise to the payment
of a Workout Fee, an amount equal to the aggregate of any Excess Modification Fees paid by or on behalf of the related Mortgagor
with respect to the related Mortgage Loan (including the related Serviced Companion Loan, if applicable, unless prohibited under
the related Intercreditor Agreement) and received and retained by the Master Servicer or the Special Servicer, as applicable,
as compensation within the prior twelve (12) months of such modification, waiver, extension or amendment, but only to the
extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee.

 

“Excess
Modification Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole
Loan, the sum of (A) the excess, if any, of (i) any and all Modification Fees with respect to a modification, waiver,
extension or amendment of any of the terms of such Mortgage Loan or Serviced Whole Loan, as applicable, over (ii) all unpaid
or unreimbursed additional expenses (including, without limitation, reimbursement of Advances and interest on Advances to the
extent not otherwise paid or reimbursed by the Mortgagor but excluding Special Servicing Fees, Workout Fees and Liquidation Fees)
outstanding or previously incurred on behalf of the Trust with respect to the related Mortgage Loan or Serviced

 

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Whole
Loan, as applicable, and reimbursed from such Modification Fees and (B) expenses previously paid or reimbursed from Modification
Fees as described in the preceding clause (A), which expenses have been recovered from the related Mortgagor or otherwise.
With respect to each of the Master Servicer and the Special Servicer, the Excess Modification Fees collected and earned by such
Person from the related Mortgagor (taken in the aggregate with any other Excess Modification Fees collected and earned by such
Person from the related Mortgagor within the prior twelve (12) months of the collection of the current Excess Modification
Fees) will be subject to a cap of 1.0% of the outstanding principal balance of the related Mortgage Loan or Serviced Whole Loan,
as applicable, on the closing date of the related modification, extension, waiver or amendment (after giving effect to such modification,
extension, waiver or amendment) with respect to any Mortgage Loan or Serviced Whole Loan, as applicable.

 

“Excess
Prepayment Interest Shortfall”: The aggregate of any Prepayment Interest Shortfalls resulting from any Principal Prepayments
made on the Mortgage Loans to be included in the Available Funds for any Distribution Date that are not covered by the Master
Servicer’s Compensating Interest Payment for the related Distribution Date and the portion of the compensating interest
payments allocable to any Non-Serviced Mortgage Loan to the extent received from the related Non-Serviced Master Servicer.

 

“Exchange
Act”: The Securities Exchange Act of 1934, as amended from time to time and the rules and regulations of the Commission
thereunder.

 

“Excluded
Controlling Class Holder”: With respect to any Excluded Loan, the Directing Certificateholder or any Controlling Class
Certificateholder, as applicable, that is a Borrower Party with respect to such Excluded Loan. Promptly upon obtaining actual
knowledge of the Directing Certificateholder or any Controlling Class Certificateholder becoming an “Excluded Controlling
Class Holder”, such Directing Certificateholder or Controlling Class Certificateholder, as applicable, shall provide notice
in the form of Exhibit P-1E hereto to the Master Servicer, the Special Servicer, the Operating Advisor, the Trustee
and the Certificate Administrator, which notice shall be physically delivered in accordance with Section 13.05 of this
Agreement and shall specifically identify the Excluded Controlling Class Holder and the subject Excluded Loan. Additionally, any
Excluded Controlling Class Holder shall also send to the Certificate Administrator a notice substantially in the form of Exhibit P-1F
hereto, which notice shall provide each of the CTSLink User ID associated with such Excluded Controlling Class Holder, and
which notice shall direct the Certificate Administrator to restrict such Excluded Controlling Class Holder’s access to the
Certificate Administrator’s Website as and to the extent provided in this Agreement. As of the Closing Date, there are no
Excluded Controlling Class Holders related to the Trust.

 

“Excluded
Information”: With respect to any Excluded Loan, any information solely related to such Excluded Loan, which shall include
any Asset Status Reports, Final Asset Status Reports (or summaries thereof), inspection reports related to Specially Serviced
Loans conducted by the Special Servicer or any Excluded Special Servicer and which may include any Operating Advisor reports delivered
to the Certificate Administrator regarding the Special Servicer’s net present value determination or any Appraisal Reduction
Amount calculations delivered pursuant to Section 3.26(e), and any Officer’s Certificates delivered by the Trustee,
the Master Servicer or the Special Servicer, supporting any determination that any Advance was (or,

 

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if
made, would be) a Nonrecoverable Advance, or such other information and reports designated as Excluded Information by the Special
Servicer, the Master Servicer or the Operating Advisor, as applicable, but in each case other than information with respect to
such Excluded Loan that is aggregated with information of other Mortgage Loans at a pool level. For the avoidance of doubt, any
file or report contained in the CREFC® Investor Reporting Package (CREFC® IRP) (other than the CREFC®
Special Servicer Loan File relating to any Excluded Loan) and any Schedule AL Additional File shall not be considered “Excluded
Information”. Each of the Master Servicer, the Special Servicer and the Operating Advisor shall deliver any Excluded Information
to the Certificate Administrator in accordance with Section 3.33. For the avoidance of doubt, the Certificate Administrator’s
obligation to segregate any information delivered to it under the “Excluded Information” tab on the Certificate Administrator’s
Website shall be triggered solely by such information being delivered in the manner provided in Section 3.26.

 

“Excluded
Loan”: Any Mortgage Loan or Whole Loan with respect to which, as of any date of determination, the Directing Certificateholder
or (except for purposes of determining whether a Servicing Shift Mortgage Loan or Servicing Shift Whole Loan is an Excluded Loan
with respect to the related Loan-Specific Directing Certificateholder) the Holder of the majority of the Controlling Class or
any Controlling Class Certificateholder is a Borrower Party. As of the Closing Date, there are no Excluded Loans related to the
Trust.

 

“Excluded
Special Servicer”: With respect to any Excluded Special Servicer Loan, a replacement special servicer that is not a
Borrower Party and satisfies all of the eligibility requirements applicable to the Special Servicer set forth in Section 7.01
(g). As of the Closing Date, there are no Excluded Special Servicers related to the Trust.

 

“Excluded
Special Servicer Information”: With respect to any Excluded Special Servicer Loan, any information solely related to
such Excluded Special Servicer Loan and/or the related Mortgaged Properties, which shall include the Asset Status Reports, Final
Asset Status Reports (or summaries thereof), any Operating Advisor reports delivered to the Certificate Administrator regarding
an Excluded Special Servicer’s net present value determination or any Appraisal Reduction Amount calculations delivered
pursuant to Section 3.26(e), and any Officer’s Certificates delivered by the Master Servicer or the applicable Excluded
Special Servicer supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance, or such other
information and reports designated as Excluded Special Servicer Information by the applicable Excluded Special Servicer, the Master
Servicer or the Operating Advisor, as applicable, in each case, other than information with respect to such Excluded Special Servicer
Loan(s) that is aggregated with information with respect to the other Mortgage Loans at a pool level. For the avoidance of doubt,
any file or report contained in the CREFC® Investor Reporting Package (CREFC® IRP) (other than the
CREFC® Special Servicer Loan File relating to any Excluded Special Servicer Loan) and any Schedule AL Additional
File shall not be considered “Excluded Special Servicer Information”.

 

“Excluded
Special Servicer Loan”: Any Mortgage Loan or Serviced Whole Loan with respect to which, as of any date of determination,
the Special Servicer obtains knowledge that it has become a Borrower Party. For the avoidance of doubt, there are no Excluded
Special Servicer Loans related to the Trust as of the Closing Date.

 

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“Extended
Cure Period”: As defined in Section 2.03(b).

 

“Fannie
Mae”: Federal National Mortgage Association or any successor thereto.

 

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

 

“Final
Asset Status Report”: With respect to any Specially Serviced Loan, the final iteration of the related Asset Status Report,
together with such other data or supporting information provided by the Special Servicer to the Directing Certificateholder or
the AB Whole Loan Controlling Holder, which does not include any communication (other than the related Asset Status Report) between
the Special Servicer and Directing Certificateholder or between the Special Servicer and the AB Whole Loan Controlling Holder
with respect to such Specially Serviced Loan required to be delivered by the Special Servicer by the Initial Delivery Date and
any Subsequent Asset Status Report, in each case, in the form fully approved or deemed approved, if applicable, by the Directing
Certificateholder pursuant to the Directing Certificateholder Approval Process or following completion of the ASR Consultation
Process, as applicable, or by the AB Whole Loan Controlling Holder (to the extent required by the terms of the related AB Intercreditor
Agreement). The Special Servicer shall notify the Operating Advisor of whether any Asset Status Report delivered to the Operating
Advisor is a Final Asset Status Report, which notification may be satisfied by (i) delivery of an Asset Status Report that is
either signed by the Directing Certificateholder or that otherwise includes an indication that such Asset Status Report is deemed
approved due to the passage of any required consent or consultation time period or (ii) such other method as reasonably agreed
to by the Operating Advisor and the Special Servicer. For the avoidance of doubt, the Special Servicer may issue more than one
Final Asset Status Report with respect to any Specially Serviced Loan in accordance with the procedures described above. The Operating
Advisor is only required to review Final Asset Status Reports delivered to it by the Special Servicer.

 

“Final
Dispute Resolution Election Notice”: As defined in Section 2.03(l)(iii).

 

“Final
Recovery Determination”: A reasonable determination by the Special Servicer, in consultation with the Directing Certificateholder
if related to a Mortgage Loan other than an Excluded Loan and made prior to the occurrence and continuance of a Consultation Termination
Event, with respect to any Defaulted Loan (and, if applicable, any defaulted Companion Loan) or Corrected Loan or REO Property
(other than a Mortgage Loan or REO Property, as the case may be, that was purchased by (i) any of the Mortgage Loan Sellers
pursuant to Section 5 of the applicable Mortgage Loan Purchase Agreement, (ii) the Special Servicer or other person
pursuant to Section 3.16(b), any Companion Holder or any mezzanine lender pursuant to Section 3.16 or (iii) the
Master Servicer, the Special Servicer, the Holders of the Controlling Class, or the Holders of the Class R Certificates pursuant
to Section 9.01) that there has been a recovery of all Insurance and Condemnation Proceeds, Liquidation Proceeds, REO Revenue
and other payments or recoveries that, in the Special Servicer’s judgment, which judgment was exercised without regard to
any obligation of the Special Servicer to make payments from its own funds pursuant to Section 3.07(b), will ultimately
be recoverable. With respect to all Mortgage Loans other than Excluded Loans, prior to the occurrence and continuance of any Control
Termination Event, the Directing Certificateholder shall have ten (10) Business Days to review and approve each such recovery
determination by the Special Servicer; provided, however, that if

 

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the
Directing Certificateholder fails to approve or disapprove any recovery determination within ten (10) Business Days of receipt
of the initial recovery determination, such consent shall be deemed given.

 

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

 

“Form 8-K
Disclosure Information”: As defined in Section 11.07.

 

“Form 15
Suspension Notification”: As defined in Section 11.08.

 

“Freddie
Mac”: Federal Home Loan Mortgage Corporation or any successor thereto.

 

“Gain-on-Sale
Entitlement Amount”: With respect to each Distribution Date, the aggregate amount of (i) the sum of (a) the
aggregate portion of the Interest Distribution Amount for each Class of Regular Certificates that would remain unpaid as of the
close of business on such Distribution Date, and (b) the amount by which the Principal Distribution Amount exceeds the aggregate
amount that would actually be distributed on the Distribution Date in respect of such Principal Distribution Amount, and (ii) any
Realized Losses outstanding immediately after such Distribution Date, in each case, to the extent such amounts would occur on
such Distribution Date or would be outstanding immediately after such Distribution Date, as applicable, without the inclusion
of the Gain-on-Sale Remittance Amount as part of the definition of Available Funds.

 

“Gain-on-Sale
Proceeds”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan), the excess of (i) Liquidation
Proceeds net of any related Liquidation Expenses (or the portion of such net Liquidation Proceeds payable to the related Mortgage
Loan pursuant to the related Intercreditor Agreement) over (ii) the Purchase Price for such Mortgage Loan on the date on
which Liquidation Proceeds were received. Gain-on-Sale Proceeds shall exclude any amounts allocated as a Yield Maintenance Charge,
Prepayment Premium, recovery of any late payment charges and default interest or recovery of any assumption fees and Modification
Fees pursuant to Section 3.02(a), Section 3.02(b) and Section 3.02(c).

 

“Gain-on-Sale
Remittance Amount”: With respect to each Distribution Date, an amount equal to the lesser of (i) the amount on
deposit in the Gain-on-Sale Reserve Account on such Distribution Date, and (ii) the Gain-on-Sale Entitlement Amount.

 

“Gain-on-Sale
Reserve Account”: A custodial account or accounts (or subaccount of the Distribution Account) created and maintained
by the Certificate Administrator, pursuant to Section 3.04(e) on behalf of the Trustee for the benefit of the Certificateholders,
which shall initially be entitled “Wells Fargo Bank, National Association, as Certificate Administrator, on behalf of Wells
Fargo Bank, National Association, as Trustee, for the benefit of the registered holders of BBCMS Mortgage Trust 2019-C3, Commercial
Mortgage Pass-Through Certificates,

 

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Series
2019-C3, Gain-on-Sale Reserve Account”. Any such account shall be an Eligible Account or a subaccount of an Eligible
Account.

 

“Grace
Period”: The number of days before a payment default is an event of default under the related Mortgage Loan.

 

“Ground
Lease”: The ground lease pursuant to which any Mortgagor holds a leasehold interest in the related Mortgaged Property
and any estoppels or other agreements executed and delivered by the ground lessor in favor of the lender under the Mortgage Loan.

 

“Hazardous
Materials”: Any dangerous, toxic or hazardous pollutants, chemicals, wastes or substances, including, without limitation,
those so identified pursuant to CERCLA or any other federal, state or local environmental related laws and regulations, and specifically
including, without limitation, asbestos and asbestos-containing materials, polychlorinated biphenyls, radon gas, petroleum
and petroleum products, urea formaldehyde and any substances classified as being “in inventory,” “usable work
in process” or similar classification which would, if classified as unusable, be included in the foregoing definition.

 

“Horizontal
Risk Retention Certificates”: Individually and collectively the Class E-RR, Class F-RR, Class G-RR, Class H-RR and Class
J-RR Certificates.

 

“Impermissible
Risk Retention Affiliate”: As defined in Section 3.31.

 

“Impermissible
TPP Affiliate”: As defined in Section 3.31.

 

“Independent”:
When used with respect to any accountants, a Person who is “independent” within the meaning of Rule 2-01(b)
of the Commission’s Regulation S-X. When used with respect to any specified Person, any such Person who (i) is
in fact independent of the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, the Special Servicer, the
Directing Certificateholder, the Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone or together
with one or more other Mortgage Loans)), the Operating Advisor, the Asset Representations Reviewer and all Affiliates thereof,
(ii) does not have any material direct financial interest in or any material indirect financial interest in any of the Trustee,
the Certificate Administrator, the Depositor, the Master Servicer, the Special Servicer, the Directing Certificateholder, the
Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone or together with one or more other Mortgage
Loans)), the Operating Advisor, the Asset Representations Reviewer or any Affiliate thereof and (iii) is not connected with
the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, the Special Servicer, the Directing Certificateholder,
the Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone or together with one or more other
Mortgage Loans)), the Operating Advisor, the Asset Representations Reviewer or any Affiliate thereof as an officer, employee,
promoter, underwriter, trustee, partner, director or Person performing similar functions; provided, however, that
a Person shall not fail to be Independent of the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, the
Special Servicer, the Directing Certificateholder, the Companion Holders or any Affiliate thereof merely because such Person is
the beneficial owner of 1% or less of any Class of securities issued by the Trustee, the Certificate Administrator, the Depositor,
the Master Servicer, the Special Servicer, the Operating Advisor, the

 

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Asset
Representations Reviewer, the Directing Certificateholder, the Companion Holders or any Affiliate thereof, as the case may be,
so long as such ownership constitutes less than 1% of the total assets of such Person. For the avoidance of doubt, the exception
in the proviso above for ownership of 1% or less of any Class of Certificates shall not apply with respect to the Operating Advisor
or the Asset Representations Reviewer.

 

“Independent
Contractor”: Either (i) any Person that would be an “independent contractor” with respect to the Trust
within the meaning of Section 856(d)(3) of the Code if the Trust were a real estate investment trust (except that the ownership
test set forth in that Section shall be considered to be met by any Person that owns, directly or indirectly, 35% or more
of any Class of Certificates, or such other interest in any Class of Certificates as is set forth in an Opinion of Counsel, which
shall be at no expense to the Trustee, the Certificate Administrator, the Master Servicer, any Companion Holder or the Trust,
delivered to the Trustee, any Companion Holder, the Certificate Administrator and the Master Servicer), so long as the Trust does
not receive or derive any income from such Person and provided that the relationship between such Person and the Trust
is at arm’s length, all within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except that neither the
Master Servicer nor the Special Servicer shall be considered to be an Independent Contractor under the definition in this clause (i)
unless an Opinion of Counsel has been delivered to the Trustee and the Certificate Administrator to that effect) or (ii) any
other Person (including the Master Servicer or the Special Servicer) upon receipt by the Trustee, the Certificate Administrator,
the Operating Advisor and the Master Servicer of an Opinion of Counsel, which shall be at no expense to the Trustee, the Certificate
Administrator, the Master Servicer, the Operating Advisor or the Trust, to the effect that the taking of any action in respect
of any REO Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated to be taken
by an Independent Contractor will not cause such REO Property to cease to qualify as “foreclosure property” within
the meaning of Section 860G(a)(8) of the Code or cause any income realized in respect of such REO Property to fail to qualify
as Rents from Real Property.

 

“Initial
Cure Period”: As defined in Section 2.03(b).

 

“Initial
Delivery Date”: As defined in Section 3.19(d).

 

“Initial
Purchasers”: Barclays Capital Inc., UBS Securities LLC, SG Americas Securities, LLC, Natixis Securities Americas LLC
and Drexel Hamilton, LLC.

 

“Initial
Requesting Certificateholder”: The first Certificateholder or Certificate Owner to deliver a Certificateholder Repurchase
Request as described in Section 2.03(k) with respect to a Mortgage Loan. For the avoidance of doubt, there may not be more
than one Initial Requesting Certificateholder with respect to any Mortgage Loan.

 

“Initial
Schedule AL Additional File”: The data file prepared by or on behalf of the Depositor containing additional information
or schedules regarding data points in the Initial Schedule AL File in accordance with Item 1111(h)(4) of Regulation AB and Item
601(b)(103) of Regulation S-K under the Securities Act and filed as Exhibit 103 to the Form ABS-EE incorporated by reference
into the Prospectus.

 

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“Initial
Schedule AL File”: The data file(s) prepared by, or on behalf of, the Depositor containing the information required
by Item 1111(h)(3) or Item 1125 of Regulation AB or Item 601(b)(102) of Regulation S-K under the Securities Act and filed as Exhibit 102
and, if applicable, Exhibit 103 to the Form ABS-EE incorporated by reference into the Prospectus.

 

“Initial
Sub-Servicer”: With respect to each Mortgage Loan that is subject to a Sub-Servicing Agreement with the Master
Servicer as of the Closing Date, the Sub-Servicer under any such Sub-Servicing Agreement. As of the Closing Date, each
entity listed on Exhibit FF is an Initial Sub-Servicer.

 

“Initial
Sub-Servicing Agreement”: Any Sub-Servicing Agreement in effect as of the Closing Date.

 

“Inquiry”
and “Inquiries”: As each is defined in Section 4.07(a).

 

“Institutional
Accredited Investor”: An institutional investor which is an “accredited investor” within the meaning of
paragraphs (1), (2), (3) or (7) of Rule 501(a) of Regulation D under the Act or any entity in which all of the
equity owners come within such paragraphs.

 

“Insurance
and Condemnation Proceeds”: All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation
of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged
Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard
(and in the case of any Mortgage Loan with a related Companion Loan, to the extent that any portion of such proceeds are received
by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth
in the related Intercreditor Agreement) and the REMIC Provisions.

 

“Insurance
Summary Report”: With respect to each Mortgage Loan, a report or other summary prepared either by the related Mortgage
Loan Seller or a third party insurance consultant on behalf of the related Mortgage Loan Seller that provides a summary of all
insurance policies covering the related Mortgaged Property(ies), identifying the insurance provider, applicable ratings of each
such provider and the amount of coverage and any applicable deductible.

 

“Insurance
Policy”: With respect to any Mortgage Loan, any hazard insurance policy, flood insurance policy, title policy or other
insurance policy that is maintained from time to time in respect of such Mortgage Loan or the related Mortgaged Property.

 

“Intercreditor
Agreement”: Each intercreditor agreement, co-lender agreement or other similar agreement between noteholders relating
to a Whole Loan described in the table under the heading “Whole Loans” in the Preliminary Statement hereto (each of
such agreements, a “Designated Intercreditor Agreement”), and any intercreditor agreement entered into in connection
with the issuance to the direct or indirect equity holders in the Mortgagor of any existing mezzanine indebtedness or any future
mezzanine indebtedness permitted under the related Mortgage Loan documents.

 

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“Interest
Accrual Amount”: With respect to any Distribution Date and any Class of Regular Certificates, the amount of interest
for the related Interest Accrual Period accrued at the Pass-Through Rate for such Class of Certificates on the Certificate
Balance or Notional Amount, as applicable, for such Class immediately prior to that Distribution Date. Calculations of interest
for each Interest Accrual Period will be made on 30/360 basis.

 

“Interest
Accrual Period”: For each Distribution Date, the calendar month prior to the month in which that Distribution Date occurs.

 

“Interest
Distribution Amount”: With respect to any Class of Regular Certificates for any Distribution Date, an amount equal to
(A) the sum of (i) the Interest Accrual Amount with respect to such Class of Certificates for such Distribution Date
and (ii) the Interest Shortfall, if any, with respect to such Class of Certificates for such Distribution Date, less (B) any
Excess Prepayment Interest Shortfall allocated to such Class of Certificates on such Distribution Date.

 

For
purposes of clause (B) above, the Excess Prepayment Interest Shortfall, if any, for each Distribution Date shall be allocated
to each Class of Regular Certificates in an amount equal to the product of (i) the amount of such Excess Prepayment Interest
Shortfall and (ii) a fraction, the numerator of which is the Interest Accrual Amount for such Class for such Distribution
Date and the denominator of which is the aggregate Interest Accrual Amounts for all Classes of Regular Certificates for such Distribution
Date.

 

“Interest
Reserve Account”: The trust account or subaccount of the Distribution Account created and maintained by the Certificate
Administrator pursuant to Section 3.04(b) initially in the name of “Wells Fargo Bank, National Association, as Certificate
Administrator, on behalf of Wells Fargo Bank, National Association, as Trustee, for the benefit of the registered holders of BBCMS
Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, Interest Reserve Account”, into
which the amounts set forth in Section 3.21 shall be deposited directly and which must be an Eligible Account or subaccount
of an Eligible Account.

 

“Interest
Shortfall”: With respect to any Distribution Date for any Class of Regular Certificates, the sum of (a) the portion
of the Interest Distribution Amount for such Class of Certificates remaining unpaid as of the close of business on the preceding
Distribution Date, and (b) to the extent permitted by applicable law, (i) other than in the case of Class X Certificates,
one month’s interest on that amount remaining unpaid at the Pass-Through Rate applicable to such Class of Certificates
for the current Distribution Date and (ii) in the case of the Class X Certificates, one-month’s interest on that
amount remaining unpaid at the Weighted Average Net Mortgage Rate for such Distribution Date.

 

“Interested
Person”: As of the date of any determination, the Depositor, the Master Servicer, the Special Servicer, the Operating
Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Directing Certificateholder, any
Sponsor, any Borrower Party, any Independent Contractor engaged by the Special Servicer, or any known Affiliate of any of the
preceding entities. With respect to a Whole Loan if it is a Defaulted Loan, the Depositor, the Master Servicer, the Special Servicer
(or any Independent Contractor engaged by the Special Servicer), or the trustee for the securitization of a Companion Loan, and
each related Companion

 

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Holder
or its representative, any holder of a related mezzanine loan, or any known Affiliate of any such party described above.

 

“Investment
Account”: As defined in Section 3.06(a).

 

“Investment
Representation Letter”: As defined in Section 5.03(e), a form of which is attached hereto as Exhibit C.

 

“Investor
Certification”: A certificate (which may be in electronic form) substantially in the form of Exhibit P-1A,
Exhibit P-1B, Exhibit P-1C or Exhibit P-1D to this Agreement or in the form of
an electronic certification contained on the Certificate Administrator’s Website (which may be a click-through confirmation),
representing (i) that such Person executing the certificate is a Certificateholder, the Directing Certificateholder (to the
extent such Person is not a Certificateholder), a beneficial owner of a Certificate, a prospective purchaser of a Certificate
or a Companion Holder (or any investment advisor, manager or other representative of the foregoing), (ii) that either (a) such
Person is not a Borrower Party, in which case such Person shall have access to all the reports and information made available
to Certificateholders via the Certificate Administrator’s Website hereunder, or (b) such Person is a Borrower Party
in which case (1) if such Person is the Directing Certificateholder or a Controlling Class Certificateholder, such Person
shall have access to all the reports and information made available to Certificateholders via the Certificate Administrator’s
Website hereunder other than any Excluded Information as set forth herein or (2) if such Person is not the Directing Certificateholder
or a Controlling Class Certificateholder, such Person shall only receive access to the Distribution Date Statements to Certificateholders
prepared by the Certificate Administrator, (iii) (other than with respect to a Companion Holder) that such Person has received
a copy of the final Prospectus and (iv) such Person agrees to keep any Privileged Information confidential and will not violate
any securities laws; provided, however, that any Excluded Controlling Class Holder (i) shall be permitted to
reasonably request and obtain in accordance with Section 4.02(f) of this Agreement any Excluded Information relating to
any Excluded Loan with respect to which such Excluded Controlling Class Holder is not a Borrower Party (if such Excluded Information
is not otherwise available to such Excluded Controlling Class Holder via the Certificate Administrator’s Website on account
of it constituting Excluded Information) and (ii) shall be considered a Privileged Person for all other purposes, except
with respect to its ability to obtain information with respect to any related Excluded Loan. The Certificate Administrator may
require that Investor Certifications be re-submitted from time to time in accordance with its policies and procedures and
shall restrict access to the Certificate Administrator’s Website to any mezzanine lender upon notice from any party to this
Agreement that such mezzanine lender has become an Accelerated Mezzanine Loan Lender.

 

“Investor
Q&A Forum”: As defined in Section 4.07(a).

 

“Investor
Registry”: As defined in Section 4.07(b).

 

“KBRA”:
Kroll Bond Rating Agency, Inc., and its successors in interest. If neither KBRA nor any successor remains in existence, “KBRA”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the Trustee, the Certificate

 

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Administrator,
the Master Servicer, the Directing Certificateholder and the Special Servicer and specific ratings of KBRA herein referenced shall
be deemed to refer to the equivalent ratings of the party so designated.

 

“KeyBank”:
KeyBank National Association, a national banking association, or its successor in interest.

 

“Late
Collections”: With respect to any Mortgage Loan, Whole Loan or Companion Loan, all amounts received thereon prior to
the related Determination Date, whether as payments, Insurance and Condemnation Proceeds, Liquidation Proceeds or otherwise, which
represent late payments or collections of principal or interest due in respect of such Mortgage Loan, Whole Loan or Companion
Loan, as applicable (without regard to any acceleration of amounts due thereunder by reason of default), on a Due Date prior to
the immediately preceding Determination Date and not previously recovered. With respect to any REO Loan, all amounts received
in connection with the related REO Property prior to the related Determination Date, whether as Insurance and Condemnation Proceeds,
Liquidation Proceeds, REO Revenues or otherwise, which represent late collections of principal or interest due or deemed due in
respect of such REO Loan or the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable (without regard to any
acceleration of amounts due under the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable, by reason of default),
on a Due Date prior to the immediately preceding Determination Date and not previously recovered. The term “Late Collections”
shall specifically exclude Penalty Charges. With respect to any Whole Loan, as used in this Agreement, Late Collections shall
refer to such portion of Late Collections to the extent allocable to the related Mortgage Loan or related Companion Loan, as applicable,
pursuant to the terms of the related Intercreditor Agreement.

 

“Legal
Fee Reserve Account”: The account created and maintained by the Certificate Administrator pursuant to Section 3.04(b),
in the name of the “Legal Fee Reserve Account”, into which the amounts set forth in Section 3.04(b) shall be
deposited directly and which must be an Eligible Account.

 

“Liquidation
Event”: With respect to any Mortgage Loan or with respect to any REO Property (and the related REO Loan), any of the
following events: (i) such Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made with respect to
such Mortgage Loan; (iii) such Mortgage Loan is repurchased by the applicable Mortgage Loan Seller pursuant to Section 5
of the related Mortgage Loan Purchase Agreement; (iv) such Mortgage Loan is purchased by the Special Servicer, or by any
Companion Holder or any mezzanine lender (as applicable) pursuant to Section 3.16 (and the related Intercreditor Agreement,
as applicable); (v) such Mortgage Loan is purchased by the Special Servicer, the Master Servicer, the Holders of the majority
of the Controlling Class or the Holders of the Class R Certificates pursuant to Section 9.01 or acquired by the Sole Certificateholder
in exchange for its Certificates pursuant to Section 9.01; or (vi) such Mortgage Loan is sold by the Special Servicer
pursuant to the terms of this Agreement.

 

“Liquidation
Expenses”: All customary, reasonable and necessary “out of pocket” costs and expenses incurred by the Special
Servicer in connection with a liquidation of any Specially Serviced Loan or REO Property (except with respect to a Non-Serviced
Mortgaged

 

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Property)
pursuant to Section 3.16 (including, without limitation, legal fees and expenses, committee or referee fees and, if applicable,
brokerage commissions and conveyance taxes).

 

“Liquidation
Fee”: A fee payable to (A) the Master Servicer with respect to each Mortgage Loan (other than a Non-Serviced Mortgage
Loan) with respect to which the Master Servicer acts as Enforcing Servicer and (B) the Special Servicer with respect to (x) each
Non-Specially Serviced Loan with respect to which the Special Servicer acts as Enforcing Servicer, (y) each Specially
Serviced Loan and (z) each REO Property (except with respect to a Non-Serviced Mortgaged Property) as to which the Master
Servicer or the Special Servicer, as applicable, obtains (i) a full, partial or discounted payoff from the related Mortgagor,
(ii) any Liquidation Proceeds or Insurance and Condemnation Proceeds (including with respect to the related Companion Loan,
if applicable, and, in any case, other than amounts for which a Workout Fee has been paid, or will be payable), or (iii) Loss
of Value Payment paid by the responsible party under the related Mortgage Loan Purchase Agreement with respect to any Mortgage
Loan (and any related Companion Loan, if applicable), equal to the product of the Liquidation Fee Rate and (1) the proceeds
of such full, partial or discounted payoff or other partial payment, or (2) the Liquidation Proceeds or Insurance and Condemnation
Proceeds (net of the related costs and expenses associated with the related liquidation) related to such liquidated Mortgage Loan
or REO Property, as the case may be; provided, however, that no Liquidation Fee shall be payable with respect to
(a) the purchase of any Specially Serviced Loan by the Special Servicer or any Affiliate thereof (except if such Affiliate
purchaser is the Directing Certificateholder or any Affiliate thereof; provided, however, that prior to a Control
Termination Event, if the Directing Certificateholder or an Affiliate thereof purchases any Specially Serviced Loan within ninety
(90) days after the Special Servicer delivers to the Directing Certificateholder for its approval the initial Asset Status
Report with respect to such Specially Serviced Loan, the Special Servicer will not be entitled to a Liquidation Fee in connection
with such purchase by the Directing Certificateholder or its Affiliates), (b) any event described in clause (iv) of
the definition of “Liquidation Proceeds” (or any substitution in lieu of a repurchase) so long as such repurchase
or substitution occurs prior to the termination of the Extended Cure Period, (c) any event described in clauses (v),
(vi) and (vii) of the definition of “Liquidation Proceeds”, as long as, with respect to a purchase pursuant to clause (vi)
of the definition of “Liquidation Proceeds”, a purchase occurs within ninety (90) days of such holder’s
purchase option first becoming exercisable during that period prior to such Mortgage Loan becoming a Corrected Loan pursuant to
the related Intercreditor Agreement, (d) (x) a repurchase of a Serviced Companion Loan by the applicable Mortgage Loan
Seller for a breach of a representation or warranty or for a defective or deficient mortgage loan documentation under an Other
Pooling and Servicing Agreement within the time period (or extension thereof) provided for such repurchase or such repurchase
occurs prior to the termination of the extended resolution period provided therein or (y) a purchase of a Serviced Companion
Loan by any applicable party to the Other Pooling and Servicing Agreement pursuant to a clean-up call or similar liquidation
of the Other Securitization, (e) if a Mortgage Loan or Serviced Whole Loan becomes a Specially Serviced Loan solely because
of a Servicing Transfer Event described in clause (i) or (ii) of the definition of “Servicing Transfer Event”,
Liquidation Proceeds are received within ninety (90) days following the related Maturity Date as a result of such Mortgage
Loan or Serviced Whole Loan being refinanced or otherwise repaid in full (but, in the event that a Liquidation Fee is not payable
due to the application of any of clauses (a) through (e) above, the Special Servicer may still collect and retain a
Liquidation Fee and similar fees from the related Mortgagor to the extent provided for in, or not prohibited by, the related loan

 

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documents),
or (f) in connection with a Loss of Value Payment by a Mortgage Loan Seller if the applicable Mortgage Loan Seller makes
such Loss of Value Payment within the 90-day initial cure period or, if applicable, within the subsequent 90-day extended cure
period; provided that the Liquidation Fee with respect to any Mortgage Loan will be reduced by the amount of any Excess
Modification Fees paid by or on behalf of the related Mortgagor with respect to the related Mortgage Loan and any related Companion
Loan, as applicable, or REO Property and received by the Special Servicer as compensation within the prior twelve (12) months,
but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee.

 

“Liquidation
Fee Rate”: A rate equal to the lesser of (i) 1.00% with respect to any Mortgage Loan (and each related Serviced
Companion Loan) and REO Property and (ii) such lower rate that would result in a Liquidation Fee of $1,000,000; provided
that if such rate would result in an aggregate Liquidation Fee less than $25,000, then the Liquidation Fee Rate will be equal
to such rate as would result in an aggregate Liquidation Fee equal to $25,000.

 

“Liquidation
Proceeds”: Cash amounts received by or paid to the Master Servicer or the Special Servicer in connection with: (i) the
liquidation (including a payment in full) of a Mortgaged Property or other collateral constituting security for a Defaulted Loan
or defaulted Companion Loan, if applicable, through a trustee’s sale, foreclosure sale, REO Disposition or otherwise, exclusive
of any portion thereof required to be released to the related Mortgagor in accordance with applicable law and the terms and conditions
of the related Mortgage Note and Mortgage; (ii) the realization upon any deficiency judgment obtained against a Mortgagor;
(iii) any sale of (A) a Specially Serviced Loan pursuant to Section 3.16(a) or (B) any REO Property pursuant
to Section 3.16(b); (iv) the repurchase of a Mortgage Loan by the applicable Mortgage Loan Seller pursuant to Section 5
of the related Mortgage Loan Purchase Agreement; (v) the purchase of a Specially Serviced Loan or REO Property by the Holders
of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates
pursuant to Section 9.01; (vi) the purchase of a Mortgage Loan or an REO Property by (a) the applicable Subordinate
Companion Holder or (b) the related mezzanine lender pursuant to Section 3.16 and the related Intercreditor Agreement;
or (vii) the transfer of any Loss of Value Payments from the Loss of Value Reserve Fund to the Collection Account in accordance
with Section 3.05(g) of this Agreement (provided that, for the purpose of determining the amount of the Liquidation
Fee (if any) payable to the Special Servicer or the Master Servicer in connection with such Loss of Value Payment, the full amount
of such Loss of Value Payment shall be deemed to constitute “Liquidation Proceeds” from which the Liquidation Fee
(if any) is payable as of such time such Loss of Value Payment is made by the applicable Mortgage Loan Seller). With respect to
any Whole Loan, as used in this Agreement, Liquidation Proceeds shall refer to such portion of Liquidation Proceeds to the extent
allocable to the related Mortgage Loan or related Companion Loan, as applicable, pursuant to the terms of the related Intercreditor
Agreement.

 

“Loan-Specific
Directing Certificateholder”: With respect to a Servicing Shift Whole Loan, the “Controlling Holder”, the
“Directing Certificateholder”, the “Directing Holder”, the “Directing Lender” or any analogous
concept set forth under the related Intercreditor Agreement. Prior to the applicable Servicing Shift Date, a Loan-Specific Directing
Certificateholder with respect to the related Servicing Shift Whole Loan will be the holder of the related Servicing Shift Control
Note. With respect to each Servicing Shift Whole Loan, on and after the applicable Servicing Shift Date, there will be no Loan-Specific
Directing

 

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Certificateholder
under this Agreement. As of the Closing Date, (i) Column Financial, Inc., is the Loan-Specific Directing Certificateholder with
respect to the GNL Industrial Portfolio Whole Loan and (ii) Societe Generale Financial Corporation, is the Loan-Specific Directing
Certificateholder with respect to the ExchangeRight Net Leased Portfolio 26 Whole Loan.

 

“Loss
of Value Payment”: As defined in Section 2.03(b) of this Agreement.

 

“Loss
of Value Reserve Fund”: The “outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h))
designated as such pursuant to Section 3.04(i) of this Agreement. The Loss of Value Reserve Fund will be part of the Trust
Fund but not part of any Trust REMIC.

 

“Lower-Tier
Distribution Amount”: As defined in Section 4.01(c).

 

“Lower-Tier
Principal Amount”: With respect to any Class of Lower-Tier Regular Interests, (i) on or prior to the first
Distribution Date, an amount equal to the Original Lower-Tier Principal Amount of such Class as specified in the Preliminary
Statement hereto, and (ii) as of any date of determination after the first Distribution Date, an amount equal to the Certificate
Balance of the Class of Related Certificates on the Distribution Date immediately prior to such date of determination (determined
as adjusted pursuant to Section 1.02(iii)), and as set forth in Section 4.01(c).

 

“Lower-Tier
Regular Interests”: Any of the Class LA1, Class LA2, Class LA3, Class LA4, Class LASB, Class LAS, Class LB, Class LC,
Class LD, Class LERR, Class LFRR, Class LGRR, Class LHRR and Class LJRR Uncertificated Interests.

 

“Lower-Tier
REMIC”: One of two separate REMICs comprising a portion of the Trust Fund, which consist of the Mortgage Loans and the
proceeds thereof, any REO Property with respect thereto (or an allocable portion thereof, in the case of any Serviced Mortgage
Loan), or the Trust’s beneficial interest in the REO Property with respect to a Non-Serviced Whole Loan, such amounts
as shall from time to time be held in the Collection Account (other than with respect to any Companion Loan), the related portion
of the REO Account, if any, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the Lower-Tier REMIC Distribution
Account, and all other properties included in the Trust Fund that are not in the other Trust REMIC, except for the Loss of Value
Reserve Fund.

 

“Lower-Tier
REMIC Distribution Account”: The segregated account, accounts or sub-accounts created and maintained by the Certificate
Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for the Certificateholders, which shall initially
be entitled “Wells Fargo Bank, National Association, as Certificate Administrator, on behalf of Wells Fargo Bank, National
Association, as Trustee, for the benefit of the registered holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through
Certificates, Series 2019-C3, Lower-Tier REMIC Distribution Account”. Any such account, accounts or sub-accounts
shall be an Eligible Account.

 

“LTV
Ratio”: With respect to any Mortgage Loan, as of any date of determination, a fraction, expressed as a percentage, the
numerator of which is the scheduled principal balance of such Mortgage Loan, as of such date (assuming no defaults or prepayments
on such Mortgage

 

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Loan
prior to that date), and the denominator of which is the Appraised Value of the related Mortgaged Property.

 

“MAI”:
Member of the Appraisal Institute.

 

“Major
Decision”: As defined in Section 6.08(a).

 

“Major
Decision Reporting Package”: As defined in Section 6.08(a).

 

“Master
Servicer”: Midland Loan Services, a Division of PNC Bank, National Association and its successors in interest or assigns,
or any successor thereto (as Master Servicer) appointed as provided herein.

 

“Master
Servicer Decision”: As defined in Section 3.18(m).

 

“Master
Servicer Proposed Course of Action Notice”: As defined in Section 2.03(k)(iv).

 

“Material
Defect”: With respect to any Mortgage Loan, a Defect in any Mortgage File or a Breach, which Defect or Breach, as the
case may be, materially and adversely affects the value of such Mortgage Loan, the value of the related Mortgaged Property or
the interests of the Trustee or any Certificateholder therein or causes such Mortgage Loan to be other than a Qualified Mortgage.

 

“Maturity
Date”: With respect to any Mortgage Loan, Whole Loan or Companion Loan, as of any date of determination, the date on
which the last payment of principal is due and payable under the related Mortgage Note, after taking into account all Principal
Prepayments received prior to such date of determination, but without giving effect to (i) any acceleration of the principal
of such Mortgage Loan, Whole Loan or Companion Loan by reason of default thereunder or (ii) any Grace Period permitted by
the related Mortgage Note.

 

“Mediation
Rules”: As defined in Section 2.03(m)(i).

 

“Mediation
Services Provider”: As defined in Section 2.03(m)(i).

 

“Merger
Notice”: As defined in Section 6.03(b).

 

“Modification
Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan, any
and all fees with respect to a modification, extension, waiver or amendment that modifies, extends, amends or waives any term
of the Mortgage Loan documents and/or related Serviced Companion Loan documents (as evidenced by a signed writing) agreed to by
the Master Servicer or the Special Servicer, as applicable (other than all assumption fees, assumption application fees, consent
fees, defeasance fees, Special Servicing Fees, Liquidation Fees or Workout Fees).

 

“Moody’s”:
Moody’s Investors Service, Inc., and its successors in interest. If neither Moody’s nor any successor remains in existence,
“Moody’s” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable
Person reasonably

 

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designated
by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator, the Master Servicer,
the Directing Certificateholder and the Special Servicer, and specific ratings of Moody’s herein referenced shall be deemed
to refer to the equivalent ratings of the party so designated.

 

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

 

“Mortgage”:
With respect to any Mortgage Loan or Companion Loan, the mortgage(s), deed(s) of trust or other instrument(s) securing the related
Mortgage Note and creating a first mortgage lien on the fee and/or leasehold interest in the related Mortgaged Property.

 

“Mortgage
File”: With respect to each Mortgage Loan or Companion Loan, if applicable, but subject to Section 2.01, collectively
the following documents:

 

(i)               
the original Mortgage Note, endorsed on its face or by allonge to the Mortgage Note, without recourse, to “Pay to the order
of Wells Fargo Bank, National Association, as Trustee for the benefit of the registered holders of BBCMS Mortgage Trust 2019-C3,
Commercial Mortgage Pass-Through Certificates, Series 2019-C3, without recourse, representation or warranty” or in blank
and further showing a complete, unbroken chain of endorsement from the originator (or, if the original Mortgage Note has been
lost, an affidavit to such effect from the applicable Mortgage Loan Seller or another prior holder, together with a copy of the
Mortgage Note and an indemnity properly assigned and endorsed to the Trustee);

 

(ii)              
the original or a copy of the Mortgage, together with an original or copy of any intervening Assignments of Mortgage, in each
case with evidence of recording indicated thereon or certified to have been submitted for recording;

 

(iii)           
an original Assignment of Mortgage in blank or in favor of “Wells Fargo Bank, National Association, as trustee for the benefit
of the registered holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3”
(or in the case of any Serviced Whole Loan, in its capacity as “Lead Securitization Note Holder” or similar capacity
under the related Intercreditor Agreement on behalf of the related Serviced Companion Noteholders) and (subject to the completion
of certain missing recording information and, if applicable, the assignee’s name) in recordable form (or, if the related
Mortgage Loan Seller is responsible for the recordation of that Assignment of Mortgage, a copy thereof certified to be the copy
of such Assignment of Mortgage submitted, or to be submitted, for recording);

 

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(iv)           
the original or a copy of any related Assignment of Leases and of any intervening Assignments (if such item is a document separate
from the Mortgage), with evidence of recording indicated thereon or certified to have been submitted for recording;

 

(v)            
an original Assignment of any related Assignment of Leases (if such item is a document separate from the Mortgage) in blank or
in favor of “Wells Fargo Bank, National Association, as trustee for the benefit of the registered holders of BBCMS Mortgage
Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3” (or in the case of any Serviced Whole
Loan, in its capacity as “Lead Securitization Note Holder” or similar capacity under the related Intercreditor Agreement
on behalf of the related Serviced Companion Noteholders) and (subject to the completion of certain missing recording information
and, if applicable, the assignee’s name) in recordable form (or, if the related Mortgage Loan Seller is responsible for
the recordation of that Assignment, a copy thereof certified to be the copy of such Assignment submitted or to be submitted for
recording);

 

(vi)            
the original assignment of all unrecorded documents relating to the Mortgage Loan or a Serviced Whole Loan, if not already assigned
pursuant to clause (iii) or clause (v) above;

 

(vii)         
originals or copies of all modification, consolidation, assumption, written assurance and substitution agreements in those instances
in which the terms or provisions of the Mortgage or Mortgage Note have been modified or the Mortgage Loan has been assumed or
consolidated;

 

(viii)         
the original or a copy of the policy or certificate of lender’s title insurance (which may be in electronic form) issued
in connection with the origination of such Mortgage Loan, or, if such policy has not been issued or located, an irrevocable, binding
commitment (which may be a marked version of the policy that has been executed by an authorized representative of the title company
or an agreement to provide the same pursuant to binding escrow instructions executed by an authorized representative of the title
company) to issue such title insurance policy;

 

(ix)           
any filed copies (bearing evidence of filing) or evidence of filing of any Uniform Commercial Code financing statements, related
amendments and continuation statements in the possession of the applicable Mortgage Loan Seller;

 

(x)             
an original Assignment in favor of the Trustee of any financing statement executed and filed in favor of the applicable Mortgage
Loan Seller or an Affiliate thereof in the relevant jurisdiction (or, if the related Mortgage Loan Seller is responsible for the
filing of that Assignment, a copy thereof certified to be the copy of such Assignment submitted or to be submitted for recording);

 

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(xi)          the original or a copy of any intercreditor agreement relating to existing debt of the borrower, including any Intercreditor Agreement
relating to a Serviced Whole Loan, if applicable;

 

(xii)         the original or copies of any loan agreement, escrow agreement, security agreement or letter of credit relating to such Mortgage
Loan or Serviced Whole Loan;

 

(xiii)        the original or a copy of any ground lease, ground lessor estoppel, environmental insurance policy, environmental indemnity or
guaranty relating to such Mortgage Loan or Serviced Whole Loan;

 

(xiv)        the original or a copy of any property management agreement relating to such Mortgage Loan or Serviced Whole Loan;

 

(xv)         the original or a copy of any franchise agreements and comfort letters or similar agreements relating to such Mortgage Loan or
Serviced Whole Loan and, with respect to any franchise agreement, comfort letter or similar agreement, any assignment of such
agreements or any notice to the franchisor of the transfer of such Mortgage Loan or Serviced Whole Loan and/or request for the
issuance of a new comfort letter in favor of the Trustee, in each case as applicable;

 

(xvi)        the original or a copy of any lock-box or cash management agreement relating to a Mortgage Loan or a Serviced Whole Loan;

 

(xvii)       the original or a copy of any related mezzanine intercreditor agreement;

 

(xviii)      the original or a copy of all related environmental insurance policies; and

 

(xix)         a list related to such Mortgage Loan indicating the related Mortgage Loan documents included in the related Mortgage File as of
the Closing Date (the “Mortgage Loan Checklist”);

 

provided,
however, that (a) whenever the term “Mortgage File” is used to refer to documents held by the Custodian,
such term shall not be deemed to include such documents and instruments required to be included therein unless they are actually
received by the Custodian, (b) if there exists with respect to any Crossed Mortgage Loan Group only one original or certified
copy of any document referred to in the definition of “Mortgage File” covering all of the Mortgage Loans in such Crossed
Mortgage Loan Group, then the inclusion of such original or certified copy in the Mortgage File for any of the Mortgage Loans
constituting such Crossed Mortgage Loan Group shall be deemed the inclusion of such original or certified copy in the Mortgage
File for each such Mortgage Loan, (c) to the extent that this Agreement refers to a “Mortgage File” for a Companion
Loan, such “Mortgage File” shall be construed to mean the Mortgage File for the related Mortgage Loan (except that
references to the Mortgage Note for a Companion Loan otherwise described above shall be construed to instead refer to a photocopy
of such Mortgage Note), (d) with respect to any Mortgage Loan that has a Serviced Companion Loan, the execution and/or recordation
of

 

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any
Assignment in the name of the Trustee shall not be construed to limit the beneficial interest of the related Companion Holder(s)
in such instrument and the benefits intended to be provided to them by such instrument, it being acknowledged that (I) the
Trustee shall hold such record title for the benefit of the Trust as the holder of the related Mortgage Loan and the related Companion
Holder(s) collectively and (II) any efforts undertaken by the Trustee, the Master Servicer, or the Special Servicer on its
behalf to enforce or obtain the benefits of such instrument shall be construed to be so undertaken by the Trustee, the Master
Servicer or the Special Servicer for the benefit of the Trust as the holder of the applicable Mortgage Loan and the related Companion
Holder(s) collectively, (e) in connection with any Non-Serviced Mortgage Loan, the preceding document delivery requirements
will be met by the delivery by the applicable Mortgage Loan Seller of copies of the documents specified above (other than the
Mortgage Note and intervening endorsements evidencing such Mortgage Loan, with respect to which the original shall be required
or the requirements of clause (i) of the definition of “Mortgage File” shall otherwise be satisfied) including
a copy of the Mortgage securing the applicable Mortgage Loan and any assignments or other transfer documents referred to in clauses (iii),
(v), (vi), (vii), (ix) and (x) above as being in favor of the Trustee shall instead be in favor of the applicable Non-Serviced
Trustee and need only be in such form as was delivered to the applicable Non-Serviced Trustee or a custodian on its behalf,
and (f) so long as the Custodian is also the related Non-Serviced Custodian, in connection with any Non-Serviced
Mortgage Loan, any and all document delivery requirements with respect to the related Mortgage File (or any portion thereof) set
forth herein or in the related Mortgage Loan Purchase Agreement will be satisfied by the delivery, in compliance with the terms
of the related Non-Serviced PSA, by the applicable Mortgage Loan Seller of the documents specified above (other than the Mortgage
Note and intervening endorsements evidencing such Mortgage Loan or shall otherwise satisfy the requirements of clause (i)
of the definition of “Mortgage File”) to the custodian under the related Non-Serviced PSA (in such form as was
delivered to the custodian under the related Non-Serviced PSA); provided that (a) the Custodian shall perform
its duties under this Agreement (including, without limitation, Article II), and be liable to the other parties hereto,
with respect to such Non-Serviced Mortgage Loan as if such documents were required to be delivered and included in the Mortgage
File and as if such Non-Serviced Custodian’s receipt of the documents contained in the related “mortgage file”
delivered under the related Non-Serviced PSA constituted delivery of those same documents to the Custodian under this Agreement,
(b) the Custodian shall not resign as the related Non-Serviced Custodian without giving at least thirty (30) days’
advance written notice of resignation to each other party hereto, and (c) if for any reason the Custodian shall resign as
Custodian hereunder or resign as the related Non-Serviced Custodian or shall otherwise no longer act as Custodian hereunder
or as the related Non-Serviced Custodian or shall otherwise be required to surrender possession of the related “mortgage
file” delivered under the related Non-Serviced PSA (including by reason of the Non-Serviced Companion Loan being
removed from the related securitization trust), the Custodian shall include the documents contemplated by clauses (ii) through
(xix) above in the Mortgage File for such Non-Serviced Whole Loan (to the extent such documents were delivered in connection
with the related Other Securitization) that shall be maintained by it or any successor custodian hereunder.

 

“Mortgage
Loan”: Each of the mortgage loans (which, for the avoidance of doubt, includes each Crossed Mortgage Loan Group, each
of which, for the purposes of this Agreement, shall be treated as one Mortgage Loan, provided that each individual Crossed
Underlying Loan within any such Crossed Mortgage Loan Group shall not be included in this definition of Mortgage

 

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Loan)
transferred and assigned to the Trustee pursuant to Section 2.01 and to be held by the Trust. As used herein, the term
“Mortgage Loan” includes the related Mortgage Note, Mortgage and other documents contained in the related Mortgage
File and any related agreements. The term “Mortgage Loan” shall, as of any date of determination, include any Qualified
Substitute Mortgage Loan that has replaced a Mortgage Loan pursuant to Section 2.03 and exclude any such replaced Mortgage
Loan. For the avoidance of doubt, no Retained Defeasance Rights and Obligations will be part of a “Mortgage Loan”
or an asset of the Trust.

 

“Mortgage
Loan Checklist”: As defined in the definition of “Mortgage File”.

 

“Mortgage
Loan Purchase Agreement”: Each agreement between the Depositor and a Mortgage Loan Seller, relating to the transfer
of all of such Mortgage Loan Seller’s right, title and interest in and to the related Mortgage Loans.

 

“Mortgage
Loan Schedule”: The list of Mortgage Loans transferred on the Closing Date to the Trustee as part of the Trust Fund,
attached hereto as Exhibit B, which list sets forth the following information with respect to each Mortgage Loan so
transferred:

 

(i)            the loan identification number (as specified in Annex A-1 to the Prospectus);

 

(ii)           the Mortgagor’s name;

 

(iii)          the street address (including city, state, county and zip code) and name of the related Mortgaged Property;

 

(iv)          the Mortgage Rate in effect at origination;

 

(v)           the Net Mortgage Rate in effect at the Cut-off Date;

 

(vi)          the original principal balance;

 

(vii)         the Cut-off Date Balance;

 

(viii)        the (a) original term to stated maturity, (b) remaining term to stated maturity and (c) Maturity Date;

 

(ix)           the original and remaining amortization terms;

 

(x)            the amount of the Periodic Payment due on the first Due Date following the Cut-off Date;

 

(xi)           the applicable Servicing Fee Rate;

 

(xii)          whether the Mortgage Loan is a 30/360 Mortgage Loan or an Actual/360 Mortgage Loan;

 

(xiii)         whether such Mortgage Loan is secured by the related Mortgagor’s interest in a ground lease;

 

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(xiv)       identifying
any Mortgage Loans with which such Mortgage Loan is cross-defaulted or cross-collateralized;

 

(xv)        whether the related Mortgage Loan has a guarantor;

 

(xvi)       whether the related Mortgage Loan is secured by a letter of credit;

 

(xvii)      amount of any reserve or escrowed funds that were deposited at origination and any ongoing periodic deposit requirements;

 

(xviii)     number of grace days;

 

(xix)        whether a cash management agreement or lock-box agreement is in place;

 

(xx)         the general property type of the related Mortgaged Property;

 

(xxi)        whether the related Mortgage Loan permits defeasance;

 

(xxii)       [Reserved]; and

 

(xxiii)     
the number of units, rooms, beds, pads or square feet with respect to each Mortgaged Property.

 

Such
Mortgage Loan Schedule shall also set forth the aggregate of the amounts described under clause (vii) above for all
of the Mortgage Loans. Such list may be in the form of more than one list, collectively setting forth all of the information required.

 

“Mortgage
Loan Seller”: Each of (i) Barclays Capital Real Estate Inc., a Delaware corporation, or its successor in interest,
(ii) UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, an Office of the Comptroller
of the Currency regulated branch of a foreign bank, or its successor in interest, (iii) Societe Generale Financial Corp.,
a Delaware corporation, or its successors in interest, (iv) KeyBank National Association, a national banking association,
or its successor in interest, (v) Rialto Mortgage Finance, LLC, a Delaware limited liability company, or its successor in
interest and (vi) Natixis Real Estate Capital LLC, a Delaware limited liability company, or its successor in interest.

 

“Mortgage
Note”: The original executed promissory note(s) evidencing the indebtedness of a Mortgagor under a Mortgage Loan or
Companion Loan, as the case may be, together with any rider, addendum or amendment thereto, or any renewal, substitution or replacement
thereof.

 

“Mortgage
Rate”: With respect to: (i) any Mortgage Loan (including the Non-Serviced Mortgage Loans) or related Companion
Loan on or prior to its Maturity Date, the annual rate at which interest is scheduled (in the absence of a default) to accrue
on such Mortgage Loan or related Companion Loan from time to time in accordance with the related Mortgage Note and applicable
law; or (ii) any Mortgage Loan or related Companion Loan after its Maturity Date,

 

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the
annual rate described in clause (i) above determined without regard to the passage of such Maturity Date.

 

“Mortgaged
Property”: The real property subject to the lien of a Mortgage.

 

“Mortgagor”:
The obligor or obligors on a Mortgage Note, including without limitation, any Person that has acquired the related Mortgaged Property
and assumed the obligations of the original obligor under the Mortgage Note and including in connection with any Mortgage Loan
that utilizes an indemnity deed of trust structure, the borrower and the Mortgaged Property owner/payment guarantor/mortgagor
individually and collectively, as the context may require.

 

“Net
Investment Earnings”: With respect to the Collection Account, the Servicing Accounts or the REO Account or the Companion
Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount,
if any, by which the aggregate of all interest and other income realized during such period on funds relating to the Trust held
in such account, exceeds the aggregate of all losses, if any, incurred during such period in connection with the investment of
such funds in accordance with Section 3.06.

 

“Net
Investment Loss”: With respect to the Collection Account, the Servicing Accounts or the REO Account or the Companion
Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount
by which the aggregate of all losses, if any, incurred during such period in connection with the investment of funds relating
to the Trust held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other income
realized during such period on such funds.

 

“Net
Mortgage Rate”: With respect to each Mortgage Loan (including a Non-Serviced Mortgage Loan) and any REO Loan (other
than the portion of an REO Loan related to any Companion Loan) as of any date of determination, a rate per annum equal
to the related Mortgage Rate then in effect, minus the related Administrative Cost Rate; provided, however,
that for purposes of calculating Pass-Through Rates, the Net Mortgage Rate for any Mortgage Loan will be determined without
regard to any modification, waiver or amendment of the terms of the related Mortgage Loan, whether agreed to by the Master Servicer,
the Special Servicer, a Non-Serviced Master Servicer or a Non-Serviced Special Servicer or resulting from a bankruptcy, insolvency
or similar proceeding involving the related Mortgagor; provided, further, that for any Mortgage Loan that does not
accrue interest on the basis of a 360-day year consisting of twelve 30-day months, then, solely for purposes of calculating
Pass-Through Rates and the Weighted Average Net Mortgage Rate, the Net Mortgage Rate of such Mortgage Loan or for any one-month
period preceding a related Due Date will be the annualized rate at which interest would have to accrue in respect of such Mortgage
Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest
actually accrued in respect of such Mortgage Loan during such one-month period at the related Net Mortgage Rate; provided,
further, that, with respect to each Actual/360 Mortgage Loan, the Net Mortgage Rate for the one-month period (A) preceding
the Due Dates that occur in January and February in any year which is not a leap year or preceding the Due Date that occurs in
February in any year which is a leap year (in either case, unless the related Distribution Date is the final Distribution Date),
will be determined exclusive of any Withheld Amounts, and (B) preceding the Due Date in March (or February, if the

 

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related
Distribution Date is the final Distribution Date), will be determined inclusive of the amounts withheld in the immediately preceding
January and February, if applicable. With respect to any REO Loan, the Net Mortgage Rate shall be calculated as described above,
determined as if the predecessor Mortgage Loan had remained outstanding.

 

“Net
Operating Income”: With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating
Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time
to time endorsed and put forth by the CREFC®.

 

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

 

“Non-Book
Entry Certificates”: As defined in Section 5.02(c).

 

“Nonrecoverable
Advance”: Any Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance. For the avoidance of doubt, Workout-Delayed
Reimbursement Amounts shall constitute Nonrecoverable Advances only when the Person making such determination in accordance with
the procedures specified herein, and taking into account factors such as all other outstanding Advances, either (a) has determined
that such Workout-Delayed Reimbursement Amounts, would not ultimately be recoverable from Late Collections, Default Interest,
Insurance and Condemnation Proceeds, Liquidation Proceeds or any other recovery on or in respect of such Mortgage Loan or the
related REO Property (without giving effect to potential recoveries on deficiency judgments or recoveries from guarantors), or
(b) has determined that such Workout-Delayed Reimbursement Amount, along with any other Workout-Delayed Reimbursement
Amounts (that have not been reimbursed to the party that made such Advance) or unreimbursed Nonrecoverable Advances, would not
be ultimately recoverable from the principal portion of future general collections on the Mortgage Loans and REO Properties.

 

“Nonrecoverable
P&I Advance”: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan (including
any Non-Serviced Mortgage Loan) or REO Loan (other than any portion of an REO Loan related to a Companion Loan) which, the
Master Servicer or the Special Servicer, in accordance with the Servicing Standard, or the Trustee, in its good faith business
judgment, as the case may be, determines will not be ultimately recoverable, together with any accrued and unpaid interest thereon
at the Reimbursement Rate, from Late Collections or any other recovery on or in respect of such Mortgage Loan or REO Loan; provided,
however, that the Special Servicer may, at its option (with respect to any Specially Serviced Loan), make a determination
in accordance with the Servicing Standard, that any P&I Advance previously made or proposed to be made is a Nonrecoverable
P&I Advance and shall deliver to the Master Servicer (and with respect to a Serviced Mortgage Loan, to any Other Servicer,
and with respect to a Non-Serviced Mortgage Loan, to the related Non-Serviced Master Servicer and Non-Serviced Special
Servicer), the Certificate Administrator, the Trustee, the Operating Advisor and the 17g-5 Information Provider notice of
such determination. Any such determination may be conclusively relied upon by, but shall not be binding upon, the Master Servicer
and the Trustee, provided, however, that the Special Servicer shall have no such obligation to make an affirmative

 

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determination
that any P&I Advance is or would be recoverable and in the absence of a determination by the Special Servicer that such P&I
Advance is or would be a Nonrecoverable P&I Advance, such decision shall remain with the Master Servicer or Trustee, as applicable.
If the Special Servicer makes a determination that only a portion, and not all, of any previously made or proposed P&I Advance
is a Nonrecoverable P&I Advance, the Master Servicer and the Trustee shall have the right to make its own subsequent determination
that any remaining portion of any such previously made or proposed P&I Advance is a Nonrecoverable P&I Advance. With respect
to any Non-Serviced Whole Loan, if any Non-Serviced Master Servicer, Non-Serviced Trustee or Non-Serviced Special
Servicer, as applicable, in connection with a securitization of the related Non-Serviced Companion Loan determines that a
principal and interest advance with respect to the related Non-Serviced Companion Loan, if made, would be nonrecoverable,
such determination shall not be binding on the Master Servicer and the Trustee as it relates to any proposed P&I Advance with
respect to the related Non-Serviced Mortgage Loan; provided, however, that the Master Servicer and the Trustee
may rely on the non-recoverability determination of the Non-Serviced Master Servicer or Non-Serviced Trustee under the related
Non-Serviced Pooling Agreement. Similarly, with respect to the related Non-Serviced Mortgage Loan, if the Master Servicer,
the Special Servicer or the Trustee, as applicable, determines that any P&I Advance with respect to a related Non-Serviced
Mortgage Loan, if made, would be a Nonrecoverable P&I Advance, such determination shall not be binding on the related Non-Serviced
Master Servicer, Non-Serviced Special Servicer and related Non-Serviced Trustee as it relates to any proposed P&I
Advance with respect to the related Non-Serviced Companion Loan (unless the related Non-Serviced PSA provides otherwise).
In making such recoverability determination, the Master Servicer, the Special Servicer or the Trustee, as applicable, will be
entitled (a) to consider (among other things) (i) the obligations of the Mortgagor under the terms of the related Mortgage
Loan or Companion Loan, as applicable, as it may have been modified and (ii) the related Mortgaged Properties in their “as-is”
or then-current conditions and occupancies, as modified by such party’s assumptions (consistent with the Servicing Standard
in the case of the Master Servicer or the Special Servicer or in its good faith business judgment in the case of the Trustee,
solely in its capacity as Trustee) regarding the possibility and effects of future adverse changes with respect to such Mortgaged
Properties, (b) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer and the
Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among
other things) future expenses, (c) to estimate and consider (consistent with the Servicing Standard in the case of the Master
Servicer and the Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as
Trustee) (among other things) the timing of recoveries and (d) to give due regard to the existence of any Nonrecoverable
Advances which, at the time of such consideration, the recovery of which are being deferred or delayed by the Master Servicer,
in light of the fact that related proceeds are a source of recovery not only for the Advance under consideration but also a potential
source of recovery for such delayed or deferred Advance. In addition, any Person, in considering whether a P&I Advance is
a Nonrecoverable Advance, will be entitled to give due regard to the existence of any outstanding Nonrecoverable Advance or Workout-Delayed
Reimbursement Amount with respect to other Mortgage Loans, the reimbursement of which, at the time of such consideration, is being
deferred or delayed by the Master Servicer or the Trustee because there is insufficient principal available for such recovery,
in light of the fact that proceeds on the related Mortgage Loan are a source of recovery not only for the P&I Advance under
consideration, but also as a potential source of reimbursement of such Nonrecoverable Advance

  

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or
Workout-Delayed Reimbursement Amounts which are or may be being deferred or delayed. In addition, any such Person may update
or change its recoverability determinations at any time (but not reverse any other Person’s determination that an Advance
is a Nonrecoverable Advance) and, consistent with the Servicing Standard, in the case of the Master Servicer or in its good faith
business judgment in the case of the Trustee (solely in its capacity as Trustee), may obtain at the expense of the Trust any reasonably
required analysis, Appraisals or market value estimates or other information for making a recoverability determination. Absent
bad faith, the Master Servicer’s, the Special Servicer’s or the Trustee’s determination as to the recoverability
of any P&I Advance shall be conclusive and binding on the Certificateholders. The determination by the Master Servicer, the
Special Servicer or the Trustee, as the case may be, that a Nonrecoverable P&I Advance has been made or that any proposed
P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, or any updated or changed recoverability determination,
shall be evidenced by an Officer’s Certificate delivered by either the Special Servicer or the Master Servicer to the other
and to the Trustee, the Certificate Administrator, the Directing Certificateholder (but, in the case of the Directing Certificateholder,
only prior to the occurrence and continuance of a Consultation Termination Event and only with respect to any Mortgage Loan other
than an Excluded Loan) (and in the case of a Serviced Mortgage Loan, any Other Servicer), the Operating Advisor (but only in the
case of the Special Servicer) and the Depositor, or by the Trustee to the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor and the Certificate Administrator (and, in the case of a Serviced Mortgage Loan, any Other Servicer). The
Officer’s Certificate shall set forth such determination of nonrecoverability and the considerations of the Master Servicer,
the Special Servicer or the Trustee, as applicable, forming the basis of such determination (which shall be accompanied by, to
the extent available, related income and expense statements, rent rolls, occupancy status, property inspections and any other
information used by the Master Servicer, the Special Servicer or the Trustee, as applicable, to make such determination and shall
include any existing Appraisal of the related Mortgage Loan or the related Mortgaged Property). The Trustee shall be entitled
to conclusively rely on the Master Servicer’s or the Special Servicer’s determination that a P&I Advance is or
would be nonrecoverable, and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s determination
that a P&I Advance is or would be nonrecoverable. In the case of a cross-collateralized Mortgage Loan (if any), such recoverability
determination shall take into account the cross-collateralization of the related cross-collateralized Mortgage Loan.

 

“Nonrecoverable
Servicing Advance”: Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan (other
than a Non-Serviced Mortgage Loan), Serviced Whole Loan or REO Property which, the Trustee, in its good faith business judgment
or the Master Servicer or the Special Servicer, as applicable, in accordance with the Servicing Standard, determines will not
be ultimately recoverable, together with any accrued and unpaid interest thereon, at the Reimbursement Rate, from Late Collections
or any other recovery on or in respect of such Mortgage Loan, Serviced Whole Loan or REO Property. In making such recoverability
determination, such Person will be entitled (a) to consider (among other things) (i) the obligations of the Mortgagor
under the terms of the related Mortgage Loan or Companion Loan, as applicable, as it may have been modified and (ii) the
related Mortgaged Properties in their “as-is” or then-current conditions and occupancies, as modified by such
party’s assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer or
in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) regarding the possibility and
effects of future adverse changes with respect to such Mortgaged

 

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Properties,
(b) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer
or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among other things) future
expenses, (c) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer or the
Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among
other things) the timing of recoveries and (d) to give due regard to the existence of any Nonrecoverable Advances which,
at the time of such consideration, the recovery of which are being deferred or delayed by the Master Servicer or the Trustee because
there is insufficient principal available for such recovery, in light of the fact that related proceeds are a source of recovery
not only for the Advance under consideration but also a potential source of recovery for such delayed or deferred Advance. In
addition, any Person, in considering whether a Servicing Advance is a Nonrecoverable Servicing Advance, will be entitled to give
due regard to the existence of any Nonrecoverable Advance or Workout-Delayed Reimbursement Amounts with respect to other Mortgage
Loans, the reimbursement of which, at the time of such consideration, is being deferred or delayed by the Master Servicer, in
light of the fact that proceeds on the related Mortgage Loan are a source of recovery not only for the Servicing Advance under
consideration, but also as a potential source of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement
Amounts which are or may be being deferred or delayed. In addition, any such Person may update or change its recoverability determinations
at any time (but not reverse any other Person’s determination that an Advance is a Nonrecoverable Advance) and, consistent
with the Servicing Standard, in the case of the Master Servicer or in its good faith business judgment in the case of the Trustee
(solely in its capacity as Trustee), may obtain at the expense of the Trust any reasonably required analysis, Appraisals or market
value estimates or other information for making a recoverability determination. Absent bad faith, the Master Servicer’s,
the Special Servicer’s or the Trustee’s determination as to the recoverability of any Servicing Advance shall be conclusive
and binding on the Certificateholders. The determination by the Master Servicer, the Special Servicer or the Trustee, as the case
may be, that a Nonrecoverable Servicing Advance has been made or that any proposed Servicing Advance, if made, would constitute
a Nonrecoverable Servicing Advance, or any updated or changed recoverability determination, shall be evidenced by an Officer’s
Certificate delivered by either the Special Servicer or the Master Servicer to the other and to the Trustee, the Certificate Administrator,
the Directing Certificateholder (but, in the case of the Directing Certificateholder, only prior to the occurrence and continuance
of a Consultation Termination Event and only with respect to any Mortgage Loan other than an Excluded Loan) (and in the case of
a Serviced Mortgage Loan, any Other Servicer), the Operating Advisor (but only in the case of the Special Servicer) and the Depositor,
or by the Trustee to the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Certificate Administrator
(and in the case of a Serviced Mortgage Loan, any Other Servicer); provided, however, that the Special Servicer
may, at its option, make a determination in accordance with the Servicing Standard, that any Servicing Advance previously made
or proposed to be made is a Nonrecoverable Servicing Advance and shall deliver to the Master Servicer (and with respect to a Serviced
Mortgage Loan, to any Other Servicer), the Certificate Administrator, the Trustee, the Operating Advisor and the 17g-5 Information
Provider notice of such determination. Any such determination may be conclusively relied upon by, but shall not be binding upon,
the Master Servicer and the Trustee, provided, however, that the Special Servicer shall have no such obligation
to make an affirmative determination that any Servicing Advance is or would be recoverable and in the absence of a determination
by the Special Servicer that such Servicing

  

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Advance
is or would be a Nonrecoverable Servicing Advance, such decision shall remain with the Master Servicer or the Trustee, as applicable.
If the Special Servicer makes a determination that only a portion, and not all, of any previously made or proposed Servicing Advance
is a Nonrecoverable Servicing Advance, the Master Servicer and the Trustee shall each have the right to make its own subsequent
determination that any remaining portion of any such previously made or proposed Servicing Advance is a Nonrecoverable Servicing
Advance. The Officer’s Certificate shall set forth such determination of nonrecoverability and the considerations of the
Master Servicer, the Special Servicer or the Trustee, as applicable, forming the basis of such determination (which shall be accompanied
by, to the extent available, related income and expense statements, rent rolls, occupancy status, property inspections and any
other information used by the Master Servicer, the Special Servicer or the Trustee, as applicable, to make such determination
and shall include any existing Appraisal with respect to the related Mortgage Loan, Serviced Companion Loan or related Mortgaged
Property). The Special Servicer shall promptly furnish any party required to make Servicing Advances hereunder with any information
in its possession regarding the Specially Serviced Loans and REO Properties as such party required to make Servicing Advances
may reasonably request for purposes of making recoverability determinations. The Trustee shall be entitled to conclusively rely
on the Master Servicer’s or the Special Servicer’s determination that a Servicing Advance is or would be nonrecoverable,
and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s determination that a Servicing
Advance is or would be nonrecoverable. Notwithstanding anything herein to the contrary, if the Special Servicer requests that
the Master Servicer make a Servicing Advance, the Master Servicer may conclusively rely on such request as evidence that such
advance is not a Nonrecoverable Servicing Advance; provided, however, that the Special Servicer shall not be entitled
to make such a request more frequently than once per calendar month with respect to Servicing Advances other than emergency advances
(although such request may relate to more than one Servicing Advance). In the case of a cross-collateralized Mortgage Loan
(if any), such recoverability determination shall take into account the cross-collateralization of the related cross-collateralized
Mortgage Loan. The determination as to the recoverability of any servicing advance or property protection advance previously made
or proposed to be made in respect of a Non-Serviced Whole Loan shall be made by the related Non-Serviced Master Servicer,
Non-Serviced Special Servicer or Non-Serviced Trustee, as the case may be, pursuant to the related Non-Serviced PSA.

 

“Non-Registered
Certificate”: Unless and until registered under the Securities Act, any Class X-D, Class D, Class E-RR, Class F-RR,
Class G-RR, Class H-RR, Class J-RR or Class R Certificate.

 

“Non-Serviced
Certificate Administrator”: The “Certificate Administrator” under a Non-Serviced PSA.

 

“Non-Serviced
Companion Loan”: Each Companion Loan that is part of a Non-Serviced Whole Loan.

 

“Non-Serviced
Custodian”: The “Custodian” under a Non-Serviced PSA.

 

“Non-Serviced
Depositor”: The “Depositor” under a Non-Serviced PSA.

 

    -72-

     

    

 

“Non-Serviced
Gain-on-Sale Proceeds”: Any “gain-on-sale proceeds” received in respect of a Non-Serviced
Mortgage Loan pursuant to the related Non-Serviced PSA.

 

“Non-Serviced
Intercreditor Agreement”: Each Intercreditor Agreement relating to a Non-Serviced Whole Loan.

 

“Non-Serviced
Master Servicer”: The “Master Servicer” or “Servicer” under a Non-Serviced PSA.

 

“Non-Serviced
Mortgage Loan”: Each Mortgage Loan that is part of a Non-Serviced Whole Loan. The table under the heading “Whole
Loans” in the Preliminary Statement hereto identify the Non-Serviced Mortgage Loans included in the Trust as of the Closing
Date. Each Servicing Shift Mortgage Loan will be a Non-Serviced Mortgage Loan on and after the applicable Servicing Shift Date
for the related Servicing Shift Whole Loan.

 

“Non-Serviced
Mortgaged Property”: Any Mortgaged Property securing a Non-Serviced Whole Loan.

 

“Non-Serviced
Operating Advisor”: The “Operating Advisor” (if any) under a Non-Serviced PSA.

 

“Non-Serviced
Paying Agent”: The “Paying Agent” under a Non-Serviced PSA.

 

“Non-Serviced
Primary Servicing Fee Rate”: With respect to each Non-Serviced Mortgage Loan, the per annum rate set forth on
the Mortgage Loan Schedule under the heading “Servicing Fee Rate”.

 

“Non-Serviced
PSA”: A pooling and servicing agreement or trust and servicing agreement governing the servicing and administration
of a Non-Serviced Whole Loan. The table under the heading “Whole Loans” in the Preliminary Statement hereto identify
the Non-Serviced PSAs relating to the Trust as of the Closing Date.

 

“Non-Serviced
Special Servicer”: The applicable “Special Servicer” of a Non-Serviced Whole Loan under a Non-Serviced
PSA.

 

“Non-Serviced
Trust”: The “Trust” formed under a Non-Serviced PSA.

 

“Non-Serviced
Trustee”: The “Trustee” under a Non-Serviced PSA.

 

“Non-Serviced
Whole Loan”: A Whole Loan that is serviced and administered under a pooling and servicing agreement or trust and servicing
agreement other than this Agreement. The table under the heading “Whole Loans” in the Preliminary Statement hereto
identify the Non-Serviced Whole Loans relating to the Trust as of the Closing Date. Each Servicing Shift Whole Loan will be a
Non-Serviced Whole Loan on and after its related Servicing Shift Date.

 

“Non-Serviced
Whole Loan Controlling Holder”: The “directing holder” or similarly defined party under a Non-Serviced
PSA.

 

    -73-

     

    

 

“Non-Specially
Serviced Loan”: Any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan that is not
a Specially Serviced Loan.

 

“Non-U.S.
Beneficial Ownership Certification”: As defined in Section 5.03(f).

 

“Non-U.S.
Tax Person”: Any person other than a U.S. Tax Person.

 

“Notional
Amount”: In the case of the Class X-A Certificates, the Class X-A Notional Amount, in the case of the Class
X-B Certificates, the Class X-B Notional Amount, and, in the case of the Class X-D Certificates, the Class X-D
Notional Amount.

 

“NREC”:
Natixis Real Estate Capital LLC, or its successor in interest.

 

“NRSRO”:
Any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act, including
the Rating Agencies.

 

“NRSRO
Certification”: A certification (a) substantially in the form of Exhibit P-2 executed by a NRSRO
or (b) provided electronically and executed by such NRSRO by means of a “click-through” confirmation on the
17g-5 Information Provider’s Website, in either case in favor of the 17g-5 Information Provider that states that
such NRSRO is a Rating Agency under this Agreement or that such NRSRO has provided the Depositor with the appropriate certifications
pursuant to paragraph (e) of Rule 17g-5 of the Exchange Act, that such NRSRO has access to the Depositor’s
17g-5 website and that such NRSRO will keep such information confidential, except to the extent such information has been
made available to the general public. Each NRSRO shall be deemed to recertify to the foregoing each time it accesses the Certificate
Administrator’s Website.

 

“OCC”:
Office of the Comptroller of the Currency or any successor thereto.

 

“Officer’s
Certificate”: A certificate signed by a Servicing Officer of the Master Servicer or the Special Servicer or any Additional
Servicer, as the case may be, or a Responsible Officer of the Trustee or Certificate Administrator, as the case may be.

 

“Offshore
Transaction”: Any “offshore transaction” as defined in Rule 902(h) of Regulation S.

 

“Operating
Advisor”: Pentalpha Surveillance LLC, a Delaware limited liability company, and its successors in interest and assigns,
or any successor operating advisor appointed as herein provided.

 

“Operating
Advisor Annual Report”: As defined in Section 3.26(c).

 

“Operating
Advisor Consultation Event”: Any time when the Certificate Balances of the Horizontal Risk Retention Certificates in
the aggregate (taking into account the application of any Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate
Balances of such classes) is 25% or less of the Original Certificate Balances of such classes in the aggregate.

 

    -74-

     

    

 

“Operating
Advisor Consulting Fee”: A fee for each Major Decision on which the Operating Advisor has consulting obligations and
performed its duties with respect to such Major Decision equal to $10,000 (or such lesser amount as the related Mortgagor agrees
to pay) with respect to any Mortgage Loan (other than the Non-Serviced Mortgage Loans or the Servicing Shift Mortgage Loans
and each related Companion Loan), payable pursuant to Section 3.05 of this Agreement; provided, however,
that no such fee shall be payable unless specifically paid by the related Mortgagor as a separately identifiable fee; provided,
further, that the Operating Advisor may in its sole discretion reduce the Operating Advisor Consulting Fee with respect
to any Major Decision; provided, further, however, that to the extent such fee is incurred after the outstanding
Certificate Balances of the Control Eligible Certificates have been reduced to zero as a result of the allocation of Realized
Losses to such Certificates, such fee shall be payable in full to the Operating Advisor as an expense of the Trust; provided,
further, that the Master Servicer or the Special Servicer, as applicable, may waive or reduce the amount of any Operating
Advisor Consulting Fee payable by the related Mortgagor if it determines that such full or partial waiver is in accordance with
the Servicing Standard (provided that the Master Servicer or the Special Servicer, as applicable, shall consult, on a non-binding
basis, with the Operating Advisor prior to any such waiver or reduction).

 

“Operating
Advisor Expenses”: With respect to any Distribution Date, an amount equal to any unreimbursed indemnification amounts
or additional trust fund expenses payable to the Operating Advisor pursuant to this Agreement (other than the Operating Advisor
Fee and the Operating Advisor Consulting Fee).

 

“Operating
Advisor Fee”: With respect to each Mortgage Loan and REO Loan (but excluding each Non-Serviced Mortgage Loan other than the Goodyear Portfolio Mortgage Loan,
each Servicing Shift Mortgage Loan and each Companion Loan), the fee payable to the Operating Advisor pursuant to Section
3.26(i).

 

“Operating
Advisor Fee Rate”: With respect to each Interest Accrual Period related to any applicable Distribution Date, a per
annum rate of 0.00250%.

 

“Operating
Advisor Standard”: The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best
interest of, and for the benefit of, the Certificateholders and, with respect to any Serviced Whole Loan for the benefit of the
holders of the related Companion Loan (as a collective whole as if such Certificateholders and Companion Holders constituted a
single lender), and not in the best interest of nor for the benefit of any particular Class of Certificateholders (as determined
by the Operating Advisor in the exercise of its good faith and reasonable judgment), but without regard to any conflict of interest
arising from any relationship that the Operating Advisor or any of its Affiliates may have with any of the underlying Mortgagors,
any Sponsor, any Mortgage Loan Seller, the Depositor, the Master Servicer, the Special Servicer, the Asset Representations Reviewer,
the Directing Certificateholder, any Certificateholder or any of their Affiliates.

 

“Operating
Advisor Termination Event”: Any of the following events, whether any such event is voluntary or involuntary or is effected
by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body:

 

    -75-

     

    

 

(a)           any failure by the Operating Advisor to observe or perform in any material respect any of its covenants or agreements or the material
breach of any of its representations or warranties under this Agreement, which failure continues unremedied for a period of thirty
(30) days after the date on which written notice of such failure, requiring the same to be remedied, is given to the Operating
Advisor by any party to this Agreement or to the Operating Advisor, the Certificate Administrator and the Trustee by the Holders
of Certificates evidencing greater than 25% of the aggregate Voting Rights, provided that any such failure which is not
curable within such thirty (30) day period, the Operating Advisor will have an additional cure period of thirty (30) days
to effect such cure so long as it has commenced to cure such failure within the initial thirty (30) day period and has provided
the Trustee and the Certificate Administrator with an officer’s certificate certifying that it has diligently pursued, and
is continuing to pursue, such cure;

 

(b)           any failure by the Operating Advisor to perform in accordance with the Operating Advisor Standard which failure continues unremedied
for a period of thirty (30) days after the date on which written notice of such failure, requiring the same to be remedied,
is given to the Operating Advisor by any party to this Agreement;

 

(c)           any failure by the Operating Advisor to be an Eligible Operating Advisor, which failure continues unremedied for a period of thirty
(30) days after the date on which written notice of such failure, requiring the same to be remedied, is given to the Operating
Advisor by any party to this Agreement;

 

(d)           a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding up or liquidation of its affairs, shall have been entered against the operating advisor, and such decree or order shall
have remained in force undischarged or unstayed for a period of sixty (60) days;

 

(e)           the Operating Advisor consents to the appointment of a conservator or receiver or liquidator or liquidation committee in any insolvency,
readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of or relating to the
operating advisor or of or relating to all or substantially all of its property; or

 

(f)            the Operating Advisor admits in writing its inability to pay its debts generally as they become due, files a petition to take
advantage of any applicable insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily
suspends payment of its obligations.

 

“Opinion
of Counsel”: A written opinion of counsel, who may, without limitation, be salaried counsel for the Depositor, the Master
Servicer, the Special Servicer, the Operating Advisor or the Asset Representations Reviewer, acceptable in form and delivered
to the Trustee and the Certificate Administrator, except that any opinion of counsel relating to (a) the qualification of
any Trust REMIC as a REMIC, (b) compliance with the REMIC Provisions, or (c)

 

    -76-

     

    

 

the
resignation of the Master Servicer, the Special Servicer or the Depositor pursuant to Section 6.05, must be an opinion
of counsel who is in fact Independent of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the
Asset Representations Reviewer.

 

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

 

“Original
Lower-Tier Principal Amount”: With respect to any Class of Lower-Tier Regular Interest, the initial principal
amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

 

“Original
Notional Amount”: With respect to the Class X-A Notional Amount, the Class X-B Notional Amount and the Class X-D
Notional Amount, the applicable initial Notional Amount thereof as of the Closing Date, as specified in the Preliminary Statement.

 

“Other
Asset Representations Reviewer”: Any asset representations reviewer under an Other Pooling and Servicing Agreement.

 

“Other
Certificate Administrator”: Any certificate administrator under an Other Pooling and Servicing Agreement.

 

“Other
Depositor”: Any depositor under an Other Pooling and Servicing Agreement.

 

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

 

“Other
Pooling and Servicing Agreement”: Any trust and servicing agreement or pooling and servicing agreement that creates
a trust whose assets include any Serviced Companion Loan.

 

“Other
Securitization”: As defined in Section 11.06.

 

“Other
Servicer”: Any master servicer or special servicer, as applicable, under an Other Pooling and Servicing Agreement.

 

“Other
Trustee”: Any trustee under an Other Pooling and Servicing Agreement.

 

    -77-

     

    

 

“Ownership
Interest”: As to any Certificate, any ownership or security interest in such Certificate as the Holder thereof and any
other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

 

“P&I
Advance”: As to any Mortgage Loan or REO Loan (but not any related Companion Loan), any advance made by the Master Servicer
or the Trustee, as applicable, pursuant to Section 4.03 or Section 7.05.

 

“P&I
Advance Date”: The Business Day immediately prior to each Distribution Date.

 

“P&I
Advance Determination Date”: With respect to any Distribution Date, the close of business on the related Determination
Date.

 

“Pari
Passu Companion Loan”: A Companion Loan that is pari passu in right of payment with the Mortgage Loan included
in the related Whole Loan.

 

“Pari
Passu Companion Loan Holder”: Any holder of record of any Pari Passu Companion Loan.

 

“Pari
Passu Whole Loan”: A Whole Loan that consists of a Mortgage Loan and one or more Pari Passu Companion Loans but does
not include an AB Subordinate Companion Loan. The Pari Passu Whole Loans related to the Trust as of the Closing Date are the Whole
Loans described in the table under the heading “Whole Loans” in the Preliminary Statement hereto as having a “Companion
Loan Type” of “Pari Passu”.

 

“Pass-Through
Rate”: Any of the Class A-1 Pass-Through Rate, the Class A-2 Pass-Through Rate, the Class A-3 Pass-Through
Rate, the Class A-4 Pass-Through Rate, the Class A-SB Pass-Through Rate, the Class A-S Pass-Through Rate,
the Class B Pass-Through Rate, the Class C Pass-Through Rate, the Class D Pass-Through Rate, the Class E-RR Pass-Through
Rate, the Class F-RR Pass-Through Rate, the Class G-RR Pass-Through Rate, the Class H-RR Pass-Through Rate, the Class
J-RR Pass-Through Rate, the Class X-A Pass-Through Rate, the Class X-B Pass-Through Rate or the Class X-D Pass-Through
Rate, as the case may be.

 

“PCAOB”:
The Public Company Accounting Oversight Board.

 

“Penalty
Charges”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Companion Loan
(or any successor REO Loan), any amounts actually collected thereon (or, in the case of a Serviced Companion Loan (or any successor
REO Loan thereto) that is part of a Serviced Whole Loan, actually collected on such Serviced Whole Loan, and allocated and paid
on such Serviced Companion Loan (or any successor REO Loan), as applicable, in accordance with the related Intercreditor Agreement)
that represent late payment charges or Default Interest, other than a Prepayment Premium or a Yield Maintenance Charge.

 

“Percentage
Interest”: As to any Certificate (other than the Class R Certificates), the percentage interest evidenced thereby in
distributions required to be made with respect to the related Class. With respect to any Certificate (other than the Class R Certificates),
the percentage

 

    -78-

     

    

 

interest
is equal to the Denomination as of the Closing Date of such Certificate divided by the Original Certificate Balance or
Original Notional Amount, as applicable, of such Class of Certificates as of the Closing Date. With respect to a Class R Certificate,
the percentage interest is set forth on the face thereof.

 

“Performance
Certification”: As defined in Section 11.06.

 

“Performing
Party”: As defined in Section 11.12.

 

“Periodic
Payment”: With respect to any Mortgage Loan or any related Companion Loan, the scheduled monthly payment of principal
and/or interest on such Mortgage Loan or Companion Loan, including any Balloon Payment, which is payable (as the terms of the
applicable Mortgage Loan or Companion Loan may be changed or modified in connection with a bankruptcy or similar proceedings involving
the related Mortgagor or by reason of a modification, extension, waiver or amendment granted or agreed to pursuant to the terms
hereof) by a Mortgagor from time to time under the related Mortgage Note and applicable law, without regard to any acceleration
of principal of such Mortgage Loan or Companion Loan by reason of default thereunder.

 

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

 

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

 

    -79-

     

    

 

if
such obligations mature in sixty (60) days or less, or rated at least “AA-”, “A-1+” or “AAAm”
by S&P, if such obligations mature in 365 days or less;

 

(ii)              
time deposits, unsecured certificates of deposit, or bankers’ acceptances that mature in one (1) year or less after the
date of issuance and are issued or held by any depository institution or trust company (including the Trustee) incorporated or
organized under the laws of the United States of America or any State thereof and subject to supervision and examination by federal
or state banking authorities with respect to which (A) with respect to S&P, (I) in the case of such investments with
maturities of six (6) months or less, the short-term debt obligations of which are rated in the highest short-term rating
category by S&P and (II) in the case of such investments with maturities of more than six (6) months, the long-term obligations
of which are rated at least “AAA” by S&P (or, in the case of any such Rating Agency as set forth in clauses (I)
through (II) above, such lower rating as is the subject of a Rating Agency Confirmation by such Rating Agency) and (B) with respect
to Fitch and KBRA, the commercial paper or other short-term debt obligations of such depository institution or trust company
are rated in the highest rating categories of each of Fitch and KBRA (in the case of KBRA, if rated by KBRA); or, in each case,
such other rating as would not result in the downgrading, withdrawal or qualification of the then-current rating assigned
by each Rating Agency to any Class of Certificates (or, insofar as there is then outstanding any class of Serviced Companion Loan
Securities that is then rated by such rating agency, such class of securities) as evidenced in writing;

 

(iii)             
repurchase agreements or obligations with respect to any security described in clause (i) above where such security has a
remaining maturity of one year or less and where such repurchase obligation has been entered into with a depository institution
or trust company (acting as principal) described in clause (ii) above;

 

(iv)           
debt obligations bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States
of America or any state thereof which, (A) if such debt obligations have a term of three months or less, (1) the short-term obligations
of which corporation are rated in the highest short-term debt rating category of Fitch and KBRA (if then rated by KBRA) and (2)
the short-term obligations of which corporation are rated at least “A-1” by S&P and the long-term obligations
of which corporation are rated at least “AA-” by S&P, (B) if such debt obligations have a term of more than three
months and not in excess of six months, the short-term obligations of which are rated in the highest short-term rating category
by each Rating Agency and the long-term obligations of which corporation are rated at least “AA-” by S&P and (C)
if such debt obligations have a term of more than six months, the short-term obligations of which corporation are rated in the
highest short-term rating category by each Rating Agency and the long-term obligations of which corporation are rated “AAA”
by S&P (or, in the case of any such Rating Agency as set forth in sub-clauses (A) through (C) above, such lower rating as
is the subject of a Rating Agency Confirmation by such Rating Agency); provided, however, that securities issued
by any particular corporation

 

    -80-

     

    

 

will
not be Permitted Investments to the extent that investment therein will cause the then-outstanding principal amount of securities
issued by such corporation and held in the accounts established hereunder to exceed 10% of the sum of the aggregate principal
balance and the aggregate principal amount of all Permitted Investments in such accounts;

 

(v)            
commercial paper of any corporation incorporated under the laws of the United States or any state thereof (or of any corporation
not so incorporated, provided that the commercial paper is United States Dollar denominated and amounts payable thereunder
are not subject to any withholding imposed by any non-United States jurisdiction) (a) (I) in the case of such investments
with maturities of thirty (30) days or less, the short term obligations of which corporation are rated at least “A-1”
by S&P and “F1” by Fitch, (II) in the case of such investments with maturities of three (3) months or less, but
more than thirty (30) days, the short-term obligations of which are rated at least “A-1+” by S&P (or “A-1”
by S&P if the obligations mature within sixty (60) days) and “F1+” by Fitch, or the long-term obligations of which
are rated at least “AA-” by Fitch (with a short-term rating of “F1” by Fitch) and “AA-” by
S&P (with a short-term rating of “A-1” by S&P), (III) in the case of such investments with maturities of six
(6) months or less, but more than three (3) months, the (A) the short-term obligations of which are rated at least “A-1+”
by S&P or the long-term obligations of which corporation are rated at least “AA-” by S&P (with a short-term
rating of “A-1” by S&P), and (B) the short-term obligations of which are rated at least “F1+” by Fitch,
or the long-term obligations of which corporation are rated at least “AA-” by Fitch (with a short-term rating of “F1”
by Fitch), and (IV) in the case of such investments with maturities of more than six (6) months, (A) the short-term obligations
of which are rated at least “A-1+” by S&P or the long-term obligations of which are rated at least “AA-”
by S&P (with a short-term rating of “A-1” by S&P), and (B) the short-term obligations of which are rated at
least “F1+” by Fitch, or the long-term obligations of which are rated at least “AA-” by Fitch (with a
short-term rating of “F1” by Fitch), and (b) such commercial paper is rated in the highest short-term category by
KBRA (if then rated by KBRA) (or such lower rating as is the subject of a Rating Agency Confirmation by such Rating Agency relating
to the Certificates and any Serviced Companion Loan Securities);

 

(vi)           
money market funds (including the Federated Prime Obligation Money Market Fund, US Bank Long Term Eurodollar Sweep, the Wells
Fargo Money Market Funds or the Wells Fargo Advantage Government Money Market Fund), which seek to maintain a constant net asset
value per share, so long as any such fund is rated “AAAm” by S&P and in the highest short term unsecured debt
ratings category by each of Fitch and KBRA (or, if not rated by KBRA, an equivalent rating (or higher) by at least two (2) NRSROs
(which must include S&P and may include any of the other Rating Agencies) or otherwise acceptable to such Rating Agency, in
any such case, as confirmed in a Rating Agency Confirmation) relating to the Certificates and any Serviced Companion Loan Securities;

 

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(vii)          
any other demand, money market or time deposit, obligation, security or investment, but for the failure to satisfy one or more
of the minimum rating(s) set forth in the applicable clause, would be listed in clauses (i) – (vi) above with respect
to which a Rating Agency Confirmation has been obtained from each Rating Agency for which the minimum ratings set forth in the
applicable clause is not satisfied with respect to such demand, money market or time deposit, obligation, security or investment
and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25); and

 

(viii)        
any other demand, money market or time deposit, obligation, security or investment not listed in clauses (i) – (vi)
above with respect to which a Rating Agency Confirmation has been obtained from each and every Rating Agency;

 

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

 

“Permitted
Special Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, banking fees, title insurance
(or title agency) and/or other fees, insurance commissions or fees and appraisal fees received or retained by the Special Servicer
or any of its respective Affiliates in connection with any services performed by such party with respect to any Mortgage Loan
and Serviced Companion Loan (including any related REO Property) in accordance with this Agreement.

 

 

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

 

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

 

“Plan”:
As defined in Section 5.03(n).

 

“Pre-Close
Information”: As defined in Section 3.13(c).

 

“Preliminary
Dispute Resolution Election Notice”: As defined in Section 2.03(l)(i).

 

“Preliminary
Prospectus” The Preliminary Prospectus, dated May 13, 2019, relating to the Registered Certificates.

 

“Prepayment
Assumption”: A “constant prepayment rate” of 0% used for determining the accrual of original issue discount
and market discount, if any, and the amortization premium, if any, on the Certificates for federal income tax purposes.

 

“Prepayment
Interest Excess”: For any Distribution Date and with respect to any Mortgage Loan (other than any Non-Serviced Mortgage
Loan) or Serviced Whole Loan that was subject to a Principal Prepayment in full or in part during the related Collection Period,
which Principal Prepayment was applied to such Mortgage Loan or Serviced Whole Loan, as applicable, after the related Due Date
but on or before the following Determination Date, the amount of interest (net of the related Servicing Fees), to the extent collected
from the related Mortgagor (without regard to any Prepayment Premium or Yield Maintenance Charge actually collected), that would
have accrued at a rate per annum equal to (x) in the case of any such Mortgage Loan other than a Serviced Mortgage
Loan, the sum of (i) the related Net Mortgage Rate for such Mortgage Loan, and (ii) the Certificate Administrator Fee
Rate, the Operating Advisor Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property
Royalty License Fee Rate and (y) in the case of any Serviced Whole Loan, the Mortgage Rate (net of Servicing Fees) on the
amount of such Principal Prepayment from such Due Date to, but not including, the date of such prepayment (or any later date through
which interest accrues). Prepayment Interest Excesses (to the extent not offset by Prepayment Interest Shortfalls or required
to be paid as Compensating Interest Payments) collected on the Mortgage Loans (other than any Non-Serviced Mortgage Loan)
and any Serviced Companion Loan, will be retained by the Master Servicer as additional servicing compensation.

 

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“Prepayment
Interest Shortfall”: For any Distribution Date and with respect to any Mortgage Loan (other than any Non-Serviced
Mortgage Loan) or Serviced Whole Loan that was subject to a Principal Prepayment in full or in part during the related Collection
Period, which Principal Prepayment was applied to such Mortgage Loan or Serviced Whole Loan, as applicable, after the related
Determination Date (or, with respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan,
as applicable, with a Due Date occurring after the related Determination Date, the related Due Date) and prior to the following
Due Date, the amount of interest (net of the related Servicing Fees), to the extent not collected from the related Mortgagor (without
regard to any Prepayment Premium or Yield Maintenance Charge actually collected), that would have accrued at a rate per annum
equal to (x) in the case of any such Mortgage Loan other than a Serviced Mortgage Loan, the sum of (i) the related
Net Mortgage Rate for such Mortgage Loan, and (ii) the Certificate Administrator Fee Rate, the Operating Advisor Fee Rate,
the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate and (y) in
the case of any Serviced Whole Loan, the Mortgage Rate (net of Servicing Fees) on the amount of such Principal Prepayment during
the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan or Serviced Whole Loan,
as applicable, and ending on such following Due Date. With respect to any Serviced AB Whole Loan, any Prepayment Interest Shortfall
for any Distribution Date shall be allocated first to the related AB Subordinate Companion Loan and then to the related Mortgage
Loan and any related Serviced Pari Passu Companion Loan.

 

“Prepayment
Premium”: With respect to any Mortgage Loan, any premium, fee or other additional amount (other than a Yield Maintenance
Charge) paid or payable, as the context requires, by a Mortgagor in connection with a principal prepayment on, or other early
collection of principal of, that Mortgage Loan or any successor REO Loan with respect thereto (including any payoff of a Mortgage
Loan by a mezzanine lender on behalf of the subject Mortgagor if and as set forth in the related Intercreditor Agreement).

 

“Primary
Collateral”: With respect to any Crossed Underlying Loan, that portion of the Mortgaged Property designated as directly
securing such Crossed Underlying Loan and excluding any Mortgaged Property as to which the related lien may only be foreclosed
upon by exercise of the cross-collateralization provisions of such Crossed Underlying Loan.

 

“Primary
Servicing Fee”: The monthly fee payable by the Master Servicer solely from the Servicing Fee to each Initial Sub-Servicer,
which monthly fee accrues at the rate per annum specified as such in the Sub-Servicing Agreement with such Initial
Sub-Servicer.

 

“Prime
Rate”: The “Prime Rate” as published in the “Money Rates” section of the New York City edition
of The Wall Street Journal (or, if such section or publication is no longer available, such other comparable publication as determined
by the Certificate Administrator in its reasonable discretion) as may be in effect from time to time, or, if the “Prime
Rate” no longer exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable discretion)
as may be in effect from time to time.

 

“Principal
Balance Certificates”: Each of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class
A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G-RR, Class H-RR and Class J-RR Certificates.

 

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“Principal
Distribution Amount”: With respect to any Distribution Date, an amount equal to the sum of the following amounts: (a) the
Principal Shortfall for such Distribution Date, (b) the Scheduled Principal Distribution Amount for such Distribution Date
and (c) the Unscheduled Principal Distribution Amount for such Distribution Date; provided that the Principal Distribution
Amount for any Distribution Date shall be reduced, to not less than zero, by the amount of any reimbursements of (A) Nonrecoverable
Advances (including any servicing advance with respect to any Non-Serviced Mortgage Loan under the related Non-Serviced
PSA reimbursed out of general collections on the Mortgage Loans), with interest on such Nonrecoverable Advances at the Reimbursement
Rate that are paid or reimbursed from principal collections on the Mortgage Loans in a period during which such principal collections
would have otherwise been included in the Principal Distribution Amount for such Distribution Date and (B) Workout-Delayed
Reimbursement Amounts paid or reimbursed from principal collections on the Mortgage Loans in a period during which such principal
collections would have otherwise been included in the Principal Distribution Amount for such Distribution Date (provided
that, in the case of clauses (A) and (B) above, if any of the amounts that were reimbursed from principal collections
on the Mortgage Loans (including REO Loans) are subsequently recovered on the related Mortgage Loan (or REO Loan), such recovery
will increase the Principal Distribution Amount for the Distribution Date related to the period in which such recovery occurs).

 

“Principal
Prepayment”: Any payment of principal made by the Mortgagor on a Mortgage Loan or Serviced Whole Loan that is received
in advance of its scheduled Due Date as a result of such prepayment.

 

“Principal
Shortfall”: For any Distribution Date after the initial Distribution Date with respect to the Mortgage Loans, the amount,
if any, by which (a) the related Principal Distribution Amount for the preceding Distribution Date, exceeds (b) the
aggregate amount actually distributed on the preceding Distribution Date in respect of such Principal Distribution Amount. The
Principal Shortfall for the initial Distribution Date will be zero.

 

“Privileged
Communications”: Any correspondence between the Directing Certificateholder and the Special Servicer referred to in
clause (i) of the definition of “Privileged Information”.

 

“Privileged
Information”: Any (i) correspondence between the Directing Certificateholder and the Special Servicer related to
any Specially Serviced Loan (other than with respect to any Excluded Loan) or the exercise of the Directing Certificateholder’s
consent or consultation rights under this Agreement, (ii) strategically sensitive information (including any such information
contained within any Asset Status Report) that the Special Servicer has reasonably determined (and has identified as privileged
or confidential information) could compromise the Trust’s position in any ongoing or future negotiations with the related
Mortgagor or other interested party and (iii) information subject to attorney-client privilege. The Master Servicer,
the Special Servicer, the Operating Advisor and the Asset Representations Reviewer shall be entitled to rely on any identification
of materials as “attorney-client privileged” without liability for any such reliance hereunder.

 

“Privileged
Information Exception”: With respect to any Privileged Information, at any time (a) such Privileged Information
becomes generally available to the public other than

 

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as
a result of a disclosure directly or indirectly by the party restricted from disclosing such Privileged Information (the “Restricted
Party”), (b) it is reasonable and necessary for the Restricted Party to disclose such Privileged Information in
working with legal counsel, auditors, taxing authorities or other governmental agencies, (c) such Privileged Information
was already known to such Restricted Party and not otherwise subject to a confidentiality obligation and/or (d) the Restricted
Party is required by law, rule, regulation, order, judgment or decree to disclose such information.

 

“Privileged
Person”: The Depositor and its designees, the Initial Purchasers, the Underwriters, the Mortgage Loan Sellers, the Master
Servicer, the Special Servicer (including, for the avoidance of doubt, any Excluded Special Servicer), the Trustee, the Certificate
Administrator, any Additional Servicer designated by the Master Servicer or the Special Servicer, the Operating Advisor, any Affiliate
of the Operating Advisor designated by the Operating Advisor, the Asset Representations Reviewer, any Companion Holder who provides
an Investor Certification, any Non-Serviced Master Servicer, any Non-Serviced Special Servicer, any Other Servicer, any Person
(including the Directing Certificateholder) who provides the Certificate Administrator with an Investor Certification, and any
NRSRO (including any Rating Agency) that provides the Certificate Administrator with an NRSRO Certification, which Investor Certification
and NRSRO Certification may be submitted electronically via the Certificate Administrator’s Website; provided, however,
that in no event may a Borrower Party (other than a Borrower Party that is the Special Servicer) be entitled to receive (i) if
such party is the Directing Certificateholder or any Controlling Class Certificateholder, any Excluded Information via the Certificate
Administrator’s Website (unless a loan-by-loan segregation is later performed by the Certificate Administrator in
which case such access shall only be prohibited with respect to the related Excluded Loan(s)), and (ii) if such party is
not the Directing Certificateholder or any Controlling Class Certificateholder, any information other than the Distribution Date
Statement. In determining whether any Person is an Additional Servicer or an Affiliate of the Operating Advisor, the Certificate
Administrator may rely on direction by the Master Servicer, the Special Servicer, any Mortgage Loan Seller or the Operating Advisor,
as the case may be.

 

Notwithstanding
anything to the contrary in this Agreement, if the Special Servicer obtains knowledge that it has become a Borrower Party, the
Special Servicer shall nevertheless be a Privileged Person; provided that the Special Servicer (i) shall not directly
or indirectly provide any information related to the related Excluded Special Servicer Loan to (A) the related Borrower Party,
(B) any of the Special Servicer’s employees or personnel or any of its Affiliates involved in the management of any
investment in the related Borrower Party or the related Mortgaged Property or (C) to its actual knowledge, any non-Affiliate
that holds a direct or indirect ownership interest in the related Borrower Party, and (ii) shall maintain sufficient internal
controls and appropriate policies and procedures in place in order to comply with the obligations described in clause (i)
above; provided, further, that nothing in this Agreement shall be construed as an obligation of the Master Servicer
or the Certificate Administrator to restrict access by the Special Servicer or any Excluded Special Servicer to any information
related to any Excluded Special Servicer Loan and in no case shall the Master Servicer or the Certificate Administrator be held
liable if the Special Servicer accesses any Excluded Special Servicer Information relating to the Excluded Special Servicer Loan;
provided, further, however, that any Excluded Controlling Class Holder shall be permitted to reasonably request
and to obtain in accordance with Section 4.02(f) of this Agreement any Excluded Information relating to any Excluded Loan
with respect to which such Excluded

 

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Controlling
Class Holder is not a Borrower Party (if such Excluded Information is not otherwise available to such Excluded Controlling Class
Holder via the Certificate Administrator’s Website on account of it constituting Excluded Information).

 

“Prohibited
Party”: Any proposed Servicing Function Participant that is listed on the Depositor’s Do Not Hire List.

 

“Prohibited
Prepayment”: As defined in the definition of Compensating Interest Payments.

 

“Proposed
Course of Action”: As defined in Section 2.03(l)(i).

 

“Proposed
Course of Action Notice”: As defined in Section 2.03(l)(i).

 

“Prospectus”:
The Prospectus, dated May 20, 2019, relating to the Registered Certificates.

 

“PSA
Party Repurchase Request”: As defined in Section 2.03(k)(ii).

 

“Purchase
Price”: With respect to any Mortgage Loan (or any related REO Loan) (including, to the extent required pursuant to the
final paragraph hereof, any related Companion Loan) to be purchased pursuant to (A) Section 5 of the related Mortgage
Loan Purchase Agreement by the related Mortgage Loan Seller, (B) Section 3.16, or (C) Section 9.01, a
price, without duplication, equal to:

 

(i)               
the outstanding principal balance of such Mortgage Loan (or any related REO Loan (including for such purpose, solely to the extent
required pursuant to the final paragraph hereof, the related Companion Loan)) as of the date of purchase; plus

 

(ii)             
all accrued and unpaid interest on the Mortgage Loan (or any related REO Loan (including for such purpose, to the extent required
pursuant to the final paragraph hereof, the related Companion Loan)), at the related Mortgage Rate in effect from time to time
(excluding any portion of such interest that represents Default Interest), to, but not including, the Due Date therefor immediately
preceding or coinciding with the Determination Date for the Collection Period of purchase; plus

 

(iii)            
all related unreimbursed Servicing Advances plus accrued and unpaid interest on all related Advances at the Reimbursement
Rate, Special Servicing Fees (whether paid or unpaid) and any other additional trust fund expenses (except for Liquidation Fees)
in respect of such Mortgage Loan (or related REO Loan (including for such purpose, to the extent required pursuant to the final
paragraph hereof, the related Companion Loan)), if any; plus

 

(iv)            
if such Mortgage Loan (or related REO Loan) is being repurchased or substituted by the related Mortgage Loan Seller, pursuant
to Section 5 of the applicable Mortgage Loan Purchase Agreement, all reasonable out-of-pocket

 

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expenses
reasonably incurred or to be incurred by the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator
or the Trustee in respect of the omission, breach or defect giving rise to the repurchase or substitution obligation including
any expenses arising out of the enforcement of the repurchase or substitution obligation, including, without limitation, legal
fees and expenses and any additional trust fund expenses relating to such Mortgage Loan (or related REO Loan); provided,
however, that such out-of-pocket expenses shall not include expenses incurred by Certificateholders or Certificate
Owners in instituting an Asset Review Vote Election, in taking part in an Asset Review vote or in exercising such Certificateholder’s
or Certificate Owner’s, as applicable, rights under the dispute resolution mechanics pursuant to Section 2.03(l);

 

(v)             
Liquidation Fees, if any, payable with respect to such Mortgage Loan (or related REO Loan (including for such purpose, to the
extent required pursuant to the final paragraph hereof, the related Companion Loan)) (which will not include any Liquidation Fees
if such repurchase occurs or Loss of Value Payment is received during the Initial Cure Period or, if applicable, prior to the
expiration of the Extended Cure Period); plus

 

(vi)           
solely in the case of a repurchase or substitution by the related Mortgage Loan Seller, any Asset Representations Reviewer Asset
Review Fee for such Mortgage Loan, to the extent not previously paid by the related Mortgage Loan Seller.

 

Solely
with respect to any Serviced Whole Loan to be sold pursuant to Section 3.16(a)(iii), “Purchase Price” shall
mean the amount calculated in accordance with the preceding sentence in respect of the related Whole Loan, including, for such
purposes, the Mortgage Loan and the related Companion Loan, as applicable. With respect to any REO Property to be sold pursuant
to Section 3.16(b), “Purchase Price” shall mean the amount calculated in accordance with the second preceding
sentence in respect of the related REO Loan (including any related Companion Loan). With respect to any sale pursuant to Section
3.16(a)(ii) or Section 3.16(e) or for purposes of calculating any Gain-on-Sale Proceeds, the “Purchase
Price” shall be allocated between the related Mortgage Loan and Companion Loan, as applicable, in accordance with, and shall
be equal to the amount provided pursuant to, the provisions of the related Intercreditor Agreement. Notwithstanding the foregoing,
with respect to any repurchase pursuant to sub-clause (A) and sub-clause (C) hereof, the “Purchase Price”
shall not include any amounts payable in respect of any related Companion Loan.

 

“Qualified
Institutional Buyer”: A “qualified institutional buyer” as defined in Rule 144A under the Act.

 

“Qualified
Insurer”: (i) With respect to any Mortgage Loan, REO Loan or REO Property, an insurance company or security or
bonding company qualified to write the related Insurance Policy in the relevant jurisdiction with an insurance financial strength
rating of at least: (a) “A-” by S&P (or, if not rated by S&P, at least an equivalent rating by one NRSRO
(which may include Fitch or KBRA) and (b) “A” by Fitch (or, if not rated by Fitch, at least “A-”
or an equivalent rating as “A-” by one other NRSRO (which may include S&P or KBRA)), and (ii) with

 

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respect
to the fidelity bond and errors and omissions insurance policy required to be maintained pursuant to Section 3.07(c), except
as otherwise permitted by Section 3.07(c), an insurance company that has a claims paying ability (or the obligations which
are guaranteed or backed by a company having such claims paying ability) rated by at least one (1) of the following rating agencies
of at least (a) “A3” by Moody’s, (b) “A-” by S&P, (c) “A-” by Fitch, (d) “A-:X”
by A.M. Best Company, Inc. or (e) “A(low)” by DBRS, or, in the case of clauses (i) or (ii), any other insurer
acceptable to the Rating Agencies, as evidenced by a Rating Agency Confirmation and a confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced Companion
Loan Securities, if any (provided that such rating agency confirmation may be considered satisfied in the same manner as
any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25).

 

“Qualified
Mortgage”: A “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, but without
regard to the rule of Treasury Regulations Section 1.860G-2(f)(2) that causes a defective obligation to be treated as
a “qualified mortgage”.

 

“Qualified
Replacement Special Servicer”: A replacement special servicer that (i) satisfies all of the eligibility requirements
applicable to the Special Servicer contained in this Agreement, (ii) is not the Operating Advisor, the Asset Representations
Reviewer or an Affiliate of the Operating Advisor or the Asset Representations Reviewer (and, if appointed by the Directing Certificateholder
or with the approval of the requisite vote of Certificateholders following the Operating Advisor’s recommendation to replace
the Special Servicer pursuant to Section 7.01(d), is not the originally replaced Special Servicer or its affiliate), (iii) is
not obligated to pay the Operating Advisor (x) any fees or otherwise compensate the Operating Advisor in respect of its obligations
under this Agreement, and (y) for the appointment of the successor special servicer or the recommendation by the Operating
Advisor for the replacement special servicer to become the Special Servicer, (iv) is not entitled to receive any compensation
from the Operating Advisor other than compensation that is not material and is unrelated to the Operating Advisor’s recommendation
that such party be appointed as the replacement special servicer, (v) is not entitled to receive any fee from the Operating
Advisor for its appointment as successor special servicer, in each case, unless such fee is expressly approved by 100% of the
Certificateholders, (vi) currently has a special servicer rating of at least “CSS3” from Fitch, (vii) is
listed on S&P’s Select Servicer List as a “U.S. Commercial Mortgage Special Servicer”, and (viii) is
currently acting as a special servicer in a transaction rated by KBRA and has not been publicly cited by KBRA as having servicing
concerns as the sole or a material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch
status” in contemplation of a rating downgrade or withdrawal) of securities in a transaction serviced by the applicable
servicer prior to the time of determination.

 

“Qualified
Substitute Mortgage Loan”: A substitute mortgage loan (other than with respect to the Whole Loans, for which no substitution
will be permitted) replacing a removed Mortgage Loan that must, on the date of substitution: (i) have an outstanding principal
balance, after application of all scheduled payments of principal and interest due during or prior to the month of substitution,
whether or not received, not in excess of the Stated Principal Balance of the removed Mortgage Loan as of the Due Date in the
calendar month during which the substitution occurs; (ii) have a fixed Mortgage Rate not less than the Mortgage Rate of the
removed Mortgage

 

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Loan,
determined without regard to any prior modification, waiver or amendment of the terms of the removed Mortgage Loan; (iii) have
the same Due Date as and Grace Period no longer than that of the removed Mortgage Loan; (iv) accrue interest on the same
basis as the removed Mortgage Loan (for example, on the basis of a 360-day year consisting of twelve 30-day months); (v) have
a remaining term to stated maturity not greater than, and not more than five (5) years less than, the remaining term to stated
maturity of the removed Mortgage Loan; (vi) have a then-current loan-to-value ratio equal to or less than the
lesser of the loan-to-value ratio for the removed Mortgage Loan as of the Closing Date and 75%, in each case using the
“value” for the Mortgaged Property as determined using an Appraisal; (vii) comply as of the date of substitution
in all material respects with all of the representations and warranties set forth in the applicable Mortgage Loan Purchase Agreement;
(viii) have an environmental report that indicates no material adverse environmental conditions with respect to the related
Mortgaged Property and which will be delivered as a part of the related Mortgage File; (ix) have a then-current debt
service coverage ratio at least equal to the greater of the original debt service coverage ratio of the removed Mortgage Loan
as of the Closing Date and 1.25x; (x) constitute a “qualified replacement mortgage” within the meaning of Section 860G(a)(4)
of the Code as evidenced by an Opinion of Counsel (provided at the applicable Mortgage Loan Seller’s expense); (xi) not
have a maturity date or an amortization period that extends to a date that is after the date five (5) years prior to the
Rated Final Distribution Date; (xii) have comparable prepayment restrictions to those of the removed Mortgage Loan; (xiii) not
be substituted for a removed Mortgage Loan unless the Trustee and the Certificate Administrator have received Rating Agency Confirmation
from each Rating Agency (the cost, if any, of obtaining such Rating Agency Confirmation to be paid by the applicable Mortgage
Loan Seller); (xiv) have been approved by the Directing Certificateholder (so long as a Control Termination Event has not
occurred and is not continuing and the affected Mortgage Loan is not an Excluded Loan); (xv) prohibit defeasance within two
(2) years of the Closing Date; (xvi) not be substituted for a removed Mortgage Loan if it would result in an Adverse
REMIC Event other than the imposition of a tax on income expressly permitted or contemplated to be imposed by the terms of this
Agreement, as determined by an Opinion of Counsel at the cost of the related Mortgage Loan Seller; (xvii) have an engineering
report that indicates no material adverse property condition or deferred maintenance with respect to the related Mortgaged Property
that will be delivered as a part of the related Servicing File; and (xviii) be current in the payment of all scheduled payments
of principal and interest then due. In the event that more than one mortgage loan is substituted for a removed Mortgage Loan,
then the amounts described in clause (i) shall be determined on the basis of aggregate Stated Principal Balances and each
such proposed Qualified Substitute Mortgage Loan shall individually satisfy each of the requirements specified in clauses (ii)
through (xviii); provided that the rates described in clause (ii) above and the remaining term to stated maturity
referred to in clause (v) above shall be determined on a weighted average basis; provided, further, that no
individual Mortgage Rate (net of the Servicing Fee Rate, any Non-Serviced Primary Servicing Fee Rate, the Certificate Administrator
Fee Rate, the Operating Advisor Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual
Property Royalty License Fee Rate) shall be lower than the highest fixed Pass-Through Rate (and not based on, or subject to
a cap equal to, the Weighted Average Net Mortgage Rate) of any Class of Principal Balance Certificates having a Certificate Balance
then outstanding. When a Qualified Substitute Mortgage Loan is substituted for a removed Mortgage Loan, the applicable Mortgage
Loan Seller shall certify that the Qualified Substitute Mortgage Loan meets all of the requirements of the above definition and
shall send such certification to the Trustee, the Certificate

  

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Administrator
and, prior to the occurrence and continuance of a Consultation Termination Event, the Directing Certificateholder.

 

“RAC
No-Response Scenario”: As defined in Section 3.25(a).

 

“RAC
Requesting Party”: As defined in Section 3.25(a).

 

“Rated
Final Distribution Date”: As to each Class of Certificates, the Distribution Date in May 2052.

 

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

 

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

 

“Rating
Agency Inquiry”: As defined in Section 4.07(c).

 

“Rating
Agency Q&A Forum and Document Request Tool”: As defined in Section 4.07(c).

 

“Realized
Loss”: With respect to any Distribution Date, the amount, if any, by which (i) the aggregate Stated Principal Balance
(for purposes of this definition only, not giving effect to any reductions of the Stated Principal Balance for payments of principal
collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section
3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable
Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable)
expected to be outstanding immediately following such Distribution Date, is less than (ii) the then-aggregate Certificate
Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date.

 

“Record
Date”: With respect to any Distribution Date, the last Business Day of the month immediately preceding the month in
which that Distribution Date occurs.

 

“Registered
Certificates”: The Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class
B, Class C, Class X-A and Class X-B Certificates.

 

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“Regular
Certificates”: Any of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class X-A,
Class X-B, Class A-S, Class B, Class C, Class X-D, Class D, Class E-RR, Class F-RR, Class G-RR, Class H-RR and Class J-RR
Certificates.

 

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

 

“Regulation
AB Companion Loan Securitization”: As defined in Section 11.15(a).

 

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

 

“Regulation
D”: Regulation D under the Act.

 

“Regulation
S”: Regulation S under the Act.

 

“Regulation
S Book-Entry Certificates”: The Non-Registered Certificates sold to institutions that are non-United States
Securities Persons in Offshore Transactions in reliance on Regulation S and represented by one or more Book-Entry Non-Registered
Certificates deposited with the Certificate Administrator as custodian for the Depository.

 

“Reimbursement
Rate”: The rate per annum applicable to the accrual of interest on Servicing Advances in accordance with Section
3.03(d) and P&I Advances in accordance with Section 4.03(d), which rate per annum shall equal the Prime
Rate.

 

“Related
Certificates” and “Related Lower-Tier Regular Interests”: For each of the following Classes of
Certificates, as applicable, the related Class of Lower-Tier Regular Interests; and for each of the following Classes of Lower-Tier
Regular Interests, the related Class of Certificates, as applicable, set forth below:

 

	Related
                           Certificates 
	 	Related
                           Lower-Tier Regular Interest 

	Class A-1 Certificates	 	Class LA1 Uncertificated Interest
	Class A-2 Certificates	 	Class LA2 Uncertificated Interest
	Class A-3 Certificates	 	Class LA3 Uncertificated Interest
	Class A-4 Certificates	 	Class LA4 Uncertificated Interest
	Class A-SB Certificates	 	Class LASB Uncertificated Interest
	Class A-S Certificates	 	Class LAS Uncertificated Interest
	Class B Certificates	 	Class LB Uncertificated Interest
	Class C Certificates	 	Class LC Uncertificated Interest

 

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	Related
                           Certificates 
	 	Related
                           Lower-Tier Regular Interest 

	Class D Certificates	 	Class LD Uncertificated Interest
	Class E-RR Certificates	 	Class LERR Uncertificated Interest
	Class F-RR Certificates	 	Class LFRR Uncertificated Interest
	Class G-RR Certificates	 	Class LGRR Uncertificated Interest
	Class H-RR Certificates	 	Class LHRR Uncertificated Interest
	Class J-RR Certificates	 	Class LJRR Uncertificated Interest

 

“Relevant
Servicing Criteria”: The Servicing Criteria applicable to a specific party, as set forth on Exhibit AA attached
hereto. For clarification purposes, multiple parties can have responsibility for the same Relevant Servicing Criteria. With respect
to a Servicing Function Participant engaged by the Trustee, the Certificate Administrator, the Master Servicer or the Special
Servicer, the term “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing Criteria applicable
to the Master Servicer, the Special Servicer, the Trustee and/or the Certificate Administrator.

 

“REMIC”:
A “real estate mortgage investment conduit” as defined in Section 860D of the Code (or any successor thereto).

 

“REMIC
Administrator”: The Certificate Administrator or any REMIC administrator appointed pursuant to Section 10.04.

 

“REMIC
Provisions”: Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear
at Sections 860A through 860G of subchapter M of chapter 1 of the Code, and related provisions, and temporary and
final Treasury Regulations (or proposed regulations that would apply by reason of their proposed effective date to the extent
not inconsistent with temporary or final regulations) and any rulings or announcements promulgated thereunder, as the foregoing
may be in effect from time to time.

 

“Remittance
Date”: The Business Day immediately preceding each Distribution Date.

 

“Rents
from Real Property”: With respect to any REO Property, gross income of the character described in Section 856(d)
of the Code.

 

“REO
Account”: A segregated custodial account or accounts created and maintained by the Special Servicer pursuant to Section
3.14(b) on behalf of the Trustee for the benefit of the Certificateholders and with respect to any Serviced Whole Loan, for
the benefit of the related Serviced Companion Noteholder, which shall initially be entitled “Midland Loan Services, a Division
of PNC Bank, National Association, as Special Servicer, on behalf of Wells Fargo Bank, National Association, as Trustee, for the
benefit of the registered holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
REO Account”. Any such account or accounts shall be an Eligible Account.

 

“REO
Acquisition”: The acquisition for federal income tax purposes of any REO Property pursuant to Section 3.09.

 

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“REO
Disposition”: The sale or other disposition of the REO Property pursuant to Section 3.16.

 

“REO
Extension”: As defined in Section 3.14(a).

 

“REO
Loan”: Each of the Mortgage Loans (and, with respect to any Serviced Whole Loan, the related Companion Loan, as applicable),
deemed for purposes hereof to be outstanding with respect to each REO Property. Each REO Loan shall be deemed to be outstanding
for so long as the applicable portion of the related REO Property (or beneficial interest therein, in the case of a Non-Serviced
Mortgage Loan) remains part of the Trust Fund and provides for Assumed Scheduled Payments on each Due Date therefor, and otherwise
has the same terms and conditions as its predecessor Mortgage Loan or Companion Loan, if applicable, including, without limitation,
with respect to the calculation of the Mortgage Rate in effect from time to time (such terms and conditions to be applied without
regard to the default on such predecessor Mortgage Loan or Companion Loan, if applicable). Each REO Loan shall be deemed to have
an initial outstanding principal balance and Stated Principal Balance equal to the outstanding principal balance and Stated Principal
Balance, respectively, of its predecessor Mortgage Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition.
All amounts due and owing in respect of the predecessor Mortgage Loan or Companion Loan, if applicable, as of the date of the
related REO Acquisition, including, without limitation, accrued and unpaid interest, shall continue to be due and owing in respect
of an REO Loan. All amounts payable or reimbursable to the Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer, the Certificate Administrator or the Trustee, as applicable, in respect of the predecessor Mortgage
Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition, including, without limitation, any unpaid
Special Servicing Fees and Servicing Fees, additional trust fund expenses and any unreimbursed Advances, together with any interest
accrued and payable to the Master Servicer or the Trustee, as applicable, in respect of such Advances in accordance with Section
3.03(d) or Section 4.03(d), shall continue to be payable or reimbursable to the Master Servicer, the Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator or the Trustee, as applicable, in respect
of an REO Loan. In addition, Unliquidated Advances and Nonrecoverable Advances with respect to such REO Loan, in each case, that
were paid from collections on the related Mortgage Loans and resulted in principal distributed to the Certificateholders being
reduced as a result of the first proviso in the definition of “Principal Distribution Amount” shall be deemed outstanding
until recovered. Notwithstanding anything to the contrary, with respect to each Serviced Whole Loan, no amounts relating to the
related REO Property or REO Loan allocable to the related Serviced Pari Passu Companion Loan, as applicable, will be available
for amounts due to the Certificateholders or to reimburse the Trust, other than in the limited circumstances related to Servicing
Advances, indemnification payments, Special Servicing Fees and other reimbursable expenses related to such Serviced Whole Loan
incurred with respect to such Serviced Whole Loan, in accordance with Section 3.05(a), or with respect to an AB Subordinate
Companion Loan, as set forth in the related Intercreditor Agreement.

 

“REO
Property”: A Mortgaged Property acquired by the Special Servicer on behalf of, and in the name of, the Trustee or a
nominee thereof for the benefit of the Certificateholders (and the related Companion Holder, subject to the related Intercreditor
Agreement, with respect to a Mortgaged Property securing a Serviced Whole Loan) to the extent set forth herein and the

 

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Trustee
(as holder of the Lower-Tier Regular Interests) (and also including, if applicable, the Trust’s beneficial interest
in a Non-Serviced Mortgaged Property acquired by the applicable Non-Serviced Special Servicer on behalf of, and in the
name of, the applicable Non-Serviced Trustee or a nominee thereof for the benefit of the certificateholders under the applicable
Non-Serviced Trust) through foreclosure, acceptance of a deed in lieu of foreclosure or otherwise in accordance with applicable
law in connection with the default or imminent default of a Mortgage Loan. References herein to the Special Servicer acquiring,
maintaining, managing, inspecting, insuring, selling or reporting or to Appraisal Reduction Amounts and Final Recovery Determinations
with respect to an “REO Property”, shall not include the Trust’s beneficial interest in a Non-Serviced Mortgaged
Property. For the avoidance of doubt, REO Property, to the extent allocable to a Companion Loan, shall not be an asset of the
Trust Fund or any Trust REMIC.

 

“REO
Revenues”: All income, rents and profits derived from the ownership, operation or leasing of any REO Property.

 

“Reportable
Event”: As defined in Section 11.07.

 

“Reporting
Requirements”: As defined in Section 11.12.

 

“Reporting
Servicer”: The Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor,
the Custodian or any Servicing Function Participant engaged by such parties, as the case may be.

 

“Repurchase
Request”: A Certificateholder Repurchase Request or a PSA Party Repurchase Request.

 

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

 

“Request
for Release”: A release signed by a Servicing Officer of the Master Servicer or the Special Servicer, as applicable,
in the form of Exhibit E attached hereto.

 

“Requesting
Certificateholder”: As defined in Section 2.03(l)(iii).

 

“Requesting
Holders”: As defined in Section 4.05(b).

 

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

 

“Resolution
Failure”: As defined in Section 2.03(k)(iii).

 

“Resolved”:
With respect to a Repurchase Request, (i) that the related Material Defect has been cured, (ii) the related Mortgage
Loan has been repurchased in accordance with the related Mortgage Loan Purchase Agreement, (iii) a mortgage loan has been
substituted for the related Mortgage Loan in accordance with the related Mortgage Loan Purchase Agreement, (iv) the applicable
Mortgage Loan Seller has made a Loss of Value Payment, (v) a contractually binding agreement has been entered into between
the Enforcing Servicer, on behalf of the Trust, and the related Mortgage Loan Seller that settles the related Mortgage Loan Seller’s
obligations under the related Mortgage Loan Purchase Agreement, or (vi) the related Mortgage Loan is no

 

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longer
property of the Trust as a result of a sale or other disposition in accordance with this Agreement.

 

“Responsible
Officer”: When used with respect to (i) the Trustee, any officer of the Corporate Trust Office of the Trustee with
direct responsibility for the administration of this Agreement and, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject and (ii) the
Certificate Administrator, any officer assigned to the Corporate Trust Services group with direct responsibility for the administration
of this Agreement and, with respect to a particular matter, any other officer to whom a particular matter is referred by the Certificate
Administrator because of such officer’s knowledge of and familiarity with the particular subject.

 

“Restricted
Period”: The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which Certificates
are first offered to Persons other than the Initial Purchasers or Underwriters and any other distributor (as such term is defined
in Regulation S) of the Certificates and (b) the Closing Date.

 

“Retained
Certificate Safekeeping Account”: One or more accounts maintained by the Certificate Administrator for purposes of holding
the Risk Retention Certificates, which account(s) shall be deemed to be owned by the Holder(s) of the Risk Retention Certificates.

 

“Retained
Defeasance Rights and Obligations”: As defined in Section 3.18(i).

 

“Retained
Fee Rate”: A rate equal to 0.00125% per annum with respect to each Mortgage Loan.

 

“Retaining
Party”: Any Holder of a Risk Retention Certificate, and any successor Holder of all or part of such Risk Retention Certificates.
The initial Retaining Party will be KKR Real Estate Credit Opportunity Partners (AIV) Aggregator I L.P.

 

“Retaining
Sponsor”: Barclays Capital Real Estate Inc., acting as retaining sponsor as such term is defined under Section 3(b)
of the Risk Retention Rules.

 

“Review
Materials”: As defined in Section 12.01(b)(i).

 

“Review
Package”: A Rating Agency Confirmation request and any supporting documentation delivered therewith.

 

“Rialto”:
Rialto Mortgage Finance, LLC, a Delaware limited liability company, or its successor in interest.

 

“Risk
Retention Affiliate” or “Risk Retention Affiliated”: Means “affiliate of” or “affiliated
with”, as such terms are defined in 12 C.F.R. 244.2 of the Risk Retention Rules.

 

“Risk
Retention Certificates”: The Horizontal Risk Retention Certificates.

 

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“Risk
Retention Requirements”: The credit risk retention requirements of Section 15G of the Exchange Act (15 U.S.C. §78o-11),
as added by Section 941 of the Dodd-Frank Act.

 

“Risk
Retention Rules”: The joint final rule that was promulgated to implement the Risk Retention Requirements (which such
joint final rule has been codified, inter alia, at 12 C.F.R. § 244), as such rule may be amended from time to time,
and subject to such clarification and interpretation as have been provided by the Office of the Comptroller of the Currency, the
Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency,
the Commission and the Department of Housing and Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.)
or by the staff of any such agency, or as may be provided by any such agency or its staff from time to time, in each case, as
effective, from time to time, as of the applicable compliance date specified therein. Any reference to a Section of the Risk
Retention Rules shall mean the subsection of the Risk Retention Rules identified with the same corresponding number as the referenced
“Section”. For example, “Section 7 of the Risk Retention Rules” means 12 C.F.R. § 244.7.

 

“Rule 144A”:
Rule 144A under the Act.

 

“Rule 144A
Book-Entry Certificate”: With respect to the Non-Registered Certificates offered and sold in reliance on Rule 144A,
a single, permanent Book-Entry Certificate, in definitive, fully registered form without interest coupons.

 

“Rules”:
As defined in Section 2.03(n)(iv).

 

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

 

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

 

“Sarbanes-Oxley
Certification”: As defined in Section 11.05(a)(iv).

 

“Schedule
AL Additional File”: A data file containing additional information or schedules regarding data points in the related
CREFC® Schedule AL File in accordance with Item 1111(h)(4) of Regulation AB and Item 601(b)(103) of Regulation
S-K under the Securities Act.

 

“Scheduled
Principal Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the principal
portions of the following: (a) all Periodic Payments (excluding Balloon Payments) due in respect of such Mortgage Loans during
or, if and to the extent not previously received or advanced pursuant to Section 4.03 in respect of a preceding Distribution
Date (and not previously distributed to Certificateholders), prior to, the related

 

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Collection
Period, and all Assumed Scheduled Payments with respect to the Mortgage Loans for the related Collection Period, in each case
to the extent either (i) paid by the Mortgagor as of the Determination Date (or, with respect to each Mortgage Loan with
a Due Date occurring or a Grace Period ending after the related Determination Date, the related Due Date or last day of such Grace
Period, as applicable, to the extent received by the Master Servicer as of the Business Day preceding the related P&I Advance
Date) or (ii) advanced by the Master Servicer or the Trustee, as applicable, pursuant to Section 4.03 in respect of
such Distribution Date, and (b) all Balloon Payments with respect to the Mortgage Loans to the extent received on or prior
to the related Determination Date (or, with respect to each Mortgage Loan with a Due Date occurring or a Grace Period ending after
the related Determination Date, the related Due Date or last day of such Grace Period, as applicable, to the extent received by
the Master Servicer as of the Business Day preceding the related P&I Advance Date), and to the extent not included in clause (a)
above.

 

“Secure
Data Room”: The “Secure Data Room” tab, which shall initially be located within the Certificate Administrator’s
Website (initially “www.ctslink.com”), on the page relating to this transaction.

 

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

 

“Security
Agreement”: With respect to any Mortgage Loan, any security agreement or equivalent instrument, whether contained in
the related Mortgage or executed separately, creating in favor of the holder of such Mortgage a security interest in the personal
property constituting security for repayment of such Mortgage Loan.

 

“Senior
Certificate”: Any Class A Certificate (other than the Class A-S Certificates) or Class X Certificate.

 

“Serviced
AB Mortgage Loan”: Any Mortgage Loan that is part of a Serviced AB Whole Loan. For the avoidance of doubt, the Vanguard
Portfolio Mortgage Loan is the only Serviced AB Mortgage Loan related to the Trust as of the Closing Date.

 

“Serviced
AB Whole Loan”: Any AB Whole Loan that is serviced under this Agreement. For the avoidance of doubt, the Vanguard Portfolio
Whole Loan is the only Serviced AB Whole Loan related to the Trust as of the Closing Date.

 

“Serviced
AB Whole Loan Controlling Holder”: With respect to a Serviced AB Whole Loan, the “Directing Lender” or similarly
defined party identified in the related AB Intercreditor Agreement. For the avoidance of doubt, TCM CRE REIT LLC is the Serviced
AB Whole Loan Controlling Holder related to the Vanguard Portfolio Whole Loan as of the Closing Date.

 

“Serviced
Companion Loan”: A Companion Loan that is part of a Serviced Whole Loan.

 

“Serviced
Companion Loan Additional Data Request”: As defined in Section 4.02(g) of this Agreement.

 

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“Serviced
Companion Loan EU Reporting Administrator”: As defined in Section 4.02(g) of this Agreement.

 

“Serviced
Companion Loan EU Reporting Indemnified Party”: As defined in Section 4.02(g) of this Agreement.

 

“Serviced
Companion Loan EU Reporting Liability”: As defined in Section 4.02(g) of this Agreement.

 

“Serviced
Companion Loan EU Reporting Obligations”: As defined in Section 4.02(g) of this Agreement.

 

“Serviced
Companion Loan EU Transparency Designee”: As defined in Section 4.02(g) of this Agreement.

 

“Serviced
Companion Loan Securities”: For so long as the related Mortgage Loan or any successor REO Loan is in the Trust Fund,
any class of securities backed, wholly or partially, by any Serviced Companion Loan.

 

“Serviced
Companion Noteholder”: Any holder of record of any Serviced Companion Loan.

 

“Serviced
Companion Noteholder Register”: The register maintained by the Companion Paying Agent pursuant to Section 3.28.

 

“Serviced
Mortgage Loan”: A Mortgage Loan that is part of a Serviced Whole Loan.

 

“Serviced
Pari Passu Companion Loan”: A Pari Passu Companion Loan that is part of a Serviced Whole Loan.

 

“Serviced
Pari Passu Companion Loan Holder”: Any holder of record of any Serviced Pari Passu Companion Loan.

 

“Serviced
Pari Passu Companion Loan Securities”: For so long as the related Mortgage Loan or any successor REO Loan is in the
Trust Fund, any class of securities issued by another securitization and backed by a Serviced Pari Passu Companion Loan.

 

“Serviced
Pari Passu Mortgage Loan”: Each Mortgage Loan that is part of a Serviced Pari Passu Whole Loan.

 

“Serviced
Pari Passu Whole Loan”: A Pari Passu Whole Loan that is a Serviced Whole Loan. The table under the heading “Whole
Loans” in the Preliminary Statement hereto identify the Serviced Pari Passu Whole Loans related to the Trust as of the Closing
Date.

 

“Serviced
REO Loan”: Any REO Loan that is serviced by the Special Servicer pursuant to this Agreement.

 

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“Serviced
REO Property”: Any REO Property that is serviced by the Special Servicer pursuant to this Agreement.

 

“Serviced
Securitized Companion Loan”: Any Companion Loan that is a component of a Serviced Whole Loan, if and for so long as
each such Companion Loan is included in a Regulation AB Companion Loan Securitization.

 

“Serviced
Subordinate Companion Loan”: Any AB Subordinate Companion Loan that is part of a Serviced AB Whole Loan. For the avoidance
of doubt, Note B of the Vanguard Portfolio Whole Loan is the only Serviced Subordinate Companion Loan related to the Trust.

 

“Serviced
Whole Loan”: A Whole Loan that is serviced and administered pursuant to this Agreement. As of the Closing Date, each
Whole Loan identified as a “Serviced” or “Servicing Shift” under the heading “Type” in the
Preliminary Statement hereto is a Serviced Whole Loan. After the related Servicing Shift Date, a Servicing Shift Whole Loan will
cease to be a Serviced Whole Loan.

 

“Serviced
Whole Loan Controlling Holder”: The “Controlling Noteholder” or similar term identified in the Intercreditor
Agreement related to a Serviced Whole Loan.

 

“Serviced
Whole Loan Remittance Date”: With respect to any Serviced Companion Loan: (i) the date specified as the applicable
remittance date (or equivalent concept) in the related Intercreditor Agreement; or (ii) if no such applicable remittance
date (or equivalent concept) is so specified in the related Intercreditor Agreement, then the earlier of (A) one (1) Business
Day after the Determination Date or (B) the fifteenth (15th) day of each calendar month (or, if the fifteenth (15th) calendar
day of that month is not a Business Day, then the Business Day immediately succeeding such fifteenth (15th) calendar day),
provided, however, that such Serviced Whole Loan Remittance Date under this clause (ii) shall not be earlier
than two (2) Business Days following the date the Master Servicer receives the related Periodic Payment with respect to such
Serviced Whole Loan.

 

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

 

“Servicing
Account”: The account or accounts created and maintained pursuant to Section 3.03(a).

 

“Servicing
Advances”: All customary, reasonable and necessary “out of pocket” costs and expenses (including attorneys’
fees and expenses and fees of real estate brokers) incurred by the Master Servicer, the Special Servicer, Certificate Administrator,
or the Trustee, as applicable, in connection with the servicing and administering of (a) a Mortgage Loan (and, in the case
of a Serviced Mortgage Loan, the related Serviced Companion Loan, as applicable), other than a Non-Serviced Mortgage Loan,
in respect of which a default, delinquency or other unanticipated event has occurred or as to which a default is reasonably foreseeable
or (b) a Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or an REO Property (other
than an REO Property related to a Non-Serviced Mortgage Loan), including, in the case of each of such clause (a) and
clause (b), but not limited to, (x) the cost of (i) compliance with the Master Servicer’s obligations set
forth in Section 3.03(c), (ii) the preservation, restoration and protection of a Mortgaged Property and the priority
of a Mortgage,

 

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(iii) obtaining
any Insurance and Condemnation Proceeds or any Liquidation Proceeds of the nature described in clauses (i) – (vi) of
the definition of “Liquidation Proceeds,” (iv) any enforcement or judicial proceedings with respect to a Mortgaged
Property, including foreclosures and (v) the operation, leasing, management, maintenance and liquidation of any REO Property
and (y) any amount specifically designated herein to be paid as a “Servicing Advance”. Notwithstanding
anything to the contrary, “Servicing Advances” shall not include allocable overhead of the Master Servicer or the
Special Servicer, such as costs for office space, office equipment, supplies and related expenses, employee salaries and related
expenses and similar internal costs and expenses or costs and expenses incurred by any such party in connection with its purchase
of a Mortgage Loan or REO Property. None of the Master Servicer, the Special Servicer or the Trustee shall make any Servicing
Advance in connection with the exercise of any cure rights or purchase rights granted to the holder of a Companion Loan under
the related Intercreditor Agreement or this Agreement.

 

“Servicing
Criteria”: The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from
time to time and which as of the Closing Date are listed on Exhibit AA hereto.

 

“Servicing
Fee”: With respect to each Mortgage Loan (including each Non-Serviced Mortgage Loan), Serviced Companion Loan, and
any REO Loan, the fee payable to the Master Servicer pursuant to the first paragraph of Section 3.11(a).

 

“Servicing
Fee Rate”: With respect to each Mortgage Loan (excluding any Non-Serviced Mortgage Loan) and REO Loan, a per annum
rate equal to the rate set forth on the Mortgage Loan Schedule under the heading “Servicing Fee Rate”, in each
case computed on the basis of the Stated Principal Balance of the related Mortgage Loan or REO Loan in the same manner in which
interest is calculated in respect of such loans. With respect to (A) each Serviced Companion Loan, a per annum rate equal
to 0.00125% (except for the SSTII Self Storage Portfolio II Companion Loans) and (B) each SSTII Self Storage Portfolio II Companion
Loan, a per annum rate equal to 0.01000%, in each case computed on the basis of the Stated Principal Balance of the related
Companion Loan or REO Loan in the same manner in which interest is calculated in respect of such loans. With respect to each Non-Serviced
Mortgage Loan, the "Servicing Fee Rate" shall be a per annum rate equal to 0.00125%.

 

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

 

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certificates
of hazard insurance and/or hazard insurance policies or other applicable insurance policies, if any, delivered in connection with
the closing of the related Mortgage Loan; (v) a copy of the Appraisal for the related Mortgaged Property(ies); (vi) the
documents that were delivered by or on behalf of the Mortgagor, which documents were required to be delivered in connection with
the closing of the related Mortgage Loan; (vii) for any Mortgage Loan that the related Mortgaged Property is leased to a
single tenant, a copy of the lease; and (viii) a copy of all environmental reports that were received by the applicable Mortgage
Loan Seller relating to the relevant Mortgaged Property and (b) copies of all modifications, extensions and amendments related
to the above, any Appraisals and any other document necessary to service the Mortgage Loans (other than any Non-Serviced Mortgage
Loan) and any Serviced Companion Loan, in each case, that are created or prepared after the Closing Date.

 

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

 

“Servicing
Officer”: Any officer and/or employee of the Master Servicer, the Special Servicer or any Additional Servicer involved
in, or responsible for, the administration and servicing of the Mortgage Loans or Serviced Companion Loans, whose name and specimen
signature appear on a list of servicing officers furnished by the Master Servicer, the Special Servicer or any Additional Servicer
to the Certificate Administrator, the Trustee, the Operating Advisor and the Depositor on the Closing Date as such list may be
amended from time to time thereafter.

 

“Servicing
Shift Control Note”: With respect to any Servicing Shift Whole Loan, as of any date of determination, the note or other
evidence of indebtedness and/or agreements evidencing the indebtedness of a Mortgagor under such Servicing Shift Whole Loan including
any amendments or modifications, or any renewal or substitution notes, as of such date, the sale of which to the related Non-Serviced
Trust will cause servicing to shift from this Agreement to the related Non-Serviced PSA pursuant to the terms of the related Intercreditor
Agreement for such Servicing Shift Whole Loan.

 

“Servicing
Shift Date”: With respect to any Servicing Shift Whole Loan, the date on which the related Servicing Shift Control Note
is included in a Non-Serviced Trust, provided that the holder of such Servicing Shift Control Note provides each of the
parties to this Agreement (in each case only to the extent such party will not also be a party to the related Non-Serviced PSA)
with notice in accordance with the terms of the related Intercreditor Agreement that such Servicing Shift Control Note is to be
included in such Non-Serviced Trust which notice shall include contact information for the related Non-Serviced Master Servicer,
Non-Serviced Special

 

    -102-

     

    

 

Servicer,
Non-Serviced Certificate Administrator and Non-Serviced Trustee. Each of the respective dates on which each of the Servicing Shift
Control Notes is included in a securitization trust is a Servicing Shift Date related to the Trust (subject to the proviso in
the immediately preceding sentence).

 

“Servicing
Shift Mortgage Loan”: A Mortgage Loan that is part of a Servicing Shift Whole Loan.

 

“Servicing
Shift Whole Loan”: Any Whole Loan serviced under this Agreement as of the Closing Date, which includes a Mortgage Loan
included in the Trust Fund and one or more Companion Loans not included in the Trust Fund, but the servicing of which is expected
to shift to the related Non-Serviced PSA entered into in connection with the securitization, if any, of the related Servicing
Shift Control Note on the related Servicing Shift Date. The table in the Preliminary Statement hereto identify the Servicing Shift
Whole Loans related to the Trust.

 

“Servicing
Standard”: As defined in Section 3.01(a).

 

“Servicing
Transfer Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or related Serviced
Companion Loan, the occurrence of any of the following events:

 

(i)               
the related Mortgagor has failed to make when due any Balloon Payment, and the Mortgagor has not delivered to the Master Servicer,
on or before the due date of such Balloon Payment, documentation (and the Master Servicer shall be required to promptly forward
such documentation to the Directing Certificateholder) reasonably satisfactory in form and substance to the Master Servicer which
provides that a refinancing of such Mortgage Loan or sale of the related Mortgaged Property will occur within 120 days after
the date on which such Balloon Payment will become due (provided that if either (x) such refinancing or sale does
not occur before the expiration of the time period for refinancing or sale specified in such documentation or (y) the Master
Servicer is required to make a P&I Advance in respect of such Mortgage Loan (or, in the case of any Serviced Whole Loan, in
respect of the Mortgage Loan included in the same Serviced Whole Loan) at any time prior to such a refinancing or sale, a Servicing
Transfer Event will occur immediately); or

 

(ii)              
the related Mortgagor has failed to make when due any Periodic Payment (other than a Balloon Payment) or any other payment (other
than a Balloon Payment) required under the related Mortgage Note or the related Mortgage, which failure has continued unremedied
for sixty (60) days; or

 

(iii)           
the Master Servicer determines (in accordance with the Servicing Standard) or receives from the Special Servicer a written determination
of the Special Servicer (which determination the Special Servicer shall make in accordance with the Servicing Standard and (A) with
the consent of the Directing Certificateholder (other than with respect to an Excluded Loan), unless a Control Termination Event
has occurred and is continuing or (B) if a Control Termination

 

    -103-

     

    

 

Event
has occurred and is continuing, following consultation with the Directing Certificateholder (other than with respect to an Excluded
Loan), unless a Consultation Termination Event has occurred and is continuing), that a default in making any Periodic Payment
(other than a Balloon Payment) or any other material payment (other than a Balloon Payment) required under the related Mortgage
Note or the related Mortgage is likely to occur in the foreseeable future, and such default is likely to remain unremedied for
at least sixty (60) days beyond the date on which the subject payment will become due; or the Master Servicer determines
(in accordance with the Servicing Standard) or receives from the Special Servicer a written determination of the Special Servicer
(which determination the Special Servicer shall make in accordance with the Servicing Standard and (A) with the consent of
the Directing Certificateholder (other than with respect to an Excluded Loan), unless a Control Termination Event has occurred
and is continuing or (B) if a Control Termination Event has occurred and is continuing, following consultation with the Directing
Certificateholder (other than with respect to an Excluded Loan), unless a Consultation Termination Event has occurred and is continuing),
that a default in making a Balloon Payment is likely to occur in the foreseeable future, and such default is likely to remain
unremedied for at least sixty (60) days beyond the date on which such Balloon Payment will become due (or, if the Mortgagor
has delivered, on or prior to the date of the Balloon Payment, documentation reasonably satisfactory in form and substance to
the Master Servicer or the Special Servicer (and the Master Servicer or the Special Servicer, as applicable, shall promptly forward
such documentation to the Directing Certificateholder) which provides that a refinancing of such Mortgage Loan or sale of the
related Mortgaged Property will occur within 120 days following the date on which such Balloon Payment will become due, the
Master Servicer determines (in accordance with the Servicing Standard) or receives from the Special Servicer a written determination
of the Special Servicer (which determination the Special Servicer shall make in accordance with the Servicing Standard and (A) with
the consent of the Directing Certificateholder (other than with respect to an Excluded Loan), unless a Control Termination Event
has occurred and is continuing or (B) if a Control Termination Event has occurred and is continuing, following consultation
with the Directing Certificateholder (other than with respect to an Excluded Loan), unless a Consultation Termination Event has
occurred and is continuing), that (A) the Mortgagor is likely not to make one or more Assumed Scheduled Payments prior to
such a refinancing or sale or (B) such refinancing or sale is not likely to occur within 120 days following the date
on which such Balloon Payment will become due); or

 

(iv)            
there shall have occurred a default (including, in the Master Servicer’s or the Special Servicer’s judgment, the failure
of the related Mortgagor to maintain any insurance required to be maintained pursuant to the related Mortgage Loan documents,
unless such default has been waived in accordance with Section 3.07 or 3.18) under the related Mortgage Loan documents,
other than as described in clause (i) or (ii) above, that may, in the good faith and reasonable judgment of the Master
Servicer or the Special Servicer (and, in the case of the Special Servicer (A) with the consent of the Directing Certificateholder
(other than

 

    -104-

     

    

 

with
respect to an Excluded Loan), unless a Control Termination Event has occurred and is continuing or (B) if a Control Termination
Event has occurred and is continuing, following consultation with the Directing Certificateholder (other than with respect to
an Excluded Loan), unless a Consultation Termination Event has occurred and is continuing), materially impair the value of the
related Mortgaged Property as security for such Mortgage Loan or Serviced Whole Loan or otherwise materially and adversely affect
the interests of Certificateholders (or, in the case of any Serviced Whole Loan, the interests of the related Serviced Companion
Noteholder(s)), which default has continued unremedied for the applicable cure period under the terms of such Mortgage Loan or
Serviced Whole Loan (or, if no cure period is specified, sixty (60) days); or

 

(v)             
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law or the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up
or liquidation of its affairs, shall have been entered against the related Mortgagor and such decree or order shall have remained
in force undischarged or unstayed for a period of sixty (60) days; or

 

(vi)           
the related Mortgagor shall have consented to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment
of debt, marshalling of assets and liabilities or similar proceedings of or relating to such Mortgagor or of or relating to all
or substantially all of its property; or

 

(vii)          
the related Mortgagor shall have admitted in writing its inability to pay its debts generally as they become due, filed a petition
to take advantage of any applicable insolvency or reorganization statute, made an assignment for the benefit of its creditors,
or voluntarily suspended payment of its obligations; or

 

(viii)       
the Master Servicer or the Special Servicer, as applicable, shall have received notice of the commencement of foreclosure or similar
proceedings with respect to the corresponding Mortgaged Property; or

 

(ix)           
the Master Servicer or the Special Servicer (and in the case of the Special Servicer, with the consent of the Directing Certificateholder
(other than with respect to an Excluded Loan), unless a Control Termination Event has occurred and is continuing) determines that
(i) a default (including, in the Master Servicer’s or the Special Servicer’s judgment, the failure of the related
Mortgagor to maintain any insurance required to be maintained pursuant to the related Mortgage Loan documents, unless such default
has been waived in accordance with Section 3.07 or Section 3.18) under the Mortgage Loan documents (other than as
described in clause (iii) above) is imminent or reasonably foreseeable, (ii) such default will materially impair the
value of the corresponding Mortgaged Property as security for the Mortgage Loan or Serviced Pari Passu Companion Loan (if any)
or otherwise materially and adversely affect the interests of Certificateholders (or

 

    -105-

     

    

 

the
related Serviced Pari Passu Companion Loan Holder) and (iii) the default is likely to continue unremedied for the applicable
cure period under the terms of the Mortgage Loan documents, or, if no cure period is specified and the default is capable of being
cured, for sixty (60) days;

 

provided
that any Mortgage Loan (excluding any Non-Serviced Mortgage Loan) that is cross-collateralized with a Specially Serviced
Loan shall be a Specially Serviced Loan so long as such Mortgage Loan is cross-collateralized with a Specially Serviced Loan.
If any Serviced Companion Loan becomes a Specially Serviced Loan, the related Serviced Mortgage Loan shall also become a Specially
Serviced Loan. If any Serviced Mortgage Loan becomes a Specially Serviced Loan, any related Serviced Companion Loan shall also
become a Specially Serviced Loan. With respect to a Non-Serviced Mortgage Loan, the occurrence of a “Servicing Transfer
Event” shall be as defined in the Non-Serviced PSA.

 

“Significant
Obligor”: As defined in Section 11.16.

 

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is fifteen (15) days after the Distribution Date occurring on or immediately following
the date on which financial statements for such calendar quarter are required to be delivered to the related lender under the
related Mortgage Loan documents.

 

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after the
end of such calendar year.

 

“Similar
Law”: As defined in Section 5.03(n).

 

“Sole
Certificateholder”: Any Certificate Owner, or Certificate Owners acting in unanimity, of a Book-Entry Certificate
or a Holder of a Definitive Certificate holding 100% of the then-outstanding Class E-RR, Class F-RR, Class G-RR, Class H-RR
and Class J-RR Certificates; provided, however, that the Certificate Balances of the Class A-1, Class A-2,
Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates have been retired.

 

“Special
Notice”: As defined in Section 5.06.

 

“Special
Servicer”: Midland Loan Services, a Division of PNC Bank, National Association, a national banking association, and
its successors in interest and assigns, or any successor special servicer appointed as provided herein (including with respect
to any Excluded Special Servicer Loan, if any, the related Excluded Special Servicer appointed pursuant to Section 7.01 (g)
of this Agreement, as applicable, and as the context may require).

 

“Special
Servicing Fee”: With respect to each Specially Serviced Loan and REO Loan (other than a Non-Serviced Mortgage Loan),
the fee payable to the Special Servicer pursuant to Section 3.11 (b).

 

“Special
Servicing Fee Rate”: With respect to each Specially Serviced Loan and each REO Loan (other than a Non-Serviced Mortgage
Loan) on a loan by loan basis, (a) 0.25000% per annum computed on the basis of the Stated Principal Balance of the
related Mortgage Loan

 

    -106-

     

    

 

(including
any REO Loan) and Companion Loan, as applicable, in the same manner as interest is calculated on such Specially Serviced Loan;
and (b) if the rate in clause (a) would result in a Special Servicing Fee that would be less than $3,500 in any given
month, then the Special Servicing Fee Rate for such month for such Specially Serviced Loan or REO Loan shall be a rate equal to
such higher rate as would result in a Special Servicing Fee equal to $3,500, for such month with respect to such Specially Serviced
Loan or REO Loan.

 

“Specially
Serviced Loan”: As defined in Section 3.01(a).

 

“Sponsors”:
The Mortgage Loan Sellers.

 

“Startup
Day”: The day designated as such in Section 10.01(b).

 

“Stated
Principal Balance”: With respect to any Mortgage Loan, as of any date of determination, an amount equal to (x) the
Cut-off Date Balance of such Mortgage Loan (or in the case of a Qualified Substitute Mortgage Loan, as of the date it is added
to the Trust, the unpaid principal balance of such Mortgage Loan after application of all scheduled payments of principal and
interest due during or prior to the month of substitution, whether or not received) minus (y) the sum of:

 

(i)        the principal portion of each Periodic Payment due on such Mortgage Loan after the Cut-off Date (or in the case of a Qualified
Substitute Mortgage Loan, due after the Due Date in the related month of substitution), to the extent received from the Mortgagor
or advanced by the Master Servicer;

 

(ii)       all Principal Prepayments received with respect to such Mortgage Loan after the Cut-off Date (or in the case of a Qualified
Substitute Mortgage Loan, after the Due Date in the related month of substitution);

 

(iii)      the principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on such Mortgage Loan)
and Liquidation Proceeds received with respect to such Mortgage Loan after the Cut-off Date (or in the case of a Qualified
Substitute Mortgage Loan, after the Due Date in the related month of substitution); and

 

(iv)      any reduction in the outstanding principal balance of such Mortgage Loan resulting from a Deficient Valuation or a modification
of such Mortgage Loan pursuant to the terms and provisions of this Agreement that occurred prior to the end of the Collection
Period for the most recent Distribution Date.

 

With
respect to any REO Loan that is a successor to a Mortgage Loan, as of any date of determination, the Stated Principal Balance
shall be an amount equal to (x) the Stated Principal Balance of the predecessor Mortgage Loan as of the date of the related
REO Acquisition, minus (y) the sum of:

 

(i)        the principal portion of any P&I Advance made with respect to such REO Loan; and

 

    -107-

     

    

 

(ii)              
the principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on the related Mortgage
Loan), Liquidation Proceeds and REO Revenues received with respect to such REO Loan.

 

A
Mortgage Loan or an REO Loan that is a successor to a Mortgage Loan shall be deemed to be part of the Trust Fund and to have an
outstanding Stated Principal Balance until the Distribution Date on which the payments or other proceeds, if any, received in
connection with a Liquidation Event in respect thereof are to be (or, if no such payments or other proceeds are received in connection
with such Liquidation Event, would have been) distributed to Certificateholders.

 

With
respect to each Companion Loan on any date of determination, the Stated Principal Balance shall equal the unpaid principal balance
of such Companion Loan as of such date. On any date of determination, the Stated Principal Balance of each Whole Loan shall equal
the sum of the Stated Principal Balances of the related Mortgage Loan and the related Companion Loan(s), as applicable, on such
date.

 

With
respect to any REO Loan that is a successor to a Companion Loan as of any date of determination, the Stated Principal Balance
shall equal (x) the Stated Principal Balance of the predecessor Companion Loan as of the date of the related REO Acquisition,
minus (y) the principal portion of any amounts allocable to the related Companion Loan in accordance with the related
Intercreditor Agreement.

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of the Master
Servicer, the Special Servicer, the Operating Advisor, an Additional Servicer or a Sub-Servicer.

 

“Subject
Loans”: As defined in Section 12.02(b).

 

“Subordinate
Certificate”: Any Class A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G-RR, Class H-RR and Class
J-RR Certificate.

 

“Subordinate
Companion Holder”: The holder of any AB Subordinate Companion Loan.

 

“Subsequent
Asset Status Report”: As defined in Section 3.19(d).

 

“Sub-Servicer”:
Any Person that services Mortgage Loans on behalf of the Master Servicer, the Special Servicer or an Additional Servicer and is
responsible for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of
the material servicing functions required to be performed by the Master Servicer, the Special Servicer or an Additional Servicer
under this Agreement, with respect to some or all of the Mortgage Loans that are identified in Item 1122(d) of Regulation
AB.

 

    -108-

     

    

 

“Sub-Servicing
Agreement”: The written contract between the Master Servicer or the Special Servicer, as the case may be, and any Sub-Servicer
relating to servicing and administration of Mortgage Loans as provided in Section 3.20.

 

“Substitution
Shortfall Amount”: With respect to a substitution pursuant to Section 2.03(b), an amount equal to the excess,
if any, of the Purchase Price of the Mortgage Loan being replaced calculated as of the date of substitution over the Stated Principal
Balance of the related Qualified Substitute Mortgage Loan after application of all scheduled payments of principal and interest
due during or prior to the month of substitution. In the event that one or more Qualified Substitute Mortgage Loans are substituted
(at the same time by the same Mortgage Loan Seller) for one or more removed Mortgage Loans, the Substitution Shortfall Amount
shall be determined as provided in the preceding sentence on the basis of the aggregate Purchase Prices of the Mortgage Loan(s)
being replaced and the aggregate Stated Principal Balances of the related Qualified Substitute Mortgage Loan(s).

 

“Surviving
Entity”: As defined in Section 6.03(b).

 

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

 

“Temporary
Regulation S Book-Entry Certificate”: As defined in Section 5.02(a).

 

“Termination
Purchase Amount”: The sum of (1) the aggregate Purchase Price of all the Mortgage Loans (exclusive of REO Loans)
included in the Trust Fund, (2) the Appraised Value of the Trust’s portion of each REO Property, if any, included in
the Trust Fund (such Appraisals in this clause (2) to be conducted by an Independent MAI-designated appraiser selected by
the Special Servicer and approved by the Master Servicer and the Controlling Class) (prior to the occurrence and continuance of
a Control Termination Event, with respect to the Controlling Class approval), and (3) if a Mortgaged Property secures a Non-Serviced
Mortgage Loan and is an “REO property” under the terms of the related Non-Serviced PSA, the pro rata portion
of the fair market value of the related Mortgaged Property, as determined by the related Non-Serviced Master Servicer in accordance
with clause (2) above.

 

“Test”:
As defined in Section 12.01(b)(iv).

 

“Third
Party Purchaser”: Any “third-party purchaser” (as defined under the Risk Retention Rules) that purchases
and holds the Horizontal Risk Retention Certificates.

 

“Transfer”:
Any direct or indirect transfer, sale, pledge, hypothecation, or other form of assignment of any Ownership Interest in a Certificate.

 

    -109-

     

    

 

“Transfer
Restriction Period”: The period from the Closing Date to the earlier of: (a) the latest of (i) the date on
which the aggregate unpaid principal balance of all outstanding Mortgage Loans has been reduced to 33.0% of the aggregate Cut-off
Date Balance of the Mortgage Loans; (ii) the date on which the aggregate outstanding principal balance of the Principal Balance
Certificates has been reduced to 33.0% of the aggregate outstanding principal balance of the Principal Balance Certificates as
of the Closing Date; and (iii) two years after the Closing Date; (b) the date on which all of the Mortgage Loans have
been defeased in accordance with §244.7(b)(8)(i) of the Risk Retention Rules; and (c) the date on which the Risk Retention
Rules have been effectively abolished or officially determined by the OCC, the Board of Governors of the Federal Reserve System,
the FDIC, the Federal Housing Finance Agency, the Commission and the Department of Housing and Urban Development to be no longer
applicable to the Trust.

 

“Transferable
Servicing Interest”: With respect to each Mortgage Loan or Serviced Pari Passu Companion Loan (and any successor REO
Loan with respect thereto), the amount by which the related Servicing Fee otherwise payable to the Master Servicer hereunder exceeds
the sum of (i) the fee payable to the Master Servicer as the portion of the Servicing Fee attributable to primary servicing
and (ii) the amount of the Servicing Fee calculated using the Retained Fee Rate, which Transferable Servicing Interest is
subject to reduction by the Trustee pursuant to Section 3.11(a) of this Agreement.

 

“Transferee”:
Any Person who is acquiring by Transfer any Ownership Interest in a Certificate.

 

“Transferee
Affidavit”: As defined in Section 5.03(p)(ii).

 

“Transferor”:
Any Person who is disposing by Transfer any Ownership Interest in a Certificate.

 

“Transferor
Letter”: As defined in Section 5.03(p)(ii).

 

“Trust”:
The trust created hereby and to be administered hereunder. The Trust shall be named “BBCMS Mortgage Trust 2019-C3”.

 

“Trust
Fund”: The corpus of the Trust created hereby and to be administered hereunder, consisting of: (i) such Mortgage
Loans as from time to time are subject to this Agreement (including any Qualified Substitute Mortgage Loan replacing a removed
Mortgage Loan), together with the Mortgage Files relating thereto (subject to, in the case of a Serviced Whole Loan, the interests
of the related Serviced Companion Noteholder in the related Mortgage File); (ii) all scheduled or unscheduled payments on
or collections in respect of the Mortgage Loans due after the Cut-off Date (or with respect to a Qualified Substitute Mortgage
Loan, the Due Date in the month of substitution); (iii) any REO Property (to the extent of the Trust’s interest therein)
or the Trust’s beneficial interest in the Mortgaged Property securing a Non-Serviced Whole Loan acquired under the related
Non-Serviced PSA; (iv) all revenues received in respect of any REO Property (to the extent of the Trust’s interest
therein); (v) the Master Servicer’s, the Special Servicer’s, the Certificate Administrator’s and the Trustee’s
rights under the insurance policies with respect to the Mortgage Loans required to be maintained pursuant to this Agreement and
any proceeds thereof (to the extent of the Trust’s interest therein); (vi) any Assignment of Leases and

 

    -110-

     

    

 

any
security agreements (to the extent of the Trust’s interest therein); (vii) any letters of credit, indemnities, guaranties
or lease enhancement policies given as additional security for any related Mortgage Loans (to the extent of the Trust’s
interest therein); (viii) all assets deposited in the Loss of Value Reserve Fund and the Servicing Accounts (to the extent
of the Trust’s interest therein), amounts on deposit in the Collection Account (to the extent of the Trust’s interest
therein), the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Interest Reserve Account,
the Gain-on-Sale Reserve Account (to the extent of the Trust’s interest in such Gain-on-Sale Reserve Account),
and any REO Account (to the extent of the Trust’s interest in such REO Account), including any reinvestment income, as applicable;
(ix) any Environmental Indemnity Agreements (to the extent of the Trust’s interest therein); (x) the rights and
remedies of the Depositor under each Mortgage Loan Purchase Agreement (to the extent transferred to the Trustee); (xi) the
Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any interest earned on deposits in
the lock-box accounts, cash collateral accounts, escrow accounts and any reserve accounts, to the extent such interest belongs
to the related Mortgagor). For the avoidance of doubt, no Retained Defeasance Rights and Obligations will be assets of the Trust.

 

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

 

“Trustee”:
Wells Fargo Bank, National Association, or its successor in interest, in its capacity as trustee and its successors in interest,
or any successor trustee appointed as herein provided.

 

“Trustee
Fee”: The fee to be paid to the Trustee as compensation for the Trustee’s activities under this Agreement, which
fee is included as part of the Certificate Administrator Fee. No portion of the Trustee Fee shall be calculated by reference to
any Companion Loan or the Stated Principal Balance of any Companion Loan.

 

“UBS”:
UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, or its successor in interest.

 

“UCC”:
The Uniform Commercial Code, as enacted in each applicable state.

 

“UCC
Financing Statement”: A financing statement prepared and filed pursuant to the UCC, as in effect in the relevant jurisdiction.

 

“Underwriters”:
Barclays Capital Inc., UBS Securities LLC, SG Americas Securities, LLC, Natixis Securities Americas LLC, KeyBanc Capital Markets
Inc. and Drexel Hamilton, LLC.

 

“Undeveloped
Certificate Administrator Information/Data”: With respect to the Certificate Administrator, information or data (other
than attorney-client privileged information) that, at the time of any request for information or data, (a) is in the possession
of the Certificate Administrator and (b) has been provided to the Certificate Administrator by another Person, with (i) (x) no
obligation to conduct or perform any Activity or Activities, (y) no obligation to request, direct or instruct any other Person
(and no obligation on the part of any other Person) to conduct or perform any Activity or Activities and (z) no obligation to
verify any Activity or Activities performed by any other Person, and (ii) if for any reason such information or data itself consists
in whole or in part of the results of any Activity or Activities on the part of another Person (it being

 

    -111-

     

    

 

acknowledged
that this shall not be construed to require any Person to perform any Activity or Activities to determine whether the information
or data includes the results of any Activity or Activities on the part of another Person), (x) no obligation to conduct or perform
any further or additional any Activity or Activities, (y) no obligation to request, direct or instruct any other Person to conduct
or perform any further or additional any Activity or Activities and (z) no obligation to verify any Activity or Activities performed
by any other Person.

 

“Undeveloped
Servicer Information/Data”: With respect to the Master Servicer, an Initial Sub-Servicer or the Special Servicer, as
the case may be, information and data (other than attorney-client privileged information and other than information relating to
a workout or resolution strategy or plan for a Specially Serviced Loan) that, at the time of any request for information or data,
(a) relates to one or more Serviced Whole Loans or the related Mortgaged Properties, (b) is in the possession of such Master Servicer,
Initial Sub-Servicer or Special Servicer, as the case may be, and (c) has been provided to such Master Servicer, Initial Sub-Servicer
or Special Servicer, as the case may be, by or on behalf of a Borrower, Property Manager or lender. With respect to such Undeveloped
Servicer Information/Data, there shall be (i) no obligation on the part of such Master Servicer, Initial Sub-Servicer or Special
Servicer, as the case may be, to (x) conduct or perform any Activity or Activities, (y) request, direct or instruct any other
Person (and no obligation on the part of any other Person) to conduct or perform any Activity or Activities or (z) verify any
Activity or Activities performed by any other Person, and (ii) if for any reason such information or data itself consists in whole
or in part of the results of any Activity or Activities on the part of another Person (it being acknowledged that this shall not
be construed to require any Person to perform any Activity or Activities to determine whether the information or data includes
the results of any Activity or Activities on the part of another Person), no obligation on the part of such Master Servicer, Initial
Sub-Servicer or Special Servicer, as the case may be, to (x) conduct or perform any further or additional any Activity or Activities,
(y) request, direct or instruct any other Person to conduct or perform any further or additional any Activity or Activities or
(z) verify any Activity or Activities performed by any other Person.

 

“Uninsured
Cause”: Any cause of damage to property subject to a Mortgage such that the complete restoration of such property is
not fully reimbursable by the hazard insurance policies or flood insurance policies required to be maintained pursuant to Section
3.07.

 

“United
States Securities Person”: Any “U.S. person” as defined in Rule 902(k) of Regulation S.

 

“Unliquidated
Advance”: Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that
made the Advance hereunder, on the one hand, and the Trust, on the other, as part of a Workout-Delayed Reimbursement Amount
pursuant to subsections (iii) and (iv) of Section 3.05(a) but that has not been recovered from the Mortgagor
or otherwise from collections on or the proceeds of the related Mortgage Loan or REO Property in respect of which the Advance
was made.

 

“Unscheduled
Principal Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the following:
(a) all Principal Prepayments received on such Mortgage Loan on or prior to the Determination Date and (b) the principal
portions of all Liquidation Proceeds, Insurance and Condemnation Proceeds (net of Special

 

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Servicing
Fees, Liquidation Fees, accrued interest on Advances and other additional expenses of the Trust incurred in connection with the
related Mortgage Loan) and, if applicable, REO Revenues received with respect to such Mortgage Loan and any REO Loans on or prior
to the related Determination Date, but in each case only to the extent that such principal portion represents a recovery of principal
for which no advance was previously made pursuant to Section 4.03 in respect of a preceding Distribution Date.

 

“Unsolicited
Information”: As defined in Section 12.01(b)(iii).

 

“Upper-Tier
REMIC”: One of the REMICs comprising the Trust, the assets of which consist of the Lower-Tier Regular Interests
and such amounts as shall from time to time be held in the Upper-Tier REMIC Distribution Account.

 

“Upper-Tier
REMIC Distribution Account”: The segregated account or accounts (or a subaccount of the Distribution Account) created
and maintained by the Certificate Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for the
Certificateholders, which shall initially be entitled “Wells Fargo Bank, National Association, as Certificate Administrator,
on behalf of Wells Fargo Bank, National Association, as Trustee, for the benefit of the registered holders of BBCMS Mortgage Trust
2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, Upper-Tier REMIC Distribution Account”.
Any such account or accounts shall be an Eligible Account.

 

“U.S.
Dollars” or “$”: Lawful money of the United States of America.

 

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

 

“Voting
Rights”: The portion of the voting rights of all of the Certificates which is allocated to any Certificate. At all times
during the term of this Agreement, the Voting Rights shall be allocated among the various Classes of Certificateholders as follows:
(i) 2% in the case of the Class X Certificates (allocated pro rata, based upon their respective Notional Amounts as
of the date of determination) and (ii) in the case of the Principal Balance Certificates, a percentage equal to the product
of 98% and a fraction, the numerator of which is equal to the Certificate Balance (and solely in connection with any vote for
purposes of determining whether to remove the Special Servicer pursuant to Section 7.01(d) or the Operating Advisor pursuant
to Section 3.26(j), taking into account any notional reduction in the Certificate Balance for Cumulative Appraisal Reduction
Amounts allocated to the Certificates pursuant to Section 4.05(a)) of such Class, in each case, determined as of the Distribution
Date immediately preceding such time, and the denominator of which is equal to the aggregate Certificate Balance (and solely in
connection with any vote for purposes of determining whether to remove the Special Servicer pursuant to

 

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Section
7.01(d) or the Operating Advisor pursuant to Section 3.26(j), taking into account any notional reduction in the Certificate
Balance for Cumulative Appraisal Reduction Amounts allocated to the Certificates pursuant to Section 4.05(a)) of the Principal
Balance Certificates, determined as of the Distribution Date immediately preceding such time. The Voting Rights of any Class of
Certificates shall be allocated among Certificateholders of such Class in proportion to their respective Percentage Interests.
The Class R Certificates will not be entitled to any Voting Rights.

 

“Weighted
Average Net Mortgage Rate”: With respect to any Distribution Date, the weighted average of the applicable Net Mortgage
Rates of the Mortgage Loans (including any Non-Serviced Mortgage Loans) as of the first day of the related Collection Period,
weighted on the basis of their respective Stated Principal Balances as of the first day of such Collection Period (after giving
effect to any payments received during any applicable Grace Period).

 

“Whole
Loan”: A mortgage loan that includes a Mortgage Loan and one or more Companion Loans, all of which are secured by the
same Mortgaged Property. The table under the heading “Whole Loans” in the Preliminary Statement hereto identify the
Whole Loans related to the Trust. With respect to each Whole Loan, references herein to each such Whole Loan shall be construed
to refer to the aggregate indebtedness under the related Mortgage Loan and the related Companion Loan(s).

 

“Withheld
Amounts”: As defined in Section 3.21(a).

 

“Workout-Delayed
Reimbursement Amounts”: With respect to any Mortgage Loan, the amount of any Advances made with respect to such Mortgage
Loan on or before the date such Mortgage Loan becomes (or, but for the making of three Periodic Payments under its modified terms,
would then constitute) a Corrected Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent
that (i) such Advance (and accrued and unpaid interest thereon) is not reimbursed to the Person who made such Advance on
or before the date, if any, on which Mortgage Loan becomes a Corrected Loan and (ii) the amount of such Advance (and accrued
and unpaid interest thereon) becomes an obligation of the related Mortgagor to pay such amount under the terms of the modified
loan documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any
manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable
Advance.

 

“Workout
Fee”: The fee paid to the Special Servicer with respect to each Corrected Loan in accordance with Section 3.11(c).

 

“Workout
Fee Rate”: With respect to each Corrected Loan and in accordance with Section 3.11(c), a fee equal to the lesser
of (i) 1.00% of each collection (other than Penalty Charges) of interest and principal (other than any amount for which a
Liquidation Fee would be paid), including (a) Periodic Payments, (b) Balloon Payments, (c) Principal Prepayments
and (d) payments (other than those included in clause (a) or (b) of this definition) at maturity received on each Corrected
Loan for so long as it remains a Corrected Loan and (ii) such rate that would result in $1,000,000 in the aggregate with
respect to any particular Corrected Loan.

 

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“XML”:
Extensible Markup Language.

 

“Yield
Maintenance Charge”: With respect to any Mortgage Loan, any premium, fee or other additional amount paid or payable,
as the context requires, by a borrower in connection with a principal prepayment on, or other early collection of principal of,
a Mortgage Loan, calculated, in whole or in part, pursuant to a yield maintenance formula or otherwise pursuant to a formula that
reflects the lost interest, including any specified amount or specified percentage of the amount prepaid which constitutes the
minimum amount that such Yield Maintenance Charge may be.

 

Section
1.02        Certain Calculations. Unless otherwise specified herein, for purposes of
determining amounts with respect to the Certificates and the rights and obligations of the parties hereto, the following provisions
shall apply:

 

(i)                
All calculations of interest (other than as provided in the related Mortgage Loan documents) provided for herein shall be made
on the basis of a 360-day year consisting of twelve 30-day months.

 

(ii)               
Any Mortgage Loan or Companion Loan payment is deemed to be received on the date such payment is actually received by the Master
Servicer or the Special Servicer; provided, however, that for purposes of calculating distributions on the Certificates,
Principal Prepayments with respect to any Mortgage Loan are deemed to be received on the date they are applied in accordance with
the Servicing Standard consistent with the terms of the related Mortgage Note and Mortgage to reduce the outstanding principal
balance of such Mortgage Loan, on which interest accrues.

 

(iii)             
Any reference to the Certificate Balance of any Class of Principal Balance Certificates on or as of a Distribution Date shall
refer to the Certificate Balance of such Class of Principal Balance Certificates on such Distribution Date after giving effect
to (a) any distributions made on the immediately preceding Distribution Date pursuant to Section 4.01(a), and Section
4.01(c) (b) any Realized Losses allocated to such Class of Principal Balance Certificates on the immediately preceding
Distribution Date pursuant to Section 4.04, and (c) any recoveries on the related Mortgage Loans of Nonrecoverable
Advances (plus interest thereon) that were previously reimbursed from principal collections on the related Mortgage Loans,
that resulted in a reduction of the Principal Distribution Amount, which recoveries are allocated to such Class of Principal Balance
Certificates on the immediately preceding Distribution Date and added to the Certificate Balance pursuant to Section 4.04(a).

 

(iv)            
Unless otherwise specifically provided for herein, all net present value calculations and determinations made with respect to
a Mortgage Loan, Serviced Companion Loan, Mortgaged Property or REO Property (including for purposes of the definition of “Servicing
Standard”) shall be made, in the event the Mortgage Loan documents are silent, using a discount rate (a) for principal
and interest payments on a Mortgage Loan, Serviced Companion Loan, as applicable, or sale by the Special Servicer of a Defaulted
Loan, the highest of (x) the rate determined by the Master Servicer or the Special Servicer, as applicable, that approximates
the market rate that would be obtainable

 

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by
the related Mortgagor on similar non-defaulted debt of such Mortgagor as of such date of determination, (y) the Mortgage
Rate on the applicable Mortgage Loan or Serviced Companion Loan based on its outstanding principal balance and (z) the yield
on 10-year U.S. treasuries as of such date of determination, and (b) for all other cash flows, including property
cash flow, the “discount rate” set forth in the most recent Appraisal (or update of such Appraisal) of the related
Mortgaged Property.

 

(v)               
Any reference to “expense of the trust” or “additional trust fund expense” or words of similar import
shall be construed to mean, for any Serviced Mortgage Loan, an expense that shall be applied in accordance with the related Intercreditor
Agreement or, if no application is specified in the related Intercreditor Agreement, then, to the extent such Intercreditor Agreement
refers to this Agreement for the application of trust fund expenses or such Intercreditor Agreement does not prohibit the following
application of trust fund expenses (i) with respect to any Serviced Whole Loan, first, to any related AB Subordinate
Companion Loan and then, pro rata and pari passu, to the Trust and any related Serviced Pari Passu Companion
Loans in accordance with the respective Stated Principal Balances of the related Serviced Pari Passu Mortgage Loan and Serviced
Pari Passu Companion Loans.

 

[End
of Article I]

 

ARTICLE
II

CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

 

Section
2.01        Conveyance of Mortgage Loans. (a) The Depositor, concurrently with the execution
and delivery hereof, does hereby establish a trust, appoint the Trustee as trustee of the trust, assign, sell, transfer and convey
to the Trustee, in trust, without recourse, for the benefit of the Certificateholders and the Trustee (as holder of the Lower-Tier
Regular Interests) all the right, title and interest of the Depositor, whether now owned or existing or hereafter acquired or
arising, including any security interest therein for the benefit of the Depositor, in, to and under (i) the Mortgage Loans
identified on the Mortgage Loan Schedule, (ii) Sections 2, 3, 4 (other than Section 4(c), (d), (e) and (g)) and
5 (other than Section 5(f), (g), (h) and (i)) and, to the extent related to the foregoing, Sections 9, 10, 11, 12, 13,
14, 15, 17 and 18 of each of the Mortgage Loan Purchase Agreements, Section 19 of the Mortgage Loan Purchase Agreement between
the Depositor, Barclays and BCHI; (iii) the Intercreditor Agreements; (iv) all scheduled or unscheduled payments on
or collections in respect of the Mortgage Loans due after the Cut-off Date (or with respect to a Qualified Substitute Mortgage
Loan, the Due Date in the month of substitution); (v) any REO Property (to the extent of the Depositor’s interest therein)
or the Depositor’s beneficial interest in the Mortgaged Property securing a Non-Serviced Whole Loan acquired under the
related Non-Serviced PSA; (vi) all revenues received in respect of any REO Property (to the extent of the Depositor’s
interest therein); (vii) the Master Servicer’s, the Special Servicer’s, the Certificate Administrator’s
and the Trustee’s rights under the insurance policies with respect to the Mortgage Loans required to be maintained pursuant
to this Agreement and any proceeds thereof (to the extent of the Depositor’s interest therein); (viii) any Assignment
of Leases and any security agreements (to the extent of the Depositor’s interest therein); (ix) any letters of

 

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credit,
indemnities, guaranties or lease enhancement policies given as additional security for any related Mortgage Loans (to the extent
of the Depositor’s interest therein); (x) all assets deposited in the Loss of Value Reserve Fund and the Servicing
Accounts (to the extent of the Depositor’s interest therein), amounts on deposit in the Collection Account (to the extent
of the Depositor’s interest therein), the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution
Account, the Interest Reserve Account, the Gain-on-Sale Reserve Account (to the extent of the Depositor’s interest
in such Gain-on-Sale Reserve Account) and any REO Account (to the extent of the Depositor’s interest in such REO
Account), including any reinvestment income, as applicable; (xi) any Environmental Indemnity Agreements (to the extent of
the Depositor’s interest therein); (xii) the Lower-Tier Regular Interests; and (xiii) the proceeds of the
foregoing (other than any interest earned on deposits in the lock-box accounts, cash collateral accounts, escrow accounts
and any reserve accounts, to the extent such interest belongs to the related Mortgagor and any Retained Defeasance Rights and
Obligations with respect to the Mortgage Loans) (collectively, the “Conveyed Property”). Such assignment includes
all interest and principal received or receivable on or with respect to the Mortgage Loans (in each case, other than (i) payments
of principal and interest due and payable on the Mortgage Loans on or before the Cut-off Date; (ii) prepayments of principal
collected on or before the Cut-off Date; (iii) with respect to those Mortgage Loans that were closed in June 2019 but
have their first Due Date in July 2019, any interest amounts relating to the period prior to the Cut-off Date; and (iv) any
Retained Defeasance Rights and Obligations with respect to the Mortgage Loans for which KeyBank, UBS, NREC or Rialto is the related
Mortgage Loan Seller). The transfer of the Mortgage Loans and the related rights and property accomplished hereby is absolute
and, notwithstanding Section 13.07, is intended by the parties to constitute a sale. In connection with the assignment
to the Trustee of Sections 2, 3, 4 (other than Section 4(c), (d), (e) and (g)) and 5 (other than Section 5(f),
(g), (h) and (i)) and, to the extent related to the foregoing, Sections 9, 10, 11, 12, 13, 14, 15, 17 and 18 of each of the
Mortgage Loan Purchase Agreements, Section 19 of the Mortgage Loan Purchase Agreement between the Depositor, Barclays and
BCHI, it is intended that the Trustee get the benefit of Sections 10, 13 and 15 thereof in connection with any exercise of
rights under the assigned Sections, and the Depositor shall use its best efforts to make available to the Trustee the benefits
of Sections 10, 13 and 15 in connection therewith.

 

(b)              
In connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall direct, and
hereby represents and warrants that it has directed, the Mortgage Loan Sellers pursuant to the applicable Mortgage Loan
Purchase Agreement to deliver and deposit with, or cause to be delivered to and deposited with, the Custodian, (A) on or
before the Closing Date, the Mortgage Note relating to each Mortgage Loan so assigned, endorsed to the Trustee or in blank as
specified in clause (i) of the definition of “Mortgage File” (or, alternatively, if the original executed
Mortgage Note has been lost, a lost note affidavit and indemnity with a copy of such Mortgage Note as specified in
clause (i) of the definition of “Mortgage File”) and (B) on or before the date that is 45 days
following the Closing Date, the remainder of the Mortgage File for each Mortgage Loan and, except in the case of a Mortgage
Loan that is a Non-Serviced Whole Loan as of the Closing Date, any other items required to be delivered or deposited by
the Mortgage Loan Seller pursuant to this Agreement (other than amounts from reserve accounts and originals of letters of
credit, which shall be transferred to the Master Servicer) for each Mortgage Loan. If the applicable Mortgage Loan Seller
cannot deliver, or cause to be delivered, as to any Mortgage Loan, the original Mortgage Note, the delivery requirements of
the applicable Mortgage Loan Purchase Agreement and this Section 2.01(b) shall be deemed to have been satisfied
upon

 

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such
Mortgage Loan Seller’s delivery of a copy or duplicate original of such Mortgage Note, together with an affidavit certifying
that the original thereof has been lost or destroyed and indemnifying the Trustee and the Trust. If the applicable Mortgage Loan
Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan, any of the documents and/or instruments referred to
in clauses (ii), (iv), (vii) and (ix) of the definition of “Mortgage File” (or, if applicable, a copy thereof)
with evidence of filing or recording thereon (if intended to be recorded or filed), solely because of a delay caused by the public
filing or recording office where such document or instrument has been delivered, or will be delivered within 10 Business Days
of the Closing Date, for filing or recordation, the delivery requirements of the applicable Mortgage Loan Purchase Agreement and
this Section 2.01(b) shall be deemed to have been satisfied on a provisional basis as of the Closing Date as to such non-delivered
document or instrument, and such non-delivered document or instrument shall be deemed to have been included in the Mortgage
File, if a duplicate original or a photocopy of such non-delivered document or instrument (certified by the applicable public
filing or recording office, the applicable title insurance company or the applicable Mortgage Loan Seller to be a true and complete
copy of the original thereof submitted or to be submitted for filing or recording) is delivered to the Custodian on or before
the date set forth herein, and either the original of such non-delivered document or instrument, or a photocopy thereof (certified
by the appropriate county recorder’s office or the applicable title insurance company, in the case of the documents and/or
instruments referred to in clause (ii) of the definition of “Mortgage File”, to be a true and complete copy of
the original thereof submitted for recording), with evidence of filing or recording thereon, is delivered to the Custodian within
one hundred-eighty (180) days of the Closing Date (or within such longer period, not to exceed eighteen (18) months,
after the Closing Date as the Custodian shall consent to as long as the applicable Mortgage Loan Seller is, as certified in writing
to the Trustee and the Custodian no less often than every ninety (90) days following such 180–day period after the
Closing Date, attempting in good faith to obtain from the appropriate public filing office or county recorder’s office such
original or photocopy). If the applicable Mortgage Loan Seller is required to, but cannot, deliver, or cause to be delivered,
as to any Mortgage Loan, any of the documents and/or instruments referred to in clauses (ii), (iv), (vii), and (ix) (or,
if applicable, a copy thereof) of the definition of “Mortgage File,” with evidence of filing or recording thereon
(if intended to be recorded or filed), for any other reason, including, without limitation, that such non-delivered document
or instrument has been lost or destroyed, the delivery requirements of the applicable Mortgage Loan Purchase Agreement and this
Section 2.01(b) shall be deemed to have been satisfied as to such non-delivered document or instrument, and such non-delivered
document or instrument shall be deemed to have been included in the Mortgage File, if a photocopy of such non-delivered document
or instrument (with evidence of filing or recording thereon and certified in the case of the documents and/or instruments referred
to in clause (ii) of the definition of “Mortgage File” by the appropriate county recorder’s office or the
applicable title insurance company to be a true and complete copy of the original thereof submitted for recording) is delivered
to the Custodian on or before the date set forth herein. Neither the Trustee nor any Custodian shall in any way be liable for
any failure by any Mortgage Loan Seller or the Depositor to comply with the delivery requirements of the related Mortgage Loan
Purchase Agreement and this Section 2.01(b). If, on the Closing Date as to any Mortgage Loan, subject to the next sentence,
the applicable Mortgage Loan Seller is required to, but cannot, deliver (in complete and recordable form or form suitable for
filing or recording, if applicable) any one of the assignments in favor of the Trustee referred to in clause (iii), clause (v),
or clause (x) of the definition of “Mortgage File” solely because of the unavailability of filing or recording
information

  

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as
to any existing document or instrument, such Mortgage Loan Seller may provisionally satisfy the delivery requirements of the related
Mortgage Loan Purchase Agreement and this Section 2.01(b) with respect to such assignment by delivering with respect to
such Mortgage Loan on the Closing Date an omnibus assignment of such Mortgage Loan substantially in the form of Exhibit H;
provided that all required original assignments with respect to such Mortgage Loan (in fully complete and recordable form
or form suitable for filing or recording, if applicable) are delivered to the Custodian within one hundred-eighty (180) days
after the Closing Date (or within such longer period, not to exceed eighteen (18) months, which the Custodian shall consent
to so long as the applicable Mortgage Loan Seller is, as certified in writing to the Trustee and the Custodian no less often than
every ninety (90) days following such 180–day period after the Closing Date, attempting in good faith to obtain from
the appropriate public filing office or county recorder’s office the applicable filing or recording information as to the
related document or instrument); and provided, further, that in the case of a Non-Serviced Mortgage Loan, the
delivery of any such assignments shall be subject to clause (e) and clause (f) of the first proviso to the definition
of “Mortgage File” herein. As to any Mortgage Loan, the related Mortgage Loan Seller or its agent is responsible for
recording or filing, as applicable, any one of the assignments in favor of the Trustee referred to in clause (iii), clause (v),
or clause (x) of the definition of “Mortgage File”, and such Mortgage Loan Seller may provisionally satisfy the
delivery requirements of the related Mortgage Loan Purchase Agreement and this Section 2.01(b) with respect to such assignment
by delivering to the Custodian with respect to such Mortgage Loan on the Closing Date a copy of such assignment in the form sent
for recording or filing or (except for recording or filing information not yet available) to be sent for recording or filing;
provided that an original or copy of such assignment (with evidence of recording or filing, as applicable, indicated thereon)
shall be delivered to the Custodian as contemplated by Section 2.01(c) of this Agreement. Notwithstanding anything herein
to the contrary, with respect to letters of credit referred to in clause (xii) of the definition of “Mortgage File”,
the applicable Mortgage Loan Seller shall deliver the original to the Master Servicer (which letter of credit shall be titled
in the name of, or assigned to, “Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer,
on behalf of Wells Fargo Bank, National Association, as Trustee, for the benefit of the registered holders of BBCMS Mortgage Trust
2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3”), and a copy to the Custodian or, if such original
has been submitted by the applicable Mortgage Loan Seller to the issuing bank to effect a reissuance, assignment or amendment
of such letter of credit (changing the beneficiary thereof to the Master Servicer (in care of the Trustee, as titled above) that
may be required in order for the Master Servicer to draw on such letter of credit on behalf of the Trust in accordance with the
applicable terms thereof and/or of the related Mortgage Loan documents), the applicable Mortgage Loan Seller shall be deemed to
have satisfied the delivery requirements of the related Mortgage Loan Purchase Agreement and this Section 2.01(b) by delivering
with respect to any letter(s) of credit a copy thereof to the Custodian indicating that such document has been delivered to the
issuing bank for reissuance or an Officer’s Certificate from the Master Servicer certifying that it holds the letter(s)
of credit pursuant to this Section 2.01(b), one of which shall be delivered to the Custodian within forty-five (45) days
after the Closing Date. If a letter of credit referred to in the previous sentence is not in a form that would allow the Master
Servicer to draw on such letter of credit on behalf of the Trust in accordance with the applicable terms thereof and/or of the
related Mortgage Loan documents, the applicable Mortgage Loan Seller shall deliver the appropriate assignment or amendment documents
(or copies of such assignment or amendment documents if the related Mortgage Loan Seller has

 

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submitted
the originals to the related issuer of such letter of credit for processing) to the Custodian within forty-five (45) days
of the Closing Date. If not otherwise paid by the related Mortgagor, the applicable Mortgage Loan Seller shall pay any costs of
assignment or amendment of such letter(s) of credit required in order for the Master Servicer to draw on such letter(s) of credit
on behalf of the Trust and shall cooperate with the reasonable requests of the Master Servicer in connection with effectuating
a draw under any such letter of credit prior to the date such letter of credit is assigned or amended in order that it may be
drawn by the Master Servicer on behalf of the Trust.

 

(c)              
Except in the case of a Non-Serviced Mortgage Loan, the related Mortgage Loan Seller is required at its sole cost and expense,
to itself, or to engage a third party to, put each Assignment of Mortgage, each assignment of Assignment of Leases and each assignment
of each UCC Financing Statement (collectively, the “Assignments” and, individually, “Assignment”)
relating to the Mortgage Loans conveyed by it under the applicable Mortgage Loan Purchase Agreement in proper form for filing
or recording, as applicable, and to submit such Assignments for filing or recording, as the case may be, in the applicable public
filing or recording office. On the Closing Date, the Mortgage Loan Sellers may deliver one (1) omnibus assignment for all
such Mortgage Loans substantially in the form of Exhibit H hereto to the Custodian as provided in Section 2.01(b).
Except under the circumstances provided for in the last sentence of this Section 2.01(c) and except in the case of a Non-Serviced
Mortgage Loan, the related Mortgage Loan Seller will itself, or a third party at such Mortgage Loan Seller’s expense will,
promptly (and in any event within one hundred-twenty (120) days after the later of the Closing Date and the related Mortgage
Loan Seller’s actual receipt of the related documents and the necessary recording and filing information) cause to be submitted
for recording or filing, as the case may be, in the appropriate public office for real property records or UCC Financing Statements,
as appropriate, each Assignment. Each such Assignment submitted for recording shall reflect that it (or a file copy thereof in
the case of a UCC Assignment) should be returned by the public recording office to the Custodian or its designee following recording
or filing (or to the related Mortgage Loan Seller or its agent who will then be responsible for delivery of the same to the Custodian
or its designee). Any such Assignment received by the Custodian shall be promptly included in the related Mortgage File and be
deemed a part thereof, and any such Assignment received by the related Mortgage Loan Seller or its agent shall be required to
be delivered to the Custodian to be included as part of the related Mortgage File within thirty (30) days after receipt.
If any such document or instrument is determined to be incomplete or not to meet the recording or filing requirements of the jurisdiction
in which it is to be recorded or filed, or is lost by the public office or returned unrecorded or unfiled, as the case may be,
because of a defect therein, on or about one hundred-eighty (180) days after the Closing Date, the related Mortgage Loan
Seller or its designee shall prepare, at its own expense, a substitute therefor or cure such defect, as the case may be, and thereafter
the related Mortgage Loan Seller or its designee shall, at the expense of such Mortgage Loan Seller, upon receipt thereof cause
the same to be duly recorded or filed, as appropriate. If, by the first anniversary of the Closing Date, the Custodian has not
received confirmation of the recording or filing as the case may be, of any such Assignment, it shall so advise the related Mortgage
Loan Seller who may then pursue such confirmation itself or request that the Custodian pursue such confirmation at the related
Mortgage Loan Seller’s expense, and upon such a request and provision for payment of such expenses satisfactory to the Custodian,
the Custodian, at the expense of the applicable Mortgage Loan Seller, shall cause a search of the land records of each applicable
jurisdiction and of the records of the offices of the applicable Secretary of State for

 

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confirmation
that the Assignment appears in such records and retain a copy of such confirmation in the related Mortgage File. In the event
that confirmation of the recording or filing of an Assignment cannot be obtained, the Custodian or the related Mortgage Loan Seller,
as applicable, shall promptly inform the other and the Custodian shall provide such Mortgage Loan Seller with a copy of the Assignment
and request the preparation of a new Assignment. The related Mortgage Loan Seller shall pay the expenses for the preparation of
replacement Assignments for any Assignments which, having been properly submitted for filing or recording to the appropriate governmental
office by the Custodian, fail to appear of record and must be resubmitted. Notwithstanding the foregoing, there shall be no requirement
to record any assignment to the Trustee referred to in clause (iii) or (v) of the definition of “Mortgage File,”
or to file any UCC-3 to the Trustee referred to in clause (ix) of the definition of “Mortgage File,” in those
jurisdictions where, in the written opinion of local counsel (which opinion shall be an expense of the related Mortgage Loan Seller)
acceptable to the Depositor and the Trustee, such recordation and/or filing is not required to protect the Trustee’s interest
in the related Mortgage Loan against sale, further assignment, satisfaction or discharge by the related Mortgage Loan Seller,
the Master Servicer, the Special Servicer, any Sub-Servicer or the Depositor.

 

(d)              
All documents and records in the Depositor’s or the applicable Mortgage Loan Seller’s possession relating to the Mortgage
Loans (including, in each case, financial statements, operating statements and any other information provided by the respective
Mortgagor from time to time, but excluding the applicable Mortgage Loan Seller’s internal communications (including such
communications between such Mortgage Loan Seller and its Affiliates) and underwriting analysis (including documents prepared by
the applicable Mortgage Loan Seller or any of its Affiliates for such purposes), draft documents, attorney-client communications
that are privileged communications or constitute legal or other due diligence analyses and credit underwriting or due diligence
analyses or data) that (i) are not required to be a part of a Mortgage File in accordance with the definition thereof and
(ii) are reasonably necessary for the servicing of each such Mortgage Loan, together with copies of all documents in each
Mortgage File, shall be delivered by the Depositor or the applicable Mortgage Loan Seller to the Master Servicer within five (5) Business
Days after the Closing Date (except that copies of any instruments of assignment that are returned to the Custodian by the related
public recording office in accordance with the requirements of Section 2.01(c) shall be delivered by the Custodian to the
Master Servicer when the originals are returned to the Custodian) and shall be held by the Master Servicer on behalf of the Trustee
in trust for the benefit of the Certificateholders (and as holder of the Lower-Tier Regular Interests) and, if applicable,
on behalf of the related Companion Holder; provided that the parties hereto acknowledge and agree that some or all of the
items in this Section 2.01(d) have, as of the Closing Date, been posted to websites to which various parties to this Agreement
have access, and if any such items have been so posted to any such website(s) to which the Master Servicer has access, such items
will be deemed to have been delivered to the Master Servicer in accordance with this Section 2.01(d); and provided,
further, that if the Master Servicer is unable to download such items from such website(s) after making reasonable efforts
to do so and provides notice (which may be delivered by electronic means) to the Mortgage Loan Seller, the Depositor shall cause
such Mortgage Loan Seller to deliver such items to the Master Servicer by such means as may be reasonably acceptable to the Master
Servicer. Such documents and records shall be any documents and records (with the exception of any items excluded under the immediately
preceding sentence) that would otherwise be a part of the Servicing File.

 

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(e)               
In connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall deliver to the
Trustee and the Master Servicer, on or before two (2) Business Days after the Closing Date, a fully executed original counterpart
of each of the Mortgage Loan Purchase Agreements, as in full force and effect, without amendment or modification, on the Closing
Date.

 

(f)                
The Depositor shall use its reasonable best efforts to require that, promptly after the Closing Date, but in all events within
three (3) Business Days after the Closing Date, each of the Mortgage Loan Sellers shall cause all funds on deposit in escrow
accounts maintained with respect to the Mortgage Loans (other than any Non-Serviced Mortgage Loan) transferred by such Mortgage
Loan Seller, whether such accounts are held in the name of the applicable Mortgage Loan Seller or any other name to be transferred
to the Master Servicer (or a Sub-Servicer) for deposit into Servicing Accounts.

 

(g)              
With respect to the Mortgage Loans secured by the Mortgaged Properties identified as Mortgage Loan Numbers 4.01, 4.02, 4.03, 4.04,
5, 12, 28, 30, 34, 38, 41, 43, 47 and 49 on the Mortgage Loan Schedule, which are each subject to a franchise agreement with a
related comfort letter in favor of the respective Mortgage Loan Seller that requires notice to or request of the related franchisor
to transfer or assign any related comfort letter to the Trustee for the benefit of the Certificateholders or otherwise have a
new comfort letter (or any such new document or acknowledgement as may be contemplated under the existing comfort letter) issued
in the name of the Trustee for the benefit of the Certificateholders, the related Mortgage Loan Seller or its designee shall provide
any such required notice or make any such required request to the related franchisor (with a copy of such notice or request to
the Master Servicer) within forty-five (45) days of the Closing Date (or any shorter period if required by the applicable
comfort letter), and the Master Servicer shall use reasonable efforts in accordance with the Servicing Standard to acquire such
replacement comfort letter, if necessary (or to acquire any such new document or acknowledgement as may be contemplated under
the existing comfort letter). If the Master Servicer is unable to acquire any such replacement comfort letter (or new document
or acknowledgement, as applicable) within 120 days of the Closing Date, the Master Servicer shall notify the related Mortgage
Loan Seller that no such replacement comfort letter has been received.

 

(h)              
Each Mortgage Loan Purchase Agreement shall provide that within sixty (60) days after the Closing Date, each Mortgage Loan
Seller shall deliver or cause to be delivered the Diligence Files for each of its Mortgage Loans to the Depositor by uploading
such Diligence Files to the Designated Site. Promptly upon completion of such delivery of the Diligence Files (but in no event
later than sixty (60) days after the Closing Date), the applicable Mortgage Loan Seller shall provide the Depositor a certificate
(with a copy (which may be sent by e-mail) to each of the Master Servicer, the Special Servicer, the Trustee, the Certificate
Administrator, the Custodian, the Directing Certificateholder, the Asset Representations Reviewer and the Operating Advisor certifying
that the electronic copies of the documents and information uploaded to the Designated Site constitute all documents and information
required under the definition of “Diligence File” and such Diligence Files are organized and categorized in accordance
with the electronic file structure reasonably agreed to by the Depositor and the applicable Mortgage Loan Seller (the “Diligence
File Certification”).

 

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(i)                
Within two (2) Business Days of the Closing Date, the Depositor shall deliver each of the Initial Schedule AL File and any Initial
Schedule AL Additional File in EDGAR Compatible Format and Excel format and Annex A-1 to the Prospectus in Excel format to
the Master Servicer via electronic email to NoticeAdmin@midlandls.com.

 

(j)                
Notwithstanding anything to the contrary contained in this Section 2.01 or in Section 2.02, in connection with each
Servicing Shift Whole Loan, (1) instruments of assignment to the Trustee may be in blank and need not be recorded pursuant
to this Agreement (other than the endorsements to the note(s) evidencing the related Servicing Shift Mortgage Loan) until the
earlier of (i) the Servicing Shift Date, in which case such instruments shall be assigned and recorded in accordance with
the related Non-Serviced PSA, (ii) the Servicing Shift Whole Loan becoming a Specially Serviced Loan prior to the Servicing
Shift Date and (iii) 180 days after the Closing Date, in which case assignments and recordations shall be effected in accordance
with this Section 2.01 until the occurrence, if any, of the Servicing Shift Date, (2) no letter of credit need be
amended (including, without limitation, to change the beneficiary thereon) until the earliest of (i) the Servicing Shift
Date, in which case such amendment shall be in accordance with the related Non-Serviced PSA, (ii) the Servicing Shift
Whole Loan becoming a Specially Serviced Loan prior to the Servicing Shift Date in which case such amendment shall be effected
in accordance with the terms of this Section 2.01 and (iii) the earlier of (A) 180 days after the Closing
Date and (B) any such time as any such letter of credit is required to be drawn upon by the Master Servicer in which case
such amendment shall be effected in accordance with the terms of this Section 2.01, and (3) on and following the Servicing
Shift Date, the Person selling the related Servicing Shift Control Note to the related Non-Serviced Depositor, at its own
expense, shall be (a) entitled to direct in writing, which may be conclusively relied upon by the Custodian, the Custodian
to deliver the originals of all the Mortgage Loan documents relating to the Servicing Shift Whole Loan in its possession (other
than the original note(s) evidencing the Servicing Shift Mortgage Loan) to the related Non-Serviced Trustee or the related
Non-Serviced Custodian, (b) if the right under clause (a) is exercised, required to cause the retention by or delivery
to the Custodian of photocopies of Mortgage Loan documents related to the Servicing Shift Whole Loan so delivered to such Non-Serviced
Trustee or such Non-Serviced Custodian, (c) entitled to cause the completion (or, in the event of a recordation as contemplated
by clause (1)(ii) of this paragraph, the preparation, execution and delivery) and recordation of instruments of assignment
in the name of the related Non-Serviced Trustee or related Non-Serviced Custodian, (d) if the right under clause (c)
is exercised, required to deliver to the Trustee or Custodian photocopies of any instruments of assignment so completed and recorded,
and (e) entitled to require the Master Servicer to transfer, and to cooperate with all reasonable requests in connection
with the transfer of, the Servicing File, and any Escrow Payments, reserve funds and items specified in clauses (x) and (xii)
of the definition of “Mortgage File” for the Servicing Shift Whole Loan to the related Non-Serviced Master Servicer.

 

Section
2.02        Acceptance by Trustee. (a) The Trustee, by the execution and delivery of
this Agreement (1) acknowledges receipt by it or the Custodian on its behalf, subject to the provisions of Section 2.01,
in good faith and without notice of any adverse claim, of the applicable documents specified in clause (i) of the definition
of “Mortgage File” with respect to each Mortgage Loan and of all other assets included in the Trust Fund and (2) declares
(a) that it or the Custodian on its behalf holds and will hold such documents and the other documents delivered or caused
to be delivered by the Mortgage Loan Sellers that constitute the Mortgage

 

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Files
in the name of the Trust for the benefit of all present and future Certificateholders and Serviced Companion Noteholders, as applicable,
and (b) that it holds and will hold such other assets included in the Trust Fund, in trust for the exclusive use and benefit
of all present and future Certificateholders (and for the benefit of the Trustee as holder of the Lower-Tier Regular Interests),
as applicable. If any Mortgage Loan Seller is unable to deliver or cause the delivery of any original Mortgage Note, such Mortgage
Loan Seller may deliver a copy of such Mortgage Note, together with a signed lost note affidavit and appropriate indemnity and
shall thereby be deemed to have satisfied the document delivery requirements of Section 2.01 and of this Section 2.02.

 

(b)              
Within sixty (60) days after the Closing Date (or with respect to a Qualified Substitute Mortgage Loan within sixty (60) days
after the Due Date in the month of substitution), the Custodian, shall review the Mortgage Loan documents delivered or caused
to be delivered by the Mortgage Loan Sellers constituting the Mortgage Files; and, promptly following such review (but in no event
later than sixty (60) days after the Closing Date), the Custodian shall, in the form attached as Exhibit Q, certify
in writing to the Depositor, the Master Servicer, the Special Servicer, the Directing Certificateholder (so long as no Consultation
Termination Event shall have occurred and be continuing and only with respect to Mortgage Loans other than any Excluded Loan),
the Trustee, the Certificate Administrator, the Asset Representations Reviewer, the Operating Advisor and the applicable Mortgage
Loan Seller (as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full)) that,
except as specifically identified in any exception report annexed to such writing (the “Custodial Exception Report”),
(i) subject to the first proviso of the definition of “Mortgage File” herein and Section 2.01, all documents
specified in clauses (i) through (v), (viii), (ix), (xi), (xii) and (xiii), if any, of the definition of “Mortgage
File”, as applicable, are in its possession, (ii) the foregoing documents delivered or caused to be delivered by the
Mortgage Loan Sellers have been reviewed by the Custodian and appear regular on their face and appear to be executed and to relate
to such Mortgage Loan, and (iii) based on such examination and only as to the foregoing documents, the information set forth
in the Mortgage Loan Schedule with respect to the items specified in clauses (iv), (vi) and (viii)(c) in the definition of
“Mortgage Loan Schedule” is correct. With respect to each Mortgage Loan listed on the Custodial Exception Report,
the Custodian shall specifically identify such Mortgage Loan together with the nature of such exception (in the form reasonably
acceptable to the Custodian and the related Mortgage Loan Seller and separating items required to be in the Mortgage File but
never delivered from items which were delivered by the related Mortgage Loan Seller but are out for filing or recording and have
not been returned by the filing office or the recorder’s office).

 

(c)               
The Custodian shall review the Mortgage Loan documents received subsequent to the Closing Date; and, on or about the first anniversary
of the Closing Date, the Custodian shall, in the form attached as Exhibit Q, certify in writing to each of the Depositor,
the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Directing Certificateholder and the
applicable Mortgage Loan Seller (as to each Mortgage Loan listed on the Mortgage Loan Schedule (other than any related Mortgage
Loan as to which a Liquidation Event has occurred) or any related Mortgage Loan specifically identified in any exception report
annexed to such writing) that, (i) subject to the first proviso of the definition of “Mortgage File” herein and
Section 2.01, all documents specified in clauses (i) through (v), (viii), (ix), (xi), (xii) and (xiii), if any, of
the definition of “Mortgage File”, as applicable, are in its possession, (ii) the foregoing documents delivered
or caused to be delivered by the Mortgage Loan Sellers have been reviewed by the Custodian and appear regular on their face and
appear to be executed and relate to such

 

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Mortgage
Loan, if applicable, and (iii) based on such examination and only as to the foregoing documents, the information set forth
in the Mortgage Loan Schedule with respect to the items specified in clauses (iv), (vi) and (viii)(c) in the definition of
“Mortgage Loan Schedule” is correct.

 

(d)              
Notwithstanding anything contained in this Section 2.02 and Section 2.03(b) to the contrary, in the case of a Material
Defect in any of the documents specified in clauses (ii) through (v), (vii), (viii) and (ix) in the definition of “Mortgage
File”, which Material Defect results solely from a delay in the return of the related documents from the applicable filing
or recording office and gives rise to a repurchase or substitution obligation on the part of the related Mortgage Loan Seller
with respect to the subject Mortgage Loan pursuant to the related Mortgage Loan Purchase Agreement, the Directing Certificateholder,
in its sole judgment, may (other than with respect to any Excluded Loan and, with respect to any other Mortgage Loan, only prior
to the occurrence and continuance of a Control Termination Event), and the Special Servicer may, in accordance with the Servicing
Standard, after the occurrence and during the continuance of a Control Termination Event, permit the related Mortgage Loan Seller
in lieu of repurchasing or substituting for the related Mortgage Loan, to deposit with the Master Servicer an amount, to be held
in trust in a segregated Eligible Account (which may be a sub-account of the Collection Account), equal to 25% of the Stated
Principal Balance of the related Mortgage Loan (in the alternative, the related Mortgage Loan Seller may deliver to the Master
Servicer a letter of credit in such amount, with a copy to the Custodian). Such funds or letter of credit, as applicable, shall
be held by the Master Servicer (i) until the date on which the Custodian determines and notifies the Master Servicer that
such Material Defect has been cured or the related Mortgage Loan is no longer part of the Trust Fund, at which time the Master
Servicer shall return such funds (or letter of credit) to the related Mortgage Loan Seller, or (ii) until same are applied
to the Purchase Price (or the Substitution Shortfall Amount, if applicable) as set forth below in this Section 2.02(d)
in the event of a repurchase or substitution by the related Mortgage Loan Seller. Notwithstanding the two immediately preceding
sentences, if the Master Servicer or the Special Servicer certifies to the Trustee, the Certificate Administrator and the Custodian
that it has determined in the exercise of its reasonable judgment that the document with respect to which such Material Defect
exists is required in connection with an imminent enforcement of the mortgagee’s rights or remedies under the related Mortgage
Loan, defending any claim asserted by any Mortgagor or third party with respect to the related Mortgage Loan, establishing the
validity or priority of any lien on collateral securing the related Mortgage Loan or for any immediate significant servicing obligation,
the related Mortgage Loan Seller shall be required to repurchase or substitute for the related Mortgage Loan in accordance with,
and to the extent required by, the terms and conditions of Section 2.03(b) and Section 5 of the related Mortgage Loan
Purchase Agreement; provided, however, that such Mortgage Loan Seller shall not be required to repurchase the Mortgage
Loan for a period of ninety (90) days after receipt of a notice to repurchase (together with any applicable extension period)
if it is attempting to recover the document from the applicable filing or recording office and provides an officer’s certificate
setting forth what actions such Mortgage Loan Seller is pursuing in connection with such recovery. In the event of a repurchase
or substitution, upon the date of such repurchase or substitution, and in the event that the related Mortgage Loan Seller has
delivered a letter of credit to the Master Servicer in accordance with this Section 2.02(d), the Master Servicer shall,
to the extent necessary, draw on the letter of credit and deposit the proceeds of such draw, into the Collection Account to be
applied to the Purchase Price (or the Substitution Shortfall Amount, if applicable, in which event, the amount of such funds or
proceeds that exceed the Substitution Shortfall Amount shall be returned to the related Mortgage Loan Seller) in accordance

 

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with
Section 2.03(b). All such funds deposited in the Collection Account shall be invested in Permitted Investments, at the
direction and for the benefit of the related Mortgage Loan Seller. Such funds shall be treated as an “outside reserve fund”
under the REMIC Provisions, which, together with any reimbursement from the Lower-Tier REMIC, is beneficially owned by the
related Mortgage Loan Seller for federal income tax purposes, which Mortgage Loan Seller shall remain liable for any taxes payable
on income or gain with respect thereto.

 

(e)               
It is herein acknowledged that neither the Trustee nor any Custodian is under any duty or obligation (i) to determine whether
any of the documents specified in clauses (vi), (vii) and (xii) through (xviii) of the definition of “Mortgage
File” exist or are required to be delivered by the Depositor, the Mortgage Loan Sellers or any other Person (unless identified
on the Mortgage Loan Checklist) or (ii) to inspect, review or examine any of the documents, instruments, certificates or
other papers relating to the Mortgage Loans delivered to it to determine that the same are genuine, enforceable, duly authorized,
sufficient to perfect and maintain the perfection of a security interest or appropriate for the represented purpose or that they
are other than what they purport to be on their face and, with respect to the documents specified in clause (viii) of the
definition of the “Mortgage File”, whether the insurance is effective as of the date of the recordation, whether all
endorsements or riders issued are included in the file or if the policy has not been issued whether any acceptable replacement
document has been dated the date of the related Mortgage Loan funding. Further, with respect to the UCC Financing Statements referenced
in the Mortgage File, absent actual knowledge to the contrary or copies of UCC Financing Statements delivered to the Custodian
as part of the Mortgage File indicating otherwise, the Custodian may assume, for the purposes of the filings and the certification
to be delivered in accordance with this Section 2.02 that the related Mortgage File should include one state level UCC
Financing Statement filing for each Mortgaged Property (or with respect to any Mortgage Loan that has two or more Mortgagors,
for each Mortgagor, except to the extent multiple Mortgagors are named as debtors in the same UCC Financing Statement filing),
or if the Custodian has received notice that a particular UCC Financing Statement was filed as a fixture filing, that the related
Mortgage File should include only a local UCC Financing Statement filing for each Mortgaged Property (or with respect to any Mortgage
Loan that has two or more Mortgagors, for each Mortgagor, except to the extent multiple Mortgagors are named as debtors in the
same UCC Financing Statement filing). The assignments of the UCC Financing Statements to be assigned to the Trust will be delivered
on the national forms (or on such other form as may be acceptable for filing or recording in the applicable jurisdiction) and
in a format suitable for filing or recording, as applicable, and will be filed or recorded in the jurisdiction(s) where such UCC
Financing Statements were originally filed or recorded, as indicated in the documents provided, and in accordance with then-current
laws.

 

(f)               
If, in the process of reviewing the Mortgage Files or at any time thereafter, the Custodian finds any document or documents constituting
a part of a Mortgage File (1) not to have been properly executed, (2) subject to the timing requirements of Sections 2.01(b)
and 2.01(c), not to have been delivered, (3) to contain information that does not conform in any material respect
with the corresponding information set forth in the Mortgage Loan Schedule or (4) to be defective on its face (each, a “Defect”
in the related Mortgage File), the Custodian shall promptly so notify the Depositor, the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator, the Directing Certificateholder, the applicable Mortgage Loan Seller (and in no event
later than ninety (90) days after the Closing Date and every calendar quarter

 

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thereafter
until all Defects are corrected) by providing a Custodial Exception Report setting forth for each affected Mortgage Loan, with
particularity, the nature of such Defect (in a form reasonably acceptable to the Custodian and such Mortgage Loan Seller and separating
items required to be in the Mortgage File but never delivered from items which were delivered by such Mortgage Loan Seller but
are out for recording or filing and have not been returned by the recorder’s office or filing office).

 

(g)              
If the Master Servicer or the Special Servicer (i) receives a Repurchase Request or any other request or demand from any
Person for a Mortgage Loan Seller to repurchase or replace a Mortgage Loan because of an alleged Defect or Breach (together with
a Repurchase Request, a “15Ga-1 Repurchase Request”) (the Master Servicer or the Special Servicer, as applicable,
to the extent it receives such 15Ga-1 Repurchase Request, the “Repurchase Request Recipient” with respect
to such 15Ga-1 Repurchase Request); or (ii) receives any withdrawal of a 15Ga-1 Repurchase Request by the Person
making such 15Ga-1 Repurchase Request or any rejection of a 15Ga-1 Repurchase Request (or such 15Ga-1 Repurchase Request
is forwarded to the Master Servicer or the Special Servicer by another party hereto), then the Repurchase Request Recipient shall
deliver notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered
on or prior to the next Business Day) of such 15Ga-1 Repurchase Request or withdrawal or rejection of a 15Ga-1 Repurchase
Request (each, a “15Ga-1 Notice”) to the applicable Mortgage Loan Seller (other than in the case of a rejection
by such Mortgage Loan Seller) and the Depositor, in each case within ten (10) Business Days from such Repurchase Request
Recipient’s receipt thereof.

 

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

 

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

 

In
the event that the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer or the Custodian receives a 15Ga-1 Repurchase Request, such party shall promptly
forward or otherwise provide written notice of such 15Ga-1 Repurchase Request to the Master

 

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Servicer,
if relating to a Non-Specially Serviced Loan, or to the Special Servicer, if relating to a Specially Serviced Loan or REO
Property, and include the following statement in the related correspondence: “This is a ‘15Ga-1 Repurchase Request’
under Section 2.02 of the Pooling and Servicing Agreement relating to the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage
Pass-Through Certificates, Series 2019-C3 requiring action by you as the ‘Repurchase Request Recipient’ thereunder.”
Upon receipt of such 15Ga-1 Repurchase Request by the Master Servicer or the Special Servicer, as applicable, such party shall
be deemed to be the Repurchase Request Recipient in respect of such 15Ga-1 Repurchase Request, and such party shall comply
with the procedures set forth in this Section 2.02(g) with respect to such 15Ga-1 Repurchase Request. In no event shall
the Custodian, by virtue of this provision, be required to provide any notice other than as set forth in Section 2.02 of
this Agreement in connection with its review of the Mortgage File.

 

If
the Depositor, the Trustee, the Master Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or the Custodian receives notice or has knowledge of a withdrawal or a rejection of a 15Ga-1 Repurchase Request of
which notice has been previously received or given, and such notice was not received from or copied to the Master Servicer or
the Special Servicer, then such party shall give notice of such withdrawal or rejection to the Master Servicer or the Special
Servicer, as applicable. Any such notice received by the Trustee, the Certificate Administrator, the Certificate Registrar, Operating
Advisor, Asset Representations Reviewer or the Custodian shall also be provided to the Depositor and, in the case of a withdrawal
notice, to the applicable Mortgage Loan Seller.

 

In
the event that a Mortgage Loan is repurchased or replaced pursuant to Section 2.03 of this Agreement, the Enforcing Servicer
shall promptly notify the Depositor of such repurchase or replacement.

 

Section
2.03        Representations, Warranties and Covenants of the Depositor; Mortgage Loan Sellers’
Repurchase or Substitution of Mortgage Loans for Defects in Mortgage Files and Breaches of Representations and Warranties.
(a) The Depositor hereby represents and warrants that:

 

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

 

(ii)               
Assuming the due authorization, execution and delivery of this Agreement by each other party hereto, this Agreement and all of
the obligations of the Depositor hereunder are the legal, valid and binding obligations of the Depositor, enforceable against
the Depositor in accordance with the terms of this Agreement, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors’ rights generally, and by general principles
of equity

 

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(regardless
of whether such enforceability is considered in a proceeding in equity or at law);

 

(iii)               
The execution and delivery of this Agreement and the performance of its obligations hereunder by the Depositor will not conflict
with any provisions of any law or regulations to which the Depositor is subject, or conflict with, result in a breach of or constitute
a default under any of the terms, conditions or provisions of the certificate of formation or operating agreement of the Depositor
or any indenture, agreement or instrument to which the Depositor is a party or by which it is bound, or any order or decree applicable
to the Depositor, or result in the creation or imposition of any lien on any of the Depositor’s assets or property, which
would materially and adversely affect the ability of the Depositor to carry out the transactions contemplated by this Agreement;
the Depositor has obtained any consent, approval, authorization or order of any court or governmental agency or body required
for the execution, delivery and performance by the Depositor of this Agreement;

 

(iv)               
There is no action, suit or proceeding pending or, to the Depositor’s knowledge, threatened against the Depositor in any
court or by or before any other governmental agency or instrumentality which would materially and adversely affect the validity
of the Mortgage Loans or the ability of the Depositor to carry out the transactions contemplated by this Agreement; and

 

(v)               
The Depositor is the lawful owner of the Mortgage Loans with the full right to transfer the Mortgage Loans to the Trust, and the
Mortgage Loans have been validly transferred to the Trust.

 

(b)              
After receipt of a Repurchase Request, the Enforcing Servicer shall request in writing that the applicable Mortgage Loan Seller,
not later than ninety (90) days after (i) except in the case of the succeeding clause (ii), the applicable Mortgage
Loan Seller’s receipt of such notice of such Repurchase Request or, if earlier, such Mortgage Loan Seller’s discovery
of such Material Defect or (ii) in the case of a Material Defect relating to a Mortgage Loan not being a Qualified Mortgage,
the earlier of (x) discovery by the related Mortgage Loan Seller or any party to this Agreement of such Material Defect and
(y) receipt of notice of the Material Defect from any party to this Agreement (such ninety (90) day period, the “Initial
Cure Period”), (A) cure such Material Defect in all material respects, at such Mortgage Loan Seller’s own
expense, including reimbursement of any related reasonable additional expenses of the Trust reasonably incurred by any party to
this Agreement, (B) repurchase the affected Mortgage Loan or REO Loan (excluding any related Serviced Companion Loan, if
applicable), at the applicable Purchase Price and in conformity with the applicable Mortgage Loan Purchase Agreement and this
Agreement or (C) substitute a Qualified Substitute Mortgage Loan (other than with respect to the Whole Loans, for which no
substitution will be permitted) for such affected Mortgage Loan or REO Loan (provided that in no event shall any such substitution
occur on or after the second anniversary of the Closing Date) and pay the Master Servicer for deposit into the Collection Account,
any Substitution Shortfall Amount in connection therewith and in conformity with the applicable Mortgage Loan Purchase Agreement
and this Agreement; provided, however, that except with respect to a Material Defect resulting solely from the failure
by the Mortgage Loan Seller to deliver to the Trustee or Custodian the actual policy of lender’s title insurance required
pursuant to

 

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clause (viii)
of the definition of Mortgage File by a date not later than eighteen (18) months following the Closing Date, if such Material
Defect is capable of being cured but is not cured within the Initial Cure Period, and the applicable Mortgage Loan Seller has
commenced and is diligently proceeding with the cure of such Material Defect within the Initial Cure Period, the applicable Mortgage
Loan Seller shall have an additional ninety (90) days commencing immediately upon the expiration of the Initial Cure
Period (such additional ninety (90) day period, the “Extended Cure Period”) to complete such cure (or,
failing such cure, to repurchase the related Mortgage Loan or REO Loan (excluding any related Serviced Companion Loan, if applicable)
or substitute a Qualified Substitute Mortgage Loan (other than with respect to the Whole Loans, for which no substitution will
be permitted)) and provided, further, that with respect to such Extended Cure Period the applicable Mortgage Loan
Seller shall have delivered an officer’s certificate to the Trustee, the Certificate Administrator (who shall promptly deliver
a copy of such officer’s certificate to the 17g-5 Information Provider), the Master Servicer, the Special Servicer,
the Operating Advisor and (with respect to any Mortgage Loan other than an Excluded Loan, prior to the occurrence and continuance
of a Consultation Termination Event) the Directing Certificateholder, setting forth the reason such Material Defect is not capable
of being cured within the Initial Cure Period and what actions the applicable Mortgage Loan Seller is pursuing in connection with
the cure thereof and stating that the applicable Mortgage Loan Seller anticipates that such Material Defect will be cured within
the Extended Cure Period; and provided, further, that, if any such Material Defect is not cured after the Initial
Cure Period and any such Extended Cure Period solely due to the failure of the related Mortgage Loan Seller to have received the
recorded document, then such Mortgage Loan Seller shall be entitled to continue to defer its cure, repurchase and/or substitution
obligations in respect of such Material Defect until eighteen (18) months after the Closing Date for so long as such Mortgage
Loan Seller certifies to the Trustee, the Master Servicer, the Special Servicer and the Directing Certificateholder (in the case
of the Directing Certificateholder, prior to the occurrence and continuance of a Consultation Termination Event) and the Certificate
Administrator no less than every ninety (90) days, beginning at the end of such Extended Cure Period, that such Material
Defect is still in effect solely because of its failure to have received the recorded document and that such Mortgage Loan Seller
is diligently pursuing the cure of such Material Defect (specifying the actions being taken). Notwithstanding the foregoing, any
Defect or Breach which causes any Mortgage Loan not to be a Qualified Mortgage) shall be deemed to materially and adversely affect
the interests of Certificateholders therein, and (subject to the applicable Mortgage Loan Seller’s right to cure such Defect
or Breach during the Initial Cure Period) such Mortgage Loan shall be repurchased or substituted for without regard to the Extended
Cure Period described in the preceding sentence. If the affected Mortgage Loan is to be repurchased, the funds in the amount of
the Purchase Price remitted by the applicable Mortgage Loan Seller are to be remitted by wire transfer to the Master Servicer
for deposit into the Collection Account.

 

If
a Mortgage Loan Seller, in connection with a Material Defect (or an allegation of a Material Defect) pertaining to a Mortgage
Loan, makes a cash payment pursuant to an agreement or a settlement between the applicable Mortgage Loan Seller and the Enforcing
Servicer, on behalf of the Trust (and, with respect to any Mortgage Loan other than an Excluded Loan or a Servicing Shift Mortgage
Loan, in either case, with the consent of the Directing Certificateholder if no Control Termination Event has occurred and is
continuing) (each such payment, a “Loss of Value Payment”) with respect to such Mortgage Loan, the amount of
such Loss of Value Payment shall be deposited into the Loss of Value Reserve Fund to be applied in

 

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accordance
with Section 3.05(g) of this Agreement. The Loss of Value Payment shall include the portion of any Liquidation Fees payable
to the Enforcing Servicer in respect of such Loss of Value Payment and the portion of fees of the Asset Representations Reviewer
attributable to the Asset Review of such Mortgage Loan and not previously paid by the Mortgage Loan Seller. If such Loss of Value
Payment is made, the Loss of Value Payment shall serve as the sole remedy available to the Certificateholders and the Trustee
on their behalf regarding any such Material Defect in lieu of any obligation of the Mortgage Loan Seller to otherwise cure such
Material Defect or repurchase or substitute for the affected Mortgage Loan based on such Material Defect under any circumstances.
This paragraph is intended to apply only to a mutual agreement or settlement between the applicable Mortgage Loan Seller and the
Enforcing Servicer on behalf of the Trust, provided that (i) prior to any such agreement or settlement nothing in
this paragraph shall preclude the Mortgage Loan Seller or the Enforcing Servicer from exercising any of its rights related to
a Material Defect in the manner and timing set forth in the related Mortgage Loan Purchase Agreement or this Section 2.03
(excluding this paragraph) (including any right to cure, repurchase or substitute for such Mortgage Loan), (ii) such Loss
of Value Payment shall not be greater than the Purchase Price of the affected Mortgage Loan; and (iii) a Material Defect
as a result of a Mortgage Loan not constituting a Qualified Mortgage may not be cured by a Loss of Value Payment.

 

With
respect to any Non-Serviced Whole Loan, any “Defect” (or analogous term) under the related Non-Serviced PSA
shall constitute a Material Defect under each Mortgage Loan Purchase Agreement to the extent the applicable Mortgage Loan Seller
repurchases the Non-Serviced Companion Loan from the trust created pursuant to such Non-Serviced PSA; provided,
however, that the foregoing shall not apply to any Defect related solely to the promissory note for any related Non-Serviced
Companion Loan.

 

If
any Breach that constitutes a Material Defect pertains to a representation or warranty that the related Mortgage Loan documents
or any particular Mortgage Loan document requires the related Mortgagor to bear the costs and expenses associated with any particular
action or matter under such Mortgage Loan document(s), then the related Mortgage Loan Seller shall cure such Breach within the
applicable cure period (as the same may be extended) by reimbursing the Trust (by wire transfer of immediately available funds)
for (i) the reasonable amount of any such costs and expenses incurred by the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Trust that are incurred as a result of such Breach and have not been reimbursed by the related
Mortgagor and (ii) the amount of any fees payable by the Mortgage Loan Seller to the Asset Representations Reviewer to the extent
not previously paid by the Mortgage Loan Seller to the Asset Representations Reviewer attributable to the Asset Review of such
Mortgage Loan; provided that in the event any such costs and expenses exceed $10,000, the Mortgage Loan Seller shall have
the option to either repurchase or substitute for the related Mortgage Loan as provided above or pay such costs and expenses.
Except as provided in the proviso to the immediately preceding sentence, the related Mortgage Loan Seller shall remit the amount
of such costs and expenses and upon its making such remittance, the related Mortgage Loan Seller shall be deemed to have cured
such Breach in all respects. To the extent that any fees or expenses that are the subject of a cure by the related Mortgage Loan
Seller are subsequently obtained from the related Mortgagor, the portion of the cure payment made by the related Mortgage Loan
Seller equal to such fees or expenses obtained from the related Mortgagor shall promptly be returned to the related Mortgage Loan
Seller. Periodic Payments due with respect to each

 

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Qualified
Substitute Mortgage Loan (if any) after the related Due Date in the month of substitution, and Periodic Payments due with respect
to each Mortgage Loan being repurchased or replaced after the related Cut-off Date and received by the Master Servicer or
the Special Servicer on behalf of the Trust on or prior to the related date of repurchase or substitution, shall be part of the
Trust Fund. Periodic Payments due with respect to each Qualified Substitute Mortgage Loan (if any) on or prior to the related
Due Date in the month of substitution, and Periodic Payments due with respect to each Mortgage Loan being repurchased or replaced
and received by the Master Servicer or the Special Servicer on behalf of the Trust after the related date of repurchase or substitution,
shall not be part of the Trust Fund and are to be remitted by the Master Servicer (or by the Special Servicer to the Master Servicer
who shall remit such funds) to the applicable Mortgage Loan Seller effecting the related repurchase or substitution promptly following
receipt. Notwithstanding anything contained in this Agreement or the related Mortgage Loan Purchase Agreement, a delay in either
the discovery of a Material Defect or in providing notice of such Material Defect shall relieve the applicable Mortgage Loan Seller
of its obligation to cure, repurchase or substitute for (or make a Loss of Value Payment with respect to) the related Mortgage
Loan if it is otherwise required to do so under the related Mortgage Loan Purchase Agreement and/or this Article II
if (i) the related Mortgage Loan Seller did not otherwise discover or have knowledge of such Material Defect, (ii) such
delay is a result of the failure by a party to the applicable Mortgage Loan Purchase Agreement, or this Agreement, to provide
prompt notice as required by the terms of the applicable Mortgage Loan Purchase Agreement, or this Agreement, after such party
has actual knowledge of such Material Defect (knowledge shall not be deemed to exist by reason of the Custodial Exception Report),
(iii) such Material Defect does not relate to the applicable Mortgage Loan not being a Qualified Mortgage, and (iv) such
delay or failure to provide notice (as required by the terms of the applicable Mortgage Loan Purchase Agreement or this Agreement)
prevented the Mortgage Loan Seller from curing such Material Defect and such Material Defect was otherwise curable. Notwithstanding
the foregoing, if a Mortgage Loan is not secured by a Mortgaged Property that is, in whole or in part, a hotel, restaurant (operated
by a borrower), healthcare facility, nursing home, assisted living facility, self-storage facility, theater or fitness center
(operated by a borrower), then the failure to deliver copies of the UCC Financing Statements with respect to such Mortgage Loan
shall not be a Material Defect.

 

Pursuant
to each Mortgage Loan Purchase Agreement, if there is a Material Defect with respect to one or more Mortgaged Properties with
respect to a Mortgage Loan, the related Mortgage Loan Seller shall not be obligated to repurchase the Mortgage Loan if (i) the
affected Mortgaged Property may be released pursuant to the terms of any partial release provisions in the related Mortgage Loan
documents (and such Mortgaged Property is, in fact, released), (ii) the remaining Mortgaged Property(ies) satisfy the requirements,
if any, set forth in the Mortgage Loan documents and the related Mortgage Loan Seller provides an opinion of counsel to the effect
that such release in lieu of repurchase would not (A) cause any Trust REMIC to fail to qualify as a REMIC or (B) result
in the imposition of a tax upon any Trust REMIC or the issuing entity and (iii) each applicable Rating Agency has provided
a Rating Agency Confirmation.

 

(c)               
Subject to the applicable Mortgage Loan Seller’s right to cure as contemplated above in this Section 2.03, and further
subject to Section 2.01(b) and Section 2.01(c), any of the following shall cause a document in the Mortgage File
to be deemed to have a Material Defect: (i) the absence from the Mortgage File of the original signed Mortgage Note, unless
the Mortgage File contains a signed lost note affidavit and indemnity with a copy of the Mortgage

 

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Note
that appears to be regular on its face; (ii) the absence from the Mortgage File of the original signed Mortgage that appears
to be regular on its face, unless there is included in the Mortgage File either a copy of the Mortgage with evidence of recording
thereon or a copy of the Mortgage and a certificate from the related Mortgage Loan Seller stating that the original signed Mortgage
was sent for recordation; (iii) the absence from the Mortgage File of the item called for by clause (viii) of the definition
of “Mortgage File”; (iv) the absence from the Mortgage File of any intervening assignments required to create
a complete chain of assignments to the Trustee on behalf of the Trust, unless there is included in the Mortgage File either a
copy of the assignment with evidence of recording thereon or a copy of the intervening assignment and a certificate from the related
Mortgage Loan Seller stating that the original intervening assignments were sent for filing or recordation, as applicable; (v) the
absence from the Mortgage File of any required letter of credit; or (vi) with respect to any related leasehold Mortgage Loan,
the absence from the related Mortgage File of a copy (or an original, if available) of the related Ground Lease; provided,
however, that no Defect (except the Defects previously described in sub-clauses (ii) through (vi) of this Section
2.03(c)) shall be considered to materially and adversely affect the value of the related Mortgage Loan, the value of the related
Mortgaged Property or the interests of the Trustee or Certificateholders unless the document with respect to which the Defect
exists is required in connection with an imminent enforcement of the mortgagee’s rights or remedies under the related Mortgage
Loan, defending any claim asserted by any Mortgagor or third party with respect to the related Mortgage Loan, establishing the
validity or priority of any lien on any collateral securing the related Mortgage Loan or for any immediate significant servicing
obligation; provided, further, that no Defect relating to any Non-Serviced Mortgage Loan previously described
in sub-clauses (ii) through (vi) of this Section 2.03(c) shall be considered to materially and adversely affect
the value of such Mortgage Loan, the value of the related Mortgaged Property or the interests of the Trustee or Certificateholders
unless the related Mortgage Loan Seller, after receipt of notice of such Defect, is unable to produce a copy of the document with
respect to which the Defect exists within a reasonable period after receiving such notice or otherwise establish that the original
or copy, as applicable, of such document has been delivered, in compliance with the terms of the related Non-Serviced PSA,
to the custodian under the related Non-Serviced PSA. Notwithstanding the foregoing, the delivery of executed escrow instructions
or a binding commitment to issue a lender’s title insurance policy, as provided in clause (viii) of the definition
of “Mortgage File” herein, in lieu of the delivery of the actual policy of lender’s title insurance, shall not
be considered a Material Defect with respect to any Mortgage File if such actual policy is delivered to the Custodian not later
than eighteen (18) months following the Closing Date. Notwithstanding the foregoing, to the extent a Mortgage Loan Seller
has otherwise complied with its document delivery requirements under this Agreement and the related Mortgage Loan Purchase Agreement,
in the event that the Custodian has acknowledged receipt pursuant to Section 2.02 above of a document that is part of the
Mortgage File or a Mortgage Loan Seller can otherwise prove delivery of the document, and the Custodian subsequently loses a document,
the fact that such document is lost may not be utilized as the basis for a claim of a Material Defect against a Mortgage Loan
Seller pursuant to Section 5(a) of the related Mortgage Loan Purchase Agreement and/or this Section 2.03 and the Custodian
shall be liable for any such loss to the extent provided for in Section 8.01.

 

(d)              
In connection with any repurchase of, or substitution of a Qualified Substitute Mortgage Loan for a Mortgage Loan contemplated
by this Section 2.03, the Trustee, the Certificate Administrator, the Custodian, the Master Servicer and the Special Servicer
shall each tender to the applicable Mortgage Loan Seller, upon delivery to each of the Trustee, the

 

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Certificate
Administrator, the Custodian, the Master Servicer and the Special Servicer of a trust receipt executed by the applicable Mortgage
Loan Seller evidencing such repurchase or substitution, all portions of the Mortgage File and other documents pertaining to such
Mortgage Loan possessed by each of the Trustee, the Certificate Administrator, the Custodian, the Master Servicer and the Special
Servicer (other than attorney-client communications that are privileged communications), and each document that constitutes
a part of the Mortgage File that was endorsed or assigned to the Trustee shall be endorsed or assigned, as the case may be to
the applicable Mortgage Loan Seller in the same manner as provided in Section 5 of the related Mortgage Loan Purchase Agreement
and, if applicable, the definition of “Mortgage File” herein, so as to vest in such Mortgage Loan Seller the legal
and beneficial ownership of such repurchased or substituted Mortgage Loan (including property acquired in respect thereof and
proceeds of any insurance policy with respect thereto) and the related Mortgage Loan documents.

 

(e)             
Section 5 of each of the Mortgage Loan Purchase Agreements provides the sole remedy available to the Certificateholders (subject
to the limitations on the rights of the Certificateholders under this Agreement), or the Trustee on behalf of the Certificateholders,
the Master Servicer or the Special Servicer, with respect to any Material Defect; provided, however, that the foregoing
shall in no way limit the ability of the Master Servicer, the Special Servicer or the Trustee to take any action against BCHI,
to the extent provided for pursuant to the related Mortgage Loan Purchase Agreement, including, without limitation, pursuant to
Section 19 thereof.

 

(f)                
The Enforcing Servicer shall, for the benefit of the Certificateholders and the Trustee (as holder of the Lower-Tier Regular
Interests), enforce the obligations of the applicable Mortgage Loan Seller under the applicable Mortgage Loan Purchase Agreement.
Such enforcement, including, without limitation, the legal prosecution of claims, if any, shall be carried out in the best interest
of the Certificateholders in accordance with the Servicing Standard. Any costs incurred by the Master Servicer or the Special
Servicer with respect to the enforcement of the obligations of the applicable Mortgage Loan Seller under the applicable Mortgage
Loan Purchase Agreement shall, to the extent not recovered from the applicable Mortgage Loan Seller or the Requesting Certificateholder,
be deemed to be Servicing Advances to the extent not otherwise provided for herein. The Master Servicer or the Special Servicer,
as applicable, shall be reimbursed for the reasonable costs of such enforcement: first, from a specific recovery, if any,
of costs, expenses or attorneys’ fees against the applicable Mortgage Loan Seller; second, pursuant to Section
3.05(a)(vii) herein out of the related Purchase Price, to the extent that such expenses are a specific component thereof;
and third, if at the conclusion of such enforcement action it is determined that the amounts described in clauses first and second
are insufficient, then pursuant to Section 3.05(a)(viii) herein out of general collections on the Mortgage Loans
on deposit in the Collection Account. Any costs, expenses or attorneys’ fees related to a repurchase of a Companion Loan
shall be paid pursuant to the related Intercreditor Agreement or pursuant to the documents related to an Other Securitization,
if applicable.

 

(g)              
If a Mortgage Loan Seller incurs any expense in connection with the curing of a Breach that constitutes a Material Defect, which
also constitutes a default under the related Mortgage Loan and is reimbursable thereunder, such Mortgage Loan Seller shall have
a right, and shall be subrogated to the rights of the Trustee and the Trust under the Mortgage Loan to recover the amount of such
expenses from the related Mortgagor; provided, however, that such Mortgage Loan Seller’s rights pursuant to
this Section 2.03(g) shall be junior, subject and subordinate to the

 

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rights
of the Trustee, the Certificate Administrator, the Trust, the Master Servicer and the Special Servicer to recover amounts owed
by the related Mortgagor under the terms of such Mortgage Loan including, without limitation, the rights to recover unreimbursed
Advances, accrued and unpaid interest on Advances at the Reimbursement Rate, fees owed to the Master Servicer or the Special Servicer,
and unpaid or unreimbursed expenses of the Trustee, the Certificate Administrator, the Trust, the Master Servicer or the Special
Servicer allocable to such Mortgage Loan. The Enforcing Servicer shall use reasonable efforts to recover such expenses for such
Mortgage Loan Seller to the extent consistent with the Servicing Standard, but taking into account the subordinate nature of the
reimbursement to the related Mortgage Loan Seller; provided, however, that the Enforcing Servicer determines in
the exercise of its sole discretion consistent with the Servicing Standard that such actions by it will not impair the Enforcing
Servicer’s collection or recovery of principal, interest and other sums due with respect to the related Mortgage Loan that
would otherwise be payable to the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Certificateholders
pursuant to the terms of this Agreement; provided, further, that the Enforcing Servicer may waive the collection
of amounts due on behalf of such Mortgage Loan Seller in its sole discretion in accordance with the Servicing Standard.

 

(h)              
If (i) any Crossed Underlying Loan is required to be repurchased or substituted for in the manner described in this Section
2.03 and (ii) the applicable Material Defect does not constitute a Material Defect as to any other Crossed Underlying
Loan in the related Crossed Mortgage Loan Group (without regard to this paragraph), then the applicable Material Defect shall
be deemed to constitute a Material Defect as to any other Crossed Underlying Loan in the related Crossed Mortgage Loan Group for
purposes of this paragraph, and the related Mortgage Loan Seller shall repurchase or substitute for such other Crossed Underlying
Loan(s) in the related Crossed Mortgage Loan Group as provided in Section 2.03(b) unless such other Crossed Underlying
Loans satisfy the Crossed Underlying Loan Repurchase Criteria. In the event that the remaining Crossed Underlying Loans in such
Crossed Mortgage Loan Group satisfy the Crossed Underlying Loan Repurchase Criteria, the applicable Mortgage Loan Seller may elect
either to repurchase or substitute for only the affected Crossed Underlying Loan(s) as to which the related Material Defect exists
or to repurchase or substitute for all of the Crossed Underlying Loans in the related Crossed Mortgage Loan Group. Any reserve
or other cash collateral or letters of credit securing the Crossed Underlying Loans shall be allocated among the related Crossed
Underlying Loans in accordance with the related Mortgage Loan documents or otherwise on a pro rata basis based upon their
outstanding Stated Principal Balances. Except as provided in this Section 2.03(h) and Section 2.03(i), all other
terms of the related Mortgage Loans shall remain in full force and effect without any modification thereof.

 

(i)                
Notwithstanding the foregoing, if the related Mortgage provides for the partial release of one or more of the Crossed Underlying
Loans, the related Mortgage Loan Seller may repurchase only that Crossed Underlying Loan required to be repurchased pursuant to
this Section 2.03, pursuant to the partial release provisions of the related Mortgage; provided, however,
that (i) the remaining related Crossed Underlying Loan(s) fully comply with the terms and conditions of the related Mortgage,
this Agreement and the related Mortgage Loan Purchase Agreement, including the Crossed Underlying Loan Repurchase Criteria, (ii) in
connection with such partial release, the related Mortgage Loan Seller obtains an Opinion of Counsel (at such Mortgage Loan Seller’s
expense) to the effect that the contemplated action will not cause an Adverse REMIC Event and (iii) in connection with such
partial release, the related Mortgage Loan

 

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Seller
delivers or causes to be delivered to the Custodian original modifications to the Mortgage prepared and executed in connection
with such partial release.

 

(j)                
With respect to any Crossed Underlying Loan, to the extent that the applicable Mortgage Loan Seller is required or elects to repurchase
or substitute for such Crossed Underlying Loan in the manner prescribed in Section 2.03(h) or Section 2.03(i) while
the Trustee continues to hold any other Crossed Underlying Loans in the related Crossed Mortgage Loan Group, the applicable Mortgage
Loan Seller and the Enforcing Servicer, on behalf of the Trustee, as assignee of the Depositor, will, as set forth in the related
Mortgage Loan Purchase Agreement, forbear from enforcing any remedies against the other’s Primary Collateral but each will
be permitted to exercise remedies against the Primary Collateral securing its respective related Mortgage Loans, including with
respect to the Trustee, the Primary Collateral securing the Mortgage Loans still held by the Trustee, so long as such exercise
does not materially impair the ability of the other party to exercise its remedies against its Primary Collateral. If the exercise
of the remedies by one party would materially impair the ability of the other party to exercise its remedies with respect to the
Primary Collateral securing the Crossed Underlying Loans held by such party, then both parties have agreed in the related Mortgage
Loan Purchase Agreement to forbear from exercising such remedies until the Mortgage Loan documents evidencing and securing the
relevant Mortgage Loan can be modified in a manner that complies with the related Mortgage Loan Purchase Agreement to remove the
threat of material impairment as a result of the exercise of remedies.

 

(k)              
(i) In the event an Initial Requesting Certificateholder delivers a written request to a party to this Agreement that a Mortgage
Loan be repurchased by the applicable Mortgage Loan Seller alleging the existence of a Material Defect with respect to such Mortgage
Loan and setting forth the basis for such allegation (a “Certificateholder Repurchase Request”), such party
shall promptly forward that Certificateholder Repurchase Request to the Master Servicer and the Special Servicer. The Enforcing
Servicer shall then promptly forward the Certificateholder Repurchase Request to the related Mortgage Loan Seller and each other
party to this Agreement. Subject to Section 2.03(l), the Enforcing Servicer shall be the Enforcing Party with respect to
a Certificateholder Repurchase Request.

 

(ii)               
In the event that the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating
Advisor (solely in its capacity as operating advisor) or the Directing Certificateholder (other than any Loan-Specific Directing
Certificateholder that is a Mortgage Loan Seller or an Affiliate thereof) identifies a Material Defect with respect to a Mortgage
Loan (without implying any duty of such person to make, or to attempt to make, such a discovery), that party shall deliver prompt
written notice of such Material Defect to each other party to this Agreement and the related Mortgage Loan Seller identifying
the applicable Mortgage Loan and setting forth the basis for such allegation (a “PSA Party Repurchase Request”
and each of a Certificateholder Repurchase Request or a PSA Party Repurchase Request, the “Repurchase Request”).
The Enforcing Servicer shall act as the Enforcing Party and enforce the rights of the Trust against the related Mortgage Loan
Seller with respect to a PSA Party Repurchase Request.

 

(iii)              
In the event the Repurchase Request is not Resolved within 180 days after the Mortgage Loan Seller receives the Repurchase
Request (a “Resolution Failure”), then

 

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the
provisions described in Section 2.03(l) below shall apply. Receipt of the Repurchase Request shall be deemed to occur two
(2) Business Days after the Repurchase Request is sent to the related Mortgage Loan Seller. A Resolved Repurchase Request
shall not preclude the Enforcing Servicer from exercising any of its rights related to a Material Defect in the manner and timing
otherwise set forth in this Agreement, in the related Mortgage Loan Purchase Agreement or as provided by law.

 

(iv)           
Within two (2) Business Days after a Resolution Failure occurs with respect to a Repurchase Request made by any Person other than
the Special Servicer, the Directing Certificateholder or a Controlling Class Certificateholder relating to a Non-Specially Serviced
Loan, the Master Servicer shall send a written notice (a “Master Servicer Proposed Course of Action Notice”)
to the Special Servicer, indicating the Master Servicer’s analysis and recommended course of action with respect to such
Repurchase Request. The Master Servicer shall also deliver to the Special Servicer the Servicing File and all information, documents
and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Non-Specially
Serviced Loan and, if applicable, the related Serviced Companion Loan, either in the Master Servicer’s possession or otherwise
reasonably available to the Master Servicer, and reasonably requested by the Special Servicer to enable it to assume its duties
hereunder to the extent set forth in this Agreement for such Non-Specially Serviced Loan. Upon receipt of such Master Servicer
Proposed Course of Action Notice and such Servicing File and other material, the Special Servicer shall become the Enforcing Servicer
with respect to such Repurchase Request.

 

(l)                
(i) After a Resolution Failure occurs with respect to a Repurchase Request regarding a Mortgage Loan (whether the Repurchase Request
was initiated by an Initial Requesting Certificateholder, a party to this Agreement or the Directing Certificateholder), and if
applicable, after the Master Servicer sends the Master Servicer Proposed Course of Action Notice, the Enforcing Servicer shall
send a notice (a “Proposed Course of Action Notice”) to the Initial Requesting Certificateholder, if any, at
the address specified in the Initial Requesting Certificateholder’s Repurchase Request, and to the Certificate Administrator
(which shall be delivered via electronic mail to trustadministrationgroup@wellsfargo.com), indicating the Enforcing Servicer’s
intended course of action with respect to the Repurchase Request (a “Proposed Course of Action”). The Certificate
Administrator will be required to make the Proposed Course of Action Notice available to all other Certificateholders and Certificate
Owners by posting such notice on the Certificate Administrator’s Website. The Proposed Course of Action Notice shall include
(a) a request to Certificateholders to indicate to the Enforcing Servicer their agreement with or dissent from such Proposed
Course of Action, by clearly marking “agree” or “disagree” to the Proposed Course of Action on such notice
within thirty (30) days after the date of such notice and a disclaimer that responses received after such 30-day period
will not be taken into consideration, (b) a statement that if any Certificateholder disagrees with the Proposed Course of
Action, the Enforcing Servicer shall be compelled to follow (either as the Enforcing Party or as the Enforcing Servicer in circumstances
where a Certificateholder is acting as the Enforcing Party) the course of action agreed to and/or proposed by the majority of
the responding Certificateholders that involves referring the matter to mediation or arbitration, as the case may be, in accordance
with the procedures set forth below relating to the delivery of Preliminary Dispute Resolution Election Notices and Final Dispute
Resolution Election Notices (c) a statement that the responding

 

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Certificateholders
will be required to certify their holdings in connection with such response, (d) a statement that only responses clearly
marked “agree” or “disagree” with such Proposed Course of Action will be taken into consideration and
(e) instructions for the responding Certificateholders to send their responses to the Enforcing Servicer and the Certificate
Administrator. The Certificate Administrator shall, within fifteen (15) Business Days after the expiration of the 30-day
response period, tabulate the responses received from the Certificateholders and share the results with the Enforcing Servicer.
The Certificate Administrator shall only count responses timely received and clearly indicating agreement or dissent with the
related Proposed Course of Action and additional verbiage or qualifying language shall not be taken into consideration for purposes
of determining whether the related Certificateholder agrees or disagrees with the Proposed Course of Action. The Certificate Administrator
shall be under no obligation to answer any questions from the Certificateholders regarding such Proposed Course of Action. For
the avoidance of doubt, the Certificate Administrator’s obligations in connection with this Section 2.03(l) shall
be limited solely to tabulating the Certificateholders’ responses of “agree” or “disagree” to the
Proposed Course of Action, and such obligation shall not be construed to impose any enforcement obligation on the Certificate
Administrator. The Enforcing Servicer may conclusively rely (without investigation) on the Certificate Administrator’s tabulation
of the responses of the responding Certificateholders. If (a) the Enforcing Servicer’s intended course of action with
respect to the Repurchase Request does not involve pursuing further action to exercise rights against the related Mortgage Loan
Seller with respect to the Repurchase Request and the Initial Requesting Certificateholder, if any, or any other Certificateholder
or Certificate Owner wishes to exercise its right to refer the matter to mediation (including nonbinding arbitration) or arbitration,
or (b) the Enforcing Servicer’s intended course of action is to pursue further action to exercise rights against the
applicable Mortgage Loan Seller with respect to the Repurchase Request but the Initial Requesting Certificateholder, if any, or
any other Certificateholder or Certificate Owner does not agree with the dispute resolution method selected by the Enforcing Servicer,
then the Initial Requesting Certificateholder, if any, or such other Certificateholder or Certificate Owner may deliver to the
Enforcing Servicer a written notice (a “Preliminary Dispute Resolution Election Notice”) within 30 days
from the date the Proposed Course of Action Notice is posted on the Certificate Administrator’s Website (the “Dispute
Resolution Cut-off Date”) indicating its intent to exercise its right to refer the matter to either mediation (including
non-binding arbitration) or arbitration. In the event (a) the Enforcing Servicer’s initial Proposed Course of Action indicated
a recommendation to undertake mediation (including non-binding arbitration) or arbitration, (b) any Certificateholder or Certificate
Owner entitled to do so delivers a Preliminary Dispute Resolution Election Notice, and (c) the Enforcing Servicer has also received
responses from other Certificateholders or Certificate Owners supporting the Enforcing Servicer’s initial Proposed Course
of Action indicating a recommendation to undertake mediation (including non-binding arbitration) or arbitration, such additional
responses from other Certificateholders or Certificate Owners will also be considered Preliminary Dispute Resolution Election
Notices supporting such Proposed Course of Action for purposes of determining the course of action approved by the majority of
responding Certificateholders.

 

(ii)               
If neither the Initial Requesting Certificateholder, if any, nor any other Certificateholder or Certificate Owner entitled to
do so delivers a Preliminary Dispute Resolution Election Notice prior to the Dispute Resolution Cut-off Date, no Certificateholder
or Certificate Owner otherwise entitled to do so shall have the right to refer the Repurchase Request to mediation or arbitration,
and the Enforcing Servicer as the

 

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Enforcing
Party shall be the sole party entitled to determine a course of action, including, but not limited to, enforcing the Trust’s
rights against the related Mortgage Loan Seller, subject to any consent or consultation rights of the Directing Certificateholder
pursuant to Section 6.08.

 

(iii)              
Promptly and in any event within ten (10) Business Days following receipt of a Preliminary Dispute Resolution Election Notice
from (a) the Initial Requesting Certificateholder, if any, or (b) any other Certificateholder or Certificate Owner (each
of clauses (a) and (b), a “Requesting Certificateholder”), the Enforcing Servicer shall consult with each
Requesting Certificateholder regarding such Requesting Certificateholder’s intention to elect either mediation (including
nonbinding arbitration) or arbitration as the dispute resolution method with respect to the Repurchase Request (the “Dispute
Resolution Consultation”) so that such Requesting Certificateholder may consider the views of the Enforcing Servicer
as to the claims underlying the Repurchase Request and possible dispute resolution methods, such discussions to occur and be completed
no later than ten (10) Business Days following the Dispute Resolution Cut-off Date. The Enforcing Servicer shall be entitled
to establish procedures the Enforcing Servicer deems in good faith to be in accordance with the Servicing Standard relating to
the timing and extent of such consultations. No later than five (5) Business Days after completion of the Dispute Resolution
Consultation, a Requesting Certificateholder may provide a final notice to the Enforcing Servicer indicating its decision to exercise
its right to refer the matter to either mediation or arbitration (“Final Dispute Resolution Election Notice”).

 

(iv)             
If, following the Dispute Resolution Consultation, no Requesting Certificateholder timely delivers a Final Dispute Resolution
Election Notice to the Enforcing Servicer, then the Enforcing Servicer will continue to act as the Enforcing Party and will remain
obligated under this Agreement to determine a course of action including, but not limited to, enforcing the rights of the Trust
with respect to the Repurchase Request and no Certificateholder or Certificate Owner shall have any further right to elect to
refer the matter to mediation or arbitration.

 

(v)               
If a Requesting Certificateholder timely delivers a Final Dispute Resolution Election Notice to the Enforcing Servicer, then such
Requesting Certificateholder shall become the Enforcing Party and must promptly submit the matter to mediation (including nonbinding
arbitration) or arbitration. If there is more than one Requesting Certificateholder that timely deliver a Final Dispute Resolution
Election Notice, then such Requesting Certificateholders shall collectively become the Enforcing Party, and the holder or holders
of a majority of the Voting Rights among such Requesting Certificateholders shall be entitled to make all decisions relating to
such mediation or arbitration (including whether to refer the matter to mediation (including non-binding arbitration) or arbitration).
If, however, no Requesting Certificateholder commences arbitration or mediation pursuant to the terms of this Agreement within
thirty (30) days after delivery of its Final Dispute Resolution Election Notice to the Enforcing Servicer, then (i) the
rights of a Requesting Certificateholder to act as the Enforcing Party shall terminate and no Certificateholder or Certificate
Owner shall have any further right to elect to refer the matter to mediation or arbitration, (ii) if the Proposed Course
of Action Notice indicated that the Enforcing Servicer shall take no further action with respect to the

 

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Repurchase
Request, then the related Material Defect shall be deemed waived for all purposes under this Agreement and the related Mortgage
Loan Purchase Agreement; provided, however, that such Material Defect shall not be deemed waived with respect to
a Requesting Certificateholder, any other Certificateholder or Certificate Owner or the Enforcing Servicer to the extent there
is a material change in the facts and circumstances known to such party at the time when the Proposed Course of Action Notice
is delivered to the Enforcing Servicer, and (iii) if the Proposed Course of Action Notice had indicated a course of action
other than the course of action under clause (ii), then the Enforcing Servicer shall again become the Enforcing Party and,
as such, shall be the sole party entitled to enforce the Trust’s rights against the related Mortgage Loan Seller.

 

(vi)             
Notwithstanding the foregoing, the dispute resolution provisions described above under this Section 2.03(l) shall not apply,
and the Enforcing Servicer shall remain the Enforcing Party, if the Enforcing Servicer has commenced litigation with respect to
the Repurchase Request, or determines in accordance with the Servicing Standard that it is in the best interest of Certificateholders
to commence litigation with respect to the Repurchase Request to avoid the running of any applicable statute of limitations.

 

(vii)           
In the event a Requesting Certificateholder becomes the Enforcing Party, the Enforcing Servicer, on behalf of the Trust, shall
remain a party to any proceedings against the related Mortgage Loan Seller as further described herein.

 

(viii)          
For the avoidance of doubt, none of the Depositor, the Mortgage Loan Seller with respect to the subject Mortgage Loan or any of
their respective affiliates (other than the Special Servicer or a Controlling Class Certificateholder) shall be entitled to be
an Initial Requesting Certificateholder or a Requesting Certificateholder or to act as a Certificateholder for purposes of delivering
any Preliminary Dispute Resolution Election Notice or Final Dispute Resolution Election Notice or otherwise to vote Certificates
owned by it or such affiliate(s) with respect to a course of action proposed or undertaken pursuant to the procedures described
herein.

 

(ix)             
Subject to the other provisions of this Section 2.03(l), the Requesting Certificateholder is entitled to elect either mediation
or arbitration in its sole discretion; however, the Requesting Certificateholder shall not be entitled to then utilize the alternative
method in the event that the initial method is unsuccessful.

 

(m)            
If the Enforcing Party selects mediation (including nonbinding arbitration), the following provisions shall apply:

 

(i)                
The mediation shall be administered by a nationally recognized mediation services provider selected by the related Mortgage Loan
Seller within thirty (30) days of written notice of the Enforcing Party’s selection of mediation (such provider, the “Mediation
Services Provider”) in accordance with published mediation procedures (the “Mediation Rules”) promulgated
by the Mediation Services Provider.

 

(ii)               
The mediator shall be impartial, an attorney admitted to practice in the state of New York and have at least fifteen (15) years
of experience in commercial litigation,

 

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and
if possible, commercial real estate finance or commercial mortgage-backed securitization matters and who will be appointed
from a list of neutrals maintained by the Mediation Services Provider. Upon being supplied a list of at least ten potential qualified
mediators by the Mediation Services Provider each party will have the right to exercise two peremptory challenges within fourteen
(14) days and to rank the remaining potential mediators in order of preference. The Mediation Services Provider shall select
the mediator from the remaining attorneys on the list respecting the preference choices of the parties to the extent possible.

 

(iii)             
Prior to accepting an appointment, the mediator must promptly disclose any circumstances likely to create a reasonable inference
of bias or conflict of interest or likely to preclude completion of the hearings within the prescribed time schedule.

 

(iv)             
The parties shall use commercially reasonable efforts to conduct an organizational conference to begin the mediation within 10
Business Days of the selection of the mediator and to conclude the mediation within 60 days thereafter.

 

(v)               
The expenses of any mediation shall be allocated among the parties to the mediation including, if applicable, between the Enforcing
Party and the Enforcing Servicer, as mutually agreed by the parties as part of the mediation.

 

(vi)             
Out of pocket costs and expenses of the Enforcing Servicer for mediation or arbitration, to the extent not agreed to be paid by
the Enforcing Party or another party (in the case of mediation) or allocated to the Enforcing Party or another party (in the case
of arbitration) shall be reimbursable as a Servicing Advance.

 

(n)               
If the Enforcing Party selects third-party arbitration, the following provisions will apply:

 

(i)                 
The arbitration shall be administered by a nationally recognized arbitration services provider selected by the related Mortgage
Loan Seller within thirty (30) days of written notice of the Enforcing Party’s selection of arbitration (such provider,
the “Arbitration Services Provider”) in accordance with published arbitration procedures (the “Arbitration
Rules”) promulgated by the Arbitration Services Provider.

 

(ii)               
The arbitrator shall be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of
experience in commercial litigation, and if possible, commercial real estate finance or commercial mortgage-backed securitization
matters and who will be appointed from a list of neutrals maintained by the Arbitration Services Provider. Upon being supplied
a list of at least ten potential arbitrators by the Arbitration Services Provider each party will have the right to exercise two
peremptory challenges within 14 days and to rank the remaining potential arbitrators in order of preference. The Arbitration Services
Provider will select the arbitrator from the remaining attorneys on the list respecting the preference choices of the parties
to the extent possible.

 

(iii)             
Prior to accepting an appointment, the arbitrator must promptly disclose any circumstances likely to create a reasonable inference
of bias or conflict of interest or likely to preclude completion of the hearings within the prescribed time schedule.

 

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(iv)             
After consulting with the parties at an organizational conference held not later than 10 Business Days after its appointment,
the arbitrator shall devise procedures and deadlines for the arbitration, to the extent not already agreed to by the parties,
with the goal of expediting the proceeding and completing the arbitration within 120 days. The arbitrator shall have the
authority to schedule, hear, and determine any and all motions, including dispositive and discovery motions, in accordance with
the Federal Rules of Civil Procedure for non-jury matters (the “Rules”) (including summary judgment and
other prehearing and post hearing motions), and will do so by reasoned decision on the motion of any party to the arbitration.

 

(v)               
Notwithstanding whatever other discovery may be available under the Rules, unless otherwise agreed by the parties, each party
to the arbitration shall be presumptively limited to the following discovery in the arbitration: (A) the parties shall reasonably
and in good faith voluntarily produce to all other parties all documents upon which they intend to rely and all documents they
reasonably and in good faith believe to be relevant to the claims or defenses asserted by any of the parties, (B) party witness
depositions (excluding Rule 30b-6 witnesses), and (C) expert witness depositions, provided that the arbitrator
shall have the ability to grant the parties, or either of them, additional discovery to the extent that the arbitrator determines
good cause is shown that such additional discovery is reasonable and necessary.

 

(vi)             
The arbitrator shall make its final determination no later than 30 days after the conclusion of the hearings and submission
of any post-hearing submissions. The arbitrator shall resolve the dispute in accordance with the terms of the related Mortgage
Loan Purchase Agreement and this Agreement, and may not modify or change those agreements in any way or award remedies not consistent
with those agreements. The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration
conducted by them. Interest on any monetary award shall bear interest from the date of the Final Dispute Resolution Election Notice
at the Prime Rate. In its final determination, the arbitrator shall determine and award the costs of the arbitration (including
the fees of the arbitrator, cost of any record or transcript of the arbitration, and administrative fees) and shall award reasonable
attorneys’ fees to the parties to the arbitration as determined by the arbitrator in its reasonable discretion. The determination
of the arbitrator shall be by a reasoned decision in writing and counterpart copies will be promptly delivered to the parties.
The final determination of the arbitrator shall be final and non-appealable, except for actions to confirm or vacate the determination
permitted under federal or state law, and may be enforced in any court of competent jurisdiction.

 

(vii)            
By selecting arbitration, the selecting party is giving up the right to sue in court, including the right to a trial by jury.

 

(viii)          
No person may bring a putative or certificated class action to arbitration.

 

(o)              
The following provisions will apply to both mediation and third-party arbitration:

 

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(i)                
Any mediation or arbitration will be held in New York, New York unless another location is agreed by all parties;

 

(ii)               
If the dispute involves a matter that cannot effectively be remedied by the payment of damages, or if there be any dispute relating
to arbitration or the arbitrators that cannot be resolved promptly by the arbitrators or the Arbitration Services Provider, then
any party in such instance may during the pendency of the arbitration proceedings seek temporary equitable remedies, pending the
final decision of the arbitration panel, solely by application in the Southern District of New York if such court shall have subject
matter jurisdiction, or if the Southern District of New York has no jurisdiction, then the Supreme Court of the State of New York
for the County of New York. The arbitration proceedings shall not be stayed unless so ordered by the court.

 

(iii)               
The details and/or existence of any Repurchase Request, any informal meetings, mediations or arbitration proceedings conducted
under this Section 2.03, including all offers, promises, conduct and statements, whether oral or written, made in the course
of the parties’ attempt to informally resolve any Repurchase Request, will be confidential, privileged and inadmissible
for any purpose, including impeachment, in any mediation, arbitration or litigation, or other proceeding (including any proceeding
under this Section 2.03). Such information will be kept strictly confidential and shall not be disclosed or shared with
any third party (other than a party’s attorneys, experts, accountants and other agents and representatives, as reasonably
required in connection with any resolution procedure under this Section 2.03), except as otherwise required by law, regulatory
requirement or court order. If any party to a resolution procedure receives a subpoena or other request for information from a
third party (other than a governmental regulatory body) for such confidential information, the recipient shall promptly notify
the other party to the resolution procedure and shall provide the other party with a reasonable opportunity to object to the production
of its confidential information.

 

(iv)               
In the event a Requesting Certificateholder is the Enforcing Party, the agreement with the arbitrator or mediator, as the case
may be, shall be required to contain an acknowledgment that the Trust, or the Enforcing Servicer on its behalf, shall be a party
to any arbitration or mediation proceedings solely for the purpose of being the beneficiary of any award in favor of the Enforcing
Party; provided that the degree and extent to which the Enforcing Servicer actively prepares for and participates in such
proceeding shall be determined by such Enforcing Servicer in consultation with the Directing Certificateholder (provided that
a Consultation Termination Event has not occurred and is not continuing) and in accordance with the Servicing Standard. All amounts
recovered by the Enforcing Party shall be paid to the Trust, or the Enforcing Servicer on its behalf, and deposited in the Collection
Account. The agreement with the arbitrator or mediator, as the case may be, shall provide that in the event a Requesting Certificateholder
is allocated any related costs and expenses pursuant to the terms of the arbitrator’s decision or the agreement reached
in mediation, neither the Trust nor the Enforcing Servicer acting on its behalf shall be responsible for any such costs and expenses
allocated to the Requesting Certificateholder.

 

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(v)               
In the event a Requesting Certificateholder is the Enforcing Party, the Requesting Certificateholder is required to pay any expenses
allocated to the Enforcing Party in the arbitration proceedings or any expenses that the Enforcing Party agrees to bear in the
mediation proceedings.

 

(vi)             
The Trust (or the Trustee or the Enforcing Servicer, acting on its behalf), the Depositor or any Mortgage Loan Seller shall be
permitted to redact any personally identifiable customer information included in any information provided for purposes of any
mediation or arbitration. Each party to the proceedings shall be required to agree to keep confidential the details related to
the Repurchase Request and the dispute resolution identified in connection with such procedures; provided, however,
that (A) the Certificateholders shall be permitted to communicate prior to the commencement of any such proceedings to the
extent provided in Section 5.06 and (B) the Enforcing Servicer shall be permitted to include such information in any
15Ga-1 Notice as it is required pursuant to Section 2.02(g).

 

(vii)            
For the avoidance of doubt, in no event shall the exercise of any right of a Requesting Certificateholder to refer a Repurchase
Request to mediation or arbitration or participation in such mediation or arbitration affect in any manner the ability of the
Enforcing Servicer to perform its obligations with respect to a Mortgage Loan (including without limitation, a liquidation, foreclosure,
negotiation of a loan modification or workout, acceptance of a discounted pay-off or deed-in-lieu, or bankruptcy or
other litigation) or the exercise of any rights of a Directing Certificateholder.

 

(viii)           
In the event that the method of dispute resolution selected is unsuccessful, the Requesting Certificateholder may not elect to
then utilize the alternative method.

 

(ix)             
Any out-of-pocket expenses required to be borne by or allocated to the Enforcing Servicer in a mediation or arbitration
or related responsibilities under this Agreement shall be reimbursable as Trust Fund expenses.

 

Section
2.04        Execution of Certificates; Issuance of Lower-Tier Regular Interests.
The Trustee hereby acknowledges the assignment to it of the Mortgage Loans and, subject to Section 2.01 and Section
2.02, the delivery to the Custodian of the Mortgage Files and a fully executed original counterpart of each of the Mortgage
Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Lower-Tier REMIC.
Concurrently with such assignment and delivery, (i) in exchange for the Mortgage Loans and the other assets comprising the
Lower-Tier REMIC, receipt of which is hereby acknowledged, the Trustee acknowledges the issuance of the Lower-Tier Regular
Interests and the Class LR Interest to the Depositor; (ii) [RESERVED]; (iii) the Trustee acknowledges the contribution
by the Depositor of the Lower-Tier Regular Interests to the Upper-Tier REMIC; and (iv) immediately thereafter, in
exchange for the Lower-Tier Regular Interests, the Trustee acknowledges that it has caused the Certificate Administrator to
issue the Class UR Interest and has caused the Certificate Registrar to execute and caused the Authenticating Agent to authenticate
and to deliver to or upon the order of the Depositor, the Regular Certificates and the Class R Certificates, and the Depositor
hereby acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations

 

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and
such Certificates evidencing the entire beneficial ownership of the Upper-Tier REMIC (and in the case of the Class R Certificates,
the Class LR Interest and the Class UR Interest).

 

Section
2.05        [RESERVED.][End of Article II]

 

ARTICLE
III

ADMINISTRATION AND SERVICING OF THE TRUST FUND

 

Section
3.01        Administration of the Mortgage Loans, the Serviced Companion Loans, and REO
Properties. (a) Each of the Master Servicer and the Special Servicer shall diligently service and administer the Mortgage
Loans (other than any Non-Serviced Mortgage Loan), any Serviced Companion Loans and the REO Properties (other than any REO
Property related to a Non-Serviced Mortgage Loan) it is obligated (as provided below) to service in accordance with applicable
law, this Agreement and the Mortgage Loan documents and, in the case of a Serviced Whole Loan, the related Intercreditor Agreement
on behalf of the Trust and in the best interests of and for the benefit of the Certificateholders and, in the case of the Serviced
Companion Loans, the Companion Holders and the Trustee (as holder of the Lower-Tier Regular Interests), as a collective whole,
taking into account the subordinate or pari passu nature of such Companion Loans (as determined by the Master Servicer
or the Special Servicer, as the case may be, in its reasonable judgment), in accordance with applicable law, the terms of this
Agreement (and, with respect to each Serviced Whole Loan or any Mortgage Loan with related mezzanine debt, the related Intercreditor
Agreement) and the terms of the respective Mortgage Loans and, if applicable, the related Companion Loan, taking into account
the subordinate or pari passu nature of the Companion Loan. With respect to each Serviced Whole Loan, in the event of a
conflict between this Agreement and the related Intercreditor Agreement, the related Intercreditor Agreement shall control; provided
that in no event shall the Master Servicer or the Special Servicer, as the case may be, take any action or omit to take any
action in accordance with the terms of any Intercreditor Agreement that would cause the Master Servicer or the Special Servicer,
as the case may be, to violate the Servicing Standard or the REMIC Provisions. To the extent consistent with the foregoing, the
Master Servicer and the Special Servicer shall service the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and the
related Serviced Companion Loans in accordance with the higher of the following standards of care: (1) in the same manner
in which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the
case may be, services and administers similar mortgage loans for other third party portfolios and (2) the same care, skill,
prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and administers similar
mortgage loans owned by the Master Servicer or the Special Servicer, as the case may be, with a view to the (A) the timely
recovery of all payments of principal and interest under the Mortgage Loans or Serviced Whole Loans or (B) in the case of
a Specially Serviced Loan or an REO Property, maximization of recovery of principal and interest on a net present value basis
on such Mortgage Loans and any related Serviced Companion Loans, and the best interests of the Trust and the Certificateholders
(as a collective whole as if such Certificateholders constituted a single lender) (and in the case of any Whole Loan, the best
interests of the Trust, the Certificateholders and any related Companion Holder (as a collective whole as if such Certificateholders
and the holder or holders of the related Companion Loan constituted a single lender), taking into account

 

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the
subordinate or pari passu nature, as applicable, of the related Companion Loan), as determined by the Master Servicer or
the Special Servicer, as the case may be, in its reasonable judgment, in either case giving due consideration to the customary
and usual standards of practice of prudent institutional commercial, multifamily and manufactured housing community mortgage loan
servicers, but without regard to any conflict of interest arising from: (i) any relationship that the Master Servicer, the
Special Servicer or any Affiliate of the Master Servicer or the Special Servicer may have with any Mortgagor, any Mortgage Loan
Seller, any other parties to this Agreement, any Sponsor, any originator of a Mortgage Loan or any Affiliate of any of the foregoing;
(ii) the ownership of any Certificate, Companion Loan, mezzanine loan, or subordinate debt relating to a Mortgage Loan by
the Master Servicer, the Special Servicer or any Affiliate of the Master Servicer or the Special Servicer, as applicable; (iii) the
obligation, if any, of the Master Servicer to make Advances; (iv) the right of the Master Servicer or the Special Servicer,
as the case may be, or any of its Affiliates to receive compensation for its services and reimbursement for its costs hereunder
or with respect to any particular transaction; (v) the ownership, servicing or management for others of (a) a Non-Serviced
Mortgage Loan and a Non-Serviced Companion Loan or (b) any other mortgage loans, subordinate debt, mezzanine loans or properties
not covered by this Agreement or held by the Trust by the Master Servicer or the Special Servicer, as the case may be, or any
of its Affiliates; (vi) any debt that the Master Servicer or the Special Servicer, as the case may be, or any of its Affiliates,
has extended to any Mortgagor or an Affiliate of any Mortgagor (including, without limitation, any mezzanine financing); (vii) any
option to purchase any Mortgage Loan or the related Companion Loan the Master Servicer or the Special Servicer, as the case may
be, or any of its Affiliates, may have; and (viii) any obligation of the Master Servicer or the Special Servicer, or any
of their respective Affiliates, to repurchase or substitute for a Mortgage Loan as a Mortgage Loan Seller (if the Master Servicer
or the Special Servicer or any of their respective Affiliates is a Mortgage Loan Seller) (the foregoing, collectively referred
to as the “Servicing Standard”).

 

The
Master Servicer and the Special Servicer shall act in accordance with the Servicing Standard with respect to any action required
to be taken regarding the Non-Serviced Mortgage Loans pursuant to their obligations under this Agreement.

 

Without
limiting the foregoing, subject to Section 3.19, the Special Servicer shall be obligated to service and administer (i) any
Mortgage Loans (other than the Non-Serviced Mortgage Loans) and any related Serviced Companion Loans as to which a Servicing
Transfer Event has occurred and is continuing (each, a “Specially Serviced Loan”) or as otherwise provided
herein with respect to Non-Specially Serviced Loans in connection with any Major Decision and (ii) any REO Properties (other
than the Non-Serviced Mortgaged Properties); provided that the Master Servicer shall continue to receive payments and make
all calculations, and prepare, or cause to be prepared, all reports, required hereunder with respect to the Specially Serviced
Loans, except for the reports specified herein as prepared by the Special Servicer, as if no Servicing Transfer Event had occurred
and with respect to the REO Properties (and the related REO Loans) as if no REO Acquisition had occurred, and to render such services
with respect to such Specially Serviced Loans and REO Properties as are specifically provided for herein; provided, further,
however, that the Master Servicer shall not be liable for failure to comply with such duties insofar as such failure results
from a failure of the Special Servicer to provide sufficient information to the Master Servicer to comply with such duties or
failure by the Special Servicer to otherwise comply with its obligations hereunder. The Master Servicer, in its capacity as the
Master Servicer, shall not

 

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have
any responsibility for the performance by the Special Servicer, in its capacity as the Special Servicer, of its duties under this
Agreement. The Special Servicer, in its capacity as the Special Servicer, shall not have any responsibility for the performance
by the Master Servicer, in its capacity as the Master Servicer, of its duties under this Agreement. Each Mortgage Loan or any
related Serviced Companion Loan that becomes a Specially Serviced Loan shall continue as such until satisfaction of the conditions
specified in Section 3.19(a). Without limiting the foregoing, subject to Section 3.19 and in accordance with the
terms of this Agreement, the Master Servicer shall be obligated to service and administer any Non-Specially Serviced Loan and
any related Serviced Companion Loan. The Special Servicer shall make the property inspections, use its reasonable efforts to collect
the financial statements, budgets, operating statements and rent rolls and forward to the Master Servicer the reports in respect
of the related Mortgaged Properties with respect to Specially Serviced Loans in accordance with Section 3.12. After notification
to the Master Servicer, the Special Servicer may contact the Mortgagor of any Non-Specially Serviced Loan if efforts by the Master
Servicer to collect required financial information have been unsuccessful or any other issues remain unresolved. Such contact
shall be coordinated through and with the cooperation of the Master Servicer. No provision herein contained shall be construed
as an express or implied guarantee by the Master Servicer or the Special Servicer of the collectability or recoverability of payments
on the Mortgage Loans or any related Serviced Companion Loan or be construed to impair or adversely affect any rights or benefits
provided by this Agreement to the Master Servicer or the Special Servicer (including with respect to Servicing Fees, Special Servicing
Fees or the right to be reimbursed for Advances and interest accrued thereon). Any provision in this Agreement for any Advance
by the Master Servicer or the Trustee is intended solely to provide liquidity for the benefit of the Certificateholders and not
as credit support or otherwise to impose on any such Person the risk of loss with respect to one or more of the Mortgage Loans
or any related Serviced Companion Loans. No provision hereof shall be construed to impose liability on the Master Servicer or
the Special Servicer for the reason that any recovery to the Certificateholders in respect of a Mortgage Loan at any time after
a determination of present value recovery is less than the amount reflected in such determination.

 

(b)              
Subject only to the Servicing Standard and the terms of this Agreement (including, without limitation, Section 6.08) and
of the respective Mortgage Loans, any related Serviced Companion Loans and any related Intercreditor Agreement, if applicable,
and applicable law, each of the Master Servicer and the Special Servicer shall have full power and authority, acting alone or,
subject to Section 3.20, through one or more Sub-Servicers, to do or cause to be done any and all things in connection
with such servicing and administration for which it is responsible which it may deem necessary or desirable. Without limiting
the generality of the foregoing, each of the Master Servicer and the Special Servicer, in its own name (or in the name of the
Trustee and, if applicable, the related Serviced Companion Noteholder), is hereby authorized and empowered by the Trustee to execute
and deliver, on behalf of the Certificateholders (and, with respect to a Serviced Companion Loan, the related Serviced Companion
Noteholder) and the Trustee or any of them, with respect to each Mortgage Loan and any related Serviced Companion Loan (and, if
applicable, each REO Property) it is obligated to service under this Agreement: (i) any and all financing statements, continuation
statements and other documents or instruments necessary to maintain the lien created by the related Mortgage or other security
document in the related Mortgage File on the related Mortgaged Property and related collateral, and shall, from time to time,
execute and/or deliver such financing statements, continuation statements and other documents or instruments as necessary to maintain
the lien created by the related Mortgage or

 

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other
security document in the related Mortgage File on the related Mortgaged Property and related collateral; (ii) subject to
Section 3.08, Section 3.18 and Section 6.08, any and all modifications, waivers, amendments or consents to,
under or with respect to any documents contained in the related Mortgage File; (iii) any and all instruments of satisfaction
or cancellation, pledge agreements and other documents in connection with a defeasance, or of partial or full release or discharge,
and all other comparable instruments; and (iv) any or all complaints or other pleadings to initiate and/or to terminate any
action, suit or proceeding on behalf of the Trust (in their representative capacities (except as set forth below in this paragraph).
The Master Servicer (with respect to Non-Specially Serviced Loans) and the Special Servicer (with respect to Specially Serviced
Loans) shall provide to the Mortgagor related to such Mortgage Loans that it is servicing any reports required to be provided
to them pursuant to the related Mortgage Loan documents. Subject to Section 3.10, the Trustee shall (i) on the Closing
Date, furnish to the Master Servicer and the Special Servicer original powers of attorney in the form of Exhibit R-1
or Exhibit R-2 attached hereto, as applicable (or such other form as mutually agreed to by the Trustee and
the Master Servicer or the Special Servicer, as applicable) and (ii) upon request, furnish, or cause to be furnished, to
the Master Servicer or the Special Servicer any powers of attorney substantially in the form of Exhibit R-1 or
Exhibit R-2 attached hereto, as applicable (or such other form as mutually agreed to by the Trustee and the Master
Servicer or the Special Servicer, as applicable) and other documents necessary or appropriate to enable the Master Servicer or
the Special Servicer, as the case may be, to carry out its servicing and administrative duties hereunder; provided, however,
that the Trustee shall not be held responsible or liable for any acts of the Master Servicer or the Special Servicer, or for any
negligence with respect to, or misuse of, any such power of attorney by the Master Servicer or the Special Servicer. Notwithstanding
anything contained herein to the contrary, the Master Servicer or the Special Servicer, as the case may be, shall not, without
the Trustee’s written consent: (i) initiate any action, suit or proceeding solely under the Trustee’s name without
indicating the Master Servicer’s or the Special Servicer’s, as the case may be, representative capacity (unless prohibited
by any requirement of the applicable jurisdiction in which any such action, suit or proceeding is brought and if so prohibited,
in the manner required by such jurisdiction (provided that the Master Servicer or the Special Servicer, as applicable,
shall then provide five (5) Business Days’ written notice to the Trustee of the initiation of such action, suit or
proceeding (or such shorter time period as is reasonably required in the judgment of the Master Servicer or the Special Servicer,
as applicable, made in accordance with the Servicing Standard) prior to filing such action, suit or proceeding), and shall not
be required to obtain the Trustee’s consent or indicate the Master Servicer’s or the Special Servicer’s, as
applicable, representative capacity)) or (ii) take any action with the intent to cause, and that actually causes, the Trustee
to be required to be registered to do business in any state.

 

(c)               
To the extent the Master Servicer is permitted pursuant to the terms of the related Mortgage Loan documents or Companion Loan
documents (including any related Intercreditor Agreement) to exercise its discretion with respect to any action that requires
Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating agencies that such action will
not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced Companion Loan Securities
(if any) (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25), the Master Servicer
shall require the costs of such Rating Agency Confirmation to be borne by the related Mortgagor. To the extent the terms of the
related Mortgage Loan documents or Companion

 

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Loan
documents (including any related Intercreditor Agreement) require the Mortgagor to bear the costs of any Rating Agency Confirmation
or confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25), the Master Servicer shall not waive the requirement that such
costs and expenses be borne by the related Mortgagor. To the extent that the terms of the related Mortgage Loan documents or Companion
Loan documents (including any related Intercreditor Agreement) are silent as to who bears the costs of any Rating Agency Confirmation
or confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25), the Master Servicer shall use reasonable efforts to have the
Mortgagor bear such costs and expenses. The Master Servicer shall not be responsible for the payment of such costs and expenses
out of pocket other than as a Servicing Advance.

 

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

 

(e)               
The Master Servicer shall, to the extent permitted by the related Mortgage Loan documents or any related Companion Loan documents,
and consistent with the Servicing Standard, permit Escrow Payments to be invested only in Permitted Investments.

 

(f)               
Within sixty (60) days (or such shorter time period as is required by the terms of the applicable Mortgage Loan documents)
after the later of (i) the receipt thereof by the Master Servicer and (ii) the Closing Date, (x) the applicable
Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement shall notify each provider of a letter of credit for each
Mortgage Loan (other than any Non-Serviced Mortgage Loan) identified as having a letter of credit on the Mortgage Loan Schedule,
that the Master Servicer (in care of the Trustee, as titled in Section 2.01(b)) for the benefit of the Certificateholders
and any related Companion Holders shall be the beneficiary under each such letter of credit and (y) the Master Servicer shall
notify each lessor under a Ground Lease for each Mortgage Loan identified as subject to a leasehold interest on the Mortgage Loan
Schedule, that the Trust is the leasehold mortgagee and that the Master Servicer or the Special Servicer shall service the related
Mortgage Loan for the benefit of the Certificateholders. If a letter of credit is required to be drawn upon earlier than the date
the applicable Mortgage Loan Seller has notified the provider of such letter of credit pursuant to clause (x) of the immediately
preceding sentence, such Mortgage Loan Seller shall cooperate with the reasonable requests of the Master Servicer or the Special
Servicer in connection with making a draw under such letter of credit. If the Mortgage Loan documents do not require the related
Mortgagor to pay any costs and expenses relating to any modifications to or assignment of the related letter of credit, then the
applicable Mortgage Loan Seller shall pay such costs and expenses as and to the extent required under the applicable Mortgage
Loan Purchase Agreement. If the Mortgage Loan documents require the related Mortgagor to pay any costs and expenses relating to
any modifications to the related letter of credit, and such Mortgagor fails to pay such costs and

 

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expenses
after the Master Servicer has exercised reasonable efforts to collect such costs and expenses from such Mortgagor, then the Master
Servicer shall give the applicable Mortgage Loan Seller notice of such failure and the amount of costs and expenses, and such
Mortgage Loan Seller shall pay such costs and expenses as and to the extent required under the applicable Mortgage Loan Purchase
Agreement. The costs and expenses of any modifications to Ground Leases shall be paid by the related Mortgagor. Neither the Master
Servicer nor the Special Servicer shall have any liability for the failure of any Mortgage Loan Seller to perform its obligations
under the related Mortgage Loan Purchase Agreement.

 

(g)              
Notwithstanding anything herein to the contrary, in no event shall the Master Servicer (or the Trustee, as applicable) make an
Advance with respect to any Companion Loan to the extent the related Serviced Mortgage Loan has been paid in full or is no longer
included in the Trust Fund.

 

(h)              
Servicing and administration of each Serviced Companion Loan shall continue hereunder and in accordance with the related Intercreditor
Agreement for so long as the corresponding Serviced Mortgage Loan or any related REO Property is part of the Trust Fund or for
such longer period as is contemplated by the related Intercreditor Agreement and, to the extent consistent with the related Intercreditor
Agreement, as any amounts payable by the related Companion Holder to or for the benefit of the Trust or any party hereto in accordance
with the related Intercreditor Agreement remain due and owing.

 

(i)                 
The Special Servicer agrees that upon the occurrence of a Servicing Transfer Event with respect to any Mortgage Loan or Serviced
Whole Loan that is subject to or becomes subject to an Intercreditor Agreement in the future, it shall, subject to Section
3.19, use commercially reasonable efforts to enforce, on behalf of the Trust, subject to the Servicing Standard and to the
extent the Special Servicer determines such action is in the best interests of the Trust, all rights conveyed to the Trustee pursuant
to any such Intercreditor Agreement. The costs and expenses incurred by the Special Servicer in connection with such enforcement
shall be paid as a Trust Fund expense or, subject to the terms of the applicable Intercreditor Agreement, with respect to any
Serviced Whole Loan, first, by any related AB Subordinate Companion Loan and then, pro rata and pari passu,
by the Trust and any related Serviced Pari Passu Companion Loans, in accordance with the respective Stated Principal Balances
of the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loans.

 

(j)                
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that, to the extent required under the
related Intercreditor Agreement, the servicing and administration of a Serviced Whole Loan shall continue hereunder (but not with
respect to making Advances) even if the related Serviced Mortgage Loan is no longer part of the Trust Fund, until such time as
a separate servicing agreement is entered into in accordance with the related Intercreditor Agreement (it being acknowledged that
neither the Master Servicer nor the Special Servicer shall be obligated under a separate agreement to which it is not a party);
provided that, other than pursuant to Section 6.04 (and, with respect to Section 6.04, solely with respect
to claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities,
fees and expenses (including, without limitation, costs and expenses of litigation and of enforcement of such indemnity, and of
investigation, counsel fees, damages, judgments and amounts paid in settlement) incurred in connection with a legal

 

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claim
or action resulting from an action or inaction taken or not taken while the related Serviced Mortgage Loan was part of the Trust
Fund), no costs, expenses, losses or fees accruing with respect to such Serviced Whole Loan on and after the date the related
Serviced Mortgage Loan is no longer part of the Trust Fund shall be payable out of the Trust Fund and the Master Servicer shall
have no obligation to make any Advance on or after the date such Serviced Mortgage Loan ceases to be part of the Trust Fund; provided,
however, that if, in the case of any Serviced Pari Passu Whole Loan, the related Serviced Companion Loan continues to be
included in an Other Securitization, then for so long as a separate servicing agreement (pursuant to the related Intercreditor
Agreement) has not been entered into, the Master Servicer shall inform the related Other Servicer of any need to make Servicing
Advances with respect to a Serviced Whole Loan within three (3) Business Days of determining that such an Advance is necessary
or being notified that such an Advance is necessary, or in the case of a Servicing Advance that needs to be made on an emergency
or urgent basis, within one (1) Business Day. With respect to Servicing Advances made by any Other Servicer as contemplated in
the second proviso to the preceding sentence, the Master Servicer shall, from collections on the related Serviced Whole Loan (but
never out of general collections on the Mortgage Loans and REO Properties) received by the Master Servicer, reimburse the Other
Servicer for such Servicing Advances in the same manner and on the same level of priority as if such Servicing Advances had been
made by the Master Servicer hereunder.

 

(k)              
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and
the Special Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s
authority with respect to a Non-Serviced Mortgage Loan are limited by and subject to the terms of the related Non-Serviced Intercreditor
Agreement and the rights of the related Non-Serviced Master Servicer and Non-Serviced Special Servicer with respect thereto under
the related Non-Serviced PSA. The Master Servicer (or, with respect to any Specially Serviced Loan, the Special Servicer) shall
use reasonable efforts consistent with the Servicing Standards to enforce the rights of the Trustee (as holder of a Non-Serviced
Mortgage Loan) under the related Non-Serviced Intercreditor Agreement and Non-Serviced PSA. In the event of any conflict between
this Agreement and the related Intercreditor Agreement, the provisions of the related Intercreditor Agreement shall control.

 

(l)                
The parties hereto acknowledge that each Non-Serviced Mortgage Loan is subject to the terms and conditions of the related Non-Serviced
Intercreditor Agreement and further acknowledge that, pursuant to the related Non-Serviced Intercreditor Agreement, (i) the related
Non-Serviced Mortgage Loan is to be serviced and administered by the related Non-Serviced Master Servicer and Non-Serviced Special
Servicer in accordance with the related Non-Serviced PSA, and (ii) in the event that (A) the related Non-Serviced Companion Loan
is no longer part of the Trust Fund created by the related Non-Serviced PSA and (B) the related Non-Serviced Mortgage Loan is
included in the Trust Fund, then, as set forth in the related Non-Serviced Intercreditor Agreement, the related Non-Serviced Whole
Loan shall continue to be serviced in accordance with the related Non-Serviced PSA, until such time as a new servicing agreement
has been agreed to by the parties to the related Non-Serviced Intercreditor Agreement in accordance with the provisions of such
agreement and confirmation has been obtained from the Rating Agencies that such new servicing agreement would not result in a
downgrade, qualification or withdrawal of the then current ratings of any Class of Certificates then outstanding.

 

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(m)            
Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and
the Special Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s
authority with respect to a Serviced Whole Loan are limited by, and subject to, the terms of the related Intercreditor Agreement.
The Master Servicer (or, if a Serviced Whole Loan becomes a Specially Serviced Loan, the Special Servicer) shall use reasonable
efforts consistent with the Servicing Standard to obtain the benefits of the rights of the Trust (as holder of the related Serviced
Mortgage Loan) under the related Intercreditor Agreement. In the event of any conflict between this Agreement and the related
Intercreditor Agreement, the provisions of the related Intercreditor Agreement shall control.

 

(n)              
In connection with the securitization of any Serviced Companion Loan (in each case, only while it is a Serviced Companion Loan),
upon the request of (and at the expense of) a related Serviced Companion Noteholder (or its designee), each of the Master Servicer
(if such Serviced Companion Loan is not a Specially Serviced Loan), the Special Servicer (if such Serviced Companion Loan is a
Specially Serviced Loan) and the Trustee, as applicable, shall use reasonable efforts to cooperate with such Serviced Companion
Noteholder in attempting to cause the related Mortgagor to provide information relating to such Whole Loan and the related notes,
and that such holder reasonably determines to be necessary or appropriate, for inclusion in any disclosure document(s) relating
to such Other Securitization.

 

(o)              
For the avoidance of doubt, none of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee have
any obligation or authority to (a) supervise any related Non-Serviced Master Servicer, Non-Serviced Special Servicer,
Non-Serviced Certificate Administrator or Non-Serviced Trustee or (b) make Servicing Advances with respect to any
Non-Serviced Whole Loan. The obligation of the Master Servicer to provide information and collections and make P&I Advances
to the Certificate Administrator for the benefit of the Certificateholders with respect to each Non-Serviced Mortgage Loan
is dependent on its receipt of the corresponding information and/or collections from the applicable Non-Serviced Master Servicer
or Non-Serviced Special Servicer.

 

(p)              
Nothing contained in this Agreement shall limit the ability of the Master Servicer or the Special Servicer to lend money to (to
the extent not secured, in whole or in part, by any Mortgaged Property), accept deposits from or otherwise generally engage in
any kind of business or dealings with any Mortgagor as though the Master Servicer or the Special Servicer was not a party to this
Agreement or to the transactions contemplated hereby; provided that this sentence shall not be construed to modify or supersede
the Servicing Standard.

 

Section
3.02        Collection of Mortgage Loan Payments. (a) Each of the Master Servicer and
the Special Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage
Loans (other than the Non-Serviced Mortgage Loans) and the Serviced Companion Loans it is obligated to service hereunder, and
shall follow such collection procedures as are consistent with this Agreement (including, without limitation, the Servicing Standard);
provided that the Master Servicer or the Special Servicer, as the case may be, may take action to enforce the Trust’s
right to apply excess cash flow to principal in accordance with the terms of the Mortgage Loan documents. The Master Servicer
or the Special Servicer, as applicable, may in its discretion waive any Penalty Charge in connection with any delinquent

 

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payment on
a Mortgage Loan or Serviced Companion Loan that it is obligated to service hereunder three (3) times during any period of
twenty-four (24) consecutive months with respect to any Mortgage Loan or Serviced Companion Loan; provided that the
Master Servicer or the Special Servicer, as applicable, may in its discretion waive any Penalty Charge in connection with any
delinquent payment on a Mortgage Loan or Serviced Companion Loan one additional time in such 24-month period so long
as with respect to any of the foregoing waivers, no Advance or additional expense of the Trust has been incurred and remains unreimbursed
to the Trust with respect to such Mortgage Loan or Serviced Companion Loan. Any additional waivers during such 24-month period
with respect to such Mortgage Loan may be made, subject to the Servicing Standard, only after the Master Servicer or the Special
Servicer, as the case may be, has, prior to the occurrence and continuance of a Consultation Termination Event, given notice of
a proposed waiver to the Directing Certificateholder and, prior to the occurrence and continuance of a Control Termination Event,
the Directing Certificateholder has consented to such additional waiver (provided that if the Master Servicer or the Special
Servicer, as applicable, fails to receive a response to such notice from the Directing Certificateholder in writing within five
(5) days of giving such notice, then the Directing Certificateholder shall be deemed to have consented to such proposed waiver);
provided, further, that after the occurrence and during the continuance of a Control Termination Event, the Master
Servicer or the Special Servicer, as the case may be, may waive any Penalty Charge in accordance with the Servicing Standard without
the consent of the Directing Certificateholder; provided, further, that the Directing Certificateholder shall have
no consent or consultation rights with respect to the foregoing waivers in relation to any Excluded Loan.

 

(b)              
(i) All amounts collected by or on behalf of the Trust in respect of a Mortgage Loan shall be applied to amounts due and owing
under the Mortgage Loan documents (including for principal and accrued and unpaid interest) in accordance with the express provisions
of the Mortgage Loan documents (including any related Intercreditor Agreement); provided, however, that absent express
provisions in the related Mortgage Loan documents (including any related Intercreditor Agreement) or to the extent otherwise agreed
to by the related Mortgagor in connection with a workout of a Mortgage Loan, all amounts collected by or on behalf of the Trust
in respect of a Mortgage Loan in the form of payments from the related Mortgagor, Liquidation Proceeds or Insurance and Condemnation
Proceeds under the Mortgage Loan (in the case of each Serviced Whole Loan, exclusive of amounts payable to any applicable Companion
Loan pursuant to the terms of the related Intercreditor Agreement) shall be applied in the following order of priority:

 

first,
as a recovery of any unreimbursed Advances (including any Workout-Delayed Reimbursement Amount) with respect to such Mortgage
Loan and unpaid interest at the Reimbursement Rate on such Advances and, if applicable, unreimbursed and unpaid additional trust
fund expenses;

 

second,
as a recovery of Nonrecoverable Advances and any interest on those Nonrecoverable Advances at the Reimbursement Rate, to the extent
previously paid or reimbursed from principal collections on such Mortgage Loan (as described in the first proviso in the definition
of Principal Distribution Amount);

 

third,
to the extent not previously so allocated pursuant to clause first or second above, as a recovery of accrued and unpaid interest
on such Mortgage Loan to the extent

 

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of
the excess of (i) accrued and unpaid interest (exclusive of default interest) on such Mortgage Loan at the related Mortgage
Rate in effect from time to time through the end of the applicable mortgage interest accrual period, over (ii) after taking
into account any allocations pursuant to clause fifth below on earlier dates, the aggregate portion of the accrued and unpaid
interest described in sub-clause (i) of this clause third that either (A) was not advanced because of the reductions
(if any) in the amount of related P&I Advances for such Mortgage Loan that have occurred in connection with related Appraisal
Reduction Amounts or (B) accrued at the related Net Mortgage Rate on the portion of the Stated Principal Balance of such
Mortgage Loan equal to any related Collateral Deficiency Amount in effect from time to time and as to which no P&I Advance
was made;

 

fourth,
to the extent not previously so allocated pursuant to clause first or second above, as a recovery of principal of such Mortgage
Loan then due and owing, including by reason of acceleration of such Mortgage Loan following a default thereunder (or, if the
Mortgage Loan has been liquidated, as a recovery of principal to the extent of its entire remaining unpaid principal balance);

 

fifth,
as a recovery of accrued and unpaid interest on such Mortgage Loan to the extent of the sum of (A) the cumulative amount
of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan that have occurred in connection with
related Appraisal Reduction Amounts, and (B) any unpaid interest (exclusive of default interest) that accrued at the related
Net Mortgage Rate on the portion of the Stated Principal Balance of such Mortgage Loan equal to any related Collateral Deficiency
Amount in effect from time to time and as to which no P&I Advance was made (in each case, to the extent collections have not
been allocated as recovery of such accrued and unpaid interest pursuant to this clause fifth on earlier dates);

 

sixth,
as a recovery of amounts to be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes,
assessments and insurance premiums and similar items relating to such Mortgage Loan;

 

seventh,
as a recovery of any other reserves to the extent then required to be held in escrow with respect to such Mortgage Loan;

 

eighth,
as a recovery of any Yield Maintenance Charge or Prepayment Premium then due and owing under such Mortgage Loan;

 

ninth,
as a recovery of any late payment charges and default interest then due and owing under such Mortgage Loan;

 

tenth,
as a recovery of any assumption fees and Modification Fees then due and owing under such Mortgage Loan;

 

eleventh,
as a recovery of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both
consent fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated to
Operating Advisor Consulting Fees); and

 

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twelfth,
as a recovery of any remaining principal of such Mortgage Loan to the extent of its entire remaining unpaid principal balance;

 

provided
that to the extent required under the REMIC Provisions, payments or proceeds received (or receivable by exercise of the lender’s
rights under the related Mortgage Loan documents) with respect to any partial release of a Mortgaged Property (including in connection
with a condemnation) at a time when the loan-to-value ratio of the related Mortgage Loan or Serviced Whole Loan, as applicable,
exceeds 125%, or would exceed 125% following any partial release (based solely on the value of real property and excluding personal
property and going concern value, if any, unless otherwise permitted under the applicable REMIC Provisions as evidenced by an
Opinion of Counsel to the Trustee) must be collected and allocated to reduce the principal balance of the Mortgage Loan or Serviced
Whole Loan in the manner required by the REMIC Provisions; provided, further, that if a Non-Serviced Mortgage
Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole Loan become REO Loans, the treatment
of the foregoing amounts with respect to such Non-Serviced Whole Loan shall be subject to the terms of the related Non-Serviced
Intercreditor Agreement and Non-Serviced PSA, in that order; provided, further, that with respect to each Mortgage
Loan related to a Serviced Whole Loan, amounts collected with respect to the related Serviced Whole Loan shall be allocated first
pursuant to the terms of the related Intercreditor Agreement and then, any amounts allocated to the related Serviced Mortgage
Loan shall be subject to application as described above.

 

(ii)               
Collections by or on behalf of the Trust in respect of any REO Property (exclusive of the amounts to be allocated to the payment
of the costs of operating, managing, leasing, maintaining and disposing of such REO Property and, if applicable, in the case of
each Serviced Whole Loan, exclusive of any amounts payable to the holder of the related Companion Loan(s), as applicable, pursuant
to the related Intercreditor Agreement) shall be applied in the following order of priority:

 

first,
as a recovery of any unreimbursed Advances (including any Workout-Delayed Reimbursement Amount) with respect to the related
Mortgage Loan and interest at the Reimbursement Rate on all Advances and, if applicable, unreimbursed and unpaid additional trust
fund expenses with respect to such Mortgage Loan;

 

second,
as a recovery of Nonrecoverable Advances and any interest on those Nonrecoverable Advances at the Reimbursement Rate, to the extent
previously paid or reimbursed from principal collections on the Mortgage Loans (as described in the first proviso in the definition
of Principal Distribution Amount);

 

third,
to the extent not previously so allocated pursuant to clause first or second above, as a recovery of accrued and unpaid interest
on such Mortgage Loan to the extent of the excess of (i)  accrued and unpaid interest (exclusive of default interest) on
such Mortgage Loan at the related Mortgage Rate in effect from time to time through the end of the applicable mortgage interest
accrual period, over (ii) after taking into account any allocations pursuant to clause fifth below or clause fifth of the
prior paragraph on earlier dates, the aggregate portion of the accrued and unpaid interest described in sub-clause (i)
of this clause third that either (A) was not advanced because of the reductions (if any) in the amount of related P&I
Advances for such Mortgage Loan that have occurred in

 

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connection
with related Appraisal Reduction Amounts or (B) accrued at the related Net Mortgage Rate on the portion of the Stated Principal
Balance of such Mortgage Loan equal to any related Collateral Deficiency Amount in effect from time to time and as to which no
P&I Advance was made;

 

fourth,
to the extent not previously so allocated pursuant to clause first or second above, as a recovery of principal of such Mortgage
Loan to the extent of its entire unpaid principal balance;

 

fifth,
as a recovery of accrued and unpaid interest on such Mortgage Loan to the extent of the sum of (A) the cumulative amount
of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan that have occurred in connection with
related Appraisal Reduction Amounts and (B) any unpaid interest (exclusive of default interest) that accrued at the related
Net Mortgage Rate on the portion of the Stated Principal Balance of such Mortgage Loan equal to any related Collateral Deficiency
Amount in effect from time to time and as to which no P&I Advance was made (in each case, to the extent collections have not
been allocated as recovery of accrued and unpaid interest pursuant to this clause fifth or clause fifth of the prior paragraph
on earlier dates);

 

sixth,
as a recovery of any Yield Maintenance Charge or Prepayment Premium then due and owing under such Mortgage Loan;

 

seventh,
as a recovery of any late payment charges and default interest then due and owing under such Mortgage Loan;

 

eighth,
as a recovery of any assumption fees and Modification Fees then due and owing under such Mortgage Loan; and

 

ninth,
as a recovery of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both
consent fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated to
Operating Advisor Consulting Fees);

 

provided
that if a Non-Serviced Mortgage Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole
Loan becomes an REO Loan, the treatment of the foregoing amounts with respect to such Non-Serviced Whole Loan shall be subject
to the terms of the related Non-Serviced Intercreditor Agreement and Non-Serviced PSA, in that order; provided,
further, that with respect to each Mortgage Loan related to a Serviced Whole Loan, amounts collected with respect to the
related Serviced Whole Loan shall be allocated first pursuant to the terms of the related Intercreditor Agreement and then, any
amounts allocated to the related Serviced Mortgage Loan shall be subject to application as described above.

 

(iii)              
Notwithstanding clauses (i) and (ii) above, such provisions shall not be deemed to affect the priority of distributions
of payments pursuant to the provisions of this Agreement. To the extent that such amounts are paid by a party other than a Mortgagor,
such amounts shall be deemed to have been paid in respect of a purchase of all or part of the Mortgaged Property (in the case
of Insurance and Condemnation Proceeds or

 

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Liquidation
Proceeds) and then paid by the Mortgagor under the Mortgage Loan or Companion Loan, as applicable, or in accordance with Section
3.02(b)(ii) above.

 

(c)               
To the extent consistent with the terms of the Mortgage Loans (and, with respect to each Serviced Whole Loan, the related Serviced
Companion Loan, as applicable, and the related Intercreditor Agreement) and applicable law, the Master Servicer shall apply all
Insurance and Condemnation Proceeds it receives on a day other than the Due Date to amounts due and owing under the related Mortgage
Loan or Companion Loan as if such Insurance and Condemnation Proceeds were received on the Due Date immediately succeeding the
month in which Insurance and Condemnation Proceeds were received and otherwise in accordance with Section 3.02(b)(ii) above.

 

(d)              
[RESERVED].

 

(e)               
With respect to any Mortgage Loan or any Serviced Pari Passu Companion Loan for which the related Mortgagor was required to escrow
funds or to post a letter of credit related to obtaining certain performance objectives, such as targeted debt service coverage
levels or leasing criteria with respect to the Mortgaged Property as a whole or particular portions thereof, if the mortgagee
has the discretion under the applicable Mortgage Loan documents to retain the cash or letter of credit (or the proceeds of such
letters of credit) as additional collateral if the relevant conditions to release are not satisfied, then the Master Servicer
may continue to hold such escrows or letters of credit (or the proceeds of such letters of credit) as additional collateral or
use such funds to reduce the principal balance of the related Mortgage Loan or Serviced Pari Passu Companion Loan (to the extent
the related Mortgage Loan documents allow such action), unless holding or application of such funds would otherwise be inconsistent
with the Mortgage Loan documents or the Servicing Standard.

 

(f)               
Promptly following the Closing Date, in the case of any Non-Serviced Whole Loan and, with respect to the Servicing Shift Mortgage
Loan, promptly following receipt of notice in connection with the Servicing Shift Date, the Certificate Administrator shall send
written notice (in the form attached hereto as Exhibit T) to the related Non-Serviced Master Servicer and the
related Non-Serviced Special Servicer (with a copy to any other applicable party set forth on the schedule of addresses to
Exhibit T) stating that, as of such date, the Trustee is the holder of the related Non-Serviced Mortgage Loan
and directing such Non-Serviced Master Servicer to remit to the Master Servicer all amounts payable to, and to forward, deliver
or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and
other information that are to be forwarded, delivered or otherwise made available to, the holder of such Non-Serviced Mortgage
Loan under the related Non-Serviced Intercreditor Agreement and the related Non-Serviced PSA. The Master Servicer shall,
within two (2) Business Days of receipt of properly identified funds, deposit into the Collection Account all amounts received
with respect to the related Non-Serviced Mortgage Loan, the related Non-Serviced Mortgaged Property or any related REO
Property.

 

Section
3.03        Collection of Taxes, Assessments and Similar Items; Servicing Accounts.
(a) The Master Servicer shall establish and maintain one or more accounts (the “Servicing Accounts”), into
which all Escrow Payments received by it shall be deposited and retained, and shall administer such Servicing Accounts in accordance
with the related Mortgage

 

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Loan
documents and, if applicable, the Companion Loan documents. Any Servicing Account related to a Serviced Whole Loan shall be held
for the benefit of the Certificateholders and the related Serviced Companion Noteholders collectively, but this shall not be construed
to modify the respective interests of any noteholder therein as set forth in the related Intercreditor Agreement. Amounts on deposit
in Servicing Accounts may only be invested in accordance with the terms of the related Mortgage Loan documents and Companion Loan
documents, or in Permitted Investments in accordance with the provisions of Section 3.06. Servicing Accounts shall be Eligible
Accounts to the extent permitted by the terms of the related Mortgage Loan documents. Withdrawals of amounts so deposited from
a Servicing Account may be made only to: (i) effect payment of items for which Escrow Payments were collected and comparable
items; (ii) reimburse the Trustee and then the Master Servicer, if applicable, for any Servicing Advances; (iii) refund
to Mortgagors any sums as may be determined to be overages; (iv) pay interest to Mortgagors on balances in the Servicing
Account, if required by applicable law or the terms of the related Mortgage Loan or Companion Loan and as described below or,
if not so required, to the Master Servicer; (v) after the occurrence of an event of default under the related Mortgage Loan
or Companion Loan, apply amounts to the indebtedness under the applicable Mortgage Loan or Companion Loan; (vi) withdraw
amounts deposited in error; (vii) pay Penalty Charges to the extent permitted by the related Mortgage Loan documents; or
(viii) clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01.
As part of its servicing duties, the Master Servicer shall pay or cause to be paid to the related Mortgagors interest on funds
in Servicing Accounts, to the extent required by law or the terms of the related Mortgage Loan or Companion Loan; provided,
however, that in no event shall the Master Servicer be required to remit to any Mortgagor any amounts in excess of actual
net investment income or funds in the related Servicing Account. If allowed by the related Mortgage Loan documents and applicable
law, the Master Servicer may charge the related Mortgagor an administrative fee for maintenance of the Servicing Accounts.

 

(b)              
The Special Servicer, in the case of REO Loans (other than any REO Loan succeeding a Non-Serviced Mortgage Loan), and the Master
Servicer, in the case of all other related Mortgage Loans (other than a Non-Serviced Mortgage Loan) and each related Serviced
Companion Loan, shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of real
estate taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and
any ground rents payable in respect thereof. The Special Servicer, in the case of REO Loans (other than any REO Loan succeeding
a Non-Serviced Mortgage Loan), and the Master Servicer, in the case of all other related Mortgage Loans (other than a Non-Serviced
Mortgage Loan) and each related Serviced Companion Loan, shall use reasonable efforts consistent with the Servicing Standard to
obtain, from time to time, all bills for the payment of such items (including renewal premiums) and shall effect payment thereof
from the REO Account or by the Master Servicer as Servicing Advances prior to the applicable penalty or termination date and,
in any event, prior to the institution of foreclosure or similar proceedings with respect to the related Mortgaged Property for
nonpayment of such items, employing for such purpose Escrow Payments (which shall be so applied by the Master Servicer at the
written direction of the Special Servicer in the case of REO Loans) as allowed under the terms of the related Mortgage Loan (other
than a Non-Serviced Mortgage Loan) and Companion Loan. Other than with respect to any Non-Serviced Mortgage Loan, the Master Servicer
shall service and administer any reserve accounts (including monitoring, maintaining or changing the amounts of required escrows)
in accordance with the terms of such Mortgage Loan and the related

 

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Serviced
Companion Loan, as applicable, and the Servicing Standard. To the extent that a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) and any related Companion Loan, as applicable, does not require a Mortgagor to escrow for the payment of real estate taxes,
assessments, insurance premiums, ground rents (if applicable) and similar items, the Special Servicer, in the case of REO Loans,
and the Master Servicer, in the case of all other such Mortgage Loans or Companion Loan, as applicable, that it is responsible
for servicing hereunder, shall use reasonable efforts consistent with the Servicing Standard to cause the Mortgagor to comply
with its obligation to make payments in respect of such items at the time they first become due and, in any event, prior to the
institution of foreclosure or similar proceedings with respect to the related Mortgaged Property for nonpayment of such items.

 

(c)               
In accordance with the Servicing Standard and for each Mortgage Loan (other than any Non-Serviced Mortgage Loans) and each Serviced
Whole Loan, as applicable, the Master Servicer shall advance all such funds as are necessary for the purpose of effecting the
payment of (i) real estate taxes, assessments and other similar items that are or may become a lien thereon, (ii) ground
rents (if applicable) and (iii) premiums on Insurance Policies, in each instance if and to the extent Escrow Payments collected
from the related Mortgagor (or related REO Revenues, if applicable) are insufficient to pay such item when due and the related
Mortgagor has failed to pay such item on a timely basis, and provided, however, that the particular advance would
not, if made, constitute a Nonrecoverable Servicing Advance and provided, further, however, that with respect
to the payment of taxes and assessments, the Master Servicer shall not be required to make such advance until the later of (i) five
(5) Business Days after the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case
may be, has received confirmation that such item has not been paid and (ii) the date prior to the date after which any penalty
or interest would accrue in respect of such taxes or assessments. The Special Servicer shall give the Master Servicer and the
Trustee no less than five (5) Business Days’ written (facsimile or electronic) notice before the date on which the
Master Servicer is requested to make any Servicing Advance with respect to a given Specially Serviced Loan or REO Property; provided,
however, that only two (2) Business Days’ written (facsimile or electronic) notice shall be required in respect
of Servicing Advances required to be made on an emergency or urgent basis provided, further, that the Special Servicer
shall not be entitled to make such a request (other than for Servicing Advances required to be made on an urgent or emergency
basis) more frequently than once per calendar month (although such request may relate to more than one Servicing Advance). The
Master Servicer may pay the aggregate amount of such Servicing Advances listed on a monthly request to the Special Servicer, in
which case the Special Servicer shall remit such Servicing Advances to the ultimate payees. The Special Servicer shall have no
obligation to make any Servicing Advances; provided that in an urgent or emergency situation requiring the making of a
Servicing Advance, the Special Servicer may make a Servicing Advance in its sole discretion. The Special Servicer shall deliver
to the Master Servicer a request for reimbursement for such Servicing Advance, along with all information and documentation in
the Special Servicer’s possession regarding the subject Servicing Advance as the Master Servicer may reasonably request,
and the Master Servicer shall be obligated, out of the Master Servicer’s own funds, to reimburse the Special Servicer for
any unreimbursed Servicing Advances (other than Nonrecoverable Servicing Advances) made by the Special Servicer pursuant to the
terms hereof), together with interest thereon at the Reimbursement Rate from the date made to, but not including, the date of
reimbursement. Such reimbursement and any accompanying payment of interest shall be made within five (5) Business Days of
the written request therefor pursuant to the preceding

 

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sentence
by wire transfer of immediately available funds to an account designated in writing by the Special Servicer. Upon the Master Servicer’s
reimbursement to the Special Servicer of any Servicing Advance and payment to the Special Servicer of interest thereon, all in
accordance with this Section 3.03, the Master Servicer shall for all purposes of this Agreement be deemed to have made
such Servicing Advance at the same time as the Special Servicer actually made such Servicing Advance, and accordingly, the Master
Servicer shall be entitled to be reimbursed for such Servicing Advance, together with interest thereon at the Reimbursement Rate,
at the same time, in the same manner and to the same extent as the Master Servicer would otherwise have been entitled if it had
actually made such Servicing Advance at the time the Special Servicer did. Notwithstanding the foregoing provisions of this Section
3.03(c), the Master Servicer shall not be required to reimburse the Special Servicer out of its own funds for, or to make
at the direction of the Special Servicer, any Servicing Advance if the Master Servicer determines in its reasonable judgment that
such Servicing Advance, although not characterized by the Special Servicer as a Nonrecoverable Servicing Advance, is in fact a
Nonrecoverable Servicing Advance. The Master Servicer shall notify the Special Servicer in writing of such determination and,
if applicable, such Nonrecoverable Servicing Advance shall instead be reimbursed to the Special Servicer pursuant to Section
3.05 of this Agreement.

 

Any
request by the Special Servicer that the Master Servicer make a Servicing Advance shall be deemed to be a determination by the
Special Servicer that such requested Servicing Advance is not a Nonrecoverable Servicing Advance, and the Master Servicer shall
be entitled to conclusively rely on such determination, provided that the determination shall not be binding on the Master
Servicer or Trustee. On the first Business Day after the Determination Date for the related Distribution Date, the Special Servicer
shall report to the Master Servicer if the Special Servicer determines any Servicing Advance previously made by the Master Servicer
with respect to a Specially Serviced Loan or REO Loan is a Nonrecoverable Servicing Advance. The Master Servicer shall be entitled
to conclusively rely on such a determination, but such determination shall not be binding upon the Master Servicer, and shall
in no way limit the ability of the Master Servicer in the absence of such determination to make its own determination that any
Advance is a Nonrecoverable Advance. If the Special Servicer makes a determination that only a portion of, and not all of, any
previously made or proposed Servicing Advance is a Nonrecoverable Advance, the Master Servicer shall have the right to make its
own subsequent determination that any remaining portion of any such previously made or proposed Servicing Advance is a Nonrecoverable
Advance. If the Master Servicer, the Special Servicer or the Trustee determines that a proposed Servicing Advance with respect
to a Serviced Whole Loan, if made, or any outstanding Servicing Advance with respect to a Serviced Whole Loan previously made,
would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or the Trustee, as applicable, shall provide the
applicable Other Servicer written notice of such determination within two (2) Business Days of the date of such determination.
All such Advances shall be reimbursable in the first instance from related collections from the Mortgagors and further as provided
in Section 3.05(a). No costs incurred by the Master Servicer or the Special Servicer in effecting the payment of real estate
taxes, assessments and, if applicable, ground rents on or in respect of the Mortgaged Properties shall, for purposes hereof, including,
without limitation, the Certificate Administrator’s calculation of monthly distributions to Certificateholders, be added
to the unpaid principal balances of the related Mortgage Loans or any related Serviced Companion Loan, if applicable, notwithstanding
that the terms of such Mortgage Loans or related Serviced Companion Loan, if applicable, so permit. If the Master Servicer fails
to make any required Servicing Advance as and

 

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when
due (including any applicable cure periods), to the extent the Trustee has actual knowledge of such failure, the Trustee shall
make such Servicing Advance pursuant to Section 7.05. Notwithstanding anything herein to the contrary, no Servicing Advance
shall be required hereunder if such Servicing Advance would, if made, constitute a Nonrecoverable Servicing Advance. In addition,
the Master Servicer shall consider Unliquidated Advances in respect of prior Servicing Advances for purposes of nonrecoverability
determinations. The Special Servicer shall have no obligation to make any Servicing Advances under this Agreement.

 

Notwithstanding
anything to the contrary contained in this Section 3.03(c), the Master Servicer may in its good faith judgment elect (but
shall not be required unless directed by the Special Servicer with respect to Specially Serviced Loans and REO Loans) to make
a payment from amounts on deposit in the Collection Account (or any Companion Distribution Account maintained as a subaccount
thereof by a Companion Paying Agent, if applicable) (which shall be deemed first made from amounts distributable as principal
and then from all other amounts comprising general collections) to pay for certain expenses set forth below notwithstanding that
the Master Servicer (or the Special Servicer, as the case may be) has determined that a Servicing Advance with respect to such
expenditure would be a Nonrecoverable Servicing Advance (unless, with respect to Specially Serviced Loans or REO Loans, the Special
Servicer has notified the Master Servicer to not make such expenditure), where making such expenditure would prevent (i) the
related Mortgaged Property from being uninsured or being sold at a tax sale or (ii) any event that would cause a loss of
the priority of the lien of the related Mortgage, or the loss of any security for the related Mortgage Loan or Serviced Companion
Loan; provided that in each instance, the Master Servicer or the Special Servicer, as the case may be, determines in accordance
with the Servicing Standard (as evidenced by an Officer’s Certificate delivered to the Trustee) that making such expenditure
is in the best interest of the Certificateholders (and, if applicable, the Companion Holders), all as a collective whole (taking
into account the subordinate or pari passu nature of any Companion Loans). The Master Servicer or the Trustee may elect
to obtain reimbursement of Nonrecoverable Servicing Advances from the Trust pursuant to the terms of Section 3.17(c). The
parties acknowledge that pursuant to the applicable Non-Serviced PSA, the applicable Non-Serviced Master Servicer is obligated
to make servicing advances with respect to the related Non-Serviced Whole Loan. The applicable Non-Serviced Master Servicer shall
be entitled to reimbursement for nonrecoverable servicing advances with respect to such Non-Serviced Whole Loan (with, in each
case, any accrued and unpaid interest thereon provided for under the applicable Non-Serviced PSA) in the manner set forth in the
applicable Non-Serviced PSA and the applicable Non-Serviced Intercreditor Agreement.

 

(d)              
In connection with its recovery of any Servicing Advance out of the Collection Account (or any Companion Distribution Account
maintained as a subaccount thereof by the Companion Paying Agent, if applicable) pursuant to Section 3.05(a), the Trustee,
the Special Servicer and then the Master Servicer, as the case may be and in that order, shall be entitled to receive, out of
any amounts then on deposit in the Collection Account interest at the Reimbursement Rate in effect from time to time, accrued
on the amount of such Servicing Advance from the date made to, but not including, the date of reimbursement. Subject to Section
3.17(c), the Master Servicer shall reimburse itself, the Special Servicer or the Trustee, as the case may be, for any outstanding
Servicing Advance as soon as practically possible after funds available for such purpose are deposited in the Collection Account
(or any Companion Distribution Account maintained as a subaccount thereof by the Companion Paying Agent, if applicable) subject
to the

 

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Master
Servicer’s or the Trustee’s options and rights to defer recovery of such amounts as provided herein; provided,
however, that the Master Servicer’s or Trustee’s options and rights to defer recovery of such amounts shall
not alter the Master Servicer’s obligation to reimburse the Special Servicer for any outstanding Servicing Advance as provided
for in this sentence. To the extent amounts on deposit in the Companion Distribution Account with respect to the related Companion
Loan are insufficient for any such reimbursement, the Master Servicer shall use efforts in accordance with the Servicing Standard
to enforce the rights of the holder of the related Mortgage Loan under the related Intercreditor Agreement to obtain any reimbursement
available from the holder of the related Companion Loan.

 

(e)               
To the extent an operations and maintenance plan is required to be established and executed pursuant to the terms of a Mortgage
Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall request from the Mortgagor written confirmation thereof
within a reasonable time after the later of the Closing Date and the date as of which plan is required to be established or completed.
To the extent that any repairs, capital improvements, actions or remediations are required to have been taken or completed pursuant
to the terms of the Mortgage Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall request from the Mortgagor
written confirmation of such actions and remediations within a reasonable time after the later of the Closing Date and the date
as of which action or remediations are required to be or to have been taken or completed. To the extent a Mortgagor shall fail
to promptly respond to any inquiry described in this Section 3.03(e), the Master Servicer shall report any such failure
to the Special Servicer within a reasonable time after the date as of which actions or remediations are required to be or to have
been taken or completed.

 

Section
3.04        The Collection Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier
REMIC Distribution Account, the Companion Distribution Account, the Interest Reserve Account and the Gain-on-Sale Reserve
Account. (a) The Master Servicer shall establish and maintain, or cause to be established and maintained, the Collection Account
in which the Master Servicer shall deposit or cause to be deposited on a daily basis and in no event later than the second Business
Day following receipt of available and properly identified funds (in the case of payments by Mortgagors or other collections on
the Mortgage Loans or Companion Loans), except as otherwise specifically provided herein, the following payments and collections
received or made by or on behalf of it subsequent to the Cut-off Date (other than in respect of principal and interest on
the Mortgage Loans or Companion Loans due and payable on or before the Cut-off Date, which payments shall be delivered promptly
to the appropriate Mortgage Loan Seller or its respective designee and other than any amounts received from Mortgagors which are
received in connection with the purchase of defeasance collateral), or payments (other than Principal Prepayments) received by
it on or prior to the Cut-off Date but allocable to a period subsequent thereto:

 

(i)                
all payments on account of principal, including Principal Prepayments on the Mortgage Loans or principal prepayments on Serviced
Companion Loans;

 

(ii)               
all payments on account of interest on the Mortgage Loans or the Serviced Companion Loans, including Prepayment Premiums, Yield
Maintenance Charges and Default Interest;

 

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(iii)              
late payment charges and other Penalty Charges to the extent required to offset interest on Advances and additional expenses of
the Trust (other than Special Servicing Fees, Workout Fees or Liquidation Fees) as required by Section 3.11(d);

 

(iv)             
all Insurance and Condemnation Proceeds and Liquidation Proceeds (other than Gain-on-Sale Proceeds or Non-Serviced
Gain-on-Sale Proceeds) received in respect of any Mortgage Loan, Serviced Companion Loan or REO Property (other than (A) Liquidation
Proceeds that are received in connection with the purchase by the Master Servicer, the Special Servicer, the Holders of the majority
of the Controlling Class, or the Holders of the Class R Certificates of all the Mortgage Loans and any REO Properties in the Trust
Fund and that are to be deposited in the Lower-Tier REMIC Distribution Account pursuant to Section 9.01 and (B) any
proceeds that are received in connection with the purchase, if any, of a Serviced Pari Passu Companion Loan from a securitization
by the related mortgage loan seller, which shall be paid directly to the servicer of such securitization) together with any recovery
of Unliquidated Advances in respect of the related Mortgage Loans;

 

(v)               
any amounts required to be transferred from the applicable REO Account pursuant to Section 3.14(c);

 

(vi)            
any amounts required to be deposited by the Master Servicer pursuant to Section 3.06 in connection with losses incurred
with respect to Permitted Investments of funds held in the Collection Account; and

 

(vii)           
any amounts required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.07(b) in connection
with losses resulting from a deductible clause in a blanket hazard or master single interest policy.

 

Notwithstanding
the foregoing requirements, the Master Servicer need not deposit into the Collection Account any amount that the Master Servicer
would be authorized to withdraw immediately from such account in accordance with the terms of Section 3.05 and shall be
entitled to instead immediately pay such amount directly to the Person(s) entitled thereto; provided that such amounts
shall be applied in accordance with the terms hereof and shall be reported as if deposited in the Collection Account and then
withdrawn.

 

The
foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without
limiting the generality of the foregoing, actual payments from Mortgagors in the nature of Escrow Payments, charges for beneficiary
statements or demands, assumption fees, modification fees, extension fees, defeasance fees, amounts collected for Mortgagor checks
returned for insufficient funds or other amounts the Master Servicer or the Special Servicer would be entitled to retain as additional
servicing compensation need not be deposited by the Master Servicer in the Collection Account. If the Master Servicer shall deposit
in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection
Account, any provision herein to the contrary notwithstanding. Assumption, extension and modification fees actually received from
Mortgagors on Specially Serviced Loans shall be promptly delivered to the Special Servicer as additional servicing compensation.

 

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Upon
receipt of any of the foregoing amounts in clauses (i) through (iv) above with respect to any Specially Serviced Loans, the
Special Servicer shall remit within one (1) Business Day such amounts to the Master Servicer for deposit into the Collection
Account, in accordance with this Section 3.04(a). Any such amounts received by the Special Servicer with respect to an
REO Property shall be deposited by the Special Servicer into the REO Account and remitted to the Master Servicer for deposit into
the Collection Account, pursuant to Section 3.14(c). With respect to any such amounts paid by check to the order of the
Special Servicer, the Special Servicer shall endorse without recourse or warranty such check to the order of the Master Servicer
and shall promptly deliver any such check to the Master Servicer by overnight courier. Funds in the Collection Account may only
be invested in Permitted Investments in accordance with the provisions of Section 3.06. As of the Closing Date, the Collection
Account shall be located at the offices of Midland Loan Services, a Division of PNC Bank, National Association. The Master Servicer
shall give written notice to the Trustee, the Special Servicer, the Certificate Administrator and the Depositor of the new location
of the Collection Account prior to any change thereof.

 

(b)              
The Certificate Administrator, on behalf of the Trustee, shall establish and maintain (i) the Lower-Tier REMIC Distribution
Account, the Interest Reserve Account, and the Gain-on-Sale Reserve Account in trust for the benefit of the Certificateholders,
and (ii) the Upper-Tier REMIC Distribution Account in trust for the benefit of the Certificateholders. The Master Servicer
shall deliver to the Certificate Administrator each month on or before the P&I Advance Date therein, for deposit in the Lower-Tier
REMIC Distribution Account, that portion of the Available Funds attributable to the Mortgage Loans (in each case calculated without
regard to clauses (a)(iii)(B), (a)(iv), (c) and (d) of the definition of Available Funds) for the related Distribution Date.

 

With
respect to each Companion Loan (excluding any Non-Serviced Companion Loan), the Companion Paying Agent shall establish and
maintain the Companion Distribution Account, which may be a subaccount of the Collection Account, for distributions to each Companion
Holder. Funds in the Companion Distribution Account shall be held for the benefit of the related Companion Holder. The Companion
Paying Agent shall separately track for each Serviced Companion Loan all amounts deposited in the Companion Distribution Account
with respect to such Serviced Companion Loan.

 

On
each Serviced Whole Loan Remittance Date, (1) first, the Master Servicer shall withdraw from the Collection Account
(or applicable portion thereof) an aggregate amount equal to all payments and/or collections actually received on, and payable
in respect of, the applicable Serviced Companion Loan prior to such date and deposit such amount in the Companion Distribution
Account; provided, however, that in no event shall the Master Servicer be required to transfer to the Companion
Distribution Account any portion thereof that is payable or reimbursable to or at the direction of any party to this Agreement
under the other provisions of this Agreement and/or the related Intercreditor Agreement; and (2) then, the Companion
Paying Agent shall make the payments and remittance described in Section 4.01(k). With respect to any Serviced Whole Loan,
in the event the Master Servicer has received written notice that an Other Servicer or Other Trustee has made an advance of a
monthly debt service payment on a related Serviced Pari Passu Companion Loan and the Master Servicer subsequently receives late
collections in respect of such advanced payment, the Master Servicer shall remit to the applicable Other Servicer or Other Trustee,
within two (2) Business Days following receipt of such late collections in properly

 

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identified
funds, the amount allocable to such Serviced Pari Passu Companion Loan in accordance with the terms of this Agreement and the
related Intercreditor Agreement.

 

The
Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Gain-on-Sale Reserve Account
and the Interest Reserve Account, may be subaccounts of a single Eligible Account, which shall be maintained as a segregated account
separate from other accounts.

 

In
addition to the amounts required to be deposited in the Lower-Tier REMIC Distribution Account pursuant to this Section
3.04, the Master Servicer shall, as and when required hereunder, deliver to the Certificate Administrator for deposit in the
Lower-Tier REMIC Distribution Account:

 

(i)                
any amounts required to be deposited by the Master Servicer pursuant to Section 3.17(a) as Compensating Interest Payments
(other than the portion of any Compensating Interest Payment allocated to a Serviced Pari Passu Companion Loan) in connection
with Prepayment Interest Shortfalls;

 

(ii)               
any P&I Advances required to be made by the Master Servicer in accordance with Section 4.03;

 

(iii)             
any Liquidation Proceeds paid by the Master Servicer, the Special Servicer, the Holders of the Controlling Class or the Holders
of the Class R Certificates in connection with the purchase of all of the Mortgage Loans and any REO Properties in the Trust Fund
pursuant to Section 9.01 (exclusive of that portion thereof required to be deposited in the Collection Account pursuant
to Section 9.01);

 

(iv)             
any Prepayment Premiums and Yield Maintenance Charges with respect to the Mortgage Loans actually collected; and

 

(v)              
any other amounts required to be so delivered for deposit in the Lower-Tier REMIC Distribution Account pursuant to any provision
of this Agreement.

 

If,
as of the close of business (New York City time) on any P&I Advance Date or on such other date as any amount referred to in
the foregoing clauses (i) through (v), the Master Servicer shall not have delivered to the Certificate Administrator for
deposit in the Lower-Tier REMIC Distribution Account the amounts required to be deposited therein pursuant to the provisions
of this Agreement (including any P&I Advance with respect to the Mortgage Loans, pursuant to Section 4.03(a)), the
Master Servicer shall pay the Certificate Administrator interest on such late payment at the Prime Rate from and including the
date such payment was required to be made (without regard to any Grace Period set forth in Section 7.01(a)(i)) until (but
not including) the date such late payment is received by the Certificate Administrator.

 

The
Certificate Administrator shall, upon receipt, deposit in the Lower-Tier REMIC Distribution Account any and all amounts received
by the Certificate Administrator that are required by the terms of this Agreement to be deposited therein.

 

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Promptly
on each Distribution Date, the Certificate Administrator shall be deemed to withdraw from the Lower-Tier REMIC Distribution
Account and deposit in the Upper-Tier REMIC Distribution Account an aggregate amount of immediately available funds equal
to the Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and Yield Maintenance Charges for such Distribution
Date allocated in payment of the Lower-Tier Regular Interests as specified in Section 4.01(a), Section 4.01(c)
and Section 4.01(e), respectively.

 

Funds
on deposit in the Gain-on-Sale Reserve Account, the Interest Reserve Account, the Upper-Tier REMIC Distribution Account
or the Lower-Tier REMIC Distribution Account shall not be invested for so long as Wells Fargo Bank, National Association is
the Certificate Administrator; provided, however, that such funds may be invested and, if invested, shall be invested
by, and at the risk of, the Certificate Administrator (but only if the Certificate Administrator is not Wells Fargo Bank, National
Association) in Permitted Investments selected by the party hereunder that maintains such account which shall mature, unless payable
on demand, not later than such time on the Distribution Date which will allow the Certificate Administrator to make withdrawals
from the Distribution Account, and any such Permitted Investment shall not be sold or disposed of prior to its maturity unless
payable on demand. All such Permitted Investments to be administered by the Certificate Administrator, shall be made in the name
of “Wells Fargo Bank, National Association, as Certificate Administrator, for the benefit of Wells Fargo Bank, National
Association, as Trustee for the Holders of the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates,
Series 2019-C3 as their interests may appear”, or in the name of any successor trustee, as Trustee for the Holders of the
BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 as their interests may appear.
None of the Trust, the Depositor, the Mortgagors, the Master Servicer or the Special Servicer shall be liable for any loss incurred
on such Permitted Investments.

 

An
amount equal to all income and gain realized from any such investment shall be paid to the Certificate Administrator as additional
compensation and shall be subject to its withdrawal at any time from time to time. The amount of any losses incurred in respect
of any such investments shall be for the account of the Certificate Administrator which shall deposit the amount of such loss
(to the extent not offset by income from other investments) in the Distribution Accounts, as the case may be, out of its own funds
immediately as realized. If the Certificate Administrator deposits in or transfers to the Distribution Accounts, as the case may
be, any amount not required to be deposited therein or transferred thereto, it may at any time withdraw such amount or retransfer
such amount from the Distribution Accounts, as the case may be, any provision herein to the contrary notwithstanding.

 

On
the Closing Date, the Depositor shall deposit $275,000 with the Certificate Administrator, to be credited to the Legal Fee Reserve
Account. Funds held in the Legal Fee Reserve Account shall remain uninvested. Annually, on or about April 1st beginning
2020, upon receipt by the Certificate Administrator from the Depositor of a legal invoice related to Commission compliance matters,
the Certificate Administrator shall pay such legal invoice from and solely to the extent of funds then on deposit in the Legal
Fee Reserve Account. Any such instruction shall be sent by email to cts.cmbs.bond.admin@wellsfargo.com, along with a copy of the
invoice, and a subject line reference of “BBCMS 2019-C3 - Legal Fee Reserve Account”. The Legal Fee Reserve Account
will not be a part of the Trust Fund or either Trust REMIC. The

 

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Depositor
will be the beneficial owner of the Legal Fee Reserve Account for all federal income tax purposes, and shall be taxable on all
income earned therefrom.

 

Upon
the depletion of the Legal Fee Reserve Account, or if there are insufficient funds to pay any invoice, the Certificate Administrator
shall notify the Depositor, and thereafter the Depositor shall pay any additional legal invoices from its own funds and the Certificate
Administrator shall have no responsibility in connection therewith.

 

The
Certificate Administrator shall have no responsibility for verifying the accuracy, reasonableness, or appropriateness of any invoice
received. On the final Distribution Date, the Certificate Administrator shall pay to the Depositor any funds then remaining in
the Legal Fee Reserve Account in accordance with directions provided by the Depositor.

 

As
of the Closing Date, the Interest Reserve Account, the Upper-Tier REMIC Distribution Account, and the Lower-Tier REMIC
Distribution Account shall be located at the offices of the Certificate Administrator. The Certificate Administrator shall give
notice to the Trustee, the Master Servicer and the Depositor of the proposed location of the Interest Reserve Account, the Upper-Tier
REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, and, if established, the Gain-on-Sale Reserve
Account prior to any change thereof.

 

For
the avoidance of doubt, the Collection Account (other than the Companion Distribution Account, if it is a sub-account of the
Collection Account), the Lower-Tier REMIC Distribution Account, the Gain-on-Sale Reserve Account, any Servicing Account,
the REO Account and the Interest Reserve Account (including interest, if any, earned on the investment of funds in such accounts)
will be owned by the Lower-Tier REMIC; the Companion Distribution Account (including interest, if any, earned on the investment
of funds in such account) will be owned by the Companion Holders; and the Upper-Tier REMIC Distribution Account (including
interest, if any, earned on the investment of funds such account) will be owned by the Upper-Tier REMIC, each for federal
income tax purposes.

 

(c)               
[RESERVED].

 

(d)              
[RESERVED].

 

(e)               
The Certificate Administrator shall establish (upon notice from the Special Servicer of an event occurring that generates Gain-on-Sale
Proceeds) and maintain the Gain-on-Sale Reserve Account for the benefit of the Certificateholders. The Gain-on-Sale Reserve
Account shall be maintained as an Eligible Account (or as a subaccount of an Eligible Account), separate and apart from trust
funds for mortgage pass-through certificates of other series administered by the Certificate Administrator.

 

Upon
the disposition of any REO Property, in accordance with Section 3.09 or Section 3.16, the Special Servicer will
calculate the Gain-on-Sale Proceeds, if any, realized that are allocable to the Mortgage Loan and any gain that is allocable
to any related Serviced Companion Loan in connection with such sale and remit such funds to the Master Servicer on the later of
(x) the date that is on or prior to each Determination Date or (y) one (1) Business Day after such amounts are received and
properly identified and determined to be available, along with a notation of the amount of Gain-on-Sale Proceeds in the CREFC®
REO Liquidation Report. On

 

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the
related Remittance Date, the Master Servicer shall remit such funds that are allocable to the Mortgage Loan to the Certificate
Administrator, who shall deposit such funds into the Gain-on-Sale Reserve Account. Any gain on such disposition that is allocable
to any related Companion Loan in accordance with the terms of the related Intercreditor Agreement shall be remitted to the Companion
Paying Agent for deposit into the Companion Distribution Account.

 

(f)               
Any Non-Serviced Gain-on-Sale Proceeds received with respect to any Non-Serviced Mortgage Loan pursuant to the related Non-Serviced
PSA shall be remitted to the Certificate Administrator for deposit into the Gain-on-Sale Reserve Account.

 

(g)              
[RESERVED].

 

(h)              
[RESERVED].

 

(i)                
If any Loss of Value Payments are received in connection with a Material Defect pursuant to or as contemplated by Section 3.05(g)
of this Agreement, the Special Servicer shall establish and maintain one or more accounts (collectively, the “Loss
of Value Reserve Fund”) to be held for the benefit of the Certificateholders, for purposes of holding such Loss of Value
Payments. Each account that constitutes the Loss of Value Reserve Fund shall be an Eligible Account or a sub-account of an
Eligible Account. The Special Servicer shall, within two (2) Business Days of receipt of properly identified and available
Loss of Value Payments, deposit in the Loss of Value Reserve Fund all Loss of Value Payments received by it. The Certificate Administrator
shall account for the Loss of Value Reserve Fund as an outside reserve fund within the meaning of Treasury Regulations Section 1.860G-2(h)
and not an asset of any Trust REMIC. Furthermore, for all federal tax purposes, the Certificate Administrator shall (i) treat
amounts paid out of the Loss of Value Reserve Fund through the Collection Account to the Certificateholders as paid to and distributed
by the Trust REMICs and (ii) treat any amounts paid out of the Loss of Value Reserve Fund through the Collection Account
to a Mortgage Loan Seller as distributions by the Trust to such Mortgage Loan Seller as beneficial owner of the Loss of Value
Reserve Fund. The applicable Mortgage Loan Seller will be the beneficial owner of the Loss of Value Reserve Fund for all federal
income tax purposes, and shall be taxable on all income earned thereon.

 

Section
3.05        Permitted Withdrawals from the Collection Account, the Distribution Accounts
and the Companion Distribution Account. (a) The Master Servicer may, from time to time, make withdrawals from the Collection
Account (or the applicable subaccount of the Collection Account exclusive of the Companion Distribution Account) for any of the
following purposes (the following not being an order of priority and without duplication of the same payment or reimbursement):

 

(i)                
(A) no later than 4:00 p.m., New York City time, on or before each P&I Advance Date, to remit to the Certificate Administrator
for deposit in the Lower-Tier REMIC Distribution Account the amounts required to be remitted by the Master Servicer pursuant
to the first paragraph of Section 3.04(b) or that may be applied to make P&I Advances pursuant to Section 4.03(a);
and (B) pursuant to the second paragraph of Section 3.04(b), to remit to the Companion Paying Agent for deposit in
the Companion Distribution Account the amounts required to be so deposited with respect to the Companion Loans;

 

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(ii)               
(A) to pay itself (or, with respect to any Transferable Servicing Interest, to pay Midland Loan Services, a Division of PNC Bank,
National Association if Midland Loan Services, a Division of PNC Bank, National Association is no longer the Master Servicer,
any such interest pursuant to Section 3.11(a)) unpaid Servicing Fees in respect of each Mortgage Loan, Serviced Companion
Loan, Specially Serviced Loan, and REO Loan, as applicable, the Master Servicer’s rights to payment of Servicing Fees pursuant
to this clause (ii)(A) with respect to any Mortgage Loan, related Serviced Companion Loan, Specially Serviced Loan or REO
Loan, as applicable, being limited to amounts received on or in respect of such Mortgage Loan or related Serviced Companion Loan
(whether in the form of payments, Liquidation Proceeds or Insurance and Condemnation Proceeds) or such REO Loan (whether in the
form of REO Revenues, Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable as recovery of interest
thereon, (B) to pay the Special Servicer any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect
of each Specially Serviced Loan or REO Loan or Corrected Loan, as applicable, and any expense incurred by the Special Servicer
in connection with performing any inspections pursuant to Section 3.12(a), remaining unpaid first, out of related
REO Revenues, Liquidation Proceeds, Insurance and Condemnation Proceeds and collections in respect of the related Specially Serviced
Loan (provided that, in the case of such payment relating to a Serviced Whole Loan, such payment shall be made, subject
to the terms of the related Intercreditor Agreement with respect to a Serviced Whole Loan, first, from any related AB Subordinate
Companion Loan, as applicable, and then, pro rata and pari passu, from the related Mortgage Loan and any
related Serviced Pari Passu Companion Loan, in accordance with their respective outstanding principal balances) and then out of
general collections on the Mortgage Loans and REO Properties, (C) to pay the Operating Advisor (or the Master Servicer, if
applicable) any unpaid Operating Advisor Fees or Operating Advisor Consulting Fees in respect of each Mortgage Loan, Specially
Serviced Loan or REO Loan (other than any related Companion Loan), as applicable, the Operating Advisor’s right to payment
of the Operating Advisor Fee or Operating Advisor Consulting Fee pursuant to this clause (ii)(C) with respect to any Mortgage
Loan, Specially Serviced Loan or REO Loan (other than any related Companion Loan), as applicable, being limited to amounts received
on or in respect of such Mortgage Loan (whether in the form of payments, P&I Advances (solely with respect to the Operating
Advisor Fee), Liquidation Proceeds or Insurance and Condemnation Proceeds), such REO Loan (whether in the form of REO Revenues,
Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable as recovery of interest thereon, and (D) to
pay the Asset Representations Reviewer, any unpaid Asset Representations Reviewer Fee and (subject to Section 12.02(b))
Asset Representations Reviewer Asset Review Fee, if any, payable in connection with any Asset Review performed as a result of
an Affirmative Asset Review Vote;

 

(iii)             
to reimburse the Trustee and itself, as applicable (in that order), for unreimbursed P&I Advances, the Master Servicer’s
or the Trustee’s right to reimbursement pursuant to this clause (iii) being limited to amounts received which represent
Late Collections of interest (net of the related Servicing Fee) on and principal of the particular Mortgage Loans and REO Loans
with respect to which P&I Advances were made; provided that with respect to each Serviced Whole Loan, reimbursement
of P&I Advances shall be made only from amounts collected with respect to the related Serviced Mortgage Loan and not from
any amounts collected with respect to any related Serviced Companion

 

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Loan
(provided that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the
terms of the related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are
allocated to the related Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loans)
prior to reimbursement from other funds unrelated to such Serviced Whole Loan on deposit in the Collection Account; provided,
further, that if such P&I Advance with respect to a Mortgage Loan becomes a Workout-Delayed Reimbursement Amount,
then the maker of such P&I Advance shall additionally, but without duplication, thereafter be entitled to reimbursement for
such P&I Advance from the portion of general collections and recoveries on or in respect of the Mortgage Loans and REO Properties
on deposit in the Collection Account from time to time that represent collections or recoveries of principal to the extent provided
in clause (v) below; and provided, further, that if such Advance becomes a Nonrecoverable Advance, then such
Advance shall be reimbursable pursuant to clause (v) below;

 

(iv)            
to reimburse the Trustee, the Special Servicer and itself, as applicable (in that order), for unreimbursed Servicing Advances,
the Master Servicer’s, the Special Servicer’s or the Trustee’s respective rights to receive payment pursuant
to this clause (iv) with respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or any related Companion
Loan or any REO Property being limited to, as applicable, related payments, Liquidation Proceeds, Insurance and Condemnation Proceeds
and REO Revenues (provided that, in the case of such reimbursement relating to a Serviced Whole Loan, such reimbursements
shall be made, subject to the terms of the related Intercreditor Agreement with respect to a Serviced Whole Loan, first,
from any related AB Subordinate Companion Loan (if any) and then, pro rata and pari passu, from the related
Mortgage Loan and any related Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances
(provided that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the
terms of the related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are
allocated to the related Serviced Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loans)),
prior to reimbursement from other funds unrelated to such Serviced Whole Loan on deposit in the Collection Account related to
any Mortgage Loan); provided, however, that if such Servicing Advance becomes a Workout-Delayed Reimbursement
Amount, then the maker of such Servicing Advance shall additionally, but without duplication, thereafter be entitled to reimbursement
for such Servicing Advance from the portion of general collections and recoveries on or in respect of the Mortgage Loans and REO
Properties on deposit in the Collection Account from time to time that represent collections or recoveries of principal to the
extent provided in clause (v) below; provided, further, that if such Advance becomes a Nonrecoverable Advance,
then such Advance shall be reimbursable pursuant to clause (v) below;

 

(v)              
to reimburse the Trustee, the Special Servicer and itself, as applicable (in that order) (1) for Nonrecoverable Advances
first, out of REO Revenues, Liquidation Proceeds and Insurance and Condemnation Proceeds, if any, received on the related
Mortgage Loan and any related Companion Loan (with respect to such Companion Loan, only for Nonrecoverable Servicing Advances
made with respect thereto), then, out of the

 

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principal
portion of general collections on the Mortgage Loans and REO Properties, then, to the extent the principal portion of general
collections is insufficient and with respect to such excess only, subject to any exercise of the sole option to defer reimbursement
thereof pursuant to Section 3.17(c), out of general collections on the Mortgage Loans and REO Properties, (2) for
Workout-Delayed Reimbursement Amounts, out of the principal portion of the general collections on the Mortgage Loans and REO
Properties net of such amounts being reimbursed pursuant to (1) above; (provided that, in case of such reimbursement
of a Nonrecoverable Servicing Advance relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms
of the related Intercreditor Agreement with respect to a Serviced Whole Loan, first, from any related AB Subordinate Companion
Loan (if any) and then, pro rata and pari passu, from the related Mortgage Loan and any related Serviced
Pari Passu Companion Loan in accordance with their respective outstanding principal balances and provided, further,
that, in case of such reimbursement with respect to Nonrecoverable Servicing Advances relating to a Serviced Whole Loan, such
reimbursement shall be made as described above in this clause (v)(1) and (v)(2), prior to reimbursement from other funds
unrelated to such Serviced Whole Loan on deposit in the Collection Account; provided, further, that with respect
to a Serviced Mortgage Loan, reimbursement of Nonrecoverable P&I Advances from funds collected from the related Serviced Whole
Loan shall be made only from amounts collected with respect to such Serviced Mortgage Loan (and not from any amounts collected
with respect to the related Serviced Companion Loan), in accordance with the terms of the related Intercreditor Agreement (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing with respect to Nonrecoverable Servicing Advances and
Nonrecoverable P&I Advances shall not limit or otherwise modify the terms of the related Intercreditor Agreement pursuant
to which any amounts collected with respect to the related Whole Loan are allocated to the related Serviced Mortgage Loan, any
Serviced Pari Passu Companion Loans or AB Subordinate Companion Loans), prior to reimbursement from other funds unrelated to such
Serviced Whole Loan on deposit in the Collection Account related to any Mortgage Loan) or (3) to pay itself, with respect
to any Mortgage Loan, any related Companion Loan, if applicable, or REO Property any related earned Servicing Fee that remained
unpaid in accordance with clause (ii) above following a Final Recovery Determination made with respect to such Mortgage Loan
or REO Property and the deposit into the Collection Account of all amounts received in connection therewith;

 

(vi)             
at such time as it reimburses the Trustee and itself, as applicable (in that order) or any Other Trustee or Other Servicer for
a related securitization trust in respect of any Serviced Pari Passu Companion Loan for (a) any unreimbursed P&I Advance
(including any such P&I Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iii)
or clause (v) above, to pay itself and/or the Trustee or such other servicing party, as applicable, any interest accrued
and payable thereon in accordance with Section 4.03(d) or Section 3.11(d), (b) any unreimbursed Servicing Advances
(including any such Servicing Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iv)
or clause (v) above, to pay itself, the Special Servicer or the Trustee, or Other Trustee or Other Servicer as the case may
be, any interest accrued and payable thereon in accordance with Section 3.03(d) or 3.11(d) or (c) any Nonrecoverable
Advances pursuant to clause (v) above, to pay itself, the Special Servicer or the Trustee, or Other Trustee or Other Servicer
as the case may be, any interest

 

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accrued
and payable thereon; provided that in all events, subject to the related Intercreditor Agreement, interest on P&I Advances
on any Serviced Mortgage Loan shall not be paid from funds actually distributable to any related Serviced Companion Loan (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the
related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to
the related Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and any AB Subordinate Companion Loans);

 

(vii)            
to reimburse itself, the Special Servicer or the Trustee, as the case may be, for any unreimbursed expenses reasonably incurred
by such Person in respect of any Material Defect giving rise to a repurchase or substitution obligation of the applicable Mortgage
Loan Seller or any other obligation of the Mortgage Loan Seller under Section 4 of the applicable Mortgage Loan Purchase
Agreement, including, without limitation, any expenses arising out of the enforcement of the repurchase or substitution obligation
or any other obligation of the Mortgage Loan Seller, each such Person’s right to reimbursement pursuant to this clause (vii)
with respect to any Mortgage Loan being limited to that portion of the Purchase Price, the Loss of Value Payment or Substitution
Shortfall Amount paid with respect to such Mortgage Loan, that represents such expense in accordance with clause (iv) of
the definition of Purchase Price;

 

(viii)          
in accordance with Section 2.03(f), to reimburse itself or the Special Servicer, as the case may be, first, out
of Liquidation Proceeds, Insurance and Condemnation Proceeds, if any, with respect to the related Mortgage Loan or REO Loan, and
then out of general collections on the Mortgage Loans and REO Properties, for any unreimbursed expense reasonably incurred
by such Person in connection with the enforcement of the applicable Mortgage Loan Seller’s obligations under Section 4
of the applicable Mortgage Loan Purchase Agreement, but only to the extent that such expenses are not reimbursable pursuant to
clause (vii) above or otherwise; provided that, in case of such reimbursement out of Liquidation Proceeds, and Insurance
and Condemnation Proceeds described above relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the
terms of the related Intercreditor Agreement with respect to a Serviced Whole Loan, first, from any related AB Subordinate
Companion Loan and then, pro rata and pari passu, from the related Serviced Pari Passu Mortgage Loan and
any related Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the
related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to
the related Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loans), in each
case, prior to being payable out of general collections with respect to the Mortgage Loans;

 

(ix)             
to pay for costs and expenses incurred by the Trust pursuant to Section 3.09(c) first, out of REO Revenues, Liquidation
Proceeds, Insurance and Condemnation Proceeds with respect to the related Mortgage Loan, Serviced Companion Loan or REO Loan and
then out of general collections on the Mortgage Loans and REO Properties; provided that, in case of such reimbursement
relating to a Serviced Whole Loan, such

 

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reimbursement
shall be made, subject to the terms of the related Intercreditor Agreement with respect to a Serviced Whole Loan, first,
from any related AB Subordinate Companion Loan and then, pro rata and pari passu, from the related Serviced
Pari Passu Mortgage Loan and any related Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal
balances (provided that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise
modify the terms of the related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole
Loan are allocated to the related Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion
Loans), in each case, prior to being payable out of general collections with respect to the Mortgage Loan;

 

(x)               
to pay itself, as additional servicing compensation in accordance with Section 3.11(a), (a) (1) interest and
investment income earned in respect of amounts relating to the Trust Fund held in the Collection Account and the Companion Distribution
Account as provided in Section 3.06(b) (but only to the extent of the Net Investment Earnings with respect to the Collection
Account and the Companion Distribution Account for the period from and including the prior Distribution Date to and including
the P&I Advance Date related to such Distribution Date) and (2) Penalty Charges (other than Penalty Charges collected
while the related Mortgage Loan and any related Serviced Companion Loan is a Specially Serviced Loan), but only to the extent
collected from the related Mortgagor and to the extent that all amounts then due and payable with respect to the related Mortgage
Loan and any related Serviced Companion Loan have been paid and such Penalty Charges are not needed to pay interest on Advances
or costs and expenses incurred by the Trust (other than Special Servicing Fees, Liquidation Fees and Workout Fees) in accordance
with Section 3.11(d); and (b) to pay the Special Servicer, as additional servicing compensation in accordance with
Section 3.11(c), Penalty Charges collected on Specially Serviced Loans (but only to the extent collected from the related
Mortgagor and to the extent that all amounts then due and payable with respect to the related Specially Serviced Loan have been
paid and such Penalty Charges are not needed to pay interest on Advances or costs and expenses incurred by the Trust (other than
Special Servicing Fees, Liquidation Fees and Workout Fees) in accordance with Section 3.11(d));

 

(xi)             
to recoup any amounts deposited in the Collection Account in error;

 

(xii)           
to pay itself, the Special Servicer, the Depositor, the Operating Advisor, the Asset Representations Reviewer or any of their
respective directors, officers, members, managers, employees and agents, or CREFC®, as the case may be, out of
general collections, any amounts payable to any such Person pursuant to Section 3.11(g), Section 6.04(a) or Section
6.04(b); provided that, in the case of such reimbursement (other than a reimbursement of any amounts payable to CREFC®)
relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms of the related Intercreditor Agreement,
with respect to a Serviced Whole Loan, first, from any related AB Subordinate Companion Loan and then, pro rata
and pari passu, from the related Serviced Pari Passu Mortgage Loan and any related Serviced Pari Passu Companion Loan
in accordance with their respective outstanding principal balances (provided that, with respect to any AB Subordinate Companion
Loan, the foregoing shall not limit or otherwise modify the terms

 

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of
the related Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated
to the related Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loans), in
each case, prior to being payable out of general collections with respect to the Mortgage Loans;

 

(xiii)          
to pay for (a) the cost of the Opinions of Counsel contemplated by Sections 3.09(b), 3.14(b), 3.15(b),
3.18(b), 3.18(d), 3.18(i), 3.18(m), 5.08(a) and 10.01(f) to the extent payable out of
the Trust Fund, (b) the cost of any Opinion of Counsel contemplated by Section 13.01(a) or Section 13.01(c)
in connection with an amendment to this Agreement requested by the Trustee or the Master Servicer, which amendment is in furtherance
of the rights and interests of Certificateholders and (c) the cost of obtaining the REO Extension contemplated by Section
3.14(a); provided that, in the case of such reimbursement relating to a Serviced Whole Loan, such reimbursement shall
be made, subject to the terms of the related Intercreditor Agreement (i) with respect to the related Serviced Pari Passu
Whole Loan, pro rata and pari passu, from the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu
Companion Loan in accordance with their respective outstanding principal balances or (ii) with respect to a Serviced AB Whole
Loan, first, from the related AB Subordinate Companion Loan (if any) and then, from the related Serviced AB Mortgage
Loan and any Serviced Pari Passu Companion Loans on a pro rata and pari passu basis (provided that, with
respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related Intercreditor
Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related Serviced
AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loan), in each case, prior to being
payable out of general collections with respect to the Mortgage Loans;

 

(xiv)         
to pay out of general collections on the Mortgage Loans and the REO Properties any and all federal, state and local taxes imposed
on any Trust REMIC, or any of their assets or transactions, together with all incidental costs and expenses, to the extent that
none of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee is liable therefor pursuant to
Section 10.01(g);

 

(xv)           
to reimburse the Certificate Administrator out of general collections on the Mortgage Loans and REO Properties for expenses incurred
by and reimbursable to it by the Trust pursuant to Section 10.01(c);

 

(xvi)         
to pay the applicable Mortgage Loan Seller or any other Person, with respect to each Mortgage Loan, if any, previously purchased
by such Person pursuant to this Agreement, all amounts received thereon subsequent to the date of purchase relating to periods
after the date of purchase; or, in the case of the substitution for a Mortgage Loan by a Mortgage Loan Seller as contemplated
by Section 2.03(b), to pay such Mortgage Loan Seller with respect to the replaced Mortgage Loan all amounts received thereon
subsequent to the date of substitution, and with respect to the related Qualified Substitute Mortgage Loan(s), all Periodic Payments
due thereon during or prior to the month of substitution, in accordance with Section 2.03(b);

 

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(xvii)        
to remit to the Certificate Administrator for deposit in the Interest Reserve Account the amounts required to be deposited in
the Interest Reserve Account pursuant to Section 3.21;

 

(xviii)       
to reimburse the Operating Advisor for any Operating Advisor Expenses incurred by and reimbursable to it by the Trust pursuant
to Section 3.26(i);

 

(xix)          
to remit to the Companion Paying Agent for deposit into the Companion Distribution Account the amounts required to be deposited
pursuant to Section 3.04(b) without duplication of amounts remitted to the Companion Paying Agent pursuant to clause (i)
above;

 

(xx)           
[RESERVED];

 

(xxi)          
to clear and terminate the Collection Account at the termination of this Agreement pursuant to Section 9.01; and

 

(xxii)        
to pay for any expenditures to be borne by the Trust pursuant to the third paragraph of Section 3.03(c).

 

The
Master Servicer shall also be entitled to make withdrawals from time to time, from the Collection Account of amounts necessary
for the payments or reimbursement of amounts required to be paid to the applicable Non-Serviced Trust, the applicable Non-Serviced
Master Servicer, the applicable Non-Serviced Special Servicer, the applicable Non-Serviced Trustee, the applicable Non-Serviced
Paying Agent or any other applicable party to the applicable Non-Serviced PSA by the holder of a Non-Serviced Mortgage
Loan pursuant to or as contemplated by this Agreement, the applicable Non-Serviced Intercreditor Agreement and the applicable
Non-Serviced PSA.

 

The
Master Servicer shall keep and maintain separate accounting records, on a loan-by-loan and, when appropriate, on a property-by-property
basis, for the purpose of justifying any withdrawal from the Collection Account.

 

The
Master Servicer shall pay to the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor or the Asset
Representations Reviewer from the Collection Account amounts permitted to be paid to it therefrom monthly upon receipt of a certificate
of a Servicing Officer of the Special Servicer, or an officer of the Operating Advisor or the Asset Representations Reviewer or
a Responsible Officer of the Trustee or the Certificate Administrator describing the item and amount to which the Special Servicer,
the Trustee, the Certificate Administrator, the Operating Advisor or the Asset Representations Reviewer is entitled. The Master
Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the amounts stated therein. The Special
Servicer shall keep and maintain separate accounting for each Specially Serviced Loan and REO Loan, on a loan-by-loan
and, when appropriate, on a property-by-property basis, for the purpose of justifying any request for withdrawal from
the Collection Account.

 

Notwithstanding
anything to the contrary in this Section 3.05 or elsewhere in this Agreement, no amounts payable or reimbursable to the
Master Servicer, the Special Servicer, the

 

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Trustee,
the Certificate Administrator, the Operating Advisor or the Asset Representations Reviewer out of general collections that do
not specifically relate to a Serviced Whole Loan may be reimbursable from amounts that would otherwise be payable to the related
Companion Loan, as applicable.

 

(b)           The Certificate Administrator may, from time to time, make withdrawals from the Lower-Tier REMIC Distribution Account for
any of the following purposes (the following not being an order of priority):

 

(i)            to be deemed to make deposits of the Lower-Tier Distribution Amount pursuant to Section 4.01(c) and the amount of any
Prepayment Premiums and Yield Maintenance Charges distributable pursuant to Section 4.01(e) in the Upper-Tier REMIC
Distribution Account, and to make distributions on the Class R Certificates in respect of the Class LR Interest pursuant to Section
4.01(c);

 

(ii)           to pay to the Trustee and the Certificate Administrator or any of their directors, officers, employees and agents, as the case
may be, any amounts payable or reimbursable to any such Person with respect to the Mortgage Loans pursuant to Section 8.05(b);

 

(iii)          to pay the Certificate Administrator and the Trustee, the Certificate Administrator Fee and the Trustee Fee, as applicable, as
contemplated by Section 8.05(a) with respect to the Mortgage Loans;

 

(iv)          to pay for the cost (without duplication) of the Opinions of Counsel sought by (A) the Trustee or the Certificate Administrator
as provided in clause (vi) of the definition of “Disqualified Organization,” (B) the Trustee, the Certificate
Administrator, the Master Servicer or the Special Servicer as contemplated by Section 3.18(d), (C) the Trustee or
the Certificate Administrator as contemplated by Section 5.08(c) or Section 8.02 to the extent payable out of the
Trust Fund, (D) the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer as contemplated by
Section 10.01(f) or Section 10.01(l) to the extent payable out of the Trust Fund, or (E) the Trustee, the Certificate
Administrator, the Master Servicer or the Special Servicer as contemplated by Section 13.01(a) or Section 13.01(c)
in connection with any amendment to this Agreement requested by the Trustee or the Certificate Administrator, which amendment
is in furtherance of the rights and interests of Certificateholders, in each case, to the extent not paid pursuant to Section
13.01(g);

 

(v)           to pay any and all federal, state and local taxes imposed on the Lower-Tier REMIC or the Upper-Tier REMIC or on the assets
or transactions of any such REMIC, together with all incidental costs and expenses, to the extent none of the Trustee, the Certificate
Administrator, the REMIC Administrator, the Master Servicer or the Special Servicer is liable therefor pursuant to Section
10.01(g);

 

(vi)          to pay the REMIC Administrator any amounts reimbursable to it pursuant to Section 10.01(c) with respect to the Lower-Tier
REMIC or the Upper-Tier REMIC;

 

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(vii)            
to pay to the Master Servicer any amounts deposited by the Master Servicer in the Distribution Accounts not required to be deposited
therein;

 

(viii)          
to clear and terminate the Lower-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section
9.01; and

 

(ix)             
termination of this Agreement pursuant to Section 9.01.

 

(c)               
[RESERVED].

 

(d)              
The Certificate Administrator shall make, or be deemed to make, withdrawals from the Upper-Tier REMIC Distribution Account
for any of the following purposes:

 

(i)                
to make distributions to the Holders of the Regular Certificates (and to the Holders of the Class R Certificates in respect of
the Class UR Interest) on each Distribution Date pursuant to Section 4.01 or Section 9.01, as applicable; and

 

(ii)               
to clear and terminate the Upper-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section
9.01.

 

(e)               
[RESERVED].

 

(f)               
Notwithstanding anything herein to the contrary, with respect to any Mortgage Loan, (i) if amounts on deposit in the Collection
Account and the Lower-Tier REMIC Distribution Account are not sufficient to pay the full amount of the Servicing Fee listed
in Section 3.05(a)(ii), the Operating Advisor Fee listed in Section 3.05(a)(ii) and the Certificate Administrator
Fee listed in Section 3.05(b)(iii), then the Certificate Administrator Fee shall be paid in full prior to the payment of
any Servicing Fees payable under Section 3.05(a)(ii) and then, after payment of Servicing Fees, the Operating Advisor Fees
payable under Section 3.05(a)(ii) and in the event that amounts on deposit in the Collection Account and the Lower-Tier
REMIC Distribution Account are not sufficient to pay the full amount of such Certificate Administrator Fee, the Certificate Administrator
shall be paid based on the amount of such fees and (ii) if amounts on deposit in the Collection Account are not sufficient
to reimburse the full amount of Advances and interest thereon listed in Section 3.05(a)(ii), Section 3.05(a)(iii),
Section 3.05(a)(iv), Section 3.05(a)(v) and Section 3.05(a)(vi) then reimbursements shall be paid first
to the Certificate Administrator and to the Trustee, pro rata, second to the Special Servicer, third
to the Master Servicer and then to the Operating Advisor.

 

(g)              
If any Loss of Value Payments are deposited into the Loss of Value Reserve Fund with respect to any Mortgage Loan or any related
Serviced REO Property, then the Special Servicer shall promptly upon written direction from the Master Servicer (provided that,
(1) with respect to clause (iv) below, the Special Servicer shall have provided notice to the Master Servicer of the
occurrence of such Liquidation Event and (2) with respect to clause (v) below, the Certificate Administrator shall have
provided the Master Servicer and the Special Servicer with five Business Days’ prior notice of such final Distribution Date)
transfer such Loss of Value Payments (up to the remaining portion thereof) from the Loss of Value Reserve Fund to the Master Servicer
for deposit into the Collection Account for the following purposes:

 

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(i)             to reimburse the Master Servicer, the Special Servicer or the Trustee, in accordance with Section 3.05(a) of this Agreement,
for any Nonrecoverable Advance made by such party with respect to such Mortgage Loan or any related Serviced REO Property (together
with any interest on such Advances);

 

(ii)            to pay, in accordance with Section 3.05(a) of this Agreement, or to reimburse the Trust for the prior payment of, any expense
or Liquidation Fee relating to such Mortgage Loan or any related Serviced REO Property that constitutes or, if not paid out of
such Loss of Value Payments, would constitute an additional expense of the Trust;

 

(iii)           to offset any portion of Realized Losses that are attributable to such Mortgage Loan or related REO Property, as the case may
be (as calculated without regard to the application of such Loss of Value Payments), incurred with respect to such Mortgage Loan
or any related successor REO Loan;

 

(iv)           following the occurrence of a Liquidation Event with respect to such Mortgage Loan or any related Serviced REO Property and any
related transfers from the Loss of Value Reserve Fund with respect to the items contemplated by the immediately preceding clauses (i)-(iii)
as to such Mortgage Loan, to cover the items contemplated by the immediately preceding clauses (i)-(iii) in respect of
any other Mortgage Loan or Serviced REO Loan; and

 

(v)            On the final Distribution Date after all distributions have been made as set forth in clause (i) through (iv) above,
to each Mortgage Loan Seller, its pro rata share, based on the amount that it contributed, net of any amount contributed
by such Mortgage Loan Seller that was used pursuant to clauses (i)-(iii) to offset any portion of Realized Losses that
are attributable to such Mortgage Loan or related REO Property, as the case may be, additional trust fund expenses or any Nonrecoverable
Advances incurred with respect to the Mortgage Loan related to such contribution.

 

(h)            Any Loss of Value Payments transferred to the Collection Account pursuant to clauses (i)-(iii) of the prior paragraph
shall be treated as Liquidation Proceeds received by the Trust in respect of the related Mortgage Loan or any successor REO Loan
with respect thereto for which such Loss of Value Payments were received; and any Loss of Value Payments transferred to the Collection
Account pursuant to clause (iv) of the prior paragraph shall be treated as Liquidation Proceeds received by the Trust in
respect of the related Mortgage Loan or REO Loan for which such Loss of Value Payments are being transferred to the Collection
Account to cover an item contemplated by clauses (i)-(iv) of the prior paragraph.

 

(i)             The Companion Paying Agent may, from time to time, make withdrawals from the Companion Distribution Account to make distributions
pursuant to Section 4.01(k).

 

Section
3.06        Investment of Funds in the Collection Account, REO Account and Loss of Value
Reserve Fund. (a) The Master Servicer may direct any depository institution maintaining the Collection Account, the Companion
Distribution Account, or any Servicing Account (for purposes of this Section 3.06, an “Investment Account”),
the Special Servicer may direct any depository institution maintaining the REO Account and Loss of Value Reserve Fund

 

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(also
for purposes of this Section 3.06, an “Investment Account”) to invest or if it is such depository institution,
may itself invest, the funds held therein, only in one or more Permitted Investments bearing interest or sold at a discount, and
maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the next succeeding date on
which funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the depository institution
maintaining such account is the obligor thereon and (ii) no later than the date on which funds are required to be withdrawn
from such account pursuant to this Agreement, if the depository institution maintaining such account is the obligor thereon. All
such Permitted Investments shall be held to maturity, unless payable on demand. Any funds held in an Investment Account shall
be held in the name of the Master Servicer or the Special Servicer, as the case may be, on behalf of the Trustee (in its capacity
as such) for the benefit of the Certificateholders. The Master Servicer (in the case of the Collection Account, the Companion
Distribution Account or any Servicing Account maintained by or for the Master Servicer), the Special Servicer (in the case of
the REO Account, Loss of Value Reserve Fund or any Servicing Account maintained by or for the Special Servicer) on behalf of the
Trustee, shall maintain continuous physical possession of any Permitted Investment of amounts in the Collection Account, such
Companion Distribution Account, such Servicing Accounts, such Loss of Value Reserve Fund or such REO Account, as applicable, that
is either (i) a “certificated security,” as such term is defined in the UCC (such that the Trustee shall have
control pursuant to Section 8-106 of the UCC) or (ii) other property in which a secured party may perfect its security
interest by physical possession under the UCC or any other applicable law. In the case of any Permitted Investment held in the
form of a “security entitlement” (within the meaning of Section 8-102(a)(17) of the UCC), the Master Servicer
or the Special Servicer, as the case may be, shall take or cause to be taken such action as the Trustee deems reasonably necessary
to cause the Trustee to have control over such security entitlement. In the event amounts on deposit in an Investment Account
are at any time invested in a Permitted Investment payable on demand, the Master Servicer (in the case of the Collection Account,
the Companion Distribution Account or any Servicing Account maintained by or for the Master Servicer) or the Special Servicer
(in the case of the REO Account, Loss of Value Reserve Fund or any Servicing Account maintained by or for the Special Servicer)
shall:

 

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

 

(ii)               
demand payment of all amounts due thereunder promptly upon determination by the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee, as the case may be, that such Permitted Investment would not constitute a Permitted Investment in
respect of funds thereafter on deposit in the Investment Account.

 

(b)              
Interest and investment income realized on funds deposited in the Collection Account, the Companion Distribution Account or any
Servicing Account maintained by or for the Master Servicer to the extent of the Net Investment Earnings, if any, with respect
to such account for the period from and including the prior Distribution Date to and including the P&I Advance Date related
to the current Distribution Date, shall be for the sole and exclusive benefit of the Master Servicer to the extent (with respect
to Servicing Accounts) not required to be paid to the related Mortgagor and shall be subject to its withdrawal, or withdrawal
at its direction,

 

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in
accordance with Section 3.03 or Section 3.05(a), as the case may be. Interest and investment income realized on
funds deposited in the REO Account, Loss of Value Reserve Fund or any Servicing Account maintained by or for the Special Servicer,
to the extent of the Net Investment Earnings, if any, with respect to such account for each period from and including any Distribution
Date to and including the immediately succeeding P&I Advance Date, shall be for the sole and exclusive benefit of the Special
Servicer and shall be subject to its withdrawal in accordance with Section 3.14(c). In the event that any loss shall be
incurred in respect of any Permitted Investment (as to which the Master Servicer or Special Servicer, as the case may be, would
have been entitled to any Net Investment Earnings hereunder) directed to be made by the Master Servicer or the Special Servicer,
as the case may be, and on deposit in any of the Collection Account, the Companion Distribution Account, the Servicing Account,
Loss of Value Reserve Fund or the REO Account, the Master Servicer (in the case of the Collection Account, the Companion Distribution
Account or any Servicing Account maintained by or for the Master Servicer), the Special Servicer (in the case of the REO Account,
Loss of Value Reserve Fund or any Servicing Account maintained by or for the Special Servicer) shall deposit therein, no later
than the P&I Advance Date, without right of reimbursement, the amount of Net Investment Loss, if any, with respect to such
account for the period from and including the prior Distribution Date to and including the P&I Advance Date related to the
current Distribution Date; provided that neither the Master Servicer nor the Special Servicer shall be required to deposit
any loss on an investment of funds in an Investment Account if such loss is incurred solely as a result of the insolvency of the
federal or state chartered depository institution or trust company that holds such Investment Account, so long as such depository
institution or trust company satisfied the qualifications set forth in the definition of Eligible Account at the time such investment
was made (and such federal or state chartered depository institution or trust company is not an Affiliate of the Master Servicer
or the Special Servicer, as applicable, unless such depository institution or trust company satisfied the qualification set forth
in the definition of Eligible Account both (x) at the time the investment was made and (y) thirty (30) days prior
to such insolvency).

 

(c)               
Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted
Investment, or if a default occurs in any other performance required under any Permitted Investment, the Master Servicer may and,
upon the request of Holders of Certificates entitled to a majority of the Voting Rights allocated to any Class shall, take such
action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate
proceedings.

 

Section
3.07        Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage.
(a) The Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related
Serviced Companion Loan) shall use its efforts consistent with the Servicing Standard to cause the Mortgagor to maintain, and
the Special Servicer (with respect to REO Properties other than any Non-Serviced Mortgaged Properties) shall maintain, to
the extent required by the terms of the related Mortgage Loan documents, all insurance coverage as is required under the related
Mortgage Loan documents except to the extent that the failure of the related Mortgagor to do so is an Acceptable Insurance Default
(and except as provided in the next sentence with respect to the Master Servicer or the Special Servicer, as the case may be)
or if the Trustee does not have an insurable interest. If the Mortgagor does not so maintain such insurance coverage or the Mortgaged
Property is an REO Property, subject to its recoverability determination with respect to any required Servicing Advance, the Master
Servicer

 

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(with
respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan) or the Special
Servicer (with respect to REO Properties other than a Non-Serviced Mortgaged Property) shall maintain all insurance coverage
as is required under the related Mortgage, but only in the event the Trustee has an insurable interest therein and such insurance
is available to the Master Servicer or the Special Servicer, as applicable, and, if available, can be obtained at commercially
reasonable rates, as determined by the Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage
Loan) and any related Serviced Companion Loan) or the Special Servicer (with respect to REO Properties other than any Non-Serviced
Mortgaged Property) (provided that any determination that such insurance coverage is not available or not available at
commercially reasonable rates shall be made (i) prior to the occurrence and continuance of any Control Termination Event
and other than with respect to any Excluded Loan, with the consent of the Directing Certificateholder and (ii) after the
occurrence and during the continuance of a Control Termination Event, but prior to the occurrence and continuance of a Consultation
Termination Event, and other than with respect to any Excluded Loan, after consultation with the Directing Certificateholder (or,
in each case, with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB Control Appraisal
Period, with the consent of the Serviced AB Whole Loan Controlling Holder)), except to the extent that the failure of the related
Mortgagor to do so is an Acceptable Insurance Default as determined by the Master Servicer (with respect to a Non-Specially Serviced
Loan) or the Special Servicer (with respect to a Specially Serviced Loan); provided, however, that if any Mortgage
permits the holder thereof to dictate to the Mortgagor the insurance coverage to be maintained on such Mortgaged Property, the
Master Servicer or, with respect to REO Property, the Special Servicer, as applicable, shall impose or maintain, as applicable,
such insurance requirements as are consistent with the Servicing Standard taking into account the insurance in place at the closing
of the Mortgage Loan, provided that, with respect to the immediately preceding proviso, the Master Servicer shall be obligated
to use efforts consistent with the Servicing Standard to cause the Mortgagor to maintain (or to itself maintain) insurance against
property damage resulting from terrorist or similar acts unless the Mortgagor’s failure is an Acceptable Insurance Default
(as determined by the Master Servicer (with respect to a Non-Specially Serviced Loan) or the Special Servicer (with respect to
a Specially Serviced Loan) (i) unless a Control Termination Event has occurred and is continuing and other than with respect
to any Excluded Loan, with the consent of the Directing Certificateholder and (ii) after the occurrence and during the continuance
of a Control Termination Event, but prior to the occurrence and continuance of a Consultation Termination Event, and other than
with respect to any Excluded Loan, after consultation with the Directing Certificateholder (or, in each case, with respect to
any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB Control Appraisal Period, with the consent
of the Serviced AB Whole Loan Controlling Holder)), and only in the event the Trustee has an insurable interest therein and such
insurance is available to the Master Servicer or the Special Servicer, as the case may be, and, if available, can be obtained
at commercially reasonable rates. The Master Servicer and the Special Servicer shall be entitled to rely on insurance consultants
(at the applicable servicer’s expense) in determining whether any insurance is available at commercially reasonable rates.
Subject to Section 3.15(a) and the costs of such insurance being reimbursed or paid to the Special Servicer as provided
in the third-to-last sentence of this paragraph, the Special Servicer shall maintain for each REO Property (other than any Non-Serviced
Mortgaged Property) no less insurance coverage than was previously required of the Mortgagor under the related Mortgage Loan documents
unless the Special Servicer determines

  

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((i) unless
a Control Termination Event has occurred and is continuing and other than with respect to any Excluded Loan, with the consent
of the Directing Certificateholder and (ii) after the occurrence and during the continuance of a Control Termination Event,
but prior to the occurrence and continuance of a Consultation Termination Event, and other than with respect to any Excluded Loan,
after consultation with the Directing Certificateholder (or, in each case, with respect to any Serviced AB Whole Loan, prior to
the occurrence and continuance of a related AB Control Appraisal Period, with the consent of the Serviced AB Whole Loan Controlling
Holder)), that such insurance is not available at commercially reasonable rates or that the Trustee does not have an insurable
interest, in which case the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s determination.
All Insurance Policies maintained by the Master Servicer or the Special Servicer shall (i) contain a “standard”
mortgagee clause, with loss payable to the Master Servicer on behalf of the Trustee (in the case of insurance maintained in respect
of Mortgage Loans (other than any Non-Serviced Mortgage Loan), including any related Serviced Companion Loan, other than REO Properties)
or to the Special Servicer on behalf of the Trustee (in the case of insurance maintained in respect of REO Properties), (ii) be
in the name of the Trustee (in the case of insurance maintained in respect of REO Properties), (iii) include coverage in
an amount not less than the lesser of (x) the full replacement cost of the improvements securing Mortgaged Property or the
REO Property, as applicable, and (y) the outstanding principal balance owing on the related Mortgage Loan (including any
related Serviced Companion Loan) or REO Loan, as applicable, and in any event, the amount necessary to avoid the operation of
any co-insurance provisions, (iv) include a replacement cost endorsement providing no deduction for depreciation (unless
such endorsement is not permitted under the related Mortgage Loan documents), (v) be noncancelable without thirty (30) days
prior written notice to the insured party (except in the case of nonpayment, in which case such policy shall not be cancelled
without ten (10) days prior notice) and (vi) subject to the first proviso in the second sentence of this Section
3.07(a), be issued by a Qualified Insurer authorized under applicable law to issue such Insurance Policies. Any amounts collected
by the Master Servicer or the Special Servicer under any such Insurance Policies (other than amounts to be applied to the restoration
or repair of the related Mortgaged Property or REO Property or amounts to be released to the related Mortgagor, in each case in
accordance with the Servicing Standard and the provisions of the related Mortgage Loan documents) shall be deposited in the Collection
Account, subject to withdrawal pursuant to Section 3.05(a). Any costs incurred by the Master Servicer in maintaining any
such Insurance Policies in respect of Mortgage Loans (including any related Serviced Companion Loan) (other than REO Properties
and other than any Non-Serviced Mortgage Loan) (i) if the Mortgagor defaults on its obligation to do so, shall be advanced
by the Master Servicer as a Servicing Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance
would be a Nonrecoverable Advance then such cost shall instead be paid out of the Collection Account) and will be charged to the
related Mortgagor and (ii) shall not, for purposes of calculating monthly distributions to Certificateholders, be added to
the unpaid principal balance of the related Mortgage Loan and Serviced Companion Loan (if any), notwithstanding that the terms
of such Mortgage Loan or Serviced Companion Loan so permit. Any cost incurred by the Special Servicer in maintaining any such
Insurance Policies with respect to REO Properties shall be an expense of the Trust payable out of the related REO Account pursuant
to Section 3.14(c) or, if the amount on deposit therein is insufficient therefor, advanced by the Master Servicer as a
Servicing Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance would be a Nonrecoverable
Advance then such cost shall instead be paid out of the Collection Account). The

 

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foregoing
provisions of this Section 3.07 shall apply to any Serviced Whole Loan as if it were a single “Mortgage Loan”.
Notwithstanding any provision to the contrary, the Master Servicer shall not be required to maintain, and will not be in default
for failing to obtain, any earthquake or environmental insurance on any Mortgaged Property unless such insurance was required
at the time of origination of the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) and is currently available at
commercially reasonable rates.

 

Notwithstanding
the foregoing, with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion
Loan that either (x) require the Mortgagor to maintain “all risk” property insurance (and do not expressly permit
an exclusion for terrorism) or (y) contain provisions generally requiring the applicable Mortgagor to maintain insurance
in types and against such risks as the holder of such Mortgage Loan (including any related Serviced Companion Loan) reasonably
requires from time to time in order to protect its interests, the Master Servicer shall, consistent with the Servicing Standard,
(A) monitor in accordance with the Servicing Standard whether the insurance policies for the related Mortgaged Property contain
Additional Exclusions; provided that the Master Servicer and the Special Servicer shall be entitled to conclusively rely
upon certificates of insurance in determining whether such policies contain Additional Exclusions, (B) request the Mortgagor
to either purchase insurance against the risks specified in the Additional Exclusions or provide an explanation as to its reasons
for failing to purchase such insurance and (C)  notify the Special Servicer if it has knowledge that any insurance policy
for a Mortgaged Property securing a Specially Serviced Loan contains Additional Exclusions or if it has knowledge (such knowledge
to be based upon the Master Servicer’s compliance with the immediately preceding clauses (A) and (B) above) that
any Mortgagor fails to purchase the insurance requested to be purchased by the Master Servicer pursuant to clause (B) above.
If the Master Servicer (with respect to a Non-Specially Serviced Loan) or the Special Servicer (with respect to a Specially Serviced
Loan) determines in accordance with the Servicing Standard that such failure is not an Acceptable Insurance Default, the Special
Servicer (with regard to such determination made by the Special Servicer) shall notify the Master Servicer and the Master Servicer
shall use efforts consistent with the Servicing Standard to cause such insurance to be maintained. The Master Servicer and the
Special Servicer (with respect to the Special Servicer, at the expense of the Trust) shall be entitled to rely on insurance consultants
in making such determinations. The Master Servicer shall be entitled to rely on insurance consultants (at the expense of the Master
Servicer) in determining whether Additional Exclusions exist. Furthermore, the Master Servicer or the Special Servicer, as applicable,
shall promptly deliver such conclusions in writing to the 17g-5 Information Provider for posting to the 17g-5 Information
Provider’s Website for those Mortgage Loans that (i) have one of the ten (10) highest outstanding Stated Principal
Balances of all of the Mortgage Loans then included in the Trust or (ii) comprise more than 5% of the outstanding Stated
Principal Balance of the Mortgage Loans then included in the Trust. During the period that the Master Servicer or the Special
Servicer is evaluating the availability of such insurance or waiting for a response from the Directing Certificateholder or the
holder of any Companion Loan (or, with respect to a Serviced AB Whole Loan, the holder of the related Subordinate Companion Loan),
neither the Master Servicer nor the Special Servicer will be liable for any loss related to its failure to require the Mortgagor
to maintain (or its failure to maintain) such insurance and will not be in default of its obligations as a result of such failure
and the Master Servicer will not itself maintain such insurance or cause such insurance to be maintained.

 

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(b)              
(i) If the Master Servicer or the Special Servicer shall obtain and maintain a blanket Insurance Policy with a Qualified
Insurer insuring against fire and hazard losses on all of the Mortgage Loans (including any related Serviced Companion Loan, but
excluding any Non-Serviced Mortgage Loan) or REO Properties (other than with respect to a Non-Serviced Mortgaged Property), as
the case may be, required to be serviced and administered hereunder, then, to the extent such Insurance Policy provides protection
equivalent to the individual policies otherwise required, the Master Servicer or the Special Servicer shall conclusively be deemed
to have satisfied its obligation to cause fire and hazard insurance to be maintained on the related Mortgaged Properties or REO
Properties. Such Insurance Policy may contain a deductible clause, in which case the Master Servicer or the Special Servicer shall,
if there shall not have been maintained on the related Mortgaged Property or REO Property a fire and hazard Insurance Policy complying
with the requirements of Section 3.07(a), and there shall have been one or more losses which would have been covered by
such Insurance Policy, promptly deposit into the Collection Account from its own funds the amount of such loss or losses that
would have been covered under the individual policy but are not covered under the blanket Insurance Policy because of such deductible
clause to the extent that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan (including
any related Serviced Companion Loan), or in the absence of such deductible limitation, the deductible limitation which is consistent
with the Servicing Standard. In connection with its activities as administrator and Master Servicer of the Mortgage Loans or any
Serviced Companion Loans, the Master Servicer agrees to prepare and present, on behalf of itself, the Trustee and Certificateholders,
claims under any such blanket Insurance Policy in a timely fashion in accordance with the terms of such policy. The Special Servicer,
to the extent consistent with the Servicing Standard, may maintain, earthquake insurance on REO Properties (other than with respect
to a Non-Serviced Mortgaged Property), provided coverage is available at commercially reasonable rates, the cost of which shall
be a Servicing Advance.

 

(ii)               
If the Master Servicer or the Special Servicer shall cause any Mortgaged Property or REO Property to be covered by a master single
interest or force-placed insurance policy with a Qualified Insurer naming the Master Servicer or the Special Servicer on behalf
of the Trustee as the loss payee, then to the extent such Insurance Policy provides protection equivalent to the individual policies
otherwise required, the Master Servicer or the Special Servicer shall conclusively be deemed to have satisfied its obligation
to cause such insurance to be maintained on the related Mortgaged Properties and REO Properties. In the event the Master Servicer
or the Special Servicer shall cause any Mortgaged Property or REO Property to be covered by such master single interest or force-placed
insurance policy, the incremental costs of such insurance applicable to such Mortgaged Property or REO Property (i.e.,
other than any minimum or standby premium payable for such policy whether or not any Mortgaged Property or REO Property is covered
thereby) shall be paid by the Master Servicer as a Servicing Advance. Such master single interest or force-placed policy may contain
a deductible clause, in which case the Master Servicer or the Special Servicer shall, in the event that there shall not have been
maintained on the related Mortgaged Property or REO Property a policy otherwise complying with the provisions of Section 3.07(a),
and there shall have been one or more losses which would have been covered by such policy had it been maintained, deposit into
the Collection Account from its own funds the amount not otherwise payable under the master single or force-placed interest policy
because of such deductible clause, to the extent that any such deductible exceeds the deductible limitation that pertained to
the related Mortgage Loan,

 

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including
any related Serviced Companion Loan, or, in the absence of any such deductible limitation, the deductible limitation which is
consistent with the Servicing Standard.

 

(c)               
Each of the Master Servicer and the Special Servicer shall obtain and maintain at its own expense and keep in full force and effect
throughout the term of this Agreement a blanket fidelity bond and an errors and omissions insurance policy with a Qualified Insurer
covering losses that may be sustained as a result of an officer’s or employee’s misappropriation of funds or errors
or omissions. Such amount of coverage shall be in such form and amount as are consistent with the Servicing Standard. Coverage
of the Master Servicer or the Special Servicer under a policy or bond obtained by an Affiliate of the Master Servicer or the Special
Servicer and providing the coverage required by this Section 3.07(c) shall satisfy the requirements of this Section
3.07(c). The Special Servicer and the Master Servicer shall promptly report in writing to the Trustee any material changes
that may occur in their respective fidelity bonds, if any, and/or their respective errors and omissions insurance policies, as
the case may be, and shall furnish to the Trustee copies of all binders and policies or certificates evidencing that such bonds,
if any, and insurance policies are in full force and effect.

 

(d)              
At the time the Master Servicer determines in accordance with the Servicing Standard that any Mortgaged Property (other than a
Non-Serviced Mortgaged Property) is in a federally designated special flood hazard area (and such flood insurance has been
made available), the Master Servicer shall use efforts consistent with the Servicing Standard to cause the related Mortgagor (in
accordance with applicable law and the terms of the Mortgage Loan and related Serviced Companion Loan documents) to maintain,
and, if the related Mortgagor shall default in its obligation to so maintain, shall itself maintain to the extent such insurance
is available at commercially reasonable rates (as determined by the Master Servicer in accordance with the Servicing Standard
and to the extent the Trustee, as mortgagee, has an insurable interest therein), flood insurance in respect thereof, but only
to the extent the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan permits
the mortgagee to require such coverage and the maintenance of such coverage is consistent with the Servicing Standard. Such flood
insurance shall be in an amount equal to the lesser of (i) the unpaid principal balance of the related Mortgage Loan (and
any related Serviced Companion Loan, if applicable), and (ii) the maximum amount of insurance which is available under the
National Flood Insurance Act of 1968, as amended, plus such additional excess flood coverage with respect to the Mortgaged
Property, if any, in an amount consistent with the Servicing Standard. If the cost of any insurance described above is not borne
by the Mortgagor, the Master Servicer shall promptly make a Servicing Advance for such costs.

 

(e)               
During all such times as any REO Property (other than with respect to a Non-Serviced Mortgaged Property) shall be located
in a federally designated special flood hazard area, the Special Servicer shall cause to be maintained, to the extent available
at commercially reasonable rates (as determined by the Special Servicer in accordance with the Servicing Standard), a flood insurance
policy meeting the requirements of the current guidelines of the Federal Insurance Administration in an amount representing coverage
not less than the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as amended, plus
such additional excess flood coverage with respect to the Mortgaged Property, if any, in an amount consistent with the Servicing
Standard. The cost of any such flood insurance with respect to an REO Property shall be an expense of the Trust payable out of
the related REO

 

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Account
pursuant to Section 3.14(c) or, if the amount on deposit therein is insufficient therefor, paid by the Master Servicer
as a Servicing Advance.

 

(f)               
Each of the Operating Advisor and Asset Representations Reviewer shall obtain and maintain at its own expense and keep in full
force and effect throughout the term of this Agreement an “errors and omissions” insurance policy with a Qualified
Insurer covering losses that may be sustained as a result of an officer’s or employee’s errors or omissions.

 

(g)              
Notwithstanding anything to the contrary in this Section 3.07, so long as the long-term debt obligations or the deposit
account or claims-paying ability of the Master Servicer (or its immediate or remote parent) or the Special Servicer (or its
immediate or remote parent), as applicable, is rated at least “A-” by S&P or “A-” by Fitch (if
rated by Fitch), the Master Servicer (or its public parent) or the Special Servicer (or its public parent), as applicable, shall
be allowed to provide self-insurance with respect to any of its obligations under this Section 3.07.

 

Section
3.08        Enforcement of Due-on-Sale Clauses; Assumption Agreements. (a) As
to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that contains a provision
in the nature of a “due-on-sale” clause, which by its terms:

 

(i)               
provides that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and
payable upon the sale or other transfer of an interest in the related Mortgaged Property or equity interests in the Mortgagor
or principals of the Mortgagor; or

 

(ii)               
provides that such Mortgage Loan and any related Companion Loan may not be assumed without the consent of the mortgagee in connection
with any such sale or other transfer;

 

then,
for so long as such Mortgage Loan or related Serviced Companion Loan is being serviced under this Agreement, the Master Servicer
(with respect to any Non-Specially Serviced Loan as to which such matter is a Master Servicer Decision pursuant to clause (xiii)
of the definition thereof) or the Special Servicer (with respect to any Specially Serviced Loan or any Non-Specially Serviced
Loan as to which such matter is a Major Decision), on behalf of the Trustee as the mortgagee of record, shall (a) exercise
any right it may have with respect to such Mortgage Loan or related Companion Loan (x) to accelerate the payments thereon
or (y) to withhold its consent to any sale or transfer, consistent with the Servicing Standard or (b) waive any right
to exercise such rights, provided that (i) other than with respect to a Master Servicer Decision pursuant to clause (xiii)
of the definition thereof, (A) if such Mortgage Loan is not an Excluded Loan, no Control Termination Event shall have occurred
and be continuing and the matter involves a Major Decision, the consent (or deemed consent) of the Directing Certificateholder
shall have been obtained by the Special Servicer to the extent required by, and pursuant to the process described under, Section
6.08(a), (B) if such Mortgage Loan is not an Excluded Loan, a Control Termination Event shall have occurred and be continuing
and no Consultation Termination Event shall have occurred and be continuing, the Special Servicer shall have consulted with the
Directing Certificateholder if and to the extent required pursuant to Section 6.08(a) and (C) after the occurrence
and during the continuance of an Operating Advisor Consultation Event, the Special Servicer shall have consulted

 

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with
the Operating Advisor if and to the extent required pursuant to Section 6.08(a) (provided that, in the case of clause (A),
clause (B) and clause (C), such consent shall be deemed given or such consultation shall be deemed to have occurred,
as applicable, if a response to the request for consent or consultation, as the case may be, is not provided within ten (10) Business
Days after receipt of the Special Servicer’s written recommendation, which may be in the form of an Asset Status Report,
and analysis and all information reasonably requested by the Directing Certificateholder or the Operating Advisor, as applicable,
and reasonably available to the Special Servicer in order to grant or withhold such consent or conduct such consultation), and
(ii) with respect to any Mortgage Loan (x) with a Stated Principal Balance greater than or equal to $35,000,000, (y) with
a Stated Principal Balance greater than or equal to 5% of the aggregated Stated Principal Balance of the Mortgage Loans then outstanding
or (z) together with all other Mortgage Loans with which it is cross-collateralized or cross-defaulted or together
with all other Mortgage Loans with the same Mortgagor (or an Affiliate thereof), that is one of the ten largest Mortgage Loans
outstanding (by Stated Principal Balance), the Master Servicer or the Special Servicer, as the case may be, prior to consenting
to any action, shall obtain, a Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating
agency that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any class
of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25), provided, however, that with respect to sub-clauses (y) and (z) of this sub-clause (ii),
such Mortgage Loan shall also have a Stated Principal Balance of at least $10,000,000 for such Rating Agency Confirmation requirement
to apply. Notwithstanding anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control
Termination Event has occurred and is continuing), the Special Servicer shall consult with the Operating Advisor, on a non-binding
basis, in connection with the related transactions involving proposed Major Decisions and consider alternative actions recommended
by the Operating Advisor, in respect thereof, in accordance with the procedures set forth in Section 6.08 for consulting
with the Operating Advisor.

 

In
connection with any request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion
Loan Securities, the related rating agencies) pursuant to this Section 3.08(a), the Master Servicer or the Special Servicer,
as the case may be, shall (if not already provided in accordance with Section 3.25 of this Agreement) deliver a Review
Package to the 17g-5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related 17g-5
information provider) in accordance with Section 3.25 of this Agreement.

 

If
any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan provides that such Mortgage
Loan or related Serviced Companion Loan may be assumed or transferred without the consent of the mortgagee, provided that
certain conditions contained in the related Mortgage Loan documents are satisfied where no mortgagee discretion is necessary in
order to determine if such conditions are satisfied, then for so long as such Mortgage Loan or related Serviced Companion Loan
is being serviced under this Agreement, the Master Servicer (with respect to all Non-Specially Serviced Loans) and the Special
Servicer (with respect to all Specially Serviced Loans), on behalf of the Trustee as the mortgagee of record, shall determine
in accordance with the Servicing Standard whether such conditions have been satisfied.

 

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(b)              
As to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that contains a
provision in the nature of a “due-on-encumbrance” clause that by its terms:

 

(i)                 
provides that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and
payable upon the creation of any additional lien or other encumbrance on the related Mortgaged Property or equity interests in
the Mortgagor or principals of the Mortgagor; or

 

(ii)               
requires the consent of the mortgagee to the creation of any such additional lien or other encumbrance on the related Mortgaged
Property or equity interests in the Mortgagor or principals of the Mortgagor;

 

then,
for so long as such Mortgage Loan or related Serviced Companion Loan is being serviced under this Agreement, the Master Servicer
(with respect to any Non-Specially Serviced Loan and as to which such matter is a Master Servicer Decision pursuant to clause (xiii)
of the definition thereof) or the Special Servicer (with respect to any Specially Serviced Loan or any Non-Specially Serviced
Loan as to which such matter is a Major Decision), on behalf of the Trustee as the mortgagee of record, shall (a) exercise
any right it may have with respect to such Mortgage Loan or related Companion Loan (x) to accelerate the payments thereon
or (y) to withhold its consent to the creation of any additional lien or other encumbrance, consistent with the Servicing
Standard or (b) waive its right to exercise such rights, provided that (i) other than with respect to a Master Servicer
Decision pursuant to clause (xiii) of the definition thereof, (A) if such Mortgage Loan is not an Excluded Loan, no
Control Termination Event shall have occurred and be continuing and the matter involves a Major Decision, the consent (or deemed
consent) of the Directing Certificateholder shall have been obtained by the Special Servicer to the extent required by, and pursuant
to the process described under, Section 6.08(a), (B) if such Mortgage Loan is not an Excluded Loan, a Control Termination
Event shall have occurred and be continuing, and no Consultation Termination Event shall have occurred and be continuing, the
Special Servicer shall have consulted with the Directing Certificateholder if and to the extent required pursuant to Section
6.08(a) and (C) after the occurrence and during the continuance of an Operating Advisor Consultation Event, the Special
Servicer shall have consulted with the Operating Advisor if and to the extent required pursuant to Section 6.08(a) (provided
that in the case of clause (A), clause (B) and clause (C) such consent shall be deemed given or such consultation
shall be deemed to have occurred, as applicable, if a response to the request for consent or consultation, as the case may be,
is not provided within ten (10) Business Days after receipt of the Special Servicer’s written recommendation, which
may be in the form of an Asset Status Report, and analysis and all information reasonably requested by the Directing Certificateholder
or the Operating Advisor, as applicable, and reasonably available to the Special Servicer in order to grant or withhold such consent
or conduct such consultation), and (ii) the Master Servicer or the Special Servicer, as the case may be, has obtained Rating
Agency Confirmation from each Rating Agency and a confirmation of any applicable rating agency that such action will not result
in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities
(if any) (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25) if such Mortgage Loan
(A) has an outstanding principal balance that is greater than or equal to 2% of the Stated Principal Balance of the outstanding

 

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Mortgage
Loans or (B) has an LTV Ratio greater than 85% (including any existing and proposed debt) or (C) has a debt service
coverage ratio less than 1.20x (in each case, determined based upon the aggregate of the Stated Principal Balance of the Mortgage
Loan and related Companion Loan, if any, and the principal amount of the proposed additional lien) or (D) is one of the ten
largest Mortgage Loans (by Stated Principal Balance) or (E) has a Stated Principal Balance greater than $35,000,000; provided,
however, that with respect to sub-clauses (A), (B), (C) and (D) of this sub-clause (ii), such Mortgage
Loan shall also have a Stated Principal Balance of at least $10,000,000 for such Rating Agency Confirmation requirement to apply.
Notwithstanding anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control Termination
Event has occurred and is continuing), the Special Servicer shall consult with the Operating Advisor, on a non-binding basis,
in connection with the related transactions involving proposed Major Decisions and consider alternative actions recommended by
the Operating Advisor, in respect thereof, in accordance with the procedures set forth in Section 6.08 for consulting with
the Operating Advisor.

 

In
connection with any request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion
Loan Securities, the related rating agencies) pursuant to this Section 3.08(b), the Special Servicer or the Master Servicer,
as applicable, shall (if not already provided in accordance with Section 3.25 of this Agreement) deliver a Review Package
to the 17g-5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related 17g-5 information
provider) in accordance with Section 3.25 of this Agreement.

 

To
the extent permitted by the related Mortgage Loan documents, the Rating Agency Confirmation described in the immediately preceding
paragraph or in Section 3.08(a) shall be an expense of the related Mortgagor; provided that if the Mortgage Loan
documents are silent as to who bears the costs of obtaining any such Rating Agency Confirmation, the Special Servicer shall use
reasonable efforts to make the related Mortgagor bear such costs and expenses. Unless determined to be a Nonrecoverable Advance
such costs not collected from the related Mortgagor shall be advanced as a Servicing Advance.

 

If
any Mortgage Loan or related Companion Loan provides that such Mortgage Loan or related Companion Loan may be further encumbered
without the consent of the mortgagee, provided that certain conditions contained in the related Mortgage Loan documents
are satisfied where no mortgagee discretion is necessary in order to determine if such conditions are satisfied, then for so long
as such Mortgage Loan or related Companion Loan is being serviced under this Agreement, the Master Servicer (with respect to all
Non-Specially Serviced Loans) and the Special Servicer (with respect to all Specially Serviced Loans), on behalf of the Trustee
as the mortgagee of record, shall determine whether such conditions have been satisfied.

 

Upon
receiving a request for any matter described in Section 3.08(a) or this Section 3.08(b) that constitutes a consent
or waiver with respect to a “due-on-sale” or “due-on-encumbrance” clause with respect
to a Mortgage Loan that is a Non-Specially Serviced Loan and other than any transfers or assumptions provided for in clause (xiii)
of the definition of Master Servicer Decision and other than any waiver of a “due-on-encumbrance” clause which
waiver constitutes a Master Servicer Decision pursuant to clause (xiii) or clause (xiv) of the definition thereof, the
Master Servicer shall promptly forward such request to the Special Servicer

 

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and
the Special Servicer will be required to process such request (including, without limitation, interfacing with the Mortgagor)
and except as provided in the next sentence, the Master Servicer will have no further obligation with respect to such request
or due-on-sale or due-on-encumbrance. The Master Servicer shall continue to cooperate with the Special Servicer
by delivering to the Special Servicer any additional information in the Master Servicer’s possession requested by the Special
Servicer relating to such consent or waiver with respect to a “due-on-sale” or “due-on-encumbrance”
clause. The Master Servicer shall not be permitted to process any request relating to such consent or waiver with respect to a
“due-on-sale” or “due-on-encumbrance” clause (other than any transfers or assumptions
provided for in clause (xiii) of the definition of Master Servicer Decision and other than any waiver of a “due-on-encumbrance”
clause which waiver constitutes a Master Servicer Decision pursuant to clause (xiii) or clause (xiv) of the definition
thereof) and shall not be required to interface with the Mortgagor or provide a written recommendation and analysis with respect
to any such request.

 

(c)               
Nothing in this Section 3.08 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive
notice of any assumption of a Mortgage Loan, any sale or other transfer of the related Mortgaged Property or the creation of any
additional lien or other encumbrance with respect to such Mortgaged Property.

 

(d)              
Except as otherwise permitted by Section 3.08(a), Section 3.08(b) and/or Section 3.18, neither the Master
Servicer nor the Special Servicer shall agree to modify, waive or amend any term of any Mortgage Loan and related Serviced Companion
Loan, as applicable, in connection with the taking of, or the failure to take, any action pursuant to this Section 3.08.
The Master Servicer and the Special Servicer, as the case may be, shall provide copies of any final waivers (except with respect
to provision of any such waivers to the 17g-5 Information Provider, exclusive of any Privileged Information) it effects pursuant
to Section 3.08(a) or Section 3.08(b) to each other and to the 17g-5 Information Provider with respect to each
Mortgage Loan, and shall notify the Trustee, the Certificate Administrator, each other and, subject to the terms of this Agreement,
the 17g-5 Information Provider (for posting to the 17g-5 Information Provider’s Website in accordance with Section
3.25) and, with respect to a Whole Loan, the related Serviced Companion Noteholder, of any assumption or substitution agreement
executed pursuant to Section 3.08(a) or Section 3.08(b) and shall forward thereto a copy of such agreement.

 

(e)               
[RESERVED].

 

(f)               
For the avoidance of doubt, neither the Master Servicer nor the Special Servicer may waive its rights or grant its consent under
any “due-on-sale” or “due-on-encumbrance” clause other than in compliance with the provisions
of Section 3.08(a) through (d) hereof. In the case of the Special Servicer, no such waiver or consent shall be made
without (x) (i) prior to the occurrence and continuance of a Control Termination Event and (ii) other than with
respect to any Excluded Loan, the consent (or deemed consent) of the Directing Certificateholder having been obtained if and to
the extent required by, and pursuant to the process described under Section 6.08(a), (y) (i) after the occurrence
and during the continuance of a Control Termination Event, but prior to the occurrence and continuance of a Consultation Termination
Event and (ii) other than with respect to any Excluded Loan, consultation with the Directing Certificateholder if and to
the extent required pursuant to Section 6.08(a) and (z) after

 

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the
occurrence and during the continuance of an Operating Advisor Consultation Event, consultation with the Operating Advisor if and
to the extent required pursuant to Section 6.08(a).

 

(g)              
Notwithstanding the foregoing provisions of this Section 3.08, if the Master Servicer or the Special Servicer, as applicable,
makes a determination under Section 3.08(a) or Section 3.08(b) that the applicable conditions in the related Mortgage
Loan or Companion Loan documents, as applicable, with respect to assumptions or encumbrances permitted without the consent of
the mortgagee have been satisfied, the applicable assumptions and transfers may be subject to an assumption or other fee, unless
such fees are otherwise prohibited pursuant to the Mortgage Loan documents; provided that any such fee not provided for
in the Mortgage Loan documents does not constitute a “significant” change in yield pursuant to Treasury Regulations
Section 1.1001-3(e)(2).

 

Section
3.09        Realization upon Defaulted Loans and Companion Loans. (a) Upon an event
of default under the Mortgage Loan documents related to a Serviced Whole Loan or a Mortgage Loan with mezzanine debt, the Master
Servicer shall promptly provide written notice to the related Companion Holder or mezzanine lender, as applicable, with a copy
of such notice to the Special Servicer. The Special Servicer shall, subject to subsections (b) through (d) of this Section
3.09, Section 3.24, subject to the Directing Certificateholder’s and the Operating Advisor’s respective
rights pursuant to Section 6.08, and any Companion Holder or mezzanine lender’s rights under the related Intercreditor
Agreement (in the case of a Serviced Whole Loan, on behalf of the holders of the beneficial interest of the related Companion
Loan) or this Agreement, exercise reasonable efforts, consistent with the Servicing Standard, to foreclose upon or otherwise comparably
convert (which may include an REO Acquisition) the ownership of property securing any such Mortgage Loan (other than any Non-Serviced
Mortgage Loan) and related Companion Loan, if any, as come into and continue in default as to which no satisfactory arrangements
(including by way of a discounted pay-off) can be made for collection of delinquent payments, and which are not released from
the Trust Fund pursuant to any other provision hereof. The foregoing is subject to the provision that, in any case in which a
Mortgaged Property shall have suffered damage from an Uninsured Cause, the Master Servicer or the Special Servicer shall not be
required to make a Servicing Advance and expend funds toward the restoration of such property unless the Special Servicer has
determined in its reasonable discretion that such restoration will increase the net proceeds of liquidation of such Mortgaged
Property to Certificateholders after reimbursement to the Master Servicer or the Special Servicer, as applicable, for such Servicing
Advance, and the Master Servicer or the Special Servicer has not determined that such Servicing Advance together with accrued
and unpaid interest thereon would constitute a Nonrecoverable Advance. The costs and expenses incurred by the Special Servicer
in any such proceedings shall be advanced by the Master Servicer; provided that, in each case, such cost or expense would
not, if incurred, constitute a Nonrecoverable Servicing Advance. Nothing contained in this Section 3.09 shall be construed
so as to require the Master Servicer or the Special Servicer, on behalf of the Trust, to make an offer on any Mortgaged Property
at a foreclosure sale or similar proceeding that is in excess of the fair market value of such property, as determined by the
Master Servicer or the Special Servicer in its reasonable judgment taking into account the factors described in Section 3.16(b)
and the results of any Appraisal obtained pursuant to the following sentence, all such offers to be made in a manner consistent
with the Servicing Standard. If and when the Special Servicer or the Master Servicer deems it necessary and prudent for purposes
of establishing the fair market value of any Mortgaged Property securing a Defaulted Loan or any related defaulted Companion

 

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Loan,
whether for purposes of making an offer at foreclosure or otherwise, the Special Servicer or the Master Servicer, as the case
may be, is authorized to have an Appraisal performed with respect to such property by an Independent MAI-designated appraiser
the cost of which shall be paid by the Master Servicer as a Servicing Advance.

 

(b)              
The Special Servicer shall not acquire any personal property pursuant to this Section 3.09 unless either:

 

(i)                 
such personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by
the Special Servicer; or

 

(ii)               
the Special Servicer shall have obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer as a Servicing
Advance) to the effect that the holding of such personal property by the Trust (to the extent not allocable to the related Companion
Loan) will not cause an Adverse REMIC Event.

 

(c)              
Notwithstanding the foregoing provisions of this Section 3.09 and Section 3.24, neither the Master Servicer nor
the Special Servicer shall, on behalf of the Trustee, obtain title to a Mortgaged Property in lieu of foreclosure or otherwise,
or take any other action with respect to any Mortgaged Property, if, as a result of any such action, the Trustee, on behalf of
the Certificateholders and/or any related Companion Holder, would be considered to hold title to, to be a “mortgagee-in-possession”
of, or to be an “owner” or “operator” of such Mortgaged Property within the meaning of CERCLA or any comparable
law, unless (as evidenced by an Officer’s Certificate to such effect delivered to the Trustee) the Special Servicer has
previously determined in accordance with the Servicing Standard, based on an Environmental Assessment of such Mortgaged Property
performed by an Independent Person who regularly conducts Environmental Assessments and performed within six (6) months prior
to any such acquisition of title or other action, that:

 

(i)                 
such Mortgaged Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental
consultant, that it would be in the best economic interest of the Certificateholders (and with respect to any Serviced Whole Loan,
the related Companion Holders), as a collective whole as if such Certificateholders and, if applicable, Companion Holders constituted
a single lender, to take such actions as are necessary to bring such Mortgaged Property in compliance with such laws, and

 

(ii)               
there are no circumstances present at such Mortgaged Property relating to the use, management or disposal of any hazardous materials
for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any currently effective
federal, state or local law or regulation, or that, if any such hazardous materials are present for which such action could be
required, after consultation with an environmental consultant, it would be in the best economic interest of the Certificateholders
(and with respect to any Serviced Whole Loan, the Companion Holders), as a collective whole as if such Certificateholders and,
if applicable, Companion Holders constituted a single lender, to take such actions with respect to the affected Mortgaged Property.

 

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The
cost of any such Environmental Assessment shall be paid by the Master Servicer as a Servicing Advance and the cost of any remedial,
corrective or other further action contemplated by clause (i) and/or clause (ii) of the preceding sentence shall be
paid by the Master Servicer as a Servicing Advance, unless it is a Nonrecoverable Servicing Advance (in which case it shall be
an expense of the Trust and, in the case of a Serviced Whole Loan, shall be withdrawn in accordance with the related Intercreditor
Agreement by the Master Servicer from the Collection Account, including from the Companion Distribution Account (such withdrawal
to be made from amounts on deposit therein that are otherwise payable on or allocable to such Serviced Whole Loan)); and if any
such Environmental Assessment so warrants, the Special Servicer shall, except with respect to any Companion Loan and any Environmental
Assessment ordered after such Mortgage Loan has been paid in full, perform such additional environmental testing at the expense
of the Trust as it deems necessary and prudent to determine whether the conditions described in clauses (i) and (ii) of the
preceding sentence have been satisfied. The Special Servicer shall review and be familiar with the terms and conditions relating
to enforcing claims and shall monitor the dates by which any claim or action must be taken (including delivering any notices to
the insurer and using reasonable efforts to perform any actions required under such policy) under each environmental insurance
policy in effect and obtained on behalf of the mortgagee to receive the maximum proceeds available under such policy for the benefit
of the Certificateholders and the Trustee (as holder of the Lower-Tier Regular Interests).

 

(d)              
If (i) the environmental testing contemplated by subsection (c) above establishes that either of the conditions set
forth in clauses (i) and (ii) of subsection (c) above of the first sentence thereof has not been satisfied with respect
to any Mortgaged Property securing a Defaulted Loan and, in the case of a Serviced Mortgage Loan, any related Companion Loan,
and (ii) there has been no breach of any of the representations and warranties set forth in or required to be made pursuant
to Section 4 of each of the Mortgage Loan Purchase Agreements for which the applicable Mortgage Loan Seller could be required
to repurchase such Defaulted Loan pursuant to Section 5 of the applicable Mortgage Loan Purchase Agreement, then the Special
Servicer shall take such action as it deems to be in the best economic interest of the Trust (other than proceeding to acquire
title to the Mortgaged Property) and is hereby authorized ((A) prior to the occurrence and continuance of a Control Termination
Event (or with respect to any Serviced AB Mortgage Loan, after the occurrence and during the continuation of an AB Control Appraisal
Period, but prior to the occurrence and continuance of a Control Termination Event) and (B) other than with respect to any
Excluded Loan), with the consent of the Directing Certificateholder at such time as it deems appropriate to release such Mortgaged
Property from the lien of the related Mortgage, provided that, if such Mortgage Loan has a then-outstanding principal
balance of greater than $1,000,000, then prior to the release of the related Mortgaged Property from the lien of the related Mortgage,
(i) the Special Servicer shall have notified the Rating Agencies, the Trustee, the Certificate Administrator, the Master
Servicer and the Directing Certificateholder (in the case of the Directing Certificateholder, prior to the occurrence and continuance
of a Consultation Termination Event and other than with respect to any Excluded Loan), in writing of its intention to so release
such Mortgaged Property and the bases for such intention, (ii) the Certificate Administrator shall have posted such notice
of the Special Servicer’s intention to so release such Mortgaged Property to the Certificate Administrator’s Website
pursuant to Section 3.13(b) and (iii) in addition to the prior written consent of the Directing Certificateholder
as required above, the Holders of Certificates entitled to a majority of the Voting Rights shall have consented or have been deemed
to have consented to such release within thirty (30) days of the Certificate

 

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Administrator’s
posting such notice to the Certificate Administrator’s Website (failure to respond by the end of such 30-day period
being deemed consent of the Holders of the Certificates). To the extent that any fee charged by any Rating Agency in connection
with rendering such written confirmation is not paid by the related Mortgagor, such fee is to be an expense of the Trust; provided
that the Special Servicer shall use commercially reasonable efforts to collect such fee from the Mortgagor to the extent permitted
under the related Mortgage Loan documents.

 

(e)               
The Special Servicer shall provide written reports and a copy of any Environmental Assessments in electronic format to the Directing
Certificateholder (other than with respect to any Excluded Loan), the Master Servicer and the 17g-5 Information Provider monthly
regarding any actions taken by the Special Servicer with respect to any Mortgaged Property securing a Defaulted Loan, or defaulted
Companion Loan as to which the environmental testing contemplated in subsection (c) above has revealed that either of the
conditions set forth in clauses (i) and (ii) of the first sentence thereof has not been satisfied, in each case until the
earlier to occur of satisfaction of both such conditions, repurchase of the related Mortgage Loan by the applicable Mortgage Loan
Seller or release of the lien of the related Mortgage on such Mortgaged Property.

 

(f)               
The Special Servicer shall notify the Master Servicer of any abandoned and/or foreclosed properties which require reporting to
the Internal Revenue Service and shall provide the Master Servicer with all information regarding forgiveness of indebtedness
and required to be reported with respect to any Mortgage Loan or related Companion Loan that is abandoned or foreclosed and the
Master Servicer shall report to the Internal Revenue Service and the related Mortgagor, in the manner required by applicable law,
such information and the Master Servicer shall report, via Form 1099A or Form 1099C (or any successor form), all forgiveness
of indebtedness and abandonment and foreclosure to the extent such information has been provided to the Master Servicer by the
Special Servicer. Upon request, the Master Servicer shall deliver a copy of any such report to the Trustee and the Certificate
Administrator.

 

(g)              
The Special Servicer shall have the right to determine, in accordance with the Servicing Standard, the advisability of the maintenance
of an action to obtain a deficiency judgment if the state in which the Mortgaged Property is located and the terms of the Mortgage
Loan (and if applicable, the related Companion Loan) permit such an action.

 

(h)              
The Special Servicer shall maintain accurate records, prepared by one of its Servicing Officers, of each Final Recovery Determination
in respect of a Defaulted Loan (other than with respect to a Non-Serviced Mortgage Loan) or defaulted Companion Loan or any
REO Property (other than any Non-Serviced Mortgaged Property) and the basis thereof. Each Final Recovery Determination shall
be evidenced by an Officer’s Certificate promptly delivered to the Trustee, the Certificate Administrator, the Directing
Certificateholder (other than with respect to any Excluded Loan) and the Master Servicer and in no event later than the next succeeding
P&I Advance Determination Date.

 

Section
3.10        Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files.
(a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer
or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for
such purposes,

 

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the
Master Servicer or the Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery
of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing
Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment
which are required to be deposited in the Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer
to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period
as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency)
of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or the Special
Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related
Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid
in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to
the Collection Account.

 

(b)              
From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan)
(and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release
signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein
to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such
document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master
Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan,
the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation
which are required to be deposited into the Collection Account (including amounts related to the related Companion Loan, if applicable)
pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a
copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee),
as the case may be, with the original being released upon termination of the Trust.

 

(c)               
Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer
notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court
pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect
of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including
any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies
or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be
responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents
or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed
by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof
by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon
completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency
or enforceability.

 

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(d)              
If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced
PSA, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer
requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or
cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.

 

Section
3.11        Servicing Compensation. (a) As compensation for its activities hereunder,
the Master Servicer shall be entitled to receive the Servicing Fee with respect to each Mortgage Loan, Serviced Companion Loan
and REO Loan (other than the portion of any REO Loan related to any Non-Serviced Companion Loan) (including Specially Serviced
Loans and any Non-Serviced Mortgage Loan constituting a “specially serviced loan” under any related Non-Serviced
PSA). As to each Mortgage Loan, Companion Loan and REO Loan, the Servicing Fee shall accrue from time to time at the Servicing
Fee Rate and shall be computed on the basis of the Stated Principal Balance of such Mortgage Loan, Companion Loan or REO Loan,
as the case may be, and in the same manner as interest is calculated on such Mortgage Loan, Companion Loan or REO Loan, as the
case may be, and, in connection with any partial month interest payment, for the same period respecting which any related interest
payment due on such Mortgage Loan or Companion Loan or deemed to be due on such REO Loan is computed. The Servicing Fee with respect
to any Mortgage Loan, Companion Loan or REO Loan shall cease to accrue if a Liquidation Event occurs with respect to the related
Mortgage Loan, except that if such Mortgage Loan is part of a Serviced Whole Loan and such Serviced Whole Loan continues to be
serviced and administered under this Agreement notwithstanding such Liquidation Event, then the applicable Servicing Fee shall
continue to accrue and be payable as if such Liquidation Event did not occur. The Servicing Fee shall be payable monthly, on a
loan-by-loan basis, from payments of interest on each Mortgage Loan, Companion Loan and REO Revenues allocable as interest
on each REO Loan, and as otherwise provided by Section 3.05(a). The Master Servicer shall be entitled to recover unpaid
Servicing Fees in respect of any Mortgage Loan, Companion Loan or REO Loan out of that portion of related payments, Insurance
and Condemnation Proceeds, Liquidation Proceeds and REO Revenues (in the case of an REO Loan) allocable as recoveries of interest,
to the extent permitted by Section 3.05(a).

 

Except
as set forth in the following sentence, the fourth paragraph of this Section 3.11(a), Section 6.03, Section 6.05
and Section 7.01(c), the right to receive the Servicing Fee may not be transferred in whole or in part (except in connection
with a transfer of all of the Master Servicer’s duties and obligations hereunder to a successor servicer in accordance with
the terms hereof). With respect to each Serviced Pari Passu Companion Loan, the Servicing Fee shall be payable to the Master Servicer
from amounts payable in respect of such Serviced Pari Passu Companion Loan, subject to the terms of the related Intercreditor
Agreement.

 

The
Master Servicer shall be entitled to retain, and shall not be required to deposit in the Collection Account pursuant to Section
3.04(a), additional servicing compensation (other than with respect to a Non-Serviced Mortgage Loan) in the form of the
following amounts to the extent collected from the related Mortgagor: (i) 100% of Excess Modification Fees related to any
modifications, waivers, extensions or amendments of any Non-Specially Serviced Loans (including any related Serviced Companion
Loan, to the extent not prohibited by the related Intercreditor Agreement) that are Master Servicer Decisions; provided
that if any such matter

 

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involves
a Major Decision, then the Master Servicer shall be entitled to 50% of such Excess Modification Fees, (ii) 100% of all assumption
application fees and other similar items received on any Non-Specially Serviced Loans for which the Master Servicer is processing
the underlying assumption-related transaction (including any related Serviced Companion Loan, to the extent not prohibited
by the related Intercreditor Agreement) that are Master Servicer Decisions and 100% of all defeasance fees (provided that
for the avoidance of doubt, any such defeasance fee shall not include any Modification Fees in connection with a defeasance that
the Special Servicer is entitled to under this Agreement); and (iii) 100% of assumption, waiver, consent and earnout fees,
and other similar fees (other than assumption application and defeasance fees) pursuant to Section 3.08 and Section
3.18 or other actions performed in connection with this Agreement on the Non-Specially Serviced Loans (including any related
Serviced Companion Loan, to the extent not prohibited by the related Intercreditor Agreement) relating to Master Servicer Decisions;
provided that if any such matter involves a Major Decision, then the Master Servicer shall be entitled to 50% of such assumption,
waiver, consent and earnout fees and other similar fees, and only to the extent that all amounts then due and payable with respect
to the related Mortgage Loan or related Serviced Pari Passu Companion Loan have been paid. In addition, the Master Servicer shall
be entitled to charge and retain as additional servicing compensation (other than with respect to any Non-Serviced Mortgage
Loan or Specially Serviced Loan) any charges for beneficiary statements and demand charges actually paid by the related Mortgagors
to the extent such beneficiary statements or demand charges were prepared by the Master Servicer, amounts collected for checks
returned for insufficient funds with respect to the accounts held by the Master Servicer and reasonable review fees in connection
with any Mortgagor request to the extent such review fees are not prohibited under the related Mortgage Loan documents, in each
case only to the extent actually paid by or on behalf of the related Mortgagor and shall not be required to deposit such amounts
in the Collection Account or the Companion Distribution Account pursuant to Section 3.04(a) or Section 3.04(b),
respectively. Subject to Section 3.11(d), the Master Servicer shall also be entitled to additional servicing compensation
in the form of: (i) Penalty Charges to the extent provided in Section 3.11(d), (ii) interest or other income
earned on deposits relating to the Trust Fund in the Collection Account or the Companion Distribution Account in accordance with
Section 3.06(b) (but only to the extent of the Net Investment Earnings, if any, with respect to such account for the period
from and including the prior Distribution Date to and including the P&I Advance Date related to the current Distribution Date),
(iii) interest or other income earned on deposits in its Servicing Accounts which are not required by applicable law or the
related Mortgage Loan to be paid to the Mortgagor, and (iv) the difference, if positive, between Prepayment Interest Excesses
and Prepayment Interest Shortfalls collected on the Mortgage Loans and any Serviced Pari Passu Companion Loan, during the related
Collection Period to the extent not required to be paid as Compensating Interest Payments. The Master Servicer shall be required
to pay out of its own funds all expenses incurred by it in connection with its servicing activities hereunder (including, without
limitation, payment of any amounts due and owing to any of its Sub-Servicers and the premiums for any blanket Insurance Policy
insuring against hazard losses pursuant to Section 3.07), if and to the extent such expenses are not payable directly out
of the Collection Account and the Master Servicer shall not be entitled to reimbursement therefor except as expressly provided
in this Agreement.

 

Notwithstanding
anything herein to the contrary, Midland Loan Services, a Division of PNC Bank, National Association may, at its option, assign
or pledge to any third party or retain for itself the Transferable Servicing Interest with respect to any Mortgage Loan and any

 

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Serviced
Pari Passu Companion Loan (and any successor REO Loan); provided, however, that in the event of any resignation
or termination of Midland Loan Services, a Division of PNC Bank, National Association as the Master Servicer, all or any portion
of the Transferable Servicing Interest may be reduced by the Trustee to the extent reasonably necessary (in the sole discretion
of the Trustee) for the Trustee to obtain a qualified successor master servicer that meets the requirements of Section 6.05
and who requires market-rate servicing compensation that accrues at a per annum rate in excess of the Retained Fee
Rate, and any such assignment of the Transferable Servicing Interest shall, by its terms be expressly subject to the terms of
this Agreement and such reduction. The Master Servicer shall pay the Transferable Servicing Interest to the holder of the Transferable
Servicing Interest at such time and to the extent the Master Servicer is entitled to receive payment of its Servicing Fees hereunder,
notwithstanding any resignation or termination of Midland Loan Services, a Division of PNC Bank, National Association as Master
Servicer hereunder (subject to reduction pursuant to the preceding sentence).

 

A
Liquidation Fee will be payable to the Master Servicer with respect to each Mortgage Loan (other than a Non-Serviced Mortgage
Loan) with respect to which the Master Servicer acts as Enforcing Servicer and obtains (i) any Liquidation Proceeds or Insurance
and Condemnation Proceeds or (ii) Loss of Value Payments (including with respect to any related Companion Loan, if applicable).

 

(b)              
As compensation for its activities hereunder, the Special Servicer shall be entitled to receive the Special Servicing Fee with
respect to each Specially Serviced Loan and REO Loan (other than a Non-Serviced Mortgage Loan and any REO Loan relating to
a Non-Serviced Mortgaged Property). As to each Specially Serviced Loan and REO Loan, the Special Servicing Fee shall accrue
from time to time at the Special Servicing Fee Rate and shall be computed on the basis of the Stated Principal Balance of such
Specially Serviced Loan or REO Loan, as the case may be, and in the same manner as interest is calculated on the Specially Serviced
Loans or REO Loans, as the case may be, and, in connection with any partial month interest payment, for the same period respecting
which any related interest payment due on such Specially Serviced Loan or deemed to be due on such REO Loan is computed. The Special
Servicing Fee with respect to any Specially Serviced Loan or REO Loan shall cease to accrue if a Liquidation Event occurs with
respect to the related Mortgage Loan. The Special Servicing Fee shall be payable monthly, on a loan-by-loan basis, in
accordance with the provisions of Section 3.05(a). The right to receive the Special Servicing Fee may not be transferred
in whole or in part except in connection with the transfer of all of the Special Servicer’s responsibilities and obligations
under this Agreement. For the sake of clarity, nothing herein is intended to limit the Special Servicer’s right to share
a portion of such compensation with the Directing Certificateholder after it is received nor to imply that there may not be more
than one Special Servicer appointed under this Agreement; provided that no one Mortgage Loan may be serviced by more than
one Special Servicer at any time. The Special Servicer shall not be entitled to any Special Servicing Fees with respect to a Non-Serviced
Mortgage Loan.

 

(c)               
Additional servicing compensation in the following form shall be promptly paid to the Special Servicer by the Master Servicer
(or directly from the related Mortgagor) to the extent such fees are paid by a Mortgagor and shall not be required to be deposited
in the Collection Account pursuant to Section 3.04(a): (i) 100% of all Excess Modification Fees related to modifications,
waivers, extensions or amendments of any Specially Serviced Loans and 100% of

 

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assumption
fees and other similar fees received with respect to Specially Serviced Loans, (ii) 100% of all assumption application fees
and other similar items on any Specially Serviced Loans and 100% of assumption application fees and other similar items on any
Non-Specially Serviced Loans for which the Special Servicer is processing the underlying assumption-related transaction
that is a Major Decision, (iii) 100% of waiver, consent and earnout fees, pursuant to Section 3.08 and Section
3.18 or other actions performed in connection with this Agreement on the Specially Serviced Loans or certain other similar
fees paid by the related Mortgagor on Specially Serviced Loans, (iv) 50% of all Excess Modification Fees related to modifications,
waivers, extensions or amendments of any Non-Specially Serviced Loan to the extent the matter involves a Major Decision and
(v) 50% of all assumption, waiver, consent and earnout fees received with respect to any Non-Specially Serviced Loan
to the extent that the matter involves a Major Decision. Subject to Section 3.11(d), the Special Servicer shall also be
entitled to additional servicing compensation in the form of: (i) Penalty Charges to the extent provided in Section 3.11(d),
(ii) any charges for beneficiary statements and demand charges actually paid by the related Mortgagors to the extent such
beneficiary statements or demand charges were prepared by the Special Servicer, (iii) amounts collected for checks returned
for insufficient funds with respect to the accounts held by the Special Servicer and (iv) interest or other income earned
on deposits relating to the Trust Fund in the REO Account and the Loss of Value Reserve Fund in accordance with Section 3.06(b)
(but only to the extent of the Net Investment Earnings, if any, with respect to such account for the period from and including
the prior Distribution Date to and including the P&I Advance Date related to such Distribution Date). In addition, the Special
Servicer shall be entitled to charge any Mortgagor for and retain as additional servicing compensation (other than with respect
to any Non-Serviced Mortgage Loan) reasonable review fees in connection with any Mortgagor request to the extent such review
fees are not prohibited under the related Mortgage Loan documents, and only to the extent actually paid by the related Mortgagor.
The Special Servicer shall also be entitled to additional servicing compensation in the form of a Workout Fee with respect to
each Corrected Loan at the Workout Fee Rate on such Corrected Loan for so long as it remains a Corrected Loan; provided,
however, that after receipt by the Special Servicer of Workout Fees with respect to such Corrected Loan in an amount equal
to $25,000, any Workout Fees in excess of such amount shall be reduced by the Excess Modification Fee Amount; provided,
further, however, that in the event the Workout Fee collected over the course of such workout calculated at the
Workout Fee Rate is less than $25,000, then the Special Servicer shall be entitled to an amount from the final payment on the
related Corrected Loan (including any related Serviced Companion Loan) that would result in the total Workout Fees payable to
the Special Servicer in respect of that Corrected Loan (including any related Serviced Companion Loan) equal to $25,000. The Workout
Fee shall be reduced (but not below zero) with respect to each collection on such Corrected Loan from which fee would otherwise
be payable until an amount equal to the Excess Modification Fee Amount has been deducted in full. The Workout Fee with respect
to any Corrected Loan will cease to be payable if such loan again becomes a Specially Serviced Loan; provided that a new
Workout Fee will become payable if and when such Specially Serviced Loan again becomes a Corrected Loan. The Special Servicer
shall not be entitled to any Workout Fee with respect to a Non-Serviced Mortgage Loan. If the Special Servicer is terminated (other
than for cause) or resigns, it shall retain the right to receive any and all Workout Fees payable in respect of Mortgage Loans
or any related Companion Loan that became Corrected Loans prior to the time of that termination or resignation except the Workout
Fees will no longer be payable if the Corrected Loan subsequently becomes a Specially Serviced Loan. If the Special Servicer resigns

  

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or
is terminated (other than for cause), it will receive any Workout Fees payable on Specially Serviced Loans for which the resigning
or terminated Special Servicer had determined to grant a forbearance or cured the event of default through a modification, restructuring
or workout negotiated by the Special Servicer and evidenced by a signed writing, but which had not as of the time the Special
Servicer resigned or was terminated become a Corrected Loan solely because the Mortgagor had not had sufficient time to make three
consecutive timely Periodic Payments and which subsequently becomes a Corrected Loan as a result of the Mortgagor making such
three consecutive timely Periodic Payments. The successor special servicer shall not be entitled to any portion of such Workout
Fees. The Special Servicer shall not be entitled to receive any Workout Fees after termination for cause. A Liquidation Fee shall
be payable to the Special Servicer with respect to (a) each Non-Specially Serviced Loan with respect to which the Special Servicer
acts as the Enforcing Servicer, (b) each Specially Serviced Loan (other than a Non-Serviced Mortgage Loan) and (c) each REO Property
(other than a Non-Serviced Mortgaged Property) as to which the Special Servicer receives any Liquidation Proceeds or Insurance
and Condemnation Proceeds subject to the exceptions set forth in the definition of Liquidation Fee (such Liquidation Fee to be
paid out of such Liquidation Proceeds or Insurance and Condemnation Proceeds). If, however, Liquidation Proceeds or Insurance
and Condemnation Proceeds are received with respect to any Corrected Loan and the Special Servicer is properly entitled to a Workout
Fee, such Workout Fee will be payable based on and out of the portion of such Liquidation Proceeds and Insurance and Condemnation
Proceeds that constitute principal and/or interest on such Mortgage Loan. Notwithstanding anything herein to the contrary, the
Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout Fee, but not both, with respect to proceeds
on any Mortgage Loan. Notwithstanding the foregoing, with respect to any Companion Loan, the Liquidation Fee, Workout Fee and
Special Servicing Fees, if any, will be computed as provided in the related Intercreditor Agreement or to the extent such Intercreditor
Agreement is silent or refers to this Agreement or indicates such fees are paid in accordance with this Agreement, as provided
herein as though such Companion Loan were a Mortgage Loan. Subject to Section 3.11(d), the Special Servicer will also be
entitled to additional fees in the form of Penalty Charges. The Special Servicer shall be required to pay out of its own funds
all expenses incurred by it in connection with its servicing activities hereunder (including, without limitation, payment of any
amounts, other than management fees in respect of REO Properties, due and owing to any of its Sub-Servicers and the premiums for
any blanket Insurance Policy obtained by it insuring against hazard losses pursuant to Section 3.07), if and to the extent
such expenses are not expressly payable directly out of the Collection Account or the REO Account, and the Special Servicer shall
not be entitled to reimbursement therefor except as expressly provided in this Agreement.

 

For
the avoidance of doubt, with respect to any fee split (other than a fee split with respect to Penalty Charges) between the Master
Servicer and the Special Servicer pursuant to the terms of this Agreement, the Master Servicer and the Special Servicer shall
each have the right, but not any obligation, to reduce or elect not to charge its respective percentage interest in any such fee;
provided, however, that (x) neither the Master Servicer nor the Special Servicer shall have the right to reduce
or elect not to charge the percentage interest of any fee due to the other and (y) to the extent either the Master Servicer
or the Special Servicer exercises its right to reduce or elect not to charge its respective percentage interest in any fee, the
party that reduced or elected not to charge such fee will not have any right to share in any portion of the other party’s
fee. For the avoidance of doubt, if the Master Servicer decides not to charge any fee (other than Penalty Charges), the Special
Servicer shall still be entitled to charge the portion of the related fee the

 

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Special
Servicer would have been entitled to if the Master Servicer had charged a fee and the Master Servicer shall not be entitled to
any percentage interest of such fee charged by the Special Servicer. Similarly, if the Special Servicer decides not to charge
any fee (other than Penalty Charges), the Master Servicer shall still be entitled to charge the portion of the related fee the
Master Servicer would have been entitled to if the Special Servicer had charged a fee and the Special Servicer shall not be entitled
to any percentage interest of such fee charged by the Master Servicer.

 

(d)              
In determining the compensation of the Master Servicer or the Special Servicer, as applicable, with respect to Penalty Charges,
on any Distribution Date, the aggregate Penalty Charges collected on any Mortgage Loan (other than a Non-Serviced Mortgage Loan)
and any related Companion Loan since the prior Distribution Date shall be applied (in such order) to reimburse (i) the Master
Servicer, the Special Servicer or the Trustee for interest on Advances on such Mortgage Loan or related Companion Loan, if applicable
(and, in connection with a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer, the applicable Non-Serviced
Special Servicer or the applicable Non-Serviced Trustee for interest on the servicing advances made by any such party with respect
to a Non-Serviced Whole Loan pursuant to the applicable Non-Serviced PSA, to the extent not prohibited by the applicable Non-Serviced
Intercreditor Agreement) due on such Distribution Date, (ii) the Trust for all interest on Advances previously paid to the
Master Servicer or the Trustee pursuant to Section 3.05(a)(vi) (and, in connection with a Non-Serviced Mortgage Loan, the
related trust for all interest on servicing advances reimbursed by such trust to any party under the applicable Non-Serviced PSA,
which resulted in an additional expense for the Trust, to the extent not prohibited by the applicable Non-Serviced Intercreditor
Agreement) with respect to such Mortgage Loan or related Companion Loan, if applicable and (iii) the Trust for all additional
expenses of the Trust (other than Special Servicing Fees, Workout Fees and Liquidation Fees), including without limitation, inspections
by the Special Servicer and all unpaid Advances incurred since the Closing Date with respect to such Mortgage Loan. Penalty Charges
(other than with respect to a Non-Serviced Mortgage Loan, which shall be payable as additional servicing compensation under the
related Non-Serviced PSA) remaining thereafter shall be distributed to the Master Servicer, if and to the extent accrued while
such Mortgage Loan and any related Companion Loan was a Non-Specially Serviced Loan, and to the Special Servicer, if and
to the extent accrued on such Mortgage Loan during the period such Mortgage Loan was a Specially Serviced Loan or REO Loan. Any
Penalty Charges paid or payable as additional servicing compensation to the Master Servicer and the Special Servicer shall be
distributed between the Master Servicer and the Special Servicer, on a pro rata basis, based on the Master Servicer’s
and the Special Servicer’s respective entitlements to such compensation described in the previous sentence. If the Special
Servicer has partially waived any Penalty Charge (part of which accrued when the related Mortgage Loan was not a Specially Serviced
Loan and part of which accrued when the related Mortgage Loan was a Specially Serviced Loan), any collections in respect of such
Penalty Charge shall be shared pro rata by the Master Servicer and the Special Servicer based on the respective portions
of such Penalty Charge to which each would otherwise have been entitled. If the Master Servicer has partially waived any Penalty
Charge (part of which accrued when the related Mortgage Loan was not a Specially Serviced Loan and part of which accrued when
the related Mortgage Loan was a Specially Serviced Loan), any collections in respect of such Penalty Charge shall be shared pro
rata by the Master Servicer and the Special Servicer based on the respective portions of such Penalty Charge to which each
would otherwise have been entitled. Notwithstanding the foregoing or anything else herein to the contrary, Penalty

 

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Charges
with respect to any Companion Loan will be allocated pursuant to the applicable Intercreditor Agreement after payment of all related
Advances and interest thereon and additional expenses of the Trust in accordance with this Section 3.11(d).

 

If
a Servicing Shift Whole Loan becomes a Specially Serviced Loan prior to the applicable Servicing Shift Date, the Special Servicer
shall service and administer such Servicing Shift Whole Loan and any related REO Property in the same manner as any other Specially
Serviced Loan or Serviced REO Property and shall be entitled to all rights and compensation earned with respect to such Serviced
Whole Loan as the Special Servicer of such Serviced Whole Loan. With respect to a Servicing Shift Mortgage Loan, prior to the
applicable Servicing Shift Date, no other special servicer will be entitled to any such compensation or have such rights and obligations.
If a Servicing Shift Whole Loan is still a Specially Serviced Loan on the applicable Servicing Shift Date, the Non-Serviced
Special Servicer and the Special Servicer shall be entitled to compensation with respect to such Servicing Shift Whole Loan as
if the Special Servicer were being terminated as the Special Servicer with respect to such Servicing Shift Whole Loan and the
Non-Serviced Special Servicer were replacing the Special Servicer as the successor Special Servicer with respect to such Servicing
Shift Whole Loan.

 

(e)               
With respect to each Distribution Date, the Special Servicer shall deliver or cause to be delivered to the Master Servicer within
two (2) Business Day following the Determination Date, and the Master Servicer shall deliver, to the extent it has received,
to the Certificate Administrator, without charge and on the related Remittance Date, an electronic report (which may include HTML,
Word or Excel compatible format, clean and searchable PDF format or such other format as mutually agreeable between the Certificate
Administrator and the Special Servicer) that discloses and contains an itemized listing of any Disclosable Special Servicer Fees
received by the Special Servicer or any of its Affiliates, if any, with respect to such Distribution Date; provided that
no such report shall be due in any month during which no Disclosable Special Servicer Fees were received.

 

(f)               
The Special Servicer and its Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration
(including, without limitation, in the form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing
arrangement) from any Person (including, without limitation, the Trust, any Mortgagor, any property manager, any guarantor or
indemnitor in respect of a Mortgage Loan and any purchaser of any Mortgage Loan or REO Property) in connection with the disposition,
workout or foreclosure of any Mortgage Loan, the management or disposition of any REO Property, or the performance of any other
special servicing duties under this Agreement, other than as expressly provided in this Section 3.11; provided that
such prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.

 

(g)              
Pursuant to the CREFC® License Agreement, CREFC® shall be paid (according to the payment instructions
set forth on Exhibit JJ hereto or such other payment instructions as CREFC® may provide to the Master
Servicer in writing at least two Business Days prior to the Remittance Date) the CREFC® Intellectual Property Royalty
License Fee on a monthly basis. The Master Servicer shall withdraw from the Collection Account and, to the extent sufficient funds
are on deposit therein, pay the CREFC® Intellectual Property Royalty License Fee to CREFC® in accordance
with Section 3.05(a)(xii) on a monthly basis, from funds on deposit in the Collection Account.

 

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Section
3.12        Inspections; Collection of Financial Statements; Delivery of Reports. (a) The
Master Servicer shall perform (at its own expense), or shall cause to be performed (at its own expense), a physical inspection
of each Mortgaged Property relating to a Mortgage Loan (other than a Non-Serviced Mortgage Loan, a Specially Serviced Loan
or an REO Loan) with a Stated Principal Balance of (i) $2,000,000 or more at least once every twelve (12) months and
(ii) less than $2,000,000 at least once every twenty-four (24) months, in each case, commencing in the calendar
year 2020 (and each Mortgaged Property shall be inspected on or prior to December 31, 2021); provided, however,
that if a physical inspection has been performed by the Special Servicer in the previous twelve (12) months, the Master Servicer
will not be required to perform, or cause to be performed, such physical inspection; provided, further, that if
any scheduled payment becomes more than sixty (60) days delinquent on the related Mortgage Loan, the Special Servicer shall
inspect or cause to be inspected the related Mortgaged Property as soon as practicable after such Mortgage Loan becomes a Specially
Serviced Loan or REO Loan and annually thereafter for so long as such Mortgage Loan remains a Specially Serviced Loan or REO Loan.
The cost of such inspection by the Special Servicer pursuant to the second proviso of the immediately preceding sentence shall
be an expense of the Trust, and, to the extent not paid by the related Mortgagor, reimbursed first from Penalty Charges
actually received from the related Mortgagor and then from the Collection Account pursuant to Section 3.05(a)(ii), provided
that, in the case of such reimbursement relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the
terms of the related Intercreditor Agreement, with respect to a Serviced Whole Loan, first, from any related AB Subordinate Companion
Loan (if any) and then, pro rata and pari passu, from the related Serviced Pari Passu Mortgage Loan and any
related Serviced Pari Passu Companion Loan in accordance with their respective outstanding principal balances (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Intercreditor Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related
Serviced AB Mortgage Loan, any Serviced Pari Passu Companion Loans and the AB Subordinate Companion Loan), in each case, prior
to being payable out of general collections. The Special Servicer or the Master Servicer, as applicable, shall prepare or cause
to be prepared a written report of each such inspection detailing the condition of and any damage to the Mortgaged Property to
the extent evident from the inspection and specifying the existence of (i) any vacancy at the Mortgaged Property that the
preparer of such report has knowledge of and the Master Servicer or the Special Servicer, as the case may be, deems material,
(ii) any sale, transfer or abandonment of the Mortgaged Property of which the preparer of such report has knowledge or that
is evident from the inspection, (iii) any adverse change in the condition of the Mortgaged Property of which the preparer
of such report has knowledge or that is evident from the inspection, and that the Master Servicer or the Special Servicer, as
the case may be, deems material, (iv) any visible material waste committed on the Mortgaged Property of which the preparer
of such report has knowledge or that is evident from the inspection and (v) photographs of each inspected Mortgaged Property.
The Special Servicer and the Master Servicer shall promptly following preparation deliver or make available a copy (in electronic
format) of each such report prepared by the Special Servicer and the Master Servicer, respectively, to the other party, to the
Directing Certificateholder ((i) prior to the occurrence and continuance of a Control Termination Event and (ii) other
than with respect to any Excluded Loan that is a Specially Serviced Loan). Within five (5) Business Days after request for
copies of such reports by the Rating Agencies, the Special Servicer or the Master Servicer, as applicable, shall deliver or make
available a copy (in electronic format) of each such report

 

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prepared
by the Special Servicer and the Master Servicer, as applicable, to the 17g-5 Information Provider for posting to the 17g-5
Information Provider’s Website for review by NRSROs (including Rating Agencies) that are Privileged Persons. In respect
of any Mortgage Loan other than an Excluded Loan that is a Specially Serviced Loan and prior to the occurrence and continuance
of a Consultation Termination Event, the Master Servicer shall deliver or make available a copy of each such report to the Directing
Certificateholder and upon request to each Controlling Class Certificateholder (which request may state that such items may be
delivered until further notice).

 

(b)              
The Special Servicer, in the case of any Specially Serviced Loan, and the Master Servicer, in the case of any Non-Specially
Serviced Loan, shall make reasonable efforts to collect promptly and review from each related Mortgagor quarterly and annual operating
statements, financial statements, budgets and rent rolls of the related Mortgaged Property, and the quarterly and annual financial
statements of such Mortgagor, whether or not delivery of such items is required pursuant to the terms of the related Mortgage
Loan documents and any other reports or documents required to be delivered under the terms of the Mortgage Loans (and each Serviced
Companion Loan), if delivery of such items is required pursuant to the terms of the related Mortgage Loan documents. The Master
Servicer and the Special Servicer shall not be required to request such operating statements or rent rolls more than once if the
related Mortgagor is not required to deliver such statements pursuant to the terms of the Mortgage Loan documents. In addition,
the Special Servicer shall cause quarterly and annual operating statements, budgets and rent rolls to be regularly prepared in
respect of each REO Property and shall collect all such items promptly following their preparation. The Special Servicer shall
deliver all such items to the Master Servicer within five (5) Business Days of receipt, and the Master Servicer and the Special
Servicer, as applicable, shall deliver or make available copies of all the foregoing items so collected to the Trustee, the Certificate
Administrator, the Directing Certificateholder and the Depositor, in electronic format, in each case within sixty (60) days
of its receipt thereof, but in no event, in the case of annual statements, later than June 30 of each year, commencing in
2020 for the 2019 calendar year. Upon the request of any Privileged Person (other than the NRSROs) to receive copies of such items,
the Master Servicer or the Special Servicer, as the case may be, shall deliver or make available electronic copies of such items
to the Certificate Administrator to be posted on the Certificate Administrator’s Website. Upon the request of any NRSRO
to receive copies of any portion of such items, the Master Servicer or the Special Servicer, as applicable, shall deliver or make
available additional copies of the requested items so collected thereby to the 17g-5 Information Provider pursuant to Section
3.13(c).

 

Furthermore,
with respect to any Mortgage Loan (and each Serviced Companion Loan), if the related Mortgage Loan documents provide for the annual
or quarterly testing of financial conditions of the related Mortgagor and/or Mortgaged Property (e.g. debt yield tests,
debt service coverage ratio tests and/or loan-to-value ratio tests) in connection with cash management triggers or the commencement
of additional required Escrow Payments, the Special Servicer, in the case of any Specially Serviced Loan, and the Master Servicer,
in the case of any Non-Specially Serviced Loan, as applicable (only to the extent the related information required for such testing
is to be delivered to the Master Servicer or Special Servicer pursuant to the related Mortgage Loan Documents and is actually
delivered to either the Master Servicer or the Special Servicer), shall use reasonable efforts to conduct such financial testing
within the timeframes contemplated by such Mortgage Loan documents. Furthermore, in accordance with this Section 3.12(b),
with

 

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respect
to any Mortgage Loan (or Serviced Whole Loan), the Master Servicer, in the case of any Non-Specially Serviced Loans, and the Special
Servicer, in the case of Specially Serviced Mortgage Loans, shall use reasonable efforts to collect financial statements from
the related Mortgagor for the periods set forth in the related Mortgage Loan documents (e.g., and as applicable, for the
entire fiscal year where annual reporting is required).

 

In
addition, the Master Servicer (with respect to Non-Specially Serviced Loans) or the Special Servicer (with respect to Specially
Serviced Loans that are not, and REO Properties that do not relate to, Non-Serviced Mortgage Loans), as applicable, shall prepare
with respect to each Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) and REO Property:

 

(i)                
Within forty-five (45) days after receipt of a quarterly operating statement, if any, commencing for the quarter ending
on September 30, 2019, a CREFC® Operating Statement Analysis Report (but only to the extent the related Mortgagor
is required by the related Mortgage Loan documents to deliver and does deliver, or otherwise agrees to provide and does provide,
such information) for such Mortgaged Property or REO Property as of the end of that calendar quarter, provided, however,
that any analysis or report with respect to the first calendar quarter of each year will not be required to the extent provided
in the then current applicable CREFC® guidelines (it being understood that as of the Closing Date, the applicable
CREFC® guidelines provide that such analysis or report with respect to the first calendar quarter (in each year)
is not required for a Mortgaged Property or REO Property unless such Mortgaged Property or REO Property is analyzed on a trailing
12 month basis, or if the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) is on the CREFC® Servicer
Watch List). Promptly following the initial preparation and each material revision thereof, the Special Servicer shall deliver
to the Master Servicer (in electronic format) each CREFC® Operating Statement Analysis Report with respect to Specially
Serviced Loans and REO Properties, along with the related operating statements. The Master Servicer shall deliver or make available
copies (in electronic format) of each CREFC® Operating Statement Analysis Report and, upon request, the related
operating statements (in each case, promptly following the initial preparation and each material revision thereof) to the Certificate
Administrator, the Directing Certificateholder and the related Companion Holder (with respect to any Serviced Companion Loan).

 

(ii)               
Within forty-five (45) days after receipt of an annual operating statement or rent rolls (if and to the extent that any
such information is in the form of normalized year-end financial statements that have been based on a minimum number of months
of operating results as recommended by CREFC® in the instructions to the CREFC® guidelines) for
the calendar year ending December 31, 2019, a CREFC® NOI Adjustment Worksheet (but only to the extent the
related Mortgagor is required by the related Mortgage Loan documents to deliver and does deliver, or otherwise agrees to provide
and does provide, such information), presenting the computation to “normalize” the full year net operating income
and debt service coverage numbers used by the Master Servicer in preparing the CREFC® Comparative Financial Status
Report. The Master Servicer (with respect to Non-Specially Serviced Loans) or the Special Servicer (with respect to Specially
Serviced Loans and REO Properties), as applicable, shall deliver or make available copies (in electronic format) of each CREFC®
NOI Adjustment Worksheet and, upon request, the

 

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related
operating statements or rent rolls (in each case, promptly following the initial preparation and each material revision thereof)
to the Certificate Administrator, the Directing Certificateholder, the related Companion Holder (with respect to any Serviced
Companion Loan) and, upon request, the 17g-5 Information Provider, and the 17g-5 Information Provider shall post all such
items to the 17g-5 Information Provider’s Website.

 

(c)               
At or before 12:00 p.m. (New York City time) on each Determination Date, the Special Servicer shall prepare and deliver or
cause to be delivered to the Master Servicer and, prior to the occurrence and continuance of a Consultation Termination Event,
the Directing Certificateholder, the CREFC® Special Servicer Loan File and any applicable CREFC®
Loan Liquidation Reports, CREFC® Loan Modification Reports and CREFC® REO Liquidation Reports with
respect to the Specially Serviced Loans (excluding, for the Directing Certificateholder, any Excluded Loans) and any REO Properties
(other than a Non-Serviced Mortgaged Property), providing the information required of the Special Servicer in an electronic
format, reasonably acceptable to the Master Servicer as of the Business Day preceding such Determination Date, which CREFC®
Special Servicer Loan File shall include data, to enable the Master Servicer to produce the following supplemental CREFC®
reports: (i) a CREFC® Delinquent Loan Status Report, (ii) a CREFC® Historical Loan
Modification/Forbearance and Corrected Mortgage Loan Report, (iii) a CREFC® REO Status Report, (iv) a
CREFC® Comparative Financial Status Report and (v) a CREFC® NOI Adjustment Worksheet and a
CREFC® Operating Statement Analysis Report, in each case with the supporting financial statements, budgets, operating
statements and rent rolls submitted by the Mortgagor.

 

(d)              
Not later than 5:00 p.m. (New York City time) on each P&I Advance Date beginning July 2019, the Master Servicer shall prepare
(if and to the extent necessary) and deliver or cause to be delivered in electronic format to the Certificate Administrator the
following reports and data files with respect to the Mortgage Loans: (A) to the extent the Master Servicer has received the
CREFC® Special Servicer Loan File at the time required, the most recent CREFC® Delinquent Loan Status
Report, CREFC® Historical Loan Modification/Forbearance and Corrected Mortgage Loan Report and the CREFC®
REO Status Report, (B) CREFC® Loan Setup File (only with respect to the first Distribution Date), (C) the
most recent CREFC® Property File, and CREFC® Comparative Financial Status Report (in each case incorporating
the data required to be included in the CREFC® Special Servicer Loan File pursuant to Section 3.12(c) by
the Special Servicer and the Master Servicer), (D) a CREFC® Servicer Watch List with information that is current
as of such Determination Date, (E) CREFC® Financial File, (F) CREFC® Loan Level Reserve/LOC
Report, (G) the CREFC® Advance Recovery Report, (H) CREFC® Total Loan Report and (I) the
report on Disclosable Special Servicer Fees delivered pursuant to Section 3.11(e) to the extent received from the Special
Servicer, if any. Additionally, not later than 5:00 p.m. (New York City time) on the P&I Advance Date beginning July 2019,
the Master Servicer shall deliver or cause to be delivered in electronic format to the Certificate Administrator any applicable
CREFC® Loan Liquidation Reports, CREFC® Loan Modification Reports and CREFC® REO
Liquidation Reports received from the Special Servicer. Not later than 2:00 p.m. (New York City time) two (2) Business Days
prior to the Distribution Date beginning July 2019, the Master Servicer shall deliver or cause to be delivered to the Certificate
Administrator via electronic format the CREFC® Loan Periodic Update File and, to the extent received by the Master
Servicer, the CREFC® Appraisal Reduction Template, if provided for such Distribution Date. In no event shall any
report described in this subsection be required to reflect information that has not been collected

 

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by
or delivered to the Master Servicer, or any payments or collections not received by the Master Servicer, as of the close of business
on the Business Day prior to the Business Day on which the report is due.

 

Not
later than 5:00 p.m. (New York City time) two (2) calendar days following each Distribution Date (provided that if the second
calendar day is not a Business Day, then the immediately succeeding Business Day) beginning in July 2019, the Master Servicer
shall deliver to the Certificate Administrator the CREFC® Schedule AL File in EDGAR Compatible Format provided,
however, that the Master Servicer shall have no obligation to prepare or deliver the CREFC® Schedule AL
File unless the Depositor has delivered the items required pursuant to Section 2.01(i). If the Certificate Administrator
does not receive such CREFC® Schedule AL File from the Master Servicer by 5:00 p.m. (New York City time) on
the date specified in the immediately preceding sentence, it shall immediately request such CREFC® Schedule AL
File from the Master Servicer via email at NoticeAdmin@midlandls.com and send a copy of such request to the Depositor via email
to daniel.vinson@barclays.com. In preparing the CREFC® Schedule AL File and any Schedule AL Additional File for
any given Distribution Date, and without any due diligence, investigation or verification, the Master Servicer shall be entitled
to conclusively rely, absent manifest error, on the content, completeness, accuracy and compliance with any applicable requirements
of Items 1111(h) and 1125 of Regulation AB and Item 601(b) of Regulation S-K under the Securities Act as in effect on the Closing
Date of the Initial Schedule AL File, any Initial Schedule AL Additional File and Annex A-1 to the Prospectus. The Master
Servicer may concurrently with the delivery of the related CREFC® Schedule AL File, deliver any related Schedule
AL Additional File in EDGAR Compatible Format. The CREFC® Schedule AL File and the Schedule AL Additional File
shall each be a single file. Neither the Certificate Administrator nor the Master Servicer shall be required to combine multiple
CREFC® Schedule AL Files or Schedule AL Additional Files unless, solely with respect to the Master Servicer, multiple
Sub-Servicers prepare and submit such CREFC® Schedule AL Files or Schedule AL Additional Files to the Master Servicer.
The Certificate Administrator shall not be required to review, redact, reconcile, edit or verify the content, completeness or
accuracy of the information contained in any CREFC® Schedule AL File or Schedule AL Additional File. The Certificate
Administrator shall not be deemed to have actual knowledge of the contents of any CREFC® Schedule AL File or Schedule
AL Additional File solely by its receipt thereof.

 

In
the absence of manifest error, the Master Servicer shall be entitled to conclusively rely upon, without investigation or inquiry,
any information and reports delivered to it by any third party, and the Certificate Administrator shall be entitled to conclusively
rely upon the Master Servicer’s reports and any information provided by the Trustee, without any duty or obligation to recompute,
verify or recalculate any of the amounts and other information stated therein.

 

(e)               
The Special Servicer shall deliver to the Master Servicer the reports and information required of the Special Servicer pursuant
to Section 3.11(e), Section 3.12(b) and Section 3.12(c), and the Master Servicer shall deliver or make available
to the Certificate Administrator the reports and data files set forth in Section 3.12(d). The Master Servicer may, absent
manifest error, conclusively rely on the reports and/or data to be provided by the Special Servicer pursuant to Section 3.11(e),
Section 3.12(b) and Section 3.12(c). The Certificate Administrator may, absent manifest error, conclusively rely
on the reports and/or data to be

 

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provided
by the Master Servicer pursuant to Section 3.12(d). In the case of information or reports to be furnished by the Master
Servicer to the Certificate Administrator pursuant to Section 3.12(d), to the extent that such information or reports are,
in turn, based on information or reports to be provided by the Special Servicer pursuant to Section 3.11(e), Section
3.12(b) or Section 3.12(c) and to the extent that such reports are to be prepared and delivered by the Special Servicer
pursuant to Section 3.11(e), Section 3.12(b) or Section 3.12(c), the Master Servicer shall have no obligation
to provide such information or reports to the Certificate Administrator until it has received the requisite information or reports
from the Special Servicer, and the Master Servicer shall not be in default hereunder due to a delay in providing the reports required
by Section 3.12(d) caused by the Special Servicer’s failure to timely provide any information or report required
under Section 3.11(e), Section 3.12(b) or Section 3.12(c) of this Agreement.

 

(f)               
Notwithstanding the foregoing, however, the failure of the Master Servicer or the Special Servicer to disclose any information
otherwise required to be disclosed by this Section 3.12 shall not constitute a breach of this Section 3.12 to the
extent the Master Servicer or the Special Servicer so fails because such disclosure, in the reasonable belief of the Master Servicer
or the Special Servicer, as the case may be, would violate any applicable law or any provision of a Mortgage Loan document prohibiting
disclosure of information with respect to the Mortgage Loans or Mortgaged Properties. The Master Servicer and the Special Servicer
may disclose any such information or any additional information to any Person so long as such disclosure is consistent with applicable
law and the Servicing Standard. The Master Servicer or the Special Servicer may affix to any information provided by it any disclaimer
it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).

 

(g)              
Unless otherwise specifically stated herein, if the Master Servicer or the Special Servicer is required to deliver or make available
any statement, report or information under any provisions of this Agreement, the Master Servicer or the Special Servicer, as the
case may be, may satisfy such obligation by (x) physically delivering a paper copy of such statement, report or information,
(y) delivering such statement, report or information in a commonly used electronic format or (z) making such statement,
report or information available on the Master Servicer’s website (with respect to items delivered by the Master Servicer)
or the Certificate Administrator’s Website, unless this Agreement expressly specifies a particular method of delivery.

 

Notwithstanding
anything to the contrary in the foregoing, the Master Servicer and the Special Servicer shall deliver any required statements,
reports or other information to the Certificate Administrator in an electronic format mutually agreeable to the Certificate Administrator
and the Master Servicer or the Special Servicer, as the case may be. The Master Servicer or the Special Servicer may physically
deliver a paper copy of any such statement, report or information as a temporary measure due to system problems, however, copies
in electronic format shall follow upon the correction of such system problems.

 

Section
3.13        Access to Certain Information. (a) Each of the Master Servicer and the Special
Servicer shall provide or cause to be provided to the Certificate Administrator, and the Certificate Administrator shall afford
access to any Mortgage Loan Seller and to any Certificateholder that is a federally insured financial institution, the OCC, the
FDIC, the Board of Governors of the Federal Reserve System of the United States of America and the supervisory agents and examiners
of such boards and such corporations, and any other federal or state banking

 

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or
insurance regulatory authority that may exercise authority over any such Certificateholder, and to each Holder of a Non-Registered
Certificate, access to any documentation or information regarding the Mortgage Loans (other than any Non-Serviced Mortgage Loan)
and, in the case of a Mortgage Loan that is a portion of a Serviced Whole Loan, the related Companion Loan, and the Trust within
its control which may be required by applicable law. At the election of the Master Servicer, the Special Servicer or the Certificate
Administrator, such access may be afforded to such Person identified above by the delivery of copies of information as requested
by such Person and the Master Servicer, the Special Servicer or the Certificate Administrator shall be permitted to require payment
(other than from the Directing Certificateholder and the Trustee and the Certificate Administrator on its own behalf or on behalf
of the Certificateholders, as applicable) of a sum sufficient to cover the reasonable out-of-pocket costs incurred by it in making
such copies. Such access shall (except as described in the preceding sentence) be afforded without charge but only upon reasonable
prior written request and during normal business hours at the offices of the Certificate Administrator or the Custodian.

 

The
failure of the Master Servicer or the Special Servicer to provide access as provided in this Section 3.13 as a result of
a confidentiality obligation shall not constitute a breach of this Section 3.13. In connection with providing information
pursuant to this Section 3.13, the Master Servicer and Special Servicer may each (i) affix a reasonable disclaimer
to any information provided by it for which it is not the original source (without suggesting liability on the part of any other
party hereto); (ii) affix to any information provided by it a reasonable statement regarding securities law restrictions
on such information and/or condition access to information on (x) the execution of a confidentiality agreement substantially
in the form of Exhibit X, or (y) execution of a “click-through” confidentiality agreement if such
information is being provided through the Master Servicer’s website or the Special Servicer’s website (if any); (iii) withhold
access to confidential information or any intellectual property; and/or (iv) withhold access to items of information contained
in the Servicing File for any Mortgage Loan if the disclosure of such items is prohibited by applicable law or the provisions
of any related Mortgage Loan documents or would constitute a waiver of the attorney-client privilege. Notwithstanding any provision
of this Agreement to the contrary, the failure of the Master Servicer or the Special Servicer to disclose any information otherwise
required to be disclosed by it pursuant to this Agreement shall not constitute a breach of this Agreement to the extent that the
Master Servicer or the Special Servicer, as the case may be, determines, in its reasonable good faith judgment consistent with
the applicable Servicing Standard, that such disclosure would violate applicable law or any provision of a Mortgage Loan or Companion
Loan document prohibiting disclosure of information with respect to the Mortgage Loans or Companion Loans or the Mortgaged Properties,
constitute a waiver of the attorney-client privilege on behalf of the Trust or otherwise materially harm the Trust. Without limiting
the generality of the foregoing, the Master Servicer or the Special Servicer may refrain from disclosing information that it reasonably
determines would prejudice the interests of the Certificateholders with respect to a workout or exercise of remedies as to any
particular Mortgage Loan.

 

Notwithstanding
the limitation set forth in the next succeeding paragraph, but subject to the last sentence of the immediately preceding paragraph,
upon the reasonable request of any Certificateholder (or with respect to any AB Subordinate Companion Loan related to a Serviced
AB Whole Loan, the holder of such AB Subordinate Companion Loan) that has delivered an Investor Certification to the Master Servicer
or the Special Servicer, as the case may be, the

 

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Master
Servicer (with respect to Non-Specially Serviced Loans) or the Special Servicer (with respect to Specially Serviced Loans), as
applicable, may provide (or make available electronically) or make available at the expense of such Certificateholder or holder
of such AB Subordinate Companion Loan, as applicable, copies of any appraisals, operating statements, rent rolls and financial
statements (in each case, solely relating to the related Serviced Whole Loan or Serviced AB Whole Loan, if requested by the holder
of an AB Subordinate Companion Loan, as the case may be) obtained by the Master Servicer or the Special Servicer, as the case
may be; provided that, in connection with such request, the Master Servicer or the Special Servicer, as applicable, may
require a written confirmation executed by the requesting Person substantially in such form as may be reasonably acceptable to
the Master Servicer or the Special Servicer, as applicable, generally to the effect that such Person will keep such information
confidential and shall use such information only for the purpose of analyzing asset performance and evaluating any continuing
rights the Certificateholder or holder of such AB Subordinate Companion Loan, as applicable, may have under this Agreement.

 

Notwithstanding
anything to the contrary herein (other than as permitted in the preceding paragraph with respect to any Certificateholder or as
specifically provided for herein with respect to the Directing Certificateholder), unless required by applicable law or court
order, no Certificateholder (except, with respect to a Mortgage Loan Seller, to the extent necessary for such party to comply
with its obligations under the related Mortgage Loan Purchase Agreement, and except for the Master Servicer and the Certificate
Administrator, acting in such capacities) or beneficial owner shall be given access to, or be provided copies of, the Mortgage
Files or Diligence Files.

 

(b)              
The Certificate Administrator shall make available to Privileged Persons (provided that the Prospectus, Distribution Date
Statements, Mortgage Loan Purchase Agreements, this Agreement and the Commission EDGAR filings referred to below will be available
to the general public) via the Certificate Administrator’s Website, the following items, in each case, to the extent such
items were prepared by or delivered to the Certificate Administrator in electronic format:

 

(i)                
The following documents, which will initially be made available under a tab or heading designated “deal documents”:

 

(A)            
the Prospectus and any other disclosure document relating to the Registered Certificates, in the form most recently provided to
the Certificate Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)            
this Agreement and any amendments and exhibits hereto;

 

(C)           
any Sub-Servicing Agreements delivered to the Certificate Administrator on or after the Closing Date;

 

(D)            
the Mortgage Loan Purchase Agreements and any amendments and exhibits thereto; and

 

(E)            
the CREFC® Loan Setup File provided by the Master Servicer to the Certificate Administrator;

 

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(ii)           the following documents, which will initially be made available under a tab or heading designated “SEC EDGAR filings”;

 

(A)           
any reports on Forms 10-D, ABS-EE, 10-K and 8-K that have been filed by the Certificate Administrator with respect
to the Trust through the EDGAR system;

 

(iii)          The following documents, which will initially be made available under a tab or heading designated “periodic reports”:

 

(A)           
all Distribution Date Statements prepared by the Certificate Administrator pursuant to Section 4.02;

 

(B)            
the CREFC® Loan Periodic Update File, the CREFC® Bond Level File, the CREFC® Collateral
Summary File, the CREFC® Property File, the CREFC® Financial File, each of the “surveillance
reports” identified as such in the definition of “CREFC® Investor Reporting Package” (including,
without limitation, the CREFC® Operating Statement Analysis Report and the CREFC® NOI Adjustment
Worksheets), the CREFC® Advance Recovery Report to the extent delivered by the Master Servicer pursuant to this
Agreement from time to time; and

 

(C)           
all Operating Advisor Annual Reports provided by the Operating Advisor to the Certificate Administrator;

 

(iv)          The following documents, which will initially be made available under a tab or heading designated “additional documents”:

 

(A)          
summaries of Final Asset Status Reports or, prior to an AB Control Appraisal Period, summaries of Asset Status Reports approved
by the holder of the related Companion Loan, and related information delivered to the Certificate Administrator pursuant to Section
3.19(d);

 

(B)           
all property inspection reports and environmental reports delivered to the Certificate Administrator pursuant to Section 3.12(a);

 

(C)           
any Appraisals delivered to the Certificate Administrator pursuant to Section 3.19;

 

(D)           
a detailed worksheet showing the calculation of each Appraisal Reduction Amount, Collateral Deficiency Amount, and Cumulative
Appraisal Reduction Amount on a current and cumulative basis; and

 

(E)             
the CREFC® Appraisal Reduction Template;

 

(v)           The following documents, which will initially be made available under a tab or heading designated “special notices”:

 

(A)           
any notice with respect to a release pursuant to Section 3.09(d);

 

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(B)            
any notice regarding a waiver, modification or amendment of the terms of any Mortgage Loan pursuant to Section 3.18(g);

 

(C)           
any notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 4.01(h);

 

(D)           
any notice of the occurrence of any Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered
pursuant to Section 7.01;

 

(E)            
any notice of the Certificate Administrator’s determination that an Asset Review Trigger has occurred and any other notice
required to be delivered to the Certificateholders pursuant to Section 12.01;

 

(F)            
any Asset Review Report Summary received by the Certificate Administrator;

 

(G)           
any notice of the termination of the Sub-Servicer delivered pursuant to Section 3.20(g);

 

(H)           
any notice of resignation of the Trustee or the Certificate Administrator, and any notice of the acceptance of appointment by
the successor trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(I)              
any Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(J)             
any notice of resignation or termination of the Master Servicer or the Special Servicer pursuant to Section 7.03;

 

(K)           
any notice of termination pursuant to Section 9.01;

 

(L)            
any notice of resignation or termination of the Operating Advisor or the Asset Representations Reviewer and any notice of the
acceptance of appointment by the successor operating advisor or the successor asset representations reviewer pursuant to Section
3.26 or Section 12.03, respectively;

 

(M)          
any notice of any request by requisite percentage of Certificateholders for a vote to terminate the Special Servicer pursuant
to Section 7.01(d), the Operating Advisor pursuant to Section 3.26(j) or the Asset Representations Reviewer pursuant
to Section 12.05(b);

 

(N)          
any notice of recommendation of termination of the Special Servicer by the Operating Advisor and the related report prepared by
the Operating Advisor in connection with such recommendation;

 

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(O)           
any notice that a Control Termination Event has occurred or is terminated or that a Consultation Termination Event has occurred
or is terminated (provided that with respect to a Control Termination Event or a Consultation Termination Event deemed
to exist due solely to the existence of an Excluded Loan, the Certificate Administrator will only be required to make available
such notice of the occurrence and continuance of a Control Termination Event or the notice of the occurrence and continuance of
a Consultation Termination Event to the extent the Certificate Administrator has been notified of such Excluded Loan);

 

(P)            
any notice that an Operating Advisor Consultation Event has occurred or is terminated;

 

(Q)           
any notice of the occurrence of an Operating Advisor Termination Event;

 

(R)            
any notice of the occurrence of an Asset Representations Reviewer Termination Event;

 

(S)            
any assessments of compliance delivered to the Certificate Administrator; and

 

(T)            
any attestation reports delivered to the Certificate Administrator;

 

(U)           
any “special notices” required by a Certificateholder to be posted on the Certificate Administrator’s website
pursuant to Section 5.06;

 

(V)           
any Proposed Course of Action Notice; and

 

(W)         
Any notice or documents provided to the Certificate Administrator by the Depositor or the Master Servicer directing the Certificate
Administrator to post to the “Special Notices” tab;

 

(vi)             
the “Investor Q&A Forum” pursuant to Section 4.07(a);

 

(vii)            
solely to Certificateholders and Certificate Owners that are Privileged Persons, the “Investor Registry” pursuant
to Section 4.07(b); and

 

(viii)          
the “U.S. Risk Retention Special Notices” tab, which will contain any notices relating to (A) ongoing compliance
by the Retaining Sponsor with the Risk Retention Rules and (B) any noncompliance by the Third Party Purchaser or a successor
third party purchaser with the applicable provisions of the Risk Retention Rules;

 

provided
that with respect to a Control Termination Event or Consultation Termination Event that is deemed to exist due solely to the
existence of an Excluded Loan, the Certificate Administrator will only be required to provide notice of the occurrence and continuance
of such event if it has been notified of or has knowledge of the existence of such Excluded Loan.

 

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The
Certificate Administrator shall post on the Certificate Administrator’s Website the items and reports identified in clauses (iii)(A)
and (B) above on each Distribution Date. In addition, if the Depositor so directs the Certificate Administrator, and on terms
acceptable to the Certificate Administrator, the Certificate Administrator shall make certain other information and reports related
to the Mortgage Loans available through its Internet website.

 

Notwithstanding
the foregoing, all Excluded Information shall be made available under a separate tab or heading designated “Excluded Information”
on the Certificate Administrator’s Website (and not under any of the tabs or headings described in items (i) through
(vii) above) and made available to Privileged Persons other than any Excluded Controlling Class Holder that is a Borrower
Party (unless a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access
shall only be prohibited with respect to the related Excluded Loan(s)).

 

Any
Person that is a Borrower Party shall only be entitled to access (a) the Distribution Date Statements, and the following
items made available to the general public: the Prospectus, this Agreement, the Mortgage Loan Purchase Agreements and the Commission
filings on the Certificate Administrator’s Website, and (b) in the case of the Directing Certificateholder or a Controlling
Class Certificateholder, if any such Person becomes an Excluded Controlling Class Holder, upon delivery to the Master Servicer,
the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee in physical form (or, solely with respect
to the Master Servicer or the Special Servicer, in electronic form) of an investor certification substantially in the form of
Exhibit P-1D and upon delivery to the Certificate Administrator in physical form of an investor certification
substantially in the form of Exhibit P-1F, which shall include each of the CTSLink User ID associated with such
Excluded Controlling Class Holder, all information (other than the Excluded Information with respect to any Excluded Loans (unless
a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access shall only be prohibited
with respect to the related Excluded Loans)) available on the Certificate Administrator’s Website.

 

In
the case of the Directing Certificateholder or a Controlling Class Certificateholder that is not an Excluded Controlling Class
Holder, upon delivery of an investor certification substantially in the form of Exhibit P-1B hereto, such Directing
Certificateholder or Controlling Class Certificateholder shall be entitled to access all information on the Certificate Administrator’s
Website. The Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee may each
rely on (i) an investor certification in the form of Exhibit P-1B hereto from the Directing Certificateholder
or a Controlling Class Certificateholder to the effect that such Person is not an Excluded Controlling Class Holder and (ii) an
investor certification in the form of Exhibit P-1D in physical form (or, solely with respect to the Master Servicer
or the Special Servicer, in electronic form) hereto from the Directing Certificateholder or a Controlling Class Certificateholder
to the effect that such Person is an Excluded Controlling Class Holder with respect to one or more Excluded Loan(s). In the event
the Directing Certificateholder or a Controlling Class Certificateholder becomes an Excluded Controlling Class Holder, such party
shall promptly notify each of the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator
and the Trustee in writing substantially in the form of Exhibit P-1E that such party has become an Excluded Controlling
Class Holder with respect to the Excluded Loan(s) listed in such notice and shall also provide the

 

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Certificate
Administrator a notice substantially in the form of Exhibit P-1F listing each of the CTSLink User ID associated
with such Excluded Controlling Class Holder and directing the Certificate Administrator to restrict such Excluded Controlling
Class Holder’s access to the Certificate Administrator’s Website as and to the extent provided in this Agreement.
Upon confirmation from the Certificate Administrator that such access has been restricted, such Excluded Controlling Class Holder
shall submit a new investor certification substantially in the form of Exhibit P-1D in physical form (or, solely
with respect to the Master Servicer or the Special Servicer, in electronic form) to access the information on the Certificate
Administrator’s Website, except that such Excluded Controlling Class Holder shall not be entitled to access any Excluded
Information related to any Excluded Loan(s) (unless a loan-by-loan segregation is later performed by the Certificate Administrator
in which case such access shall only be prohibited with respect to the related Excluded Loan(s)) made available on the Certificate
Administrator’s Website. With respect to any Excluded Information sent for posting on the Certificate Administrator’s
Website, each of the Master Servicer, the Special Servicer and the Operating Advisor shall mark or label such information as “Excluded
Information” prior to delivery to the Certificate Administrator, and the Certificate Administrator shall segregate on the
Certificate Administrator’s Website such Excluded Information (and, if possible at a later time, on loan-by-loan basis)
from information relating to other Mortgage Loans or Whole Loans, as applicable.

 

Notwithstanding
anything herein to the contrary, each of the Master Servicer, the Special Servicer, the Operating Advisor and the Certificate
Administrator shall be entitled to conclusively assume that the Directing Certificateholder and all beneficial owners of the Certificates
of the Controlling Class are not Excluded Controlling Class Holders except to the extent that the Master Servicer, the Special
Servicer, the Operating Advisor or the Certificate Administrator, as the case may be, has received a notice substantially in the
form of Exhibit P-1E from the Directing Certificateholder or a Controlling Class Certificateholder that it has
become an Excluded Controlling Class Holder. None of the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate
Administrator shall be liable for any communication to the Directing Certificateholder or a Controlling Class Certificateholder
that is an Excluded Controlling Class Holder or disclosure of any information relating to an Excluded Loan (including any related
Excluded Information delivered to the Certificate Administrator for posting to the Certificate Administrator’s Website)
if the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator, as the case may be, did
not receive prior written notice that the related Mortgage Loan is an Excluded Loan and/or, with respect to any related Excluded
Information posted on the Certificate Administrator’s Website, such information was not delivered to the Certificate Administrator
in accordance with Section 3.33.

 

Each
of the Master Servicer, the Special Servicer, the Operating Advisor and the Certificate Administrator shall be entitled to conclusively
rely on delivery from the Directing Certificateholder or a Controlling Class Certificateholder of an investor certification substantially
in the form of Exhibit P-1B that it is not or is no longer an Excluded Controlling Class Holder. To the extent
the Directing Certificateholder or a Controlling Class Certificateholder receives access pursuant to this Agreement to any Excluded
Information on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information, such Directing
Certificateholder or Controlling Class Certificateholder shall be deemed to have agreed that it (i) will not directly or
indirectly provide any such Excluded Information to (A) the related Borrower Party, (B) any related Excluded Controlling
Class Holder, (C) any employees or

 

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personnel
of such Directing Certificateholder or Controlling Class Certificateholder or any of its Affiliates involved in the management
of any investment in the related Borrower Party or the related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate
that holds a direct or indirect ownership interest in the related Borrower Party, and (ii) will maintain sufficient internal
controls and appropriate policies and procedures in place in order to comply with the obligations described in clause (i)
above.

 

The
Certificate Administrator makes no representation or warranty as to the accuracy or completeness of any report, document or other
information made available on its Internet website and assumes no responsibility therefor, other than with respect to such reports,
documents or other information prepared by the Certificate Administrator. In addition, the Certificate Administrator may disclaim
responsibility for any information distributed by it for which it is not the original source. Notwithstanding anything herein
to the contrary, the Certificate Administrator shall not be liable for any disclosure of information relating to any Excluded
Loan to the extent such information was included in the summary of a Final Asset Status Report delivered to the Certificate Administrator
for posting to the Certificate Administrator’s Website and not properly identified as relating to any Excluded Loan.

 

In
connection with providing access to the Certificate Administrator’s Website (other than with respect to access provided
to the general public in accordance with Section 3.13(b), the Certificate Administrator may require registration and the
acceptance of a disclaimer. The Certificate Administrator shall not be liable for the dissemination of information in accordance
herewith. Questions regarding the Certificate Administrator’s Website can be directed to the Certificate Administrator’s
CMBS customer service desk at (866) 846-4526.

 

(c)               
The 17g-5 Information Provider shall make available solely to the Depositor and the NRSROs the following items to the extent
such items are delivered to it (in the form of an electronic document suitable for posting) via electronic mail at 17g5informationprovider@wellsfargo.com,
specifically with a subject reference of “BBCMS 2019-C3” and an identification of the type of information being provided
in the body of such electronic mail; or via any alternative electronic mail address following notice to the parties hereto or
any other delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial:

 

(i)                
any notices of waivers under Section 3.08(d);

 

(ii)               
any Asset Status Report delivered by the Special Servicer under Section 3.19(d);

 

(iii)              
any notice of final payment on the Certificates;

 

(iv)             
any environmental reports delivered by the Special Servicer under Section 3.09(c);

 

(v)               
any Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.19;

 

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(vi)             
any annual statements as to compliance and related Officer’s Certificates delivered under Section 11.09 or Section
11.10;

 

(vii)            
any annual independent public accountants’ attestation reports delivered pursuant to Section 11.11;

 

(viii)          
any notice to the Rating Agencies relating to the Special Servicer’s determination to take action without receiving Rating
Agency Confirmation from any Rating Agency as set forth in Section 3.25(a);

 

(ix)              
copies of requests or questions that were submitted by the Rating Agencies relating to a request for Rating Agency Confirmation;

 

(x)               
any requests for Rating Agency Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.25(a);

 

(xi)            
any notice of resignation of the Trustee or the Certificate Administrator and any notice of the acceptance of appointment by the
successor trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(xii)            
any Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(xiii)          
any notice of a Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered pursuant to
Section 7.01;

 

(xiv)          
any notice of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09;

 

(xv)           
any notice of any amendment that modifies the procedures herein relating to Rule 17g-5 of the Exchange Act pursuant to
Section 13.01(a)(ix);

 

(xvi)          
any Operating Advisor Annual Report pursuant to Section 3.26;

 

(xvii)        
any summary of oral communication with the Rating Agencies or any written question or request from the Rating Agencies directed
toward the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee regarding any of the information
delivered to the 17g-5 Information Provider pursuant to this Section 3.13(c) or regarding any request for a Rating
Agency Confirmation or regarding any of the Mortgage Loan documents or any matter related to the Certificates, Mortgage Loans,
any related Companion Loan, the related Mortgaged Properties, the related Mortgagors or any other matters related to this Agreement
or any applicable Intercreditor Agreement; provided that the summary of such oral communication shall not identify the
Rating Agency with whom the communication was held pursuant to Section 3.13(g);

 

(xviii)       
any other information delivered to the 17g-5 Information Provider pursuant to this Agreement including, without limitation,
Section 2.03(b), Section 3.07(a), Section 3.12, Section 3.17, Section 3.18(g); Section 11.09
or Section 11.10; and

 

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(xix)          
any other information delivered to the Rating Agencies pursuant to this Agreement including, without limitation, Section 13.10.

 

The
foregoing information shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s
Website. Information will be posted on the same Business Day of receipt unless such information is received after 2:00 p.m.,
New York City time, on such Business Day, in which case, it shall be posted by 12:00 p.m., New York City time, on the next
Business Day. The 17g-5 Information Provider shall have no obligation or duty to verify, confirm or otherwise determine whether
the information being delivered is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than
what it purports to be. In the event that any information is delivered or posted in error, each of the Certificate Administrator
and the 17g-5 Information Provider may remove such information from the 17g-5 Information Provider’s Website. The
Certificate Administrator and the 17g-5 Information Provider have not obtained and shall not be deemed to have obtained actual
knowledge of any information merely by posting such information to the Certificate Administrator’s Website or the 17g-5
Information Provider’s Website to the extent such information was not produced by the Certificate Administrator or the 17g-5
Information Provider, as applicable. Access will be provided by the 17g-5 Information Provider to the NRSROs upon receipt
of an NRSRO Certification in the form of Exhibit P-2 hereto (which certification may be submitted electronically
via the 17g-5 Information Provider’s Website). Questions regarding delivery of information to the 17g-5 Information
Provider may be directed to (866) 846-4526 or 17g5informationprovider@wellsfargo.com (specifically referencing “BBCMS
2019-C3” in the subject line).

 

Upon
delivery by the Depositor to the 17g-5 Information Provider of information designated by the Depositor as pre-closing
information from the Depositor’s 17g-5 Website (the “Pre-Close Information”), the 17g-5 Information
Provider shall make such information available only to the Depositor and to NRSROs via the 17g-5 Information Provider’s
Website pursuant to this Section 3.13(c). Such information shall be provided to the 17g-5 Information Provider via
electronic media and delivered to the 17g-5 Information Provider as mutually agreed. The Depositor shall not be entitled to
direct the 17g-5 Information Provider to provide access to the Pre-Close Information or any other information on the 17g-5
Information Provider’s Website to any designee or third party.

 

Upon
request of the Depositor or the Rating Agencies, the 17g-5 Information Provider shall post on the 17g-5 Information Provider’s
Website any additional information requested by the Depositor or the Rating Agencies to the extent such information is delivered
to the 17g-5 Information Provider electronically in accordance with this Section 3.13. In no event shall the 17g-5
Information Provider disclose on the 17g-5 Information Provider’s Website the Rating Agency that requested such additional
information.

 

The
17g-5 Information Provider shall provide a mechanism to notify each Person that has signed-up for access to the 17g-5
Information Provider’s Website in respect of the transaction governed by this Agreement each time an additional document
is posted to the 17g-5 Information Provider’s Website. The 17g-5 Information Provider shall notify any party that
delivers any information, report, notice or document to the 17g-5 Information Provider under this

 

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Agreement
that such information, report, notice or document was received and that it has been posted.

 

Any
information required to be delivered to the 17g-5 Information Provider by any party under this Agreement shall be delivered
to it via electronic mail at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “BBCMS 2019-C3”
and an identification of the type of information being provided in the body of such electronic mail, or via any alternative electronic
mail address following notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information
Provider.

 

(d)              
The Master Servicer or the Special Servicer, as applicable, may, but shall not be obligated to, provide bulk information that
relates to two or more transactions to the 17g-5 Information Provider. Any such information shall be posted by the 17g-5
Information Provider and the 17g-5 Information Provider may, but shall not be obligated to, post such information in accordance
with the timeframe provided in Section 3.13(c) above; provided, however, that if the 17g-5 Information
Provider is not able to post such information in accordance with the timeframe in Section 3.13(c), then it shall post such
information within a reasonable time.

 

(e)               
Certain information concerning the Mortgage Loans and the Certificates (including the Distribution Date Statements, CREFC®
reports and supplemental notices with respect to such Distribution Date Statements and CREFC® reports) shall
be provided by the Certificate Administrator at the direction of the Depositor to third parties (including Bloomberg, L.P., Trepp,
LLC, Intex Solutions, Inc., Interactive Data Corp., Markit Group Limited and BlackRock Financial Management, Inc., CMBS.com, Inc.,
Moody’s Analytics, MBS Data LLC, RealInsight and Thomson Reuters Corporation) with the consent of the Depositor, and providing
such information shall not constitute a breach of this Agreement by the Certificate Administrator. Such information will be made
available to such third parties upon receipt of a certificate in the form of Exhibit P-3 hereto, which certification
may be submitted electronically via the Certificate Administrator’s Website.

 

(f)                
Each of the Master Servicer and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt,
also deliver, produce or otherwise make available through its website or otherwise, any additional information relating to the
Mortgage Loans (other than any Non-Serviced Mortgage Loan), any related Serviced Companion Loan, the Mortgaged Properties (other
than any Non-Serviced Mortgaged Property), or the related Mortgagors, for review by the Depositor, the Underwriters and any other
Persons who deliver an Investor Certification in accordance with this Section 3.13 and the Rating Agencies (collectively,
the “Disclosure Parties”) (in the case of deliveries to a Rating Agency, only to the extent such additional
information is simultaneously delivered to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s
Website in accordance with the provisions of Section 3.13(c)), in each case, except to the extent doing so is prohibited
by this Agreement (including without limitation, any prohibitions on dissemination of any confidential information, including,
without limitation, any Privileged Information), applicable law or by the related Mortgage Loan documents. Each of the Master
Servicer and the Special Servicer shall be entitled to (i) indicate the source of such information and affix thereto any
disclaimer it deems appropriate in its discretion and/or (ii) require that the recipient of such information (A) except
for the Depositor and the Rating Agencies, enter into (x) an Investor Certification, (y) a confidentiality agreement

 

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substantially
in the form of Exhibit X or (z) a “click-through” confidentiality agreement if such information is
being provided through the Master Servicer’s website or the Special Servicer’s website (if any), and (B) acknowledge
that the Master Servicer or the Special Servicer may contemporaneously provide such information to any other Disclosure Party.
In addition, to the extent access to such information is provided via the Master Servicer’s website or the Special Servicer’s
website (if any), the Master Servicer and the Special Servicer may require registration and the acceptance of a reasonable and
customary disclaimer and/or an additional or alternative agreement as to the confidential nature of such information. In connection
with providing access to or copies of the information described in this Section 3.13(f) to current or prospective Certificateholders
the form of confidentiality agreement used by the Master Servicer or the Special Servicer, as applicable, shall be: (i) in
the case of a Certificateholder, an Investor Certification executed by the requesting Person indicating that such Person is a
Holder of Certificates and will keep such information confidential (except that such Certificateholder may provide such information
(x) to its auditors, legal counsel and regulators and (y) to any other Person that holds or is contemplating the purchase
of any Certificate or interest therein (provided that such other Person confirms in writing such ownership interest or
prospective ownership interest and agrees to keep such information confidential)); and (ii) in the case of a prospective
purchaser of Certificates or interests therein or an investment advisor related thereto, an Investor Certification indicating
that such Person is a prospective purchaser of a Certificate or an interest therein or an investment advisor related thereto and
is requesting the information for use in evaluating a possible investment in Certificates and will otherwise keep such information
confidential with no further dissemination (except that such Certificateholder may provide such information to its auditors, legal
counsel and regulators). In the case of a licensed or registered investment advisor acting on behalf of a current or prospective
Certificateholder, the Investor Certification shall be executed and delivered by both the investment advisor and such current
or prospective Certificateholder.

 

Neither
the Master Servicer nor the Special Servicer shall be liable for its dissemination of information in accordance with this Agreement
or by others in violation of the terms of this Agreement. Neither the Master Servicer nor the Special Servicer shall be responsible
or have any liability for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant
to this Section 3.13 unless such information was produced by the Master Servicer or the Special Servicer, as the case may
be.

 

(g)               
The Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall be permitted (but not obligated)
to orally communicate with the Rating Agencies regarding any of the Mortgage Loan documents and any other matter related to the
Mortgage Loans, the related Mortgaged Properties, the related Mortgagors or any other matters relating to this Agreement or related
Intercreditor Agreement; provided that such party summarizes the information provided to the Rating Agencies in such communication
in writing and provides the 17g-5 Information Provider with such written summary in accordance with the procedures set forth
in Section 3.13(c) the same day such communication takes place; provided, further, that the summary of such
oral communications shall not identify which Rating Agency the communication was with. The 17g-5 Information Provider shall
post such written summary on the 17g-5 Information Provider’s Website in accordance with the procedures set forth in
Section 3.13(c).

 

(h)               
Without limiting the Operating Advisor’s consultation rights pursuant to Section 6.08, the Special Servicer shall
provide to the Operating Advisor prior to an Operating

 

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Advisor
Consultation Event, Final Asset Status Reports and approved or deemed approved Major Decision Reporting Packages (only with respect
to any Specially Serviced Loans) and after an Operating Advisor Consultation Event, Asset Status Reports and Major Decision Reporting
Packages. In addition, the Special Servicer, subject to the limitations on delivery of Privileged Communications, shall provide
to the Operating Advisor such reports and other information produced or otherwise available to the Directing Certificateholder
(other than, prior to the occurrence and continuance of an Operating Advisor Consultation Event, any Asset Status Reports that
are not Final Asset Status Reports), or Certificateholders generally, requested by the Operating Advisor in support of the performance
of its obligations under this Agreement in electronic format.

 

(i)                
None of the foregoing restrictions in this Section 3.13 or otherwise in this Agreement shall prohibit or restrict oral
or written communications, or providing information, between the Master Servicer, the Operating Advisor, the Asset Representations
Reviewer or the Special Servicer, on the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such
Rating Agency’s or NRSRO’s review of the ratings it assigns to the Master Servicer, the Operating Advisor, the Asset
Representations Reviewer or the Special Servicer, as the case may be, (ii) such Rating Agency’s or NRSRO’s approval
of the Master Servicer, the Operating Advisor, the Asset Representations Reviewer or the Special Servicer, as applicable, as a
commercial mortgage master, special or primary servicer, or (iii) such Rating Agency’s or NRSRO’s evaluation
of the Master Servicer’s, the Operating Advisor, the Asset Representations Reviewer’s or the Special Servicer’s,
as the case may be, servicing operations in general; provided that the Master Servicer, the Operating Advisor, the Asset
Representations Reviewer or the Special Servicer, as applicable, shall not provide any information relating to the Certificates
or the Mortgage Loans, to any Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO
unless (x) Mortgagor, property and other deal specific identifiers are redacted; (y) such information has already been
provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider’s Website
or (z) the Rating Agency confirms that it does not intend to use such information in undertaking credit rating surveillance
with respect to the Certificates; provided, however, that the Rating Agencies may use information delivered under
this clause (z) for any purpose to the extent it is publicly available (unless the availability results from a breach of
this Agreement) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s
Website (or another 17g-5 information provider’s website that they have access to) other than pursuant to this Section
3.13(i).

 

(j)                
The costs and expenses of compliance with this Section 3.13 by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations Reviewer and any other party hereto
shall not be additional expenses of the Trust, but shall be borne by the applicable party hereto.

 

Section
3.14        Title to REO Property; REO Account. (a) If title to any Mortgaged Property
is acquired (directly or through a single member limited liability company established for that purpose) and thus becomes REO
Property, the deed or certificate of sale shall be issued in the name of the Trust where permitted by applicable law or regulation
and consistent with customary servicing procedures, and otherwise, in the name of the Trustee or its nominee on behalf of the
Certificateholders and, if applicable, on behalf of the related Companion Holders, in the case of a Serviced Companion Loan. REO
Property with respect to a Non-Serviced Mortgage Loan is

 

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excluded
for all purposes of this Section 3.14. The Special Servicer, on behalf of the Trust and, if applicable, the related Serviced
Companion Noteholder, shall sell any REO Property prior to the close of the third calendar year following the year in which the
Trust acquires ownership of such REO Property, within the meaning of Treasury Regulations Section 1.856-6(b)(1), for
purposes of Section 860G(a)(8) of the Code, unless the Special Servicer either (i) applies for a qualifying extension
of time no later than sixty (60) days prior to the close of the third calendar year in which it acquired ownership (or the
period provided in the then applicable REMIC Provisions) and such extension is granted or is not denied (an “REO Extension”)
by the Internal Revenue Service to sell such REO Property or (ii) obtains for the Trustee and the Certificate Administrator
an Opinion of Counsel, addressed to the Trustee and the Certificate Administrator, to the effect that the holding by the Trust
of such REO Property subsequent to the close of the third calendar year following the year in which acquisition occurred will
not cause an Adverse REMIC Event. If the Special Servicer is granted or not denied the REO Extension contemplated by clause (i)
of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding
sentence, the Special Servicer shall sell such REO Property within such longer period as is permitted by such REO Extension or
such Opinion of Counsel, as the case may be. Any expense incurred by the Special Servicer in connection with its being granted
the REO Extension contemplated by clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated
by clause (ii) of the second preceding sentence, shall be an expense of the Trust payable out of the Collection Account pursuant
to Section 3.05(a).

 

(b)              
The Special Servicer shall segregate and hold all funds collected and received in connection with any REO Property separate and
apart from its own funds and general assets. If an REO Acquisition shall occur, the Special Servicer shall establish and maintain
one or more REO Accounts, held on behalf of the Trustee for the benefit of the Certificateholders and, if applicable, on behalf
of any related Companion Holder(s), as applicable, as their interest shall appear, and the Trustee (as holder of the Lower-Tier
Regular Interests), for the retention of revenues and other proceeds derived from each REO Property. The REO Account shall be
an Eligible Account. The Special Servicer shall deposit, or cause to be deposited, in the REO Account, within two (2) Business
Days after receipt of properly identified funds, all REO Revenues, Insurance and Condemnation Proceeds and Liquidation Proceeds
received in respect of an REO Property. Funds in the REO Account may be invested in Permitted Investments in accordance with Section
3.06. The Special Servicer shall give notice to the Trustee, the Certificate Administrator, and the Master Servicer of the
location of the REO Account when first established and of the new location of the REO Account prior to any change thereof.

 

(c)               
The Special Servicer shall withdraw from the REO Account funds necessary for the proper operation, management, insuring, leasing,
maintenance and disposition of any REO Property, but only to the extent of amounts on deposit in the REO Account relating to such
REO Property. On the later of (x) the date that is on or prior to each Determination Date or (y) two (2) Business Days
after such amounts are received and properly identified and determined to be available (or with respect to a Serviced Companion
Loan, on the Business Day preceding each Serviced Whole Loan Remittance Date), the Special Servicer shall withdraw from the REO
Account and remit to the Master Servicer, which shall deposit into the Collection Account (or the Companion Distribution Account,
as applicable), the aggregate of all amounts received in respect of each REO Property during the most recently ended Collection
Period, net of (i) any withdrawals made out of such amounts pursuant to the preceding sentence and (ii) Net Investment
Earnings on

 

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amounts
on deposit in the REO Account; provided, however, that the Special Servicer may retain in such REO Account, in accordance
with the Servicing Standard, such portion of such balance as may be necessary to maintain a reasonable reserve for repairs, replacements,
leasing, management and tenant improvements and other related expenses for the related REO Property. In addition, on or prior
to the day the Special Servicer remits funds as provided in this Section 3.14(c), the Special Servicer shall provide the
Master Servicer with a written accounting of amounts remitted to the Master Servicer for deposit in the Collection Account, as
applicable, on such date. The Master Servicer shall apply all such amounts as instructed by the Special Servicer on the Determination
Date (or with respect to a Serviced Companion Loan, on each Serviced Whole Loan Remittance Date) for the related Distribution
Date.

 

(d)              
The Special Servicer shall keep and maintain separate records, on a property-by-property basis, for the purpose of accounting
for all deposits to, and withdrawals from, the REO Account pursuant to Section 3.14(b) or Section 3.14(c).

 

Section
3.15        Management of REO Property. (a) If title to any REO Property is acquired,
the Special Servicer shall manage, conserve, protect, operate and lease such REO Property (other than any Non-Serviced Mortgaged
Property) for the benefit of the Certificateholders and the related Companion Holders and the Trustee (as holder of the Lower-Tier
Regular Interests) solely for the purpose of its timely disposition and sale in a manner that does not cause such REO Property
to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code or result in
the receipt by the Trust or any Serviced Companion Noteholder of any “income from non-permitted assets” within the
meaning of Section 860F(a)(2)(B) of the Code or result in an Adverse REMIC Event. Subject to the foregoing, however, the
Special Servicer shall have full power and authority to do any and all things in connection therewith as are in the best interests
of and for the benefit of the Certificateholders (and, in the case of each Serviced Whole Loan, the related Companion Holder(s))
and the Trustee (as holder of the Lower-Tier Regular Interests) all as a collective whole (taking into account the subordinate
or pari passu nature of any Companion Loan, as the case may be) (as determined by the Special Servicer in its reasonable
judgment in accordance with the Servicing Standard). Notwithstanding anything to the contrary herein, REO Property with respect
to a Non-Serviced Mortgage Loan is excluded for all purposes of this Section 3.15. Subject to this Section 3.15,
the Special Servicer may allow the Trust or any commercial mortgage securitization that holds any Serviced Companion Loan to earn
“net income from foreclosure property” within the meaning of Section 860G(d) of the Code if it determines that
earning such income is in the best interests of Certificateholders and, if applicable, any related Companion Holder(s) on a net
after-tax basis as compared with net leasing such REO Property or operating such REO Property on a different basis. In connection
therewith, the Special Servicer shall deposit or cause to be deposited on a daily basis (and in no event later than two (2) Business
Days following receipt of such properly identified funds) in the applicable REO Account all revenues received by it with respect
to each REO Property and the related REO Loan, and shall withdraw from the REO Account, to the extent of amounts on deposit therein
with respect to such REO Property, funds necessary for the proper operation, management, leasing and maintenance of such REO Property,
including, without limitation:

 

(i)                
all insurance premiums due and payable in respect of such REO Property;

 

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(ii)               
all real estate taxes and assessments in respect of such REO Property that may result in the imposition of a lien thereon;

 

(iii)             
any ground rents in respect of such REO Property, if applicable; and

 

(iv)             
all costs and expenses necessary to maintain and lease such REO Property.

 

To
the extent that amounts on deposit in the REO Account in respect of any REO Property are insufficient for the purposes set forth
in clauses (i) through (iv) above with respect to such REO Property, the Master Servicer (subject to receiving notice from
the Special Servicer in accordance with the procedures set forth elsewhere in this Agreement) shall advance from its own funds
such amount as is necessary for such purposes unless (as evidenced by an Officer’s Certificate delivered to the Trustee,
the Special Servicer, the Depositor, the Certificate Administrator and the Directing Certificateholder (with respect to any Mortgage
Loan other than an Excluded Loan, and prior to the occurrence and continuance of a Consultation Termination Event)) such advances
would, if made, constitute Nonrecoverable Servicing Advances.

 

(b)              
Without limiting the generality of the foregoing, the Special Servicer shall not:

 

(i)                
permit the Trust to enter into, renew or extend any New Lease with respect to any REO Property, if the New Lease by its terms
will give rise to any income that does not constitute Rents from Real Property;

 

(ii)               
permit any amount to be received or accrued under any New Lease other than amounts that will constitute Rents from Real Property;

 

(iii)             
authorize or permit any construction on any REO Property, other than the completion of a building or other improvement thereon,
and then only if more than 10% of the construction of such building or other improvement was completed before default on the related
Mortgage Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

 

(iv)             
Directly Operate, or allow any other Person, other than an Independent Contractor, to Directly Operate, any REO Property on any
date more than ninety (90) days after its acquisition date;

 

unless,
in any such case, the Special Servicer has obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer
as a Servicing Advance) to the effect that such action will not cause such REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code at any time that it is held for the benefit of the Trust,
in which case the Special Servicer may take such actions as are specified in such Opinion of Counsel.

 

(c)               
The Special Servicer shall contract with any Independent Contractor for the operation and management of any REO Property within
ninety (90) days of the acquisition date thereof, provided that:

 

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(i)                
the terms and conditions of any such contract may not be inconsistent herewith and shall reflect an agreement reached at arm’s
length;

 

(ii)               
the fees of such Independent Contractor (which shall be an expense of the Trust) shall be reasonable and customary in light of
the nature and locality of the Mortgaged Property;

 

(iii)            
any such contract shall require, or shall be administered to require, that the Independent Contractor (A) pay all costs and
expenses incurred in connection with the operation and management of such REO Property, including, without limitation, those listed
in subsection (a) hereof, and (B) remit all related revenues collected (net of its fees and such costs and expenses)
to the Special Servicer upon receipt;

 

(iv)              
none of the provisions of this Section 3.15(c) relating to any such contract or to actions taken through any such Independent
Contractor shall be deemed to relieve the Special Servicer of any of its duties and obligations hereunder with respect to the
operation and management of any such REO Property; and

 

(v)               
the Special Servicer shall be obligated to manage and supervise such Independent Contractor in accordance with the Servicing Standard.

 

The
Special Servicer shall be entitled to enter into any agreement with any Independent Contractor performing services for it related
to its duties and obligations hereunder for indemnification of the Special Servicer by such Independent Contractor, and nothing
in this Agreement shall be deemed to limit or modify such indemnification.

 

(d)              
When and as necessary, the Special Servicer shall send to the Trustee, the Certificate Administrator and the Master Servicer a
statement prepared by the Special Servicer setting forth the amount of net income or net loss, as determined for federal income
tax purposes, resulting from the operation and management of a trade or business on, the furnishing or rendering of a non-customary
service to the tenants of, or the receipt of any other amount not constituting Rents from Real Property in respect of, any REO
Property in accordance with Section 3.15(a) and Section 3.15(b).

 

Section
3.16        Sale of Defaulted Loans and REO Properties. (a) (i) Within thirty
(30) days after a Defaulted Loan has become a Specially Serviced Loan, the Special Servicer shall order (but shall not be
required to have received) an Appraisal and within thirty (30) days of receipt of the Appraisal shall determine the fair
value of such Defaulted Loan in accordance with the Servicing Standard; provided, however, that if the Special Servicer
is then in the process of obtaining an Appraisal with respect to the related Mortgaged Property, the Special Servicer shall make
its fair value determination as soon as reasonably practicable (but in any event within thirty (30) days) after its receipt
of such an Appraisal. The Special Servicer may, from time to time, adjust its fair value determination based upon changed circumstances,
new information and other relevant factors, in each instance in accordance with a review of such circumstances and new information
in accordance with the Servicing Standard including, without limitation, the period and amount of the occupancy level and physical
condition of the related Mortgaged Property and the state of the local economy; provided that the Special Servicer shall
promptly notify the Master

 

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Servicer
in writing of the initial fair value determination and any adjustment to its fair value determination.

 

(ii)               
If any Mortgage Loan or Serviced Companion Loan subject to an Intercreditor Agreement is a Specially Serviced Loan or to the extent
otherwise required pursuant to the terms of the related Intercreditor Agreement, then the Special Servicer (with respect to a
Specially Serviced Loan) or the Master Servicer (with respect to a Non-Specially Serviced Loan) shall promptly notify in writing
the other, any related Companion Holder and any related mezzanine lender, as applicable, of any events requiring notice under
the Intercreditor Agreement in accordance with the terms thereof. Thereafter, any related Companion Holder and related mezzanine
lender, as applicable, will, notwithstanding anything in this Section 3.16 to the contrary, have the option to purchase
the related Mortgage Loan and cure defaults relating thereto as and to the extent set forth in the related Intercreditor Agreement.

 

(iii)              
If any Mortgage Loan not subject to an Intercreditor Agreement becomes a Specially Serviced Loan, or if the related Companion
Holder or related mezzanine lender, as applicable, for any such Mortgage Loan subject to an Intercreditor Agreement has not previously
exercised the option to purchase the Mortgage Loan pursuant to the previous paragraph, the Special Servicer shall use reasonable
efforts to solicit offers for each Defaulted Loan on behalf of the Certificateholders and the holder of any related Serviced Companion
Loan in such manner as will be reasonably likely to maximize the value of the Defaulted Loan on a net present value basis, if
and when the Special Servicer determines, consistent with the Servicing Standard, that no satisfactory arrangements (including
by way of a discounted pay-off) can be made for collection of delinquent payments thereon and such a sale would be in the
best economic interests of the Trust and, if applicable, the related Companion Holder. In the case of a Non-Serviced Mortgage
Loan, to the extent permitted under the related Intercreditor Agreement, and such Non-Serviced Mortgage Loan is not sold together
with the Non-Serviced Companion Loan by the Non-Serviced Special Servicer, the Special Servicer will be entitled to sell
(with the consent of the Directing Certificateholder if no Control Termination Event has occurred and is continuing and such Non-Serviced
Mortgage Loan is not an Excluded Loan as to such party) such Non-Serviced Mortgage Loan if it determines in accordance with
the Servicing Standard that such action would be in the best interests of the Certificateholders and, subject to the terms of
the related Intercreditor Agreement (and provided that the related Non-Serviced Special Servicer will not be entitled to
a liquidation fee), the Special Servicer will be entitled to the liquidation fee that the related Non-Serviced Special Servicer
would have otherwise been entitled to in connection with the sale of such Non-Serviced Mortgage Loan. The Special Servicer is
required to give the Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor and the Directing Certificateholder
(other than with respect to any Excluded Loan) and, in respect of any Serviced AB Whole Loan, prior to the occurrence of an AB
Control Appraisal Period, the holder of the related Subordinate Companion Loan not less than ten (10) days’ prior written
notice of its intention to sell any Defaulted Loan. In the absence of a cash offer at least equal to the Purchase Price, the Special
Servicer may purchase the Defaulted Loan for the Purchase Price or may accept the first cash offer received from any Person that
constitutes a fair price for the Defaulted Loan.

 

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(iv)             
(A) In the case of a Specially Serviced Loan as to which a default has occurred and is continuing, in the absence of any offer
at least equal to the Purchase Price pursuant to clause (iii) above (or purchase by the Special Servicer for such price),
the Special Servicer shall solicit offers and, subject to sub-clause (B) below, accept the highest offer received from any
Person that is determined by the Special Servicer to be a fair price for such Specially Serviced Loan, if the offeror is a Person
other than an Interested Person. In determining whether any offer from a Person other than an Interested Person constitutes a
fair price for any Defaulted Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal,
updated Appraisal or narrative appraisal that it may have obtained pursuant to this Agreement within the prior 9 months), among
other factors, the period and amount of the occupancy level and physical condition of the related Mortgaged Property and the state
of the local economy. If the offeror is an Interested Person (provided that the Trustee may not be an offeror), the Trustee
shall determine whether the offer constitutes a fair price unless such offer by an Interested Person (i) is equal to or greater
than the applicable Purchase Price and (ii) is the highest offer received. Absent an offer at least equal to the Purchase
Price, no offer from an Interested Person shall constitute a fair price unless (x) it is the highest offer received and (y) at
least two other offers are received from independent third parties. In determining whether any offer received from an Interested
Person represents a fair price for any such Defaulted Loan, the Trustee shall rely on the most recent Appraisal (or update of
such Appraisal) of the related Mortgaged Property conducted in accordance with this Agreement within the preceding nine (9) month
period or, in the absence of any such Appraisal, on a new Appraisal. Except as provided in the following paragraph, the cost of
any Appraisal will be covered by, and will be reimbursable as, a Servicing Advance by the Master Servicer.

 

Notwithstanding
anything contained in the preceding paragraph to the contrary, if the Trustee is required to determine whether a cash offer by
an Interested Person constitutes a fair price, the Trustee must (at the expense of the Interested Person) designate an independent
third party expert in real estate or commercial mortgage loan matters with at least five (5) years’ experience in valuing
loans similar to the subject Mortgage Loan or Serviced Whole Loan, that has been selected with reasonable care by the Trustee
to determine if such cash offer constitutes a fair price for such Mortgage Loan or Serviced Whole Loan. If the Trustee designates
such a third party to make such determination, the Trustee shall be entitled to rely conclusively upon such third party’s
determination. The reasonable fees of, and the costs of all appraisals, inspection reports and broker opinions of value incurred
by any such third party shall be covered by, and shall be reimbursable by, the Interested Person; provided that the Trustee
will not engage a third party expert whose fees exceed a commercially reasonable amount as determined by the Trustee. The Special
Servicer shall use efforts consistent with the Servicing Standard to collect payment from such Interested Person. If such expense
is not paid by the applicable Interested Person within thirty (30) days of demand for payment, such expense shall be reimbursable
to the Trustee by the Master Servicer as a Servicing Advance but the Special Servicer shall continue to use efforts consistent
with the Servicing Standard to collect such amounts from the applicable Interested Person. Neither the Trustee, in its individual
capacity, nor any of its Affiliates may make an offer for or purchase any Specially Serviced Loan.

 

(B)             
The Special Servicer will not be obligated to accept the highest offer if the Special Servicer determines ((i) with respect to
any Mortgage Loan other than

 

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an
Excluded Loan, in consultation with the Directing Certificateholder (unless a Consultation Termination Event shall have occurred
and be continuing) and (ii) in the case of a Serviced Whole Loan or an REO Property related to a Serviced Whole Loan, the related
Companion Holder), in accordance with the Servicing Standard (and subject to the requirements of any related Intercreditor Agreement),
that the rejection of such offer would be in the best interests of the Holders of Certificates and, in the case of a sale of a
Serviced Whole Loan or an REO Property related to a Serviced Whole Loan, the related Companion Holder (as a collective whole,
as if such Certificateholders and, if applicable, the related Companion Holder constituted a single lender, and taking into account
the subordinate or pari passu nature of any Companion Loan). In addition, the Special Servicer may accept a lower offer
from any Person other than an Affiliate of the Special Servicer if it determines, in its reasonable judgment consistent with the
Servicing Standard, that the acceptance of such offer would be in the best interests of the Holders of Certificates and, in the
case of a sale of a Serviced Whole Loan or an REO Property related to a Serviced Whole Loan, the related Companion Holder (as
a collective whole, as if such Certificateholders and, if applicable, the related Companion Holder constituted a single lender,
and taking into account the subordinate or pari passu nature of any Companion Loan) (for example, if the prospective buyer
making the lower offer is more likely to perform its obligations, or the terms offered by the prospective buyer making the lower
offer are more favorable); provided that the offeror is not the Special Servicer or a Person that is an Affiliate of the
Special Servicer. The Special Servicer shall use reasonable efforts to sell all Defaulted Loans prior to the Rated Final Distribution
Date. For the avoidance of doubt, the Trustee shall have no obligation to make any fair value determination, to the extent required
to do so pursuant to this Section 3.16, on the basis of anything other than the related Appraisal.

 

(v)               
Unless and until any Specially Serviced Loan is sold pursuant to this Section 3.16(a), the Special Servicer shall pursue
such other resolution strategies with respect to such Specially Serviced Loan, including, without limitation, workout and foreclosure,
as the Special Servicer may deem appropriate, consistent with the Asset Status Report and the Servicing Standard and the REMIC
Provisions.

 

(b)              
(i) (A) The Special Servicer may purchase any REO Property at the Purchase Price therefor (in the case of a Serviced
Whole Loan, such purchase shall be a purchase of the entire REO Property, including the portion relating to the related Companion
Loan). The Special Servicer may also offer to sell to any Person any REO Property (in the case of a Serviced Whole Loan, such
sale shall be a sale of the entire REO Property, including the portion relating to the related Companion Loan), if and when the
Special Servicer determines, consistent with the Servicing Standard, that such a sale would be in the best economic interest of
the Trust and the related Companion Holders. The Special Servicer shall give the Trustee, the Master Servicer, each Companion
Holder, the Certificate Administrator and the Directing Certificateholder (in the case of the Directing Certificateholder, in
respect of any Mortgage Loan other than an Excluded Loan as to such party, prior to the occurrence and continuance of a Consultation
Termination Event), not less than ten (10) days’ prior written notice of its intention to (i) purchase any REO
Property at the Purchase Price therefor (including a calculation of the Purchase Price) or (ii) sell any REO

 

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Property,
in which case the Special Servicer shall accept the highest offer received from any Person for any REO Property in an amount at
least equal to the Purchase Price therefor. To the extent permitted by applicable law, and subject to the Servicing Standard,
the Master Servicer, an Affiliate of the Master Servicer, the Special Servicer or an Affiliate of the Special Servicer, or an
employee of either of them may act as broker in connection with the sale of any REO Property and may retain from the proceeds
of such sale a brokerage commission that does not exceed the commission that would have been earned by an independent broker pursuant
to a brokerage agreement entered into at arm’s length.

 

(B)             
In the absence of any such offer as set forth in sub-clause (A) above, the Special Servicer shall, subject to sub-clause (C)
below, accept the highest offer for such REO Property received from any Person that is determined to be a fair price (1) by
the Special Servicer, if the highest offeror is a Person other than an Interested Person, or (2) by the Trustee, if the highest
offeror is an Interested Person unless such offer by an Interested Person (i) is equal to or greater than the applicable
Purchase Price and (ii) is the highest offer received; provided, however, that absent an offer at least equal
to the Purchase Price, no offer from an Interested Person shall constitute a fair price unless (A) it is the highest offer
received and (B) at least two other offers are received from independent third parties. Notwithstanding anything to the contrary
herein, neither the Trustee, in its individual capacity, nor any of its Affiliates may make an offer for or purchase any REO Property
pursuant hereto.

 

(C)            
The Special Servicer shall not be obligated by either of the foregoing paragraphs or otherwise to accept the highest offer if
the Special Servicer determines, in accordance with the Servicing Standard, that rejection of such offer would be in the best
interests of the Certificateholders and, with respect to any Serviced Whole Loan, the related Companion Holder, and in either
case, as a collective whole (taking into account the subordinate or pari passu nature of any Serviced Companion Loans).
In addition, the Special Servicer may accept a lower offer if it determines, in accordance with the Servicing Standard, that acceptance
of such offer would be in the best interests of the Certificateholders and, with respect to any Serviced Whole Loan, the related
Companion Holder, and in either case, as a collective whole (taking into account the subordinate or pari passu nature of
any Serviced Companion Loans) (for example, if the prospective buyer making the lower offer is more likely to perform its obligations,
or the terms offered by the prospective buyer making the lower offer are more favorable); provided that the offeror is
not the Special Servicer or a Person that is an Affiliate of the Special Servicer.

 

(D)           
In determining whether any offer received from an Interested Person represents a fair price for any REO Property, the Trustee
shall obtain and may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate matters
retained by the Trustee in connection with making such determination. The reasonable cost of such Independent appraiser or other
Independent expert shall be an expense of the offering Interested Person purchaser. The reasonable fees and costs of all appraisals,
inspection reports and broker opinions of value incurred by any such third party shall be covered by, and shall be

 

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reimbursable,
from the offering Interested Person and the Special Servicer shall use efforts consistent with the Servicing Standard to collect
payment from such Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30) days
of demand for payment, such expense shall be reimbursable to the Trustee by the Master Servicer as a Servicing Advance but the
Special Servicer shall continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable
Interested Person. In determining whether any offer constitutes a fair price for any REO Property, the Special Servicer or the
Trustee (or, if applicable, such appraiser) shall take into account, and any appraiser or other expert in real estate matters
shall be instructed to take into account, as applicable, among other factors, the physical condition of such REO Property, the
state of the local economy and the Trust’s obligation to comply with REMIC Provisions.

 

(ii)               
Subject to the Servicing Standard, the Special Servicer shall act on behalf of the Trust and the related Companion Holders in
negotiating and taking any other action necessary or appropriate in connection with the sale of any REO Property, including the
collection of all amounts payable in connection therewith. A sale of any REO Property shall be without recourse to, or representation
or warranty by, the Trustee, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer or the Trust (except that any contract of sale and assignment and conveyance documents
may contain customary warranties of title, so long as the only recourse for breach thereof is to the Trust) and, if consummated
in accordance with the terms of this Agreement, none of the Master Servicer, the Special Servicer, the Depositor, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or the Trustee shall have any liability to the Trust
or any Certificateholder or related Companion Holder (if applicable) with respect to the purchase price therefor accepted by the
Special Servicer or the Trustee.

 

(c)               
Any sale of a Defaulted Loan or any REO Property shall be for cash only (unless changes in the REMIC Provisions or authoritative
interpretations thereof made or issued subsequent to the Startup Day allow a sale for other consideration).

 

(d)              
With respect to each Serviced Pari Passu Whole Loan, pursuant to the terms of the related Intercreditor Agreement and this Agreement,
if the related Serviced Pari Passu Whole Loan becomes a Defaulted Loan, and if the Special Servicer determines to sell the related
Mortgage Loan that has become a Defaulted Loan in accordance with this Section 3.16, then the Special Servicer shall sell
the related Serviced Pari Passu Companion Loan together with such Mortgage Loan as one whole loan and shall require that all offers
be submitted to the Special Servicer in writing. To the extent a determination is required to be made hereunder as to whether
any cash offer constitutes a fair price for a Serviced Whole Loan, such determination shall be made by the Special Servicer unless
the offeror is an Interested Person and by the Trustee if the offeror is an Interested Person. Notwithstanding the foregoing,
the Special Servicer will not be permitted to sell the related Mortgage Loan together with the related Serviced Pari Passu Companion
Loan(s) if it becomes a defaulted Whole Loan without the written consent of the holder of the related Serviced Pari Passu Companion
Loan (provided that such consent is not required if the holder of the Serviced Pari Passu Companion Loan is the Mortgagor
or an Affiliate of the Mortgagor) unless

 

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the
Special Servicer has delivered to the holder of the related Serviced Pari Passu Companion Loan: (a) at least fifteen (15) Business
Days prior written notice of any decision to attempt to sell such Serviced Whole Loan; (b) at least ten (10) days prior
to the permitted sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special
Servicer in connection with any such proposed sale; (c) at least ten (10) days prior to the proposed sale date, a copy
of the most recent appraisal for such Serviced Pari Passu Whole Loan, and any documents in the servicing file reasonably requested
by the holder of the related Serviced Pari Passu Companion Loan; and (d) until the sale is completed, and a reasonable period
of time (but no less time than is afforded to other offerors and the Directing Certificateholder) prior to the proposed sale date,
all information and other documents being provided to other offerors and all leases or other documents that are approved by the
Master Servicer or the Special Servicer in connection with the proposed sale. The holder of the related Serviced Pari Passu Companion
Loan (or its representative) will be permitted to submit an offer at any sale of such Whole Loan; however, the related Mortgagor
and its agents and Affiliates shall not be permitted to submit an offer at such sale. Notwithstanding the foregoing, with respect
to each Serviced Whole Loan, the holder of the related Companion Loan may waive any of the delivery or timing requirements set
forth in this paragraph with respect to the related Whole Loan. If the Trustee is required to determine whether a cash offer by
an Interested Person constitutes a fair price, the Trustee may (at its option and at the expense of the offering Interested Person
purchaser) designate an independent third party expert in real estate or commercial mortgage loan matters with at least five (5) years’
experience in valuing loans similar to the subject Mortgage Loan, that has been selected with reasonable care by the Trustee to
determine if such cash offer constitutes a fair price for such Mortgage Loan. The Trustee shall act in a commercially reasonable
manner in making such determination. If the Trustee designates such a third party to make such determination, the Trustee shall
be entitled to rely conclusively upon such third party’s determination. The reasonable fees of, and the costs of all appraisals,
inspection reports and broker opinions of value incurred by any such third party shall be covered by, and shall be reimbursable,
from the offering Interested Person and the Special Servicer shall use efforts consistent with the Servicing Standard to collect
payment from such Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30) days
of demand for payment, such expense shall be reimbursable to the Trustee by the Master Servicer as a Servicing Advance but the
Special Servicer shall continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable
Interested Person.

 

(e)              
(i) Notwithstanding anything in this Section 3.16 to the contrary, with respect to each Serviced AB Whole Loan, pursuant
to the terms of the related Intercreditor Agreement, the related Subordinate Companion Holder will have the right to purchase
the related Mortgage Loan or related REO Property, as applicable. Such right of such Subordinate Companion Holder shall be given
priority over any provision described in this Section 3.16 as and to the extent set forth in the related Intercreditor
Agreement. If the related Mortgage Loan or related REO Property is purchased by such Subordinate Companion Holder, repurchased
by the applicable Mortgage Loan Seller or otherwise ceases to be subject to this Agreement, the related AB Subordinate Companion
Loan will no longer be subject to this Agreement.

 

(ii)               
Notwithstanding anything in this Section 3.16 to the contrary, any mezzanine lender will have the right to purchase the
related Mortgage Loan or REO

 

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Property,
as applicable, and cure defaults relating thereto, as and to the extent set forth in the related Intercreditor Agreement.

 

(f)                
Unless otherwise provided in an Intercreditor Agreement the sale of any Mortgage Loan pursuant to this Section 3.16 will
be on a servicing released basis.

 

(g)              
In the event the Master Servicer or the Special Servicer has the right to purchase any Companion Loan on behalf of the Trust pursuant
to the related Intercreditor Agreement, neither the Master Servicer nor the Special Servicer shall exercise such right.

 

Section
3.17        Additional Obligations of Master Servicer and Special Servicer. (a) The
Master Servicer shall deliver all Compensating Interest Payments (other than the portion of any Compensating Interest Payment
allocated to a Serviced Pari Passu Companion Loan) to the Certificate Administrator for deposit in the Lower-Tier REMIC Distribution
Account on each P&I Advance Date, without any right of reimbursement therefor. The Master Servicer shall deliver the portion
of any Compensating Interest Payment allocated to a Serviced Pari Passu Companion Loan to the Companion Paying Agent for deposit
in the Companion Distribution Account on each P&I Advance Date, without any right of reimbursement therefor.

 

(b)              
The Master Servicer or the Special Servicer, as applicable, shall provide to each Serviced Companion Noteholder any reports or
notices required to be delivered to such Serviced Companion Noteholder pursuant to the related Intercreditor Agreement.

 

(c)              
Upon the determination that a previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof
would exceed the full amount of the principal portion of general collections on the Mortgage Loans deposited in the Collection
Account and available for distribution on the next Distribution Date, the Master Servicer or the Trustee, each at its own option
and in its sole discretion, as applicable, instead of obtaining reimbursement for the remaining amount of such Nonrecoverable
Advance pursuant to Section 3.05(a)(v) immediately, as an accommodation may elect to refrain from obtaining such reimbursement
for such portion of the Nonrecoverable Advance during the one month collection period ending on the then-current Determination
Date, for successive one-month periods for a total period not to exceed twelve (12) months (provided that, with respect
to any Mortgage Loan other than an Excluded Loan, any such deferral exceeding six (6) months shall require, prior to the
occurrence and continuance of any Control Termination Event, the consent of the Directing Certificateholder), and any election
to so defer or not to defer shall be deemed to be in accordance with the Servicing Standard. If the Master Servicer or the Trustee
makes such an election at its sole option and in its sole discretion to defer reimbursement with respect to all or a portion of
a Nonrecoverable Advance (together with interest thereon), then such Nonrecoverable Advance (together with interest thereon) or
portion thereof shall continue to be fully reimbursable in the subsequent collection period (subject, again, to the same sole
option to defer; it is acknowledged that, in such a subsequent period, such Nonrecoverable Advance shall again be payable first
from principal collections as described above prior to payment from other collections). In connection with a potential election
by the Master Servicer or the Trustee to refrain from the reimbursement of a particular Nonrecoverable Advance or portion thereof
during the one month collection period ending on the related Determination Date for any Distribution Date, the Master Servicer
or the Trustee shall further be authorized to wait for principal collections on the Mortgage Loans to be

 

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received
until the end of such collection period before making its determination of whether to refrain from the reimbursement of a particular
Nonrecoverable Advance or portion thereof); provided, however, that if, at any time the Master Servicer or the Trustee,
as applicable, elects, in its sole discretion, not to refrain from obtaining such reimbursement or otherwise determines that the
reimbursement of a Nonrecoverable Advance during a one-month collection period will exceed the full amount of the principal portion
of general collections on or in respect of Mortgage Loans deposited in the Collection Account for such Distribution Date, then
the Master Servicer or the Trustee, as applicable, shall use its reasonable efforts to give the 17g-5 Information Provider
fifteen (15) days’ notice of such determination for posting on the 17g-5 Information Provider’s Website pursuant
to Section 3.13(c), unless extraordinary circumstances make such notice impractical, which shall mean that (i) the
Master Servicer or the Trustee, as the case may be, determines in its sole discretion that waiting fifteen (15) days after
such a notice could jeopardize its ability to recover such Nonrecoverable Advance, (ii) changed circumstances or new or different
information becomes known to the Master Servicer or the Trustee, as the case may be, that could affect or cause a determination
of whether any Advance is a Nonrecoverable Advance or whether to defer reimbursement of a Nonrecoverable Advance or the determination
in clause (i) above, or (iii) in the case of the Master Servicer, it has not timely received from the Trustee information
required by the Master Servicer to determine whether to defer reimbursement for a Nonrecoverable Advance. If any of the circumstances
described in clause (i), (ii) or (iii) of the foregoing sentence apply, the Master Servicer or Trustee, as applicable, shall
give the 17g-5 Information Provider a notice for posting of the anticipated reimbursement as soon as reasonably practicable.
Notwithstanding the foregoing, failure to give notice as required by the preceding or second preceding sentence shall in no way
affect the Master Servicer’s or the Trustee’s election whether to refrain from obtaining such reimbursement or right
to obtain such reimbursement as described in this Section 3.17(c). Nothing herein shall give the Master Servicer or the
Trustee the right to defer reimbursement of a Nonrecoverable Advance to the extent of any principal collections then available
in the Collection Account pursuant to Section 3.05(a)(v). The Master Servicer or the Trustee, as the case may be, shall
have no liability for any loss, liability or expenses resulting from any notice provided to the Rating Agencies contemplated by
this Section 3.17(c).

 

The
foregoing shall not, however, be construed to limit any liability that may otherwise be imposed on such Person for any failure
by such Person to comply with the conditions to making such an election under this Section 3.17(c) or to comply with the
terms of this Section 3.17(c) and the other provisions of this Agreement that apply once such an election, if any, has
been made; provided, however, that the fact that a decision to recover such Nonrecoverable Advances over time, or
not to do so, benefits some classes of Certificateholders to the detriment of other classes shall not, with respect to the Master
Servicer or the Special Servicer, as applicable, constitute a violation of the Servicing Standard and/or with respect to the Trustee
(solely in its capacity as Trustee), constitute a violation of any fiduciary duty to Certificateholders or any contractual obligation
hereunder. If the Master Servicer or the Trustee, as the case may be, determines, in its sole discretion, to fully recover the
Nonrecoverable Advances immediately instead of deferring such reimbursement, then the Master Servicer or the Trustee, as applicable,
shall be entitled to immediate reimbursement of Nonrecoverable Advances with interest thereon at the Reimbursement Rate from all
amounts in the Collection Account for such Distribution Date (deemed first from principal and then interest). Any
such election by any such party to refrain from reimbursing itself or obtaining reimbursement for any Nonrecoverable Advance or
portion thereof with respect to any one or more collection periods shall not limit the accrual of interest at

 

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the
Reimbursement Rate on such Nonrecoverable Advance for the period prior to the actual reimbursement of such Nonrecoverable Advance.
The Master Servicer’s or the Trustee’s, as the case may be, agreement to defer reimbursement of such Nonrecoverable
Advances as set forth above is an accommodation to the Certificateholders and shall not be construed as an obligation on the part
of the Master Servicer or the Trustee, as applicable, or a right of the Certificateholders. Nothing herein shall be deemed to
create in the Certificateholders a right to prior payment of distributions over the Master Servicer’s or the Trustee’s,
as applicable, right to reimbursement for Advances (deferred or otherwise) and accrued interest thereon. In all events, the decision
to defer reimbursement or to seek immediate reimbursement of Nonrecoverable Advances shall be deemed to be in accordance with
the Servicing Standard and none of the Master Servicer, the Trustee or the other parties to this Agreement shall have any liability
to one another or to any of the Certificateholders or any of the Companion Holders for any such election that such party makes
as contemplated by this Section 3.17(c) or for any losses, damages or other adverse economic or other effects that may
arise from such an election, nor shall such election constitute a violation of the Servicing Standard or any duty under this Agreement.
Neither the Master Servicer nor the Trustee shall have any liability whatsoever for making an election, or refraining from making
an election, that is authorized under this Section 3.17(c).

 

No
determination by the Master Servicer (or the Trustee, as applicable) to exercise its sole option to defer the reimbursement of
Advances and/or interest thereon under this section shall be construed as an agreement by the Master Servicer (or the Trustee,
as applicable) to subordinate (in respect of realizing losses), to any Class of Certificates, such party’s right to such
reimbursement during such period of deferral.

 

With
respect to any modification or amendment of any Intercreditor Agreement related to a Serviced Whole Loan (to the extent received),
the Master Servicer or the Special Servicer, as applicable, shall provide to the 17g-5 Information Provider a copy of any
such modification or amendment, which the 17g-5 Information Provider shall promptly post on the 17g-5 Information Provider’s
Website in accordance with Section 3.13(c).

 

(d)              
With respect to any Mortgage Loan (or Serviced Whole Loan), if the related loan documents permit the lender to (but do not require
the lender to), at its option, prior to an event of default under the related Mortgage Loan (or Serviced Whole Loan), apply amounts
held in any reserve account as a prepayment or hold such amounts in a reserve account, the Master Servicer or the Special Servicer,
as the case may be, may not apply such amounts as a prepayment, and will instead continue to hold such amounts in the applicable
reserve account, unless not applying those amounts as a prepayment would be a violation of the Servicing Standard. Such amount
may be used, if permitted under the loan documents, to defease the loan, or may be used to prepay the Mortgage Loan (or Serviced
Whole Loan), or for other purpose consistent with the Servicing Standard and the loan documents, upon a subsequent default.

 

(e)               
Within one (1) Business Day after the execution of any amendment or modification of any Intercreditor Agreement, the Master
Servicer or the Special Servicer, as the case may be, shall provide to the Certificate Administrator a copy of any such modification
or amendment of any Intercreditor Agreement, and such amendment or modification shall be a Reportable Event.

 

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Section
3.18        Modifications, Waivers, Amendments and Consents. (a) The Special Servicer
shall process waivers, modifications, amendments and consents with respect to Specially Serviced Loans and all such matters that
involve a Major Decision for all Mortgage Loans (and any related Serviced Companion Loan) that are not Specially Serviced Loans,
and the Master Servicer shall process waivers, modifications, amendments and consents with respect to any Mortgage Loan (other
than any Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that is not a Specially Serviced Loan and does not
involve a Major Decision. Except as set forth in Section 3.08(a), Section 3.08(b), this Section 3.18(a),
Section 3.18(d), Section 3.18(h), Section 3.18(i), Section 3.18(m) and Section 6.08, but subject
to any other conditions set forth thereunder and, with respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan)
or any Serviced Whole Loan (and with respect to any Serviced Whole Loan, subject to the rights of the related Companion Holder,
as applicable, to advise or consult with the Special Servicer with respect to, or to consent to, a modification, waiver or amendment,
in each case, pursuant to the terms of the related Intercreditor Agreement), the Special Servicer shall not modify, waive or amend
the terms of a Non-Specially Serviced Loan and/or related Companion Loan that would constitute a Major Decision without (x) prior
to the occurrence and continuance of a Control Termination Event and other than with respect to any Excluded Loan, the consent
(or deemed consent) of the Directing Certificateholder having been obtained by the Special Servicer to the extent required by,
and pursuant to the process described under, Section 6.08(a), (y) after the occurrence and during the continuance
of a Control Termination Event, but prior to the occurrence and continuance of a Consultation Termination Event, and other than
with respect to any Excluded Loan, the Special Servicer having consulted with the Directing Certificateholder if and to the extent
required pursuant to Section 6.08(a) or (z) after the occurrence and during the continuance of an Operating Advisor
Consultation Event, the Special Servicer having consulted with the Operating Advisor if and to the extent required pursuant to
Section 6.08(a); and provided, further, that no extension entered into pursuant to this Section 3.18(a)
shall extend the Maturity Date beyond the earlier of (i) five (5) years prior to the Rated Final Distribution Date
and (ii) in the case of a Mortgage Loan secured solely or primarily by a leasehold estate and not also the related fee interest,
the date twenty (20) years or, to the extent consistent with the Servicing Standard giving due consideration to the remaining
term of the Ground Lease, ten (10) years, prior to the expiration of such leasehold estate. If such extension would extend
the Maturity Date of such Mortgage Loan and/or related Companion Loan for more than twelve (12) months from and after the
original Maturity Date of such Mortgage Loan and/or related Companion Loan and such Mortgage Loan and/or related Companion Loan
is not in default or default with respect thereto is not reasonably foreseeable, prior to any such extension, the Special Servicer
shall (1) provide the Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor and the Directing
Certificateholder (other than with respect to any Excluded Loan and prior to the occurrence and continuance of a Consultation
Termination Event), with an Opinion of Counsel (at the expense of the related Mortgagor to the extent permitted under the Mortgage
Loan documents and, if not required or permitted to be paid by the Mortgagor, to be paid as an expense of the Trust in accordance
with Section 3.11(d)) that such extension would not constitute a “significant modification” of the Mortgage
Loan and/or Serviced Companion Loan within the meaning of Treasury Regulations Section 1.860G-2(b) and (2) subject
to the Servicing Standard, (x) prior to the occurrence and continuance of a Control Termination Event and other than with
respect to any Excluded Loan, obtain the consent (or deemed consent) of the Directing Certificateholder, (y) after the occurrence
and during the continuance of a Control Termination

 

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Event,
but prior to the occurrence and continuance of a Consultation Termination Event, and other than with respect to any Excluded Loan,
consult with the Directing Certificateholder, in each case pursuant to the process described in Section 6.08(a) and (z) after
the occurrence and during the continuance of an Operating Advisor Consultation Event, the Special Servicer having consulted with
the Operating Advisor if and to the extent required pursuant to Section 6.08(a). Notwithstanding the foregoing, subject
to the rights of the related Companion Holder to advise the Master Servicer with respect to, or consent to, such modification,
waiver or amendment pursuant to the terms of the related Intercreditor Agreement, the Master Servicer, with respect to Non-Specially
Serviced Loans, without the consent of the Special Servicer or the Directing Certificateholder, may modify or amend the terms
of any Non-Specially Serviced Loan and/or related Serviced Companion Loan in order to (i) cure any ambiguity or mistake therein
or (ii) correct or supplement any provisions therein which may be inconsistent with any other provisions therein or correct
any error; provided that, if the Mortgage Loan (other than any Non-Serviced Mortgage Loan) and/or related Serviced Companion
Loan is not in default or default with respect thereto is not reasonably foreseeable, such modification or amendment would not
be a “significant modification” of the Mortgage Loan and/or related Serviced Companion Loan within the meaning of
Treasury Regulations Section 1.860G-2(b).

 

Subject
to Section 6.08, applicable law and the Mortgage Loan and/or related Serviced Companion Loan documents, neither the Master
Servicer nor the Special Servicer shall permit the substitution of any Mortgaged Property (or any portion thereof) for one or
more other parcels of real property at any time the Mortgage Loan and/or related Serviced Companion Loan is not in default pursuant
to the terms of the related Mortgage Loan and/or related Serviced Companion Loan documents or default with respect thereto is
not reasonably foreseeable unless (i) the Master Servicer or the Special Servicer, as the case may be, obtains Rating Agency
Confirmation from each Rating Agency (and delivers such Rating Agency Confirmation to the Directing Certificateholder, if permitted
by the applicable Rating Agency) and a confirmation of any applicable rating agencies that such action will not result in the
downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any)
(provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation
may be considered satisfied with respect to the Certificates pursuant to Section 3.25)) and (ii) such substitution
would not be a “significant modification” of the Mortgage Loan and/or related Serviced Companion Loan within the meaning
of Treasury Regulations Section 1.860G-2(b) or otherwise cause an Adverse REMIC Event (and the Master Servicer or the
Special Servicer, as the case may be, may obtain and rely upon an Opinion of Counsel (at the expense of the related Mortgagor
if not prohibited by the terms of the related Mortgage Loan documents, and if so prohibited, at the expense of the Trust) with
respect thereto).

 

Upon
receiving a request for any matter described in this Section 3.18(a) that constitutes a Major Decision with respect to
a Mortgage Loan that is a Non-Specially Serviced Loan, the Master Servicer shall promptly forward such request to the Special
Servicer and the Special Servicer shall process such request (including, without limitation, interfacing with the Mortgagor) and
except as provided in the next sentence, the Master Servicer shall have no further obligation with respect to such request or
the Major Decision. The Master Servicer will deliver to the Special Servicer any additional information in the Master Servicer’s
possession requested by the Special Servicer relating to such Major Decision. The Master Servicer shall not be permitted

 

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to
process any Major Decision and shall not be required to interface with the Mortgagor or provide a written recommendation and/or
analysis with respect to any Major Decision.

 

(b)              
If the Special Servicer determines that a modification, waiver or amendment (including, without limitation, the forgiveness or
deferral of interest or principal or the substitution of collateral pursuant to the terms of the Mortgage Loan (other than any
Non-Serviced Mortgage Loan) and/or related Serviced Companion Loan or otherwise, the release of collateral or the pledge of
additional collateral) of the terms of a Specially Serviced Loan with respect to which a payment default or other material default
has occurred or a payment default or other material default is, in the Special Servicer’s judgment, reasonably foreseeable
(as evidenced by an Officer’s Certificate of the Special Servicer), is reasonably likely to produce a greater (or equivalent)
recovery on a net present value basis (the relevant discounting to be performed at the related Mortgage Rate) to the Trust and,
if applicable, the Companion Holders, as the holders of the related Serviced Companion Loan, than liquidation of such Specially
Serviced Loan, then the Special Servicer may agree to a modification, waiver or amendment of such Specially Serviced Loan, subject
to (w) the provisions of this Section 3.18(b) and Section 3.18(c), (x) with respect to any such Specially
Serviced Loan other than an Excluded Loan, prior to the occurrence and continuance of a Control Termination Event, the approval
of the Directing Certificateholder (or after the occurrence and during the continuance of a Control Termination Event, but prior
to the occurrence and continuance of a Consultation Termination Event, upon consultation with the Directing Certificateholder)
as provided in Section 6.08, (y) after the occurrence and during the continuance of an Operating Advisor Consultation
Event, consultation with the Operating Advisor if and to the extent required pursuant to Section 6.08(a) and (z) additionally,
with respect to a Serviced Whole Loan, the rights of the related Serviced Companion Noteholder or with respect to a Mortgage Loan
(other than any Non-Serviced Mortgage Loan) with mezzanine debt, the rights of the related mezzanine lender, to advise or
consult with the Special Servicer with respect to, or consent to, such modification, waiver or amendment, in each case, pursuant
to the terms of the related Intercreditor Agreement or mezzanine intercreditor agreement, as applicable; provided that
with respect to any Serviced AB Whole Loan, prior to the occurrence and continuance of a related AB Control Appraisal Period,
the related Serviced AB Whole Loan Controlling Holder will be required to the extent set forth in the related Intercreditor Agreement
and the Directing Certificateholder shall have no consent or consultation rights regarding the matter; provided, further,
that in the case of any release or substitution of collateral (other than a defeasance), the Special Servicer shall have obtained
an Opinion of Counsel that such release or substitution would not be a “significant modification” of the Mortgage
Loan within the meaning of Treasury Regulations Section 1.860G-2(b) or otherwise cause an Adverse REMIC Event. Notwithstanding
anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control Termination Event has occurred
and is continuing), the Special Servicer shall consult with the Operating Advisor, on a non-binding basis, in connection with
the related transactions involving proposed Major Decisions and consider alternative actions recommended by the Operating Advisor,
in respect thereof, in accordance with the procedures set forth in Section 6.08 for consulting with the Operating Advisor.

 

In
connection with (i) the release of a Mortgaged Property (other than any Non-Serviced Mortgaged Property), or any portion
of such Mortgaged Property from the lien of the related Mortgage or (ii) the taking of a Mortgaged Property (other than any
Non-Serviced Mortgaged Property), or any portion of such Mortgaged Property by exercise of the power of eminent domain or
condemnation, if the related Mortgage Loan documents require the Master

 

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Servicer
or the Special Servicer, as the case may be, to calculate (or to approve the calculation of the related Mortgagor of) the loan-to-value
ratio of the remaining Mortgaged Property or Mortgaged Properties or the fair market value of the real property constituting the
remaining Mortgaged Property or Mortgaged Properties, for purposes of REMIC qualification of the related Mortgage Loan, then such
calculation shall, unless then permitted by the REMIC Provisions, exclude the value of personal property and going concern value,
if any, as determined by an appropriate third party.

 

If,
following any such release or taking, the loan-to-value ratio as calculated is greater than 125%, the Master Servicer
or the Special Servicer, as the case may be, shall require payment of principal by a “qualified amount” as determined
under Revenue Procedure 2010-30 or successor provisions, unless the related Mortgagor provides an Opinion of Counsel that
if such amount is not paid, the related Mortgage Loan will not fail to be a “qualified mortgage” within the meaning
of Section 860G(a)(3) of the Code.

 

The
Special Servicer shall use its reasonable efforts to the extent possible to cause each Specially Serviced Loan to fully amortize
prior to the Rated Final Distribution Date and shall not agree to a modification, waiver or amendment of any term of any Specially
Serviced Loan if such modification, waiver or amendment would (1) extend the maturity date of any such Specially Serviced
Loan to a date occurring later than the earlier of (a) five (5) years prior to the Rated Final Distribution Date and
(b) if such Specially Serviced Loan is secured solely or primarily by a leasehold estate and not also the related fee interest,
the date occurring twenty (20) years or, to the extent consistent with the Servicing Standard giving due consideration to
the remaining term of the ground lease and, ((A) prior to the occurrence and continuance of a Control Termination Event and
other than with respect to any Excluded Loan, with the consent of the Directing Certificateholder pursuant to Section 6.08
and (B) after the occurrence and during the continuance of an Operating Advisor Consultation Event, after consulting
with the Operating Advisor if and to the extent required pursuant to Section 6.08(a)) ten (10) years prior to the
expiration of such leasehold estate (including any options to extend such leasehold estate exercisable unilaterally by the related
Mortgagor), or (2) provide for the deferral of interest unless interest accrues on the related Mortgage Loan, or Serviced
Whole Loan generally at the related Mortgage Rate.

 

(c)               
Any provision of this Section 3.18 to the contrary notwithstanding, except when a Mortgage Loan and/or Companion Loan is
in default or default with respect thereto is reasonably foreseeable, no fee described in this Section 3.18 shall be collected
by the Master Servicer or the Special Servicer from a Mortgagor (or on behalf of the Mortgagor) in conjunction with any consent
or any modification, waiver or amendment of a Mortgage Loan or Companion Loan, as applicable (unless the amount thereof is specified
in the related Mortgage Note) if the collection of such fee would cause such consent, modification, waiver or amendment to be
a “significant modification” of the Mortgage Note within the meaning of Treasury Regulations Section 1.860G-2(b).

 

(d)              
To the extent consistent with this Agreement (including, without limitation, the first sentence of Section 3.18(a), and
Section 6.08), the Master Servicer (as provided in Section 3.08(a), Section 3.08(b) and this Section 3.18
if such matter constitutes a Master Servicer Decision) or the Special Servicer (as provided in Section 3.08(a), Section
3.08(b) and Section 3.18(a) if any such waiver, modification or amendment constitutes a Major Decision) may,

 

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consistent
with the Servicing Standard, agree to any waiver, modification or amendment of a Mortgage Loan and/or Serviced Companion Loan
that is not in default or as to which default is not reasonably foreseeable only if the contemplated waiver, modification or amendment
(i) will not be a “significant modification” of the Mortgage Loan within the meaning of Treasury Regulations
Section 1.860G-2(b) and (ii) will not cause (x) any Trust REMIC to fail to qualify as a REMIC for purposes
of the Code or (y) any Trust REMIC to be subject to any tax under the REMIC Provisions. In making this determination, the
Master Servicer or the Special Servicer may obtain and rely upon (and shall provide to the Trustee and the Certificate Administrator
if obtained) an Opinion of Counsel (at the expense of the related Mortgagor or such other Person requesting such modification
or, if such expense cannot be collected from the related Mortgagor or such other Person, to be paid out of the Collection Account
pursuant to Section 3.05(a); provided that the Master Servicer or the Special Servicer, as the case may be, shall
use its reasonable efforts to collect such fee from the Mortgagor or such other Person to the extent permitted under the related
Mortgage Loan documents). Notwithstanding the foregoing, neither the Master Servicer nor the Special Servicer may waive the payment
of any Prepayment Premium or Yield Maintenance Charge or the requirement that any prepayment of a Mortgage Loan be made on a Due
Date, or if not made on a Due Date, be accompanied by all interest that would be due on the next Due Date with respect to any
Mortgage Loan or Serviced Companion Loan that is not a Specially Serviced Loan.

 

(e)               
Subject to Section 3.18(c), the Master Servicer and the Special Servicer each may, as a condition to its granting any request
by a Mortgagor for consent, modification (including extensions), waiver or indulgence or any other matter or thing, the granting
of which is within the Master Servicer’s or the Special Servicer’s, as the case may be, discretion pursuant to the
terms of the instruments evidencing or securing the related Mortgage Loan or Companion Loan and is permitted by the terms of this
Agreement, require that such Mortgagor pay to the Master Servicer or the Special Servicer, as the case may be, as additional servicing
compensation, a reasonable or customary fee, for the additional services performed in connection with such request; provided
that the charging of such fee is not a “significant modification” of the Mortgage Loan within the meaning of Treasury
Regulations Section 1.860G-2(b).

 

(f)               
All modifications (including extensions), waivers and amendments of the Mortgage Loans and/or Companion Loans entered into pursuant
to this Section 3.18 shall be in writing, signed by the Master Servicer or the Special Servicer, as the case may be, and
the related Mortgagor (and by any guarantor of the related Mortgage Loan, if such guarantor’s signature is required by the
Special Servicer in accordance with the Servicing Standard).

 

(g)              
With respect to any modification, waiver, amendment or consent for which it is responsible for processing pursuant to Section
3.18, the Special Servicer shall notify the Master Servicer, the Trustee, the Certificate Administrator, the Operating Advisor
(after the occurrence and during the continuance of an Operating Advisor Consultation Event), the Directing Certificateholder
(other than (i) following the occurrence and continuance of a Consultation Termination Event and (ii) with respect to
any Excluded Loan), the applicable Companion Holder (unless, with respect to a Subordinate Companion Holder, an AB Control Appraisal
Period has occurred, if applicable), the related Mortgage Loan Seller (if such Mortgage Loan Seller is not the Master Servicer
or Sub-Servicer of such Mortgage Loan or the Directing Certificateholder) and the 17g-5 Information Provider (which shall
promptly post such notice on the 17g-5 Information

 

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Provider’s
Website in accordance with Section 3.13(c)) in writing of any modification, waiver, amendment or consent (in each case,
after it is finalized and executed) of any term of any Mortgage Loan or Companion Loan that is modified, waived or amended and
the date thereof. With respect to any modification, waiver, amendment or consent (in each case, after it is finalized and executed)
for which it is responsible for processing pursuant to this Section 3.18, the Master Servicer shall provide written notice
of any such modification, waiver, amendment or consent to the Trustee, the Certificate Administrator, the Special Servicer (and,
unless a Consultation Termination Event has occurred and is continuing, the Special Servicer shall forward any such notice to
the Directing Certificateholder (other than with respect to an Excluded Loan)), the applicable Companion Holder (unless, with
respect to a Subordinate Companion Holder, an AB Control Appraisal Period has occurred, if applicable) and the related Mortgage
Loan Seller (so long as such Mortgage Loan Seller is not the Master Servicer or Sub-Servicer of such Mortgage Loan or the Directing
Certificateholder) and the 17g-5 Information Provider (which shall promptly post such notice on the 17g-5 Information
Provider’s Website in accordance with Section 3.13(c)). The party responsible for delivering notice shall deliver
to the Custodian with a copy to the Master Servicer (if such notice is being delivered by the Special Servicer) for deposit in
the related Mortgage File, an original counterpart of the agreement relating to such modification, waiver, amendment or consent,
promptly (and in any event within ten (10) Business Days) following the execution thereof, with a copy to the applicable
Companion Holder, if any. Following receipt of the Master Servicer’s or the Special Servicer’s, as the case may be,
delivery of the aforesaid modification, waiver, amendment or consent to the Certificate Administrator, the Certificate Administrator
shall forward a copy thereof to each Holder of a Certificate (other than the Class R Certificates). With respect to the processing
of any modification, waiver or consent related to any Mortgagor incurring additional debt or mezzanine debt, the Special Servicer
(if the Special Servicer processes such modification, waiver or consent pursuant to Section 3.18(a)) or the Master Servicer
(if the Master Servicer processes such modification, waiver or consent pursuant to Section 3.18(m)) shall, on or before
the later of (i) 3:00 p.m. on the related P&I Advance Date and (ii) five (5) Business Days immediately following
the Master Servicer or the Special Servicer, as the case may be, obtaining actual knowledge of the incurrence of such additional
debt or mezzanine debt, deliver notice of the Mortgagor’s incurrence of such debt, substantially in the form of Exhibit KK,
to cts.sec.notifications@wellsfargo.com and an Additional Disclosure Notification in the form attached hereto as Exhibit EE.
The notice contemplated in the preceding sentence shall set forth, to the extent the Special Servicer or the Master Servicer,
as the case may be, has the requisite information or can reasonably obtain such information, (1) the amount of additional
debt that was incurred in the related Collection Period, (2) the total debt service coverage ratio calculated on the basis
of such Mortgage Loan and additional debt, and (3) the aggregate LTV Ratio calculated on the basis of such Mortgage Loan
and additional debt. In the event that either (i) the CREFC® Investor Reporting Package is amended to include
such information set forth above, in a manner reasonably acceptable to the Master Servicer, the Special Servicer and the Certificate
Administrator, as applicable, and the Master Servicer confirms with the Certificate Administrator that such amended CREFC®
Investor Reporting Package enables the Certificate Administrator to include such information on Form 10-D in a
manner reasonably acceptable to the Certificate Administrator, or (ii) the Trust is no longer subject to the Exchange Act,
the additional report in the form of Exhibit KK shall no longer be required hereunder. From time to time, the Master
Servicer, the Special Servicer and the Certificate Administrator may agree on a different delivery time and format for the information
set forth in this paragraph.

 

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(h)              
Subject to the consent rights and process set forth in Section 6.08 with respect to Major Decisions, the Master Servicer
shall process all defeasances of Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced Companion Loans in
accordance with the terms of the related Mortgage Loan documents, and shall be entitled to any defeasance fees paid relating thereto
(provided that for the avoidance of doubt, any such defeasance fee shall not include any Modification Fees or waiver fees
in connection with a defeasance that the Special Servicer is entitled to under this Agreement). Notwithstanding the foregoing,
the Master Servicer shall not permit (or, with regard to any Non-Serviced Mortgage Loan, take any act in furtherance of) the
substitution of any Mortgaged Property pursuant to the defeasance provisions of any Mortgage Loan or a Serviced Whole Loan unless
such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and the Master Servicer has received (i) replacement
collateral consisting of government securities within the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii),
which satisfies the requirements of the applicable Mortgage Loan documents, in an amount sufficient to make all scheduled payments
under the related Mortgage Loan (or defeased portion thereof) when due, (ii) a certificate of an Independent certified public
accountant to the effect that such substituted property will provide cash flows sufficient to meet all payments of interest and
principal (including payments at maturity) on such Mortgage Loan or Serviced Whole Loan in compliance with the requirements of
the terms of the related Mortgage Loan documents and, if applicable, Companion Loan documents, (iii) one or more Opinions
of Counsel (at the expense of the related Mortgagor) to the effect that the Trustee, on behalf of the Trust, will have a first
priority perfected security interest in such substituted Mortgaged Property; provided, however, that, to the extent
consistent with the related Mortgage Loan documents and, if applicable, Companion Loan documents, the related Mortgagor shall
pay the cost of any such opinion as a condition to granting such defeasance, (iv) to the extent consistent with the related
Mortgage Loan documents and, if applicable, Companion Loan documents, the Mortgagor shall establish a single purpose entity to
act as a successor mortgagor, if so required by the Rating Agencies, (v) to the extent permissible under the related Mortgage
Loan documents and, if applicable, Companion Loan documents, the Master Servicer shall use its reasonable efforts to require the
related Mortgagor to pay all costs of such defeasance, including but not limited to the cost of maintaining any successor mortgagor,
and (vi) to the extent permissible under the Mortgage Loan documents and, if applicable, Companion Loan documents, the Master
Servicer shall obtain, at the expense of the related Mortgagor, Rating Agency Confirmation from each Rating Agency and a confirmation
of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may
be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates
pursuant to Section 3.25); provided, further, however, that no such confirmation from any Rating Agency
shall be required to the extent that the Master Servicer has delivered a defeasance certificate substantially in the form of Exhibit U
hereto for any Mortgage Loan that (together with any Mortgage Loans cross-collateralized with such Mortgage Loans) is:
(i) a Mortgage Loan with a Cut-off Date Balance less than $35,000,000, (ii) a Mortgage Loan that represents less
than 5% of the aggregate Cut-off Date Balance of all Mortgage Loans, and (iii) a Mortgage Loan that is not one of the
ten largest Mortgage Loans by Stated Principal Balance. Notwithstanding the foregoing, in the event that requiring the Mortgagor
to pay for the items specified in clauses (ii), (iv) and (v) in the preceding sentence would be inconsistent with

 

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the
related Mortgage Loan documents, such reasonable costs shall be paid by the related Mortgage Loan Seller as and to the extent
set forth in the applicable Mortgage Loan Purchase Agreement.

 

(i)                
Notwithstanding anything herein or in the related Mortgage Loan documents and, if applicable, Companion Loan documents, to the
contrary, the Master Servicer may permit the substitution of “government securities,” within the meaning of Section 2(a)(16)
of the Investment Company Act of 1940, that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii) for any Mortgaged
Property pursuant to the defeasance provisions of any Mortgage Loan or a Serviced Whole Loan, as applicable (or any portion thereof),
in lieu of the defeasance collateral specified in the related Mortgage Loan documents or Serviced Whole Loan documents, as applicable;
provided that such substitution is consistent with the Servicing Standard and the Master Servicer reasonably determines
that allowing their use would not cause a default or event of default to become reasonably foreseeable and the Master Servicer
receives an Opinion of Counsel (at the expense of the Mortgagor to the extent permitted under the Mortgage Loan documents and,
if applicable or Companion Loan documents or otherwise as a Trust Fund expense) to the effect that such use would not be and would
not constitute a “significant modification” of such Mortgage Loan or Companion Loan pursuant to Treasury Regulations
Section 1.860G-2(b) and would not otherwise constitute an Adverse REMIC Event with respect to any Trust REMIC; and provided,
further, that the requirements set forth in Section 3.18(h) (including receipt of any Rating Agency Confirmation)
are satisfied; and provided, further, that such securities are backed by the full faith and credit of the United
States government, or the Master Servicer shall obtain Rating Agency Confirmation from each Rating Agency and a confirmation of
any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may
be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates
pursuant to Section 3.25).

 

Notwithstanding
the foregoing, with respect to the Mortgage Loans identified as Mortgage Loan Numbers 1, 2, 8, 11, 14, 15, 20, 21, 22, 29, 33,
37, 38, 39, 42, 47, 49 and 50 on the Mortgage Loan Schedule for which KeyBank, UBS, NREC or Rialto is the applicable Mortgage
Loan Seller and that are subject to defeasance, the related Mortgage Loan Seller has transferred to a third party or has retained
on behalf of itself or an Affiliate the right to establish or designate the successor borrower and/or to purchase or cause to
be purchased the related defeasance collateral (any such right or obligation, the “Retained Defeasance Rights and Obligations”).
In the event the Master Servicer receives notice of a defeasance request with respect to a Mortgage Loan for which KeyBank, UBS,
NREC or Rialto is the related Mortgage Loan Seller, which such Mortgage Loan provides for Retained Defeasance Rights and Obligations
in the related Mortgage Loan documents, the Master Servicer shall provide, within five (5) Business Days of receipt of such
notice, written notice of such defeasance request to KeyBank, UBS, NREC or Rialto, as applicable. Until such time as the related
Mortgage Loan Seller provides the Master Servicer with written notice to the contrary, the notice of a defeasance of a Mortgage
Loan with Retained Defeasance Rights and Obligations as to which KeyBank, UBS, NREC or Rialto is the related Mortgage Loan Seller
shall be delivered to the related Mortgage Loan Seller. With respect to any such Mortgage Loan that is subject to defeasance,
if the successor borrower is not designated or formed by the related Mortgage Loan Seller or any Affiliate or successor thereto,
the successor

 

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borrower
shall be reasonably acceptable to the Master Servicer in accordance with the Servicing Standard.

 

(j)                
If required under the related Mortgage Loan or Companion Loan documents or if otherwise consistent with the Servicing Standard,
the Master Servicer shall establish and maintain one or more accounts (the “Defeasance Accounts”), which shall
be Eligible Accounts, into which all payments received by the Master Servicer from any defeasance collateral substituted for any
Mortgaged Property shall be deposited and retained, and shall administer such Defeasance Accounts in accordance with the Mortgage
Loan or Companion Loan documents. Notwithstanding the foregoing, in no event shall the Master Servicer permit such amounts to
be maintained in the Defeasance Account for a period in excess of ninety (90) days, unless such amounts are reinvested by
the Master Servicer in “government securities,” within the meaning of Section 2(a)(16) of the Investment Company
Act of 1940, that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii). To the extent not required or permitted
to be placed in a separate account, the Master Servicer shall deposit all payments received by it from defeasance collateral substituted
for any Mortgaged Property into the Collection Account and treat any such payments as payments made on the Mortgage Loan or Companion
Loan in advance of its Due Date in accordance with clause (a)(i) of the definition of “Available Funds” and not
as a prepayment of the related Mortgage Loan or Companion Loan. Notwithstanding anything herein to the contrary, in no event shall
the Master Servicer permit such amounts to be maintained in the Collection Account for a period in excess of 365 days (or
366 days in the case of a leap year).

 

(k)              
Notwithstanding anything to the contrary in this Agreement, neither the Master Servicer nor the Special Servicer, as the case
may be, shall, unless it has received Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings
of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25) (the cost of which shall be paid by the related Mortgagor, if so allowed by the terms of the related loan
documents and otherwise paid out of general collections) grant or accept any consent, approval or direction regarding the termination
of the related property manager or the designation of any replacement property manager, with respect to any Mortgaged Property
that secures a Mortgage Loan that (i) is one of the ten largest Mortgage Loans a by Stated Principal Balance or (ii) has
an unpaid principal balance that is at least equal to five percent (5%) of the then-aggregate principal balance of all Mortgage
Loans or $35,000,000.

 

(l)                
Notwithstanding anything to the contrary in this Agreement, in connection with any modification, waiver, consent or amendment
in connection with any release of collateral securing any Mortgage Loan in connection with a defeasance of such collateral, the
Special Servicer shall not approve any such modification, waiver or amendment or consent thereto without first having received
a copy of an Opinion of Counsel addressed to the Special Servicer and the Master Servicer that such modification, waiver, consent
or amendment will not cause an Adverse REMIC Event to the extent the Special Servicer determines in accordance with the Servicing
Standard that such Opinion of Counsel is reasonably necessary.

 

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(m)            
Notwithstanding any other provisions of this Section 3.18 or Section 3.08, but subject to any related Intercreditor
Agreement, the Master Servicer may, without any Directing Certificateholder approval or consent (except as otherwise provided
below in the definition of Master Servicer Decision) or the Special Servicer’s approval or consent, take any of the following
actions with respect to Mortgage Loans that are not Specially Serviced Loans and any related Serviced Companion Loan (each such
action, a “Master Servicer Decision”): (i) grant waivers of non-material covenant defaults (other
than financial covenants), including late (but not waived) financial statements except that (other than with respect to any Excluded
Loan, and prior to the occurrence and continuance of a Control Termination Event) the Directing Certificateholder’s consent
(or deemed consent) shall be required to grant waivers of more than three consecutive late deliveries of financial statements;
(ii) consents to releases of non-material, non-income producing parcels of a Mortgaged Property that do not materially
affect the use or value of the related Mortgaged Property or the ability of the related Mortgagor to pay amounts due in respect
of the Mortgage Loan as and when due, provided such releases are required by the related Mortgage Loan documents; (iii) approve
or consent to grants of easements or rights of way (including, without limitation for utilities, access, parking, public improvements
or another purpose) or subordination of the lien of the Mortgage Loan to easements, except that, prior to the occurrence and continuance
of any Control Termination Event and other than in the case of any Excluded Loan, the Directing Certificateholder’s consent
(or deemed consent) shall be required to approve or consent to grants of easements or rights of way that materially affect the
use or value of a Mortgaged Property or a Mortgagor’s ability to make payments with respect to the related Mortgage Loan
or any related Companion Loan; (iv) grant other routine approvals, including granting of subordination, non-disturbance
and attornment agreements and consents involving leasing activities (other than for ground leases) (provided that, prior
to the occurrence and continuance of a Control Termination Event and other than in the case of any Excluded Loan, the Directing
Certificateholder’s consent (or deemed consent) shall be required for leasing activities that affect an area greater than
or equal to 30% of the net rentable area of the improvements at the Mortgaged Property), including approval of new leases
and amendments to current leases; (v) consent to actions and releases related to condemnation of parcels of a Mortgaged Property
(provided that, prior to the occurrence and continuance of a Control Termination Event and other than in the case of any
Excluded Loan, the Directing Certificateholder’s consent (or deemed consent) shall be required in connection with any condemnation
with respect to a material parcel or a material income producing parcel or any condemnation that materially affects the use or
value of the related Mortgaged Property or the ability of the related Mortgagor to pay amounts due in respect of the related Mortgage
Loan or Companion Loan when due); (vi) consent to a change in property management relating to any Mortgage Loan or any related
Companion Loan if the replacement property manager is not a Borrower Party (provided that, prior to the occurrence and
continuance of any Control Termination Event and other than in the case of any Excluded Loan, the Directing Certificateholder’s
consent (or deemed consent) shall be required for any Mortgage Loan (including any related Companion Loans) that has an outstanding
principal balance equal to or greater than $10,000,000); (vii) approve annual operating budgets for Mortgage Loans; (viii) consent
to any releases or reductions of or withdrawals from (as applicable) any letters of credit, escrow funds, reserve funds or other
additional collateral with respect to any Mortgage Loan, except that (other than with respect to any Excluded Loan and prior to
the occurrence and continuance of a Control Termination Event) the Directing Certificateholder’s consent (or deemed consent)
shall be required for earnout, holdback or performance reserve releases specifically

 

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scheduled
on Schedule 3 to this Agreement for which there is lender discretion; (ix) grant any extension or enter into any forbearance
with respect to the anticipated refinancing of a Mortgage Loan or sale of a Mortgaged Property after the related Maturity Date
of such Mortgage Loan so long as (A) such extension or forbearance does not extend beyond 120 days after the related
Maturity Date and (B) the related Mortgagor has delivered documentation (and the Master Servicer shall promptly forward such
documentation to the Directing Certificateholder) reasonably satisfactory in form and substance to the Master Servicer, which
provides that a refinancing of such Mortgage Loan or sale of the related Mortgaged Property will occur within 120 days after
the date on which such Balloon Payment will become due; (x) any modification, amendment, consent to a modification or waiver
of any term of any Intercreditor Agreement, except that (other than with respect to any Excluded Loan and other than with respect
to amendments to split or resize notes consistent with the terms of such Intercreditor Agreement) the Directing Certificateholder’s
consent (or deemed consent) shall be required for any such modification, amendment, consent to a modification or waiver of any
term of any Intercreditor Agreement other than during a Control Termination Event, and if any modification or amendment would
adversely impact the Special Servicer, such modification or amendment will additionally require the consent of the Special Servicer
as a condition to its effectiveness; (xi) any determination of an Acceptable Insurance Default, except that, prior to the occurrence
and continuance of any Control Termination Event and other than in the case of any Excluded Loan, the Directing Certificateholder’s
consent (or deemed consent) shall be required in accordance with the terms of this Agreement for any such determination; (xii) approve
or consent to any defeasance of the related Mortgage Loan or Serviced Companion Loan other than agreeing to (A) a modification
of the type of defeasance collateral required under the Mortgage Loan or Serviced Whole Loan documents other than direct, non-callable
obligations of the United States would be permitted or (B) a modification that would permit a principal prepayment instead
of defeasance if the Mortgage Loan or Serviced Whole Loan documents do not otherwise permit such principal prepayment; (xiii)
any assumption of the Mortgage Loan or transfer of the Mortgaged Property, in each case, that the loan documents allow without
the consent of the mortgagee but subject to satisfaction of conditions specified in the loan documents where no mortgagee discretion
is necessary in order to determine if such conditions are satisfied; and (xiv) grant or agree to any other waiver, modification,
amendment and/or consent that does not constitute a Major Decision; provided that (w) any such action would not in
any way affect a payment term of the Certificates, (x) any such action would not constitute a “significant modification”
of such Mortgage Loan or Companion Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise
cause either Trust REMIC to fail to qualify as a REMIC for federal income tax purposes (as evidenced by an Opinion of Counsel
(at the expense of the Trust to the extent not reimbursed or paid by the related Mortgagor), to the extent requesting such opinion
is consistent with the Servicing Standard), (y) agreeing to such action would be consistent with the Servicing Standard,
and (z) agreeing to such action would not violate the terms, provisions or limitations of this Agreement or any Intercreditor
Agreement; provided, further, that, in the case of any Master Servicer Decision that requires the consent of the
Directing Certificateholder, such consent shall be deemed given if a response to the request for consent is not provided within
10 Business Days after receipt of the Master Servicer’s written recommendation and analysis and all information reasonably
requested by the Directing Certificateholder, and reasonably available to the Master Servicer, in order to grant or withhold such
consent; provided, further, that in the case of any Master Servicer Decision that requires the consent of the Directing
Certificateholder, after the occurrence and during the continuance of a

  

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Control
Termination Event but prior to the occurrence and continuance of a Consultation Termination Event, the Directing Certificateholder
shall be entitled to consult with the Master Servicer on a non-binding basis (provided that if the Directing Certificateholder
fails to respond to a request for consultation within 10 Business Days after receipt of such request for consultation (together
with all information reasonably requested by the Directing Certificateholder, and reasonably available to the Master Servicer,
in order to so consult) from the Master Servicer, the Master Servicer shall have no further obligation to consult with the Directing
Certificateholder with respect to such Master Servicer Decision, provided, however, that the failure of the Directing
Certificateholder to respond will not relieve the Master Servicer from its obligation to consult with the Directing Certificateholder
on any future matters). The foregoing is intended to be an itemization of actions the Master Servicer may take without having
to obtain the approval of any other party and is not intended to limit the responsibilities of the Master Servicer hereunder.

 

(n)              
Neither the Master Servicer nor the Special Servicer shall modify any Mortgage Loan into an AB Modified Loan unless the documents
evidencing such modification provide that all payments on the junior or “B” portion of such AB Modified Loan (including
interest, principal and other amounts) shall only be payable after the point in time at which all interest and principal on the
senior or “A” portion of such AB Modified Loan shall have been paid in full and such senior or “A” portion
shall no longer be outstanding; provided, however, that interest and other amounts in respect of such junior or
“B” portion may accrue prior to such point in time.

 

Section
3.19        Transfer of Servicing between the Master Servicer and the Special Servicer;
Recordkeeping; Asset Status Report. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any
Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Companion Loan, the Master Servicer or the Special Servicer,
as the case may be, shall promptly give notice to the Master Servicer or the Special Servicer, as the case may be, the Operating
Advisor and ((i) prior to the occurrence and continuance of a Consultation Termination Event and (ii) other than with
respect to any Excluded Loan) the Directing Certificateholder thereof, and the Master Servicer shall deliver the related Mortgage
File and Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File, exclusive of all Privileged
Communications, to the Operating Advisor. The Master Servicer shall use its reasonable efforts to provide the Special Servicer
with all documents and records (including records stored electronically on computer tapes, magnetic discs and the like) relating
to such Mortgage Loan and, if applicable, the related Serviced Companion Loan, either in the Master Servicer’s possession
or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer
to enable it to assume its functions hereunder with respect thereto. The Master Servicer shall use its reasonable efforts to comply
with the preceding sentence within five (5) Business Days of the occurrence of each related Servicing Transfer Event (or,
in the case of clauses (viii) or (ix) of the definition of “Servicing Transfer Event”, within five (5) Business
Days of receiving notice from the Special Servicer of such Servicing Transfer Event when the Special Servicer makes the determination)
and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and, if applicable, the related
Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and, if applicable, the related
Serviced Companion Loan. The Master Servicer shall deliver to the Trustee, the Certificate Administrator, the Operating Advisor,
and ((i) prior to the occurrence and continuance of a Consultation Termination Event or (ii) other

 

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than
with respect to any Excluded Loan) the Directing Certificateholder, a copy of the notice of such Servicing Transfer Event provided
by the Master Servicer to the Special Servicer, or by the Special Servicer to the Master Servicer, pursuant to this Section
3.19. Prior to the occurrence and continuance of a Consultation Termination Event, the Certificate Administrator shall deliver
to each Controlling Class Certificateholder a copy of the notice of such Servicing Transfer Event provided by the Master Servicer
pursuant to this Section 3.19.

 

Upon
determining that a Specially Serviced Loan (other than an REO Loan) has become current and has remained current for three consecutive
Periodic Payments (provided that (i) no additional Servicing Transfer Event is foreseeable in the reasonable judgment
of the Special Servicer, and (ii) for such purposes taking into account any modification or amendment of such Mortgage Loan
and, if applicable, the related Companion Loan), and that no other Servicing Transfer Event is continuing with respect thereto,
the Special Servicer shall immediately give notice thereof to the Master Servicer, the Operating Advisor, the related Serviced
Companion Noteholder (unless with respect to an AB Subordinate Companion Loan an AB Control Appraisal Period has occurred) and
((i) prior to the occurrence and continuance of a Consultation Termination Event and (ii) other than with respect to
any Excluded Loan) the Directing Certificateholder and shall return the related Mortgage File and Servicing File to the Master
Servicer (or copies thereof if copies only were delivered to the Special Servicer) and upon giving such notice, and returning
such Mortgage File and Servicing File to the Master Servicer, the Special Servicer’s obligation to service such Corrected
Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and, if applicable,
the related Companion Loan shall recommence.

 

(b)              
In servicing any Specially Serviced Loans and Serviced Companion Loans, the Special Servicer will provide to the Custodian originals
of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage File to the extent
within its possession (with a copy of each such original to the Master Servicer), and provide the Master Servicer with copies
of any additional related Mortgage Loan or Serviced Companion Loan information including correspondence with the related Mortgagor.

 

(c)               
Notwithstanding the provisions of Section 3.12(c), the Master Servicer shall maintain ongoing payment records with respect
to each of the Specially Serviced Loans, Serviced Companion Loans and REO Properties (other than with respect to a Non-Serviced
Mortgage Loan) and shall provide the Special Servicer with any information in its possession with respect to such records to enable
the Special Servicer to perform its duties under this Agreement; provided that this statement shall not be construed to
require the Master Servicer to produce any additional reports.

 

(d)              
No later than sixty (60) days after a Servicing Transfer Event for a Mortgage Loan (other than a Non-Serviced Mortgage Loan)
and, if applicable, the related Companion Loan (the “Initial Delivery Date”), the Special Servicer shall deliver
in electronic format a report (the “Asset Status Report”) with respect to such Mortgage Loan and related Companion
Loan, if applicable, and the related Mortgaged Property to the Master Servicer, the Directing Certificateholder (but only in respect
of any Mortgage Loan other than (A) any Excluded Loan or (B) any Serviced AB Whole Loan prior to the occurrence of an
AB Control Appraisal Period, and in any event prior to the occurrence and continuance of a Consultation Termination Event), the

 

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Operating
Advisor (but, other than with respect to an Excluded Loan, only after the occurrence and during the continuance of an Operating
Advisor Consultation Event), with respect to a Serviced AB Whole Loan, to the extent the related Subordinate Companion Loan is
not subject to an AB Control Appraisal Period, the holder of the Subordinate Companion Loan and the 17g-5 Information Provider
(which shall promptly post such report on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c))
and, with respect to any related Serviced Companion Loan, to the related Companion Holder or, to the extent the related Serviced
Companion Loan has been included in an Other Securitization, to the master servicer of such Other Securitization into which the
related Serviced Companion Loan has been sold; the Special Servicer shall also deliver a summary of each Final Asset Status Report
to the Certificate Administrator and the Certificate Administrator shall post the summary of the Final Asset Status Report to
the Certificate Administrator’s Website. Subsequent to the issuance of a Final Asset Status Report to the extent that during
the course of the resolution of such Specially Serviced Loan material changes in the strategy reflected in the initial Final Asset
Status Report (or subsequent Final Asset Status Reports) are necessary to reflect the then current circumstances and recommendation
as to how the Specially Serviced Loan might be returned to performing status or otherwise liquidated in accordance with the Servicing
Standard, the Special Servicer shall prepare one or more additional Asset Status Reports with respect to such Specially Serviced
Loan (each such report a “Subsequent Asset Status Report”). For the avoidance of doubt, the Master Servicer
shall not make any Asset Status Reports available to any Certificateholders on its website. None of the parties to this Agreement
shall provide any Asset Status Report or any Final Asset Status Report to the Certificate Administrator. Further, the Certificate
Administrator shall not request any Asset Status Report or Final Asset Status Report from the Master Servicer. Such Asset Status
Report shall set forth the following information to the extent reasonably determinable based on the information that was delivered
to the Special Servicer in connection with the transfer of servicing pursuant to the Servicing Transfer Event:

 

(i)                 
a summary of the status of such Specially Serviced Loan and any negotiations with the related Mortgagor;

 

(ii)              
a discussion of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing
Standard, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other
collateral for the related Mortgage Loan (and any related Serviced Companion Loan) and whether outside legal counsel has been
retained;

 

(iii)              
the most current rent roll, and income or operating statement available for the related Mortgaged Property;

 

(iv)            
(A) the Special Servicer’s recommendations on how such Specially Serviced Loan might be returned to performing status (including
the modification of a monetary term, and any workout, restructure or debt forgiveness) and returned to the Master Servicer for
regular servicing or otherwise realized upon (including any proposed sale of a Defaulted Loan or REO Property), (B) a description
of any such proposed or taken actions, and (C) the alternative courses of action that were or are being considered by the
Special Servicer in connection with the proposed or taken actions;

 

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(v)               
the status of any foreclosure actions or other proceedings undertaken with respect to the Specially Serviced Loan, any proposed
workouts and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional defaults
under the related Mortgage Loan or Serviced Whole Loan;

 

(vi)               
a description of any amendment, modification or waiver of a material term of any ground lease (or any space lease or air rights
lease, if applicable) or franchise agreement;

 

(vii)               
the decision that the Special Servicer made, or intends or proposes to make, including a narrative analysis setting forth the
Special Servicer’s rationale for its proposed decision, including its rejection of the alternatives;

 

(viii)               
an analysis of whether or not taking such proposed action is reasonably likely to produce a greater recovery on a present value
basis than not taking such action, setting forth (x) the basis on which the Special Servicer made such determination and
(y) the net present value calculation and all related assumptions;

 

(ix)               
the appraised value of the related Mortgaged Property (and a copy of the last obtained Appraisal of such Mortgaged Property) together
with a description of any adjustments to the valuation of such Mortgaged Property made by the Special Servicer together with an
explanation of those adjustments; and

 

(x)               
such other information as the Special Servicer deems relevant in light of the Servicing Standard.

 

If
within ten (10) Business Days of receiving an Asset Status Report, the Directing Certificateholder does not disapprove such
Asset Status Report in writing or if the Special Servicer makes a determination, in accordance with the Servicing Standard that
the disapproval by the Directing Certificateholder (communicated to the Special Servicer within ten (10) Business Days) is
not in the best interest of all the Certificateholders and the holder of any related Companion Loan, as a collective whole (taking
into account the pari passu or subordinate nature of any Companion Loan), the Special Servicer shall implement the recommended
action as outlined in such Asset Status Report; provided, however, that the Special Servicer may not take any action
that is contrary to applicable law, the Servicing Standard or the terms of the applicable Mortgage Loan documents. If, with respect
to any Mortgage Loan other than an Excluded Loan, prior to the occurrence and continuance of any Control Termination Event, the
Directing Certificateholder disapproves such Asset Status Report within ten (10) Business Days of receipt and the Special
Servicer has not made the affirmative determination described above, the Special Servicer shall revise such Asset Status Report
and deliver a new Asset Status Report as soon as practicable, but in no event later than thirty (30) days after such disapproval,
to the Master Servicer, the Directing Certificateholder (prior to the occurrence and continuance of a Consultation Termination
Event and, in the case of a Serviced AB Whole Loan, only prior to the occurrence and during the continuance of a Consultation
Termination Event and during an AB Control Appraisal Period with respect to the related AB Subordinate Companion Loan), the Operating
Advisor (but only after the occurrence and during the continuance of an Operating Advisor Consultation Event) and the 17g-5
Information Provider (which shall promptly post such report on the 17g-5 Information Provider’s

 

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Website
in accordance with Section 3.13(c)). With respect to any Mortgage Loan other than an Excluded Loan, prior to the occurrence
and continuance of any Control Termination Event, the Special Servicer shall revise such Asset Status Report as described above
in this Section 3.19(d) until the Directing Certificateholder (or, with respect to a Serviced AB Whole Loan prior to the
occurrence and continuance of a AB Control Appraisal Period and to the extent required by the terms of the related Intercreditor
Agreement, the holder of the related Subordinate Companion Loan) shall fail to disapprove such revised Asset Status Report in
writing within ten (10) Business Days of receiving such revised Asset Status Report or until the Special Servicer makes a
determination, in accordance with the Servicing Standard, that the disapproval is not in the best interests of the Certificateholders
and the holder of any related Companion Loan, as a collective whole (taking into account the pari passu or subordinate
nature of any Companion Loan); provided that, if the Directing Certificateholder has not approved the Asset Status Report
for a period of sixty (60) Business Days following the first submission of an Asset Status Report, the Special Servicer shall
follow the direction of the Directing Certificateholder provided, such direction would be consistent with the Servicing Standard;
provided, however, that if the Directing Certificateholder’s direction would cause the Special Servicer to
violate the Servicing Standard, the Special Servicer may act upon the most recently submitted form of Asset Status Report; and
provided, however, that such Asset Status Report does not, and is not intended to be, a substitute for the approvals
that are specifically required pursuant to Section 6.08. The procedures described in this paragraph are collectively referred
to herein as the “Directing Certificateholder Approval Process”. Prior to the occurrence of an Operating Advisor
Consultation Event, the Special Servicer shall deliver each Final Asset Status Report to the Operating Advisor following the conclusion
of the Directing Certificateholder Approval Process.

 

The
Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and implement such report;
provided that such report shall have been prepared, reviewed and not rejected pursuant to the terms of this Section
3.19(d). Notwithstanding anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control
Termination Event has occurred and is continuing), the Special Servicer shall consult with the Operating Advisor, on a non-binding
basis, in connection with an Asset Status Report for an Excluded Loan which includes a Major Decision and consider alternative
actions recommended by the Operating Advisor, in respect thereof, in accordance with the procedures set forth in Section 6.08
for consulting with the Operating Advisor.

 

No
direction or disapproval of the Directing Certificateholder hereunder or under a related Intercreditor Agreement or failure of
the Directing Certificateholder to consent to or approve (including any deemed consents or approvals) any request of the Special
Servicer, shall (a) require or cause the Special Servicer to violate the terms of a Specially Serviced Loan, applicable law
or any provision of this Agreement, including the Special Servicer’s obligation to act in accordance with the Servicing
Standard and to maintain the REMIC status of each Trust REMIC, or (b) result in the imposition of a “prohibited transaction”
or “prohibited contribution” tax under the REMIC Provisions, or (c) expose the Master Servicer, the Special Servicer,
the Depositor, the Operating Advisor, the Mortgage Loan Sellers, the Trust, the Trustee, the Certificate Administrator or their
respective officers, directors, members, employees or agents to any claim, suit or liability or (d) materially expand the
scope of the Special Servicer’s, the Trustee’s or the Master Servicer’s responsibilities under this Agreement.

 

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If an Operating Advisor
Consultation Event has occurred and is continuing, the Special Servicer shall promptly deliver each Asset Status Report prepared
in connection with a Specially Serviced Loan to the Operating Advisor (and if no Consultation Termination Event has occurred and
is continuing and such Specially Serviced Loan is not an Excluded Loan, the Directing Certificateholder). Prior to the occurrence
and continuance of an Operating Advisor Consultation Event, the Operating Advisor’s review of a Final Asset Status Report
shall only provide background information to support the Operating Advisor’s duties concerning the Special Servicer’s
compliance with the Servicing Standard, and the Operating Advisor shall not provide comments to the Special Servicer in respect
of such Final Asset Status Report. After the occurrence and during the continuance of an Operating Advisor Consultation Event,
the Operating Advisor shall provide comments to the Special Servicer in respect of the Asset Status Report, if any, within ten
(10) Business Days following the later of (i) receipt of such Asset Status Report or (ii) receipt of such additional
information reasonably requested by the Operating Advisor related thereto, and propose possible alternative courses of action to
the extent it determines such alternatives to be in the best interest of the Certificateholders (including any Certificateholders
that are holders of the Control Eligible Certificates), as a collective whole. The Special Servicer shall consider such alternative
courses of action and any other feedback provided by the Operating Advisor (and if no Consultation Termination Event has occurred
and is continuing and such Specially Serviced Loan is not an Excluded Loan, the Directing Certificateholder) in connection with
the Special Servicer’s preparation of any Asset Status Report. The Special Servicer may revise the Asset Status Report as
it deems necessary to take into account any input and/or comments from the Operating Advisor (and if no Consultation Termination
Event has occurred and is continuing and such Specially Serviced Loan is not an Excluded Loan, the Directing Certificateholder),
to the extent the Special Servicer determines that the Operating Advisor’s and/or Directing Certificateholder’s input
and/or recommendations are consistent with the Servicing Standard and in the best interest of the Certificateholders as a collective
whole (or, with respect to a Serviced Whole Loan, the best interest of the Certificateholders and the holders of the related Companion
Loan, as a collective whole (taking into account the pari passu or subordinate nature of such Companion Loan)).

 

Promptly upon determining
whether or not to revise any Asset Status Report to take into account any input and/or comments from the Operating Advisor or the
Directing Certificateholder, the Special Servicer shall revise the Asset Status Report, if applicable (but is under no obligation
to follow any particular recommendation of the Operating Advisor or the Directing Certificateholder), and deliver to the Operating
Advisor and the Directing Certificateholder the revised Asset Status Report (until a Final Asset Status Report is issued). The
procedures described in this and the immediately preceding paragraph are collectively referred to as the “ASR Consultation
Process”.

 

After the occurrence
and during the continuance of a Control Termination Event (and at any time with respect to any Excluded Loan), the Directing Certificateholder
shall have no right to consent to any Asset Status Report under this Section 3.19. After the occurrence and during the continuance
of a Control Termination Event but prior to the occurrence and continuance of a Consultation Termination Event, the Directing Certificateholder
(except with respect to any Excluded Loan) and, after the occurrence and during the continuance of an Operating Advisor Consultation
Event, the Operating Advisor, shall consult with the Special Servicer and propose alternative courses of action and provide other
feedback in respect of any Asset Status Report.

 

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After the occurrence and continuance of a Consultation Termination Event (and at
any time with respect to any Excluded Loan), the Directing Certificateholder (other than in its capacity as a Certificateholder)
shall have no right to receive any Asset Status Report or otherwise consult with the Special Servicer with respect to Asset Status
Reports and the Special Servicer shall only be obligated to consult with the Operating Advisor with respect to any Asset Status
Report as described above. The Special Servicer may choose to revise the Asset Status Report as it deems reasonably necessary in
accordance with the Servicing Standard to take into account any input and/or recommendations of the Operating Advisor or the Directing
Certificateholder during the applicable periods described above, but is under no obligation to follow any particular recommendation
of the Operating Advisor or the Directing Certificateholder.

 

Notwithstanding the foregoing,
prior to the occurrence and continuance of an AB Control Appraisal Period with respect to an AB Subordinate Companion Loan, the
Special Servicer shall prepare an Asset Status Report for any Serviced AB Whole Loan, upon it becoming a Specially Serviced Loan
pursuant to this Agreement and the related Intercreditor Agreement, but the Directing Certificateholder will have no approval rights
over any such Asset Status Report, and the consent or approval rights with respect to such Asset Status Report shall be as set
forth in the related Intercreditor Agreement.

 

(e)          
(i) Upon receiving notice of the occurrence of the events described in clause (iv) or (ix) of the definition of Servicing
Transfer Event (without regard to the 60-day or 30-day period, respectively, set forth therein), the Master Servicer shall
with reasonable promptness give notice thereof, and shall use its reasonable efforts to provide the Special Servicer with all information
relating to the Mortgage Loan or Serviced Companion Loan and reasonably requested by the Special Servicer to enable it to negotiate
with the related Mortgagor. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five
(5) Business Days of the occurrence of each such event.

 

(ii)          
After the occurrence and during the continuance of a Control Termination Event, upon receiving notice of the occurrence
of an event described in clause (iv) or (ix) of the definition of Servicing Transfer Event (without regard to the 60-day
or 30-day period, respectively, set forth therein), the Master Servicer shall deliver notice thereof to the Operating Advisor
at the same time such notice is provided to the Special Servicer pursuant to clause (i) above.

 

(f)          
Prior to the occurrence and continuance of a Control Termination Event, no later than two (2) Business Days following
the establishment of a Final Asset Status Report with respect to any Specially Serviced Loan (other than any Excluded Loan), the
Special Servicer shall deliver in electronic format to the Directing Certificateholder a draft notice that will include a draft
summary of the Final Asset Status Report (which briefly summarizes such Final Asset Status Report, but shall not include any Privileged
Information) (and shall deliver each Asset Status Report with respect to a Serviced AB Mortgage Loan prior to the occurrence and
continuance of an AB Control Appraisal Period (to the extent approved by the related Serviced AB Whole Loan Controlling Holder),
to the Directing Certificateholder). With respect to any Mortgage Loan other than an Excluded Loan, if, prior to the occurrence
and continuance of a Control Termination Event, within five (5) Business Days of receipt of such draft summary, the Directing
Certificateholder approves of, or does not disapprove of such draft summary, then the Special Servicer shall deliver

 

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in electronic
format such notice and summary of the Final Asset Status Report to the Certificate Administrator for posting on the Certificate
Administrator’s Website pursuant to Section 3.13(b). If the Directing Certificateholder affirmatively disapproves
of such summary in writing, then within two (2) Business Days of receipt of such disapproval, the Special Servicer shall revise
the summary and deliver such new summary to the Directing Certificateholder until the Directing Certificateholder approves such
draft summary; provided, however, that if the Directing Certificateholder has not approved of the draft summary of
the Final Asset Status Report within twenty (20) Business Days of receipt of the initial draft summary of the Final Asset
Status Report, then the most recent draft summary of the Final Asset Status Report delivered by the Special Servicer prior to such
20th Business Day shall be deemed to be the final summary of the Final Asset Status Report; provided, further,
however, that if at any time the Special Servicer determines that any affirmative disapproval of such draft summary by the
Directing Certificateholder is not in the best interest of all the Certificateholders and the holder of any related Companion Loan,
as a collective whole (taking into account the pari passu or subordinate nature of any Companion Loan), pursuant to the
Servicing Standard, the Special Servicer shall deliver in electronic format such notice and summary of the Final Asset Status Report
to the Certificate Administrator for posting on the Certificate Administrator’s Website pursuant to Section 3.13(b)
notwithstanding such disapproval. The Special Servicer shall promptly deliver (but in any event no later than two (2) Business
Days following its completion) a copy of each Final Asset Status Report to the Operating Advisor. The Special Servicer shall prepare
a summary of any Final Asset Status Report related to any Serviced AB Whole Loan which is not subject to an AB Control Appraisal
Period, which Final Asset Status Report has been approved or deemed approved by the holder of the Serviced AB Whole Loan Controlling
Holder in accordance with the related Intercreditor Agreement (to the extent such Intercreditor Agreement requires such approval
or deemed approval), and deliver in electronic format notice of such Final Asset Status Report and the summary of such Final Asset
Status Report to the Certificate Administrator for posting on the Certificate Administrator’s Website pursuant to Section
3.13(b).

 

(g)          
No provision of this Section 3.19 shall require the Special Servicer to take or to refrain from taking any action
because of any proposal, objection or comment by the Operating Advisor or a recommendation of the Operating Advisor.

 

Section 3.20       
Sub-Servicing Agreements. (a) The Master Servicer and the Special Servicer may enter into Sub-Servicing
Agreements to provide for the performance by third parties of any or all of its respective obligations hereunder; provided
that the Sub-Servicing Agreement as amended or modified: (i) is consistent with this Agreement in all material respects
and requires the Sub-Servicer to comply with all of the applicable conditions of this Agreement; (ii) provides that if
the Master Servicer or the Special Servicer, as the case may be, shall for any reason no longer act in such capacity hereunder
(including, without limitation, by reason of a Servicer Termination Event), the Trustee or its designee shall thereupon assume
all of the rights and, except to the extent they arose prior to the date of assumption, obligations of such party under such agreement,
or, alternatively, may act in accordance with Section 7.02 under the circumstances described therein (subject to Section
3.20(g)); (iii) provides that the Trustee (for the benefit of the Certificateholders and the related Companion Holder
(if applicable) and the Trustee (as holder of the Lower-Tier Regular Interests) shall be a third party beneficiary under such
Sub-Servicing Agreement, but that (except to the extent the Trustee or its designee assumes the obligations of such party thereunder
as contemplated by the immediately preceding clause (ii)) none of the Trust,

 

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the Trustee, the Operating Advisor, the Asset
Representations Reviewer, the Certificate Administrator, the Master Servicer or Special Servicer, as applicable (other than the
Master Servicer or Special Servicer that enters into such Sub-Servicing Agreement), any successor master servicer or successor
special servicer or any Certificateholder (or the related Companion Holder, if applicable) shall have any duties under such Sub-Servicing
Agreement or any liabilities arising therefrom; (iv) permits any purchaser of a Mortgage Loan pursuant to this Agreement to
terminate such Sub-Servicing Agreement with respect to such purchased Mortgage Loan at its option and without penalty; provided,
however, that the Initial Sub-Servicing Agreements may only be terminated by the Trustee or its designees as contemplated
by Section 3.20(g) and in such additional manner and by such other Persons as is provided in such Sub-Servicing Agreement;
(v) does not permit the Sub-Servicer any direct rights of indemnification that may be satisfied out of assets of the Trust
except through the Master Servicer or the Special Servicer, as the case may be, if and only to the extent provided pursuant to
Section 6.04; (vi) does not permit the Sub-Servicer to modify any Mortgage Loan unless and to the extent the Master
Servicer or the Special Servicer, as the case may be, is permitted hereunder to modify such Mortgage Loan; (vii) does not
permit the Sub-Servicer to take any action constituting a Major Decision without the consent of the Master Servicer or the
Special Servicer, as applicable (which consent shall not be granted except in accordance with Section 6.08); (viii) with
respect to any Sub-Servicing Agreement entered into after the Closing Date, if such Sub-Servicer is a Servicing Function
Participant or an Additional Servicer, such Sub-Servicer, at the time the related Sub-Servicing Agreement is entered into,
is not a Prohibited Party; (ix) provides that the Sub-Servicer shall be in default under the related Sub-Servicing
Agreement and such Sub-Servicing Agreement shall be terminated (following the expiration of any applicable grace period) if
the Sub-Servicer fails (A) to deliver by the due date any Exchange Act reporting items required to be delivered to the
Master Servicer, the Certificate Administrator or the Depositor under Article XI or under the Sub-Servicing Agreement
or to the master servicer under any other pooling and servicing agreement that the Depositor is a party to, or (B) to perform
in any material respect any of its covenants or obligations contained in the Sub-Servicing Agreement regarding creating, obtaining
or delivering any Exchange Act reporting items required for any party to this Agreement to perform its obligations under Article XI
or under the Exchange Act reporting items required under any other pooling and servicing agreement that the Depositor is a party
to; and (x) provides that such Sub-Servicing Agreement shall be terminable if at any time the related Sub-Servicer (other
than a Sub-Servicer retained by the Special Servicer) is a Risk Retention Affiliate of the Third Party Purchaser if such Sub-Servicer
is a servicer as contemplated by Item 1108(a)(2). Any successor master servicer or successor special servicer, as applicable, hereunder
shall, upon becoming a successor master servicer or successor special servicer, as applicable, be assigned and may assume any Sub-Servicing
Agreements from the predecessor Master Servicer or Special Servicer, as the case may be (subject to Section 3.20(g)). In
addition, each Sub-Servicing Agreement entered into by the Master Servicer may but need not provide that the obligations of
the Sub-Servicer thereunder may terminate with respect to any Mortgage Loan serviced thereunder at the time such Mortgage Loan
becomes a Specially Serviced Loan; provided, however, that the Sub-Servicing Agreement may provide (if the Sub-Servicing
Agreement provides for Advances by the Sub-Servicer, although it need not so provide) that the Sub-Servicer will continue
to make all Advances and calculations and prepare all reports required under the Sub-Servicing Agreement with respect to Specially
Serviced Loans and continue to collect its Primary Servicing Fees as if no Servicing Transfer Event had occurred and with respect
to REO Properties (and the related

 

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REO Loans) as if no REO Acquisition had occurred and to render such incidental services with
respect to such Specially Serviced Loans and REO Properties as are specifically provided for in such Sub-Servicing Agreement. The
Master Servicer or Special Servicer, as the case may be, shall deliver to the Trustee copies of all Sub-Servicing Agreements, and
any amendments thereto and modifications thereof, entered into by it, in each case promptly upon its execution and delivery of
such documents. References in this Agreement to actions taken or to be taken by the Master Servicer include actions taken or to
be taken by a Sub-Servicer on behalf of the Master Servicer; and, in connection therewith, all amounts advanced by any Sub-Servicer
(if the Sub-Servicing Agreement provides for Advances by the Sub-Servicer, although it need not so provide) to satisfy the obligations
of the Master Servicer hereunder to make Advances shall be deemed to have been advanced by the Master Servicer out of its own funds
and, accordingly, in such event, such Advances shall be recoverable by such Sub-Servicer in the same manner and out of the same
funds as if such Sub-Servicer were the Master Servicer, and, for so long as they are outstanding, such Advances shall accrue interest
in accordance with Section 3.03(d), such interest to be allocable between the Master Servicer and such Sub-Servicer as may
be provided (if at all) pursuant to the terms of the Sub-Servicing Agreement. For purposes of this Agreement, the Master Servicer
shall be deemed to have received any payment when a Sub-Servicer retained by it receives such payment. The Master Servicer or the
Special Servicer, as the case may be, shall notify the Master Servicer or the Special Servicer, as the case may be, the Trustee
and the Depositor (and the Special Servicer shall notify the Operating Advisor) in writing promptly of the appointment by it of
any Sub-Servicer, except that the Master Servicer need not provide such notice as to the Initial Sub-Servicing Agreements.

 

(b)          
Each Sub-Servicer shall be authorized to transact business in the state or states in which the related Mortgaged Properties
it is to service are situated, if and to the extent required by applicable law to the extent necessary to ensure the enforceability
of the related Mortgage Loans or the compliance with its obligations under the Sub-Servicing Agreement and the Master Servicer’s
obligations under this Agreement.

 

(c)          
As part of its servicing activities hereunder, the Master Servicer and the Special Servicer for the benefit of the Trustee
and the Certificateholders, shall (at no expense to the Trustee, the Certificateholders or the Trust) monitor the performance and
enforce the obligations of each of its Sub-Servicers under the related Sub-Servicing Agreement, except that the Master Servicer
shall be required only to use reasonable efforts to cause any Initial Sub-Servicer to comply with the requirements of Article XI.
Such enforcement, including, without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements in accordance
with their respective terms and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent
and at such time as is in accordance with the Servicing Standard. The Master Servicer or Special Servicer, as applicable, shall,
subject to the terms of the related Sub-Servicing Agreement, have the right to remove a Sub-Servicer retained by it at any time
it considers removal to be in the best interests of the Certificateholders.

 

(d)          
In the event the Trustee or its designee becomes a successor master servicer and assumes the rights and obligations of the
Master Servicer under any Sub-Servicing Agreement, the Master Servicer, at its expense, shall deliver to the assuming party
all documents and records relating to such Sub-Servicing Agreement and the Mortgage Loans and, if applicable, the Companion
Loans then being serviced thereunder and an accounting of amounts collected and held

 

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on behalf of it thereunder, and otherwise
use reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreement to the assuming party.

 

(e)          
Notwithstanding the provisions of any Sub-Servicing Agreement and this Section 3.20, except to the extent provided
in Article XI with respect to the obligations of any Sub-Servicer that is an Initial Sub-Servicer, the Master
Servicer shall remain obligated and responsible to the Trustee, the Special Servicer, holders of the Companion Loans serviced hereunder
and the Certificateholders for the performance of its obligations and duties under this Agreement in accordance with the provisions
hereof to the same extent and under the same terms and conditions as if it alone were servicing and administering the Mortgage
Loans for which it is responsible, and the Master Servicer shall pay the fees of any Sub-Servicer thereunder as and when due
from its own funds. In no event shall the Trust bear any termination fee required to be paid to any Sub-Servicer as a result
of such Sub-Servicer’s termination under any Sub-Servicing Agreement.

 

(f)          
The Trustee, upon the request of the Master Servicer, shall furnish to any Sub-Servicer any documents necessary or appropriate
to enable such Sub-Servicer to carry out its servicing and administrative duties under any Sub-Servicing Agreement.

 

(g)          
Each Sub-Servicing Agreement shall provide that, in the event the Trustee or any other Person becomes a successor master
servicer, the Trustee or such successor master servicer shall have the right to terminate such Sub-Servicing Agreement with
or without cause and without a fee. Notwithstanding the foregoing or any other contrary provision in this Agreement, the Trustee
and any successor master servicer shall assume each Initial Sub-Servicing Agreement and (i) the Initial Sub-Servicer’s
rights and obligations under the Initial Sub-Servicing Agreement shall expressly survive a termination of the Master Servicer’s
servicing rights under this Agreement; provided that the Initial Sub-Servicing Agreement has not been terminated in
accordance with its provisions; (ii) any successor master servicer, including, without limitation, the Trustee (if it assumes
the servicing obligations of the Master Servicer) shall be deemed to automatically assume and agree to the then-current Initial
Sub-Servicing Agreement without further action upon becoming the successor master servicer and (iii) this Agreement may
not be modified in any manner which would increase the obligations or limit the rights of the Initial Sub-Servicer hereunder
and/or under the Initial Sub-Servicing Agreement, without the prior written consent of the Initial Sub-Servicer (which
consent shall not be unreasonably withheld).

 

(h)          
With respect to Mortgage Loans subject to a Sub-Servicing Agreement with the Master Servicer, the Special Servicer shall,
upon request (such request to be made reasonably in advance as appropriate to the circumstances surrounding such request) of the
related Sub-Servicer, reasonably cooperate in delivering reports and information, including remittance information, and affording
access to information to the related Sub-Servicer that would be required to be delivered or afforded, as the case may be, to
the Master Servicer pursuant to the terms hereof.

 

(i)           
Notwithstanding any other provision of this Agreement, the Special Servicer shall not enter into any Sub-Servicing Agreement
which provides for the performance by third parties of any or all of its obligations herein, without, with respect to any Mortgage
Loan other than an Excluded Loan, prior to the occurrence and continuance of any Control Termination

 

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Event, the consent of the
Directing Certificateholder, except to the extent necessary for the Special Servicer to comply with applicable regulatory requirements.

 

(j)           
None of the Master Servicer or any Additional Servicer shall enter into a Sub-Servicing Agreement with a Sub-Servicer that
is a Risk Retention Affiliate of the Third Party Purchaser if such Sub-Servicer would be a servicer as contemplated by Item 1108(a)(2).
Notwithstanding the preceding sentence, the Master Servicer, absent actual knowledge to the contrary, may conclusively rely upon
a representation of any Sub-Servicer that such Sub-Servicer is not a Risk Retention Affiliate of the Third Party Purchaser. Notwithstanding
the two preceding sentences, or anything herein to the contrary, it is acknowledged that no Initial Sub-Servicer is a Risk Retention
Affiliate of the Third Party Purchaser as of the Closing Date. If at any time the Master Servicer obtains actual knowledge that
a Sub-Servicer it has entered into a Sub-Servicing Agreement with, is a servicer as contemplated by Item 1108(a)(2) and a
Risk Retention Affiliate of the Third Party Purchaser, the Master Servicer shall terminate such Sub-Servicer in accordance with
the related Sub-Servicing Agreement.

 

Section 3.21       
Interest Reserve Account. (a) On the P&I Advance Date occurring in each February and in any January that
occurs in a year that is not a leap year (in each case, unless the related Distribution Date is the final Distribution Date), the
Certificate Administrator, in respect of the Actual/360 Mortgage Loans, shall deposit into the Interest Reserve Account, an amount
equal to one (1) day’s interest on the Stated Principal Balance of the Actual/360 Mortgage Loans as of the Due Date
occurring in the month preceding the month in which the P&I Advance Date occurs at the related Net Mortgage Rate, to the extent
a full Periodic Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive February and
January pursuant to clause (i), “Withheld Amounts”).

 

(b)          
On each P&I Advance Date occurring in March (or February, if the related Distribution Date is the final Distribution
Date), the Certificate Administrator shall withdraw, from the Interest Reserve Account an amount equal to the Withheld Amounts
from the preceding January (if applicable) and February, if any, and deposit such amount into the Lower-Tier REMIC Distribution
Account.

 

Section 3.22       
Directing Certificateholder and Operating Advisor Contact with Master Servicer and Special Servicer. Within a reasonable
time upon request from the Directing Certificateholder or the Operating Advisor, as applicable, and no more often than on a monthly
basis, each of the Master Servicer and the Special Servicer shall, without charge, make a knowledgeable Servicing Officer via telephone
available to verbally answer questions from (a) the Directing Certificateholder ((i) prior to the occurrence and continuance
of a Consultation Termination Event and (ii) other than with respect to any Excluded Loan) and (b) upon the occurrence
and during the continuance of any Operating Advisor Consultation Event, the Operating Advisor (with respect to the Special Servicer
only), regarding the performance and servicing of the Mortgage Loans and/or REO Properties for which the Master Servicer or the
Special Servicer, as the case may be, is responsible.

 

Section 3.23       
Controlling Class Certificateholders, Directing Certificateholder; Certain Rights and Powers of Directing Certificateholder.
(a) Each Controlling Class Certificateholder is hereby deemed to have agreed by virtue of its purchase of a Certificate to

 

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provide its name and address to the Certificate Administrator and to notify the Master Servicer, the Certificate Administrator,
the Special Servicer and the Operating Advisor of the transfer of any Certificate of a Controlling Class by delivering a notice
to each such Person substantially in the form of Exhibit NN attached hereto, the selection of a Directing Certificateholder
or the resignation or removal thereof. The Directing Certificateholder (other than the Loan-Specific Directing Certificateholder)
is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee and the Operating Advisor when such Certificateholder is appointed Directing Certificateholder
and when it is removed or resigns. To the extent there is only one Controlling Class Certificateholder and it is also the Special
Servicer, it shall be the Directing Certificateholder.

 

On the Closing Date,
the initial Directing Certificateholder (other than the Loan-Specific Directing Certificateholder) shall execute and deliver a
certification to all parties to this Agreement substantially in the form of Exhibit P-1G to this Agreement. Upon the
resignation or removal of the existing Directing Certificateholder (other than any Loan-Specific Directing Certificateholder),
any successor directing certificateholder shall also deliver a certification to all parties to this Agreement substantially in
the form of Exhibit P-1G to this Agreement prior to being recognized as the new Directing Certificateholder.

 

(b)          
Once a Directing Certificateholder has been selected, each of the Master Servicer, the Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor and each other Certificateholder (or Certificate Owner, if applicable)
shall be entitled to rely on such selection unless the Controlling Class Certificateholders entitled to appoint the Directing Certificateholder,
by Certificate Balance, or such Directing Certificateholder shall have notified the Master Servicer, the Special Servicer, the
Trustee, the Certificate Administrator, the Operating Advisor and each other Controlling Class Certificateholder, in writing, of
the resignation of such Directing Certificateholder or the selection of a new Directing Certificateholder. In the event that (i) the
Master Servicer, the Certificate Administrator, the Special Servicer, the Trustee or the Operating Advisor receives written notice
from a majority of the Controlling Class Certificateholders that a Directing Certificateholder is no longer designated and (ii) the
Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or a representative
thereof) becomes the Directing Certificateholder pursuant to the proviso of the definition of “Directing Certificateholder”,
then the Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or its
representative) shall provide its name and address to the Certificate Administrator and notify the Master Servicer, the Certificate
Administrator, the Special Servicer, the Trustee and the Operating Advisor that it is the new Directing Certificateholder; provided
that the Master Servicer, the Certificate Administrator, the Special Servicer, the Trustee and the Operating Advisor shall be entitled
to rely on the written notification provided by the purported Controlling Class Certificateholder that owns the largest aggregate
Certificate Balance of the Controlling Class without independently verifying that such Controlling Class Certificateholder actually
owns the largest aggregate Certificate Balance of the Controlling Class. The foregoing provisions shall not be applicable to the
Directing Certificateholder that is a Loan-Specific Directing Certificateholder.

 

(c)          
Until it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor and the Trustee shall be

 

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entitled to rely on the most recent notification with respect to the identity of
the Controlling Class Certificateholder and the Directing Certificateholder.

 

(d)          
In the event that no Directing Certificateholder has been appointed or identified to the Master Servicer or the Special
Servicer, as applicable, and the Master Servicer or the Special Servicer, as the case may be, has attempted to obtain such information
from the Certificate Administrator and no such entity has been identified to the Master Servicer or the Special Servicer, as applicable,
then until such time as the new Directing Certificateholder is identified to the Master Servicer or the Special Servicer, as applicable,
the Master Servicer or the Special Servicer, as applicable, shall have no duty to consult with, provide notice to, or seek the
approval or consent of any such Directing Certificateholder as the case may be.

 

(e)          
Upon request, the Certificate Administrator shall deliver to the Depositor, Trustee, the Special Servicer, the Operating
Advisor, the Master Servicer and, prior to the occurrence and continuance of a Consultation Termination Event, the Directing Certificateholder,
a list of each Controlling Class Certificateholder as reflected in the Certificate Register, including names and addresses. In
addition to the foregoing, within five (5) Business Days of receiving notice of the selection of a new Directing Certificateholder
or the existence of a new Controlling Class Certificateholder, the Certificate Administrator shall notify the Trustee, the Operating
Advisor, the Master Servicer and the Special Servicer. Notwithstanding the foregoing, KKR Real Estate Credit Opportunity Partners
Aggregator I L.P. shall be the initial Directing Certificateholder (but not a Loan-Specific Directing Certificateholder) and shall
remain so until a successor is appointed pursuant to the terms of this Agreement or until a Consultation Termination Event occurs
and is continuing.

 

Until it receives notice
to the contrary, each of the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator and the
Trustee shall be entitled to rely on the preceding sentence with respect to the identity of the Directing Certificateholder.

 

(f)          
If the Certificate Administrator determines that a Class of Book-Entry Certificates is the Controlling Class, the Certificate
Administrator shall notify the related Certificateholders of such Class (through the Depository) of the Class becoming the Controlling
Class.

 

(g)          
Each Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that: (i) the Directing Certificateholder
may have special relationships and interests that conflict with those of Holders of one or more Classes of Certificates; (ii) the
Directing Certificateholder may act solely in the interests of the Holders of the Controlling Class or in its own interest; (iii) the
Directing Certificateholder does not have any liability or duties to the Holders of any Class of Certificates other than the Controlling
Class (or in the case of a Loan-Specific Directing Certificateholder has no liabilities or duties to the Controlling Class or the
Holders of any Class of Certificates); (iv) the Directing Certificateholder may take actions that favor interests of the Holders
of one or more Classes including the Controlling Class or itself over the interests of the Holders of one or more other Classes
of Certificates; and (v) the Directing Certificateholder shall have no liability whatsoever (other than to a Controlling Class
Certificateholder; provided that a Loan-Specific Directing Certificateholder shall have no such liability) for having so
acted as set forth in clauses (i) through (iv) above, and no Certificateholder

 

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may take any action whatsoever against
the Directing Certificateholder or any director, officer, employee, agent or principal of the Directing Certificateholder for having
so acted.

 

(h)          
All requirements of the Master Servicer and the Special Servicer to provide notices, reports, statements or other information
(including the access to information on a website) to the Directing Certificateholder contained in this Agreement shall also apply
to each Companion Holder with respect to information relating to the related Serviced AB Mortgage Loan or a Serviced Whole Loan,
as applicable; provided, however, that nothing in this subsection (h) shall in any way eliminate the obligation
to deliver any information required to be delivered under the related Intercreditor Agreement.

 

(i)           
Until it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee and the Operating Advisor shall be entitled to rely on the most recent notification with respect to the identity and
contact information of the Controlling Class Certificateholder, the Directing Certificateholder and any Serviced AB Whole Loan
Controlling Holder.

 

(j)           
With respect to a Serviced Whole Loan and any approval and consent rights in this Agreement with respect to such Serviced
Whole Loan, the related Serviced Whole Loan Controlling Holder shall exercise such rights in accordance with the related Intercreditor
Agreement.

 

(k)          
The Certificate Registrar shall determine which Class of Certificates is the then-current Controlling Class within two
(2) Business Days of a request from the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator,
the Trustee, or any Certificateholder and provide such information to the requesting party.

 

(l)           
Promptly upon its determination of a change in the Controlling Class, the Certificate Administrator shall (i) include
on its statement made available pursuant to Section 4.02(a) of this Agreement the identity of the new Controlling Class
and (ii) provide to the Master Servicer, the Special Servicer and the Operating Advisor notice of such event and the identity
and contact information of the new Controlling Class Certificateholder (the cost of obtaining such information from DTC being an
expense of the Trust). The Certificate Administrator shall notify the Operating Advisor, the Master Servicer and the Special Servicer
within ten (10) Business Days of the existence or cessation of (i) any Control Termination Event, (ii) any Consultation
Termination Event or (iii) any Operating Advisor Consultation Event. Upon the Certificate Administrator’s determination that
a Control Termination Event, a Consultation Termination Event or an Operating Advisor Consultation Event has occurred or is terminated,
the Certificate Administrator shall, within ten (10) Business Days, post a “special notice” on the Certificate
Administrator’s Website pursuant to this provision.

 

In the event that a Control
Termination Event has occurred due to a reduction of the Certificate Balance of the Class E-RR Certificates (taking into account
the application of any Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such Class in accordance
with Section 4.05(a)) to less than 25% of the Original Certificate Balance thereof, such special notice shall state “A
Control Termination Event has occurred due to the

 

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reduction of the Certificate Balance of the Class E-RR Certificates to less than
25% of the Original Certificate Balance thereof”.

 

In the event that a Consultation
Termination Event has occurred due to the reduction of each Class of Control Eligible Certificates below 25% of its Original Certificate
Balance, in each case without regard to the application of any Cumulative Appraisal Reduction Amounts, such special notice shall
state: “A Consultation Termination Event has occurred because no Class of Control Eligible Certificates exists where such
Class’s aggregate Certificate Balance is at least equal to 25% of the Original Certificate Balance of that Class, in each
case without regard to the application of any Cumulative Appraisal Reduction Amounts.”

 

In the event that an
Operating Advisor Consultation Event has occurred due to the reduction of the aggregate Certificate Balance of the Horizontal Risk
Retention Certificates to 25% or below of their aggregate Original Certificate Balance, taking into account the application of
any Cumulative Appraisal Reduction Amounts, such special notice shall state: “An Operating Advisor Consultation Event has
occurred because the aggregate Certificate Balance of the Horizontal Risk Retention Certificates to 25% or below of their aggregate
Original Certificate Balance.”

 

With respect to any Mortgage
Loan determined to be an Excluded Loan, none of the Directing Certificateholder or any Controlling Class Certificateholder shall
have any consent or consultation rights with respect to the servicing of such Excluded Loan and a Control Termination Event and
Consultation Termination Event shall be deemed to have occurred with respect to such Excluded Loan.

 

Section 3.24       
Intercreditor Agreements. (a) Each of the Master Servicer and Special Servicer acknowledges and agrees that each
Serviced Whole Loan being serviced under this Agreement and each Mortgage Loan with mezzanine debt is subject to the terms and
provisions of the related Intercreditor Agreement and each agrees to service each such Serviced Whole Loan, and each Mortgage Loan
with mezzanine debt in accordance with the related Intercreditor Agreement and this Agreement, including, without limitation, effecting
distributions and allocating reimbursement of expenses in accordance with the related Intercreditor Agreement and, in the event
of any conflict between the provisions of this Agreement and the related Intercreditor Agreement, the related Intercreditor Agreement
shall govern. Notwithstanding anything contrary in this Agreement, each of the Master Servicer and Special Servicer agrees not
to take any action with respect to a Serviced Whole Loan, or a Mortgage Loan with mezzanine debt or the related Mortgaged Property
without the prior consent of the related Companion Holder or mezzanine lender, as applicable, to the extent that the related Intercreditor
Agreement provides that such Companion Holder or mezzanine lender, as applicable, is required or permitted to consent to such action.
Each of the Master Servicer and Special Servicer acknowledges and agrees that each Companion Holder and each mezzanine lender or
its respective designee has the right to purchase the related Mortgage Loan pursuant to the terms and conditions of this Agreement
and the related Intercreditor Agreement to the extent provided for therein. Each of the Master Servicer and the Special Servicer
further acknowledges and agrees that any Serviced Whole Loan Controlling Holder will have the right to replace the Special Servicer
solely with respect to the related Serviced Whole Loan, to the extent provided for herein and in the related Intercreditor Agreement.

 

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(b)          
Neither the Master Servicer nor the Special Servicer shall have any liability for any cost, claim or damage that arises
from any entitlement in favor of a Companion Holder or a mezzanine lender under the related Intercreditor Agreement or conflict
between the terms of this Agreement and the terms of such Intercreditor Agreement. Notwithstanding any provision of any Intercreditor
Agreement that may otherwise require the Master Servicer or the Special Servicer to abide by any instruction or direction of a
Companion Holder or a mezzanine lender, neither the Master Servicer nor the Special Servicer shall be required to comply with any
instruction or direction the compliance with which requires an Advance that constitutes or would constitute a Nonrecoverable Advance.
In no event shall any expense arising from compliance with an Intercreditor Agreement constitute an expense to be borne by the
Master Servicer or the Special Servicer for its own account without reimbursement. In no event shall the Master Servicer or the
Special Servicer be required to consult with or obtain the consent of any Companion Holder or a mezzanine lender unless such Companion
Holder or mezzanine lender has delivered notice of its identity and contact information to each of the parties to this Agreement
(upon which notice each of the parties to this Agreement shall be conclusively entitled to rely). As of the Closing Date, the contact
information for the Companion Holders and mezzanine lenders is as set forth in the related Intercreditor Agreement. In no event
shall the Master Servicer or the Special Servicer, as the case may be, be required to consult with or obtain the consent of a new
Directing Certificateholder or a new Controlling Class Certificateholder unless the Certificate Administrator has delivered notice
to the Master Servicer or the Special Servicer, as applicable, as required under Section 3.23(e) or the Master Servicer
or the Special Servicer, as applicable, have actual knowledge of the identity and contact information of a new Directing Certificateholder
or a new Controlling Class Certificateholder.

 

(c)          
No direction or disapproval of the Companion Holders or any mezzanine lender shall (a) require or cause the Master
Servicer or the Special Servicer to violate the terms of a Mortgage Loan or Serviced Companion Loan, applicable law or any provision
of this Agreement, including the Master Servicer’s or the Special Servicer’s obligation to act in accordance with the
Servicing Standard and to maintain the REMIC status of each Trust REMIC, (b) result in the imposition of a “prohibited
transaction” or “prohibited contribution” tax under the REMIC Provisions or (c) materially expand the scope
of the Special Servicer’s, Trustee’s, the Certificate Administrator’s or the Master Servicer’s responsibilities
under this Agreement.

 

(d)          
With respect to any Serviced Pari Passu Companion Loan, notwithstanding any rights the Operating Advisor or the Directing
Certificateholder hereunder may have to consult with respect to any action or other matter with respect to the servicing of such
Companion Loan, to the extent the related Intercreditor Agreement provides that such right is exercisable by the related Companion
Holder or is exercisable in conjunction with any related Companion Holder, the Directing Certificateholder shall not be permitted
to exercise such right or, to the extent provided in the related Intercreditor Agreement, shall be required to exercise such right
in conjunction with the related Companion Holder, as applicable (except to the extent that the Directing Certificateholder is the
related Serviced Whole Loan Controlling Holder). Additionally, notwithstanding anything in this Agreement to the contrary, the
Master Servicer or the Special Servicer, as the case may be, shall consult, seek the approval or obtain the consent of the holder
of any Serviced Companion Loan with respect to any matters with respect to the servicing of such Companion Loan to the extent required
under related Intercreditor Agreement and shall not take such actions requiring consent of the related Companion Holder without
such consent. In addition,

 

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notwithstanding anything to the contrary, the Master Servicer or the Special Servicer, as the case may
be, shall deliver reports and notices to the related Companion Holder as required under the Intercreditor Agreement.

 

(e)          
Notwithstanding anything in this Agreement to the contrary, the Special Servicer shall be required (i) to provide copies
of any notice, information and report that it is required to provide to the Controlling Class Certificateholder pursuant to this
Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report
relating to a Serviced Whole Loan, to the related Companion Holder, within the same time frame it is required to provide to the
Controlling Class Certificateholder (for this purpose, without regard to whether such items are actually required to be provided
to the Controlling Class Certificateholder under this Agreement due to the occurrence and continuance of a Control Termination
Event or the occurrence and continuance of a Consultation Termination Event) and (ii) to consult with any related Companion
Holder on a strictly non-binding basis, to the extent having received such notices, information and reports, such related Companion
Holder requests consultation with respect to any such Major Decisions or the implementation of any recommended actions outlined
in an Asset Status Report relating to a Serviced Whole Loan, and consider alternative actions recommended by such related Companion
Holder; provided that after the expiration of a period of ten (10) Business Days from the delivery to such related
Companion Holder by the Special Servicer of written notice of a proposed action, together with copies of the notice, information
and report required to be provided to the Controlling Class Certificateholder, the Special Servicer shall no longer be obligated
to consult with such related Companion Holder, whether or not such related Companion Holder has responded within such ten (10) Business
Day period (unless, the Special Servicer proposes a new course of action that is materially different from the action previously
proposed, in which case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and
delivery of all information relating thereto). Notwithstanding the consultation rights of the related Companion Holder set forth
in the immediately preceding sentence, the Special Servicer may make any Major Decision or take any action set forth in the Asset
Status Report before the expiration of the aforementioned ten (10) Business Day period if the Special Servicer determines
that immediate action with respect thereto is necessary to protect the interests of the Certificateholders and the related Companion
Holder. In no event shall the Special Servicer be obligated at any time to follow or take any alternative actions recommended by
the related Companion Holder.

 

(f)           
Each Serviced Pari Passu Companion Loan Holder shall have the right to attend (in person or telephonically, in the discretion
of the Master Servicer or Special Servicer, as the case may be) annual meetings with the Master Servicer or the Special Servicer
at the offices of the Master Servicer or the Special Servicer, as applicable, upon reasonable notice and at times reasonably acceptable
to the Master Servicer or the Special Servicer, as applicable, in which servicing issues related to the related Whole Loan are
discussed.

 

(g)          
With respect to any Serviced Whole Loan, the Special Servicer shall not modify, waive or amend the terms of the related
Intercreditor Agreement such that the monthly remittance to the holder of the related Companion Loan is required earlier than 2
Business Days after receipt by the Master Servicer of the related Periodic Payment without the consent of the Master Servicer.

 

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(h)          
To the extent not otherwise expressly included herein, any provisions required to be included herein pursuant to any Intercreditor
Agreement for a Whole Loan are deemed incorporated herein by reference, and the parties hereto shall comply with those provisions
as if set forth herein in full.

 

(i)           
With respect to the Serviced AB Whole Loan, notwithstanding any rights the Directing Certificateholder hereunder may have
to consult with respect to any action or other matter with respect to the servicing of such Serviced AB Whole Loan, to the extent
the related Intercreditor Agreement provides that such right is exercisable by the related Subordinate Companion Holder or its
representative or is exercisable in conjunction with the related Subordinate Companion Holder, then the Directing Certificateholder
shall not be permitted to exercise such right. Additionally, notwithstanding anything in this Agreement to the contrary, the Special
Servicer shall consult with, seek the approval of, or obtain the consent of the Subordinate Companion Holder or its representative
with respect to any matters with respect to the servicing of the related Subordinate Companion Loan to the extent required under
the related Intercreditor Agreement and shall not take such actions requiring consent of or consultation with such Subordinate
Companion Holder or its representative without such consent or consultation (or deemed consent or consultation). In addition, notwithstanding
anything to the contrary, the Master Servicer or Special Servicer, as applicable, shall deliver information, reports and notices
to the Subordinate Companion Holder or its representative as and to the extent required under the related Intercreditor Agreement; provided that
if such Subordinate Companion Holder is a Borrower Party with respect to the related Mortgage Loan, then such Subordinate Companion
Holder shall not be entitled to receive any information that would constitute Excluded Information if such AB Whole Loan were an
Excluded Controlling Class Loan. Each of the Master Servicer and the Special Servicer further acknowledges and agrees that any
AB Whole Loan Controlling Holder will have the right to exercise the rights of the Directing Certificateholder under this Agreement
to the extent provided for in, and subject to the terms of, the related Intercreditor Agreement.

 

Section 3.25       
Rating Agency Confirmation. (a) Notwithstanding the terms of any related Mortgage Loan documents or other provisions
of this Agreement, if any action under any Mortgage Loan documents or this Agreement requires Rating Agency Confirmation as a condition
precedent to such action, if the party (the “RAC Requesting Party”) attempting and/or required to obtain such
Rating Agency Confirmation from each Rating Agency has made a request to any Rating Agency for such Rating Agency Confirmation
and, within ten (10) Business Days of the Rating Agency Confirmation request being posted to the 17g-5 Information
Provider’s Website, such Rating Agency has not replied to such request or has responded in a manner that indicates that such
Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency Confirmation, then such RAC Requesting
Party shall be required to confirm (through direct communication and not by posting any confirmation on the 17g-5 Information
Provider’s Website) that the applicable Rating Agency has received the Rating Agency Confirmation request, and, if it has
not, promptly request the related Rating Agency Confirmation again (which may be through direct communication). The circumstances
described in the preceding sentence are referred to in this Agreement as a “RAC No-Response Scenario”. Once the
RAC Requesting Party has sent a request for a Rating Agency Confirmation to the 17g-5 Information Provider, such RAC Requesting
Party may, but shall not be obligated to send such request directly to the Rating Agencies in accordance with the procedures set
forth in Section 13.10(d).

 

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If there is no response
to such Rating Agency Confirmation request within five (5) Business Days of such second request in a RAC No-Response
Scenario or if such Rating Agency has responded in a manner that indicates such Rating Agency is neither reviewing such request
nor waiving the requirement for Rating Agency Confirmation, then (x) with respect to any condition in any Mortgage Loan document
requiring such Rating Agency Confirmation or with respect to any other matter under this Agreement relating to the servicing of
the Mortgage Loans (other than as set forth in clause (y) below), the requirement to obtain a Rating Agency Confirmation shall
be deemed not to apply (as if such requirement did not exist) with respect to such Rating Agency and the Master Servicer or the
Special Servicer, as the case may be, may then take such action if the Master Servicer or the Special Servicer, as the case may
be, confirms its original determination (made prior to making such request) that taking the action with respect to which it requested
the Rating Agency Confirmation would still be consistent with the Servicing Standard, and (y) with respect to a replacement
of the Master Servicer or the Special Servicer, such condition shall be deemed not to apply (as if such requirement did not exist)
if (i) the replacement master servicer or special servicer is listed on S&P’s Select Servicer List as a “U.S. Commercial
Mortgage Master Servicer” or “U.S. Commercial Mortgage Special Servicer,” as applicable, if S&P is the non-responding
Rating Agency, (ii) the replacement master servicer or special servicer is rated at least “CMS3” (in the case of the
master servicer) or “CSS3” (in the case of the special servicer), if Fitch is the non-responding Rating Agency or (iii)
KBRA has not publicly cited servicing concerns with respect to the applicable replacement master servicer or special servicer as
the sole or a material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a ratings downgrade or withdrawal) of securities in any other commercial mortgage-backed securitization transaction
serviced by such replacement master servicer or special servicer prior to the time of determination, if KBRA is the non-responding
Rating Agency.

 

Any Rating Agency Confirmation
request made by the Master Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable, pursuant to this Agreement,
shall be made in writing, which writing shall contain a cover page indicating the nature of the Rating Agency Confirmation request,
and shall contain all back-up material necessary for the Rating Agency to process such request. Such written Rating Agency
Confirmation request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5 Information
Provider shall post such request on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

Promptly following the
Master Servicer’s or the Special Servicer’s determination to take any action discussed in this Section 3.25(a)
following any requirement to obtain a Rating Agency Confirmation being deemed not to apply (as if such requirement did not exist),
the Master Servicer or the Special Servicer, as applicable, shall provide electronic written notice to the 17g-5 Information
Provider of the action taken for the particular item at such time, and the 17g-5 Information Provider shall promptly post such
notice on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

(b)          
Notwithstanding anything to the contrary in this Section 3.25, for purposes of the provisions of any Mortgage Loan
document relating to defeasance (including without limitation the type of collateral acceptable for use as defeasance collateral)
or release or substitution of any collateral, any Rating Agency Confirmation requirement in the Mortgage Loan

 

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documents for which
the Master Servicer or the Special Servicer would have been permitted to waive obtaining or to make a determination with respect
to such Rating Agency Confirmation pursuant to Section 3.25(a) shall be deemed not to apply (as if such requirement did
not exist).

 

(c)          
For all other matters or actions not specifically discussed in Section 3.25(a) above, the applicable RAC Requesting
Party shall deliver Rating Agency Confirmation from each Rating Agency.

 

Section 3.26       
The Operating Advisor. (a) The Operating Advisor shall review (i) the actions of the Special Servicer with
respect to any Specially Serviced Loan (as provided in Section 3.08(a), Section 3.08(b), Section 3.18(a),
Section 3.18(b), Section 3.19(d), Section 3.26 and Section 6.08) and after the occurrence and during
the continuance of an Operating Advisor Consultation Event the actions of the Special Servicer with respect to Major Decisions
relating to any Mortgage Loan, (ii) all reports by the Special Servicer made available to Privileged Persons that are posted
on the Certificate Administrator’s Website and that are relevant to the Operating Advisor’s obligations hereunder and
(iii) each Asset Status Report (after the occurrence and during the continuance of an Operating Advisor Consultation Event)
and (iv) each Final Asset Status Report delivered to the Operating Advisor by the Special Servicer. The Operating Advisor
shall perform its duties hereunder in accordance with the Operating Advisor Standard. Furthermore, the Operating Advisor shall
have no obligation or responsibility at any time to review the actions of the Master Servicer for compliance with the Servicing
Standard, and the Operating Advisor will not be required to consider such Master Servicer actions in connection with any Operating
Advisor Annual Report.

 

(b)          
The Operating Advisor and its Affiliates will be obligated to keep confidential any information appropriately labeled “Privileged
Information” received from the Special Servicer or Directing Certificateholder in connection with the Directing Certificateholder’s
exercise of its rights under this Agreement (including, without limitation, in connection with the review and/or approval of any
Asset Status Report), subject to any law, rule, regulation, order, judgment or decree requiring the disclosure of such Privileged
Information. Subject to the terms and conditions in this Agreement related to Privileged Information, the Operating Advisor agrees
that it shall use information received from the Special Servicer pursuant to the terms of this Agreement solely for purposes of
complying with its duties and obligations hereunder.

 

(c)          
(i) Based on the Operating Advisor’s review of (i) any assessment of compliance report, attestation report,
and other information delivered to the Operating Advisor by the Special Servicer or made available to Privileged Persons that are
posted on the Certificate Administrator’s Website during the prior calendar year, (ii) prior to the occurrence and continuance
of an Operating Advisor Consultation Event, with respect to any Specially Serviced Loan, any related Final Asset Status Report
or approved or deemed approved Major Decision Reporting Package provided to the Operating Advisor by the Special Servicer, and
(iii) after the occurrence and continuance of an Operating Advisor Consultation Event, any Asset Status Report and any Major
Decision Reporting Package provided to the Operating Advisor with respect to any Mortgage Loan, the Operating Advisor shall (but
only if any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan was a Specially Serviced Loan at any
time during the prior calendar year or if an Operating Advisor Consultation Event occurred during the prior calendar year) deliver
to the Certificate Administrator and the 17g-5 Information Provider

 

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within one hundred twenty (120) days of the end of the prior
calendar year, an annual report (the “Operating Advisor Annual Report”), substantially in the form of Exhibit V
(which form may be modified or altered as to either its organization or content by the Operating Advisor, subject to compliance
of such form with the terms and provisions of this Agreement including, without limitation, provisions herein relating to Privileged
Information; provided, however, that in no event shall the information or any other content included in the Operating
Advisor Annual Report contravene any provision of this Agreement), setting forth whether the Operating Advisor believes, in its
sole discretion exercised in good faith, that the Special Servicer is operating in compliance with the Servicing Standard with
respect to its performance of its duties pursuant to this Agreement with respect to Specially Serviced Loans (and, after the occurrence
and continuance of an Operating Advisor Consultation Event, also with respect to Major Decisions on Non-Specially Serviced Loans)
during the prior calendar year on a “trust-level basis” and identifying (1) which, if any, standards with which the
Operating Advisor believes, in its sole discretion exercised in good faith, the Special Servicer has failed to comply and (2) any
material deviations from the Special Servicer’s obligations hereunder with respect to the resolution or liquidation of any
Specially Serviced Loan or REO Property (other than with respect to any REO Property related to any Non-Serviced Mortgage Loan);
provided, further, however, that in the event the Special Servicer is replaced, the Operating Advisor Annual
Report shall only relate to the special servicer that was acting as Special Servicer as of December 31 in the prior calendar year
and is continuing in such capacity through the date of such Operating Advisor Annual Report; provided, further, that
the Operating Advisor shall prepare a separate Operating Advisor Annual Report relating to each Excluded Special Servicer and any
Excluded Special Servicer Loan(s) serviced by such Excluded Special Servicer. In preparing any Operating Advisor Annual Report,
the Operating Advisor shall not be required to report on instances of non-compliance with, or deviation from, the Servicing Standard
or the Special Servicer’s obligations under this Agreement that the Operating Advisor determines, in its sole discretion
exercised in good faith, to be immaterial. Subject to the restrictions in this Agreement, including, without limitation, Section
3.26(c), each such Operating Advisor Annual Report shall (A) identify any material deviations (i) from the Servicing
Standard and (ii) from the Special Servicer’s obligations under this Agreement with respect to the resolution or liquidation
of Specially Serviced Loans or REO Properties that the Special Servicer is responsible for servicing under this Agreement (other
than with respect to any REO Property related to a Non-Serviced Mortgage Loan) and (B) comply with all of the confidentiality
requirements described in this Agreement regarding Privileged Information (subject to any permitted exceptions). Such Operating
Advisor Annual Report shall be delivered to the Certificate Administrator (which shall promptly post such Operating Advisor Annual
Report on the Certificate Administrator’s Website in accordance with Section 3.13(b)) and the 17g-5 Information
Provider (which shall promptly post such Operating Advisor Annual Report on the 17g-5 Information Provider’s Website
in accordance with Section 3.13(c)); provided, however, that the Special Servicer shall be given an opportunity
to review the Operating Advisor Annual Report at least five (5) Business Days prior to its delivery to the Certificate Administrator
and the 17g-5 Information Provider. The Operating Advisor shall have no obligation to adopt any comments to the Operating Advisor
Annual Report that are provided by the Special Servicer. Only as used in this Section 3.26 in connection with the Operating
Advisor Annual Report, the term “trust-level basis” refers to the Special Servicer’s performance of its duties
as they relate to the pool of Specially Serviced Loans (and, after the occurrence and continuance of an Operating Advisor Consultation
Event, also with respect to Major Decisions on Non-Specially Serviced Loans),

 

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taking into account the Special Servicer’s
specific duties under this Agreement as well as the extent to which those duties were performed in accordance with the Servicing
Standard, with reasonable consideration by the Operating Advisor of any assessment of compliance report, attestation report, Major
Decision Reporting Package, Asset Status Report, Final Asset Status Report and any other information delivered to the Operating
Advisor by the Special Servicer (other than any communications between the Directing Certificateholder and the Special Servicer
that would be Privileged Information) pursuant to this Agreement.

 

(ii)          
In the event the Operating Advisor’s ability to perform its obligations in respect of the Operating Advisor Annual
Report is limited or prohibited due to the failure of a party hereto to timely deliver information required to be delivered to
the Operating Advisor or because such information is inaccurate or incomplete, the Operating Advisor shall set forth such limitations
or prohibitions in the related Operating Advisor Annual Report, and the Operating Advisor shall not be subject to any liability
arising from such limitations or prohibitions. The Operating Advisor shall be entitled to conclusively rely on the accuracy and
completeness of any information it is provided without liability for any such reliance hereunder. In the event a lack of access
to Privileged Information limits or prohibits the Operating Advisor from performing its duties under this Agreement, the Operating
Advisor shall set forth any such limitations or prohibitions in the related Operating Advisor Annual Report, and the Operating
Advisor shall not be subject to any liability arising from its lack of access to Privileged Information.

 

(d)          
[RESERVED].

 

(e)          
(i) With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, after the calculation
has been finalized (and, if an Operating Advisor Consultation Event has occurred and is continuing, prior to the utilization by
the Special Servicer) of any of the calculations related to (i) Appraisal Reduction Amounts calculated by the Special Servicer,
(ii) Cumulative Appraisal Reduction Amounts calculated by the Special Servicer, (iii) Collateral Deficiency Amounts calculated
by the Special Servicer or (iv) net present value in accordance with Section 1.02(iv) calculated by the Special Servicer,
the Special Servicer shall forward such calculations, together with any supporting material or additional information necessary
in support thereof (including such additional information reasonably requested by the Operating Advisor to confirm the mathematical
accuracy of such calculations, but not including any Privileged Communications), to the Operating Advisor promptly, but in any
event no later than two (2) Business Days after preparing such calculations, and the Operating Advisor shall promptly,
but no later than three (3) Business Days after receipt of such calculations and any supporting or additional materials, recalculate
and review for accuracy and consistency with this Agreement the mathematical calculations and the corresponding application of
the non-discretionary portion of the applicable formulas required to be utilized in connection with any such calculation.

 

(ii)          
In connection with this Section 3.26(e), in the event the Operating Advisor does not agree with the mathematical
calculations of the Cumulative Appraisal Reduction Amount, Appraisal Reduction Amount or Collateral Deficiency Amount (in each
case, as calculated by the Special Servicer) or net present value or the application of the applicable non-discretionary portions
of the formula required to be utilized for such calculation, the

 

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Operating Advisor and Special Servicer shall consult with each
other in order to resolve any material inaccuracy in the mathematical calculations or the application of the non-discretionary
portions of the related formula in arriving at those mathematical calculations or any disagreement within five (5) Business
Days of delivery of such calculations. The Master Servicer shall cooperate with the Special Servicer and provide any information
reasonably requested by the Special Servicer necessary for the calculation of the Cumulative Appraisal Reduction Amount that is
in the Master Servicer’s possession or reasonably obtainable by the Master Servicer. In the event the Operating Advisor and
the Special Servicer are not able to resolve such inaccuracies or disagreement prior to the end of such five (5) Business
Day period, the Operating Advisor shall promptly notify the Certificate Administrator of such disagreement and the Certificate
Administrator shall examine the calculations and supporting materials provided by the Operating Advisor and the Special Servicer
and determine which calculation is to apply and shall provide such parties prompt written notice of its determination.

 

(f)           
Notwithstanding the foregoing, prior to the occurrence and continuance of an Operating Advisor Consultation Event, the Operating
Advisor’s review shall be limited to an after-the-action review of any assessment of compliance, attestation report, Major
Decision Reporting Package relating to a Specially Serviced Loan, Asset Status Report, Final Asset Status Report and other information
delivered to the Operating Advisor by the Special Servicer or made available to Privileged Persons that are posted on the Certificate
Administrator’s Website during the prior calendar year (together with any additional information and material reviewed by
the Operating Advisor), and, therefore, it shall have no specific involvement with respect to collateral substitutions, assignments,
workouts, modifications, consents, waivers, lockbox management, insurance policies, borrower substitutions, lease changes, additional
borrower debt, defeasances, property management changes, releases from escrow, assumptions and other similar actions that the Special
Servicer may perform under this Agreement and will have no obligations at any time with respect to any Non-Serviced Mortgage Loan.
In addition, with respect to the Operating Advisor’s review of net present value and Cumulative Appraisal Reduction Amount
calculations as required in Section 3.26(e) above, the Operating Advisor’s recalculation shall not take into account
the reasonableness of Special Servicer’s property and borrower performance assumptions or other similar discretionary portions
of the net present value and Cumulative Appraisal Reduction Amount calculation.

 

(g)           The
Operating Advisor and its Affiliates shall keep all information appropriately labeled as “Privileged Information”
confidential and shall not disclose such Privileged Information to any Person (including Certificateholders other than the Directing
Certificateholder), other than (1) to the extent expressly required by this Agreement to the other parties to this Agreement
with a notice indicating that such information is Privileged Information, (2) pursuant to a Privileged Information Exception
or (3) where necessary to support specific findings or conclusions concerning allegations of deviations from the Servicing Standard
(i) in the Operating Advisor Annual Report or (ii) in connection with a recommendation by the Operating Advisor to replace the
Special Servicer. Each party to this Agreement that receives Privileged Information from the Operating Advisor with a notice stating
that such information is Privileged Information shall not disclose such Privileged Information to any Person without the prior
written consent of the Special Servicer and, unless a Control Termination Event has occurred and is continuing, the Directing
Certificateholder (with respect to any Mortgage Loan other than a

 

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Non-Serviced Whole Loan or any Excluded Loan) other than pursuant to a Privileged
Information Exception. In addition and for the avoidance of doubt, while the Operating Advisor may serve in a similar capacity
with respect to Other Securitizations that involve the same parties or borrower involved in this securitization, the knowledge
of the employees performing operating advisor functions for such Other Securitizations shall not be imputed to the employees of
the Operating Advisor involved in this securitization. Notwithstanding the foregoing, the Operating Advisor shall be permitted
to share Privileged Information with its Affiliates and any subcontractors of the Operating Advisor that agree in writing to be
bound by the same confidentiality provisions applicable to the Operating Advisor.

 

(h)          
[RESERVED].

 

(i)           
As compensation for its activities hereunder, the Operating Advisor shall be entitled to receive the Operating Advisor Fee
on each Remittance Date with respect to each Mortgage Loan (excluding each Non-Serviced Mortgage Loan, each Servicing Shift
Mortgage Loan and each Companion Loan) and each REO Loan. As to each Mortgage Loan and each REO Loan, the Operating Advisor Fee
shall accrue from time to time at the Operating Advisor Fee Rate and shall be computed on the basis of the Stated Principal Balance
of such Mortgage Loan or REO Loan, as the case may be, and in the same manner as interest is calculated on the related Mortgage
Loan or REO Loan, as the case may be, and, in connection with any partial month interest payment, for the same period respecting
which any related interest payment due on the related Mortgage Loan or deemed to be due on such REO Loan is computed.

 

The Operating Advisor
shall be entitled to reimbursement of any Operating Advisor Expenses provided for pursuant to Section 6.04(a) and/or Section
6.04(b), such amounts to be reimbursed from amounts on deposit in the Collection Account as provided by Section 3.05(a).
Each successor operating advisor shall be required to acknowledge and agree to the terms of the preceding sentence.

 

In addition, the Operating
Advisor Consulting Fee shall be payable to the Operating Advisor with respect to each Major Decision for which the Operating Advisor
has consultation obligations hereunder. The Operating Advisor Consulting Fee shall be payable from funds on deposit in the Collection
Account as provided in Section 3.05(a)(ii) of this Agreement, but, with respect to the period when the outstanding Certificate
Balances of the Control Eligible Certificates has not been reduced to zero as a result of the allocation of Realized Losses to
such Certificates, only to the extent such Operating Advisor Consulting Fee is actually received from the related Mortgagor. When
the Operating Advisor has consultation obligations with respect to a Major Decision under this Agreement, the Master Servicer or
the Special Servicer, as the case may be, shall use commercially reasonable efforts consistent with the Servicing Standard to collect
the applicable Operating Advisor Consulting Fee from the related Mortgagor in connection with such Major Decision that are consistent
with the efforts in accordance with the Servicing Standard that the Master Servicer or the Special Servicer, as applicable, would
use to collect any borrower-paid fees not specified in the Mortgage Loan documents owed to it, and, only to the extent not prohibited
by the related Mortgage Loan documents. The Master Servicer or Special Servicer, as the case may be, may waive or reduce the amount
of any Operating Advisor Consulting Fee payable by the related Mortgagor if it determines that such full or partial waiver is in
accordance with the Servicing Standard, but in no event shall the Master Servicer or the Special Servicer take

 

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any enforcement
action with respect to the collection of such Operating Advisor Consulting Fee other than requests for collection; provided
that the Master Servicer or the Special Servicer, as applicable, shall consult, on a non-binding basis, with the Operating
Advisor prior to any such waiver or reduction. Notwithstanding the foregoing, the Operating Advisor shall not be entitled to an
Operating Advisor Consulting Fee with respect to any Non-Serviced Whole Loan or Servicing Shift Whole Loan.

 

(j)           
After the occurrence and during the continuance of a Consultation Termination Event, the Operating Advisor may be removed
upon (i) the written direction of Holders of Certificates evidencing not less than 25% of the aggregate Certificate Balance
of all Classes of Principal Balance Certificates (taking into account the application of Cumulative Appraisal Reduction Amounts
to notionally reduce the Certificate Balances of Classes to which such Cumulative Appraisal Reduction Amounts are allocable) requesting
a vote to replace the Operating Advisor with a replacement Operating Advisor selected by such Certificateholders (provided
that the proposed replacement Operating Advisor is an Eligible Operating Advisor), (ii) payment by such requesting Holders
to the Certificate Administrator of all reasonable fees and expenses to be incurred by the Certificate Administrator in connection
with administering such vote and (iii) receipt by the Trustee and the Certificate Administrator of Rating Agency Confirmation
from each Rating Agency (which confirmations will be obtained by the Certificate Administrator at the expense of such Holders and
will not constitute an additional expense of the Trust). The Certificate Administrator shall promptly provide written notice to
all Certificateholders of such request by posting such notice on the Certificate Administrator’s Website in accordance with
Section 3.13(b), and concurrently by mail, and conduct the solicitation of votes of all Certificates in such regard. Upon
the vote or written direction of Holders of Certificates evidencing at least 75% of the Voting Rights (taking into account the
application of Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balances of Classes to which such Cumulative
Appraisal Reduction Amounts are allocable), the Trustee shall immediately terminate all of the rights and obligations of the Operating
Advisor under this Agreement (other than any rights or obligations that accrued prior to the date of such termination (including
accrued and unpaid compensation) and other than indemnification rights (arising out of events occurring prior to such termination))
by prior written notice to the Operating Advisor, and the proposed successor operating advisor will be appointed.

 

(k)          
After the occurrence of an Operating Advisor Termination Event, the Trustee may, and upon the written direction of Holders
of Certificates representing at least 25% of the Voting Rights (taking into account the application of any Cumulative Appraisal
Reduction Amounts to notionally reduce the Certificate Balance of the Classes of Certificates), the Trustee shall promptly terminate
the Operating Advisor for cause and appoint a replacement Operating Advisor that is an Eligible Operating Advisor; provided
that no such termination shall be effective until a successor operating advisor has been appointed and has assumed all of the obligations
of the Operating Advisor under this Agreement. No such termination shall terminate, change, reduce, or otherwise modify the rights
and obligations of the Operating Advisor that accrued prior to such termination, including the right to receive all amounts accrued
and owing to it under this Agreement, and other than indemnification rights (arising out of events occurring prior to such termination).
The Trustee may rely on a certification by the replacement Operating Advisor that it is an Eligible Operating Advisor. Upon any
termination of the Operating Advisor and appointment of a successor to the Operating Advisor, the Trustee will, as soon as possible,
be

 

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required to give written notice of the termination and appointment to the Special Servicer, the Master Servicer, the Certificate
Administrator, the 17g-5 Information Provider (for posting to the 17g-5 Information Provider’s Website), the Depositor,
the Directing Certificateholder (only if no Consultation Termination Event has occurred and is continuing), any Companion Loan
holder and the Certificateholders.

 

(l)           
The Holders of Certificates representing at least 25% of the Voting Rights affected by any Operating Advisor Termination
Event hereunder may waive such Operating Advisor Termination Event within twenty (20) days of the receipt of notice from the
Trustee of the occurrence of such Operating Advisor Termination Event. Upon any such waiver of an Operating Advisor Termination
Event, such Operating Advisor Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose
hereunder. Upon any such waiver of an Operating Advisor Termination Event by certificateholders, the trustee and the certificate
administrator will be entitled to recover all costs and expenses incurred by it in connection with enforcement action taken with
respect to such Operating Advisor Termination Event prior to such waiver from the Trust.

 

(m)          
Prior to the occurrence and continuance of a Control Termination Event, the Directing Certificateholder shall have the right
to consent, such consent not to be unreasonably withheld, conditioned or delayed, to the identity of any replacement Operating
Advisor appointed pursuant to this Section 3.26; provided, further, that such consent will be deemed to have
been granted if no objection is made within ten (10) Business Days following the Directing Certificateholder’s receipt
of the request for consent and, if granted or deemed granted, such consent cannot thereafter be revoked or withdrawn.

 

(n)          
The Operating Advisor may resign from its obligations and duties hereby imposed on it (a) upon thirty (30) days’
prior written notice to the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the
Asset Representations Reviewer and the Directing Certificateholder, and (b) upon the appointment of, and the acceptance of
such appointment by, a successor operating advisor that is an Eligible Operating Advisor and receipt by the Trustee of Rating Agency
Confirmation from each Rating Agency. If no successor operating advisor has been appointed and has accepted such appointment within
thirty (30) days of receipt by the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Asset Representations Reviewer and the Directing Certificateholder of the resigning Operating Advisor’s notice of resignation,
the resigning Operating Advisor may petition a court of competent jurisdiction for the appointment of a successor operating advisor
that is an Eligible Operating Advisor. No such resignation by the Operating Advisor shall become effective until the replacement
Operating Advisor shall have assumed the resigning Operating Advisor’s responsibilities and obligations. The resigning Operating
Advisor shall pay all costs and expenses (including costs and expenses incurred by the Trustee and the Certificate Administrator)
associated with a transfer of its duties pursuant to this Section 3.26.

 

(o)          
[RESERVED].

 

(p)          
In the event the Operating Advisor resigns or is otherwise terminated for any reason it shall remain entitled to any accrued
and unpaid Operating Advisor Fees and Operating Advisor Consulting Fees and reimbursement of accrued and unpaid Operating Advisor

 

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Expenses pursuant to Section 3.26(i) and shall also remain entitled to any rights of indemnification provided hereunder.

 

(q)          
The parties hereto agree, and the Certificateholders by their acceptance of their Certificates shall be deemed to have agreed,
that (i) subject to Section 6.04, the Operating Advisor shall have no liability to any Certificateholder for any actions
taken or for refraining from taking any actions under this Agreement, (ii) the Operating Advisor shall act solely as a contracting
party to the extent set forth in this Agreement, (iii) the Operating Advisor shall have no (A) fiduciary duty, or (B) other
duty except with respect to its specific obligations under this Agreement, and shall have no duty or liability to any particular
Class of Certificates or particular Certificateholders or any third party, and (iv) the Operating Advisor does not constitute
an “investment adviser” within the meaning of the Investment Advisers Act of 1940, as amended.

 

(r)           
Neither the Operating Advisor nor any of its Affiliates shall make any investment in any Class of Certificates; provided,
however, that such prohibition shall not apply to (i) riskless principal transactions effected by a broker-dealer
Affiliate of the Operating Advisor or (ii) investments by an Affiliate of the Operating Advisor if the Operating Advisor and
such Affiliate maintain policies and procedures that (A) segregate personnel involved in the activities of the Operating Advisor
under this Agreement from personnel involved in such Affiliate’s investment activities and (B) prevent such Affiliate
and its personnel from gaining access to information regarding the Trust and the Operating Advisor and its personnel from gaining
access to such Affiliate’s information regarding its investment activities.

 

(s)          
The Operating Advisor shall at all times be an Eligible Operating Advisor and if the Operating Advisor ceases to be an Eligible
Operating Advisor, the Operating Advisor shall immediately resign under Section 3.26(n) of this Agreement and the Trustee
shall appoint a successor operating advisor subject to and in accordance with this Section 3.26. Notwithstanding the foregoing,
if the Trustee is unable to find a successor operating advisor within 30 days of the termination of the Operating Advisor,
the Depositor shall be permitted to find a replacement.

 

(t)           
The Operating Advisor may delegate its duties to agents or subcontractors to the extent such agents or subcontractors satisfy
clauses (c), (d) and (f) of the definition of “Eligible Operating Advisor” and so long as the related agreements
or arrangements with such agents or subcontractors are consistent with the provisions of this Agreement related to the Operating
Advisor’s duties and obligations; provided that no agent or subcontractor may (i) be affiliated with a Sponsor,
the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Trustee, the Directing Certificateholder
or any of their respective Affiliates or (ii) have been paid any fees, compensation or other remuneration by an Underwriter,
the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Trustee, the Directing Certificateholder
or any of their respective Affiliates in connection with due diligence or other services with respect to any Mortgage Loan prior
to the Closing Date. Notwithstanding the foregoing sentence, the Operating Advisor shall remain obligated and primarily liable
for its obligations hereunder in accordance with the provisions of this Agreement without diminution of such obligation or liability
or related obligation or liability by virtue of such delegation or arrangements or by virtue of indemnification from any Person
acting as its agents or subcontractor to the same extent and under the same terms and conditions as if the Operating Advisor alone
were performing its obligations under this Agreement. The Operating Advisor shall be entitled to enter

 

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into an agreement with any
agent or subcontractor providing for indemnification of the Operating Advisor by such agent or subcontractor, and nothing contained
in this Agreement shall be deemed to limit or modify such indemnification.

 

(u)          
With respect to the determination of whether an Operating Advisor Consultation Event has occurred and is continuing, or
has terminated, the Operating Advisor is entitled to rely solely on its receipt from the Certificate Administrator of notice thereof
pursuant to Section 3.23(l), and, with respect to any obligations of the Operating Advisor that are performed only after
the occurrence and continuance of an Operating Advisor Consultation Event, the Operating Advisor shall have no obligation to perform
any such duties until the receipt of such notice or actual knowledge of the occurrence of an Operating Advisor Consultation Event.

 

Section 3.27       
Companion Paying Agent. (a) With respect to each of the Serviced Companion Loans, the Master Servicer shall
be the Companion Paying Agent hereunder. The Companion Paying Agent undertakes to perform such duties and only such duties as are
specifically set forth in this Agreement.

 

(b)          
No provision of this Agreement shall be construed to relieve the Companion Paying Agent from liability for its negligent
failure to act, bad faith or its own willful misfeasance; provided, however, that the duties and obligations of the
Companion Paying Agent shall be determined solely by the express provisions of this Agreement. The Companion Paying Agent shall
not be liable except for the performance of such duties and obligations, no implied covenants or obligations shall be read into
this Agreement against the Companion Paying Agent. In the absence of bad faith on the part of the Companion Paying Agent, the Companion
Paying Agent may conclusively rely, as to the truth and correctness of the statements or conclusions expressed therein, upon any
resolutions, certificates, statements, opinions, reports, documents, orders or other instrument furnished to the Companion Paying
Agent by any Person and which on their face do not contradict the requirements of this Agreement.

 

(c)          
In the case of each of the Serviced Companion Loans, upon the resignation or removal of the Master Servicer pursuant to
Article VII of this Agreement, the Master Servicer, as the Companion Paying Agent, shall be deemed simultaneously to
resign or be removed.

 

(d)          
This Section 3.27 shall survive the termination of this Agreement or the resignation or removal of the Companion
Paying Agent, as regards to rights accrued prior to such resignation or removal.

 

Section 3.28       
Serviced Companion Noteholder Register. The Companion Paying Agent shall maintain a register (the “Serviced
Companion Noteholder Register”) with respect to each Serviced Companion Loan on which it will record the names and address
of, and wire transfer instructions for, the Serviced Companion Noteholders from time to time, to the extent such information is
provided in writing to it by each Serviced Companion Noteholder. The initial Serviced Companion Noteholders, along with their respective
name and address, are listed on Exhibit S hereto. In the event a Serviced Companion Noteholder transfers a Serviced
Companion Loan without notice to the Companion Paying Agent, the Companion Paying Agent shall have no liability for any misdirected
payment in such Serviced Companion Loan and shall have no obligation to recover and redirect such payment.

 

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The Companion Paying
Agent shall promptly provide the name and address of any Serviced Companion Noteholder to any party hereto or any successor Serviced
Companion Noteholder upon written request and any such Person may, without further investigation, conclusively rely upon such information.
The Companion Paying Agent shall have no liability to any Person for the provision of any such name and address.

 

For the avoidance of
doubt, any notices or information required to be delivered pursuant to this Agreement by any party hereto to a Serviced Companion
Noteholder with respect to a Serviced Companion Loan that has been included in an Other Securitization shall be provided to the
Other Servicer under the Other Pooling and Servicing Agreement.

 

Section 3.29       
Certain Matters Relating to the Whole Loans. (a) In the event that any of the applicable Non-Serviced Trustee,
the applicable Non-Serviced Master Servicer or the applicable Non-Serviced Special Servicer shall be replaced in accordance
with the terms of the applicable Non-Serviced PSA, the Master Servicer and the Special Servicer shall acknowledge its successor
as the successor to the applicable Non-Serviced Trustee, the applicable Non-Serviced Master Servicer or the applicable
Non-Serviced Special Servicer, as the case may be.

 

(b)          
If any of the Trustee, the Certificate Administrator or the Master Servicer receives notice from a Rating Agency that the
Master Servicer is no longer an “approved” master servicer by any of the Rating Agencies rating the Certificates, then
the Trustee, the Certificate Administrator or the Master Servicer, as applicable, shall promptly notify each Non-Serviced Master
Servicer of the same.

 

(c)          
In connection with the securitization of each Serviced Pari Passu Companion Loan (in each case, only while it is a Serviced
Companion Loan), upon the request of (and at the expense of) the related Serviced Companion Noteholder (or its designee), each
of the Master Servicer, the Special Servicer and the Trustee, as applicable, shall use reasonable efforts to cooperate with such
Serviced Companion Noteholder in attempting to cause the related Mortgagor to provide information relating to such Whole Loan and
the related notes, and that such holder reasonably determines to be necessary or appropriate, for inclusion in any disclosure document(s)
relating to such Other Securitization.

 

(d)          
In connection with the sale of any Non-Serviced Whole Loan by any Non-Serviced Special Servicer, upon receipt of
any notices or materials required to be furnished by the Non-Serviced Special Servicer to the holder of the related Non-Serviced
Mortgage Loan pursuant to the related Intercreditor Agreement, the Special Servicer shall, prior to the occurrence and continuance
of a Control Termination Event, forward such materials to the Directing Certificateholder for its consent, if such consent is required.
The Special Servicer may (with the consent of the Directing Certificateholder prior to the occurrence and continuance of a Control
Termination Event) waive any timing or delivery requirements related to such sale to the extent set forth in the related Intercreditor
Agreement.

 

(e)          
With respect to any Non-Serviced Mortgage Loan, the Directing Certificateholder, prior to the occurrence and continuance
of a Consultation Termination Event, or the Operating Advisor, following the occurrence and during the continuance of a Consultation
Termination Event, shall be entitled to exercise any consultation rights held by the holder of such

 

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Mortgage Loan in its capacity
as a “Non-Controlling Note Holder” (or similar term identified in the related Intercreditor Agreement) under the
related Intercreditor Agreement.

 

(f)          
With respect to each Mortgage Loan that is part of a Whole Loan, this Agreement is subject to the related Intercreditor
Agreement and incorporates by reference all provisions required to be included herein pursuant to such Intercreditor Agreement.

 

(g)          
With respect to each Serviced Whole Loan, if any Serviced Companion Loan becomes the subject of an “asset review”
(or such analogous term defined in the related Other Pooling and Servicing Agreement) pursuant to the related Other Pooling and
Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the
Other Asset Representations Reviewer or any other party to the Other Pooling and Servicing Agreement in connection with such Asset
Review by providing the Other Asset Representations Reviewer or such other requesting party with any documents reasonably requested
by the Other Asset Representations Reviewer or such other requesting party, but only to the extent such documents are in the possession
of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, but in any event excluding any
documents known to the Master Servicer, the Special Servicer, the Trustee or the Custodian to contain information that is proprietary
to the related originator or Mortgage Loan Seller or any draft documents or privileged or internal communications.

 

(h)          
With respect to any Non-Serviced Mortgage Loan, if the Master Servicer or Special Servicer receives any written communication
from the applicable Non-Serviced Master Servicer or Non-Serviced Special Servicer regarding any “Master Servicer
Decision” pursuant to clause (x) of the definition of such term, then the Master Servicer or Special Servicer, as applicable,
shall forward such communication to the Directing Certificateholder (and to the Master Servicer, if the Special Servicer is forwarding
such communication). The Master Servicer shall reasonably cooperate with the applicable Non-Serviced Master Servicer or the
applicable Non-Serviced Special Servicer, as the case may be, in effecting any related action by the applicable Non-Serviced
Master Servicer or the applicable Non-Serviced Special Servicer, in any such case subject to and consistent with the related
Intercreditor Agreement.

 

(i)           
During the period from and after the date on which a Serviced Pari Passu Companion Loan is deposited into an Other Securitization,
not later than 5:00 p.m. (New York City time) on each related Serviced Whole Loan Remittance Date the Master Servicer shall prepare
(if and to the extent necessary) and deliver or cause to be delivered in electronic format to the related other master servicer
under the related Other Pooling and Servicing Agreement the following reports and data files with respect to such Serviced Pari
Passu Companion Loan: (A) to the extent the Master Servicer has received the CREFC® Special Servicer Loan File
at the time required, the most recent CREFC® Delinquent Loan Status Report, CREFC® Historical Loan
Modification/Forbearance and Corrected Mortgage Loan Report and the CREFC® REO Status Report, (B) the CREFC®
Loan Setup File (only with respect to the first “distribution date” (or analogous term) as defined in the related Other
Pooling and Servicing Agreement), (C) the most recent CREFC® Property File and the CREFC® Comparative
Financial Status Report (in each case incorporating the data required to be included in the CREFC® Special Servicer
Loan File pursuant to Section 3.12(c) by the Special Servicer and the Master Servicer), (D) a CREFC®
Servicer Watch List with information that is current as of such Serviced Whole Loan Remittance Date, (E) a

 

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CREFC®
Financial File, (F) a CREFC® Loan Level Reserve/LOC Report, (G) a CREFC® Advance Recovery
Report, (H) a CREFC® Total Loan Report and (I) the CREFC® Loan Periodic Update File. Additionally,
not later than 5:00 p.m. (New York City time) on each related Serviced Whole Loan Remittance Date, the Master Servicer shall deliver
or cause to be delivered in electronic format to the related other master servicer under the related Other Pooling and Servicing
Agreement any applicable CREFC® Loan Liquidation Reports, CREFC® Loan Modification Reports and CREFC®
REO Liquidation Reports received from the Special Servicer. In no event shall any report described in this subsection be required
to reflect information that has not been collected by or delivered to the Master Servicer, or any payments or collections not received
by the Master Servicer, as of the close of business on the Business Day prior to the Business Day on which the report is due. In
addition, the Master Servicer shall deliver or cause to be delivered in electronic format to the related other master servicer
under the related Other Pooling and Servicing Agreement any and all other reports required to be delivered by the Master Servicer
to the Certificate Administrator hereunder pursuant to the terms hereof to the extent related to such Serviced Pari Passu Companion
Loan.

 

(j)           
On a Servicing Shift Date, (i) the Custodian shall, upon receipt of a Request for Release, transfer the related Mortgage
File (other than the Mortgage Note evidencing the related Servicing Shift Mortgage Loan, the original of which shall be retained
by the Custodian) for the related Servicing Shift Whole Loan to the related Non-Serviced Trustee under the related Non-Serviced
PSA and retain a copy of such Mortgage File and (ii) the Master Servicer shall, upon receipt of notice from the applicable
Mortgage Loan Seller that the applicable Servicing Shift Control Note has been or is being securitized and identifying the related
Servicing Shift Date, transfer (and cooperate with reasonable requests in connection with such transfer of) the Servicing File
for the related Servicing Shift Whole Loan, and any Escrow Payments, reserve funds and originals of items specified in clauses (x)
and (xii) of the definition of “Mortgage File” for the related Servicing Shift Whole Loan, to the related Non-Serviced
Master Servicer identified in the above referenced notice from the Mortgage Loan Seller on the related Servicing Shift Date.

 

(k)          
Promptly upon any change in the identity of the Master Servicer, the successor Master Servicer shall deliver notice of such
change (together with the contact information of such successor Master Servicer) to each Non-Serviced Trustee, Non-Serviced
Certificate Administrator, Non-Serviced Special Servicer, Non-Serviced Master Servicer and Non-Serviced Operating Advisor.

 

(l)           
With respect to any Servicing Shift Mortgage Loan that is also a Serviced Mortgage Loan, the Directing Certificateholder
identified in clause (B) of the definition of “Directing Certificateholder”, prior to the occurrence and continuance
of a Consultation Termination Event, or the Operating Advisor, following the occurrence and during the continuance of a Consultation
Termination Event, shall be entitled to exercise any consultation rights held by the holder of such Mortgage Loan in its capacity
as a “Non-Controlling Note Holder” (or similar term identified in the related Intercreditor Agreement) under the
related Intercreditor Agreement.

 

Section 3.30       
[RESERVED].

 

Section 3.31       
Resignation upon Prohibited Risk Retention Affiliation. 

 

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Upon the occurrence of
(i) a Servicing Officer of the Master Servicer or a Responsible Officer of the Certificate Administrator or the Trustee, as applicable,
obtaining actual knowledge that the Master Servicer, the Certificate Administrator or the Trustee, as applicable, is or has become
Risk Retention Affiliated with or a Risk Retention Affiliate of the Third Party Purchaser (in such case, an “Impermissible
TPP Affiliate”), (ii) the Master Servicer, Certificate Administrator or the Trustee receiving written notice by any other
party to this Agreement, the Third Party Purchaser, any Sponsor or any Underwriter or Initial Purchaser that the Master Servicer,
Certificate Administrator or the Trustee, as applicable, is or has become an Impermissible TPP Affiliate, or (iii) the Operating
Advisor or the Asset Representations Reviewer obtaining actual knowledge that it is or has become a Risk Retention Affiliate of
the Third Party Purchaser or any other party to this Agreement (other than the Operating Advisor and Asset Representations Reviewer)
(such Operating Advisor and Asset Representations Reviewer, together with an Impermissible TPP Affiliate, an “Impermissible
Risk Retention Affiliate”), then, in each case, such Impermissible Risk Retention Affiliate shall promptly notify the
Sponsors and the other parties to this Agreement and resign in accordance with Section 3.26, Section 6.05, Section
7.03, Section 8.07 or Section 12.03, as applicable. The resigning Impermissible Risk Retention Affiliate shall
bear all reasonable out-of-pocket costs and expenses of each other party to this Agreement, the Trust and each Rating Agency in
connection with such resignation as and to the extent required under this Agreement, provided, however, that if the affiliation
causing an Impermissible Risk Retention Affiliate is the result of the Third Party Purchaser acquiring an interest in such Impermissible
Risk Retention Affiliate or an affiliate of such Impermissible Risk Retention Affiliate, then such costs and expenses shall be
an expense of the Trust.

 

The provisions of the
foregoing paragraph will not apply if the Depositor has determined, following a modification, waiver or amendment to, or repeal
of, the Risk Retention Rules, that the foregoing affiliations are not prohibited. The Depositor shall provide written notice of
such determination to the Master Servicer, the Trustee, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer, provided however, the Depositor shall have no obligation to monitor the Risk Retention Rules to determine if a
modification, waiver, amendment or repeal has occurred.

 

Section 3.32       
[RESERVED].

 

Section 3.33       
Delivery of Excluded Information to the Certificate Administrator. Any Excluded Information that the Master Servicer,
the Special Servicer or the Operating Advisor identifies and delivers to the Certificate Administrator for posting to the Certificate
Administrator’s Website shall be delivered to the Certificate Administrator via e-mail (or such other electronic means
as is mutually acceptable to the parties) in one or more separate files labeled “Excluded Information” followed by
the applicable loan name and loan file to cmbsexcludedinformation@wellsfargo.com. For the avoidance of doubt, any information that
is not appropriately labeled and delivered in accordance with this Section 3.33 shall not be separately posted as Excluded
Information on the Certificate Administrator’s Website, and any information appropriately labeled and delivered to the Certificate
Administrator pursuant to this Section 3.33 shall be posted on the Certificate Administrator’s Website under the “Excluded
Information” section, as provided under Section 3.13. When so posted, the Excluded Controlling Class Holders

 

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shall
be prohibited from the access of Excluded Information with respect to any Excluded Loans on the Certificate Administrator’s
Website (unless a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access
shall only be prohibited with respect to the related Excluded Loans). None of the Master Servicer, the Special Servicer or the
Operating Advisor shall have any obligations to separately label and deliver any Excluded Information in accordance with this Section
3.33 until such party has received written notice with respect to the related Excluded Loan in the form of Exhibit P-1E
to this Agreement. Nothing set forth in this Agreement shall prohibit the Directing Certificateholder or any Controlling Class
Certificateholder from receiving, requesting or reviewing any Excluded Information relating to any Excluded Loan with respect to
which the Directing Certificateholder or such Controlling Class Certificateholder is not a Borrower Party and, if such Excluded
Information is not available on the Certificate Administrator’s Website on account of it constituting Excluded Information,
such Directing Certificateholder or Controlling Class Certificateholder that is not a Borrower Party with respect to the related
Excluded Loan shall be permitted to obtain such information in accordance with Section 4.02(f) of this Agreement.

 

[End of Article III]

 

ARTICLE
IV

DISTRIBUTIONS TO CERTIFICATEHOLDERS

 

Section 4.01       
Distributions. (a) Distributions of Available Funds. On each Distribution Date, to the extent of the
Available Funds for such Distribution Date, the Certificate Administrator shall be deemed to transfer the Lower-Tier Distribution
Amount from the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account in the amounts and priorities
set forth in Section 4.01(c) with respect to each Class of Lower-Tier Regular Interests, and immediately thereafter,
shall make distributions thereof from the Upper-Tier REMIC Distribution Account in the following order of priority, satisfying
in full, to the extent required and possible, each priority before making any distribution with respect to any succeeding priority:

 

(i)          
first, to the Holders of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class X-A, Class X-B and
Class X-D Certificates, pro rata (based upon their respective entitlements to interest for such Distribution Date), in respect
of interest, up to an amount equal to the aggregate Interest Distribution Amount in respect of such Classes of Certificates;

 

(ii)          
second, to the Holders of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates
in reduction of the Certificate Balances thereof: (I) prior to the Cross-Over Date: (1) first, to the Holders of
the Class A-SB Certificates, up to an amount equal to the Principal Distribution Amount, until the outstanding Certificate
Balance of the Class A-SB Certificates has been reduced to the Class A-SB Planned Principal Balance for such Distribution
Date; (2) second, to the Holders of the Class A-1 Certificates, up to an amount equal to the Principal Distribution Amount
(or the portion thereof remaining after any distributions specified in sub-clause (1) above have been made on such Distribution
Date), until the outstanding Certificate Balance of the Class A-1 Certificates has been reduced to zero; (3) third, to
the Holders of the Class A-2 Certificates

 

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up to an amount equal to the Principal Distribution Amount (or the portion thereof
remaining after any distributions specified in sub-clauses (1) and (2) above have been made on such Distribution Date),
until the outstanding Certificate Balance of the Class A-2 Certificates has been reduced to zero; (4) fourth, to the Holders
of the Class A-3 Certificates up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining
after any distributions specified in sub-clauses (1), (2) and (3) above have been made on such Distribution Date), until
the outstanding Certificate Balance of the Class A-3 Certificates has been reduced to zero; (5) fifth, to the Holders
of the Class A-4 Certificates, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining
after any distributions specified in sub-clauses (1), (2), (3) and (4) above have been made on such Distribution Date),
until the outstanding Certificate Balance of the Class A-4 Certificates has been reduced to zero; and (6) sixth, to the Holders
of the Class A-SB Certificates, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining
after any distributions specified in sub-clauses (1), (2), (3), (4) and (5) above have been made on such Distribution
Date), until the outstanding Certificate Balance of the Class A-SB Certificates has been reduced to zero; and (II) on
or after the Cross-Over Date, to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates, pro
rata (based on their respective Certificate Balances) up to an amount equal to the Principal Distribution Amount for such Distribution
Date, until the Certificate Balance of each of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates
is reduced to zero, without regard to the Class A-SB Planned Principal Balance;

 

(iii)          
third, to the Holders of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates,
first up to an amount equal to, and pro rata (based upon the aggregate unreimbursed Realized Losses previously allocated
to each such Class) with, the aggregate unreimbursed Realized Losses previously allocated to each such Class, then up to an amount
equal to all accrued and unpaid interest on that amount at the Pass-Through Rate for such Class compounded monthly from the
date the related Realized Loss was allocated to such Class until the date such Realized Loss is reimbursed;

 

(iv)          
fourth, to the Holders of the Class A-S Certificates, in respect of interest, up to an amount equal to the Interest
Distribution Amount in respect of such Class of Certificates;

 

(v)          
fifth, after the Certificate Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB
Certificates have been reduced to zero, to the Holders of the Class A-S Certificates, in reduction of the Certificate Balance
thereof, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in
respect of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates on such Distribution Date), until
the outstanding Certificate Balance of the Class A-S Certificates has been reduced to zero;

 

(vi)          
sixth, to the Holders of the Class A-S Certificates, first up to an amount equal to the unreimbursed Realized
Losses previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount at the
Pass-Through Rate

 

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for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until
the date such Realized Loss is reimbursed;

 

(vii)         seventh, to the Holders of the Class B Certificates, in respect of interest, up to an amount equal to the Interest
Distribution Amount in respect of such Class of Certificates;

 

(viii)        eighth, after the Certificate Balances of the Class A Certificates have been reduced to zero, to the Holders of the
Class B Certificates, in reduction of the Certificate Balance thereof, up to an amount equal to the Principal Distribution Amount
(or the portion thereof remaining after any distributions in respect of the Class A Certificates on such Distribution Date), until
the outstanding Certificate Balance of the Class B Certificates has been reduced to zero;

 

(ix)          
ninth, to the Holders of the Class B Certificates, first up to an amount equal to the unreimbursed Realized Losses
previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount at the Pass-Through
Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until the date such
Realized Loss is reimbursed;

 

(x)          
tenth, to the Holders of the Class C Certificates, in respect of interest, up to an amount equal to the Interest
Distribution Amount in respect of such Class of Certificates;

 

(xi)          eleventh,
after the Certificate Balances of the Class A and Class B Certificates have been reduced to zero, to the Holders of the Class
C Certificates, in reduction of the Certificate Balance thereof, up to an amount equal to the Principal Distribution Amount (or
the portion thereof remaining after any distributions in respect of the Class A and Class B Certificates on such Distribution
Date), until the outstanding Certificate Balance of the Class C Certificates has been reduced to zero;

 

(xii)          twelfth, to the Holders of the Class C Certificates, first up to an amount equal to the unreimbursed Realized Losses
previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount at the Pass-Through
Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until the date such
Realized Loss is reimbursed;

 

(xiii)         thirteenth, to the Holders of the Class D Certificates, in respect of interest, up to an amount equal to the Interest
Distribution Amount in respect of such Class of Certificates;

 

(xiv)        
fourteenth, after the Certificate Balances of the Class A, Class B and Class C Certificates have been reduced to
zero, to the Holders of the Class D Certificates, in reduction of the Certificate Balance thereof, up to an amount equal to the
Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A, Class B and
Class C Certificates on such Distribution Date), until the outstanding Certificate Balance of the Class D Certificates has been
reduced to zero;

 

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(xv)          
fifteenth, to the Holders of the Class D Certificates, first up to an amount equal to the unreimbursed Realized Losses
previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount at the Pass-Through
Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until the date such
Realized Loss is reimbursed;

 

(xvi)         sixteenth,
to the Holders of the Class E-RR Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount
in respect of such Class of Certificates;

 

(xvii)       seventeenth, after the Certificate Balances of the Class A, Class B, Class C and Class D Certificates have been reduced
to zero, to the Holders of the Class E-RR Certificates, in reduction of the Certificate Balance thereof, up to an amount equal
to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A, Class
B, Class C and Class D Certificates on such Distribution Date), until the outstanding Certificate Balance of the Class E-RR Certificates
has been reduced to zero;

 

(xviii)      eighteenth, to the Holders of the Class E-RR Certificates, first up to an amount equal to the unreimbursed Realized
Losses previously allocated to such Class, up to an amount equal to all accrued and unpaid then interest on that amount at the
Pass-Through Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until
the date such Realized Loss is reimbursed;

 

(xix)         nineteenth, to the Holders of the Class F-RR Certificates, in respect of interest, up to an amount equal to the Interest
Distribution Amount in respect of such Class of Certificates;

 

(xx)          twentieth, after the Certificate Balances of the Class A, Class B, Class C, Class D and Class E-RR Certificates have
been reduced to zero, to the Holders of the Class F-RR Certificates, in reduction of the Certificate Balance thereof, up to an
amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class
A, Class B, Class C, Class D and Class E-RR Certificates on such Distribution Date), until the outstanding Certificate Balance
of the Class F-RR Certificates has been reduced to zero;

 

(xxi)         twenty-first, to the Holders of the Class F-RR Certificates, first up to an amount equal to the unreimbursed
Realized Losses previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount
at the Pass-Through Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class
until the date such Realized Loss is reimbursed;

 

(xxii)        twenty-second, to the Holders of the Class G-RR Certificates, in respect of interest, up to an amount equal to
the Interest Distribution Amount in respect of such Class of Certificates;

 

(xxiii)       twenty-third, after the Certificate Balances of the Class A, Class B, Class C, Class D, Class E-RR and Class
F-RR Certificates have been reduced to zero, to the Holders

 

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of the Class G-RR Certificates, in reduction of the Certificate Balance
thereof, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in
respect of the Class A, Class B, Class C, Class D, Class E-RR and Class F-RR Certificates on such Distribution Date), until the
outstanding Certificate Balance of the Class G-RR Certificates has been reduced to zero;

 

(xxiv)       twenty-fourth, to the Holders of the Class G-RR Certificates, first up to an amount equal to the unreimbursed
Realized Losses previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount
at the Pass-Through Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class
until the date such Realized Loss is reimbursed;

 

(xxv)        twenty-fifth, to the Holders of the Class H-RR Certificates, in respect of interest, up to an amount equal to
the Interest Distribution Amount in respect of such Class of Certificates;

 

(xxvi)       twenty-sixth, after the Certificate Balances of the Class A, Class B, Class C, Class D, Class E-RR, Class F-RR
and Class G-RR Certificates have been reduced to zero, to the Holders of the Class H-RR Certificates, in reduction of the Certificate
Balance thereof, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions
in respect of the Class A, Class B, Class C, Class D, Class E-RR, Class F-RR and Class G-RR Certificates on such Distribution Date),
until the outstanding Certificate Balance of the Class H-RR Certificates has been reduced to zero;

 

(xxvii)      twenty-seventh, to the Holders of the Class H-RR Certificates, first up to an amount equal to the unreimbursed
Realized Losses previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount
at the Pass-Through Rate for such Class compounded monthly from the date the related Realized Loss was allocated to such Class
until the date such Realized Loss is reimbursed;

 

(xxviii)     twenty-eighth, to the Holders of the Class J-RR Certificates, in respect of interest, up to an amount equal to
the Interest Distribution Amount in respect of such Class of Certificates;

 

(xxix)       twenty-ninth, after the Certificate Balances of the Class A, Class B, Class C, Class D, Class E-RR, Class F-RR,
Class G-RR and Class H-RR Certificates have been reduced to zero, to the Holders of the Class J-RR Certificates, in reduction of
the Certificate Balance thereof, up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after
any distributions in respect of the Class A, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G-RR and Class H-RR Certificates
on such Distribution Date), until the outstanding Certificate Balance of the Class J-RR Certificates has been reduced to zero;

 

(xxx)        thirtieth, to the Holders of the Class J-RR Certificates, first up to an amount equal to the unreimbursed Realized
Losses previously allocated to such Class, then up to an amount equal to all accrued and unpaid interest on that amount at the
Pass-Through Rate

 

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for such Class compounded monthly from the date the related Realized Loss was allocated to such Class until
the date such Realized Loss is reimbursed; and

 

(xxxi)       thirty-first, to the Holders of the Class R Certificates in respect of the Class UR Interest, the amount, if any,
of the Available Funds remaining in the Upper-Tier REMIC Distribution Account with respect to such Distribution Date.

 

If, in connection with
any Distribution Date, the Certificate Administrator has reported the amount of an anticipated distribution to DTC based on the
receipt of payments as of the Determination Date and additional Periodic Payments, balloon payments or unscheduled principal payments
are subsequently received by the Master Servicer and required to be part of the Available Funds for such Distribution Date, the
Master Servicer shall promptly notify the Certificate Administrator and the Certificate Administrator will use commercially reasonable
efforts to cause DTC to make the revised distribution on a timely basis on such Distribution Date. None of the Master Servicer,
the Special Servicer or the Certificate Administrator shall be liable or held responsible for any resulting delay in the making
of such distribution to Certificateholders solely on the basis of the actions described in the preceding sentence.

 

(b)          
[RESERVED].

 

(c)          
On each Distribution Date, each Lower-Tier Regular Interest shall be deemed to receive distributions in respect of principal
or reimbursement of Realized Losses in an amount equal to the amount of principal or reimbursement of Realized Losses actually
distributable to the Holders of the respective Related Certificates as provided in Section 4.01(a), Section 4.01(d), Section
4.01(f) and Section 4.01(i) such that at all times the Lower-Tier Principal Amount of each Class of Lower-Tier
Regular Interests is equal to the Certificate Balance of the Class of Related Certificates. On each Distribution Date, each Lower-Tier
Regular Interest shall be deemed to receive distributions in respect of interest in an amount equal to the Interest Distribution
Amount in respect of its Related Certificates plus a pro rata portion of the Interest Distribution Amount in respect
of (i) in the case of the Class LA1, Class LA2, Class LA3, Class LA4 and Class LASB Uncertificated Interests, the Class X-A
Certificates, (ii) in the case of the Class LAS, Class LB and Class LC Uncertificated Interests, the Class X-B Certificates
and (iii) in the case of the Class LD Uncertificated Interest, the Class X-D Certificates, in each case, computed based on
an interest rate equal to the excess of the Weighted Average Net Mortgage Rate over the Pass-Through Rate of the Related Certificates
and a notional amount equal to its related Lower-Tier Principal Amount, in each case to the extent actually distributable thereon
as provided in Section 4.01(a). Amounts distributable pursuant to this paragraph are referred to herein collectively as
the “Lower-Tier Distribution Amount”, and shall be made by the Certificate Administrator by deeming such
Lower-Tier Distribution Amount to be withdrawn from the Lower-Tier REMIC Distribution Account to be deposited in the Upper-Tier
REMIC Distribution Account.

 

As of any date, the principal
balance of each Lower-Tier Regular Interest shall equal the Certificate Balance of the Related Certificates with respect thereto,
as adjusted for the allocation of Realized Losses, as provided in Sections 4.04(b) and 4.04(c). The initial
principal balance of each Lower-Tier Regular Interest shall equal the respective Original Lower-Tier

 

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Principal Amount.
The pass-through rate with respect to each Lower-Tier Regular Interest shall be the rate per annum set forth in
the Preliminary Statement hereto.

 

Any amount that remains
in the Lower-Tier REMIC Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution
Amount and distribution of Prepayment Premiums and Yield Maintenance Charges pursuant to Section 4.01(e) shall be distributed
to the Holders of the Class R Certificates in respect of the Class LR Interest (but only to the extent of the Available Funds for
such Distribution Date remaining in the Lower-Tier REMIC Distribution Account, if any).

 

(d)          
So long as the Certificate Balance of any Class of Certificates has been reduced to zero, such Class shall not be entitled
to any further distributions in respect of interest or principal other than reimbursement of Realized Losses (with interest as
provided herein) and other amounts provided for in this Section 4.01.

 

(e)          
Funds on deposit in the Distribution Account on each Distribution Date that represent Prepayment Premiums or Yield Maintenance
Charges received by the Trust with respect to any Mortgage Loan or REO Loan during the related Collection Period, in each case
net of any Liquidation Fees or Workout Fees payable therefrom, shall be distributable as follows: if any Yield Maintenance Charge
or Prepayment Premium is collected during any particular Collection Period with respect to any Mortgage Loan, then on the Distribution
Date corresponding to that Collection Period, the Certificate Administrator shall pay that Yield Maintenance Charge or Prepayment
Premium (net of any Liquidation Fee or Workout Fee payable therefrom) in the following manner: (i) to each of the Class A-1,
Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates, the product
of (A)  such Yield Maintenance Charge or Prepayment Premium, (B) the related Base Interest Fraction for such Class of
Certificates, and (C) a fraction, the numerator of which is equal to the amount of principal distributed to such Class of
Certificates for that Distribution Date, and the denominator of which is the total amount of principal distributed to all Principal
Balance Certificates for that Distribution Date, (ii) to the Class X-A Certificates, the excess, if any, of (A) the
product of (I)  such Yield Maintenance Charge or Prepayment Premium and (II) a fraction, the numerator of which is equal
to the amount of principal distributed to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates
for that Distribution Date, and the denominator of which is the total amount of principal distributed to all Principal Balance
Certificates for that Distribution Date, over (B) the amount of such Yield Maintenance Charge or Prepayment Premium distributed
to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates as described above, and (iii) to
the Class X-B Certificates, any remaining portion of such Yield Maintenance Charge or Prepayment Premium not distributed as
described above.

 

For purposes of the first
paragraph of this Section 4.01(e), the relevant “Base Interest Fraction” in connection with any Principal
Prepayment of any Mortgage Loan that provides for the payment of a Yield Maintenance Charge or Prepayment Premium, and with respect
to any Class of Principal Balance Certificates, shall be a fraction (A) the numerator of which is the greater of (x) zero
and (y) the difference between (i) the Pass-Through Rate on such Class for the related Distribution Date, and (ii) the
applicable Discount Rate and (B) the denominator of which is the difference between (i) the Mortgage Rate on such Mortgage
Loan and (ii) the applicable Discount Rate; provided that: (a) under no circumstances will the Base Interest

 

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Fraction
be greater than 1.0; (b) if the applicable Discount Rate is greater than or equal to the Mortgage Rate on such Mortgage Loan
and is greater than or equal to the Pass-Through Rate on such Class for the related Distribution Date, then the Base Interest
Fraction will equal zero; and (c) if the applicable Discount Rate is greater than or equal to the Mortgage Rate on such Mortgage
Loan and is less than the Pass-Through Rate on such Class for the related Distribution Date, then the Base Interest Fraction
shall be equal to 1.0. If a Mortgage Loan provides for a step-up in the Mortgage Rate, then the Mortgage Rate used in the determination
of the Base Interest Fraction will be the Mortgage Rate in effect at the time of the prepayment.

 

For purposes of the preceding
paragraph, the relevant “Discount Rate” in connection with any Prepayment Premium or Yield Maintenance Charge collected
on any prepaid Mortgage Loan or REO Loan and distributable on any Distribution Date shall be a rate per annum equal to (i) if
a discount rate was used in the calculation of the applicable Prepayment Premium or Yield Maintenance Charge pursuant to the terms
of the relevant Mortgage Loan or REO Loan, as the case may be, such discount rate (as reported by the Master Servicer), converted
(if necessary) to a monthly equivalent yield, or (ii) if a discount rate was not used in the calculation of the applicable
Prepayment Premium or Yield Maintenance Charge pursuant to the terms of the relevant Mortgage Loan or REO Loan, as the case may
be, the yield calculated by the linear interpolation of the yields (as reported under the heading “U.S. Government Securities/Treasury
Constant Maturities” in Federal Reserve Statistical Release H.15 (519) published by the Federal Reserve Board for the week
most recently ended before the date of the relevant prepayment (or deemed prepayment) of U.S. Treasury constant maturities with
a maturity date, one longer and one shorter, most nearly approximating the related Stated Maturity Date, such interpolated yield
converted to a monthly equivalent yield. If Federal Reserve Statistical Release H.15 (519) is no longer published, the Certificate
Administrator shall select a comparable publication as the source of the applicable yields of U.S. Treasury constant maturities.

 

(i)          
No Yield Maintenance Charges or Prepayment Premium shall be distributed to the Holders of the Class X-D, Class E-RR, Class
F-RR, Class G-RR, Class H-RR, Class J-RR or Class R Certificates.

 

(ii)          
All distributions of Yield Maintenance Charges and Prepayment Premiums made pursuant to this Section 4.01(e) shall
first be deemed to be distributed from the Lower-Tier REMIC to the Upper-Tier REMIC in respect of the Lower-Tier Regular
Interests, pro rata, based upon the amount of principal distributed in respect of each such Class of Lower-Tier Regular
Interests for such Distribution Date pursuant to Section 4.01(c) above.

 

(f)           
On each Distribution Date, the Certificate Administrator shall withdraw amounts from the Gain-on-Sale Reserve Account and
shall distribute such amounts to reimburse the Holders of the Principal Balance Certificates (in order of their principal distribution
priority) (first deeming such amounts to be distributed with respect to the Related Lower Tier Regular Interests) up to an amount
equal to all Realized Losses, if any, previously deemed allocated to them and unreimbursed after application of the Available Funds
for such Distribution Date. Amounts paid from the Gain-on-Sale Reserve Account shall not reduce the Certificate Balances of the
Classes of Certificates receiving such distributions. Any amounts remaining in the Gain-on-Sale Reserve Account after such distributions
shall be applied to offset future Realized Losses

 

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with respect to the Principal Balance Certificates and related shortfalls allocable
to the Regular Certificates. Upon termination of the Trust, any amounts remaining in the Gain-on-Sale Reserve Account shall
be distributed to the Holders of the Class R Certificates from the Lower-Tier REMIC in respect of the Class LR Interest.

 

(g)          
All distributions made with respect to each Class of Certificates on each Distribution Date shall be allocated pro rata
among the outstanding Certificates in such Class based on their respective Percentage Interests. Except as otherwise specifically
provided in Sections 4.01(h), Section 4.01(i) and 9.01, all such distributions with respect to each Class
on each Distribution Date shall be made to the Certificateholders of the respective Class of record at the close of business on
the related Record Date and shall be made by wire transfer of immediately available funds to the account of any such Certificateholder
at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Certificate
Administrator with wiring instructions no less than five (5) Business Days prior to the related Record Date (which wiring
instructions may be in the form of a standing order applicable to all subsequent Distribution Dates), or otherwise by check mailed
to such Certificateholder at its address in the Certificate Register. The final distribution on each Certificate (determined without
regard to any possible future reimbursement of Realized Losses previously allocated to such Certificate) shall be made in like
manner, but only upon presentation and surrender of such Certificate at the offices of the Certificate Registrar or such other
location specified in the notice to Certificateholders of such final distribution.

 

Each distribution with
respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall be responsible
for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures.
Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents
and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”)
for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents.
None of the Trustee, the Certificate Administrator, the Certificate Registrar, the Depositor, the Master Servicer, the Special
Servicer or the Underwriters shall have any responsibility therefor except as otherwise provided by this Agreement or applicable
law.

 

(h)          
Except as otherwise provided in Section 9.01, whenever the Certificate Administrator expects that the final distribution
with respect to any Class of Certificates (determined without regard to any possible future reimbursement of any amount of Realized
Losses previously allocated to such Class of Certificates) will be made on the next Distribution Date, the Certificate Administrator
shall, no later than the related P&I Advance Determination Date, post on the Certificate Administrator’s Website pursuant
to Section 3.13(b) a notice in electronic format to the effect that:

 

(i)           
the Certificate Administrator expects that the final distribution with respect to such Class of Certificates will be made
on such Distribution Date but only upon presentation and surrender of such Certificates at the offices of the Certificate Registrar
or such other location therein specified; and

 

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(ii)          
no interest shall accrue on such Certificates from and after such Distribution Date.

 

Any funds not distributed
to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts
of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to this
Section 4.01(h) shall not have been surrendered for cancellation within six (6) months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders
to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one
year after the second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator,
directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the
surrender of their Certificates as it shall deem appropriate, subject to applicable law with respect to escheatment of funds. The
costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary of
the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust hereunder by the Certificate Administrator as a result
of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with this Section 4.01(h).

 

(i)           
Distributions in reimbursement of Realized Losses previously allocated to the Regular Certificates shall be made in the
amounts and manner specified in Section 4.01(a) or Section 4.01(d), as applicable, to the Holders of the respective
Class otherwise entitled to distributions of interest and principal on such Class on the relevant Distribution Date; provided
that all distributions in reimbursement of Realized Losses previously allocated to a Class of Certificates which has since been
retired shall be to the prior Holders that surrendered the Certificates of such Class upon retirement thereof and shall be made
by check mailed to the address of each such prior Holder last shown in the Certificate Register. Notice of any such distribution
to a prior Holder shall be made in accordance with Section 13.05 at such last address. The amount of the distribution to
each such prior Holder shall be based upon the aggregate Percentage Interest evidenced by the Certificates surrendered thereby.
If the check mailed to any such prior Holder is returned uncashed, then the amount thereof shall be set aside and held uninvested
in trust for the benefit of such prior Holder, and the Certificate Administrator shall attempt to contact such prior Holder in
the manner contemplated by Section 4.01(h) as if such Holder had failed to surrender its Certificates.

 

(j)           
[RESERVED.]

 

(k)          
On each Serviced Whole Loan Remittance Date, with respect to any Serviced Companion Loan, the Companion Paying Agent shall
make withdrawals and payments from the Companion Distribution Account for each Companion Loan in the following order of priority:

 

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(i)           
to pay to the Master Servicer for deposit into the Collection Account, as applicable, any amounts deposited by the Master
Servicer in the Companion Distribution Account not required to be deposited therein;

 

(ii)          
to the extent permitted under the related Intercreditor Agreement and not otherwise previously reimbursed, to pay the Trustee
or the Certificate Administrator or any of their directors, officers, employees and agents, as the case may be, any amounts payable
or reimbursable to any such Person pursuant to Section 8.05, to the extent that any such amounts relate solely to a Serviced
Whole Loan related to such Companion Loan, and such amounts are to be paid by the related Companion Holder pursuant to the related
Intercreditor Agreement;

 

(iii)         
to pay all amounts remaining in the Companion Distribution Account related to such Serviced Companion Loan to the related
Companion Holder, in accordance with the related Intercreditor Agreement; and

 

(iv)         
to clear and terminate the Companion Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

All distributions from
the Companion Distribution Account required hereunder shall be made by the Companion Paying Agent to the related Companion Holder
by wire transfer in immediately available funds on each Serviced Whole Loan Remittance Date (and on each additional date required
by this Agreement or the related Intercreditor Agreement) to the account of such Companion Holder or an agent therefor appearing
on the Serviced Companion Noteholder Register on the related Record Date (or, if no such account so appears or information relating
thereto is not provided at least five Business Days prior to the related Record Date, by check sent by first class mail to the
address of such Companion Holder or its agent appearing on the Serviced Companion Noteholder Register). Any such account shall
be located at a commercial bank in the United States.

 

On the final Remittance
Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Certificate Administrator who shall distribute
to the Mortgage Loan Sellers, any Loss of Value Payments relating to the Mortgage Loans that it is servicing and that were transferred
from the Loss of Value Reserve Fund to the Collection Account on the immediately preceding Remittance Date.

 

Section 4.02       
Distribution Date Statements; CREFC® Investor Reporting Packages; Grant of Power of Attorney. (a) On
each Distribution Date, the Certificate Administrator shall make available pursuant to Section 3.13(b) on the Certificate
Administrator’s Website to any Privileged Person a statement (substantially in the form set forth as Exhibit G
hereto and based in part upon information supplied to the Certificate Administrator in the related CREFC® Investor
Reporting Package in accordance with CREFC® guidelines) as to the distributions made on such Distribution Date (each,
a “Distribution Date Statement”) which shall include:

 

(i)           
the amount of the distribution on such Distribution Date to the Holders of each Class of Certificates in reduction of the
Certificate Balance thereof;

 

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(ii)          
the aggregate amount of Advances made, with respect to the pool of Mortgage Loans, during the period from but not including
the previous Distribution Date to and including such Distribution Date and details of P&I Advances as of the P&I Advance
Date;

 

(iii)          the
aggregate amount of compensation paid to the Trustee and the Certificate Administrator, servicing compensation paid to the Master
Servicer and the Special Servicer, compensation paid to the Operating Advisor, compensation paid to the Asset Representations
Reviewer and CREFC® Intellectual Property Royalty License Fees paid to CREFC®, in each case, with
respect to the Collection Period for such Determination Date together with detailed calculations of servicing compensation paid
to the Master Servicer and the Special Servicer;

 

(iv)         
the aggregate Stated Principal Balance of the Mortgage Loans and any REO Loans, with respect to the pool of Mortgage Loans,
outstanding immediately before and immediately after such Distribution Date;

 

(v)          
the aggregate amount of unscheduled payments received;

 

(vi)          the number of loans, their aggregate principal balance, weighted average remaining term to maturity and weighted average
Mortgage Rate of the Mortgage Loans, with respect to the pool of Mortgage Loans, as of the end of the related Collection Period
for such Distribution Date;

 

(vii)         the number and aggregate principal balance of the Mortgage Loans (A) delinquent 30-59 days, (B) delinquent
60-89 days, (C) delinquent 90 days to 120 days, (D) current but specially serviced or in foreclosure but
not an REO Property and (E) for which the related Mortgagor is subject to oversight by a bankruptcy court;

 

(viii)        the value of any REO Property (and, with respect to any Serviced Whole Loan, the trust’s interest therein) included
in the Trust Fund as of the end of the related Determination Date for such Distribution Date, on a loan-by-loan basis,
based on the most recent Appraisal or valuation;

 

(ix)          
the Available Funds for such Distribution Date;

 

(x)          
the Interest Distribution Amount, Interest Accrual Amount and Interest Shortfall in respect of such Class of Certificates
for such Distribution Date, separately identifying any Interest Distribution Amount, Interest Accrual Amount or Interest Shortfall,
for such Distribution Date allocated to such Class of Certificates;

 

(xi)          
the amount of the distribution on such Distribution Date to the Holders of such Class of Certificates allocable to (A) Yield
Maintenance Charges and (B) Prepayment Premiums;

 

(xii)          the Pass-Through Rate for such Class of Certificates for such Distribution Date and the next succeeding Distribution
Date;

 

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(xiii)        the
Scheduled Principal Distribution Amount and the Unscheduled Principal Distribution Amount for such Distribution Date, with respect
to the pool of Mortgage Loans;

 

(xiv)        the Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates immediately before and immediately
after such Distribution Date, separately identifying any reduction therein as a result of the allocation of any Realized Loss on
such Distribution Date and the aggregate amount of all reductions as a result of allocations of Realized Losses in respect of the
Principal Balance Certificates to date;

 

(xv)         the Certificate Factor for each Class of Certificates (other than the Class R Certificates) immediately following such Distribution
Date;

 

(xvi)        the amount of any Cumulative Appraisal Reduction Amounts effected (including, with respect to any Serviced Whole Loan, the
amount allocable to the related Mortgage Loan and Serviced Companion Loan) in connection with such Distribution Date on a loan-by-loan
basis and the total Cumulative Appraisal Reduction Amount effected in connection with such Distribution Date;

 

(xvii)       the current Controlling Class;

 

(xviii)      the number and related Stated Principal Balance of any Mortgage Loans extended or modified since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date) on a loan-by-loan basis;

 

(xix)        a loan-by-loan listing of each Mortgage Loan which was the subject of a Principal Prepayment since the previous
Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) and the amount and the type of Principal
Prepayment occurring;

 

(xx)         a loan-by-loan listing of each Mortgage Loan which was defeased since the previous Determination Date (or in the
case of the first Distribution Date, as of the Cut-off Date);

 

(xxi)        all deposits into, withdrawals from, and the balance of the Interest Reserve Account on the P&I Advance Date;

 

(xxii)       in the case of the Class R Certificates, the amount of any distributions on such Certificates pursuant to Section 4.01(a),
Section 4.01(c), Section 4.01(d) and Section 4.01(f);

 

(xxiii)      the amount of the distribution on such Distribution Date to the Holders of such Class of Certificates in reimbursement of
previously allocated Realized Losses;

 

(xxiv)      the aggregate unpaid principal balance of the Mortgage Loans outstanding as of the close of business on the related Determination
Date, with respect to the pool of Mortgage Loans;

 

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(xxv)       with respect to any Mortgage Loan as to which a Liquidation Event occurred since the previous Determination Date (or in
the case of the first Distribution Date, as of the Cut-off Date) or prior to the related Determination Date (other than a payment
in full), (A) the loan number thereof, (B) the aggregate of all Liquidation Proceeds and other amounts received in connection
with such Liquidation Event (separately identifying the portion thereof allocable to distributions on the Certificates) and (C) the
amount of any Realized Loss allocated to the Principal Balance Certificates in connection with such Liquidation Event;

 

(xxvi)      with respect to any REO Property (including, with respect to any Non-Serviced Whole Loan, the Trust’s interest
therein) included in the Trust as to which the Special Servicer determined, in accordance with the Servicing Standard, that all
payments or recoveries with respect to the Mortgaged Property have been ultimately recovered since the previous Determination Date,
(A) the loan number of the related Mortgage Loan, (B) the aggregate of all Liquidation Proceeds and other amounts received
in connection with that determination (separately identifying the portion thereof allocable to distributions on the Certificates)
and (C) the amount of any Realized Loss allocated to the Principal Balance Certificates in respect of the related REO Loan
in connection with that determination;

 

(xxvii)     the aggregate amount of interest on P&I Advances paid to the Master Servicer and the Trustee since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date), with respect to the pool of Mortgage Loans;

 

(xxviii)    [RESERVED];

 

(xxix)       the then-current credit support levels for each Class of Certificates;

 

(xxx)        the aggregate amount of Prepayment Premiums and Yield Maintenance Charges on the Mortgage Loans (each separately identified)
collected since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

 

(xxxi)      a loan-by-loan listing of any material modification, extension or waiver of a Mortgage Loan;

 

(xxxii)     a loan-by-loan listing of any material breach of the representations and warranties given with respect to a Mortgage
Loan by the applicable Mortgage Loan Seller; and

 

(xxxiii)    an
itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates, which information
will be provided to the Certificate Administrator by the Master Servicer.

 

In the case of information
furnished pursuant to clauses (i), (ix), (x), (xi), (xiv), (xxiii), (xxiv) and (xxv) above, the amounts shall be expressed
as a dollar amount in the aggregate for all Certificates of each applicable Class and per Definitive Certificate.

 

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The Certificate Administrator
has not obtained and shall not be deemed to have obtained actual knowledge of any information only by virtue of its receipt and
posting of such information to the Certificate Administrator’s website or filing such information pursuant to this Agreement,
including, but not limited to, filing via the EDGAR system, unless the Certificate Administrator has an explicit obligation to
review or prepare such information.

 

Within a reasonable period
of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who at any time during
the calendar year was a Holder of a Certificate, a statement containing the information set forth in clauses (i) and (x) above
as to the applicable Class, aggregated for such calendar year or applicable portion thereof during which person was a Certificateholder,
together with such other information as the Certificate Administrator deems necessary or desirable, or that a Certificateholder
or Certificate Owner reasonably requests, to enable Certificateholders to prepare their tax returns for such calendar year. Such
obligation of the Certificate Administrator shall be deemed to have been satisfied to the extent that substantially comparable
information shall be provided by the Certificate Administrator pursuant to any requirements of the Code as from time to time are
in force.

 

Upon receipt of an Asset
Review Report Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 12.01(b), the
Certificate Administrator shall (i) include such Asset Review Report Summary in Item 1B on the Form 10-D for
such period in which such Asset Review Report Summary was delivered, and (ii) post such Asset Review Report Summary to the
Certificate Administrator’s Website not later than two (2) Business Days after receipt of such Asset Review Report Summary
from the Asset Representations Reviewer.

 

(b)          [RESERVED].

 

(c)           Each of the Master Servicer and the Special Servicer may, at its sole cost and expense, make available by electronic
media, bulletin board service or Internet website (in addition to making information available as provided herein) any
reports or other information the Master Servicer or the Special Servicer, as applicable, is required or permitted to provide
to any party to this Agreement, the Rating Agencies or any Certificateholder or any prospective Certificateholder that has
provided the Master Servicer or the Special Servicer, as applicable, with an Investor Certification or has executed a
“click-through” confidentiality agreement in accordance with Section 3.13 (which may be a licensed or
registered investment advisor) to the extent such action does not conflict with the terms of this Agreement (including
without limitation, any requirements to keep Privileged Information confidential), the terms of the Mortgage Loans or
applicable law. Notwithstanding this paragraph, the availability of such information or reports on the Internet or similar
electronic media shall not be deemed to satisfy any specific delivery requirements in this Agreement except as set forth
herein. In connection with providing access to the Master Servicer’s Internet website or Special Servicer’s
Internet website (if any), the Master Servicer or the Special Servicer, as applicable, shall take reasonable measures to
ensure that only such parties listed above may access such information including, without limitation, requiring
registration, a confidentiality agreement and acceptance of a disclaimer. Neither the Master Servicer nor the Special
Servicer, as the case may be, shall be liable for dissemination of this information in accordance with this Agreement, and
neither the Master Servicer nor the Special Servicer shall be responsible for any information delivered, produced, or made
available pursuant to Section 3.13 and Section 4.02(a), other than information produced by the Master Servicer
or the

 

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Special Servicer, as applicable; provided that such information otherwise meets the requirements set forth
herein with respect to the form and substance of such information or reports. The Master Servicer shall be entitled to attach
to any report provided pursuant to this subsection, any reasonable disclaimer with respect to information provided, or any
assumptions required to be made by such report.

 

The Special Servicer
shall from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide the Master Servicer with
such information in its possession regarding the Specially Serviced Loans and REO Properties as may be necessary for the Master
Servicer to prepare each report and any supplemental information to be provided by the Master Servicer to the Certificate Administrator.
None of the Certificate Administrator, the Trustee or the Depositor shall have any obligation to recompute, verify or recalculate
the information provided thereto by the Master Servicer. Unless the Certificate Administrator has actual knowledge that any report
or file received from the Master Servicer contains erroneous information, the Certificate Administrator is authorized to rely thereon
in calculating and making distributions to Certificateholders in accordance with Section 4.01, preparing the Distribution
Date Statement required by Section 4.02(a) and allocating Realized Losses to the Certificates in accordance with Section
4.04.

 

Notwithstanding the foregoing,
the failure of the Master Servicer or the Special Servicer to disclose any information otherwise required to be disclosed pursuant
to this Section 4.02(c) or Section 4.02(d) shall not constitute a breach of this Section 4.02(c) or of Section
4.02(d) to the extent the Master Servicer or the Special Servicer so fails because such disclosure, in the reasonable belief
of the Master Servicer or the Special Servicer, as the case may be, would violate any applicable law or any provision of a Mortgage
Loan document prohibiting disclosure of information with respect to the Mortgage Loans or the Mortgaged Properties. The Master
Servicer or the Special Servicer may affix to any information provided by it any disclaimer it deems appropriate in its reasonable
discretion (without suggesting liability on the part of any other party hereto).

 

(d)          Upon the written request of a Certificateholder, any beneficial owner of a Certificate, or any prospective purchaser of
a Certificate that is a Qualified Institutional Buyer and is designated by a Certificateholder or a beneficial owner of a Certificate
as such and, in any case, has delivered an Investor Certification to the Depositor and the Certificate Administrator, as soon as
reasonably practicable, at the expense of the requesting party, the Certificate Administrator shall make available to the requesting
party such information that is in the Certificate Administrator’s possession or can reasonably be obtained by the Certificate
Administrator as is requested by such person, for purposes of satisfying applicable reporting requirements under Rule 144A
under the Securities Act. Neither the Certificate Registrar, nor the Certificate Administrator shall have any responsibility for
the sufficiency under Rule 144A or any other securities laws of any available information so furnished to any person including
any prospective purchaser of a Certificate or any interest therein, nor for the content or accuracy of any information so furnished
which was prepared or delivered to them by another.

 

(e)           The
information to which any Certificateholder is entitled is limited to the information gathered and provided to the Certificateholder
by the parties hereto pursuant to this Agreement and by acceptance of any Certificate, each Certificateholder agrees that except
as

 

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specifically provided herein, no Certificateholder shall contact any Mortgagor directly with respect to any Mortgage Loan.

 

(f)          
Upon the reasonable request of the Directing Certificateholder or any Controlling Class Certificateholder that, in either
case, is an Excluded Controlling Class Holder with respect to any Excluded Loan identified to the Master Servicer’s (in the
case of a Non-Specially Serviced Loan) or the Special Servicer’s (in the case of a Specially Serviced Loan) reasonable satisfaction
(at the expense of the Directing Certificateholder or such Controlling Class Certificateholder) and if such information is in the
Master Servicer’s or the Special Servicer’s possession, as applicable, the Master Servicer or the Special Servicer,
shall provide or make available (or forward electronically) to the Directing Certificateholder or such Controlling Class Certificateholder,
as applicable, (at the expense of the Directing Certificateholder or such Controlling Class Certificateholder, as applicable) any
Excluded Information (available to Privileged Persons through the Certificate Administrator’s Website but not accessible
to the Directing Certificateholder or such Controlling Class Certificateholder, as applicable, through the Certificate Administrator’s
Website because the Directing Certificateholder or such Controlling Class Certificateholder, as applicable, is an Excluded Controlling
Class Holder with respect to another Excluded Loan) relating to any Excluded Loan with respect to which the Directing Certificateholder
or such Controlling Class Certificateholder, as applicable, is not a Borrower Party; provided that, in connection therewith,
the Master Servicer or the Special Servicer may require a written confirmation executed by the requesting Person substantially
in such form as may be reasonably acceptable to the Master Servicer or the Special Servicer, generally to the effect that such
Person is the Directing Certificateholder or a Controlling Class Certificateholder, will keep such Excluded Information confidential
and is not a Borrower Party, upon which the Master Servicer or the Special Servicer may conclusively rely. In addition, the Master
Servicer and the Special Servicer shall be entitled to conclusively rely on delivery from the Directing Certificateholder or a
Controlling Class Certificateholder, as applicable, of an Investor Certification substantially in the form of Exhibit P-1B
that such Directing Certificateholder or Controlling Class Certificateholder is not an Excluded Controlling Class Holder with respect
to a particular Mortgage Loan. For the avoidance of doubt, the Special Servicer referenced in this Section 4.02(f) shall
include any applicable Excluded Special Servicer with respect to the related Excluded Special Servicer Loan(s).

 

(g)          With respect to each Serviced Companion Loan that at any time is included in a securitization involving Serviced Companion
Loan Securities, for so long as any Person (such a Person, a “Serviced Companion Loan EU Transparency Designee”)
is an “originator, sponsor [or] SSPE” (as such terms are defined in the EU Retention Rules) and has transparency and
reporting obligations or conditions imposed by the EU Retention Rules or otherwise under applicable law in connection with such
securitization (“Serviced Companion Loan EU Reporting Obligations”) (and each of the Master Servicer, the Special
Servicer, any applicable Sub-Servicer, and the Certificate Administrator shall be entitled to assume the existence of the circumstances
described in this lead-in clause upon any related requests by or on behalf of the Serviced Companion Loan EU Transparency Designee
or the Serviced Companion Loan EU Reporting Administrator):

 

(i)          
each of the Master Servicer and the Certificate Administrator, as applicable, will make available to the vendor, if any,
designated by the Serviced

 

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Companion Loan EU Transparency Designee (such vendor, the “Serviced Companion Loan EU Reporting
Administrator”) and the Serviced Companion Loan EU Transparency Designee, the CREFC® Investor Reporting
Package and, subject to Section 3.13, access to such parties’ website, if any, relating to this Agreement;

 

(ii)          
each of the Master Servicer, the Special Servicer and the Certificate Administrator, as applicable, shall use reasonable
efforts to deliver or make available to the Serviced Companion Loan EU Reporting Administrator and the Serviced Companion Loan
EU Transparency Designee such additional information and data as may be reasonably requested by the Serviced Companion Loan EU
Reporting Administrator or the Serviced Companion Loan EU Transparency Designee in good faith and such request for such information
and data shall include the following: (A) the specific name of (or, if not known, the type of (using customary references)) report,
data, information, analysis, communication, agreement, document, or instrument being sought and (B) reference to each applicable
loan, borrower or related party, lender, and property (each, a “Serviced Companion Loan Additional Data Request”),
in each case within a reasonable period following the receipt of such Serviced Companion Loan Additional Data Request; provided
that such obligation shall be subject to all of the following terms and conditions:

 

(A)          
the Master Servicer, any Initial Sub-Servicer or the Special Servicer, as the case may be, shall have no obligation to deliver
or make available information or data other than Undeveloped Servicer Information/Data and the Certificate Administrator shall
have no obligation to deliver or make available information or data other than Undeveloped Certificate Administrator Information/Data;

 

(B)           
prior to such Serviced Companion Loan Additional Data Request, the Serviced Companion Loan EU Reporting Administrator and
the Serviced Companion Loan EU Transparency Designee shall have reviewed all information and data it received from each of the
Master Servicer, the Special Servicer and the Certificate Administrator or has access to via such party’s website (or as
a Privileged Person);

 

(C)           
the Master Servicer, any Initial Sub-Servicer, the Special Servicer or the Certificate Administrator, as the case may be,
shall have no obligation to deliver or make available information or data that is contained within the information and data so
received, or previously received, by or made available to the Serviced Companion Loan EU Reporting Administrator and the Serviced
Companion Loan EU Transparency Designee, or either of them, as described in the preceding clause (B) (including any information
or data included in any CREFC® Investor Reporting Package previously delivered or made available);

 

(D)           
the Serviced Companion Loan EU Reporting Administrator or the Serviced Companion Loan EU Transparency Designee has reasonably
determined

 

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it needs the requested information and data for the purposes of compliance with Serviced Companion Loan EU Reporting
Obligations;

 

(E)           
the Master Servicer, any Initial Sub-Servicer or the Special Servicer , as the case may be, shall have no obligation to
deliver or make available information or data other than asset-level Undeveloped Servicer Information/Data, in each case relating
to the securitization(s) effected hereby and the Serviced Mortgage Loans and the Serviced Whole Loans (including Undeveloped Servicer
Information/Data relating to the Borrowers or the Mortgaged Properties), and the Certificate Administrator shall have no obligation
to deliver or make available information or data other than bond-level Undeveloped Certificate Administrator Information/Data relating
to the securitization(s) effected hereby and the Mortgage Loans and the Whole Loans (including Undeveloped Certificate Administrator
Information/Data relating to the Borrowers or the Mortgaged Properties);

 

(F)           
the Master Servicer, any Initial Sub-Servicer, the Special Servicer or the Certificate Administrator, as the case may be,
shall have no obligation to respond to more than one Serviced Companion Loan Additional Data Request made to such Person by the
Serviced Companion Loan EU Reporting Administrator and the Serviced Companion Loan EU Transparency Designee, or either of them,
per reporting period under the EU Retention Rules;

 

(G)           
the Person responsible for delivering or making available such Undeveloped Servicer Information/Data or Undeveloped Certificate
Administrator Information/Data shall be entitled in each case to elect in its sole discretion between delivering such Undeveloped
Servicer Information/Data or Undeveloped Certificate Administrator Information/Data, as the case may be, on the one hand, or making
available such Undeveloped Servicer Information/Data or Undeveloped Certificate Administrator Information/Data, as the case may
be, on the other hand; and

 

(H)           the Serviced Companion Loan EU Transparency Designee shall have previously satisfied the condition regarding indemnification
set forth in Section 4.02(g)(v) below.

 

(iii)         
with respect to each Mortgage Loan or Serviced Whole Loan as to which there is a Sub-Servicer, the Master Servicer shall
use reasonable efforts to cause such Sub-Servicer to provide to the Serviced Companion Loan EU Reporting Administrator and the
Serviced Companion Loan EU Transparency Designee access to such Sub-Servicer’s website in order for the Master Servicer to
comply with its obligations under this Section 4.02(g).

 

(iv)         
for the purposes of clause (ii)(D) above, the Master Servicer, the Special Servicer and the Certificate Administrator (and
each Initial Sub-Servicer) shall be entitled to conclusively assume, and rely upon the determination (without any independent

 

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investigation,
diligence or otherwise), that each Serviced Companion Loan Additional Data Request is necessary for compliance with the Serviced
Companion Loan EU Reporting Obligations;

 

(v)          
it shall be a condition to the obligations of each of the Master Servicer, any Initial Sub-Servicer, the Special Servicer
and the Certificate Administrator otherwise set forth above that the Serviced Companion Loan EU Transparency Designee shall have
caused to be executed and delivered to the Master Servicer, any relevant Initial Sub-Servicer, the Special Servicer and the Certificate
Administrator an undertaking (by an entity reasonably acceptable to the Master Servicer, the Special Servicer, the Certificate
Administrator and any relevant Initial Sub-Servicer) to (A) indemnify and hold harmless the Master Servicer, the Special Servicer,
the Certificate Administrator (and any relevant Initial Sub-Servicer) and their respective officers, directors, shareholders, members,
managers, employees, agents, affiliates and controlling persons (each, a “Serviced Companion Loan EU Reporting Indemnified
Party”), from and against any and all losses, liabilities, damages, claims, judgments, costs, fees, penalties, fines,
forfeitures or other expenses (including reasonable legal fees, expenses, disbursements and costs of enforcement), as incurred,
which any such Serviced Companion Loan EU Reporting Indemnified Party incurs or to which any such Serviced Companion Loan EU Reporting
Indemnified Party may become subject pursuant to an action or claim, insofar as the same arise out of or are based, in whole or
in part, upon the Serviced Companion Loan EU Reporting Obligations and (B) reimburse each Serviced Companion Loan EU Reporting
Indemnified Party for any and all expenses (including, without limitation, the fees, expenses, costs and disbursements of counsel)
as reasonably incurred in investigating, preparing for or defending against any such action or claim, to the extent that any such
expenses are not paid under clause (A) above (in the case of both clauses (A) and (B) above, collectively, “Serviced Companion
Loan EU Reporting Liabilities”); provided that no holding harmless or indemnification shall be required to the
extent that the relevant Serviced Companion Loan EU Reporting Liability arises out of such Serviced Companion Loan EU Reporting
Indemnified Party’s willful misconduct, fraud or gross negligence in the performance of its obligations under this Section
4.02(g) or its grossly negligent disregard of its obligations under this Section 4.02(g); and provided, further,
that such Serviced Companion Loan EU Transparency Designee will be deemed to have satisfied the condition set forth in this clause
(v) with respect to the Master Servicer, any Initial Sub-Servicer, the Special Servicer or the Certificate Administrator, as the
case may be, if such Serviced Companion Loan EU Transparency Designee causes the execution and delivery, to or for the benefit
of the Master Servicer, any Initial Sub-Servicer, the Special Servicer or the Certificate Administrator, as the case may be, an
indemnification agreement the form and substance of which and the obligor under which are acceptable to such Person in its sole
discretion as evidenced by such Person’s execution thereof or consent thereto as a beneficiary. No such losses, claims or
liabilities shall be paid or reimbursed from the Collection Account or otherwise from the Trust Fund; and

 

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(vi)         
the Serviced Companion Loan EU Transparency Designee shall notify the Master Servicer, each relevant Initial Sub-Servicer,
the Special Servicer and the Certificate Administrator in writing of any termination or resignation of the Serviced Companion Loan
EU Reporting Administrator and the appointment of any replacement or successor Serviced Companion Loan EU Reporting Administrator
and, at any time after the effective date of a termination or resignation of the Serviced Companion Loan EU Reporting Administrator
and before the effective date of the appointment of a replacement or successor Serviced Companion Loan EU Reporting Administrator,
references to the Serviced Companion Loan EU Reporting Administrator in this Section 4.02(g) shall be deemed to refer to
the Serviced Companion Loan EU Transparency Designee; provided, however, that the Master Servicer shall furnish the
then-current notice addresses for the relevant Initial Sub-Servicer (as set forth in the related Sub-Servicing Agreements or as
later received by the Master Servicer) within three (3) Business Days following request therefor by the Serviced Companion Loan
EU Transparency Designee and the Serviced Companion Loan EU Transparency Designee shall be entitled to rely on such notice addresses
so furnished to it for the purpose of such notice by the Serviced Companion Loan EU Transparency Designee to each relevant Initial
Sub-Servicer under this clause (vi).

 

Notwithstanding anything to the contrary in
this Agreement, none of the Master Servicer, the Special Servicer or the Certificate Administrator (nor any Sub-Servicer) shall
have any reporting or other similar obligations in connection with the Serviced Companion Loan EU Transparency Designee’s
compliance with the Serviced Companion Loan EU Reporting Obligations except for the obligations expressly set forth above in this
Section 4.02(g).

 

Section 4.03          
P&I Advances. (a) On or before 4:00 p.m., New York City time, on each P&I Advance Date, the Master Servicer
shall (i) remit to the Certificate Administrator for deposit from its own funds into the Lower-Tier REMIC Distribution Account,
an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply
amounts held in the Collection Account, for future distribution to Certificateholders in subsequent months in discharge of any
such obligation to make such P&I Advances or (iii) make such P&I Advances in the form of any combination of (i) and
(ii) aggregating the total amount of P&I Advances to be made. Any amounts held in the Collection Account for future distribution
and so used to make P&I Advances shall be appropriately reflected in the Master Servicer’s records and replaced by the
Master Servicer by deposit in the Collection Account on or before the next succeeding P&I Advance Date (to the extent not previously
replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances
were made). The Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances
to be made by the Master Servicer for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such
Distribution Date, on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make
a required P&I Advance by 4:00 p.m., New York City time, on any P&I Advance Date, the Trustee shall make such P&I Advance
pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall
have cured such failure (and provided written notice of such cure to the Trustee and the Certificate Administrator) by 11:00

 

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a.m.,
New York City time, on such Distribution Date. In the event that the Master Servicer fails to make a required P&I Advance hereunder,
the Certificate Administrator shall notify the Trustee of such circumstances by 4:30 p.m., New York City time, on the related P&I
Advance Date. Notwithstanding the foregoing, the portion of any P&I Advance equal to the CREFC® Intellectual
Property Royalty License Fee shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution
Account but shall be deposited into the Collection Account for payment to CREFC® on such Distribution Date.

 

If the Master Servicer
or the Trustee makes a P&I Advance with respect to any Mortgage Loan that is part of a Serviced Whole Loan, then it shall provide
to the related other master servicer and Other Trustee under the Other Pooling and Servicing Agreement written notice of the amount
of such P&I Advance with respect to such Mortgage Loan within two (2) Business Days of making such P&I Advance.

 

If the Master Servicer
or the Trustee makes a P&I Advance with respect to a Non-Serviced Mortgage Loan, then it shall provide to the related Non-Serviced
Master Servicer and Non-Serviced Trustee written notice of the amount of such P&I Advance within two (2) Business
Days of making such P&I Advance.

 

(b)          
Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made by the Master
Servicer with respect to any Distribution Date, and each Mortgage Loan, shall be equal to: (i) the Periodic Payments (net
of related Servicing Fees and, in the case of any Non-Serviced Mortgage Loan, a fee accruing at the related Non-Serviced
Primary Servicing Fee Rate) other than Balloon Payments, that were due on such Mortgage Loan (including any Non-Serviced Mortgage
Loan) and any related REO Loan (other than any portion of an REO Loan related to a Companion Loan) during the related Collection
Period and were not received as of the close of business on the Business Day preceding the related P&I Advance Date (or not
advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each such Mortgage Loan delinquent
in respect of its Balloon Payment as of the P&I Advance Date (including any REO Loan (other than any portion of an REO Loan
related to a Companion Loan) as to which the related Balloon Payment would have been past due), an amount equal to the Assumed
Scheduled Payment therefor. Subject to subsection (c) below, the obligation of the Master Servicer to make such P&I Advances
is mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan) or REO Loan (other than any
portion of an REO Loan related to a Companion Loan), shall continue until the Distribution Date on which the proceeds, if any,
received in connection with a Liquidation Event or the disposition of the REO Property, as the case may be, with respect thereto
are to be distributed. No P&I Advances shall be made with respect to any Companion Loan.

 

(c)          
Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I
Advance would, if made, constitute a Nonrecoverable P&I Advance. With respect to each Serviced Mortgage Loan, the Master Servicer,
the Special Servicer or the Trustee shall make its determination that a P&I Advance that has been made on such Serviced Mortgage
Loan is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with
respect to such Serviced Mortgage Loan independently of any determination made by the applicable Other Servicer or Other Trustee,
as the case may be, under the applicable Other Pooling and Servicing Agreement in respect of the

 

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related Serviced Companion Loan.
If the Master Servicer, the Special Servicer or the Trustee determines that a proposed P&I Advance with respect to a Serviced
Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Serviced Mortgage Loan previously made, would be,
or is, as applicable, a Nonrecoverable Advance, the Master Servicer, the Special Servicer or the Trustee, as applicable, shall
provide the applicable Other Servicer written notice of such determination within two (2) Business Days of the date of such
determination. If the Master Servicer receives written notice from the related Other Servicer, as the case may be, that an Other
Servicer or the Other Trustee has determined, in accordance with the applicable Other Pooling and Servicing Agreement with respect
to a Serviced Companion Loan, that any proposed advance under the applicable Other Pooling and Servicing Agreement that is similar
to a P&I Advance would be, or any outstanding advance under such Other Pooling and Servicing Agreement that is similar to a
P&I Advance is, a nonrecoverable advance, then the Master Servicer, the Special Servicer or the Trustee may, based upon such
determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Serviced Mortgage
Loan will be a Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer and the Trustee shall not be required
to make any additional P&I Advances with respect to the related Serviced Mortgage Loan unless and until the Master Servicer
or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Serviced Mortgage
Loan would not be a Nonrecoverable P&I Advance, which determination may be as a result of consultation with the related Other
Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer, the Special Servicer or the Trustee,
as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding
P&I Advance would be, or is, as applicable, a Nonrecoverable Advance.

 

With respect to each
Non-Serviced Mortgage Loan, the Master Servicer, the Special Servicer or the Trustee shall make its determination (based on information
provided by the applicable Non-Serviced Master Servicer and Non-Serviced Special Servicer) that a P&I Advance that has been
made on such Non-Serviced Mortgage Loan is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute
a Nonrecoverable Advance with respect to such Non-Serviced Mortgage Loan independently of any determination made by the applicable
Non-Serviced Master Servicer, the applicable Non-Serviced Special Servicer or the Non-Serviced Trustee, as the case may be, under
the applicable Non-Serviced PSA in respect of the related Non-Serviced Companion Loan. If the Master Servicer, the Special Servicer
or the Trustee determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding
P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable
Advance, the Master Servicer, the Special Servicer or the Trustee, as applicable, shall provide the applicable Non-Serviced Master
Servicer and Non-Serviced Special Servicer written notice of such determination within two (2) Business Days of the date of
such determination. If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related
Non-Serviced Special Servicer, as the case may be, that either has determined, or the Non-Serviced Trustee has determined, in accordance
with the applicable Non-Serviced PSA with respect to a Non-Serviced Companion Loan, that any proposed advance under the applicable
Non-Serviced PSA that is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced PSA that is
similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer, the Special Servicer or the Trustee may, based
upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related
Non-Serviced Mortgage Loan will be a Nonrecoverable P&I

 

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Advance. Thereafter, in either case, the Master Servicer and the Trustee
shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and
until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect
to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, which determination may be as a result
of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be,
or otherwise. For the avoidance of doubt, the Master Servicer, the Special Servicer or the Trustee, as the case may be, shall have
the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would
be, or is, as applicable, a Nonrecoverable Advance.

 

(d)         
In connection with the recovery of any P&I Advance out of the Collection Account, pursuant to Section 3.05(a),
the Master Servicer shall be entitled to pay the Trustee and itself (in that order of priority) as the case may be, out of any
amounts then on deposit in the Collection Account (but in no event from any funds allocable to a Serviced Companion Noteholder
(unless related thereto), except to the extent permitted pursuant to the terms of the related Intercreditor Agreement), interest
at the Reimbursement Rate in effect from time to time, accrued on the amount of such P&I Advance from the date made to but
not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) if
the related Periodic Payment is received on or before the related Due Date has passed and any applicable Grace Period has expired
or (ii) if the related Periodic Payment is received after the Determination Date but on or prior to the related P&I Advance
Date. The Master Servicer shall reimburse itself and/or the Trustee, as the case may be, for any outstanding P&I Advance, subject
to Section 3.17 of this Agreement, as soon as practicably possible after funds available for such purpose are deposited
in the Collection Account.

 

(e)          
Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Yield Maintenance
Charges, Default Interest, late payment charges, Prepayment Premiums, or Balloon Payments or make any P&I Advance with respect
to any Companion Loan and (ii) if an Appraisal Reduction Amount has been determined with respect to any Mortgage Loan (or,
in the case of a Non-Serviced Whole Loan, an “appraisal reduction amount” has been made in accordance with the
related Non-Serviced PSA and the Master Servicer has notice of such appraisal reduction amount) then in the event of subsequent
delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution
Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance)
to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution
Date without regard to this Section 4.03(e), and (y) a fraction, expressed as a percentage, the numerator of which
is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related
Appraisal Reduction Amount (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction Amount allocated
to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan
immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Periodic Payment due on the
Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date.

 

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Section 4.04          
Allocation of Realized Losses. (a) On each Distribution Date, immediately following the distributions to be
made on such date pursuant to Section 4.01, the Certificate Administrator shall calculate the Realized Loss for such Distribution
Date. Any allocation of Realized Losses to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof
by the amount so allocated. Any Realized Losses so allocated to a Class of Regular Certificates shall be allocated among the respective
Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Realized Losses shall
constitute an allocation of losses and other shortfalls experienced by the Trust. Reimbursement of previously allocated Realized
Losses will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate
Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal
Balance Certificates, to the extent that any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal
collections on the Mortgage Loans (including REO Loans) and previously resulted in a reduction of the Principal Distribution Amount
are subsequently recovered on the related Mortgage Loan or REO Property, then (on the Distribution Date related to the Collection
Period during which the recovery occurred): (i) the amount of such recovery will be added to the Certificate Balance of the Class
or Classes of Principal Balance Certificates that previously were allocated Realized Losses in sequential order according to the
priority of payments for the Principal Balance Certificates (and in the case of the Principal Balance Certificates that are Senior
Certificates, on a pro rata basis according to the amount of unreimbursed Realized Losses on such Classes), in each case
up to the lesser of (A) the unallocated portion of such recovery and (B) the amount of the unreimbursed Realized Losses previously
allocated to the subject class of certificates; and (ii) the Interest Shortfall with respect to each affected class of Certificates
for the next Distribution Date shall be increased by the amount of interest that would have accrued through the then current Distribution
Date if the restored write-down for the reimbursed class of Principal Balance Certificates had never been written down. If the
Certificate Balance of any Class of Principal Balance Certificates is so increased, the amount of unreimbursed Realized Losses
of such Class of Principal Balance Certificates shall be decreased by such amount.

 

(b)          On
each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as
a write-off to the extent of any Realized Losses, if any, allocable to such Certificates with respect to such Distribution Date.
Any such write-off shall be allocated first, to the Class J-RR Certificates, second, to the Class H-RR Certificates,
third, to the Class G-RR Certificates, fourth, to the Class F-RR Certificates, fifth, to the Class E-RR Certificates,
sixth, to the Class D Certificates, seventh, to the Class C Certificates, eighth, to the Class B Certificates,
ninth, to the Class A-S Certificates and then, pro rata (based on their respective Certificate Balances),
to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates, in each case until the remaining Certificate
Balances of such Classes of Certificates have been reduced to zero.

 

(c)          
With respect to any Distribution Date, any Realized Losses allocated to a Class of Principal Balance Certificates pursuant
to Section 4.04(a) or Section 4.04(b), with respect to such Distribution Date shall reduce the Lower-Tier Principal
Amount of the Related Lower-Tier Regular Interest with respect thereto as a write-off.

 

Section 4.05         
Appraisal Reduction Amounts; Collateral Deficiency Amounts. (a) For purposes of (x) determining the Controlling
Class (and whether a Control Termination

 

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Event or an Operating Advisor Consultation Event has occurred and is continuing) and (y) determining
the Voting Rights of the related Classes for purposes of removal of the Special Servicer or the Operating Advisor, Cumulative Appraisal
Reduction Amounts (with respect to a Serviced Whole Loan, to the extent allocated to the related Mortgage Loan) shall be allocated
to each Class of Principal Balance Certificates in reverse sequential order to notionally reduce the related Certificate Balances
until the Certificate Balance of each such Class is reduced to zero (i.e., first, to the Class J-RR Certificates,
second, to the Class H-RR Certificates, third, to the Class G-RR Certificates, fourth, to the Class F-RR Certificates,
fifth, to the Class E-RR Certificates, sixth, to the Class D Certificates, seventh, to the Class C Certificates,
eighth, to the Class B Certificates, ninth, to the Class A-S Certificates, and finally, pro rata based
on their respective interest entitlements, to the Senior Certificates (other than the Class X-A, Class X-B and Class X-D
Certificates).

 

As of the first Determination
Date after a Mortgage Loan (other than a Non-Serviced Mortgage Loan) becomes an AB Modified Loan, the Special Servicer shall calculate
whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan, taking into account the most recent Appraisal
obtained by the Special Servicer with respect to such Mortgage Loan, and all other information in its possession relevant to a
Collateral Deficiency Amount determination. Upon obtaining knowledge or receipt of notice by the Master Servicer that a Non-Serviced
Mortgage Loan has become an AB Modified Loan, the Master Servicer shall (i) promptly request from the related Non-Serviced Master
Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee the most recent appraisal with respect to such AB Modified Loan,
in addition to all other information reasonably required by the Master Servicer to calculate whether a Collateral Deficiency Amount
exists with respect to such AB Modified Loan, and (ii) as of the first Determination Date following receipt by the Master Servicer
of the appraisal and any other information set forth in the immediately preceding clause (i) that the Master Servicer reasonably
expects to receive, calculate whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan, taking into
account the most recent appraisal obtained by the Non-Serviced Special Servicer with respect to such Non-Serviced Mortgage Loan,
and all other information in its possession relevant to a Collateral Deficiency Amount determination. Upon obtaining actual knowledge
or receipt of notice by any other party to this Agreement that a Non-Serviced Mortgage Loan has become an AB Modified Loan, such
party shall promptly notify the Master Servicer thereof. None of the Master Servicer (with respect to Mortgage Loans other than
Non-Serviced Mortgage Loans), the Special Servicer (with respect to Non-Serviced Mortgage Loans), the Operating Advisor, the Trustee
or the Certificate Administrator shall calculate or verify any Collateral Deficiency Amount.

 

With respect to any Appraisal
Reduction Amount or Collateral Deficiency Amount, as applicable, calculated for purposes of determining (i) the Voting Rights of
the related Classes for purposes of removal of the Special Servicer or the Operating Advisor or (ii)  the Controlling Class
or the occurrence and continuance of a Control Termination Event or an Operating Advisor Consultation Event, the appraised value
of the related Mortgaged Property shall be determined on an “as is” basis.

 

The Special Servicer
(in the case of a Mortgage Loan other than a Non-Serviced Mortgage Loan) or the Master Servicer (in the case of a Non-Serviced
Mortgage Loan), shall notify the Master Servicer or the Special Servicer, as the case may be (and the Master Servicer shall

 

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notify
the Certificate Administrator), of the amount of any Appraisal Reduction Amount (which notification from the Master Servicer to
the Certificate Administrator shall be made by delivery of the CREFC® Loan Periodic Update File in accordance with
Section 3.12(d) or such other report or reports as mutually agreed upon between the Master Servicer and the Certificate
Administrator), any Collateral Deficiency Amount and (except in the case of the Master Servicer) any resulting Cumulative Appraisal
Reduction Amount with respect to each Mortgage Loan, AB Modified Loan or Serviced Whole Loan, if any (which notification shall
be satisfied through delivery of such Appraisal Reduction Amount, Collateral Deficiency Amount and Cumulative Appraisal Reduction
Amount as included in the CREFC® Appraisal Reduction Template included in the CREFC® Investor Reporting
Package or such other report or reports mutually agreed upon between the Master Servicer and the Certificate Administrator (which
shall be delivered by the Master Servicer simultaneously with the CREFC® Loan Periodic Update File in accordance
with Section 3.12(d)) and the Certificate Administrator shall promptly post notice of such Appraisal Reduction Amount, Collateral
Deficiency Amount and/or Cumulative Appraisal Reduction Amount, as applicable, to the Certificate Administrator’s Website.
Based on information in its possession, the Certificate Administrator shall determine from time to time which Class of Certificates
is the Controlling Class. Promptly upon its determination of a change in the Controlling Class, the Certificate Administrator shall
notify the Master Servicer, the Special Servicer and the Operating Advisor of such event, including the identity and contact information
of the new Controlling Class Certificateholder and the identity of the Controlling Class as set forth in Section 3.23(l)
(the cost of obtaining such information from the Depository being an expense of the Trust).

 

(b)          (i) The Holders of the majority of Voting Rights of any Class of Control Eligible Certificates that is determined at
any time of determination to no longer be the Controlling Class (any such Class, an “Appraised-Out Class”)
as a result of an Appraisal Reduction Amount or Collateral Deficiency Amount (as applicable) in respect of such Class shall have
the right and, with respect to a Serviced Whole Loan, the Other Servicers shall have the right upon the request of similarly situated
holders of certificates in the related Other Securitization, at their sole expense, to require the Special Servicer to order (or,
with respect to a Non-Serviced Mortgage Loan, require the Master Servicer to request from the applicable Non-Serviced Special
Servicer) a second Appraisal with respect to any Mortgage Loan (or Serviced Whole Loan) for which an Appraisal Reduction Event
has occurred or as to which there exists a Collateral Deficiency Amount (such Holders, the “Requesting Holders”).
With respect to any such Mortgage Loan (other than with respect to a Non-Serviced Mortgage Loan), the Special Servicer shall
use commercially reasonable efforts to cause such second Appraisal to be (A) delivered within thirty (30) days from receipt
of the Requesting Holders’ 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
Requesting Holders are requesting the Special Servicer to obtain an additional Appraisal). With respect to any such Non-Serviced
Mortgage Loan, the Master Servicer shall use commercially reasonable efforts to obtain such second appraisal from the applicable
Non-Serviced Special Servicer and to forward such second appraisal to the Special Servicer.

 

(ii)          
Upon receipt of any supplemental Appraisal pursuant to clause (i) above, the Master Servicer (for Collateral Deficiency
Amounts on Non-Serviced Mortgage Loans), the applicable Non-Serviced Special Servicer (for Appraisal Reduction Amounts
on Non-Serviced Mortgage Loans to the extent provided for in the applicable Non-Serviced PSA and applicable Intercreditor
Agreement) and the Special Servicer shall determine, in

 

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accordance with the Servicing Standard, whether, based on its assessment
of such supplemental Appraisal, any recalculation of the Appraisal Reduction Amount or Collateral Deficiency Amount (as applicable)
is warranted, and if so warranted, the Special Servicer shall recalculate the Appraisal Reduction Amount or Collateral Deficiency
Amount, as applicable, based on such supplemental Appraisal and (in the case of a Mortgage Loan other than a Non-Serviced Mortgage
Loan) any information received from the Master Servicer. If required by such recalculation, the Appraised-Out Class shall be
reinstated as the Controlling Class and each other Appraised-Out Class shall, if applicable, have its related Certificate Balance
notionally restored to the extent required by such recalculation of the Appraisal Reduction Amount or Collateral Deficiency Amount,
as applicable. The Holders of an Appraised-Out Class requesting any supplemental Appraisal pursuant to clause (i) above
shall refrain from exercising any direction, control, consent and/or similar rights of the Controlling Class until such time, if
any, as the Class is reinstated as the Controlling Class (such period beginning upon receipt by the Special Servicer or the Master
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, the Master Servicer or Non-Serviced Special Servicer determines that no recalculation
of the Appraisal Reduction Amount or Collateral Deficiency Amount is warranted or (B) the Special Servicer, the Master Servicer
or Non-Serviced Special Servicer recalculates the Appraisal Reduction Amount or Collateral Deficiency Amount, as applicable,
based on the supplemental Appraisal, the “Appraisal Review Period”). The rights of the Controlling Class during
each Appraisal Review Period shall be exercised by the next most senior Class of Control Eligible Certificates, if any.

 

(c)          
With respect to each Mortgage Loan (other than a Non-Serviced Mortgage Loan), and each Serviced Whole Loan as to which an
Appraisal Reduction Event has occurred (unless such Mortgage Loan or Serviced Whole Loan has become a Corrected Loan (for such
purposes taking into account any amendment or modification of such Mortgage Loan, any related Companion Loan or Serviced Whole
Loan)), the Special Servicer shall (1) within thirty (30) days of the occurrence or of each anniversary of the related
Appraisal Reduction Event, and (2) upon its determination that the value of the related Mortgaged Property has materially
changed, notify the Master Servicer of the occurrence of such anniversary or determination and order an Appraisal (which may be
an update of a prior Appraisal), the cost of which shall be paid by the Master Servicer as a Servicing Advance or to the extent
it would be a Nonrecoverable Advance, an expense of the Trust, or conduct an internal valuation, as applicable and, promptly following
receipt of any such Appraisal or performance of such valuation (or receipt of any Appraisal obtained in accordance with Section
4.05(b) above), shall deliver a copy thereof to the Master Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor and ((i) prior to the occurrence and continuance of any Consultation Termination Event and (ii) other than with
respect to any Excluded Loan) the Directing Certificateholder. Based upon such Appraisal or internal valuation (or any Appraisal
obtained in accordance with Section 4.05(b) above) and receipt of information requested by the Special Servicer from the
Master Servicer that is in the possession of the Master Servicer and reasonably necessary to calculate the Appraisal Reduction
Amount, the Special Servicer shall determine or redetermine, as applicable, and report to the Master Servicer, the Certificate
Administrator, the Trustee, the Operating Advisor and ((i) prior to the occurrence and continuance of any Consultation Termination
Event and (ii) other than with respect to any Excluded Loan) the Directing Certificateholder, the amount and calculation or
recalculation of the

 

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Appraisal Reduction Amount or Collateral Deficiency Amount with respect to such Mortgage Loan, Companion Loan
or Serviced Whole Loan, as applicable, and such report shall be delivered in the CREFC® Appraisal Reduction Template
format; provided, however, that the Special Servicer shall not be liable for failure to comply with such duties insofar
as such failure results from a failure of the Master Servicer to provide sufficient information to the Special Servicer to comply
with such duties or failure by the Master Servicer to otherwise comply with its obligations hereunder. Following the Master Servicer’s
receipt from the Special Servicer of the calculation of the Appraisal Reduction Amounts, the Master Servicer shall provide such
information to the Certificate Administrator in the form of the CREFC® Loan Periodic Update File and the CREFC®
Appraisal Reduction Template provided to it by the Special Servicer or such other report or reports mutually agreed upon between
the Master Servicer and the Certificate Administrator. Such report shall also be forwarded by the Master Servicer (or the Special
Servicer if the related Mortgage Loan is a Specially Serviced Loan), to the extent the related Serviced Companion Loan has been
included in an Other Securitization, to the Other Servicer of such Other Securitization into which the related Serviced Companion
Loan has been sold, or to the holder of any related Serviced Companion Loan by the Master Servicer (or the Special Servicer if
the related Mortgage Loan is a Specially Serviced Loan). If the Special Servicer is required to redetermine the Appraisal Reduction
Amount or Collateral Deficiency Amount, such redetermined Appraisal Reduction Amount or Collateral Deficiency Amount shall replace
the prior Appraisal Reduction Amount or Collateral Deficiency Amount, as applicable, with respect to such Mortgage Loan, Companion
Loan or Serviced Whole Loan, as applicable. Prior to the occurrence and continuance of a Consultation Termination Event and other
than with respect to any Excluded Loan, the Special Servicer shall consult with the Directing Certificateholder with respect to
any Appraisal, valuation or downward adjustment in connection with an Appraisal Reduction Amount or Collateral Deficiency Amount.
Notwithstanding the foregoing but subject to Section 4.05(b), the Special Servicer will not be required to obtain an Appraisal
or conduct an internal valuation, as applicable, with respect to a Mortgage Loan or related Companion Loan or Serviced Whole Loan
as to which an Appraisal Reduction Event has occurred to the extent the Special Servicer has obtained an Appraisal or conducted
such a valuation (in accordance with requirements of this Agreement), as applicable, with respect to the related Mortgaged Property
within the twelve-month period immediately prior to the occurrence of such Appraisal Reduction Event. Instead, the Special Servicer
may use such prior Appraisal or valuation, as applicable, in calculating any Appraisal Reduction Amount or Collateral Deficiency
Amount with respect to such Mortgage Loan or related Companion Loan or Serviced Whole Loan; provided that the Special Servicer
is not aware of any material change to the related Mortgaged Property having occurred and affecting the validity of such Appraisal
or valuation.

 

The Master Servicer shall
deliver by electronic mail to the Special Servicer any information in its possession that is reasonably required to determine,
calculate, redetermine or recalculate any Appraisal Reduction Amount, using reasonable efforts to deliver such information, within
four (4) Business Days following the Special Servicer’s reasonable request therefor; provided that the Special
Servicer’s failure to timely make such request shall not relieve the Master Servicer of its obligation to use reasonable
efforts to provide such information to the Special Servicer within four (4) Business Days following the Special Servicer’s
reasonable request.

 

(d)          Any Mortgage Loan (other than a Non-Serviced Mortgage Loan), any related Serviced Companion Loan and any Serviced Whole
Loan previously subject to an

 

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Appraisal Reduction Amount, which has become a Corrected Loan (for such purposes taking into account
any amendment or modification of such Mortgage Loan, any related Serviced Companion Loan and any Serviced Whole Loan, as applicable),
and with respect to which no other Appraisal Reduction Event has occurred and is continuing, will no longer be subject to an Appraisal
Reduction Amount. Any Appraisal Reduction Amount in respect of a Non-Serviced Whole Loan shall be calculated by the applicable
party under and in accordance with and pursuant to the terms of the applicable Non-Serviced PSA.

 

(e)          
Each Serviced Whole Loan will be treated as a single mortgage loan for purposes of calculating an Appraisal Reduction Amount
with respect to the Mortgage Loan and Companion Loan(s) that comprise such Serviced Whole Loan. Any Appraisal Reduction Amount
in respect of a Serviced AB Whole Loan will be allocated in accordance with the related Intercreditor Agreement or, if no allocation
is specified in the related Intercreditor Agreement, then, first, to the related AB Subordinate Companion Loan (until its
principal balance is notionally reduced to zero by such Appraisal Reduction Amounts) and second, pro rata between
the related Serviced AB Mortgage Loan and any Serviced Pari Passu Companion Loans. Any Appraisal Reduction Amount that would impact
any Serviced Pari Passu Whole Loan will be allocated in accordance with the related Intercreditor Agreement or, if no allocation
is specified in the related Intercreditor Agreement, then, pro rata, between the related Serviced Pari Passu Mortgage Loan
and the related Serviced Pari Passu Companion Loan, based upon their respective outstanding principal balances.

 

Section 4.06           
[RESERVED].

 

Section 4.07          
Investor Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document Request Tool. (a) The
Certificate Administrator shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor Q&A
Forum” shall be a service available on the Certificate Administrator’s Website, where (i) Certificateholders and
beneficial owners of Certificates that are Privileged Persons may submit questions to (A) the Certificate Administrator relating
to the Distribution Date Statement, (B) the Master Servicer or the Special Servicer, as the case may be, relating to the reports
being made available pursuant to Section 3.13(b) and Section 3.13(e), the Mortgage Loans (excluding any Non-Serviced
Mortgage Loan) or the related Mortgaged Properties or (C) the Operating Advisor relating to the Operating Advisor Annual Report
or other reports prepared by the Operating Advisor or actions by the Special Servicer referenced in any Operating Advisor Annual
Report (each an “Inquiry” and collectively, “Inquiries”), and (ii) Privileged Persons
may view Inquiries that have been previously submitted and answered, together with the answers thereto. Upon receipt of an Inquiry
for the Master Servicer, the Special Servicer, Certificate Administrator or the Operating Advisor, as applicable, and in the case
of any Inquiry relating to a Non-Serviced Mortgage Loan, to the related Non-Serviced Master Servicer or related Non-Serviced Special
Servicer, as applicable, the Certificate Administrator shall forward the Inquiry to the appropriate person (in the case of the
Master Servicer to the following: AskMidland@Midlandls.com), in each case within a commercially reasonable period of time following
receipt thereof. Following receipt of an Inquiry, the Master Servicer, the Special Servicer, the Certificate Administrator or the
Operating Advisor, as applicable, unless such party determines not to answer such Inquiry as provided below, shall reply to the
Inquiry, which reply of the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, shall be delivered to
the Certificate Administrator by electronic mail. In the case of

 

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an Inquiry relating to a Non-Serviced Mortgage Loan, the Certificate
Administrator shall make reasonable efforts to obtain an answer from the related Non-Serviced Master Servicer or the related Non-Serviced
Special Servicer, as applicable; provided that the Certificate Administrator shall not be responsible for the content of
such answer or any delay or failure to obtain such answer. The Certificate Administrator shall post (within a commercially reasonable
period of time following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer to the
Certificate Administrator’s Website. If the Certificate Administrator, the Master Servicer, the Special Servicer or the Operating
Advisor determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of the topics described above,
(ii) answering any Inquiry would not be in the best interests of the Trust and/or the Certificateholders, (iii) answering
any Inquiry would be in violation of applicable law, the applicable Mortgage Loan documents or this Agreement, (iv) answering
any Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the Master Servicer,
the Special Servicer, the Certificate Administrator or the Operating Advisor, as applicable, (v) answering any Inquiry would
require the disclosure of Privileged Information (subject to the Privileged Information Exception), (vi) that answering the Inquiry
would or is reasonably expected to result in a waiver of an attorney-client privilege or disclosure of attorney work product or
(vii) answering any Inquiry is otherwise, for any reason, not advisable, it shall not be required to answer such Inquiry and,
in the case of the Master Servicer, the Special Servicer or the Operating Advisor, shall promptly notify the Certificate Administrator
of such determination. In addition, no party shall post or otherwise disclose any direct communications with the Directing Certificateholder
as part of its response to any Inquiries. The Certificate Administrator shall notify the Person who submitted such Inquiry in the
event that the Inquiry will not be answered. Any notice by the Certificate Administrator to the Person who submitted an Inquiry
that will not be answered shall include the following statement: “Because the Pooling and Servicing Agreement provides that
the Master Servicer, the Special Servicer, the Certificate Administrator and the Operating Advisor shall not answer an Inquiry
if it determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of the topics described in the
Pooling and Servicing Agreement, (ii) answering any Inquiry would not be in the best interests of the Trust and/or the Certificateholders,
(iii) answering any Inquiry would be in violation of applicable law or the applicable Mortgage Loan documents, (iv) answering
any Inquiry would materially increase the duties of, or result in significant additional costs or expenses to the Trustee, the
Master Servicer, the Special Servicer, the Certificate Administrator or Operating Advisor, as applicable, (v) answering any
Inquiry would require the disclosure of Privileged Information, or (vi) answering any Inquiry is otherwise, for any reason,
not advisable, no inference should or may be drawn from the fact that the Master Servicer, the Special Servicer, the Certificate
Administrator or the Operating Advisor has declined to answer the Inquiry.” Answers posted on the Investor Q&A Forum
will be attributable only to the respondent, and shall not be deemed to be answers from any of the Depositor, the Underwriters
or any of their respective Affiliates. None of the Underwriters, Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Operating Advisor or any of their respective Affiliates will certify to any of the information
posted in the Investor Q&A Forum and no such party shall have any responsibility or liability for the content of any such information.
The Certificate Administrator shall not be required to post to the Certificate Administrator’s Website any Inquiry or answer
thereto that the Certificate Administrator determines, in its sole discretion, is administrative or ministerial in nature. The
Investor Q&A Forum will not reflect questions, answers and other communications that are not submitted via the Certificate
Administrator’s Website.

 

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Notwithstanding the foregoing, the Operating Advisor shall not be required to respond to any Inquiries
from Certificateholders for which its response would require the Operating Advisor to provide information to such inquiring Certificateholders
that they are otherwise not entitled to receive under the terms of this Agreement.

 

(b)          The Certificate Administrator shall make available to any Certificateholder and any Certificate Owner that is a Privileged
Person, the Investor Registry. The “Investor Registry” shall be a voluntary service available on the Certificate Administrator’s
Website, where Certificateholders and Certificate Owners that are Privileged Persons can register and thereafter obtain information
with respect to any other Certificateholder or Certificate Owner that has so registered. Any person registering to use the Investor
Registry shall certify that (a) it is a Certificateholder or a Certificate Owner and a Privileged Person and (b) it grants
authorization to the Certificate Administrator to make its name and contact information available on the Investor Registry for
at least forty-five (45) days from the date of such certification to persons entitled to access to the Investor Registry.
Such Person shall then be asked to enter certain mandatory fields such as the individual’s name, the company name and email
address, as well as certain optional fields such as address, phone, and Class(es) of Certificates owned. If any Certificateholder
or Certificate Owner notifies the Certificate Administrator that it wishes to be removed from the Investor Registry (which notice
may not be within forty-five (45) days of its registration), the Certificate Administrator shall promptly remove it from
the Investor Registry. The Certificate Administrator will not be responsible for verifying or validating any information submitted
on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate Administrator
may require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

(c)          
The 17g-5 Information Provider shall make available, only to NRSROs, the Rating Agency Q&A Forum and Document Request
Tool. The “Rating Agency Q&A Forum and Document Request Tool” shall be a service available on the 17g-5 Information
Provider’s Website, where NRSROs may (i) submit questions to the Certificate Administrator relating to any Distribution
Date Statements, or submit questions to the Master Servicer or the Special Servicer, as the case may be, relating to the reports
prepared by such parties (each such submission, a “Rating Agency Inquiry”), and (ii) view Rating Agency
Inquiries that have been previously submitted and answered, together with the responses thereto. In addition, NRSROs may use the
forum to submit requests (each such submission also, a “Rating Agency Inquiry”) to the Master Servicer for loan-level
reports and other related information. Upon receipt of a Rating Agency Inquiry for the Master Servicer or the Special Servicer,
the 17g-5 Information Provider shall forward the Rating Agency Inquiry to the appropriate person (in the case of the Master
Servicer to the following: AskMidland@Midlandls.com), in each case within a commercially reasonable period of time following receipt
thereof. Following receipt of a Rating Agency Inquiry from the 17g-5 Information Provider, the Master Servicer or the Special
Servicer, as the case may be, unless it determines not to answer such Rating Agency Inquiry as provided below, shall reply by email
to the Certificate Administrator. The 17g-5 Information Provider shall post (within a commercially reasonable period of time
following receipt of such response) such Rating Agency Inquiry with the related response thereto (or such reports, as applicable)
to the Rating Agency Q&A Forum and Document Request Tool. Any reports posted by the 17g-5 Information Provider in response
to an inquiry may be posted on a separate website or web page accessible by a link on the 17g-5 Information Provider’s
Website. If the Certificate Administrator, the Master Servicer

 

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or the Special Servicer determines, in its respective sole discretion,
that (i) answering any Rating Agency Inquiry would be in violation of applicable law, the Servicing Standard, this Agreement
or any Mortgage Loan documents, (ii) answering any Rating Agency Inquiry would or is reasonably expected to result in a waiver
of an attorney-client privilege with, or the disclosure of attorney work product, or (iii) (A) answering any Rating
Agency Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the Certificate
Administrator, the Master Servicer or the Special Servicer, as applicable, and (B) the Certificate Administrator, the Master
Servicer or the Special Servicer, as applicable, determines in accordance with the Servicing Standard (or in good faith, in the
case of the Certificate Administrator) that the performance of such duties or the payment of such costs and expenses is beyond
the scope of its duties in its capacity as Certificate Administrator, Master Servicer or Special Servicer, as applicable, under
this Agreement, it shall not be required to answer such Rating Agency Inquiry and shall promptly notify the 17g-5 Information
Provider by email of such determination. The 17g-5 Information Provider shall promptly thereafter post the Rating Agency Inquiry
with the reason it was not answered to the Rating Agency Q&A Forum and Document Request Tool. The 17g-5 Information Provider
will not be liable for the failure by any other such Person to so answer. Questions posted on the Rating Agency Q&A Forum and
Document Request Tool shall not be attributed to the submitting NRSRO. Answers posted on the Rating Agency Q&A Forum and Document
Request Tool will be attributable only to the respondent, and shall not be deemed to be answers from any other person. None of
the Underwriters, the Depositor, or any of their respective Affiliates will certify to any of the information posted in the Rating
Agency Q&A Forum and Document Request Tool and no such party shall have any responsibility or liability for the content of
any such information. The 17g-5 Information Provider shall not be required to post to the 17g-5 Information Provider’s
Website any Rating Agency Inquiry or answer thereto that the 17g-5 Information Provider determines, in its sole discretion,
is administrative or ministerial in nature. The Rating Agency Q&A Forum and Document Request Tool will not reflect questions,
answers and other communications that are not submitted via the 17g-5 Information Provider’s Website.

 

Section 4.08          
Secure Data Room. (a) The Certificate Administrator shall create a Secure Data Room and the Depositor shall, upon
the receipt of each Mortgage Loan Seller’s Diligence File Certification and within 120 days following the Closing Date,
deliver to the Certificate Administrator an electronic copy of the Diligence Files for the Mortgage Loans that have been uploaded
by the Mortgage Loan Sellers to the Designated Site. Upon receipt thereof, the Certificate Administrator shall promptly upload
the contents of each Diligence File actually received by it to the Secure Data Room. Access to the Secure Data Room shall be granted
by the Certificate Administrator to (i) the Asset Representations Reviewer and (ii) any other Person at the direction
of the Depositor, in each case, upon the occurrence of an Affirmative Asset Review Vote and receipt by the Certificate Administrator
of a certification substantially in the form of Exhibit RR hereto (which shall be sent via email to trustadministrationgroup@wellsfargo.com
or submitted electronically via the Certificate Administrator’s website). In no case whatsoever shall Certificateholders
be permitted to access the Secure Data Room. For the avoidance of doubt, the Certificate Administrator shall be under no obligation
to post any documents or information to the Secure Data Room other than the contents of the Diligence Files initially delivered
to it by the Depositor.

 

(b)          The
Certificate Administrator shall not have any obligation or duty to verify, review, confirm or otherwise determine whether the
type, number or contents of any

 

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Diligence File delivered to the Certificate Administrator is accurate, complete, or relates to
the transaction or confirm that all documents and information constituting any Diligence File have actually been delivered to
the Certificate Administrator. In no case shall the Certificate Administrator be deemed to have obtained actual or constructive
knowledge of the contents of, or information contained in, any Diligence File by virtue of posting such Diligence File to the
Secure Data Room. In the event that any document or information is posted in error, the Certificate Administrator may remove such
document or information from the Secure Data Room. The Certificate Administrator shall not have any obligation to produce physical
or electronic copies of any document or information provided to it for posting to the Secure Data Room. The Certificate Administrator
shall not be responsible or held liable for any other Person’s use or dissemination of the documents or information contained
on the Secure Data Room; provided that such event or occurrence is not also a result of its own negligence, bad faith or
willful misconduct. The Certificate Administrator shall not be required to restrict access to the Secure Data Room on a loan-by-loan
basis and any Person with access to the Secure Data Room shall covenant to access only the information necessary to perform its
duties and responsibilities under this Agreement.

 

(c)          
Upon the resignation or removal of the Certificate Administrator pursuant to Section 8.07, the Certificate Administrator
shall transfer electronic copies of the Diligence Files to a successor certificate administrator designated in writing by the Depositor,
and all costs and expenses associated with the transfer of the Diligence Files shall be payable as part of the costs and expenses
associated with the transfer of its responsibilities upon the resignation or removal of the Certificate Administrator pursuant
to Section 8.07. Following the date on which any Mortgage Loan is paid in full, liquidated, repurchased or otherwise removed
from the Trust, the Special Servicer may direct the Certificate Administrator in writing to delete the Diligence File related to
such Mortgage Loan from the Secure Data Room; provided that absent such direction, the Certificate Administrator shall not
be obligated to delete any Diligence File from the Secure Data Room. Following the termination of the Trust pursuant to Section
9.01, the Certificate Administrator shall be permitted to delete all files from the Secure Data Room. Upon deletion, in no
event shall the Certificate Administrator be obligated to reproduce or retrieve such deleted files.

 

[End of Article IV]

 

ARTICLE
V

THE CERTIFICATES

 

Section 5.01          
The Certificates. (a) The Certificates will be substantially in the respective forms annexed hereto as Exhibits A-1
through and including A-3, with such appropriate insertions, omissions, substitutions and other variations as are required
or permitted by this Agreement or as may, in the reasonable judgment of the Certificate Registrar, be necessary, appropriate or
convenient to comply, or facilitate compliance, with applicable laws, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may be required by law, or as may, consistently herewith, be determined by the
officers executing such Certificates, as evidenced by their execution thereof. The Class X Certificates shall be issuable only
in minimum Denominations of authorized initial Notional Amount of not less than $1,000,000 and in integral multiples of $1.00 in
excess thereof. The Registered Certificates (other than the Class X-A and Class X-B Certificates) shall be issuable only
in minimum

 

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Denominations of authorized initial Certificate Balance of not less than $10,000, and in integral multiples of $1.00
in excess thereof. The Non-Registered Certificates (other than the Class X-D and Class R Certificates) shall be issuable
in minimum Denominations of authorized initial Certificate Balance of not less than $100,000, and in integral multiples of $1.00
in excess thereof. If the Original Certificate Balance or initial Notional Amount, as applicable, of any Class of Certificates
does not equal an integral multiple of $1.00, then a single additional Certificate of such Class may be issued in a minimum denomination
of authorized initial Certificate Balance or initial Notional Amount, as applicable, that includes the excess of (i) the Original
Certificate Balance or initial Notional Amount, as applicable, of such Class over (ii) the largest integral multiple of $1.00
that does not exceed such amount. The Class R Certificates shall be issued, maintained and transferred in minimum percentage interests
of 10% of such Class R Certificates and in integral multiples of 1% in excess thereof.

 

(b)          
One authorized signatory shall sign the Certificates for the Certificate Registrar by manual or facsimile signature. If
an authorized signatory whose signature is on a Certificate no longer holds that office at the time the Certificate Registrar countersigns
the Certificate, the Certificate shall be valid nevertheless. A Certificate shall not be valid until an authorized signatory of
the Certificate Registrar (who may be the same officer who executed the Certificate) manually countersigns the Certificate. The
signature shall be conclusive evidence that the Certificate has been executed and countersigned under this Agreement.

 

Section 5.02          
Form and Registration. No transfer of any Non-Registered Certificate shall be made unless that transfer is made
pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such registration or qualification. If a transfer (other
than one by the Depositor to an Affiliate thereof or by the Initial Purchasers to the Third Party Purchaser) is to be made in reliance
upon an exemption from the Securities Act, and under the applicable state securities laws, then the following subsections (a)-(d)
shall apply.

 

(a)           Each
Class of the Non-Registered Certificates sold to institutions that are non-United States Securities Persons in Offshore
Transactions in reliance on Regulation S under the Act shall initially be represented by a temporary book-entry certificate
in definitive, fully registered form without interest coupons, substantially in the applicable form set forth as an exhibit hereto
(each a “Temporary Regulation S Book-Entry Certificate”), which shall be deposited on the Closing Date
on behalf of the purchasers of the Non-Registered Certificates represented thereby with the Certificate Registrar, at its
principal trust office, as custodian, for the Depository, and registered in the name of the Depository or the nominee of the Depository
for the account of designated agents holding on behalf of Euroclear and/or Clearstream. Prior to the expiration of the 40-day
period commencing on the later of the commencement of the offering and the Closing Date (the “Restricted Period”),
beneficial interests in each Temporary Regulation S Book-Entry Certificate may be held only through Euroclear or Clearstream.
After the expiration of the Restricted Period, a beneficial interest in a Temporary Regulation S Book-Entry Certificate may
be exchanged for an interest in the related Regulation S Book-Entry Certificate in the applicable form set forth as an exhibit
hereto in accordance with the procedures set forth in Section 5.03(f). During the Restricted Period, distributions due
in respect of a beneficial interest in a Temporary Regulation S Book-Entry Certificate shall only be made upon delivery to
the Certificate Registrar by Euroclear or Clearstream, as applicable, of a Non-U.S. Beneficial Ownership Certification.

 

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After
the expiration of the Restricted Period, distributions due in respect of any beneficial interests in a Temporary Regulation S
Book-Entry Certificate shall not be made to the holders of such beneficial interests unless exchange for a beneficial interest
in the Regulation S Book-Entry Certificate of the same Class is improperly withheld or refused. The aggregate Certificate
Balance of a Temporary Regulation S Book-Entry Certificate or a Regulation S Book-Entry Certificate may from time to time
be increased or decreased by adjustments made on the records of the Certificate Registrar, as custodian for the Depository, as
hereinafter provided;

 

On the Closing Date,
the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate Administrator shall
deliver to the Certificate Registrar the Regulation S Book-Entry Certificates, which shall be held by the Certificate Registrar
for purposes of effecting the exchanges contemplated by the preceding paragraph. Wells Fargo Bank, National Association is hereby
initially appointed the Authenticating Agent with the power to act, on the Trustee’s behalf, in the authentication and delivery
of the Certificates in connection with transfers and exchanges as herein provided. If Wells Fargo Bank, National Association is
removed as Certificate Administrator, then Wells Fargo Bank, National Association shall be terminated as Authenticating Agent.
If the Authenticating Agent is terminated, the Trustee shall appoint a successor authenticating agent, which may be the Trustee
or an Affiliate thereof.

 

(b)         
Certificates of each Class of Non-Registered Certificates (other than any Risk Retention Certificates during the Transfer
Restriction Period) offered and sold to Qualified Institutional Buyers in reliance on Rule 144A shall be represented by Rule 144A
Book-Entry Certificates, which shall be deposited with the Certificate Registrar or an agent of the Certificate Registrar,
as custodian for the Depository, and registered in the name of the Depository or a nominee of the Depository. The aggregate Certificate
Balance of a Rule 144A Book-Entry Certificate may from time to time be increased or decreased by adjustments made on the
records of the Certificate Registrar, as custodian for the Depository, as hereinafter provided.

 

(c)          
Certificates of each Class of Non-Registered Certificates that are initially offered and sold to investors that are
Institutional Accredited Investors that are not Qualified Institutional Buyers (the “Non-Book Entry Certificates”)
shall be in the form of Definitive Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall
be registered in the name of such investors or their nominees by the Certificate Registrar who shall deliver the certificates for
such Non-Book Entry Certificates to the respective beneficial owners or owners. For the avoidance of doubt, the Class R Certificates
shall only be in the form of Definitive Certificates, and the Risk Retention Certificates shall be issued in the form of Definitive
Certificates at all times during the Transfer Restriction Period.

 

(d)          
Owners of beneficial interests in Book-Entry Certificates of any Class shall not be entitled to receive physical delivery
of certificated Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is
no longer willing or able to discharge properly its responsibilities as depository with respect to the Book-Entry Certificates
of such Class or ceases to be a Clearing Agency, and the Certificate Registrar and the Depository are unable to locate a qualified
successor within ninety (90) days of such notice or (ii) the Trustee has instituted or has been directed to institute
any judicial proceeding to enforce the rights of the Holders of such Class and the Trustee has been advised by counsel that in
connection with such proceeding it is necessary or appropriate for the Certificate Registrar to obtain possession of the

 

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Certificates
of such Class; provided, however, that under no circumstances will certificated Non-Registered Certificates be
issued to beneficial owners of a Temporary Regulation S Book-Entry Certificate. Upon notice of the occurrence of any of the
events described in clause (i) or (ii) above with respect to any Certificates of a Class that are in the form of Book-Entry
Certificates and upon surrender by the Depository of any Book-Entry Certificate of such Class and receipt from the Depository
of instructions for re-registration, the Certificate Registrar shall issue Certificates of such Class in the form of Definitive
Certificates (bearing, in the case of a Definitive Certificate issued for a Rule 144A Book-Entry Certificate, the same
legends regarding transfer restrictions borne by such Book-Entry Certificate), and thereafter the Certificate Registrar shall
recognize the Holders of such Definitive Certificates as Certificateholders under this Agreement. Unless and until Definitive Certificates
are issued in respect of a Class of Book-Entry Certificates, beneficial ownership interests in such Class of Certificates will
be maintained and transferred on the book entry records of the Depository and Depository Participants, and all references to actions
by Holders of such Class of Certificates will refer to action taken by the Depository upon instructions received from the related
registered Holders of Certificates through the Depository Participants in accordance with the Depository’s procedures and,
except as otherwise set forth herein, all references herein to payments, notices, reports and statements to Holders of such Class
of Certificates will refer to payments, notices, reports and statements to the Depository or its nominee as the registered Holder
thereof, for distribution to the related registered Holders of Certificates through the Depository Participants in accordance with
the Depository’s procedures.

 

(e)          
From and after the Closing Date and during the Transfer Restriction Period, the Risk Retention Certificates shall only be
held as Definitive Certificates and shall be held in the Retained Certificate Safekeeping Account by the Certificate Administrator
(and the Retaining Party’s respective interest shall be tracked in the form of an entry in the Certificate Administrator’s
trust accounting system under the Retained Certificate Safekeeping Account), as custodian for, and for the benefit of, the Holder
of the related Certificate. The Certificate Administrator shall hold such Risk Retention Certificates in safekeeping and shall
release the same only upon receipt of written instructions from the holder of the Risk Retention Certificates and the Retaining
Sponsor, indicating whether such release is in connection with the termination of the Transfer Restriction Period or in connection
with the Retaining Party’s intent to transfer pursuant to Section 5.03(i), in each case, in accordance with any additional
authentication procedures as may be utilized by the Certificate Administrator and in accordance with this Agreement.  After
its release of the Risk Retention Certificates in accordance with the provisions of this Agreement, the Certificate Administrator
shall have no obligation or liability with respect to the safekeeping of the Risk Retention Certificates. There shall be, and hereby
is, established by the Certificate Administrator an account which will be designated the “Retained Certificate Safekeeping
Account” and in which the Risk Retention Certificates shall be held and which shall be governed by and subject to this Agreement.
In addition, on and after the date hereof, the Certificate Administrator may establish any number of subaccounts to the Retained
Certificate Safekeeping Account for the Retaining Party. Such subaccounts shall be marked or evidenced as being for the benefit
of the Holder of the related Certificate. The Risk Retention Certificates to be delivered in physical form to the Certificate Administrator
shall be delivered as set forth herein. No amounts distributable to the holders of the Risk Retention Certificates shall be remitted
to the Retained Certificate Safekeeping Account, but shall be remitted directly to the Retaining Party in accordance with written
instructions provided separately by the Retaining Party to the Certificate Administrator on the Closing Date. Under no circumstances
by virtue of safekeeping the Risk

 

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Retention Certificates shall the Certificate Administrator be obligated to bring legal action
or institute proceedings against any person on behalf of the Retaining Party. During the Transfer Restriction Period and for such
longer time as the Retaining Party may request, the Certificate Administrator shall hold the Definitive Certificate representing
the Risk Retention Certificates at the below location, or any other location; provided the Certificate Administrator has given
notice to the Retaining Party of such new location:

 

Wells Fargo Bank, N.A.

Attn: Security Control and Transfer (SCAT) – MAC N9345-010

425 E Hennepin Avenue

Minneapolis, MN 55414

 

On the Closing Date,
and upon completion of each transfer of the Risk Retention Certificates during the Transfer Restriction Period, the Certificate
Administrator shall deliver written confirmation to the Depositor, the Retaining Sponsor and the Retaining Party substantially
in the form of Exhibit TT hereto evidencing its receipt of the Risk Retention Certificates.

 

The Certificate Administrator
shall make available to the Retaining Party its respective account information as mutually agreed upon by the Certificate Administrator
and the Retaining Party, and in accordance with the Certificate Administrator’s policies and procedures. Any transfer of
a Risk Retention Certificate shall be subject to Section 5.03(g) and Section 5.03(i).

 

For the sake of clarity,
after the Transfer Restriction Period, the Risk Retention Certificates may be transferred at the direction of the Holder thereof
in the same manner prescribed herein for other Certificates, subject to Section 5.03(i).

 

Section 5.03       
Registration of Transfer and Exchange of Certificates. (a) The Certificate Administrator shall keep or cause
to be kept at the Corporate Trust Office books (the “Certificate Register”) in which, subject to such reasonable
regulations as it may prescribe, the Certificate Administrator shall provide for the registration of Certificates and of transfers
and exchanges of Certificates as herein provided (the Certificate Administrator, in such capacity, being the “Certificate
Registrar”). In such capacities, the Certificate Administrator shall be responsible for, among other things, (i) maintaining
the Certificate Register and a record of the aggregate holdings of Certificates of each Class of Non-Registered Certificates
represented by a Temporary Regulation S Book-Entry Certificate, a Regulation S Book-Entry Certificate and a Rule 144A
Book-Entry Certificate and accepting Certificates for exchange and registration of transfer, (ii) holding the Risk Retention
Certificates (during such times as required hereunder) as Definitive Certificates on behalf of each Holder of such Certificate
and (iii) transmitting to the Depositor, the Master Servicer and the Special Servicer any notices from the Certificateholders.
No fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of Transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in this Section 5.03.

 

(b)          
Subject to the restrictions on transfer set forth in this Article V, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

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(c)          
Rule 144A Book-Entry Certificate to Temporary Regulation S Book-Entry Certificate. If a holder of a beneficial
interest in the Rule 144A Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository
wishes at any time during the Restricted Period to exchange its interest in such Rule 144A Book-Entry Certificate for
an interest in the Temporary Regulation S Book-Entry Certificate of the same Class, or to transfer its interest in such Rule 144A
Book-Entry Certificate to a Person who is required to take delivery thereof in the form of an interest in the Temporary Regulation
S Book-Entry Certificate of the same Class, such holder may, subject to the rules and procedures of the Depository, exchange
or cause the exchange of such interest for an equivalent beneficial interest in such Temporary Regulation S Book-Entry Certificate.
Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.07, of (1) instructions
given in accordance with the Depository’s procedures from a Depository Participant directing the Certificate Registrar to
credit, or cause to be credited, a beneficial interest in the Temporary Regulation S Book-Entry Certificate in an amount equal
to the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged, (2) a written order given in
accordance with the Depository’s procedures containing information regarding the Euroclear or Clearstream account to be credited
with such increase and the name of such account and (3) a certificate in the form of Exhibit I hereto given by
the holder of such beneficial interest stating that the transfer of such interest has been made in compliance with the transfer
restrictions applicable to the Book-Entry Certificates and pursuant to and in accordance with Regulation S, then the Certificate
Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Book-Entry
Certificate and to increase, or cause to be increased, the Certificate Balance of the Temporary Regulation S Book-Entry Certificate
by the aggregate Certificate Balance of the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged,
to credit or cause to be credited to the account of the Person specified in such instructions (who shall be the agent member of
Euroclear or Clearstream, or both) a beneficial interest in the Temporary Regulation S Book-Entry Certificate equal to the
reduction in the Certificate Balance of the Rule 144A Book-Entry Certificate, and to debit, or cause to be debited, from
the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Book-Entry Certificate
that is being exchanged or transferred.

 

(d)         
Rule 144A Book-Entry Certificate to Regulation S Book-Entry Certificate. If a holder of a beneficial interest
in the Rule 144A Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository wishes
at any time following the Restricted Period to exchange its interest in such Rule 144A Book-Entry Certificate for an interest
in the Regulation S Book-Entry Certificate of the same Class, or to transfer its interest in such Rule 144A Book-Entry
Certificate to a Person who is required to take delivery thereof in the form of an interest in a Regulation S Book-Entry Certificate,
such holder may, subject to the rules and procedures of the Depository, exchange, or cause the exchange of, such interest for an
equivalent beneficial interest in such Regulation S Book-Entry Certificate. Upon receipt by the Certificate Registrar, as registrar,
at its office designated in Section 5.07, of (1) instructions given in accordance with the Depository’s procedures
from a Depository Participant directing the Certificate Registrar to credit or cause to be credited a beneficial interest in the
Regulation S Book-Entry Certificate in an amount equal to the beneficial interest in the Rule 144A Book-Entry
Certificate to be exchanged, (2) a written order given in accordance with the Depository’s procedures containing information
regarding the participant account of the Depository to be credited with such increase and (3) a certificate in the form of
Exhibit J hereto given by the holder of such beneficial interest stating (A) that the transfer of such interest
has been made in compliance

 

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with the transfer restrictions applicable to the Book-Entry Certificates and pursuant to and in
accordance with Regulation S, or (B) that the transferee is otherwise entitled to hold its interest in the applicable Certificates
in the form of an interest in the Regulation S Book-Entry Certificate, without any registration of such Certificates under
the Act (in which case such certificate shall enclose an Opinion of Counsel to such effect and such other documents as the Certificate
Registrar may reasonably require), then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced,
the Certificate Balance of the Rule 144A Book-Entry Certificate and to increase, or cause to be increased, the Certificate
Balance of the Regulation S Book-Entry Certificate by the aggregate Certificate Balance of the beneficial interest in the Rule 144A
Book-Entry Certificate to be exchanged, to credit or cause to be credited to the account of the Person specified in such instructions
a beneficial interest in the Regulation S Book-Entry Certificate equal to the reduction in the Certificate Balance of the Rule 144A
Book-Entry Certificate, and to debit, or cause to be debited, from the account of the Person making such exchange or transfer
the beneficial interest in the Rule 144A Book-Entry Certificate that is being exchanged or transferred.

 

(e)          
Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to Rule 144A Book-Entry
Certificate. If a holder of a beneficial interest in a Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry
Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest
in such Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate for an interest in the Rule 144A
Book-Entry Certificate of the same Class, or to transfer its interest in such Temporary Regulation S Book-Entry Certificate
or Regulation S Book-Entry Certificate to a Person who is required to take delivery thereof in the form of an interest in the
Rule 144A Book-Entry Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream, as
the case may be, and the Depository, exchange or cause the exchange of such interest for an equivalent beneficial interest in the
Rule 144A Book-Entry Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar, at its office
designated in Section 5.07, of (1) instructions from Euroclear or Clearstream, if applicable, and the Depository, directing
the Certificate Registrar, as registrar, to credit or cause to be credited a beneficial interest in the Rule 144A Book-Entry
Certificate equal to the beneficial interest in the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry
Certificate to be exchanged, such instructions to contain information regarding the participant account with the Depository to
be credited with such increase, (2) with respect to a transfer of an interest in the Regulation S Book-Entry Certificate,
information regarding the participant account of the Depository to be debited with such decrease and (3) with respect to a
transfer of an interest in the Temporary Regulation S Book-Entry Certificate for an interest in the Rule 144A Book-Entry
Certificate (i) during the Restricted Period, a certificate in the form of Exhibit K hereto given by the holder
of such beneficial interest and stating that the Person transferring such interest in the Temporary Regulation S Book-Entry
Certificate reasonably believes that the Person acquiring such interest in the Rule 144A Book-Entry Certificate is a Qualified
Institutional Buyer or (ii) after the Restricted Period, an Investment Representation Letter in the form of Exhibit C
attached hereto from the transferee to the effect that such transferee is a Qualified Institutional Buyer (an “Investment
Representation Letter”) and is obtaining such beneficial interest in a transaction meeting the requirements of Rule 144A,
then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the
Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate and to increase, or cause to be

 

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increased,
the Certificate Balance of the Rule 144A Book-Entry Certificate by the aggregate Certificate Balance of the beneficial
interest in the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to be exchanged, and
the Certificate Registrar shall instruct the Depository, concurrently with such reduction, to credit, or cause to be credited,
to the account of the Person specified in such instructions, a beneficial interest in the Rule 144A Book-Entry Certificate
equal to the reduction in the Certificate Balance of the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry
Certificate and to debit, or cause to be debited, from the account of the Person making such transfer the beneficial interest in
the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate that is being transferred.

 

(f)          
Temporary Regulation S Book-Entry Certificate to Regulation S Book-Entry Certificate. Interests in a Temporary Regulation
S Book-Entry Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as the case may
be, a certificate (a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear or Clearstream,
as applicable, has received a certificate substantially in the form of Exhibit L hereto from the holder of a beneficial
interest in such Temporary Regulation S Book-Entry Certificate, shall be exchanged after the Restricted Period, for interests
in the Regulation S Book-Entry Certificate of the same Class. The Certificate Registrar shall effect such exchange by delivering
to the Depository for credit to the respective accounts of such holders, a duly executed and authenticated Regulation S Book-Entry
Certificate, representing the aggregate Certificate Balance of interests in the Temporary Regulation S Book-Entry Certificate
initially exchanged for interests in the Regulation S Book-Entry Certificate. The delivery to the Certificate Registrar by
Euroclear or Clearstream of the certificate or certificates referred to above may be relied upon by the Depositor and the Certificate
Registrar as conclusive evidence that the certificate or certificates referred to therein has or have been delivered to Euroclear
or Clearstream pursuant to the terms of this Agreement and the Temporary Regulation S Book-Entry Certificate. Upon any exchange
of interests in the Temporary Regulation S Book-Entry Certificate for interests in the Regulation S Book-Entry Certificate,
the Certificate Registrar shall endorse the Temporary Regulation S Book-Entry Certificate to reflect the reduction in the Certificate
Balance represented thereby by the amount so exchanged and shall endorse the Regulation S Book-Entry Certificate to reflect
the corresponding increase in the amount represented thereby. Until so exchanged in full and except as provided therein, the Temporary
Regulation S Book-Entry Certificate, and the Certificates evidenced thereby, shall in all respects be entitled to the same
benefits under this Agreement as the Regulation S Book-Entry Certificate and Rule 144A Book-Entry Certificate authenticated
and delivered hereunder.

 

(g)         
Non-Book Entry Certificate to Book-Entry Certificate. If a holder of a Non-Book Entry Certificate (other than
(a) a Risk Retention Certificate during the Transfer Restriction Period or (b) a Class R Certificate) wishes at any time to exchange
its interest in such Non-Book Entry Certificate for an interest in a Book-Entry Certificate of the same Class, or to transfer
all or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery thereof in the form of an interest
in a Book-Entry Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream, if applicable,
and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial interest
in the appropriate Book-Entry Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar, at its
office designated in Section 5.07, of (1) such Non-Book Entry Certificate, duly

 

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endorsed as provided herein, (2) instructions
from such holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a beneficial interest in
the applicable Book-Entry Certificate equal to the portion of the Certificate Balance of the Non-Book Entry Certificate
to be exchanged, such instructions to contain information regarding the participant account with the Depository to be credited
with such increase and (3) a certificate in the form of Exhibit M hereto (in the event that the applicable Book-Entry
Certificate is the Temporary Regulation S Book-Entry Certificate), in the form of Exhibit N hereto (in the event
that the applicable Book-Entry Certificate is the Regulation S Book-Entry Certificate) or in the form of Exhibit O
hereto (in the event that the applicable Book-Entry Certificate is the Rule 144A Book-Entry Certificate), then the
Certificate Registrar, as registrar, shall cancel, or cause to be canceled, all or part of such Non-Book Entry Certificate,
shall, if applicable, execute, authenticate and deliver to the transferor a new Non-Book Entry Certificate equal to the aggregate
Certificate Balance of the portion retained by such transferor and shall instruct the Depository to increase, or cause to be increased,
such Book-Entry Certificate by the aggregate Certificate Balance of the portion of the Non-Book Entry Certificate to be
exchanged and to credit, or cause to be credited, to the account of the Person specified in such instructions a beneficial interest
in the applicable Book-Entry Certificate equal to the Certificate Balance of the portion of the Non-Book Entry Certificate
so canceled. Upon the written direction of the Depositor (which may be by email to cts.cmbs.bond.admin@wellsfargo.com) or its Affiliate,
the Certificate Registrar shall execute any instrument as may be reasonably required by the Depository to effect such exchange.

 

(h)         
Non-Book Entry Certificates on Initial Issuance Only. Subject to the issuance of Definitive Certificates, if and when
permitted by Section 5.02(d), and subject to the issuance and transfer of a Risk Retention Certificate during the Transfer
Restriction Period in accordance with Section 5.03(i), no Non-Book Entry Certificate shall be issued to a transferee
of an interest in any Rule 144A Book-Entry Certificate, Temporary Regulation S Book-Entry Certificate or Regulation
S Book-Entry Certificate or to a transferee of a Non-Book Entry Certificate (or any portion thereof).

 

(i)            Transfers
of Risk Retention Certificates. During a Transfer Restriction Period, if a Transfer of any Risk Retention Certificate after
the Closing Date is to be made, then the following documents shall be delivered to the Certificate Administrator, who
shall facilitate such transfer in conjunction with the Certificate Registrar and shall refuse to register such transfer
unless it receives (and, upon receipt, may conclusively rely upon) (i) instruction from the Certificateholder desiring
to effect such transfer and the Retaining Sponsor pursuant to Section 5.02(e) directing the Certificate Administrator
to release such Risk Retention Certificate from the Retained Certificate Safekeeping Account in connection with a transfer of
such Risk Retention Certificate, (ii) a certification from such Certificateholder’s prospective Transferee
substantially in the form attached hereto as Exhibit D-3, which such certification must be countersigned by
the Retaining Sponsor, (iii) a certification from the Certificateholder desiring to effect such transfer substantially
in the form attached hereto as Exhibit D-4, which such certification must be countersigned by the Retaining
Sponsor, (iv) an IRS Form W-9 completed by the prospective Transferee and (v) wiring instructions and contact
information of the prospective Transferee.  After the Transfer Restriction Period, and for so long as the Risk Retention
Certificate, as applicable, is not held in safekeeping, the Certificate Registrar shall refuse to register any Transfer
unless it receives (x) a certification from such Certificateholder’s prospective Transferee substantially in the
form attached hereto as Exhibit D-3 and (y) a certification from the

 

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  Certificateholder
desiring to effect such transfer substantially in the form attached hereto as Exhibit D-4; provided that after
the Transfer Restriction Period, the countersignature of the Retaining Sponsor to such certifications shall not be required. Upon
receipt of the foregoing certifications, the Certificate Registrar shall, subject to Section 5.02(e) and Section 5.03(a),
reflect such Risk Retention Certificate, in the name of the prospective Transferee. For the avoidance of doubt, in no event shall
a Risk Retention Certificate be held as a Book-Entry Certificate during the Transfer Restriction Period.

 

(j)           
Other Exchanges. In the event that a Book-Entry Certificate is exchanged for a Definitive Certificate, such Certificates
may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of subsections (c)
through (f) above (including the certification requirements intended to ensure that such transfers comply with Rule 144A or
Regulation S under the Act, at the case may be) and such other procedures as may from time to time be adopted by the Certificate
Registrar.

 

(k)           Restricted Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates, transfers
of interests in the Temporary Regulation S Book-Entry Certificate to U.S. persons (as defined in Regulation S) shall be
limited to transfers made pursuant to the provisions of subsection (e) above.

 

(l)           
If Non-Registered Certificates are issued upon the transfer, exchange or replacement of Certificates bearing a restrictive
legend relating to compliance with the Act, or if a request is made to remove such legend on Certificates, the Non-Registered
Certificates so issued shall bear the restrictive legend, or such legend shall not be removed, as the case may be, unless there
is delivered to the Certificate Registrar such satisfactory evidence, which may include an Opinion of Counsel that neither such
legend nor the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions
of Rule 144A or Regulation S under the Act. Upon provision of such satisfactory evidence, the Certificate Registrar shall
authenticate and deliver Certificates that do not bear such legend.

 

(m)         
All Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the
Certificate Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(n)          
With respect to the ERISA Restricted Certificates, no sale, transfer, pledge or other disposition (other than any initial
transfer to the Initial Purchasers or, with respect to the Risk Retention Certificates, the Retaining Party) of any such Certificate
shall be made unless the Trustee and Certificate Administrator shall have received either (i) a representation letter from
the proposed purchaser or transferee of such Certificate substantially in the form of Exhibit F-1 attached hereto,
to the effect that such proposed purchaser or transferee is not and will not be (A) an employee benefit plan subject to the
fiduciary responsibility provisions of ERISA or a plan subject to Section 4975 of the Code, a governmental plan (as defined
in Section 3(32) of ERISA) or any other plan subject to any federal, state or local law (“Similar Law”)
which is, to a material extent, similar to the foregoing provisions of ERISA or the Code (each, a “Plan”) or
(B) a person acting on behalf of or using the assets of any such Plan (including an entity whose underlying assets include
Plan assets by reason of investment in the entity by such Plan and the application of Department of Labor Regulation § 2510.3-101,
as modified by Section 3(42) of ERISA), other

 

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than an insurance company using the assets of its “insurance company general
account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60) under circumstances
whereby the purchase and holding of such Certificates by such insurance company will be exempt from the prohibited transaction
provisions of ERISA and the Code under Sections I and III of Prohibited Transaction Class Exemption 95-60 (or, in the case
of a Plan subject to Similar Law, where the purchase, holding and disposition by such Plan will not constitute or result in a non-exempt
violation of applicable Similar Law) or (ii) if such Certificate is presented for registration in the name of a purchaser
or transferee that is any of the foregoing, an Opinion of Counsel in form and substance satisfactory to the Trustee, the Certificate
Administrator and the Depositor to the effect that the acquisition and holding of such Certificate by such purchaser or transferee
will not constitute or result in a non-exempt “prohibited transaction” within the meaning of ERISA or Section 4975
of the Code or a non-exempt violation of any Similar Law, and will not subject the Trustee, the Certificate Administrator,
the Certificate Registrar, the Master Servicer, the Special Servicer, any sub-servicer, the Initial Purchasers, the Underwriters,
the Operating Advisor, the Asset Representations Reviewer or the Depositor to any obligation or liability (including obligations
or liabilities under ERISA, Section 4975 of the Code or any such Similar Law) in addition to those set forth in the Agreement.
The Trustee and Certificate Administrator shall not register the sale, transfer, pledge or other disposition of any ERISA Restricted
Certificate unless the Trustee and Certificate Administrator have received either the representation letter described in clause (i)
above or the Opinion of Counsel described in clause (ii) above. The costs of any of the foregoing representation letters or
Opinions of Counsel shall not be borne by any of the Depositor, the Master Servicer, the Special Servicer, any sub-servicer, the
Trustee, the Certificate Administrator, the Certificate Registrar, the Initial Purchasers, the Underwriters, the Operating Advisor,
the Asset Representations Reviewer or the Trust. Each Certificate Owner of an ERISA Restricted Certificate shall be deemed to represent
that it is not and will not become a Person specified in clauses (i)(A) or (i)(B) above. Any transfer, sale, pledge or other
disposition of any ERISA Restricted Certificates that would constitute or result in a prohibited transaction under ERISA, Section 4975
of the Code or any Similar Law, or would otherwise violate the provisions of this Section 5.03(n) shall be deemed absolutely
null and void ab initio, to the extent permitted under applicable law.

 

(o)          No Class R Certificate may be purchased by or transferred to any prospective purchaser or transferee that is or will be
a Plan, or any person acting on behalf of a Plan or using the assets of a Plan (including an entity whose underlying assets include
Plan assets by reason of investment in the entity by such Plan and the application of Department of Labor Regulation § 2510.3-101,
as modified by Section 3(42) of ERISA) to purchase such Class R Certificate. Each prospective transferee of a Class R Certificate
shall deliver to the transferor and the Certificate Administrator a representation letter, substantially in the form of Exhibit F-2,
stating that the prospective transferee is not and will not become a Plan or a person acting on behalf of or using the assets of
a Plan. Each Holder of a Class R Certificate shall be deemed to represent that it is not and will not become a Person specified
in the second preceding sentence. Any attempted or purported transfer in violation of these transfer restrictions shall be null
and void ab initio and shall vest no rights in any purported transferee and shall not relieve the transferor of any obligations
with respect to the applicable Certificates.

 

(p)          Each Person who has or acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such
Residual Ownership Interest to have agreed to be

 

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bound by the following provisions and the rights of each Person acquiring any
Residual Ownership Interest are expressly subject to the following provisions:

 

(i)          
Each Person acquiring or holding any Residual Ownership Interest shall be a Permitted Transferee and shall not acquire or
hold such Residual Ownership Interest as agent (including a broker, nominee or other middleman) on behalf of any Person that is
not a Permitted Transferee. Any such Person shall promptly notify the Certificate Registrar of any change or impending change in
its status (or the status of the beneficial owner of such Residual Ownership Interest) as a Permitted Transferee. Any acquisition
described in the first sentence of this Section 5.03(p) by a Person who is not a Permitted Transferee or by a Person who
is acting as an agent of a Person who is not a Permitted Transferee shall be void ab initio and of no effect, and the immediately
preceding owner who was a Permitted Transferee shall be restored to registered and beneficial ownership of the Residual Ownership
Interest as soon and as fully as possible.

 

(ii)          
No Residual Ownership Interest may be Transferred, and no such Transfer shall be registered in the Certificate Register,
without the express written consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the Transfer,
and such proposed Transfer shall not be effective, without such consent with respect thereto. In connection with any proposed Transfer
of any Residual Ownership Interest, the Certificate Registrar shall, as a condition to such consent, (x) require the proposed
transferee to deliver, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor, an
affidavit in substantially the form attached as Exhibit D-1 (a “Transferee Affidavit”) of the
proposed transferee (A) that such proposed transferee is a Permitted Transferee and (B) stating that (1) the proposed
transferee historically has paid its debts as they have come due and intends to do so in the future, (2) the proposed transferee
understands that, as the holder of a Residual Ownership Interest, it may incur tax liabilities in excess of cash flows generated
by the residual interest, (3) the proposed transferee intends to pay taxes associated with holding the Residual Ownership
Interest as they become due, (4) the proposed transferee will not cause income with respect to the Residual Ownership Interest
to be attributable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of
such proposed transferee or any other U.S. Tax Person, (5) the proposed transferee will not transfer the Residual Ownership
Interest to any Person that does not provide a Transferee Affidavit or as to which the proposed transferee has actual knowledge
that such Person is not a Permitted Transferee or is acting as an agent (including a broker, nominee or other middleman) for a
Person that is not a Permitted Transferee, and (6) the proposed transferee expressly agrees to be bound by and to abide by
the provisions of this Section 5.03(o) and (y) other than in connection with the initial issuance of a Class R Certificate,
require a statement from the proposed transferor substantially in the form attached as Exhibit D-2 (the “Transferor
Letter”), that the proposed transferor has no actual knowledge that the proposed transferee is not a Permitted Transferee
and has no actual knowledge or reason to know that the proposed transferee’s statements in its Transferee Affidavit are false.

 

(iii)         
Notwithstanding the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible
Officer of the Certificate Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no Transfer
to

 

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such proposed transferee shall be effected and such proposed Transfer shall not be registered on the Certificate Register; provided,
however, that the Certificate Registrar shall not be required to conduct any independent investigation to determine whether
a proposed transferee is a Permitted Transferee. Upon notice to the Certificate Registrar that there has occurred a Transfer to
any Person that is a Disqualified Organization or an agent thereof (including a broker, nominee or middleman) in contravention
of the foregoing restrictions, and in any event not later than sixty (60) days after a request for information from the transferor
of such Residual Ownership Interest or such agent, the Certificate Registrar agrees to furnish to the Internal Revenue Service
and the transferor of such Residual Ownership Interest or such agent such information necessary to the application of Section 860E(e)
of the Code as may be required by the Code, including, but not limited to, the present value of the total anticipated excess inclusions
with respect to such Class R Certificate (or portion thereof) for periods after such Transfer. At the election of the Certificate
Registrar, the Certificate Registrar may charge a reasonable fee for computing and furnishing such information to the transferor
or to such agent referred to above; provided, however, that such Persons shall in no event be excused from furnishing
such information.

 

(q)          The Class R Certificates may only be transferred to and owned by Qualified Institutional Buyers.

 

(r)           Notwithstanding
any other provision of this Agreement, the Certificate Administrator shall comply with all federal withholding requirements respecting
payments to Certificateholders and other payees of interest or original issue discount that the Certificate Administrator reasonably
believes are applicable under the Code. The consent of Certificateholders or payees shall not be required for such withholding,
and the Certificateholders shall be required to provide the Certificate Administrator with such forms and such other information
reasonably required by the Certificate Administrator. If the Certificate Administrator does withhold any amount from interest
or original issue discount payments or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements,
the Certificate Administrator shall indicate the amount withheld to such Person. Such amounts shall be deemed to have been distributed
to such Persons for all purposes of this Agreement.

 

(s)          
Each Certificate Owner of a Non-Registered Certificate shall be deemed to have represented and agreed as follows:

 

(i)          
Such Certificate Owner (A)(i) is a Qualified Institutional Buyer, (ii) is acquiring such Non-Registered Certificate
for its own account or for the account of another Qualified Institutional Buyer, as the case may be, and (iii) is aware that the
sale of the Non-Registered Certificates to it is being made in reliance on Rule 144A, (B)(i)(except with respect to the Class R
Certificates) is an Institutional Accredited Investor that is not a Qualified Institutional Buyer and that is purchasing such Non-Registered
Certificate for its own account or for the account of another Institutional Accredited Investor, and (ii) is not acquiring
such Non-Registered Certificate with a view to any resale or distribution of such Non-Registered Certificate other than in accordance
with the restrictions set forth in this Section 5.03, or (C) (except with respect to the Class R Certificates) is an
institution that

 

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is not a United States Securities Person, and is purchasing such Non-Registered Certificate in an Offshore Transaction.

 

(ii)          
Such Certificate Owner understands that the Non-Registered Certificates have not been and will not be registered or qualified
under the Securities Act or any state or foreign securities laws and may not be reoffered, resold, pledged or otherwise transferred
except (A) to a person whom the purchaser reasonably believes is a Qualified Institutional Buyer in a transaction meeting
the requirements of Rule 144A, (B) (except with respect to the Class R Certificates) to an institution that is a non-United
States Securities Person in an Offshore Transaction in accordance with Rule 903 or 904 of Regulation S, or (C) (except with
respect to the Class R Certificates) to an Institutional Accredited Investor that is not a Qualified Institutional Buyer, and in
each case, in accordance with any applicable federal securities laws and any applicable securities laws of any state of the United
States or any other jurisdiction.

 

(iii)         
Such Certificate Owner understands that, if the purchaser of a Non-Registered Certificate is not a Qualified Institution
Buyer or a non-United States Securities Person, the Non-Registered Certificates purchased by such purchaser may not be transferred
in book-entry form and may be transferred in physical form only in compliance with the restrictions in clause (ii)(C) above
and no such transfer of the Non-Registered Certificates owned by such Certificate Owner will be permitted unless the purchaser
provides certification that the transfer complies with such restrictions, as described in this Section 5.03.

 

(iv)        
Such Certificate Owner is duly authorized to purchase the Non-Registered Certificates and its purchase of investments having
the characteristics of the Non-Registered Certificate is authorized under, and not directly or indirectly in contravention of,
any law, rule, regulation, charter, trust instrument or other operative document, investment guidelines or list of permissible
or impermissible investments that is applicable to such Certificate Owner.

 

(t)          
Each beneficial owner of a Certificate or any interest therein that is a Plan subject to ERISA or Section 4975 of the
Code (an “ERISA Plan”) or is acting on behalf of or using the assets of such an ERISA Plan, as a condition of
its purchase of such Certificate, will be deemed to have represented and warranted that (i) none of the Depositor, Mortgage Loan
Sellers, the Trust, any Underwriter, any Initial Purchaser, the Trustee, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor or the Asset Representations Reviewer, or any of their respective affiliated entities, has
provided any investment recommendation or investment advice on which the ERISA Plan or the fiduciary making the investment decision
for the ERISA Plan has relied in connection with the decision to acquire Certificates, and they are not otherwise acting as a fiduciary
(within the meaning of Section 3(21) of ERISA or Section 4975(e)(3) of the Code) to the ERISA Plan in connection with
the ERISA Plan’s acquisition of Certificates (unless an applicable prohibited transaction exemption is available (all of
the conditions of which are satisfied) to cover the purchase and holding of the Certificates or the transaction is not otherwise
prohibited), and (ii) the ERISA Plan fiduciary making the decision to acquire the Certificates is exercising its own independent
judgment in evaluating the investment in the Certificates.

 

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Section 5.04           
Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate
and (b) there is delivered to the Certificate Registrar such security or indemnity as may be required by it to save it harmless,
then, in the absence of actual notice to the Certificate Registrar that such Certificate has been acquired by a bona fide
purchaser, the Certificate Registrar shall execute, authenticate and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Certificate, a new Certificate of like tenor and interest in the Trust. In connection with the issuance
of any new Certificate under this Section 5.04, the Certificate Registrar may require the payment of a sum sufficient to
cover any expenses (including the fees and expenses of the Certificate Registrar) connected therewith. Any replacement Certificate
issued pursuant to this Section 5.04 shall constitute complete and indefeasible evidence of ownership in the Trust, as if
originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

 

Section 5.05           
Persons Deemed Owners. The Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and
the Certificate Registrar, and any agent of any of them, may treat the Person in whose name any Certificate is registered as the
owner of such Certificate for the purpose of receiving distributions as provided in this Agreement and for all other purposes whatsoever,
and none of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar or
any agent of any of them shall be affected by any notice to the contrary; provided, however, that to the extent that
a party to this Agreement responsible for distributing any report, statement or other information required to be distributed to
Certificateholders has been provided an Investor Certification, such party to this Agreement shall distribute such report, statement
or other information to such beneficial owner (or prospective transferee).

 

Section 5.06          
Access to List of Certificateholders’ Names and Addresses; Special Notices. (a) The Certificate Registrar
shall maintain in as current form as is reasonably practicable the most recent list available to it of the names and addresses
of the Certificateholders. If any Certificateholder that has provided an Investor Certification (i) requests in writing from
the Certificate Registrar a list of the names and addresses of Certificateholders, (ii) states that such Certificateholder
desires to communicate with other Certificateholders with respect to its rights under this Agreement or under the Certificates
and (iii) provides a copy of the communication which Certificateholder proposes to transmit, then the Certificate Registrar
shall, within ten (10) Business Days after the receipt of such request, furnish such Certificateholder (at such Certificateholder’s
sole cost and expense) a current list of the Certificateholders. In addition, upon written request to the Certificate Administrator
of any Certificateholder or Certificate Owner (if applicable) that has provided an Investor Certification, the Certificate Administrator
shall promptly notify such Certificateholder or Certificate Owner of the identity of the then-current Directing Certificateholder.
Every Certificateholder, by receiving and holding a Certificate, agrees that the Certificate Registrar shall not be held accountable
by reason of the disclosure of any such information as to the list of the Certificateholders hereunder, regardless of the source
from which information was derived. The Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the
Operating Advisor and the Depositor shall be entitled to a list of the names and addresses of Certificateholders from time to time
upon request therefor.

 

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(b)          (i)
The Certificate Administrator shall include in any Form 10-D any written request received in accordance with Section
11.04(a) prior to the Distribution Date to which the Form 10-D relates (and on or after the Distribution Date preceding
such Distribution Date) from a Certificateholder or Certificate Owner to communicate with other Certificateholders or Certificate
Owners related to Certificateholders or Certificate Owners exercising their rights under the terms of this Agreement. Any Form 10-D
containing such disclosure (a “Special Notice”) regarding the request to communicate shall include the following
and no more than the following (a) the name of the Certificateholder or Certificate Owner making the request, (b) the
date the request was received, (c) a statement to the effect that the Certificate Administrator has received such request,
stating that such Certificateholder or Certificate Owner is interested in communicating with other Certificateholders or Certificate
Owners with regard to the possible exercise of rights under this Agreement, and (d) a description of the method other Certificateholders
or Certificate Owners may use to contact the requesting Certificateholder or Certificate Owner. It is hereby understood that a
disclosure in substantially the following form shall be deemed to satisfy the requirements in the preceding sentence: “On
[date], the Certificate Administrator received from [name], a Certificateholder or Certificate Owner, a request to communicate
with other Certificateholders and Certificate Owners in the securitization transaction to which this report on Form 10-D
relates (the “Securitization”). The requesting Certificateholder or Certificate Owner is interested in communicating
with other Certificateholders and Certificate Owners with regard to the possible exercise of rights under the pooling and servicing
agreement governing the Securitization. Other Certificateholders and Certificate Owners may contact the requesting Certificateholder
or Certificate Owner at [telephone number], [email address] and/or [mailing address].”

 

(ii)          
In verifying the identity of any Certificateholder or Certificate Owner in connection with any request to communicate, (i) if
the Certificateholder or Certificate Owner is the holder of record with respect to any Certificate, the Certificate Administrator
shall not require any further verification or (ii) if the Certificateholder or Certificate Owner is not the holder of record
with respect to any Certificate, the Certificate Administrator shall require no more than (x) a written certification from
such Certificateholder or Certificate Owner that it is the beneficial owner of a Certificate and (y) one of the following
documents confirming ownership of such Certificate: a trade confirmation, an account statement, a letter from a broker-dealer
or another document acceptable to the Certificate Administrator that is similar to any of the foregoing documents). The Certificate
Administrator shall not have any obligation to verify the information provided by any Certificateholder or Certificate Owner in
any request to communicate and may rely on such information conclusively. Additionally, any expenses the Certificate Administrator
incurs in connection with any request to communicate will be paid by the Trust.

 

Section 5.07           
Maintenance of Office or Agency. The Certificate Registrar shall maintain or cause to be maintained an office or
offices or agency or agencies where Certificates may be surrendered for registration of transfer or exchange and where notices
and demands to or upon the Certificate Registrar in respect of the Certificates and this Agreement may be served. The Certificate
Registrar initially designates its office at 600 South 4th Street, 7th Floor, MAC N9300-070, Minneapolis, Minnesota 55479 as its
office for such purposes. The Certificate Registrar shall give prompt written notice to the Certificateholders and the Mortgagors
of any change in the location of the Certificate Register or any such office or agency.

 

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Section 5.08          
Appointment of Certificate Administrator. (a) Wells Fargo Bank, National Association is hereby initially appointed
Certificate Administrator in accordance with the terms of this Agreement. If the Certificate Administrator resigns or is terminated,
the Trustee shall appoint a successor certificate administrator which may be the Trustee or an Affiliate thereof to fulfill the
obligations of the Certificate Administrator hereunder which must satisfy the eligibility requirements set forth in Section
8.06.

 

(b)         
The Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon any resolution,
Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice,
request, consent, order, Appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed
or presented by the proper party or parties.

 

(c)          
The Certificate Administrator, at the expense of the Trust (but only if such amount constitutes “unanticipated expenses
of the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii)), may consult with counsel and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken or suffered or omitted by it hereunder in good faith and in accordance therewith.

 

(d)         
The Certificate Administrator shall not be personally liable for any action reasonably taken, suffered or omitted by it
in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement.

 

(e)         
The Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys shall not
relieve the Certificate Administrator of its duties or obligations hereunder.

 

(f)          
The Certificate Administrator shall not be responsible for any act or omission of the Trustee, the Master Servicer, the
Special Servicer or the Depositor.

 

Section 5.09           
[RESERVED].

 

Section 5.10          
Voting Procedures. With respect to any matters submitted to Certificateholders for a vote, the Certificate Administrator
shall administer such vote through the Depository with respect to Book-Entry Certificates and directly with registered Holders
by mail with respect to Definitive Certificates. In each case, such vote shall be administered in accordance with the following
procedures, unless different procedures are otherwise described herein with respect to a specific vote:

 

(a)         
Any matter submitted to Certificateholders for a vote shall be announced in a notice prepared by the Certificate Administrator.
Such notice shall include the record date determined by the Certificate Administrator for purposes of the vote and a voting deadline
which shall be no less than thirty (30) days and no later than sixty (60) days after the date such notice is distributed.
The notice and related ballot shall be sent to Holders of Book-Entry Certificates through the Depository and by mail to the
registered Holders of Definitive Certificates. In addition, the notice and related ballot shall be posted to the Certificate Administrator’s
Website.

 

 

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Notices
delivered in this manner shall be considered delivered to all Holders regardless of whether any Holder actually receives the
notice and ballot.

 

(b)          
In connection with any vote administered pursuant to this Agreement, voting Holders shall be required to certify their holdings
in the manner set forth on the ballot, unless a specific manner is otherwise provided herein. Holders may only vote in accordance
with their Voting Rights. Voting Rights with respect to any outstanding Class of Certificates shall be calculated by the Certificate
Administrator in accordance with the definition of Voting Rights as of the record date for the vote. Only Classes with an outstanding
Certificate Balance greater than zero as of the record date of the vote shall be permitted to vote. Once a Holder has cast its
vote, the vote may be changed or retracted on or before the vote deadline. Any changes or retractions shall be communicated by
the Certificateholder to the Certificate Administrator in writing on a ballot. After the vote deadline has passed, votes may not
be changed or retracted by any Holder unless the Holder wishing to change or retract its vote holds a sufficient portion of the
Voting Rights such that the Holder, by its vote alone, could approve or deny the proposition subject to a vote without taking into
consideration the votes cast by any other Holder. Transferees or purchasers of any Class of Certificates are subject to and shall
be bound by all votes of Holders initiated or conducted prior to its acquisition of such Certificate.

 

(c)          
The Certificate Administrator may take up to fifteen (15) Business Days to tabulate the results of any vote. The Certificate
Administrator shall use its reasonable efforts to resolve any illegible or incomplete ballots received prior to the voting deadline.
Illegible or incomplete ballots that are received on the voting deadline or that cannot be resolved by the voting deadline shall
not be counted. Promptly after the votes are tabulated, the Certificate Administrator shall prepare a notice announcing the results
of the vote. Such notice shall include the percentage of Voting Rights in favor of the proposition, the percentage against the
proposition and the percentage abstaining. In addition, the notice will announce whether the proposition has been adopted by Certificateholders.
The notice shall be distributed in accordance with the methods described in Section 5.10(a) above. The Certificate Administrator
shall also include such notice on the Form 10-D prepared in connection with the distribution period that corresponds with
the date such notice is distributed. All vote tabulations shall be final and the Certificate Administrator shall not, absent manifest
error, re-tabulate the votes or conduct a new vote for the same proposition.

 

(d)         
Any and all reasonable expenses incurred by the Certificate Administrator in connection with administering any vote shall
be borne by the Trust. The Certificate Administrator is under no obligation to advise Holders about the matter being voted on or
answer questions other than process-related questions regarding the administration of the vote.

 

(e)          
If any party to this Agreement believes a vote of Certificateholders is needed for some matter related to the administration
of the Trust that is not specifically contemplated herein, such party may request the Certificate Administrator to conduct a vote
and the Certificate Administrator will conduct the requested vote in accordance with these procedures. Unless specifically provided
herein, all such votes require a majority of Certificateholders to carry a proposition.

 

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[End of Article V]

 

ARTICLE
VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER AND THE DIRECTING
CERTIFICATEHOLDER

 

Section 6.01       
Representations, Warranties and Covenants of the Master Servicer, Special Servicer, the Operating Advisor and the Asset
Representations Reviewer. (a) The Master Servicer, for itself only, hereby represents, warrants and covenants to the Trustee,
for its own benefit and the benefit of the Certificateholders, each Serviced Companion Noteholder, the Depositor, the Certificate
Administrator, the Special Servicer, the Asset Representations Reviewer and the Operating Advisor, as of the Closing Date, that:

 

(i)          
The Master Servicer is a national banking association, duly organized, validly existing and in good standing under the laws
of the United States of America, and the Master Servicer is in compliance with the laws of each State in which any Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)          
The execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of
this Agreement by the Master Servicer, do not (A) violate the Master Servicer’s organizational documents, (B) constitute
a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach
of, any material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets
or (C) violate any law, rule, regulation, order, judgment or decree to which the Master Servicer or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect the ability of the Master Servicer to perform
its obligations under this Agreement;

 

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

 

(iv)         
This Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal
and binding obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject
to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement
of creditors’ rights generally, and, to the extent applicable, the rights of creditors of national banks or of “financial
companies” (as defined in Section 201 of the Dodd-Frank Act) or their Affiliates, and (B) general principles
of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)         
The Master Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance
with the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order

 

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regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Master Servicer’s
good faith and reasonable judgment, is likely to materially and adversely affect the ability of the Master Servicer to perform
its obligations under this Agreement;

 

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

 

(vii)       
The Master Servicer has errors and omissions insurance coverage that is in full force and effect or is self-insuring
with respect to such risks, which in either case complies with the requirements of Section 3.07;

 

(viii)      
No consent, approval, authorization or order of, registration or filing with, or notice to, any governmental authority or
court is required under federal or state law for the execution, delivery and performance by the Master Servicer of, or compliance
by the Master Servicer with, this Agreement or the Master Servicer’s consummation of any transactions contemplated hereby,
other than (A) such consents, approvals, authorizations, orders, qualifications, registrations, filings or notices as have
been obtained, made or given prior to the actual performance by the Master Servicer of its obligations under this Agreement or
(B) where the lack of such consent, approval, authorization, order, qualification, registration, filing or notice would not
have a material adverse effect on the performance by the Master Servicer under this Agreement; and

 

(ix)         
To its actual knowledge, the Master Servicer is not a Risk Retention Affiliate of the Third Party Purchaser.

 

(b)         
The Special Servicer, for itself only, hereby represents, warrants and covenants to the Trustee, for its own benefit and
the benefit of the Certificateholders, each Serviced Companion Noteholder, the Depositor, the Certificate Administrator, the Master
Servicer, the Asset Representations Reviewer and the Operating Advisor, as of the Closing Date, that:

 

(i)          
The Special Servicer is a national banking association, duly organized, validly existing and in good standing under the
laws of the United States of America, and the Special Servicer is in compliance with the laws of each State in which any Mortgaged
Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)          
The execution and delivery of this Agreement by the Special Servicer, and the performance and compliance with the terms
of this Agreement by the Special Servicer, do not (A) violate the Special Servicer’s organizational documents, (B) constitute
a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach
of, any material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets,
or (C) violate any law, rule, regulation, order, judgment or decree to which the Special Servicer or its property is

 

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subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect the ability of the Special Servicer to perform
its obligations under this Agreement;

 

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

 

(iv)         
This Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal
and binding obligation of the Special Servicer, enforceable against the Special Servicer in accordance with the terms hereof, subject
to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement
of creditors’ rights generally, and, to the extent applicable, the rights of creditors of national banks or of “financial
companies” (as defined in Section 201 of the Dodd-Frank Act) or their Affiliates, and (B) general principles
of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

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

 

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

 

(vii)       
The Special Servicer has errors and omissions coverage which is in full force and effect or is self-insuring with respect
to such risks, which in either case complies with the requirements of Section 3.07; and

 

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

 

(c)         
The Operating Advisor hereby represents, warrants and covenants to the Trustee, for its own benefit and the benefit of the
Certificateholders, each Serviced Companion

 

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Noteholder, the Depositor, the Certificate Administrator, the Master Servicer, the
Special Servicer, as of the Closing Date, that:

 

(i)          
The Operating Advisor is a limited liability company, duly organized, validly existing and in good standing under the laws
of the State of Delaware and the Operating Advisor is in compliance with the laws of each State in which any Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)          
The execution and delivery of this Agreement by the Operating Advisor, and the performance and compliance with the terms
of this Agreement by the Operating Advisor, do not (A) violate the Operating Advisor’s organizational documents, (B) constitute
a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach
of, any material agreement or other material instrument to which it is a party or which is applicable to it or any of its assets,
or (C) violate any law, rule, regulation, order, judgment or decree to which the Operating Advisor or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect either the ability of the Operating Advisor
to perform its obligations under this Agreement or its financial condition;

 

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

 

(iv)        
This Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal
and binding obligation of the Operating Advisor, enforceable against the Operating Advisor in accordance with the terms hereof,
subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement
of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered
in a proceeding in equity or at law;

 

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

 

(vi)         
The Operating Advisor has errors and omissions insurance coverage that is in full force and effect or is self-insuring
with respect to such risks, which in either case complies with the requirements of Section 3.07;

 

(vii)       
No litigation is pending or, to the best of the Operating Advisor’s knowledge, threatened against the Operating Advisor,
which would prohibit the Operating 

 

 

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Advisor from entering into this Agreement or, in the Operating Advisor’s good faith and
reasonable judgment, is likely to materially and adversely affect the ability of the Operating Advisor to perform its obligations
under this Agreement;

 

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

 

(ix)         
The Operating Advisor is an Eligible Operating Advisor.

 

(d)         
The Asset Representations Reviewer hereby represents and warrants to the Trustee, for its own benefit and the benefit of
the Certificateholders, and to the Depositor, the Master Servicer, the Special Servicer and the Certificate Administrator, as of
the Closing Date, that:

 

(i)          
The Asset Representations Reviewer is a limited liability company, duly organized, validly existing and in good standing
under the laws of the State of Delaware, and the Asset Representations Reviewer is in compliance with the laws of each State in
which any Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)         
The execution and delivery of this Agreement by the Asset Representations Reviewer, and the performance and compliance with
the terms of this Agreement by the Asset Representations Reviewer, do not (A) violate the Asset Representations Reviewer’s
organizational documents, (B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute
a default) under, or result in the breach of, any material agreement or other material instrument to which it is a party or which
is applicable to it or any of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which the
Asset Representations Reviewer or its property is subject, which, in the case of either (B) or (C) above, is likely to materially
and adversely affect either the ability of the Asset Representations Reviewer to perform its obligations under this Agreement or
its financial condition;

 

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

 

(iv)         
This Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal
and binding obligation of the Asset Representations Reviewer, enforceable against the Asset Representations Reviewer in 

 

 

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accordance
with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other
laws affecting the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether
such enforcement is considered in a proceeding in equity or at law;

 

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

 

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

 

(vii)       
The Asset Representations Reviewer has errors and omissions coverage that is in full force and effect or is self-insuring
with respect to such risks, which in either case complies with the requirements of Section 3.07;

 

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

 

(ix)         
The Asset Representations Reviewer is an Eligible Asset Representations Reviewer.

 

(e)         
The representations and warranties set forth in paragraphs (a)-(d) above shall survive the execution and delivery
of this Agreement. Upon written notice or actual knowledge by any party to this Agreement (or upon written notice thereof from
any Certificateholder or any Companion Holder) of a breach of any of the representations and warranties set forth in this Section
6.01 which materially and adversely affects the interests of any party to this Agreement, the Certificateholders, the party
discovering such breach shall give prompt written notice to the other parties hereto, each certifying Certificateholder, and, prior
to the occurrence and continuance of a Control Termination Event, the Directing Certificateholder.

 

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Section 6.02           
Liability of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicer and the Asset Representations
Reviewer. The Depositor, the Master Servicer, the Operating Advisor, the Special Servicer and the Asset Representations Reviewer
shall be liable in accordance herewith only to the extent of the respective obligations specifically imposed upon and undertaken
by the Depositor, the Master Servicer, the Operating Advisor, the Special Servicer and the Asset Representations Reviewer herein.

 

Section 6.03           
Merger, Consolidation or Conversion of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicer
or the Asset Representations Reviewer. (a) Subject to subsection (b) below, each of the Depositor, the Master Servicer
and the Special Servicer will keep in full effect its existence, rights and franchises as an entity under the laws of the jurisdiction
of its incorporation or organization, and each will obtain and preserve its qualification to do business as a foreign entity in
each jurisdiction in which qualification is or shall be necessary to protect the validity and enforceability of this Agreement,
the Certificates or any of the Mortgage Loans or Companion Loans and to perform its respective duties under this Agreement.

 

(b)          Each
of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and the Asset Representations Reviewer may
be merged or consolidated with or into any Person, or transfer all or substantially all of its assets (which may be limited to
all or substantially all of its assets related to commercial mortgage loan servicing, asset representations reviewing or commercial
mortgage surveillance, as the case may be) to any Person, in which case any Person resulting from any merger or consolidation
to which the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, or the Asset Representations Reviewer
shall be a party, or any Person succeeding to the business of the Depositor, the Master Servicer, the Special Servicer, the Operating
Advisor, or the Asset Representations Reviewer, shall be the successor of the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, or the Asset Representations Reviewer (such Person, in the case of the Master Servicer or the Special Servicer,
in each of the foregoing cases, the “Surviving Entity”), as the case may be, hereunder, without the execution or filing
of any paper (other than an assumption agreement wherein the successor shall agree to perform the obligations of and serve as
the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, or the Asset Representations Reviewer, as the
case may be, in accordance with the terms of this Agreement) or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding; provided, however, that with respect to such merger, consolidation or succession,
Rating Agency Confirmation is received from each Rating Agency with respect to the Classes of Certificates and, with respect to
any class of Serviced Companion Loan Securities, a confirmation is received from each applicable rating agency that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates as described in Section 3.25); provided, further, that if the Master Servicer,
the Special Servicer, the Asset Representations Reviewer or the Operating Advisor enters into a merger and the Master Servicer,
the Special Servicer, the Asset Representations Reviewer or the Operating Advisor, as applicable, is the surviving entity under
applicable law, the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, shall not, as a result of the
merger, be required to provide a Rating Agency Confirmation with respect to ratings of the Classes of Certificates or, with respect
to any class of Serviced Companion Loan Securities, a confirmation of the rating agencies that

 

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such action will not result in
the downgrade, withdrawal or qualification of its then-current ratings; provided, further, that for so long as the
Trust, and, with respect to any Serviced Companion Loan included as part of the trust in a related Other Securitization, is subject
to the reporting requirements of the Exchange Act, if the Master Servicer, the Special Servicer or the Operating Advisor notifies
the Depositor in writing (a “Merger Notice”) of any such merger, consolidation, conversion or other change
in form, and the Depositor or the depositor in such Other Securitization, as the case may be, notifies the Master Servicer, the
Special Servicer or the Operating Advisor, as applicable, in writing that the Depositor or the depositor in such Other Securitization,
as the case may be, has discovered that such successor entity has not complied with its Exchange Act reporting obligations under
any other commercial mortgage loan securitization (and specifically identifying the instance of noncompliance), then it shall
be an additional condition to such succession that the Depositor or the depositor in such Other Securitization, as the case may
be, shall have consented (which consent shall not be unreasonably withheld or delayed) to such successor entity. Notwithstanding
the foregoing, no Master Servicer, Special Servicer or Operating Advisor may remain the Master Servicer, the Special Servicer
or the Operating Advisor, as applicable, under this Agreement after (x) being merged or consolidated with or into any Person
that is a Prohibited Party, or (y) transferring all or substantially all of its assets to any Person if such Person is a
Prohibited Party, except to the extent (i) the Master Servicer, the Special Servicer or Operating Advisor, as applicable,
is the surviving entity of such merger, consolidation or transfer and has been and continues to be in compliance with its Regulation
AB reporting obligations hereunder or (ii) the Depositor consents to such merger, consolidation or transfer, which consent
shall not be unreasonably withheld. If, within sixty (60) days following the date of delivery of the Merger Notice to the
Depositor or the depositor in such Other Securitization, as the case may be, the Depositor or depositor in such Other Securitization,
as the case may be, shall have failed to notify the Master Servicer or the Special Servicer, as applicable, in writing of the
Depositor’s determination, or depositor’s determination, in the case of an Other Securitization, to grant or withhold
such consent, such failure shall be deemed to constitute a grant of such consent. If the conditions to the provisions in the second
preceding sentence are not met, the Trustee may terminate, and if the conditions set forth in the third proviso of the third preceding
sentence are not met the Trustee shall terminate, the applicable Surviving Entity’s servicing of the Mortgage Loans pursuant
hereto, such termination to be effected in the manner set forth in Section 7.01.

 

(i)          
The Asset Representations Reviewer shall keep in full effect its existence and rights as an entity under the laws of the
jurisdiction of its organization, and shall be in compliance with the laws of all jurisdictions to the extent necessary to perform
its duties under this Agreement.

 

(ii)          
Any Person into which the Asset Representations Reviewer may be merged or consolidated, or any Person resulting from any
merger or consolidation to which the Asset Representations Reviewer shall be a party, or any Person succeeding to the business
of the Asset Representations Reviewer, shall be the successor of the Asset Representations Reviewer hereunder, and shall be deemed
to have assumed all of the liabilities and obligations of such Asset Representations Reviewer hereunder, without the execution
or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding;
provided, however, that the Trustee has received a Rating Agency Confirmation with respect to such successor or surviving
Person.

 

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Section 6.04          
Limitation on Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset
Representations Reviewer and Others. (a) None of the Depositor, the Master Servicer (including in its capacity as Companion
Paying Agent, if applicable), the Special Servicer, the Operating Advisor, the Asset Representations Reviewer or any of the partners,
directors, officers, shareholders, members, managers, employees or agents of any of the foregoing shall be under any liability
to the Trust, the Certificateholders or the Companion Holders for any action taken or for refraining from the taking of any action
in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall
not protect the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent, if applicable), the Special
Servicer, the Operating Advisor, the Asset Representations Reviewer or any such Person against any breach of warranties or representations
made herein or any liability which would otherwise be imposed by reason of willful misconduct, bad faith or negligence in the performance
of such party’s duties or by reason of negligent disregard of such party’s obligations and duties hereunder. The Depositor,
the Master Servicer (including in its capacity as Companion Paying Agent, if applicable), the Special Servicer, the Operating Advisor,
the Asset Representations Reviewer and any partner, director, officer, shareholder, member, manager, employee or agent of the Depositor,
the Master Servicer (including in its capacity as Companion Paying Agent, if applicable), the Special Servicer, the Operating Advisor
or the Asset Representations Reviewer, and any of the partners, directors, officers, shareholders, members, managers, employees
or agents of any of the foregoing may rely on any document of any kind which, prima facie, is properly executed and submitted by
any Person respecting any matters arising hereunder. The Depositor, the Master Servicer (including in its capacity as Companion
Paying Agent, if applicable), the Special Servicer, the Asset Representations Reviewer and the Operating Advisor and any partner,
director, officer, shareholder, member, manager, employee or agent of any of the foregoing shall be indemnified and held harmless
by the Trust against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments,
and any other costs, liabilities, fees and expenses (including, without limitation, costs and expenses of litigation and of enforcement
of this indemnity, and of investigation, counsel fees, damages, judgments and amounts paid in settlement) incurred in connection
with any actual or threatened legal or administrative action (whether in equity or at law) or claim relating to this Agreement,
the Mortgage Loans, the Companion Loans or the Certificates, other than any loss, liability or expense: (i) specifically required
to be borne thereby pursuant to the terms hereof; (ii) incurred in connection with any breach of a representation or warranty
made by it herein; (iii) incurred by reason of bad faith, willful misconduct or negligence in the performance of its obligations
or duties hereunder, or by reason of negligent disregard of such obligations or duties; or (iv) in the case of the Depositor
and any of its partners, directors, officers, shareholders, members, managers, employees and agents, incurred in connection with
any violation by any of them of any state or federal securities law. In addition, absent actual fraud (as determined by a final
non-appealable court order), neither the Trustee nor the Certificate Administrator (including in its capacity as Custodian, Certificate
Registrar and 17g-5 Information Provider) shall be liable for special, punitive, indirect or consequential loss or damage of
any kind whatsoever (including but not limited to lost profits), even if the Trustee or the Certificate Administrator has been
advised of the likelihood of such loss or damage and regardless of the form of action. Each of the Master Servicer (including in
its capacity as Companion Paying Agent, if applicable), the Special Servicer, the Asset Representations Reviewer and the Operating
Advisor conclusively may rely on, and shall be protected in acting or refraining from acting upon, any resolution, officer’s
certificate,

 

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certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent,
order, financial statement, agreement, appraisal, bond or other document (in electronic or paper format) as contemplated by and
in accordance with this Agreement and reasonably believed or in good faith believed by the Master Servicer (including in its capacity
as Companion Paying Agent, if applicable), the Special Servicer, the Asset Representations Reviewer or the Operating Advisor to
be genuine and to have been signed or presented by the proper party or parties and each of them may consult with counsel, in which
case any written advice of counsel or Opinion of Counsel shall be full and complete authorization and protection with respect to
any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel.

 

(b)          
None of the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent, if applicable), the Special
Servicer, the Operating Advisor or the Asset Representations Reviewer shall be under any obligation to appear in, prosecute or
defend any legal or administrative action (whether in equity or at law), proceeding, hearing or examination that is not incidental
to its respective duties under this Agreement or which in its opinion may involve it in any expense or liability not recoverable
from the Trust; provided, however, that each of the Depositor, the Master Servicer, the Special Servicer, the Operating
Advisor and the Asset Representations Reviewer may in its discretion undertake any such action, proceeding, hearing or examination
that it may deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto and the interests
of the Certificateholders (and, in the case of any Serviced Whole Loan, the rights of the Certificateholders and the holders of
a Serviced Companion Loan (as a collective whole) taking into account the subordinate or pari passu nature of such Serviced
Companion Loan); provided, however, that if a Serviced Whole Loan and/or the holder of any related Companion Loan
are involved, such expenses, costs and liabilities will be payable out of funds related to the applicable Serviced Whole Loan in
accordance with the related Intercreditor Agreement and will also be payable out of the other funds in the Collection Account if
amounts on deposit with respect to such Serviced Whole Loan are insufficient therefor. If any such expenses, costs or liabilities
relate to a Mortgage Loan or Companion Loan, then any subsequent recovery on that Mortgage Loan or Companion Loan, as applicable,
will be used to reimburse the Trust for any amounts advanced for the payment of such expenses, costs or liabilities. In such event,
the legal expenses and costs of such action, proceeding, hearing or examination and any liability resulting therefrom shall be
expenses, costs and liabilities of the Trust, and the Depositor, the Master Servicer (including in its capacity as Companion Paying
Agent, if applicable), the Special Servicer, the Asset Representations Reviewer and the Operating Advisor shall be entitled to
be reimbursed therefor out of amounts attributable to the Mortgage Loans or the Companion Loan on deposit in the Collection Account
(including, without duplication, any subaccount thereof), as provided by Section 3.05(a)(xii).

 

(c)         
Each of the Master Servicer and the Special Servicer, as applicable, agrees to indemnify the Depositor, the Trustee, the
related Serviced Companion Noteholders, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer,
the Master Servicer (including in its capacity as Companion Paying Agent, if applicable) (in the case of the Special Servicer),
the Special Servicer (in the case of the Master Servicer) and the Trust and any partner, director, officer, shareholder, member,
manager, employee or agent thereof, and hold them harmless, from and against any and all claims, losses, penalties, fines, forfeitures,
reasonable legal fees and related costs (including, without limitation, in connection with the enforcement of such

 

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indemnified
party’s rights under this Agreement), judgments, and any other costs, liabilities, fees and expenses that any of them may
sustain arising from or as a result of any willful misconduct, bad faith or negligence of the Master Servicer or the Special Servicer,
as the case may be, in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by
the Master Servicer or the Special Servicer, as the case may be, of its duties and obligations hereunder or by reason of breach
of any representations or warranties made herein by the Master Servicer or the Special Servicer, as applicable. The Trustee, the
Certificate Administrator, the Depositor, the Asset Representations Reviewer or the Operating Advisor, as the case may be, shall
immediately notify the Master Servicer or the Special Servicer, as applicable, if a claim is made by a third party with respect
to this Agreement or the Mortgage Loans entitling the Trust to indemnification hereunder, whereupon the Master Servicer or the
Special Servicer, as the case may be, shall assume the defense of such claim (with counsel reasonably satisfactory to the Trustee,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or the Depositor, as applicable) and pay
all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which
may be entered against it or them in respect of such claim. Any failure to so notify the Master Servicer or the Special Servicer,
as the case may be, shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement or
otherwise, unless the Master Servicer’s or the Special Servicer’s, as the case may be, defense of such claim is materially
prejudiced thereby.

 

Each of the Master Servicer
and the Special Servicer shall indemnify and hold harmless the Depositor from and against any claims, losses, damages, penalties,
fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses incurred by the Depositor
or its Affiliates that arise out of or are based upon, severally and not jointly (i) a breach by the Master Servicer or the
Special Servicer, as applicable, of any obligation it has to deliver information to the 17g-5 Information Provider as set forth
in this Agreement, including Section 3.07(a), Section 3.08, Section 3.09(e), Section 3.12, Section
3.17(c) and Section 3.18(g) or (ii) a breach by the Master Servicer or the Special Servicer, as applicable, of
any obligation it has set forth in Section 3.13(d), Section 3.13(g) and Section 3.13(i).

 

(d)         
Each of the Trustee and the Certificate Administrator (including in its role as Custodian), respectively agrees to indemnify
the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent, if applicable), the Special Servicer,
the Certificate Administrator (in the case of the Trustee), the Trustee (in the case of the Certificate Administrator), the Operating
Advisor, the Asset Representations Reviewer and the Trust and any partner, director, officer, shareholder, member, manager employee
or agent thereof, and hold them harmless, from and against any and all claims, losses, penalties, fines, forfeitures, reasonable
legal fees and related costs (including, without limitation, in connection with the enforcement of such indemnified party’s
rights under this Agreement), judgments, and any other costs, liabilities, fees and expenses that any of them may sustain arising
from or as a result of any willful misconduct, bad faith or negligence of the Trustee or the Certificate Administrator, respectively,
in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by the Trustee or the
Certificate Administrator, respectively, of its duties and obligations hereunder or by reason of breach of any representations
or warranties made herein; provided that such indemnity shall not cover indirect or consequential damages. The Depositor,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer or the Operating Advisor, as the case may be, shall
immediately notify the Trustee and the Certificate Administrator, respectively, if a claim is made

 

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by a third party with respect
to this Agreement or the Mortgage Loans entitling the Trust to indemnification hereunder, whereupon the Trustee or the Certificate
Administrator shall assume the defense of such claim (with counsel reasonably satisfactory to the Depositor, the Master Servicer
(including in its capacity as Companion Paying Agent, if applicable), the Special Servicer, the Asset Representations Reviewer
or the Operating Advisor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and
satisfy any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Trustee
or the Certificate Administrator shall not affect any rights any of the foregoing Persons may have to indemnification under this
Agreement or otherwise, unless the Trustee’s or the Certificate Administrator’s defense of such claim is materially
prejudiced thereby.

 

(e)          
The Depositor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent, if applicable),
the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and
the Trust and any partner, director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless,
from and against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs (including,
without limitation, in connection with the enforcement of such indemnified party’s rights under this Agreement), judgments,
and any other costs, liabilities, fees and expenses that any of them may sustain arising from or as a result of any willful misconduct,
bad faith or negligence of the Depositor, in the performance of its obligations and duties under this Agreement or by reason of
negligent disregard by the Depositor of its duties and obligations hereunder or by reason of breach of any representations or warranties
made herein; provided that such indemnity shall not cover indirect or consequential damages. The Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator, the Asset Representations Reviewer or the Operating Advisor, as the case
may be, shall immediately notify the Depositor if a claim is made by a third party with respect to this Agreement, whereupon the
Depositor shall assume the defense of such claim (with counsel reasonably satisfactory to the Master Servicer (including in its
capacity as Companion Paying Agent, if applicable) or the Special Servicer, as the case may be) and pay all expenses in connection
therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against
it or them in respect of such claim. Any failure to so notify the Depositor shall not affect any rights any of the foregoing Persons
may have to indemnification under this Agreement or otherwise, unless the Depositor’s defense of such claim is materially
prejudiced thereby.

 

(f)          
The Operating Advisor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent, if applicable),
the Special Servicer, the Trustee, the Certificate Administrator, the Depositor, the Asset Representations Reviewer and the Trust
and any partner, director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless, from and against
any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs (including, without limitation,
in connection with the enforcement of such indemnified party’s rights under this Agreement), judgments, and any other costs,
liabilities, fees and expenses that any of them may sustain arising from or as a result of any willful misconduct, bad faith or
negligence of the Operating Advisor, in the performance of its obligations and duties under this Agreement or by reason of negligent
disregard by the Operating Advisor of its duties and obligations hereunder or by reason of breach of any representations or warranties
made herein; provided that such indemnity shall not cover indirect or consequential damages. The Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator, the Asset

 

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Representations Reviewer or the Depositor, as the case may be,
shall immediately notify the Operating Advisor if a claim is made by a third party with respect to this Agreement or the Mortgage
Loans entitling the Trust to indemnification hereunder, whereupon the Operating Advisor shall assume the defense of such claim
(with counsel reasonably satisfactory to the Master Servicer (including in its capacity as Companion Paying Agent), the Special
Servicer, the Trustee, the Certificate Administrator, the Asset Representations Reviewer or the Depositor) and pay all expenses
in connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered
against it or them in respect of such claim. Any failure to so notify the Operating Advisor shall not affect any rights any of
the foregoing Persons may have to indemnification under this Agreement or otherwise, unless the Operating Advisor’s defense
of such claim is materially prejudiced thereby.

 

(g)          
Neither the Operating Advisor nor its Affiliates or any of the partners, directors, officers, shareholders, members, managers,
employees or agents of the Operating Advisor shall be under any liability to any Certificateholder for any action taken or for
refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided,
however, that this provision shall not protect the Operating Advisor against any liability which would otherwise be imposed
by reason of willful misconduct, bad faith or negligence in the performance of duties or by reason of negligent disregard of obligations
and duties hereunder.

 

(h)          
The Asset Representations Reviewer agrees to indemnify the Master Servicer (including in its capacity as Companion Paying
Agent, if applicable), the Special Servicer, the Trustee, the Certificate Administrator, the Depositor, the Operating Advisor and
the Trust and any partner, director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless,
from and against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs (including,
without limitation, in connection with the enforcement of such indemnified party’s rights under this Agreement), judgments,
and any other costs, liabilities, fees and expenses that any of them may sustain arising from or as a result of any willful misconduct,
bad faith or negligence of the Asset Representations Reviewer, in the performance of its obligations and duties under this Agreement
or by reason of negligent disregard by the Asset Representations Reviewer of its duties and obligations hereunder or by reason
of breach of any representations or warranties made herein; provided that such indemnity shall not cover indirect or consequential
damages. The Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor or the Depositor,
as the case may be, shall immediately notify the Asset Representations Reviewer if a claim is made by a third party with respect
to this Agreement or the Mortgage Loans entitling the Trust to indemnification hereunder, whereupon the Asset Representations Reviewer
shall assume the defense of such claim (with counsel reasonably satisfactory to the Master Servicer (including in its capacity
as Companion Paying Agent, if applicable), the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor
or the Depositor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy
any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Asset Representations
Reviewer shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement or otherwise,
unless the Asset Representations Reviewer’s defense of such claim is materially prejudiced thereby.

 

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(i)           
The applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer, Non-Serviced Paying Agent, Non-Serviced
Operating Advisor (if any), Non-Serviced Depositor, Non-Serviced Certificate Administrator and Non-Serviced Trustee,
and any of their respective partners, directors, officers, shareholders, members, managers, employees or agents, shall be indemnified
by the Trust and held harmless against the Trust’s pro rata share (subject to the applicable Non-Serviced Intercreditor
Agreement) of any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other
costs, liabilities, fees and expenses incurred in connection with the servicing and administration of a Non-Serviced Whole
Loan and the related Non-Serviced Mortgaged Property under the applicable Non-Serviced PSA (as and to the same extent the
applicable Non-Serviced Trust is required to indemnify such parties in respect of other mortgage loans in the applicable Non-Serviced
Trust pursuant to the terms of the related Non-Serviced PSA).

 

The indemnification provided
herein shall survive the termination of this Agreement and the termination or resignation of the Master Servicer (including in
its capacity as Companion Paying Agent, if applicable), the Special Servicer, the Trustee, the Certificate Administrator, the Operating
Advisor or the Asset Representations Reviewer.

 

(j)           
For purposes of this Section 6.04 and Section 11.12, the Master Servicer or Special Servicer, as the case
may be, will be deemed not to have engaged in willful misconduct or committed bad faith or negligence in the performance of their
respective obligations and duties hereunder or acted in negligent disregard of such obligations and duties if the Master Servicer
or the Special Servicer, as applicable, fails to follow any terms of any Mortgage Loan documents because the Master Servicer or
the Special Servicer, as applicable, in accordance with the Servicing Standard, determines that compliance with such terms would
or potentially would cause an Adverse REMIC Event (for which determination the Master Servicer and the Special Servicer will be
entitled to rely on advice of counsel, the cost of which will be reimbursed as an additional expense of the Trust).

 

Section 6.05       
Depositor, Master Servicer and Special Servicer Not to Resign. Subject to the provisions of Section 6.03,
neither the Master Servicer nor the Special Servicer shall resign from their respective obligations and duties hereby imposed on
each of them except upon (a) determination that such party’s duties hereunder are no longer permissible under applicable
law or (b) in the case of the Master Servicer or the Special Servicer, upon the appointment of, and the acceptance of such
appointment by, a successor (which may be appointed by the resigning Master Servicer or Special Servicer, as applicable), and receipt
by the Certificate Administrator and the Trustee of Rating Agency Confirmation from each Rating Agency and a confirmation of any
applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings
of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25). Any such determination permitting the resignation of the Master Servicer or the Special Servicer pursuant
to clause (a) above shall be evidenced by an Opinion of Counsel (at the expense of the resigning party) to such effect delivered
to the Trustee and (prior to the occurrence and continuance of a Consultation Termination Event) the Directing Certificateholder.
Unless applicable law requires the resignation of the Master Servicer or the Special Servicer (as the case may be) to be effective
immediately, and the Opinion of Counsel

 

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delivered pursuant to the prior sentence so states, no such resignation by the Master Servicer
or the Special Servicer under clause (a) above shall become effective until the Trustee or a successor master servicer or
special servicer, as applicable, shall have assumed the Master Servicer’s or the Special Servicer’s, as applicable,
responsibilities and obligations in accordance with Section 7.02 and no such resignation by the Master Servicer or the Special
Servicer shall become effective until the Certificate Administrator shall have filed any required Form 8-K pursuant to
Section 11.07 and any other Form 8-K filings have been completed with respect to any related Companion Loan. Upon
any termination (as described in Section 7.01(c)) or resignation of the Master Servicer or the Special Servicer, pursuant
to this Section 6.05, the Master Servicer or the Special Servicer, as applicable, shall have the right and opportunity to
appoint any successor master servicer or special servicer with respect to this Section 6.05; provided that such successor
master servicer or special servicer shall not be the Asset Representations Reviewer, the Operating Advisor or one of their respective
Affiliates and (prior to the occurrence and continuance of a Control Termination Event) such successor special servicer is approved
by the Directing Certificateholder, such approval not to be unreasonably withheld. The resigning party shall pay all reasonable
out-of-pocket costs and expenses (including reasonable out-of-pocket costs and expenses incurred by the Trustee and the Certificate
Administrator) associated with a transfer of its duties pursuant to this Section 6.05. Except as provided in Section
7.01(c), in no event shall the Master Servicer or the Special Servicer have the right to appoint any successor master servicer
or special servicer if the Master Servicer or Special Servicer, as applicable, is terminated or removed pursuant to Section
7.01.

 

Section 6.06       
Rights of the Depositor in Respect of the Master Servicer and the Special Servicer. The Depositor may, but is not
obligated to, enforce the obligations of the Master Servicer and the Special Servicer hereunder and may, but is not obligated to,
perform, or cause a designee to perform, any defaulted obligation of the Master Servicer and the Special Servicer hereunder or
exercise the rights of the Master Servicer or the Special Servicer, as applicable, hereunder; provided, however,
that the Master Servicer and the Special Servicer shall not be relieved of any of their respective obligations hereunder by virtue
of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or liability for any action
or failure to act by the Master Servicer or the Special Servicer and is not obligated to supervise the performance of the Trustee,
the Master Servicer, the Operating Advisor or the Special Servicer under this Agreement or otherwise.

 

Section 6.07       
The Master Servicer and the Special Servicer as Certificate Owner. The Master Servicer, the Special Servicer or any
Affiliate thereof may become the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to)
any Certificate with (except as otherwise set forth in the definition of “Certificateholder”) the same rights it would
have if it were not the Master Servicer, the Special Servicer or an Affiliate thereof.

 

Section 6.08       
The Directing Certificateholder. (a) Other than with
respect to any Serviced AB Whole Loan that is not subject to an AB Control Appraisal Period, for so long as no Control Termination
Event has occurred and is continuing, the Directing Certificateholder shall be entitled to advise (1) the Special Servicer
with respect to all Major Decisions for Specially Serviced Loans (other than any Excluded Loan), (2) the Special Servicer
with respect to all Non-Specially Serviced Loans (other than any Excluded Loan), as to all Major Decisions and (3) the
Master Servicer to the extent the Directing Certificateholder’s consent is required by the definition of Master Servicer
Decision. Notwithstanding anything herein to the contrary, except as

 

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set forth in, and in any event subject to, the third and fourth
paragraphs of this Section 6.08(a) and Section 6.08(b), for so long as no Control Termination Event has occurred
and is continuing (such limitation not to be applicable to a Loan-Specific Directing Certificateholder), the Special Servicer shall
only be permitted to take any of the following actions (each, a “Major Decision”) as to which the Directing
Certificateholder has consented in writing within ten (10) Business Days after the Directing Certificateholder’s receipt
of the Special Servicer’s written recommendation, which may be in the form of an Asset Status Report, and analysis and all
information reasonably requested by the Directing Certificateholder, and reasonably available to the Special Servicer in order
to grant or withhold such consent, which report may (in the sole discretion of the Special Servicer) take the form of an Asset
Status Report (the “Major Decision Reporting Package”) (provided that if such written consent has not
been received by the Special Servicer within such ten (10) Business Day period, then the Directing Certificateholder will
be deemed to have approved such action):

 

(i)           
any proposed or actual foreclosure upon or comparable conversion (which may include acquisition of an REO Property) of the
ownership of properties securing any Mortgage Loan (other than a Non-Serviced Mortgage Loan) and Serviced Companion Loan that
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
a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan or any extension of the maturity date of such
Mortgage Loan or Serviced Whole Loan other than in connection with a maturity default if a refinancing or sale is expected within
120 days as provided in clause (ix) of the definition of “Master Servicer Decision”;

 

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

 

(iv)         
any sale of a Defaulted Loan and any related defaulted Companion Loan, or any REO Property (other than in connection with
the termination of the Trust), or in accordance with Section 3.16(a)(iii) of this Agreement and the related Intercreditor
Agreement in each case, for less than the applicable Purchase Price;

 

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

 

(vi)         
any release of collateral or any acceptance of substitute or additional collateral for a Mortgage Loan (other than a Non-Serviced
Mortgage Loan) or Serviced Whole Loan or any consent to either of the foregoing, other than if (i) required pursuant to the
specific terms of the related Mortgage Loan documents or (ii) a release of a non-material, non-income producing parcel as
described under clause (ii) or clause (v) of the definition of “Master Servicer Decision”;

 

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(vii)        
any waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to a Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or a Serviced Whole Loan or any consent to such a waiver or consent to a transfer
of the Mortgaged Property or interests in the Mortgagor, other than any such transfer or incurrence of debt as described under
clause (xiii) of the definition of “Master Servicer Decision” or, solely with regard to Specially Serviced Loans,
as may be effected (I) without the consent of the lender under the related loan agreements, (II) pursuant to the specific
terms of such Mortgage Loan and (III) for which there is no lender discretion;

 

(viii)       
any consent to a property management company change with respect to a Mortgage Loan for which the proposed replacement property
manager is a Borrower Party, including, without limitation, approval of the termination of a manager and appointment of a new property
manager;

 

(ix)          
any franchise changes with respect to a Mortgage Loan for which the lender is required to consent or approve such changes
under the related Mortgage Loan documents;

 

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

 

(xi)         
any acceptance of an assumption agreement or any other agreement permitting a transfer of interests in a Mortgagor or guarantor
releasing a Mortgagor or guarantor from liability under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Whole Loan other than pursuant to the specific terms of such Mortgage Loan or Serviced Whole Loan and for which there is no lender
discretion;

 

(xii)        
other than in the case of a Non-Specially Serviced Loan or a Non-Serviced Mortgage Loan, any modification, amendment, consent
to a modification or waiver of any material term of any Intercreditor Agreement, co-lender or similar agreement with any mezzanine
lender, subordinate debt holder or Pari Passu Companion Loan Holder related to a Mortgage Loan or Whole Loan (except any modification,
amendment, consent to a modification or waiver of any term of any Intercreditor Agreement or any intercreditor, co-lender or similar
agreement with any mezzanine lender or subordinate debt holder to split or resize notes consistent with the terms of such Intercreditor
Agreement or such intercreditor, co-lender or similar agreement), or any action to enforce rights (or decision not to enforce rights)
with respect thereto; provided, however, that any such modification or amendment that would adversely impact the
Master Servicer shall additionally require the consent of the Master Servicer as a condition to its effectiveness;

 

(xiii)       
any consent to incurrence of additional debt by a Mortgagor or mezzanine debt by a direct or indirect parent of a Mortgagor;

 

(xiv)       
agreeing to any modification, waiver, consent or amendment of the related Mortgage Loan or Serviced Whole Loan in connection
with a defeasance if such proposed

 

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modification, waiver, consent or amendment is with respect to (A) a modification of the
type of defeasance collateral required under the Mortgage Loan or Serviced Whole Loan documents such that defeasance collateral
other than direct, non-callable obligations of the United States would be permitted or (B) a modification that would permit
a principal prepayment instead of defeasance if the applicable Mortgage Loan documents do not otherwise permit such principal prepayment;

 

(xv)        
determining whether to cure any default by a Mortgagor under a Ground Lease or permit any Ground Lease modification, waiver,
amendment or subordination, non-disturbance and attornment agreement or entry into a new Ground Lease;

 

(xvi)       
other than in the case of any Non-Specially Serviced Loan, and other than with respect to a Ground Lease (addressed in clause
(xv) above), any modification, waiver or amendment of any lease, the execution of a new lease or the granting of a subordination,
non-disturbance and attornment agreement in connection with any lease at a Mortgaged Property or REO Property if the lease affects
an area greater than or equal to 30% of the net rentable area of the improvements at the Mortgaged Property;

 

(xvii)       other than in the case of any Non-Specially Serviced Loan, approval of any waiver regarding the receipt of financial statements
(other than immaterial timing waivers including late financial statements which in no event relieve any Mortgagor of the obligation
to provide financial statements on at least a quarterly basis) following three consecutive late deliveries of financial statements;

 

(xviii)      other than in the case of a Non-Specially Serviced Loan, any approval of or consent to a grant of an easement or right of
way that materially affects the use or value of a Mortgaged Property or a Mortgagor’s ability to make payments with respect
to the related Mortgage Loan or any related Companion Loan or subordination of the lien of the Mortgage Loan to such easement or
right of way; and

 

(xix)         other than in the case of any Non-Specially Serviced Loan, any determination of an Acceptable Insurance Default;

 

provided, however, that,
in the event that the Special Servicer or the Master Servicer, as the case may be, determines that immediate action, with respect
to the foregoing matters, or any other matter requiring consent of the Directing Certificateholder prior to the occurrence and
continuance of a Control Termination Event in this Agreement (or any matter requiring consultation with the Directing Certificateholder
or the Operating Advisor), is necessary to protect the interests of the Certificateholders (or, with respect to any Serviced Whole
Loan, the interest of the Certificateholders and the holders of any related Serviced Companion Loan) (as a collective whole (taking
into account the subordinate or pari passu nature of any Companion Loans)), the Special Servicer or the Master Servicer,
as the case may be, may take any such action without waiting for the Directing Certificateholder’s response (or without waiting
to consult with the Directing Certificateholder or the Operating Advisor, as the case may be); provided that the Special
Servicer or the Master Servicer, as the case may be, provides the Directing Certificateholder (or the Operating Advisor, if applicable)
with prompt written notice following such action including a reasonably detailed explanation of the basis therefor. Notwithstanding
the foregoing, with respect

 

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to a Serviced AB Whole Loan, prior to the occurrence and continuance of an AB Control Appraisal Period,
the Directing Certificateholder shall not be entitled to exercise the rights described in this Section 6.08 with respect
to any Major Decision and the Master Servicer or the Special Servicer, as applicable, shall obtain the prior consent of the AB
Whole Loan Controlling Holder to the extent required by the terms of the related AB Intercreditor Agreement. However, with respect
to a Serviced AB Whole Loan, if the Master Servicer or the Special Servicer, as applicable, determines immediate action is necessary
to protect the interests of the Certificateholders and the holders of any related Serviced Companion Loan, or if a failure to take
any such action at such time would be inconsistent with the Servicing Standard, the Master Servicer or the Special Servicer, as
applicable, may take actions with respect to such Mortgaged Property before obtaining the consent of the AB Whole Loan Controlling
Holder or the Directing Certificateholder, as applicable, if the Master Servicer or the Special Servicer, as applicable, 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 Certificateholders and the holders of any related Serviced Companion Loan, as a collective
whole and the Master Servicer or the Special Servicer, as applicable, has made a reasonable effort to contact the Directing Certificateholder.
Neither the Master Servicer nor the Special Servicer is required to obtain the consent of the Directing Certificateholder for any
of the foregoing actions or any other matter requiring consent of the Directing Certificateholder after the occurrence and during
the continuance of a Control Termination Event; provided, however, that, after the occurrence and during the continuance
of a Control Termination Event, the Special Servicer shall consult with the Directing Certificateholder (only prior to the occurrence
and continuance of a Consultation Termination Event) in connection with any Major Decision not relating to an Excluded Loan (and
any other actions which otherwise require consultation with the Directing Certificateholder prior to the occurrence and continuance
of a Consultation Termination Event hereunder) and consider alternative actions recommended by the Directing Certificateholder
in respect thereof. In the event the Special Servicer receives no response (which initial request shall include a Major Decision
Reporting Package) from the Directing Certificateholder within 10 Business Days following its written request for input on any
required consultation, the Special Servicer shall not be obligated to consult with the Directing Certificateholder on the specific
matter; provided, however, that the failure of the Directing Certificateholder to respond shall not relieve the Special
Servicer from consulting with the Directing Certificateholder on any future matters with respect to the applicable Mortgage Loan
(other than a Non-Serviced Mortgage Loan or an Excluded Loan with respect to such party) or Serviced Whole Loan. The Special
Servicer shall provide each Major Decision Reporting Package to the Operating Advisor (a) prior to the occurrence of an Operating
Advisor Consultation Event, promptly after the Special Servicer receives the Directing Certificateholder’s approval or deemed
approval with respect to such Major Decision or (b) following the occurrence and during the continuance of an Operating Advisor
Consultation Event, simultaneously upon providing such Major Decision Reporting Package to the Directing Certificateholder; provided,
however, that, with respect to any Non-Specially Serviced Loan other than an Excluded Loan, no Major Decision Reporting
Package shall be required to be delivered prior to the occurrence and continuance of an Operating Advisor Consultation Event. With
respect to any particular Major Decision and related Major Decision Reporting Package and any Asset Status Report, the Special
Servicer shall make available to the Operating Advisor a Servicing Officer with relevant knowledge regarding the related Mortgage
Loan and such Major Decision and/or Asset Status Report in order to address reasonable questions that the Operating Advisor may
have relating to, among other things, such

 

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Major Decision and/or Asset Status Report. In addition, if an Operating Advisor Consultation
Event has occurred and is continuing, the Special Servicer shall also consult with the Operating Advisor in connection with any
proposed Major Decision (and any other actions which otherwise require consultation with the Operating Advisor after the occurrence
and during the continuance of an Operating Advisor Consultation Event hereunder) and consider alternative actions recommended by
the Operating Advisor, in respect thereof, provided that such consultation is on a non-binding basis. In the event that
the Special Servicer receives no response from the Operating Advisor within 10 Business Days following the later of (i) its
written request for input (which request shall include the related Major Decision Reporting Package) on any required consultation
and (ii) delivery of all such additional information reasonably requested by the Operating Advisor related to the subject
matter of such consultation, the Special Servicer shall not be obligated to consult with the Operating Advisor on the specific
matter; provided, however, that the failure of the Operating Advisor to respond on any specific matters shall not
relieve the Special Servicer from its obligation to consult with the Operating Advisor on any future matter with respect to the
applicable Mortgage Loan or any other Mortgage Loan. Notwithstanding anything herein to the contrary, with respect to any Excluded
Loan (regardless of whether a Control Termination Event, a Consultation Termination Event or an Operating Advisor Consultation
Event has occurred and is continuing), the Special Servicer shall consult with the Operating Advisor, on a non-binding basis,
in connection with the related transactions involving proposed Major Decisions and consider alternative actions recommended by
the Operating Advisor, in respect thereof, in accordance with the procedures set forth in this Section 6.08(a) for consulting
with the Operating Advisor.

 

Subject to the terms
and conditions of this Section 6.08(a), the Special Servicer shall process all requests for any matter that constitutes
a “Major Decision” with respect to all Mortgage Loans (other than any Non-Serviced Mortgage Loan).

 

Upon receiving a request
for any matter that constitutes a Major Decision with respect to a Mortgage Loan (other than any Non-Serviced Mortgage Loan)
and any Serviced Companion Loan that is not a Specially Serviced Loan, the Master Servicer shall promptly forward such request
to the Special Servicer and the Special Servicer shall process such request (including, without limitation, interfacing with the
Mortgagor) and except as provided in the next sentence, the Master Servicer shall have no further obligation with respect to such
request or the Major Decision. With respect to such request, the Master Servicer shall continue to cooperate with the Special Servicer
by delivering any additional information in the Master Servicer’s possession to the Special Servicer requested by the Special
Servicer relating to such Major Decision. The Master Servicer shall not be permitted to process any Major Decision and shall not
be required to interface with the Mortgagor or provide a written recommendation and analysis with respect to any Major Decision.

 

In addition, with respect
to any Mortgage Loan other than an Excluded Loan, for so long as no Control Termination Event has occurred and is continuing, the
Directing Certificateholder, subject to any rights, if any, of the related Companion Holder to advise the Special Servicer with
respect to the related Serviced Whole Loan, pursuant to the terms of the related Intercreditor Agreement, may direct the Special
Servicer to take, or to refrain from taking, such other actions with respect to a Mortgage Loan, as the Directing Certificateholder
may deem advisable or as to which provision is otherwise made herein; provided that notwithstanding anything herein to the
contrary, no such direction or objection contemplated by the first paragraph

 

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of this Section 6.08(a) or this paragraph may
require or cause the Master Servicer or Special Servicer to violate any provision of any Mortgage Loan or related Intercreditor
Agreement or mezzanine intercreditor agreement, applicable law, this Agreement, or the REMIC Provisions (and, with respect to a
Serviced Whole Loan, subject to the rights of the holders of the related Companion Loan), including without limitation the obligation
of the Master Servicer and the Special Servicer to act in accordance with the Servicing Standard, or expose the Master Servicer,
the Special Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Trust or the
Trustee to liability, or materially expand the scope of the responsibilities of the Master Servicer or the Special Servicer, as
applicable, hereunder or cause the Master Servicer or the Special Servicer, as applicable, to act, or fail to act, in a manner
which in the reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, is not in the best interests
of the Certificateholders.

 

In the event the Special
Servicer or the Master Servicer, as applicable, determines that a refusal to consent by the Directing Certificateholder or the
Operating Advisor or any advice from the Directing Certificateholder or the Operating Advisor would cause the Special Servicer
or the Master Servicer, as applicable, to violate the terms of any Mortgage Loan, applicable law or this Agreement, including without
limitation, the Servicing Standard, the Special Servicer or the Master Servicer, as applicable, shall disregard such refusal to
consent or advise and notify the Directing Certificateholder or the Operating Advisor, respectively, and the Trustee and the Rating
Agencies of its determination, including a reasonably detailed explanation of the basis therefor. The taking of, or refraining
from taking, any action by the Master Servicer or the Special Servicer in accordance with the direction of or approval of the Directing
Certificateholder or the advice of the Operating Advisor that does not violate the terms of any Mortgage Loan, applicable law or
the Servicing Standard or any other provisions of this Agreement, will not result in any liability on the part of the Master Servicer
or the Special Servicer.

 

The Directing Certificateholder
shall have no liability to the Trust or the Certificateholders for any action taken, or for refraining from the taking of any action,
or for errors in judgment; provided, however, that the Directing Certificateholder (exclusive of a Loan-Specific
Directing Certificateholder) shall not be protected against any liability to a Controlling Class Certificateholder that would otherwise
be imposed by reason of willful misconduct, bad faith or negligence in the performance of duties owed to the Controlling Class
Certificateholders or by reason of reckless disregard of obligations or duties owed to the Controlling Class Certificateholders.
By its acceptance of a Certificate, each Certificateholder acknowledges and agrees that the Directing Certificateholder may take
actions that favor the interests of one or more Classes of the Certificates including the Holders of the Controlling Class over
other Classes of the Certificates, and that the Directing Certificateholder may have special relationships and interests that conflict
with those of Holders of some Classes of the Certificates, that the Directing Certificateholder may act solely in its own interests
or the interests of the Holders of the Controlling Class, that the Directing Certificateholder does not have any duties or liability
to the Holders of any Class of Certificates other than the Controlling Class except in the case of a Loan-Specific Directing Certificateholder,
that the Directing Certificateholder shall not be liable to any Certificateholder, by reason of its having acted solely in its
own interests or the interests of the Holders of the Controlling Class, and that the Directing Certificateholder shall have no
liability whatsoever for having so acted, and no Certificateholder may take any action whatsoever against

 

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the Directing Certificateholder
or any director, officer, employee, agent or principal thereof for having so acted.

 

Any Non-Serviced
Whole Loan Controlling Holder, with respect to a Non-Serviced Whole Loan, shall have no liability to the Trust or the Certificateholders
for any action taken, or for refraining from the taking of any action, or for errors in judgment. By its acceptance of a Certificate,
each Certificateholder acknowledges and agrees that any such Non-Serviced Whole Loan Controlling Holder, with respect to the
related Non-Serviced Whole Loan, may take actions that favor the interests of one or more classes of the certificates issued
under the related Non-Serviced PSA including the holders of the controlling class under such Non-Serviced PSA over other
classes of the certificates issued under the Non-Serviced PSA and/or any Class of Certificates, and that such Non-Serviced
Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, may have special relationships and interests that
conflict with those of Holders of some Classes of the Certificates, that such Non-Serviced Whole Loan Controlling Holder, with
respect to such Non-Serviced Whole Loan, may act solely in the interests of the Holders of the controlling class under the
related Non-Serviced PSA, that such Non-Serviced Whole Loan Controlling Holder, shall not be liable to any Certificateholder,
by reason of its having acted solely in the interests of the Holders of the controlling class under the related Non-Serviced
PSA, and that the Non-Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, shall have
no liability whatsoever for having so acted, and no Certificateholder may take any action whatsoever against such Non-Serviced
Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, or any director, officer, employee, agent or principal
thereof for having so acted.

 

(b)          
Notwithstanding anything to the contrary contained herein (i) after the occurrence and during the continuance of a
Control Termination Event (and at any time with respect to any Excluded Loan), the Directing Certificateholder (other than any
Loan-Specific Directing Certificateholder) shall have no right to consent to or direct any action taken or not taken by any party
to this Agreement; (ii) after the occurrence and during the continuance of a Control Termination Event but prior to the occurrence
and continuance of a Consultation Termination Event, the Directing Certificateholder shall remain entitled to receive any notices,
reports or information to which it is entitled pursuant to this Agreement, and the Master Servicer, the Special Servicer and any
other applicable party shall consult with the Directing Certificateholder (other than with respect to any Excluded Loan), to the
extent set forth herein in connection with any action to be taken or refrained from taking to the extent set forth herein; and
(iii) after the occurrence and during the continuance of a Consultation Termination Event (and at any time with respect to
any Excluded Loan), the Directing Certificateholder (other than any Loan-Specific Directing Certificateholder) shall have no direction,
consultation or consent rights hereunder and no right to receive any notices, reports or information (other than notices, reports
or information required to be delivered to all Certificateholders) or any other rights as Directing Certificateholder.

 

Section 6.09       
Knowledge of Wells Fargo Bank, National Association.
Except as otherwise expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity
hereunder will not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity
that is unrelated to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting
in any other capacity hereunder, except, in the case of either clause (a) or clause (b), where some or all

 

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of the obligations
performed in such capacities are performed by one or more employees within the same group or division of Wells Fargo Bank, National
Association, or where the groups or divisions responsible for performing the obligations in such capacities have one or more of
the same Responsible Officers or Servicing Officers, as applicable.

 

[End of Article VI]

 

ARTICLE
VII

SERVICER TERMINATION EVENTS

 

Section 7.01       
Servicer Termination Events; Master Servicer and Special Servicer Termination. (a) “Servicer Termination
Event”, wherever used herein, means, with respect to the Master Servicer or the Special Servicer, as the case may be,
any one of the following events:

 

(i)          
(A) any failure by the Master Servicer to make any deposit required to be made by the Master Servicer to the Collection
Account, or remit to the Companion Paying Agent for deposit into the related Companion Distribution Account, on the day and by
the time such deposit or remittance is first required to be made under the terms of this Agreement, which failure is not remedied
within one (1) Business Day or (B) any failure by the Master Servicer to deposit into, or remit to the Certificate Administrator
for deposit into, any Distribution Account any amount required to be so deposited or remitted, which failure is not remedied by
11:00 a.m. (New York City time) on the relevant Distribution Date; or

 

(ii)          
any failure by the Special Servicer to deposit into the REO Account, within one (1) Business Day after such deposit
is required to be made or to remit to the Master Servicer for deposit into the Collection Account or any other required account
hereunder, any amount required to be so deposited or remitted by the Special Servicer pursuant to, and at the time specified by,
the terms of this Agreement; or

 

(iii)         
any failure on the part of the Master Servicer or the Special Servicer, as the case may be, duly to observe or perform in
any material respect any of its other covenants or obligations contained in this Agreement, which failure continues unremedied
for a period of thirty (30) days (or (A) with respect to any year that a report on Form 10-K is required to
be filed, five (5) Business Days in the case of the Master Servicer’s or the Special Servicer’s obligations, as
the case may be, contemplated by Article XI, (B) fifteen (15) days in the case of the Master Servicer’s
failure to make a Servicing Advance or (C) fifteen (15) days in the case of a failure to pay the premium for any property
insurance policy required to be maintained) after the date on which written notice of such failure, requiring the same to be remedied,
shall have been given (A) to the Master Servicer or the Special Servicer, as the case may be, by any other party hereto, or
(B) to the Master Servicer or the Special Servicer, as the case may be, with a copy to each other party to this Agreement,
by the Holders of Certificates evidencing not less than 25% of all Voting Rights or, solely as it relates to the servicing of a
Serviced Pari Passu Whole Loan if affected by that failure, by the related Serviced Companion Noteholders; provided, however,
if such failure is capable of being cured and the Master Servicer or the Special

 

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Servicer, as applicable, is diligently pursuing
such cure, such period will be extended an additional thirty (30) days; provided, further, however, that
such extended period will not apply to the obligations regarding Exchange Act reporting; or

 

(iv)         
any breach on the part of the Master Servicer or the Special Servicer, as the case may be, of any representation or warranty
contained in Section 6.01(a) or Section 6.01(b), as applicable, which materially and adversely affects the interests
of any Class of Certificateholders or Companion Holders (excluding the holder of any Non-Serviced Companion Loan) and which continues
unremedied for a period of thirty (30) days after the date on which notice of such breach, requiring the same to be remedied,
shall have been given to the Master Servicer or the Special Servicer, as the case may be, by the Depositor, the Certificate Administrator
or the Trustee, or to the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee by
the Holders of Certificates evidencing not less than 25% of all Voting Rights or, as it relates to the servicing of a Serviced
Pari Passu Whole Loan affected by such breach, by the related Serviced Companion Noteholders; provided, however,
that if such breach is capable of being cured and the Master Servicer or the Special Servicer, as the case may be, is diligently
pursuing such cure, such 30-day period will be extended an additional thirty (30) days; or

 

(v)          
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case
under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver,
liquidator, trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities
or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer
or the Special Servicer, as the case may be, and such decree or order shall have remained in force undischarged, undismissed or
unstayed for a period of sixty (60) days; or

 

(vi)         
the Master Servicer or the Special Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee
or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings
of or relating to the Master Servicer or the Special Servicer, as the case may be, or of or relating to all or substantially all
of its property; or

 

(vii)         the Master Servicer or the Special Servicer shall admit in writing its inability to pay its debts generally as they become
due, file a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for
the benefit of its creditors, voluntarily suspend payment of its obligations or take any corporate action in furtherance of the
foregoing; or

 

(viii)        KBRA (or, in the case of Serviced Pari Passu Companion Loan Securities, any Companion Loan Rating Agency) has (A) qualified,
downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or Serviced Pari Passu Companion Loan Securities,
as applicable, or (B) placed one or more Classes of Certificates or Serviced Pari Passu Companion Loan Securities, as applicable,
on “watch status” in contemplation of a ratings downgrade or withdrawal (and such qualification, downgrade, withdrawal
or “watch status” placement shall not have been withdrawn by KBRA (or

 

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Serviced Pari Passu Companion Loan Securities,
as applicable), within sixty (60) days of such rating action) and, in the case of either of clauses (A) or (B),
publicly citing servicing concerns with the Master Servicer or the Special Servicer, as the case may be, as the sole or a material
factor in such rating action;

 

(ix)         
the Master Servicer or the Special Servicer, as the case may be, is no longer rated at least “CMS3” or “CSS3”,
respectively, by Fitch and such Master Servicer or such Special Servicer, as the case may be, is not reinstated to at least that
rating within 60 days of the delisting; or

 

(x)          
such Master Servicer or such Special Servicer, as the case may be, is removed from S&P’s Select Servicer List
as a “U.S. Commercial Mortgage Master Servicer” or a “U.S. Commercial Mortgage Special Servicer,” as applicable,
and is not restored to such status on such list within 60 days.

 

(b)          
If any Servicer Termination Event with respect to the Master Servicer or the Special Servicer (in either case, for purposes
of this Section 7.01(b), the “Affected Party”) shall occur and be continuing, then, and in each and every
such case, so long as such Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction
of ((i) prior to the occurrence and continuance of a Control Termination Event and (ii) other than with respect to any
Excluded Loan) the Directing Certificateholder (solely with respect to the Special Servicer) or the Holders of Certificates entitled
to more than 25% of the Voting Rights, the Trustee shall, terminate (and the Depositor may direct the Trustee to terminate each
of the Master Servicer or the Special Servicer, as the case may be, upon five (5) Business Days’ written notice if there
is a Servicer Termination Event under clause (A) in the parenthetical in Section 7.01(a)(iii) above), by notice in
writing to the Affected Party, with a copy of such notice to the Depositor and the Operating Advisor, all of the rights (subject
to Section 3.11 and Section 6.04) and obligations of the Affected Party under this Agreement and in and to the Mortgage
Loans and the proceeds thereof (other than as a Certificateholder or Companion Holder, if applicable); provided, however,
that the Affected Party shall be entitled to the payment of accrued and unpaid compensation and reimbursement through the date
of such termination as provided for under this Agreement for services rendered and expenses incurred. From and after the receipt
by the Affected Party of such written notice except as otherwise provided in this Article VII, all authority and power
of the Affected Party under this Agreement, whether with respect to the Certificates (other than as a Holder of any Certificate)
or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee with respect to a termination of the Master Servicer
or the Special Servicer pursuant to and under this Section 7.01, and, without limitation, the Trustee is hereby authorized
and empowered to execute and deliver, on behalf of and at the expense of the Affected Party, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans
and related documents, or otherwise. The Master Servicer and the Special Servicer each agree that if it is terminated pursuant
to this Section 7.01(b), it shall promptly (and in any event no later than twenty (20) Business Days subsequent to
its receipt of the notice of termination) provide the Trustee with all documents and records requested by it to enable it to assume
the Master Servicer’s or the Special Servicer’s, as the case may be, functions hereunder, and shall cooperate with
the Trustee in effecting the termination of the Master Servicer’s or the Special Servicer’s, as

 

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the case may be, responsibilities
and rights (subject to Section 3.11 and Section 6.04) hereunder, including, without limitation, the transfer within
five (5) Business Days to the Trustee for administration by it of all cash amounts which shall at the time be or should have
been credited by the Master Servicer to the Collection Account or any Servicing Account (if it is the Affected Party), by the Special
Servicer to the REO Account (if it is the Affected Party) or thereafter be received with respect to the applicable Mortgage Loans
or any REO Property (provided, however, that the Master Servicer and the Special Servicer each shall, if terminated
pursuant to this Section 7.01(b) or pursuant to Section 7.01(d) (with respect to the Special Servicer), continue
to be entitled to receive all amounts accrued or owing to it under this Agreement on or prior to the date of such termination,
whether in respect of Advances (in the case of the Special Servicer or the Master Servicer) or otherwise, and it and its Affiliates
and the directors, managers, officers, members, employees and agents of it and its Affiliates shall continue to be entitled to
the benefits of Section 3.11 and Section 6.04 notwithstanding any such termination).

 

(c)          
If the Master Servicer receives notice of termination under Section 7.01(b) solely due to a Servicer Termination
Event under Section 7.01(a)(viii) or Section 7.01(a)(ix), the Master Servicer shall have a forty-five (45) day
period after such notice in which to find a successor master servicer qualified to act as Master Servicer hereunder in accordance
with Section 6.03 and Section 7.02 and to which the Master Servicer can sell its rights to service the Mortgage Loans
under this Agreement. During such forty-five (45) day period the Master Servicer may continue to serve as the Master Servicer
hereunder. In the event that the Master Servicer is unable, within such forty-five (45) day period, to cause a qualified
successor master servicer to assume the duties of the Master Servicer hereunder, then and in such event, the Trustee shall assume
the obligations of the Master Servicer hereunder.

 

Notwithstanding Section
7.01(b), if any Servicer Termination Event on the part of the Special Servicer shall occur and be continuing that affects the
Holder of a Serviced Pari Passu Companion Loan, then, so long as the Special Servicer is not otherwise terminated, the Holder of
such Serviced Pari Passu Companion Loan or the Other Trustee appointed under the related Other Pooling and Servicing Agreement,
as applicable, shall be entitled to direct the Trustee to terminate the Special Servicer with respect to the related Serviced Pari
Passu Whole Loan. The Special Servicer appointed to replace the Special Servicer with respect to a Serviced Pari Passu Mortgage
Loan cannot at any time be (without the prior written consent of the holder of such Serviced Pari Passu Companion Loan) the person
(or Affiliate thereof) that was terminated at the direction of the holder of the related Serviced Pari Passu Companion Loan. The
Special Servicer under this paragraph shall meet the eligibility requirements of Section 7.02 and the eligibility requirements
of the related Other Pooling and Servicing Agreement, and the appointment thereof shall comply with the provisions of Section
7.02. Any appointment of a replacement Special Servicer in accordance with this paragraph shall be subject to the receipt of
Rating Agency Confirmation and confirmation from the applicable rating agencies that such appointment or replacement will not result
in the downgrade, withdrawal or qualification of the then-current ratings of any class of any related Serviced Companion Loan Securities
(provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation
may be considered satisfied with respect to the Certificates pursuant to Section 3.25).

 

(d)          
Subject to the rights of the holder of any Subordinate Companion Holder pursuant to the related Intercreditor Agreement
at any time prior to the occurrence and continuance

 

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of a Control Termination Event and other than with respect to any Excluded
Loan, the Directing Certificateholder shall be entitled to terminate the rights (subject to Section 3.11 and Section
6.04) and obligations of the Special Servicer under this Agreement, with or without cause, upon ten (10) Business Days’
notice to the Special Servicer, the Master Servicer, the Certificate Administrator, the Trustee and the Operating Advisor; such
termination to be effective upon the appointment of a successor special servicer meeting the requirements of this Section 7.01(d)
provided that, with respect to a Servicing Shift Whole Loan, the ten (10) Business Days’ notice set forth in this
Section 7.01(d) shall not apply to the related Loan-Specific Directing Certificateholder’s right to terminate
the Special Servicer’s rights and obligations under this Agreement without cause with respect to such Servicing Shift Whole
Loan pursuant to the terms of the related Intercreditor Agreement. Upon a termination of the Special Servicer, the Directing Certificateholder
(other than with respect to any Excluded Loan) shall appoint a successor special servicer to assume the duties of the Special Servicer
hereunder; provided, however, that (i) such successor will meet the requirements set forth in Section 7.02,
(ii) each Rating Agency delivers Rating Agency Confirmation and, in the case of any class of any Serviced Companion Loan Securities,
the applicable rating agencies deliver a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25)
and (iii) no replacement of the Special Servicer shall be effective until the Certificate Administrator shall have filed any
required Form 8-K pursuant to Section 11.07 and any other Form 8-K filings have been completed with respect
to any related Companion Loan. For the sake of clarity, the recommendation of replacement of the Special Servicer by the Operating
Advisor and the approval of the Certificateholders of such Qualified Replacement Special Servicer shall not preclude the Directing
Certificateholder from appointing a replacement special servicer, provided that such replacement may not be the removed
Special Servicer or its Affiliate.

 

After the occurrence
and during the continuance of a Control Termination Event and upon (a) the written direction of Holders of Principal Balance
Certificates evidencing not less than 25% of the Voting Rights (taking into account the application of any Cumulative Appraisal
Reduction Amounts to notionally reduce the Certificate Balances pursuant to Section 4.05) of the Principal Balance Certificates
requesting a vote to replace the Special Servicer with a new special servicer designated in such written direction to assume the
duties of the Special Servicer hereunder, (b) payment by such Holders to the Certificate Administrator of the reasonable fees
and expenses (including any legal fees and any Rating Agency fees and expenses) to be incurred by the Certificate Administrator
in connection with administering such vote and which will not be additional expenses of the Trust and (c) delivery by such
Holders to the Certificate Administrator and Trustee of Rating Agency Confirmation from each Rating Agency (which Rating Agency
Confirmation shall be obtained at the expense of such Holders) and confirmation from the applicable rating agencies that such appointment
(or replacement) will not result in the downgrade, withdrawal or qualification of the then current ratings of any class of any
related Serviced Pari Passu Companion Loan Securities, the Certificate Administrator shall promptly post notice to all Certificateholders
of such request on the Certificate Administrator’s Website in accordance with Section 3.13(b) and concurrently by
mail, conduct the solicitation of votes of all Certificates in such regard, which requisite affirmative votes must be received
within one hundred-eighty (180) days of the posting of such notice, and if not so received, such votes shall be null
and void ab initio. Upon the written direction of Holders of Certificates evidencing at least 66-2/3% of a

 

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Certificateholder
Quorum of Certificates, the Trustee shall terminate all of the rights and obligations of the Special Servicer under this Agreement
and appoint the successor special servicer to assume the duties of the Special Servicer (which must be a Qualified Replacement
Special Servicer) designated by such Certificateholders. The Certificate Administrator shall include on each Distribution Date
Statement a statement that each Certificateholder may (i) access such notices via the Certificate Administrator’s Website
and (ii) register to receive electronic mail notifications when such notices are posted thereon. Notwithstanding the foregoing,
the Certificateholder’s direction to remove the Special Servicer shall not apply to any Serviced AB Whole Loan that is not
subject to an AB Control Appraisal Period or to any Servicing Shift Whole Loan.

 

A Serviced AB Whole Loan
Controlling Holder shall have the right, prior to the occurrence and continuance of an AB Control Appraisal Period, to replace
the Special Servicer solely with respect to the related Serviced AB Whole Loan, so long as (A) each Rating Agency delivers
a Rating Agency Confirmation; (B) the successor special servicer has assumed in writing (from and after the date such successor
special servicer becomes the Special Servicer) all of the responsibilities, duties and liabilities of the Special Servicer under
this Agreement from and after the date it becomes the Special Servicer as they relate to any Serviced AB Whole Loan pursuant to
an assumption agreement reasonably satisfactory to the Certificate Administrator; and (C) the Certificate Administrator shall
have received an opinion of counsel reasonably satisfactory to the Certificate Administrator to the effect that (x) the designation
of such replacement to serve as Special Servicer is in compliance with this Agreement, (y) such replacement will be bound
by the terms of this Agreement with respect to any Serviced AB Whole Loan and (z) subject to customary qualifications and
exceptions, this Agreement will be enforceable against such replacement in accordance with the terms hereof.

 

The parties hereto acknowledge
that, notwithstanding anything to the contrary contained in this section, in accordance with the related Intercreditor Agreement,
if a servicer termination event on the part of a Non-Serviced Special Servicer under a Non-Serviced PSA remains unremedied
and affects the holder of the related Non-Serviced Mortgage Loan, and the related Non-Serviced Special Servicer has not
otherwise been terminated, the holder of the related Non-Serviced Mortgage Loan (or the Trustee, acting at the direction of
the Directing Certificateholder) will be entitled to direct the related Non-Serviced Trustee to terminate the related Non-Serviced
Special Servicer solely with respect to the related Non-Serviced Whole Loan. The appointment (or replacement) of the applicable
Non-Serviced Special Servicer with respect to a Non-Serviced Whole Loan will in any event be subject to Rating Agency Confirmation
from each Rating Agency. A replacement special servicer will be selected by the related Non-Serviced Trustee or, prior to the
occurrence and continuance of a control termination event under the related Non-Serviced PSA, by the related Non-Serviced
Whole Loan Controlling Holder; provided, however, that any successor special servicer appointed to replace the Special
Servicer with respect to such Non-Serviced Whole Loan cannot at any time be the Person (or an Affiliate thereof) that was terminated
at the direction of the holder of such Non-Serviced Mortgage Loan, without the prior written consent of the Directing Certificateholder.

 

If at any time the Operating
Advisor determines, in its sole discretion exercised in good faith, that (i) the Special Servicer is not performing its duties
as required hereunder or is otherwise not acting in accordance with the Servicing Standard, and (ii) the replacement of the

 

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Special
Servicer would be in the best interest of the Certificateholders as a collective whole, the Operating Advisor shall deliver to
the Trustee and the Certificate Administrator, with a copy to the Special Servicer, a written report in the form of Exhibit W
attached hereto, setting forth the reasons supporting its recommendation (along with any information the Operating Advisor considered
relevant to its recommendation) and recommending a replacement Special Servicer (which form may be modified or supplemented from
time to time to cure any ambiguity or error or to incorporate any additional information, subject to compliance of such form with
the terms and provisions of this Agreement; provided, further, that in no event shall the information or any other
content included in such written recommendation contravene any provision of this Agreement) detailing the reasons supporting its
recommendation (along with relevant information justifying its recommendation) and recommending a suggested replacement special
servicer to assume the duties of the Special Servicer, which shall be a Qualified Replacement Special Servicer. In such event,
the Certificate Administrator shall promptly post notice to all Certificateholders of such recommendation and the related report
on the Certificate Administrator’s Website in accordance with Section 3.13(b), and concurrently by mail conduct the
solicitation of votes of all Certificates in such regard. Upon (i) the affirmative vote of Holders of Principal Balance Certificates
evidencing at least a majority of a quorum of Certificateholders (which quorum, for this purpose, is the Holders of Certificates
that (A) evidence at least 20% of the Voting Rights (taking into account the application of any Cumulative Appraisal Reduction
Amounts to notionally reduce the respective Certificate Balances of such Certificates) of all Principal Balance Certificates on
an aggregate basis within 180 days of posting of the Operating Advisor’s recommendation to the Certificate Administrator’s
Website, and if not so received, such votes shall be null and void ab initio, and (B) consist of at least three Certificateholders
or Certificate Owners that are not Risk Retention Affiliated with each other) and (ii) receipt by the Certificate Administrator
following satisfaction of the foregoing clause (i) of Rating Agency Confirmation from each Rating Agency and confirmation
from the applicable rating agencies that such appointment (or replacement) will not result in the downgrade, withdrawal or qualification
of the then current ratings of any class of any related Serviced Pari Passu Companion Loan Securities, the Trustee shall (i) terminate
all of the rights and obligations of the Special Servicer under this Agreement and appoint a successor special servicer approved
by the holders of Certificates evidencing at least a majority of a quorum of Certificateholders (as set forth above) and (ii) promptly
notify such outgoing Special Servicer of the effective date of such termination. The reasonable out-of-pocket costs and
expenses (including reasonable legal fees and expenses of outside counsel) associated with obtaining such Rating Agency Confirmations
and administering such vote and the Operating Advisor’s identification of a Qualified Replacement Special Servicer shall
be an additional expense of the Trust. In the event that the Trustee does not receive at least a majority of the requested votes,
then the Trustee shall have no obligation to remove the Special Servicer. Prior to the appointment of any replacement special servicer,
such replacement special servicer shall have agreed to succeed to the obligations of the Special Servicer under this Agreement
and to act as the Special Servicer’s successor hereunder. Notwithstanding the foregoing, the Operating Advisor shall not
be permitted to recommend the replacement of the Special Servicer with respect to a Serviced AB Whole Loan so long as the related
Serviced Companion Noteholder is not subject to an AB Control Appraisal Period under the related Intercreditor Agreement or with
respect to any Servicing Shift Whole Loan. For the sake of clarity, the recommendation of replacement of the Special Servicer by
the Operating Advisor and the approval of the Certificateholders of such Qualified Replacement Special Servicer shall not preclude
the Directing Certificateholder from appointing a replacement 

 

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special servicer, provided that such replacement may not be
the removed Special Servicer or its Affiliate.

 

No penalty or fee shall
be payable to the terminated Special Servicer with respect to any termination pursuant to this Section 7.01(d). All costs
of any such termination made by the Directing Certificateholder without cause shall be paid by the Holders of the Controlling Class.

 

For the avoidance of
doubt, the indemnification of the Operating Advisor in Section 6.04 shall include, subject to the limitations set forth
in Section 6.04, any action or claim arising from, or relating to, the Operating Advisor’s determination under this
Section 7.01(d) (regarding removal of the Special Servicer), or the result of the vote of the Certificateholders (regarding
removal of the Special Servicer).

 

(e)          
The Master Servicer and the Special Servicer shall, as the case may be, from time to time, take all such reasonable actions
as are required by it in accordance with the related Servicing Standard in order to prevent the Certificates from being placed
on “watch” status or downgraded due to servicing or special servicing, as applicable, concerns by any Rating Agency
with respect to the Master Servicer or Special Servicer. In no event shall the remedy for a breach of the foregoing covenant extend
beyond termination pursuant to Section 7.01(a)(viii) and the resulting operation of Section 7.01(b) and (c).
The operation of this subsection (e) shall not be construed to limit the effect of Section 7.01(a)(viii).

 

(f)          
Notwithstanding the foregoing, (1) if any Servicer Termination Event on the part of the Master Servicer affects a Serviced
Companion Loan, the related holder of a Serviced Companion Loan or the rating on any Serviced Companion Loan Securities, and if
the Master Servicer is not otherwise terminated, or (2) if a Servicer Termination Event on the part of the Master Servicer
affects only a Serviced Companion Loan, the related holder of a Serviced Companion Loan or the rating on any Serviced Companion
Loan Securities, then the Master Servicer may not be terminated by or at the direction of the related holder of such Serviced Companion
Loan or the holders of any Serviced Companion Loan Securities, but upon the written direction of the related holder of such Serviced
Companion Loan, the Master Servicer shall be required to appoint a sub-servicer that will be responsible for servicing the related
Serviced Whole Loan.

 

(g)          
Notwithstanding anything to the contrary contained in this Section 7.01, with respect to any Excluded Special Servicer
Loan, if any, the Special Servicer shall resign as Special Servicer of that Excluded Special Servicer Loan. Prior to the occurrence
and continuance of a Control Termination Event, if the applicable Excluded Special Servicer Loan is not also an Excluded Loan,
the Directing Certificateholder shall select an Excluded Special Servicer, as successor to the resigning Special Servicer, for
the related Excluded Special Servicer Loan in accordance with this Agreement. After the occurrence and during the continuance of
a Control Termination Event or if at any time the applicable Excluded Special Servicer Loan is also an Excluded Loan, the resigning
Special Servicer shall use commercially reasonable efforts to appoint the related Excluded Special Servicer. The Special Servicer
shall not have any liability with respect to the actions or inactions of the applicable Excluded Special Servicer or with respect
to the identity of the applicable Excluded Special Servicer. It shall be a condition to any such appointment that (i) the
Rating Agencies confirm that the appointment would not result in a

 

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qualification, downgrade or withdrawal of any of their then-current
ratings of the Certificates and each NRSRO hired to provide ratings with respect to any Serviced Companion Loan Securities makes
the equivalent confirmation, (ii) the related Excluded Special Servicer is a Qualified Replacement Special Servicer and (iii) the
related Excluded Special Servicer delivers to the Depositor and the Certificate Administrator and any applicable Other Depositor
and Other Certificate Administrator, the information, if any, required under Item 6.02 of Form 8-K pursuant to the
Exchange Act regarding itself in its role as Excluded Special Servicer.

 

If at any time the Special
Servicer that had previously acted as the Special Servicer is no longer a Borrower Party with respect to an Excluded Special Servicer
Loan (including, without limitation, as a result of the related Mortgaged Property becoming REO Property), (1) the related
Excluded Special Servicer shall resign, (2) the related Mortgage Loan or Serviced Whole Loan shall no longer be an Excluded
Special Servicer Loan, (3) such original Special Servicer shall become the Special Servicer again for such related Mortgage
Loan or Serviced Whole Loan and (4) such original Special Servicer shall be entitled to all special servicing compensation
with respect to such Mortgage Loan or Serviced Whole Loan earned during such time on and after such Mortgage Loan or Serviced Whole
Loan is no longer an Excluded Special Servicer Loan.

 

The applicable Excluded
Special Servicer shall perform all of the obligations of the Special Servicer for the related Excluded Special Servicer Loan and
shall be entitled to all special servicing compensation with respect to such Excluded Special Servicer Loan earned during such
time as the related Mortgage Loan or Serviced Whole Loan is an Excluded Special Servicer Loan (provided that the Special
Servicer shall remain entitled to all other special servicing compensation with respect to all Mortgage Loans and Serviced Whole
Loans that are not Excluded Special Servicer Loans during such time).

 

If a Servicing Officer
of the Master Servicer, a related Excluded Special Servicer, or the Special Servicer, as the case may be, has actual knowledge
that a Mortgage Loan is no longer an Excluded Loan or an Excluded Special Servicer Loan, as applicable, the Master Servicer, the
related Excluded Special Servicer or the Special Servicer, as the case may be, shall provide prompt written notice thereof to each
of the other parties to this Agreement.

 

Section 7.02       
Trustee to Act; Appointment of Successor. On and after the time the Master Servicer or the Special Servicer, as the
case may be, either resigns pursuant to subsection (a) of the first sentence of Section 6.05 or receives a notice of
termination for cause pursuant to Section 7.01(b), and provided that no acceptable successor has been appointed within
the time period specified in Section 7.01(c), the Trustee shall be the successor to such party, until such successor to
that Master Servicer or that Special Servicer, as applicable, is appointed as provided in this Section 7.02 or by the Directing
Certificateholder as provided in Section 7.01(d), as applicable, in all respects in its capacity as the Master Servicer
or the Special Servicer, as applicable, under this Agreement and the transactions set forth or provided for herein and shall be
subject to, and have the benefit of, all of the rights, (subject to Section 3.11 and Section 6.04) benefits, responsibilities,
duties, liabilities and limitations on liability relating thereto and that arise thereafter placed on or for the benefit of the
Master Servicer or Special Servicer, as applicable, by the terms and provisions hereof; provided, however, that any
failure to perform such duties or responsibilities caused by the terminated party’s failure under Section 7.01 to
provide information or moneys required hereunder shall not be considered a default by such successor hereunder. The

 

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appointment
of a successor master servicer shall not affect any liability of the predecessor Master Servicer which may have arisen prior to
its termination as Master Servicer, and the appointment of a successor special servicer shall not affect any liability of the predecessor
Special Servicer which may have arisen prior to its termination as Special Servicer. The Trustee in its capacity as successor to
the Master Servicer or the Special Servicer, as the case may be, shall not be liable for any of the representations and warranties
of the Master Servicer or the Special Servicer, as applicable, herein or in any related document or agreement, for any acts or
omissions of the predecessor master servicer or special servicer or for any losses incurred by the predecessor Master Servicer
pursuant to Section 3.06 hereunder, nor shall the Trustee be required to purchase any Mortgage Loan hereunder solely as
a result of its obligations as successor master servicer or special servicer, as the case may be. Subject to Section 3.11,
as compensation therefor, the Trustee as successor master servicer shall be entitled to the Servicing Fees and all fees relating
to the Mortgage Loans or the Companion Loans which that Master Servicer would have been entitled to if the Master Servicer had
continued to act hereunder, including but not limited to any income or other benefit from any Permitted Investment pursuant to
Section 3.06, and subject to Section 3.11, and the Trustee as successor to the Special Servicer shall be entitled
to the Special Servicing Fees to which the Special Servicer would have been entitled if the Special Servicer had continued to act
hereunder. Should the Trustee succeed to the capacity of the Master Servicer or the Special Servicer, as the case may be, the Trustee
shall be afforded the same standard of care and liability as the Master Servicer or the Special Servicer, as applicable, hereunder
notwithstanding anything in Section 8.01 to the contrary, but only with respect to actions taken by it in its role as successor
master servicer or successor special servicer, as the case may be, and not with respect to its role as Trustee hereunder. Notwithstanding
the above, the Trustee may, if it shall be unwilling to act as successor to that Master Servicer or that Special Servicer, as applicable,
or shall, if it is unable to so act, or if the Trustee is not approved as a servicer by each Rating Agency, or if the Directing
Certificateholder (solely with respect to the Special Servicer) ((i) prior to the occurrence and continuance of a Control
Termination Event and (ii) other than with respect to any Excluded Loan) or the Holders of Certificates entitled to more than
50% of the Voting Rights so request in writing to the Trustee, promptly appoint, or petition a court of competent jurisdiction
to appoint, any established mortgage loan servicing institution which meets the criteria set forth in Section 6.05 and otherwise
herein, as the successor to that Master Servicer or that Special Servicer, as applicable, hereunder in the assumption of all or
any part of the responsibilities, duties or liabilities of the Master Servicer or the Special Servicer hereunder. No appointment
of a successor to the Master Servicer or the Special Servicer hereunder shall be effective until (i) the assumption in writing
by the successor to the Master Servicer or the Special Servicer of all its responsibilities, duties and liabilities hereunder that
arise thereafter, (ii) receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating
agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced
Companion Loan Securities, if any (provided that such rating agency confirmation may be considered satisfied in the same
manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25),
(iii) such appointment (solely with respect to the Special Servicer) has been approved (prior to the occurrence and continuance
of a Control Termination Event) by the Directing Certificateholder, such approval not to be unreasonably withheld and (iv) the
Certificate Administrator shall have filed any required Form 8-K pursuant to Section 11.07 hereof and any other
Form 8-K filings have been completed with respect to any related Companion Loan. Pending appointment of a successor to
the Master

 

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Servicer or the Special Servicer hereunder, unless the Trustee shall be prohibited by law from so acting, the Trustee
shall act in such capacity as herein above provided. In connection with such appointment and assumption of a successor to the Master
Servicer or the Special Servicer as described herein, the Trustee may make such arrangements for the compensation of such successor
out of payments on the Mortgage Loans as it and such successor shall agree; provided, however, that no such compensation
with respect to a successor master servicer or successor special servicer, as the case may be, shall be in excess of that permitted
the terminated Master Servicer or Special Servicer, as the case may be, hereunder. The Trustee, the non-terminated Master Servicer
or the non-terminated Special Servicer and such successor shall take such action, consistent with this Agreement, as shall be necessary
to effectuate any such succession. Any reasonable out-of-pocket costs and expenses associated with the transfer of the
servicing function (other than with respect to a termination without cause) under this Agreement shall be borne by the predecessor
Master Servicer or Special Servicer, as applicable. If such predecessor Master Servicer or Special Servicer (as the case may be)
has not reimbursed the party requesting such termination or the successor master servicer or special servicer for such expenses
within 90 days after the presentation of reasonable documentation, such expense shall be reimbursed by the Trust; provided
that the terminated Master Servicer or Special Servicer shall not thereby be relieved of its liability for such expenses. If and
to the extent that the terminated Master Servicer or Special Servicer has not reimbursed such costs and expenses, the party requesting
such termination shall have an affirmative obligation to take all reasonable actions to collect such expenses on behalf of the
Trust. In the event of a termination without cause, such costs and expenses shall be borne by the party requesting such termination,
or as otherwise set forth herein; provided that the Certificate Administrator and the Trustee shall not bear any such costs
and expenses. For the avoidance of doubt, if the Trustee is terminating the Master Servicer or the Special Servicer in accordance
with this Agreement at the direction of any party or parties permitted to direct the Trustee to so terminate the Master Servicer
or the Special Servicer pursuant to this Agreement, the Trustee shall not have any liability for such expenses pursuant to this
paragraph.

 

Section 7.03       
Notification to Certificateholders. (a) Upon any resignation of the Master Servicer or the Special Servicer
pursuant to Section 6.05, any termination of the Master Servicer or the Special Servicer pursuant to Section 7.01
or any appointment of a successor to the Master Servicer or the Special Servicer pursuant to Section 7.02, the Certificate
Administrator shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the Certificate
Register.

 

(b)          
Not later than the later of (i) sixty (60) days after the occurrence of any event which constitutes or, with notice
or lapse of time or both, would constitute a Servicer Termination Event and (ii) five (5) days after the Certificate
Administrator would be deemed to have notice of the occurrence of such an event in accordance with Section 8.02(vii), the
Certificate Administrator shall transmit by mail to the Depositor and all Certificateholders (and, if a Serviced Whole Loan is
affected, the related Serviced Companion Noteholder) notice of such occurrence, unless such default shall have been cured.

 

Section
7.04        Waiver of Servicer Termination
Events. The Holders of Certificates representing at least 66-2/3% of the Voting Rights allocated to each Class of
Certificates affected by any Servicer Termination Event hereunder may waive such Servicer Termination Event; provided, however,
that a Servicer Termination Event under clause (i), (ii) or (viii) of Section

 

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7.01(a)
may be waived only with the consent of all of the Certificateholders of the affected Classes, and a Servicer Termination Event
under clause (iii) of Section 7.01(a) (with respect to obligations under Article XI) may be waived only
with the consent of the Depositor. Upon any such waiver of a Servicer Termination Event, subject to the rights of any affected
holder of a Serviced Companion Loan under Section 7.01(c) or Section 7.01(f), such Servicer Termination Event shall
cease to exist and shall be deemed to have been remedied for every purpose hereunder. Upon any such waiver of a Servicer Termination
Event by Certificateholders, the Trustee and the Certificate Administrator shall be entitled to recover all costs and expenses
incurred by it in connection with enforcement action taken with respect to such Servicer Termination Event prior to such waiver
from the Trust. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent
thereon except to the extent expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving
any Servicer Termination Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any
Affiliate of the Depositor shall be entitled to the same Voting Rights with respect to the matters described above as they would
if any other Person held such Certificates.

 

Section 7.05       
Trustee as Maker of Advances. In the event that the Master Servicer fails to fulfill its obligations hereunder to
make any Advances and such failure remains uncured, the Trustee shall perform such obligations (x) within five (5) Business
Days following such failure by the Master Servicer with respect to Servicing Advances resulting in a Servicer Termination Event
under Section 7.01(a)(iii) to the extent a Responsible Officer of the Trustee has actual knowledge of such failure with
respect to such Servicing Advances and (y) by noon, New York City time, on the related Distribution Date with respect to P&I
Advances pursuant to the Certificate Administrator’s notice of failure pursuant to Section 4.03(a) unless such failure
has been cured. With respect to any such Advance made by the Trustee, the Trustee shall succeed to all of the Master Servicer’s
rights with respect to Advances hereunder, including, without limitation, the Master Servicer’s rights of reimbursement and
interest on each Advance at the Reimbursement Rate, and rights to determine that a proposed Advance is a Nonrecoverable P&I
Advance or Servicing Advance, as the case may be, (without regard to any impairment of any such rights of reimbursement caused
by the Master Servicer’s default in its obligations hereunder); provided, however, that if Advances made by
the Trustee and the Master Servicer shall at any time be outstanding, or any interest on any Advance shall be accrued and unpaid,
all amounts available to repay such Advances and the interest thereon hereunder shall be applied entirely to the Advances outstanding
to the Trustee, until such Advances shall have been repaid in full, together with all interest accrued thereon, prior to reimbursement
of the Master Servicer for such Advances. The Trustee shall be entitled to conclusively rely on any notice given with respect to
a Nonrecoverable Advance hereunder.

 

[End of Article VII]

 

ARTICLE
VIII

CONCERNING THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR

 

Section 8.01       
Duties of the Trustee and the Certificate Administrator. (a) The Trustee and the Certificate Administrator,
prior to the occurrence of a Servicer Termination Event and after the curing or waiving of all Servicer Termination Events which
may have occurred,

 

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undertake to perform such duties and only such duties as are specifically set forth in this Agreement. If a
Servicer Termination Event occurs and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Agreement, and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances
in the conduct of his own affairs. Any permissive right of the Trustee and the Certificate Administrator contained in this Agreement
shall not be construed as a duty.

 

(b)         
The Trustee or the Certificate Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports,
documents, orders or other instruments furnished to the Trustee or the Certificate Administrator which are specifically required
to be furnished pursuant to any provision of this Agreement (other than the Mortgage Files, the review of which is specifically
governed by the terms of Article II, the Diligence Files, any CREFC® reports and any information delivered
for posting to the Certificate Administrator’s Website or the 17g-5 Information Provider’s Website), shall examine
them to determine whether they conform to the requirements of this Agreement. If any such instrument is found not to conform to
the requirements of this Agreement in a material manner, the Trustee or the Certificate Administrator shall notify the party providing
such instrument and requesting the correction thereof. The Trustee or the Certificate Administrator shall not be responsible for
the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished
by the Depositor, the Master Servicer or the Special Servicer or another Person, and accepted by the Trustee or the Certificate
Administrator in good faith, pursuant to this Agreement.

 

(c)          
No provision of this Agreement shall be construed to relieve the Trustee or the Certificate Administrator from liability
for its own negligent action, its own negligent failure to act or its own willful misconduct or bad faith; provided, however,
that:

 

(i)           
Prior to the occurrence of a Servicer Termination Event, and after the curing of all such Servicer Termination Events which
may have occurred, the duties and obligations of the Trustee and the Certificate Administrator shall be determined solely by the
express provisions of this Agreement, the Trustee and the Certificate Administrator shall not be liable except for the performance
of such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read
into this Agreement against the Trustee and the Certificate Administrator and, in the absence of bad faith on the part of the Trustee
and the Certificate Administrator, the Trustee and the Certificate Administrator may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee or
the Certificate Administrator and conforming to the requirements of this Agreement;

 

(ii)          
Neither the Trustee nor the Certificate Administrator, as applicable, shall be liable for an error of judgment made in good
faith by a Responsible Officer or Responsible Officers of the Trustee or the Certificate Administrator, respectively, unless it
shall be proved that the Trustee or the Certificate Administrator, as applicable, was negligent in ascertaining the pertinent facts;
and

 

(iii)         
Neither the Trustee nor the Certificate Administrator, as applicable, shall be liable with respect to any action taken,
suffered or omitted to be taken by it in good faith

 

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in accordance with the direction of Holders of Certificates entitled to greater
than 25% (i) of the Percentage Interest of each affected Class, or (ii) if each Class is an affected Class of the aggregate
Voting Rights of the Certificates, relating to the time, method and place of conducting any proceeding for any remedy available
to the Trustee or the Certificate Administrator, or exercising any trust or power conferred upon the Trustee or the Certificate
Administrator, under this Agreement (unless a higher percentage of Voting Rights is required for such action).

 

(d)          
The Certificate Administrator shall make available via its internet website initially located at www.ctslink.com to the
Serviced Companion Noteholders all reports that the Certificate Administrator has made available to Certificateholders under this
Agreement to the extent such reports relate to the related Serviced Companion Loan and upon the submission of an Investor Certification
pursuant to this Agreement.

 

Section 8.02       
Certain Matters Affecting the Trustee and the Certificate Administrator. Except as otherwise provided in Section
8.01:

 

(i)            
The Trustee and the Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon
any resolution, direction of the Depositor, Officer’s Certificate, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, Appraisal, bond or other paper or document reasonably believed by
it to be genuine and to have been signed or presented by the proper party or parties;

 

(ii)          
The Trustee and the Certificate Administrator may consult with counsel and the advice of such counsel or any Opinion of
Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder
in good faith and in accordance therewith;

 

(iii)         
Neither the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers
vested in it by this Agreement or the Certificates or to make any investigation of matters arising hereunder or to institute, conduct
or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant
to the provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator,
as applicable, security or indemnity reasonably satisfactory to it, against the costs, expenses and liabilities which may be incurred
therein or thereby; neither the Trustee nor the Certificate Administrator shall be required to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights
or powers, unless repayment of such funds or indemnity reasonably satisfactory to it against such risk or liability is reasonably
assured to it; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of a Servicer
Termination Event which has not been cured, to exercise such of the rights and powers vested in it by this Agreement, and to use
the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct
of his own affairs;

 

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(iv)         
Neither the Trustee nor the Certificate Administrator shall be liable for any action reasonably taken, suffered or omitted
by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this
Agreement;

 

(v)          
Prior to the occurrence of a Servicer Termination Event hereunder and after the curing of all Servicer Termination Events
which may have occurred, neither the Trustee nor the Certificate Administrator shall be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order,
approval, bond or other paper or document, unless requested in writing to do so by Holders of Certificates entitled to more than
50% of the Voting Rights; provided, however, that if the payment within a reasonable time to the Trustee or the Certificate
Administrator of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee or the Certificate Administrator, respectively, not reasonably assured to the Trustee or the Certificate
Administrator by the security afforded to it by the terms of this Agreement, the Trustee or the Certificate Administrator, respectively,
may require indemnity reasonably satisfactory to it from such requesting Holders against such expense or liability as a condition
to taking any such action. The reasonable expense of every such reasonable examination shall be paid by the requesting Holders;

 

(vi)         
The Trustee or the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder
either directly or by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys
shall not relieve the Trustee or the Certificate Administrator of its duties or obligations hereunder; provided, further,
that the Trustee or the Certificate Administrator, as the case may be, may not perform any duties hereunder through any Person
that is a Prohibited Party;

 

(vii)        
For all purposes under this Agreement, none of the Trustee, the Custodian or the Certificate Administrator shall be deemed
to have actual knowledge or notice of any Servicer Termination Event or Asset Representations Reviewer Termination Event or any
act, failure or breach of any Person upon the occurrence of which the Trustee or Certificate Administrator may be required to
act unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable, has actual knowledge thereof
or unless written notice of any event, act, failure or breach, as applicable, which is in fact such a default is received by the
Trustee or the Certificate Administrator at the respective Corporate Trust Office, and such notice references the Certificates
or this Agreement;

 

(viii)        Neither the Trustee nor the Certificate Administrator shall be responsible for any act or omission of the Master Servicer
or the Special Servicer (unless the Trustee is acting as the Master Servicer or the Special Servicer, as the case may be, in which
case the Trustee shall only be responsible for its own actions as the Master Servicer or the Special Servicer) or of the Depositor,
the Operating Advisor or the Asset Representations Reviewer;

 

(ix)          Neither the Trustee nor the Certificate Administrator shall in any way be liable by reason of any insufficiency in the Trust
Fund unless it is determined by a court of

 

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competent jurisdiction that the Trustee’s or Certificate Administrator’s,
as applicable, negligence or willful misconduct was the primary cause of such insufficiency;

 

(x)          
In no event shall the Trustee or the Certificate Administrator be liable for any failure or delay in the performance of
its obligations hereunder due to force majeure or acts of God; provided that such failure or delay is not also a result
of its own negligence, bad faith or willful misconduct;

 

(xi)          Nothing herein shall require the Trustee or the Certificate Administrator to act in any manner that is contrary to applicable
law; and

 

(xii)         Nothing herein shall be construed as an obligation for any party to this Agreement to advise a Certificateholder with respect
to its rights and protections relative to the Trust.

 

Each of the Trustee and
the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities afforded to
it as Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including, without
limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider and Authenticating Agent).

 

Section 8.03       
Trustee and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans. The
recitals contained herein and in the Certificates, other than the acknowledgments of the Trustee or the Certificate Administrator
in Section 2.01(h) and Section 2.04 and the signature, if any, of the Certificate Registrar and Authenticating Agent
set forth on any outstanding Certificate, shall not be taken as the statements of the Trustee or the Certificate Administrator,
and the Trustee or the Certificate Administrator assume no responsibility for their correctness. Neither the Trustee nor the Certificate
Administrator makes any representations as to the validity or sufficiency of this Agreement or of any Certificate (other than as
to the signature, if any, of the Trustee or the Certificate Administrator set forth thereon) or of any Mortgage Loan or related
document. Neither the Trustee nor the Certificate Administrator shall be accountable for the use or application by the Depositor
of any of the Certificates issued to it or of the proceeds of such Certificates, or for the use or application of any funds paid
to the Depositor in respect of the assignment of the Mortgage Loans to the Trust, or any funds deposited in or withdrawn from the
Collection Account or any other account by or on behalf of the Depositor, the Master Servicer, the Special Servicer or in the case
of the Trustee, the Certificate Administrator. The Trustee and the Certificate Administrator shall not be responsible for and may
rely upon the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument
furnished by the Depositor, the Master Servicer or the Special Servicer and accepted by the Trustee or the Certificate Administrator,
in good faith, pursuant to this Agreement.

 

Section 8.04       
Trustee or Certificate Administrator May Own Certificates. The Trustee or the Certificate Administrator, each in
its individual capacity, not as Trustee or Certificate Administrator, may become the owner or pledgee of Certificates, and may
deal with the Depositor, the Master Servicer, the Special Servicer or the Underwriters in banking

 

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transactions, with the same rights
it would have if it were not Trustee or the Certificate Administrator.

 

Section 8.05       
Fees and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and Certificate Administrator.
(a) As compensation for the performance of their respective duties hereunder, the Trustee will be paid the Trustee Fee, which shall
cover recurring and otherwise reasonably anticipated expenses of the Trustee, and the Certificate Administrator will be paid the
Certificate Administrator Fee equal to the Certificate Administrator’s portion of one month’s interest at the Certificate
Administrator Fee Rate, which shall cover recurring and otherwise reasonably anticipated expenses of the Certificate Administrator.
The Trustee Fee and Certificate Administrator Fee shall be paid monthly on a Mortgage Loan-by-Mortgage Loan basis. As to
each Mortgage Loan and REO Loan (other than the portion of an REO Loan related to any Companion Loan), the Certificate Administrator
shall pay to the Trustee monthly the Trustee Fee from the Certificate Administrator Fee, which Certificate Administrator Fee shall
accrue from time to time at the Certificate Administrator Fee Rate and the Certificate Administrator Fee shall be computed in the
same manner as interest is calculated thereon and for the same period respecting which any related interest payment due or deemed
thereon is computed. The Trustee Fee (which shall not be limited to any provision of law in regard to the compensation of a trustee
of an express trust) shall constitute the Trustee’s sole form of compensation for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance of any of the powers and duties of the Trustee hereunder, except
for the reimbursement of expenses specifically provided for herein. The Certificate Administrator Fee shall constitute the Certificate
Administrator’s sole form of compensation for the exercise and performance of its powers and duties hereunder, except for
the reimbursement of expenses specifically provided for herein. No Trustee Fee or Certificate Administrator Fee shall be payable
with respect to any Companion Loan.

 

(b)          
The Trustee, the Certificate Administrator (in each case, including in its capacity as Custodian and in its individual capacity)
and any director, officer, employee, representative or agent of the Trustee and the Certificate Administrator, respectively, shall
be entitled to be indemnified and held harmless by the Trust (to the extent of amounts on deposit in the Collection Account or
the Lower-Tier REMIC Distribution Account, as applicable, from time to time) against any loss, liability or expense (including,
without limitation, costs and expenses of litigation and of enforcement of this indemnity, and of investigation, counsel fees,
damages, judgments and amounts paid in settlement, and expenses incurred in becoming the successor to the Master Servicer or the
Special Servicer, to the extent not otherwise paid hereunder) arising out of, or incurred in connection with, any act or omission
of the Trustee or the Certificate Administrator, respectively, relating to the exercise and performance of any of the powers, rights
and duties of the Trustee or the Certificate Administrator, respectively (including in any capacities in which they serve, such
as paying agent, REMIC Administrator, Authenticating Agent, Custodian, Certificate Registrar, and 17g-5 Information Provider)
hereunder; provided, however, that none of the Trustee or the Certificate Administrator, nor any of the other above
specified Persons shall be entitled to indemnification pursuant to this Section 8.05(b) for (i) allocable overhead,
(ii) expenses or disbursements incurred or made by or on behalf of the Trustee or the Certificate Administrator, respectively,
in the normal course of the Trustee or the Certificate Administrator, respectively, performing its duties in accordance with any
of the provisions hereof, which are not “unanticipated expenses of the REMIC” within the meaning of Treasury Regulations

 

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Section 1.860G-1(b)(3)(ii), (iii) any expense or liability specifically required to be borne thereby pursuant to
the terms hereof or (iv) any loss, liability or expense incurred by reason of willful misconduct, bad faith or negligence
in the performance of the Trustee’s or the Certificate Administrator’s, respectively, obligations and duties hereunder,
or by reason of negligent disregard of such obligations or duties, or as may arise from a breach of any representation or warranty
of the Trustee specified in Section 8.12 or the Certificate Administrator specified in Section 8.14, respectively,
made herein. The provisions of this Section 8.05(b) shall survive the termination of this Agreement and any resignation
or removal of the Trustee or the Certificate Administrator, respectively, and appointment of a successor thereto. The foregoing
indemnity shall also apply to the Certificate Administrator in all of its capacities hereunder, including Custodian, Certificate
Registrar and Authenticating Agent.

 

(c)          
The Certificate Administrator shall indemnify and hold harmless the Depositor and Mortgage Loan Sellers from and against
any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs
and expenses incurred by the Depositor, any Mortgage Loan Seller or its Affiliates that arise out of or are based upon (i) a
breach by the Certificate Administrator, in its capacity as 17g-5 Information Provider or in any other capacity in which the
Certificate Administrator is required to make available information to a Privileged Person that is an NRSRO, of its obligations
under this Agreement or (ii) negligence, bad faith or willful misconduct on the part of the Certificate Administrator, in
its capacity as 17g-5 Information Provider or in any other capacity in which the Certificate Administrator is required to make
available information to a Privileged Person that is an NRSRO, in the performance of such obligations or its negligent disregard
of its obligations and duties under this Agreement.

 

Section 8.06       
Eligibility Requirements for Trustee and Certificate Administrator. Each of the Trustee and the Certificate Administrator
hereunder shall at all times be, and will be required to resign if it fails to be, (i) a corporation, national bank, national
banking association or a trust company, organized and doing business under the laws of any state or the United States of America,
authorized under such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement, having a
combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority and
in the case of the Trustee, shall not be an Affiliate of the Master Servicer or the Special Servicer (except during any period
when the Trustee is acting as, or has become successor to, the Master Servicer or the Special Servicer, as the case may be, pursuant
to Section 7.02), (ii) an institution insured by the Federal Deposit Insurance Corporation, (iii) an institution
whose long-term senior unsecured debt is rated at least “A-” by S&P, “A-” by Fitch and, if
rated by KBRA, “A” by KBRA; provided that the Trustee will not become ineligible to serve based on a failure
to satisfy such rating requirements as long as (a) it maintains a long-term unsecured debt rating of no less than “BBB”
by S&P and “A-” by Fitch, (b) its short-term debt obligations have a short-term rating of not
less than “A-1” from S&P and “F1” by Fitch and (c) the Master Servicer maintains a rating of at
least “A” by S&P and “A+” by Fitch; provided that nothing in this proviso shall impose on the
Master Servicer any obligation to maintain such rating; or such other rating with respect to which the Rating Agencies have provided
a Rating Agency Confirmation and (iv) an entity that is not a Prohibited Party.

 

If such corporation,
national bank or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements
of the aforesaid supervising

 

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or examining authority, then for the purposes of this Section 8.06 the combined capital and
surplus of such corporation, national bank or national banking association shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In the event the place of business from which the Certificate
Administrator administers the Trust REMICs or in which the Trustee’s office is located is in a state or local jurisdiction
that imposes a tax on the Trust on the net income of a REMIC (other than a tax corresponding to a tax imposed under the REMIC Provisions),
the Certificate Administrator or the Trustee, as applicable shall elect either to (i) resign immediately in the manner and
with the effect specified in Section 8.07, (ii) pay such tax at no expense to the Trust or (iii) administer the
Trust REMICs from a state and local jurisdiction that does not impose such a tax.

 

Section 8.07       
Resignation and Removal of the Trustee and Certificate Administrator. (a) The Trustee and the Certificate Administrator
may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the
Master Servicer, the Special Servicer and the Trustee or the Certificate Administrator, as applicable, the Operating Advisor, the
Asset Representations Reviewer, 17g-5 Information Provider and to all Certificateholders. The Certificate Administrator shall
post such notice to the Certificate Administrator’s Website in accordance with Section 3.13(b) and provide notice
of such event to the Master Servicer, the Special Servicer, the Depositor and the 17g-5 Information Provider, which shall promptly
post such notice to the 17g-5 Information Provider’s Website in accordance with Section 3.13(c). Upon receiving
such notice of resignation, the Depositor shall use its reasonable best efforts to promptly appoint a successor trustee or successor
certificate administrator acceptable to the Master Servicer and, prior to the occurrence and continuance of a Control Termination
Event, the Directing Certificateholder by written instrument, in duplicate, which instrument shall be delivered to the resigning
Trustee or Certificate Administrator and to the successor trustee or certificate administrator. A copy of such instrument shall
be delivered to the Master Servicer, the Special Servicer, the Certificateholders and the Trustee or Certificate Administrator,
as applicable, by the Depositor. If no successor trustee or certificate administrator shall have been so appointed and have accepted
appointment within ninety (90) days after the giving of such notice of resignation, the resigning Trustee or Certificate Administrator
may petition any court of competent jurisdiction for the appointment of a successor trustee or certificate administrator, as applicable,
and such petition will be an expense of the Trust.

 

(b)          
If at any time the Trustee or Certificate Administrator shall cease to be eligible in accordance with the provisions of
Section 8.06 (and in the case of the Certificate Administrator, Section 5.08) and shall fail to resign after written
request therefor by the Depositor or the Master Servicer, or if at any time the Trustee or Certificate Administrator shall become
incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or the Certificate Administrator
or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or Certificate Administrator
or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or if the Trustee or Certificate
Administrator (if different than the Trustee) shall fail to timely publish any report to be delivered, published or otherwise made
available by the Certificate Administrator pursuant to Section 4.02 and such failure shall continue unremedied for a period
of five (5) days, or if the Certificate Administrator fails to make distributions required pursuant to Section 4.01
or Section 9.01, then the Depositor may remove the Trustee or Certificate Administrator, as applicable, and appoint a successor
trustee or certificate administrator acceptable to the requesting Master Servicer, by written instrument, in

 

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duplicate, which instrument
shall be delivered to the Trustee or Certificate Administrator so removed and to the successor trustee or certificate administrator
in the case of the removal of the Trustee or Certificate Administrator. A copy of such instrument shall be delivered to the Master
Servicer, the Special Servicer and the Certificateholders by the Depositor. If no successor trustee or certificate administrator
shall have been so appointed and have accepted appointment within ninety (90) days after the giving of such notice of removal,
the removed Trustee or Certificate Administrator may petition any court of competent jurisdiction for the appointment of a successor
trustee or certificate administrator, as applicable, at the expense of the Trust.

 

(c)          
The Holders of Certificates entitled to at least 75% of the Voting Rights may, upon thirty (30) days’ prior written
notice, with or without cause, remove the Trustee or Certificate Administrator and appoint a successor trustee or certificate administrator
by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized,
one complete set of which instruments shall be delivered to the Master Servicer, one complete set to the Trustee or Certificate
Administrator so removed and one complete set to the successor so appointed. A copy of such instrument shall be delivered to the
Depositor, the Special Servicer and the remaining Certificateholders by the Master Servicer. In the event of any such termination
without cause pursuant to this Section 8.07(c), the successor trustee or certificate administrator, as applicable, shall
be responsible for all costs and expenses necessary to effect the transfer of responsibilities from its predecessor.

 

(d)          
Any resignation or removal of the Trustee or Certificate Administrator and appointment of a successor trustee or certificate
administrator pursuant to any of the provisions of this Section 8.07 shall not become effective until (i) acceptance
of appointment by the successor trustee or certificate administrator as provided in Section 8.08 and (ii) the Certificate
Administrator shall have filed any required Form 8-K pursuant to Section 11.07 and any other Form 8-K
filings have been completed with respect to any related Companion Loan. Further, the resigning Trustee or Certificate Administrator,
as the case may be, shall pay all costs and expenses associated with the transfer of its duties.

 

If the same party is
acting as Trustee and Certificate Administrator pursuant to this Agreement, any removal of either such party in its capacity as
Trustee or Certificate Administrator, as applicable, shall also result in such party’s removal in its capacity as Trustee
or Certificate Administrator, as applicable, and the Depositor shall appoint a successor certificate administrator and a successor
trustee, in each instance meeting the eligibility requirements set forth hereunder.

 

Upon any succession of
the Trustee or Certificate Administrator under this Agreement, the predecessor Trustee or Certificate Administrator shall be entitled
to the payment of accrued and unpaid compensation and reimbursement as provided for under this Agreement for services rendered
and expenses incurred (including without limitation, unreimbursed Advances). No Trustee or Certificate Administrator shall be personally
liable for any action or omission of any successor trustee or certificate administrator.

 

(e)          
Upon the resignation, assignment, merger, consolidation, or transfer of the Trustee or its business to a successor, or upon
the termination of the Trustee, (a) the outgoing Trustee shall (i) endorse the original executed Mortgage Note for each
Mortgage Loan (to the extent that the original executed Mortgage Note for each Mortgage Loan was endorsed to the

 

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outgoing trustee),
without recourse, representation or warranty, express or implied, to the order of the successor, as trustee for the registered
Holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 or in blank, and (ii) in
the case of the other assignable Mortgage Loan documents (to the extent such other Mortgage Loan documents were assigned to the
outgoing trustee), assign such Mortgage Loan documents to such successor, and such successor shall review the documents delivered
to it or to the Custodian with respect to each Mortgage Loan, and certify in writing that, as to each Mortgage Loan then subject
to this Agreement, such endorsement and assignment has been made; (b) if any original executed Mortgage Note for a Mortgage
Loan was not endorsed to the outgoing trustee, the Custodian shall, upon its receipt of a Request for Release, deliver such Mortgage
Note to the Depositor or the successor trustee, as requested, and the Master Servicer and the Depositor shall cooperate with any
successor trustee to ensure that such Mortgage Note is endorsed (without recourse, representation or warranty, express or implied)
to the order of the successor, as trustee for the registered Holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through
Certificates, Series 2019-C3 or in blank; provided, however, that, notwithstanding anything to the contrary herein,
to the extent that any such endorsement of such Mortgage Note requires the signature of the related Mortgage Loan Seller in order
to comply with the foregoing, then the Master Servicer shall use reasonable efforts to cause the related Mortgage Loan Seller to
execute such endorsement; (c) if any other assignable Mortgage Loan document was not assigned to the outgoing trustee, the
Custodian shall, upon its receipt of a Request for Release, deliver such Mortgage Loan document to the Depositor or the successor
trustee, as requested, and the Master Servicer and the Depositor shall cooperate with any successor trustee to ensure that such
Mortgage Loan document is assigned to such successor trustee; and (d) in any case, such successor trustee shall review the
documents delivered to it or to the Custodian with respect to each Mortgage Loan, and certify in writing that, as to each Mortgage
Loan then subject to this Agreement, such endorsements and assignments have been made or, in the event such endorsement or assignment
cannot be made for any reason, to note the same in such certification.

 

(f)          
Neither the Asset Representations Reviewer nor any of its Affiliates may be appointed as successor trustee or certificate
administrator.

 

Section 8.08       
Successor Trustee or Certificate Administrator. (a) Any successor trustee or certificate administrator appointed
as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Master Servicer, the Special Servicer
and to its predecessor Trustee or Certificate Administrator an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor Trustee or Certificate Administrator shall become effective and such successor trustee
or certificate administrator without any further act, deed or conveyance, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor hereunder, with the like effect as if originally named as Trustee or Certificate Administrator
herein. The predecessor Trustee shall deliver to the successor trustee all Mortgage Files and related documents and statements
held by it hereunder (other than any Mortgage Files at the time held on its behalf by the Custodian, which Custodian, at Custodian’s
option shall become the agent of the successor trustee), and the Depositor, the Master Servicer, the Special Servicer and the predecessor
Trustee shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and certainly
vest and confirm in the successor trustee all such rights, powers, duties and obligations, and to enable the successor trustee
to perform its obligations hereunder.

 

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(b)          
No successor trustee or successor certificate administrator shall, as applicable, accept appointment as provided in this
Section 8.08 unless at the time of such acceptance such successor trustee or successor certificate administrator, as applicable,
shall be eligible under the provisions of Section 8.06.

 

(c)          
Upon acceptance of appointment by a successor trustee or successor certificate administrator as provided in this Section
8.08, the Master Servicer shall deliver notice of the succession of such Trustee or Certificate Administrator, as applicable,
to the Depositor and the Certificateholders. If the Master Servicer fails to deliver such notice within ten (10) days after
acceptance of appointment by the successor trustee or successor certificate administrator, as applicable, such successor trustee
or successor certificate administrator shall cause such notice to be delivered at the expense of the Master Servicer.

 

Section 8.09       
Merger or Consolidation of Trustee or Certificate Administrator. Any Person into which the Trustee or the Certificate
Administrator may be merged or converted or with which it may be consolidated or any Person resulting from any merger, conversion
or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person succeeding to all or substantially
all of the corporate trust business of the Trustee or the Certificate Administrator shall be the successor of the Trustee or the
Certificate Administrator, as applicable, hereunder; provided that, in the case of the Trustee, such successor person shall
be eligible under the provisions of Section 8.06, without the execution or filing of any paper or any further act on the
part of any of the parties hereto, anything herein to the contrary notwithstanding. The Certificate Administrator shall post such
notice to the Certificate Administrator’s Website in accordance with Section 3.13(b) and shall provide notice of such
event to the Master Servicer, the Special Servicer, the Depositor and the 17g-5 Information Provider, which shall post such
notice to the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

Section 8.10       
Appointment of Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions hereof, at any time,
for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing
the same may at the time be located, the Master Servicer and the Trustee acting jointly shall have the power and shall execute
and deliver all instruments to appoint one or more Persons approved by the Trustee to act as co-trustee or co-trustees,
jointly with the Trustee, or separate trustee or separate trustees, of all or any part of the Trust Fund, and to vest in such Person
or Persons, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section
8.10, such powers, duties, obligations, rights and trusts as the Master Servicer and the Trustee may consider necessary or
desirable. If the Master Servicer shall not have joined in such appointment within fifteen (15) days after the receipt by
it of a request to do so, or in case a Servicer Termination Event shall have occurred and be continuing, the Trustee alone shall
have the power to make such appointment. No co-trustee or separate trustee hereunder shall be required to meet the terms of
eligibility as a successor trustee under Section 8.06 hereunder and no notice to Holders of Certificates of the appointment
of co-trustee(s) or separate trustee(s) shall be required under Section 8.08. All co-trustee fees shall be payable
out of the Trust Fund.

 

(b)          
In the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10, all rights,
powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed
by the Trustee and such

 

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separate trustee or co-trustee jointly, except to the extent that under any law of any jurisdiction
in which any particular act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer or
the Special Servicer hereunder), the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction)
shall be exercised and performed by such separate trustee or co-trustee at the direction of the Trustee.

 

(c)          
Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then-separate
trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee
shall refer to this Agreement and the conditions of this Article VIII. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically
including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to,
the Trustee. Every such instrument shall be filed with the Trustee.

 

(d)          
Any separate trustee or co-trustee may, at any time, constitute the Trustee, its agent or attorney-in-fact,
with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement
on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed,
all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted
by law, without the appointment of a new or successor trustee.

 

(e)          
The appointment of a co-trustee or separate trustee under this Section 8.10 shall not relieve the Trustee of
its duties and responsibilities hereunder.

 

Section 8.11       
Appointment of Custodians. The Certificate Administrator is hereby appointed as the Custodian to hold all or a portion
of the Mortgage Files. The Custodian shall be a depository institution subject to supervision by federal or state authority, shall
have combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the jurisdiction in which it
holds any Mortgage File. The Custodian shall be subject to the same obligations and standard of care as would be imposed on the
Certificate Administrator hereunder in connection with the retention of Mortgage Files directly by the Certificate Administrator.
Upon termination or resignation of the Custodian, the Certificate Administrator may appoint another Custodian meeting the foregoing
requirements. The appointment of one or more Custodians by the Certificate Administrator shall not relieve the Certificate Administrator
from any of its obligations hereunder, and the Certificate Administrator shall remain responsible for all acts and omissions of
any Custodian other than the initial Custodian. Any Custodian appointed hereunder must maintain a fidelity bond and errors and
omissions policy in an amount customary for Custodians which serve in such capacity in commercial mortgage loan securitization
transactions, or may self-insure.

 

Section 8.12       
Representations and Warranties of the Trustee. The Trustee hereby represents and warrants to the Depositor, the Master
Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, each Serviced Companion Noteholder and
the Certificate Administrator for the benefit of the Certificateholders, as of the Closing Date, that:

 

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

 

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

 

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

 

(iv)         
This Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid,
legal and binding obligation of the Trustee, enforceable against the Trustee in accordance with the terms hereof, subject to (a) applicable
bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally
and the rights of creditors of national banking associations specifically and (b) general principles of equity, regardless
of whether such enforcement is considered in a proceeding in equity or at law;

 

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

 

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

 

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

 

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(viii)       
To its actual knowledge, the Trustee is not a Risk Retention Affiliate of the Third Party Purchaser.

 

Section 8.13       
Provision of Information to Certificate Administrator, Master Servicer and Special Servicer. The Master Servicer
shall promptly, upon request, provide the Special Servicer and the Certificate Administrator with notice of any change in the identity
and/or contact information of any Serviced Companion Noteholder (to the extent it receives written notice of such change). The
Certificate Administrator, the Master Servicer and the Special Servicer may each conclusively rely on the information provided
to them regarding identity and/or contact information regarding any Serviced Companion Noteholder, and the Certificate Administrator,
the Master Servicer and the Special Servicer, as applicable, shall have no liability for notices not sent to the correct Serviced
Companion Noteholders or any obligation to determine the identity and/or contact information of the Serviced Companion Noteholders
to the extent updated or correct information regarding the holders of any of the Serviced Companion Noteholders or the most recent
identity and/or contact information regarding any of the Serviced Companion Noteholders has not been provided to the Certificate
Administrator, the Master Servicer or the Special Servicer, as applicable.

 

Section 8.14       
Representations and Warranties of the Certificate Administrator. The Certificate Administrator hereby represents
and warrants to the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer,
each Serviced Companion Noteholder, and the Trustee, for the benefit of the Certificateholders, as of the Closing Date, that:

 

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

 

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

 

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

 

(iv)        
This Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid,
legal and binding obligation of the Certificate Administrator, enforceable against the Certificate Administrator in accordance
with the terms hereof, subject to (a) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting
the enforcement of creditors’ rights generally and the rights of creditors of national banking associations specifically
and (b) general principles

 

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of equity, regardless of whether such enforcement is considered in a proceeding in equity or at
law;

 

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

 

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

 

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

 

(viii)       
To its actual knowledge, the Certificate Administrator is not a Risk Retention Affiliate of the Third Party Purchaser.

 

Section 8.15      
Compliance with the PATRIOT Act. In order to comply with the laws, rules, regulations and executive orders in effect
from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money
laundering (“Applicable Laws”), each of the Trustee, the Certificate Administrator, the Special Servicer and
the Master Servicer is required to obtain, verify and record certain information relating to individuals and entities which maintain
a business relationship with the Trustee, the Certificate Administrator, the Special Servicer or the Master Servicer, as applicable,
arising out of the Trust or this Agreement. Accordingly, each of the parties to this Agreement agrees to provide to the Trustee,
the Certificate Administrator, the Special Servicer and the Master Servicer, upon its respective reasonable request from time to
time such identifying information and documentation as may be available for such party in order to enable the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer to comply with Applicable Laws.

 

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[End of Article VIII]

 

ARTICLE
IX

TERMINATION

 

Section 9.01       
Termination upon Repurchase or Liquidation of All Mortgage Loans. Subject to this Section 9.01 and Section
9.02, the Trust and the respective obligations and responsibilities under this Agreement of the Certificate Administrator (other
than the obligations of the Certificate Administrator to provide for and make payments to Certificateholders as hereafter set forth),
the Certificate Registrar, the Custodian (other than the obligations of the Custodian to deliver any remaining Mortgage Files with
any necessary assignments, endorsements and other instruments as hereafter set forth), the Depositor, the Master Servicer, the
Special Servicer, the Operating Advisor, the Asset Representations Reviewer and the Trustee, shall terminate upon payment (or provision
for payment) to the Certificateholders of all amounts held by the Certificate Administrator and required hereunder to be so paid
on the Distribution Date following the earlier to occur of (i) the final payment (or related Advance) or other liquidation
of the last Mortgage Loan and REO Property (as applicable) subject hereto, (ii) the purchase or other liquidation by the Holders
of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates,
in that order of priority, of all the Mortgage Loans and the Trust’s portion of each REO Property remaining in the Trust
Fund at a price equal to (a) the Termination Purchase Amount, plus (b) the reasonable out-of-pocket expenses
of the Master Servicer and the Special Servicer with respect to such termination, other than in the case of the Master Servicer
or Special Servicer, as applicable, that is a purchaser of such Mortgage Loans, minus (c) solely in the case where
the Master Servicer is exercising such purchase right, the aggregate amount of unreimbursed Advances, together with any interest
accrued and payable to the Master Servicer in respect of such Advances in accordance with Sections 3.03(d) and 4.03(d)
and any unpaid Servicing Fees, remaining outstanding and payable solely to the Master Servicer (which items shall be deemed to
have been paid or reimbursed to the Master Servicer in connection with such purchase) or (iii) so long as the Class A-1,
Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates are no longer
outstanding, the voluntary exchange by the Sole Certificateholder of all the outstanding Certificates (other than the Class R Certificates)
for the remaining Mortgage Loans and REO Properties in the Trust Fund pursuant to the terms of the immediately succeeding paragraph;
provided, however, that in no event shall the trust created hereby continue beyond the expiration of twenty-one
(21) years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United
States to the Court of St. James’s, living on the date hereof. Upon termination of the Trust pursuant to clause (i) of the
immediately preceding sentence, the Custodian shall release or cause to be released to the Master Servicer, at the address provided
in Section 13.05 of this Agreement or to such other address designated by the Master Servicer in writing, any Mortgage Files
remaining in its possession.

 

Following the date on
which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates
are no longer outstanding (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding
Certificates (other than the Class R Certificates)), the Sole Certificateholder shall have

 

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the right, with the consent of the Master
Servicer, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans and each REO
Property remaining in the Trust Fund as contemplated by clause (iii) of the first paragraph of this Section 9.01 by
giving written notice to all the parties hereto no later than sixty (60) days prior to the anticipated date of exchange. In
the event that the Sole Certificateholder elects to exchange all of its Certificates (other than the Class R Certificates) for
all of the Mortgage Loans and the Trust’s portion of each REO Property remaining in the Trust in accordance with the preceding
sentence, such Sole Certificateholder, not later than the Distribution Date on which the final distribution on the Certificates
is to occur, shall remit for deposit in the Collection Account an amount in immediately available funds equal to all amounts due
and owing to the Depositor, the Master Servicer, the Special Servicer, the Trustee and the Certificate Administrator hereunder
through the date of the liquidation of the Trust that may be withdrawn from the Collection Account, or an escrow account acceptable
to the respective parties hereto, pursuant to Section 3.05(a) or that may be withdrawn from the Distribution Account pursuant
to Section 3.05(b), but only to the extent that such amounts are not already on deposit in the Collection Account. In addition,
the Master Servicer shall transfer all amounts required to be transferred to the Lower-Tier REMIC Distribution Account on the P&I
Advance Date related to such Distribution Date in which the final distribution on the Certificates is to occur from the Collection
Account pursuant to the first paragraph of Section 3.04(b) (provided, however, that if a Serviced Whole Loan
is secured by REO Property, the portion of the above-described purchase price allocable to such Trust’s portion of REO Property
shall initially be deposited into the related REO Account). Upon confirmation that such final deposits have been made and following
the surrender of all its Certificates (other than the Class R Certificates) on the applicable Distribution Date, the Custodian
shall, upon receipt of a Request for Release from the Master Servicer, release or cause to be released to the Sole Certificateholder
or any designee thereof, the Mortgage Files for the remaining Mortgage Loans and shall execute all assignments, endorsements and
other instruments furnished to it by the Sole Certificateholder as shall be necessary to effectuate transfer of the Mortgage Loans
and REO Properties remaining in the Trust Fund, and the Trust shall be liquidated in accordance with Section 9.02. Solely
for federal income tax purposes, the Sole Certificateholder shall be deemed to have purchased the assets of the Lower-Tier REMIC
for an amount equal to the remaining Certificate Balance of the Principal Balance Certificates, plus accrued, unpaid interest
with respect thereto, and the Certificate Administrator shall credit such amounts against amounts distributable in respect of such
Certificates and Related Lower-Tier Regular Interests.

 

The obligations and responsibilities
under this Agreement of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and
the Companion Paying Agent shall terminate with respect to any Companion Loan to the extent (i) its related Serviced Mortgage
Loan has been paid in full or is no longer part of the Trust Fund and (ii) no amounts payable by the related Companion Holder
to or for the benefit of the Trust or any party hereto in accordance with the related Intercreditor Agreement remain due and owing.

 

The Holders of the majority
of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates, in that order of
priority, may, at their option, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies
in respect of any related Mortgage Loan) and the Trust’s portion of each REO Property remaining in the Trust Fund as contemplated
by clause (ii) of the first paragraph of this Section 9.01 by giving written notice to the Trustee, the Certificate
Administrator, and the other parties

 

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hereto no later than sixty (60) days prior to the anticipated date of purchase; provided,
however, that the Holders of the Controlling Class, the Special Servicer, the Master Servicer, or the Holders of the Class
R Certificates may so elect to purchase all of the Mortgage Loans and the Trust’s portion of each REO Property remaining
in the Trust Fund only on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage
Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Balance of the Mortgage
Loans as set forth in the Preliminary Statement. This purchase shall terminate the Trust and retire the then-outstanding Certificates.
In the event that the Master Servicer or the Special Servicer purchases, or the Holders of the majority of the Controlling Class
or the Holders of the Class R Certificates purchase, all of the Mortgage Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund in accordance with the preceding sentence, the Master Servicer, the Special Servicer, the Holders of
the majority of the Controlling Class or the Holders of the Class R Certificates, as the case may be, shall deposit in the Lower-Tier
REMIC Distribution Account not later than the P&I Advance Date relating to the Distribution Date on which the final distribution
on the Certificates is to occur, an amount in immediately available funds equal to the above-described purchase price (exclusive
of any portion thereof payable to any Person other than the Certificateholders pursuant to Section 3.05(a), which portion
shall be deposited in the Collection Account). In addition, the Master Servicer shall transfer to the Lower-Tier REMIC Distribution
Account all amounts required to be transferred thereto on such P&I Advance Date from the Collection Account pursuant to the
first paragraph of Section 3.04(b), together with any other amounts on deposit in the Collection Account that would otherwise
be held for future distribution. Upon confirmation that such final deposits and payments have been made, the Custodian shall release
or cause to be released to the Master Servicer, the Special Servicer, the Holders of the majority of the Controlling Class or the
Holders of the Class R Certificates, as applicable, the Mortgage Files for the remaining Mortgage Loans and shall execute all assignments,
endorsements and other instruments furnished to it by the Master Servicer, the Special Servicer, the Holders of the majority of
the Controlling Class or the Holders of the Class R Certificates, as the case may be, as shall be necessary to effectuate transfer
of the Mortgage Loans as assets of the Trust and REO Properties remaining in the Trust Fund.

 

For purposes of this
Section 9.01, the Holders of the majority of the Controlling Class shall have the first option to terminate the Upper-Tier
REMIC and Lower-Tier REMIC, then the Special Servicer, then the Master Servicer, and then the Holders of the Class R Certificates.
For purposes of this Section 9.01, the Directing Certificateholder with the consent of the Holders of the Controlling Class,
shall act on behalf of the Holders of the Controlling Class in purchasing the assets of the Trust and terminating the Trust.

 

Notice of any termination
pursuant to this Section 9.01 shall be given promptly by the Certificate Administrator by letter to the Certificateholders,
each Serviced Companion Noteholder and the 17g-5 Information Provider in accordance with the provisions of Section 3.13(c)
(who shall promptly post a copy of such additional notice on the 17g-5 Information Provider’s Website in accordance with
the provisions of Section 3.13(c)) and, if not previously notified pursuant to this Section 9.01, to the other parties
hereto mailed (a) in the event such notice is given in connection with the purchase of all of the Mortgage Loans is an asset
of the Trust) and each REO Property remaining in the Trust Fund, not earlier than the 15th day and not later than the 25th day
of the month next preceding the month of the final distribution on the Certificates, or (b) otherwise during the month of
such final distribution on or before the P&I Advance

 

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Determination Date in such month, in each case specifying (i) the
Distribution Date upon which the Trust will terminate and final payment of the Certificates will be made, (ii) the amount
of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable,
payments being made only upon presentation and surrender of the Certificates at the offices of the Certificate Registrar or such
other location therein designated.

 

After transferring the
Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and Yield Maintenance Charges distributable to the
Regular Certificates pursuant to Section 4.01(e) to the Upper-Tier REMIC Distribution Account pursuant to Section
3.04(b) and upon presentation and surrender of the Certificates by the Certificateholders on the final Distribution Date, the
Certificate Administrator shall distribute to each Certificateholder so presenting and surrendering its Certificates (i) such
Certificateholder’s Percentage Interest of that portion of the amounts then on deposit in the Upper-Tier REMIC Distribution
Account that are allocable to payments on the Class of Certificates so presented, and (ii) any remaining amount shall be distributed
to the Class R Certificates in respect of the Class LR Interest or the Class UR Interest, as applicable. Amounts transferred from
the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account as of the final Distribution Date,
shall be distributed in termination and liquidation of the Lower-Tier Regular Interests and the Class LR Interest in accordance
with Section 4.01(a), Section 4.01(c), Section 4.01(e) and Section 4.01(f). Any funds not distributed
on such Distribution Date shall be set aside and held uninvested in trust for the benefit of the Certificateholders not presenting
and surrendering their Certificates in the aforesaid manner and shall be disposed of in accordance with this Section 9.01
and Section 4.01(h).

 

Section 9.02       
Additional Termination Requirements. (a) In the event the Master Servicer or the Special Servicer purchases,
or the Holders of the Controlling Class or the Holders of the Class R Certificates purchase, all of the Mortgage Loans and the
Trust’s portion of each REO Property remaining in the Trust Fund as provided in Section 9.01, the Upper-Tier REMIC
and Lower-Tier REMIC, as applicable, shall be terminated in accordance with the following additional requirements, which meet
the definition of a “qualified liquidation” in Section 860F(a)(4) of the Code:

 

(i)           
the Certificate Administrator shall specify the date of adoption of the plan of complete liquidation (which shall be the
date of mailing of the notice specified in Section 9.01) in a statement attached to each of the related Trust REMICs’
final Tax Returns pursuant to Treasury Regulations Section 1.860F-1;

 

(ii)          
during the 90-day liquidation period and at or prior to the time of the making of the final payment on the Certificates,
the Certificate Administrator on behalf of the Trustee shall sell all of the assets of the related Trust REMICs to the Master Servicer,
the Special Servicer, the Holders of the Controlling Class or the Holders of the Class R Certificates, as applicable, for cash;
and

 

(iii)          
within such 90-day liquidation period and immediately following the making of the final payment on the Lower-Tier
Regular Interests and the Certificates, the Certificate Administrator shall distribute or credit, or cause to be distributed or
credited, to the Holders of the Class R Certificates in respect of the Class LR Interest (in the case of the Lower-Tier REMIC)
and in respect of the Class UR Interest (in the case of the

 

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Upper-Tier REMIC) all cash on hand (other than cash retained to
meet claims), and the Trust (if applicable) or the related Trust REMIC(s) shall terminate at that time.

 

[End of Article IX]

 

ARTICLE
X

ADDITIONAL REMIC PROVISIONS

 

Section 10.01   
REMIC Administration. (a) The Certificate Administrator shall make elections or cause elections to be made to treat
each Trust REMIC as a REMIC under the Code and, if necessary, under Applicable State and Local Tax Law. Each such election will
be made on Form 1066 or other appropriate federal tax return for the taxable year ending on the last day of the calendar year
in which the Lower-Tier Regular Interests and the Certificates are issued. For the purposes of the REMIC election in respect
of the Upper-Tier REMIC, each Class of the Regular Certificates shall be designated as the “regular interests”
and the Class UR Interest shall be designated as the sole class of “residual interests” in the Upper-Tier REMIC.
For purposes of the REMIC election in respect of the Lower-Tier REMIC, each Class of Lower-Tier Regular Interests shall
be designated as a class of “regular interests” and the Class LR Interest shall be designated as the sole class of
“residual interests” in the Lower-Tier REMIC. None of the Special Servicer, the Master Servicer or the Trustee
shall permit the creation of any “interests” (within the meaning of Section 860G of the Code) in any Trust REMIC
other than the foregoing interests.

 

(b)         
The Closing Date is hereby designated as the “startup day” (“Startup Day”) of each Trust
REMIC within the meaning of Section 860G(a)(9) of the Code.

 

(c)          
The Certificate Administrator shall act on behalf of each Trust REMIC in relation to any tax matter or controversy involving
either such Trust REMIC and shall represent each such Trust REMIC in any administrative or judicial proceeding relating to an examination
or audit by any governmental taxing authority with respect thereto. The legal expenses, including without limitation attorneys’
or accountants’ fees, and costs of any such proceeding and any liability resulting therefrom shall be expenses of the Trust
and the Certificate Administrator shall be entitled to reimbursement therefor out of amounts attributable to the Mortgage Loans
and any REO Properties on deposit in the Collection Account as provided by Section 3.05 unless such legal expenses and costs
are incurred by reason of the Certificate Administrator’s willful misconduct, bad faith or negligence. The Certificate Administrator
is hereby designated as the “partnership representative” (within the meaning of Section 6223 of the Code) of each
Trust REMIC. By their acceptance thereof, the Holders of the Class R Certificates hereby agree to such designation, on behalf
of themselves and all successor Holder of Class R Certificates.

 

(d)          
The Certificate Administrator shall prepare or cause to be prepared and shall file, or cause to be filed, all of the Tax
Returns that it determines are required with respect to each Trust REMIC created hereunder, and shall cause the Trustee to sign
(and the Trustee shall timely sign) such Tax Returns in a timely manner. The ordinary expenses of preparing such returns shall
be borne by the Certificate Administrator without any right of reimbursement therefor. The Certificate Administrator shall prepare
or cause to be prepared, and file or cause to be filed with the IRS, on behalf of each of the Lower-Tier REMIC and the Upper-Tier
REMIC, an application

 

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for a taxpayer identification number for such REMIC on IRS Form SS-4 or obtain such number by other permissible
means.

 

(e)         
The Certificate Administrator shall provide or cause to be provided (i) to any Transferor of a Class R Certificate
such information as is necessary for the application of any tax relating to the transfer of such Class R Certificate to any Person
who is a Disqualified Organization, or in the case of a Transfer to an agent thereof, to such agent, (ii) to the Certificateholders
such information or reports as are required by the Code or the REMIC Provisions including reports relating to interest, original
issue discount and market discount or premium (using the Prepayment Assumption) and (iii) to the Internal Revenue Service
on Form 8811, within thirty (30) days after the Closing Date, the name, title, address and telephone number of the Certificate
Administrator as the “partnership representative” of each of the Trust REMICs created hereunder.

 

(f)          
The Certificate Administrator shall take such actions and shall cause the Trust to take such actions as are reasonably within
the Certificate Administrator’s control and the scope of its duties more specifically set forth herein as shall be necessary
to maintain the status of each Trust REMIC as a REMIC under the REMIC Provisions and the Trustee shall assist the Certificate Administrator
to the extent reasonably requested by the Certificate Administrator to do so. Neither the Master Servicer nor the Special Servicer
shall knowingly or intentionally take any action, cause the Trust to take any action or fail to take (or fail to cause to be taken)
any action reasonably within its control and the scope of duties more specifically set forth herein, that, under the REMIC Provisions,
if taken or not taken, as the case may be, could (i) cause any Trust REMIC to fail to qualify as a REMIC or (ii) result
in the imposition of a tax upon any Trust REMIC or the Trust (including but not limited to the tax on “prohibited transactions”
as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of
the Code, but not including the tax on “net income from foreclosure property”) (either such event, an “Adverse
REMIC Event”) unless the Certificate Administrator receives an Opinion of Counsel (at the expense of the party seeking
to take such action or, if such party fails to pay such expense, and the Certificate Administrator determines that taking such
action is in the best interest of the Trust and the Certificateholders, at the expense of the Trust, but in no event at the expense
of the Certificate Administrator or the Trustee) to the effect that the contemplated action will not, with respect to the Trust
or any Trust REMIC created hereunder, cause the loss of such status or, unless the Certificate Administrator determines in its
sole discretion to indemnify the Trust against such tax, result in the imposition of such a tax (not including a tax on “net
income from foreclosure property”). The Trustee shall not take or fail to take any action (whether or not authorized hereunder)
as to which the Certificate Administrator has advised it in writing that it has received an Opinion of Counsel to the effect that
an Adverse REMIC Event could occur with respect to such action. The Certificate Administrator may consult with counsel to make
such written advice, and the cost of same shall be borne by the party seeking to take the action not expressly permitted by this
Agreement, but in no event at the expense of the Certificate Administrator or the Trustee. At all times as may be required by the
Code, the Certificate Administrator will to the extent within its control and the scope of its duties more specifically set forth
herein, maintain substantially all of the assets of each Trust REMIC as “qualified mortgages” as defined in Section 860G(a)(3)
of the Code and “permitted investments” as defined in Section 860G(a)(5) of the Code.

 

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(g)          
In the event that any applicable federal, state or local tax, including interest, penalties or assessments, additional amounts
or additions to tax, is imposed on any Trust REMIC, such tax shall be charged against amounts otherwise distributable to the Holders
of the Certificates, except as provided in the last sentence of this Section 10.01(g); provided that with respect
to the estimated amount of tax imposed on any “net income from foreclosure property” pursuant to Section 860G(c)
of the Code or any similar tax imposed by a state or local tax authority, the Special Servicer shall retain in the related REO
Account a reserve for the payment of such taxes in such amounts and at such times as it shall deem appropriate (or as advised by
the Certificate Administrator in writing), and shall remit to the Master Servicer such reserved amounts as the Master Servicer
shall request in order to pay such taxes. Except as provided in the preceding sentence, the Master Servicer shall withdraw from
the Collection Account sufficient funds to pay or provide for the payment of, and to actually pay, such tax as is estimated to
be legally owed by any Trust REMIC (but such authorization shall not prevent the Certificate Administrator from contesting, at
the expense of the Trust (other than as a consequence of a breach of its obligations under this Agreement), any such tax in appropriate
proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The Certificate
Administrator is hereby authorized to and shall segregate, into a separate non-interest bearing account, the net income from
any “prohibited transaction” under Section 860F(a) of the Code or the amount of any taxable contribution to any
Trust REMIC after the Startup Day that is subject to tax under Section 860G(d) of the Code and use such income or amount,
to the extent necessary, to pay such prohibited transactions tax. To the extent that any such tax (other than any such tax paid
in respect of “net income from foreclosure property”) is paid to the Internal Revenue Service or applicable state or
local tax authorities, the Certificate Administrator shall retain an equal amount from future amounts otherwise distributable to
the Holders of Class R Certificates (as applicable) and shall distribute such retained amounts, (x) in the case of the Lower-Tier
Regular Interests, to the Upper-Tier REMIC to the extent they are fully reimbursed for any Realized Losses arising therefrom
and then to the Holders of the Class R Certificates in respect of the Class LR Interest in the manner specified in Section 4.01(c)
and (y) in the case of the Upper-Tier REMIC, to the Holders of the Principal Balance Certificates in the manner specified
in Section 4.01(a) to the extent they are fully reimbursed for any Realized Losses arising therefrom and then to the Holders
of the Class R Certificates in respect of the Class UR Interest. None of the Trustee, the Certificate Administrator, the Master
Servicer or the Special Servicer shall be responsible for any taxes imposed on any Trust REMIC except to the extent such taxes
arise as a consequence of a breach of their respective obligations under this Agreement which breach constitutes willful misconduct,
bad faith, or negligence by such party.

 

(h)          
The Certificate Administrator shall, for federal income tax purposes, maintain or cause to be maintained books and records
with respect to each Trust REMIC on a calendar year and on an accrual basis or as otherwise may be required by the REMIC Provisions.

 

(i)           
Following the Startup Day, neither the Certificate Administrator nor the Trustee shall accept any contributions of assets
to any Trust REMIC unless the Certificate Administrator and the Trustee shall have received an Opinion of Counsel (at the expense
of the party seeking to make such contribution) to the effect that the inclusion of such assets in such Trust REMIC will not cause
an Adverse REMIC Event.

 

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(j)           
Neither the Certificate Administrator nor the Trustee shall enter into any arrangement by which the Trust or any Trust REMIC
will receive a fee or other compensation for services nor permit the Trust or any Trust REMIC to receive any income from assets
other than “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted investments”
as defined in Section 860G(a)(5) of the Code.

 

(k)          
Solely for the purposes of Treasury Regulations Section 1.860G-1(a)(4)(iii), the “latest possible maturity
date” by which the Certificate Balance or Notional Amount of each Class of Regular Certificates and by which the Lower-Tier
Principal Amount of each Class of Lower-Tier Regular Interests would be reduced to zero is the date that is the Rated Final
Distribution Date.

 

(l)           
None of the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, shall sell,
dispose of or substitute for any of the Mortgage Loans (except in connection with (i) the default, imminent default or foreclosure
of a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by foreclosure or deed
in lieu of foreclosure, (ii) the bankruptcy of the Trust, (iii) the termination of the Trust pursuant to Article IX
of this Agreement or (iv) a purchase of Mortgage Loans pursuant to Article II or Article III of this
Agreement) or acquire any assets for the Trust or any Trust REMIC or sell or dispose of any investments in the Collection Account
or the REO Account for gain unless it has received an Opinion of Counsel that such sale, disposition or substitution will not (a) affect
adversely the status of any Trust REMIC as a REMIC or (b) unless the Trustee, the Certificate Administrator, the Master Servicer
or the Special Servicer, as the case may be, has determined in its sole discretion to indemnify the Trust against such tax, cause
the Trust or any Trust REMIC to be subject to a tax on “prohibited transactions” pursuant to the REMIC Provisions.

 

(m)          The Certificate Administrator’s authority under this Agreement includes the authority to make, and the Certificate
Administrator is hereby directed to make, any elections allowed under the Code (i) to avoid the application of Section 6221
of the Code (or successor provisions) to either Trust REMIC and (ii) to avoid payment by either Trust REMIC under Section 6225
of the Code (or successor provisions) of any tax, penalty, interest or other amount imposed under the Code that would otherwise
be imposed on any Holder of a Class R Certificate, past or present. Each Holder of a Class R Certificate agrees, by acquiring such
Certificate, to any such elections, and agrees to reasonably cooperate with the Certificate Administrator in connection with any
such elections the Certificate Administrator determines in its discretion are necessary or advisable.

 

Section 10.02   
Use of Agents. (a) The Trustee shall execute all of its obligations and duties under this Article X through
its Corporate Trust Office. The Trustee may execute any of its obligations and duties under this Article X either directly
or by or through agents or attorneys. The Trustee shall not be relieved of any of its duties or obligations under this Article X
by virtue of the appointment of any such agents or attorneys.

 

(b)          
The Certificate Administrator may execute any of its obligations and duties under this Article X either directly
or by or through agents or attorneys. The Certificate Administrator shall not be relieved of any of its duties or obligations under
this Article X by virtue of the appointment of any such agents or attorneys.

 

 

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Section 10.03   
Depositor, Master Servicer and Special Servicer to Cooperate with Certificate Administrator. (a) The Depositor shall
provide or cause to be provided to the Certificate Administrator within ten (10) days after the Depositor receives a request
from the Certificate Administrator, all information or data that the Certificate Administrator reasonably determines to be relevant
for tax purposes as to the valuations and issue prices of the Certificates, including, without limitation, the price, yield, Prepayment
Assumptions and projected cash flow of the Certificates.

 

(b)          
The Master Servicer and the Special Servicer shall each furnish such reports, certifications and information, and upon reasonable
notice and during normal business hours, access to such books and records maintained thereby, as may relate to the Certificates
or the Trust and as shall be reasonably requested by the Certificate Administrator in order to enable it to perform its duties
hereunder.

 

Section 10.04   
Appointment of REMIC Administrators. (a) The Certificate Administrator may appoint at the Certificate Administrator’s
expense, one or more REMIC Administrators, which shall be authorized to act on behalf of the Certificate Administrator in performing
the functions set forth in Section 10.01 herein. The Certificate Administrator shall cause any such REMIC Administrator
to execute and deliver to the Certificate Administrator an instrument in which REMIC Administrator shall agree to act in such capacity,
with the obligations and responsibilities herein. The appointment of a REMIC Administrator shall not relieve the Certificate Administrator
from any of its obligations hereunder, and the Certificate Administrator shall remain responsible and liable for all acts and omissions
of the REMIC Administrator. Each REMIC Administrator must be acceptable to the Certificate Administrator and must be organized
and doing business under the laws of the United States of America or of any State and be subject to supervision or examination
by federal or state authorities. In the absence of any other Person appointed in accordance herewith acting as REMIC Administrator,
the Certificate Administrator hereby agrees to act in such capacity in accordance with the terms hereof. If Wells Fargo Bank, National
Association is removed as Certificate Administrator, then Wells Fargo Bank, National Association shall be terminated as REMIC Administrator.

 

(b)          
Any Person into which any REMIC Administrator may be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion, or consolidation to which any REMIC Administrator shall be a party, or any Person succeeding
to the corporate agency business of any REMIC Administrator, shall continue to be the REMIC Administrator without the execution
or filing of any paper or any further act on the part of the Certificate Administrator or the REMIC Administrator.

 

(c)          
Any REMIC Administrator may at any time resign by giving at least thirty (30) days’ advance written notice
of resignation to the Trustee, the Certificate Registrar, the Certificate Administrator, the Master Servicer, the Special Servicer
and the Depositor. The Certificate Administrator may at any time terminate the agency of any REMIC Administrator by giving written
notice of termination to such REMIC Administrator, the Master Servicer, the Certificate Registrar and the Depositor. Upon receiving
a notice of resignation or upon such a termination, or in case at any time any REMIC Administrator shall cease to be eligible in
accordance with the provisions of this Section 10.04, the Certificate Administrator may appoint a successor REMIC Administrator,
in which case the Certificate Administrator shall give written

 

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notice of such appointment to the Master Servicer, the Trustee and
the Depositor and shall mail notice of such appointment to all Certificateholders; provided, however, that no successor
REMIC Administrator shall be appointed unless eligible under the provisions of this Section 10.04. Any successor REMIC Administrator
upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its
predecessor hereunder, with like effect as if originally named as REMIC Administrator. No REMIC Administrator shall have responsibility
or liability for any action taken by it as such at the direction of the Certificate Administrator.

 

[End of Article X]

 

ARTICLE
XI

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section 11.01   
Intent of the Parties; Reasonableness. The parties hereto acknowledge and agree that the purpose of Article XI
of this Agreement is to facilitate compliance by the Depositor (and any Other Depositor of any Other Securitization that includes
a Serviced Companion Loan) with the provisions of Regulation AB and the related rules and regulations of the Commission. The Depositor
shall not exercise its rights to request delivery of information or other performance under these provisions other than in reasonable
good faith, or for purposes other than compliance with the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and, in
each case, the rules and regulations of the Commission thereunder. The parties hereto acknowledge that interpretations of the requirements
of Regulation AB may change over time, due to interpretive guidance provided by the Commission or its staff, and agree to comply
with requests made by the Depositor (or any Other Depositor or Other Trustee of any Other Securitization that includes a Serviced
Companion Loan) in good faith for delivery of information under these provisions on the basis of such evolving interpretations
of Regulation AB (to the extent such interpretations require compliance and are not “grandfathered”). In connection
with the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, and any Other Securitization
subject to Regulation AB that includes a Serviced Companion Loan, each of the Master Servicer, the Special Servicer, the Operating
Advisor, the Trustee, the Custodian and the Certificate Administrator shall cooperate fully with the Depositor and the Certificate
Administrator, and any Other Depositor, Other Trustee and Other Certificate Administrator of any Other Securitization that includes
a Serviced Companion Loan, as applicable, to deliver or make available to the Depositor or the Certificate Administrator, and any
such Other Depositor, Other Trustee or Other Certificate Administrator, as applicable (including any of its assignees or designees),
any and all statements, reports, certifications, records and any other information (in its possession or reasonably attainable)
necessary in the reasonable good faith determination of the Depositor or such Other Depositor, as applicable, to permit the Depositor
or such Other Depositor, as applicable, to comply with the provisions of Regulation AB, together with such disclosures relating
to the Master Servicer, the Special Servicer, the Operating Advisor, the Trustee, the Custodian, the Asset Representations Reviewer
and the Certificate Administrator, as applicable, and any Sub-Servicer, or the servicing of the Mortgage Loans (and the related
Serviced Companion Loan, if applicable), reasonably believed by the Depositor or the related Other Depositor to be necessary in
order to effect such compliance. Each party to this Agreement shall have a reasonable

 

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period of time to comply with any written
request made under this Section 11.01, but in any event, shall, upon reasonable advance written request, provide information
in sufficient time to allow the Depositor and each Other Depositor to satisfy any related filing requirements. For purposes of
this Article XI, to the extent that any party has an obligation to exercise commercially reasonable efforts to cause
a third party to perform, such party hereunder shall not be required to bring any legal action against such third party in connection
with such obligation.

 

Section 11.02   
Succession; Subcontractors. (a) As a condition to the succession to the Master Servicer and the Special Servicer
or to any Sub-Servicer (but only if such Sub-Servicer is a servicer as contemplated by Item 1108(a)(2)) as servicer or sub-servicer
or succession to the Certificate Administrator under this Agreement by any Person (i) into which the Master Servicer and the
Special Servicer, such Sub-Servicer or Certificate Administrator may be merged or consolidated, or (ii) which may be appointed
as a successor to the Master Servicer and the Special Servicer or to any such Sub-Servicer or Certificate Administrator, the person
removing and replacing the Master Servicer and the Special Servicer or Certificate Administrator shall provide to the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator and each Other Depositor, as applicable, at least fifteen
(15) calendar days prior to the effective date of such succession or appointment (or such shorter period as is agreed to by
the Depositor), (x) written notice to the Depositor, the Other Depositor and the Other Certificate Administrator of such succession
or appointment and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information relating
to such successor reasonably requested by the Depositor, Other Depositor or Other Certificate Administrator in order to comply
with its reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the
Exchange Act are required to be filed under the Exchange Act); provided, however, that if disclosing such information
prior to such effective date would violate any applicable law or confidentiality agreement, the Master Servicer, the Special Servicer,
any Additional Servicer or the Certificate Administrator, as the case may be, shall submit such disclosure to the Depositor and
the Other Depositor no later than the effective date of such succession or appointment.

 

(b)          
Each of the Master Servicer, the Special Servicer, the Sub-Servicer, the Trustee, the Operating Advisor and the Certificate
Administrator (each of the Master Servicer, the Special Servicer, the Trustee, the Operating Advisor and the Certificate Administrator
and each Sub-Servicer, for purposes of this Section 11.02, a “Servicer”) is permitted to utilize
one or more Subcontractors to perform certain of its obligations hereunder. If such Subcontractor will be a Servicing Function
Participant, such Servicer shall promptly upon written request provide to the Depositor or any Mortgage Loan Seller (and any Other
Trustee, Other Certificate Administrator and Other Depositor related to any Other Securitization that includes a related Serviced
Companion Loan) a written description (in form and substance satisfactory to the Depositor, such Mortgage Loan Seller or such Other
Trustee, Other Certificate Administrator or Other Depositor, as applicable) of the role and function of each Subcontractor utilized
by such Servicer, specifying (i) the identity of such Subcontractor and (ii) the elements of the Servicing Criteria that
will be addressed in assessments of compliance provided by each such Subcontractor. As a condition to the utilization by such Servicer
of any Subcontractor determined to be a Servicing Function Participant, such Servicer shall (i) with respect to any such Subcontractor
engaged by such Servicer that is an Initial Sub-Servicer, use commercially reasonable efforts to cause, and (ii) with
respect to any other subcontractor with which it has entered into a servicing relationship, cause such Subcontractor used by such
Servicer for the benefit of the Depositor and the Trustee (and any

 

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Other Trustee, Other Certificate Administrator and Other Depositor
related to any Other Securitization that includes a related Serviced Companion Loan) to comply with the provisions of Section
11.10 and Section 11.11 of this Agreement to the same extent as if such Subcontractor were such Servicer. With respect
to any Servicing Function Participant engaged by such Servicer that is an Initial Sub-Servicer, such Servicer shall be responsible
for using commercially reasonable efforts to obtain, and with respect to each other Servicing Function Participant engaged by such
Servicer, such Servicer shall obtain from each such Servicing Function Participant and deliver to the applicable Persons any assessment
of compliance report and related accountant’s attestation required to be delivered by such Subcontractor under Section
11.10 and Section 11.11, in each case, as and when required to be delivered. For the avoidance of doubt, the Custodian
shall not be permitted to utilize any Subcontractor to perform any of its obligations hereunder.

 

(c)          
Notwithstanding the foregoing, if a Servicer engages a Subcontractor, other than an Initial Sub-Servicer in connection
with the performance of any of its duties under this Agreement, such Servicer shall be responsible for determining whether such
Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation AB and whether any such Subcontractor
meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB. If a Servicer determines, pursuant to the preceding
sentence, that such Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation AB and meets the
criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB, then such Subcontractor shall be deemed to be a Sub-Servicer
for purposes of this Agreement, the engagement of such Sub-Servicer shall not be effective unless and until notice is given
to the Depositor and the Certificate Administrator of any such Sub-Servicer and Sub-Servicing Agreement. Other than with
respect to the Initial Sub-Servicer, no Sub-Servicing Agreement shall be effective until fifteen (15) days after such
written notice is received by the Depositor and the Certificate Administrator (or such shorter period as is agreed to by the Depositor).
Such notice shall contain all information reasonably necessary to enable the Certificate Administrator to accurately and timely
report the event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act
are required to be filed under the Exchange Act).

 

(d)          
In connection with the succession to the Trustee under this Agreement by any Person (i) into which the Trustee may
be merged or consolidated, or (ii) which may be appointed as a successor to the Trustee, the Trustee shall deliver written
notice to the Depositor, the Certificate Administrator and the 17g-5 Information Provider, which shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.13(c), in each case at least thirty (30) calendar
days prior to the effective date of such succession or appointment (or if such prior notice is violative of applicable law or any
applicable confidentiality agreement, no later than one (1) Business Day after such effective date of succession) and shall
furnish to the Depositor and the Certificate Administrator, in writing and in form and substance reasonably satisfactory to the
Depositor and the Certificate Administrator, all information reasonably necessary for the Certificate Administrator to accurately
and timely report, pursuant to Section 11.07, the event under Item 6.02 of Form 8-K pursuant to the Exchange
Act (if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

(e)          
Notwithstanding anything to the contrary contained in this Article XI, in connection with any Sub-Servicer
and/or any Mortgage Loan that is the subject of an Initial Sub-Servicing Agreement, with respect to all matters related to
Regulation AB, the Master

 

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Servicer shall not have any obligation other than to use commercially reasonable efforts to cause such
Sub-Servicer to comply with its obligations under such Initial Sub-Servicing Agreement.

 

(f)          
Any notice and/or information furnished or required to be furnished pursuant to this Section 11.02 shall also be
provided to each Other Depositor and each Other Certificate Administrator (to the extent the information relates to a party that
services, specially services or is trustee for a Serviced Companion Loan) in the same time frame as set forth in this Section
11.02.

 

Section 11.03     
Filing Obligations. (a) The Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee shall reasonably cooperate with the Depositor in connection with the satisfaction
of the Trust’s reporting requirements under the Exchange Act. Pursuant to Sections 11.04, 11.05, 11.06
and 11.07 of this Agreement, the Certificate Administrator shall prepare for execution by the Depositor any Forms 10-D,
ABS-EE, 10-K and 8-K required by the Exchange Act, in order to permit the timely filing thereof, and the Certificate Administrator
shall file (via the Commission’s Electronic Data Gathering and Retrieval System (“EDGAR”)) such Forms executed
by the Depositor.

 

Each party hereto shall
be entitled to rely on the information in the Prospectus or this Agreement with respect to the identity of any “sponsor”,
credit enhancer, derivative provider or “significant obligor” as of the Closing Date other than with respect to itself
or any information required to be provided by it or indemnified for by it pursuant to any separate agreement.

 

(b)          
In the event that the Certificate Administrator is unable to timely file with the Commission all or any required portion
of any Form 10-D, ABS-EE, 10-K or 8-K required to be filed by this Agreement because required disclosure information
was either not delivered to it or delivered to it after the delivery deadlines set forth in this Agreement, the Certificate Administrator
will promptly notify the Depositor. In the case of Forms 10-D, ABS-EE and 10-K, the Depositor, the Master Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee will thereupon cooperate to prepare and file a Form 12b-25
and a Form 10-D/A, Form ABS-EE/A or Form 10-K/A, as applicable, pursuant to Rule 12b-25 of the Exchange
Act. In the case of Form 8-K, the Certificate Administrator will, upon receipt of all required Form 8-K Disclosure
Information and upon the approval and direction of the Depositor, include such disclosure information on the next succeeding Form 10-D
to be filed for the Trust. In the event that any previously filed Form 10-D, Form ABS-EE, Form 10-K or Form 8-K
needs to be amended, the Certificate Administrator will notify the Depositor, and such other parties as needed and the parties
hereto will cooperate with the Certificate Administrator to prepare any necessary Form 10-D/A, Form ABS-EE/A, Form 10-K/A
or Form 8-K/A. Any Form 15, Form 12b-25 or any amendment to Form 10-D, Form ABS-EE, Form 10-K
or Form 8-K shall be signed by an officer of the Depositor. The parties to this Agreement acknowledge that the performance
by the Certificate Administrator of its duties under this Section 11.03 related to the timely preparation and filing of
Form 15, a Form 12b-25 or any amendment to Form 10-D, Form ABS-EE, Form 10-K or Form 8-K is contingent
upon the parties observing all applicable deadlines in the performance of their duties under Sections 11.03, 11.04,
11.05, 11.06, 11.07, 11.08, 11.09, 11.10, 11.11 and 11.15 of this Agreement.
The Certificate Administrator shall have no liability for any loss, expense, damage, claim arising out of or with respect to any
failure to properly prepare,

 

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arrange for execution and/or timely file any such Form 15, Form 12b-25 or any amendments
to Form 10-D, Form ABS-EE, Form 10-K or Form 8-K, where such failure results from the Certificate Administrator’s
inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for
execution or file such Form 15, Form 12b-25 or any amendments to Form 10-D, Form ABS-EE, Form 10-K
or Form 8-K, not resulting from its own negligence, bad faith or willful misconduct.

 

Section 11.04     
Form 10-D and Form ABS-EE Filings.
(a) Within fifteen (15) days after each Distribution Date (subject to permitted extensions under the Exchange Act), the Certificate
Administrator shall prepare and file on behalf of the Trust any Form 10-D required by the Exchange Act, in form and substance
as required by the Exchange Act. The Certificate Administrator shall file each Form 10-D with a copy of the related Distribution
Date Statement attached thereto. Any disclosure in addition to the Distribution Date Statement that is required to be included
on Form 10-D (“Additional Form 10-D Disclosure”) shall, pursuant to the following paragraph
be reported by the parties set forth on Exhibit BB to the Depositor and the Certificate Administrator and approved
by the Depositor, and the Certificate Administrator will have no duty or liability for any failure hereunder to determine or prepare
any Additional Form 10-D Disclosure, absent such reporting, direction and approval.

 

For so long as the Trust
is subject to the reporting requirements of the Exchange Act, as set forth on Exhibit BB hereto, within five (5) calendar
days after the related Distribution Date, (i) certain parties to this Agreement identified on Exhibit BB hereto
shall be required to provide to the Certificate Administrator and the Depositor (and in the case of any Servicing Function Participant,
with a copy to the Master Servicer), to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be,
has actual knowledge, in EDGAR-Compatible Format, or in such other format as otherwise agreed upon by the Certificate Administrator,
the Depositor and such providing parties, the form and substance of any Additional Form 10-D Disclosure, if applicable;
provided that information relating to any REO Account to be reported under “Item 9: Other Information”
on Exhibit BB shall be reported by the Special Servicer to the Master Servicer within four (4) calendar days after
the related Distribution Date on Exhibit MM; (ii) the parties listed on Exhibit BB hereto shall include
with such Additional Form 10-D Disclosure, an Additional Disclosure Notification in the form attached hereto as Exhibit EE
(except with respect to the reporting of REO Account balances which shall be delivered in the form of Exhibit MM hereto)
and (iii) the Depositor shall approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional
Form 10-D Disclosure on Form 10-D. Information delivered to the Certificate Administrator hereunder should be
delivered by email to cts.sec.notifications@wellsfargo.com (or such other e-mail address as the Certificate Administrator may
instruct) or by facsimile to 410-715-2380, Attn: CTS SEC Notifications. Neither the Trustee nor the Certificate Administrator
has any duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit BB of their
duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-D Disclosure information.
The Depositor will be responsible for any reasonable expenses incurred by the Trustee or Certificate Administrator in connection
with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this paragraph.

 

The Certificate Administrator
shall include in any Form 10-D filed by it (i) the information required by Rule 15Ga-1(a) of the Exchange
Act concerning all assets of the Trust

 

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that were subject of a demand for the repurchase of, or the substitution of a Qualified
Substitute Mortgage Loan for, a Mortgage Loan contemplated by Section 2.03(b), (ii) a reference to the most recent
Form ABS-15G filed by the Depositor and the Mortgage Loan Sellers, if applicable, and the Commission’s assigned “Central
Index Key” for each such filer and (iii) to the extent such information is provided to the Certificate Administrator
by the Master Servicer in the form of Exhibit MM hereto for inclusion therein within the time period described in this
Section 11.04, the balances of the REO Account (to the extent the related information has been received from the Special
Servicer within the time period specified in this Section 11.04) and the Collection Account as of the related Distribution
Date and as of the immediately preceding Distribution Date and (iv) the balances of the Distribution Accounts, the Gain-on-Sale
Reserve Account and the Interest Reserve Account, in each case as of the related Distribution Date and as of the immediately preceding
Distribution Date. The Depositor and the Mortgage Loan Sellers, in accordance with Section 5(f) of the applicable Mortgage
Loan Purchase Agreement, shall deliver such information as described in clause (i) and clause (ii) of this paragraph.

 

Form 10-D requires
the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
ninety (90) days.” The Depositor shall notify the Certificate Administrator by email to cts.sec.notifications@wellsfargo.com,
no later than the 5th calendar day after the related Distribution Date with respect to the filing of a report on Form 10-D
if the answer to the questions should be “no”. The Certificate Administrator shall be entitled to rely on such representations
in preparing, executing and/or filing any such report.

 

With respect to any Mortgage
Loan that permits Additional Debt or mezzanine debt in the future, the Certificate Administrator shall include as part of any applicable
Form 10-D filed by it (to the extent it receives such information from the applicable Servicer) the identity of such Mortgage
Loan and, to the extent such information is received by the Certificate Administrator from the Master Servicer or the Special Servicer,
as the case may be, substantially in the form of Exhibit KK (A) the amount of any such Additional Debt or mezzanine
debt, as applicable, that is incurred during the related Collection Period, (B) the total debt service coverage ratio calculated
on the basis of such Mortgage Loan and such Additional Debt or mezzanine debt, as applicable, and (C) the aggregate LTV Ratio
calculated on the basis of such Mortgage Loan and such Additional Debt or mezzanine debt, as applicable.

 

The Depositor hereby
directs the Certificate Administrator to include the following individual’s name and phone number on the cover of Form 10-D
for each reporting period: Name: Daniel Vinson, Telephone: (212) 528-8224. The Certificate Administrator may rely without
further investigation that this information remains correct unless and until the Depositor provides the Certificate Administrator
with a new individual’s name and phone number in writing.

 

Upon receipt of the Asset
Review Report Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 12.01(b), the
Certificate Administrator shall (i) include such Asset Review Report Summary in Item 1B on the Form 10-D in
accordance with Section 11.04 for such period in which such Asset Review Report Summary was delivered, and (ii) post
such Asset Review Report Summary to the Certificate Administrator’s Website not later

 

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than two (2) Business Days after
receipt of such Asset Review Report Summary from the Asset Representations Reviewer.

 

To the extent the Certificate
Administrator receives a request from any Certificateholder or Certificate Owner to communicate with other Certificateholders or
Certificate Owners pursuant to Section 5.06, the Certificate Administrator shall include on the Form 10-D relating
to the reporting period in which such request was received a Special Notice including the information required to be included pursuant
to Section 5.06.

 

(b)          
After preparing the Form 10-D, the Certificate Administrator shall forward electronically a copy of the Form 10-D
to the Depositor for review no later than ten (10) calendar days after the related Distribution Date or, if the 10th calendar
day after the related Distribution Date is not a Business Day, the immediately preceding Business Day. Within two (2) Business
Days after receipt of such copy, but no later than the two (2) Business Days prior to the 15th calendar day after the
Distribution Date, the Depositor shall notify the Certificate Administrator in writing (which may be furnished electronically)
of any changes to or approval of such Form 10-D and, a duly authorized officer of the Depositor shall sign the Form 10-D
and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight
mail) to the Certificate Administrator. Alternatively, if the Certificate Administrator agrees in its sole discretion, the Depositor
may deliver to the Certificate Administrator manually signed copies of a power of attorney meeting the requirements of Item 601(b)(24)
of Regulation S-K under the Securities Act, and certified copies of a resolution of the Depositor’s board of directors
authorizing such power of attorney, each to be filed with each Form 10-D, in which case the Certificate Administrator
shall sign such Forms 10-D as attorney in fact for the Depositor. If a Form 10-D cannot be filed on time or if a previously
filed Form 10-D needs to be amended, the Certificate Administrator shall follow the procedures set forth in Section
11.03(b). Promptly after filing with the Commission, the Certificate Administrator shall make available on its Internet website
a final executed copy of each Form 10-D filed by the Certificate Administrator. The signing party at the Depositor can
be contacted at Barclays Commercial Mortgage Securities LLC, 745 Seventh Avenue, New York, New York 10019, Attention: Daniel Vinson,
Email: Daniel.vinson@barclays.com, with a copy to Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention:
Steven P. Glynn, Director, Legal Department, Email: steven.glynn@barclays.com. The parties to this Agreement acknowledge that the
performance by the Certificate Administrator of its duties under this Section 11.04(b) related to the timely preparation
and filing of Form 10-D is contingent upon such parties observing all applicable deadlines in the performance of their
duties under this Section 11.04(b). Neither the Trustee nor the Certificate Administrator shall have any liability for any
loss, expense, damage, or claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or
timely file such Form 10-D, where such failure results from the Certificate Administrator’s inability or failure
to receive, on a timely basis, any information from any party to this Agreement needed to prepare, arrange for execution or file
such Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.

 

(c)          
Prior to the filing of each Form 10-D by the Certificate Administrator pursuant to Section 11.04(a), the Certificate
Administrator shall prepare and file on behalf of the Trust any Form ABS-EE in form and substance as required by the Exchange Act
and the rules and regulations of the Commission thereunder; provided that the foregoing shall not apply to any Form

 

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ABS-EE
required to be filed with the Commission and incorporated by reference in either the Preliminary Prospectus or the Prospectus.
The Certificate Administrator shall file each Form ABS-EE with a copy of the related CREFC® Schedule AL File received
by the Certificate Administrator pursuant to Section 3.12(d) as Exhibit 102 thereto. To the extent the Certificate
Administrator receives any Schedule AL Additional File with respect to such Form ABS-EE pursuant to Section 3.12(d), the
Certificate Administrator shall file such Schedule AL Additional File as Exhibit 103 to such Form ABS-EE. After preparing
the Form ABS-EE, the Certificate Administrator shall forward electronically a copy of such Form ABS-EE (together with the related
CREFC® Schedule AL File, any Schedule AL Additional File received by the Certificate Administrator in both EDGAR-Compatible
Format and Excel format) concurrently with the related Form 10-D to the Depositor for review and approval. Any questions are
to be directed to Midland Loan Services, a Division of PNC Bank, National Association at the e-mail address provided with the submission
of such CREFC® Schedule AL File and Schedule AL Additional File (or such other e-mail address or phone number provided
to the Certificate Administrator and Depositor by written notice from the Master Servicer). The Master Servicer shall reasonably
cooperate with the Depositor to answer any questions that the Depositor may pose to the Master Servicer regarding any CREFC®
Schedule AL File or Schedule AL Additional File (other than questions regarding data that is in the Initial Schedule AL File, the
Initial Schedule AL Additional File or the Annex A-1 to the Prospectus) that the Master Servicer provided to the Certificate Administrator.
The Certificate Administrator, the Master Servicer, and the Depositor shall each, to the extent related to such party’s obligations
hereunder, reasonably cooperate to remedy any filing errors regarding any CREFC® Schedule AL File or any Schedule
AL Additional File promptly.

 

Within two (2) Business
Days after receipt of the copy of Form ABS-EE for review, but no later than the two (2) Business Days prior to the 15th calendar
day after the Distribution Date, the Depositor shall notify the Certificate Administrator in writing (which may be furnished electronically)
of any changes to or approval of such Form ABS-EE, and a duly authorized officer of the Depositor shall sign the Form ABS-EE and
return an electronic or fax copy of such signed Form ABS-EE (with an original executed hard copy to follow by overnight mail) to
the Certificate Administrator. The Certificate Administrator shall file such Form ABS-EE, upon receipt of the Depositor’s
signature thereof, prior to the filing of the related Form 10-D. If a Form ABS-EE cannot be filed on time or if a previously
filed Form ABS-EE needs to be amended, the Certificate Administrator shall follow the procedures set forth in Section 11.03(b).
Promptly after filing with the Commission, the Certificate Administrator shall, pursuant to Section 3.13(b), make available
on the Certificate Administrator’s website a final executed copy of each Form ABS-EE (together with the related CREFC®
Schedule AL File and any Schedule AL Additional File received by the Certificate Administrator) filed by the Certificate Administrator.
The signing party at the Depositor can be contacted at Barclays Commercial Mortgage Securities LLC, 745 Seventh Avenue, New York,
New York 10019, Attention: Daniel Vinson, Email: Daniel.vinson@barclays.com, with a copy to Barclays Capital Inc., 745 Seventh
Avenue, New York, New York 10019, Attention: Steven P. Glynn, Director, Legal Department, Email: steven.glynn@barclays.com. The
parties to this Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section
11.04(c) related to the timely preparation and filing of Form ABS-EE is contingent upon the responsible parties observing all
applicable deadlines in the performance of their duties under this Section 11.04(c). The Certificate Administrator shall
have no liability for any loss, expense, damage, claim arising out of or with

 

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respect to any failure to properly prepare or file
such Form ABS-EE where such failure results from the Certificate Administrator’s inability or failure to receive on a timely
basis any information from any other party hereto needed to prepare, arrange for execution or file such Form ABS-EE, not resulting
from its own negligence, bad faith or willful misconduct.

 

The Depositor hereby
directs the Certificate Administrator to include the following individual’s name and phone number on the cover of Form ABS-EE
for each reporting period: Name: Daniel Vinson, Telephone: (212) 528-8224. The Certificate Administrator may rely without
further investigation that this information remains correct unless and until the Depositor provides the Certificate Administrator
with a new individual’s name and phone number in writing.

 

(d)        
Any notice and/or information furnished or required to be furnished pursuant to this Section 11.04 shall also be
provided to each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information relates
to a Serviced Companion Loan or a party that services, specially services or is trustee or custodian for a Serviced Companion Loan)
in the same time frame as set forth in this Section 11.04.

 

Section 11.05   
Form 10-K Filings. (a) Within ninety (90) days after the end of each fiscal year of the Trust (it being
understood that the fiscal year for the Trust ends on December 31 of each year) or such earlier date as may be required by
the Exchange Act (the “10-K Filing Deadline”), commencing in March 2020, the Certificate Administrator shall
prepare and file on behalf of the Trust a Form 10-K, in form and substance as required by the Exchange Act. Each such
Form 10-K shall include the following items, in each case to the extent they have been delivered to the Certificate Administrator
within the applicable time frames set forth in this Agreement:

 

(i)         
an annual compliance statement for the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Custodian and each Additional Servicer, as described under Section 11.09, including disclosure regarding any material
instance of noncompliance and the nature and status thereof;

 

(ii)        
(A) the annual reports on assessment of compliance with servicing criteria for the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator, the Custodian, the Operating Advisor, each Additional Servicer and each other Servicing
Function Participant utilized by the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor,
the Custodian or Trustee, as described under Section 11.10; and

 

(B)             
if any such report on assessment of compliance with servicing criteria described under Section 11.10 identifies any
material instance of noncompliance, disclosure identifying such instance of noncompliance (including whether such instance of noncompliance
involved the servicing of the assets backing the Certificates issued pursuant to this Agreement and any steps taken to remedy such
instance of noncompliance), or if such report on assessment of compliance with servicing criteria described under Section 11.10
is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such
report is not included;

 

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(iii)       
(A) the registered public accounting firm attestation report for the Trustee, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Custodian, the Operating Advisor, each Additional Servicer and each Servicing Function Participant
utilized by the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the Custodian or the
Trustee, as described under Section 11.11; and

 

(B)             
if any registered public accounting firm attestation report described under Section 11.11 identifies any material
instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting firm
attestation report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an
explanation why such report is not included; and

 

(iv)        
a certification in the form attached hereto as Exhibit Y, with such changes as may be necessary or appropriate
as a result of changes promulgated by the Commission (the “Sarbanes-Oxley Certification”), which shall,
except as described below, be signed by the senior officer of the Depositor in charge of securitization.

 

Any disclosure or information
in addition to clauses (i) through (iv) above that is required to be included on Form 10-K (“Additional
Form 10-K Disclosure”) shall, pursuant to the following paragraph be reported by the parties set forth on Exhibit CC
to the Depositor and the Certificate Administrator and approved by the Depositor and the Certificate Administrator will have no
duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure, absent such reporting,
direction and approval. Information delivered to the Certificate Administrator hereunder should be delivered (i) by email
to cts.sec.notifications@wellsfargo.com or by facsimile to (410) 715-2380, Attn: CTS SEC Notifications and also (ii) by
email to Form10k.Compliance@cwt.com.

 

As set forth on Exhibit CC
hereto, no later than March 1st of each year that the Trust is subject to the Exchange Act reporting requirements, commencing
in 2020, (i) the parties listed on Exhibit CC shall be required to provide to the Certificate Administrator and
the Depositor, to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be, has actual knowledge,
in EDGAR-Compatible Format or in such other format as otherwise agreed upon by the Certificate Administrator, the Depositor
and such providing parties, the form and substance of any Additional Form 10-K Disclosure, if applicable, (ii) the
parties listed on Exhibit CC hereto shall include with such Additional Form 10-K Disclosure, an Additional
Disclosure Notification in the form attached hereto as Exhibit EE and (iii) the Depositor will approve, as to
form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-K Disclosure on Form 10-K.
Neither the Trustee nor the Certificate Administrator has any duty under this Agreement to monitor or enforce the performance by
the parties listed on Exhibit CC of their duties under this paragraph or proactively solicit or procure from such parties
any Additional Form 10-K Disclosure information. The Depositor will be responsible for any reasonable expenses incurred
by the Trustee and the Certificate Administrator in connection with including any Additional Form 10-K Disclosure on Form 10-K
pursuant to this paragraph.

 

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Form 10-K requires
the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past
ninety (90) days”. The Depositor shall notify the Certificate Administrator in writing, no later than March 1st with
respect to the filing of a report on Form 10-K, if the answer to the questions should be “no”. The Certificate
Administrator shall be entitled to rely on such representations in preparing, executing and/or filing any such report.

 

(b)          
After preparing the Form 10-K, the Certificate Administrator shall forward electronically a copy of the Form 10-K
to the Depositor for review no later than six (6) Business Days prior to the 10-K Filing Deadline. Within three (3) Business
Days after receipt of such copy, but no later than March 25th, the Depositor shall notify the Certificate Administrator in
writing (which may be furnished electronically) of any changes to or approval of such Form 10-K and the senior officer
in charge of securitization for the Depositor shall sign the Form 10-K and return an electronic or fax copy of such signed
Form 10-K (with an original executed hard copy to follow by overnight mail) to the Certificate Administrator at such time.
If a Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be amended, the Certificate
Administrator shall follow the procedures set forth in Section 11.03(b). Promptly after filing with the Commission, the
Certificate Administrator shall make available on its Internet website a final executed copy of each Form 10-K filed by
the Certificate Administrator. The signing party at the Depositor can be contacted at Barclays Commercial Mortgage Securities LLC,
745 Seventh Avenue, New York, New York 10019, Attention: Daniel Vinson, Email: Daniel.vinson@barclays.com, with a copy to Barclays
Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention: Steven P. Glynn, Director, Legal Department, Email: steven.glynn@barclays.com.
The parties to this Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section
11.05 related to the timely preparation and filing of Form 10-K is contingent upon the parties to this Agreement (and
any Additional Servicer or Servicing Function Participant engaged or utilized, as applicable, by any such parties) observing all
applicable deadlines in the performance of their duties under this Section 11.05. Neither the Trustee nor the Certificate
Administrator shall have any liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly
prepare, arrange for execution and/or timely file such Form 10-K, where such failure results from the Certificate Administrator’s
failure to receive, on a timely basis, any information from the parties to this Agreement (or any Sub-Servicer or Servicing
Function Participant engaged by any such parties) needed to prepare, arrange for execution or file such Form 10-K, not
resulting from its own negligence, bad faith or willful misconduct.

 

(c)          
Upon written request from any Mortgage Loan Seller, Other Depositor, the Master Servicer or the Special Servicer, the Certificate
Administrator shall confirm to such Mortgage Loan Seller, Other Depositor, Master Servicer or Special Servicer whether it has received
notice that any party to this Agreement has changed since the Closing Date and will provide to such Mortgage Loan Seller or Other
Depositor, the Master Servicer or the Special Servicer, if known to the Certificate Administrator, the identity of the new party.

 

(d)          
Any notice and/or information furnished or required to be furnished pursuant to this Section 11.05 shall also be
provided to each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information relates
to a Serviced

 

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Companion Loan or a party that services, specially services or is trustee or custodian for a Serviced Companion Loan)
in the same time frame as set forth in this Section 11.05.

 

Section 11.06   
Sarbanes-Oxley Certification. Each Form 10-K shall include a Sarbanes-Oxley Certification in the
form attached as Exhibit Y required to be included therewith pursuant to the Sarbanes-Oxley Act. For so long as
the Trust or the trust for any Other Securitization is subject to the reporting requirements of the Exchange Act, the Master Servicer,
the Special Servicer, the Trustee, the Certificate Administrator, the Custodian, the Operating Advisor and the Asset Representations
Reviewer (in the case of the Asset Representations Reviewer, solely with respect to reporting periods in which the Asset Representations
Reviewer is required to deliver an Asset Review Report) shall provide, and (i) with respect to each Initial Sub-Servicer
engaged by the Master Servicer or the Special Servicer, as the case may be, that is a Servicing Function Participant shall use
commercially reasonable efforts to cause such Initial Sub-Servicer to provide, and (ii) with respect to each other Servicing
Function Participant with which the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian
or the Operating Advisor has entered into a servicing relationship with respect to the Mortgage Loans, shall cause such Servicing
Function Participant to provide, to each Person who signs the Sarbanes-Oxley Certification for the Trust or any Other Securitization
that includes a Serviced Companion Loan (individually and collectively, the “Certifying Person”), on or before
March 1st of each year commencing in March 2020, a certification substantially in the form attached hereto as Exhibits Z-1,
Z-2, Z-3, Z-4, Z-5, Z-6 or Z-7 (each, a “Performance
Certification”), as applicable, on which each Certifying Person, the entity for which such Certifying Person acts as
an officer (if the Certifying Person is an individual), and such entity’s officers, directors and Affiliates (collectively
with the Certifying Person, “Certification Parties”) can reasonably rely; provided that, if a Servicing
Function Participant (other than an Initial Sub-Servicer) with which the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator, the Custodian or the Operating Advisor has entered into a servicing relationship with respect to
the Mortgage Loans fails to provide a Performance Certification, the Performance Certification provided by the Master Servicer,
the Special Servicer, the Trustee, the Certificate Administrator, the Custodian or the Operating Advisor, as applicable, that engaged
such Servicing Function Participant shall not exclude information that would have been provided by such Servicing Function Participant.
In addition, in the event that any Companion Loan (other than a Non-Serviced Companion Loan) is deposited into a commercial
mortgage securitization (an “Other Securitization”) and the Reporting Servicer is provided with timely and complete
contact information for the parties to such Other Securitization, each Reporting Servicer, upon not less than thirty (30) days
prior written request, shall provide to the Person who signs the Sarbanes-Oxley Certification with respect to such Other Securitization
either the Performance Certification or a separate certification in form and substance similar to applicable Performance Certification
(which shall address the matters contained in the applicable Performance Certification, but solely with respect to the related
Companion Loan) on which such Person, the entity for which the Person acts as an officer (if the Person is an individual), and
such entity’s officers, directors and Affiliates can reasonably rely. With respect to any Non-Serviced Companion Loan,
the Certificate Administrator will use its reasonable efforts to procure a Sarbanes-Oxley Certification from the applicable
Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar
to a Performance Certification. The senior officer in charge of securitization for the Depositor shall serve as the Certifying
Person on behalf of the Trust. In addition, each Reporting Servicer shall execute a

 

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reasonable reliance certificate (which may
be included as part of such other certifications being delivered by such Reporting Servicer) to enable the Certification Parties
to rely upon each (i) annual compliance statement provided pursuant to Section 11.09, if applicable, (ii) annual
report on assessment of compliance with servicing criteria provided pursuant to Section 11.10 and (iii) accountant’s
report provided pursuant to Section 11.11, and shall include a certification that each such annual compliance statement
or report discloses any deficiencies or defaults described to the registered public accountants of such Reporting Servicer to enable
such accountants to render the certificates provided for in Section 11.11. In the event any Reporting Servicer is terminated
or resigns pursuant to the terms of this Agreement, or any applicable sub-servicing agreement or primary servicing agreement,
as the case may be, such Reporting Servicer shall provide a certification to each affected Certifying Person pursuant to this Section
11.06 with respect to the period of time it was subject to this Agreement or the applicable sub-servicing or primary servicing
agreement, as the case may be. Each such Performance Certification shall be provided in EDGAR-Compatible Format, or in such
other format agreed upon by the Depositor, the Certificate Administrator, any affected Other Depositor and Other Certificate Administrator
and such providing parties. Notwithstanding the foregoing, nothing in this Section 11.06 shall require any Reporting Servicer
(i) to certify or verify the accurateness or completeness of any information provided to such Reporting Servicer by third
parties (including a “significant obligor”, but other than an Additional Servicer or a Sub-Servicer appointed pursuant
to Section 3.20), (ii) to certify information other than to such Reporting Servicer’s knowledge and in accordance
with such Reporting Servicer’s responsibilities hereunder or (iii) with respect to completeness of information and reports,
to certify anything other than that all fields of information called for in written reports prepared by such Reporting Servicer
have been completed except as they have been left blank on their face.

 

Notwithstanding anything
to the contrary contained in this Section 11.06, with respect to each year in which the Trust and the trust for each Other
Securitization is not subject to the reporting requirements of the Exchange Act, none of the parties required to deliver any certification
under this Section 11.06 shall be obligated to do so.

 

Section 11.07      
Form 8-K Filings. Within four (4) Business Days after the occurrence of an event requiring disclosure
on Form 8-K (each such event, a “Reportable Event”), and if requested by the Depositor and to the extent
it receives the Form 8-K Disclosure Information described below, the Certificate Administrator shall prepare and file
on behalf of the Trust any Form 8-K, as required by the Exchange Act and shall provide notice thereof to Form10K.Compliance@cwt.com,
provided that the Depositor shall file the initial Form 8-K in connection with the issuance of the Certificates.
Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form 8-K (“Form 8-K
Disclosure Information”) shall, pursuant to the following paragraph be reported by the parties set forth on Exhibit DD
to the Depositor and the Certificate Administrator and approved by the Depositor, and the Certificate Administrator will have no
duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information or any Form 8-K,
absent such reporting, direction and approval.

 

As set forth on Exhibit DD
hereto, for so long as the Trust is subject to the Exchange Act reporting requirements, no later than close of business, New York
City time, on the 2nd Business Day after the occurrence of a Reportable Event (i) the parties set forth on Exhibit DD

 

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hereto shall be required to provide to the Depositor and the Certificate Administrator, to the extent a Regulation AB Servicing
Officer or Responsible Officer, as the case may be, has actual knowledge, in EDGAR-Compatible Format or in such other format
agreed upon by the Depositor, the Certificate Administrator and such providing parties any Form 8-K Disclosure Information,
if applicable, (ii) the parties listed on Exhibit DD hereto shall include with such Form 8-K Disclosure
Information, an Additional Disclosure Notification in the form attached hereto as Exhibit EE and (iii) the Depositor
will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information
on Form 8-K. Neither the Trustee nor the Certificate Administrator has any duty under this Agreement to monitor or enforce
the performance by the parties listed on Exhibit DD of their duties under this paragraph or proactively solicit or
procure from such parties any Form 8-K Disclosure Information. The Depositor will be responsible for any reasonable expenses
incurred by the Trustee and the Certificate Administrator in connection with including any Form 8-K Disclosure Information
on Form 8-K pursuant to this paragraph. Information delivered to the Certificate Administrator hereunder should be delivered
by email to cts.sec.notifications@wellsfargo.com or by facsimile to 410-715-2380, Attn: CTS SEC Notifications.

 

After preparing the Form 8-K,
the Certificate Administrator shall forward electronically a copy of the Form 8-K to the Depositor for review no later
than noon, New York City time, on the 3rd Business Day after the Reportable Event, but in no event earlier than 24 hours
after having received the Form 8-K Disclosure Information pursuant to the immediately preceding paragraph. Promptly, but
no later than the close of business on the 3rd Business Day after the Reportable Event, the Depositor shall notify the Certificate
Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form 8-K. No later
than noon, New York City time, on the 4th Business Day after the Reportable Event, a duly authorized officer of the Depositor
shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed
hard copy to follow by overnight mail) to the Certificate Administrator. If a Form 8-K cannot be filed on time or if a
previously filed Form 8-K needs to be amended, the Certificate Administrator will follow the procedures set forth in Section
11.03(b). Promptly after filing with the Commission, the Certificate Administrator will, make available on its Internet website
a final executed copy of each Form 8-K filed by the Certificate Administrator. The signing party at the Depositor can
be contacted at Barclays Commercial Mortgage Securities LLC, 745 Seventh Avenue, New York, New York 10019, Attention: Daniel Vinson,
Email: Daniel.vinson@barclays.com, with a copy to Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention:
Steven P. Glynn, Director, Legal Department, Email: steven.glynn@barclays.com. The parties to this Agreement acknowledge that the
performance by the Certificate Administrator of its duties under this Section 11.07 related to the timely preparation and
filing of Form 8-K is contingent upon such parties observing all applicable deadlines in the performance of their duties
under this Section 11.07. Neither the Trustee nor the Certificate Administrator shall have any liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file such
Form 8-K, where such failure results from the Certificate Administrator’s inability or failure to receive, on a
timely basis, any information from the parties to this Agreement needed to prepare, arrange for execution or file such Form 8-K,
not resulting from its own negligence, bad faith or willful misconduct.

 

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The Master Servicer,
the Special Servicer, the Certificate Administrator and the Trustee shall promptly notify (and the Master Servicer and the Special
Servicer, as the case may be, shall (i) with respect to each Initial Sub-Servicer that is an Additional Servicer engaged
by the Master Servicer or the Special Servicer, as applicable, use commercially reasonable efforts to cause such Additional Servicer
to promptly notify and (ii) with respect to each other Additional Servicer with which it has entered into a servicing relationship
with respect to the Mortgage Loans (other than a party to this Agreement) cause such Additional Servicer to promptly notify) the
Depositor and the Certificate Administrator, but in no event later than noon, New York City time, on the 2nd Business Day
after its occurrence, of any Reportable Event applicable to such party to the extent a Regulation AB Servicing Officer or Responsible
Officer, as the case may be, has actual knowledge, in EDGAR-Compatible Format.

 

Notwithstanding anything
to the contrary in this Section 11.07, with respect to each year in which the Trust and the trust for each Other Securitization
is not subject to the reporting requirements of the Exchange Act, none of the parties hereto are required to deliver Form 8-K
Disclosure Information.

 

Any notice and/or information
furnished or required to be furnished pursuant to this Section 11.07 shall also be provided to each Other Depositor and
each Other Certificate Administrator (to the extent the notice and/or information relates to a Serviced Companion Loan or a party
that services, specially services or is trustee or custodian for a Serviced Companion Loan) in the same time frame as set forth
in this Section 11.07.

 

For so long as the Trust
is subject to the reporting obligations of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under
a related Non-Serviced PSA, no resignation, removal or replacement of any party to such Non-Serviced PSA that would be
required to be reported on a Form 8-K relating to this Trust shall become effective with respect to this Trust until the
Certificate Administrator has filed any required Form 8-K pursuant to this Section 11.07.

 

Section 11.08      
Form 15 Filing. On or prior to January 30th of the first year in which the Depositor shall provide
notice to the Certificate Administrator of its ability under applicable law to suspend its Exchange Act filings, the Certificate
Administrator shall prepare and file a notification relating to the automatic suspension of reporting in respect of the Trust under
the Exchange Act (the “Form 15 Suspension Notification”) or any form necessary to be filed with the Commission
to suspend such reporting obligations. With respect to any reporting period occurring after the filing of such form, subject to
Section 11.15(h), the obligations of the parties to this Agreement under Section 11.04, Section 11.05 and
Section 11.07 shall be suspended and reports or certifications due under Section 11.09, 11.10 and 11.11
shall not be due until April 15th of each year. The Certificate Administrator shall provide prompt notice to the Mortgage
Loan Sellers and all other parties hereto that such form has been filed. If, after the filing of a Form 15 Suspension Notification,
the Depositor shall provide notice to the Certificate Administrator that it is required to resume its Exchange Act filings, the
Certificate Administrator shall recommence preparing and filing reports on Forms 10-D, ABS-EE, 10-K and 8-K as required
pursuant to Section 11.04, Section 11.05 and Section 11.07, and all parties’ obligations under this
Article XI shall recommence.

 

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Section 11.09     
Annual Compliance Statements. The Master Servicer, the Special Servicer (regardless of whether the Special Servicer
has commenced special servicing of a Mortgage Loan), the Custodian, the Trustee (provided, however, that the Trustee
shall not be required to deliver an assessment of compliance with respect to any period during which there was no Relevant Servicing
Criteria applicable to it) and the Certificate Administrator (each, a “Certifying Servicer”) shall (and each
such party shall (i) with respect to each Additional Servicer engaged by the Certifying Servicer that is an Initial Sub-Servicer,
use commercially reasonable efforts to cause such Additional Servicer to deliver to and (ii) with respect to each other Additional
Servicer that is also a Servicing Function Participant with which it has entered into a servicing relationship with respect to
the Mortgage Loans, cause such Additional Servicer to deliver to), on or before March 1st of each year, commencing in
March 2020, deliver to the Trustee, the Certificate Administrator (which copy shall be deemed furnished by the Certificate Administrator
when made available on its Internet website), the Depositor and the 17g-5 Information Provider (who shall post to the 17g-5
Information Provider’s Website), an Officer’s Certificate, in the form attached hereto as Exhibit HH (or
such other form, similar in substance, as may be reasonably acceptable to the Depositor) stating, as to the signer thereof, that
(A) a review of such Certifying Servicer’s activities during the preceding calendar year or portion thereof and of such
Certifying Servicer’s performance under this Agreement, or the applicable sub-servicing agreement or primary servicing
agreement in the case of an Additional Servicer, has been made under such officer’s supervision and (B) to the best
of such officer’s knowledge, based on such review, such Certifying Servicer has fulfilled all its obligations under this
Agreement, or the applicable sub-servicing agreement or primary servicing agreement in the case of an Additional Servicer,
in all material respects throughout such year or portion thereof, or, if there has been a failure to fulfill any such obligation
in any material respect, specifying each such failure known to such officer and the nature and status thereof. Such Officer’s
Certificate shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor, the Certificate
Administrator and such providing parties. Each Certifying Servicer shall (i) with respect to each Additional Servicer engaged
by such Certifying Servicer that is an Initial Sub-Servicer, use commercially reasonable efforts to cause such Additional Servicer,
and (ii) with respect to each other Additional Servicer with which it has entered into a servicing relationship with respect
to the Mortgage Loans, cause such Additional Servicer to forward a copy of each such statement (or, in the case of the Certificate
Administrator, make a copy of each such statement available on its Internet website) to the Directing Certificateholder and the
17g-5 Information Provider. With respect to any Non-Serviced Companion Loan, the Certificate Administrator will use its
reasonable efforts to procure such Officer’s Certificate from the applicable Non-Serviced Master Servicer, Non-Serviced
Special Servicer and Non-Serviced Trustee in form and substance similar to the form attached hereto as Exhibit HH.
Promptly after receipt of each such Officer’s Certificate, the Depositor may review each such Officer’s Certificate
and, if applicable, consult with the Certifying Servicer as to the nature of any failures by the Certifying Servicer or any related
Additional Servicer with which the Certifying Servicer has entered into a servicing relationship with respect to the Mortgage Loans
in the fulfillment of any of the Certifying Servicer’s or Additional Servicer’s obligations hereunder or under the
applicable sub-servicing or primary servicing agreement. The obligations of the Certifying Servicer and each Additional Servicer
under this Section 11.09 apply to the Certifying Servicer and each Additional Servicer that serviced a Mortgage Loan during
the applicable period, whether or not such Certifying Servicer or Additional Servicer is acting as the Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator or Additional Servicer at the time

 

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such Officer’s Certificate is required
to be delivered. None of the Master Servicer, Special Servicer or Additional Servicer shall be required to cause the delivery of
any such statement until April 15 in any given year so long as it has received written confirmation from the Depositor (or,
in the case of an Other Securitization, the related Other Depositor) that a report on Form 10-K is not required to be
filed in respect of the Trust or the trust for any Other Securitization for the preceding calendar year.

 

In the event the Master
Servicer, the Special Servicer, the Trustee or the Certificate Administrator is terminated or resigns pursuant to the terms of
this Agreement, such party shall provide, and each of the Master Servicer and the Special Servicer shall (i) with respect
to an Initial Sub-Servicer engaged by such party that is an Additional Servicer that resigns or is terminated under any applicable
servicing agreement, use its reasonable efforts to cause such Additional Servicer to provide and (ii) with respect to any
other Additional Servicer engaged by such party that resigns or is terminated under any applicable servicing agreement, cause such
Additional Servicer to provide, an annual statement of compliance pursuant to this Section 11.09 with respect to the period
of time that the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator was subject to this Agreement
or the period of time that such Additional Servicer was subject to such other servicing agreement.

 

Any certificate, statement,
report, notice and/or information furnished or required to be furnished pursuant to this Section 11.09 shall also be provided
to each Other Depositor and each Other Certificate Administrator (to the extent such item and/or information relates to a party
that services, specially services or is trustee or custodian for a Serviced Companion Loan) in the same time frame as set forth
in this Section 11.09.

 

Section 11.10   
Annual Reports on Assessment of Compliance with Servicing Criteria. (a) On or before March 1st of each
year, commencing in March 2020, the Master Servicer, the Special Servicer (regardless of whether the Special Servicer has commenced
special servicing of the Mortgage Loans), the Trustee (provided, however, that the Trustee shall be required to deliver
an assessment of compliance only if an Advance was made by the Trustee in such calendar year), the Custodian, the Operating Advisor,
the Certificate Administrator and each Additional Servicer, each at its own expense, shall furnish (and each such party shall (i) with
respect to each Initial Sub-Servicer engaged by the Master Servicer, the Special Servicer, the Trustee, the Operating Advisor,
the Custodian or the Certificate Administrator that is a Servicing Function Participant, use commercially reasonable efforts to
cause such Servicing Function Participant to furnish and (ii) with respect to each other Servicing Function Participant with
which it has entered into a servicing relationship with respect to the Mortgage Loans, cause such Servicing Function Participant
to furnish) to the Trustee, the Certificate Administrator, the Depositor (which copy shall be deemed furnished by the Certificate
Administrator when made available on its Internet website) (and, with respect to the Special Servicer, also to the Operating Advisor),
and the 17g-5 Information Provider, a report substantially in the form of Exhibit II or such other form provided
by such Reporting Servicer that complies in all material respects with the requirements of Item 1122 of Regulation AB, on
an assessment of compliance with the Servicing Criteria applicable to it that contains (A) a statement by such Reporting Servicer
of its responsibility for assessing compliance with the Relevant Servicing Criteria, (B) a statement that such Reporting Servicer
used the Relevant Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such Reporting Servicer’s
assessment of compliance with the

 

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Relevant Servicing Criteria as of and for the period ending the end of the fiscal year covered
by the Form 10-K required to be filed pursuant to Section 11.05, including, if there has been any material instance
of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and
(D) a statement that a registered public accounting firm has issued an attestation report on such Reporting Servicer’s
assessment of compliance with the Relevant Servicing Criteria as of and for such period. With respect to any Non-Serviced Companion
Loan, the Certificate Administrator will use its reasonable efforts to procure such report from the applicable Non-Serviced
Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar to the form attached
hereto as Exhibit II. Such report shall be provided in EDGAR-Compatible Format, or in such other format agreed
upon by the Depositor, the Certificate Administrator and the Reporting Servicer.

 

Each such report shall
be addressed to the Depositor and signed by an authorized officer of the applicable company, and shall address the Relevant Servicing
Criteria specified on a certification substantially in the form of Exhibit AA hereto delivered to the Depositor on
the Closing Date. Promptly after receipt of each such report, (i) the Depositor may review each such report and, if applicable,
consult with each Reporting Servicer as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria
applicable to it (and each Servicing Function Participant engaged or utilized by each Reporting Servicer, as applicable), and (ii) the
Certificate Administrator shall confirm that the assessments taken individually address the Relevant Servicing Criteria for each
party as set forth on Exhibit AA and notify the Depositor of any exceptions. None of the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or any Servicing Function Participant shall be required
to cause the delivery of any such assessments until April 15th in any given year so long as it has received written confirmation
from the Depositor (or, in the case of an Other Securitization, the related Other Depositor) that a report on Form 10-K
is not required to be filed in respect of the Trust or the trust for any Other Securitization for the preceding calendar year.

 

Notwithstanding the foregoing,
at any time that the Certificate Administrator and the Trustee are the same entity, the Certificate Administrator and Trustee may
provide a combined assessment of compliance required pursuant to this Section 11.10(a) in respect of their combined Relevant
Servicing Criteria as set forth on Exhibit AA hereto.

 

(b)          
The Master Servicer, the Special Servicer, the Trustee, the Operating Advisor and the Certificate Administrator hereby acknowledge
and agree that the Relevant Servicing Criteria set forth on Exhibit AA is appropriately set forth with respect to such
party and any Servicing Function Participant with which the Master Servicer, Special Servicer, Trustee, Operating Advisor or Certificate
Administrator has entered into a servicing relationship.

 

(c)            No
later than ten (10) Business Days after the end of each fiscal year for the Trust, the Master Servicer and the Special
Servicer shall notify the Certificate Administrator, the Depositor and each Mortgage Loan Seller as to the name of
each Additional Servicer engaged by it and each Servicing Function Participant utilized by it, in each case other than with
respect to any Initial Sub-Servicer, and the Trustee, the Operating Advisor and the Certificate Administrator shall
notify the Depositor and each Mortgage Loan Seller as to the name of each Servicing Function Participant utilized by it, in
each case by providing an updated Exhibit GG, and each such notice (except to a Mortgage Loan Seller) will
specify what specific Servicing Criteria will be addressed

 

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in the report on assessment of compliance prepared by such Servicing Function Participant. When the Master Servicer,
the Special Servicer, the Trustee, the Certificate Administrator and the Operating Advisor submit their assessments pursuant to
Section 11.10(a), the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Operating
Advisor, as applicable, shall also at such time include the assessment (and related attestation pursuant to Section 11.11)
of each Servicing Function Participant engaged by it.

 

In the event the Master
Servicer, the Special Servicer, the Trustee, the Operating Advisor, the Custodian or the Certificate Administrator is terminated
or resigns pursuant to the terms of this Agreement, such party shall provide, and each such party shall cause any Servicing Function
Participant engaged by it to provide (and each of the Master Servicer and the Special Servicer shall (i) with respect to an
Initial Sub-Servicer engaged by the Master Servicer or Special Servicer that is an Additional Servicer that resigns or is terminated
under any applicable servicing agreement, use its reasonable efforts to cause such Additional Servicer and (ii) with respect
to any other Additional Servicer that resigns or is terminated under any applicable servicing agreement, cause such Additional
Servicer to provide) an annual assessment of compliance pursuant to this Section 11.10, coupled with an attestation as required
in Section 11.11 with respect to the period of time that the Master Servicer, the Special Servicer, the Trustee, the Operating
Advisor, the Custodian or the Certificate Administrator was subject to this Agreement or the period of time that the Additional
Servicer was subject to such other servicing agreement.

 

(d)          
Each of the Operating Advisor and the Special Servicer may at any time request from the Certificate Administrator confirmation
of whether a Control Termination Event, Consultation Termination Event or Operating Advisor Consultation Event occurred during
the previous calendar year, and upon such request the Certificate Administrator shall deliver such confirmation to the Operating
Advisor or the Special Servicer, as applicable, within fifteen (15) days of such request.

 

(e)          
Any certificate, statement, report, assessment, attestation, notice and/or information furnished or required to be furnished
pursuant to this Section 11.10 shall also be provided to each Other Depositor and each Other Certificate Administrator (to
the extent such item and/or information relates to a party that services, specially services or is trustee or custodian for a Serviced
Companion Loan) in the same time frame as set forth in this Section 11.10.

 

Section 11.11   
Annual Independent Public Accountants’ Attestation Report. On or before March 1st of each year, commencing
in March 2020, the Master Servicer, the Special Servicer, the Trustee (provided, however, that the Trustee shall
not be required to deliver an assessment of compliance with respect to any period during which there was no Relevant Servicing
Criteria applicable to it), the Custodian, the Operating Advisor and the Certificate Administrator, each at its own expense, shall
cause (and each such party shall (i) with respect to each Initial Sub-Servicer engaged by the Master Servicer, Special
Servicer, Trustee, Operating Advisor or Certificate Administrator that is a Servicing Function Participant use commercially reasonable
efforts to cause such Servicing Function Participant to cause and (ii) with respect to each other Servicing Function Participant
with which it has entered into a servicing relationship with respect to the Mortgage Loans, cause such Servicing Function Participant
to cause) a registered public accounting firm (which may also render other services to the Master Servicer, the Special Servicer,
the Trustee, the Certificate Administrator, the Custodian, the Operating Advisor or the applicable

 

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Servicing Function Participant,
as the case may be) and that is a member of the American Institute of Certified Public Accountants to furnish a report to the Trustee,
the Certificate Administrator (who will promptly post such report on the Certificate Administrator’s Website pursuant to
Section 3.13(b)) and the Depositor, the 17g-5 Information Provider and, prior to the occurrence and continuance of a
Consultation Termination Event, the Directing Certificateholder, and, promptly, but not earlier than the second Business Day following
the delivery of such report to the 17g-5 Information Provider, to the Rating Agencies, to the effect that (i) it has obtained
a representation regarding certain matters from the management of such Reporting Servicer, which includes an assertion that such
Reporting Servicer has complied with the Relevant Servicing Criteria applicable to it and (ii) on the basis of an examination
conducted by such firm in accordance with standards for attestation engagements issued or adopted by the PCAOB, it is issuing an
opinion as to whether such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria applicable
to it was fairly stated in all material respects. In the event that an overall opinion cannot be expressed, such registered public
accounting firm shall state in such report why it was unable to express such an opinion. Each such related accountant’s attestation
report shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act
and the Exchange Act. Such report must be available for general use and not contain restricted use language. With respect to any
Non-Serviced Companion Loan, the Certificate Administrator will use its reasonable efforts to procure such report from the
applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee. Copies of such statement
will be provided by the Certificate Administrator in accordance with Section 3.13(b). Such report shall be provided in EDGAR-Compatible
Format, or in such other format agreed upon by the Depositor, the Certificate Administrator and the providing parties.

 

Promptly after receipt
of such report from the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor,
the Custodian or any Servicing Function Participant, (i) the Depositor may review the report and, if applicable, consult with
the Master Servicer, the Special Servicer, the Trustee, the Operating Advisor, the Custodian or the Certificate Administrator as
to the nature of any defaults by the Master Servicer, the Special Servicer, the Trustee, the Operating Advisor, the Custodian,
the Certificate Administrator or any Servicing Function Participant with which it has entered into a servicing relationship with
respect to the Mortgage Loans, as the case may be, in the fulfillment of any of the Master Servicer’s, the Special Servicer’s,
the Trustee’s, the Certificate Administrator’s, the Operating Advisor’s, the Custodian’s or the applicable
Servicing Function Participants’ obligations hereunder or under the applicable sub-servicing or primary servicing agreement,
and (ii) the Certificate Administrator shall confirm that each accountants’ attestation report submitted pursuant to
this Section 11.11 relates to an assessment of compliance meeting the requirements of Section 11.10 and notify the
Depositor of any exceptions. None of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the
Operating Advisor, the Custodian or any Additional Servicer shall be required to deliver, or shall be required to cause the delivery
of such reports until April 15th in any given year so long as it has received written confirmation from the Depositor
that a Form 10-K is not required to be filed with respect to the Trust for the preceding fiscal year.

 

Any notice, report, assessment
of compliance, statement, certificate and/or information furnished or required to be furnished pursuant to this Section 11.11
shall also be provided to each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information
relates to a Serviced Companion Loan or a party that services, specially

 

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services or is trustee or custodian for a Serviced Companion
Loan) in the same time frame as set forth in this ‎Section 11.11.

 

Section 11.12      
Indemnification. Each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the
Custodian, the Operating Advisor and the Asset Representations Reviewer shall indemnify and hold harmless each Certification Party
from and against any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments
and other costs and expenses incurred by such Certification Party arising out of (i) an actual breach by the Master Servicer,
the Special Servicer, the Trustee, the Operating Advisor, the Asset Representations Reviewer, the Custodian or the Certificate
Administrator, as the case may be, of its obligations under this Article XI, (ii) negligence, bad faith or willful
misconduct on the part of the Master Servicer, the Special Servicer, the Trustee, the Asset Representations Reviewer, the Operating
Advisor, the Custodian or the Certificate Administrator in the performance of such obligations, or (iii) delivery of any Deficient
Exchange Act Deliverable by, or on behalf of, such party.

 

The Master Servicer,
the Special Servicer, the Trustee, the Operating Advisor and the Certificate Administrator shall (i) with respect to any Initial
Sub-Servicer engaged by the Master Servicer, the Special Servicer, Trustee or Certificate Administrator that is a Servicing
Function Participant or Additional Servicer, use commercially reasonable efforts to cause such party to, and (ii) with respect
to each other Additional Servicer and each Servicing Function Participant with which, in each case, it has entered into a servicing
relationship with respect to the Mortgage Loans, cause such party to, in each case, indemnify and hold harmless each Certification
Party from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related
costs, judgments and any other costs, fees and expenses incurred by such Certification Party arising out of (a) a breach of
its obligations to provide any of the annual compliance statements or annual assessment of compliance with the servicing criteria
or attestation reports pursuant to the applicable sub-servicing or primary servicing agreement, (b) negligence, bad faith
or willful misconduct on its part in the performance of such obligations, (c) any failure by it, as a Servicer (as defined
in Section 11.02(b)) to identify a Servicing Function Participant pursuant to Section 11.02(c), or (d) delivery
of any Deficient Exchange Act Deliverable.

 

In addition, each of
the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Custodian, the Certificate
Administrator and the Trustee shall cooperate (and require each Servicing Function Participant and Additional Servicer retained
by it to cooperate under the applicable Sub-Servicing Agreement) with the Depositor and each Other Depositor as necessary for
the Depositor or such Other Depositor, as applicable, to conduct any reasonable due diligence necessary to evaluate and assess
any material instances of non-compliance disclosed in any of the deliverables required by the applicable reporting requirements
under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder (“Reporting
Requirements”).

 

In connection with comments
provided to the Depositor or any Other Depositor from the Commission or its staff regarding information (x) delivered by the
Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Custodian, the Certificate
Administrator, the Trustee, a Servicing Function Participant or an Additional Servicer, as applicable (“Affected Reporting
Party”), (y) regarding such Affected Reporting Party, and

 

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(z) prepared by such Affected Reporting Party or
any registered public accounting firm, attorney or other agent retained by such Affected Reporting Party to prepare such information,
which information is contained in a report filed by the Depositor or any Other Depositor under the Reporting Requirements and which
comments are received subsequent to the Depositor’s or any Other Depositor’s filing of such report, the Depositor or
any Other Depositor shall promptly provide to such Affected Reporting Party any such comments which relate to such Affected Reporting
Party. Such Affected Reporting Party shall be responsible for timely preparing a written response to the Commission or its staff
for inclusion in the Depositor’s or any Other Depositor’s response to the Commission or its staff, unless such Affected
Reporting Party elects, with the consent of the Depositor or any Other Depositor, as applicable (which consent shall not be unreasonably
denied, withheld or delayed), to directly communicate with the Commission or its staff and negotiate a response and/or resolution
with the Commission or its staff; provided, however, that if an Affected Reporting Party is a Servicing Function
Participant or Additional Servicer retained by the Master Servicer, the Master Servicer shall receive copies of all material communications
pursuant to this Section 11.12. If such election is made, the applicable Affected Reporting Party shall be responsible for
directly negotiating such response and/or resolution with the Commission or its staff in a timely manner; provided that
(i) such Affected Reporting Party shall use reasonable efforts to keep the Depositor or any Other Depositor informed of its
progress with the Commission or its staff and copy the Depositor or any Other Depositor on all correspondence with the Commission
or its staff and provide the Depositor or any Other Depositor with the opportunity to participate (at the Depositor’s or
any Other Depositor’s expense) in any telephone conferences and meetings with the Commission or its staff and (ii) the
Depositor or any Other Depositor shall cooperate with any Affected Reporting Party in order to authorize such Affected Reporting
Party and its representatives to respond to and negotiate directly with the Commission or its staff with respect to any comments
from the Commission or its staff relating to such Affected Reporting Party and to notify the Commission or its staff of such authorization.
The Depositor (or any Other Depositor) and the Affected Reporting Party shall cooperate and coordinate with one another with respect
to any requests made to the Commission or its staff for extension of time for submitting a response or compliance. All respective
reasonable out-of-pocket costs and expenses incurred by the Depositor or any Other Depositor (including reasonable legal
fees and expenses of outside counsel to the Depositor or any Other Depositor, as the case may be) in connection with the foregoing
(other than those costs and expenses required to be at the Depositor’s or any Other Depositor’s expense as set forth
above) and any amendments to any reports filed with the Commission or its staff related thereto shall be promptly paid by the applicable
Affected Reporting Party upon receipt of an itemized invoice from the Depositor or any Other Depositor, as the case may be. Each
of the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian, the Certificate Administrator and the Trustee
shall (i) with respect to any Initial Sub-Servicer engaged by it that is a Servicing Function Participant or Additional
Servicer, use commercially reasonable efforts to cause such party to, and (ii) with respect to each other Additional Servicer
and each Servicing Function Participant with which, in each case, it has entered into a servicing relationship with respect to
the Mortgage Loans, cause such party to, comply with the foregoing by inclusion of similar provisions in the related sub-servicing
or similar agreement.

 

If the indemnification
provided for herein is unavailable or insufficient to hold harmless any Certification Party, then the Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator, the Custodian or the Operating Advisor (the “Performing Party”)
shall

 

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contribute to the amount paid or payable to the Certification Party as a result of the losses, claims, damages or liabilities
of the Certification Party in such proportion as is appropriate to reflect the relative fault of the Certification Party on the
one hand and the Performing Party on the other in connection with a breach of the Performing Party’s obligations pursuant
to Section 11.06, Section 11.09 (if applicable), Section 11.10 or Section 11.11 (or breach of its obligations
under the applicable sub-servicing or primary servicing agreement to provide any of the annual compliance statements or annual
servicing criteria compliance reports or attestation reports) or the Performing Party’s negligence, bad faith or willful
misconduct in connection therewith. The Master Servicer, the Special Servicer, the Trustee, the Operating Advisor and the Certificate
Administrator shall (i) with respect to any Initial Sub-Servicer engaged by the Master Servicer, the Special Servicer,
Trustee or Certificate Administrator that is a Servicing Function Participant or Additional Servicer, use commercially reasonable
efforts to cause such party to, and (ii) with respect to each other Additional Servicer or Servicing Function Participant,
in each case, with which it has entered into a servicing relationship with respect to the Mortgage Loans cause such party, in each
case, to agree to the foregoing indemnification and contribution obligations. This Section 11.12 shall survive the termination
of this Agreement or the earlier resignation or removal of the Master Servicer, the Special Servicer, the Trustee, the Operating
Advisor, the Custodian or the Certificate Administrator.

 

Section 11.13     
Amendments. This Article XI may be amended with the written consent of the parties hereto pursuant to
Section 13.01 for purposes of complying with Regulation AB and/or to conform to standards developed within the commercial
mortgage-backed securities market and the Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates,
Rating Agency Confirmation with respect to the Certificates or, with respect to any Serviced Companion Loan Securities, a confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency
Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25), or the consent of any
Certificateholder, notwithstanding anything to the contrary contained in this Agreement; provided that the reports and certificates
required to be prepared pursuant to Section 3.13, 11.09, 11.10 and 11.11 shall not be eliminated without
Rating Agency Confirmation with respect to the Certificates or, with respect to any Serviced Companion Loan Securities, without
a confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25).
For the avoidance of doubt, any amendment to this Article XI affecting a Serviced Companion Loan shall be subject to
Section 13.01(k).

 

Section 11.14   
   Regulation AB Notices. Any notice, report
or certificate required to be delivered by any of the Master Servicer, the Special Servicer, the Certificate Administrator, the
Operating Advisor, the Asset Representations Reviewer, the Custodian or the Trustee, as the case may be, to the Depositor pursuant
to this Article XI may be delivered via email (and additionally delivered via phone or telecopy), notwithstanding the
provisions of Section 13.05, to cts.sec.notifications@wellsfargo.com and Form10K.compliance@cwt.com.

 

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Section 11.15   
  Certain Matters Relating to the Future Securitization of the Serviced Pari Passu Companion Loans. (a) Each of the
Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer and the Special
Servicer shall use commercially reasonable efforts to cause any sub-servicer appointed with respect to any Serviced Pari Passu
Companion Loan to, upon written request or notice from a Mortgage Loan Seller (or a permitted transferee of such Mortgage Loan
Seller pursuant to the related Intercreditor Agreement), reasonably cooperate with the Mortgage Loan Seller (or such permitted
transferee) selling any Serviced Pari Passu Companion Loan into a securitization that is required to comply with Regulation AB
(a “Regulation AB Companion Loan Securitization”) and, to the extent needed in order to comply with Regulation
AB, provide to the Mortgage Loan Seller (or such permitted transferee) information about itself that such Mortgage Loan Seller
reasonably requires to meet the requirements of Items 1117 and 1119 and paragraphs (b), (c)(2), (c)(3), (c)(4), (c)(5),
(c)(6) and (e) of Item 1108 of Regulation AB and shall reasonably cooperate with such Mortgage Loan Seller to provide such
other information as may be reasonably necessary to comply with the requirements of Regulation AB. Each of the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer understands that such information may be included in the offering material
related to a Regulation AB Companion Loan Securitization and agrees to (i) negotiate in good faith an agreement (subject to
the final sentence of this sub-section) to indemnify and hold the related depositor and underwriters involved in the offering
of the related commercial mortgage pass through certificates harmless for any costs, liabilities, fees and expenses incurred by
the depositor or such underwriters as a result of any material misstatements or omissions or alleged material misstatements or
omissions in any such offering material to the extent that such material misstatement or omission was made in reliance upon any
such information provided by the Trustee (where such information pertains to the Trustee individually and not to any specific aspect
of the Trustee’s duties or obligations under this Agreement), the Certificate Administrator (where such information pertains
to the Certificate Administrator individually and not to any specific aspect of the Certificate Administrator’s duties or
obligations under this Agreement), the Master Servicer (where such information pertains to the Master Servicer individually and
not to any specific aspect of the Master Servicer’s duties or obligations under this Agreement) and the Special Servicer
(where such information pertains to the Special Servicer individually and not to any specific aspect of the Special Servicer’s
duties or obligations under this Agreement), as applicable, to such depositor, underwriters or Mortgage Loan Seller (or permitted
transferee) as required by this Section 11.15(a) and (ii) deliver such securities law opinion(s) of counsel, certifications
and/or indemnification agreement(s) (to the extent the cost thereof is paid by the related Mortgage Loan Seller) with respect to
such information that are substantially similar to those delivered with respect to the offering material for this securitization
by the Master Servicer, the Special Servicer, Trustee and Certificate Administrator, as the case may be, or their respective counsel,
in connection with the information concerning such party in the offering material related to a Regulation AB Companion Loan Securitization.
Notwithstanding the foregoing, to the extent that the information provided by the Trustee, the Certificate Administrator, the Master
Servicer or the Special Servicer, as the case may be, for inclusion in the offering materials related to such Regulation AB Companion
Loan Securitization is substantially and materially similar to the information provided by such party with respect to the offering
materials related to this transaction, subject to any required changes due to any amendments to Regulation AB or any changes in
the interpretation of Regulation AB or changes in factual circumstances, such party shall be deemed to be in compliance with this
Section 11.15(a). Any

 

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indemnification agreement executed by the Trustee, the Certificate Administrator, the Master Servicer
or the Special Servicer in connection with the Regulation AB Companion Loan Securitization shall be substantially similar to the
related indemnification agreement executed in connection with this Agreement. It shall be a condition precedent to any party’s
obligations otherwise set forth above and/or elsewhere in Article XI that the applicable Mortgage Loan Seller (or permitted
transferee) shall have (a) provided reasonable advance notice (and, in any event, not less than 10 Business Days) of the exercise
of its rights hereunder and (b) paid, or entered into reasonable agreement to cause to be paid, the reasonable out-of-pocket
expenses (including reasonable fees and expenses of counsel) incurred by such party in reviewing and/or causing the delivery of
any disclosure, opinion of counsel or indemnification agreement.

 

(b)          
Each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer
and the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect
to a Serviced Securitized Companion Loan to (provided that (a) such party has received notice of the occurrence of
the related Regulation AB Companion Loan Securitization, or (b) such party is also a party to the related Other Pooling and
Servicing Agreement, or (c) the applicable Regulation AB Companion Loan Securitization closed prior to the Closing Date, as
reflected on Exhibit S) cooperate with the depositor, trustee, certificate administrator, master servicer or special
servicer for any Regulation AB Companion Loan Securitization in preparing each Form 10-D, Form ABS-EE and Form 10-K
required to be filed by such Regulation AB Companion Loan Securitization (until January 30 of the first year in which the
trustee or other applicable party for such Regulation AB Companion Loan Securitization files a Form 15 Suspension Notification
with respect to the related trust) and shall provide to such depositor, trustee, certificate administrator or master servicer within
the time period set forth in the Other Pooling and Servicing Agreement (so long as such time period is no earlier than the time
periods set forth herein) for such Regulation AB Companion Loan Securitization such information relating to a Serviced Securitized
Companion Loan as may be reasonably necessary for the depositor, trustee, certificate administrator and master servicer of the
Regulation AB Companion Loan Securitization to comply with the reporting requirements of Regulation AB and the Exchange Act; provided,
however, that any parties to any Regulation AB Companion Loan Securitization shall consult with the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer (and the Master Servicer shall consult with any sub-servicer appointed
by it with respect to the related Serviced Whole Loan), and the Trustee, the Certificate Administrator, the Master Servicer and
the Special Servicer shall cooperate with such parties in respect of establishing the time periods for preparation of the Form 10-D
and Form ABS-EE reports in the documentation for such Regulation AB Companion Loan Securitization. Notwithstanding the foregoing,
to the extent the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as the case may be, complies
in all material respects with the timing, reporting and attestation requirements imposed on such party in Article XI
of this Agreement (other than this Section 11.15) with respect to the comparable timing, reporting and attestation requirements
contemplated in this Section 11.15(b) with respect to such Regulation AB Companion Loan Securitization, such party shall
be deemed to be in compliance with the provisions of this Section 11.15(b).

 

(c)          
Each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall, and the Master Servicer
and the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect
to a Serviced

 

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Securitized Companion Loan to (provided that (a) such party has received notice of the occurrence of
the related Regulation AB Companion Loan Securitization, or (b) such party is also a party to the related Other Pooling and
Servicing Agreement, or (c) the applicable Regulation AB Companion Loan Securitization closed prior to the Closing Date, as
reflected on Exhibit S) provide the depositor, trustee or certificate administrator, as applicable, under a Regulation
AB Companion Loan Securitization (until January 30 of the first year in which the trustee or certificate administrator, as
applicable, for such Regulation AB Companion Loan Securitization files a Form 15 Suspension Notification with respect to the
related trust) information with respect to any event that is required to be disclosed under Form 8-K with respect to a
Serviced Securitized Companion Loan within two (2) Business Days after the occurrence of such event of which it has knowledge.
Notwithstanding the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer,
as the case may be, complies in all material respects with the timing, reporting and attestation requirements imposed on such party
in Article XI of this Agreement (other than this Section 11.15) with respect to the comparable timing, reporting
and attestation requirements contemplated in this Section 11.15(c) with respect to such Regulation AB Companion Loan Securitization,
such party shall be deemed to be in compliance with the provisions of this Section 11.15(c).

 

(d)          
On or before March 1st of each year during which a Regulation AB Companion Loan Securitization is required to
file an annual report on Form 10-K (and not in respect of any year in which such Regulation AB Companion Loan Securitization
is not required to file an annual report on Form 10-K because a Form 15 Suspension Notification with respect to the
related trust was filed), each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall,
and the Master Servicer and the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant
appointed with respect to a Serviced Securitized Companion Loan to (provided that (a) such party has received notice
of the occurrence of the related Regulation AB Companion Loan Securitization, or (b) such party is also a party to the related
Other Pooling and Servicing Agreement, or (c) the applicable Regulation AB Companion Loan Securitization closed prior to the
Closing Date, as reflected on Exhibit S) provide, with respect to itself, to the depositor, trustee or certificate
administrator, as applicable, under such Regulation AB Companion Loan Securitization, to the extent required pursuant to Item 1122
of Regulation AB, (i) a report on an assessment of compliance with the servicing criteria to the extent required pursuant
to Item 1122(a) of Regulation AB, (ii) a registered accounting firm’s attestation report on such Person’s
assessment of compliance with the applicable servicing criteria to the extent required pursuant to Item 1122(b) of Regulation
AB and (iii) such other information as may be required pursuant to Item 1122(c) of Regulation AB. Notwithstanding the
foregoing, to the extent the Master Servicer or the Special Servicer, as the case may be, complies in all material respects with
the timing, reporting and attestation requirements imposed on such party in Article XI of this Agreement (other than
this Section 11.15) with respect to the comparable timing, reporting and attestation requirements contemplated in this Section
11.15(d) with respect to such Regulation AB Companion Loan Securitization, such party shall be deemed to be in compliance with
the provisions of this Section 11.15(d).

 

(e)          
On or before March 1st of each year during which a Regulation AB Companion Loan Securitization is required to
file an annual report on Form 10-K (and not in respect of any year in which such Regulation AB Companion Loan Securitization
is not required to file an annual report on Form 10-K because a Form 15 Suspension Notification with respect to

 

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the
related trust was filed), each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall,
and the Master Servicer and the Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant
appointed with respect to a Serviced Securitized Companion Loan to, to the extent required pursuant to Item 1123 of Regulation
AB, deliver, with respect to itself, to the depositor, trustee or certificate administrator under such Regulation AB Companion
Loan Securitization (provided that (a) such party has received notice of the occurrence of the related Regulation AB
Companion Loan Securitization, or (b) such party is also a party to the related Other Pooling and Servicing Agreement, or
(c) the applicable Regulation AB Companion Loan Securitization closed prior to the Closing Date, as reflected on Exhibit S)
a servicer compliance statement signed by an authorized officer of such Person that satisfies the requirements of Item 1123
of Regulation AB. Notwithstanding the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer
or the Special Servicer, as the case may be, complies in all material respects with the timing, reporting and attestation requirements
imposed on such party in Article XI of this Agreement (other than this Section 11.15) with respect to the comparable
timing, reporting and attestation requirements contemplated in this Section 11.15(e) with respect to such Regulation AB
Companion Loan Securitization, such party shall be deemed to be in compliance with the provisions of this Section 11.15(e).

 

(f)          
Each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall use commercially
reasonable efforts to cause a Servicing Function Participant to agree (severally but not jointly) to indemnify (such indemnity
limited to each such parties respective failure described below) and hold the related Mortgage Loan Seller (or permitted transferee),
depositor, sponsor(s), trustee, certificate administrator or master servicer under a Regulation AB Companion Loan Securitization
harmless for any costs, liabilities, fees and expenses incurred by such Mortgage Loan Seller, depositor, sponsor(s), trustee, certificate
administrator or master servicer as a result of any failure by the Servicing Function Participant to comply with the reporting
requirements to the extent applicable set forth under SectionsSection 11.15(b), (c), (d) or (e) above.

 

Any subservicing agreement
related to a Serviced Securitized Companion Loan shall contain a provision requiring the related Sub-Servicer to provide to
the Master Servicer or the Special Servicer, as applicable, information, reports, statements and certificates with respect to itself
and such Serviced Securitized Companion Loan comparable to any information, reports, statements or certificates required to be
provided by the Master Servicer or the Special Servicer pursuant to this Section 11.15, even if such Sub-Servicer is
not otherwise required to provide such information, reports or certificates to any Person in order to comply with Regulation AB.
Such information, reports or certificates shall be provided to the Master Servicer or the Special Servicer, as the case may be,
no later than two Business Days prior to the date on which the Master Servicer or the Special Servicer, as the case may be, is
required to deliver its comparable information, reports, statements or certificates pursuant to this Section 11.15.

 

(g)           With
respect to any Mortgaged Property that secures a Serviced Pari Passu Companion Loan that the applicable Other Depositor has
notified the Master Servicer and the Special Servicer in writing is a “significant obligor” (within the
meaning of Item 1101(k) of Regulation AB) (together with notification of the relevant Distribution Date) with respect to
an Other Securitization that includes such Serviced Companion Loan, to the extent that the Master

 

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Servicer is in receipt of the updated
financial statements of such “significant obligor” for any calendar quarter (other than the fourth calendar quarter
of any calendar year) from the Mortgagor (in the case of Non-Specially Serviced Loans) or the Special Servicer (in the case of
Specially Serviced Loans and Serviced REO Properties), beginning with the first calendar quarter in which such notice from the
Other Depositor was received, or the updated financial statements of such “significant obligor” for any calendar year,
beginning for the calendar year in which such notice from the Other Depositor was received, as applicable, the Master Servicer
shall deliver to the Other Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant
Obligor NOI Quarterly Filing Deadline or seven (7) Business Days prior to the related Significant Obligor NOI Yearly Filing
Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related
Significant Obligor NOI Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the related Significant Obligor
NOI Yearly Filing Deadline, as applicable, the financial statements of such “significant obligor”, together with the
net operating income of such “significant obligor” for the applicable period as calculated by the Master Servicer (or
by the Special Servicer and provided to the Master Servicer solely in the case of any related Specially Serviced Loan or Serviced
REO Property) in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less
than twelve (12) Business Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than seventeen
(17) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements
of the “significant obligor”, together with the net operating income of such “significant obligor” for
the applicable period as reported by the related Mortgagor in such financial statements (or as reported by the related Mortgagor
to the Special Servicer and provided by the Special Servicer to the Master Servicer solely in the case of any related Specially
Serviced Loan or as reported by the Special Servicer with respect to Serviced REO Property and provided by the Special Servicer
to the Master Servicer).

 

If the Master Servicer
does not receive such financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1)
of Form 10-K, as the case may be, of such “significant obligor” within ten (10) Business Days after the
date such financial information is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall
notify the Other Depositor with respect to such Other Securitization that includes the related Serviced Pari Passu Companion Loan
(and shall cause each applicable Sub-Servicing Agreement entered into after receipt of written notice from the Other Depositor
that such Serviced Pari Passu Companion Loan is a significant obligor to require the related Sub-Servicer to notify such Other
Depositor) that it has not received such financial information. The Master Servicer (in the case of Non-Specially Serviced
Loans) or the Special Servicer (in the case of Specially Serviced Loans) shall use efforts consistent with the Servicing Standard
(taking into account, in addition, the ongoing reporting obligations of such Other Depositor under the Exchange Act) to obtain
the periodic financial statements required to be delivered by the related Mortgagor under the related Mortgage Loan documents.

 

The Master Servicer (with
respect to Non-Specially Serviced Loans) and the Special Servicer (with respect to Specially Serviced Loans) shall (and shall
cause each applicable Sub-Servicing Agreement entered into after receipt of written notice from the Other Depositor that such
Serviced Pari Passu Companion Loan is a significant obligor to require the related Sub-Servicer to) retain written evidence
of each instance in which it (or a Sub-Servicer) attempts to contact the related Mortgagor related to any such “significant
obligor” (identified to it as such

 

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by the Other Depositor in accordance with the second preceding paragraph) to obtain the
required financial information and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D
or Form 10-K, as applicable, is required to be filed with respect to the Other Securitization, shall forward an Officer’s
Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related
to such Other Securitization; provided, however, the Special Servicer shall provide such Officer’s Certificate
to the Master Servicer and the Master Servicer shall forward such Officer’s Certificate to the Other Exchange Act Reporting
Party and Other Depositor related to such Other Securitization. This Officer’s Certificate should be addressed to the certificate
administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.

 

(h)          
If any Other Securitization includes a Serviced Companion Loan and is subject to the reporting requirements of the Exchange
Act, then the obligations of the parties hereto set forth in this Article XI with respect such Other Securitization
shall remain in full force and effect notwithstanding that the Trust may cease to be subject to the reporting requirements of the
Exchange Act.

 

Section 11.16   
Certain Matters regarding Significant Obligors. As of the Closing Date, with respect to the Trust, there is no “significant
obligor” within the meaning of Item 1101(k) of Regulation AB (“Significant Obligor”).

 

Section 11.17   
Impact of Cure Period. For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be
subject to a Servicer Termination Event pursuant to clause (iii) of the definition thereof prior to the expiration of the
grace period applicable to such party’s obligations under this Article XI as provided for in such clause (iii)
nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI;
provided that if any such party fails to comply with the delivery requirements of this Article XI by the expiration
of any applicable grace period such failure shall constitute a Servicer Termination Event. Neither the Master Servicer nor the
Special Servicer shall be subject to a Servicer Termination Event pursuant to clause (iii) of the definition thereof prior
to the expiration of the grace period applicable to such party’s obligations under this Article XI as provided
for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver
any item required under this Article XI by the time required hereunder with respect to any reporting period for which
the Trust (or any trust in a related Other Securitization) is not required to file Exchange Act reports.

 

[End of Article XI]

 

ARTICLE
XII

THE ASSET REPRESENTATIONS REVIEWER

 

Section 12.01   
Asset Review. (a) On or prior to each Distribution
Date, based either on the CREFC® Delinquent Loan Status Report and/or the CREFC® Loan Periodic Update
File delivered by the Master Servicer for such Distribution Date, the Certificate Administrator shall determine if an Asset Review
Trigger has occurred. If an Asset Review Trigger is determined to have occurred, the Certificate Administrator shall promptly provide
notice to all

 

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Certificateholders and each other party to this Agreement. Any notice required to be delivered to the Certificateholders
pursuant to this Article XII shall be delivered by the Certificate Administrator by posting such notice on the Certificate
Administrator’s Website, by mailing such notice to the Certificateholders’ addresses appearing in the Certificate Register
in the case of Definitive Certificates and by delivering such notice via the Depository in the case of Book-Entry Certificates.
The Certificate Administrator shall include in the Form 10-D relating to the reporting period in which the Asset Review
Trigger occurred the following statement describing the events that caused the Asset Review Trigger to occur: “As of the
[Date of Distribution], the following Mortgage Loans identified below are 60 or more days delinquent and an Asset Review Trigger
as defined in the Pooling and Servicing Agreement has occurred.” On each Distribution Date occurring after providing such
notice to Certificateholders, the Certificate Administrator, based on information provided to it by the Master Servicer or the
Special Servicer, as the case may be, shall determine whether (1) any additional Mortgage Loan has become a Delinquent Loan,
(2) any Mortgage Loan has ceased to be a Delinquent Loan and (3) whether an Asset Review Trigger has ceased to exist,
and deliver such information in a written notice (which may be via email) in the form of Exhibit SS within two (2) Business
Days to the Master Servicer, the Special Servicer, the Operating Advisor and the Asset Representations Reviewer.

 

If Certificateholders
evidencing not less than 5% of the Voting Rights of the Certificates deliver to the Certificate Administrator, within 90 days
after the filing of the Form 10-D reporting the occurrence of an Asset Review Trigger, a written direction requesting
a vote to commence an Asset Review (an “Asset Review Vote Election”), then the Certificate Administrator shall
promptly provide written notice thereof to all Certificateholders (with a copy to the Asset Representations Reviewer) and conduct
a solicitation of votes in accordance with Section 5.10 to authorize an Asset Review. Upon the affirmative vote to authorize
an Asset Review by Holders of Certificates evidencing at least (i) a majority of those Certificateholders who cast votes and
(ii) a majority of an Asset Review Quorum within one-hundred fifty (150) days of receipt of the Asset Review Vote
Election (an “Affirmative Asset Review Vote”), the Certificate Administrator shall promptly provide written
notice thereof to all parties to this Agreement, the Underwriters, the Mortgage Loan Sellers, the Directing Certificateholder and
the other Certificateholders (the “Asset Review Notice”). Upon receipt of an Asset Review Notice, the Asset
Representations Reviewer shall request access to the Secure Data Room by providing the Certificate Administrator with a certification
substantially in the form attached hereto as Exhibit RR (which shall be sent via email to trustadministrationgroup@wellsfargo.com
or submitted electronically via the Certificate Administrator’s Website). Upon receipt of such certification, the Certificate
Administrator shall promptly (and in any case within two (2) Business Days after such receipt) grant the Asset Representations
Reviewer access to the Secure Data Room. In the event an Affirmative Asset Review Vote has not occurred within such 150-day
period following the receipt of the Asset Review Vote Election, no Certificateholder may request a vote or cast a vote for an Asset
Review and the Asset Representations Reviewer will not be required to review any Delinquent Loan unless and until (A) an additional
Mortgage Loan has become a Delinquent Loan after the expiration of such 150-day period, (B) a new Asset Review Trigger
has occurred as a result or an Asset Review Trigger is otherwise in effect, (C) the Certificate Administrator has timely received
any Asset Review Vote Election after the occurrence of the events described in clauses (A) and (B) in this sentence and
(D) an Affirmative Asset Review Vote has occurred within 150 days after the Asset Review Vote Election described in clause (C)
in this sentence. After the occurrence of any Asset Review Vote Election or an Affirmative Asset Review

 

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Vote, no Certificateholder
may make any additional Asset Review Vote Election except as described in the immediately preceding sentence. Any reasonable out-of-pocket
expenses incurred by the Certificate Administrator in connection with administering such vote will be paid as an expense of the
Trust from the Collection Account. The Certificate Administrator shall be entitled to administer any vote in connection with the
foregoing through an agent.

 

(b)          
(i) Upon receipt of an Asset Review Notice, the Custodian (with respect to clauses (1)-(5) below for all Mortgage
Loans), the Master Servicer (with respect to clauses (6) and (7) below for Non-Specially Serviced Loans) and the Special
Servicer (with respect to clauses (6) and (7) below for Specially Serviced Loans), in each case, to the extent in such party’s
possession, shall promptly, but in no event later than ten (10) Business Days, provide the following materials in electronic
format to the extent in their possession to the Asset Representations Reviewer (collectively, with the Diligence Files posted on
the Secure Data Room by the Certificate Administrator pursuant to Section 4.08, a copy of the Prospectus, a copy of each
related Mortgage Loan Purchase Agreement and a copy of this Agreement, the “Review Materials”):

 

(1)          
a copy of an assignment of the Mortgage in favor of the Trustee, with evidence of recording thereon, for each Delinquent
Loan that is subject to an Asset Review;

 

(2)          
a copy of an assignment of any related assignment of leases (if such item is a document separate from the Mortgage) in favor
of the Trustee, with evidence of recording thereon, related to each Delinquent Loan that is subject to an Asset Review;

 

(3)          
a copy of the assignment of all unrecorded documents relating to each Delinquent Loan that is subject to an Asset Review,
if not already covered pursuant to items (1) or (2) above;

 

(4)          
copies of all filed copies (bearing evidence of filing) or evidence of filing of any UCC financing statements related to
each Delinquent Loan that is subject to an Asset Review;

 

(5)          
a copy of an assignment in favor of the Trustee of any financing statement executed and filed in the relevant jurisdiction
related to each Delinquent Loan that is subject to an Asset Review;

 

(6)          
a copy of any notice previously delivered by the Master Servicer or Special Servicer, as applicable, of any alleged defect
or breach with respect to any Delinquent Loan; and

 

(7)          
copies of any other related documents that were entered into or delivered in connection with the origination of the related
Mortgage Loan that the Asset Representations Reviewer has determined are necessary in connection with its completion of any Asset
Review and that are requested by the Asset Representations Reviewer, in the time frames and as otherwise described in clause (ii)
hereof.

 

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(ii)          
In addition, in the event that, as part of an Asset Review of a Mortgage Loan, the Asset Representations Reviewer determines
it is missing any document that is required to be part of the Review Materials for such Mortgage Loan and that is necessary in
connection with its completion of the Asset Review, the Asset Representations Reviewer shall promptly, but in no event later than
ten (10) Business Days after receipt of the Review Materials, notify the Master Servicer (with respect to Non-Specially
Serviced Loans) or the Special Servicer (with respect to Specially Serviced Loans), as applicable, of such missing document(s),
and request that the Master Servicer or the Special Servicer, as the case may be, promptly, but in no event later than ten (10) Business
Days after receipt of notification from the Asset Representations Reviewer, deliver to the Asset Representations Reviewer such
missing document(s) to the extent in its possession. In the event any missing documents are not provided by the Master Servicer
or the Special Servicer, as the case may be, within such ten (10) Business Day period, the Asset Representations Reviewer
shall request such documents from the related Mortgage Loan Seller; provided that the Mortgage Loan Seller shall be required
under the related Mortgage Loan Purchase Agreement to deliver such missing document only to the extent such document is in the
possession of such party but in any event excluding any documents that contain information that is proprietary to the related originator
or Mortgage Loan Seller or any draft documents or privileged or internal communications.

 

(iii)         
The Asset Representations Reviewer may, but is under no obligation to, consider and rely upon information furnished to it
by a Person that is not a party to this Agreement or the applicable Mortgage Loan Seller, and shall do so only if such information
can be independently verified (without unreasonable effort or expense to the Asset Representations Reviewer) and is determined
by the Asset Representations Reviewer in its good faith and sole discretion to be relevant to the Asset Review conducted pursuant
to this Section 12.01 (any such information, “Unsolicited Information”).

 

(iv)         
Upon receipt by the Asset Representations Reviewer of the Asset Review Notice and access to the Diligence File with respect
to a Delinquent Loan, the Asset Representations Reviewer, as an independent contractor, shall commence a review of the compliance
of each Delinquent Loan with the representations and warranties related to that Delinquent Loan (such review, the “Asset
Review”). The Asset Representations Reviewer shall perform an Asset Review with respect to each representation and warranty
made by the related Mortgage Loan Seller with respect to such Delinquent Loan in accordance with the procedures set forth on Exhibit QQ
(each such procedure, a “Test”); provided, however, that the Asset Representations Reviewer may,
but is under no obligation to, (x) modify any Test and/or (y) modify any associated Review Materials to include any items not specified
for the particular Test on Exhibit QQ (but in no event shall the modified Review Materials include materials not contemplated
by the definition of “Review Materials”), in either case, only to the extent the Asset Representations Reviewer
determines pursuant to the Asset Representations Standard that it is necessary to modify such Test and/or such associated Review
Materials in order to facilitate its Asset Review in accordance with the Asset Review Standard. Once an Asset Review of a Mortgage
Loan is completed, no further Asset Review shall be required in respect of, or performed on, such Mortgage Loan notwithstanding
that such Mortgage Loan may continue to be a Delinquent Loan or again become a Delinquent Loan at a time when a new Asset Review
Trigger occurs and a new

 

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Affirmative Asset Review Vote is obtained subsequent to the occurrence of such new Asset Review Trigger.

 

(v)          
No Certificateholder shall have the right to change the scope of the Asset Review, and the Asset Representations Reviewer
shall not be required to review any information other than (1) the Review Materials and (2) if applicable, Unsolicited
Information.

 

(vi)         
The Asset Representations Reviewer may, absent manifest error and subject to the Asset Review Standard, (i) assume,
without independent investigation or verification, that the Review Materials are accurate and complete in all material respects
and (ii) conclusively rely on such Review Materials.

 

(vii)       
The Asset Representations Reviewer shall prepare a preliminary report with respect to each Delinquent Loan within fifty-six
(56) days after the date on which access to the Secure Data Room is provided, subject to the last sentence of this paragraph.
In the event that the Asset Representations Reviewer determines that the Review Materials are insufficient to complete a Test and
such missing documentation is not delivered to the Asset Representations Reviewer by the Master Servicer (with respect to Non-Specially
Serviced Loans), the Special Servicer (with respect to Specially Serviced Loans) to the extent in the possession of the Master
Servicer or Special Servicer, as applicable, or from the related Mortgage Loan Seller within ten (10) Business Days following
the request by the Asset Representations Reviewer to the Master Servicer, the Special Servicer or the related Mortgage Loan Seller,
as the case may be, as described in Section 12.01(b)(ii), the Asset Representations Reviewer shall list such missing documents
in such preliminary report setting forth the preliminary results of the application of the Tests and the reasons why such missing
documents are necessary to complete a Test and (if the Asset Representations Reviewer has so concluded) that the absence of such
documents will be deemed to be a failure of such Test. The Asset Representations Reviewer shall provide such preliminary report
to the Master Servicer (with respect to Non-Specially Serviced Loans) or the Special Servicer (with respect to Specially Serviced
Loans), and the related Mortgage Loan Seller. If the preliminary report indicates that any of the representations and warranties
fails or is deemed to fail any Test, the related Mortgage Loan Seller shall have ninety (90) days (the “Cure/Contest
Period”) to remedy or otherwise refute the failure. Any documents or explanations to support the related Mortgage Loan
Seller’s claim that the representation and warranty has not failed a Test or that any missing information or documents in
the Review Materials are not required to complete a Test shall be sent by such Mortgage Loan Seller to the Asset Representations
Reviewer. For avoidance of doubt, the Asset Representations Reviewer shall not be required to prepare a preliminary report in the
event the Asset Representations Reviewer determines that there is no Test failure with respect to the related Mortgage Loan.

 

(viii)        The Asset Representations Reviewer shall, within sixty (60) days after the date on which access to the Secure Data
Room is provided to the Asset Representations Reviewer by the Certificate Administrator or within the ten (10) days after
the expiration of the Cure/Contest Period (whichever is later), complete an Asset Review with respect to each Delinquent Loan and
deliver (i) a report setting forth the Asset Representations

 

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Reviewer’s findings and conclusions as to whether or not
it has determined there is any evidence of a failure of any Test based on the Asset Review and a statement that the Asset Representations
Reviewer’s findings and conclusions set forth in such report were not influenced by any third party (an “Asset Review
Report”) to each party to this Agreement, the related Mortgage Loan Seller for each Delinquent Loan and the Directing
Certificateholder and (ii) a summary of the Asset Representations Reviewer’s conclusions included in such Asset Review
Report (an “Asset Review Report Summary”) to the Trustee, the Special Servicer, the Master Servicer and the
Certificate Administrator. The period of time by which the Asset Review Report must be completed and delivered may be extended
by up to an additional thirty (30) days, upon written notice to the parties to this Agreement and the applicable Mortgage
Loan Seller, if the Asset Representations Reviewer determines pursuant to the Asset Review Standard that such additional time is
required due to the characteristics of the Mortgage Loan and/or the Mortgaged Property or Mortgaged Properties. In no event may
the Asset Representations Reviewer determine whether any Test failure constitutes a Material Defect, or whether the Trust should
enforce any rights it may have against the applicable Mortgage Loan Seller (or, in the case of Barclays, BCHI in respect of its
obligations under the related Mortgage Loan Purchase Agreement), which, in each case, shall be a responsibility of the Enforcing
Servicer pursuant to Section 12.01(b)(x) of this Agreement.

 

(ix)          
In addition, in the event that the Asset Representations Reviewer does not receive any documentation that it requested from
the Master Servicer (with respect to Non-Specially Serviced Loans), the Special Servicer (with respect to Specially Serviced
Loans) or the related Mortgage Loan Seller in sufficient time to allow the Asset Representations Reviewer to complete its Asset
Review and deliver an Asset Review Report, the Asset Representations Reviewer shall prepare the Asset Review Report solely based
on the documentation received by the Asset Representations Reviewer with respect to the related Delinquent Loan, and the Asset
Representations Reviewer shall have no responsibility to independently obtain any such documentation from any party to this Agreement
or otherwise.

 

(x)           
Within forty-five (45) days after receipt of an Asset Review Report with respect to any Mortgage Loan, the Enforcing
Servicer shall determine, based on the Servicing Standard, whether there exists a Material Defect with respect to such Mortgage
Loan. If the Enforcing Servicer determines that a Material Defect exists, the Enforcing Servicer shall enforce the obligations
of the related Mortgage Loan Seller with respect to such Material Defect in accordance with Section 2.03(b).

 

(c)          
The Asset Representations Reviewer and its affiliates shall keep confidential any information appropriately labeled as “Privileged
Information” received from any party to this Agreement or any Sponsor (including, without limitation, in connection with
the review of the Mortgage Loans) and not disclose such Privileged Information to any Person (including Certificateholders), other
than (1) to the extent expressly required by this Agreement in an Asset Review Report or otherwise, to the other parties to
this Agreement with a notice indicating that such information is Privileged Information or (2) pursuant to a Privileged Information
Exception. Each party to this Agreement that receives Privileged Information from the Asset Representations Reviewer with a notice
stating that such information is Privileged Information

 

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shall not disclose such Privileged Information to any Person without the
prior written consent of the Special Servicer other than pursuant to a Privileged Information Exception.

 

(d)          
The Asset Representations Reviewer may delegate its duties to agents or subcontractors so long as the related agreements
or arrangements with such agents or subcontractors are consistent with the provisions of this Section 12.01; provided
that no agent or subcontractor may (i) be affiliated with any Mortgage Loan Seller, the Master Servicer, the Special Servicer,
the Depositor, the Certificate Administrator, the Trustee, the Directing Certificateholder or any of their respective Affiliates
or (ii) have been paid any fees, compensation or other remuneration by an Underwriter, the Master Servicer, the Special Servicer,
the Depositor, the Certificate Administrator, the Trustee, the Directing Certificateholder or any of their respective Affiliates
in connection with due diligence or other services with respect to any Mortgage Loan prior to the Closing Date. Notwithstanding
the foregoing sentence, the Asset Representations Reviewer shall remain obligated and primarily liable for any Asset Review required
hereunder in accordance with the provisions of this Agreement without diminution of such obligation or liability or related obligation
or liability by virtue of such delegation or arrangements or by virtue of indemnification from any Person acting as its agents
or subcontractor to the same extent and under the same terms and conditions as if the Asset Representations Reviewer alone were
performing its obligations under this Agreement. The Asset Representations Reviewer shall be entitled to enter into an agreement
with any agent or subcontractor providing for indemnification of the Asset Representations Reviewer by such agent or subcontractor,
and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

 

(e)          
The Asset Representations Reviewer may assign its rights and obligations under this Agreement in connection with the sale
or transfer of all or substantially all of its asset representations reviewer portfolio, provided that: (i) the purchaser
or transferee accepting such assignment and delegation (A) is an Eligible Asset Representations Reviewer resulting from a merger,
consolidation or succession that is permitted under this Agreement, (B) assumes in writing each covenant and condition to be performed
or observed by the asset representations reviewer under this Agreement and (C) is not a prohibited party under this Agreement;
(ii) the asset representations reviewer will not be released from its obligations under this Agreement that arose prior to the
effective date of such assignment and delegation; (iii) the rate at which each of the Asset Representations Reviewer Fee and the
Asset Representations Reviewer Asset Review Fee (or any component thereof) is calculated may not exceed the rate then in effect
and (iv) the resigning asset representations reviewer will be required to be responsible for the reasonable costs and expenses
of each other party to this Agreement and the Rating Agencies in connection with such transfer. Upon acceptance of such assignment
and delegation, the purchaser or transferee will be required to provide notice to each party to this Agreement and then will be
the successor asset representations reviewer under this Agreement.

 

Section 12.02     
Payment of Asset Representations Reviewer Fees and Expenses; Limitation of Liability. (a) The Depositor shall pay
the Asset Representations Reviewer a fee of $5,000 (the “Asset Representations Reviewer Upfront Fee”) on the
Closing Date. As compensation for the performance of its routine duties, the Asset Representations Reviewer shall be paid a fee
(the “Asset Representations Reviewer Fee”), payable monthly from amounts received in respect of the Mortgage
Loans and shall be equal to the product of a rate equal to 0.00025% per annum (the “Asset Representations Reviewer
Fee Rate”) and the Stated Principal Balance of the

 

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Mortgage Loans and any REO Loans (including any Non-Serviced Mortgage
Loan, but not any Companion Loan) and shall be calculated in the same manner as interest is calculated on such Mortgage Loans.

 

(b)          
As compensation for the performance of its duties hereunder, with respect to an individual Asset Review Trigger and each
Mortgage Loan that is a Delinquent Loan and is subject to an Asset Review (for purposes of this paragraph, each a “Subject
Loans”), upon the completion of any Asset Review with respect to an individual Asset Review Trigger, the Asset Representations
Reviewer shall be paid a fee equal to (i) $15,000 plus $1,000 per additional Mortgaged Property with respect to a Delinquent
Loan with a Cut-off Date Balance less than $20,000,000, (ii) $20,000 plus $1,000 per additional Mortgaged Property with
respect to a Delinquent Loan with a Cut-off Date Balance greater than or equal to $20,000,000, but less than $40,000,000 or (iii)
$25,000 plus $1,000 per additional Mortgaged Property with respect to a Delinquent Loan with a Cut-off Date Balance greater
than or equal to $40,000,000 (any such fee, the “Asset Representations Reviewer Asset Review Fee”). The Asset
Representations Reviewer Asset Review Fee with respect to each Delinquent Loan shall be paid by the related Mortgage Loan Seller;
provided, however, that if the related Mortgage Loan Seller is insolvent or fails to pay such amount within ninety
(90) days of written request by the Asset Representations Reviewer, such fee shall be paid by the Trust following delivery
by the Asset Representations Reviewer of a certification to the Master Servicer that the requirements for payment set forth in
this Section 12.02(b) have been met. The Asset Representations Reviewer shall not deliver any such certificate unless it
has invoiced payment of such amount and otherwise met the requirements for payment set forth in this Section 12.02(b), including
receipt of evidence of such insolvency or failure to pay such amount. A Mortgage Loan Seller shall be deemed to have failed to
pay such amount hereunder ninety (90) days after delivery by the Asset Representations Reviewer of an itemized invoice to
such Mortgage Loan Seller by registered mail or overnight courier to the address listed in this Agreement for such Mortgage Loan
Seller, or to such other address as shall be provided by such Mortgage Loan Seller for delivery of notices in accordance with this
Agreement, or ninety (90) days following attempted delivery of such invoice by registered mail or overnight courier and
reasonable follow-up by telephone or e-mail. Notwithstanding any payment of such fee by the Trust to the Asset Representations
Reviewer, such fee will remain an obligation of the related Mortgage Loan Seller and the Enforcing Servicer shall pursue remedies
against such Mortgage Loan Seller to recover any such amounts to the extent paid by the Trust.

 

(c)          
Notwithstanding the foregoing, the Asset Representations Reviewer Asset Review Fee with respect to a Delinquent Loan shall
be included in the Purchase Price for any Mortgage Loan that was the subject of a completed Asset Review that is repurchased or
substituted by a Mortgage Loan Seller, and such portion of the Purchase Price received shall be used to reimburse the Asset Representations
Reviewer or the Trust, as the case may be, for such fees pursuant to Section 12.02(b).

 

(d)          
The Asset Representations Reviewer shall be liable in accordance herewith only to the extent of the obligations specifically
imposed by this Agreement.

 

Section 12.03     
Resignation of the Asset Representations Reviewer. The Asset Representations Reviewer may resign and be discharged
from its obligations hereunder by giving written notice thereof to the other parties to this Agreement and each Rating Agency.
Upon such

 

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notice of resignation, the Depositor shall promptly appoint a successor asset representations reviewer that is an Eligible
Asset Representations Reviewer. If no successor asset representations reviewer shall have been so appointed and have accepted appointment
within 30 days after the giving of such notice of resignation, the resigning Asset Representations Reviewer may petition any
court of competent jurisdiction for the appointment of a successor asset representations reviewer that is an Eligible Asset Representations
Reviewer. The Asset Representations Reviewer will bear all reasonable costs and expenses of each party hereto and each Rating Agency
in connection with its resignation.

 

Section 12.04      
Restrictions of the Asset Representations Reviewer. Neither the Asset Representations Reviewer nor any of its Affiliates
shall make any investment in any Class of Certificates; provided, however, that such prohibition shall not apply
to (i) riskless principal transactions effected by a broker dealer Affiliate of the Asset Representations Reviewer or (ii) investments
by an Affiliate of the Asset Representations Reviewer if the Asset Representations Reviewer and such Affiliate maintain policies
and procedures that (A) segregate personnel involved in the activities of the Asset Representations Reviewer under this Agreement
from personnel involved in such Affiliate’s investment activities and (B) prevent such Affiliate and its personnel from
gaining access to information regarding the Trust and the Asset Representations Reviewer and its personnel from gaining access
to such Affiliate’s information regarding its investment activities.

 

Section 12.05     
Termination of the Asset Representations Reviewer.
(a) An “Asset Representations Reviewer Termination Event” means any one of the following events whether it shall
be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body:

 

(i)          
 any failure by the Asset Representations Reviewer to observe or perform in any material respect any of its covenants or
agreements or the material breach of any of its representations or warranties under this Agreement, which failure shall continue
unremedied for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied,
shall have been given to the Asset Representations Reviewer by the Trustee or to the Asset Representations Reviewer and the Trustee
by the Holders of Certificates evidencing greater than 25% of the Voting Rights, provided that any such failure that is
not curable within such thirty (30) day period, the Asset Representations Reviewer shall have an additional cure period of
thirty (30) days to effect such cure so long as it has commenced to cure such failure within the initial thirty (30) day
period and has provided the Trustee and the Certificate Administrator with an officer’s certificate certifying that it has
diligently pursued, and is continuing to pursue, such cure;

 

(ii)          
any failure by the Asset Representations Reviewer to perform its obligations hereunder in accordance with the Asset Review
Standard in any material respect, which failure shall continue unremedied for a period of thirty (30) days after the date
written notice of such failure, requiring the same to be remedied, is given to the Asset Representations Reviewer by any party
to this Agreement;

 

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(iii)         
any failure by the Asset Representations Reviewer to be an Eligible Asset Representations Reviewer, which failure shall
continue unremedied for a period of thirty (30) days after the date written notice of such failure, requiring the same
to be remedied, is given to the Asset Representations Reviewer by any party to this Agreement;

 

(iv)         
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case
under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding-up or liquidation of its affairs, shall have been entered against the Asset Representations Reviewer, and such decree
or order shall have remained in force undischarged or unstayed for a period of sixty (60) days;

 

(v)          
the Asset Representations Reviewer shall consent to the appointment of a conservator or receiver or liquidator or liquidation
committee in any insolvency, readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings
of or relating to the Asset Representations Reviewer or of or relating to all or substantially all of its property; or

 

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

 

Upon receipt by the Certificate
Administrator of written notice of the occurrence of any Asset Representations Reviewer Termination Event, the Certificate Administrator
shall promptly provide written notice to all Certificateholders (which shall be simultaneously delivered to the Asset Representations
Reviewer) in accordance with the notice distribution procedures described in Section 12.01(a), unless the Certificate Administrator
has received written notice that such Asset Representations Reviewer Termination Event has been remedied. If an Asset Representations
Reviewer Termination Event shall occur then, and in each and every such case, so long as such Asset Representations Reviewer Termination
Event shall not have been remedied, either the Trustee (i) may or (ii) upon the written direction of Holders of Certificates
evidencing at least 25% of the Voting Rights (without regard to the application of any Cumulative Appraisal Reduction Amounts),
shall, terminate all of the rights and obligations of the Asset Representations Reviewer under this Agreement, other than rights
and obligations accrued prior to such termination (including the right to receive all amounts accrued and owing to it under this
Agreement) and other than indemnification rights (arising out of events occurring prior to such termination), by notice in writing
to the Asset Representations Reviewer. The Asset Representations Reviewer is required to bear all reasonable costs and expenses
of itself and of each other party to this Agreement in connection with its termination due to an Asset Representations Reviewer
Termination Event. Notwithstanding anything herein to the contrary, the Depositor and each Mortgage Loan Seller shall have the
right, but not the obligation, to notify the Certificate Administrator and the Trustee of any Asset Representations Reviewer Termination
Event of which it becomes aware.

 

(b)          
Upon (i) the written direction of Holders of Certificates evidencing at least 25% of the Voting Rights (without regard
to the application of any Cumulative Appraisal

 

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Reduction Amounts) requesting a vote to terminate and replace the Asset Representations
Reviewer with a proposed successor asset representations reviewer that is an Eligible Asset Representations Reviewer and (ii) payment
by such Holders to the Certificate Administrator of the reasonable fees and expenses to be incurred by the Certificate Administrator
in connection with administering such vote, the Certificate Administrator shall promptly provide written notice thereof to the
Asset Representations Reviewer and to all Certificateholders by (i) posting such notice on its internet website, and (ii) mailing
such notice to all Certificateholders at their addresses appearing in the Certificate Register and to the Asset Representations
Reviewer. Upon the written direction of Holders of Certificates evidencing at least 75% of a Certificateholder Quorum (without
regard to the application of any Cumulative Appraisal Reduction Amounts), the Trustee shall terminate all of the rights and obligations
of the Asset Representations Reviewer under this Agreement (other than any rights or obligations that accrued prior to the date
of such termination and other than indemnification rights arising out of events occurring prior to such termination) by notice
in writing to the Asset Representations Reviewer and appoint the proposed successor. As between the Asset Representations Reviewer,
on the one hand, and the Certificateholders, on the other, the Certificateholders shall be entitled in their sole discretion to
vote for the termination or not vote for the termination of the Asset Representations Reviewer. In the event that Holders of the
Certificates evidencing at least 75% of the Voting Rights (without regard to the application of any Cumulative Appraisal Reduction
Amounts) elect to remove the Asset Representations Reviewer without cause and appoint a successor, the successor asset representations
reviewer will be responsible for all expenses necessary to effect the transfer of responsibilities from its predecessor.

 

(c)          
On or after the receipt by the Asset Representations Reviewer of written notice of termination, subject to this Section
12.05, all of its authority and power under this Agreement shall be terminated and, without limitation, the terminated Asset
Representations Reviewer shall execute any and all documents and other instruments, and do or accomplish all other acts or things
reasonably necessary or appropriate to effect the purposes of such notice of termination. As soon as practicable, but in no event
later than 30 days after (1) the Asset Representations Reviewer resigns pursuant to Section 12.03 of this Agreement
or (2) the Trustee delivers such written notice of termination to the Asset Representations Reviewer, the Trustee shall appoint
a successor asset representations reviewer that is an Eligible Asset Representations Reviewer. The Trustee shall provide written
notice of the appointment of an Asset Representations Reviewer to the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Directing Certificateholder and each Certificateholder within one Business Day of such appointment.

 

The Asset Representations
Reviewer shall at all times be an Eligible Asset Representations Reviewer and if the Asset Representations Reviewer ceases to be
an Eligible Asset Representations Reviewer, the Asset Representations Reviewer shall immediately notify the Master Servicer, the
Special Servicer, the Trustee, the Operating Advisor, the Certificate Administrator and the Directing Certificateholder of such
disqualification and immediately resign under Section 12.03 of this Agreement and the Trustee shall appoint a successor
asset representations reviewer subject to and in accordance with this Section 12.05. Notwithstanding the foregoing, if the
Trustee is unable to find a successor asset representations reviewer within thirty (30) days of the termination of the Asset
Representations Reviewer, the Depositor shall be permitted to find a replacement. The Trustee shall not be liable for any failure
to identify and

 

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appoint a successor asset representations reviewer so long as the Trustee uses commercially reasonable efforts
to conduct a search for a successor asset representations reviewer and such failure is not a result of the Trustee’s negligence,
bad faith or willful misconduct in the performance of its obligations hereunder.

 

(d)          
Upon any termination of the Asset Representations Reviewer and appointment of a successor to the Asset Representations Reviewer,
the Trustee shall, as soon as possible, give written notice thereof to the Special Servicer, the Master Servicer, the Certificate
Administrator (who shall, as soon as possible, give written notice thereof to the Certificateholders), the Operating Advisor, the
Mortgage Loan Sellers, the Depositor, each Rating Agency and, prior to the occurrence and continuance of a Consultation Termination
Event, the Directing Certificateholder. In the event that the Asset Representations Reviewer is terminated, all of its rights and
obligations under this Agreement shall terminate, other than any rights or obligations that accrued prior to the date of such termination
(including the right to receive all amounts accrued and owing to it under this Agreement) and other than indemnification rights
(arising out of events occurring prior to such termination).

 

[End of Article XII]

 

ARTICLE
XIII

MISCELLANEOUS PROVISIONS

 

Section 13.01   
Amendment. (a) This Agreement may be amended from time to time by the parties hereto, without the consent of any
of the Certificateholders or the Companion Holders:

 

(i)           
to correct any defect or ambiguity in this Agreement in order to address any manifest error in any provision of this Agreement;

 

(ii)          
to cause the provisions in this Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates, the Trust
or this Agreement or to correct or supplement any of its provisions which may be defective or inconsistent with any other provisions
therein or to correct any error;

 

(iii)         
to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the P&I Advance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)         
to modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification
of any Trust REMIC as a REMIC under the relevant provisions of the Code at all times that any Certificate is outstanding, or to
avoid

 

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or minimize the risk of imposition of any tax on the Trust or any Trust REMIC; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such
action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such
tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Holder;

 

(v)         
to modify, eliminate or add to the provisions of Section 5.03(o) or Section 5.03(p) or any other provision
hereof restricting transfer of the Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced
by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders (other than the Transferor) to be subject
to a federal tax caused by a Transfer to a Person that is a Disqualified Organization or a Disqualified Non-U.S. Tax Person;

 

(vi)         
to revise or add any other provisions with respect to matters or questions arising under this Agreement or any other change;
provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition, as evidenced in writing by an
Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from
each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced Companion
Loan Securities, if any (provided that such rating agency confirmation may be considered satisfied in the same manner as
any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25);

 

(vii)        
to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to
each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies
and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25); provided that such amendment or supplement shall not adversely affect in
any material respect the interests of any Certificateholder not consenting to such amendment or supplement, as evidenced by an
Opinion of Counsel;

 

(viii)        to modify the provisions of Sections 3.05 and 3.17 (with respect to reimbursement of Nonrecoverable Advances
and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to the Mortgage Loans other than any Excluded
Loan, the Directing Certificateholder, determine that the commercial mortgage-backed securities industry standard for such
provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect the
status of any Trust REMIC as a REMIC under the relevant provisions of the

 

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Code, as evidenced by an Opinion of Counsel and (c) each
Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities, the
applicable rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25);

 

(ix)          to modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant
to Section 3.13(c) and the Certificate Administrator shall post such notice to the Certificate Administrator’s Website;

 

(x)          
to modify, eliminate or add to any of its provisions to such extent as will be necessary to comply with the requirements
for use of Form SF-3 in registered offerings to the extent provided in C.F.R. 239.45(b)(1)(ii), (iii) or (iv); or

 

(xi)         
to modify, eliminate or add to any of its provisions in the event the Risk Retention Rules or any other regulations applicable
to the risk retention requirements for this securitization transaction are amended or repealed, to the extent required to comply
with any such amendment or to modify or eliminate the provision related to the risk retention requirements in the event of such
repeal, upon the consent of the Retaining Sponsor, such consent not to be unreasonably withheld, conditioned or delayed.

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations or
rights of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage
Loan Seller as a third party beneficiary hereunder, without the consent of such Mortgage Loan Seller, or (B) may materially
and adversely affect the holder of a Companion Loan without such Companion Holder’s consent.

 

(b)          
This Agreement may also be amended from time to time by the parties hereto with the consent of the Holders of Certificates
of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests
constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)           
reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Whole Loans that
are required to be distributed on a Certificate of any Class without the consent of the Holder of the Certificate or which are

 

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required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)         
reduce the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment
or remove the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Holders, as applicable; or

 

(iii)        
adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of
such Class then outstanding; or

 

(iv)         
change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations or rights of any Mortgage
Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third
party beneficiary hereunder, without the consent of such Mortgage Loan Seller; or

 

(v)          
amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation
from each Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25) and, if required under the related Intercreditor Agreement, the
consent of the Subordinate Companion Holder(s) for each Serviced AB Whole Loan.

 

(c)          
Notwithstanding the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate
Administrator, the Depositor, the Master Servicer or the Special Servicer shall consent to any amendment hereto without having
first received an Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted hereunder, that
all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer,
the Special Servicer, the Depositor, the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or any other specified person in accordance with such amendment will not result in the imposition of a tax on any portion
of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to qualify as a REMIC under the relevant provisions of the
Code. Furthermore, no amendment to this Agreement may be made that changes any provision specifically required to be included in
this Agreement by any Designated Intercreditor Agreement, without in each case the consent of the holder of the related Companion
Loan(s).

 

(d)          
No later than the effective date of any amendment to this Agreement, the Certificate Administrator shall post a copy of
the same to the Certificate Administrator’s Website, deliver a copy of the same to the 17g-5 Information Provider who
shall post a copy of the same on the 17g-5 Information Provider’s Website pursuant to Section 3.13(b) and Section
3.13(c), as applicable, and thereafter, the Certificate Administrator shall furnish written notification of the

 

    -429-

     

    

 

substance of
such amendment together with a copy of such amendment in electronic format to each Certificateholder and each Serviced Companion
Noteholder, the Depositor, each Other Depositor, the Master Servicer, the Special Servicer, the Underwriters and the Rating Agencies.

 

(e)          
It shall not be necessary for the consent of Certificateholders under this Section 13.01 to approve the particular
form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Certificate Administrator may prescribe.

 

(f)           
The Trustee and the Certificate Administrator shall not be obligated to enter into any amendment pursuant to this Section
13.01 that affects its rights, duties and immunities under this Agreement or otherwise.

 

(g)          
The cost of any Opinion of Counsel to be delivered pursuant to Section 13.01(a) or Section 13.01(c) and the
cost of any amendment entered into hereunder shall be borne by the Person seeking the related amendment, except that if the Master
Servicer, the Certificate Administrator or the Trustee requests any amendment of this Agreement in furtherance of the rights and
interests of Certificateholders, the cost of any Opinion of Counsel required in connection therewith pursuant to Section 13.01(a)
or Section 13.01(c) shall be payable out of the Collection Account.

 

(h)          
The Servicing Standard shall not be amended unless each Rating Agency provides Rating Agency Confirmation and, with respect
to any class of Serviced Companion Loan Securities, the applicable rating agencies provide a confirmation that such action will
not result in the downgrade, withdrawal or qualification of its then-current ratings, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25).

 

(i)           
To the extent the Operating Advisor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer,
the Asset Representations Reviewer or Depositor obtains an Opinion of Counsel as provided for in Section 13.01(c) in connection
with executing any amendment to this Agreement, such party shall be deemed not to have acted negligently in connection with entering
into such amendment for purposes of availing itself of any indemnity provided to such party under this Agreement.

 

(j)           
Notwithstanding any other provision of this Agreement, for purposes of the giving or withholding of consents pursuant to
this Section 13.01, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled
to the same Voting Rights with respect to matters described above as they would if any other Person held such Certificates, so
long as neither the Depositor nor any of its Affiliates is performing servicing duties with respect to any of the Mortgage Loans.

 

(k)          
This Agreement may not be amended without the consent of any holder of a Companion Loan if such amendment would materially
and adversely affect the rights of such Companion Holder hereunder.

 

    -430-

     

    

 

Section 13.02   
Recordation of Agreement; Counterparts. (a) To the extent permitted by applicable law, this Agreement is subject
to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions
in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office
or elsewhere, such recordation to be effected by the Certificate Administrator at the expense of the Depositor on direction by
the Special Servicer and with the consent of the Depositor (which may not be unreasonably withheld), but only upon direction accompanied
by an Opinion of Counsel (the cost of which shall be paid by the Depositor) to the effect that such recordation materially and
beneficially affects the interests of the Certificateholders.

 

(b)          
For the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement
may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and
such counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of
this Agreement in Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed
original counterpart of this Agreement.

 

(c)          
The Trustee shall make any filings required under the laws of the state of its place of business required solely by virtue
of the fact of the location of the Trustee’s place of business, the costs of which, if any, to be at the Trustee’s
expense.

 

Section 13.03   
Limitation on Rights of Certificateholders. (a) The death or incapacity of any Certificateholder shall not operate
to terminate this Agreement or the Trust, nor entitle such Certificateholder’s legal representatives or heirs to claim an
accounting or to take any action or proceeding in any court for a partition or winding up of the Trust, nor otherwise affect the
rights, obligations and liabilities of the parties hereto or any of them.

 

(b)          
No Certificateholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control
the operation and management of the Trust, or the obligations of the parties hereto, nor shall anything herein set forth, or contained
in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members
of an association; nor shall any Certificateholder be under any liability to any third party by reason of any action taken by the
parties to this Agreement pursuant to any provision hereof.

 

(c)          
No Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Agreement, any Intercreditor Agreement, any Mortgage Loan,
or with respect to the Certificates, unless, with respect to any suit, action or proceeding upon or under or with respect to this
Agreement, such Holder previously shall have given to the Trustee and the Certificate Administrator a written notice of default,
and of the continuance thereof, as herein before provided, or of the need to institute such suit, action or proceeding on behalf
of the Trust and unless also the Holders of Certificates of any Class evidencing not less than 50% of the related Percentage Interests
in such Class shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as
Trustee hereunder and shall have offered to the Trustee such indemnity reasonably satisfactory to it as it may require against
the costs, expenses and liabilities

 

    -431-

     

    

 

to be incurred therein or thereby, and the Trustee, for sixty (60) days after its receipt
of such notice, request and offer of such indemnity, shall have neglected or refused to institute any such action, suit or proceeding.
The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it hereunder or to institute, conduct
or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Holders of Certificates
unless such Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities
which may be incurred therein or hereby. It is understood and intended, and expressly covenanted by each Certificateholder with
every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatsoever
by virtue of any provision of this Agreement or the Certificates to affect, disturb or prejudice the rights of the Holders of any
other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder, which priority
or preference is not otherwise provided for herein, or to enforce any right under this Agreement or the Certificates, except in
the manner herein or therein provided and for the equal, ratable and common benefit of all Certificateholders. For the protection
and enforcement of the provisions of this Section 13.03(c), each and every Certificateholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity.

 

Section 13.04   
Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT
OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS
AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES HERETO INTEND THAT THE PROVISIONS
OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

EACH OF THE PARTIES
HERETO IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE FEDERAL COURTS
OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING RELATING TO THIS
AGREEMENT; (II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING
IN ANY SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND
MAY BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW; AND (IV) CONSENTS
TO SERVICE OF PROCESS UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR NOTICES HEREUNDER.

 

THE PARTIES HERETO
HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM, WHETHER
IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

    -432-

     

    

 

Section 13.05   
Notices.    (a) Any communications provided for or permitted hereunder shall be in writing and, unless otherwise expressly
provided herein, shall be deemed to have been duly given when delivered to (or, in the case of facsimile or electronic notices,
when received by):

 

In the case of the Depositor:

Barclays Commercial Mortgage Securities LLC

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

Email: daniel.vinson@barclays.com

 

with a copy to:

Barclays Capital Inc.

745 Seventh Avenue

New York, New York 10019

Attention: Steven P. Glynn, Director, Legal Department

Facsimile: (212) 412-7519

 

In the case of the Master Servicer:

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax Number: (888) 706-3565

 

with a copy to:

Stinson LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106 2150

Fax Number: (816)-412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

In the case of the Special Servicer:

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax Number: (888) 706-3565

 

    -433-

     

    

 

with a copy to:

Stinson LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106 2150

Fax Number: (816)-412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

In the case of the Directing
Certificateholder:

KKR Real Estate Credit Opportunity Partners Aggregator I L.P.

9 West 57th Street, Suite 4200

New York, New York 10019

Facsimile number: (212) 750-0003

Attention: Matt Salem

 

In the case of the Trustee:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services: BBCMS 2019-C3

 

with a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

In the case of the Certificate
Administrator:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – BBCMS 2019-C3

 

with a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

    -434-

     

    

 

In the case of any transfer
or surrender of a Risk Retention Certificate pursuant to Article V:

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Risk Retention Custody (CMBS) – BBCMS 2019-C3

 

with a copy to:

riskretentioncustody@wellsfargo.com

 

In the case of the Custodian:

Wells Fargo Bank, National Association

1055 10th Avenue SE

Minneapolis, Minnesota 55414

Attention: Document Custody Group – BBCMS 2019-C3

 

with a copy to cmbscustody@wellsfargo.com

 

In the case of a surrender,
transfer or exchange of a Certificate other than a Risk Retention Certificate:

 

Wells Fargo Bank, National Association

600 South 4th Street

7th Floor, MAC 9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services – BBCMS Mortgage Trust 2019-C3

 

In the case of the Mortgage Loan
Sellers:

 

		1.	Barclays Capital Real Estate Inc.

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson, Managing Director

Email: daniel.vinson@barclays.com

 

with a copy to:

Barclays Capital Real Estate Inc.

745 Seventh Avenue

New York, New York

Facsimile No.: (212) 412-7519

Attention: Steven P. Glynn, Legal Department

Email: steven.glynn@barclays.com

 

    -435-

     

    

 

		2.	UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York

1285 Avenue of the Americas

New York, New York 10019

Attention: Henry Chung

 

with a copy to:

UBS Business Solutions LLC

1285 Avenue of the Americas

New York, New York 10019

Attention : Chad Eisenberger, Executive Director & Counsel

 

		3.	Societe Generale Financial Corporation

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: Jim Barnard

E-mail: US-Glfi-Abp-Cmbs-Notices@sgcib.com

 

with a copy to:

Societe Generale Financial Corporation

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

E-mail: US-Glfi-Abp-Cmbs-Notices@sgcib.com

 

		4.	KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Joe DeRoy

Facsimile: (877) 379-1625

 

with a copy to:

Polsinelli

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Facsimile: (816) 753-1536

 

		5.	Rialto Mortgage Finance, LLC

600 Madison Avenue, 12th Floor

New York, New York 10022

Attention: Kenneth M. Gorsuch, Managing Director

 

    -436-

     

    

 

		6.	Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile No.: (212) 891-5777

E-mail: USCIBGlobalFinanceAssetMangagementTeam@natixis.com

 

for all legal notices to:

Natixis North America LLC

Office of the General Counsel

1251 Avenue of the Americas

New York, New York 10020

E-mail: CMBSlegal.notices@natixis.com (for all legal notices)

 

In the case of the Operating
Advisor and the Asset Representations Reviewer:

Pentalpha Surveillance LLC

375 N. French Road, Suite 100

Amherst, New York 14228

Attention: BBCMS 2019-C3 Transaction Manager

 

with a copy sent via email to: notices@pentalphasurveillance.com
with BBCMS 2019-C3 in the subject line

 

with a copy to:

Bass, Berry & Sims PLC

150 Third Avenue South

Suite 2800

Nashville, Tennessee 37201

Attention: Jay H. Knight

Email: jknight@bassberry.com

 

In the case of any mezzanine
lender:

The address set forth in the related Intercreditor Agreement.

 

In the case of any Companion
Loan Holder:

The address set forth in the related Intercreditor Agreement.

 

To each such Person, such other address
as may hereafter be furnished by such Person to the parties hereto in writing. Any communication required or permitted to be delivered
to a Certificateholder shall be deemed to have been duly given when mailed first class, postage prepaid, to the address of such
Holder as shown in the Certificate Register. Any notice so mailed within the time

 

    -437-

     

    

 

prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives such notice.

 

(b)          Any party required to deliver any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall
deliver such written notice of the events or information specified in Section 3.13(c) to the Rating Agencies at the address
listed below, promptly following the occurrence thereof. The Master Servicer or the Special Servicer, as the case may be, the Certificate
Administrator, and Trustee also shall furnish such other information regarding the Trust as may be reasonably requested by the
Rating Agencies to the extent such party has or can obtain such information without unreasonable effort or expense; provided,
however, that such other information is first provided to the 17g-5 Information Provider in accordance with the procedures
set forth in Section 3.13(c); provided, further, that the 17g-5 Information Provider shall not disclose which
Rating Agency has requested such information. Notwithstanding the foregoing, the failure to deliver such notices or copies shall
not constitute a Servicer Termination Event, as the case may be, under this Agreement. Any confirmation of the rating by the Rating
Agencies required hereunder shall be in writing.

 

Any notices to the Rating Agencies
shall be sent to the following addresses:

Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: Commercial Mortgage Surveillance Group

Facsimile No.: (212) 635-0295

E-mail: info.cmbs@fitchratings.com

 

Kroll Bond Rating Agency, Inc.

805 Third Avenue, 29th Floor

New York, New York  10022

Attention: CMBS Surveillance

E-mail: cmbssurveillance@kbra.com

 

S&P Global Ratings

55 Water Street, 41st Floor

New York, New York 10041

Attention: Commercial Mortgage Surveillance Manager

E-mail: cmbs_info_17g5@standardandpoors.com

 

Section 13.06   
Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable
from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability
of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof.

 

Section 13.07    
Grant of a Security Interest. The Depositor intends that the conveyance of the Conveyed Property shall constitute
a sale and not a pledge of security for a loan.

 

    -438-

     

    

 

If such conveyance is deemed to be a pledge of security for a loan, however, the
Depositor intends that the rights and obligations of the parties to such loan shall be established pursuant to the terms of this
Agreement. The Depositor also intends and agrees that, in such event, (i) the Depositor shall be deemed to have granted to
the Trustee (in such capacity) a first priority security interest in the Depositor’s entire right, title and interest in,
to and under, whether now owned or existing or hereafter acquired or arising, the Conveyed Property and all proceeds thereof and
(ii) this Agreement shall constitute a security agreement under applicable law. This Section 13.07 shall constitute
notice to the Certificate Administrator and the Trustee pursuant to any of the requirements of the applicable UCC.

 

Section 13.08  
  Successors and Assigns; Third Party Beneficiaries.
(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns
of the parties hereto, and all such provisions shall inure to the benefit of the Certificateholders. Each Mortgage Loan
Seller (and its respective agents), each Companion Holder (and its respective agents), each Underwriter, each depositor of a
Regulation AB Companion Loan Securitization, each Other Exchange Act Reporting Party (with respect to its rights under Article XI
of this Agreement) and each Initial Purchaser is an intended third-party beneficiary to this Agreement in respect of the
respective rights afforded it hereunder. No other person, including, without limitation, any Mortgagor, shall be entitled to
any benefit or equitable right, remedy or claim under this Agreement.

 

(b)           Each Serviced Companion Noteholder shall be a third-party beneficiary to this Agreement in respect to the rights afforded
it hereunder. Each of the Other Servicers and the Other Trustees shall be a third-party beneficiary to this Agreement in respect
to all provisions herein expressly relating to compensation, reimbursement or indemnification of such Other Servicer and Other
Trustee, and any provisions regarding reimbursement or advances or interest thereon to such Other Servicer or Other Trustee.

 

(c)           Each of the applicable Non-Serviced Trustee, Non-Serviced Master Servicer, Non-Serviced Special Servicer, Non-Serviced Depositor,
Non-Serviced Paying Agent and any Non-Serviced Trust holding a related Non-Serviced Companion Loan, shall be a third-party beneficiary
to this Agreement in respect to its rights as specifically provided for herein and under the applicable Non-Serviced Intercreditor
Agreement.

 

(d)           Subject to Section 2.03(k), Section 2.03(l)(iv) and Section 2.03(l)(v), any Requesting Certificateholder
shall be an express third-party beneficiary to this Agreement for purposes of exercising rights under Section 2.03(k) through
Section 2.03(o).

 

Section 13.09   
Article and Section Headings. The article and section headings herein are for convenience of reference
only, and shall not limit or otherwise affect the meaning hereof.

 

Section 13.10   
Notices to the Rating Agencies. (a) The Certificate Administrator shall use reasonable efforts promptly to provide
notice to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.13(c),
(and the related 17g-5 information provider for any class of Serviced Companion Loan Securities to the extent

 

    -439-

     

    

 

applicable to any
Serviced Whole Loan) with respect to each of the following of which it has actual knowledge:

 

(i)            any material change or amendment to this Agreement;

 

(ii)           the occurrence of a Servicer Termination Event that has not been cured;

 

(iii)          the resignation or termination of the Certificate Administrator, the Master Servicer, the Asset Representations Reviewer
or the Special Servicer; and

 

(iv)          the repurchase or substitution of Mortgage Loans by the related Mortgage Loan Seller pursuant to Section 5 of the related
Mortgage Loan Purchase Agreement.

 

(b)           The Master Servicer shall use reasonable efforts to promptly provide notice to the 17g-5 Information Provider for posting
on the 17g-5 Information Provider’s Website pursuant to Section 3.13(c), with respect to each of the following of
which it has actual knowledge:

 

(i)            the resignation or removal of the Trustee or the Certificate Administrator;

 

(ii)           any change in the location of the Collection Account;

 

(iii)          any event that would result in the voluntary or involuntary termination of any insurance of the accounts of the Trustee;

 

(iv)          any change in the lien priority of any Mortgage Loan with respect to an assumption of the Mortgage Loan or additional encumbrance
described in Section 3.08;

 

(v)           any additional lease to an anchor tenant or termination of any existing lease to an anchor tenant at retail properties for
any Mortgage Loan with a Stated Principal Balance that is equal to or greater than the lesser of (1) an amount greater than
5% of the then-aggregate outstanding principal balances of the Mortgage Loans and (2) $35,000,000;

 

(vi)          any material damage to any Mortgaged Property;

 

(vii)         any assumption with respect to a Mortgage Loan; and

 

(viii)        any release or substitution of any Mortgaged Property.

 

(c)           The Certificate Administrator shall promptly furnish notice to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website pursuant to Section 3.13(c), and thereafter to the Rating Agencies of (i) any change in the
location of the Distribution Accounts and (ii) the final payment to any Class of Certificateholders.

 

(d)           The Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer, as applicable, shall furnish to
the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.13(c),
and thereafter to each Rating Agency (and any rating agency for any class of Serviced Companion Loan Securities to the extent applicable
to any Serviced Whole Loan) with respect to each Mortgage Loan (other than any

 

    -440-

     

    

 

Non-Serviced Mortgage Loan) such information as
any Rating Agency shall reasonably request and which the Trustee, the Certificate Administrator, the Master Servicer or Special
Servicer, can reasonably provide in accordance with applicable law and without waiving any attorney-client privilege relating to
such information or violating the terms of this Agreement or any Mortgage Loan documents. The Trustee, the Certificate Administrator,
the Master Servicer and the Special Servicer, as applicable, may include any reasonable disclaimer it deems appropriate with respect
to such information. Notwithstanding anything to the contrary herein, nothing in this Section 13.10 shall require a party
to provide duplicative notices or copies to the Rating Agencies with respect to any of the above listed items. In connection with
the delivery by the Master Servicer or the Special Servicer to the 17g-5 Information Provider of any information, report, notice
or document for posting to the 17g-5 Information Provider’s Website, the 17g-5 Information Provider shall notify the Master
Servicer or the Special Servicer when such information, report, notice or document has been posted. The Master Servicer or the
Special Servicer, as the case may be, may, but shall not be obligated to send such information, report, notice or document to the
applicable Rating Agency so long as such information, report, notice or document (i) was previously provided to the 17g-5
Information Provider or (ii) is simultaneously provided, by 2:00 p.m. (New York City time) on any Business Day, to the
17g-5 Information Provider.

 

Section 13.11   
PNC Bank, National Association. PNC Bank,
National Association, by execution hereof by its division, Midland Loan Services, a Division of PNC Bank, National Association,
acknowledges and agrees that this Agreement is binding upon and enforceable against PNC Bank, National Association to the full
extent of the obligations set forth herein with respect to Midland Loan Services, a Division of PNC Bank, National Association.

 

[End of Article XIII]

 

[SIGNATURES COMMENCE ON FOLLOWING PAGE]

 

    -441-

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized, in each
case as of the day and year first above written.

 

	 	BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC,
	 	 	Depositor
	 	 	 
	 	By:	/s/ Larry Kravetz
	 	 	Name:	Larry Kravetz
	 	 	Title:	President
	 	 	 	 
	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,
	 	 	Master Servicer
	 	 	 
	 	By:	/s/ David D. Spotts
	 	 	Name:	David D. Spotts
	 	 	Title:	Senior Vice President
	 	 	 	 
	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,
	 	 	Special Servicer
	 	 	 
	 	By:	/s/ David D. Spotts
	 	 	Name:	David D. Spotts
	 	 	Title:	Senior Vice President

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 	 	not in its individual capacity, but solely as Certificate Administrator
	 	 	 
	 	By:	/s/ Anna M. Lopez
	 	 	Name:	Anna M. Lopez
	 	 	Title:	Vice President
	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 	 	not in its individual capacity, but solely as Trustee
	 	 	 
	 	By:	/s/ Anna M. Lopez
	 	 	Name:	Anna M. Lopez
	 	 	Title:	Vice President
	 	 	 	 
	 	PENTALPHA SURVEILLANCE LLC,
	 	 	Operating Advisor and Asset Representations Reviewer
	 	 	 	 
	 	By:	/s/ James Callahan
	 	 	Name:	James Callahan
	 	 	Title:	Executive Director and Solely as an Authorized Signatory for Pentalpha Surveillance LLC

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT

 

     

     

    

 

	STATE OF NY	)
	 	)     ss.:
	COUNTY OF NY	)

 

On the 5th day of
June in the year 2019, before me, the undersigned, personally appeared Larry Kravetz, personally
known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to
the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their
signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument,
and that such individual made such appearance before the undersigned in the New York, NY (insert the city or other
political subdivision and the state or county or other place the acknowledgment was taken).

 

	 	/s/
    Mercedes Otero
	 	Signature
    and Office of individual taking 

    acknowledgment
	 	 
	 	MERCEDES OTERO

    NOTARY PUBLIC STATE OF NEW YORK

    No. 01OT6348948

    Qualified in New York County

    My Commission Expires 10-11-2020

 

This instrument prepared by:

 

	Name: 	Larry Kravetz
	Address: 	Cadwalader, Wickersham & Taft LLP

                                                                                200 Liberty Street
 New York, New York 10281

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT

 

     

     

    

 

	STATE OF KANSAS	)
	 	)     ss.:
	COUNTY OF JOHNSON	)

 

On this 29th day
of May 2019, before me, the undersigned, a Notary Public in and for the State of Kansas, duly commissioned and sworn, personally
appeared David D. Spotts known to me to be a Senior Vice President of Midland Loan Services, a Division of PNC Bank, National Association,
and also known to me to be the person who executed it on behalf of such national banking association, and acknowledged to me that
such national banking association executed within the instrument.

 

WITNESS
my hand and seal hereto affixed the day and year fist above written.

 

	 	/s/
    Nick Heinerikson
	NOTARY PUBLIC - State of Kanasas

                                 NICK HEINERIKSON 

                                 My Appt. Expires 4/11/20
	NOTARY PUBLIC in and for the

                                   State of Kanasas

                                    

                                   Nick Heinerikson

 

This
instrument prepared by:

 

	Name: 	Cadwalader, Wickersham & Taft LLP
	Address: 	

                                                                                200 Liberty Street
 New York, New York 10281

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT  NOTARY PAGES

 

     

     

    

 

	STATE OF MARYLAND	)
	 	)     ss.:
	COUNTY OF HOWARD	)

 

On the 29th day
of May in the year 2019, before me, the undersigned, personally appeared Anna M. Lopez, personally known to me or proved to me
on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument,
the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and that such individual
made such appearance before the undersigned.

 

	 	/s/
    Andrew Crews
	 	Signature
    and Office of individual taking 

    acknowledgment
	 	 
	 	ANDREW CREWS
 NOTARY PUBLIC 
 CECIL COUNTY, MD
 MY COMMISSION EXPIRES

                                   OCTOBER 27, 2021

 

This
instrument prepared by:

 

	Name: 	Cadwalader, Wickersham & Taft LLP
	Address: 	

                                                                                200 Liberty Street
 New York, New York 10281

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT

 

     

     

    

 

	STATE OF CONNECTICUT	)
	 	)     ss.:
	COUNTY OF FAIRFIELD	)

 

On the 11th day of
June in the year 2019, before me, the undersigned, personally appeared James Callahan, personally known to me or proved to me
on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged
to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon
behalf of which the individual acted, executed the instrument, and that such individual made such appearance before the undersigned
in Greenwich, Connecticut.

 

	 	/s/
    Melonie S. Williams
	
	NOTARY PUBLIC in and for the

                                   State of Connecticut

	[SEAL]	 
	 	 
	My Commission expires: 7-31-2019	 
	 	 
	MELONIE S. WILLIAMS

                                   Notary Public

                                   Connecticut

                                   My Commission Expires July 31, 2019
	 

 

This
instrument prepared by:

 

	Name: 	Cadwalader, Wickersham & Taft LLP
	Address: 	

                                                                                200 Liberty Street
 New York, New York 10281

 

BBCMS 2019-C3: POOLING AND SERVICING
AGREEMENT  NOTARY PAGES

 

     

     

    

EXHIBIT A-1

FORM OF CERTIFICATE (OTHER THAN CLASS R CERTIFICATES)

 

CLASS [__]

 

BBCMS MORTGAGE TRUST 2019-C3

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES

SERIES 2019-C3, CLASS [__]

 

[FOR PRIVATELY OFFERED CERTIFICATES
(CERTIFICATES OTHER THAN CLASSES A-1, A-2, A-3, A-4, A-SB, X-A, X-B, A-S, B AND C): THIS CERTIFICATE IS A TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY
INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[FOR BOOK-ENTRY CERTIFICATES: UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

     A-1-1

    

    

  

SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSORS, THE MASTER SERVICER, THE SPECIAL SERVICER, THE TRUSTEE,
THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE INITIAL PURCHASERS,
THE MORTGAGE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE
INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

[FOR PRINCIPAL BALANCE CERTIFICATES:
PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY,
THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH
BELOW.]

 

[FOR PRIVATELY OFFERED CERTIFICATES
(CERTIFICATES OTHER THAN CLASSES A-1, A-2, A-3, A-4, A-SB, X-A, X-B, A-S, B AND C): THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”, WITHIN THE MEANING OF RULE 144A
(A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS A NON-“U.S. PERSON”
IN AN “OFFSHORE TRANSACTION” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE
SECURITIES ACT, OR (3) TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT (“REGULATION D”) OR ANY ENTITY IN WHICH ALL OF THE EQUITY
OWNERS ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D (COLLECTIVELY,
“INSTITUTIONAL ACCREDITED INVESTORS”),  AND (B) IN EACH CASE IN ACCORDANCE WITH ANY

 

 

3       Book-Entry
Certificate legend.

 

     A-1-2

    

    

 

APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

[FOR CLASS F-RR, CLASS G-RR, CLASS H-RR
OR CLASS J-RR CERTIFICATES: THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT
IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE
OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN
THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA
OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN (INCLUDING AN ENTITY WHOSE UNDERLYING
ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN THE ENTITY BY SUCH PLAN OR PLANS AND THE APPLICATION OF DEPARTMENT OF LABOR
REGULATION § 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE,
UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH
RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH
RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING
AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.]

 

[FOR CLASS E-RR, CLASS F-RR, CLASS G-RR,
CLASS H-RR AND CLASS J-RR CERTIFICATES: THIS CERTIFICATE IS INTENDED TO CONSTITUTE PART OF AN “ELIGIBLE HORIZONTAL RESIDUAL
INTEREST” (AS DEFINED IN REGULATION RR PROMULGATED UNDER SECTION 15G OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED),
AND AS SUCH IS SUBJECT TO VARIOUS PROHIBITIONS ON HEDGING, TRANSFER AND FINANCING SET FORTH IN REGULATION RR PROMULGATED UNDER
SECTION 15G OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED). THE INITIAL PURCHASER OF THIS CERTIFICATE, AND EACH SUBSEQUENT
PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN
TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT.

 

THIS CERTIFICATE REPRESENTS A “REGULAR
INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,

 

     A-1-3

    

    

 

RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[FOR PRINCIPAL BALANCE CERTIFICATES:
THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL
COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE
BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT
CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR.] 

 

[FOR CLASS X CERTIFICATES: THIS [CLASS
X-A][CLASS X-B][CLASS X-D] CERTIFICATE HAS NO PRINCIPAL BALANCE AND WILL NOT RECEIVE ANY DISTRIBUTIONS OF PRINCIPAL.]

 

[FOR CLASS X-A CERTIFICATES: THE NOTIONAL
AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4 AND CLASS A-SB CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[FOR CLASS X-B CERTIFICATES: THE NOTIONAL
AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE AGGREGATE CERTIFICATE BALANCE OF THE CLASS A-S,
CLASS B AND CLASS C CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL
NOTIONAL AMOUNT SET FORTH BELOW.]

 

[FOR CLASS X-D CERTIFICATES: THE NOTIONAL
AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS D CERTIFICATES.
ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[FOR CLASS X CERTIFICATES: THE NOTIONAL
AMOUNT ON WHICH THE INTEREST PAYABLE TO THE HOLDERS OF THE CLASS [X-A][X-B][X-D] CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT
OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE LOANS. ACCORDINGLY, THE

 

     A-1-4

    

    

 

INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS
THAN THAT SET FORTH BELOW.]

 

[FOR SUBORDINATE CERTIFICATES (CLASS
A-S, CLASS B, CLASS C, CLASS D, CLASS E-RR, CLASS F-RR, CLASS G-RR, CLASS H-RR AND CLASS J-RR): THIS CERTIFICATE IS SUBORDINATE
TO ONE OR MORE CLASSES OF CERTIFICATES OF THE SAME SERIES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN.]

 

     A-1-5

    

    

 

	
        PASS-THROUGH RATE: [FOR FIXED CLASSES: [____]%
per annum] [FOR WAC, WAC CAP AND CLASS X CERTIFICATES: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT]

         

        INITIAL [CERTIFICATE BALANCE][NOTIONAL AMOUNT] OF THIS CERTIFICATE
        AS OF THE CLOSING DATE: $[         ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2019

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT
        (AS DEFINED HEREIN)

         

        CLOSING DATE: JUNE 11, 2019

         

        FIRST DISTRIBUTION DATE:

        JULY 17, 2019

         

        APPROXIMATE AGGREGATE [CERTIFICATE BALANCE][NOTIONAL AMOUNT]
        OF THE CLASS [__] CERTIFICATES AS OF THE CLOSING DATE:

        $[_________]

         
	
        MASTER SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK,
        NATIONAL ASSOCIATION

         

        SPECIAL SERVICER:

        MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING ADVISOR:

        PENTALPHA SURVEILLANCE LLC

         

        ASSET REPRESENTATIONS REVIEWER: PENTALPHA SURVEILLANCE LLC

         

        CUSIP NO.: [       ]

         

        ISIN NO.: [       ]

         

        CERTIFICATE NO.: [_] - ______

         

 

     A-1-6

    

    

 

CLASS [__] CERTIFICATE

 

evidencing a beneficial ownership interest
in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”), all payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties and revenues received in respect
thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral
as security for the Mortgage Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution
Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

BARCLAYS COMMERCIAL MORTGAGE SECURITIES
LLC

 

THIS CERTIFIES THAT [FOR
BOOK-ENTRY CERTIFICATES: CEDE & CO.] [FOR DEFINITIVE CERTIFICATES: [______]] is the registered owner of the interest evidenced
by this Certificate in the Class [__] Certificates issued by the Trust created pursuant to the Pooling and Servicing Agreement,
dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between Barclays Commercial Mortgage Securities
LLC (hereinafter called the “Depositor”, which term includes any successor entity under the Pooling and Servicing
Agreement), the Trustee, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the
Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set
forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in
the Pooling and Servicing Agreement.

 

This Certificate is one
of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof (herein called
the “Certificates”) and representing an interest in the Class of Certificates specified on the face hereof equal
to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified on the face hereof,
by the aggregate initial [Certificate Balance][Notional Amount] of the Class [__] Certificates. The Certificates are designated
as the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 and are issued in the classes
as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial
ownership of the Trust Fund.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect
to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of
the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions
of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder
by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms
specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing
Agreement shall govern.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D

 

     A-1-7

    

    

 

of
the Internal Revenue Code of 1986, as amended (the “Code”). Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate
is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest
represented by this Certificate) of that portion of the aggregate amount of [FOR PRINCIPAL BALANCE CERTIFICATES (CLASS A-1, A-2,
A-3, A-4, A-SB, A-S, B, C, D, E-RR, F-RR, G-RR, H-RR AND J-RR): principal and] interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. [FOR CLASS A-1, A-2, A-3, A-4, A-SB, X-A, X-B, A-S, B, C and D CERTIFICATES: Holders of this Certificate
may be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.] All sums
distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of payment
is legal tender for the payment of public and private debts.

 

Interest on this Certificate
will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period
relating to such Distribution Date at the Class [__] Pass-Through Rate specified above on the [Certificate Balance][Notional Amount]
of this Certificate immediately prior to each Distribution Date. [FOR CLASS X CERTIFICATES: Interest][FOR PRINCIPAL BALANCE CERTIFICATES
(CLASS A-1, A-2, A-3, A-4, A-SB, A-S, B, C, D, E-RR, F-RR, G-RR, H-RR AND J-RR): Principal and interest] allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized Losses and certain
other amounts on the Mortgage Loans shall be allocated on the applicable Distribution Date to Certificateholders in the manner
set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans allocated to any Class of Certificates
will be allocated pro rata among the outstanding Certificates of such Class.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically
set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and
the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the
Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator
(with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts
may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be
paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including

 

     A-1-8

    

    

 

reimbursement
of certain expenses incurred with respect to the servicing of the Mortgage Loans and administration of the Trust Fund.

 

All distributions under
the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution
on any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor
in the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire
instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds
to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution
on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously allocated to
this Certificate) shall be made in like manner, but only upon presentation and surrender of this Certificate at the offices of
the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed
to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts
of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate, subject to applicable law with respect to escheatment of funds. The costs and expenses
of holding such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such
second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to
any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as
a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance with
Section 4.01(h) of the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable
in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office of the Certificate
Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other
written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s
attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations
will be issued to the designated transferee or transferees.

 

Subject to the terms
of the Pooling and Servicing Agreement, the Class [__] Certificates will be issued in minimum denominations of $[FOR CLASS A-1,
A-2, A-3, A-4, A-SB, A-S, B AND C: 10,000 initial Certificate Balance][FOR CLASS D, E-RR, F-RR, G-RR,

 

     A-1-9

    

    

 

H-RR,
AND J-RR CERTIFICATES: 100,000 initial Certificate Balance][FOR CLASS X-A, X-B AND X-D CERTIFICATES: 1,000,000 initial Notional
Amount], and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing an additional amount
equal to the remainder of the initial [Certificate Balance][Notional Amount] of such Class.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate
(other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any
transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of
the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or
transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate
Registrar in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient
to cover any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate
Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent of any of them, may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Trustee, the Certificate
Administrator, the Master Servicer, the Special Servicer, the Certificate Registrar, or any agent of any of them, shall be affected
by any notice to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the
Companion Holders:

 

(i)          
to correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any
provision of the Pooling and Servicing Agreement;

 

(ii)          to cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the
statements made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be defective or inconsistent
with any other provisions therein or to correct any error;

 

(iii)         to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account;
provided that (a) the P&I Advance Date shall in no event be later than the Business Day prior to the related Distribution Date
and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced in
writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       
to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary
to maintain the qualification of any Trust REMIC as a REMIC under the relevant provisions of the Code at all times that any

 

     A-1-10

    

    

 

Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or, any Trust REMIC; provided that the
Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment)
to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of
the imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any Certificateholder
or Companion Holder;

 

(v)         
to modify, eliminate or add to the provisions of Section 5.03(o) or Section 5.03(p) of the Pooling and Servicing Agreement
or any other provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor
has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the
Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified
Organization or a Disqualified Non-U.S. Tax Person;

 

(vi)         to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced in writing by an
Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from
each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced Companion
Loan Securities, if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating
Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing
Agreement);

 

(vii)      
to amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     
to modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement
of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and,
for so long as a Control Termination Event has not occurred and is not

 

     A-1-11

    

    

 

continuing
and with respect to the Mortgage Loans other than any Excluded DCH Loan, the Directing Certificateholder, determine that the commercial
mortgage-backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b)
such modification does not adversely affect the status of any Trust REMIC as a REMIC under the relevant provisions of the Code,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to
any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)        
to modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment to
the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section 3.13(c) of the
Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website;

 

(x)         
to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as will be necessary
to comply with the requirements for use of Form SF-3 in registered offerings to the extent provided in C.F.R. 239.45(b)(1)(ii),
(iii) or (iv); or

 

(xi)          to
modify, eliminate or add to any of its provisions in the event the Risk Retention Rules or any other regulations applicable to
the risk retention requirements for this securitization transaction are amended or repealed, to the extent required to comply
with any such amendment or to modify or eliminate the provision related to the risk retention requirements in the event of such
repeal, upon the consent of the Retaining Sponsor, such consent not to be unreasonably withheld, conditioned or delayed.

 

Notwithstanding the foregoing,
no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations
or rights of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage
Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller
or (B) may materially and adversely affect the holder of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each
Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage

 

     A-1-12

    

    

 

Interests
constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class;
provided, however, that no such amendment shall:

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Whole Loans that are required
to be distributed on a Certificate of any Class without the consent of the Holder of the Certificate or which are required to
be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment
or remove the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Holders, as applicable; or

 

(iii)         adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations or rights of any Mortgage
Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third
party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)        
amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation
from each Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Intercreditor Agreement, the consent of the Subordinate Companion Holder(s) for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing,
none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the
Master Servicer or the Special Servicer shall consent to any amendment to the Pooling and Servicing Agreement without having first
received an Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling
and Servicing Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power
granted to the Master Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator, the Operating
Advisor, the Asset Representations Reviewer or any other specified person in accordance with such amendment will not result in
the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to qualify as a

 

     A-1-13

    

    

 

REMIC
under the relevant provisions of the Code. Furthermore, no amendment to the Pooling and Servicing Agreement may be made that changes
any provision specifically required to be included in the Pooling and Servicing Agreement by any Designated Intercreditor Agreement,
without in each case the consent of the holder of the related Companion Loan(s).

 

The Holders of the majority
of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates, in that order of
priority, may, at their option, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies
in respect of any related Mortgage Loan) and the Trust’s portion of each REO Property remaining in the Trust Fund as contemplated
by clause (ii) of the first paragraph of Section 9.01 in the Pooling and Servicing Agreement by giving written notice to the Trustee,
the Certificate Administrator and the other parties to the Pooling and Servicing Agreement no later than sixty (60) days prior
to the anticipated date of purchase; provided, however, that the Holders of the Controlling Class, the Special Servicer,
the Master Servicer, or the Holders of the Class R Certificates may so elect to purchase all of the Mortgage Loans and the Trust’s
portion of each REO Property remaining in the Trust Fund only on or after the first Distribution Date on which the aggregate Stated
Principal Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate
Cut-off Date Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on
which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates are no longer
outstanding (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding
Certificates (other than the Class R Certificates)), the Sole Certificateholder shall have the right, with the consent of the Master
Servicer, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans and each REO
Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created
by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator
to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction
of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from
a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event,
however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James’s,
living on the date hereof.

 

Unless the certificate
of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this
Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation
or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates or the Mortgage Loans.

 

     A-1-14

    

    

 

THIS CERTIFICATE AND
THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

     A-1-15

    

    

 

IN WITNESS WHEREOF,
the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY
	 	 	 

 

Dated: June 11, 2019

 

CERTIFICATE OF AUTHENTICATION

THIS IS ONE OF THE CLASS [__] CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	AUTHORIZED SIGNATORY
	 	 	 

 

     A-1-16

    

    

 

ABBREVIATIONS

 

The following abbreviations, when used
in the inscription on the face of this Certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF GIFT MIN ACT __________ Custodian
	TEN ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of	Under Uniform Gifts to Minors Act __________________________
	 	 	survivorship and not as tenants in	(State)
	 	 	common	
	 	 		

 

Additional abbreviations may also be used
though not in the above list.

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The signature must be guaranteed by a commercial
bank or trust company or by a member firm of the New York Stock Exchange or another national securities exchange. Notarized or
witnessed signatures are not acceptable.

 

     A-1-17

    

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

     A-1-18

    

    

 

EXHIBIT
A-2

FORM OF CLASS R CERTIFICATE

 

CLASS
R

 

BBCMS
MORTGAGE TRUST 2019-C3

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES

SERIES 2019-C3, CLASS R

 

THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT C
TO THE POOLING AND SERVICING AGREEMENT.

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSORS, THE MASTER SERVICER,
THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE
UNDERWRITERS, THE INITIAL PURCHASERS, THE MORTGAGE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE
NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

    A-2-1

     

    

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF ANY
SUCH PLAN (INCLUDING AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN THE ENTITY BY SUCH PLAN
OR PLANS AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION § 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OR USING
THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE.

 

THIS
CERTIFICATE REPRESENTS THE “RESIDUAL INTERESTS” IN TWO “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE CODE. EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS,
DISQUALIFIED NON-U.S. TAX PERSONS OR AGENTS OF EITHER, AS SET FORTH IN SECTION 5.03 OF THE POOLING AND SERVICING AGREEMENT, AND
SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR, THE CERTIFICATE ADMINISTRATOR AND THE TRUSTEE TO THE EFFECT THAT,
AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN
AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE,
(B) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C)
IT UNDERSTANDS THAT IT MAY INCUR TAX LIABILITIES WITH RESPECT TO THIS CERTIFICATE IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D)
IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY BECOME DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT
TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE
INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S. PERSON AND (F) IT WILL NOT TRANSFER THIS CERTIFICATE TO ANY PERSON OR ENTITY
THAT DOES NOT PROVIDE A SIMILAR AFFIDAVIT. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A
PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS
IN ANY PURPORTED TRANSFEREE. THIS CERTIFICATE REPRESENTS ONE OR MORE “NON-ECONOMIC RESIDUAL INTERESTS”, AS DEFINED
IN TREASURY REGULATIONS SECTION 1.860E-1(c),

 

    A-2-2

     

    

 

AND THEREFORE, TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME
TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR
MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO
TRANSFER AT A MINIMUM PRICE OR TO AN ELIGIBLE TRANSFEREE AS SPECIFIED IN TREASURY REGULATIONS.

 

    A-2-3

     

    

 

	PERCENTAGE
                                         INTEREST EVIDENCED BY THIS CERTIFICATE: [100%]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF JUNE 1, 2019

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: JUNE 11, 2019

         

        FIRST
        DISTRIBUTION DATE:

        JULY 17, 2019

         
	MASTER
SERVICER:

MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL
ASSOCIATION

         

        SPECIAL
        SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        TRUSTEE:
        WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR:

        WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        ADVISOR:

        PENTALPHA SURVEILLANCE LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PENTALPHA SURVEILLANCE LLC

         

        CUSIP
        NO.: [           ]

         

        ISIN
        NO.: [           ]

         

        CERTIFICATE
        NO.: R-____

        

 

    A-2-4

     

    

 

CLASS
R CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties
and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any Assignment of Leases,
and any guaranties or other collateral as security for the Mortgage Loans and such amounts as shall from time to time be held
in the Collection Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the Excess
Interest Distribution Account and the REO Accounts, formed and sold by

 

BARCLAYS
COMMERCIAL MORTGAGE SECURITIES LLC

 

THIS
CERTIFIES THAT [____________________] is the registered owner of the interest evidenced by this Certificate in the Class R Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and
Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the Special
Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations Reviewer. A summary of certain of
the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the
capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the face
hereof equal to the percentage interest specified on the face hereof. The Certificates are designated as the BBCMS Mortgage Trust
2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 and are issued in the classes as specifically set forth
in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the
Trust Fund.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Class R Certificate represents the “residual interests” in two “real estate mortgage investment conduits”,
as those terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended (the
“Code”). Each Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent
with the

 

    A-2-5

     

    

 

treatment of, this Certificate in accordance with the preceding sentence for purposes of federal income taxes, state
and local income and franchise taxes and other taxes imposed on or measured by income. The Certificate Administrator is hereby
designated as the “partnership representative” (within the meaning of Section 6223 of the Code) of each Trust REMIC.
Each holder of this Certificate, by acceptance hereof, consents to the Certificate Administrator making any elections allowed
under the Code (a) to avoid the application of Section 6221 (or successor provision) to the Trust REMICs and (b) to avoid payment
by the Trust REMICs under Section 6225 of any tax, penalty, interest or other amount imposed under the Code that would otherwise
be imposed on a Holder of this Certificate. Each Holder of this Certificate, by acceptance hereof, agrees to any such elections
and to reasonably cooperate with the Certificate Administrator in connection with any such elections the Certificate Administrator
determines in its discretion are necessary or advisable.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, distributions, if any, on this Certificate shall be made by the Certificate
Administrator in an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
thereof and to the extent and subject to the limitations set forth in the Pooling and Servicing Agreement, on the Distribution
Date to the Person in whose name this Certificate is registered as of the related Record Date. All sums distributable on this
Certificate are payable in the coin or currency of the United States of America as at the time of payment is legal tender for
the payment of public and private debts.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and administration of the Trust Fund.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only

 

    A-2-6

     

    

 

upon presentation and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate, subject to applicable law with respect to escheatment
of funds. The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first
anniversary of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No
interest shall accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement
by the Certificate Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final
payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Each
Person who has or who acquires any Ownership Interest in a Class R Certificate shall be deemed by the acceptance or acquisition
of such Ownership Interest to have agreed to be bound by the following provisions. The rights of each Person acquiring any Ownership
Interest in a Class R Certificate are expressly subject to the following provisions: (A) no Person holding or acquiring any Ownership
Interest in a Class R Certificate shall be a Disqualified Organization or agent thereof (including a nominee, middleman or similar
person) (an “Agent”), a Plan or a Person acting on behalf of or using the assets of a Plan (such Plan or Person,
an “ERISA Prohibited Holder”) or a Disqualified Non-U.S. Tax Person and shall promptly notify the Certificate
Registrar of any change or impending change to such status; (B) in connection with any proposed Transfer of any Ownership Interest
in a Class R Certificate, the Certificate Registrar shall require delivery to it, and no Transfer of any Class R Certificate shall
be registered until the Certificate Registrar receives, an affidavit substantially in the form attached to the Pooling and Servicing
Agreement as Exhibit D-1 (a “Transferee Affidavit”) from the proposed Transferee, in form and substance satisfactory
to the Certificate Registrar, representing and warranting, among other things, that such Transferee is not a Disqualified

 

    A-2-7

     

    

 

Organization
or Agent thereof, an ERISA Prohibited Holder or a Disqualified Non-U.S. Tax Person, and that it has reviewed the provisions of
Section 5.03(p) of the Pooling and Servicing Agreement and agrees to be bound by them; (C) notwithstanding the delivery of a Transferee
Affidavit by a proposed Transferee under clause (B) above, if the Certificate Registrar has actual knowledge that the proposed
Transferee is a Disqualified Organization or Agent thereof, an ERISA Prohibited Holder or a Disqualified Non-U.S. Tax Person,
no Transfer of an Ownership Interest in a Class R Certificate to such proposed Transferee shall be effected; and (D) each Person
holding or acquiring any Ownership Interest in a Class R Certificate shall agree (1) to require a Transferee Affidavit from any
prospective Transferee to whom such Person attempts to transfer its Ownership Interest in such Class R Certificate and (2) not
to transfer its Ownership Interest in such Class R Certificate unless it provides to the Certificate Registrar a letter substantially
in the form attached to the Pooling and Servicing Agreement as Exhibit D-2 (a “Transferor Letter”) certifying that,
among other things, it has no actual knowledge or reason to know that the proposed Transferee’s statements in such Transferee
Affidavit are false.

 

The
Class R Certificates will be issued in fully registered, certificated form, in minimum percentage interests of 10% and integral
multiples of 1% in excess thereof.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Certificate Registrar, and any agent
of any of them, may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none
of the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Certificate Registrar, or any agent
of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)               to correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)              to cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or

 

    A-2-8

     

    

 

supplement any of its provisions which may be defective or inconsistent
with any other provisions therein or to correct any error;

 

(iii)             to change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the P&I Advance Date shall in no event be later than the Business Day prior to the related Distribution Date and
(b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced in writing
by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)             to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust, any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel
(at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain
such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely affect
in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)              to modify, eliminate or add to the provisions of Section 5.03(o) or Section 5.03(p) of the Pooling and Servicing Agreement or
any other provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor
has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the
Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified
Organization or a Disqualified Non-U.S. Tax Person;

 

(vi)             to revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or
any other change; provided that the required action shall not adversely affect in any material respect the interests of any Certificateholder
or any holder of a Serviced Companion Loan not consenting to such revision or addition as evidenced in writing by an Opinion of
Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of the
Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings of any Serviced Companion Loan Securities,
if any (provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation
may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)            to amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency

 

    A-2-9

     

    

 

Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or
supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment
or supplement, as evidenced by an Opinion of Counsel;

 

(viii)           to modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to the Mortgage Loans other than any Excluded
DCH Loan, the Directing Certificateholder, determine that the commercial mortgage-backed securities industry standard for such
provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status
of any Trust REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code,
as evidenced by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to
any class of Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)              to modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such amendment to
the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section 3.13(c) of the
Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website;

 

(x)               to modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as will be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in C.F.R. 239.45(b)(1)(ii), (iii) or
(iv); or

 

(xi)              to modify, eliminate or add to any of its provisions in the event the Risk Retention Rules or any other regulations applicable
to the risk retention requirements for this securitization transaction are amended or repealed, to the extent required to comply

 

    A-2-10

     

    

 

with any such amendment or to modify or eliminate the provision related to the risk retention requirements in the event of such
repeal, upon the consent of the Retaining Sponsor, such consent not to be unreasonably withheld, conditioned or delayed.

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in any Mortgage Loan Purchase Agreement or
the obligations or rights of any Mortgage Loan Seller under any Mortgage Loan Purchase Agreement or otherwise or change any rights
of any Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of such
Mortgage Loan Seller or (B) may materially and adversely affect the holder of a Companion Loan without such Companion Holder’s
consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)         reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Whole Loans that are required
to be distributed on a Certificate of any Class without the consent of the Holder of the Certificate or which are required to
be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment
or remove the requirement to obtain consent of any Companion Holder, in any such case without the consent of the Holders of all
Certificates of such Class then-outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such
Class then outstanding; or

 

(iv)       change in any manner any defined term used in any Mortgage Loan Purchase Agreement or the obligations or rights of any Mortgage
Loan Seller under such Mortgage Loan Purchase Agreement or otherwise or change any rights of any Mortgage Loan Seller as a third
party beneficiary under the Pooling and Servicing Agreement, without the consent of such Mortgage Loan Seller; or

 

(v)        amend the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from
each Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any Serviced Companion Loan Securities, if any (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be

 

    A-2-11

     

    

 

considered satisfied with
respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Intercreditor Agreement, the consent of the Subordinate Companion Holder(s) for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer or the Special Servicer shall consent to any amendment to the Pooling and Servicing Agreement
without having first received an Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted
under the Pooling and Servicing Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise
of any power granted to the Master Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such amendment will
not result in the imposition of a tax on any portion of the Trust Fund or any Trust REMIC, or cause any Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code.
Furthermore, no amendment to the Pooling and Servicing Agreement may be made that changes any provision specifically required
to be included in the Pooling and Servicing Agreement by any Designated Intercreditor Agreement, without in each case the consent
of the holder of the related Companion Loan(s).

 

The
Holders of the majority of the Controlling Class, the Special Servicer, the Master Servicer or the Holders of the Class R Certificates,
in that order of priority, may, at their option, elect to purchase all of the Mortgage Loans (and all property acquired through
exercise of remedies in respect of any related Mortgage Loan) and the Trust’s portion of each REO Property remaining in
the Trust Fund as contemplated by clause (ii) of the first paragraph of Section 9.01 in the Pooling and Servicing Agreement by
giving written notice to the Trustee, the Certificate Administrator and the other parties to the Pooling and Servicing Agreement
no later than sixty (60) days prior to the anticipated date of purchase; provided, however, that the Holders of
the Controlling Class, the Special Servicer, the Master Servicer, or the Holders of the Class R Certificates may so elect to purchase
all of the Mortgage Loans and the Trust’s portion of each REO Property remaining in the Trust Fund only on or after the
first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion of any REO Loans
held by the Trust is less than 1.0% of the aggregate Cut-off Date Balance of the Mortgage Loans as set forth in the Pooling and
Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-S, Class B, Class C and Class D Certificates
are no longer outstanding (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the
then-outstanding Certificates (other than the Class R Certificates)), the Sole Certificateholder shall have the right, with the
consent of the Master Servicer, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage
Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon

 

    A-2-12

     

    

 

reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James’s, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-2-13

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity
    but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

Dated:
June 11, 2019

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS R CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-2-14

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF GIFT MIN ACT __________ Custodian
	TEN ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of	Under Uniform Gifts to Minors Act __________________________
	 	 	survivorship and not as tenants in	(State)
	 	 	common	
	 	 		

 

Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

  

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

  

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-2-15

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to ________________________________________ for the
account of __________________________________ account number ___________________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-2-16

     

    

EXHIBIT
B 

 

MORTGAGE
LOAN SCHEDULE

 

    B-1

     

    

 

	BBCMS Mortgage Trust 2019-C3
	MORTGAGE LOAN SCHEDULE

 

	Sequence #	Seller	Property Name	Property Address	City	State	Zip Code	County	Property Type	Total SF/Units
	1	KeyBank	SSTII Self Storage Portfolio II	Various	Various	Various	Various	Various	Self Storage	6,903
	1.01	KeyBank	Nantucket	6 Sun Island Road	Nantucket	MA	02554	Nantucket	Self Storage	842
	1.02	KeyBank	Plantation	10325 West Broward Boulevard	Plantation	FL	33324	Broward	Self Storage	903
	1.03	KeyBank	Pollock	9890 Pollock Drive	Las Vegas	NV	89183	Clark	Self Storage	767
	1.04	KeyBank	Silverado Ranch	590 East Silverado Ranch Boulevard	Las Vegas	NV	89183	Clark	Self Storage	726
	1.05	KeyBank	Myrtle Beach - Jesse 	338 Jesse Street	Myrtle Beach	SC	29579	Horry	Self Storage	743
	1.06	KeyBank	Port St. Lucie	501 Northwest Business Center Drive	Port St. Lucie	FL	34986	Saint Lucie	Self Storage	610
	1.07	KeyBank	Myrtle Beach - Dick Pond	4630 Dick Pond Road	Myrtle Beach	SC	29588	Horry	Self Storage	598
	1.08	KeyBank	Sahara	6318 West Sahara Avenue	Las Vegas	NV	89146	Clark	Self Storage	617
	1.09	KeyBank	Fort Pierce	3252 North US Highway 1	Fort Pierce	FL	34946	Saint Lucie	Self Storage	758
	1.10	KeyBank	Sonoma	19240 Highway 12	Sonoma	CA	95476	Sonoma	Self Storage	339
	2	Natixis	Vanguard Portfolio	Various	Malvern	PA	19355	Chester	Office	568,658
	2.01	Natixis	425 Old Morehall Road	425 Old Morehall Road	Malvern	PA	19355	Chester	Office	201,658
	2.02	Natixis	1001 Cedar Hollow Road	1001 Cedar Hollow Road	Malvern	PA	19355	Chester	Office	133,000
	2.03	Natixis	50 Morehall Road	50 Morehall Road	Malvern	PA	19355	Chester	Office	117,000
	2.04	Natixis	60 Morehall Road	60 Morehall Road	Malvern	PA	19355	Chester	Office	117,000
	3	SGFC	GNL Industrial Portfolio	Various	Various	Various	Various	Various	Industrial	2,443,208
	3.01	SGFC	FedEx Ground Package Systems - San Antonio	6808 Ascot Park Drive	San Antonio	TX	78238	Bexar	Industrial	168,576
	3.02	SGFC	Rubbermaid - Akron	3009 Gilchrist Road	Akron	OH	44305	Summit	Industrial	668,592
	3.03	SGFC	Bush Industries - Jamestown	1885 Mason Drive	Jamestown	NY	14701	Chautauqua	Industrial	456,094
	3.04	SGFC	Chemours - Pass Christian	7990 Kiln Delisle Road	Pass Christian	MS	39571	Harrison	Industrial	300,000
	3.05	SGFC	Wolverine - Howard City	214 Washburn Street	Howard City	MI	49329	Montcalm	Industrial	468,635
	3.06	SGFC	FedEx Freight - Greenville	1200 Industrial Boulevard	Greenville	NC	27834	Pitt	Industrial	29,051
	3.07	SGFC	Diebold - North Canton	5571 Global Gateway	North Canton	OH	44720	Summit	Industrial	158,330
	3.08	SGFC	FedEx Freight - Blackfoot	76 West 450 North	Blackfoot	ID	83221	Bingham	Industrial	21,574
	3.09	SGFC	Mapes & Sprowl Steel - Elk Grove Village	1100 East Devon Avenue	Elk Grove Village	IL	60007	Cook	Industrial	60,798
	3.10	SGFC	XPO Logistics - Grand Rapids	5350 Kraft Avenue Southeast	Grand Rapids	MI	49512	Kent	Industrial	28,070
	3.11	SGFC	XPO Logistics - Aurora	1618 Anderson Drive	Aurora	NE	68818	Hamilton	Industrial	15,700
	3.12	SGFC	XPO Logistics - Salina	358 East Berg Road	Salina	KS	67401	Saline	Industrial	15,029
	3.13	SGFC	XPO Logistics - Riverton	7220 CCX Road	Riverton	IL	62561	Sangamon	Industrial	14,881
	3.14	SGFC	XPO Logistics - Waite Park	301 33rd Avenue South	Waite Park	MN	56387	Stearns	Industrial	14,160
	3.15	SGFC	XPO Logistics - Uhrichsville	2401 North Water Street	Uhrichsville	OH	44683	Tuscarawas	Industrial	15,068
	3.16	SGFC	XPO Logistics - Vincennes	3635 Keller Road	Vincennes	IN	47591	Knox	Industrial	8,650
	4	SGFC	SWVP Portfolio	Various	Various	Various	Various	Various	Hotel	1,192
	4.01	SGFC	InterContinental	444 Saint Charles Avenue	New Orleans	LA	70130	Orleans Parish	Hotel	484
	4.02	SGFC	DoubleTree Sunrise	13400 West Sunrise Boulevard	Sunrise	FL	33323	Broward	Hotel	252
	4.03	SGFC	DoubleTree Charlotte	6300 Morrison Boulevard	Charlotte	NC	28211	Mecklenburg	Hotel	207
	4.04	SGFC	DoubleTree RTP	4810 Page Creek Lane	Durham	NC	27703	Durham	Hotel	249
	5	Barclays	Renaissance Fort Lauderdale	1617 Southeast 17th Street	Fort Lauderdale	FL	33316	Broward	Hotel	236
	6	Barclays	ATRIA Corporate Center	3033 Campus Drive	Plymouth	MN	55441	Hennepin	Office	360,047
	7	Barclays	Inland Devon Self Storage Portfolio	Various	Various	Various	Various	Various	Self Storage	10,824
	7.01	Barclays	67650 East Ramon Road	67650 East Ramon Road	Cathedral City	CA	92234	Riverside	Self Storage	767
	7.02	Barclays	2700 Poplar Avenue	2700 Poplar Avenue	Memphis	TN	38112	Shelby	Self Storage	651
	7.03	Barclays	1400 South Gene Autry Trail	1400 South Gene Autry Trail	Palm Springs	CA	92264	Riverside	Self Storage	547
	7.04	Barclays	3686 Old Germantown Road	3686 Germantown Road	Memphis	TN	38125	Shelby	Self Storage	841
	7.05	Barclays	500 Radio Road	500 Radio Road	Palm Springs	CA	92262	Riverside	Self Storage	549
	7.06	Barclays	9275 Macon Road	9275 Macon Road	Memphis	TN	38016	Shelby	Self Storage	549
	7.07	Barclays	72500 Varner Road	72500 Varner Road	Thousand Palms	CA	92276	Riverside	Self Storage	693
	7.08	Barclays	22075 Highway 18	22075 Highway 18	Apple Valley	CA	92307	San Bernardino	Self Storage	573
	7.09	Barclays	3040 Austin Peay Highway	3040 Austin Peay Highway	Memphis	TN	38128	Shelby	Self Storage	539
	7.10	Barclays	18690 Highway 18	18690 Highway 18	Apple Valley	CA	92307	San Bernardino	Self Storage	455
	7.11	Barclays	1700 US Highway 75	1700 US Highway 75	Sherman	TX	75090	Grayson	Self Storage	393
	7.12	Barclays	1720 Loy Lake Road	1720 Loy Lake Road	Sherman	TX	75090	Grayson	Self Storage	502
	7.13	Barclays	6140 East Shelby Drive	6140 East Shelby Drive	Memphis	TN	38141	Shelby	Self Storage	577
	7.14	Barclays	6017 Interstate 30	6017 Interstate 30	Greenville	TX	75402	Hunt	Self Storage	445
	7.15	Barclays	7777 Moriarty Road	7777 Moriarty Road	Memphis	TN	38018	Shelby	Self Storage	368
	7.16	Barclays	8123 Wesley Street	8123 Wesley Street	Greenville	TX	75402	Hunt	Self Storage	307
	7.17	Barclays	2922 South 5th Court	2922 South 5th Court	Milwaukee	WI	53207	Milwaukee	Self Storage	488
	7.18	Barclays	3577 New Getwell Road	3577 New Getwell Road	Memphis	TN	38016	Shelby	Self Storage	478
	7.19	Barclays	5141 American Way	5141 American Way	Memphis	TN	38115	Shelby	Self Storage	329
	7.20	Barclays	6390 Winchester Road	6390 Winchester Road	Memphis	TN	38115	Shelby	Self Storage	316
	7.21	Barclays	4705 Winchester Road	4705 Winchester Road	Memphis	TN	38118	Shelby	Self Storage	457
	8	Natixis	NEMA San Francisco	8 10th Street	San Francisco	CA	94103	San Francisco	Multifamily	754
	9	SGFC	787 Eleventh Avenue	787 Eleventh Avenue	New York	NY	10019	New York	Mixed Use	513,638
	10	UBS AG	The Colonnade Office Complex	15301-15305 North Dallas Parkway	Addison	TX	75001	Dallas	Office	1,080,180
	11	UBS AG	Wolverine Portfolio	Various	Various	Various	Various	Various	Manufactured Housing	1,649
	11.01	UBS AG	Apple Tree Estates	1061 Wilson Avenue Northwest	Walker	MI	49534	Kent	Manufactured Housing	238
	11.02	UBS AG	South Lyon	530 Lanier Street	South Lyon	MI	48178	Oakland	Manufactured Housing	211
	11.03	UBS AG	Metro Commons	28745 Van Born Road	Romulus	MI	48174	Wayne	Manufactured Housing	227
	11.04	UBS AG	Brighton Village	7500 West Grand River	Brighton	MI	48114	Livingston	Manufactured Housing	193
	11.05	UBS AG	College Heights	3501 Auburn Road	Auburn Hills	MI	48326	Oakland	Manufactured Housing	161
	11.06	UBS AG	Hillcrest	3205 Douglas Avenue	Kalamazoo	MI	49004	Kalamazoo	Manufactured Housing	150
	11.07	UBS AG	Royal Village	7519 Dorr Street and 7519 Nebraska Avenue	Toledo	OH	43615	Lucas	Manufactured Housing	233

 

    

     

    

 

	11.08	UBS AG	Fernwood	2701 Staghorn Court	Deland	FL	32724	Volusia	Manufactured Housing	92
	11.09	UBS AG	Satellite Bay	6250 Roosevelt Boulevard	Clearwater	FL	33760	Pinellas	Manufactured Housing	83
	11.10	UBS AG	Chalet Village	14622 North Nebraska Avenue	Tampa	FL	33613	Hillsborough	Manufactured Housing	61
	12	Barclays	DoubleTree Colorado Springs	1775 East Cheyenne Mountain Boulevard	Colorado Springs	CO	80906	El Paso	Hotel	299
	13	SGFC	Kings Mountain Center	140 Riverside Court	Kings Mountain	NC	28086	Cleveland	Office	215,000
	14	RMF	The Falls In Hudson	158 Union Turnpike	Hudson	NY	12534	Columbia	Multifamily	116
	15	KeyBank	Alton Self Storage	2215 Alton Parkway	Irvine	CA	92606	Orange	Self Storage	1,554
	16	Barclays	4201 Connecticut Avenue Northwest	4201 Connecticut Avenue Northwest	Washington	DC	20008	District of Columbia	Office	70,658
	17	Barclays	California Center	8950 Cal Center Drive	Sacramento	CA	95826	Sacramento	Office	169,880
	18	SGFC	ExchangeRight Net Leased Portfolio 26	Various	Various	Various	Various	Various	Retail	403,547
	18.01	SGFC	Hy-Vee - Oakdale (10th Street), MN	7180 10th Street North	Oakdale	MN	55128	Washington	Retail	96,336
	18.02	SGFC	Pick n Save - Wausau (Bridge), WI	205 Central Bridge Street	Wausau	WI	54401	Marathon	Retail	67,951
	18.03	SGFC	Tractor Supply - Conroe (Hwy 242), TX	10800 Highway 242	Conroe	TX	77385	Montgomery	Retail	21,702
	18.04	SGFC	Walgreens - Chalmette (West Judge Perez), LA	100 West Judge Perez Drive	Chalmette	LA	70043	Saint Bernard	Retail	15,120
	18.05	SGFC	Tractor Supply - Santa Fe (FM 1764), TX	13410 FM 1764 Road	Santa Fe	TX	77510	Galveston	Retail	21,702
	18.06	SGFC	Tractor Supply - Odessa (Interstate 20), TX	1511 West Interstate 20	Odessa	TX	79766	Ector	Retail	21,930
	18.07	SGFC	Walgreens - Cincinnati (Bridgetown), OH	5508 Bridgetown Road	Cincinnati	OH	45248	Hamilton	Retail	13,905
	18.08	SGFC	Walgreens - Lafayette (Creasy Lane), IN	130 South Creasy Lane	Lafayette	IN	47905	Tippecanoe	Retail	14,820
	18.09	SGFC	Walgreens - McDonough (Hwy 81), GA	896 Highway 81 East	McDonough	GA	30252	Henry	Retail	14,820
	18.10	SGFC	CVS - Fayetteville, GA	480 Glynn Street	Fayetteville	GA	30214	Fayette	Retail	10,164
	18.11	SGFC	Tractor Supply - Conyers (Highway 20), GA	4461 Highway 20 Southeast	Conyers	GA	30013	Rockdale	Retail	19,097
	18.12	SGFC	Walgreens - Milwaukee (Howell), WI	3701 South Howell Avenue	Milwaukee	WI	53207	Milwaukee	Retail	20,645
	18.13	SGFC	Advance Auto Parts - Midlothian, VA	10710 Hull Street Road	Midlothian	VA	23112	Chesterfield	Retail	12,000
	18.14	SGFC	AutoZone - Merrillville (Colorado), IN	8130 Colorado Street	Merrillville	IN	46410	Lake	Retail	8,077
	18.15	SGFC	Dollar General - Uniontown (Cleveland), OH	13229 Cleveland Avenue Northwest	Uniontown	OH	44685	Stark	Retail	9,100
	18.16	SGFC	Dollar General - Cleveland (Dalton), TN	3609 Dalton Pike Southeast	Cleveland	TN	37323	Bradley	Retail	9,026
	18.17	SGFC	Dollar General - Edinburg (Hwy 107), TX	8920 East Highway 107	Edinburg	TX	78542	Hidalgo	Retail	9,100
	18.18	SGFC	Dollar General - Alton (West Main), TX	2708 West Main Avenue	Alton	TX	78573	Hidalgo	Retail	9,026
	18.19	SGFC	Dollar General - Clarksville (Ash Ridge), TN	1100 Ash Ridge Drive	Clarksville	TN	37042	Montgomery	Retail	9,026
	19	Barclays	Patuxent Crossing	9755-9830 Patuxent Woods Drive	Columbia	MD	21046	Howard	Office	294,730
	20	KeyBank	University Place	6125 University Drive Northwest	Huntsville	AL	35806	Madison	Retail	154,428
	21	UBS AG	The Block Northway	6210-6300 Northway Drive and 8003-8033 McKnight Road	Pittsburgh	PA	15237	Allegheny	Retail	354,400
	22	RMF	Goodyear Portfolio	Various	Akron	OH	Various	Summit	Industrial	2,046,012
	22.01	RMF	Innovation Tech Center	200 Innovation Way and 1376 Tech Way Drive	Akron	OH	44306	Summit	Industrial	1,621,500
	22.02	RMF	Research Center	142 Goodyear Boulevard and 130 Johns Avenue	Akron	OH	44305	Summit	Industrial	193,312
	22.03	RMF	Tire Testing	309 Seiberling Street	Akron	OH	44306	Summit	Industrial	145,600
	22.04	RMF	North Archwood	1485 East Archwood Avenue	Akron	OH	44306	Summit	Industrial	85,600
	23	SGFC	ExchangeRight Net Leased Portfolio 24	Various	Various	Various	Various	Various	Various	337,478
	23.01	SGFC	BioLife Plasma Services L.P. - West Des Moines, IA	6380 Village View Drive	West Des Moines	IA	50266	Dallas	Office	16,637
	23.02	SGFC	BioLife Plasma Services L.P. - Mt. Juliet, TN	540 Pleasant Grove Road	Mount Juliet	TN	37122	Wilson	Office	16,600
	23.03	SGFC	Walgreens - Romeoville, IL	347 North Independence Boulevard	Romeoville	IL	60446	Will	Retail	14,752
	23.04	SGFC	Walgreens - Lawrenceville, GA	2990 Five Forks Trickum Road	Lawrenceville	GA	30044	Gwinnett	Retail	14,997
	23.05	SGFC	Pick n Save - Wisconsin Rapids, WI	900 East Riverview Expressway	Wisconsin Rapids	WI	54494	Wood	Retail	49,580
	23.06	SGFC	Tractor Supply - Albuquerque, NM	8100 2nd Street Northwest	Albuquerque	NM	87114	Bernalillo	Retail	19,021
	23.07	SGFC	Walgreens - Sheboygan, WI	3320 Business Drive	Sheboygan	WI	53081	Sheboygan	Retail	15,046
	23.08	SGFC	Walgreens - Oswego, IL	410 Chicago Road	Oswego	IL	60543	Kendall	Retail	15,005
	23.09	SGFC	Walgreens - Waco, TX	4100 Bosque Boulevard	Waco	TX	76710	McLennan	Retail	13,808
	23.10	SGFC	Tractor Supply - Antioch, IL	1325 Main Street	Antioch	IL	60002	Lake	Retail	19,041
	23.11	SGFC	Walgreens - Austin, TX	11810 Ranch Road 620 North	Cedar Park	TX	78750	Williamson	Retail	13,826
	23.12	SGFC	Walgreens - Flower Mound, TX	1101 Cross Timbers Road	Flower Mound	TX	75028	Denton	Retail	13,870
	23.13	SGFC	Tractor Supply - Columbia Station, OH	24100 Royalton Road	Columbia Station	OH	44028	Lorain	Retail	19,028
	23.14	SGFC	Fresenius Medical Care - Brownsville, TX	2600 North Coria Street	Brownsville	TX	78520	Cameron	Office	10,325
	23.15	SGFC	CVS Pharmacy - Peoria Heights, IL	4521 North Prospect Road	Peoria Heights	IL	61614	Peoria	Retail	10,090
	23.16	SGFC	Advance Auto Parts - Grayslake, IL	995 East Belvidere Road	Grayslake	IL	60030	Lake	Retail	9,418
	23.17	SGFC	Dollar General - Lancaster, PA	3510 Marietta Avenue	Lancaster	PA	17601	Lancaster	Retail	9,167
	23.18	SGFC	Sherwin Williams - Painesville, OH	2035 Mentor Avenue	Painesville	OH	44077	Lake	Retail	4,528
	23.19	SGFC	Dollar General - Herminie, PA	205 Highland Avenue	Herminie	PA	15637	Westmoreland	Retail	9,512
	23.20	SGFC	Dollar General - Tallahassee, FL	4600 Crawfordville Road	Tallahassee	FL	32305	Leon	Retail	9,221
	23.21	SGFC	Dollar General - Gibsonia, PA	289 Oak Road	Gibsonia	PA	15044	Allegheny	Retail	9,533
	23.22	SGFC	Dollar General - Mansfield, OH	875 Woodville Road	Mansfield	OH	44907	Richland	Retail	9,226
	23.23	SGFC	Advance Auto Parts - McDonough, GA	250 Keys Ferry Street	McDonough	GA	30253	Henry	Retail	5,522
	23.24	SGFC	Dollar Tree - Cleveland, OH	12709 Bellaire Road	Cleveland	OH	44135	Cuyahoga	Retail	9,725
	24	SGFC	Creekside Village Apartments	5450 Southwest Erickson Avenue	Beaverton	OR	97005	Washington	Multifamily	120
	25	Barclays	DentaQuest & Aurora Portfolio	Various	Milwaukee	WI	53224	Milwaukee	Office	168,828
	25.01	Barclays	DentaQuest	11100 West Liberty Drive	Milwaukee	WI	53224	Milwaukee	Office	88,259
	25.02	Barclays	Aurora Health Care	7800 North 113th Street	Milwaukee	WI	53224	Milwaukee	Office	80,569
	26	UBS AG	Heartland Dental Medical Office Portfolio	Various	Various	Various	Various	Various	Various	962,501
	26.001	UBS AG	Heartland Dental Medical Office Portfolio - 1200 Network Centre Drive	1200 Network Centre Drive	Effingham	IL	62401	Effingham	Office	84,190
	26.002	UBS AG	Heartland Dental Medical Office Portfolio - 9150 North East Barry Road	9150 North East Barry Road	Kansas City	MO	64157	Clay	Mixed Use	9,727
	26.003	UBS AG	Heartland Dental Medical Office Portfolio - 11925 Jones Bridge Road	11925 Jones Bridge Road	Johns Creek	GA	30005	Fulton	Mixed Use	14,860
	26.004	UBS AG	Heartland Dental Medical Office Portfolio - 200 Brevco Plaza	200 Brevco Plaza	Lake St. Louis	MO	63367	St. Charles	Office	18,826
	26.005	UBS AG	Heartland Dental Medical Office Portfolio - 1760 West Virginia Street	1760 West Virginia Street	McKinney	TX	75069	Collin	Office	10,300
	26.006	UBS AG	Heartland Dental Medical Office Portfolio - 117 St. Patrick’s Drive	117 St. Patrick’s Drive	Waldorf	MD	20603	Charles	Office	6,699
	26.007	UBS AG	Heartland Dental Medical Office Portfolio - 1647 County Road 220	1647 County Road 220	Fleming Island	FL	32003	Clay	Office	8,168
	26.008	UBS AG	Heartland Dental Medical Office Portfolio - 3500 East Highway 377	3500 East Highway 377	Granbury	TX	76049	Hood	Office	6,000
	26.009	UBS AG	Heartland Dental Medical Office Portfolio - 4112 North Belt Highway	4112 North Belt Highway	St. Joseph	MO	64506	Buchanan	Mixed Use	6,000
	26.010	UBS AG	Heartland Dental Medical Office Portfolio - 3009 Winghaven Boulevard	3009 Winghaven Boulevard	O’Fallon	MO	63368	St. Charles	Mixed Use	8,200
	26.011	UBS AG	Heartland Dental Medical Office Portfolio - 2202 Althoff Drive	2202 Althoff Drive	Effingham	IL	62401	Effingham	Office	42,962
	26.012	UBS AG	Heartland Dental Medical Office Portfolio - 3820 Wabash Avenue	3820 Wabash Avenue	Springfield	IL	62711	Sangamon	Office	5,500
	26.013	UBS AG	Heartland Dental Medical Office Portfolio - 561 East Lincoln Highway	561 East Lincoln Highway	New Lenox	IL	60451	Will	Mixed Use	6,810
	26.014	UBS AG	Heartland Dental Medical Office Portfolio - 508 South 52nd Street	508 South 52nd Street	Rogers	AR	72758	Benton	Office	10,000
	26.015	UBS AG	Heartland Dental Medical Office Portfolio - 1025 Ashley Street	1025 Ashley Street	Bowling Green	KY	42103	Warren	Office	6,520

 

    

     

    

 

	26.016	UBS AG	Heartland Dental Medical Office Portfolio - 440 Erie Parkway	440 Erie Parkway	Erie	CO	80516	Weld	Office	4,150
	26.017	UBS AG	Heartland Dental Medical Office Portfolio - 1381 Citrus Tower Boulevard	1381 Citrus Tower Boulevard	Clermont	FL	34711	Lake	Office	10,014
	26.018	UBS AG	Heartland Dental Medical Office Portfolio - 1751 Pleasant Road	1751 Pleasant Road	Fort Mill	SC	29708	York	Mixed Use	6,738
	26.019	UBS AG	Heartland Dental Medical Office Portfolio - 9625 Lake Nona Village Place	9625 Lake Nona Village Place	Orlando	FL	32827	Orange	Office	4,878
	26.020	UBS AG	Heartland Dental Medical Office Portfolio - 615 Saint James Avenue	615 Saint James Avenue	Goose Creek	SC	29445	Berkeley	Office	4,100
	26.021	UBS AG	Heartland Dental Medical Office Portfolio - 13816 Narcoossee Road	13816 Narcoossee Road	Orlando	FL	32832	Orange	Office	4,414
	26.022	UBS AG	Heartland Dental Medical Office Portfolio - 1695 Wells Road	1695 Wells Road	Orange Park	FL	32073	Clay	Office	5,500
	26.023	UBS AG	Heartland Dental Medical Office Portfolio - 4355 Suwanee Dam Road	4355 Suwanee Dam Road	Suwanee	GA	30024	Gwinnett	Office	11,850
	26.024	UBS AG	Heartland Dental Medical Office Portfolio - 7310 North Villa Drive	7310 North Villa Drive	Peoria	IL	61614	Peoria	Office	6,880
	26.025	UBS AG	Heartland Dental Medical Office Portfolio - 299A Indian Lake Boulevard	299A Indian Lake Boulevard	Hendersonville	TN	37075	Sumner	Mixed Use	6,160
	26.026	UBS AG	Heartland Dental Medical Office Portfolio - 2455 East Main Street	2455 East Main Street	Plainfield	IN	46168	Hendricks	Office	6,464
	26.027	UBS AG	Heartland Dental Medical Office Portfolio - 630 East Markey Parkway	630 East Markey Parkway	Belton	MO	64012	Cass	Mixed Use	5,625
	26.028	UBS AG	Heartland Dental Medical Office Portfolio - 1613 East Pflugerville Parkway	1613 East Pflugerville Parkway	Pflugerville	TX	78660	Travis	Office	3,883
	26.029	UBS AG	Heartland Dental Medical Office Portfolio - 782 Belle Terre Parkway	782 Belle Terre Parkway	Palm Coast	FL	32164	Flagler	Mixed Use	4,955
	26.030	UBS AG	Heartland Dental Medical Office Portfolio - 11890 Highway 707	11890 Highway 707	Murrells Inlet	SC	29576	Horry	Office	4,386
	26.031	UBS AG	Heartland Dental Medical Office Portfolio - 7551 Osceola Polk Line Road	7551 Osceola Polk Line Road	Davenport	FL	33896	Osceola	Office	5,453
	26.032	UBS AG	Heartland Dental Medical Office Portfolio - 100 Piper Hill Drive	100 Piper Hill Drive	St. Peters	MO	63376	St. Charles	Office	9,943
	26.033	UBS AG	Heartland Dental Medical Office Portfolio - 8624 Lee Vista Boulevard	8624 Lee Vista Boulevard	Orlando	FL	32829	Orange	Office	5,275
	26.034	UBS AG	Heartland Dental Medical Office Portfolio - 149 Tuscan Way	149 Tuscan Way	Saint Augustine	FL	32092	Saint Johns	Office	4,108
	26.035	UBS AG	Heartland Dental Medical Office Portfolio - 2740 Prairie Crossing Drive	2740 Prairie Crossing Drive	Springfield	IL	62711	Sangamon	Office	3,803
	26.036	UBS AG	Heartland Dental Medical Office Portfolio - 2066 Bruce B. Downs Boulevard	2066 Bruce B. Downs Boulevard	Wesley Chapel	FL	33543	Pasco	Mixed Use	4,194
	26.037	UBS AG	Heartland Dental Medical Office Portfolio - 209 Latitude Lane	209 Latitude Lane	Clover	SC	29710	York	Office	4,079
	26.038	UBS AG	Heartland Dental Medical Office Portfolio - 4608 South West College Road	4608 South West College Road	Ocala	FL	34474	Marion	Mixed Use	5,114
	26.039	UBS AG	Heartland Dental Medical Office Portfolio - 1315 Bell Road	1315 Bell Road	Antioch	TN	37013	Davidson	Mixed Use	8,200
	26.040	UBS AG	Heartland Dental Medical Office Portfolio - 4237 U.S. Highway 1 South	4237 U.S. Highway 1 South	Saint Augustine	FL	32095	Saint Johns	Office	4,000
	26.041	UBS AG	Heartland Dental Medical Office Portfolio - 1521 East Debbie Lane	1521 East Debbie Lane	Mansfield	TX	76063	Tarrant	Office	5,028
	26.042	UBS AG	Heartland Dental Medical Office Portfolio - 3152 South Broadway	3152 South Broadway	Edmond	OK	73013	Oklahoma	Office	5,517
	26.043	UBS AG	Heartland Dental Medical Office Portfolio - 8701 South Garnett Road	8701 South Garnett Road	Broken Arrow	OK	74012	Tulsa	Office	7,107
	26.044	UBS AG	Heartland Dental Medical Office Portfolio - 450 South Weber Road	450 South Weber Road	Romeoville	IL	60446	Will	Office	4,000
	26.045	UBS AG	Heartland Dental Medical Office Portfolio - 840 Nissan Drive	840 Nissan Drive	Smyrna	TN	37167	Rutherford	Mixed Use	5,871
	26.046	UBS AG	Heartland Dental Medical Office Portfolio - 12222 Route 47	12222 Route 47	Huntley	IL	60142	Kane	Office	3,569
	26.047	UBS AG	Heartland Dental Medical Office Portfolio - 3415 Livernois Road	3415 Livernois Road	Troy	MI	48083	Oakland	Office	5,661
	26.048	UBS AG	Heartland Dental Medical Office Portfolio - 5309 Buffalo Gap Road	5309 Buffalo Gap Road	Abilene	TX	79606	Taylor	Office	8,164
	26.049	UBS AG	Heartland Dental Medical Office Portfolio - 8190 Windfall Lane	8190 Windfall Lane	Camby	IN	46113	Hendricks	Office	8,400
	26.050	UBS AG	Heartland Dental Medical Office Portfolio - 2620 East Highway 50	2620 East Highway 50	Clermont	FL	34711	Lake	Office	5,129
	26.051	UBS AG	Heartland Dental Medical Office Portfolio - 10670 Southwest Tradition Square	10670 Southwest Tradition Square	Port St. Lucie	FL	34987	Saint Lucie	Office	4,000
	26.052	UBS AG	Heartland Dental Medical Office Portfolio - 4939 Courthouse Street	4939 Courthouse Street	Williamsburg	VA	23188	James City	Office	5,300
	26.053	UBS AG	Heartland Dental Medical Office Portfolio - 2301 Old Canoe Creek Road	2301 Old Canoe Creek Road	St. Cloud	FL	34772	Osceola	Office	5,050
	26.054	UBS AG	Heartland Dental Medical Office Portfolio - 507 North Hershey Road	507 North Hershey Road	Bloomington	IL	61704	McLean	Office	7,690
	26.055	UBS AG	Heartland Dental Medical Office Portfolio - 242 Southwoods Center	242 Southwoods Center	Columbia	IL	62236	Monroe	Office	6,790
	26.056	UBS AG	Heartland Dental Medical Office Portfolio - 3016 Columbia Avenue	3016 Columbia Avenue	Franklin	TN	37064	Williamson	Mixed Use	4,371
	26.057	UBS AG	Heartland Dental Medical Office Portfolio - 4120 North 197th Avenue	4120 North 197th Avenue	Litchfield Park	AZ	85340	Maricopa	Office	4,000
	26.058	UBS AG	Heartland Dental Medical Office Portfolio - 13794 Beach Boulevard	13794 Beach Boulevard	Jacksonville	FL	32224	Duval	Mixed Use	4,929
	26.059	UBS AG	Heartland Dental Medical Office Portfolio - 3037 Southwest Port St. Lucie Boulevard	3037 Southwest Port St. Lucie Boulevard	Port St. Lucie	FL	34953	St. Lucie	Office	4,000
	26.060	UBS AG	Heartland Dental Medical Office Portfolio - 1840 Dekalb Avenue	1840 Dekalb Avenue	Sycamore	IL	60178	DeKalb	Mixed Use	6,225
	26.061	UBS AG	Heartland Dental Medical Office Portfolio - 9100 Highway 119	9100 Highway 119	Alabaster	AL	35007	Shelby	Office	4,000
	26.062	UBS AG	Heartland Dental Medical Office Portfolio - 42 Market Square Road	42 Market Square Road	Newnan	GA	30265	Coweta	Office	7,305
	26.063	UBS AG	Heartland Dental Medical Office Portfolio - 2707 Sycamore Road	2707 Sycamore Road	DeKalb	IL	60115	DeKalb	Office	10,000
	26.064	UBS AG	Heartland Dental Medical Office Portfolio - 2014 Lime Kiln Road	2014 Lime Kiln Road	Bellevue	WI	54311	Brown	Mixed Use	5,756
	26.065	UBS AG	Heartland Dental Medical Office Portfolio - 103 Farabee Drive North	103 Farabee Drive North	Lafayette	IN	47905	Tippecanoe	Office	5,642
	26.066	UBS AG	Heartland Dental Medical Office Portfolio - 4999 North Tanner Road	4999 North Tanner Road	Orlando	FL	32826	Orange	Office	4,063
	26.067	UBS AG	Heartland Dental Medical Office Portfolio - 674 Lake Joy Road	674 Lake Joy Road	Warner Robins	GA	31047	Houston	Office	4,000
	26.068	UBS AG	Heartland Dental Medical Office Portfolio - 1828 IN-44	1828 IN-44	Shelbyville	IN	46176	Shelby	Office	6,644
	26.069	UBS AG	Heartland Dental Medical Office Portfolio - 2950 South Rutherford Boulevard	2950 South Rutherford Boulevard	Murfreesboro	TN	37130	Rutherford	Mixed Use	4,769
	26.070	UBS AG	Heartland Dental Medical Office Portfolio - 545 East Hunt Highway	545 East Hunt Highway	San Tan Valley	AZ	85143	Maricopa	Office	4,000
	26.071	UBS AG	Heartland Dental Medical Office Portfolio - 17810 Pierce Plaza	17810 Pierce Plaza	Omaha	NE	68130	Douglas	Office	4,798
	26.072	UBS AG	Heartland Dental Medical Office Portfolio - 5445 South Williamson Boulevard	5445 South Williamson Boulevard	Port Orange	FL	32128	Volusia	Office	3,215
	26.073	UBS AG	Heartland Dental Medical Office Portfolio - 780 East-West Connector South West	780 East-West Connector South West	Austell	GA	30106	Cobb	Mixed Use	5,989
	26.074	UBS AG	Heartland Dental Medical Office Portfolio - 16620 West 159th Street	16620 West 159th Street	Lockport	IL	60441	Will	Office	3,569
	26.075	UBS AG	Heartland Dental Medical Office Portfolio - 13851 North US Highway 441	13851 North US Highway 441	Lady Lake	FL	32159	Sumter	Office	4,227
	26.076	UBS AG	Heartland Dental Medical Office Portfolio - 3120 Mahan Drive	3120 Mahan Drive	Tallahassee	FL	32308	Leon	Mixed Use	4,195
	26.077	UBS AG	Heartland Dental Medical Office Portfolio - 2000 Veterans Memorial Parkway South	2000 Veterans Memorial Parkway South	Lafayette	IN	47909	Tippecanoe	Office	4,000
	26.078	UBS AG	Heartland Dental Medical Office Portfolio - 1402 U.S. Route 12	1402 U.S. Route 12	Fox Lake	IL	60020	Lake	Office	4,135
	26.079	UBS AG	Heartland Dental Medical Office Portfolio - 1776 Blanding Boulevard	1776 Blanding Boulevard	Middleburg	FL	32068	Clay	Office	4,108
	26.080	UBS AG	Heartland Dental Medical Office Portfolio - 3012 Anchor Drive	3012 Anchor Drive	Hamilton	OH	45011	Butler	Office	5,493
	26.081	UBS AG	Heartland Dental Medical Office Portfolio - 1715 West Main Street	1715 West Main Street	Lebanon	TN	37087	Wilson	Mixed Use	5,000
	26.082	UBS AG	Heartland Dental Medical Office Portfolio - 10389 Big Bend Road	10389 Big Bend Road	Riverview	FL	33568	Hillsborough	Mixed Use	3,830
	26.083	UBS AG	Heartland Dental Medical Office Portfolio - 7103 Whitestown Parkway	7103 Whitestown Parkway	Zionsville	IN	46077	Boone	Office	4,100
	26.084	UBS AG	Heartland Dental Medical Office Portfolio - 2751 Fountain Place	2751 Fountain Place	Wildwood	MO	63040	St. Louis	Office	6,590
	26.085	UBS AG	Heartland Dental Medical Office Portfolio - 2030 Crossing Circle	2030 Crossing Circle	Spring Hill	TN	37174	Maury	Office	3,300
	26.086	UBS AG	Heartland Dental Medical Office Portfolio - 13101 East 96th Street North	13101 East 96th Street North	Owasso	OK	74055	Tulsa	Office	4,100
	26.087	UBS AG	Heartland Dental Medical Office Portfolio - 692 Essington Road	692 Essington Road	Joliet	IL	60435	Will	Office	6,030
	26.088	UBS AG	Heartland Dental Medical Office Portfolio - 240 Blossom Park Drive	240 Blossom Park Drive	Georgetown	KY	40324	Scott	Office	6,240
	26.089	UBS AG	Heartland Dental Medical Office Portfolio - 6005 Watson Boulevard	6005 Watson Boulevard	Byron	GA	31008	Houston	Office	5,000
	26.090	UBS AG	Heartland Dental Medical Office Portfolio - 3237 Sixes Road	3237 Sixes Road	Canton	GA	30114	Cherokee	Office	4,465
	26.091	UBS AG	Heartland Dental Medical Office Portfolio - 4030 Winder Highway	4030 Winder Highway	Flowery Branch	GA	30542	Hall	Office	4,079
	26.092	UBS AG	Heartland Dental Medical Office Portfolio - 8605 East State Road 70	8605 East State Road 70	Bradenton	FL	34202	Manatee	Office	4,275
	26.093	UBS AG	Heartland Dental Medical Office Portfolio - 540 West Walnut Street	540 West Walnut Street	Oglesby	IL	61348	LaSalle	Office	7,472
	26.094	UBS AG	Heartland Dental Medical Office Portfolio - 5630 Plank Road	5630 Plank Road	Fredericksburg	VA	22407	Spotsylvania	Office	4,829
	26.095	UBS AG	Heartland Dental Medical Office Portfolio - 10505 Lima Road	10505 Lima Road	Fort Wayne	IN	46818	Allen	Office	5,090
	26.096	UBS AG	Heartland Dental Medical Office Portfolio - 7485 Vanderbilt Beach Boulevard	7485 Vanderbilt Beach Boulevard	Naples	FL	34119	Collier	Office	3,849
	26.097	UBS AG	Heartland Dental Medical Office Portfolio - 2701 South Koke Mill Road	2701 South Koke Mill Road	Springfield	IL	62704	Sangamon	Office	5,857

 

    

     

    

 

	26.098	UBS AG	Heartland Dental Medical Office Portfolio - 22329 Greenview Parkway	22329 Greenview Parkway	Great Mills	MD	20634	St. Mary’s	Office	3,840
	26.099	UBS AG	Heartland Dental Medical Office Portfolio - 25000 Bernwood Drive	25000 Bernwood Drive	Bonita Springs	FL	34135	Lee	Office	4,213
	26.100	UBS AG	Heartland Dental Medical Office Portfolio - 3500 Clemson Boulevard	3500 Clemson Boulevard	Anderson	SC	29621	Anderson	Office	2,815
	26.101	UBS AG	Heartland Dental Medical Office Portfolio - 2222 Highway 540A East	2222 Highway 540A East	Lakeland	FL	33813	Polk	Office	4,596
	26.102	UBS AG	Heartland Dental Medical Office Portfolio - 1055 Pine Log Road	1055 Pine Log Road	Aiken	SC	29803	Aiken	Office	3,769
	26.103	UBS AG	Heartland Dental Medical Office Portfolio - 4315 North Holland Sylvania Road	4315 North Holland Sylvania Road	Sylvania	OH	43623	Lucas	Office	3,948
	26.104	UBS AG	Heartland Dental Medical Office Portfolio - 21300 Town Commons Drive	21300 Town Commons Drive	Estero	FL	33928	Lee	Office	3,820
	26.105	UBS AG	Heartland Dental Medical Office Portfolio - 1905 Convenience Place	1905 Convenience Place	Champaign	IL	61820	Champaign	Office	3,770
	26.106	UBS AG	Heartland Dental Medical Office Portfolio - 3308 Platt Springs Road	3308 Platt Springs Road	West Columbia	SC	29170	Lexington	Office	5,880
	26.107	UBS AG	Heartland Dental Medical Office Portfolio - 132 Milestone Way	132 Milestone Way	Greenville	SC	29615	Greenville	Office	4,700
	26.108	UBS AG	Heartland Dental Medical Office Portfolio - 1429 Chester Boulevard	1429 Chester Boulevard	Richmond	IN	47374	Wayne	Office	3,920
	26.109	UBS AG	Heartland Dental Medical Office Portfolio - 1339 North Sumter Boulevard	1339 North Sumter Boulevard	North Port	FL	34286	Sarasota	Office	5,257
	26.110	UBS AG	Heartland Dental Medical Office Portfolio - 1536 Farm to Market 359 Road	1536 Farm to Market 359 Road	Richmond	TX	77406	Fort Bend	Office	4,900
	26.111	UBS AG	Heartland Dental Medical Office Portfolio - 3585 North 168th Court	3585 North 168th Court	Omaha	NE	68116	Douglas	Office	3,269
	26.112	UBS AG	Heartland Dental Medical Office Portfolio - 1980 U.S. Highway 1 South	1980 U.S. Highway 1 South	St. Augustine	FL	32086	Saint Johns	Office	4,952
	26.113	UBS AG	Heartland Dental Medical Office Portfolio - 13328 Metcalf Avenue	13328 Metcalf Avenue	Overland Park	KS	66213	Johnson	Mixed Use	4,207
	26.114	UBS AG	Heartland Dental Medical Office Portfolio - 826 West Lincoln Avenue	826 West Lincoln Avenue	Charleston	IL	61920	Coles	Office	4,690
	26.115	UBS AG	Heartland Dental Medical Office Portfolio - 1515 West 45th Avenue	1515 West 45th Avenue	Griffith	IN	46319	Lake	Office	5,000
	26.116	UBS AG	Heartland Dental Medical Office Portfolio - 1012 Mill Pond Lane	1012 Mill Pond Lane	Greencastle	IN	46135	Putnam	Office	5,231
	26.117	UBS AG	Heartland Dental Medical Office Portfolio - 621 Chatham Avenue	621 Chatham Avenue	Columbia	SC	29205	Richland	Office	6,600
	26.118	UBS AG	Heartland Dental Medical Office Portfolio - 24940 South Tamiami Trail	24940 South Tamiami Trail	Bonita Springs	FL	34134	Lee	Office	3,675
	26.119	UBS AG	Heartland Dental Medical Office Portfolio - 609 Front Street	609 Front Street	Celebration	FL	34747	Osceola	Office	3,419
	26.120	UBS AG	Heartland Dental Medical Office Portfolio - 6190 LBJ Freeway	6190 LBJ Freeway	Dallas	TX	75240	Dallas	Office	3,500
	26.121	UBS AG	Heartland Dental Medical Office Portfolio - 3417 Schofield Avenue	3417 Schofield Avenue	Weston	WI	54476	St. Clair	Office	4,535
	26.122	UBS AG	Heartland Dental Medical Office Portfolio - 330 Park Place	330 Park Place	Mishawaka	IN	46545	St. Joseph	Office	3,800
	26.123	UBS AG	Heartland Dental Medical Office Portfolio - 1490 North Green Mount Road	1490 North Green Mount Road	O’Fallon	IL	62269	St. Clair	Office	4,000
	26.124	UBS AG	Heartland Dental Medical Office Portfolio - 213 Main Street	213 Main Street	Blythewood	SC	29016	Richland	Office	3,286
	26.125	UBS AG	Heartland Dental Medical Office Portfolio - 11119 Hearth Road	11119 Hearth Road	Spring Hill	FL	34608	Hernando	Office	4,375
	26.126	UBS AG	Heartland Dental Medical Office Portfolio - 2362 West Boulevard Street	2362 West Boulevard Street	Kokomo	IN	46902	Howard	Office	3,920
	26.127	UBS AG	Heartland Dental Medical Office Portfolio - 2812 East Main Street	2812 East Main Street	Merrill	WI	54452	Lincoln	Office	4,875
	26.128	UBS AG	Heartland Dental Medical Office Portfolio - 1202 South Broad Street	1202 South Broad Street	Scottsboro	AL	35768	Jackson	Office	4,600
	26.129	UBS AG	Heartland Dental Medical Office Portfolio - 8790 Walnut Grove Road	8790 Walnut Grove Road	Cordova	TN	38018	Shelby	Office	3,697
	26.130	UBS AG	Heartland Dental Medical Office Portfolio - 10708 East State Road 64	10708 East State Road 64	Bradenton	FL	34212	Manatee	Office	3,818
	26.131	UBS AG	Heartland Dental Medical Office Portfolio - 2184 FM 3009	2184 FM 3009	Schertz	TX	78154	Guadalupe	Office	3,404
	26.132	UBS AG	Heartland Dental Medical Office Portfolio - 2210 Boiling Springs Road	2210 Boiling Springs Road	Boiling Springs	SC	29316	Spartanburg	Office	4,297
	26.133	UBS AG	Heartland Dental Medical Office Portfolio - 3105 Kirby Whitten Road	3105 Kirby Whitten Road	Bartlett	TN	38134	Shelby	Office	4,250
	26.134	UBS AG	Heartland Dental Medical Office Portfolio - 716 32nd Street South	716 32nd Street South	Birmingham	AL	35233	Jefferson	Office	4,700
	26.135	UBS AG	Heartland Dental Medical Office Portfolio - 1010 West U.S. Route 6	1010 West U.S. Route 6	Morris	IL	60450	Grundy	Office	3,600
	26.136	UBS AG	Heartland Dental Medical Office Portfolio - 935 West Exchange Parkway	935 West Exchange Parkway	Allen	TX	75013	Collin	Office	2,500
	26.137	UBS AG	Heartland Dental Medical Office Portfolio - 3608 Jeffco Boulevard	3608 Jeffco Boulevard	Arnold	MO	63010	Jefferson	Office	3,290
	26.138	UBS AG	Heartland Dental Medical Office Portfolio - 998 Williford Court	998 Williford Court	Spring Hill	TN	37174	Williamson	Office	2,556
	26.139	UBS AG	Heartland Dental Medical Office Portfolio - 4405 Highway 17	4405 Highway 17	Murrells Inlet	SC	29576	Georgetown	Office	4,080
	26.140	UBS AG	Heartland Dental Medical Office Portfolio - 3003 Twin Rivers Drive	3003 Twin Rivers Drive	Arkadelphia	AR	71923	Clark	Office	3,994
	26.141	UBS AG	Heartland Dental Medical Office Portfolio - 12260 Tamiami Trail East	12260 Tamiami Trail East	Naples	FL	34113	Collier	Office	2,700
	26.142	UBS AG	Heartland Dental Medical Office Portfolio - 1405 South 25th Street	1405 South 25th Street	Fort Pierce	FL	34947	St. Lucie	Office	3,984
	26.143	UBS AG	Heartland Dental Medical Office Portfolio - 12605 Troxler Avenue	12605 Troxler Avenue	Highland	IL	62249	Madison	Office	3,403
	26.144	UBS AG	Heartland Dental Medical Office Portfolio - 122 Stone Trace Drive	122 Stone Trace Drive	Mount Sterling	KY	40353	Montgomery	Office	6,025
	26.145	UBS AG	Heartland Dental Medical Office Portfolio - 4455 Florida National Drive	4455 Florida National Drive	Lakeland	FL	33813	Polk	Office	3,847
	26.146	UBS AG	Heartland Dental Medical Office Portfolio - 3645 North Council Road	3645 North Council Road	Bethany	OK	73008	Oklahoma	Office	3,655
	26.147	UBS AG	Heartland Dental Medical Office Portfolio - 9305 Market Square Drive	9305 Market Square Drive	Streetsboro	OH	44241	Portage	Office	4,792
	26.148	UBS AG	Heartland Dental Medical Office Portfolio - 3420 Bayside Lakes Boulevard Southeast	3420 Bayside Lakes Boulevard Southeast	Palm Bay	FL	32909	Brevard	Office	4,803
	26.149	UBS AG	Heartland Dental Medical Office Portfolio - 309 West Ogden Avenue	309 West Ogden Avenue	Naperville	IL	60563	DuPage	Office	2,600
	26.150	UBS AG	Heartland Dental Medical Office Portfolio - 456 University Boulevard North	456 University Boulevard North	Jacksonville	FL	32211	Duval	Office	4,788
	26.151	UBS AG	Heartland Dental Medical Office Portfolio - 1316 McMillan Street	1316 McMillan Street	Worthington	MN	56187	Nobles	Office	3,600
	26.152	UBS AG	Heartland Dental Medical Office Portfolio - 6233 Veterans Parkway	6233 Veterans Parkway	Columbus	GA	31909	Muscogee	Office	2,395
	26.153	UBS AG	Heartland Dental Medical Office Portfolio - 116 Calumet Center Road	116 Calumet Center Road	LaGrange	GA	30241	Troup	Office	3,198
	26.154	UBS AG	Heartland Dental Medical Office Portfolio - 828 South Main Street	828 South Main Street	London	KY	40741	Laurel	Office	6,390
	26.155	UBS AG	Heartland Dental Medical Office Portfolio - 7200 Red Hawk Court	7200 Red Hawk Court	Fort Worth	TX	76132	Tarrant	Office	2,918
	26.156	UBS AG	Heartland Dental Medical Office Portfolio - 303 Ashby Park Lane	303 Ashby Park Lane	Greenville	SC	29607	Greenville	Office	3,100
	26.157	UBS AG	Heartland Dental Medical Office Portfolio - 3106 Professional Plaza	3106 Professional Plaza	Germantown	TN	38138	Shelby	Office	2,500
	26.158	UBS AG	Heartland Dental Medical Office Portfolio - 1950 Chesley Drive	1950 Chesley Drive	Sterling Heights	MI	48310	Macomb	Office	3,365
	26.159	UBS AG	Heartland Dental Medical Office Portfolio - 104 South Houston Road	104 South Houston Road	Warner Robins	GA	31088	Houston	Office	3,386
	26.160	UBS AG	Heartland Dental Medical Office Portfolio - 103 East Tatum Avenue	103 East Tatum Avenue	McColl	SC	29570	Marlboro	Office	4,500
	26.161	UBS AG	Heartland Dental Medical Office Portfolio - 165 Juniper Circle	165 Juniper Circle	Brunswick	GA	31520	Glynn	Office	2,400
	26.162	UBS AG	Heartland Dental Medical Office Portfolio - 135 East Broadway Street	135 East Broadway Street	Sand Springs	OK	74063	Tulsa	Office	4,570
	26.163	UBS AG	Heartland Dental Medical Office Portfolio - 9360 Two Notch Road	9360 Two Notch Road	Columbia	SC	29223	Richland	Office	1,936
	26.164	UBS AG	Heartland Dental Medical Office Portfolio - 12988 Georgia Highway 9	12988 Georgia Highway 9	Milton	GA	30004	Fulton	Office	3,312
	26.165	UBS AG	Heartland Dental Medical Office Portfolio - 5 Jannell Court	5 Jannell Court	Epping	NH	03042	Rockingham	Office	3,270
	26.166	UBS AG	Heartland Dental Medical Office Portfolio - 1617 East Main Street	1617 East Main Street	Easley	SC	29640	Pickens	Office	2,726
	26.167	UBS AG	Heartland Dental Medical Office Portfolio - 2116 Vista Oeste North West, Unit 202	2116 Vista Oeste North West, Unit 202	Albuquerque	NM	87120	Bernalillo	Office	2,900
	26.168	UBS AG	Heartland Dental Medical Office Portfolio - 50 South Kyrene Road, Suite 5	50 South Kyrene Road, Suite 5	Chandler	AZ	85226	Maricopa	Office	1,892
	26.169	UBS AG	Heartland Dental Medical Office Portfolio - 101 Rice Bent Way Suite 4	101 Rice Bent Way Suite 4	Columbia	SC	29205	Richland	Office	2,255
	27	SGFC	600 Pine Avenue	600 Pine Avenue	Goleta	CA	93117	Santa Barbara	Industrial	83,479
	28	Barclays	HGI Lubbock	6027 45th Street	Lubbock	TX	79407	Lubbock	Hotel	113
	29	KeyBank	Carolina Beverage Group Building	110 Barley Park Lane	Mooresville	NC	28115	Iredell	Industrial	151,142
	30	SGFC	TownePlace Suites Altamonte Springs	151 Douglas Avenue	Altamonte Springs	FL	32714	Seminole	Hotel	117
	31	Barclays	Bond Street Norfolk Retail Portfolio	Various	Various	VA	Various	Various	Retail	34,760
	31.01	Barclays	Harbourview North	2051-2099 Sun Harbour Avenue	Suffolk	VA	23435	Suffolk	Retail	19,910
	31.02	Barclays	Peninsula Town Center	2011 Von Schilling Drive	Hampton	VA	23666	Hampton	Retail	14,850
	32	UBS AG	ILPT Hawaii Portfolio	Various	Various	HI	Various	Honolulu	Various	9,591,512
	32.001	UBS AG	2810 Pukoloa Street	2810 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	418,502
	32.002	UBS AG	1360 Pali Highway	1360 Pali Highway	Honolulu	HI	96813	Honolulu	Leased Fee	126,773

 

    

     

    

 

	32.003	UBS AG	1001 Ahua Street	1001 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	337,734
	32.004	UBS AG	848 Ala Lilikoi Street A	848 Ala Lilikoi Street A	Honolulu	HI	96818	Honolulu	Leased Fee	325,786
	32.005	UBS AG	2850 Paa Street	2850 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	298,384
	32.006	UBS AG	949 Mapunapuna Street	949 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	236,914
	32.007	UBS AG	2828 Paa Street	2828 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	187,264
	32.008	UBS AG	80 Sand Island Access Road	80 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	190,836
	32.009	UBS AG	1030 Mapunapuna Street	1030 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	122,281
	32.010	UBS AG	150 Puuhale Road	150 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	123,037
	32.011	UBS AG	2344 Pahounui Drive	2344 Pahounui Drive	Honolulu	HI	96819	Honolulu	Leased Fee	146,430
	32.012	UBS AG	120 Sand Island Access Road	120 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Industrial	70,960
	32.013	UBS AG	1122 Mapunapuna Street	1122 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	105,506
	32.014	UBS AG	2915 Kaihikapu Street	2915 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	105,000
	32.015	UBS AG	819 Ahua Street	819 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	105,013
	32.016	UBS AG	2144 Auiki Street	2144 Auiki Street	Honolulu	HI	96819	Honolulu	Industrial	53,910
	32.017	UBS AG	1027 Kikowaena Place	1027 Kikowaena Place	Honolulu	HI	96819	Honolulu	Leased Fee	102,443
	32.018	UBS AG	1931 Kahai Street	1931 Kahai Street	Honolulu	HI	96819	Honolulu	Leased Fee	96,287
	32.019	UBS AG	148 Mokauea Street	148 Mokauea Street	Honolulu	HI	96819	Honolulu	Leased Fee	85,790
	32.020	UBS AG	2886 Paa Street	2886 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	60,023
	32.021	UBS AG	2838 Kilihau Street	2838 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	83,189
	32.022	UBS AG	803 Ahua Street	803 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	73,013
	32.023	UBS AG	220 Puuhale Road	220 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	65,942
	32.024	UBS AG	930 Mapunapuna Street	930 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	68,992
	32.025	UBS AG	2103 Kaliawa Street	2103 Kaliawa Street	Honolulu	HI	96819	Honolulu	Leased Fee	78,730
	32.026	UBS AG	2969 Mapunapuna Place	2969 Mapunapuna Place	Honolulu	HI	96819	Honolulu	Leased Fee	79,999
	32.027	UBS AG	158 Sand Island Access Road	158 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	100,500
	32.028	UBS AG	1926 Auiki Street	1926 Auiki Street	Honolulu	HI	96819	Honolulu	Industrial	42,253
	32.029	UBS AG	113 Puuhale Road	113 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	77,171
	32.030	UBS AG	2250 Pahounui Drive	2250 Pahounui Drive	Honolulu	HI	96819	Honolulu	Leased Fee	75,627
	32.031	UBS AG	733 Mapunapuna Street	733 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	64,894
	32.032	UBS AG	761 Ahua Street	761 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	73,013
	32.033	UBS AG	918 Ahua Street	918 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	72,072
	32.034	UBS AG	180 Sand Island Access Road	180 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	66,828
	32.035	UBS AG	2829 Awaawaloa Street	2829 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	70,000
	32.036	UBS AG	120 Mokauea Street	120 Mokauea Street	Honolulu	HI	96819	Honolulu	Industrial	31,079
	32.037	UBS AG	2861 Mokumoa Street	2861 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	70,035
	32.038	UBS AG	2826 Kaihikapu Street	2826 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	70,000
	32.039	UBS AG	179 Sand Island Access Road	179 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	62,464
	32.040	UBS AG	855 Mapunapuna Street	855 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	63,436
	32.041	UBS AG	2308 Pahounui Drive	2308 Pahounui Drive	Honolulu	HI	96819	Honolulu	Leased Fee	64,896
	32.042	UBS AG	619 Mapunapuna Street	619 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	55,377
	32.043	UBS AG	2846-A Awaawaloa Street	2846-A Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	61,250
	32.044	UBS AG	238 Sand Island Access Road	238 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	60,000
	32.045	UBS AG	704 Mapunapuna Street	704 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	59,315
	32.046	UBS AG	120B Mokauea Street	120B Mokauea Street	Honolulu	HI	96819	Honolulu	Industrial	35,363
	32.047	UBS AG	1150 Kikowaena Street	1150 Kikowaena Street	Honolulu	HI	96819	Honolulu	Leased Fee	45,753
	32.048	UBS AG	2127 Auiki Street	2127 Auiki Street	Honolulu	HI	96819	Honolulu	Leased Fee	56,900
	32.049	UBS AG	2810 Paa Street	2810 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	52,185
	32.050	UBS AG	2841 Pukoloa Street	2841 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.051	UBS AG	1000 Mapunapuna Street	1000 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	41,833
	32.052	UBS AG	2829 Pukoloa Street	2829 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.053	UBS AG	889 Ahua Street	889 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	49,452
	32.054	UBS AG	2819 Pukoloa Street	2819 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.055	UBS AG	1038 Kikowaena Place	1038 Kikowaena Place	Honolulu	HI	96819	Honolulu	Leased Fee	47,417
	32.056	UBS AG	2965 Mokumoa Street	2965 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	41,586
	32.057	UBS AG	850 Ahua Street	850 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	47,879
	32.058	UBS AG	1330 Pali Highway	1330 Pali Highway	Honolulu	HI	96813	Honolulu	Leased Fee	19,673
	32.059	UBS AG	2855 Pukoloa Street	2855 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.060	UBS AG	2865 Pukoloa Street	2865 Pukoloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.061	UBS AG	789 Mapunapuna Street	789 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	46,559
	32.062	UBS AG	2960 Mokumoa Street	2960 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	38,377
	32.063	UBS AG	231B Sand Island Access Road	231B Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	38,752
	32.064	UBS AG	2020 Auiki Street	2020 Auiki Street	Honolulu	HI	96819	Honolulu	Leased Fee	46,705
	32.065	UBS AG	2857 Awaawaloa Street	2857 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	40,011
	32.066	UBS AG	1050 Kikowaena Place	1050 Kikowaena Place	Honolulu	HI	96819	Honolulu	Leased Fee	42,790
	32.067	UBS AG	2850 Mokumoa Street	2850 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,544
	32.068	UBS AG	2840 Mokumoa Street	2840 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,656
	32.069	UBS AG	2830 Mokumoa Street	2830 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.070	UBS AG	960 Mapunapuna Street	960 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	36,501
	32.071	UBS AG	125B Puuhale Road	125B Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	48,933
	32.072	UBS AG	2809 Kaihikapu Street	2809 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,698
	32.073	UBS AG	212 Mohonua Place	212 Mohonua Place	Honolulu	HI	96819	Honolulu	Leased Fee	46,221
	32.074	UBS AG	692 Mapunapuna Street	692 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.075	UBS AG	1024 Kikowaena Place	1024 Kikowaena Place	Honolulu	HI	96819	Honolulu	Leased Fee	39,831
	32.076	UBS AG	669 Ahua Street	669 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.077	UBS AG	215 Puuhale Road	215 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	41,731
	32.078	UBS AG	142 Mokauea Street	142 Mokauea Street	Honolulu	HI	96819	Honolulu	Industrial	26,000
	32.079	UBS AG	2847 Awaawaloa Street	2847 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.080	UBS AG	2816 Awaawaloa Street	2816 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	43,560
	32.081	UBS AG	2928 Kaihikapu Street - B	2928 Kaihikapu Street - B	Honolulu	HI	96819	Honolulu	Leased Fee	37,852
	32.082	UBS AG	2864 Mokumoa Street	2864 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	39,600
	32.083	UBS AG	770 Mapunapuna Street	770 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.084	UBS AG	151 Puuhale Road	151 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	38,294

 

    

     

    

 

	32.085	UBS AG	207 Puuhale Road	207 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	39,900
	32.086	UBS AG	2970 Mokumoa Street	2970 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,021
	32.087	UBS AG	2868 Kaihikapu Street	2868 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.088	UBS AG	2908 Kaihikapu Street	2908 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.089	UBS AG	2814 Kilihau Street	2814 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	37,413
	32.090	UBS AG	759 Puuloa Road	759 Puuloa Road	Honolulu	HI	96819	Honolulu	Leased Fee	34,313
	32.091	UBS AG	659 Puuloa Road	659 Puuloa Road	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.092	UBS AG	667 Puuloa Road	667 Puuloa Road	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.093	UBS AG	679 Puuloa Road	679 Puuloa Road	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.094	UBS AG	689 Puuloa Road	689 Puuloa Road	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.095	UBS AG	950 Mapunapuna Street	950 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	32,551
	32.096	UBS AG	822 Mapunapuna Street	822 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.097	UBS AG	842 Mapunapuna Street	842 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.098	UBS AG	214 Sand Island Access Road	214 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Industrial	21,600
	32.099	UBS AG	709 Ahua Street	709 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.100	UBS AG	766 Mapunapuna Street	766 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.101	UBS AG	830 Mapunapuna Street	830 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.102	UBS AG	2855 Kaihikapu Street	2855 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.103	UBS AG	865 Ahua Street	865 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,933
	32.104	UBS AG	852 Mapunapuna Street	852 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.105	UBS AG	2906 Kaihikapu Street	2906 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.106	UBS AG	2879 Paa Street	2879 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	31,316
	32.107	UBS AG	702 Ahua Street	702 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,657
	32.108	UBS AG	2864 Awaawaloa Street	2864 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,247
	32.109	UBS AG	2819 Mokumoa Street - A	2819 Mokumoa Street - A	Honolulu	HI	96819	Honolulu	Leased Fee	35,384
	32.110	UBS AG	2869 Mokumoa Street	2869 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,860
	32.111	UBS AG	2819 Mokumoa Street - B	2819 Mokumoa Street - B	Honolulu	HI	96819	Honolulu	Leased Fee	35,279
	32.112	UBS AG	228 Mohonua Place	228 Mohonua Place	Honolulu	HI	96819	Honolulu	Leased Fee	36,522
	32.113	UBS AG	2264 Pahounui Drive	2264 Pahounui Drive	Honolulu	HI	96819	Honolulu	Leased Fee	33,103
	32.114	UBS AG	808 Ahua Street	808 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	56,690
	32.115	UBS AG	2827 Kaihikapu Street	2827 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.116	UBS AG	697 Ahua Street	697 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.117	UBS AG	2849 Kaihikapu Street	2849 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.118	UBS AG	2831 Awaawaloa Street	2831 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.119	UBS AG	2858 Kaihikapu Street	2858 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.120	UBS AG	2276 Pahounui Drive	2276 Pahounui Drive	Honolulu	HI	96819	Honolulu	Leased Fee	32,841
	32.121	UBS AG	2806 Kaihikapu Street	2806 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.122	UBS AG	1052 Ahua Street	1052 Ahua Street	Honolulu	HI	96819	Honolulu	Other	30,000
	32.123	UBS AG	2889 Mokumoa Street	2889 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,651
	32.124	UBS AG	685 Ahua Street	685 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.125	UBS AG	2839 Mokumoa Street	2839 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,174
	32.126	UBS AG	94-240 Pupuole Street	94-240 Pupuole Street	Waipahu	HI	96797	Honolulu	Leased Fee	43,529
	32.127	UBS AG	2928 Kaihikapu Street - A	2928 Kaihikapu Street - A	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.128	UBS AG	719 Ahua Street	719 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.129	UBS AG	2812 Awaawaloa Street	2812 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.130	UBS AG	2927 Mokumoa Street	2927 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,546
	32.131	UBS AG	197 Sand Island Access Road	197 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	31,178
	32.132	UBS AG	2844 Kaihikapu Street	2844 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.133	UBS AG	2879 Mokumoa Street	2879 Mokumoa Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,755
	32.134	UBS AG	2135 Auiki Street	2135 Auiki Street	Honolulu	HI	96819	Honolulu	Leased Fee	33,328
	32.135	UBS AG	855 Ahua Street	855 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,200
	32.136	UBS AG	2122 Kaliawa Street	2122 Kaliawa Street	Honolulu	HI	96819	Honolulu	Leased Fee	33,468
	32.137	UBS AG	2831 Kaihikapu Street	2831 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.138	UBS AG	729 Ahua Street	729 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.139	UBS AG	739 Ahua Street	739 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.140	UBS AG	2833 Paa Street #2	2833 Paa Street #2	Honolulu	HI	96819	Honolulu	Leased Fee	30,000
	32.141	UBS AG	2833 Paa Street	2833 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	30,000
	32.142	UBS AG	2815 Kaihikapu Street	2815 Kaihikapu Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.143	UBS AG	1062 Kikowaena Place	1062 Kikowaena Place	Honolulu	HI	96819	Honolulu	Leased Fee	30,959
	32.144	UBS AG	673 Ahua Street	673 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.145	UBS AG	2106 Kaliawa Street	2106 Kaliawa Street	Honolulu	HI	96819	Honolulu	Leased Fee	30,709
	32.146	UBS AG	812 Mapunapuna Street	812 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.147	UBS AG	2804 Kilihau Street	2804 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,494
	32.148	UBS AG	525 North King Street	525 North King Street	Honolulu	HI	96819	Honolulu	Leased Fee	20,934
	32.149	UBS AG	204 Sand Island Access Road	204 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	33,078
	32.150	UBS AG	660 Ahua Street	660 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	34,657
	32.151	UBS AG	218 Mohonua Place	218 Mohonua Place	Honolulu	HI	96819	Honolulu	Leased Fee	34,096
	32.152	UBS AG	125 Puuhale Road	125 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	31,006
	32.153	UBS AG	645 Ahua Street	645 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.154	UBS AG	675 Mapunapuna Street	675 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	30,063
	32.155	UBS AG	659 Ahua Street	659 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	35,000
	32.156	UBS AG	1055 Ahua Street	1055 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	26,531
	32.157	UBS AG	944 Ahua Street	944 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	26,596
	32.158	UBS AG	2019 Kahai Street	2019 Kahai Street	Honolulu	HI	96819	Honolulu	Leased Fee	26,954
	32.159	UBS AG	2001 Kahai Street	2001 Kahai Street	Honolulu	HI	96819	Honolulu	Leased Fee	26,741
	32.160	UBS AG	106 Puuhale Road	106 Puuhale Road	Honolulu	HI	96819	Honolulu	Industrial	14,223
	32.161	UBS AG	2875 Paa Street	2875 Paa Street	Honolulu	HI	96819	Honolulu	Leased Fee	23,154
	32.162	UBS AG	1024 Mapunapuna Street	1024 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	25,895
	32.163	UBS AG	2760 Kamehameha Highway	2760 Kamehameha Highway	Honolulu	HI	96819	Honolulu	Leased Fee	28,615
	32.164	UBS AG	2635 Waiwai Loop A	2635 Waiwai Loop A	Honolulu	HI	96819	Honolulu	Leased Fee	22,500
	32.165	UBS AG	2635 Waiwai Loop B	2635 Waiwai Loop B	Honolulu	HI	96819	Honolulu	Leased Fee	22,459
	32.166	UBS AG	2836 Awaawaloa Street	2836 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	26,440

 

    

     

    

 

	32.167	UBS AG	609 Ahua Street	609 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	24,440
	32.168	UBS AG	905 Ahua Street	905 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	21,195
	32.169	UBS AG	2110 Auiki Street	2110 Auiki Street	Honolulu	HI	96819	Honolulu	Leased Fee	20,436
	32.170	UBS AG	140 Puuhale Road	140 Puuhale Road	Honolulu	HI	96819	Honolulu	Leased Fee	21,541
	32.171	UBS AG	2139 Kaliawa Street	2139 Kaliawa Street	Honolulu	HI	96819	Honolulu	Leased Fee	21,657
	32.172	UBS AG	231 Sand Island Access Road	231 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	18,921
	32.173	UBS AG	2140 Kaliawa Street	2140 Kaliawa Street	Honolulu	HI	96819	Honolulu	Leased Fee	19,269
	32.174	UBS AG	33 South Vineyard Boulevard	33 South Vineyard Boulevard	Honolulu	HI	96813	Honolulu	Leased Fee	11,570
	32.175	UBS AG	970 Ahua Street	970 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	15,037
	32.176	UBS AG	960 Ahua Street	960 Ahua Street	Honolulu	HI	96819	Honolulu	Leased Fee	14,476
	32.177	UBS AG	1045 Mapunapuna Street	1045 Mapunapuna Street	Honolulu	HI	96819	Honolulu	Leased Fee	14,902
	32.178	UBS AG	165 Sand Island Access Road	165 Sand Island Access Road	Honolulu	HI	96819	Honolulu	Leased Fee	15,677
	32.179	UBS AG	2839 Kilihau Street	2839 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	11,680
	32.180	UBS AG	2829 Kilihau Street	2829 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	11,680
	32.181	UBS AG	2833 Kilihau Street	2833 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	11,680
	32.182	UBS AG	2821 Kilihau Street	2821 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	11,680
	32.183	UBS AG	2808 Kam Highway	2808 Kam Highway	Honolulu	HI	96819	Honolulu	Leased Fee	12,620
	32.184	UBS AG	2815 Kilihau Street	2815 Kilihau Street	Honolulu	HI	96819	Honolulu	Leased Fee	11,680
	32.185	UBS AG	2850 Awaawaloa Street	2850 Awaawaloa Street	Honolulu	HI	96819	Honolulu	Leased Fee	8,503
	32.186	UBS AG	846 Ala Lilikoi Street B	846 Ala Lilikoi Street B	Honolulu	HI	96818	Honolulu	Leased Fee	8,101
	33	UBS AG	Southern Motion Industrial Portfolio	Various	Various	MS	Various	Various	Industrial	1,710,330
	33.01	UBS AG	1 Fashion Way	1 Fashion Way	Baldwyn	MS	38824	Lee	Industrial	758,250
	33.02	UBS AG	298 Henry Southern Drive	298 Henry Southern Drive	Pontotoc	MS	38863	Pontotoc	Industrial	360,000
	33.03	UBS AG	957 Pontotoc County Ind Pkwy	957 Industrial Park Road	Ecru	MS	38841	Pontotoc	Industrial	265,080
	33.04	UBS AG	195 Henry Southern Drive	195 Henry Southern Drive	Pontotoc	MS	38863	Pontotoc	Industrial	180,000
	33.05	UBS AG	370 Henry Southern Drive	370 Henry Southern Drive	Pontotoc	MS	38863	Pontotoc	Industrial	78,000
	33.06	UBS AG	161 Prestige Drive	161 Prestige Drive	Pontotoc	MS	38863	Pontotoc	Industrial	69,000
	34	Barclays	Candlewood Suites Indianapolis Downtown Medical District	1152 North White River Parkway	Indianapolis	IN	46222	Marion	Hotel	142
	35	Barclays	Sierra Springs Village	7560 Woodman Place	Van Nuys	CA	91405	Los Angeles	Manufactured Housing	145
	36	SGFC	Christiana Mall	132 Christiana Mall	Newark	DE	19702	New Castle	Retail	779,084
	37	KeyBank	Sangamon Center	1861-1945 East Sangamon Avenue	Springfield	IL	62702	Sangamon	Retail	139,392
	38	RMF	Fairfield Inn & Suites  Dunn	688 Jackson Road	Dunn	NC	28334	Harnett	Hotel	88
	39	UBS AG	Burns Office & Industrial Portfolio	Various	Various	FL	Various	Various	Various	113,193
	39.01	UBS AG	Greentree Professional Center	10621, 10641, 10661 and 10681 Airport Road North	Naples	FL	34109	Collier	Office	32,233
	39.02	UBS AG	Presidential Court	6213-6237 Presidential Court	Fort Myers	FL	33919	Lee	Office	25,039
	39.03	UBS AG	Corporate Court	6313-6314 Corporate Court and 6315 Presidential Court	Fort Myers	FL	33919	Lee	Office	22,997
	39.04	UBS AG	Concorde Business Park	2420 Concorde Drive	Fort Myers	FL	33901	Lee	Industrial	20,924
	39.05	UBS AG	Houchin Business Park	5830-5850 Houchin Street	Naples	FL	34109	Collier	Industrial	12,000
	40	SGFC	North Attleboro Shopping Center	473 East Washington Street	North Attleboro	MA	02760	Bristol	Retail	58,504
	41	Barclays	Hampton Inn - Wausau, WI	615 South 24th Avenue	Wausau	WI	54401	Marathon	Hotel	87
	42	RMF	Townline Self Storage	9 Linehurst Road	Malden 	MA	02148	Middlesex	Self Storage	471
	43	SGFC	Holiday Inn Express Gatesville	2904 South Highway 36	Gatesville	TX	76528	Coryell	Hotel	68
	44	SGFC	Safeway La Grande	2111 Adams Avenue	La Grande	OR	97850	Union	Retail	56,284
	45	SGFC	Town Plaza Leesville 	1710 South 5th Street	Leesville	LA	71446	Vernon	Retail	102,714
	46	SGFC	Best Western Plus Fairburn Atlanta Southwest	1005 Oakley Industrial Boulevard	Fairburn	GA	30213	Fulton	Hotel	74
	47	KeyBank	Hampton Inn - Santa Rosa	2475 Historic Route 66	Santa Rosa	NM	88435	Guadalupe	Hotel	64
	48	SGFC	Best Western Long Beach Inn	500 Ocean Beach Boulevard South	Long Beach	WA	98631	Pacific	Hotel	50
	49	RMF	Baymont Inn & Suites Green Bay	2840 South Oneida Street	Green Bay	WI	54304	Brown	Hotel	76
	50	Natixis	123 Whiting Street	123 Whiting Street	Plainville	CT	06062	Hartford	Industrial	99,709

    

     

    

	Unit of Measure	Original Balance	Current Balance	Amortization Type	Monthly Debt Service	Accrual Type	Interest Rate (%)	Admin. Fee	Net Mortgage Interest Rate	Payment Date	Maturity/ARD Date	Final Mat Date
	Units	57,200,000	57,200,000.00	Interest Only	241,643.52 	Actual/360	5.00000%	0.02224%	4.97776%	1	2/1/2029	2/1/2029
	Units	13,859,031	13,859,030.90	 	 	 	 	 	 	 	 	 
	Units	8,783,386	8,783,385.60	 	 	 	 	 	 	 	 	 
	Units	5,759,597	5,759,597.25	 	 	 	 	 	 	 	 	 
	Units	5,615,607	5,615,607.25	 	 	 	 	 	 	 	 	 
	Units	4,733,669	4,733,668.50	 	 	 	 	 	 	 	 	 
	Units	3,995,721	3,995,720.85	 	 	 	 	 	 	 	 	 
	Units	3,833,732	3,833,732.10	 	 	 	 	 	 	 	 	 
	Units	3,599,748	3,599,748.35	 	 	 	 	 	 	 	 	 
	Units	3,563,751	3,563,750.85	 	 	 	 	 	 	 	 	 
	Units	3,455,758	3,455,758.35	 	 	 	 	 	 	 	 	 
	Square Feet	55,000,000	55,000,000.00	Interest Only	225,843.75 	Actual/360	4.86000%	0.01349%	4.84651%	7	11/7/2028	11/7/2028
	Square Feet	21,976,744	21,976,744.31	 	 	 	 	 	 	 	 	 
	Square Feet	12,674,418	12,674,418.39	 	 	 	 	 	 	 	 	 
	Square Feet	10,174,419	10,174,418.76	 	 	 	 	 	 	 	 	 
	Square Feet	10,174,419	10,174,418.54	 	 	 	 	 	 	 	 	 
	Square Feet	48,750,000	48,750,000.00	Interest Only	184,898.48 	Actual/360	4.48900%	0.01099%	4.47801%	6	5/6/2029	5/6/2029
	Square Feet	8,600,000	8,600,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	8,000,000	8,000,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	6,300,000	6,300,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	5,650,000	5,650,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	5,400,000	5,400,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	3,750,000	3,750,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	2,650,000	2,650,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	2,250,000	2,250,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,750,000	1,750,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,050,000	1,050,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	800,000	800,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	800,000	800,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	500,000	500,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	500,000	500,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	450,000	450,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	300,000	300,000.00	 	 	 	 	 	 	 	 	 
	Rooms	45,000,000	45,000,000.00	Interest Only	188,507.29 	Actual/360	4.95800%	0.01349%	4.94451%	1	5/1/2029	5/1/2029
	Rooms	23,917,500	23,917,500.00	 	 	 	 	 	 	 	 	 
	Rooms	8,325,000	8,325,000.00	 	 	 	 	 	 	 	 	 
	Rooms	6,750,000	6,750,000.00	 	 	 	 	 	 	 	 	 
	Rooms	6,007,500	6,007,500.00	 	 	 	 	 	 	 	 	 
	Rooms	42,275,000	42,275,000.00	Interest Only	173,770.31 	Actual/360	4.86500%	0.02349%	4.84151%	6	4/6/2029	4/6/2029
	Square Feet	41,250,000	41,250,000.00	IO-Balloon	218,799.43 	Actual/360	4.89500%	0.01349%	4.88151%	6	4/6/2029	4/6/2029
	Units	41,000,000	41,000,000.00	IO-Balloon	199,063.86 	Actual/360	4.14000%	0.01349%	4.12651%	6	4/6/2029	4/6/2029
	Units	4,663,028	4,663,028.17	 	 	 	 	 	 	 	 	 
	Units	3,825,704	3,825,704.23	 	 	 	 	 	 	 	 	 
	Units	2,858,451	2,858,450.70	 	 	 	 	 	 	 	 	 
	Units	2,627,465	2,627,464.79	 	 	 	 	 	 	 	 	 
	Units	2,598,592	2,598,591.55	 	 	 	 	 	 	 	 	 
	Units	2,569,718	2,569,718.31	 	 	 	 	 	 	 	 	 
	Units	2,439,789	2,439,788.73	 	 	 	 	 	 	 	 	 
	Units	2,338,732	2,338,732.39	 	 	 	 	 	 	 	 	 
	Units	2,309,859	2,309,859.15	 	 	 	 	 	 	 	 	 
	Units	2,208,803	2,208,802.82	 	 	 	 	 	 	 	 	 
	Units	1,992,254	1,992,253.52	 	 	 	 	 	 	 	 	 
	Units	1,847,887	1,847,887.32	 	 	 	 	 	 	 	 	 
	Units	1,674,648	1,674,647.89	 	 	 	 	 	 	 	 	 
	Units	1,602,465	1,602,464.79	 	 	 	 	 	 	 	 	 
	Units	1,472,535	1,472,535.21	 	 	 	 	 	 	 	 	 
	Units	1,126,056	1,126,056.34	 	 	 	 	 	 	 	 	 
	Units	1,126,056	1,126,056.34	 	 	 	 	 	 	 	 	 
	Units	635,211	635,211.27	 	 	 	 	 	 	 	 	 
	Units	505,282	505,281.69	 	 	 	 	 	 	 	 	 
	Units	317,606	317,605.63	 	 	 	 	 	 	 	 	 
	Units	259,859	259,859.15	 	 	 	 	 	 	 	 	 
	Units	35,000,000	35,000,000.00	Interest Only	131,179.89 	Actual/360	4.43598540291971%	0.01099%	4.42499540291971%	10	2/10/2029	2/10/2029
	Square Feet	30,000,000	30,000,000.00	Interest Only	114,830.95 	Actual/360	4.53031685470085%	0.01099%	4.51932685470085%	8	2/8/2029	2/8/2029
	Square Feet	30,000,000	30,000,000.00	Interest Only	115,786.11 	Actual/360	4.56800%	0.01099%	4.55701%	6	2/6/2024	2/6/2024
	Pads	30,000,000	30,000,000.00	IO-Balloon	159,218.02 	Actual/360	4.90000%	0.01349%	4.88651%	6	4/6/2029	4/6/2029
	Pads	5,490,000	5,490,000.00	 	 	 	 	 	 	 	 	 
	Pads	5,095,424	5,095,423.73	 	 	 	 	 	 	 	 	 
	Pads	4,402,881	4,402,881.36	 	 	 	 	 	 	 	 	 
	Pads	4,306,780	4,306,779.66	 	 	 	 	 	 	 	 	 
	Pads	3,000,508	3,000,508.47	 	 	 	 	 	 	 	 	 
	Pads	2,062,881	2,062,881.36	 	 	 	 	 	 	 	 	 
	Pads	1,817,797	1,817,796.61	 	 	 	 	 	 	 	 	 

 

    

     

    

 

	Pads	1,462,881	1,462,881.36	 	 	 	 	 	 	 	 	 
	Pads	1,189,322	1,189,322.03	 	 	 	 	 	 	 	 	 
	Pads	1,171,525	1,171,525.42	 	 	 	 	 	 	 	 	 
	Rooms	27,000,000	26,970,628.79	Balloon	143,296.21 	Actual/360	4.90000%	0.01349%	4.88651%	6	5/6/2029	5/6/2029
	Square Feet	25,000,000	25,000,000.00	IO-Balloon	128,909.20 	Actual/360	4.65000%	0.01349%	4.63651%	1	4/1/2029	4/1/2029
	Units	24,000,000	24,000,000.00	Interest Only	108,486.11 	Actual/360	5.35000%	0.01349%	5.33651%	6	4/6/2029	4/6/2029
	Units	21,000,000	21,000,000.00	Interest Only	77,182.29 	Actual/360	4.35000%	0.02224%	4.32776%	1	5/1/2029	5/1/2029
	Square Feet	21,000,000	21,000,000.00	Interest Only	83,392.36 	Actual/360	4.70000%	0.01349%	4.68651%	6	5/6/2029	5/6/2029
	Square Feet	20,500,000	20,500,000.00	IO-Balloon	110,048.43 	Actual/360	5.00000%	0.01349%	4.98651%	6	4/6/2029	4/6/2029
	Square Feet	20,000,000	20,000,000.00	Interest Only	77,427.31 	Actual/360	4.58200%	0.01099%	4.57101%	1	4/1/2029	4/1/2029
	Square Feet	4,150,545	4,150,545.45	 	 	 	 	 	 	 	 	 
	Square Feet	2,692,364	2,692,363.64	 	 	 	 	 	 	 	 	 
	Square Feet	1,702,909	1,702,909.09	 	 	 	 	 	 	 	 	 
	Square Feet	1,489,818	1,489,818.18	 	 	 	 	 	 	 	 	 
	Square Feet	1,189,091	1,189,090.91	 	 	 	 	 	 	 	 	 
	Square Feet	1,173,455	1,173,454.55	 	 	 	 	 	 	 	 	 
	Square Feet	1,060,000	1,060,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,020,727	1,020,727.27	 	 	 	 	 	 	 	 	 
	Square Feet	987,273	987,272.73	 	 	 	 	 	 	 	 	 
	Square Feet	768,364	768,363.64	 	 	 	 	 	 	 	 	 
	Square Feet	753,818	753,818.18	 	 	 	 	 	 	 	 	 
	Square Feet	565,455	565,454.55	 	 	 	 	 	 	 	 	 
	Square Feet	430,909	430,909.09	 	 	 	 	 	 	 	 	 
	Square Feet	414,909	414,909.09	 	 	 	 	 	 	 	 	 
	Square Feet	371,273	371,272.73	 	 	 	 	 	 	 	 	 
	Square Feet	336,364	336,363.64	 	 	 	 	 	 	 	 	 
	Square Feet	305,091	305,090.91	 	 	 	 	 	 	 	 	 
	Square Feet	296,000	296,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	291,636	291,636.36	 	 	 	 	 	 	 	 	 
	Square Feet	20,000,000	20,000,000.00	IO-Balloon	102,528.87 	Actual/360	4.60000%	0.01349%	4.58651%	6	4/6/2029	4/6/2029
	Square Feet	18,900,000	18,900,000.00	IO-Balloon	99,276.03 	Actual/360	4.81000%	0.02224%	4.78776%	1	5/1/2029	5/1/2029
	Square Feet	17,000,000	17,000,000.00	IO-Balloon	87,653.16 	Actual/360	4.64950%	0.01349%	4.63601%	6	3/6/2029	3/6/2029
	Square Feet	16,000,000	16,000,000.00	Interest Only	66,652.67 	Actual/360	4.91700%	0.03224%	4.88476%	1	5/1/2029	5/1/2029
	Square Feet	13,688,497	13,688,497.26	 	 	 	 	 	 	 	 	 
	Square Feet	985,989	985,989.08	 	 	 	 	 	 	 	 	 
	Square Feet	823,159	823,158.55	 	 	 	 	 	 	 	 	 
	Square Feet	502,355	502,355.11	 	 	 	 	 	 	 	 	 
	Square Feet	15,000,000	15,000,000.00	Interest Only	57,664.93 	Actual/360	4.55000%	0.01099%	4.53901%	1	11/1/2028	11/1/2028
	Square Feet	1,504,016	1,504,015.51	 	 	 	 	 	 	 	 	 
	Square Feet	1,300,748	1,300,747.72	 	 	 	 	 	 	 	 	 
	Square Feet	975,353	975,353.09	 	 	 	 	 	 	 	 	 
	Square Feet	944,337	944,336.75	 	 	 	 	 	 	 	 	 
	Square Feet	892,827	892,827.47	 	 	 	 	 	 	 	 	 
	Square Feet	873,996	873,996.12	 	 	 	 	 	 	 	 	 
	Square Feet	803,656	803,655.50	 	 	 	 	 	 	 	 	 
	Square Feet	791,471	791,470.51	 	 	 	 	 	 	 	 	 
	Square Feet	741,623	741,622.82	 	 	 	 	 	 	 	 	 
	Square Feet	738,300	738,299.64	 	 	 	 	 	 	 	 	 
	Square Feet	686,790	686,790.36	 	 	 	 	 	 	 	 	 
	Square Feet	686,790	686,790.36	 	 	 	 	 	 	 	 	 
	Square Feet	605,372	605,372.47	 	 	 	 	 	 	 	 	 
	Square Feet	509,831	509,831.07	 	 	 	 	 	 	 	 	 
	Square Feet	448,075	448,075.33	 	 	 	 	 	 	 	 	 
	Square Feet	425,090	425,090.00	 	 	 	 	 	 	 	 	 
	Square Feet	291,886	291,885.90	 	 	 	 	 	 	 	 	 
	Square Feet	276,378	276,377.73	 	 	 	 	 	 	 	 	 
	Square Feet	274,716	274,716.15	 	 	 	 	 	 	 	 	 
	Square Feet	266,131	266,131.27	 	 	 	 	 	 	 	 	 
	Square Feet	257,546	257,546.39	 	 	 	 	 	 	 	 	 
	Square Feet	249,792	249,792.30	 	 	 	 	 	 	 	 	 
	Square Feet	236,223	236,222.65	 	 	 	 	 	 	 	 	 
	Square Feet	219,053	219,052.89	 	 	 	 	 	 	 	 	 
	Units	14,745,000	14,727,855.99	Balloon	75,677.56 	Actual/360	4.61000%	0.05349%	4.55651%	1	5/1/2029	5/1/2029
	Square Feet	14,650,000	14,650,000.00	IO-Balloon	77,635.75 	Actual/360	4.88700%	0.01349%	4.87351%	6	3/6/2029	3/6/2029
	Square Feet	8,425,000	8,425,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	6,225,000	6,225,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	14,500,000	14,396,110.85	Balloon	84,158.06 	Actual/360	5.70000%	0.01224%	5.68776%	6	11/6/2028	11/6/2028
	Square Feet	691,963	687,005.54	 	 	 	 	 	 	 	 	 
	Square Feet	239,407	237,691.35	 	 	 	 	 	 	 	 	 
	Square Feet	201,302	199,859.49	 	 	 	 	 	 	 	 	 
	Square Feet	196,418	195,011.07	 	 	 	 	 	 	 	 	 
	Square Feet	185,986	184,653.85	 	 	 	 	 	 	 	 	 
	Square Feet	158,014	156,881.72	 	 	 	 	 	 	 	 	 
	Square Feet	155,187	154,075.07	 	 	 	 	 	 	 	 	 
	Square Feet	147,163	146,108.96	 	 	 	 	 	 	 	 	 
	Square Feet	145,358	144,316.82	 	 	 	 	 	 	 	 	 
	Square Feet	134,842	133,875.86	 	 	 	 	 	 	 	 	 
	Square Feet	132,790	131,838.87	 	 	 	 	 	 	 	 	 
	Square Feet	129,377	128,450.00	 	 	 	 	 	 	 	 	 
	Square Feet	125,347	124,449.39	 	 	 	 	 	 	 	 	 
	Square Feet	123,258	122,374.92	 	 	 	 	 	 	 	 	 
	Square Feet	123,215	122,331.85	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 	 
	Square Feet	122,174	121,299.00	 	 	 	 	 	 	 	 	 
	Square Feet	121,493	120,622.66	 	 	 	 	 	 	 	 	 
	Square Feet	120,392	119,529.19	 	 	 	 	 	 	 	 	 
	Square Feet	120,311	119,448.64	 	 	 	 	 	 	 	 	 
	Square Feet	119,547	118,690.15	 	 	 	 	 	 	 	 	 
	Square Feet	118,484	117,634.97	 	 	 	 	 	 	 	 	 
	Square Feet	115,022	114,197.45	 	 	 	 	 	 	 	 	 
	Square Feet	113,678	112,863.91	 	 	 	 	 	 	 	 	 
	Square Feet	112,089	111,286.32	 	 	 	 	 	 	 	 	 
	Square Feet	111,983	111,181.04	 	 	 	 	 	 	 	 	 
	Square Feet	111,244	110,446.48	 	 	 	 	 	 	 	 	 
	Square Feet	109,169	108,386.36	 	 	 	 	 	 	 	 	 
	Square Feet	108,680	107,901.44	 	 	 	 	 	 	 	 	 
	Square Feet	107,858	107,084.73	 	 	 	 	 	 	 	 	 
	Square Feet	107,358	106,588.65	 	 	 	 	 	 	 	 	 
	Square Feet	106,328	105,566.16	 	 	 	 	 	 	 	 	 
	Square Feet	106,286	105,524.69	 	 	 	 	 	 	 	 	 
	Square Feet	106,209	105,448.12	 	 	 	 	 	 	 	 	 
	Square Feet	106,131	105,370.76	 	 	 	 	 	 	 	 	 
	Square Feet	104,968	104,215.88	 	 	 	 	 	 	 	 	 
	Square Feet	104,569	103,819.49	 	 	 	 	 	 	 	 	 
	Square Feet	103,801	103,057.01	 	 	 	 	 	 	 	 	 
	Square Feet	102,959	102,221.16	 	 	 	 	 	 	 	 	 
	Square Feet	102,944	102,206.01	 	 	 	 	 	 	 	 	 
	Square Feet	102,928	102,190.06	 	 	 	 	 	 	 	 	 
	Square Feet	102,352	101,618.20	 	 	 	 	 	 	 	 	 
	Square Feet	101,866	101,136.47	 	 	 	 	 	 	 	 	 
	Square Feet	101,502	100,774.37	 	 	 	 	 	 	 	 	 
	Square Feet	101,088	100,363.62	 	 	 	 	 	 	 	 	 
	Square Feet	100,990	100,266.32	 	 	 	 	 	 	 	 	 
	Square Feet	99,744	99,029.29	 	 	 	 	 	 	 	 	 
	Square Feet	99,155	98,444.67	 	 	 	 	 	 	 	 	 
	Square Feet	99,100	98,389.64	 	 	 	 	 	 	 	 	 
	Square Feet	98,366	97,661.46	 	 	 	 	 	 	 	 	 
	Square Feet	97,005	96,310.38	 	 	 	 	 	 	 	 	 
	Square Feet	96,839	96,145.28	 	 	 	 	 	 	 	 	 
	Square Feet	96,821	96,127.74	 	 	 	 	 	 	 	 	 
	Square Feet	96,744	96,051.17	 	 	 	 	 	 	 	 	 
	Square Feet	96,628	95,935.52	 	 	 	 	 	 	 	 	 
	Square Feet	95,596	94,910.65	 	 	 	 	 	 	 	 	 
	Square Feet	94,768	94,089.15	 	 	 	 	 	 	 	 	 
	Square Feet	94,555	93,877.80	 	 	 	 	 	 	 	 	 
	Square Feet	94,038	93,364.16	 	 	 	 	 	 	 	 	 
	Square Feet	93,962	93,289.19	 	 	 	 	 	 	 	 	 
	Square Feet	93,225	92,557.02	 	 	 	 	 	 	 	 	 
	Square Feet	93,011	92,344.87	 	 	 	 	 	 	 	 	 
	Square Feet	93,009	92,342.48	 	 	 	 	 	 	 	 	 
	Square Feet	92,957	92,290.64	 	 	 	 	 	 	 	 	 
	Square Feet	91,720	91,062.38	 	 	 	 	 	 	 	 	 
	Square Feet	91,545	90,889.31	 	 	 	 	 	 	 	 	 
	Square Feet	91,159	90,505.68	 	 	 	 	 	 	 	 	 
	Square Feet	90,930	90,278.37	 	 	 	 	 	 	 	 	 
	Square Feet	90,845	90,193.83	 	 	 	 	 	 	 	 	 
	Square Feet	90,582	89,933.02	 	 	 	 	 	 	 	 	 
	Square Feet	90,365	89,717.68	 	 	 	 	 	 	 	 	 
	Square Feet	90,114	89,468.84	 	 	 	 	 	 	 	 	 
	Square Feet	89,741	89,097.97	 	 	 	 	 	 	 	 	 
	Square Feet	89,254	88,614.64	 	 	 	 	 	 	 	 	 
	Square Feet	89,128	88,489.42	 	 	 	 	 	 	 	 	 
	Square Feet	88,965	88,327.52	 	 	 	 	 	 	 	 	 
	Square Feet	88,240	87,608.11	 	 	 	 	 	 	 	 	 
	Square Feet	87,635	87,007.54	 	 	 	 	 	 	 	 	 
	Square Feet	86,527	85,906.90	 	 	 	 	 	 	 	 	 
	Square Feet	86,352	85,733.03	 	 	 	 	 	 	 	 	 
	Square Feet	85,687	85,073.44	 	 	 	 	 	 	 	 	 
	Square Feet	85,464	84,851.71	 	 	 	 	 	 	 	 	 
	Square Feet	85,393	84,780.73	 	 	 	 	 	 	 	 	 
	Square Feet	85,370	84,758.40	 	 	 	 	 	 	 	 	 
	Square Feet	85,269	84,657.91	 	 	 	 	 	 	 	 	 
	Square Feet	85,232	84,621.22	 	 	 	 	 	 	 	 	 
	Square Feet	84,768	84,160.22	 	 	 	 	 	 	 	 	 
	Square Feet	84,346	83,741.50	 	 	 	 	 	 	 	 	 
	Square Feet	83,330	82,732.57	 	 	 	 	 	 	 	 	 
	Square Feet	83,250	82,653.62	 	 	 	 	 	 	 	 	 
	Square Feet	82,630	82,037.89	 	 	 	 	 	 	 	 	 
	Square Feet	82,494	81,903.10	 	 	 	 	 	 	 	 	 
	Square Feet	82,473	81,882.37	 	 	 	 	 	 	 	 	 
	Square Feet	80,626	80,048.76	 	 	 	 	 	 	 	 	 
	Square Feet	80,148	79,574.20	 	 	 	 	 	 	 	 	 
	Square Feet	79,442	78,873.14	 	 	 	 	 	 	 	 	 
	Square Feet	79,288	78,720.01	 	 	 	 	 	 	 	 	 
	Square Feet	78,129	77,569.12	 	 	 	 	 	 	 	 	 

 

    

     

    

 

	 	 	 	 	 	 	 	 	 	 	 	 
	Square Feet	76,672	76,123.12	 	 	 	 	 	 	 	 	 
	Square Feet	74,227	73,695.33	 	 	 	 	 	 	 	 	 
	Square Feet	72,671	72,150.44	 	 	 	 	 	 	 	 	 
	Square Feet	72,293	71,774.78	 	 	 	 	 	 	 	 	 
	Square Feet	72,155	71,638.40	 	 	 	 	 	 	 	 	 
	Square Feet	72,031	71,514.77	 	 	 	 	 	 	 	 	 
	Square Feet	71,973	71,457.35	 	 	 	 	 	 	 	 	 
	Square Feet	71,947	71,431.03	 	 	 	 	 	 	 	 	 
	Square Feet	71,457	70,945.31	 	 	 	 	 	 	 	 	 
	Square Feet	70,417	69,912.46	 	 	 	 	 	 	 	 	 
	Square Feet	69,888	69,386.86	 	 	 	 	 	 	 	 	 
	Square Feet	69,174	68,678.62	 	 	 	 	 	 	 	 	 
	Square Feet	69,149	68,653.90	 	 	 	 	 	 	 	 	 
	Square Feet	67,966	67,479.08	 	 	 	 	 	 	 	 	 
	Square Feet	67,177	66,695.87	 	 	 	 	 	 	 	 	 
	Square Feet	65,414	64,945.20	 	 	 	 	 	 	 	 	 
	Square Feet	65,241	64,773.73	 	 	 	 	 	 	 	 	 
	Square Feet	63,896	63,438.60	 	 	 	 	 	 	 	 	 
	Square Feet	62,896	62,445.62	 	 	 	 	 	 	 	 	 
	Square Feet	61,592	61,151.17	 	 	 	 	 	 	 	 	 
	Square Feet	60,984	60,546.61	 	 	 	 	 	 	 	 	 
	Square Feet	60,390	59,957.21	 	 	 	 	 	 	 	 	 
	Square Feet	59,563	59,136.51	 	 	 	 	 	 	 	 	 
	Square Feet	58,482	58,062.98	 	 	 	 	 	 	 	 	 
	Square Feet	58,338	57,920.22	 	 	 	 	 	 	 	 	 
	Square Feet	57,363	56,951.97	 	 	 	 	 	 	 	 	 
	Square Feet	56,397	55,993.29	 	 	 	 	 	 	 	 	 
	Square Feet	56,393	55,989.31	 	 	 	 	 	 	 	 	 
	Square Feet	55,821	55,420.64	 	 	 	 	 	 	 	 	 
	Square Feet	55,670	55,271.49	 	 	 	 	 	 	 	 	 
	Square Feet	55,637	55,238.00	 	 	 	 	 	 	 	 	 
	Square Feet	55,501	55,103.21	 	 	 	 	 	 	 	 	 
	Square Feet	55,004	54,610.31	 	 	 	 	 	 	 	 	 
	Square Feet	54,990	54,595.95	 	 	 	 	 	 	 	 	 
	Square Feet	54,375	53,985.81	 	 	 	 	 	 	 	 	 
	Square Feet	54,250	53,861.39	 	 	 	 	 	 	 	 	 
	Square Feet	53,932	53,545.56	 	 	 	 	 	 	 	 	 
	Square Feet	52,101	51,727.90	 	 	 	 	 	 	 	 	 
	Square Feet	50,254	49,894.29	 	 	 	 	 	 	 	 	 
	Square Feet	50,111	49,752.32	 	 	 	 	 	 	 	 	 
	Square Feet	50,110	49,750.73	 	 	 	 	 	 	 	 	 
	Square Feet	49,866	49,509.06	 	 	 	 	 	 	 	 	 
	Square Feet	48,538	48,190.68	 	 	 	 	 	 	 	 	 
	Square Feet	48,381	48,034.36	 	 	 	 	 	 	 	 	 
	Square Feet	47,972	47,628.40	 	 	 	 	 	 	 	 	 
	Square Feet	46,881	46,545.30	 	 	 	 	 	 	 	 	 
	Square Feet	44,572	44,253.09	 	 	 	 	 	 	 	 	 
	Square Feet	44,286	43,968.35	 	 	 	 	 	 	 	 	 
	Square Feet	44,211	43,894.18	 	 	 	 	 	 	 	 	 
	Square Feet	42,647	42,341.31	 	 	 	 	 	 	 	 	 
	Square Feet	41,014	40,719.86	 	 	 	 	 	 	 	 	 
	Square Feet	40,428	40,138.43	 	 	 	 	 	 	 	 	 
	Square Feet	40,037	39,750.01	 	 	 	 	 	 	 	 	 
	Square Feet	39,766	39,481.23	 	 	 	 	 	 	 	 	 
	Square Feet	38,801	38,522.56	 	 	 	 	 	 	 	 	 
	Square Feet	37,909	37,637.26	 	 	 	 	 	 	 	 	 
	Square Feet	37,904	37,632.47	 	 	 	 	 	 	 	 	 
	Square Feet	35,601	35,345.84	 	 	 	 	 	 	 	 	 
	Square Feet	35,493	35,238.97	 	 	 	 	 	 	 	 	 
	Square Feet	31,682	31,454.51	 	 	 	 	 	 	 	 	 
	Square Feet	31,502	31,275.85	 	 	 	 	 	 	 	 	 
	Square Feet	31,441	31,215.24	 	 	 	 	 	 	 	 	 
	Square Feet	31,052	30,830.01	 	 	 	 	 	 	 	 	 
	Square Feet	31,014	30,791.73	 	 	 	 	 	 	 	 	 
	Square Feet	29,696	29,482.92	 	 	 	 	 	 	 	 	 
	Square Feet	29,287	29,076.95	 	 	 	 	 	 	 	 	 
	Square Feet	27,597	27,398.87	 	 	 	 	 	 	 	 	 
	Square Feet	27,554	27,356.60	 	 	 	 	 	 	 	 	 
	Square Feet	27,490	27,292.79	 	 	 	 	 	 	 	 	 
	Square Feet	27,371	27,174.75	 	 	 	 	 	 	 	 	 
	Square Feet	22,231	22,071.91	 	 	 	 	 	 	 	 	 
	Square Feet	17,879	17,750.68	 	 	 	 	 	 	 	 	 
	Square Feet	14,040,000	14,040,000.00	IO-Balloon	73,663.02 	Actual/360	4.80000%	0.05349%	4.74651%	1	2/1/2029	2/1/2029
	Rooms	13,570,000	13,570,000.00	IO-Balloon	72,267.26 	Actual/360	4.93000%	0.01349%	4.91651%	6	3/6/2029	3/6/2029
	Square Feet	11,732,500	11,732,500.00	IO-Balloon	63,197.88 	Actual/360	5.03000%	0.02224%	5.00776%	1	11/1/2028	11/1/2028
	Rooms	11,200,000	11,188,070.19	Balloon	60,055.59 	Actual/360	4.99000%	0.01349%	4.97651%	1	5/1/2029	5/1/2029
	Square Feet	10,415,000	10,415,000.00	IO-Balloon	55,782.74 	Actual/360	4.98000%	0.01349%	4.96651%	6	4/6/2029	4/6/2029
	Square Feet	5,931,722	5,931,721.85	 	 	 	 	 	 	 	 	 
	Square Feet	4,483,278	4,483,278.15	 	 	 	 	 	 	 	 	 
	Square Feet	10,000,000	10,000,000.00	Interest Only	36,415.51 	Actual/360	4.31000%	0.01099%	4.29901%	7	2/7/2029	2/7/2029
	Square Feet	481,886	481,885.77	 	 	 	 	 	 	 	 	 
	Square Feet	291,728	291,727.50	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 	 
	Square Feet	259,916	259,916.32	 	 	 	 	 	 	 	 	 
	Square Feet	254,059	254,058.57	 	 	 	 	 	 	 	 	 
	Square Feet	242,086	242,085.95	 	 	 	 	 	 	 	 	 
	Square Feet	240,731	240,730.95	 	 	 	 	 	 	 	 	 
	Square Feet	187,608	187,608.10	 	 	 	 	 	 	 	 	 
	Square Feet	160,918	160,918.12	 	 	 	 	 	 	 	 	 
	Square Feet	133,999	133,998.83	 	 	 	 	 	 	 	 	 
	Square Feet	129,976	129,975.53	 	 	 	 	 	 	 	 	 
	Square Feet	129,962	129,961.64	 	 	 	 	 	 	 	 	 
	Square Feet	125,077	125,076.70	 	 	 	 	 	 	 	 	 
	Square Feet	121,929	121,928.93	 	 	 	 	 	 	 	 	 
	Square Feet	110,846	110,845.75	 	 	 	 	 	 	 	 	 
	Square Feet	107,677	107,677.14	 	 	 	 	 	 	 	 	 
	Square Feet	104,231	104,230.58	 	 	 	 	 	 	 	 	 
	Square Feet	101,430	101,430.25	 	 	 	 	 	 	 	 	 
	Square Feet	95,579	95,579.44	 	 	 	 	 	 	 	 	 
	Square Feet	82,273	82,272.67	 	 	 	 	 	 	 	 	 
	Square Feet	78,076	78,075.65	 	 	 	 	 	 	 	 	 
	Square Feet	75,956	75,956.30	 	 	 	 	 	 	 	 	 
	Square Feet	75,470	75,469.89	 	 	 	 	 	 	 	 	 
	Square Feet	73,774	73,774.40	 	 	 	 	 	 	 	 	 
	Square Feet	72,538	72,537.54	 	 	 	 	 	 	 	 	 
	Square Feet	72,336	72,336.02	 	 	 	 	 	 	 	 	 
	Square Feet	72,044	72,044.18	 	 	 	 	 	 	 	 	 
	Square Feet	71,467	71,467.43	 	 	 	 	 	 	 	 	 
	Square Feet	71,224	71,224.23	 	 	 	 	 	 	 	 	 
	Square Feet	69,216	69,216.05	 	 	 	 	 	 	 	 	 
	Square Feet	68,208	68,208.49	 	 	 	 	 	 	 	 	 
	Square Feet	67,687	67,687.34	 	 	 	 	 	 	 	 	 
	Square Feet	67,444	67,444.13	 	 	 	 	 	 	 	 	 
	Square Feet	65,832	65,832.03	 	 	 	 	 	 	 	 	 
	Square Feet	64,991	64,991.24	 	 	 	 	 	 	 	 	 
	Square Feet	64,831	64,831.42	 	 	 	 	 	 	 	 	 
	Square Feet	64,276	64,275.52	 	 	 	 	 	 	 	 	 
	Square Feet	63,713	63,712.68	 	 	 	 	 	 	 	 	 
	Square Feet	63,254	63,254.06	 	 	 	 	 	 	 	 	 
	Square Feet	62,851	62,851.04	 	 	 	 	 	 	 	 	 
	Square Feet	61,600	61,600.27	 	 	 	 	 	 	 	 	 
	Square Feet	59,196	59,196.02	 	 	 	 	 	 	 	 	 
	Square Feet	57,584	57,583.92	 	 	 	 	 	 	 	 	 
	Square Feet	57,431	57,431.05	 	 	 	 	 	 	 	 	 
	Square Feet	57,118	57,118.36	 	 	 	 	 	 	 	 	 
	Square Feet	56,882	56,882.10	 	 	 	 	 	 	 	 	 
	Square Feet	55,590	55,589.64	 	 	 	 	 	 	 	 	 
	Square Feet	54,811	54,811.39	 	 	 	 	 	 	 	 	 
	Square Feet	54,332	54,331.93	 	 	 	 	 	 	 	 	 
	Square Feet	53,707	53,706.54	 	 	 	 	 	 	 	 	 
	Square Feet	51,525	51,524.65	 	 	 	 	 	 	 	 	 
	Square Feet	51,379	51,378.73	 	 	 	 	 	 	 	 	 
	Square Feet	51,177	51,177.21	 	 	 	 	 	 	 	 	 
	Square Feet	51,142	51,142.47	 	 	 	 	 	 	 	 	 
	Square Feet	50,941	50,940.96	 	 	 	 	 	 	 	 	 
	Square Feet	47,390	47,390.17	 	 	 	 	 	 	 	 	 
	Square Feet	47,342	47,341.53	 	 	 	 	 	 	 	 	 
	Square Feet	45,993	45,993.48	 	 	 	 	 	 	 	 	 
	Square Feet	45,528	45,527.92	 	 	 	 	 	 	 	 	 
	Square Feet	45,438	45,437.58	 	 	 	 	 	 	 	 	 
	Square Feet	45,438	45,437.58	 	 	 	 	 	 	 	 	 
	Square Feet	45,111	45,111.00	 	 	 	 	 	 	 	 	 
	Square Feet	44,805	44,805.25	 	 	 	 	 	 	 	 	 
	Square Feet	44,388	44,388.33	 	 	 	 	 	 	 	 	 
	Square Feet	44,027	44,027.00	 	 	 	 	 	 	 	 	 
	Square Feet	43,756	43,756.00	 	 	 	 	 	 	 	 	 
	Square Feet	43,193	43,193.15	 	 	 	 	 	 	 	 	 
	Square Feet	43,158	43,158.41	 	 	 	 	 	 	 	 	 
	Square Feet	43,117	43,116.72	 	 	 	 	 	 	 	 	 
	Square Feet	43,047	43,047.23	 	 	 	 	 	 	 	 	 
	Square Feet	42,957	42,956.90	 	 	 	 	 	 	 	 	 
	Square Feet	42,644	42,644.20	 	 	 	 	 	 	 	 	 
	Square Feet	42,234	42,234.23	 	 	 	 	 	 	 	 	 
	Square Feet	42,067	42,067.46	 	 	 	 	 	 	 	 	 
	Square Feet	41,234	41,233.62	 	 	 	 	 	 	 	 	 
	Square Feet	40,761	40,761.11	 	 	 	 	 	 	 	 	 
	Square Feet	40,289	40,288.59	 	 	 	 	 	 	 	 	 
	Square Feet	40,198	40,198.26	 	 	 	 	 	 	 	 	 
	Square Feet	39,608	39,607.62	 	 	 	 	 	 	 	 	 
	Square Feet	39,246	39,246.29	 	 	 	 	 	 	 	 	 
	Square Feet	39,045	39,044.78	 	 	 	 	 	 	 	 	 
	Square Feet	39,017	39,016.98	 	 	 	 	 	 	 	 	 
	Square Feet	38,982	38,982.24	 	 	 	 	 	 	 	 	 
	Square Feet	38,941	38,940.54	 	 	 	 	 	 	 	 	 
	Square Feet	38,690	38,690.39	 	 	 	 	 	 	 	 	 

 

    

     

    

 

	 	 	 	 	 	 	 	 	 	 	 	 
	Square Feet	38,683	38,683.44	 	 	 	 	 	 	 	 	 
	Square Feet	38,614	38,613.96	 	 	 	 	 	 	 	 	 
	Square Feet	38,378	38,377.70	 	 	 	 	 	 	 	 	 
	Square Feet	38,121	38,120.60	 	 	 	 	 	 	 	 	 
	Square Feet	38,065	38,065.01	 	 	 	 	 	 	 	 	 
	Square Feet	37,857	37,856.55	 	 	 	 	 	 	 	 	 
	Square Feet	37,850	37,849.60	 	 	 	 	 	 	 	 	 
	Square Feet	37,850	37,849.60	 	 	 	 	 	 	 	 	 
	Square Feet	37,850	37,849.60	 	 	 	 	 	 	 	 	 
	Square Feet	37,850	37,849.60	 	 	 	 	 	 	 	 	 
	Square Feet	37,794	37,794.01	 	 	 	 	 	 	 	 	 
	Square Feet	37,613	37,613.34	 	 	 	 	 	 	 	 	 
	Square Feet	37,613	37,613.34	 	 	 	 	 	 	 	 	 
	Square Feet	37,523	37,523.01	 	 	 	 	 	 	 	 	 
	Square Feet	37,516	37,516.06	 	 	 	 	 	 	 	 	 
	Square Feet	37,203	37,203.37	 	 	 	 	 	 	 	 	 
	Square Feet	37,196	37,196.42	 	 	 	 	 	 	 	 	 
	Square Feet	37,064	37,064.39	 	 	 	 	 	 	 	 	 
	Square Feet	36,960	36,960.16	 	 	 	 	 	 	 	 	 
	Square Feet	36,946	36,946.27	 	 	 	 	 	 	 	 	 
	Square Feet	36,786	36,786.45	 	 	 	 	 	 	 	 	 
	Square Feet	36,606	36,605.78	 	 	 	 	 	 	 	 	 
	Square Feet	36,515	36,515.45	 	 	 	 	 	 	 	 	 
	Square Feet	36,300	36,300.04	 	 	 	 	 	 	 	 	 
	Square Feet	35,939	35,938.70	 	 	 	 	 	 	 	 	 
	Square Feet	35,876	35,876.17	 	 	 	 	 	 	 	 	 
	Square Feet	35,828	35,827.52	 	 	 	 	 	 	 	 	 
	Square Feet	35,779	35,778.88	 	 	 	 	 	 	 	 	 
	Square Feet	35,682	35,681.60	 	 	 	 	 	 	 	 	 
	Square Feet	35,633	35,632.96	 	 	 	 	 	 	 	 	 
	Square Feet	35,626	35,626.01	 	 	 	 	 	 	 	 	 
	Square Feet	35,598	35,598.22	 	 	 	 	 	 	 	 	 
	Square Feet	35,543	35,542.63	 	 	 	 	 	 	 	 	 
	Square Feet	35,431	35,431.45	 	 	 	 	 	 	 	 	 
	Square Feet	35,404	35,403.65	 	 	 	 	 	 	 	 	 
	Square Feet	35,404	35,403.65	 	 	 	 	 	 	 	 	 
	Square Feet	35,369	35,368.91	 	 	 	 	 	 	 	 	 
	Square Feet	35,286	35,285.53	 	 	 	 	 	 	 	 	 
	Square Feet	35,181	35,181.30	 	 	 	 	 	 	 	 	 
	Square Feet	35,112	35,111.81	 	 	 	 	 	 	 	 	 
	Square Feet	34,980	34,979.78	 	 	 	 	 	 	 	 	 
	Square Feet	34,973	34,972.83	 	 	 	 	 	 	 	 	 
	Square Feet	34,910	34,910.30	 	 	 	 	 	 	 	 	 
	Square Feet	34,848	34,847.76	 	 	 	 	 	 	 	 	 
	Square Feet	34,841	34,840.81	 	 	 	 	 	 	 	 	 
	Square Feet	34,834	34,833.86	 	 	 	 	 	 	 	 	 
	Square Feet	34,799	34,799.12	 	 	 	 	 	 	 	 	 
	Square Feet	34,667	34,667.09	 	 	 	 	 	 	 	 	 
	Square Feet	34,556	34,555.91	 	 	 	 	 	 	 	 	 
	Square Feet	34,479	34,479.48	 	 	 	 	 	 	 	 	 
	Square Feet	34,410	34,409.99	 	 	 	 	 	 	 	 	 
	Square Feet	34,403	34,403.04	 	 	 	 	 	 	 	 	 
	Square Feet	34,368	34,368.30	 	 	 	 	 	 	 	 	 
	Square Feet	34,341	34,340.50	 	 	 	 	 	 	 	 	 
	Square Feet	34,341	34,340.50	 	 	 	 	 	 	 	 	 
	Square Feet	33,583	33,583.09	 	 	 	 	 	 	 	 	 
	Square Feet	33,583	33,583.09	 	 	 	 	 	 	 	 	 
	Square Feet	32,853	32,853.48	 	 	 	 	 	 	 	 	 
	Square Feet	32,812	32,811.79	 	 	 	 	 	 	 	 	 
	Square Feet	32,582	32,582.48	 	 	 	 	 	 	 	 	 
	Square Feet	32,471	32,471.30	 	 	 	 	 	 	 	 	 
	Square Feet	32,430	32,429.61	 	 	 	 	 	 	 	 	 
	Square Feet	32,124	32,123.86	 	 	 	 	 	 	 	 	 
	Square Feet	32,110	32,109.97	 	 	 	 	 	 	 	 	 
	Square Feet	32,040	32,040.48	 	 	 	 	 	 	 	 	 
	Square Feet	32,034	32,033.53	 	 	 	 	 	 	 	 	 
	Square Feet	31,943	31,943.20	 	 	 	 	 	 	 	 	 
	Square Feet	31,568	31,567.97	 	 	 	 	 	 	 	 	 
	Square Feet	31,026	31,025.97	 	 	 	 	 	 	 	 	 
	Square Feet	30,991	30,991.23	 	 	 	 	 	 	 	 	 
	Square Feet	30,929	30,928.69	 	 	 	 	 	 	 	 	 
	Square Feet	30,143	30,143.48	 	 	 	 	 	 	 	 	 
	Square Feet	29,859	29,858.59	 	 	 	 	 	 	 	 	 
	Square Feet	28,406	28,406.31	 	 	 	 	 	 	 	 	 
	Square Feet	27,308	27,308.41	 	 	 	 	 	 	 	 	 
	Square Feet	27,100	27,099.95	 	 	 	 	 	 	 	 	 
	Square Feet	26,627	26,627.44	 	 	 	 	 	 	 	 	 
	Square Feet	26,287	26,286.95	 	 	 	 	 	 	 	 	 
	Square Feet	25,759	25,758.85	 	 	 	 	 	 	 	 	 
	Square Feet	25,217	25,216.85	 	 	 	 	 	 	 	 	 
	Square Feet	25,175	25,175.16	 	 	 	 	 	 	 	 	 
	Square Feet	24,876	24,876.37	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 	 
	Square Feet	24,369	24,369.11	 	 	 	 	 	 	 	 	 
	Square Feet	23,931	23,931.34	 	 	 	 	 	 	 	 	 
	Square Feet	23,653	23,653.39	 	 	 	 	 	 	 	 	 
	Square Feet	22,875	22,875.14	 	 	 	 	 	 	 	 	 
	Square Feet	22,639	22,638.88	 	 	 	 	 	 	 	 	 
	Square Feet	22,055	22,055.19	 	 	 	 	 	 	 	 	 
	Square Feet	20,297	20,297.17	 	 	 	 	 	 	 	 	 
	Square Feet	19,908	19,908.04	 	 	 	 	 	 	 	 	 
	Square Feet	18,588	18,587.79	 	 	 	 	 	 	 	 	 
	Square Feet	17,386	17,385.66	 	 	 	 	 	 	 	 	 
	Square Feet	16,065	16,065.41	 	 	 	 	 	 	 	 	 
	Square Feet	15,468	15,467.82	 	 	 	 	 	 	 	 	 
	Square Feet	14,912	14,911.92	 	 	 	 	 	 	 	 	 
	Square Feet	14,877	14,877.18	 	 	 	 	 	 	 	 	 
	Square Feet	14,829	14,828.54	 	 	 	 	 	 	 	 	 
	Square Feet	14,280	14,279.59	 	 	 	 	 	 	 	 	 
	Square Feet	14,085	14,085.03	 	 	 	 	 	 	 	 	 
	Square Feet	13,112	13,112.21	 	 	 	 	 	 	 	 	 
	Square Feet	10,166	10,165.96	 	 	 	 	 	 	 	 	 
	Square Feet	6,316	6,316.37	 	 	 	 	 	 	 	 	 
	Square Feet	10,000,000	10,000,000.00	IO-Balloon	52,466.54 	Actual/360	4.80000%	0.01099%	4.78901%	6	4/6/2029	4/6/2029
	Square Feet	4,465,711	4,465,711.03	 	 	 	 	 	 	 	 	 
	Square Feet	2,101,319	2,101,319.43	 	 	 	 	 	 	 	 	 
	Square Feet	1,547,483	1,547,483.30	 	 	 	 	 	 	 	 	 
	Square Feet	1,050,660	1,050,659.72	 	 	 	 	 	 	 	 	 
	Square Feet	443,883	443,883.37	 	 	 	 	 	 	 	 	 
	Square Feet	390,943	390,943.15	 	 	 	 	 	 	 	 	 
	Rooms	10,000,000	9,954,883.73	Balloon	56,028.30 	Actual/360	5.38000%	0.01349%	5.36651%	6	2/6/2029	2/6/2029
	Pads	9,840,000	9,840,000.00	Interest Only	42,816.53 	Actual/360	5.15000%	0.01349%	5.13651%	6	4/6/2029	4/6/2029
	Square Feet	9,704,000	9,704,000.00	Interest Only	35,071.14 	Actual/360	4.27750%	0.01099%	4.26651%	1	8/1/2028	8/1/2028
	Square Feet	8,700,000	8,700,000.00	IO-Balloon	45,383.32 	Actual/360	4.75000%	0.02224%	4.72776%	1	5/1/2029	5/1/2029
	Rooms	8,200,000	8,181,391.06	Balloon	44,019.37 	Actual/360	5.00000%	0.01349%	4.98651%	6	4/6/2029	4/6/2029
	Square Feet	7,700,000	7,700,000.00	IO-Balloon	42,044.02 	Actual/360	5.15000%	0.01349%	5.13651%	6	5/6/2029	5/6/2029
	Square Feet	3,850,000	3,850,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,275,000	1,275,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,195,000	1,195,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	1,050,000	1,050,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	330,000	330,000.00	 	 	 	 	 	 	 	 	 
	Square Feet	7,500,000	7,500,000.00	IO-Balloon	41,554.75 	Actual/360	5.28000%	0.05349%	5.22651%	1	5/1/2029	5/1/2029
	Rooms	6,685,000	6,670,266.63	Balloon	36,460.68 	Actual/360	5.14000%	0.01349%	5.12651%	6	4/6/2029	4/6/2029
	Units	6,650,000	6,650,000.00	IO-Balloon	35,293.33 	Actual/360	4.90000%	0.01349%	4.88651%	6	4/6/2029	4/6/2029
	Rooms	5,700,000	5,674,990.85	Balloon	35,002.99 	Actual/360	5.50000%	0.01349%	5.48651%	1	3/1/2029	3/1/2029
	Square Feet	5,500,000	5,500,000.00	Interest Only	23,467.30 	Actual/360	5.05000%	0.01349%	5.03651%	1	5/1/2029	5/1/2029
	Square Feet	5,475,000	5,468,974.60	Balloon	28,891.13 	Actual/360	4.85000%	0.01349%	4.83651%	1	5/1/2029	5/1/2029
	Rooms	4,750,000	4,742,749.32	Balloon	27,906.58 	Actual/360	5.05000%	0.01349%	5.03651%	1	5/1/2029	5/1/2029
	Rooms	4,500,000	4,493,498.96	Balloon	27,232.29 	Actual/360	5.35000%	0.02224%	5.32776%	1	5/1/2029	5/1/2029
	Rooms	4,500,000	4,481,372.54	Balloon	26,518.62 	Actual/360	5.84000%	0.01349%	5.82651%	1	2/1/2029	2/1/2029
	Rooms	3,200,000	3,195,462.42	Balloon	19,555.36 	Actual/360	5.45000%	0.01349%	5.43651%	6	5/6/2029	5/6/2029
	Square Feet	2,637,500	2,626,786.51	Balloon	15,711.55 	Actual/360	5.94000%	0.01349%	5.92651%	5	2/5/2029	2/5/2029

    

     

    

	ARD Step Up (%)	Term	Rem. Term	Amort. Term	Rem. Amort.	Crossed Loan	Original String	Title Type	Grace Period (Late Payment)	Upfront Eng. Reserve	Upfront RE Tax Reserve
	 	120	116	0	0	No	L(28),Def(88),O(4)	Fee	0	119,623 	316,559 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	113	0	0	No	L(31),Def(86),O(3)	Fee	0	247,551 	419,618 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	119	0	0	No	Grtr1%orYM(116),O(4)	Various	5	0 	0
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Leasehold	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	119	0	0	No	L(25),Def(91),O(4)	Fee	0	97,938 	822,222 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	118	0	0	No	L(26),Def(90),O(4)	Fee	0	297,688 	394,304 
	 	120	118	360	360	No	L(26),Def(89),O(5)	Fee	0	0 	140,006 
	 	120	118	360	360	No	L(23),Grtr1%orYM(93),O(4)	Fee	0	0 	0 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	116	0	0	No	L(28),Def(88),O(4)	Fee	0	0 	2,063,608 
	 	120	116	0	0	No	L(28),DeforGrtr1%orYM(85),O(7)	Fee	0	0 	0
	 	60	56	0	0	No	L(28),Def(27),O(5)	Fee	0	69,163 	502,948 
	 	120	118	360	360	No	L(26),Def(90),O(4)	Fee	0	284,203 	137,321 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	119	360	359	No	L(25),Def(91),O(4)	Fee	0	0 	40,734 
	 	120	118	360	360	No	L(25),Grtr1%orYM(1),DeforGrtr1%orYM(89),O(5)	Fee	5	0 	0
	 	120	118	0	0	No	L(26),Def(90),O(4)	Fee	0	0 	217,875 
	 	120	119	0	0	No	L(25),Def(92),O(3)	Fee	5	0 	64,350 
	 	120	119	0	0	No	L(25),Def(91),O(4)	Fee	0	11,000 	111,041 
	 	120	118	360	360	No	L(26),Def(89),O(5)	Fee	0	17,281 	25,210 
	 	120	118	0	0	No	L(26),Def(90),O(4)	Fee	0	346,601 	38,000 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	118	360	360	No	L(26),Def(90),O(4)	Fee	0	252,250 	263,178 
	 	120	119	360	360	No	L(25),Def(92),O(3)	Fee	0	0 	63,222 
	 	120	117	360	360	No	L(27),Def(89),O(4)	Fee	0	0 	869,163 
	 	120	119	0	0	No	L(25),Def(91),O(4)	Fee	0	0 	0 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	113	0	0	No	L(31),Def(85),O(4)	Fee	0	17,645 	73,329 
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	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	119	360	359	No	L(60),Grtr1%orYM(56),O(4)	Fee	0	438,366 	107,609 
	 	120	117	360	360	No	L(27),Def(89),O(4)	Fee	0	495,647 	59,261 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	113	360	353	No	L(12),Grtr1%orYM(104),O(4)	Fee	0	316,121 	250,000 
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	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
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	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	116	360	360	No	L(60),Grtr1%orYM(56),O(4)	Fee	0	21,300 	18,885 
	 	120	117	360	360	No	L(27),Def(89),O(4)	Fee	0	0 	86,904 
	 	120	113	360	360	No	L(31),Def(86),O(3)	Fee	0	0 	0 
	 	120	119	360	359	No	L(25),Def(91),O(4)	Fee	0	0 	10,705 
	 	120	118	360	360	No	L(26),Def(90),O(4)	Fee	0	0 	0 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	116	0	0	No	L(28),DeforGrtr1%orYM(85),O(7)	Fee	0	0 	0 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 	 
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	 	120	118	360	360	No	L(26),Def(89),O(5)	Fee	0	0 	0 
	 	 	 	 	 	 	 	Fee	 	 	 
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	 	120	116	360	356	No	L(28),Def(88),O(4)	Fee	0	81,240 	57,995 
	 	120	118	0	0	No	L(26),Def(90),O(4)	Fee	0	0 	13,502 
	 	120	110	0	0	No	L(34),Def(79),O(7)	Fee/Leasehold	0	0 	0
	 	120	119	360	360	No	L(25),Def(92),O(3)	Fee	0	86,848 	209,021 
	 	120	118	360	358	No	L(26),Def(90),O(4)	Fee	0	0 	36,183 
	 	120	119	360	360	No	L(25),Def(91),O(4)	Fee	0	25,813 	61,608 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	 	 	 	 	 	 	Fee	 	 	 
	 	120	119	360	360	No	L(25),Def(91),O(4)	Fee	0	0 	7,271 
	 	120	118	360	358	No	L(26),Def(90),O(4)	Fee	0	14,597 	45,272 
	 	120	118	360	360	No	L(26),Def(90),O(4)	Fee	0	14,063 	19,503 
	 	120	117	300	297	No	L(27),Def(89),O(4)	Fee	5	0 	30,985 
	 	120	119	0	0	No	L(25),Def(90),O(5)	Fee	0	0 	0
	 	120	119	360	359	No	L(25),Def(88),O(7)	Fee	0	119,625 	30,338 
	 	120	119	300	299	No	L(25),Def(91),O(4)	Fee	0	0 	35,271 
	 	120	119	300	299	No	L(25),Def(92),O(3)	Fee	0	0 	2,482 
	 	120	116	360	356	No	L(28),Def(88),O(4)	Fee	0	6,840 	12,863 
	 	120	119	300	299	No	L(25),Def(91),O(4)	Fee	0	29,375 	17,594 
	 	120	116	360	356	No	L(28),DeforGrtr1%orYM(89),O(3)	Fee	0	45,773 	10,623 

    

     

    

	Monthly RE Tax Reserve	RE Tax Escrow Cash or LOC	Counterparty of RE Tax Escrow LOC	Upfront Ins. Reserve	Monthly Ins. Reserve	Insurance Escrow Cash or LOC	Counterparty of Insurance Escrow LOC	Upfront CapEx Reserve	Monthly Capex Reserve	CapEx Reserve Cap
	87,322 	Cash	 	0 	Springing	 	 	8,009 	8,009 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	139,873 	Cash	 	123,331 	10,822 	Cash	 	0 	7,108 	255,896 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Springing	 	 	0	Springing	 	 	0 	Springing	2,443,208 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	205,555 	Cash	 	990,844 	82,570 	Cash	 	0 	5% of Gross Revenues	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	78,861 	Cash	 	0 	Springing	 	 	2,346,912 	5% of Gross Revenues	 
	140,006 	Cash	 	0 	Springing	 	 	0 	6,001 	 
	Springing	 	 	0 	Springing	 	 	142,892 	Springing	714,460 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	421,010 	Cash	 	402,392 	57,485 	Cash	 	0 	14,890 	250,000 
	Springing	 	 	0	Springing	 	 	0 	0 	 
	502,948 	Cash	 	0 	Springing	 	 	0 	17,987 	 
	45,774 	Cash	 	0 	Springing	 	 	0 	6,871 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	20,367 	Cash	 	0 	Springing	 	 	0 	4% of Gross Revenues	 
	Springing	 	 	0	Springing	 	 	0 	Springing	 
	34,583 	Cash	 	54,000 	6,429 	Cash	 	0 	1,933 	 
	16,088 	Cash	 	951 	951 	Cash	 	1,293 	1,293 	46,559 
	37,014 	Cash	 	0 	Springing	 	 	0 	1,178 	 
	25,210 	Cash	 	0 	Springing	 	 	0 	2,831 	 
	9,535 	Cash	 	0	Springing	 	 	0 	2,047 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	37,597 	Cash	 	3,738 	3,738 	Cash	 	0 	5,364 	 
	12,644 	Cash	 	8,133 	4,067 	Cash	 	250,000 	1,802 	 
	131,691 	Cash	 	106,374 	11,081 	Cash	 	0 	2,953 	 
	Springing	 	 	0 	Springing	 	 	0 	Springing	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	14,411 	Cash	 	0	Springing	 	 	468,128 	1,803 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	15,373 	Cash	 	32,749 	2,729 	Cash	 	3,000 	3,000 	 
	29,631 	Cash	 	0 	Springing	 	 	479,353 	2,814 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Springing	Cash	 	384,109 	Springing	Cash	 	0 	16,042 	32,083 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

 

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	18,885 	Cash	 	2,649 	2,649 	Cash	 	1,880 	1,880 	 
	17,381 	Cash	 	0 	Springing	 	 	0 	4% of Gross Revenues	 
	Springing	 	 	0 	Springing	 	 	1,889 	1,889 	 
	7,740 	Cash	 	0	Springing 	 	 	0 	4.0% of Gross Revenues	 
	13,224 	 	 	0 	Springing	 	 	0 	437 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Springing	 	 	0 	Springing	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Springing	 	 	0 	Springing	 	 	0 	Springing	625,350 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	14,499 	Cash	 	0 	Springing	 	 	0 	4% of Gross Revenues	250,000 
	4,501 	Cash	 	2,522 	841 	Cash	 	0 	604 	 
	Springing	 	 	0	Springing	 	 	0 	Springing	241,565 
	23,225 	Cash	 	0 	Springing	 	 	2,322 	2,322 	 
	8,615 	Cash	 	6,210 	1,479 	Cash	 	0 	1/12 of 2% of Gross Income from Operations	500,000 
	7,701 	Cash	 	37,559 	10,761 	Cash	 	0 	2,991 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	7,271 	Cash	 	17,014 	4,254 	Cash	 	0 	731 	 
	11,318 	Cash	 	3,069 	3,069 	Cash	 	0 	4% of Gross Revenues 	 
	9,287 	Cash	 	3,061 	292 	Cash	 	0 	741 	 
	10,328 	Cash	 	29,759 	2,480 	Cash	 	0 	1% of Gross Revenue	 
	Springing	 	 	19,299 	Springing	Cash	 	0 	Springing	 
	5,056 	Cash	 	48,410 	4,034 	Cash	 	0 	1,712 	 
	4,543 	Cash	 	18,467 	1,578 	Cash	 	0 	4% of Gross Revenue	 
	2,482 	Cash	 	31,086 	3,886 	Cash	 	6,333 	4% of Gross Revenues 	 
	2,573 	Cash	 	885 	885 	Cash	 	0 	4% of Gross Revenues	 
	3,351 	Cash	 	1,762 	1,678 	Cash	 	0 	1/12 of 4% of Gross Income from Operations	 
	5,311 	Cash	 	10,155 	2,539 	Cash	 	0 	4,224 	 

    

     

    

	Capex Escrow Cash or LOC	Counterparty of Capex Escrow LOC	Upfront TI/LC Reserve	Monthly TI/LC Reserve	TI/LC Reserve Cap	TI/LC Reserve Cash or LOC	Counterparty of TI/LC Escrow LOC	Upfront Debt Service Reserve	Monthly Debt Service Reserve	Debt Service Reserve Cash or LOC
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	Springing	6,108,020 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	1,900,000 	45,006 	3,000,000 	Cash	 	0 	0 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	24,775,711 	Springing	 	Cash	 	0 	0 	 
	 	 	4,000,000 	89,933 	6,000,000 	Cash	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	Springing	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	700,000 	Springing	700,000 	Cash	 	84,992 	0 	Cash
	 	 	0 	17,696 	 	 	 	0 	0 	 
	 	 	500,000 	Springing	 	Cash	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	950,000 	24,561 	1,500,000 	Cash	 	0 	0 	 
	Cash	 	500,000 	15,572 	850,000 	Cash	 	0 	0 	 
	 	 	3,500,000 	Springing	1,000,000 	Cash	 	0 	0 	 
	 	 	0 	Springing	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Cash	 	500,000 	Springing	 	Cash	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	Cash	 	0 	14,069 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	80,208 	160,417 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Cash	 	0 	5,365 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	200,000 	Springing	200,000 	Cash	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	Springing	422,238 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	Springing	1,449,387 	 	 	0 	0 	 
	Cash	 	7,550 	7,550 	450,000 	Cash	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	6,603 	237,705 	 	 	0 	0 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	150,000 	2,438 	300,000 	Cash	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	350,000 	4,280 	450,000 	Cash	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	Cash	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	0 	0 	 	 	 	0 	0 	 
	 	 	50,000 	2,080 	 	Cash	 	0 	0 	 

    

     

    

	Counterparty of TI/LC Escrow LOC	Upfront Other Description	Upfront Other Reserve	Other Monthly Description
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	Ground Sublease Reserve
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	PIP Reserve	5,000,000 	Hotel Tax Reserve
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	East Entrance Contingency Reserve: 1,000,000; Seasonality Reserve: 200,000	1,200,000 	Seasonality Reserve: Springing
	 	Mosaic Upfront Rollover Reserve: 1,063,630.42; Daikin Upfront Rollover Reserve: 1,982,520; Daikin Rent Abatement Reserve: 773,208; Verify Upfront Rollover Reserve: 183,682.87; Remark Upfront Rollover Reserve: 18,397.50; Charter Upfront Rollover Reserve: 4,070; Travel Leaders Upfront Rollover Reserve: 296,311.93; Messerli Upfront Rollover Reserve: 225,318.55; Travel Leaders Rent Abatement Reserve: 164,181.77	4,711,321 	Mosaic Rollover Reserve: Springing; Covidien Rollover Reserve: Springing
	 	Major Repair Reserve	1,232,581 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Rent Abatement Reserve	14,238 	 
	 	Free Rent Reserve: 15,664,539.69; Renovation Reserve: 6,131,548	21,796,088 	 
	 	Landlord Obligations Reserve: 1,127,202; Free Rent Reserve: 631,755.03	1,758,957 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	0 	 
	 	 	0 	 
	 	 	0 	 
	 	Existing TI/LC Reserve: 84,445.65; Free Rent Reserve: 27,317.50	111,763 	 
	 	Outstanding TI/LC Reserve	145,082 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	REA Charges	94,641 	REA Charges
	 	 	0 	 
	 	Unfunded Tenant Obligations Reserve: 5,110,999; DY Achievement Reserve: 2,200,000; Skechers Lease Achievement Reserve: 690,000; Contract Tenant Achievement Reserve: 310,000; Rent Concession Reserve: 19,396.73 	8,330,396 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	Existing TI/LC Obligations Reserve: 109,315; Rent Concession Reserve: 62,050	171,365 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	PIP Reserve	200,000 	 
	 	 	0 	 
	 	 	0 	 
	 	Mattress Store Free Rent Reserve	35,000 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    

     

    

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	0 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	PIP Reserve	2,150,000 	 
	 	 	0 	 
	 	Outstanding TI/LC Reserve	1,804,093 	 
	 	 	0 	 
	 	 	0 	 
	 	Rent Concession Funds	31,379 	Condominium Common Charge Reserve
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Holdback Reserve: 215,000; Gap Rent Reserve: 20,125	235,125 	 
	 	PIP Reserve	200,000 	 
	 	 	0 	 
	 	 	0 	PIP Reserve
	 	 	0 	 
	 	Dollar Tree Reserve	13,483 	 
	 	 	0 	 
	 	 	0 	 
	 	Seasonality Reserve	70,000 	Seasonality Reserve
	 	 	0 	Seasonality Reserve
	 	 	0 	 

    

     

    

	Monthly Other Reserve	Other Reserve Cap	Other Reserve Cash or LOC	Counterparty of Other Escrow LOC	Holdback Amt	Description of LOC	Letter of Credit	Lockbox Type
	0 	 	 	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Springing	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Springing	 	Cash	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Springing	Seasonality Reserve: 200,000	Cash	 	NAP	NAP	No	Springing
	Springing	Mosaic Rollover Reserve: 1,925,325; Covidien Rollover Reserve: 1,869,700	Cash	 	NAP	NAP	No	Hard
	0 	 	Cash	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	Cash	 	NAP	NAP	No	Soft (Residential); Hard (Commercial)
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	7,887 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	Cash	 	2,200,000 	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Soft
	0 	 	 	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	Cash	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

 

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	Cash	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    

     

    

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	 	 	NAP	NAP	No	Hard
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	Cash	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Hard
	0 	 	 	 	NAP	NAP	No	Springing
	Springing	 	Cash	 	NAP	NAP	No	Springing
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	0 	 	Cash	 	215,000 	NAP	No	Hard
	0 	 	Cash	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Springing
	Springing	 	 	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	Cash	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Springing
	Springing	130,000 	Cash	 	NAP	NAP	No	Springing
	15,000 	 	 	 	NAP	NAP	No	Springing
	0 	 	 	 	NAP	NAP	No	Hard

    

     

    

	Borrower Name	Sponsor	Servicing Fee Rate
	SST II 19240 Hwy 12, LLC, SSGT 3252 N US Highway 1, LLC, SST II 501 NW Business Center Dr, LLC, SST II 10325 W Broward Blvd, LLC, SSGT 6 Sun Island Rd, LLC, SST II 9890 Pollock Dr, LLC, SST II 6318 W Sahara Ave, LLC, SST II 590 E Silverado Ranch Blvd, LLC, SST II 338 Jesse St, LLC, SST II 4630 Dick Pond Rd, LLC	SmartStop Asset Management, LLC	0.01125%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	425 GVP Property Company LLC, 1001 GVP Property Company LLC, 50 GVP Property Company LLC	Arch Street Capital Advisors, L.L.C., Great Valley Properties Investor Company LLC	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	ARG RMAKROH001, LLC, ARC WWHWCMI001, LLC, ARG BIJTNNY001, LLC, ARG CMPCRMS001, LLC, ARC FESANTX001, LLC, ARC DINCNOH001, LLC, ARC MSELGIL001, LLC, ARG FEGRNNC001, LLC, ARC CWGRDMI001, LLC, ARG FEBLCID001, LLC, ARC CWARANE001, LLC, ARC CWSALKS001, LLC, ARC CWRVTIL001, LLC, ARC CWWPKMN001, LLC, ARC CWVININ001, LLC, ARC CWUVLOH001, LLC 	Global Net Lease Operating Partnership, L.P.	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	SWVP New Orleans LLC, SWVP Sawgrass Mills LLC, SWVP Charlotte LLC, SWVP Raleigh LLC	Southwest Value Partners Fund XVI, LP	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	17th Street Hotel, LLC, 17th Street Hotel Operations, LLC	Howard J. Wurzak	0.01250%
	Pembroke TCM Atria LLC	Ten Capital Management, Pembroke IV LLC	0.00250%
	Four State Storage DST	Inland Private Capital Corporation	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Tenth and Market, LLC	Crescent Heights	0.00250%
	Georgetown Eleventh Avenue Owners, LLC	TABLE Holdings L.P., Georgetown Company, William A. Ackman, Adam R. Flatto	0.00250%
	FPG Colonnade, LP	Fortis Property Group, LLC	0.00250%
	Appletree Estates Associates, LLC, Brighton Village Associates, LLC, Chalet Village Associates, LLC, College Heights Associates, LLC, Fernwood Associates MHC, LLC, Hillcrest Acres Associates, LLC, Metro Commons Associates, LLC, Royal Village Associates, LLC, Satellite Bay Associates, LLC, South Lyon Woods Associates, LLC	Ross H. Partrich	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	DHCS Associates LLC	Kenneth K. Kochenour	0.00250%
	CHADC2 Investment, LLC	AGC Equity Partners Investments Ltd.	0.00250%
	The Falls In Hudson, Inc.	Mark M. Salomon	0.00250%
	Alton Self Storage, LP	Mark Conzelman, M. Paul Conzelman, John C. Thomson, Thomson Family Trust, Dated June 18, 1997	0.01125%
	Brickman 4201 Connecticut Avenue LLC 	Bruce S. Brickman	0.00250%
	Cal Center Investors DE-SPE, LLC	Matthew T. White, The Matthew White Family Trust Dated March 1, 2002	0.00250%
	ExchangeRight Net Leased Portfolio 26 DST	ExchangeRight Real Estate, LLC, David Fisher, Joshua Ungerecht, Warren Thomas	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	P Portfolio Owner, LLC	David Ridini, Matthew Snyder	0.00250%
	University Place DE LP, Southwest Coast Properties LLC	Robert Berger, Richard Glickman, Anthony Passander	0.01125%
	LRC Northway Mall Acquisitions LLC	Lawrence B. Levey, Lawrence B. Levey Trust (First Restatement)	0.00250%
	IRG RC Lessor KB, LLC	Stuart Lichter, Stuart Lichter, as Trustee of the Stuart Lichter Trust dated November 13, 2011	0.02125%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	ExchangeRight Net Leased Portfolio 24 DST	ExchangeRight Real Estate, LLC, David Fisher, Joshua Ungerecht, Warren Thomas	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Beaverton Retirement Association - Phase I, a Limited Partnership	Robert M. Arcand, Robert M. Arcand, Trustee of The Robert M. Arcand Trust	0.04250%
	MKE Aurora Dent Equities LLC	Felton Properties, Inc.	0.00250%
	 	 	 
	 	 	 
	PRD Owner, LLC	Richard Eugene Workman	0.00375%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	600 Pine Partners, LLC	Jason D. Jaeger, Sep A. Wolf, Brynn A. Wolf, Sep A. Wolf and Brynn A. Wolf as co-trustees of the Wolf Family 2015 Revocable Trust dated May 26, 2015 	0.04250%
	AVR Lubbock Hotel II LLC	Allan V. Rose	0.00250%
	CS1031 Carolina Industrial, DST	Louis J. Rogers	0.01125%
	Douglas Lodging LLC	Hiren Desai	0.00250%
	Bond Street Fund 19, LLC	Michael D. Reynolds, The Michael D. Reynolds Revocable Trust	0.00250%
	 	 	 
	 	 	 
	Higgins Properties LLC, Masters Properties LLC, Robin 1 Properties LLC, Tanaka Properties LLC, ILPT TSM Properties LLC, Z&A Properties LLC, LTMAC Properties LLC, ILPT Orville Properties LLC, RFRI Properties LLC, TedCal Properties LLC	Industrial Logistics Properties Trust	0.00250%
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    

     

    

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Store SPE Southern Motion 2018-1, LLC	STORE Capital Corporation	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Riverpointe North Partners, LLC	Timothy J. Dora, Robert Dora, Robert McCormack	0.00250%
	Sierra Springs Village DE LLC, Sierra Springs Meadowbrook AZ TIC LLC, Sierra Springs Colonial OH TIC LLC, Sierra Springs Black Canyon TIC LLC	Daniel Williamson	0.00250%
	Christiana Mall LLC	GGP Inc., Brookfield Property Partners L.P., Brookfield Asset Management Inc.	0.00250%
	Sangamon North LLC	Carnegie Properties, Inc.	0.01125%
	Dunn Hospitality Ventures, LLC	Oscar N. Harris, John M. Sandlin	0.00250%
	Presidential Court I LLC, Presidential Court II LLC, Greentree of Naples LLC, Houchin LLC, Concorde Drive LLC	Judith K. Burns, Charles J. Burns	0.00250%
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	North Attleboro Shopping Center, LLC	Matthew L. Genes, Ryan G. Gadles	0.04250%
	Wausau Hospitality LLC	Shreyas Patel	0.00250%
	Prime Storage Townline LLC	Robert Moser	0.00250%
	MLKS Hotel Group, Inc.	Minhas Ladiwalla, Mohd Karim Sayani	0.00250%
	Safeway POB 1322, LLC	Jean Whitehurst, Michael Whitehurst, Donald Whitehurst	0.00250%
	TCP LA Partners, L.P.	Robert B. Neely	0.00250%
	Apsilon Management-Oakley BLVD, LLC	Rajesh A. Patel	0.00250%
	Allied Hotels Group L.L.C.	Bina Bhakta, Divyesh Bhakta, Vimal Bhakta, Nitin Bhakta, Mahesh Bhakta, Ishvar Bhakta, Nelesh Patel 	0.01125%
	Virk Hospitality Long Beach, LLC	Amandeep Singh Virk, Harjinder Singh Virk	0.00250%
	Oneida Hospitality, LLC	Nitin Tiwari, Rahul Tiwari, Karthik Pothumachi	0.00250%
	123 Whiting St LLC	Pincus Rand	0.00250%

    

     

    

 

EXHIBIT C

FORM OF INVESTMENT REPRESENTATION LETTER

 

Wells Fargo Bank, National Association

     as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services – BBCMS Mortgage Trust 2019-C3

      [OR OTHER CERTIFICATE REGISTRAR]

 

Barclays Commercial Mortgage Securities LLC

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

 

		Re:	Transfer
                                         of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series
                                         2019-C3 

 

Ladies and Gentlemen:

 

This letter is delivered
pursuant to Section 5.03 of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing
Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of
PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, on behalf
of the holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 in connection with
the transfer by _________________ (the “Seller”) to the undersigned (the “Purchaser”) of
$_______________ aggregate [Certificate Balance][Notional Amount][__% Percentage Interest] of Class ___ Certificates (collectively,
the “Certificates”). Capitalized terms used and not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Pooling and Servicing Agreement.

 

In connection with such
transfer, the Purchaser hereby represents and warrants to you and the addressees hereof as follows:

 

1.       Check
one of the following:*

 

  ☐       The
Purchaser is not purchasing a Class R Certificate and the Purchaser is an institution that is an “accredited investor”
within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D (“Regulation D”) under the Securities
Act of 1933, as amended (the “Securities Act”) or any entity in which all

 

 

*
       Purchaser must select one of the following two certifications.

 

    C-1

     

    

 

of the equity owners are “accredited
investors” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D (each, an “Institutional Accredited
Investor”) and has such knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of its investment in the Certificates, and the Purchaser and any accounts for which it is acting are each able
to bear the economic risk of the Purchaser’s or such account’s investment. The Purchaser is acquiring the Certificates
purchased by it for its own account or for one or more accounts, each of which is an Institutional Accredited Investor, as to each
of which the Purchaser exercises sole investment discretion. The Purchaser hereby undertakes to reimburse the Trust for any costs
incurred by it in connection with this transfer.

 

  ☐       The
Purchaser is a “qualified institutional buyer” (a “QIB”) within the meaning of Rule 144A (“Rule
144A”) under the Securities Act. The Purchaser is aware that the transfer is being made in reliance on Rule 144A, and
the Purchaser has had the opportunity to obtain the information required to be provided pursuant to paragraph (d)(4)(i) of Rule
144A.

 

2.       The
Purchaser’s intention is to acquire the Certificates (a) for investment for the Purchaser’s own account or (b) for
reoffer, resale, pledge or other transfer (i) to QIBs in transactions under Rule 144A, and not in any event with the view to, or
for resale in connection with, any distribution thereof, or (ii) (other than with respect to a Class R Certificate) to Institutional
Accredited Investors, subject in the case of clause (ii) above to (w) the receipt by the Certificate Registrar of a letter substantially
in the form hereof, (x) the receipt by the Certificate Registrar of an opinion of counsel acceptable to the Trustee and Certificate
Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act, (y) the receipt by the Certificate
Registrar of such other evidence acceptable to the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance
with the Securities Act and other applicable laws and (z) a written undertaking to reimburse the Trust for any costs incurred by
it in connection with the proposed transfer. The Purchaser understands that the Certificates (and any subsequent Certificates)
have not been registered under the Securities Act, by reason of a specified exemption from the registration provisions of the Securities
Act which depends upon, among other things, the bona fide nature of the Purchaser’s investment intent (or intent to reoffer,
resell, pledge or transfer the Certificates only to certain investors in certain exempted transactions) as expressed herein.

 

3.       The
Purchaser has reviewed the Preliminary Prospectus and the Final Prospectus relating to the Offered Certificates (collectively,
the “Prospectus”) (and, with respect to Offered Private Certificates, the Preliminary Private Placement Memorandum
and the Final Private Placement Memorandum related to such Offered Private Certificates) and the agreements and other materials
referred to therein and has had the opportunity to ask questions and receive answers concerning the terms and conditions of the
transactions contemplated by the Prospectus.

 

4.       The
Purchaser acknowledges that the Certificates (and any Certificates issued on transfer or exchange thereof) have not been registered
or qualified under the Securities Act or the securities laws of any State or any other jurisdiction, and that the Certificates
cannot be reoffered, resold, pledged or otherwise transferred unless it is registered or qualified thereunder or unless an exemption
from such registration or qualification is available.

 

    C-2

     

    

 

5.       The
Purchaser hereby undertakes to be bound by the terms and conditions of the Pooling and Servicing Agreement in its capacity as an
owner of a Certificate or Certificates, as the case may be (each, a “Certificateholder”), in all respects as
if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Certificate Registrar and all Certificateholders
present and future.

 

6.       The
Purchaser will not sell or otherwise transfer any portion of the Certificate or Certificates, except in compliance with Section
5.03 of the Pooling and Servicing Agreement.

 

7.       Check
one of the following:**

 

  ☐       The
Purchaser is a U.S. Tax Person (as defined below) and it has attached hereto an Internal Revenue Service (“IRS”)
Form W-9 (or successor form).

 

  ☐       The
Purchaser is not a U.S. Tax Person and under applicable law in effect on the date hereof, no taxes will be required to be withheld
by the Certificate Registrar (or its agent) with respect to distributions to be made on the Certificates. The Purchaser has attached
hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form, as applicable), which identifies such Purchaser
as the beneficial owner of the Certificates and states that such Purchaser is not a U.S. Tax Person, (ii) IRS Form W-8IMY (with
all appropriate attachments) or (iii)]*** two duly executed copies of IRS Form W-8ECI (or successor form), which identify
such Purchaser as the beneficial owner of the Certificates and state that interest and original issue discount on the Certificates
and Permitted Investments is, or is expected to be, effectively connected with a U.S. trade or business. The Purchaser agrees to
provide to the Certificate Registrar updated [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY or]*** IRS Form W-8ECI, [as the
case may be,]*** any applicable successor IRS forms, or such other certifications as the Certificate Registrar may reasonably request,
on or before the date that any such IRS form or certification expires or becomes obsolete, or promptly after the occurrence of
any event requiring a change in the most recent IRS form of certification furnished by it to the Certificate Registrar.

 

For purposes of this paragraph 7, “U.S.
Tax Person” means a citizen or resident of the United States, a corporation or partnership (except to the extent provided
in applicable Treasury Regulations) or other entity created or organized in, or under the laws of, the United States, any State
thereof or the District of Columbia, including any entity treated as a corporation or partnership for federal income tax purposes,
an estate whose income is subject to United States federal income tax regardless of its source or a trust if a court within the
United States is able to exercise primary supervision over the administration of such trust, and one or more such U.S. Tax Persons
have the authority to control all substantial decisions of such trust (or, to the extent

 

 

		**	Each Purchaser must select one of the two alternative
certifications.

 

		***	Does not apply to a transfer of Class R Certificates.

 

    C-3

     

    

 

provided in applicable Treasury Regulations,
certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Tax Persons).

 

8.             Please
make all payments due on the Certificates:****

 

☐      (a)       by
wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

 

Bank: ______________________________________

ABA #: _____________________________________

Account #: __________________________________

Attention: ___________________________________ 

 

☐       (b)       by
mailing a check or draft to the following address: 

______________________________________________

______________________________________________

______________________________________________

 

 

9.             If
the Purchaser is purchasing a Class R Certificate, the Purchaser is not a partnership (including any entity treated as a partnership
for U.S. federal income tax purposes), any interest in which is owned, directly or indirectly, through one or more partnerships,
trusts or other pass-through entities by a Disqualified Non-U.S. Tax Person.

 

	 	Very truly yours,
	 	 
	 	 
	 	[The Purchaser]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

****
       Only to be filled out by Purchasers of Definitive Certificates. Please select (a) or
(b). For holders of the Definitive Certificates, wire transfers are only available if such holder’s Definitive Certificates
have an aggregate Certificate Balance or Notional Amount, as applicable, of at least U.S. $5,000,000.

 

    C-4

     

    

 

EXHIBIT D-1

FORM OF TRANSFEREE AFFIDAVIT

FOR TRANSFERS OF CLASS R CERTIFICATES

 

[Date]

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS) –

BBCMS Mortgage Trust 2019-C3

[OR OTHER CERTIFICATE REGISTRAR]

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         (the “Certificates”) issued pursuant to the Pooling and Servicing Agreement
                                         (the “Pooling and Servicing Agreement”), dated as of June 1, 2019, between
                                         Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division
                                         of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells
                                         Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha
                                         Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer 

 

	STATE OF	)	 	 
	 	)	ss.:	 
	COUNTY OF	)	 	 

  

I, [______], under penalties
of perjury, declare that, to the best of my knowledge and belief, the following representations are true, correct and complete,
and being first sworn, depose and say that:

 

1.       I
am a [______] of [______] (the “Purchaser”), on behalf of which I have the authority to make this affidavit.

 

2.       The
Purchaser is acquiring Class R Certificates representing [__]% of the residual interest in each of the real estate mortgage investment
conduits (each, a “REMIC”) designated as the (i) “Lower-Tier REMIC” and (ii) “Upper-Tier
REMIC”, respectively, relating to the Certificates for which an election is to be made under Section 860D of the Internal
Revenue Code of 1986 (the “Code”).

 

    D-1-1

     

    

 

3.       The
Purchaser is not a “Disqualified Organization” (as defined below), and that the Purchaser is not acquiring the
Class R Certificates for the account of, or as agent or nominee of, or with a view to the transfer of direct or indirect record
or beneficial ownership thereof, to a Disqualified Organization. For the purposes hereof, a Disqualified Organization is any of
the following: (i) the United States, any State or political subdivision thereof, any possession of the United States or any agency
or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject
to tax and, except for the Federal Home Loan Mortgage Corporation, a majority of its board of directors is not selected by such
governmental unit), (ii) a foreign government, any international organization or any agency or instrumentality of any of the foregoing,
(iii) any organization which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511
of the Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with
respect to the Class R Certificates (except certain farmers’ cooperatives described in Section 521 of the Code), (iv) rural
electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code and (v) any other Person so designated by the
Trustee or the Certificate Administrator based upon an Opinion of Counsel as provided to the Trustee or the Certificate Administrator
(at no expense to the Trustee or the Certificate Administrator) that the holding of an Ownership Interest in a Class R Certificate
by such Person may cause a Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding or any Person
having an Ownership Interest in any Class of Certificates (other than such Person) to incur a liability for any federal tax imposed
under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R Certificate to such
Person. The terms “United States,” “State” and “international organization” shall have the
meanings set forth in Section 7701 of the Code or successor provisions.

 

4.       The
Purchaser acknowledges that Section 860E(e) of the Code would impose a substantial tax on the transferor or, in certain circumstances,
on an agent for the transferee, with respect to any transfer of any interest in any Class R Certificates to a Disqualified Organization.

 

5.       The
Purchaser is a Permitted Transferee and, to the extent applicable, the Purchaser’s U.S. taxpayer identification number is
[__________].

 

6.       No
purpose of the acquisition of the Class R Certificates is to impede the assessment or collection of tax.

 

7.       The
Purchaser will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed base,
within the meaning of an applicable income tax treaty, of the Purchaser or any other person.

 

8.       Check
the applicable paragraph:

 

☐      The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:

 

(i)      the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;

 

    D-1-2

     

    

 

(ii)     the
present value of the expected future distributions on such Class R Certificate; and

 

(iii)    the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.

 

For purposes of this
calculation, (i) the Purchaser is assumed to pay tax at the rate currently specified in Section 11(b) of the Code (but the tax
rate in Section 55(b) of the Code may be used in lieu of the corporate income tax rate specified in Section 11(b) of the Code if
the Purchaser has been subject to the alternative minimum tax under Section 55 of the Code in the preceding two years and will
compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present values are computed
using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the month of the transfer
and the compounding period used by the Purchaser.

 

☐       The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly,

 

(i)       the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
income from the Class R Certificate will only be taxed in the United States;

 

(ii)      at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

(iii)     the
Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in Treasury Regulations
Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Sections 1.860E-1(c)(4)(i), (ii) and (iii) and Treasury
Regulations Section 1.860E-1(c)(5); and

 

(iv)     the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐       None
of the above.

 

9.       The
Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class R Certificates as they become due.

 

10.     The
Purchaser understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flows generated
by such Certificate.

 

    D-1-3

     

    

 

11.       The
Purchaser is aware that the Certificate Registrar will not register any transfer of a Class R Certificate by the Transferor unless
the Purchaser, or such Purchaser’s agent, delivers to the Certificate Registrar, among other things, an affidavit and agreement
in substantially the same form as this affidavit and agreement. The Purchaser expressly agrees that it will not consummate any
such transfer if it knows or believes that any representation contained in such affidavit and agreement is false.

 

12.       The
Purchaser represents that it is not acquiring the Class R Certificate as a nominee, trustee or agent for any person that is not
a Permitted Transferee and that for so long as it retains its interest in the Class R Certificate, it will endeavor to remain a
Permitted Transferee.

 

13.       The
Purchaser consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Class R Certificate will only be owned, directly or indirectly, by a Permitted Transferee.

 

14.       The
Purchaser has reviewed the provisions of Section 5.03 of the Pooling and Servicing Agreement, a description of which provisions
is set forth in the Class R Certificates; and the Purchaser expressly agrees to be bound by and to comply with such provisions.

 

15.       The
Purchaser consents to the (i) designation of the Certificate Administrator as the “partnership representative” (as
defined in Section 6223 of the Code) of each Trust REMIC pursuant to Section 10.01 of the Pooling and Servicing Agreement and (ii)
Certificate Administrator making any elections allowed under the Code (a) to avoid the application of Section 6221 (or successor
provision) to the Trust REMICs and (b) to avoid payment by the Trust REMICs under Section 6225 of any tax, penalty, interest or
other amount imposed under the Code that would otherwise be imposed on a Holder of Class R Certificates. The Purchaser agrees,
by acquiring such certificate, to any such elections and to reasonably cooperate with the Certificate Administrator in connection
with any such elections the Certificate Administrator determines in its discretion are necessary or advisable.

 

Capitalized terms used
but not defined herein have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

    D-1-4

     

    

 

IN WITNESS WHEREOF, the
Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized officer this ___day of _________,
20__.

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	By:	 
	 	 	Name:
	 	 	Title:

  

On this ____ day of _______20__,
before me, the undersigned, a Notary Public in and for the State of _______________, duly commissioned and sworn, personally appeared
______________________ and ________________________, known or proved to me to be the same persons who executed the foregoing instrument
and to be _____________________________ and ___________________________, respectively, of the Purchaser, and acknowledged to me
that they executed the same as their respective free acts and deeds and as the free act and deed of the Purchaser.

 

	 		 
	 	 	NOTARY PUBLIC in and for the State of
	 	 	 	 	 

 

[SEAL]

My Commission expires:

___________________

 

    D-1-5

     

    

 

EXHIBIT D-2

FORM OF TRANSFEROR LETTER FOR TRANSFERS

OF CLASS R CERTIFICATES

 

[Date]

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS) –

BBCMS Mortgage Trust 2019-C3

 [OR OTHER CERTIFICATE REGISTRAR]

 

		Re:	BBCMS
                                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 (the “Certificates”)

 

Ladies and Gentlemen:

 

This letter is delivered
to you in connection with the transfer by [______] (the “Transferor”) to [______] (the “Transferee”)
of Class R Certificates evidencing a [__]% Percentage Interest in such Class (the “Residual Certificates”).
The Certificates, including the Residual Certificates, were issued pursuant to the Pooling and Servicing Agreement, dated as of
June 1, 2019 (the “Pooling and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC, as
Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells
Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor
and as Asset Representations Reviewer. All capitalized terms used but not otherwise defined herein shall have the respective meanings
set forth in the Pooling and Servicing Agreement. The Transferor hereby certifies, represents and warrants to you, as Certificate
Registrar, that:

 

(1)       No
purpose of the Transferor relating to the transfer of the Residual Certificates by the Transferor to the Transferee is or will
be to impede the assessment or collection of any tax.

 

(2)       The
Transferor understands that the Transferee has delivered to you a Transferee Affidavit in the form attached to the Pooling and
Servicing Agreement as Exhibit D-1. The Transferor does not know or believe that any representation contained therein is
false.

 

(3)       The
Transferor has at the time of this transfer conducted a reasonable investigation of the financial condition of the Transferee as
contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Transferor has determined
that

 

    D-2-1

     

    

 

the Transferee has historically paid its
debts as they became due and has found no significant evidence to indicate that the Transferee will not continue to pay its debts
as they become due in the future. The Transferor understands that the transfer of the Residual Certificates may not be respected
for United States income tax purposes (and the Transferor may continue to be liable for United States income taxes associated
therewith) unless the Transferor has conducted such an investigation.

 

	 	Very truly yours,
	 	 
	 	 	(Transferor)
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    D-2-2

     

    

 

EXHIBIT D-3

FORM OF TRANSFEREE CERTIFICATE FOR TRANSFERS

OF RISK RETENTION CERTIFICATES

 

[Date]

 

Wells Fargo Bank, National Association,

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Risk Retention Custody (CMBS) –

BBCMS Mortgage Trust 2019-C3

         [OR OTHER CERTIFICATE REGISTRAR]

 

Barclays Capital Real Estate Inc.,

        as Retaining Sponsor

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

 

Barclays Commercial Mortgage Securities LLC

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         (the “Certificates”) issued pursuant to the Pooling and Servicing Agreement
                                         (the “Pooling and Servicing Agreement”), dated as of June 1, 2019, between
                                         Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division
                                         of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells
                                         Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha
                                         Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer 	 

 

[_____] (the “Purchaser”)
hereby certifies, represents and warrants to you, as Certificate Registrar and as “retaining sponsor” as such term
is defined in Regulation RR, that:

 

1.       The
Purchaser is acquiring $[_____] Certificate Balance of the [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificates] from [_____] (the
“Transferor”).

 

2.       The
Purchaser is aware that the Certificate Registrar will not register any transfer of a [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificate]
by the Transferor unless the Purchaser, or such Purchaser’s agent, delivers to the Certificate Registrar, among other things,
a certificate in substantially the same form as this certificate. The Purchaser expressly agrees that it

 

    D-3-1

     

    

 

will not consummate any
such transfer if it knows or believes that any representation contained in such certificate is false.

 

3.       If
the Purchaser is (i) a Plan (or is acting on behalf of or using the assets of a Plan) subject to ERISA or Section 4975 of the Code
relying on Final Authorization Number 04-03E or (ii) an insurance company general account relying on PTCE 95-60 to cover its acquisition
of the [Class [F-RR][G-RR][H-RR][J-RR] Certificates], (a) all of the conditions of Final Authorization Number 04-03E or of Parts
I and III of PTCE 95-60, as applicable, will be satisfied with respect to the acquisition of the [Class [F-RR][G-RR][H-RR][J-RR]
Certificates] and (b) the acquisition of the [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificates] will be effected through Barclays
Capital Inc. or UBS Securities LLC or an affiliate thereof.

 

4.       Check
one of the following:

 

  ☐          The
transfer will occur during the Transfer Restriction Period, and the Purchaser certifies, represents and warrants to you, as Certificate
Registrar, that:

 

A.       It
is a “majority-owned affiliate”, as such term is defined in Regulation RR, of the Transferor (a “Majority-Owned
Affiliate”).

 

B.       It
is not acquiring the [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificates] as a nominee, trustee or agent for any person that is
not a Majority-Owned Affiliate, and that for so long as it retains its interest in the [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificates],
it will remain a Majority-Owned Affiliate.

 

C.       The
transfer will comply with all applicable provisions of Regulation RR.

 

  ☐          The
transfer will occur on or after the fifth anniversary of the Closing Date, and the Purchaser certifies, represents and warrants
to you, as Certificate Registrar, that:

 

A.       The
transfer will comply with all applicable provisions of Regulation RR.

 

  ☐          The
transfer will occur after the termination of the Transfer Restriction Period and the countersignature of the Retaining Sponsor
is not required.

 

Capitalized terms used
but not defined herein have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

IN WITNESS WHEREOF, the
Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized senior officer this ___day of _________,
20__.

 

    D-3-2

     

    

 

	 	By:	 
	 	 	Name:
	 	 	Title:

  

	 	By:	 
	 	 	Name:
	 	 	Title:

 

The foregoing certificate
is hereby confirmed, and the transfer is accepted, as of the date first above written:

	 	 	 
	 	BARCLAYS CAPITAL REAL ESTATE

                    

	 	 	INC., as Retaining Sponsor
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    D-3-3

     

    

 

EXHIBIT D-4

FORM OF TRANSFEROR CERTIFICATE FOR TRANSFERS

OF RISK RETENTION CERTIFICATES

 

[Date]

 

Wells Fargo Bank, National Association,

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Risk Retention Custody (CMBS) –

BBCMS Mortgage Trust 2019-C3

       [OR OTHER CERTIFICATE REGISTRAR]

 

Barclays Capital Real Estate Inc.,

      as Retaining Sponsor

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 (the “Certificates”) 	 

 

Ladies and Gentlemen:

 

This is delivered to
you in connection with the transfer by [______] (the “Transferor”) to [______] (the “Transferee”)
of a [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificate] evidencing $[____] Certificate Balance in such Class. The Certificates
were issued pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. All capitalized terms used but not
otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. The Transferor hereby
certifies, represents and warrants to you that:

 

1.       The
transfer is in compliance with the Pooling and Servicing Agreement.

 

2.       If
the Purchaser is (i) a Plan (or is acting on behalf of or using the assets of a Plan) subject to ERISA or Section 4975 of the Code
relying on Final Authorization Number 04-03E or (ii) an insurance company general account relying on PTCE 95-60 to cover its acquisition
of the [Class [F-RR][G-RR][H-RR][J-RR] Certificate], (a) all of the conditions of Final Authorization Number 04-03E or of Parts
I and III of PTCE 95-60, as applicable, will be satisfied with respect to the acquisition of the [Class [F-RR][G-RR][H-RR][J-RR]
Certificate] and (b) the

 

    D-4-1

     

    

 

acquisition of the [Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificate] will be effected through Barclays
Capital Inc. or UBS Securities LLC, or an affiliate thereof.

 

3.       Check
one of the following:

 

  ☐       The
transfer will occur during the Transfer Restriction Period, and the Transferor certifies, represents and warrants to you that the
Transferee is a “majority-owned affiliate”, as such term is defined in Regulation RR, of the Transferor.

 

  ☐       The
transfer will occur after the termination of the Transfer Restriction Period and the countersignature of the Retaining Sponsor
is not required.

 

  ☐       The
transfer will occur on and after the fifth anniversary of the Closing Date, and the Transferor certifies, represents and warrants
to you that the Transferor has satisfied all of the conditions under the Third Party Purchaser Agreement, between Barclays Commercial
Mortgage Securities LLC, Barclays Capital Real Estate Inc. and KKR Real Estate Credit Opportunity Partners Aggregator I L.P., applicable
to transfers by the Transferor to subsequent Third Party Purchasers.

 

4.       The
Transferor understands that the Transferee has delivered to you a Transferee Certificate in the form attached to the Pooling and
Servicing Agreement as Exhibit D-3. The Transferor does not know or believe that any representation contained therein is
false.

 

    D-4-2

     

    

 

IN WITNESS WHEREOF, the
Transferor has caused this instrument to be duly executed on its behalf by its duly authorized senior officer this ___day of _________,
20__.

 

	 	[TRANSFEROR]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

The foregoing certificate
is hereby confirmed, and the transfer is accepted, as of the date first above written:

 

	 	 	 
	 	BARCLAYS CAPITAL REAL ESTATE

                    

	 	 	INC., as Retaining Sponsor
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    D-4-3

     

    

 

EXHIBIT E

FORM OF REQUEST FOR RELEASE

(for Custodian)

 

	Loan Information
	 	Name of Mortgagor:	

	 	 	 
	 	[Master Servicer]	 
	 	[Special Servicer]	 
		Loan No.:	

	Custodian
	 	Name:	Wells Fargo Bank, National Association
	 	Address:	1055 10th Ave SE 

Minneapolis, Minnesota 55414

Attention: Document Custody Group

BBCMS Mortgage Trust 2019-C3
	 	Custodian/Trustee	 
	 	Mortgage File No.:	

	Depositor
		Name:	Barclays Commercial Mortgage Securities LLC
	 	 	 
	 	Address:	
        745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

	 	 	 
	 	Certificates:	BBCMS Mortgage Trust 2019-C3,

Commercial Mortgage Pass-Through Certificates,

Series 2019-C3

 

The undersigned [Master
Servicer] [Special Servicer] hereby requests delivery from Wells Fargo Bank, National Association, as custodian (in such capacity,
the “Custodian”) and as trustee (in such capacity, the “Trustee”), for the Holders of BBCMS
Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, the documents referred to below (the “Documents”).
All capitalized terms not otherwise defined in this Request for Release shall have the meanings given them in the Pooling and Servicing
Agreement dated as of June 1, 2019, between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association,
as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations
Reviewer (the “Pooling and Servicing Agreement”).

 

    E-1

     

    

 

( )           ___________________________

 

( )           ___________________________

 

( )           ___________________________

 

( )            ___________________________

 

The undersigned [Master
Servicer] [Special Servicer] hereby acknowledges and agrees as follows:

 

(1)       The
[Master Servicer] [Special Servicer] shall hold and retain possession of the Documents in trust for the benefit of the Trustee,
solely for the purposes provided in the Pooling and Servicing Agreement.

 

(2)       The
[Master Servicer] [Special Servicer] shall not cause or permit the Documents to become subject to, or encumbered by, any claims,
liens, security interests, charges, writs of attachment or other impositions nor shall the [Master Servicer] [Special Servicer]
assert or seek to assert any claims or rights of set-off to or against the Documents or any proceeds thereof except as otherwise
provided in the Pooling and Servicing Agreement.

 

(3)       The
[Master Servicer] [Special Servicer] shall return the Documents to the Custodian when the need therefor no longer exists, unless
the Mortgage Loans have been liquidated or the Mortgage Loans have been paid in full and the proceeds thereof have been remitted
to the Collection Account except as expressly provided in the Pooling and Servicing Agreement.

 

(4)       The
Documents and any proceeds thereof, including proceeds of proceeds, coming into the possession or control of the [Master Servicer]
[Special Servicer] shall at all times be earmarked for the account of the Trustee, and the [Master Servicer] [Special Servicer]
shall keep the Documents separate and distinct from all other property in the [Master Servicer’s] [Special Servicer’s]
possession, custody or control.

  

	 	[____________]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

Date: _________

 

    E-2

     

    

 

EXHIBIT F-1

FORM OF ERISA REPRESENTATION LETTER

REGARDING ERISA RESTRICTED CERTIFICATES

 

Wells Fargo Bank, National Association,

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Risk Retention Custody (CMBS) – BBCMS 2019-C3

         [OR OTHER CERTIFICATE REGISTRAR]

 

Barclays Commercial Mortgage Securities LLC

745 Seventh Avenue

New York, New York 10019

Attention: Daniel Vinson

 

		Re:	Transfer
                                         of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series
                                         2019-C3 

 

Ladies and Gentlemen:

 

The undersigned (the
“Purchaser”) proposes to purchase US$[___] aggregate initial [Certificate Balance][Notional Amount] in the BBCMS
Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, Class [F-RR][G-RR][H-RR][J-RR] Certificates
issued pursuant to that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used and not otherwise
defined herein have the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

In connection with such
transfer, the undersigned hereby represents and warrants to you as follows:

 

1.       The
Purchaser is not and will not be (a) an employee benefit plan or other plan subject to the fiduciary responsibility provisions
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or to Section 4975 of the Internal
Revenue Code of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA),
or any other plan that is subject to any federal, state or local law (“Similar Law”) which is, to a material
extent, similar to the foregoing provisions of ERISA or the Code (each a “Plan”) or (b) a person acting on behalf
of or using the assets of any such Plan (including an entity whose underlying assets include Plan assets by reason of investment
in the entity by such a Plan or Plans and the application of Department of Labor Regulation § 2510.3-101, as modified by Section
3(42) of ERISA), other than an insurance company using the assets of its “insurance company general account” (as such
term is defined in Section V(e) of Prohibited Transaction Class Exemption

 

    F-1-1

     

    

 

(“PTCE”) 95-60) under circumstances
whereby the purchase and holding of Certificates by such insurance company would be exempt from the prohibited transaction provisions
of ERISA and the Code under Sections I and III of PTCE 95-60 (or, in the case of a Plan subject to Similar Law, where the purchase,
holding and disposition by such Plan would not constitute or result in a non-exempt violation of applicable Similar Law).

 

2.       The
Purchaser understands that if the Purchaser is or becomes a Person referred to in 1(a) or (b) above, such Purchaser is required
to provide to the Trustee and the Certificate Administrator an Opinion of Counsel in form and substance satisfactory to the Trustee,
the Certificate Administrator and the Depositor to the effect that the acquisition and holding of such Certificate by such purchaser
or transferee will not constitute or result in a non-exempt “prohibited transaction” within the meaning of ERISA or
Section 4975 of the Code or a non-exempt violation of any Similar Law, and will not subject the Trustee, the Certificate Administrator,
the Certificate Registrar, the Master Servicer, the Special Servicer, any sub-servicer, the Initial Purchasers, the Underwriters,
the Asset Representations Reviewer, the Operating Advisor or the Depositor to any obligation or liability (including obligations
or liabilities under ERISA, Section 4975 of the Code or any such Similar Law) in addition to those set forth in the Pooling and
Servicing Agreement, which Opinion of Counsel shall not be at the expense of the Depositor, the Master Servicer, any sub-servicer,
the Special Servicer, the Trustee, the Certificate Administrator, the Certificate Registrar, the Operating Advisor, the Asset Representations
Reviewer, the Initial Purchasers, the Underwriters or the Trust.

 

IN WITNESS WHEREOF, the
Purchaser hereby executes this ERISA Representation Letter on the ___ day of _____________, 20__.

 

	 	Very truly yours,
	 	 
	 	[The Purchaser]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

   

Date: _________

 

    F-1-2

     

    

 

EXHIBIT F-2

FORM OF ERISA REPRESENTATION LETTER

REGARDING CLASS R CERTIFICATES

 

[Date]

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS) –

BBCMS Mortgage Trust 2019-C3

      [OR OTHER CERTIFICATE REGISTRAR]

 

[Transferor]

[______]

[______]

Attention: [______]

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 

 

Ladies and Gentlemen:

 

The undersigned (the
“Purchaser”) proposes to purchase [__]% Percentage Interest in the BBCMS Mortgage Trust 2019-C3, Commercial
Mortgage Pass-Through Certificates, Series 2019-C3, Class R Certificates (the “Class R Certificate”) issued
pursuant to that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used and not otherwise
defined herein have the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

In connection with such
transfer, the undersigned hereby represents and warrants to you that, with respect to the Class R Certificate, the Purchaser is
not and will not become (a) an employee benefit plan or other plan subject to the fiduciary responsibility provisions of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”) or to Section 4975 of the Internal Revenue Code
of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA) or other plan
that is subject to any federal, state or local law that is, to a material extent, similar to the foregoing provisions of ERISA
or the Code (“Similar Law”) (each, a “Plan”), or (b) a person acting on behalf of any such
Plan (including any entity whose underlying

 

    F-2-1

     

    

 

assets include Plan assets by reason of investment in the entity by such a Plan or
Plans and the application of Department of Labor Regulation § 2510.3-101, as modified by Section 3(42) of ERISA) or using
the assets of a Plan to purchase such Class R Certificate.

 

IN WITNESS WHEREOF, the
Purchaser hereby executes this ERISA Representation Letter on the ___ day of ____________, 20__.

 

	 	Very truly yours,
	 	 
	 	[The Purchaser]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Date: _______

 

    F-2-2

     

    

 

EXHIBIT G

FORM OF DISTRIBUTION DATE STATEMENT

 

    G-1

     

    

 

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 
	 	 	 	 	DISTRIBUTION DATE STATEMENT	 	 	 
	 	 	 	 	Table
    of Contents	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	STATEMENT SECTIONS	PAGE(s)	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	Certificate Distribution Detail	2	 	 	 
	 	 	 	 	Certificate Factor Detail	3	 	 	 
	 	 	 	 	Reconciliation Detail	4	 	 	 
	 	 	 	 	Other Required Information	5	 	 	 
	 	 	 	 	Cash Reconciliation Detail	6	 	 	 
	 	 	 	 	Current Mortgage Loan and Property Stratification Tables	7-9	 	 	 
	 	 	 	 	Mortgage Loan Detail	10	 	 	 
	 	 	 	 	NOI Detail	11	 	 	 
	 	 	 	 	Principal Prepayment Detail	12	 	 	 
	 	 	 	 	Historical Detail	13	 	 	 
	 	 	 	 	Delinquency Loan Detail	14	 	 	 
	 	 	 	 	Specially Serviced Loan Detail	15-16	 	 	 
	 	 	 	 	Advance Summary	17	 	 	 
	 	 	 	 	Modified Loan Detail	18	 	 	 
	 	 	 	 	Historical Liquidated Loan Detail	19	 	 	 
	 	 	 	 	Historical Bond / Collateral Loss Reconciliation 	20	 	 	 
	 	 	 	 	Interest Shortfall Reconciliation Detail	21-22	 	 	 
	 	 	 	 	Defeased Loan Detail	23	 	 	 
	 	 	 	 	Supplemental Reporting	24	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Depositor	 	 	 	Master
    Servicer	 	 	 	Special
    Servicer	 	 	 	Operating
    Advisor/ 

    Asset Representations Reviewer	 	 
	 	 	Barclays
                                         Commercial Mortgage
	 	 	 	

                                             Midland Loan Services, a Division of PNC
	 	 	 	Midland Loan Services, a Division of PNC Bank,	 	 	 	Pentalpha Surveillance LLC	 	 
	 	 	Securities LLC	 	 	 	Bank, National Association	 	 	 	10851 Mastin Street	 	 	 	PO Box 4839	 	 
	 	 	745 Seventh Avenue	 	 	 	10851 Mastin Street	 	 	 	Building 82, Suite 300	 	 	 	Greenwich, CT 06831	 	 
	 	 	New York, NY 10019	 	 	 	Building 82, Suite 300	 	 	 	Overland Park, KS 66210	 	 	 	New York, NY 10016	 	 
	 	 		 	 	 	Overland Park, KS 66210	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Contact: Daniel Vinson	 	 	 	Contact: 	 	 	 	Contact: Heather Wagner	 	 	 	Contact:               Don Simon	 	 
	 	 	Phone Number:  (212) 412-4000	 	 	 	Heather Wagner       (913) 253-9570	 	 	 	Phone Number:    (913) 253-9570	 	 	 	Phone Number:     (203) 660-6100	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	This report is compiled by Wells Fargo Bank, N.A. from information
provided by third parties. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of the information.	 	 
	 	 	 	 
	 	Please visit www.ctslink.com
    for additional information and if applicable, any special notices and any credit risk retention notices. In addition, certificateholders
    may register online for email notification when special notices are posted. For information or assistance please call 866-846-4526.	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 1 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Certificate
    Distribution Detail	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class
    	 	CUSIP	 	Pass-Through

    Rate	 	Original

    Balance	 	Beginning

    Balance	 	Principal

    Distribution	 	Interest

    Distribution	 	Prepayment

    Premium	 	Realized
    Loss/

    Additional Trust

    Fund Expenses	 	Total

    Distribution	 	Ending

    Balance	 	Current

    Subordination

    Level (1)	 	 
	 	 	A-1	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-2	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-3	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-4	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-SB	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-S	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	C	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	D	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	E-RR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	F-RR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	G-RR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	H-RR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	J-RR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	R	 	 	 	 0.000000%	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 0.00	 	 
	 	 	Totals	 	 	 	 	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	CUSIP	 	Pass-Through

    Rate	 	Original

    Notional

    Amount	 	Beginning

    Notional

    Amount	 	Interest

    Distribution	 	Prepayment

    Premium	 	Total

    Distribution	 	Ending

    Notional

    Amount	 	 	 	 	 	 	 	 
	 	 	X-A	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-D	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	(1)
                                         Calculated by taking (A) the sum of the ending certificate balance of all classes less
                                         (B) the sum of (i) the ending balance of the designated class and (ii) the ending certificate
                                         balance of all classes which are not subordinate to the designated class and dividing
                                         the result by (A).

                                               

                                               

                                               

	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 2 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Certificate Factor Detail
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

Balance
	Principal

Distribution
	Interest

Distribution
	Prepayment

Premium
	Realized
Loss/

Additional Trust

Fund Expenses
	Ending

Balance
	 
	 	 
	 	 
	 	A-1	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-2	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-3	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-4	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-SB	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-S	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	B	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	C	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	D	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	E-RR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	F-RR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	G-RR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	H-RR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	J-RR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	R	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

        Notional

        Amount
	Interest

        Distribution
	Prepayment

        Premium
	Ending

        Notional

        Amount
	 	 	 
	 	 	 	 
	 	 	 	 
	 	X-A	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-B	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-D	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	

                    
	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    Page 3 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Reconciliation Detail	 	 
	 	 	Principal
    Reconciliation	 	 
	 	 	 	 	Stated
    Beginning 

    Principal Balance	 	Unpaid
    Beginning

    Principal Balance	 	Scheduled
    

    Principal	 	Unscheduled

    Principal	 	Principal

    Adjustments	 	Realized
    Loss	 	Stated
    Ending

    Principal Balance	 	Unpaid
    Ending

    Principal Balance	 	Current
    Principal

    Distribution Amount	 	 
	 	 	Total	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Certificate
    Interest Reconciliation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	Accrual

    Dates	 	Accrual

    Days	 	Accrued

    Certificate

    Interest	 	Net
    Aggregate

    Prepayment

    Interest Shortfall	 	Distributable

    Certificate

    Interest	 	Distributable

    Certificate Interest

    Adjustment	 	WAC
    CAP

    Shortfall	 	Interest

    Shortfall/(Excess)

     	 	Interest

    Distribution	 	Remaining
    Unpaid

    Distributable

    Certificate Interest	 	 
	 	 	A-1	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-2	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-3	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-4	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-SB	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-A	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-S	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	C	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	E-RR	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	F-RR	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	G-RR	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	H-RR	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	J-RR	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	Totals	 	 	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 4 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Other Required Information	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Available Distribution Amount (1)	 	  0.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 		 	 	 	 
	 	 	 	 	 	 	 	Appraisal Reduction Amount	 	 	 	 
	 	 	 	 	 	 	 	Loan

    Number	 	 	Appraisal	 	 	Cumulative	 	 	Most
    Recent	 	 	 
	 	 	 	 	 	 	 	 	 	Reduction	 	 	ASER	 	 	App. Red.	 	 	 
	 	 	 	 	 	 	 	 	 	Effected	 	 	Amount	 	 	Date	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
        (1) The Available Distribution
        Amount includes any Prepayment Premiums.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 5 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Cash Reconciliation Detail	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Total Funds Collected	 	 	 	Total Funds Distributed	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Interest:	 	 	 	Fees:	 	 	 
	 	Interest paid or
    advanced	0.00	 	 	Master Servicing Fee - Midland Loan Services	0.00	 	 
	 	Interest
    reductions due to Non-Recoverability Determinations	0.00	 	 	Trustee Fee - Wells Fargo Bank, N.A.	0.00	 	 
	 	Interest Adjustments	0.00	 	 	Certificate Administration Fee - Wells Fargo Bank, N.A.	0.00	 	 
	 	Deferred Interest	0.00	 	 	CREFC Royalty License Fee	0.00	 	 
	 	Net Prepayment Interest
    Shortfall	0.00	 	 	Operating Advisor Fee - Pentalpha Surveillance LLC	0.00	 	 
	 	Net Prepayment Interest
    Excess	0.00	 	 	Asset Representations Reviewer Fee - Pentalpha Surveillance LLC	0.00	 	 
	 	Extension
    Interest	0.00	 	 	Total Fees	 	0.00	 
	 	Interest Reserve
    Withdrawal	0.00	 	 	Additional Trust
 Fund Expenses:	 		 
	 	Total Interest
    Collected	 	0.00	 	Reimbursement for
     Interest on Advances	0.00	 	 
	 	 	 	 	 	ASER Amount	0.00	 	 
	 	Principal:	 	 	 	Special Servicing
    Fee	0.00	 	 
	 	Scheduled Principal	0.00	 	 	Rating Agency Expenses	0.00	 	 
	 	Unscheduled Principal	0.00	 	 	Attorney Fees &
    Expenses	0.00	 	 
	 	Principal Prepayments	0.00	 	 	Bankruptcy Expense	0.00	 	 
	 	Collection of Principal
    after Maturity Date	0.00	 	 	Taxes Imposed on
    Trust Fund	0.00	 	 
	 	Recoveries from
    Liquidation and Insurance Proceeds	0.00	 	 	Non-Recoverable Advances	0.00	 	 
	 	Excess of Prior
    Principal Amounts paid	0.00	 	 	Other Expenses	0.00	 	 
	 	Curtailments	0.00	 	 	Total Additional
    Trust Fund Expenses	 	0.00	 
	 	Negative Amortization	0.00	 	 	 	 	 	 
	 	Principal Adjustments	0.00	 	 	Interest Reserve
    Deposit	 	0.00	 
	 	Total Principal
    Collected	 	0.00	 	 	 	 	 
	 	 	 	 	 	Payments to Certificateholders
    & Others:	 	 	 
	 	Other:	 	 	 	Interest Distribution	0.00	 	 
	 	Prepayment Penalties/Yield
    Maintenance	0.00	 	 	Principal Distribution	0.00	 	 
	 	Repayment Fees	0.00	 	 	Prepayment Penalties/Yield
    Maintenance	0.00	 	 
	 	Borrower Option Extension
    Fees	0.00	 	 	Borrower Option Extension
    Fees	0.00	 	 
	 	Equity Payments Received	0.00	 	 	Equity Payments Paid	0.00	 	 
	 	Net Swap Counterparty
    Payments Received	0.00	 	 	Net Swap Counterparty
    Payments Paid	0.00	 	 
	 	Total Other Collected	 	0.00	 	Total
    Payments to Certificateholders & Others	 	0.00	 
	 	Total Funds Collected	 	0.00	 	Total Funds Distributed	 	0.00	 
	 	 	 	 	 	 	 	 	 

 

    Page 6 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled Balance	 	State   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled

    Balance	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	State	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	  See footnotes on last page of this section.	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 7 of 24

     

    
 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt Service Coverage Ratio	 	Property Type   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt
    Service

    Coverage Ratio	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Property
    Type	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note Rate	 	Seasoning	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note

    Rate	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Seasoning	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	See footnotes on last page
    of this section.	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 8 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 
	 	Anticipated Remaining Term
    (ARD and Balloon Loans)	 	Remaining Stated Term (Fully
    Amortizing Loans)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Anticipated
    Remaining

    Term (2)	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Remaining
    Stated

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining Amortization
    Term (ARD and Balloon Loans)	 	Age of Most Recent NOI	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining
    Amortization

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Age
    of Most

    Recent NOI	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	

(1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases, the most recent DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is used. The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation.

	 
	 	 	 
	 	(2) Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date.	 
	 	 	 
	 	(3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date balance of each property as disclosed in the offering document.	 
	 	 	 	 	 

 

    Page 9 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Mortgage
    Loan Detail	 
	 	 	 
	 	Loan

    Number	ODCR
    	Property

    Type (1)	City	State	Interest

    Payment	Principal

    Payment	Gross

    Coupon
    	Anticipated
    

    Repayment

    Date	Maturity

    Date	Neg.

    Amort

    (Y/N)	Beginning

    Scheduled

    Balance	Ending

    Scheduled

    Balance	Paid

    Thru

    Date	Appraisal

    Reduction

    Date	Appraisal

    Reduction

    Amount	Res.

    Strat.

    (2)	Mod.

    Code

    (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Property Type Code	(2)
    Resolution Strategy Code	(3)
    Modification Code
	 	 	 
	 	MF 	-	Multi-Family	OF	-	Office	1	-	Modification	6	-	DPO	10	-	Deed in Lieu Of	1	-	Maturity Date Extension	6	-	Capitalization of Interest	 
	 	RT 	-	Retail	MU	-	Mixed Use	2 	-	Foreclosure	7	-	REO	 	 	     Foreclosure	2	-	Amortization Change	7	-	Capitalization of Taxes	 
	 	HC	-	Health Care	LO	-	Lodging	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	3	-	Principal Write-Off	8	-	Principal Write-Off	 
	 	IN  	-	Industrial	SS	-	Self Storage	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	4	-	Blank	9	-	Combination	 
	 	WH	-	Warehouse	OT	-	Other	5	-	Note Sale	 	 	   to Master Servicer	13	-	Other or TBD	5	-	Temporary Rate Reduction	 	 	 	 
	 	MH 	-	Mobile Home Park	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 10 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 
	 	NOI Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	ODCR	Property

    Type	City	State	Ending

    Scheduled

    Balance	Most

    Recent

    Fiscal NOI	Most

    Recent

    NOI	Most
    Recent

    NOI Start

    Date	Most
    Recent

    NOI End

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Total	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 11 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 
	 	Principal Prepayment Detail	 
	 	 	 	 	 	 	 	 	 
	 	Loan Number	Loan Group	Offering
    Document	Principal
    Prepayment Amount	Prepayment
    Penalties	 
	 	Cross-Reference	Payoff
    Amount	Curtailment
    Amount	Prepayment
    Premium	Yield
    Maintenance Premium	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    Page 12 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquencies	Prepayments	Rate
    and Maturities	 
	 	Distribution	30-59
    Days	60-89
    Days	90
    Days or More	Foreclosure	REO	Modifications	Curtailments	Payoff	Next
    Weighted Avg.	 	 
	 	Date	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	Coupon	Remit	WAM	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note: Foreclosure and REO Totals are excluded from the
    delinquencies.	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 13 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquency Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering

    Document

    Cross-Reference	#
    of

    Months

    Delinq.	Paid
    Through

    Date	Current

    P & I

    Advances	Outstanding

    P & I

    Advances **	Status
    of

    Mortgage

    Loan  (1)	Resolution

    Strategy

    Code  (2)	Servicing
Transfer Date	Foreclosure

    Date	Actual

    Principal

    Balance	Outstanding

    Servicing

    Advances	Bankruptcy

    Date	REO

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	(1)
    Status of Mortgage Loan	 	 	(2)
    Resolution Strategy Code	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 A	-	Payment Not Received	0	-   Current	4	-	Assumed Scheduled Payment	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 	 
	 	 	 	 	But Still in Grace Period	1	-   One Month Delinquent	 	 	(Performing Matured Balloon)	2 	-	Foreclosure	7	-	REO	 	 	     Foreclosure	 	 
	 	 	 	 	Or Not Yet Due	2	-   Two Months Delinquent	5	-	Non Performing Matured Balloon	3 	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 	 
	 	 	 B	-	Late Payment But Less	3	-   Three or More Months Delinquent	 	 	 	4 	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 	 
	 	 	 	 	Than 1 Month Delinquent	 	 	 	 	 	5 	-	Note Sale	 	 	     to Master Servicer	13	-	Other or TBD	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 ** Outstanding
    P & I Advances include the current period advance.	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 14 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially Serviced Loan
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Servicing

    Transfer

    Date	Resolution

    Strategy

    Code (1)	Scheduled

    Balance	Property

    Type (2)	State	Interest

    Rate	Actual

    Balance	Net

    Operating

    Income	NOI

    Date	DSCR	Note

    Date	Maturity

    Date	Remaining

    Amortization

    Term	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1) Resolution Strategy Code	(2) Property Type Code          	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	1	-   Modification	6	-	DPO	10	-	Deed In Lieu Of	MF	-	 Multi-Family	OF	-	Office	 
	 	2	-   Foreclosure	7	-	REO	 	 	Foreclosure	RT	-	 Retail	MU	-	Mixed use	 
	 	3	-   Bankruptcy	8	-	Resolved	11	-	Full Payoff	HC	-	 Health Care	LO	-	Lodging	 
	 	4	-   Extension	9	-	Pending Return	12	-	Reps and Warranties	IN	-	 Industrial	SS	-	Self Storage	 
	 	5	-   Note Sale	 	 	to Master Servicer	13	-	Other or TBD	WH	-	 Warehouse	OT	-	Other	 
	 	 	 	 	 	 	 	 	 	MH	-	 Mobile Home Park	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 15 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially
    Serviced Loan Detail - Part 2	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Resolution

    Strategy

    Code (1)	Site

    Inspection

    Date	Phase 1 Date
	Appraisal
Date	Appraisal

    Value	Other
    REO

    Property Revenue	Comment	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Resolution Strategy Code
	 	 	 	 	 	 	 	 	 	 	 
	 	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 
	 	2	-	Foreclosure	7	-	REO	 	 	Foreclosure	 
	 	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 
	 	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 
	 	5	-	Note Sale	 	 	to Master Servicer	13	-	Other or TBD	 
	 	 	 	 	 	 	 	 	 	 	 

 

    Page 16 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 
	Advance
    Summary
	 	 	 	 	 	 	 
	 	 	Current
    P&I

    Advances	Outstanding
    P&I

    Advances	Outstanding
    Servicing

    Advances	Current
    Period Interest

    on P&I and Servicing

    Advances Paid	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	Totals	0.00	0.00	0.00	0.00	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    Page 17 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 
	 	Modified Loan Detail	 
	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	Offering

    Document

    Cross-Reference	Pre-Modification

    Balance	Post-Modification

    Balance	Pre-Modification

    Interest Rate	Post-Modification

    Interest Rate	Modification

    Date	Modification
    Description	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    Page 18 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Liquidated
    Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	ODCR	Beginning

    Scheduled

    Balance	Fees,

    Advances,

    and Expenses *	Most
    Recent

    Appraised

    Value or BPO	Gross
    Sales

    Proceeds or

    Other Proceeds	Net
    Proceeds

    Received on

    Liquidation	Net
    Proceeds

    Available for

    Distribution	Realized
    

    Loss to Trust	Date
    of Current

    Period Adj.

    to Trust	Current
    Period

    Adjustment

    to Trust	Cumulative

    Adjustment

    to Trust	Loss
    to Loan

    with Cum

    Adj. to Trust	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	Cumulative
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	*
    Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 19 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Bond/Collateral
    Loss Reconciliation Detail	 
	 	 	 
	 	Distribution

    Date	 	 	Offering

    Document

    Cross-Reference	 	 	Beginning

    Balance

    at Liquidation	 	 	Aggregate

    Realized Loss

    on Loans	 	 	Prior
    Realized

    Loss Applied

    to Certificates	 	 	Amounts

    Covered by

    Credit Support	 	 	Interest

    (Shortages)/

    Excesses	 	 	Modification

    /Appraisal

    Reduction Adj.	 	 	Additional

    (Recoveries)

    /Expenses	 	 	Realized
    Loss

    Applied to

    Certificates to Date	 	 	Recoveries
    of

    Realized Losses

    Paid as Cash	 	 	(Recoveries)/

    Losses Applied to

    Certificate Interest	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	   	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 20 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-

Reference	 	 	Stated

    Principal

    Balance at

    Contribution	 	 	Current

    Ending

    Scheduled

    Balance	 	 	Special
    Servicing Fees	 	 	ASER	 	 	(PPIS)
    Excess	 	 	Non-Recoverable

    (Scheduled

    Interest)	 	 	Interest
    on

    Advances	 	 	Modified
    Interest

    Rate (Reduction)

    /Excess	 
	Monthly	 	 	Liquidation	 	 	Work
    Out
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    Page 21 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 2	 
	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-Reference	Stated
    Principal

    Balance at

    Contribution	Current
    Ending

    Scheduled

    Balance	Reimb
    of Advances to the Servicer	Other
    (Shortfalls)/

    Refunds	Comments	 
	Current
    Month	Left
    to Reimburse

    Master Servicer
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 2 Total	0.00	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 1 Total	0.00	 	 	 
	 	Total Interest
    Shortfall Allocated to Trust	0.00	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    Page 22 of 24

     

    

 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Defeased
    Loan Detail
	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering
    Document

    Cross-Reference	Ending
    Scheduled

    Balance	Maturity
    Date	Note
    Rate	Defeasance
    Status	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    Page 23 of 24

     

    
 

	 	 	 	 
		BBCMS Mortgage Trust 2019-C3

Commercial Mortgage Pass-Through Certificates

Series 2019-C3	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Distribution Date:	7/17/19
	8480 Stagecoach Circle	Record Date:	6/28/19
	Frederick, MD 21701-4747	Determination Date:	7/11/19

	 	 	 
	 	 	 
	 	Supplemental Reporting	 
	 	 	 
	 	 

 

	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    Page 24 of 24

     

    

 

 

 

EXHIBIT H

FORM OF OMNIBUS ASSIGNMENT

 

[NAME OF CURRENT ASSIGNOR]
having an address at [ADDRESS OF CURRENT ASSIGNOR] (the “Assignor”) for good and valuable consideration, the
receipt and sufficiency of which are acknowledged, hereby sells, transfers, assigns, delivers, sets over and conveys, without recourse,
representation or warranty, express or implied, unto “Wells Fargo Bank, National Association, as Trustee for the registered
holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3” (the “Assignee”),
having an office at 9062 Old Annapolis Road, Columbia, Maryland 21045, Attention: Corporate Trust Services: BBCMS 2019-C3, its
successors and assigns, all right, title and interest of the Assignor in and to:

 

That certain mortgage
and security agreement, deed of trust and security agreement, deed to secure debt and security agreement, or similar security instrument
(the “Security Instrument”), and that certain Promissory Note (the “Mortgage Note”), for
each of the Mortgage Loans shown on the Mortgage Loan Schedule attached hereto as Exhibit B, and that certain assignment
of leases and rents given in connection therewith and all of the Assignor’s right, title and interest in any claims, collateral,
insurance policies, certificates of deposit, letters of credit, escrow accounts, performance bonds, demands, causes of action and
any other collateral arising out of and/or executed and/or delivered in or to or with respect to the Security Instrument and the
Mortgage Note, together with any other documents or instruments executed and/or delivered in connection with or otherwise related
to the Security Instrument and the Mortgage Note.

 

IN WITNESS WHEREOF, the
Assignor has executed this instrument under seal to be effective as of the [__] day of [_____________], 20[__].

 

		[NAME OF CURRENT ASSIGNOR]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    H-1

     

    

 

EXHIBIT I

FORM OF TRANSFER CERTIFICATE FOR RULE 144A

BOOK-ENTRY CERTIFICATE TO TEMPORARY REGULATION S

BOOK-ENTRY CERTIFICATE DURING RESTRICTED PERIOD

(Exchanges or transfers pursuant to Section 5.03(c)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Book-Entry Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear] [Clearstream]*
(Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”),
and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

 

*        Select
appropriate depository.

 

    I-1

     

    

 

[(2)      at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States;]**

 

[(2)      the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator, the Operating Advisor,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer and the Initial Purchasers.

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

 

**
       Insert one of these two provisions, which come from the definition of “offshore
transaction” in Regulation S.

 

    I-2

     

    

 

EXHIBIT J

FORM OF TRANSFER CERTIFICATE FOR RULE 144A BOOK-ENTRY 

CERTIFICATE TO REGULATION S BOOK-ENTRY CERTIFICATE AFTER 

RESTRICTED PERIOD 

(Exchange or transfers pursuant to Section 5.03(d)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

     as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Book-Entry Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in accordance with Regulation
S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”), and
accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    J-1

     

    

 

[(2)      at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States,]*

 

[(2)       the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator, the Operating Advisor,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer and the Initial Purchasers.

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

   

Dated: ________

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

 

*
       Insert one of these two provisions, which come from the definition of “offshore
transaction” in Regulation S.

 

    J-2

     

    

 

EXHIBIT K

FORM OF TRANSFER CERTIFICATE FOR TEMPORARY REGULATION S BOOK-

ENTRY CERTIFICATE TO RULE 144A BOOK-ENTRY CERTIFICATE DURING

RESTRICTED PERIOD 

(Exchange or transfers pursuant to Section 5.03(e)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

          as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS Mortgage
                                         Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No.
[______] and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository in the
name of [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer
of such beneficial interest for a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities
Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account, or
for one or more accounts with respect to which the transferee exercises sole investment discretion, and the transferee and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A in each case in a transaction meeting
the requirements of Rule 144A and

 

 

*
       Select appropriate depository.

 

    K-1

     

    

 

in accordance with any applicable securities laws of any state of the United States or other
applicable jurisdiction.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator, the Operating Advisor,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer and the Initial Purchasers.

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

Dated: _______

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

    K-2

     

    

 

EXHIBIT L

FORM OF TRANSFER CERTIFICATE FOR TEMPORARY REGULATION S BOOK-

ENTRY CERTIFICATE TO REGULATION S BOOK-ENTRY CERTIFICATE AFTER 

RESTRICTED
PERIOD

 

(Exchanges pursuant to Section 5.03(f)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

 as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

[For purposes of acquiring
a beneficial interest in a Regulation S Book-Entry Certificate of the Class specified above after the expiration of the Restricted
Period,] [For purposes of receiving payments under a Temporary Regulation S Book-Entry Certificate of the Class specified above,]*
the undersigned holder of a beneficial interest in a Temporary Regulation S Book-Entry Certificate of the Class specified above
issued under the Pooling and Servicing Agreement certifies that it is not a U.S. Person as defined by Regulation S under the Securities
Act of 1933, as amended.

 

We undertake to advise
you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification relating to the
Certificates of the Class specified above held by you for our account if any applicable statement herein is not correct on such
date, and in the absence of any such notification it may be assumed that this certification applies as of such date.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we

 

 

*
       Select, as applicable.

 

    L-1

     

    

 

irrevocably authorize you to produce this
certificate to any interested party in such proceeding. This certificate and the statements contained herein are made for your
benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer and the Initial Purchasers.

 

		Dated:________________
	 	 
	 	By:	 
	 	 	as, or as agent for, the holder of a beneficial interest in the Certificates to which this certificate relates.

 

    L-2

     

    

 

EXHIBIT M

FORM OF TRANSFER CERTIFICATE FOR NON-BOOK ENTRY CERTIFICATE TO 

TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE 

(Exchanges or transfers pursuant to Section 5.03(g)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No. [______] and ISIN No. [______])
to be held with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository.

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”),
and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

 

*
       Select appropriate depository.

 

    M-1

     

    

 

[(2) at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States;]**

 

[(2) the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Initial Purchasers. 

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ________

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

 

**
       Insert one of these two provisions, which come from the definition of “offshore
transaction” in Regulation S.

 

    M-2

     

    

 

EXHIBIT N

FORM OF TRANSFER CERTIFICATE FOR NON-BOOK ENTRY CERTIFICATE TO 

REGULATION S BOOK-ENTRY CERTIFICATE 

(Exchange or transfers pursuant to Section
5.03(g)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Regulation S Book-Entry Certificate (CINS No. [______], ISIN No. [______], and Common Code No.
[______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in accordance with Regulation
S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”), and
accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    N-1

     

    

 

[(2)     at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States,]*

 

[(2)     the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Initial Purchasers.

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

Dated: ________

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

 

*
       Insert one of these two provisions, which come from the definition of “offshore
transaction” in Regulation S.

 

    N-2

     

    

 

EXHIBIT O

FORM OF TRANSFER CERTIFICATE FOR NON-BOOK ENTRY CERTIFICATE

TO RULE 144A BOOK-ENTRY CERTIFICATE 

(Exchange or transfers pursuant to Section 5.03(g)

of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association,

      as Certificate Registrar

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS Mortgage
                                         Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3, Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such beneficial interest for a beneficial
interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities
Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account, or
for one or more accounts with respect to which the transferee exercises sole investment discretion, and the transferee and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A in each case in a transaction meeting
the requirements of Rule 144A and in accordance with any applicable securities laws of any state of the United States or other
applicable jurisdiction.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are

 

    O-1

     

    

 

commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Initial Purchasers.

 

		[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

Dated: ________

 

		cc:	Barclays Commercial Mortgage Securities LLC

 

    O-2

     

    

 

EXHIBIT P-1A

FORM OF INVESTOR CERTIFICATION for Non-Borrower Party

(for Persons other than the DIRECTING CERTIFICATEHOLDER and/or a Controlling 

Class Certificateholder)

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

trustadministrationgroup@wellsfargo.com

cts.cmbs.bond.admin@wellsfargo.com

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class Certificates 

 

In accordance with the
Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between Barclays
Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master
Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha
Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, with respect to the certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is either (a) a Certificateholder, a beneficial owner or a prospective purchaser of the above-referenced Class [__]
Certificates or (b) a Companion Holder (or any investment advisor or manager or other representative of the foregoing).

 

2.       The
undersigned is neither the Directing Certificateholder nor a Controlling Class Certificateholder.

 

3.       In
the case that the undersigned is a Certificateholder, beneficial owner or prospective purchaser of an Offered Certificate, the
undersigned has received a copy of the Prospectus.

 

4.       The
undersigned is not a Borrower Party.

 

5.       The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement. In consideration
of the disclosure to the undersigned of the Information, or the access thereto, the

 

    P-1A-1

     

    

 

undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part; provided, however, that the obligations of the undersigned to keep
any such Information confidential shall expire one year following the date that the undersigned receives such Information (with
respect to a prospective purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the
Class of Certificates referenced above. The undersigned will not use or disclose the Information in any manner which could result
in a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

6.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating
Advisor, the Asset Representations Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability
or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the Certificate
Administrator’s Website.

 

8.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused its name to
be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-1A-2

     

    

 

EXHIBIT
P-1B

FORM OF INVESTOR CERTIFICATION FOR NON-BORROWER PARTY (FOR THE

DIRECTING
CERTIFICATEHOLDER AND/OR A CONTROLLING CLASS

CERTIFICATEHOLDER)

 

[Date]

 

	Midland
    Loan Services, a Division of PNC Bank, National Association

    10851 Mastin Street, Suite 700

    Overland Park, Kansas 66210

    Attention: Executive Vice President – Division Head

    Fax Number: (888) 706-3565	Wells
    Fargo Bank, National Association

    9062 Old Annapolis Road

    Columbia, Maryland 21045-1951

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

    trustadministrationgroup@wellsfargo.com

    cts.cmbs.bond.admin@wellsfargo.com
	 	 
	Pentalpha
                                         Surveillance LLC

                                         375 N. French Road, Suite 100
 Amherst,
                                         New York 14228
 Attention: BBCMS 2019-C3 Transaction
                                         Manager
 

                                                         
	Wells
    Fargo Bank, National Association

    600 South 4th Street, 7th Floor

    MAC N9300-070

    Minneapolis, Minnesota 55479

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3
	with
                                         a copy sent via email to:

                                                         notices@pentalphasurveillance.com
                                         
 (with BBCMS 2019-C3 in the subject line)
	 

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class Certificates 

 

In
accordance with the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, with respect to the certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is either the Directing Certificateholder, the Holder of a majority of the Controlling Class or a Controlling Class
Certificateholder.

 

2.       The
undersigned has received a copy of the Prospectus.

 

3.       The
undersigned is not a Borrower Party.

 

    P-1B-1

     

    

 

4.       The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website [and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement]. In consideration
of the disclosure to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part; provided, however, that the obligations of the undersigned to keep
any such Information confidential shall expire one year following the date that the undersigned receives such Information (with
respect to a prospective purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the
Class of Certificates referenced above. The undersigned will not use or disclose the Information in any manner which could result
in a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

5.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.       At
any time the undersigned becomes a Borrower Party with respect to any Mortgage Loan or Whole Loan, the undersigned shall deliver
the certification attached as Exhibit P-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties
the notices attached as Exhibit P-1E and Exhibit P-1F to the Pooling and Servicing Agreement.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the
Certificate Administrator’s Website.

 

8.       [For
use with any party other than the initial Directing Certificateholder]The undersigned hereby certifies that an executed copy of
this certification in [paper][electronic click-through] form has been delivered in accordance with the notice provisions of the
Pooling and Servicing Agreement to the applicable Information provider listed above [(a) by overnight courier or (b) mailed by
registered mail, postage prepaid].

 

9.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

    P-1B-2

     

    

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-1B-3

     

    

 

EXHIBIT
P-1C

FORM OF INVESTOR CERTIFICATION FOR BORROWER PARTY (FOR PERSONS

OTHER
THAN THE DIRECTING CERTIFICATEHOLDER AND/OR A

CONTROLLING
CLASS CERTIFICATEHOLDER)

 

[Date]

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

trustadministrationgroup@wellsfargo.com

cts.cmbs.bond.admin@wellsfargo.com

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax Number: (888) 706-3565

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class Certificates 

 

In
accordance with the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, with respect to the certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is either (a) a Certificateholder, a beneficial owner or a prospective purchaser of the above-referenced Class [__]
Certificates or (b) a Companion Holder (or any investment advisor or manager or other representative of the foregoing).

 

2.       The
undersigned is neither the Directing Certificateholder nor a Controlling Class Certificateholder.

 

3.       In
the case that the undersigned is a Certificateholder, a beneficial owner or prospective purchaser of an Offered Certificate, the
undersigned has received a copy of the Prospectus.

 

4.       The
undersigned is a Borrower Party.

 

    P-1C-1

     

    

 

5.       The
undersigned is requesting access to the Distribution Date Statement pursuant to the Pooling and Servicing Agreement. In consideration
of the disclosure to the undersigned of the Distribution Date Statement, or the access thereto, the undersigned will keep the
Distribution Date Statement confidential (except from such outside persons as are assisting it in making an evaluation in connection
with purchasing the related Certificates, from its accountants and attorneys, and otherwise from such governmental or banking
authorities or agencies to which the undersigned is subject), and such Distribution Date Statement will not, without the prior
written consent of the Depositor, be otherwise disclosed by the undersigned or by its officers, directors, partners, employees,
agents or representatives (collectively, the “Representatives”) in any manner whatsoever, in whole or in part;
provided, however, that the obligations of the undersigned to keep any such Distribution Date Statement confidential
shall expire one year following the date that the undersigned receives such Distribution Date Statement (with respect to a prospective
purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates
referenced above. The undersigned will not use or disclose the Distribution Date Statement in any manner which could result in
a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

6.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Distribution Date Statement
on the Certificate Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine
or verify whether the undersigned has properly certified or recertified under this Investor Certification any time the undersigned
accesses the Certificate Administrator’s Website.

 

8.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-1C-2

     

    

 

EXHIBIT
P-1D

FORM OF INVESTOR CERTIFICATION FOR BORROWER PARTY

(FOR THE DIRECTING CERTIFICATEHOLDER AND/OR A

CONTROLLING CLASS CERTIFICATEHOLDER)

 

[Date]

 

	Midland
    Loan Services, a Division of PNC Bank, National Association

    10851 Mastin Street, Suite 700

    Overland Park, Kansas 66210

    Attention: Executive Vice President – Division Head

    Fax Number: (888) 706-3565	Wells
    Fargo Bank, National Association

    9062 Old Annapolis Road

    Columbia, Maryland 21045-1951

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

    trustadministrationgroup@wellsfargo.com

    cts.cmbs.bond.admin@wellsfargo.com
	 	 
	Pentalpha
                                         Surveillance LLC

                                         375 N. French Road, Suite 100
 Amherst,
                                         New York 14228
 Attention: BBCMS 2019-C3 Transaction
                                         Manager
 

                                                          

                                                         with
                                         a copy sent via email to: 

notices@pentalphasurveillance.com 

                                         (with BBCMS 2019-C3 in the subject line)
	Wells
                                         Fargo Bank, National Association

                                         600 South 4th Street, 7th Floor

                                         MAC N9300-070
 Minneapolis,
                                         Minnesota 55479
 Attention: Corporate Trust Services
                                         (CMBS)
 BBCMS Mortgage Trust 2019-C3

                                                          

                                                          

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class Certificates 

 

In
accordance with the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, with respect to the certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is the Directing Certificateholder, the Holder of the majority of the Controlling Class or a Controlling Class Certificateholder.

 

2.       The
undersigned is a Borrower Party with respect to the following Excluded Loan(s):

 

[IDENTIFY
EXCLUDED LOAN(S)] (the “Excluded Loan(s)”)

 

    P-1D-1

     

    

 

The
undersigned is not a Borrower Party with respect to any other Mortgage Loan.

 

3.       The
undersigned has received a copy of the Prospectus.

 

4.       Except
with respect to the Excluded Loan(s), the undersigned is requesting access pursuant to the Pooling and Servicing Agreement to
certain information (the “Information”) on the Certificate Administrator’s Website [and/or is requesting
the information identified on the schedule attached hereto (also, the “Information”) pursuant to the provisions
of the Pooling and Servicing Agreement]. In consideration of the disclosure to the undersigned of the Information, or the access
thereto, the undersigned will keep the Information confidential (except from such outside persons as are assisting it in making
an evaluation in connection with purchasing the related Certificates, from its accountants and attorneys, and otherwise from such
governmental or banking authorities or agencies to which the undersigned is subject), and such Information will not, without the
prior written consent of the Depositor, be otherwise disclosed by the undersigned or by its officers, directors, partners, employees,
agents or representatives (collectively, the “Representatives”) in any manner whatsoever, in whole or in part;
provided, however, that the obligations of the undersigned to keep any such Information confidential shall expire
one year following the date that the undersigned receives such Information (with respect to a prospective purchaser only) or is
no longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates referenced above. The
undersigned will not use or disclose the Information in any manner which could result in a violation of any provision of the Securities
Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would
require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.       The
undersigned hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as
defined in the Pooling and Servicing Agreement) relating to the Excluded Loan(s) to the extent the undersigned receives access
to such Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information
in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.

 

6.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       To
the extent the undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise
receives access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or
indirectly provide any such Excluded Information to (A) the related Borrower Party, (B) any related Excluded Controlling Class
Holder, (C) any employees or personnel of the undersigned or any of its Affiliates involved in the management of any investment
in the related Borrower Party or the related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate that holds a
direct or indirect ownership interest in the related Borrower Party, and (ii) will maintain sufficient 

 

    P-1D-2

     

    

 

internal
controls and appropriate policies and procedures in place in order to comply with the obligations described in clause (i)
above.

 

8.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the
Certificate Administrator’s Website.

 

9.       The
undersigned hereby certifies that an executed copy of this certification in [paper][electronic click-through] form has been delivered
in accordance with the notice provisions of the Pooling and Servicing Agreement to the applicable Information provider listed
above [(a) by overnight courier or (b) mailed by registered mail, postage prepaid].

 

10.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-1D-3

     

    

 

EXHIBIT
P-1E

FORM OF NOTICE OF EXCLUDED CONTROLLING CLASS HOLDER

 

[Date]

 

	Midland
    Loan Services, a Division of PNC Bank, National Association

    10851 Mastin Street, Suite 700

    Overland Park, Kansas 66210

    Attention: Executive Vice President – Division Head

    Fax Number: (888) 706-3565	Wells
    Fargo Bank, National Association

    9062 Old Annapolis Road

    Columbia, Maryland 21045-1951

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

    trustadministrationgroup@wellsfargo.com

    cts.cmbs.bond.admin@wellsfargo.com
	 	 
	Pentalpha
                                         Surveillance LLC

                                         375 N. French Road, Suite 100
 Amherst,
                                         New York 14228
 Attention: BBCMS 2019-C3 Transaction
                                         Manager
 

                                                                                 

                                                                                with
                                         a copy sent via email to:

                                                                                notices@pentalphasurveillance.com
                                         
 (with
                                         BBCMS 2019-C3 in the subject line)
	Wells
    Fargo Bank, National Association

    600 South 4th Street, 7th Floor

    MAC N9300-070

    Minneapolis, Minnesota 55479

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Class Certificates 

 

THIS
NOTICE IDENTIFIES AN “EXCLUDED LOAN” RELATING TO THE BBCMS MORTGAGE TRUST 2019-C3, COMMERCIAL MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 2019-C3, REQUIRING ACTION BY YOU AS THE RECIPIENT PURSUANT TO SECTION 3.13(b) OF THE POOLING AND SERVICING
AGREEMENT.

 

In
accordance with Section 3.13(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the
“Certificates”), the undersigned (the “Excluded Controlling Class Holder”) hereby certifies
and agrees as follows:

 

1.       The
undersigned is [the Directing Certificateholder][the Holder of the majority of the Controlling Class][a Controlling Class Certificateholder]
as of the date hereof.

 

2.       The
undersigned has become a Borrower Party with respect to the following [Mortgage Loan(s)] [and] [Whole Loan(s)] (the “Excluded
Loan(s)”):

 

    P-1E-1

     

    

 

	Loan
    Number	ODCR	Loan
    Name	Borrower
    Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

3.       As
of the date above, the undersigned is the beneficial owner of the following certificates, and is providing the below information
to the addressees hereto for purposes of their compliance with the Pooling and Servicing Agreement, including, among other things,
the Certificate Administrator’s determination as to whether a Consultation Termination Event is in effect with respect to
the Excluded Loans listed in paragraph 2 if any such mortgage loan is an Excluded Loan:

 

	CUSIP	Class	Outstanding

                                                                                Certificate
                                         Balance
	Initial
                                         Certificate

                                                                                Balance

	 	 	 	 
	 	 	 	 
	 	 	 	 

 

The
undersigned is not a Borrower Party with respect to any other Mortgage Loan.

 

4.       Except
with respect to the Excluded Loan(s), the undersigned is requesting access pursuant to the Pooling and Servicing Agreement to
certain information (the “Information”) on the Certificate Administrator’s Website [and/or is requesting
the information identified on the schedule attached hereto (also, the “Information”) pursuant to the provisions
of the Pooling and Servicing Agreement]. In consideration of the disclosure to the undersigned of the Information, or the access
thereto, the undersigned will keep the Information confidential (except from such outside persons as are assisting it in making
an evaluation in connection with purchasing the related Certificates, from its accountants and attorneys, and otherwise from such
governmental or banking authorities or agencies to which the undersigned is subject), and such Information will not, without the
prior written consent of the Depositor, be otherwise disclosed by the undersigned or by its officers, directors, partners, employees,
agents or representatives (collectively, the “Representatives”) in any manner whatsoever, in whole or in part;
provided, however, that the obligations of the undersigned to keep any such Information confidential shall expire
one year following the date that the undersigned receives such Information (with respect to a prospective purchaser only) or is
no longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates referenced above. The
undersigned will not use or disclose the Information in any manner which could result in a violation of any provision of the Securities
Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would
require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.       The
undersigned hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as
defined in the Pooling and Servicing Agreement) relating to the Excluded Loan(s) to the extent the undersigned receives access
to such Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information
in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.

 

    P-1E-2

     

    

 

6.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer, the Underwriters, the Initial Purchasers and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       To
the extent the undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise
receives access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or
indirectly provide any such Excluded Information to (A) the related Borrower Party, (B) any related Excluded Controlling Class
Holder, (C) any employees or personnel of the undersigned or any of its Affiliates involved in the management of any investment
in the related Borrower Party or the related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate that holds a
direct or indirect ownership interest in the related Borrower Party, and (ii) will maintain sufficient internal controls and appropriate
policies and procedures in place in order to comply with the obligations described in clause (i) above.

 

8.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the
Certificate Administrator’s Website.

 

9.       The
undersigned hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the
notice provisions of the Pooling and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b)
mailed by registered mail, postage prepaid.

 

10.     The
undersigned is simultaneously providing notice to the Certificate Administrator in the form of Exhibit P-1F to the Pooling and
Servicing Agreement, requesting termination of access to any Excluded Information. The undersigned acknowledges that it is not
permitted to access and shall not access any Excluded Information relating to the Excluded Loan(s) on the Certificate Administrator’s
Website unless and until it has (i) delivered notice of the termination of the related Excluded Controlling Class Holder status
and (ii) submitted a new investor certification in accordance with Section 3.13(b) of the Pooling and Servicing Agreement.

 

11.     The
undersigned agrees to indemnify and hold harmless each party to the Pooling and Servicing Agreement, the Underwriters, the Initial
Purchasers and the Trust Fund from any damage, loss, cost or liability (including legal fees and expenses and the cost of enforcing
this indemnity) arising out of or resulting from any unauthorized access by the undersigned or any agent, employee, representative
or person acting on its behalf of any Excluded Information relating to the Excluded Loan(s) listed in Paragraph 2 above.

 

Capitalized
terms used but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

    P-1E-3

     

    

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified. 

 

	 	[Directing
    Certificateholder] [Holder of the 

	 	 	majority of
    the Controlling Class]
	 	 	[Controlling
    Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated:
_______

 

		cc:	Barclays
                                         Commercial Mortgage Securities LLC

 

    P-1E-4

     

    

 

EXHIBIT
P-1F

FORM OF NOTICE OF [EXCLUDED LOAN] [EXCLUDED CONTROLLING CLASS

HOLDER]
TO CERTIFICATE ADMINISTRATOR

 

[Date]

 

Via:
Email

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services (CMBS)

BBCMS Mortgage Trust 2019-C3

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

with
a copy to:

Wells Fargo Bank, National Association,

8480 Stagecoach Circle

Frederick, Maryland 21701-4747

Attention: BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         

 

In
accordance with Section 3.13(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the
“Certificates”), the undersigned (the “Excluded Controlling Class Holder”) hereby directs
you as follows:

 

1.       The
undersigned is [the Directing Certificateholder][the Holder of the majority of the Controlling Class][a Controlling Class Certificateholder]
as of the date hereof.

 

2.       The
undersigned has become a Borrower Party with respect to the following [Mortgage Loan(s)] [and] [Whole Loan(s)] (the “Excluded
Loan(s)”):

 

	Loan
    Number	ODCR	Loan
    Name	Borrower
    Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

3.       The
following USER IDs for CTSLink are affiliated with the undersigned and access to any information on the Certificate Administrator’s
Website with respect to the BBCMS Mortgage Trust 2019-C3 securitization should be revoked as to such users:

 

    P-1F-1

     

    

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

4.       The
undersigned acknowledges that it is not permitted to access and shall not access any Excluded Information with respect to such
Excluded Loan(s) on the Certificate Administrator’s Website unless and until it (i) is no longer an Excluded Controlling
Class Holder with respect to such Excluded Loan(s), (ii) has delivered notice of the termination of the related Excluded Controlling
Class Holder status and (iii) has submitted an investor certification in the form of Exhibit P-1B to the Pooling and Servicing
Agreement.

 

Capitalized
terms used but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	[Directing
    Certificateholder] [Holder of the 
	 	 	majority
    of the Controlling Class]
	 	 	[Controlling
    Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

Dated:
_______

 

		cc:	Barclays
                                         Commercial Mortgage Securities LLC

 

	The
    undersigned hereby acknowledges that	 
	access
    to CTSLink has been revoked for	 
	the
    users listed in Paragraph 3.	 
	 	 
	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,	 
	Certificate
    Administrator	 
	 	 
	 	 
	Name:	 
	Title:	 

 

    P-1F-2

     

    

 

EXHIBIT
P-1G

FORM OF CERTIFICATION OF THE DIRECTING

CERTIFICATEHOLDER

 

[Date]

 

	Midland
    Loan Services, a Division of PNC Bank, National Association

    10851 Mastin Street, Suite 700

    Overland Park, Kansas 66210

    Attention: Executive Vice President – Division Head

    Fax Number: (888) 706-3565	Wells
    Fargo Bank, National Association

    9062 Old Annapolis Road

    Columbia, Maryland 21045-1951

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

    trustadministrationgroup@wellsfargo.com

    cts.cmbs.bond.admin@wellsfargo.com
	 	 
	Pentalpha
                                         Surveillance LLC

                                         375 N. French Road, Suite 100
 Amherst,
                                         New York 14228
 Attention: BBCMS 2019-C3 Transaction
                                         Manager
 

                                                          

                                                         with
                                         a copy sent via email to: 

                                         notices@pentalphasurveillance.com 
 (with
                                         BBCMS 2019-C3 in the subject line)
	Wells
    Fargo Bank, National Association

    600 South 4th Street, 7th Floor

    MAC N9300-070

    Minneapolis, Minnesota 55479

    Attention: Corporate Trust Services (CMBS)

    BBCMS Mortgage Trust 2019-C3

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         

 

In
accordance with Section 3.23 of the Pooling and Servicing Agreement, the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned has been appointed to act as the Directing Certificateholder.

 

2.       The
undersigned is not a Borrower Party.

 

3.       If
the undersigned becomes a Borrower Party with respect to any Mortgage Loan or Whole Loan, the undersigned agrees to and shall
deliver the certification attached as Exhibit P-1D to the Pooling and Servicing Agreement and shall deliver to the applicable
parties the notices attached as Exhibit P-1E and Exhibit P-1F to the Pooling and Servicing Agreement.

 

4.       [[For
Directing Certificateholders other than the initial Directing Certificateholder] The undersigned hereby certifies that an executed
copy of this certification in paper form has been delivered in accordance with the notice provisions of the Pooling and 

 

    P-1G-1

     

    

 

Servicing
Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.]

 

5.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned shall have caused, or shall be deemed to have caused its name to be signed hereto by
its duly authorized signatory, as of the date certified.

 

	 	[Directing
    Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated:
_______

 

		cc:	Barclays
                                         Commercial Mortgage Securities LLC

 

    P-1G-2

     

    

 

EXHIBIT
P-2

FORM OF CERTIFICATION FOR NRSROs

 

[Date]

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services BBCMS 2019-C3

 

		Attention:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

In
accordance with the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of
June 1, 2019 (the “Pooling and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC,
as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and as Asset Representations Reviewer, with respect to the certificates (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

1.       The
undersigned is a Rating Agency hired by the Depositor to provide ratings on the Certificates; or

 

2.       The
undersigned is a nationally recognized statistical rating organization and either (x) has provided the Depositor with the appropriate
certifications under Exchange Act Rule 17g-5(e), had access to the Depositor’s 17g-5 website prior to the Closing Date,
is requesting access pursuant to the Agreement to certain information (the “Information”) on such 17g-5 website
pursuant to the provisions of the Agreement, and agrees that any confidentiality agreement applicable to the undersigned with
respect to the information obtained from the Depositor’s 17g-5 website prior to the Closing Date shall also be applicable
to information obtained from the 17g-5 Information Provider’s Website (including without limitation, to any information
received by the Depositor for posting on the 17g-5 Information Provider’s Website), or (y), if the undersigned did not have
access to the Depositor’s 17g-5 website prior to the Closing Date, it hereby agrees that it shall be bound by the provisions
of the confidentiality agreement attached hereto as Annex A which shall be applicable to it with respect to any information
obtained from the 17g-5 Information Provider’s Website, including any information that is obtained from the section of the
17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the Closing Date.

 

The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website and the 17g-5 Information Provider’s Website.

 

    P-2-1

     

    

 

Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-2-2

     

    

 

ANNEX
A

 

CONFIDENTIALITY
AGREEMENT

 

This
Confidentiality Agreement (the “Confidentiality Agreement”) is made in connection with Barclays Capital Inc.
(together with its affiliates, the “Furnishing Entities” and each a “Furnishing Entity”)
furnishing certain financial, operational, structural and other information relating to the issuance of the BBCMS Mortgage Trust
2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 (the “Certificates”) pursuant to the
Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor (the “Depositor”), Midland Loan Services, a Division
of PNC Bank, National Association, as Master Servicer and as Special Servicer, Pentalpha Surveillance LLC, as Operating Advisor
and as Asset Representations Reviewer, Wells Fargo Bank, National Association, as Certificate Administrator, as Custodian and
as Trustee and the assets underlying or referenced by the Certificates, including the identity of, and financial information with
respect to borrowers, sponsors, guarantors, managers and lessees with respect to such assets (together, the “Collateral”)
to you (the “NRSRO”) through the website of Wells Fargo Bank, National Association, as 17g-5 Information Provider
under the Pooling and Servicing Agreement, including the [section of the 17g-5 Information Provider’s Website that hosts
the Depositor’s 17g-5 website after the Closing Date (as defined in the Pooling and Servicing Agreement)]. Information provided
by each Furnishing Entity is labeled as provided by the specific Furnishing Entity.

 

Definition
of Confidential Information. For purposes of this Confidentiality Agreement, the term “Confidential Information”
shall include the following information (irrespective of its source or form of communication, including information obtained by
you through access to this site) that may be furnished to you by or on behalf of a Furnishing Entity in connection with the issuance
or monitoring of a rating with respect to the Certificates: (x) all data, reports, interpretations, forecasts, records, agreements,
legal documents and other information (such information, the “Evaluation Material”) and (y) any of the terms,
conditions or other facts with respect to the transactions contemplated by the Pooling and Servicing Agreement, including the
status thereof; provided, however, that the term Confidential Information shall not include information which:

 

was
or becomes generally available to the public (including through filing with the Securities and Exchange Commission or disclosure
in an offering document) other than as a result of a disclosure by you or a NRSRO Representative (as defined in Section 2(c)(i)
below) in violation of this Confidentiality Agreement;

 

was
or is lawfully obtained by you from a source other than a Furnishing Entity or its representatives that (i) is reasonably believed
by you to be under no obligation to maintain the information as confidential and (ii) provides it to you without any obligation
to maintain the information as confidential; or

 

is
independently developed by the NRSRO without reference to any Confidential Information.

 

    P-2-3

     

    

 

Information
to Be Held in Confidence.

 

You
will use the Confidential Information solely for the purpose of determining or monitoring a credit rating on the Certificates
and, to the extent that any information used is derived from but does not reveal any Confidential Information, for benchmarking,
modeling or research purposes (the “Intended Purpose”).

 

You
acknowledge that you are aware that the United States and state securities laws impose restrictions on trading in securities when
in possession of material, non-public information and that the NRSRO will advise (through policy manuals or otherwise) each NRSRO
Representative who is informed of the matters that are the subject of this Confidentiality Agreement to that effect.

 

You
will treat the Confidential Information as private and confidential. Subject to Section 4, without the prior written consent of
the applicable Furnishing Entity, you will not disclose to any person any Confidential Information, whether such Confidential
Information was furnished to you before, on or after the date of this Confidentiality Agreement. Notwithstanding the foregoing,
you may:

 

disclose
the Confidential Information to any of the NRSRO’s affiliates, directors, officers, employees, legal representatives, agents
and advisors (each, a “NRSRO Representative”) who, in the reasonable judgment of the NRSRO, need to know such
Confidential Information in connection with the Intended Purpose; provided, that, prior to disclosure of the Confidential
Information to a NRSRO Representative, the NRSRO shall have taken reasonable precautions to ensure, and shall be satisfied, that
such NRSRO Representative will act in accordance with this Confidentiality Agreement;

 

solely
to the extent required for compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),post the Confidential Information
to the NRSRO’s password protected website; and

 

use
information derived from the Confidential Information in connection with an Intended Purpose, if such derived information does
not reveal any Confidential Information.

 

Disclosures
Required by Law. If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory, subpoena,
civil investigatory demand, request for information or documents, deposition or similar process relating to any legal proceeding,
investigation, hearing or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing Entity
with notice as soon as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation,
and otherwise to the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request
to disclose the Confidential Information has been made so that the relevant Furnishing Entity may seek an appropriate protective
order or other reasonable assurance that confidential treatment will be accorded the Confidential Information if it so chooses.
Unless otherwise required by a court or other governmental or regulatory authority to do so, and provided that you been informed
by written notice that the related Furnishing Entity is seeking a protective order or other reasonable 

 

    P-2-4

     

    

 

assurance
for confidential treatment with respect to the requested Confidential Information, you agree not to disclose the Confidential
Information while the Furnishing Entity’s effort to obtain such a protective order or other reasonable assurance for confidential
treatment is pending. You agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order
or other reasonable assurance that confidential treatment will be accorded to the portion of the Confidential Information that
is being disclosed, at the sole expense of such Furnishing Entity; provided, however, that in no event shall the
NRSRO be required to take a position that such information should be entitled to receive such a protective order or reasonable
assurance as to confidential treatment. If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree
to comply with its terms with respect to the disclosure of the Confidential Information, at the sole expense of such Furnishing
Entity. If a protective order or other remedy is not obtained or if the relevant Furnishing Entity waives compliance with the
provisions of this Confidentiality Agreement in writing, you agree to furnish only such information as you are legally required
to disclose, at the sole expense of the relevant Furnishing Entity.

 

Obligation
to Return Evaluation Material. Promptly upon written request by or on behalf of the relevant Furnishing Entity, all material
or documents, including copies thereof, that contain Evaluation Material will be destroyed or, in your sole discretion, returned
to the relevant Furnishing Entity. Notwithstanding the foregoing, (a) the NRSRO may retain one or more copies of any document
or other material containing Evaluation Material to the extent necessary for legal or regulatory compliance (or compliance with
the NRSRO’s internal policies and procedures designed to ensure legal or regulatory compliance) and (b) the NRSRO may retain
any portion of the Evaluation Material that may be found in backup tapes or other archive or electronic media or other documents
prepared by the NRSRO and any Evaluation Material obtained in an oral communication; provided, that any Evaluation Material
so retained by the NRSRO will remain subject to this Confidentiality Agreement and the NRSRO will remain bound by the terms of
this Confidentiality Agreement.

 

Violations
of this Confidentiality Agreement.

 

The
NRSRO will be responsible for any breach of this Confidentiality Agreement by you, the NRSRO or any NRSRO Representative.

 

You
agree promptly to advise each relevant Furnishing Entity in writing of any misappropriation or unauthorized disclosure or use
by any person of the Confidential Information which may come to your attention and to take all steps reasonably requested by such
Furnishing Entity to limit, stop or otherwise remedy such misappropriation, or unauthorized disclosure or use.

 

You
acknowledge and agree that the Furnishing Entities would not have an adequate remedy at law and would be irreparably harmed in
the event that any of the provisions of this Confidentiality Agreement were not performed in accordance with their specific terms
or were otherwise breached. It is accordingly agreed that each Furnishing Entity shall be entitled to specific performance and
injunctive relief to prevent breaches of this Confidentiality Agreement and to specifically enforce the terms and provisions hereof,
in addition to any other remedy to which a Furnishing Entity may be entitled at law or in equity. It is further understood and
agreed that no failure to or delay in exercising any right, power or privilege hereunder shall preclude any other or further exercise
of any right, power or privilege.

 

    P-2-5

     

    

 

Term.
Notwithstanding the termination or cancellation of this Confidentiality Agreement and regardless of whether the NRSRO has provided
a credit rating on a Security, your obligations under this Confidentiality Agreement will survive indefinitely.

 

Governing
Law. This Confidentiality Agreement and any claim, controversy or dispute arising under the Confidentiality Agreement, the
relationships of the parties and/or the interpretation and enforcement of the rights and duties of the parties shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed within
such State.

 

Amendments.
This Confidentiality Agreement may be modified or waived only by a separate writing by the NRSRO and each Furnishing Entity.

 

Entire
Agreement. This Confidentiality Agreement represents the entire agreement between you and the Furnishing Entities relating
to the treatment of Confidential Information heretofore or hereafter reviewed or inspected by you. This agreement supersedes all
other understandings and agreements between us relating to such matters; provided, however, that, if the terms of
this Confidentiality Agreement conflict with another agreement relating to the Confidential Information that specifically states
that the terms of such agreement shall supersede, modify or amend the terms of this Confidentiality Agreement, then to the extent
the terms of this Confidentiality Agreement conflict with such agreement, the terms of such agreement shall control notwithstanding
acceptance by you of the terms hereof by entry into this website.

 

Contact
Information. Notices for each Furnishing Entity under this Confidentiality Agreement, shall be directed as set forth below:

 

Barclays
Commercial Mortgage Securities LLC

745
Seventh Avenue

New
York, New York 10019

Attention:
Daniel Vinson

 

with
a copy to:

 

Barclays
Capital Real Estate Inc.

745
Seventh Avenue

New
York, New York 10019

Attention:
Steven P. Glynn

 

    P-2-6

     

    

 

EXHIBIT
P-3

ONLINE MARKET DATA PROVIDER CERTIFICATION

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services BBCMS 2019-C3

 

		Attention:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

This Certification has been prepared for provision of information to the market data providers
listed in Paragraph 1 below pursuant to the direction of the Depositor. If you represent a Market Data Provider not listed herein
and would like access to the information, please contact CTSLink at 866-846-4526, or at ctslink.customerservice@wellsfargo.com.

 

In
accordance with the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of
June 1, 2019 (the “Pooling and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC,
as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and as Asset Representations Reviewer, with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is an employee or agent of Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc., BlackRock Financial Management, Inc.,
Interactive Data Corp., CMBS.com, Inc., Markit Group Limited, Moody’s Analytics, MBS Data LLC or Thomson Reuters Corporation,
a market data provider that has been given access to the Statements to Certificateholders, CREFC® Reports and supplemental
notices on www.ctslink.com (“CTSLink”) by request of the Depositor.

 

2.       The
undersigned agrees that each time it accesses CTSLink, the undersigned is deemed to have recertified that the representation above
remains true and correct.

 

3.       The
undersigned acknowledges and agrees that the provision to it of information and/or reports on CTSLink is for its own use only,
and agrees that it will not disseminate or otherwise make such information available to any other person without the written consent
of the Depositor.

 

4.       The
undersigned shall be fully liable for any breach of the Pooling and Servicing Agreement by itself or any of its Representatives
and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the
Operating Advisor, the Asset Representations Reviewer and the Trust Fund for any loss, liability or expense incurred thereby with
respect to any such breach by the undersigned or any of its Representatives.

 

    P-3-1

     

    

 

5.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    P-3-2

     

    

 

EXHIBIT
Q

CUSTODIAN CERTIFICATION/EXCEPTION REPORT

 

[DATE]

 

To
the Persons Listed on the attached Schedule A

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         

 

Ladies
and Gentlemen:

 

In
accordance with Section 2.02 of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing
Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of
PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, the
undersigned, as Custodian, hereby certifies that, except as noted on the attached Custodial Exception Report, as to each Mortgage
Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or for which a Liquidation Event has occurred)
the Custodian has, subject to Section 2.02(c) of the Pooling and Servicing Agreement, reviewed the documents delivered to it pursuant
to Section 2.01 of the Pooling and Servicing Agreement and has determined that (i) subject to the final proviso of the definition
of “Mortgage File”, all documents specified in clauses (i) through (v), (viii), (ix), (xi), (xii) and (xiii) (or,
with respect to clause (xii), a copy of such letter of credit and the required officer’s certificate), if any, of the definition
of “Mortgage File,” as applicable, are in its possession, (ii) the foregoing documents delivered or caused to be delivered
by the Mortgage Loan Seller have been reviewed by it or by a Custodian on its behalf and appear regular on their face and appear
to be executed and to relate to such Mortgage Loan and (iii) based on such examination and only as to the foregoing documents,
the information set forth in the Mortgage Loan Schedule with respect to the items specified in clauses (iv), (vi) and (viii)(c)
in the definition of “Mortgage Loan Schedule” is correct.

 

Capitalized
words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing
Agreement.

 

	 	WELLS
    FARGO BANK, NATIONAL
	 	 	ASSOCIATION,
    as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Q-1

     

    

 

SCHEDULE
A

[APPLICABLE MORTGAGE LOAN SELLER’S NOTICE ADDRESS]

 

	Barclays
    Commercial Mortgage Securities	Barclays
    Capital Inc.
	LLC	745 Seventh
    Avenue
	745 Seventh
    Avenue	New York,
    New York 10019
	New York,
    New York 10019	Attention:
    Steven P. Glynn, Director, Legal
	Attention:
    Daniel Vinson	Department
	 	Email: steven.glynn@barclays.com
	Midland Loan
    Services, a Division of PNC	 
	Bank, National
    Association	Rialto Mortgage
    Finance, LLC
	10851 Mastin
    Street, Suite 700	600 Madison
    Avenue, 12th Floor
	Overland Park,
    Kansas 66210	New York,
    New York 10022
	Attention:
    Executive Vice President  –	Attention:
    Kenneth M. Gorsuch, Managing
	Division Head	Director
	Fax Number:
    (888) 706-3565	 
	 	UBS AG
	Wells Fargo
    Bank, National Association	1285 Avenue
    of the Americas
	9062 Old Annapolis
    Road	New York,
    New York 10019
	Columbia,
    Maryland 21045	Attention:
    Henry Chung
	Attention:
    Corporate Trust Services BBCMS	E-mail: henry.chung@ubs.com
	2019-C3	 
	trustadministrationgroup@wellsfargo.com	with a copy
    to:
	cts.cmbs.bond.admin@wellsfargo.com	 
	 	UBS Business
    Solutions LLC
	Pentalpha
    Surveillance LLC	1285 Avenue
    of the Americas
	375 N. French
    Road, Suite 100	New York,
    New York 10019
	Amherst, New
    York 14228	Attention:
    Chad Eisenberger, Executive
	Attention:
    BBCMS 2019-C3 Transaction	Director &
    Counsel
	Manager	E-mail: chad.eisenberger@ubs.com
	With a copy
    sent via email to:	 
	notices@pentalphasurveillance.com	Natixis Real
    Estate Capital LLC
	(with BBCMS
    2019-C3 in the subject line)	1251 Avenue
    of the Americas
	 	New York,
    New York 10020
	Barclays Capital
    Real Estate Inc.	Attention:
    Real Estate Administration
	745 Seventh
    Avenue	Fax number:
    (212) 891 5777
	New York,
    New York 10019	 
	Attention:
    Daniel Vinson, Managing Director	with a copy
    to:
	Email: daniel.vinson@barclays.com	 
	 	Natixis Real
    Estate Capital LLC
	with a copy
    to:	1251 Avenue
    of the Americas
	 	New York,
    New York 10020
	 	Attention:
    Office of the General Counsel

 

    Q-2

     

    

 

	Societe
    Generale Financial Corporation	 
	245 Park Avenue,
    11th Floor	KeyBank National
    Association
	New York,
    New York 10167	11501 Outlook
    Street, Suite 300
	Attention:
    Jim Barnard	Overland Park,
    Kansas 66211
	E-mail: US-Glfi-Abp-Cmbs-	Attention:
    Joe DeRoy
	Notices@sgcib.com	 
	 	with a copy
    to:
	with a copy
    to:	 
	 	Polsinelli
	Société
    Générale	900 West 48th
    Place, Suite 900
	245 Park Avenue,
    11th Floor	Kansas City,
    Missouri 64112
	New York,
    New York 10167	Attention:
    Kraig Kohring
	Attention:
    General Counsel	 

 

    Q-3

     

    

 

EXHIBIT
R-1

 

FORM
OF POWER OF ATTORNEY BY TRUSTEE FOR MASTER SERVICER

 

RECORDING
REQUESTED BY:

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax number: (888) 706-3565

 

 

 SPACE
ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED
POWER OF ATTORNEY

 

Wells
Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States and
having an office at 9062 Old Annapolis Road, Columbia, Maryland 21045, not in its individual capacity but solely as Trustee (in
such capacity, the “Trustee”), hereby constitutes and appoints Midland Loan Services, a Division of PNC Bank,
National Association (in such capacity, the “Master Servicer”), as its true and lawful attorney-in-fact (the
“Attorney-In-Fact”) and in its name, aforesaid Attorney-In-Fact, by and through any authorized representative
appointed by the Board of Directors of the Master Servicer, to execute and acknowledge in writing or by facsimile stamp all documents
customarily and reasonably necessary and appropriate for the tasks described in the items (1) through (12) below; provided however,
that the documents described below may only be executed and delivered by the Attorney-In-Fact if such documents are required or
permitted under the terms of the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Agreement”),
by and among Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division of PNC Bank, National
Association, as Master Servicer and as special servicer, Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”) and Trustee, and Pentalpha Surveillance LLC, as operating
advisor and as asset representations reviewer, relating to the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through
Certificates, Series 2019-C3 and no power is granted hereunder to take any action that would be adverse to the interests of Wells
Fargo Bank, National Association.

 

This
Limited Power of Attorney is being issued in connection with the Master Servicer’s responsibilities to service certain mortgage
loans (the “Loans”) held by Wells Fargo Bank, National Association, as Trustee. The Loans are comprised of
mortgages or deeds of trust (the “Mortgages” and “Deeds of Trust” respectively), and other
forms of security instruments (collectively, the “Security Instruments”) and the Mortgage Notes secured thereby.
Capitalized terms used but not defined herein shall have the respective meanings assigned thereto in the Agreement.

 

1.      Demand,
sue for, recover, collect and receive each and every sum of money, debt, account and interest (which now is, or hereafter shall
become due and payable) belonging to 

 

    R-1-1

     

    

 

or
claimed by Wells Fargo Bank, National Association, as Trustee, and to use or take any lawful means for recovery by legal process
or otherwise, including but not limited to the substitution of trustee serving under a Deed of Trust, the preparation and issuance
of statements of breach, notices of default, and/or notices of sale, accepting deeds in lieu of foreclosure, evicting (to the
extent allowed by federal, state or local laws) and foreclosing on the properties under the Security Instruments by judicial or
non-judicial foreclosure, actions for temporary restraining orders, injunctions, appointments of receiver, suits for waste, fraud
and any and all other tort, contractual or other claims of whatever nature, including execution of any evidentiary affidavits
or verifications in support thereof, as may be necessary or advisable in any bankruptcy action, state or federal suit or any other
action.

 

2.       Execute
and/or file such documents and take such other action as is proper and necessary to defend Wells Fargo Bank, National Association,
as Trustee, in litigation and to resolve any litigation where the Master Servicer has an obligation to defend Wells Fargo Bank,
National Association, as Trustee, including but not limited to dismissal, termination, cancellation, rescission and settlement.

 

3.       Transact
business of any kind regarding the Loans and the Mortgaged Properties.

 

4.       Obtain
an interest in the Loans, Mortgaged Properties and/or building thereon, as Wells Fargo Bank, National Association, Trustee’s
act and deed, to contract for, purchase, receive and take possession and evidence of title in and to the property and/or to secure
payment of a promissory note or performance of any obligation or agreement.

 

5.       Execute,
complete, indorse or file bonds, notes, Mortgages, Deeds of Trust and other contracts, agreements and instruments regarding the
Borrowers, the Loans and/or the Mortgaged Properties, including but not limited to the execution of estoppel certificates, financing
statements, continuation statements, releases, satisfactions, assignments, loan modification agreements, payment plans, waivers,
consents, amendments, forbearance agreements, loan assumption agreements, subordination agreements, property adjustment agreements,
non-disturbance and attornment agreements, leasing agreements, management agreements, listing agreements, purchase and sale agreements,
and other instruments pertaining to Mortgages or Deeds of Trust, and execution of deeds and associated instruments, if any, conveying
the Mortgaged Properties, in the interest of Wells Fargo Bank, National Association, as Trustee.

 

6.       Endorse
on behalf of the undersigned all checks, drafts and/or other negotiable instruments made payable to the undersigned and draw upon,
replace, substitute, release or amend letters of credit as property securing the Loans.

 

7.       [RESERVED].

 

8.       Such
other actions and file such other instruments and certifications as are reasonably necessary to complete or accomplish the Master
Servicer’s duties and responsibilities under the Agreement.

 

9.       Execute
any document or perform any act described in items (3), (4), and (5) in connection with the termination of any Trust as necessary
to transfer ownership of the affected 

 

    R-1-2

     

    

 

Loans
to the entity (or its designee or assignee) possessing the right to obtain ownership of the Loans.

 

10.     Subordinate
the lien of a Mortgage, Deed of Trust, or deed to secure debt (i) for the purpose of refinancing Loans, where applicable, or (ii)
to an easement in favor of a public utility company or a government agency or unit with powers of eminent domain, including but
not limited to the execution of partial satisfactions and releases and partial reconveyances reasonably required for such purpose,
and the execution or requests to the trustees to accomplish the same.

 

11.     Convey
the Property to the mortgage insurer, or close the title to the Mortgaged Property to be acquired as real estate owner, or convey
title to real estate owned property (“REO Property”).

 

12.     Execute
and deliver the following documentation with respect to the sale of the REO Property acquired through a foreclosure or deed-in-lieu
of foreclosure, including, without limitation, listing agreements, purchase and sale agreements, grant / limited or special warranty
/ quit claim deeds or any other deed, but not general warranty deeds, causing the transfer of title of the Mortgaged Property
to a party contracted to purchase same, escrow instructions and any all documents necessary to effect the transfer of REO Property.

 

The
undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every
act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney
as fully as the undersigned might or could do as of [date].

 

This
Limited Power of Attorney is effective as of the date below and shall remain in full force and effect until (a) revoked in writing
by the Trustee, or (b) the termination, resignation or removal of the Trustee as trustee under the Agreement, or (c) the termination,
resignation or removal of the Servicer as servicer under the Agreement, or (d) the termination of the Agreement, whichever occurs
earlier.

 

This
appointment is to be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts
or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

The
Master Servicer hereby agrees to indemnify and hold Wells Fargo Bank, National Association, as Trustee, and its directors, officers,
employees and agents harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the Trustee by reason or result of the misuse
of this Limited Power of Attorney by the Master Servicer. The foregoing indemnity shall survive the termination of this Limited
Power of Attorney and the Agreement or the earlier resignation or removal of Wells Fargo Bank, National Association, as Trustee
under the Agreement.

 

IN
WITNESS WHEREOF, Wells Fargo Bank, National Association, as Trustee for the benefit of the registered holders of BBCMS Mortgage
Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 has caused its corporate seal to be hereto affixed
and 

 

    R-1-3

     

    

 

these
presents to be signed and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________ day
of ____________. 

 

	 	WELLS
    FARGO BANK, NATIONAL
	 	ASSOCIATION,
    as Trustee for the benefit of
	 	the registered
    holders of BBCMS Mortgage
	 	Trust 2019-C3,
    Commercial Mortgage Pass-
	 	Through Certificates,
    Series 2019-C3

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Attest:	 	 
	 	 	 
	 	 	 
	 	 	 
	Witness:	 	 
	 	 	 
	 	 	 
	 	 	 
	Witness:	 	 
	 	 	 
	 	 	 

 

    R-1-4

     

    

 

	STATE OF	)	ss.:	 
	COUNTY OF	)	 	 

 

On
____________________, before me, _________________________________ Notary Public, personally appeared ___________________________,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument
the person, or the entity upon behalf of which the person acted, executed the instrument.

 

Witness
my hand and official seal.

 

	 	 
	 	Notary Public

 

	[SEAL]	 
	 	 
	My commission expires:	 
	 	 
	 	 

 

    R-1-5

     

    

 

EXHIBIT
R-2

FORM OF POWER OF ATTORNEY BY TRUSTEE FOR SPECIAL SERVICER

 

RECORDING
REQUESTED BY:

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax number: (888) 706-3565

 

 

 SPACE
ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED
POWER OF ATTORNEY

 

Wells
Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States and
having an office at 9062 Old Annapolis Road, Columbia, Maryland 21045, not in its individual capacity but solely as Trustee (in
such capacity, the “Trustee”), hereby constitutes and appoints Midland Loan Services, a Division of PNC Bank,
National Association (in such capacity, the “Special Servicer”), as its true and lawful attorney-in-fact (the
“Attorney-In-Fact”) and in its name, aforesaid Attorney-In-Fact, by and through any authorized representative
appointed by the Board of Directors of the Special Servicer, to execute and acknowledge in writing or by facsimile stamp all documents
customarily and reasonably necessary and appropriate for the tasks described in the items (1) through (12) below; provided however,
that the documents described below may only be executed and delivered by the Attorney-In-Fact if such documents are required or
permitted under the terms of the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Agreement”)
by and among Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division of PNC Bank, National
Association, as master servicer and as Special Servicer, Wells Fargo Bank, National Association, as certificate administrator
and as Trustee and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, relating to BBCMS Mortgage
Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 and no power is granted hereunder to take any action
that would be adverse to the interests of Wells Fargo Bank, National Association.

 

This
Limited Power of Attorney is being issued in connection with the Special Servicer’s responsibilities to service certain
mortgage loans (the “Loans”) held by Wells Fargo Bank, National Association, as Trustee. The Loans are comprised
of mortgages or deeds of trust (the “Mortgages” and “Deeds of Trust” respectively), and
other forms of security instruments (collectively, the “Security Instruments”) and the Mortgage Notes secured
thereby. Capitalized terms used but not defined herein shall have the respective meanings assigned thereto in the Agreement.

 

		1.	Demand,
                                         sue for, recover, collect and receive each and every sum of money, debt, account and
                                         interest (which now is, or hereafter shall become due and payable) belonging to or

 

    R-2-1

     

    

 

claimed
by Wells Fargo Bank, National Association, as Trustee, and to use or take any lawful means for recovery by legal process or otherwise,
including but not limited to the substitution of trustee serving under a Deed of Trust, the preparation and issuance of statements
of breach, notices of default, and/or notices of sale, accepting deeds in lieu of foreclosure, evicting (to the extent allowed
by federal, state or local laws) and foreclosing on the properties under the Security Instruments by judicial or non-judicial
foreclosure, actions for temporary restraining orders, injunctions, appointments of receiver, suits for waste, fraud and any and
all other tort, contractual or other claims of whatever nature, including execution of any evidentiary affidavits or verifications
in support thereof, as may be necessary or advisable in any bankruptcy action, state or federal suit or any other action.

 

		2.	Execute
                                         and/or file such documents and take such other action as is proper and necessary to defend
                                         Wells Fargo Bank, National Association, as Trustee, in litigation and to resolve any
                                         litigation where the Special Servicer has an obligation to defend Wells Fargo Bank, National
                                         Association, as Trustee, including but not limited to dismissal, termination, cancellation,
                                         rescission and settlement.

 

		3.	Transact
                                         business of any kind regarding the Loans and the Mortgaged Properties.

                                         

 

		4.	Obtain
                                         an interest in the Loans, Mortgaged Properties and/or building thereon, as Wells Fargo
                                         Bank, National Association, Trustee’s act and deed, to contract for, purchase,
                                         receive and take possession and evidence of title in and to the property and/or to secure
                                         payment of a promissory note or performance of any obligation or agreement.

                                         

 

		5.	Execute,
                                         complete, indorse or file bonds, notes, Mortgages, Deeds of Trust and other contracts,
                                         agreements and instruments regarding the Borrowers, the Loans and/or the Mortgaged Properties,
                                         including but not limited to the execution of estoppel certificates, financing statements,
                                         continuation statements, releases, satisfactions, assignments, loan modification agreements,
                                         payment plans, waivers, consents, amendments, forbearance agreements, loan assumption
                                         agreements, subordination agreements, property adjustment agreements, non-disturbance
                                         and attornment agreements, leasing agreements, management agreements, listing agreements,
                                         purchase and sale agreements, and other instruments pertaining to Mortgages or Deeds
                                         of Trust, and execution of deeds and associated instruments, if any, conveying the Mortgaged
                                         Properties, in the interest of Wells Fargo Bank, National Association, as Trustee.

                                         

 

		6.	Endorse
                                         on behalf of the undersigned all checks, drafts and/or other negotiable instruments made
                                         payable to the undersigned and draw upon, replace, substitute, release or amend letters
                                         of credit as property securing the Loans.

 

		7.	[RESERVED].

 

		8.	Such
                                         other actions and file such other instruments and certifications as are reasonably necessary
                                         to complete or accomplish the Special Servicer’s duties and responsibilities under
                                         the Agreement.

 

    R-2-2

     

    

 

		9.	Execute
                                         any document or perform any act described in items (3), (4), and (5) in connection with
                                         the termination of any Trust as necessary to transfer ownership of the affected Loans
                                         to the entity (or its designee or assignee) possessing the right to obtain ownership
                                         of the Loans.

 

		10.	Subordinate
                                         the lien of a Mortgage, Deed of Trust, or deed to secure debt (i) for the purpose of
                                         refinancing Loans, where applicable, or (ii) to an easement in favor of a public utility
                                         company or a government agency or unit with powers of eminent domain, including but not
                                         limited to the execution of partial satisfactions and releases and partial reconveyances
                                         reasonably required for such purpose, and the execution or requests to the trustees to
                                         accomplish the same.

 

		11.	Convey
                                         the Property to the mortgage insurer, or close the title to the Mortgaged Property to
                                         be acquired as real estate owner, or convey title to real estate owned property (“REO
                                         Property”).

 

		12.	Execute
                                         and deliver the following documentation with respect to the sale of the REO Property
                                         acquired through a foreclosure or deed-in-lieu of foreclosure, including, without limitation,
                                         listing agreements, purchase and sale agreements, grant / limited or special warranty
                                         / quit claim deeds or any other deed, but not general warranty deeds, causing the transfer
                                         of title of the Mortgaged Property to a party contracted to purchase same, escrow instructions
                                         and any all documents necessary to effect the transfer of REO Property.

 

The
undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every
act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney
as fully as the undersigned might or could do as of [date].

 

This
Limited Power of Attorney is effective as of the date below and shall remain in full force and effect until (a) revoked in writing
by the Trustee, or (b) the termination, resignation or removal of the Trustee as trustee under the Agreement, or (c) the termination,
resignation or removal of the Servicer as servicer under the Agreement, or (d) the termination of the Agreement, whichever occurs
earlier.

 

This
appointment is to be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts
or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney. 

The
Special Servicer hereby agrees to indemnify and hold Wells Fargo Bank, National Association, as Trustee, and its directors, officers,
employees and agents harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the Trustee by reason or result of the misuse
of this Limited Power of Attorney by the Special Servicer. The foregoing indemnity shall survive the termination of this Limited
Power of Attorney and the Agreement or the earlier resignation or removal of Wells Fargo Bank, National Association, as Trustee
under the Agreement.

 

    R-2-3

     

    

 

IN
WITNESS WHEREOF, Wells Fargo Bank, National Association, as Trustee for the benefit of the registered holders of BBCMS Mortgage
Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 has caused its corporate seal to be hereto affixed
and these presents to be signed and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________
day of ____________.

  

	 	
	 	
	 	
	 	
	 	WELLS
    FARGO BANK, NATIONAL
    ASSOCIATION, as Trustee for the benefit of the registered holders of
    BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Attest:	 	 
	 	 	 
	 	 	 
	 	 	 
	Witness:	 	 
	 	 	 
	 	 	 
	 	 	 
	Witness:	 	 
	 	 	 
	 	 	 

 

    R-2-4

     

    

 

	STATE OF	)	ss.:	 
	COUNTY OF	)	 	 

 

On
____________________, before me, _________________________________ Notary Public, personally appeared ___________________________,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument
the person, or the entity upon behalf of which the person acted, executed the instrument.

 

	Witness my hand and official
    seal.	 	 
	 	 	 
	 	 	 
	Notary signature	 	 

 

    R-2-5

     

    

 

EXHIBIT
S

INITIAL SERVICED COMPANION NOTEHOLDERS

	Loan	Companion
    Holder
	SSTII
    Self Storage Portfolio II	NOTE
                                         A-2, NOTE A-3 AND NOTE A-4:

         

        KeyBank
        National Association

        11501
        Outlook Street, Suite 300

        Overland
        Park, Kansas 66211

        

        Facsimile
        No.: 877-379-1625

        Attn:
        Loan Servicing

         

        With
        a copy to:

         

        Polsinelli

        900
        West 48th Place, Suite 900

        Kansas
        City, Missouri 64112

        Attn:
        Kraig Kohring

        Facsimile
        No.: 816-753-1536

         

	Vanguard
    Portfolio	NOTE
                                         A-1, NOTE A-2, NOTE A-3, NOTE A-4 AND NOTE A-5:

         

        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
        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:

         

        CMBSlegal.notices@natixis.com

         

        NOTE
        B:

         

        TCM
        CRE REIT LLC

        1044
        Northern Blvd., Suite 100 

 

    S-1

     

    

 

	 	Roslyn,
                                         New York 11576

                                                                                 

	GNL
    Industrial Portfolio	NOTE
                                         A-1: 

         

        Column
        Financial, Inc.

        11
        Madison Avenue

        New
        York, New York 10010

        Attn:
        David Tlusty

         

        and:

         

        Column
        Financial, Inc.

        11
        Madison Avenue

        New
        York, New York 10010

        Attn:
        Mark Covey, Esq.

         

	SWVP
    Portfolio	NOTE
                                         A-2, NOTE A-4, NOTE A-5 AND NOTE A-6:

         

        Societe
        Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: Jim Barnard

         

        with
        a copy to:

        

        Societe Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: General Counsel

        Facsimile:
        (212) 278-2074

         

        And

         

        Cadwalader,
        Wickersham & Taft LLP

        One
        World Financial Center

        200
        Liberty Street

        New
        York, New York 10281

        Attn:
        David S. Gingold, Esq.

         

        NOTE
        A-7, NOTE A-8, NOTE A-9 AND NOTE A-10:

         

        JPMorgan
        Chase Bank, National Association

        383
        Madison Avenue, 31st Floor

        New
        York, New York 10179 

 

    S-2

     

    

 

	 	Attention:
    Thomas Nicholas CassinoFacsimile
                                  No.: (212) 834-6047

         

        and

         

        JPMorgan
        Chase Bank, National Association

        383
        Madison Avenue

        New
        York, New York 10179

        Attention:
        Nancy S. Alto

        Facsimile
        No.: (212) 623-4779

        
	Inland
    Devon Self Storage Portfolio	NOTE
                                         A-2:

         

        Wells
        Fargo Bank, National Association

        Commercial
        Mortgage Servicing

        Three
        Wells Fargo

        MAC
        D1050-084

        401
        South Tryon Street, 8th Floor

        Charlotte,
        North Carolina 28202 

        Attention:
        WFCM 2019-C50 Asset Manager

        Email:
        commercial.servicing@wellsfargo.com

         

        With
        a copy to:

         

        K&L
        Gates LLP

        Hearst
        Tower, 47th Floor

        214
        North Tryon Street

        Charlotte,
        North Carolina 28202

        Attention:
        Stacy G. Ackermann

        Facsimile
        Number: (704) 353-3190

	Wolverine
    Portfolio	NOTE
                                         A-1, NOTE A-2 AND NOTE A-3:

         

        Wells
        Fargo Bank, National Association

        Commercial
        Mortgage Servicing

        Three
        Wells Fargo

        MAC
        D1050-084

        401
        South Tryon Street, 8th Floor

        Charlotte,
        North Carolina 28202

        Attention:
        WFCM 2019-C50 Asset Manager

        Email:
        commercial.servicing@wellsfargo.com

         

        With
        a copy to:

         

        K&L
        Gates LLP

        Hearst
        Tower, 47th Floor

        214
        North Tryon Street 

 

 

    S-3

     

    

 

	 	Charlotte,
                                         North Carolina 28202

        Attention:
        Stacy G. Ackermann

        Facsimile
        Number: (704) 353-3190

         

        NOTE
        A-9 AND NOTE A-10:

         

        UBS
        AG, New York Branch:

        UBS
        AG, by and through its branch office at 1285

        Avenue
        of the Americas, New York, New York

        1285
        Avenue of the Americas

        New
        York, New York 10019

        Attention:
        Henry Chung 

        Email:
        henry.chung@ubs.com

         

        with
        a copy to:

         

        UBS
        AG, by and through its branch office at 1285

        Avenue
        of the Americas, New York, New York

        1285
        Avenue of the Americas

        New
        York, New York 10019

        Attention:
        Chad Eisenberger

        Email:
        chad.eisenberger@ubs.com

         

        with
        a copy to:

         

        Cadwalader,
        Wickersham & Taft LLP

        

        200
        Liberty Street

        New York, New York 10281

        Attention: Frank Polverino, Esq.

        Facsimile No.: (212) 504-6666

        Email: frank.polverino@cwt.com

         

	Kings
    Mountain Center	NOTE
                                         A-2:

         

        Societe
        Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: Jim Barnard

        

        with
        a copy to:

        

        Societe Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: General Counsel

         

	ExchangeRight
    Net Lease Portfolio 26	NOTE
                                         A-1 AND NOTE A-3: 

 

    S-4

     

    

 

	 	 

        Societe
        Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: Jim Barnard

         

        with
        a copy to:

        

        Societe Generale Financial Corporation

        245 Park Avenue

        New York, New York 10167

        Attention: General Counsel

         

	Patuxent
    Crossing	NOTE
                                         A-2:

         

        Barclays
        Capital Real Estate Inc.

        745
        Seventh Avenue 

        New
        York, New York 10019 

        Attention:
        Sabrina Khabie

        Facsimile
        No.: (212) 294-0299

         

        With
        a copy to:

         

        Reed
        Smith LLP

        599
        Lexington Avenue

        New
        York, New York 10022

        Attention:
        Jodi Schwimmer, Esq.

         

	The
    Block Northway	NOTE
                                         A-1-1:

         

        Wells
        Fargo Bank, National Association

        Commercial
        Mortgage Servicing

        Three
        Wells Fargo

        MAC
        D1050-084 

        401
        South Tryon Street, 8th Floor 

        Charlotte,
        North Carolina 28202

        Attention:
        WFCM 2019-C50 Asset Manager

        Email:
        commercial.servicing@wellsfargo.com

         

        With
        a copy to:

         

        K&L
        Gates LLP

        Hearst
        Tower, 47th Floor

        214
        North Tryon Street

        Charlotte,
        North Carolina 28202

        Attention:
        Stacy G. Ackermann

        Facsimile
        Number: (704) 353-3190

  

    S-5

     

    

 

	 	 

        NOTE
        A-2 AND NOTE A-7-2:

         

        Midland
        Loan Services, a Division of PNC Bank,

        National
        Association

        10851
        Mastin Street, Suite 700

        Overland
        Park, Kansas 66210

        Attention:
        Executive Vice President – Division Head 

        Fax
        Number: 1-888-706-3565

         

        With
        a copy to:

         

        Stinson
        Leonard Street LLP

        1201
        Walnut Street

        Suite
        2900 

        Kansas
        City, Missouri 64106-2150

        Fax
        Number: (816) 412-9338 

        Attention:
        Kenda K. Tomes

        E-mail:
        kenda.tomes@stinson.com

         

        NOTE
        A-4, NOTE A-5 AND NOTE A-8: 

         

        Morgan
        Stanley Mortgage Capital Holdings LLC

        1585
        Broadway

        New,
        New York 10036

        Attention:
        Jane Lam

         

        with
        a copy to:

         

        Morgan
        Stanley Mortgage Capital Holdings LLC

        1221
        Avenue of the Americas 

        New
        York, New York 10020

        Attention:
        Legal Compliance Division

         

        and
        a copy by email to:

         

        cmbs_notices@morganstanley.com

         

 

    S-6

     

    

 

EXHIBIT
T

FORM OF NOTICE FOR NON-SERVICED MORTGAGE LOAN

 

[FOR
THE COLONNADE OFFICE COMPLEX, EXCHANGERIGHT NET LEASED PORTFOLIO 24, ILPT HAWAII PORTFOLIO, SOUTHERN MOTION INDUSTRIAL PORTFOLIO

 

Midland
Loan Services, a Division of PNC Bank, National Association, 10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head,

Fax number: 1-888-706-3565

 

with
a copy to:

Stinson LLP

1201
Walnut Street

Suite
2900

Kansas
City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

E-mail: kenda.tomes@stinson.com]

 

[FOR
787 ELEVENTH AVENUE, GOODYEAR PORTFOLIO, HEARTLAND DENTAL MEDICAL OFFICE PORTFOLIO, CHRISTIANA MALL

 

Wells
Fargo Bank, National Association

Commercial Mortgage Servicing

Three Wells Fargo

MAC D1050-084

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: [WFCM 2019-C50] [SGCMS 2019-787E] [BBCMS
2018-CHRS] Asset Manager

Email: commercial.servicing@wellsfargo.com

 

with
a copy to:

K&L Gates LLP

Hearst Tower, 47th Floor

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: [Stacy G. Ackermann]

Facsimile Number: (704) 353-3190]

 

[FOR
NEMA SAN FRANCISCO

 

    T-1

     

    

 

KeyBank
National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Joe DeRoy

Facsimile: (877) 379-1625

 

with
a copy to:

Polsinelli

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Facsimile: (816) 753-1536]

VIA EMAIL

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

Ladies
and Gentlemen:

 

As
you know, [MASTER SERVICER] acts as the master servicer (the “Lead Master Servicer”) for the whole loan secured
by the mortgaged property identified as [LOAN NAME] (the “Subject Whole Loan”) under the [PSA] [pooling] [trust]
and servicing agreement (the “Lead PSA”). This is to inform you that [NOTE] of the Subject Whole Loan (the
“Subject Mortgage Loan”) has been transferred to BBCMS Mortgage Trust 2019-C3 pursuant to that certain Pooling
and Servicing Agreement, dated June 1, 2019 (the “2019-C3 Pooling Agreement”) between Barclays Commercial Mortgage
Securities LLC, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer (in such
capacity, the “2019-C3 Master Servicer”) and as special servicer, Wells Fargo Bank, National Association, as
certificate administrator (in such capacity, the “2019-C3 Certificate Administrator”) and as trustee (in such
capacity, the “2019-C3 Trustee”), and Pentalpha Surveillance LLC, as operating advisor and as asset representations
reviewer, and that the 2019-C3 Trustee is the holder of the Subject Mortgage Loan.

 

The
undersigned, as 2019-C3 Certificate Administrator, hereby directs you, in your capacity as the Lead Master Servicer of the Subject
Whole Loan, to remit to the 2019-C3 Master Servicer all amounts payable to, and forward, deliver or otherwise make available,
as the case may be, to the 2019-C3 Master Servicer all reports, statements, documents, communications, and other information that
are to be forwarded, delivered or otherwise made available to, the holder of the Subject Mortgage Loan under the related Intercreditor
Agreement (as such term is defined in the 2019-C3 Pooling Agreement) and the Lead PSA.

 

The
Subject Mortgage Loan is not a Significant Obligor (as such term is defined in the 2019-C3 Pooling Agreement) under the 2019-C3
Pooling Agreement.

 

Thank
you for your attention to this matter.

 

    T-2

     

    

 

	Date:	 	 

 

	 	Wells Fargo Bank, National Association, 
	 	 	as Certificate Administrator for the Holders

of the BBCMS
Mortgage Trust 2019-C3,

Commercial Mortgage Pass-Through

 Certificates, Series 2019-C3
	 	By:	
	 	 	Name:
	 	 	Title:

  

    T-3

     

    

 

EXHIBIT
U

FORM OF NOTICE AND CERTIFICATION

REGARDING DEFEASANCE OF MORTGAGE LOAN

 

		To:	Fitch
                                         Ratings, Inc.

                                          33 Whitehall Street

                                          New York, New York 10004

                                          Attention: Commercial Mortgage Surveillance Group

                                          Facsimile No.: (212) 635-0295

                                          E-mail: info.cmbs@fitchratings.com

 

Kroll
Bond Rating Agency, Inc.

805 Third Avenue, 29th Floor

New York, New York 10022

Attention: CMBS Surveillance

E-mail: cmbssurveillance@kbra.com

 

S&P
Global Ratings

55 Water Street, 41st Floor

New York, New York 10041

Attention: Commercial Mortgage Surveillance Manager

Email: cmbs_info_17g5@standardandpoors.com

 

		From:	Midland
                                         Loan Services, a Division of PNC Bank, National Association, in its capacity as Master
                                         Servicer under the Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling
                                         and Servicing Agreement”), between Barclays Commercial Mortgage Securities
                                         LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
                                         as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as
                                         Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating
                                         Advisor and as Asset Representations Reviewer.

 

Date:     
_________, 20___

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         Mortgage Loan (the “Mortgage Loan”) identified by loan number _____
                                         [and loan number [_______]] on the Mortgage Loan Schedule attached to the Pooling and
                                         Servicing Agreement and heretofore secured by the Mortgaged Properties identified on
                                         the Mortgage Loan Schedule by the following names:

 

Reference
is made to the Pooling and Servicing Agreement described above. Capitalized terms used but not defined herein have the meanings
assigned to such terms in the Pooling and Servicing Agreement.

 

As
Master Servicer under the Pooling and Servicing Agreement, we hereby:

 

    U-1

     

    

 

(a)               
Notify you that the Mortgagor has consummated a defeasance of the Mortgage Loan pursuant to the terms of the Mortgage Loan, of
the type checked below:

 

________
  a full defeasance of the entire principal balance of the Mortgage Loan; or

 

________
  a partial defeasance of a portion of the principal balance of the Mortgage Loan that represents and, an allocated loan
amount of $____________ or _______% of the entire principal balance of the Mortgage Loan;

 

(b)              
Certify that each of the following is true, subject to those exceptions set forth with explanatory notes on Exhibit A
hereto, which exceptions the Master Servicer has determined, consistent with the Servicing Standards, will have no material
adverse effect on the Mortgage Loan or the defeasance transaction:

 

(i)                
The Mortgage Loan documents permit the defeasance, and the terms and conditions for defeasance specified therein were satisfied
in all material respects in completing the defeasance.

 

(ii)               
The defeasance was consummated on __________, 20__.

 

(iii)             
The defeasance collateral consists of securities that (i) constitute “government securities” as defined in Section 2(a)(16)
of the Investment Company Act of 1940 as amended (15 U.S.C. 80A1), (ii) are listed as “Qualified Investments for
‘AAA’ Financings” under Paragraphs 1, 2 or 3 of “Cash Flow Approach” in Standard & Poor’s
Public Finance Criteria 2000, as amended to the date of the defeasance, (iii) if they include a principal obligation, the
principal due at maturity cannot vary or change, and (iv) are not subject to prepayment, call or early redemption.

 

(iv)              
The Master Servicer received an opinion of counsel (from counsel approved by the Master Servicer in accordance with the Servicing
Standard) that the defeasance will not result in an Adverse REMIC Event.

 

(v)              
The Master Servicer determined that the defeasance collateral will be owned by an entity (the “Defeasance Obligor”)
that is a Single-Purpose Entity (as defined in Standard & Poor’s Structured Finance Ratings Real Estate Finance Criteria,
as amended to the date of the defeasance (the “S&P Criteria”)) or is subject to restrictions in its organizational
documents substantially similar to those contained in the organization documents of the original Borrower with respect to bankruptcy
remoteness and single purpose as of the date of the defeasance, and after the defeasance owns no assets other than the defeasance
collateral and real property securing Mortgage Loans included in the pool.

 

(vi)              
The defeasance documents require the crediting of the defeasance collateral to an Eligible Account (as defined in the S&P
Criteria) in the name of the Trustee on behalf of the Trust, which account is maintained as a securities account by a securities
intermediary and has been pledged to the Trustee on behalf of the Trust.

 

(vii)             
The agreements executed in connection with the defeasance (i) grant control of the pledged securities account to Trustee
on behalf of the Trust, (ii) require the securities

 

    U-2

     

    

 

intermediary
to make the scheduled payments on the Mortgage Loan from the proceeds of the defeasance collateral directly to the Master Servicer’s
collection account in the amounts and on the dates specified in the Mortgage Loan documents or, in a partial defeasance, the portion
of such scheduled payments attributed to the allocated loan amount for the real property defeased, increased by any defeasance
premium specified in the Mortgage Loan documents (the “Scheduled Payments”), (iii) permit reinvestment
of proceeds of the defeasance collateral only in Permitted Investments (as defined in the Pooling and Servicing Agreement or as
defined in the documents evidencing the defeasance), (iv) permit release of surplus defeasance collateral and earnings on
reinvestment from the pledged securities account only after the Mortgage Loan has been paid in full, if any such release is permitted,
(v) prohibit transfers by the Defeasance Obligor of the defeasance collateral and subordinate liens against the defeasance
collateral, and (vi) provide for payment from sources other than the defeasance collateral or other assets of the Defeasance
Obligor of all fees and expenses of the securities intermediary for administering the defeasance and the securities account and
all fees and expenses of maintaining the existence of the Defeasance Obligor.

 

(viii)           
The Master Servicer received written confirmation from a firm of independent certified public accountants, who were approved by
the Master Servicer in accordance with the Servicing Standard stating that (i) revenues from the defeasance collateral (without
taking into account any earnings on reinvestment of such revenues) will be sufficient to timely pay each of the Scheduled Payments
after the defeasance including the payment in full of the Mortgage Loan (or the allocated portion thereof in connection with a
partial defeasance) on its Maturity Date (or, in the case of an ARD Loan, on its Anticipated Repayment Date), (ii) the revenues
received in any month from the defeasance collateral will be applied to make Scheduled Payments within four (4) months after
the date of receipt, and (iii) interest income from the defeasance collateral to the Defeasance Obligor in any calendar or
fiscal year will not exceed such Defeasance Obligor’s interest expense for the Mortgage Loan (or the allocated portion thereof
in a partial defeasance) for such year.

 

(ix)              
The Mortgage Loan is not among the ten (10) largest loans in the pool as of the date of the Current Report (as defined below).
The entire principal balance of the Mortgage Loan as of the date of defeasance was less than both $[______] and five percent of
pool balance, which is less than [__]% of the aggregate Certificate Balance of the Certificates as of the date of the most recent
Distribution Date Statement received by us (the “Current Report”).

 

(x)               
The Master Servicer has received opinions of counsel stating that the Trustee on behalf of the Trust possesses a valid, perfected
first priority security interest in the defeasance collateral and that the documents executed in connection with the defeasance
are enforceable in accordance with their respective terms.

 

(c)               
Certify that Exhibit B hereto is a list of the material agreements, instruments, organizational documents for the
Defeasance Obligor, and opinions of counsel and independent accountants executed and delivered in connection with the defeasance.

 

    U-3

     

    

 

(d)              
Certify that the individual under whose hand the Master Servicer has caused this Notice and Certification to be executed did constitute
a Servicing Officer as of the date of the defeasance described above.

 

(e)               
Agree to provide copies of all items listed in Exhibit B to you upon request.

  

IN
WITNESS WHEREOF, the Master Servicer has caused this Notice and Certification to be executed as of the date captioned above.

 

 

	 	MIDLAND
    LOAN SERVICES, A DIVISION 
	 	 	OF
    PNC BANK, NATIONAL

 ASSOCIATION 

as
    Master Servicer
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

  

    U-4

     

    

 

EXHIBIT
V

FORM OF OPERATING ADVISOR ANNUAL REPORT1

 

Report
Date: This report will be delivered annually no later than [INSERT DATE], pursuant to the terms and conditions of the Pooling
and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”).

 

Transaction:
BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

Operating
Advisor: Pentalpha Surveillance LLC

 

Special
Servicer: Midland Loan Services, a Division of PNC Bank, National Association

 

Directing
Certificateholder: KKR Real Estate Credit Opportunity Partners Aggregator I L.P.

 

I.       Population
of Mortgage Loans that Were Considered in Compiling this Report

 

1.          The Special Servicer has notified the Operating Advisor that [●] Specially Serviced Loans were transferred to special servicing
in the prior calendar year [INSERT YEAR].

 

a.          [●] of those Specially Serviced Loans are still being analyzed by the Special Servicer as part of the development of an
Asset Status Report.

 

b.          [Final] Asset Status Reports were issued with respect to [●] of such Specially Serviced Loans. This report is based
only on the Specially Serviced Loans in respect of which an Asset Status Report has been issued. The Asset Status Reports may
not yet be fully implemented.

 

2.          Prior to an Operating Advisor Consultation Event, if one Mortgage Loan is in special servicing and if the Special Servicer has
subsequently completed a Major Decision with respect to such Specially Serviced Loan, the Special Servicer has provided the applicable
fully executed Major Decision Reporting Package approved or deemed approved by the Directing Holder to the Operating Advisor.

 

3.          After an Operating Advisor Consultation Event, the Special Servicer has provided to the Operating Advisor:

 

a.          with respect to each Major Decision for the following non-Specially Serviced Loans, the related Major Decision Reporting Package
and the opportunity to consult with respect to such Major Decision and recommended action:

 

 

1      This
report is an indicative report and does not reflect the final form of annual report to be used in any particular year. The Operating
Advisor will have the ability to modify or alter the organization and content of any particular report, subject to the compliance
with the terms of the Pooling and Servicing Agreement, including, without limitation, provisions relating to Privileged Information.

  

    V-1

     

    

 

	 	 
	 	 
	 	 

  

b.                 
with respect to following Specially Serviced Loans, each related Asset Status Report and the opportunity to consult with respect
to such recommended action:

	 	 
	 	 

 

II.       Executive
Summary

 

Based
on the requirements and qualifications set forth in the Pooling and Servicing Agreement, as well as the items listed below, the
Operating Advisor (in accordance with the Operating Advisor’s analysis requirements outlined in the Pooling and Servicing
Agreement) has undertaken a limited review of the Special Servicer’s reported actions under the Pooling and Servicing Agreement
on the loans identified in this report. Based solely on such limited review and subject to the assumptions, limitations and qualifications
set forth herein, the Operating Advisor believes, in its sole discretion exercised in good faith, that the Special Servicer [is/is
not] operating in compliance with the Servicing Standard with respect to its performance of its duties under the Pooling and Servicing
Agreement during the prior calendar year on a “trust level basis”. [The Operating Advisor believes, in its sole discretion
exercised in good faith, that the Special Servicer has failed to materially comply with the Servicing Standard as a result of
the following material deviations.]

 

		●	[LIST
                                         OF MATERIAL DEVIATION ITEMS]

 

In
addition, the Operating Advisor notes the following: [PROVIDE SUMMARY OF ANY ADDITIONAL MATERIAL INFORMATION].

 

		●	[ADD
                                         RECOMMENDATION OF REPLACEMENT OF SPECIAL SERVICER, IF APPLICABLE]

 

III.       List
of Items that Were Considered in Compiling this Report

 

In
rendering the assessment set forth in this report, the Operating Advisor examined and relied upon the accuracy and the completion
of the items listed below:

 

1.                 
Any Major Decision Reporting Package that is delivered or made available to the Operating Advisor by the Special Servicer pursuant
to the Pooling and Servicing Agreement.

 

2.                 
Reports by the Special Servicer made available to Privileged Persons that are posted on the certificate administrator’s
website that is relevant to the Operating Advisor’s obligations under the Pooling and Servicing Agreement, each Asset Status
Report (after an Operating Advisor Consultation Event), and each Final Asset Status Report, in each case, delivered or made available
to the Operating Advisor pursuant to the terms of the Pooling and Servicing Agreement.

 

    V-2

     

    

 

3.                 
The Special Servicer’s assessment of compliance report, attestation report by a third party regarding the Special Servicer’s
compliance with its obligations and net present value calculations and Appraisal Reduction Amount calculations delivered or made
available to the Operating Advisor pursuant to the terms of the Pooling and Servicing Agreement.

 

4.                 
[LIST OTHER REVIEWED INFORMATION].

 

5.                 
[INSERT IF AFTER AN OPERATING ADVISOR CONSULTATION EVENT: Consulted with the Special Servicer as provided under the Pooling and
Servicing Agreement on Asset Status Reports for a Specially Serviced Loan delivered or made available to the Operating Advisor
pursuant to the terms of the Pooling and Servicing Agreement and with respect to Major Decisions processed by the Special Servicer.]

 

NOTE:
The Operating Advisor’s review of the above materials should be considered a limited review and not be considered a full
or limited audit , legal review or legal conclusion. For instance, we did not review each page of the Special Servicer’s
policy and procedure manuals (including amendments and appendices), review underlying lease agreements or similar underlying documents,
re-engineer the quantitative aspects of their net present value calculator, visit any related property, visit the Special Servicer,
visit the Directing Holder or interact with any borrower. In addition, our review of the net present value calculations and Appraisal
Reduction calculations is limited to the mathematical accuracy of the calculations and the corresponding application of the non-discretionary
portions of the applicable formulas, and as such, does not take into account the reasonableness of the discretionary portions
of such formulas.

 

		IV.	Assumptions,
                                         Qualifications Related to the Work Product Undertaken and Opinions Related to this Report

 

1.                 
As provided in the Pooling and Servicing Agreement, the Operating Advisor is not required to report on instances of non-compliance
with, or deviations from, the Servicing Standard or the special servicer’s obligations under the Pooling and Servicing Agreement
that the Operating Advisor determines, in its sole discretion exercised in good faith, to be immaterial.

 

2.                 
In rendering our assessment herein, we have assumed that all executed factual statements, instruments, and other documents that
we have relied upon in rendering this assessment have been executed by persons with legal capacity to execute such documents.

 

3.                 
Other than the receipt of any Major Decision Reporting Package or any Asset Status Report that is delivered or made available
to the Operating Advisor pursuant to the terms of the Pooling and Servicing Agreement, the Operating Advisor did not participate
in, or have access to, the Special Servicer’s and Directing Certificateholder’s discussion(s) regarding any Specially
Serviced Loan. The Operating Advisor does not have authority to speak with the Directing Certificateholder directly. As such,
the Operating Advisor generally relied upon the information delivered to it by the Special Servicer as well as its interaction
with the Special Servicer, if any, in gathering the relevant information to generate this report. The services that we perform
are not designed and cannot be relied upon to detect fraud or illegal acts should any exist.

 

    V-3

     

    

 

4.                 
The Special Servicer has the legal authority and responsibility to service any Specially Serviced Loans pursuant to the Pooling
and Servicing Agreement. The Operating Advisor has no responsibility or authority to alter the standards set forth therein or
direct the actions of the Special Servicer.

 

5.                 
Confidentiality and other contractual limitations limit the Operating Advisor’s ability to outline the details or substance
of any communications held between it and the Special Servicer regarding any Specially Serviced Loans and certain information
it reviewed in connection with its duties under the Pooling and Servicing Agreement. As a result, this report may not reflect
all the relevant information that the Operating Advisor is given access to by the Special Servicer.

 

6.                 
There are many tasks that the Special Servicer undertakes on an ongoing basis related to Specially Serviced Loans. These include,
but are not limited to, assumptions, ownership changes, collateral substitutions, capital reserve changes, etc. The Operating
Advisor does not participate in any discussions regarding such actions. As such, Operating Advisor has not assessed the Special
Servicer’s operational compliance with respect to those types of actions.

 

7.                 
The Operating Advisor is not empowered to speak with any investors directly. If the investors have questions regarding this report,
they should address such questions to the certificate administrator through the certificate administrator’s website.

 

8.                 
This report does not constitute recommendations to buy, sell or hold any security, nor does the Operating Advisor take into account
market prices of securities or financial markets generally when performing its limited review of the Special Servicer as described
above. The Operating Advisor does not have a fiduciary relationship with any Certificateholder or any other party or individual.
Nothing is intended to or should be construed as creating a fiduciary relationship between the Operating Advisor and any Certificateholder,
party or individual.

 

Terms
used but not defined herein have the meaning set forth in the Pooling and Servicing Agreement.

 

    V-4

     

    

 

EXHIBIT
W

FORM OF NOTICE FROM OPERATING ADVISOR 

RECOMMENDING REPLACEMENT OF SPECIAL SERVICER

 

 

 

Wells
Fargo Bank, National Association

     as
Trustee and as Certificate Administrator

9062 Old Annapolis Road

Columbia,
Maryland 21045-1951

Attention:
Corporate Trust Services (CMBS)

BBCMS
Mortgage Trust 2019-C3

Email:
trustadministrationgroup@wellsfargo.com and

cts.cmbs.bond.admin@wellsfargo.com

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851
Mastin Street, Suite 700

Overland
Park, Kansas 66210

Attention:
Executive Vice President – Division Head

Fax
Number: (888) 706-3565

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3,
                                         Recommendation of Replacement of Special Servicer 

 

Ladies
and Gentlemen:

 

This
letter is delivered pursuant to Section 7.01(d) of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling
and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services,
a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association,
as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations
Reviewer, on behalf of the holders of BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
(the “Certificates”) regarding the replacement of the Special Servicer. Capitalized terms used and not otherwise
defined herein shall have the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

Based
upon our review of the Special Servicer’s actions conducted pursuant to and in accordance with Section 3.26 of the
Pooling and Servicing Agreement, it is our assessment that Midland Loan Services, a Division of PNC Bank, National Association,
in its current capacity as Special Servicer, is not [performing its duties under the Pooling and Servicing Agreement][acting in
accordance with the Servicing Standard]. The following factors support our assessment: [________].

 

    W-1

     

    

 

Based
upon such assessment, we further hereby recommend that Midland Loan Services, a Division of PNC Bank, National Association be
removed as Special Servicer and that [________] be appointed its successor in such capacity.

 

	 	Very
    truly yours,
	 	 
	 	[The
    Operating Advisor]
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:
	 	 	 
	Dated:	 	 

 

    W-2

     

    

 

EXHIBIT
X

FORM OF CONFIDENTIALITY AGREEMENT

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Facsimile number: (888) 706-3565

 

		Re:	Access
                                         to Certain Information Regarding BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through
                                         Certificates, Series 2019-C3 

 

Ladies
and Gentlemen:

 

Reference
is hereby made to that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing Agreement”),
among Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer. Defined terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.

 

Midland
Loan Services, a Division of PNC Bank, National Association (“Midland”) understands that [____] (the “Company”)
is requesting certain confidential or non-public information relating to the Mortgage Loans to which the Company has continuing
rights as a Certificateholder. The Company is requesting such information for the purpose of analyzing asset performance and evaluating
any continuing rights the Company may have under the Trust (the “Permitted Purpose”). The Company agrees that
the Permitted Purpose shall not include the use or disclosure of the Confidential Information (as defined below) in any manner
that violates any applicable law, the Pooling and Servicing Agreement or the related mortgage loan documents.

 

Midland
will provide the Company with certain confidential, non-public servicing information (the “Confidential Information”)
pertaining to the Mortgage Loans and the related Mortgaged Properties and borrowers. The Company acknowledges that the Confidential
Information (a) includes or may be based upon information provided to Midland by third parties, (b) may not have been
verified by Midland, and (c) may be incomplete or contain inaccuracies. The Company agrees that Midland, the [“Master
Servicer”/ “Special Servicer”] (as defined in the Pooling and Servicing Agreement) and its respective
Representatives (as defined below) shall not have any liability to the Company or its Representatives resulting from (x) any
inaccuracies or omissions in the Confidential Information, (y) any use of the Confidential Information, or (z) Midland’s
failure or inability to provide the Confidential Information to the Company for any reason. Notwithstanding the foregoing, the
following will not constitute “Confidential Information” for purposes of this letter agreement: (a) information
that was already in Company’s possession prior to its receipt from Midland; (b) information that is obtained by Company
from a third person who, insofar as is known to Company, is not prohibited from transmitting the

 

    X-1

     

    

 

information
to Company by a contractual, legal or fiduciary obligation to Midland; (c) information that is or becomes publicly available
through no fault of Company; and (d) information that is independently developed by Company. The term “Representatives”
with respect to any entity shall mean the officers, directors, general partners, employees, agents, affiliates, auditors and legal
counsel (which may be internal counsel) of that entity.

 

The
Company may have access to the Confidential Information through (at Midland’s election): (i) responses to reasonable
written inquiries received from the Company, (ii) conference calls conducted on a reasonably scheduled basis with Midland’s
surveillance group, or (iii) direct on-line access (read-only capacity) to the information available on the applicable [____]
system or any successor or replacement system (“System”). Midland may cease or defer providing the Company
with Confidential Information in the event that (a) the Company or its Representatives violate any provision hereof, or (b) 
Midland determines (in its sole discretion) that such termination is necessary for any reason, including its determination that
such action is required pursuant to the terms of the Pooling and Servicing Agreement, the related Mortgage Loan documents, or
any applicable law. Midland shall cease to provide the Company with Confidential Information if Midland has actual knowledge that
the Company or its Representatives are affiliates of any borrower under the Mortgage Loan documents and Midland determines that
the provision, notice or access to such Confidential Information would violate the accepted servicing practices or servicing standards
as defined in the Pooling and Servicing Agreement. The Company’s obligations and the restrictions applicable to the protection
of the Confidential Information hereunder shall survive the termination of the Company’s access to the Confidential Information.
Midland’s remedies hereunder, at law or at equity, are cumulative and may be combined.

 

The
Company agrees that it will not, and it shall not permit its Representatives, to disclose the Confidential Information in any
manner whatsoever to any other person or entity, other than its Representatives (but only to the extent necessary to accomplish
the Permitted Purpose) who have a need to know the information, or as otherwise required by applicable law, court order or any
governmental agency or regulator. The Company acknowledges (i) its obligations under the U.S. federal securities laws,
and (ii) that any disclosure of the Confidential Information by it or its Representatives for any purpose other than a Permitted
Purpose, in addition to being a breach of this letter agreement, may constitute a violation of federal and state securities laws.
The Company will take reasonable measures to ensure that each Representative is advised of this letter agreement and agrees to
keep the Confidential Information confidential. The Company shall be liable for any breach of this letter agreement by its Representatives.
Notwithstanding the foregoing, the Company may subsequently provide all or any part of such Confidential Information to any other
person or entity that holds or is contemplating the purchase of any Certificate or interest therein, but only if such person or
entity confirms such ownership interest or prospective ownership interest and provided that, prior to the delivery of such
Confidential Information, such persons shall have executed and delivered to the Company an agreement that is substantially similar
in form and substance to this agreement.

 

This
letter agreement shall be governed by and construed in accordance with the laws of the State of New York without the application
of conflict of laws principles. Anything herein to the contrary notwithstanding, Midland intends at all times to comply with the
terms and provisions of the Pooling and Servicing Agreement and nothing in this letter agreement should be construed to limit
or qualify any of Midland’s rights or obligations under the Pooling and Servicing

 

    X-2

     

    

 

Agreement.
This letter agreement may be executed in counterparts and by facsimile/Portable Document Format (PDF); each such counterpart shall
be deemed to be an original instrument, and all such counterparts together shall constitute one agreement.

 

This
agreement shall terminate with respect to the information received by the Company one year after the Company receives such information
or ceases to be a Certificateholder. Company agrees that this letter agreement supersedes and replaces and survives any click-through
agreement regarding confidentiality of Confidential Information agreed to in connection with accessing the System whether agreed
to in accessing the System before or after signing this letter agreement.

 

Please
have an authorized signatory countersign in the space provided below to indicate the Company’s confirmation of, and agreement
to, the matters set forth herein.

 

	 	Very
    truly yours,
	 	 	 
	 	MIDLAND
    LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

	CONFIRMED
    AND AGREED TO:	 
	 	 
	[COMPANY
    NAME]	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:]	 
	 	 

 

    X-3

     

    

 

EXHIBIT
Y

FORM CERTIFICATION TO BE PROVIDED WITH FORM 10-K

 

CERTIFICATION

 

I,
[identifying the certifying individual], [the President] [the Chief Executive Officer] of Barclays Commercial Mortgage Securities
LLC, the depositor into the above-referenced Trust, certify that:

 

1.        I have reviewed this report on Form 10-K, and all reports on Form 10-D required to be filed in respect of the period
covered by this report on Form 10-K of the BBCMS Mortgage Trust 2019-C3 (the “Exchange Act periodic reports”);

 

2.        Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

 

3.        Based on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for
the period covered by this report is included in the Exchange Act periodic reports;

 

4.        Based on my knowledge and the servicer compliance statements required in this report under Item 1123 of Regulation AB, and
except as disclosed in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements
in all material respects; and

 

5.        All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation
reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report
in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to
this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have
been disclosed in this report on Form 10-K.

 

    Y-1

     

    

  

In
giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties:
[(A) Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association,
as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, (B) [list other applicable
parties to servicing agreements for Non-Serviced Mortgage Loans].

 

	Date:	 	 

 

	 
	[President]
    [Chief Executive Officer] Barclays Commercial Mortgage Securities LLC (Senior officer in charge of the securitization of  the
    depositor)	 

 

    Y-2

     

    

 

EXHIBIT
Z-1

FORM OF CERTIFICATION TO BE PROVIDED TO DEPOSITOR BY CERTIFICATE 

ADMINISTRATOR

 

BBCMS
MORTGAGE TRUST 2019-C3 (the “Trust”)

 

The
undersigned, __________, a __________ of WELLS FARGO BANK, NATIONAL ASSOCIATION, on behalf of WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Certificate Administrator (in such capacity, the “Certificate Administrator”), under that certain Pooling
and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), entered into by
Barclays Commercial Mortgage Securities LLC (the “Depositor”), as depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as master servicer (in such capacity, the “Master Servicer”) and as special
servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank, National Association, as trustee, the
Certificate Administrator, and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, certifies
to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their
respective] officers, directors and affiliates, to the extent that the following information is within our normal area of responsibilities
and duties under the Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification,
that:

 

1.                 
I have reviewed the annual report on Form 10-K for the fiscal year 20[__] (the “Annual Report”), and all
reports on Form 10-D and Form 8-K to be filed in respect of periods included in the year covered by the Annual Report
(collectively with the Annual Report, the “Reports”), of the Trust;

 

2.                 
To my knowledge, the Reports taken as a whole, do not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading
with respect to the period covered by the Annual Report;

 

3.                 
To my knowledge, the distribution information required to be provided by the Certificate Administrator under the Pooling and Servicing
Agreement for inclusion in the Reports is included in the Reports;

 

4.                 
I am responsible for reviewing the activities performed by the Certificate Administrator under the Pooling and Servicing Agreement
and based on my knowledge and the compliance reviews conducted in preparing the Certificate Administrator compliance statements
required for inclusion on Form 10-K pursuant to Item 1123 of Regulation AB, and except as disclosed on any Reports,
the Certificate Administrator has fulfilled its obligations in all material respects under the Pooling and Servicing Agreement;
and

 

5.                 
The report on assessment of compliance with servicing criteria applicable to the Certificate Administrator for asset-backed securities
with respect to the Certificate Administrator or any Servicing Function Participant retained by the Certificate Administrator
and related attestation report on assessment of compliance with servicing criteria applicable to it

 

    Z-1-1

     

    

 

required
to be included in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation
AB and Exchange Act Rules 13a-18 and 15d-18 has been provided to the Depositor for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Depositor for disclosure in such annual
report on Form 10-K.

 

In
giving the certifications above, the Certificate Administrator has reasonably relied on information provided to it by the following
unaffiliated persons: the Master Servicer, the Special Servicer, the Depositor, the Trustee and/or the Custodian.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

 

	Date:	 	 

 

	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION
			 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    Z-1-2

     

    

 

EXHIBIT
Z-2

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY MASTER SERVICER

 

BBCMS
MORTGAGE TRUST 2019-C3 (the “Trust”)

 

I,
[identify the certifying individual], a [_______________] of MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,
as Master Servicer under that certain Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing
Agreement”), entered into by Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as master servicer (in such capacity, the “Master Servicer”) and as special
servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank, National Association, as trustee and
as certificate administrator (in such capacity, the “Certificate Administrator”), and Pentalpha Surveillance
LLC, as operating advisor and as asset representations reviewer, on behalf of the Master Servicer, certify to [Name of Certifying
Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their respective] officers,
directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

 

1.                 
Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant Period”),
and assuming the accuracy of the statements required to be made by the Special Servicer in the special servicer backup certificate
delivered by the Special Servicer relating to the Relevant Period, all servicing information and all reports (the “Servicer
Reports”) required to be submitted by the Master Servicer to the Certificate Administrator pursuant to Sections 3.12(b)
and (d) of the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the Relevant Period and
inclusion in all reports on Form 10-D or Form 8-K have been submitted by the Master Servicer to the Certificate Administrator
for inclusion in these reports;

 

2.                 
Based on my knowledge, and assuming the accuracy of the statements required to be made by the Special Servicer in the special
servicer backup certificate delivered by the Special Servicer relating to the Relevant Period, the master servicing information
contained in the Servicer Reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by these reports;

 

3.                 
I am, or a Servicing Officer under my supervision is, responsible for reviewing the activities performed by the Master Servicer
under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance reviews conducted in preparing
the servicer compliance statements required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion
on Form 10-K pursuant to Item 1123 of Regulation AB with respect to the Master Servicer, and except as disclosed in
the compliance certificate delivered by the Master Servicer under Section 11.09 of the Pooling and Servicing Agreement, the

 

    Z-2-1

     

    

 

Master
Servicer has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects during the Relevant
Period;

 

4.                 
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Master Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Master Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

5.                 
The report on assessment of compliance with servicing criteria applicable to the Master Servicer for asset-backed securities with
respect to the Master Servicer or any Servicing Function Participant retained by the Master Servicer and related attestation report
on assessment of compliance with servicing criteria applicable to it required to be included in the annual report on Form 10-K
for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided
to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances
of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure
in such annual report on Form 10-K.

 

[In
giving the certification above, I have reasonably relied on and make no certification as to information provided to me by the
following unaffiliated parties: [name(s) of third parties (including the Special Servicer, but other than a Sub-Servicer, Additional
Servicer or any other third party retained by the Master Servicer that is not a Sub-Servicer appointed pursuant to Section 3.20
of the Pooling and Servicing Agreement) and, notwithstanding the foregoing certifications, neither I nor the Master Servicer makes
any certification under the foregoing clauses (2) and (3) with respect to the information in the Servicer Reports that
is in turn dependent upon information provided by the Special Servicer under the Pooling and Servicing Agreement. Solely with
respect to the completeness of information and reports, I do not certify anything other than that all fields of information called
for in written reports prepared by the Master Servicer have been properly completed and that any fields that have been left blank
on their face have been done so in accordance with the CREFC procedures for such report.]

  

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

 

	 	MIDLAND
                                         LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

  

    Z-2-2

     

    

 

 EXHIBIT
Z-3

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY SPECIAL SERVICER

 

BBCMS
MORTGAGE TRUST 2019-C3 (the “Trust”)

 

I,
[identify the certifying individual], a [_______________ ] of Midland Loan Services, a Division of PNC Bank, National Association
as Special Servicer under that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing
Agreement”), entered into by Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as master servicer (in such capacity, the “Master Servicer”) and as special
servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank, National Association, as trustee (in
such capacity, the “Trustee”) and as certificate administrator (in such capacity, the “Certificate
Administrator”), and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, on behalf
of the Special Servicer, certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the
Other Depositor] and [its][their respective] officers, directors and affiliates, and with the knowledge and intent that they will
rely upon this certification, that:

 

1.                 
Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant Period”),
all servicing information and all required reports (the “Special Servicer Reports”) required to be submitted
by the Special Servicer pursuant to the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for
the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K have been submitted by the Special Servicer
to the Master Servicer, the Depositor, the Trustee or the Certificate Administrator, as applicable, for inclusion in these reports;

 

2.                 
Based on my knowledge, the special servicing information contained in the Special Servicer Reports, taken as a whole, does not
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with respect to the period covered by these reports;

 

3.                 
I am, or a Servicing Officer under my supervision is, responsible for reviewing the activities performed by the Special Servicer
under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance reviews conducted in preparing
the servicer compliance statements required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion
in the Form 10-K under Item 1123 of Regulation AB with respect to the Special Servicer, and except as disclosed in the
compliance certificate delivered by the Special Servicer under Section 11.09 of the Pooling and Servicing Agreement, the
Special Servicer has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects during the Relevant
Period;

 

4.                 
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Special Servicer

 

    Z-3-1

     

    

 

with
respect to the Trust’s fiscal year _____ have been provided all information relating to the Special Servicer assessment
of compliance with the Relevant Servicing Criteria, in order to enable them to conduct a review in compliance with the standards
for attestation engagements issued or adopted by the PCAOB; and

 

5.                 
The report on assessment of compliance with servicing criteria applicable to the Special Servicer for asset-backed securities
with respect to the Special Servicer or any Servicing Function Participant retained by the Special Servicer and related attestation
report on assessment of compliance with servicing criteria applicable to it required to be included in the annual report on Form 10-K
for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided
to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances
of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure
in such annual report on Form 10-K.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

 

	 	MIDLAND
                                         LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

	 	 	
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    Z-3-2

     

    

 

EXHIBIT
Z-4

FORM OF CERTIFICATION TO BE PROVIDED TO DEPOSITOR BY TRUSTEE

 

BBCMS
MORTGAGE TRUST 2019-C3 (The “Trust”)

 

The
undersigned, __________, a __________ of WELLS FARGO BANK, NATIONAL ASSOCIATION, on behalf of WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee (in such capacity, the “Trustee”), under that certain Pooling and Servicing Agreement, dated as
of June 1, 2019 (the “Pooling and Servicing Agreement”), entered into by Barclays Commercial Mortgage Securities
LLC, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer (in such capacity,
the “Master Servicer”) and as special servicer (in such capacity, the “Special Servicer”),
the Trustee, Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”), and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, certifies
to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their
respective] officers, directors and affiliates, to the extent that the following information is within our normal area of responsibilities
and duties under the Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification,
that:

 

The
report on assessment of compliance with servicing criteria applicable to the Trustee for asset-backed securities with respect
to the Trustee or any Servicing Function Participant retained by the Trustee and related attestation report on assessment of compliance
with servicing criteria applicable to it required to be included in the annual report on Form 10-K for the Relevant Period
in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided to the Depositor
and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances of noncompliance
described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure in such annual
report on Form 10-K.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

 

	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION

	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    Z-4-1

     

    

 

EXHIBIT
Z-5

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY OPERATING ADVISOR

 

BBCMS
MORTGAGE TRUST 2019-C3 (the “Trust”)

 

I,
[identify the certifying individual], a [_______________] of Pentalpha Surveillance LLC (the “Operating Advisor”)
as Operating Advisor under that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling and Servicing
Agreement”), entered into by Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as master servicer (in such capacity, the “Master Servicer”) and as special
servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank, National Association, as trustee and
as certificate administrator (in such capacity, the “Certificate Administrator”) and Pentalpha Surveillance
LLC, as Operating Advisor and as asset representations reviewer, on behalf of the Operating Advisor, certify to [Name of Certifying
Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their respective] officers,
directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

 

1.                 
Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant Period”),
all information required to be submitted by the Operating Advisor to the Master Servicer, the Depositor, Trustee or Certificate
Administrator, as applicable, pursuant to the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K
for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the “Reports”) (such
information provided by the Operating Advisor, collectively, the “Operating Advisor Periodic Information”)
have been submitted by the Operating Advisor to the Master Servicer, the Depositor, the Trustee or the Certificate Administrator,
as applicable, for inclusion in these reports;

 

2.                 
Based on my knowledge, the Operating Advisor Periodic Information contained in the Reports, taken as a whole, does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by these reports;

 

3.                 
The accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Operating Advisor with respect to the Trust’s fiscal year ________ have been provided all information
relating to the Operating Advisor’s assessment of compliance with the Relevant Servicing Criteria, in order to enable them
to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

4.                 
The report on assessment of compliance with servicing criteria applicable to the Operating Advisor for asset-backed securities
with respect to the Operating Advisor or any Servicing Function Participant retained by the Operating Advisor and related attestation
report on assessment of compliance with servicing criteria applicable to it required to be included in the

 

    Z-5-1

     

    

 

annual
report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and the
Depositor for disclosure in such annual report on Form 10-K.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

  

	 	PENTALPHA
    SURVEILLANCE LLC, 

	 	 	as Operating Advisor
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

  

    Z-5-2

     

    

 

EXHIBIT
Z-6

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY CUSTODIAN

 

BBCMS
MORTGAGE TRUST 2019-C3 (The “Trust”)

 

The
undersigned, __________, a __________ of WELLS FARGO BANK, NATIONAL ASSOCIATION, on behalf of WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Custodian (the “Custodian”), under that certain Pooling and Servicing Agreement, dated as of June 1, 2019
(the “Pooling and Servicing Agreement”), entered into by Barclays Commercial Mortgage Securities LLC, as depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as master servicer (in such capacity, the “Master
Servicer”) and as special servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank,
National Association, as trustee and as certificate administrator (in such capacity, the “Certificate Administrator”),
and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, certifies to [Name of Certifying Person(s)
for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their respective] officers, directors
and affiliates, to the extent that the following information is within our normal area of responsibilities and duties under the
Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification, that:

 

The
report on assessment of compliance with servicing criteria applicable to the Custodian for asset-backed securities with respect
to the Custodian or any Servicing Function Participant retained by the Custodian and related attestation report on assessment
of compliance with servicing criteria applicable to it required to be included in the annual report on Form 10-K for the
Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided
to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances
of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure
in such annual report on Form 10-K.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

 

	 	WELLS
    FARGO BANK, NATIONAL 

	 	 	ASSOCIATION
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    Z-6-1

     

    

 

EXHIBIT
Z-7

FORM OF CERTIFICATION TO BE PROVIDED TO DEPOSITOR BY ASSET REPRESENTATIONS REVIEWER

 

BBCMS
MORTGAGE TRUST 2019-C3 (the “Trust”)

 

I,
[identify the certifying individual], a [_______________] of Pentalpha Surveillance LLC (the “Asset Representations Reviewer”)
as Asset Representations Reviewer under that certain Pooling and Servicing Agreement dated as of June 1, 2019 (the “Pooling
and Servicing Agreement”), entered into by Barclays Commercial Mortgage Securities LLC, as depositor, Midland Loan Services,
a Division of PNC Bank, National Association, as master servicer (in such capacity, the “Master Servicer”)
and as special servicer (in such capacity, the “Special Servicer”), Wells Fargo Bank, National Association,
as trustee and as certificate administrator (in such capacity, the “Certificate Administrator”) and Pentalpha
Surveillance LLC, as operating advisor and as Asset Representations Reviewer, on behalf of the Asset Representations Reviewer,
certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, [Name of the Other Depositor] and [its][their
respective] officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification,
that:

 

1.                 
Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant Period”),
all information required to be submitted by the Asset Representations Reviewer to the Master Servicer, the Depositor, Trustee
or Certificate Administrator, as applicable, pursuant to the Pooling and Servicing Agreement for inclusion in the annual report
on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the “Reports”)
(such information provided by the Asset Representations Reviewer, collectively, the “Asset Representations Reviewer Periodic
Information”) have been submitted by the Asset Representations Reviewer to the Master Servicer, the Depositor, the Trustee
or the Certificate Administrator, as applicable, for inclusion in these reports; and

 

2.                 
Based on my knowledge, the Asset Representations Reviewer Periodic Information contained in the Reports, taken as a whole, does
not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading with respect to the period covered by these reports.

 

    Z-7-1

     

    

 

Capitalized
terms used but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

	Date:	 	 

 

	 	PENTALPHA
    SURVEILLANCE LLC

	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

  

    Z-7-2

     

    

 

EXHIBIT
AA

SERVICING CRITERIA TO BE ADDRESSED

IN ASSESSMENT OF COMPLIANCE

 

The
assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as
“Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission
or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based
on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). In addition, this
Exhibit AA shall not be construed to impose on any Person any servicing duty that is not otherwise imposed on such Person
under the main body of the Pooling and Servicing Agreement of which this Exhibit AA forms a part or to require an assessment
of a criterion that is not encompassed by the servicing duties of the applicable party that are set forth in the main body of
such Pooling and Servicing Agreement. For the avoidance of doubt, for purposes of this Exhibit AA, other than with respect
to Item 1122(d)(2)(iii), references to Servicer below shall include any Sub-Servicer engaged by the Master Servicer or the
Special Servicer.

  

	 	APPLICABLE
    SERVICING CRITERIA	APPLICABLE
    PARTY
	Reference	Criteria	 
	 	Servicing
    Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master
    Servicer

    Special Servicer

    Custodian (as applicable)
	1122(d)(1)(v)	Aggregation
    of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Certificate
    Administrator

 

    AA-1

     

    

 

	 	APPLICABLE
    SERVICING CRITERIA	APPLICABLE
    PARTY
	Reference	Criteria	 
	 	Servicing
    Considerations	 
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Trustee
    (as applicable)1

    Master Servicer

    Special Servicer
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.  For
    purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution
    means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts.  These reconciliations (A) are mathematically accurate; (B) are prepared within
    30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements;
    (C) are reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain
    explanations for reconciling items.  These reconciling items are resolved within 90 calendar days of their original
    identification, or such other number of days specified in the transaction agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements.  Specifically, such reports (A) are prepared in accordance with timeframes
    and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms
    specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations;
    and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number
    of mortgage loans serviced by the Reporting Servicer.	Certificate
    Administrator

    Operating Advisor (with respect to A and B)
	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	Certificate
    Administrator
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	Certificate
    Administrator

 

 

 1   
Only to the extent that the Trustee was required to make an Advance pursuant to the Pooling and Servicing Agreement during the
applicable calendar year.

 

    AA-2

     

    

 

	 	APPLICABLE
    SERVICING CRITERIA	APPLICABLE
    PARTY
	Reference	Criteria	 
	 	Servicing
    Considerations	 
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Certificate
    Administrator
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Custodian

    Master Servicer

    Special Servicer
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	Custodian
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Certificate
                                         Administrator 

        Master
        Servicer

        Special Servicer

        

	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage
    loan documents.	Master
    Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Master
    Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are
    made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Master
    Servicer

    Special Servicer
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures
    and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
    Servicer

    Operating Advisor
	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements.  Such records are maintained on at least a monthly basis, or such other period specified in the transaction
    agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone
    calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master
    Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Master
    Servicer

 

    AA-3

     

    

 

	 	APPLICABLE
    SERVICING CRITERIA	APPLICABLE
    PARTY
	Reference	Criteria	 
	 	Servicing
    Considerations	 
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts):  (A) such funds are analyzed, in accordance
    with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction
    agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan
    documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of
    the related mortgage loans, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master
    Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xiv)	Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master
    Servicer
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB,
    is maintained as set forth in the transaction agreements.	N/A

 

At
all times that the Certificate Administrator and the Trustee are the same entity, the Trustee and Certificate Administrator may
provide a combined assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation
AB.

 

At
all times that the Master Servicer and the Special Servicer are the same entity, the Master Servicer and the Special Servicer,
may provide a combined assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation
AB.

  

    AA-4

     

    

 

EXHIBIT
BB

ADDITIONAL FORM 10-D DISCLOSURE

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.04 of the Pooling and Servicing
Agreement to disclose to the Depositor and the Certificate Administrator (or the Master Servicer to the extent specified in Section
11.04 of the Pooling and Servicing Agreement) any information described in the corresponding Form 10-D Item described in the “Item
on Form 10-D” column to the extent such party has actual knowledge (and in the case of net operating income information,
financial statements, annual operating statements, budgets and/or rent rolls required to be provided in connection with Item 6
below, possession) of such information (other than information as to itself). Each of the Certificate Administrator, the Trustee,
the Master Servicer and the Special Servicer shall be entitled to rely on the accuracy of the Prospectus (other than information
with respect to itself that is set forth in or omitted from the Prospectus), in the absence of specific written notice to the
contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the Master Servicer,
and the Special Servicer shall be entitled to conclusively assume that there is no “significant obligor” other than
a party or property identified as such in the Prospectus and to assume that no other party or property will constitute a “significant
obligor” after the Cut-off Date. In no event shall the Master Servicer or the Special Servicer be required to provide any
information for inclusion in a Form 10-D that relates to any Mortgage Loan for which the Master Servicer or the Special Servicer
is not the Master Servicer or the Special Servicer, as the case may be. For this Series 2019-C3 Pooling and Servicing Agreement,
each of the Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer shall be entitled to assume that
there is no provider of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation
AB.

 

	Item
    on Form 10-D	Party
    Responsible
	Item
                                         1: Distribution and Pool Performance Information:

        ● Item
        1121(a)(13) of Regulation AB

        ● Item
        1121(a)(14) of Regulation AB
	● Certificate
                                         Administrator

        ● Depositor

         

	Item
                                         1A: Asset-Level Information 

        ● Item
        1111(h) of Regulation AB

        ● Item
        1125 of Regulation AB
	● Master
    Servicer
	Item
                                         1B: Asset Representations Reviewer and Investor Communication:

        ● Item
        1121(d) of Regulation AB

        ● Item
        1121(e) of Regulation AB 
	● Certificate
                                         Administrator

        ● Depositor

        ● Asset
        Representations Reviewer (with respect to Item 1121(d) of Regulation AB only)

 

    BB-1

     

    

 

	Item
    on Form 10-D	Party
    Responsible
	Item
                                         2: Legal Proceedings:

        ●
        Item 1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described
        therein that are material to security holders)

         
	● Master
                                         Servicer (as to itself)

        ● Special
        Servicer (as to itself)

        ● Certificate
        Administrator (as to itself)

        ● Trustee
        (as to itself)

        ● Depositor
        (as to itself)

        ● Operating
        Advisor (as to itself)

        ● Any
        other Reporting Servicer (as to itself)

        ● Trustee/Certificate
        Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of
        the proceedings)

        ● Each
        Mortgage Loan Seller as sponsor (as defined in Regulation AB)

        ● Originators
        under Item 1110 of Regulation AB

        ● Party
        under Item 1100(d)(1) of Regulation AB

	Item
    3: Sale of Securities and Use of Proceeds	● Depositor
	Item
    4: Defaults Upon Senior Securities	● Certificate
    Administrator
	Item
    5: Submission of Matters to a Vote of Security Holders	● Certificate
    Administrator
	Item
6: Significant Obligors of Pool Assets:

        ● Item
1112(b) of Regulation AB provided, however, that all of the following conditions shall apply:

        (a)
information shall be required to be reported only with respect to a party or property (if any) identified as a “significant
obligor” in the Prospectus;

        (b)
the information to be reported shall consist of such quarterly and annual operating statements, budgets and rent rolls of the
related Mortgaged Property or REO Property (as applicable), and quarterly and annual financial statements of the related Borrower
(except in the case of an REO Property), received or prepared by the “Party Responsible” pursuant to its obligations
under Section 3.12(b) of this Pooling and Servicing Agreement; provided, however, that for a significant obligor
under item 1101(k)(2) of Regulation AB, only net operating income for the most recent fiscal year and interim period is required
and, if such information for a prior period was required but not previously reported, such information for such prior period;
and 

        (c)
the information shall be reportable in the Form 10-D that relates to the Distribution Date that immediately follows the Collection
Period in which the information was received or prepared by the “Master Servicer (excluding information for which the Special
Servicer is the “Party Responsible”) and Special Servicer (as to
	●
Master Servicer

        ● Special
        Servicer

         

 

    BB-2

     

    

 

	Item
    on Form 10-D	Party
    Responsible
	Specially
    Serviced Loans and REO Properties)” as described in clause (b) above.	 
	Item
7: Change in Sponsor Interest in the Securities:

        ●
Item 1124 of Regulation AB.
	● Each
    Mortgage Loan Seller (as to itself in its capacity as a sponsor as defined in Regulation AB)

	Item
8: Significant Enhancement Provider Information:

        ●
Item 1114(b)(2) and Item 1115(b) of Regulation AB
	● Depositor
	Item
    9: Other Information, but only to the extent of any information that meets all the following conditions: (a) such information
    constitutes “Additional Form 8-K Disclosure” pursuant to Exhibit DD, (b) such information is required to
    be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such
    information was not previously reported as “Additional Form 8-K Disclosure”.	●
Certificate Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent that such party is
the “Party Responsible” with respect to such information pursuant to Exhibit DD.

        ●
Certificate Administrator (including the balances of the Distribution Account, the Interest Reserve Account and the Gain-on-Sale
Reserve Account as of the related Distribution Date and the preceding Distribution Date)

        ●
Master Servicer (with respect to the balance of the Collection Account as of the related Distribution Date and the preceding Distribution
Date)

        ●
Special Servicer (with respect to the balance of each REO Account as of the related Distribution Date and the preceding Distribution
Date)

        ●
Any other party responsible for disclosure items on Form 8-K (including each applicable Seller with respect to Item 1100(e) of
Regulation AB to the extent material to Certificateholders)

	Item
10: Exhibits (no. 3):

        Articles
of incorporation and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K) 
	● Depositor
	Item
10: Exhibits (no. 4):

        With
respect to instruments defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	●
Certificate Administrator

        ●
Depositor

        provided
that, in each case, that this shall in no event be construed to make such party responsible for the initial filing of this
Pooling and Servicing Agreement

        provided,
further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee or Certificate
Administrator, then the Depositor shall be the responsible party.

	Item
10: Exhibits (no. 10):

        Material
contracts (Exhibit No. 10 of Item 601 of Regulation S-K)
	  ● Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans,
    and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.

 

    BB-3

     

    

 

	Item
    on Form 10-D	Party
    Responsible
	Item
10: Exhibits (no. 22):

        Published
Report Regarding Matters Submitted to a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K), but only if the
party that is the “Party Responsible” with respect to Item 5 above elects to publish a report containing the information
required by such Item 5 above and also elects to report the information on Form 10-D by means of filing the published report and
answering Item 5 by referencing the published report.
	●
The applicable party that is the “Party Responsible” with respect to Item 5 as set forth above.

	Item
10: Exhibits (no. 23):

        Consents
of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where the filing of a written consent is required with
respect to material (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement.
	● Depositor

	Item
10: Exhibits (no. 24)

        Power
of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or the name
of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.
	● Certificate
    Administrator

	Item
10: Exhibits (no. 99)

        Additional
exhibits (Exhibit No. 99 of Item 601 of Regulation S-K)
	● Not
    Applicable.
	Item
10: Exhibits (no. 100)

        XBRL-Related
Documents (Exhibit No. 100 of Item 601 of Regulation S-K).
	● Not
    Applicable.
	Item
    10: Exhibits (By Operation of Item 8 Above), but only to the extent of any document that meets all the following conditions:
    (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d) of Exhibit DD,
    (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the
    Form 10-D relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	● Certificate
    Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible”
    for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Master Servicer or the
    Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits
    to a Form 10-K); provided that, in each case, that in the event any reportable agreement is executed by
    the Depositor and the Trustee or Certificate Administrator, then the Depositor shall be the responsible party for this Item
    10.

 

    BB-4

     

    

 

EXHIBIT
CC

ADDITIONAL FORM 10-K DISCLOSURE

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.05 of the Pooling and Servicing
Agreement to disclose to the Depositor and the Certificate Administrator any information described in the corresponding Form 10-K
Item described in the “Item on Form 10-K” column to the extent such party has actual knowledge (and in the case of
net operating income information, financial statements, annual operating statements, budgets and/or rent rolls required to be
provided in connection with 1112(b) below, possession) of such information (other than information as to itself). Each of the
Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer shall be entitled to rely on the accuracy
of the Prospectus (other than information with respect to itself that is set forth in or omitted from the Prospectus), in the
absence of specific written notice to the contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate Administrator,
the Trustee, the Master Servicer and the Special Servicer shall be entitled to conclusively assume that there is no “significant
obligor” other than a party or property identified as such in the Prospectus and to assume that no other party or property
will constitute a “significant obligor” after the Cut-off Date. In no event shall the Master Servicer or the Special
Servicer be required to provide any information for inclusion in a Form 10-K that relates to any Mortgage Loan for which the Master
Servicer or the Special Servicer is not the Master Servicer or the Special Servicer, as the case may be. For this Series 2019-C3
Pooling and Servicing Agreement, each of the Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer
shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within the meaning
of Items 1114 or 1115 of Regulation AB.

 

	Item
    on Form 10-K	Party
    Responsible
	Item
    1B: Unresolved Staff Comments	● Depositor
	Item
9B: Other Information, but only to the extent of any information that meets all the following conditions:

        (a)
such information constitutes “Additional Form 8-K Disclosure” pursuant to Exhibit DD,

        (b)
such information is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form
10-K relates, and

        (c)
such information was not previously reported as “Additional Form 8 K Disclosure” or as “Additional Form 10-D
Disclosure”
	● Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent that such party is the “Party
    Responsible” with respect to such information pursuant to Exhibit DD.

	Item
    15: Exhibits, Financial Statement Schedules (SEE BELOW)	SEE
    BELOW
	Instruction
J(2)(b) (Significant Obligors of Pool Assets) – Part 1 of 3 Parts:

        ●
Item 1112(b) of Regulation AB, but only to the extent that (i) such information was required to have been set forth in the Prospectus,
(ii) such information was not so set forth and (iii) the applicable Master Servicer 
	● The
    applicable Mortgage Loan Seller.

 

    CC-1

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	has
    not previously reported such information as “Additional Form 10-D Information”.	 
	Instruction
J(2)(b) (Significant Obligors of Pool Assets) – Part 2 of 3 Parts:

        ●
Item 1112(b) of Regulation AB, but only to the extent that (i) such information was set forth in the Prospectus and (ii) the applicable
Master Servicer has not previously reported such information or updated versions thereof as “Additional Form 10-D Information”.
	● Depositor
	Instruction
J(2)(b) (Significant Obligors of Pool Assets) – Part 3 of 3 Parts:

        ●
Item 1112(b) of Regulation AB; provided, however, that all of the following conditions shall apply:

        (a)
information shall be required to be reported only with respect to a party or property (if any) identified as a “significant
obligor” in the Prospectus;

        (b) the information to be reported shall consist of such quarterly and annual operating statements,
budgets and rent rolls of the related Mortgaged Property or REO Property (as applicable), and quarterly and annual financial statements
of the related Borrower (except in the case of an REO Property), received or prepared by the “Master Servicer (excluding
information for which the Special Servicer is the “Party Responsible”) and Special Servicer (as to Specially Serviced
Loans and REO Properties)” pursuant to its obligations under Section 3.12(b) of this Pooling and Servicing Agreement; provided,
however, that for a significant obligor described under item 1101(k)(2) of Regulation AB, only net operating income for
the most recent fiscal year and interim period is required and, if such information for a prior period was required but not previously
reported, such information for such prior period; and

        (c)
the information shall be reportable only to the extent that is has not previously been reported as “Additional Form 10-D
Information”.
	● Master
                                         Servicer

         

        ● Special
        Servicer

         

	Instruction
J(2)(c) (Significant Enhancement Provider Information):

        ● Items
        1114(b)(2) and 1115(b) of Regulation AB

         
	● Depositor
	Instruction
J(2)(d) (Legal Proceedings):

        ● Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described
        therein that are material to security holders)

         
	●
Master Servicer (as to itself)

        ●
Special Servicer (as to itself)

        ●
Certificate Administrator (as to itself)

        ●
Trustee (as to itself)

        ●
Depositor (as to itself)

        ●
Trustee/Certificate Administrator / Master Servicer/Depositor/ Special Servicer as to the Trust (whichever of them is in principal
control of the proceedings)

 

    CC-2

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	 	●
Each Mortgage Loan Seller as sponsor (as defined in Regulation AB)

        ●
Originators under Item 1110 of Regulation AB

        ●
Party under Item 1100(d)(1) of Regulation AB

	Instruction
J(2)(e) (Affiliations and Certain Relationships and Related Transactions) – Part 1 of 2 Parts:

        ●
1119(a) of Regulation AB,

        but
only the existence and (if existent) how there is (that is, the nature of) any affiliation between itself (that is, the particular
“Party Responsible”), on the one hand, and any one or more of the following, on the other: (1) the Depositor, (2)
any Mortgage Loan Seller, (3) the Trust and (4) any other party listed under this item as a “Party Responsible”;
provided, however, that an affiliation need not be disclosed for purposes of the applicable Form 10-K if it was
disclosed in the Prospectus or if it was previously reported as “Additional Form 10-K Disclosure”.

        and

        ●
1119(b) of Regulation AB,

        but
only the existence and (if existent) the general character of any business relationship, agreement, arrangement, transaction or
understanding that is entered into outside the ordinary course of business or is on terms other than would be obtained in an arm’s
length transaction with an unrelated third party (apart from the Series 2019-C3 transaction) between itself (that is, the particular
“Party Responsible”) or any of its affiliates, on the one hand, and any one or more of the following, on the other:
(1) the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust; provided, however, that a relationship, agreement,
arrangement, transaction or understanding (A) must be reported only if it then exists or existed within the two prior years, (B)
need not be reported if it is not material to an investor’s understanding of the Certificates and (C) need not be disclosed
for purposes of the applicable Form 10 K if it was disclosed in the Prospectus or if it was previously reported as “Additional
Form 10-K Disclosure”.

        and

        ●
1119(c) of Regulation AB,

        but
        only the existence and (if existent) a description (including the terms and approximate dollar amount) of any specific
        relationship involving or related to the Series 2019-C3 transaction or the Mortgage Loans between itself (that is, the
        particular “Party Responsible”) or any of its affiliates, on the one hand, and any one or more of the following,
        on the other: (1) the Depositor, (2) any Mortgage Loan Seller, and (3) the Trust; provided, however, that
        a relationship (A) must

        
	●
Master Servicer (as to itself) (only as to affiliations under Item 1119(a) with the Trustee, Certificate Administrator, Special
Servicer or a sub-servicer retained by it meeting any of the descriptions in Item 1108(a)(3)).

        ●
Special Servicer

        ●
Certificate Administrator

        ●
Trustee

        ●
Each party (other than a Mortgage Loan Seller), if any, that is identified in the Prospectus as an “originator” of
one or more Mortgage Loans, if the Prospectus specifically states that the applicable Mortgage Loans were 10% or more of the assets
of the Trust at the date of the Prospectus (provided that such a party shall no longer constitute a “Party Responsible”
under this item from and after the date (if any) when the Depositor notifies the parties to the Pooling and Servicing Agreement
to the effect that such party no longer constitutes an originator of 10% or more of the assets of the Trust).

        ●
Each party (other than a Mortgage Loan Seller), if any, that is specifically identified as an “originator of 10% or more
of the assets of the Trust for purposes of Regulation AB and the upcoming Form 10 K” in a written notice delivered to the
parties to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year in which the
Form 10 K is due.

        ●
Each party (if any) that is identified in the Prospectus as an “other material party to the securities or transaction”
(or substantially similar phrasing); provided, however, that such a party shall no longer constitute a “Party Responsible”
under this item from and after the date (if any) when the Depositor notifies the parties to the Pooling and Servicing Agreement
to the effect that such party no longer constitutes a material party for purposes of Regulation AB.

        ● Each
        party (if any) that that is specifically identified as an “other material party to the securities or transaction
        for purposes of Regulation AB and the upcoming Form 10 K” (or substantially similar phrasing) in a written notice
        delivered by the Depositor to the parties to this Pooling and Servicing Agreement, which notice is delivered not later
        than February 15 of the year in which the Form 10 K is due.

         

 

    CC-3

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	be
reported only if it then exists or existed within the two prior years, (B) need not be reported if it is not material to an investor’s
understanding of the Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in
the Prospectus or if it was previously reported as “Additional Form 10 K Disclosure”.
	 
	Instruction
J(2)(e) (Affiliations and Certain Relationships and Related Transactions) – Part 2 of 2 Parts:

        ●
1119(a) of Regulation AB,

        But
only the existence and (if existent) how there is any affiliation between itself (that is, the particular “Party Responsible”),
on the one hand, and any one or more of the parties listed under the preceding item as a “Party Responsible”,
on the other; provided, however, that an affiliation need not be disclosed for purposes of the applicable Form 10-K
if it was disclosed in the Prospectus or if it was previously reported as “Additional Form 10-K Disclosure”.

        and

        ●
1119(b) of Regulation AB,

        but
only the existence and (if existent) the general character of any business relationship, agreement, arrangement, transaction or
understanding that is entered into outside the ordinary course of business or is on terms other than would be obtained in an arm’s
length transaction with an unrelated third party (apart from the Series 2019-C3 transaction) between itself (that is, the particular
“Party Responsible”), on the one hand, and any one or more of the parties listed under the preceding item as
a “Party Responsible”, on the other; provided, however, that a relationship, agreement, arrangement,
transaction or understanding (A) must be reported only if it then exists or existed within the two prior years, (B) need not be
reported if it is not material to an investor’s understanding of the Certificates and (C) need not be disclosed for purposes
of the applicable Form 10-K if it was disclosed in the Prospectus or if it was previously reported as “Additional Form 10-K
Disclosure”.

        and

        ●
1119(c) of Regulation AB,

        but
only the existence and (if existent) a description (including the terms and approximate dollar amount) of any specific relationship
involving or related to the Series 2019-C3 transaction or the Mortgage Loans between itself (that is, the particular “Party
Responsible”) or any of its affiliates, on the one hand, and any one or more of the parties listed under the preceding
item as a “Party Responsible”, on the other; provided, however, that a relationship (A) must be
reported only if it then exists or existed within the two
	●
Depositor

        ● Each
        Mortgage Loan Seller

         

 

    CC-4

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	prior
    years, (B) need not be reported if it is not material to an investor’s understanding of the Certificates and (C) need
    not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus or if it was previously reported
    as “Additional Form 10-K Disclosure”.	 
	Item
15: Exhibits (no. 2):

        Plan
of acquisition, reorganization, arrangement, liquidation or succession (Exhibit No. 2 of Item 601 of Regulation S-K)
	● Depositor
	Item
15: Exhibits (no. 3):

        Articles
of incorporation and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K)
	● Depositor
	Item
15: Exhibits (no. 4):

        With
        respect to instruments defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	●
Trustee

        ●
Certificate Administrator 

        ●
Depositor

        provided
that, in each case, that this shall in no event be construed to make such party responsible for the initial filing of this
Pooling and Servicing Agreement

        provided,
further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee
or Certificate Administrator, then the Depositor shall be the responsible party.

	Item
15: Exhibits (no. 10):

        Material
        contracts (Exhibit No. 10 of Item 601 of Regulation S-K)

         
	● Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans,
    and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.
	Item
15: Exhibits (no. 11):

        Statement
regarding computation of per share earnings (Exhibit No. 11 of Item 601 of Regulation S-K)
	● Not
    Applicable.
	Item
15: Exhibits (no. 12):

        Statement
regarding computation of ratios (Exhibit No. 12 of Item 601 of Regulation S-K)
	● ●          Not
    Applicable.
	Item
15: Exhibits (no. 13):

        Annual
report to security holders, Form 10 Q and Form 10 QSB, or quarterly report to security holders (Exhibit No. 13 of Item 601 of
Regulation S-K)
	● Not
    Applicable
	Item
15: Exhibits (no. 14):

        Code
of Ethics (Exhibit No. 14 of Item 601 of Regulation S-K).
	● Not
    Applicable
	Item
15: Exhibits (no. 16):

        Letter
re change in certifying accountant (Exhibit No. 16 of Item 601 of Regulation S-K)
	● Not
    Applicable

 

    CC-5

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	Item
15: Exhibits (no. 18):

        Letter
re change in accounting principles (Exhibit No. 18 of Item 601 of Regulation S-K)
	● Not
    Applicable.
	Item
15: Exhibits (no. 21):

        Subsidiaries
of registrant (Exhibit No. 18 of Item 601 of Regulation S-K)
	● Depositor.
	Item
15: Exhibits (no. 22):

        Published
Report Regarding Matters Submitted to a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K).
	● Not
    Applicable.
	Item
15: Exhibits (no. 23) – Part 1 of 2 Parts:

        Consents
of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where (a) the filing of a written consent is required
with respect to material (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement
and (b) the consent is not the consent of a registered public accounting firm in connection with an attestation delivered pursuant
to Section 11.13 of this Pooling and Servicing Agreement.
	● Depositor
	Item
15: Exhibits (no. 23) – Part 2 of 2 Parts:

        Consents
        of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), but the required shall consist of a consent
        of the registered public accounting firm for purposes of any attestation report rendered with respect to the particular
        “Party Responsible” pursuant to Section 11.13 of this Pooling and Servicing Agreement.

         
	●
Master Servicer

        ●
Special Servicer

        ●
Depositor

        ●
Any other Servicing Function Participant

        provided,
however, in each case, that such party shall have the duty to report or deliver, or cause the reporting or delivery, of
such consent only to the extent that such party is required to deliver or cause the delivery of the related attestation report.

	Item
15: Exhibits (no. 24)

        Power
of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or the name
of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.
	● Certificate
    Administrator
	Item
15: Exhibits (no. 31(i))

        Rule
13a-14(a)/15d-14(a) Certifications (Exhibit No. 31(i) of Item 601 of Regulation S-K).
	● Not
    Applicable
	Item
15: Exhibits (no. 31(ii))

        Rule
        13a-14(d)/15d-14(d) Certifications (Exhibit No. 31(ii) of Item 601 of Regulation S-K).

         
	● Delivery
    of this exhibit (Sarbanes-Oxley certification and backup certifications) is     governed by Section 11.08 (and Section 11.07)
    of this Pooling and Servicing Agreement.

	Item
15: Exhibits (no. 32)

        Section
        1350 Certifications (Exhibit No. 32 of Item 601 of Regulation S-K).

         
	● Not
    Applicable.
	Item
15: Exhibits (no. 33)

        Report
on assessment of compliance with servicing criteria for asset-backed securities (Exhibit No. 33 of Item 601 of Regulation S-K). 
	● Delivery
    of this exhibit (annual compliance assessment) is governed by Section 11.10     (and Section 11.07) of this Pooling and Servicing
    Agreement.

 

    CC-6

     

    

 

	Item
    on Form 10-K	Party
    Responsible
	
        Item 15: Exhibits (no. 34)

        Attestation report on assessment of compliance
with servicing criteria for asset-backed securities (Exhibit No. 34 of Item 601 of Regulation S-K).
	  ● Delivery of this exhibit (annual accountants’ attestation report) is governed by Section 11.11 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibits (no. 35)

        Servicer compliance statement (Exhibit No. 35 of
Item 601 of Regulation S-K).
	  ● Delivery of this exhibit (annual servicer compliance statements) is governed by Section 11.09 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibit (no. 36)

        Certification For Shelf Offerings of Asset-Backed
Securities (Exhibit No. 36 of Item 601 of Regulation S-K).
	  ● Depositor
	
        Item 15: Exhibits (no. 99)

        Additional exhibits (Exhibit No. 99 of Item 601
of Regulation S-K)
	  ● Not Applicable.
	
        Item 15: Exhibits (no. 100)

        XBRL-Related Documents (Exhibit No. 100 of Item
601 of Regulation S-K).
	  ● Not Applicable.
	Item 15: Exhibits (By Operation of Item 9B Above), but only to the extent of any document that meets all the following conditions: (a) such document constitutes “Additional Form 8 K Disclosure” pursuant to Item 9.01(d) of Exhibit DD, (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-K relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	  ● Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible” for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Master Servicer or the Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits to a Form 10-K).
	
        Item 15: Exhibit (no. 101)

        Interactive Data File (Exhibit No. 101 of Item
601 of Regulation S-K).
	  ● Not Applicable
	
        Item 15: Exhibit (no. 102)

        Asset Data File (Exhibit No. 102 of Item 601 of
Regulation S-K).
	
        ● Certificate
Administrator

        ● Depositor

         

	
        Item 15: Exhibit (no. 103)

        Asset Related Document (Exhibit No, 103 of Item
601 of Regulation S-K).
	
        ● Certificate
Administrator

        ● Depositor

 

    CC-7

     

    

 

EXHIBIT
DD

FORM 8-K DISCLOSURE INFORMATION

 

The
parties identified in the “Party Responsible” column are obligated pursuant to Section 11.07 of the Pooling and Servicing
Agreement to report to the Depositor and the Certificate Administrator the occurrence of any event described in the corresponding
Form 8-K Item described in the “Item on Form 8-K” column to the extent such party has actual knowledge of such information
(other than information as to itself). Each of the Certificate Administrator, the Trustee, the Master Servicer and the Special
Servicer shall be entitled to rely on the accuracy of the Prospectus (other than information with respect to itself that is set
forth in or omitted from the Prospectus), in the absence of specific written notice to the contrary from the Depositor or a Mortgage
Loan Seller. Each of the Certificate Administrator, the Trustee, the Master Servicer and the Special Servicer shall be entitled
to conclusively assume that there is no “significant obligor” other than a party or property identified as such in
the Prospectus and to assume that no other party or property will constitute a “significant obligor” after the Cut-off
Date. In no event shall the Master Servicer, or the Special Servicer be required to provide any information for inclusion in a
Form 8-K that relates to any Mortgage Loan for which the Master Servicer or the Special Servicer is not the applicable Master
Servicer or Special Servicer, as the case may be. For this Series 2019-C3 Pooling and Servicing Agreement, each of the Certificate
Administrator, the Trustee, the Master Servicer and the Special Servicer shall be entitled to assume that there is no provider
of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item
    on Form 8-K	Party
    Responsible
	Item
    1.01: Entry into a Material Definitive Agreement	●
Depositor, except as described in the next bullet (it being acknowledged that Item 601 of Regulation S-K requires filing of
material contracts to which the registrant or a subsidiary thereof is a party).

        ●
Certificate Administrator, Trustee, Master Servicer and/or Special Servicer (it being acknowledged that Instruction 3 to Item
1.01 of Form 8-K requires disclosure regarding the entry into or an amendment of a definitive agreement that is material to the
asset-backed securities transaction, even if the registrant is not a party to such agreement), in each case to the extent of any
amendment or definitive agreement that satisfies all the following conditions: (a) such amendment or definitive agreement relates
to the Trust or one or more Mortgage Loans or REO Mortgage Loans, and (b) such amendment or definitive agreement is an amendment
or definitive agreement to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party
(or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided,
however, that the Certificate Administrator shall be the “Party Responsible” in  

 

    EE-1

     

    

 

	 	connection
    with any amendment to this Pooling and Servicing Agreement.
	Item
    1.02: Termination of a Material Definitive Agreement– Part 1 of 2 Parts	● Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or REO Mortgage Loans,
    and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust;
    provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection
    with any amendment to this Pooling and Servicing Agreement.
	Item
    1.02: Termination of a Material Definitive Agreement– Part 2 of 2 Parts	● Depositor,
    to the extent of any material agreement not covered in the prior item
	Item
    1.03: Bankruptcy or Receivership	● Depositor
	Item
    2.04: Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
    Arrangement	●
Depositor

        ●
Certificate Administrator

	Item
    3.03: Material Modification to Rights of Security Holders	● Certificate
    Administrator
	Item
    5.03: Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year	● Depositor
	Item
    6.01: ABS Informational and Computational Material	● Depositor
	Item
    6.02 (Part 1 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a change in trustee	●
Trustee

        ●
Depositor

	Item
    6.02 (Part 2 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a change in Master Servicer or
    Special Servicer	●
Certificate Administrator

        ●
Master Servicer or Special Servicer, as the case may be (in each case, as to itself)

	Item
    6.02 (Part 3 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a servicer (other than a party
    to the Pooling and Servicing Agreement) appointed by the particular “Party Responsible”.	●
Master Servicer

        ●
Special Servicer 

        ●
Certificate Administrator

        ●
Depositor

	Item
    6.03: Change in Credit Enhancement or External Support	●
Depositor

        ●
Certificate Administrator

	Item
    6.04: Failure to Make a Required Distribution	● Certificate
    Administrator
	Item
    6.05: Securities Act Updating Disclosure	● Depositor
	Item
    7.01: Regulation FD Disclosure	● Depositor
	Item
    8.01: Other Events	● Depositor
	Item
9.01(d): Exhibits (no. 1):

        Underwriting
agreement (Exhibit No. 1 of Item 601 of Regulation S-K)
	● Not
    applicable
	Item
9.01(d): Exhibits (no. 2):

        
	● Depositor

 

    EE-2

     

    

 

	Plan of acquisition, reorganization, arrangement, liquidation or succession (Exhibit No. 2 of Item 601 of Regulation S-K)	 
	
        Item 9.01(d): Exhibits (no. 3):

        Articles of incorporation and by-laws (Exhibit
No. 3(i) and 3(ii) of Item 601 of Regulation S-K)
	● Depositor
	
        Item 9.01(d): Exhibits (no. 4):

        With respect to instruments defining the rights
of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	
        ● Certificate
Administrator

        provided
that, in each case, that this shall in no event be construed to make such party responsible for the initial filing of this
Pooling and Servicing Agreement 

	
        Item 9.01(d): Exhibits (no. 7):

        Correspondence from an independent accountant regarding
non-reliance on a previously issued audit report or completed interim review. (Exhibit No. 7 of Item 601 of Regulation S-K) 
	● Not Applicable
	
        Item 9.01(d): Exhibits (no. 14):

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation
S-K) 
	● Not Applicable
	
        Item 9.01(d): Exhibits (no. 16):

        Letter re change in certifying accountant (Exhibit
No. 16 of Item 601 of Regulation S-K) 
	● Not Applicable
	
        Item 9.01(d): Exhibits (no. 17):

        Correspondence on departure of director (Exhibit
No. 17 of Item 601 of Regulation S-K) 
	● Not Applicable
	
        Item 9.01(d): Exhibits (no. 20):

        Other documents or statements to security holders
(Exhibit No. 20 of Item 601 of Regulation S-K) 
	● Not Applicable
	
        Item 9.01(d): Exhibits (no. 23):

        Consents of Experts and Counsel (Exhibit No. 23(ii)
of Item 601 of Regulation S-K), where the filing of a written consent is required with respect to material (in the Form 10-D)
that is incorporated by reference in the Depositor’s registration statement. 
	● Depositor
	
        Item 9.01(d): Exhibits (no. 24)

        Power of Attorney (Exhibit No. 24 of Item 601 of
Regulation S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on
behalf of a party, is signed pursuant to a power of attorney. 
	● Certificate Administrator
	
        Item 15: Exhibits (no. 99) 

        Additional exhibits (Exhibit No. 99 of Item 601
of Regulation S-K) 
	● Not Applicable.
	
        Item 15: Exhibits (no. 100)

        XBRL-Related Documents (Exhibit No. 100 of Item
601 of Regulation S-K). 
	● Not Applicable.

 

    EE-3

     

    

 

EXHIBIT
EE

ADDITIONAL DISCLOSURE NOTIFICATION

 

**SEND
VIA FAX TO 410-715-2380 AND VIA EMAIL TO

cts.sec.notifications@wellsfargo.com
AND VIA OVERNIGHT MAIL TO THE ADDRESS

IMMEDIATELY
BELOW**

 

Wells
Fargo Bank, National Association, as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

Barclays Commercial Mortgage Securities LLC, Commercial Mortgage Pass-Through Certificates, Series 2019-C3—SEC REPORT PROCESSING

 

		Re:	**Additional
                                         Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies
and Gentlemen:

 

In
accordance with Section [11.04] [11.05] [11.07] of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling
and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor (the “Depositor”),
Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank,
National Association, as Certificate Administrator and as Trustee, Pentalpha Surveillance LLC, as Operating Advisor and as Asset
Representations Reviewer, the undersigned, as [            ], hereby notifies you that certain events have come to our attention that [will]
[may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

List
of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any
inquiries related to this notification should be directed to [                  ],
phone number: [                    ];
email address: [                    
].

 

	 	[NAME OF PARTY], as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

		cc:	Depositor

 

    EE-4

     

    

 

 

EXHIBIT
FF

INITIAL SUB-SERVICERS

 

KeyBank
National Association

 

Goedecke
& Co., LLC

 

Holliday
Fenoglio Fowler, L.P.

 

PSRS
Administrative Services, LLC

 

    FF-1

     

    

 

EXHIBIT
GG

SERVICING FUNCTION PARTICIPANTS

 

1. KeyBank National Association

 

    GG-1

     

    

 

EXHIBIT
HH

FORM OF ANNUAL COMPLIANCE STATEMENT

 

CERTIFICATION

 

[BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 (the “Trust”)]

 

I,
[identifying the certifying individual], on behalf of [Midland Loan Services, a Division of PNC Bank, National Association, as
Master Servicer] [Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer] [Wells Fargo Bank,
National Association, as Certificate Administrator] [Wells Fargo Bank, National Association, as Trustee] (the “Certifying
Servicer”), certify that:

 

		1.	I
                                         (or Servicing Officers under my supervision) have reviewed the Certifying Servicer’s
                                         activities [during the preceding calendar year] [between [__] and [__]] (the “Reporting
                                         Period”) and the Certifying Servicer’s performance under the [Pooling
                                         and Servicing Agreement] [servicing agreements set forth in the following exhibit]; and

 

		2.	To
                                         the best of my knowledge, based on such review, the Certifying Servicer has fulfilled
                                         all of its obligations under [the Pooling and Servicing Agreement] [each such agreement]
                                         in all material respects during the Reporting Period. [To my knowledge, the Certifying
                                         Servicer has failed to fulfill the following obligations under the [Pooling and Servicing
                                         Agreement] [SPECIFIED SERVICING AGREEMENT]: [SPECIFY EACH SUCH FAILURE AND THE NATURE
                                         AND STATUS THEREOF]].

 

Date:
__________

 

[MIDLAND
LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,

as master servicer]

[MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,

as special servicer]

[WELLS FARGO BANK, NATIONAL ASSOCIATION,

as certificate administrator]

[WELLS FARGO BANK, NATIONAL ASSOCIATION,

as trustee]

 

	By:	 	 
	 	Name:	 
	 	Title:	 

  

    HH-1

     

    

 

EXHIBIT
II

FORM OF REPORT ON ASSESSMENT

OF COMPLIANCE WITH SERVICING CRITERIA

 

[Name
of Reporting Servicer] (the “Reporting Servicer”) is responsible for assessing compliance with the servicing
criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB, as of and for the 12-month period ending
December 31, 20[__] (the “Reporting Period”), as set forth in Exhibit AA to the Pooling and Servicing
Agreement. The transactions covered by this report include asset-backed securities transactions for which the Reporting Servicer
acted as [a master servicer, special servicer, trustee, certificate administrator] involving commercial mortgage loans [other
than __________________1] (the “Platform”);

 

The
Reporting Servicer has engaged certain vendors, which are not servicers as defined in Item 1101(j) of Regulation AB (the
“Vendors”) to perform specific, limited or scripted activities, and the Reporting Servicer elects to take responsibility
for assessing compliance with the servicing criteria or portion of the servicing criteria applicable to such Vendors’ activities
as set forth on Schedule A;

 

Except
as set forth in paragraph 4 below, the Reporting Servicer used the criteria set forth in paragraph (d) of Item 1122
of Regulation AB to assess the compliance with the applicable servicing criteria;

 

The
criteria listed in the column titled “Inapplicable Servicing Criteria” on Schedule A hereto are inapplicable
to the Reporting Servicer based on the activities it performs, directly or through its Vendors, with respect to the Platform;

 

The
Reporting Servicer has complied, in all material respects, with the applicable servicing criteria as of December 31, 20[__]
and for the Reporting Period with respect to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The
Reporting Servicer has not identified and is not aware of any material instance of noncompliance by the Vendors with the applicable
servicing criteria as of December 31, 20[__] and for the Reporting Period with respect to the Platform taken as a whole[,
except as described on Schedule B hereto];

 

The
Reporting Servicer has not identified any material deficiency in its policies and procedures to monitor the compliance by the
Vendors with the applicable servicing criteria as of December 31, 20[__] and for the Reporting Period with respect to the
Platform taken as a whole[, except as described on Schedule B hereto]; and

 

 

 

1       Describe
any permissible exclusions, including those permitted under telephone interpretation 17.04 (i.e., transactions registered prior
to compliance with Regulation AB, transactions involving an offer and sale of asset-backed securities that were not required to
be issued), if applicable.

 

    II-1

     

    

  

[____],
a registered public accounting firm, has issued an attestation report on the Reporting Servicer’s assessment of compliance
with the applicable servicing criteria for the Reporting Period.

 

[Date
of Certification]

 

	 	[NAME
OF REPORTING SERVICER]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    II-2

     

    

 

EXHIBIT
JJ

CREFC® PAYMENT INFORMATION

 

Payments
shall be made to “CRE Finance Council” and sent to:

Commercial Real Estate Finance Council, Inc.

28 West 44th Street, Suite 815

New York, NY 10036

Attn: Executive Director

 

or
by wire transfer to:

Account Name: Commercial Real Estate Finance Council (CREFC®)

Bank Name: Chase

Bank Address: 80 Broadway, New York, NY 10005

Routing Number: 021000021

Account Number: 213597397

 

    JJ-1

     

    

 

EXHIBIT
KK

FORM OF NOTICE OF ADDITIONAL

INDEBTEDNESS

 

VIA
E-MAIL:

 

To:
Wells Fargo Bank, National Association, as Certificate Administrator; cts.cmbs.bond.admin@wellsfargo.com and cts.sec.notifications@wellsfargo.com

 

Ref:
BBCMS 2019-C3, Additional Debt Notice for Form 10-D

 

The
following information is being furnished to you for inclusion on Form 10-D pursuant to Section 3.18(g) of the Pooling and Servicing
Agreement

 

	Portfolio
    Name	Mortgage

    Loan	Position
    in Debt Stack	Additional
    Debt	OPB	OPB
    Date	Appraised
    Value	Appraised
    Value Date	Aggregate
    LTV	Aggregate
    NCF DSCR	Aggregate
    NCF DSCR Date	Primary
    Servicer	Master
    Servicer	Lead
    Servicer	Prospectus
    ID
	BBCMS
    2019-C3	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 
	BBCMS
    2019-C3	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 
	BBCMS
    2019-C3	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 

 

    KK-1

     

    

 

EXHIBIT
LL

[RESERVED]

 

    LL-1

     

    

 

EXHIBIT
MM

ADDITIONAL DISCLOSURE NOTIFICATION (ACCOUNTS)

 

INSTRUCTIONS:

FOR ACCOUNT BALANCE REPORTING: SEND VIA EMAIL TO: CTS.SEC.NOTIFICATIONS@WELLSFARGO.COM

 

FOR
ALL OTHER NOTIFICATIONS: SEND VIA FAX, EMAIL AND OVERNIGHT MAIL TO THE ADDRESS IMMEDIATELY BELOW**

 

Wells
Fargo Bank, National Association, as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS) BBCMS 2019-C3—SEC REPORT PROCESSING

Email: cts.sec.notifications@wellsfargo.com

 

		Re:	**Additional
                                         Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies
and Gentlemen:

 

In
accordance with Section 11.04 of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and
Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor (the “Depositor”),
Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank,
National Association, as Certificate Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as
Asset Representations Reviewer, the undersigned, as [ ], hereby notifies you that certain events have come to our attention that
[will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

[With
respect to the Collection Account and REO Account balance information: 

 

	Account
    Name	Beginning
    Balance as of MM/DD/YYYY	Ending
    Balance as of MM/DD/YYYY
	Master
    Servicer’s Collection Account	 	 
	REO
    Account	 	 

 

    MM-1

     

    

 

List
of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any
inquiries related to this notification should be directed to [                             ], phone number: [           ]; email address: [                     ].

 

	 	[NAME
OF PARTY], as [role]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

		cc:	Depositor

 

    MM-2

     

    

 

EXHIBIT
NN

FORM OF NOTICE OF PURCHASE OF

CONTROLLING CLASS CERTIFICATE

 

[Date]

 

Midland
Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax Number: (888) 706-3565

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Email: trustadministrationgroup@wellsfargo.com

Attention: Corporate Trust Services BBCMS 2019-C3

 

Pentalpha
Surveillance LLC

375 N. French Road, Suite 100

Amherst, New York 14228

Attention: BBCMS 2019-C3 Transaction Manager

with a copy sent via email to:

notices@pentalphasurveillance.com

with BBCMS 2019-C3 in the subject line

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3
                                         (the “Certificates”) issued pursuant to the Pooling and Servicing Agreement
                                         (the “Pooling and Servicing Agreement”), dated as of June 1, 2019, between
                                         Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division
                                         of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells
                                         Fargo Bank, National Association, as Certificate Administrator and as Trustee, Pentalpha
                                         Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer 	 

 

This
letter is delivered to you, pursuant to Section 3.23(a) of the Pooling and Servicing Agreement in connection with the transfer
by ____________ (the “Transferor”) to us (the “Transferee”) of $__________________ original
principal balance in the Class [__] Certificates, representing [_____]% of the Class [__] Certificates. The Certificates were
issued pursuant to the Pooling and Servicing Agreement.

 

1.        
          Our name and address is as follows:

 

    NN-1

     

    

 

	 	 	 
	 	 	 
	 	 	 
	 	Contact Info: [Tel/Email]	 

 

2.                 
[IF APPLICABLE] We hereby certify, represent and warrant to you, as Certificate Administrator, that we are purchasing a majority
interest in the Class [__] Certificates, and that we are not affiliated with the Transferor. To the extent that any Control Termination
Event or Consultation Termination Event has occurred due to a waiver of a prior Class [__] Certificateholder of its rights under
the Pooling and Servicing Agreement, we hereby request that you reinstate such rights and post a “special notice”
on your website to the following effect:

 

“A
Consultation Termination Event or a Control Termination Event has been terminated and is no longer in effect due to a transfer
of a majority interest of the Controlling Class to an unaffiliated third party which has terminated any waiver by the prior Holder.

 

All
capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing
Agreement.

 

 

	 	Very truly yours,
	 	 
	 	(Transferee)
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    NN-2

     

    

 

EXHIBIT
OO

FORM OF ASSET REVIEW REPORT BY THE

ASSET REPRESENTATIONS REVIEWER1

 

To:
[Addresses of Recipients]

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 	 

 

Ladies
and Gentlemen:

 

In
accordance with Section 12.01 of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and
Servicing Agreement”), the undersigned, as asset representations reviewer (the “Asset Representations Reviewer”),
has performed an Asset Review on each Delinquent Loan identified in accordance with the terms of the Pooling and Servicing Agreement,
and is hereby issuing the following Asset Review Report.

 

1.                 
As described in the detailed scorecard attached hereto as Exhibit A, we have performed an Asset Review on each Delinquent Loan
identified in accordance with the Pooling and Servicing Agreement and our conclusion is that there is [no evidence of a Test failure/evidence
of [•] Test failures] with respect to the Delinquent Loans.

 

2.                 
A conclusion by the Asset Representations Reviewer of a Test pass or a Test failure shall not constitute a determination by the
Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or (ii) whether the Trust should enforce
any rights it may have against the applicable Mortgage Loan Seller. In addition, the Tests may not be sufficient to determine
every instance of noncompliance.

 

3.                 
The Asset Representations Reviewer, other than forwarding this report to the persons listed above, will not be required to take
or participate in any other or further action with respect to the aforementioned Asset Review Report.

 

4.                 
Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

 

 

 

1       This
report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter the organization
and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including without limitation,
provisions relating to Privileged Information.

 

    OO-1

     

    

 

	 	PENTALPHA SURVEILLANCE LLC, as Asset
    Representations Reviewer
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    OO-2

     

    

 

Exhibit
A

Detailed Scorecard

 

[Template
Example Below]

 

	Test
    failures
	Loan
    #	Loan
    Name	R&W
    #	R&W
    Name	Test
    Description	Findings
	[Insert
    Loan Number]	[Insert
    Loan Name]	44	Cross-Collateralization	[Insert
    Test Description]	[Insert
    Test findings]
	31	Due
    on Sale or Encumbrance	 	 

 

    OO-3

     

    

 

EXHIBIT
PP

FORM OF ASSET REVIEW REPORT SUMMARY1

 

To:
[Addresses of Recipients]

 

		Re:	BBCMS
                                         Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3 	 

 

Ladies
and Gentlemen:

 

In
accordance with Section 12.01 of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and
Servicing Agreement”), the undersigned, as asset representations reviewer (the “Asset Representations Reviewer”),
has performed an Asset Review on each Delinquent Loan identified in accordance with the terms of the Pooling and Servicing Agreement,
and is hereby issuing the following Asset Review Report Summary.

 

1.                 
As described in the summary scorecard attached hereto as Exhibit A, we have performed an Asset Review on each Delinquent Loan
identified in accordance with the terms of the Pooling and Servicing Agreement and our conclusion is that there is [no evidence
of a Test failure/evidence of [•] Test failures] with respect to the Delinquent Loans.

 

2.                 
A conclusion by the Asset Representations Reviewer of a Test pass or a Test failure shall not constitute a determination by the
Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or (ii) whether the Trust should enforce
any rights it may have against the applicable Mortgage Loan Seller. In addition, the Tests may not be sufficient to determine
every instance of noncompliance.

 

3.                 
The Asset Representations Reviewer, other than forwarding this Asset Review Report Summary to the parties listed above, will not
be required to take or participate in any other or further action with respect to the aforementioned Asset Review Report Summary.

 

4.                 
Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

 

 

1       This
report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter the organization
and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including without limitation,
provisions relating to Privileged Information.

 

    PP-1

     

    

 

	 	PENTALPHA SURVEILLANCE LLC, 

as Asset
    Representations Reviewer
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    PP-2

     

    

 

Exhibit
A

Summary Scorecard

 

[Template
Example Below]

 

	Test
    failures
	Loan
    #	Loan
    Name	Mortgage
    Loan Seller	Representations
    and Warranty #	Representation
    and Warranty Name
	[Insert
    Loan #]	[Insert
    Loan Name]	[Insert
    Mortgage Loan Seller]	22	Compliance
    with Usury Laws
	32	Single
    Purpose Entity

 

    PP-3

     

    

 

EXHIBIT
QQ

ASSET REVIEW PROCEDURES

 

Pursuant
to the terms and subject to the conditions set forth in the Pooling and Servicing Agreement (the “PSA”), the
Asset Representations Reviewer (“Asset Representations Reviewer”) shall perform an Asset Review with respect
to each representation and warranty made by the related Mortgage Loan Seller only with respect to each Delinquent Loan in accordance
with the procedures set forth below (each such procedure, a “Test”); provided, however, the Asset Representations
Reviewer may, but is under no obligation to, modify any Test and/or associated Review Materials described in this Exhibit QQ
if, and only to the extent, the Asset Representations Reviewer determines pursuant to the Asset Review Standard that it is
necessary to modify such Test and/or such associated Review Materials in order to facilitate its Asset Review in accordance with
the Asset Review Standard. Capitalized terms used herein but not defined herein have the meaning set forth in the PSA or, solely
with respect to a representation and warranty, the meaning set forth in the related mortgage loan purchase agreement (the “Mortgage
Loan Purchase Agreement”). For the avoidance of doubt, in connection with the performance of the following Tests:

 

(A)        
     With respect to any representation and warranty that includes a knowledge qualifier (e.g., to
the Mortgage Loan Seller’s knowledge, etc.), the Asset Representations Reviewer shall not be responsible for any
investigation or review beyond that set forth in the applicable Test related to such representation and warranty;

 

(B)          
    With respect to any representation and warranty that includes the examination of an insurance policy or
Title Policy, the Asset Representations Reviewer will be permitted to engage a qualified consultant to perform a review of
the applicable policy, and will be allowed to rely upon the conclusions of the consultant when making a determination as to
whether there is a Test pass.

 

(C)        
      The Asset Representations Reviewer shall be under no duty to provide or obtain a legal
opinion, legal review or legal conclusion;

 

(D)      
        Unless otherwise provided in the Test, the “as of” date for the testing of
a representation is as of the Closing Date;

 

(E)       
       Unless otherwise provided in the Test, if there is more than one version of the same
document with respect to a particular Mortgage Loan or Mortgaged Property, the document that will be used by the Asset
Representations Reviewer in testing is the document that is dated as of the Closing Date or, if none, the document closest
prior to the Closing Date;

 

(F)       
        With respect to each representation and warranty and its related Test(s), the
Asset Representations Reviewer shall take into account any exceptions to such representation and warranty described in the
Mortgage Loan Purchase Agreement with respect to a Mortgage Loan, and a Test pass shall be deemed to have occurred with
respect to such Test if the sole reason for not satisfying the applicable Test is caused by such exception(s);

 

    QQ-1

     

    

 

(G)        
     Evidence of a failure of a Test could result from (i) an affirmative determination by the Asset
Representations Reviewer that the Test failed to achieve a Test pass, or (ii) a determination by Asset Representations
Reviewer that the documentation included in the Review Materials (after making such request for any missing documents in the
manner provided for in the PSA) is not sufficient to perform the Test; and

 

(H)          
   A determination by the Asset Representations Reviewer of a Test pass or a Test failure shall not constitute a
determination by the Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or (ii)
whether the Trust should enforce any rights it may have against the applicable Mortgage Loan Seller.

 

The
Asset Representations Reviewer will only be required to perform the Tests described in this Exhibit QQ, and will not be
obligated to perform additional procedures on any Delinquent Loan, even if a different set of procedures or review Materials could
produce a different outcome. Notwithstanding the required Tests, the Asset Representations Reviewer will not be required to review
any information other than (1) Review Materials specified in the related Test and (2) if applicable, Unsolicited Information.
The Asset Representations Reviewer may, but is under no obligation to, consider Unsolicited Information relevant to the Tests
subject to the terms of the PSA. If the Asset Representations Reviewer considers Unsolicited Information, the Asset Representations
Reviewer shall take into account such Unsolicited Information, in addition to the Review Materials referred to in the applicable
Test(s) procedure when making a determination as to whether there is a Test pass.

 

    QQ-2

     

    

 

	Representations and Warranties	Test	Review Materials
	1. Whole Loan; Ownership of Mortgage Loans. Except with respect to a Mortgage Loan that is part of a Whole Loan, each Mortgage Loan is a whole loan and not a participation interest in a mortgage loan.  At the time of the sale, transfer and assignment to the depositor, no Mortgage Note or Mortgage was subject to any assignment (other than assignments to the Mortgage Loan Seller or (with respect to any Non-Serviced Mortgage Loan) to the related Non-Serviced Trustee for the related non-serviced securitization trust), participation (it being understood that a Mortgage Loan that is part of a Whole Loan does not constitute a participation) or pledge, and the Mortgage Loan Seller had good title to, and was the sole owner of, each Mortgage Loan free and clear of any and all liens, charges, pledges, encumbrances, participations (other than with respect to agreements among noteholders with respect to a Whole Loan), any other ownership interests and other interests on, in or to such Mortgage Loan other than any servicing rights appointment, subservicing or similar agreement.  The Mortgage Loan Seller has full right and authority to sell, assign and transfer each Mortgage Loan, and the assignment to the depositor constitutes a legal, valid and binding assignment of such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering such Mortgage Loan.	1a	Review the amounts listed on the original Mortgage Note and Mortgage for an indication that they match the amounts listed on the Mortgage Loan Schedule.  If the amounts are the same, then such Mortgage Loan would be considered a Whole Loan. If there is more than one property then the Mortgage for each Mortgaged Property would need to be aggregated. If identified as such, it will be a Test pass.	Mortgage; Mortgage Note; Loan agreement related to the Mortgage Loan (“Loan Agreement”); Mortgage Loan guaranty; Assignment of Leases; and Environmental Indemnity Agreement (collectively, the “Mortgage Loan Documents”); Mortgage Loan Schedule.
	1b	Review any notice previously delivered by the master servicer or the special servicer, as applicable, of any alleged defect or breach with respect to any Delinquent Loan (collectively, the “MS Servicer Notices”) for notation of any Mortgage Note or Mortgage that was subject to any assignment (other than assignments to the Mortgage Loan Seller or, with respect to any Non-Serviced Mortgage Loan, to the related Non-Serviced Trustee for the non-serviced securitization trust), participation or pledge, or that the Mortgage Loan Seller did not have good title to, and was the sole owner of, each Mortgage Loan free and clear of any and all liens, charges, pledges, encumbrances, participations, any other ownership interests on, in or to such Mortgage Loan other than any servicing rights appointment or similar agreement. If no such notation is found, it will be a Test pass.	MS Servicer Notices
	1c	Review the MS Servicer Notices for notation of any claim or assertion regarding the Mortgage Loan Seller not having the full right and authority to sell, assign and transfer the Mortgage Loan. If such notation is not found, it will be a Test pass.	MS Servicer Notices
	1d	Review the MS Servicer Notices for notation of any claim or assertion regarding the assignment to the Depositor not constituting a legal, valid and binding assignment of such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering such Mortgage Loan. If such notation is not found, it will be a Test pass.	MS Servicer Notices
	2. Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other	2a	Review the opinion of Mortgagor’s counsel (“Mortgagor’s Counsel Opinion”) for an indication that it contains language that the related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, 	Mortgagor’s Counsel Opinion

 

    QQ-3

     

    

 

	Representations and Warranties	Test	Review Materials
	
        obligor (subject to any non-recourse provisions contained in
        any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable,
        and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent
        transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii)
        general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law and except
        that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default
        interest, late fees or prepayment premium/yield maintenance charge) may be further limited or rendered unenforceable by applicable
        law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents
        invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided
        thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”).

        

        Except as set forth in the immediately preceding sentence, there
        is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the
        related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense,
        counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan,
        that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan
        documents.

        
	 	guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti- deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as specified in representation and warranty 2. If such indication exists, it will be a Test pass.	 
	2b	Review the MS Servicer Notices for notation of any valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee (as defined in the related Mortgage Loan Purchase Agreement) the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan Documents. If no such notation is found, it will be a Test pass.

                                                                                 
	MS Servicer Notices
	3. Mortgage Provisions. The Mortgage Loan documents for each Mortgage Loan, together with applicable state law, contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure subject to the limitations set forth in the Standard Qualifications.	3	Review the Mortgage Loan Documents and Mortgagor’s Counsel Opinion for an indication that the Mortgage Loan Documents contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure subject to the limitations set forth in the Standard Qualifications. If such indication exists, it will be a Test pass.	Mortgage Loan Documents; Mortgagor’s Counsel Opinion
	4. Hospitality Provisions.  The Mortgage Loan documents for each Mortgage Loan that is secured by a hospitality property operated pursuant to a franchise agreement includes an executed comfort letter or similar agreement signed by the Mortgagor and franchisor of such property enforceable by the issuing entity against such franchisor, either directly or as an assignee of the originator. The Mortgage or related security agreement for each Mortgage Loan secured by a hospitality property 	4a	Review the appraisals to determine if any of the properties are specifically identified as hospitality properties.  If so, review the Mortgage File to determine if there exists a franchise agreement and executed comfort letter or other similar agreement signed by the Mortgagor and franchisor that is enforceable by the issuing entity against such franchisor, either directly or as an assignee of the originator.  If so	Appraisal; franchise agreement; Comfort letter or similar agreement signed by or from such franchisor

 

    QQ-4

     

    

 

	Representations and Warranties	Test	Review Materials
	creates a security interest in the revenues of such property for which a UCC financing statement has been filed in the appropriate filing office.	 	
        determined with respect to each part of the Test, it will be
        a Test pass.

         
	 
	4b	If the appraisals specifically identify any Mortgaged Properties as hospitality properties, review the security agreement for each Mortgaged Property to determine if there are provisions related to creating a security interest in the revenues of such property.  Also, review the Mortgage File to determine if there exist filed copies (bearing evidence of filing) or evidence of filing of any related UCC financing statements, related amendments and continuation statements.  If so determined with respect to each part of this Test, it will be a Test pass.	UCC filing; Appraisal; Mortgage File
	5. Mortgage Status; Waivers and Modifications. Since origination and except by written instruments set forth in the related Mortgage File or as otherwise provided in the related Mortgage Loan documents (a) the material terms of such Mortgage, Mortgage Note, Mortgage Loan guaranty and related Mortgage Loan documents have not been waived, impaired, modified, altered, satisfied, canceled, subordinated or rescinded in any respect which materially interferes with the security intended to be provided by such mortgage; (b) no related Mortgaged Property or any portion thereof has been released from the lien of the related Mortgage in any manner which materially interferes with the security intended to be provided by such Mortgage or the use or operation of the remaining portion of such Mortgaged Property; and (c) neither the Mortgagor nor the guarantor has been released from its material obligations under the Mortgage Loan.  With respect to each Mortgage Loan, except as contained in a written document included in the Mortgage File, there have been no modifications, amendments or waivers, that could be reasonably expected to have a material adverse effect on such Mortgage Loan consented to by the Mortgage Loan Seller on or after the Cut-off Date.	5a	Review the MS Servicer Notices and Mortgage Loan Documents for an indication that the material terms of such documents have been waived, impaired, modified, altered, satisfied, cancelled, subordinated or rescinded in any respect which materially interferes with the security intended to be provided by such mortgage, except by written instruments set forth in the related Mortgage File.  If no such indication is found, it will be a Test pass.	Mortgage Loan Documents; MS Servicer Notices
	5b	Review the MS Servicer Notices and Mortgage Loan Documents for an indication that a related Mortgaged Property or any portion thereof has been released from the lien of the related Mortgage in any manner which materially interferes with the security intended to be provided by such Mortgage or the use or operation of the remaining portion of such Mortgaged Property except by written instruments set forth in the related Mortgage File. If no such indication is found, it will be a Test pass.	MS Servicer Notices; Mortgage Loan Documents
	5c	Review the MS Servicer Notices and Mortgage Loan Documents for notation that neither Mortgagor nor guarantor has been released from its material obligations under the Mortgage Loan except by written instruments set forth in the related Mortgage File. If no such notation is found, it will be a Test pass.	MS Servicer Notices; Mortgage Loan Documents
	5d	Review the MS Servicer Notices and Mortgage Loan Documents for notation of a modification, amendment or waiver that could be reasonably expected to have a material adverse effect on such Mortgage Loan that was consented to 	MS Servicer Notices; Mortgage Loan Documents

 

    QQ-5

     

    

 

	Representations and Warranties	Test	Review Materials
	 	 	by the Mortgage Loan Seller on or after the Cut-off Date. If no such notation is found, it will be a Test pass.	 
	6. Lien; Valid Assignment. Subject to the Standard Qualifications, each endorsement or assignment of Mortgage and assignment of Assignment of Leases from the Mortgage Loan Seller or its affiliate is in recordable form (but for the insertion of the name of the assignee and any related recording information which is not yet available to the Mortgage Loan Seller) and constitutes a legal, valid and binding endorsement or assignment from the Mortgage Loan Seller, or its affiliate, as applicable.  Each related Mortgage and Assignment of Leases is freely assignable without the consent of the related Mortgagor.  Each related Mortgage is a legal, valid and enforceable first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule, leasehold) interest in the Mortgaged Property in the principal amount of such Mortgage Loan or allocated loan amount (subject only to Permitted Encumbrances (as defined below) and the exceptions to representation and warranty 7 below (each such exception, a “Title Exception”)), except as the enforcement thereof may be limited by the Standard Qualifications.  Such Mortgaged Property (subject to Permitted Encumbrances and Title Exceptions) as of origination and, to the Mortgage Loan Seller’s knowledge, as of the Cut-off Date, is free and clear of any recorded mechanics’ or materialmen’s liens and other recorded encumbrances that would be prior to or equal with the lien of the related Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan), except those which are bonded over, escrowed for or insured against by the applicable Title Policy (as described below), and as of origination and, to the Mortgage Loan Seller’s knowledge, as of the Cut-off Date, no rights exist which under law could give rise to any such lien or encumbrance that would be prior to or equal with the lien of the related Mortgage, except those which are bonded over, escrowed for or insured against by the applicable Title Policy.  Notwithstanding anything herein to the contrary, no representation is made as to the perfection of any security interest in rents or other personal property to the extent that possession or control of such items or actions other than the filing of Uniform Commercial Code financing statements is required to effect such perfection.	6a	Review the MS Servicer Notices for a notation or other indication of any claim or assertion regarding any endorsement or assignment of Mortgage or Assignment of Leases not constituting a legal, valid and binding endorsement or assignment from the Mortgage Loan Seller, or its Affiliate, as applicable, subject to the Insolvency Qualifications. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	6b	Review the related Mortgage and the Assignment of Leases for each property for provisions to the effect that the related Mortgage and Assignment of Leases is not freely assignable without the consent of the related Mortgagor. If no such provision is found, it will be a Test pass.	Mortgage; Assignment of Leases
	6c	Review the Title Policy (as defined in representation and warranty 7) to determine if the related Mortgage is a first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule, leasehold) interest in the Mortgaged Property.  Compare the amount of the Title Policy to the principal amount of the Mortgage Loan or allocated loan amount to determine whether they are equivalent. If each such determination is made, it will be a Test pass.	Title Policy; Mortgage; Mortgage Loan Schedule
	6d	Review the Title Policy to determine if the Mortgaged Property was free and clear of any recorded mechanics’ or materialmen’s liens and other recorded encumbrances that would be prior to or equal with the lien of the related Mortgage (other than Permitted Encumbrances, Title Exceptions and those which are bonded over, escrowed for or insured against by the applicable Title Policy). If so determined, it will be a Test pass.	Title Policy
	6e	Review the MS Servicer Notices for a notation or other indication of any claim or assertion that, as of the Cut-off Date, the Mortgage Loan Seller had knowledge that the Mortgaged Property was not free and clear of any recorded mechanics’ or materialmen’s liens and other recorded encumbrances that would be prior to or equal with the lien of the related Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan) (other than Permitted Encumbrances, Title Exceptions and those which are bonded over, escrowed for or insured 	MS Servicer Notices

 

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	Representations and Warranties	Test	Review Materials
	 	 	against by the applicable Title Policy). If such a notation or other indication is not found, it will be a Test pass.	 
	6f	Review the MS Servicer Notices for a notation or other indication of any claim or assertion that, subject to the rights of tenants, there are rights existing which under law could give rise to any such lien or encumbrance that would be prior to or equal with the lien of the related Mortgage, except for Permitted Encumbrances and those which are bonded over, escrowed for or insured against by the applicable Title Policy. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	6g	Review the MS Servicer Notices for a notation or other indication of any claim or assertion that the Mortgage Loan Seller did not have legal, valid and enforceable first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule, leasehold), interest in the Mortgaged Property or good and marketable title free and clear of any pledge, lien, encumbrance or security interest. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	7. Permitted Liens; Title Insurance. Each Mortgaged Property securing a Mortgage Loan is covered by an American Land Title Association loan title insurance policy or a comparable form of loan title insurance policy approved for use in the applicable jurisdiction (or, if such policy is yet to be issued, by a pro forma policy, a preliminary title policy or a “marked up” commitment, in each case with escrow instructions and binding on the title insurer) (the “Title Policy”) in the original principal amount of such Mortgage Loan (or with respect to a Mortgage Loan secured by multiple properties, an amount equal to at least the allocated loan amount with respect to the Title Policy for each such property) after all advances of principal (including any advances held in escrow or reserves), that insures for the benefit of the owner of the indebtedness secured by the Mortgage, the first priority lien of the Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan), which lien is subject only to (a) the lien of current real property taxes, water charges, sewer rents and assessments not yet due and payable; (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record specifically identified in the Title Policy; (c) the exceptions (general and specific) and exclusions set forth in such Title Policy; (d) other matters to which like properties are commonly subject; (e) the rights of tenants (as tenants only) under leases (including subleases) pertaining to the related Mortgaged Property; (f) if the related Mortgage Loan constitutes a cross collateralized Mortgage 	7a	Review the Title Policy to determine if it is an American Land Title Association loan title insurance policy or another comparable form of loan title insurance policy approved for use in the applicable jurisdiction. Review the Mortgage Loan Documents to determine if the amount of the policy covers the amount of the Mortgage Loan, or for multiple properties, an amount equal to the allocated loan amount after all advances of principal. If so determined with respect to each part of this Test, it will be a Test pass.	Title Policy; Mortgage Loan Documents
	7b	Review the Title Policy to determine if the first-priority lien of the Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan) is subject only to Permitted Encumbrances, as defined in representation and warranty 7. If so determined, it will be a Test pass.	Title Policy
	7c	Review the Title Policy to determine if any Permitted Encumbrance is a mortgage lien that is senior to or coordinate and co-equal to the lien of the related Mortgage, other than as contemplated by item (f) in the definition of Permitted Encumbrances.  If not so determined, it will be a Test pass.	Title Policy
	7d	Review the Title Policy and MS Servicer Notices for a notation or other indication that the coverage is not in full force and effect, that all premiums thereon have not been paid 	Title Policy; MS Servicer Notices

 

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	Loan, the lien of the Mortgage for another Mortgage Loan contained in the same cross collateralized group of Mortgage Loans, and (g) condominium declarations of record and identified in such Title Policy, provided that none of clauses (a) through (g), individually or in the aggregate, materially and adversely interferes with the value or principal use of the Mortgaged Property, the security intended to be provided by such Mortgage, or the current ability of the related Mortgaged Property to generate net cash flow sufficient to service the related Mortgage Loan or the Mortgagor’s ability to pay its obligations when they become due (collectively, the “Permitted Encumbrances”).  For purposes of clause (a) of the immediately preceding sentence, any such taxes, assessments and other charges shall not be considered due and payable until the date on which interest and/or penalties would be payable thereon.  Except as contemplated by clause (f) of the second preceding sentence none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage.  Such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no claims have been made by the Mortgage Loan Seller thereunder and no claims have been paid thereunder.  Neither the Mortgage Loan Seller, nor to the Mortgage Loan Seller’s knowledge, any other holder of the Mortgage Loan, has done, by act or omission, anything that would materially impair the coverage under such Title Policy.  Each Title Policy contains no exclusion for, or affirmatively insures (except for any Mortgaged Property located in a jurisdiction where such affirmative insurance is not available in which case such exclusion may exist), that the Mortgaged Property shown on the survey is the same as the property legally described in the Mortgage.	 	or that claims have been made by the Mortgage Loan Seller. If no such notation or other indication is found, it will be a Test pass.	 
	7e	Review the MS Servicer Notices for a notation or other indication that the Mortgage Loan Seller, or any other holder of the Mortgage Loan, has done, by act or omission, anything that would materially impair the coverage under such policy. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	7f	Review the Title Policy to determine if the Title Policy contains no exclusion for, or affirmatively insures (except for any Mortgaged Property located in a jurisdiction where such affirmative insurance is not available in which case such exclusion may exist), that the Mortgaged Property shown on the survey is the same as the property legally described in the Mortgage. If so determined, it will be a Test pass.	Title Policy
	 	 
	 	 
	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	8. Junior Liens. It being understood that B notes secured by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, except for any Mortgage Loan that is cross collateralized and cross-defaulted with another Mortgage Loan, as of the Cut-off Date there are no subordinate mortgages or junior mortgage liens encumbering the related Mortgaged Property other than Permitted Encumbrances, mechanics’ or materialmen’s liens (which are the subject of representation and warranty 6 above), and equipment and other personal property financing.  The Mortgage Loan Seller has no knowledge of any mezzanine debt secured directly by interests in the related Mortgagor other than as set forth on Exhibit C-32-1 to the applicable Mortgage Loan Purchase Agreement. 	8a	Review the Title Policy to determine if there is any subordinate mortgage or junior lien encumbering the related Mortgaged Property, except for any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan. If not so determined, it will be a Test pass.	Title Policy
	8b	Review the Title Policy to determine if, as of the Cut-off Date, there are no subordinate mortgages or junior mortgage liens encumbering the related Mortgaged Property other than Permitted Encumbrances, mechanics’ or materialmen’s liens and equipment and other personal property financing. If so determined, it will be a Test pass.	Title Policy
	8c	Review the MS Servicer Notices for a notation or other indication that the Mortgage Loan Seller had knowledge of any mezzanine debt secured directly by interests in the related 	MS Servicer Notices

 

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	 	 	Mortgagor other than those set forth on Exhibit C-32-1 to the applicable Mortgage Loan Purchase Agreement. If such a notation or other indication is not found, it will be a Test pass.	 
	9. Assignment of Leases and Rents. There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage).  Subject to the Permitted Encumbrances and Title Exceptions (and, in the case of a Mortgage Loan that is part of a Whole Loan, subject to the related Assignment of Leases constituting security for the entire Whole Loan), each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications.  The related Mortgage or related Assignment of Leases, subject to applicable law and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver may be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.	9a	Review the Mortgage File to determine if an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage) is in the Mortgage File. If so determined, it will be a Test pass.	Mortgage File; Assignment of Leases
	9b	Review the Title Policy to determine if the Mortgage, or any related Assignment of Leases, has been recorded, and creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. If so determined with respect to each part of this Test, it will be a Test pass.	Title Policy; Mortgage; Assignment of Leases
	9c	Review the Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage) to determine if the related Mortgage, or related Assignment of Leases, subject to applicable law and the Standard Qualifications, provides that upon an event of default under the Mortgage Loan, a receiver may be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee. If so determined, it will be a Test pass.	Assignment of Leases; Mortgage
	10. Financing Statements. Subject to the Standard Qualifications, each Mortgage Loan or related security agreement establishes a valid security interest in, and a UCC-1 financing statement has been filed and/or recorded (or, in the case of fixtures, the Mortgage constitutes a fixture filing) in all places necessary at the time of the origination of the Mortgage Loan (or, if not filed and/or recorded, has submitted or caused to be submitted in proper form for filing and/or recording) to perfect a valid security interest in, the personal property (creation and perfection of which is governed by the UCC) owned by the Mortgagor and necessary to operate such Mortgaged Property in its current use other than (1) non-material personal property, (2) personal property subject to purchase money security interests and (3) personal property that is leased equipment.  Each UCC-1 financing statement, if any, filed with respect to 	10a	Review the MS Servicer Notices for a notation or other indication of inappropriately filed or nonexistent UCC-1 financing statements. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	10b	Review the MS Servicer Notices for notation or other indication that the UCC-1, UCC-2 and UCC-3 statements were not in suitable form for filing. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	 	 	 
	 	 	 

 

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	personal property constituting a part of the related Mortgaged Property and each UCC-3 assignment, if any, filed with respect to such financing statement was in suitable form for filing in the filing office in which such financing statement was filed.  Notwithstanding anything herein to the contrary, no representation is made as to the perfection of any security interest in rents or other personal property to the extent that possession or control of such items or actions other than the filing of Uniform Commercial Code financing statements is required to effect such perfection.	 	 	 
	
        11. Condition of Property. The Mortgage Loan Seller or
        the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six months of origination
        of the Mortgage Loan and within twelve months of the Cut-off Date.

        An engineering report or property condition assessment was prepared
        in connection with the origination of each Mortgage Loan no more than twelve months prior to the Cut-off Date. To the Mortgage
        Loan Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable
        mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage (other than (i)
        deferred maintenance for which escrows were established at origination and (ii) any damage fully covered by insurance) that would
        affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.

         
	11a	Review the engineering report or property condition assessment in the Mortgage File to determine if it is dated within six months of the origination date, and within twelve months of the Cut-off Date. If so determined, it will be a Test pass.	Engineering report; Property condition assessment
	11b	Review the engineering report or property condition assessment in the Mortgage File to determine if it was dated no more than twelve months prior to the Cut-off Date.  Review the engineering report to confirm that each related Mortgaged Property is free of material damage. If so determined with respect to each part of the Test, it will be a Test pass.	Engineering report; Property condition assessment
	11c	Review the MS Servicer Notices for a notation or other indication that the Mortgage Loan Seller had knowledge of issues with the physical condition of the Mortgaged Property that the Mortgage Loan Seller believed would have a material adverse effect on the value or use of the Mortgaged Property other than those disclosed in the most recently dated engineering report or Servicing File and those addressed in sub-clauses (i) and (ii) of representation and warranty 11. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	12. Taxes and Assessments. As of the date of origination and, to the Mortgage Loan Seller’s knowledge, as of the Cut-off Date, all taxes, governmental assessments and other outstanding governmental charges (including, without limitation, water and sewage charges) due with respect to the Mortgaged Property (excluding any related personal property) securing a Mortgage Loan that is or could become a lien on the related Mortgaged Property that became due and owing prior to the Cut-off Date with respect to each related Mortgaged Property have been paid, or, if the appropriate amount of such taxes or charges is being appealed or is otherwise in dispute, the unpaid taxes or charges are covered by an escrow of funds or other security sufficient to pay such tax or charge and 	12	Review the MS Servicer Notices for a notation or other indication that all taxes, governmental assessments and other outstanding governmental charges  (including, without limitation, water and sewage charges) due with respect to the Mortgaged Property (excluding any related personal property) securing a Mortgage Loan that is or could become a lien on the related Mortgage Property that became due and owing prior to the Cut-off Date with respect to the Mortgaged Property have not been paid, or if the appropriate amount of such taxes or charges is being appealed or is otherwise in dispute, the unpaid taxes or charges were not covered by an 	MS Servicer Notices

 

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	reasonably estimated interest and penalties, if any, thereon.  For purposes of this representation and warranty, any such taxes, assessments and other charges shall not be considered due and payable until the date on which interest and/or penalties would be payable thereon.	 	escrow of funds or other security sufficient to pay such tax or charge and reasonably estimated interest and penalties, if any, thereon. If such a notation or other indication is not found, it will be a Test pass.	 
	13. Condemnation. As of the date of origination and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, there is no proceeding pending and, to the Mortgage Loan Seller’s knowledge as of the date of origination and as of the Cut-off Date, there is no proceeding threatened for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the value, use or operation of the Mortgaged Property.	13	Review the MS Servicer Notices for a notation or other indication of any proceeding pending or threatened for the total or partial condemnation of such Mortgaged Property as of the Cut-off date, or for a notation or other indication that the Mortgage Loan Seller had knowledge as of the Cut-off of any such proceeding that would have a material adverse effect on the value, use or operation of the Mortgaged Property. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	14. Actions Concerning Mortgage Loan. To the Mortgage Loan Seller’s knowledge, based on evaluation of the Title Policy (as defined in representation and warranty 7), an engineering report or property condition assessment as described in representation and warranty 11, applicable local law compliance materials as described in representation and warranty 25, and the ESA (as defined in representation and warranty 41), as of origination there was no pending or filed action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor, guarantor, or Mortgagor’s interest in the Mortgaged Property, an adverse outcome of which would reasonably be expected to materially and adversely affect (a) such Mortgagor’s title to the Mortgaged Property, (b) the validity or enforceability of the Mortgage, (c) such Mortgagor’s ability to perform under the related Mortgage Loan, (d) such guarantor’s ability to perform under the related guaranty, (e) the principal benefit of the security intended to be provided by the Mortgage Loan documents, (f) the current ability of the Mortgaged Property to generate net cash flow sufficient to service such Mortgage Loan, or (g) the current principal use of the Mortgaged Property.	14a	Review the Mortgage Loan Documents, the Mortgagor’s Counsel Opinion and the MS Servicer Notices for an indication of pending or filed action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor, guarantor, or Mortgagor’s interest in the Mortgaged Property that existed on the origination date. If such an indication is not found, it will be a Test pass.	Mortgage Loan Documents; Mortgagor’s Counsel Opinion; MS Servicer Notices
	14b	Review the MS Servicer Notices to determine if an adverse outcome of any such pending, filed or threatened action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor, guarantor, or Mortgaged Property would reasonably be expected to adversely affect the matters set forth in clauses (a)-(g) of representation and warranty 14. If any such adverse outcome would not reasonably be expected to adversely affect the matters set forth in clauses (a)-(g) of representation and warranty 14, it will be a Test pass.	MS Servicer Notices
	15. Escrow Deposits. All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced 	15a	Review the MS Servicer Notices for a notation or other indication of any escrow deposits and escrow payments required to be escrowed with the Mortgagee pursuant to each Mortgage Loan not in the servicer’s possession or control. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	15b	Review the Diligence File and the MS Servicer Notices to determine if all escrows and deposits required pursuant to the Mortgage Loan have been conveyed by the Mortgage Loan Seller to the depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the 	Diligence File; MS Servicer Notices

 

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	PSA or Non-Serviced Master Servicer for the related non-serviced securitization trust).	 	Non-Serviced PSA or Non-Serviced Master Servicer for the related non-serviced securitization trust). If so determined, it will be a Test pass.	 
	16. No Holdbacks. The principal amount of the Mortgage Loan stated on the Mortgage Loan Schedule has been fully disbursed as of the Closing Date and there is no requirement for future advances thereunder (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs, occupancy, performance or other matters with respect to the related Mortgaged Property, the Mortgagor or other considerations determined by the Mortgage Loan Seller to merit such holdback).	16a	Review the Mortgage Loan Schedule, Loan Agreement, Mortgage Note and origination settlement statement to determine if the principal amount of the Mortgage Loan was fully disbursed as of the Closing Date. If so determined, it will be a Test pass.	Mortgage Loan Schedule; Loan Agreement; Mortgage Note; and Origination settlement statement
	16b	Review the Mortgage Loan Documents to determine if there is no requirement for future advances by the Mortgagee (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs, occupancy, performance or other matters with respect to the related Mortgaged Property, the Mortgagor or other considerations determined by the Mortgage Loan Seller to merit such holdback). If so determined, it will be a Test pass.	Mortgage Loan Documents
	
        17. Insurance. Each related Mortgaged Property is, and
        is required pursuant to the related Mortgage to be, insured by a property insurance policy providing coverage for loss in accordance
        with coverage found under a “special cause of loss form” or “all risk form” that includes replacement cost
        valuation issued by an insurer meeting the requirements of the related Mortgage Loan documents and having a claims-paying or financial
        strength rating meeting the Insurance Rating Requirements (as defined below), in an amount (subject to customary deductibles) not
        less than the lesser of (1) the original principal balance of the Mortgage Loan and (2) the full insurable value on a replacement
        cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the Mortgagor included in the Mortgaged
        Property (with no deduction for physical depreciation), but, in any event, not less than the amount necessary or containing such
        endorsements as are necessary to avoid the operation of any coinsurance provisions with respect to the related Mortgaged Property.

         

        “Insurance Ratings Requirements” means either (1)
        a claims paying or financial strength rating of at least “A-:VIII” from A.M. Best Company or “A3” (or the
        equivalent) from Moody’s Investors Service, Inc. or “A-” from S&P Global Ratings or (2) the Syndicate Insurance
        Ratings Requirements. “Syndicate Insurance Ratings Requirements” means insurance provided by a syndicate of insurers,
        as to which (i) if such

         
	17a	Review the Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if it shows that the related Mortgaged Property is insured by a property insurance policy providing coverage for loss in accordance with coverage found under a “special cause of loss form” or “all-risk form” that includes replacement cost valuation issued by an insurer meeting the requirements of the related Mortgage Loan Documents and the Insurance Rating Requirements, in an amount (subject to customary deductibles) not less than the lesser of (1) the original principal balance of any Mortgage Loan and (2) the full insurable value on a replacement cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the mortgagor and included in the Mortgaged Property (with no deduction for physical depreciation), but, in any event, not less than the amount necessary or containing such endorsements as are necessary to avoid the operation of any coinsurance provisions with respect to the Mortgaged Property. If so determined, it will be a Test pass.	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)
	17b	Review the Mortgage Loan Documents for provisions requiring the insurance coverage as stated in Test 17a above. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents

 

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        syndicate consists of 5 or more members, at least 60% of the
        coverage is provided by insurers that meet the Insurance Ratings Requirements (under clause (1) of the definition of such term)
        and up to 40% of the coverage is provided by insurers that have a claims paying or financial strength rating of at least “BBB-”
        by S&P Global Ratings, and (ii) if such syndicate consists of 4 or fewer members, at least 75% of the coverage is provided
        by insurers that meet the Insurance Ratings Requirements (under clause (1) of the definition of such term) and up to 25% of the
        coverage is provided by insurers that have a claims paying or financial strength rating of at least “BBB-” by S&P
        Global Ratings.

         

        Each related Mortgaged Property is also covered, and required
        to be covered pursuant to the related Mortgage Loan documents, by business interruption or rental loss insurance which (subject
        to a customary deductible) covers a period of not less than 12 months (or with respect to each Mortgage Loan on a single asset
        with a principal balance of $50 million or more, 18 months).

         

        If any material part of the improvements, exclusive of a parking
        lot, located on a Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency
        as having special flood hazards, the related Mortgagor is required to maintain insurance in an amount equal to the maximum amount
        available under the National Flood Insurance Program, plus such additional excess flood coverage in an amount as is generally required
        by prudent institutional commercial mortgage lenders originating mortgage loans for securitization.

         

        If the Mortgaged Property is located within 25 miles of the
        coast of the Gulf of Mexico or the Atlantic coast of Florida, Georgia, South Carolina or North Carolina, the related Mortgagor
        is required to maintain coverage for windstorm and/or windstorm related perils and/or “named storms” issued by an insurer
        meeting the Insurance Rating Requirements or endorsement covering damage from windstorm and/or windstorm related perils and/or
        named storms, in an amount not less than the lesser of (1) the original principal balance of the Mortgage Loan and (2) the full
        insurable value on a replacement cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the Mortgagor
        and included in the Mortgaged Property (with no deduction for physical depreciation), but, in any event, not less than the amount
        necessary or containing such endorsements as are necessary to avoid the operation of

         
	17c	Review the Insurance Summary Report (or, solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if it shows that the related Mortgaged Property is insured for business interruption or rental loss insurance which (subject to a customary deductible) covers a period of not less than 12 months (or with respect to a Mortgage Loan on a single asset with a principal balance of $50 million or more, 18 months). If such provisions are found, it will be a Test pass.	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)
	17d	Review the Mortgage Loan Documents for provisions requiring the insurance coverage as stated in Test 17c above. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	17e	Review the Mortgage Loan Documents and/or the survey to determine if any material part of the improvements, exclusive of a parking lot, located on the Mortgaged Property is in an area identified in the Federal Register by the Federal Emergency Management Agency as having “special flood hazards.” If so determined, review the Insurance Summary to determine whether the Mortgagor maintains insurance in an amount equal to the maximum amount available under the National Flood Insurance Program, plus such additional excess flood coverage in an amount as is generally required by prudent institutional commercial mortgage lenders originating mortgage loans for securitization. If so determined, it will be a Test pass.	Insurance Summary Report
	17f	If the Mortgaged Property is located within 25 miles of the coast of the Gulf of Mexico or the Atlantic coast of Florida, Georgia, South Carolina or North Carolina, review the Insurance Summary Report to determine if the property is covered for windstorm and/or windstorm related perils and/or “named storms” by an insurer meeting the Insurance Rating Requirements or endorsement covering damage from windstorm and/or windstorm related perils and/or named storms, in an not less than the lesser of (1) the original principal balance of the Mortgage Loan and (2) the full insurable value on a replacement cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the Mortgagor and included in the Mortgaged Property (with no deduction for physical depreciation), but, in any event, not less than the amount necessary or containing such endorsements as are necessary to avoid the operation of 	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance); Diligence File

 

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        any coinsurance provisions with respect to the related Mortgaged
        Property by an insurer meeting the Insurance Rating Requirements.

        

        The Mortgaged Property is covered, and required to be covered
        pursuant to the related Mortgage Loan documents, by a commercial general liability insurance policy issued by an insurer meeting
        the Insurance Rating Requirements including coverage for property damage, contractual damage and personal injury (including bodily
        injury and death) in amounts as are generally required by the Mortgage Loan Seller for similar commercial and multifamily loans
        intended for securitization, and in any event not less than $1 million per occurrence and $2 million in the aggregate.

         

        An architectural or engineering consultant has performed an
        analysis of each of the Mortgaged Properties located in seismic zones 3 or 4 in order to evaluate the seismic condition of such
        property, for the sole purpose of assessing the probable maximum loss or scenario expected loss (“PML”) for the Mortgaged
        Property in the event of an earthquake. In such instance, the PML was based on a 475-year return period, an exposure period of
        50 years and a 10% probability of exceedance. If the resulting report concluded that the PML would exceed 20% of the amount of
        the replacement costs of the improvements, earthquake insurance on such Mortgaged Property was obtained by an insurer rated at
        least “A:VIII” by A.M. Best Company or “A3” (or the equivalent) from Moody’s Investors Service, Inc.
        or “A-” by S&P Global Ratings in an amount not less than 100% of the PML.

         

        The Mortgage Loan documents require insurance proceeds (or an
        amount equal to such insurance proceeds) in respect of a property loss to be applied either (a) to the repair or restoration of
        all or part of the related Mortgaged Property, with respect to all property losses in excess of 5% of the then-outstanding principal
        amount of the related Mortgage Loan, the Mortgagee (or a trustee appointed by it) having the right to hold and disburse such proceeds
        as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance of such Mortgage Loan together
        with any accrued interest thereon.

         

        All premiums on all insurance policies referred to in this section
        that are required by the Mortgage Loan documents to be paid as of the Cut-off Date have been paid, and such insurance policies
        name the Mortgagee under the Mortgage Loan and its successors and assigns as a loss payee under a mortgagee endorsement clause
        or, in the case of the general liability insurance policy, as named or additional insured. Such insurance

        
	 	any coinsurance provisions with respect to the related Mortgaged Property by an insurer meeting the Insurance Rating Requirements. If so determined with respect to each part of this Test, it will be a Test pass.	 
	17g	Review the Insurance Summary Report dated before the Cut-off Date (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) and Mortgage Loan Documents to determine if the Mortgage Property is covered, and required to be covered pursuant to the related Mortgage Loan Documents, by a commercial general liability insurance policy issued by an insurer meeting the Insurance Rating Requirements including coverage for property damage, contractual damage and personal injury (including bodily injury and death) in amounts as are generally required by the Mortgage Loan Seller for similar commercial and multifamily loans intended for securitization, and in any event not less than $1 million per occurrence and $2 million in the aggregate. If so determined, it will be a Test pass.	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance); Mortgage Loan Documents
	17h	Review the property condition assessment to determine if the properties are located in a seismic zone 3 or 4. If so determined, review the seismic engineering study to determine if it has been performed by an architectural or engineering consultant for the sole purpose of assessing the PML for the Mortgaged Property in the event of an earthquake and based on a 475-year return period, an exposure period of 50 years and a 10% probability of exceedance. If so determined, it will be a Test pass.	Property condition assessment; Seismic engineering study
	17i	Review the most recent seismic engineering study or Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if the PML would exceed 20% of the amount of the replacement costs of the improvements, and if so, review to determine if earthquake insurance on such Mortgaged Property was obtained. If so determined, determine if the insurer is meeting the Insurance Rating Requirements (as defined in representation and warranty 17). The insurance amount should be not less than 100% of the PML. If so determined with respect to each part of the Test, it will be a Test pass.	Seismic engineering study; Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)
	17j	Review the Mortgage Loan Documents for provisions requiring that insurance proceeds (or an amount equal to such 	Mortgage Loan Documents

 

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        policies will inure to the benefit of the trustee (or, in the
        case of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Trustee). Each related Mortgage Loan obligates the related Mortgagor
        to maintain all such insurance and, at such Mortgagor’s failure to do so, authorizes the Mortgagee to maintain such insurance
        at the Mortgagor’s cost and expense and to charge such Mortgagor for related premiums. All such insurance policies (other
        than commercial liability policies) require at least 10 days’ prior notice to the Mortgagee of termination or cancellation
        arising because of nonpayment of a premium and at least 30 days’ prior notice to the Mortgagee of termination or cancellation
        (or such lesser period, not less than 10 days, as may be required by applicable law) arising for any reason other than non-payment
        of a premium and no such notice has been received by the Mortgage Loan Seller.

         
	 	insurance proceeds) in respect of a property loss be applied either (a) to the repair or restoration of all or part of the related Mortgaged Property, with respect to all property losses in excess of 5% of the then-outstanding principal amount of the Mortgage Loan, the Mortgagee (or a trustee appointed by it) having the right to hold and disburse such proceeds as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance of such Mortgage Loan together with any accrued interest thereon. If such provisions are found, it will be a Test pass.	 
	17k	Review the MS Servicer Notices for a notation or other indication that insurance premiums are current as of the Cut-off Date. If such a notation or other indication is found, it will be a Test pass.	MS Servicer Notices
	17l	Review the Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if the insurance policies name the Mortgagee under any Mortgage Loan and its successors and assigns as a loss payee under a mortgagee endorsement clause or, in the case of the general liability insurance policy, as named or additional insured. If so determined, it will be a Test pass.	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)
	17m	Review the Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if the insurance will inure to the benefit of the trustee (or, in the case of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Trustee). If so determined, it will be a Test pass.	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)
	17n	Review the Mortgage Loan Documents to determine if any Mortgage Loan obligates the Mortgagor to maintain all such insurance and, at such Mortgagor’s failure to do so, authorizes the Mortgagee to maintain such insurance at the Mortgagor’s cost and expense and to charge such Mortgagor for related premiums. If so determined, it will be a Test pass.	Mortgage Loan Documents
	17o	Review the Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if the insurance policies (other than commercial liability policies) require at least 10 days’ prior notice to the Mortgagee of termination or cancellation arising because of nonpayment of a premium and at least 30 days’ prior notice 	Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance)

 

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	 	 	to the Mortgagee of termination or cancellation (or such lesser period, not less than 10 days, as may be required by applicable law) arising for any reason other than non-payment of a premium.  If so determined, it will be a Test pass.	 
	17p	Review the MS Servicer Notices for a notation or other indication that any notice described in Test 17o may have been received by the Mortgage Loan Seller. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	18. Access; Utilities; Separate Tax Parcels. Based solely on evaluation of the Title Policy (as defined in representation and warranty 7) and survey, if any, an engineering report or property condition assessment as described in representation and warranty 11, applicable local law compliance materials as described in representation and warranty 25, and the ESA (as defined in representation and warranty 41), each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has permanent access from a recorded easement or right of way permitting ingress and egress to/from a public road, (b) is served by or has access rights to public or private water and sewer (or well and septic) and other utilities necessary for the current use of the Mortgaged Property, all of which are adequate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been made or is required to be made to the applicable governing authority for creation of separate tax parcels (or the Mortgage Loan documents so require such application in the future), in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax parcels are created.	18a	Review the zoning report, Title Policy and survey, engineering report or property condition assessment, the Sponsor Diligence and the ESA to determine if each Mortgaged Property is located on or adjacent to a public road and has direct legal access to such road, or has permanent access easement or right of way permitting ingress and egress to/from a public road. If so determined, it will be a Test pass.	Zoning report; Title Policy; Survey; Engineering report or property condition assessment; Sponsor Diligence; ESA
	18b	Review the zoning report, Title Policy and survey, engineering report or property condition assessment, the Sponsor Diligence and the ESA to determine if each Mortgaged Property is served by or has access rights to public or private water and sewer (or well and septic) and other utilities necessary for the current use of the Mortgaged Property, all of which are adequate for the current use of the Mortgaged Property. If so determined, it will be a Test pass.	Zoning report; Title Policy; Survey; Engineering report or property condition assessment; Sponsor Diligence; ESA
	18c	Review the Title Policy and survey to determine if each Mortgaged Property constitutes one or more separate tax parcels and do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the most recently dated Title Policy insuring the Mortgaged Property, or in certain cases, an application has been made or is required to be made to the applicable governing authority for creation of separate tax parcels, in which case any Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax parcels are created. If so determined, it will be a Test pass.	Title Policy; Survey; Mortgage Loan Documents
	19. No Encroachments. To the Mortgage Loan Seller’s knowledge based solely on surveys obtained in connection with origination and the Title Policy obtained in connection with the origination of each Mortgage Loan, and except for encroachments that do not materially and adversely affect the current marketability or principal use of the Mortgaged Property:  (a) all material improvements that were included for the purpose of determining the appraised value of the related Mortgaged 	19a	Review the survey and Title Policy to determine if all material improvements that were included for the purpose of determining the appraised value of the Mortgaged Property at the time of the origination of such Mortgage Loan are within the boundaries of the related Mortgaged Property, except for encroachments that are insured by applicable Title Policy. If so determined, it will be a Test pass.	Survey; Title Policy; Appraisal

 

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	Property at the time of the origination of such Mortgage Loan are within the boundaries of the related Mortgaged Property, except for encroachments that are insured against by the applicable Title Policy; (b) no material improvements on adjoining parcels encroach onto the related Mortgaged Property except for encroachments that are insured against by the applicable Title Policy; and (c) no material improvements encroach upon any easements except for encroachments that are insured against by the applicable Title Policy.

                                                                                 
	19b	Review the survey and Title Policy to determine if there exist material improvements on adjoining parcels that encroach onto the Mortgaged Property which are not insured by applicable Title Policy. If not so determined, it will be a Test pass.	Survey; Title Policy
	19c	Review the survey and Title Policy to determine if there exist material improvements that encroach upon any easements except for encroachments that are insured against by the applicable Title Policy. If not so determined, it will be a Test pass.	Survey; Title Policy
	20. No Contingent Interest or Equity Participation. No Mortgage Loan has a shared appreciation feature, any other contingent interest feature or a negative amortization feature (except that an ARD Loan may provide for the accrual of the portion of interest in excess of the rate in effect prior to the Anticipated Repayment Date) or an equity participation by the Mortgage Loan Seller.	20	Review the Mortgage Loan Documents for any shared appreciation feature or any other contingent interest feature or a negative amortization feature (except that an ARD Loan may provide for the accrual of the portion of interest in excess of the rate in effect prior to the Anticipated Repayment Date) or an equity participation by the Mortgage Loan Seller. If no such feature is found with respect to each part of this Test, it will be a Test pass.	Mortgage Loan Documents
	21. REMIC. The Mortgage Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either:  (a) such Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan was originated at least equal to 80% of the adjusted issue price of the Mortgage Loan (together with any related Pari Passu Companion Loans) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of the Mortgage Loan (together with any related Pari Passu Companion Loans) on such date, provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real 	21a	Review the origination settlement statement and Mortgage Note to determine if the proceeds advanced by the Mortgagee did not exceed the non-contingent principal amount of the Mortgage Loan. If so determined, it will be a Test pass.	Origination settlement statement; Mortgage Loan
	21b	Review the most recent appraisal and Mortgage Loan Documents to determine if  (a) the Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components, such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan was originated at least equal to 80% of the initial principal amount of any Mortgage Loan (together with any related Pari Passu Companion Loans) on such date or (ii) at the Closing Date at least equal to 80% of the outstanding principal amount of the Mortgage Loan (together with any related Pari Passu Companion Loans) on such date, provided that for purposes of clauses (i) and (ii) above, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to such Mortgage Loan and (B) 	Appraisal; Mortgage Loan Documents

 

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	property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)).  If the Mortgage Loan was “significantly modified” prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto.  Any prepayment premiums and yield maintenance charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Treasury Regulations Section 1.860G 1(b)(2).  All terms used in this representation and warranty shall have the same meanings as set forth in the related Treasury Regulations.	 	a proportionate amount of any lien that is in parity with such Mortgage Loan or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)). If so determined, it will be a Test pass.	 
	21c	Review the MS Servicer Notices for an indication or other notation that the Mortgage Loan was modified prior to the Closing Date, and if so, if the modification was made as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(i) in the first sentence of representation and warranty 21 (substituting the date of the last such modification for the date any Mortgage Loan was originated) or sub-clause (B)(ii) in the first sentence of representation and warranty 21, including the proviso thereto. If there were any such modifications, and such a notation or other indication is found, it will be a Test pass.	MS Servicer Notices
	21d	Review the MS Servicer Notices for a notation or other indication of any claim or assertion to the effect that the Prepayment Premiums and Yield Maintenance Charges applicable to any Mortgage Loan do not constitute “customary prepayment penalties”. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	22. Compliance with Usury Laws. The mortgage rate (exclusive of any default interest, late charges, yield maintenance charge or prepayment premium) of such Mortgage Loan complied as of the date of origination with, or was exempt from, applicable state or federal laws, regulations and other requirements pertaining to usury.	22a	Review the MS Servicer Notices for a notation or other indication of any claim or assertion to the effect that the terms of the Mortgage Loan do not comply with applicable local, state, and federal laws in any material respect. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	22b	Review the MS Servicer Notices for a notation or other indication of any claim or assertion to the effect that any material requirements pertaining to the origination of any Mortgage Loan, including but not limited to, usury and any and all other material requirements of any federal, state or local law have not been complied with. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices

 

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	 	22c	Review the Mortgage Loan Documents to determine if they provide that the Mortgage Loan complied with usury laws. If so determined, it will be a Test pass.	Mortgage Loan Documents
	23. Authorized to do Business. To the extent required under applicable law, as of the Cut-off Date or as of the date that such entity held the Mortgage Note, each holder of the Mortgage Note was authorized to transact and do business in the jurisdiction in which each related Mortgaged Property is located, or the failure to be so authorized does not materially and adversely affect the enforceability of such Mortgage Loan by the Trust.	23	Review the MS Servicer Notices for a notation or other indication of any claim or assertion that as of the date that the Mortgage Loan Seller or any prior Mortgagee held the Mortgage Note, each such holder of the Mortgage Note was not authorized to transact or do business in the jurisdiction in which each related Mortgaged Property is located. If such a notation or other indication is found, determine whether the failure to be so authorized could not materially and adversely affect the enforceability of such Mortgage Loan by the Trust. If so determined, it will be a Test pass.	MS Servicer Notices
	24. Trustee under Deed of Trust. With respect to each Mortgage which is a deed of trust, as of the date of origination and, to the Mortgage Loan Seller’s knowledge, as of the Closing Date, a trustee, duly qualified under applicable law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with the Mortgage and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related Mortgagee.	24	Review the Mortgage Loan Documents to determine if a trustee is appointed.  If so determined, it will be a Test pass.	Mortgage Loan Documents
	25. Local Law Compliance. To the Mortgage Loan Seller’s knowledge, based upon any of a letter from any governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the related Title Policy, a survey, or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization, the improvements located on or forming part of each Mortgaged Property securing a Mortgage Loan are in material compliance with applicable laws, zoning ordinances, rules, covenants, and restrictions (collectively “Zoning Regulations”) governing the occupancy, use, and operation of such Mortgaged Property or constitute a legal non-conforming use or structure and any non-conformity with zoning laws constitutes a legal non-conforming use or structure which does not materially and adversely affect the use, operation or value of such Mortgaged Property.  In the event of casualty or destruction, (a) the Mortgaged Property may be restored or repaired to the full extent necessary to maintain the use of the structure immediately prior to such casualty or destruction, (b) law and ordinance insurance coverage has been obtained for the Mortgaged Property in amounts customarily required by the Mortgage Loan Seller for similar commercial and multifamily loans intended for securitization, (c) title insurance policy coverage has been obtained with respect to any non-conforming use or 	25a	Review the zoning report, a letter from any governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the related Title Policy, a survey or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization to determine if the improvements located on or forming part of each Mortgaged Property securing a Mortgage Loan are in material compliance with applicable Zoning Regulations governing the occupancy, use, and operation of such Mortgaged Property or constitute a legal non-conforming use or structure. If so determined, it will be a Test pass.	Zoning report; Letter from any governmental authorities; Legal opinion; Architect’s letter; Endorsement to the related Title Policy; Survey; Other affirmative investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization
	25b	Review the zoning report, a letter from any governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the related Title Policy, a survey or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization to determine if any non-conformity with zoning laws constitutes a legal non-conforming use or structure which does not materially and 	Zoning report; Letter from any governmental authorities; Legal opinion; Architect’s letter; Endorsement to the related Title Policy; Survey; Other affirmative investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for 

 

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	structure, or (d) the inability to restore the Mortgaged Property to the full extent of the use or structure immediately prior to the casualty would not materially and adversely affect the use or operation of such Mortgaged Property.  The Mortgage Loan documents require the related Mortgagor to be qualified to do business in the jurisdiction in which the related Mortgaged Property is located.	 	adversely affect the use or operation of such Mortgaged Property. If so determined, review the Insurance Summary Report to determine if title insurance policy was obtained prior to the Closing Date with respect to any non-conforming use or structure. If so determined, it will be a Test pass.	securitization; Insurance Summary Report
	25c	Review the Mortgage Loan Documents for provisions to the effect that, in the event of casualty or destruction, the Mortgaged Property may be restored or repaired to the full extent necessary to maintain the use of the structure immediately prior to such casualty or destruction. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	25d	If the zoning report, a letter from any governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the related Title Policy, a survey or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization indicates that all or any part of the Mortgaged Property do not comply with zoning laws, review the Insurance Summary Report (or solely with respect to residential cooperative properties, review the insurance policies and/or certificates of insurance) to determine if law and ordinance coverage was obtained prior to the Closing Date that provides coverage for additional costs to rebuild and/or repair the property to current Zoning Regulations. If not so determined, review the Title Policy to determine if it insures over such nonconformity. If so determined, it will be a Test pass.	Zoning report; Insurance Summary Report (solely with respect to residential cooperative properties, the insurance policies and/or certificates of insurance); Letter from any governmental authorities; Legal opinion; Architect’s letter; Endorsement to the related Title Policy; Survey; Other affirmative investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization
	25e	Review the Mortgage Loan Documents for provisions that require the related Mortgagor to be qualified to do business in the jurisdiction in which the related Mortgaged Property is located. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	26. Licenses and Permits. Each Mortgagor covenants in the Mortgage Loan documents that it shall keep all material licenses, permits, franchises, certificates of occupancy and applicable governmental approvals necessary for the operation of the Mortgaged Property in full force and effect, and to the Mortgage Loan Seller’s knowledge based upon any of a letter from any government authorities, zoning consultant’s report or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization; all such material licenses, permits, franchises and 	26a	Review the Mortgage Loan Documents to determine if the Mortgagor has covenanted to keep all material licenses, permits, franchises, certificates of occupancy and applicable governmental approvals necessary for the operation of the Mortgaged Property in full force and effect. If so determined, it will be a Test pass.	Mortgage Loan Documents
	26b	Review the Mortgage Loan Documents and the MS Servicer Notices for a notation or other indication that (a) the Mortgage Loan Seller had knowledge that any licenses, permits, franchises and applicable governmental approvals 	Mortgage Loan Documents; MS Servicer Notices

 

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	applicable governmental approvals are in effect or the failure to obtain or maintain such material licenses, permits, franchises and applicable governmental approvals does not materially and adversely affect the use and/or operation of the Mortgaged Property as it was used and operated as of the date of origination of the Mortgage Loan or the rights of a holder of the related Mortgage Loan.  The Mortgage Loan documents require the related Mortgagor to comply in all material respects with all applicable regulations, zoning and building laws.	 	necessary for the operation of the Mortgaged Property are not in effect, and (b) the failure to obtain or maintain such material licenses, permits, franchises and applicable governmental approvals necessary could materially and adversely affect the use and/or operation of the Mortgaged Property as it was used and operated as of the date of origination of the Mortgage Loan or the rights of a holder or the related Mortgage Loan. If such a notation or other indication is not found, it will be a Test pass.	 
	26c	Review the Mortgage Loan Documents for provisions requiring the related Mortgagor and the Mortgaged Property to comply in all material respects with all applicable regulations, zoning and building laws. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	27. Recourse Obligations. The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect):  (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect):  (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in 	27a	Review the Mortgage Loan Documents for provisions permitting full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be Affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in connection with the events or circumstances set forth in clauses (a)(i) through (a)(iii) of representation and warranty 27. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	27b	Review the Mortgage Loan Documents to determine if there exist provisions permitting recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be Affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the events or circumstances set forth in clauses (b)(i) through (b)(iv) of representation and warranty 27. If so determined, it will be a Test pass.	Mortgage Loan Documents

 

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	some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).	 	 	 
	
        28. Mortgage Releases. The terms of the related Mortgage
        or related Mortgage Loan documents do not provide for release of any material portion of the Mortgaged Property from the lien of
        the Mortgage except (a) a partial release, accompanied by principal repayment, or partial defeasance (as described in representation
        and warranty 33) of not less than a specified percentage at least equal to the lesser of (i) 110% of the related allocated loan
        amount of such portion of the Mortgaged Property and (ii) the outstanding principal balance of the Mortgage Loan, (b) upon payment
        in full of such Mortgage Loan, (c) upon a Defeasance (defined in representation and warranty 33 below), (d) releases of out-parcels
        that are unimproved or other portions of the Mortgaged Property which will not have a material adverse effect on the underwritten
        value of the Mortgaged Property and which were not afforded any material value in the appraisal obtained at the origination of
        the Mortgage Loan and are not necessary for physical access to the Mortgaged Property or compliance with zoning requirements, or
        (e) as required pursuant to an order of condemnation. With respect to any partial release under the preceding clauses (a) or (d),
        either: (x) such release of collateral (i) would not constitute a “significant modification” of the subject Mortgage
        Loan within the meaning of Treasury Regulations Section 1.860G-2(b)(2) and (ii) would not cause the subject Mortgage Loan to fail
        to be a “qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the Code; or (y) the Mortgagee or servicer
        can, in accordance with the related Mortgage Loan documents, condition such release of collateral on the related Mortgagor’s
        delivery of an opinion of tax counsel to the effect specified in the immediately preceding clause (x). For purposes of the preceding
        clause (x), if the fair market value of the real property constituting such Mortgaged Property (reduced by (1) the amount of any
        lien on the real property that is senior to the Mortgage Loan and (2) a proportionate amount of any lien on the real property that
        is in parity with the Mortgage Loan) after the release is not equal to at least 80% of the principal balance of the Mortgage Loan
        (together with any related Pari Passu Companion Loans) outstanding after the release, the Mortgagor is required to make a payment
        of principal in an amount not less than the amount required by the REMIC Provisions.

        In the case of any Mortgage Loan, in the event of a taking of
        any portion of a Mortgaged Property by a State or any political subdivision or authority thereof, whether by legal proceeding or
        by agreement, the Mortgagor can be required to pay down the principal balance of the Mortgage Loan (together with any related Pari
        Passu Companion Loans) in an amount not less than the amount required by the REMIC Provisions

	28a	Review the Mortgage Loan Documents for provisions stating that, if the related Mortgage Loan Documents permit a property release, the only conditions under which a property may be released during the life of the Mortgage Loan are as set forth in clauses (a) through (e) of the first sentence of representation and warranty 28. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	28b	Review the Mortgage Loan Documents for provisions stating that with respect to any partial release described in clauses (a) or (d) of the first sentence of representation and warranty 28 either: (x) such release of collateral (i) would not constitute a “significant modification” of the subject Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b)(2) and (ii) would not cause the subject Mortgage Loan to fail to be a “qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the Code; or (y) the Mortgagee or servicer can, in accordance with the related Loan Documents, condition such release of collateral on the related Mortgagor’s delivery of an opinion of tax counsel to the effect specified in the immediately preceding clause (x). For purposes of the preceding clause (x), if the fair market value of the real property constituting such Mortgaged Property (reduced by (1) the amount of any lien on the real property that is senior to the Mortgage Loan and (2) a proportionate amount of any lien on the real property that is in parity with the Mortgage Loan) after the release is not equal to at least 80% of the principal balance of the Mortgage Loan (together with any related Pari Passu Companion Loans) outstanding after the release, the Mortgagor is required to make a payment of principal in an amount not less than the amount required by the REMIC Provisions. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	28c	Review the Loan Documents for provisions stating that in the case of any Mortgage Loan, in the event of a taking of any portion of a Mortgaged Property by a State or any political subdivision or authority thereof, whether by legal proceeding or by agreement, the Mortgagor can be required to pay down the principal balance of the Mortgage Loan (together with any related Pari Passu Companion Loans) in an amount not less than the amount required by the REMIC Provisions and, 	Mortgage Loan Documents

 

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        and, to such extent, the award from any such taking may not
        be required to be applied to the restoration of the Mortgaged Property or released to the Mortgagor, if, immediately after the
        release of such portion of the Mortgaged Property from the lien of the Mortgage (but taking into account the planned restoration)
        the fair market value of the real property constituting the remaining Mortgaged Property (reduced by (1) the amount of any lien
        on the real property that is senior to the Mortgage Loan and (2) a proportionate amount of any lien on the real property that is
        in parity with the Mortgage Loan) is not equal to at least 80% of the remaining principal balance of the Mortgage Loan (together
        with any related Pari Passu Companion Loans).

         

        No such Mortgage Loan that is secured by more than one Mortgaged
        Property or that is cross-collateralized with another Mortgage Loan permits the release of cross-collateralization of the related
        Mortgaged Properties or a portion thereof, including due to a partial condemnation, other than in compliance with the REMIC Provisions.

         
	 	to such extent, the award from any such taking may not be required to be applied to the restoration of the Mortgaged Property or released to the Mortgagor, if, immediately after the release of such portion of the Mortgaged Property from the lien of the Mortgage (but taking into account the planned restoration) the fair market value of the real property constituting the remaining Mortgaged Property (reduced by (1) the amount of any lien on the real property that is senior to the Mortgage Loan and (2) a proportionate amount of any lien on the real property that is in parity with the Mortgage Loan) is not equal to at least 80% of the remaining principal balance of the Mortgage Loan (together with any related Pari Passu Companion Loans). If such provisions are found, it will be a Test pass.	 
	28d	Review the Mortgage Loan Documents for provisions stating that no such Mortgage Loan that is secured by more than one Mortgaged Property or that is cross- collateralized with another Mortgage Loan permits the release of cross-collateralization of the related Mortgaged Properties or a portion thereof, including due to a partial condemnation, other than in compliance with the REMIC Provisions. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	29. Financial Reporting and Rent Rolls. Each Mortgage Loan requires the Mortgagor to provide the owner or holder of the Mortgage Loan with (a) quarterly (other than for single-tenant properties) and annual operating statements, (b) quarterly (other than for single-tenant properties) rent rolls (or maintenance schedules in the case of Mortgage Loans secured by residential cooperative properties) for properties that have any individual lease which accounts for more than 5% of the in-place base rent, and (c) annual financial statements.	29a	Review the Mortgage Loan Documents for provisions that require the Mortgagor to provide the owner or holder of the Mortgage Loan with quarterly (other than for single-tenant properties) and annual operating statements. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	29b	Review the Mortgage Loan Documents for provisions that require the Mortgagor to provide the owner or holder of the Mortgage Loan with quarterly (other than for single-tenant properties) rent rolls (or maintenance schedules in the case of Mortgage Loans secured by residential cooperative properties) for properties that have any individual ease which accounts for more than 5% of the in-place base rent and annual financial statements.  If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	30. Acts of Terrorism Exclusion. With respect to each Mortgage Loan over $20 million, as of origination the related special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program 	30a	Review the Mortgage Loan Documents to determine if the original principal balance was greater than $20 million. If so, review the insurance coverage review document for an indication that the special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude 	Mortgage Loan Documents; Insurance coverage review document

 

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	Reauthorization Act of 2007 and the Terrorism Risk Insurance Program Reauthorization Act of 2015 (collectively referred to as “TRIPRA”), from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy.  With respect to each Mortgage Loan, the related Mortgage Loan documents do not expressly waive or prohibit the Mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIPRA, or damages related thereto, except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated on Schedule C to the applicable Mortgage Loan Purchase Agreement; provided, that if TRIPRA or a similar or subsequent statute is not in effect, then, provided that terrorism insurance is commercially available, the Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Mortgage Loan documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan, and if the cost of terrorism insurance exceeds such amount, the Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount.	 	acts of terrorism, from coverage, or if they do, there exists a separate terrorism insurance policy related to the Mortgaged Property.  If such an indication is found, it will be a Test pass.	 
	30b	Review the Mortgage Loan Documents for provisions that do not expressly waive or prohibit the Mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIPRA (as defined in representation and warranty 30), or damages related thereto, except to the extent that any right to require such coverage may be limited by commercial availability on commercially reasonable terms, or as otherwise indicated on Schedule C to the applicable Mortgage Loan Purchase Agreement, provided, that if TRIPRA or a similar or subsequent statute is not in effect, then, provided that terrorism insurance is commercially available, the Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the Mortgagor shall not be required to spend on terrorism insurance coverage more than two times the amount of the insurance premium that is payable in respect of the property and business interruption/rental loss insurance required under the related Mortgage Loan documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance) at the time of the origination of the Mortgage Loan, and if the cost of terrorism insurance exceeds such amount, the Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount. If such provisions are not found, it will be a Test pass.	Mortgage Loan Documents
	31. Due on Sale or Encumbrance. Subject to specific exceptions set forth below, each Mortgage Loan contains a “due-on-sale” or other such provision for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the consent of the holder of the Mortgage (which consent, in some cases, may not be unreasonably withheld) and/or complying with the requirements of the related Mortgage Loan documents (which provide for transfers without the consent of the Mortgagee which are customarily acceptable to the Mortgage Loan Seller, including, but not limited to, transfers of worn-out or obsolete furnishings, fixtures, or equipment promptly replaced with property of equivalent value and functionality and transfers by leases entered into in accordance with the Mortgage Loan documents), (a) the related Mortgaged Property, or any equity interest of greater than 50% in the related Mortgagor, is directly or indirectly pledged, transferred or 	31a	Review the Mortgage Loan Documents for “due-on-sale” or other such provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan in the circumstances described in the first sentence of representation and warranty 31. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	31b	Review the Mortgage Loan Documents for provisions that require that if Rating Agency fees are incurred in connection with the review of and consent to any transfer or encumbrance, the Mortgagor is responsible for such payment along with all other reasonable fees and expenses incurred by the Mortgagee relative to such transfer or encumbrance. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents

 

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	sold, other than as related to (i) family and estate planning transfers or transfers upon death or legal incapacity, (ii) transfers to certain affiliates as defined in the related Mortgage Loan documents, (iii) transfers of less than, or other than, a controlling interest in a Mortgagor, (iv) transfers to another holder of direct or indirect equity in the Mortgagor, a specific Person designated in the related Mortgage Loan documents or a Person satisfying specific criteria identified in the related Mortgage Loan documents, (v) transfers of common stock in publicly traded companies or (vi) a substitution or release of collateral within the parameters of representation and warranties 28 and 33 herein, or (vii) by reason of any mezzanine debt that existed at the origination of the related Mortgage Loan as set forth on Exhibit C-32-1 to the applicable Mortgage Loan Purchase Agreement, or future permitted mezzanine debt as set forth on Exhibit C-32-2 to the applicable Mortgage Loan Purchase Agreement or (b) the related Mortgaged Property is encumbered with a subordinate lien or security interest against the related Mortgaged Property, other than (i) any Companion Loan of any Mortgage Loan or any subordinate debt that existed at origination and is permitted under the related Mortgage Loan documents, (ii) purchase money security interests (iii) any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan as set forth on Exhibit C-32-3 to the applicable Mortgage Loan Purchase Agreement or (iv) Permitted Encumbrances.  The Mortgage or other Mortgage Loan documents provide that to the extent any Rating Agency fees are incurred in connection with the review of and consent to any transfer or encumbrance, the Mortgagor is responsible for such payment along with all other reasonable fees and expenses incurred by the Mortgagee relative to such transfer or encumbrance.	 	 	 
	32. Single-Purpose Entity. Each Mortgage Loan requires the Mortgagor to be a Single-Purpose Entity for at least as long as the Mortgage Loan is outstanding.  Each Mortgage Loan with a Cut-off Date Balance of $30 million or more has a counsel’s opinion regarding non-consolidation of the Mortgagor.  For this purpose, a “Single-Purpose Entity” shall mean an entity, other than an individual, whose organizational documents and the related Mortgage Loan documents (or if the Mortgage Loan has a Cut-off Date Balance equal to $10 million or less, its organizational documents or the related Mortgage Loan documents) provide substantially to the effect that it was formed or organized solely for the purpose of owning and operating one or more of the Mortgaged Properties and prohibit it from engaging in any business unrelated to such Mortgaged Property or Mortgaged Properties, and whose organizational documents further provide, or which entity represented in the related Mortgage Loan documents, substantially to the effect that it does not have any assets 	32a	Review the Mortgage Loan Documents for provisions that require that the Mortgagor to be a Single-Purpose Entity (as defined in representation and warranty 32) for at least as long as any Mortgage Loan is outstanding. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	32b	Review the Mortgage Loan Schedule for the Cut-off Date Balance of the Mortgage Loan. If the Mortgage Loan had a Cut-off Date Balance in excess of $10 million, review the related Mortgage Loan Documents and the Mortgagor’s organizational documents for provisions that require the Mortgagor to be a Single-Purpose Entity. If the provisions exist, it will be a Test pass.	Mortgage Loan Schedule; Mortgage Loan Documents; Mortgagor’s organizational documents
	32c	Review the Mortgage Loan Schedule for the Cut-off Date Balance of the Mortgage Loan. If the Mortgage Loan had a Cut-off Date Balance in excess of $30 million, review the 	Mortgage Loan Schedule; Mortgagor’s Counsel Opinion

 

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	other than those related to its interest in and operation of such Mortgaged Property or Mortgaged Properties, or any indebtedness other than as permitted by the related Mortgage(s) or the other related Mortgage Loan documents, that it has its own books and records and accounts separate and apart from those of any other person (other than a Mortgagor for a Mortgage Loan that is cross-collateralized and cross-defaulted with the related Mortgage Loan), and that it holds itself out as a legal entity, separate and apart from any other person or entity.	 	Mortgagor’s Counsel Opinion regarding non-consolidation of the Mortgagor. If such an opinion is found, it will be a Test pass.	 
	33. Defeasance. With respect to any Mortgage Loan that, pursuant to the Mortgage Loan documents, can be defeased (a “Defeasance”), (i) the Mortgage Loan documents provide for defeasance as a unilateral right of the Mortgagor, subject to satisfaction of conditions specified in the Mortgage Loan documents; (ii) the Mortgage Loan cannot be defeased within two years after the Closing Date; (iii) the Mortgagor is permitted to pledge only United States “government securities” within the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii), the revenues from which will be sufficient to make all scheduled payments under the Mortgage Loan when due, including the entire remaining principal balance on the maturity date (or on or after the first date on which payment may be made without payment of a yield maintenance charge or prepayment premium) or, if the Mortgage Loan is an ARD Loan, the entire principal balance outstanding on the Anticipated Repayment Date (or on or after the first date on which payment may be made without payment of a yield maintenance charge or prepayment premium), and if the Mortgage Loan permits partial releases of real property in connection with partial defeasance, the revenues from the collateral will be sufficient to pay all such scheduled payments calculated on a principal amount equal to a specified percentage at least equal to the lesser of (A) 110% of the allocated loan amount for the real property to be released and (B) the outstanding principal balance of the Mortgage Loan; (iv) the defeasance collateral is not permitted to be subject to prepayment, call, or early redemption; (v) the Mortgagor is required to provide a certification from an independent certified public accountant that the collateral is sufficient to make all scheduled payments under the Mortgage Note as set forth in clause (iii) above; (vi) the defeased note and the defeasance collateral are required to be assumed by a Single-Purpose Entity; (vii) the Mortgagor is required to provide an opinion of counsel that the Trustee has a perfected security interest in such collateral prior to any other claim or interest; and (viii) the Mortgagor is required to pay all rating agency fees associated with defeasance (if rating confirmation is a specific condition precedent thereto) and all other reasonable expenses associated with defeasance, including, but not limited to, accountant’s fees and opinions of counsel.	33	Review the Mortgage Loan Documents for provisions allowing the Mortgage Loan to be defeased, and if so, whether such Mortgage Loan Documents contain the provisions described in clauses (i) through (viii) of representation and warranty 33. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents

 

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	34. Fixed Interest Rates. Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of ARD Loans and situations where default interest is imposed.	34	Review the Mortgage Loan Documents for an indication that the loan has a fixed interest rate that remains fixed throughout the term of such Mortgage Loan, except in the case of ARD Loans and situations where default interest is imposed. If such an indication is found, it will be a Test pass.	Mortgage Loan Documents
	
        35. Ground Leases. For purposes of these representations
        and warranties, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner
        as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements,
        if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building
        and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner.

        

        With respect to any Mortgage Loan where the Mortgage Loan is
        secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s
        fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received
        from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and
        Related Documents”), Mortgage Loan Seller represents and warrants that:

        

        (a)       The Ground Lease
        or a memorandum regarding such Ground Lease has been duly recorded or submitted for recordation in a form that is acceptable for
        recording in the applicable jurisdiction. The Ground Lease and Related Documents permit the interest of the lessee to be encumbered
        by the related Mortgage and do not restrict the use of the related Mortgaged Property by such lessee, its successors or assigns
        in a manner that would materially adversely affect the security provided by the related Mortgage. No material change in the terms
        of the Ground Lease had occurred since the origination of the Mortgage Loan, except by any written instruments which are included
        in the related Mortgage File;

        

        (b)       The lessor under
        such Ground Lease has agreed in a writing included in the related Mortgage File (or in such Ground Lease and Related Documents)
        that the Ground Lease may not be amended, modified, canceled or terminated by agreement of lessor and lessee without the prior
        written consent of the Mortgagee;

        

        (c)       The Ground Lease
        has an original term (or an original term plus one or more optional renewal terms, which, under all circumstances, may be exercised,
        and will be enforceable, by either the Mortgagor or the Mortgagee) that extends not less than 20 years beyond the stated maturity
        of the related Mortgage Loan, or 10 years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity
        (or with respect to a

        
	35a	Review the appraisal to determine if the Mortgage Loan is secured by a Ground Lease (as defined in representation and warranty 35), in whole or in part. If so, review the Title Policy and Mortgage Loan Documents for an indication that the related Mortgage does not also encumber the lessor’s fee interest in the Mortgaged Property. If such an indication exists, proceed to Tests 35b through 35r.	Appraisal; Title Policy; Mortgage Loan Documents
	35b	Review the Title Policy and Mortgage Loan Documents for an indication that the Ground Lease or memorandum has been recorded or submitted for recordation. If such indication is found, it will be a Test pass.	Title Policy; Mortgage Loan Documents
	35c	Review the Ground Lease and Related Documents for an indication that the interest of the lessee is permitted to be encumbered by the Mortgage and does not restrict the use of the Mortgaged Property by such lessee, its successors or assigns in a manner that would adversely affect the security provided by the Mortgage. If such indication is found, it will be a Test pass.	Ground Lease and Related Documents
	35d	Review the MS Servicer Notices for notation that, as of the Closing Date, there was a material change in the terms of the Ground Lease since the origination of the Mortgage Loan. If no such notation is found, it will be a Test pass. If such notation is found, review the Mortgage File for a modification agreement or other such instrument is in the Mortgage File. If the modification agreement or instrument is in the Mortgage File, it will be a Test pass.	MS Servicer Notices; Mortgage File
	35e	Review the Ground Lease and Related Documents for a provision that the Ground Lease may not be amended, modified, canceled or terminated without the prior written consent of the Mortgagee and that any such action without such consent is not binding on the Mortgagee. If such a provision is found, it will be a Test pass.	Ground Lease and Related Documents
	35f	Review the Ground Lease and Related Documents for an indication that it has an original term (or an original term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by either Mortgagor or the Mortgagee) that extends not less than 	Ground Lease and Related Documents

 

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        Mortgage Loan that accrues on an actual 360 basis, substantially
        amortizes);

        

        (d)       The Ground Lease
        either (i) is not subject to any interests, estates, liens or encumbrances superior to, or of equal priority with, the Mortgage,
        except for the related fee interest of the ground lessor and the Permitted Encumbrances and Title Exceptions; or (ii) is the subject
        of a subordination, non-disturbance or attornment agreement or similar agreement to which the Mortgagee on the lessor’s fee
        interest is subject;

        

        (e)       Subject to the
        notice requirements of the Ground Lease and Related Documents, the Ground Lease does not place commercially unreasonable restrictions
        on the identity of the Mortgagee and the Ground Lease is assignable to the holder of the Mortgage Loan and its successors and assigns
        without the consent of the lessor thereunder (provided that proper notice is delivered to the extent required in accordance with
        the Ground Lease or, if such consent is required it either has been obtained or cannot be unreasonably withheld, provided that
        such Ground Lease has not been terminated and all amounts due thereunder have been paid), and in the event it is so assigned, it
        is further assignable by the holder of the Mortgage Loan and its successors and assigns without the consent of the lessor (provided
        that proper notice is delivered to the extent required in accordance with the Ground Lease or, if such consent is required it either
        has been obtained or cannot be unreasonably withheld, provided that such Ground Lease has not been terminated and all amounts due
        thereunder have been paid);

        

        (f)       The Mortgage Loan
        Seller has not received any written notice of material default under or notice of termination of such Ground Lease. To the Mortgage
        Loan Seller’s knowledge, there is no material default under such Ground Lease and no condition that, but for the passage
        of time or giving of notice, would result in a material default under the terms of such Ground Lease and to the Mortgage Loan Seller’s
        knowledge, such Ground Lease is in full force and effect as of the Closing Date;

        

        (g)       The Ground Lease
        and Related Documents require the lessor to give to the Mortgagee written notice of any default, provided that no notice of default
        or termination is effective against the Mortgagee unless such notice is given to the Mortgagee;

        

        (h)       A Mortgagee
is permitted a reasonable opportunity (including, where necessary, sufficient time to gain possession of the interest of the lessee
under the Ground Lease through legal proceedings) to cure any default under the Ground Lease which is curable after the Mortgagee’s
receipt of notice of any default before the lessor may terminate the Ground Lease;
	 	20 years beyond the stated maturity of the related Mortgage Loan, or ten years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity (or with respect to a Mortgage Loan that accrues on an actual 360 basis, substantially amortizes). If such an indication is found, it will be a Test pass.	 
	35g	Review the Title Policy for an indication that the Ground Lease is either (i) is not subject to any interests, estates, liens or encumbrances superior to, or of equal priority with, the Mortgage, except for the related fee interest of the ground lessor and the Permitted Encumbrances and Title Exceptions, or (ii) is the subject of a subordination, non-disturbance or attornment agreement or similar agreement to which the Mortgagee on the lessor’s fee interest is subject. If either indication is found, it will be a Test pass.	Title Policy; SNDA
	35h	Review the Ground Lease and Related Documents for an indication that the Ground Lease does not place commercially unreasonable restrictions on the identity of the Mortgagee and the Ground Lease is assignable to the holder of the Mortgage Loan and its successors and assigns without the consent of the lessor thereunder (provided that proper notice is delivered to the extent required in accordance with the Ground Lease or, if such consent is required it either has been obtained or cannot be unreasonably withheld, provided that such Ground Lease has not been terminated an all amounts due thereunder have been paid). If such indication is found, it will be a Test pass.	Ground Lease and Related Documents
	35i	Review the Ground Lease and Related Documents for an indication that in the event it is so assigned, it is further assignable by the holder of the Mortgage Loan and its successors and assigns without the consent of the lessor (provided that proper notice is delivered to the extent required in accordance with the Ground Lease or, if such consent is required it either has been obtained or cannot be unreasonably withheld, provided that such Ground Lease has not been terminated an all amounts due thereunder have been paid). If such indication is found, it will be a Test pass.	Ground Lease and Related Documents
	35j	Review the MS Servicer Notices for notation that the Mortgage Loan Seller has received any written notice of material default under or notice of termination of such Ground Lease. If no such notation is found, it will be a Test pass.	MS Servicer Notices

 

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	Representations and Warranties	Test	Review Materials
	
        (i)       The Ground Lease
        does not impose any restrictions on subletting that would be viewed as commercially unreasonable by the Mortgage Loan Seller in
        connection with the origination of similar commercial or multifamily loans intended for securitization;

        

        (j)       Under the terms
        of the Ground Lease and Related Documents, any related insurance proceeds or the portion of the condemnation award allocable to
        the ground lessee’s interest (other than in respect of a total or substantially total loss or taking as addressed in subpart
        (k)) will be applied either to the repair or to restoration of all or part of the related Mortgaged Property with (so long as such
        proceeds are in excess of the threshold amount specified in the related Mortgage Loan documents) the Mortgagee or a trustee appointed
        by it having the right to hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding
        principal balance of the Mortgage Loan, together with any accrued interest;

        

        (k)       In the case of
        a total or substantially total taking or loss, under the terms of the Ground Lease and Related Documents, any related insurance
        proceeds, or portion of the condemnation award allocable to ground lessee’s interest in respect of a total or substantially
        total loss or taking of the related Mortgaged Property to the extent not applied to restoration, will be applied first to the payment
        of the outstanding principal balance of the Mortgage Loan, together with any accrued interest; and

        

        (l)       Provided that the
        Mortgagee cures any defaults which are susceptible to being cured, the ground lessor has agreed to enter into a new lease with
        the Mortgagee upon termination of the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding.

         
	35k	Review the MS Servicer Notices for notation that to the Mortgage Loan Seller’s knowledge, there is a material default under such Ground Lease or condition that, but for the passage of time or giving of notice, would result in a material default under the terms of such Ground Lease. If no such notation is found, it will be a Test pass.	MS Servicer Notices
	35l	Review the MS Servicer Notices for a notation that to the Mortgage Loan Seller’s knowledge, such Ground Lease was not in full force and effect as of the Closing Date. If no such notation is found, it will be a Test pass.	MS Servicer Notices
	35m	Review the Ground Lease and Related Documents for provisions that the lessor is required to give to the Mortgagee written notice of any default, provided that no notice of default or termination is effective against the Mortgagee unless such notice is given to the Mortgagee. If such provisions are found, it will be a Test pass.	Ground Lease and Related Documents
	35n	Review the Ground Lease and Related Documents for provisions that the Mortgagee is permitted a reasonable opportunity (including, where necessary, sufficient time to gain possession of the interest of the lessee under the Ground Lease through legal proceedings) to cure any default under the Ground Lease which is curable after the Mortgagee’s receipt of notice of any default before the lessor may terminate the Ground Lease. If such provisions are found, it will be a Test pass.	Ground Lease and Related Documents
	35o	Review the Ground Lease for provisions that impose any commercially unreasonable restrictions on subletting in connection with the origination of similar commercial or multifamily loans intended for securitization. If no such provisions are found, it will be a Test pass.	Ground Lease
	35p	Review the Ground Lease and Related Documents and the Mortgage Loan Documents for an indication that any related insurance proceeds or the portion of the condemnation award allocable to the ground lessee’s interest (other than in respect of a total or substantially total loss or taking as addressed in subpart (34k)) will be applied either to the repair or to restoration of all or part of the related Mortgaged Property with (so long as such proceeds are in excess of the threshold amount specified in the related Mortgage Loan Documents) the Mortgagee or a trustee appointed by it having the right to hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding principal 	Ground Lease and Related Documents; Mortgage Loan Documents

 

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	Representations and Warranties	Test	Review Materials
	 	 	balance of the Mortgage Loan, together with any accrued interest. If such indications are found, it will be a Test pass.	 
	35q	Review the Ground Lease and Related Documents and the Mortgage Loan Documents for an indication that, in the case of a total or substantially total taking or loss, under the terms of the Ground Lease, an estoppel or other agreement and the related Mortgage (taken together), any related insurance proceeds, or portion of the condemnation award allocable to the ground lessee’s interest in respect of a total or substantially total loss or taking of the related Mortgaged Property to the extent not applied to restoration, will be applied first to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest. If such an indication is found, it will be a Test pass.	Ground Lease and Related Documents; Mortgage Loan Documents
	35r	Review the Ground Lease and Related Documents for provisions that, provided that the Mortgagee cures any defaults which are susceptible to being cured, the ground lessor has agreed to enter into a new lease with the Mortgagee upon termination of the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding. If such provisions are found, it will be a Test pass.	Ground Lease and Related Documents
	36. Servicing. The servicing and collection practices used by the Mortgage Loan Seller with respect to the Mortgage Loan have been, in all respects legal and have met with customary industry standards for servicing of commercial loans for conduit loan programs.	36	Review the MS Servicer Notices for a notation or other indication of any claims or assertions to the effect that the servicing and collection practices used by the Mortgage Loan Seller with respect to the Mortgage Loan was not in all material respects legal, or in accordance with customary industry standards for servicing of commercial loans for conduit loan programs. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	37. Origination and Underwriting. The origination practices of the Mortgage Loan Seller (or the related originator if the Mortgage Loan Seller was not the originator) with respect to each Mortgage Loan have been, in all material respects, legal and as of the date of its origination, such Mortgage Loan and the origination thereof complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination of such Mortgage Loan; provided that such representation and warranty does not address or otherwise cover any matters with respect to federal, state or local law otherwise covered in Exhibit C to the applicable Mortgage Loan Purchase Agreement. 	37	Review the MS Servicer Notices for notation to the effect that the origination practices of the Mortgage Loan Seller (or the related originator if the Mortgage Loan Seller was not the originator) with respect to each Mortgage Loan have not been, in all material respects, legal and as of the date of its origination, such Mortgage Loan, or the origination thereof did not comply in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination of such Mortgage Loan; provided that representation and warranty 37 does not address or otherwise cover any matters with respect to federal, state or local law otherwise covered in Exhibit C to the applicable Mortgage 	MS Servicer Notices

 

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	Representations and Warranties	Test	Review Materials
	 	 	Loan Purchase Agreement. If no such notation is found, it will be a Test pass.	 
	38. No Material Default; Payment Record. No Mortgage Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments in the prior 12 months (or since origination if such Mortgage Loan has been originated within the past 12 months), and as of Cut-off Date, no Mortgage Loan is delinquent (beyond any applicable grace or cure period) in making required payments.  To the Mortgage Loan Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property; provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Mortgage Loan Seller in Exhibit C to the applicable Mortgage Loan Purchase Agreement. No person other than the holder of such Mortgage Loan may declare any event of default under the Mortgage Loan or accelerate any indebtedness under the Mortgage Loan documents.	38a	Review the MS Servicer Notices for notation that (i) the Mortgage Loan has been more than 30 days delinquent, giving effect to any grace or cure period, in making required payments in the prior 12 months (or since origination if such Mortgage Loan has been originated within the past 12 months), or (ii) the Mortgage Loan was delinquent beyond any applicable grace or cure periods as of the Cut-off Date. If no such notation is found, it will be a Test pass.	MS Servicer Notices
	38b	Review the MS Servicer Notices for notation of the Mortgage Loan Seller’s knowledge of (a) a material default, breach, violation or event of acceleration existing under the related Mortgage Loan, or (b) an event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property. If no such notation is found, it will be a Test pass.	MS Servicer Notices
	39. Bankruptcy. As of the date of origination of the related Mortgage Loan and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, neither the Mortgaged Property (other than any tenants of such Mortgaged Property), nor any portion thereof, is the subject of, and no Mortgagor, guarantor or tenant occupying a single-tenant property is a debtor in state or federal bankruptcy, insolvency or similar proceeding.	39	Review the Lexis/Nexis (or comparable search) and the MS Servicer Notices for an indication that the Mortgaged Property (other than any tenants of such Mortgaged Property), or any portion thereof, was the subject of, or a Mortgagor, guarantor or tenant occupying a single-tenant property was a debtor in, a state or federal bankruptcy, insolvency or similar proceeding. If no such indication or notation is found, it will be a Test pass.	Lexis/Nexis (or comparable) search; MS Servicer Notices
	40. Organization of Mortgagor. With respect to each Mortgage Loan, in reliance on certified copies of the organizational documents of the Mortgagor delivered by the Mortgagor in connection with the origination of such Mortgage Loan, the Mortgagor is an entity organized under the laws of a state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico.  Except with respect to any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan and other than as set forth on Exhibit C-32-4 to the related Mortgage Loan Purchase Agreement, no Mortgage Loan has a Mortgagor that is an Affiliate of a Mortgagor with respect to another 	40a	Review the Diligence File to determine if it includes certified copies of the organizational documents of the Mortgagor indicating that the Mortgagor is an entity organized under the laws of a state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico. If such indication is found, it will be a Test pass.	Diligence File
	40b	Review the Diligence File for an indication that, except with respect to any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan and other than as set forth on Exhibit C-32-4 to the related Mortgage Loan 	Diligence File

 

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	Representations and Warranties	Test	Review Materials
	Mortgage Loan.  An “Affiliate” for purposes of this representation and warranty 40 means, a Mortgagor that is under direct or indirect common ownership and control with another Mortgagor.	 	Purchase Agreement, no Mortgage Loan has a Mortgagor that is an affiliate of another Mortgagor under another Mortgage Loan. If such an indication is found, it will be a Test pass.	 
	41. Environmental Conditions. A Phase I environmental site assessment (or update of a previous Phase I and or Phase II environmental site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting ASTM requirements conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared), and such ESA (i) did not identify the existence of recognized environmental conditions (as such term is defined in ASTM E1527-05 or its successor, hereinafter “Environmental Condition”) at the related Mortgaged Property or the need for further investigation, or (ii) if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then at least one of the following statements is true:  (A) an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; (B) if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that can reasonably be expected to mitigate the identified risk; (C) the Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action is required); (D) an environmental policy or a lender’s pollution legal liability insurance policy that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Moody’s Investor Services, Inc., S&P Global Ratings, Fitch Ratings, Inc. and/or A.M. Best Company; (E) a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor having financial resources reasonably 	41a	Review the Diligence File to determine if an ESA (as defined in representation and warranty 41) is included. If so, review the ESA for an indication that it was conducted within 12 months prior to the origination date of the Mortgage Loan. If such an indication is found, it will be a Test pass.	Diligence File; ESA
	41b	Review the ESA for an indication that it identified (i) the existence of a recognized environmental condition at the related Mortgaged Property or (ii) the need for further investigation. If no such indication is found, it will be a Test pass.	ESA
	41c	Review the ESA for an indication that it identified (i) the existence of a recognized environmental condition at the related Mortgaged Property or (ii) the need for further investigation. If such an indication is found, the following test procedures (subparts 41c-1 through 41c-6) will be performed. If any of the subparts indications are found, it will be a Test pass.	ESA; Escrow Statements; Loan Documents; Diligence File
	 	1.    Review escrow statements for an indication that an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable environmental laws or the environmental condition has been escrowed by the Mortgagor and is held by the related Mortgagee.	Escrow statements
	 	2.  Review the ESA for an indication that if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air or lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, and if so, a review of the Loan Documents indicates that an operations or maintenance plan has been required to be instituted by the related Mortgagor that, based on the ESA, can reasonably be expected to mitigate the identified risk.	ESA
	 	3.  Review the Diligence File for an indication that any Environmental Condition identified in the ESA was remediated or abated in all material respects prior to the Cut-off Date, as evidenced by a no further action or closure letter that was obtained from the applicable governmental regulatory authority, or a reputable environmental consultant has concluded that no further action is required.	Diligence File

 

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	Representations and Warranties	Test	Review Materials
	estimated to be adequate to address the situation is required to take action.  To the Mortgage Loan Seller’s knowledge, except as set forth in the ESA, there is no Environmental Condition (as such term is defined in ASTM E1527-05 or its successor) at the related Mortgaged Property.	 	4.  Review the insurance coverage review documents for an indication that an environmental policy or a lender’s pollution legal liability insurance policy that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than A- (or the equivalent) by Moody’s,  Investor Services, Inc., S&P Global Ratings, Fitch Ratings, Inc. and/or A.M. Best Company.	Insurance coverage review documents
	 	5.  Review the Diligence File for an indication that a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources considered by the Mortgage Loan Seller to be adequate to address the situation.	Diligence File
	 	6. Review the Diligence File for an indication that a party related to the Mortgagor having financial resources estimated by the Mortgage Loan Seller to be adequate to address the situation is required to take action.	Diligence File
	41d	Review the MS Servicer Notices for notation of the Mortgage Loan Seller’s knowledge of any environmental condition at the Mortgaged Property other than any set forth in the ESA. If no such notation is found, it will be a Test pass.	MS Servicer Notices; ESA
	42. Appraisal. The Mortgage File contains an appraisal of the related Mortgaged Property with an appraisal date within 6 months of the Mortgage Loan origination date, and within 12 months of the Cut-off Date.  The appraisal is signed by an appraiser that (i) is a Member of the Appraisal Institute, and (ii) to the Mortgage Loan Seller’s knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan.  Each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraisal contains a statement or is accomplished by a letter from the appraiser, to the effect that the appraisal was performed in accordance with the requirement of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage Loan was originated.	42a	Review the appraisal to determine if it was dated within 6 months of the Mortgage Loan origination date and within 12 month of the Cut-off Date. If so determined, it will be a Test pass.	Appraisal
	42b	Review the appraisal to determine if it includes an appraiser’s certification or supplemental letter that indicates that the appraiser had no interest, direct or indirect, in the Mortgagor, the Mortgaged Property or any loan made on the security of the Mortgaged Property. If so determined, it will be a Test pass.	Appraisal
	42c	Review the appraisal to determine if it signed by an appraiser that is a Member of the Appraisal Institute, that the Mortgage Loan Seller had knowledge that the signing appraiser had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and that the appraiser’s compensation is not affected by the approval or disapproval of the Mortgage Loan. If so determined, it will be a Test pass.	Appraisal
	42d	Review the appraisal to determine if it includes documentation in the appraisal or a letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal 	Appraisal

 

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	Representations and Warranties	Test	Review Materials
	 	 	Standards Board of the Appraisal Foundation. If so determined, it will be a Test pass.	 
	42e	Review the appraisal or a letter from the appraiser for a statement that the appraisal was performed in accordance with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage Loan was originated. If so determined, it will be a Test pass. 	Appraisal 
	43. Mortgage Loan Schedule. The information pertaining to each Mortgage Loan which is set forth in the Mortgage Loan Schedule attached as an exhibit to the related Mortgage Loan Purchase Agreement is true and correct in all material respects as of the Cut-off Date and contains all information required by the Pooling and Servicing Agreement to be contained therein.	43a	Review the Mortgage Loan Schedule attached as an exhibit to the related Mortgage Loan Purchase Agreement and compare it to the corresponding information in (i) Annex A to the final prospectus (ii) Mortgage Loan Documents, (iii) Pooling and Servicing Agreement, and (iv) asset summary report to determine if there are discrepancies between the documents.  If there are no such discrepancies, it will be a Test pass.	Mortgage Loan Schedule; Annex A to final prospectus; Mortgage Loan Documents; Pooling and Servicing Agreement; Asset summary report
	43b	Compare the information in the Mortgage Loan Schedule to the requirements of the Pooling and Servicing Agreement to determine if they match. If there are no discrepancies, it will be a Test pass.	Mortgage Loan Schedule; Pooling and Servicing Agreement
	44. Cross-Collateralization. No Mortgage Loan is cross-collateralized or cross-defaulted with any other mortgage loan that is outside the Mortgage Pool, except in the case of a Mortgage Loan that is part of a Whole Loan.	44	Except with respect to a Mortgage Loan that is part of a Whole Loan, review the Mortgage Loan Documents to determine if the Mortgage Loan is cross-collateralized or cross-defaulted with any other Mortgage Loan that is outside the Mortgage Pool. If not so determined, it will be a Test pass.	Mortgage Loan Documents
	45. Advance of Funds by the Mortgage Loan Seller. Except for loan proceeds advanced at the time of loan origination or other payments contemplated by the Mortgage Loan documents, no advance of funds has been made by the Mortgage Loan Seller to the related Mortgagor, and no funds have been received from any person other than the related Mortgagor or an affiliate, directly, or, to the knowledge of the Mortgage Loan Seller, indirectly for, or on account of, payments due on the Mortgage Loan.  Neither the Mortgage Loan Seller nor any affiliate thereof has any obligation to make any capital contribution to any Mortgagor under a Mortgage Loan, other than contributions made on or prior to the date hereof.	45a	Review the MS Servicer Notices for a notation or other indication that an advancement of funds (other than loan proceeds advanced at the time of loan origination) had been made by the Mortgage Loan Seller to the related Mortgagor, or that funds have been received from any person other than the related Mortgagor or an Affiliate, directly, indirectly for, or on account of, payments due on the Mortgage Loan. If such a notation or other indication is not found, it will be a Test pass.	MS Servicer Notices
	45b	Review the Mortgage Loan Documents to determine if the Mortgage Loan Seller, or an Affiliate, has an obligation to make any capital contribution to the Mortgagor under a Mortgage Loan, other than contributions made on or prior to the Closing Date. If not so determined, it will be a Test pass.	Mortgage Loan Documents
	46. Compliance with Anti-Money Laundering Laws. The Mortgage Loan Seller has complied in all material respects with all applicable anti-money 	46	Review the MS Servicer Notices for a notation or other indication of any claim or assertion that the Mortgage Loan Seller did not comply with its internal procedures with 	MS Servicer Notices

 

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	Representations and Warranties	Test	Review Materials
	laundering laws and regulations, including without limitation the USA Patriot Act of 2001 with respect to the origination of the Mortgage Loan.	 	respect to all applicable anti-money laundering laws and regulations, including without limitation the USA Patriot Act of 2001 in connection with the origination of any Mortgage Loan. If such a notation or other indication is not found, it will be a Test pass.	 
	 	 	 	 

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EXHIBIT RR

FORM OF CERTIFICATION TO CERTIFICATE ADMINISTRATOR REQUESTING ACCESS TO SECURE DATA ROOM

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services - BBCMS 2019-C3

Email: trustadministrationgroup@wellsfargo.com

 

		Attention:	BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

In accordance with the
requirements for obtaining access to the Secure Data Room pursuant to the Pooling and Servicing Agreement, dated as of June 1,
2019 (the “Pooling and Servicing Agreement”), between Barclays Commercial Mortgage Securities LLC, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer and as Special Servicer, Wells Fargo Bank,
National Association, as Certificate Administrator and as Trustee, Pentalpha Surveillance LLC, as Operating Advisor and as Asset
Representations Reviewer, with respect to the certificates (the “Certificates”), the undersigned hereby certifies
and agrees as follows:

 

1.          
The undersigned is [an authorized representative of the Asset Representations Reviewer][an authorized representative of
the Depositor][a designee of the Depositor].

 

2.          
The undersigned acknowledges and agrees that (a) access to the Secure Data Room is being granted to it solely for purposes
of the undersigned carrying out its obligations under the Pooling and Servicing Agreement (b) it will not disseminate or otherwise
make information contained on the Secure Data Room available to any other person except in accordance with the Pooling and Servicing
Agreement or otherwise with the written consent of the Depositor and (c) it will only access information relating to the Mortgage
Loans to which the Asset Review relates.

 

3.          
The undersigned agrees that each time it accesses the Secure Data Room, the undersigned is deemed to have recertified that
the representations above remains true and correct.

 

4.          
[The undersigned is not a Certificateholder, a beneficial owner or a prospective purchaser of any Certificate.]1

 

 

1       Required
to the extent that a party other than the Asset Representations Reviewer is identified by the Depositor as needing access to the
Secure Data Room.

 

    RR-1

    

    

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused its name to
be signed hereto by its duly authorized signatory, as of the date certified.

 

	 	[NAME OF PARTY], as [role]
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

Dated: _______

 

	[Barclays Commercial Mortgage Securities LLC,
 as Depositor]*	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    RR-2

    

    

 

EXHIBIT SS

FORM OF NOTICE OF [ADDITIONAL DELINQUENT LOAN][CESSATION OF DELINQUENT LOAN][CESSATION OF ASSET REVIEW TRIGGER]

 

[Date]

 

	Midland Loan Services, a Division of PNC

Bank, National Association

10851 Mastin Street

Overland Park, Kansas 66210

Attention:  Executive Vice President – Division Head	
        Pentalpha Surveillance LLC

        375 N. French Road, Suite 100

        Amherst, New York 14228

        Attention: BBCMS 2019-C3 Transaction Manager

         

        with a copy sent via email to:

        notices@pentalphasurveillance.com

        with BBCMS 2019-C3 in the subject line

        

	 	 
		

		Attention:	BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

In accordance with Section 12.01(a)
of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Pooling and Servicing Agreement”), between
Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee,
and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer, the Certificate Administrator hereby
notifies you that as of [RELATED DISTRIBUTION DATE]:

 

1._____An additional Mortgage Loan
has become a Delinquent Loan.

 

2._____A Mortgage Loan has ceased
to be a Delinquent Loan.

 

3._____An Asset Review Trigger
has ceased to exist.

 

(check all that apply)

 

    SS-1

    

    

 

Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

	 	Wells Fargo Bank, National Association,
as Certificate Administrator for the Holders of the BBCMS Mortgage Trust 2019-C3, Commercial Mortgage Pass-Through Certificates,
Series 2019-C3
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

    SS-2

    

    

 

EXHIBIT TT

FORM OF CERTIFICATE ADMINISTRATOR RECEIPT IN RESPECT OF THE RISK RETENTION CERTIFICATES

 

[Date]

 

	Barclays Commercial Mortgage Securities LLC

745 Seventh Avenue 

New York, New York  10019

Attention:  Daniel Vinson	
        Barclays Capital Real Estate Inc.,

        745 Seventh Avenue

        New York, New York 10019

        Attention: Daniel Vinson

         

        KKR Real Estate Credit Opportunity Partners Aggregator I L.P.

        9 West 57th Street, Suite 4200,

        New York, New York 10019

        Fax number: (212) 750-0003

        

        [OR SUBSEQUENT TRANSFEREE]

         

        

		Re:	BBCMS Mortgage
                                         Trust 2019-C3, Commercial Mortgage Pass-Through Certificates, Series 2019-C3

 

In accordance with Section
[5.02(e)][5.03(i)] of the Pooling and Servicing Agreement, dated as of June 1, 2019 (the “Agreement”), the Certificate
Administrator, as custodian, hereby acknowledges receipt of $[_] of the Class [E-RR][F-RR][G-RR][H-RR][J-RR] Certificates in the
form of Definitive Certificates (CUSIP No. [_]) as defined in the Agreement, for the benefit of [KKR Real Estate Credit Opportunity
Partners (AIV) Aggregator I L.P.][Subsequent Transferee]. A copy of the Class [E-RR][F-RR][G-RR][H-RR][J-RR] is attached as Exhibit
A. Payments on the Class [E-RR][F-RR][G-RR][H-RR][J-RR] will be made to the registered holder thereto in accordance with the Agreement.

 

    TT-1

    

    

 

Capitalized terms used
but not defined herein shall the respective meanings set forth in the Agreement.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity

but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    TT-2

    

    

 

SCHEDULE 1

MORTGAGE LOANS WITH ADDITIONAL DEBT

 

1.          
SSTII Self Storage Portfolio II

 

2.          
Vanguard Portfolio

 

3.          
GNL Industrial Portfolio

 

4.          
SWVP Portfolio

 

5.          
Inland Devon Self Storage Portfolio

 

6.          
NEMA San Francisco

 

7.          
787 Eleventh Avenue

 

8.          
The Colonnade Office Complex

 

9.          
Wolverine Portfolio

 

10.         Kings Mountain Center

 

11.         ExchangeRight
Net Leased Portfolio 26

 

12.         Patuxent
Crossing

 

13.         The
Block Northway

 

14.         Goodyear Portfolio

 

15.        
ExchangeRight Net Leased Portfolio 24

 

16.        
Heartland Dental Medical Office Portfolio

 

17.         ILPT Hawaii Portfolio

 

18.         Southern Motion Industrial Portfolio

 

19.        
Christiana Mall

 

    Schedule 1-1

    

    

 

SCHEDULE 2

CLASS A-SB PLANNED PRINCIPAL BALANCE SCHEDULE

 

See Annex E to the Prospectus.

 

    Schedule 2-1

    

    

 

SCHEDULE 3

 

DESIGNATED ESCROWS AND RESERVES

 

	Mortgage Loan Number	Mortgage Loan Name	Applicable Escrow or Reserve (Initial Amount)
	5	Renaissance Fort Lauderdale 	East Entrance Contingency Reserve ($1,000,000) 
	21 	The Block Northway	DY Achievement Reserve ($2,200,000), Skechers Lease Achievement Reserve ($690,000), Contract Tenant Achievement Reserve ($310,000)
	40	North Attleboro Shopping Center	Holdback Reserve ($215,000)

 

    Schedule 3-1Exhibit 4.2

 

EXECUTION VERSION

	 	 	 

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES LLC

 

as Depositor,

 

KEYBANK NATIONAL ASSOCIATION,

as Servicer,

 

SITUS HOLDINGS, LLC,

as Special Servicer,

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee, Certificate
Administrator and Custodian,

 

 

TRUST AND SERVICING AGREEMENT

 

Dated as of March 29, 2019

 

 

Natixis Commercial Mortgage Securities Trust 2019-NEMA,

Commercial
Mortgage Pass-Through Certificates, Series 2019-NEMA

	 	 	 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	 	Page
	 	 	 	 
	1	 DEFINITIONS	 
	 	 	 	 
	 	1.1	Definitions	6
	 	1.2	Interpretation	61
	 	1.3	Certain
    Calculations in Respect of the Whole Loan	61
	 	 	 	 
	2	 DECLARATION OF TRUST; ORIGINAL ISSUANCE OF CERTIFICATES	 
	 	 	 	 
	 	2.1	Creation
    and Declaration of Trust; Conveyance of the Whole Loan	64
	 	2.2	Acceptance
    by the Trustee and the Custodian	68
	 	2.3	Representations
    and Warranties of the Trustee and Certificate Administrator	70
	 	2.4	[Reserved]	71
	 	2.5	Representations
    and Warranties of the Servicer	71
	 	2.6	Representations
    and Warranties of the Special Servicer. (a)  Situs Holdings, LLC, as the Special Servicer, hereby represents and
    warrants to the other parties hereto and the Companion Loan Holders that as of the Closing Date:	72
	 	2.7	Representations
    and Warranties of the Depositor	73
	 	2.8	Representations
    and Warranties Contained in the Loan Purchase Agreement	75
	 	2.9	Issuance
    of Uncertificated Lower-Tier Interests; Issuance of Regular Interests; Execution and Delivery of Certificates	76
	 	2.10	Miscellaneous
    REMIC Provisions	77
	 	2.11	Miscellaneous
    Grantor Trust Provisions	77
	 	2.12	Grantor
    Trust Reporting	77
	 	 	 	 
	3	 ADMINISTRATION AND SERVICING OF THE WHOLE LOAN	 
	 	 	 	 
	 	3.1	Servicer
    to Act as the Servicer; Special Servicer to Act as the Special Servicer	78
	 	3.2	Sub-Servicing
    Agreements	80
	 	3.3	Cash
    Management Account	82
	 	3.4	Collection
    Account, Companion Loan Account and Interest Reserve Account	82
	 	3.5	Distribution
    Account	88
	 	3.6	Foreclosed
    Property Account	89
	 	3.7	Appraisal
    Reductions	89
	 	3.8	Investment
    of Funds in the Collection Account, the Companion Loan Account and the Foreclosed Property Account	93
	 	3.9	Payment
    of Taxes, Assessments, etc	94
	 	3.10	Appointment
    of Special Servicer	95

 

    -i- 

     

    

 

	 	3.11	Maintenance
    of Insurance and Errors and Omissions and Fidelity Coverage	99
	 	3.12	Procedures
    with Respect to Defaulted Loan; Realization upon the Property	101
	 	3.13	Custodian
    to Cooperate; Release of Items in the Mortgage File	104
	 	3.14	Title
    and Management of Foreclosed Property	104
	 	3.15	Sale
    of Foreclosed Property	106
	 	3.16	Sale
    of Defaulted Loan	108
	 	3.17	Servicing
    Compensation	111
	 	3.18	Reports
    to the Certificate Administrator; Account Statements	115
	 	3.19	[Reserved]	116
	 	3.20	[Reserved]	116
	 	3.21	Access
    to Certain Documentation Regarding the Trust Loan and Other Information	116
	 	3.22	Inspections	117
	 	3.23	Advances	117
	 	3.24	Modifications
    of Loan Documents	121
	 	3.25	Servicer
    and Special Servicer May Own Certificates	123
	 	3.26	Reserved	124
	 	3.27	Rating
    Agency Confirmation	124
	 	3.28	Certain
    Co-Lender Matters Relating to the Whole Loan	125
	 	3.29	Additional
    Matters with Respect to the Whole Loan	127
	 	 	 	 
	4	 PAYMENTS AND STATEMENTS TO CERTIFICATEHOLDERS	 
	 	 	 	 
	 	4.1	Distributions	131
	 	4.2	Withholding
    Tax	139
	 	4.3	Allocation
    and Distribution of Yield Maintenance Premiums	139
	 	4.4	Statements
    to Certificateholders	141
	 	4.5	Investor
    Q&A Forum; Investor Registry and Rating Agency Q&A Forum	144
	 	 	 	 
	5	 THE CERTIFICATES	 
	 	 	 	 
	 	5.1	The
    Certificates	147
	 	5.2	Form
    and Registration	148
	 	5.3	Registration
    of Transfer and Exchange of Certificates	149
	 	5.4	Mutilated,
    Destroyed, Lost or Stolen Certificates	156
	 	5.5	Persons
    Deemed Owners	156
	 	5.6	Access
    to List of Certificateholders’ Names and Addresses; Special Notices	157
	 	5.7	Maintenance
    of Office or Agency	157
	 	5.8	Exchanges
    of Exchangeable Groups of Certificates	158
	 	 	 	 
	6	 THE DEPOSITOR, THE SERVICER AND THE SPECIAL SERVICER	 
	 	 	 	 
	 	6.1	Respective
    Liabilities of the Depositor, the Servicer and the Special Servicer	160
	 	6.2	Merger
    or Consolidation of the Servicer or the Special Servicer	160

 

    -ii- 

     

    

 

	 	6.3	Limitation
    on Liability of the Depositor, the Servicer, the Special Servicer and Others	161
	 	6.4	Servicer
    and Special Servicer Not to Resign; Replacement of Servicer or Special Servicer	162
	 	6.5	Ethical
    Wall	163
	 	6.6	Indemnification
    by the Servicer, the Special Servicer and the Depositor	163
	 	 	 	 
	7	 SERVICER TERMINATION EVENTS; TERMINATION OF SPECIAL SERVICER WITHOUT CAUSE	 
	 	 	 	 
	 	7.1	Servicer
    Termination Events; Special Servicer Termination Events	164
	 	7.2	Trustee
    to Act; Appointment of Successor	170
	 	7.3	[Reserved.]	172
	 	7.4	Other
    Remedies of Trustee	172
	 	7.5	Waiver
    of Past Servicer Termination Events and Special Servicer Termination Events	173
	 	7.6	Trustee
    as Maker of Advances	173
	 	 	 	 
	8	 THE TRUSTEE AND CERTIFICATE ADMINISTRATOR	 
	 	 	 	 
	 	8.1	Duties
    of the Trustee and the Certificate Administrator	174
	 	8.2	Certain
    Matters Affecting the Trustee and the Certificate Administrator	176
	 	8.3	Neither
    the Trustee nor the Certificate Administrator is Liable for Certificates or the Trust Loan	179
	 	8.4	Trustee
    and Certificate Administrator May Own Certificates	181
	 	8.5	Trustee’s
    and Certificate Administrator’s Fees and Expenses	181
	 	8.6	Eligibility
    Requirements for the Trustee and the Certificate Administrator; Errors and Omissions Insurance	181
	 	8.7	Resignation
    and Removal of the Trustee or the Certificate Administrator	183
	 	8.8	Successor
    Trustee or Successor Certificate Administrator	184
	 	8.9	Merger
    or Consolidation of the Trustee or the Certificate Administrator	185
	 	8.10	Appointment
    of Co-Trustee or Separate Trustee	185
	 	8.11	Appointment
    of Authenticating Agent	187
	 	8.12	Indemnification
    by Trustee and the Certificate Administrator	188
	 	8.13	Certificate
    Administrator and Servicer Not Responsible for Inconsistent Payment Information	188
	 	8.14	Access
    to Certain Information	188
	 	 	 	 
	9	 CERTAIN MATTERS RELATING TO THE DIRECTING HOLDER AND RISK RETENTION CONSULTATION PARTY	 
	 	 	 	 
	 	9.1	Selection
    and Removal of the Directing Holder and Risk Retention Consultation Party	197
	 	9.2	Limitation
    on Liability of Directing Holder and Risk Retention Consultation Party; Acknowledgements of the Certificateholders	200
	 	9.3	Rights
    and Powers of the Directing Holder, the Risk Retention Consultation Party and the Subordinate Note Holders	200

 

    -iii- 

     

    

 

	 	9.4	Directing
    Holder Contact with Servicer and Special Servicer	202
	 	 	 	 
	10	 TERMINATION	 
	 	 	 	 
	 	10.1	Termination	203
	 	10.2	Additional
    Termination Requirements	204
	 	10.3	Trusts
    Irrevocable	204
	 	 	 	 
	11	 MISCELLANEOUS PROVISIONS	 
	 	 	 	 
	 	11.1	Amendment	204
	 	11.2	Recordation
    of Agreement; Counterparts	207
	 	11.3	Governing
    Law; Submission to Jurisdiction; Waiver of Trial by Jury	208
	 	11.4	Notices	208
	 	11.5	Notices
    to the Rating Agencies	212
	 	11.6	Severability
    of Provisions	213
	 	11.7	Limitation
    on Rights of Certificateholders	213
	 	11.8	Certificates
    Nonassessable and Fully Paid	214
	 	11.9	Reproduction
    of Documents	214
	 	11.10	No
    Partnership	215
	 	11.11	Actions
    of Certificateholders	215
	 	11.12	Successors
    and Assigns	215
	 	11.13	Acceptance
    by Authenticating Agent, Certificate Registrar and Custodian	216
	 	11.14	Streit
    Act	216
	 	11.15	Assumption
    by Trust of Duties and Obligations of the Lender Under the Loan Documents	216
	 	 	 	 
	12	 REMIC ADMINISTRATION	 
	 	 	 	 
	 	12.1	REMIC
    Administration	216
	 	12.2	Foreclosed
    Property	220
	 	12.3	Prohibited
    Transactions and Activities	222
	 	12.4	Indemnification
    with Respect to Certain Taxes and Loss of REMIC Status	222
	 	 	 	 
	13	 EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE	 
	 	 	 	 
	 	13.1	Intent
    of the Parties; Reasonableness	223
	 	13.2	Succession;
    Sub-Servicers; Subcontractors	224
	 	13.3	Senior
    Companion Loan Securitization Trust’s Filing Obligations	225
	 	13.4	Form
    10-D Disclosure	226
	 	13.5	Form
    10-K Disclosure	226
	 	13.6	Form
    8-K Disclosure	227
	 	13.7	Annual
    Compliance Statements	227
	 	13.8	Annual
    Reports on Assessment of Compliance with Servicing Criteria	228
	 	13.9	Annual
    Independent Public Accountants’ Servicing Report	230
	 	13.10	Significant
    Obligor	231
	 	13.11	Sarbanes-Oxley
    Backup Certification	231
	 	13.12	Indemnification	232

 

    -iv- 

     

    

 

	 	13.13	Amendments	233
	 	13.14	Termination
    of the Certificate Administrator	233
	 	13.15	Termination
    of Sub-Servicing Agreements	233
	 	13.16	Notification
    Requirements and Deliveries in Connection with Securitization of a Companion Loan	233

 

EXHIBITS

 

	Exhibit A-1	Form of Class A Certificates
	 	 
	Exhibit A-2	Form of Class B Certificates
	 	 
	Exhibit A-3	Form of Class C Certificates
	 	 
	Exhibit A-4	Form of Class D Certificates
	 	 
	Exhibit A-5	Form of Class X Certificates
	 	 
	Exhibit A-6	Form of Class R Certificates
	 	 
	Exhibit A-7	Form of Class V-ABC Certificates
	 	 
	Exhibit A-8	Form of Class V-D Certificates
	 	 
	Exhibit A-9	Form of Class V2 Certificates
	 	 
	Exhibit B	Form of Request for Release
	 	 
	Exhibit C	Form of Transfer Certificate for Rule 144A Global Certificate to Temporary Regulation S Global Certificate
	 	 
	Exhibit D	Form of Transfer Certificate for Rule 144A Global Certificate to Regulation S Global Certificate
	 	 
	Exhibit E	Form of Transfer Certificate for Temporary Regulation S Global Certificate to Rule 144A Global Certificate during Restricted Period
	 	 
	Exhibit F	Form of Certification to be given by Beneficial Owner of Temporary Regulation S Global Certificate
	 	 
	Exhibit G	Form of Transfer Certificate for Non-Book Entry Certificate to Temporary Regulation S Global Certificate
	 	 
	Exhibit H	Form of Transfer Certificate for Non-Book Entry Certificate to Regulation S Global Certificate
	 	 
	Exhibit I	Form of Transfer Certificate for Non-Book Entry Certificate to Rule 144A Global Certificate
	 	 
	Exhibit J-1	Form of Investor Certification for Non-Borrower Affiliates
	 	 
	Exhibit J-2	Form of Investor Certification for Borrower Affiliates
	 	 
	Exhibit J-3	Online Market Data Provider Certification

 

    -v- 

     

    

 

	Exhibit K	Applicable Servicing Criteria
	 	 
	Exhibit L	Form of Certification for NRSROs
	 	 
	Exhibit M-1	Form of Transferee Affidavit
	 	 
	Exhibit M-2	Form of Transferor Letter
	 	 
	Exhibit M-3	Form of ERISA Representation Letter
	 	 
	Exhibit M-4	Form of Transferee Certificate for Transfers of RR Interest
	 	 
	Exhibit M-5	Form of Transferor Certificate for Transfers of RR Interest
	 	 
	Exhibit M-6	Form of Transferor Certificate for Transfer of the Excess Servicing Fee Rights
	 	 
	Exhibit M-7	Form of Transferee Certificate for Transfer of the Excess Servicing Fee Rights
	 	 
	Exhibit N	Form of Custodial Certificate
	 	 
	Exhibit O	Form of Custodial Certificate
	 	 
	Exhibit P	[Reserved]
	 	 
	Exhibit Q	Form of Power of Attorney by Trustee for Servicer and Special Servicer
	 	 
	Exhibit R	Form of Notice of Exchange of Exchangeable Groups of Certificates
	 	 
	Exhibit S	Additional Form 10-D Disclosure
	 	 
	Exhibit T	Additional Form 10-K Disclosure
	 	 
	Exhibit U	Form 8-K Disclosure Information
	 	 
	Exhibit V	Additional Disclosure Notification
	 	 
	Exhibit W	Initial Sub-Servicers
	 	 
	Exhibit X-1	Form of Certification to be Provided to Depositor by Servicer
	 	 
	Exhibit X-2	Form of Certification to be Provided to Depositor by Special Servicer
	 	 
	Exhibit X-3	Form of Certification to be Provided to Depositor by Certificate Administrator
	 	 
	Exhibit X-4	Form of Certification to be Provided to Depositor by Trustee

 

    -vi- 

     

    

 

THIS TRUST AND SERVICING
AGREEMENT (“Agreement”) is dated as of March 29, 2019 among Natixis Commercial Mortgage Securities LLC, as Depositor,
KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association,
as Trustee and Certificate Administrator.

 

INTRODUCTORY STATEMENT

 

Terms not defined in
this Introductory Statement shall have the meanings specified in Article 1 hereof.

 

Reference is made to
that certain 10 year fixed-rate loan (the “Whole Loan”) originated by Natixis Real Estate Capital LLC (“NREC”),
pursuant to that certain Loan Agreement, dated as of February 8, 2019 (the “Loan Agreement”), by and between
the NREC and Tenth and Market, LLC (the “Borrower”). As of the Closing Date, the outstanding principal balance
of the Whole Loan is $384,000,000.00. The Whole Loan is evidenced by the following eight promissory notes:

 

(i)               
the Promissory Note A-1 in the original principal amount of $130,000,000 (as amended, modified or supplemented, “Note
A-1”);

 

(ii)               the
Promissory Note A-2 in the original principal amount of $25,000,000 (as amended, modified or supplemented, “Note A-2”);

 

(iii)             the
Promissory Note A-3 in the original principal amount of $25,000,000 (as amended, modified or supplemented, “Note A-3”);

 

(iv)             the
Promissory Note A-4 in the original principal amount of $10,000,000 (as amended, modified or supplemented, “Note A-4”);

 

(v)              the
Promissory Note A-5 in the original principal amount of $15,000,000 (as amended, modified or supplemented, “Note A-5”,
together with Note A-1, Note A-2, Note A-3 and Note A-4, the “Senior Notes”);

 

(vi)             the
Promissory Note A-B in the original principal amount of $69,000,000 (as amended, modified or supplemented, “Note A-B”);

 

(vii)           the
Promissory Note B-1 in the original principal amount of $60,000,000 (as amended, modified or supplemented, “Note B-1”);
and

 

(viii)          the
Promissory Note B-2 in the original principal amount of $50,000,000 (as amended, modified or supplemented, “Note B-2”).

 

Note A-1 is referred
to herein as the “Trust A Note”. Note A-B is referred to herein as the “Trust A-B Note”.
Note A-2, Note A-3, Note A-4 and Note A-5 are collectively referred to herein as the “Non-Trust A Notes”. The
Trust A Note and the Non-Trust A Notes are referred to herein as the “A Notes”. The Trust A Note and the Trust
A-B Note are referred to herein as the “Trust Notes”. Note B-1 and Note B-2 are referred to herein as the “Non-Trust
B

 

    

    

    

 

Notes”. The Non-Trust A Notes and the Non-Trust B Notes are referred to herein as the “Companion Notes”.

 

The portion of the Whole
Loan evidenced by the Trust Notes, referred to herein as the “Trust Loan”, have an aggregate principal balance
as of the Cut-off Date of $199,000,000.00. The portions of the Whole Loan evidenced by Note A-2, Note A-3, Note A-4 and Note A-5,
collectively referred to as the “Senior Companion Loans”, having an aggregate principal balance as of the Cut-off
Date of $75,000,000.00. The portion of the Whole Loan evidenced by Note B-1 and Note B-2, referred to herein as the “Junior
Companion Loans”, have an aggregate principal balance as of the Cut-off Date of $110,000,000.00. The Senior Companion
Loans and the Junior Companion Loans are collectively referred to as the “Companion Loans”. The Trust Notes,
the Non-Trust A Notes and the Non-Trust B Notes are collectively referred to herein as the “Notes” and, each,
as a “Note”.

 

The Trust Loan was sold
and assigned by the Loan Seller to the Depositor pursuant to a loan purchase agreement, dated as of the date hereof, by and between
the Loan Seller and the Depositor (the “Loan Purchase Agreement”). The Companion Loans will not be assets of
the Trust.

 

The Trust Loan and the
Companion Loans are subject to the terms and conditions of the Co-Lender Agreement, dated as of March 27, 2019, between NREC, as
holder of the Trust Notes, and NREC, as holder of the Companion Notes (the “Co-Lender Agreement”).

 

As provided for herein,
the Certificate Administrator shall elect or shall cause elections to be made to treat designated portions of the Trust Fund for
federal income tax purposes as two separate real estate mortgage investment conduits (the “Upper-Tier REMIC”
and the “Lower-Tier REMIC” and, each, a “Trust REMIC”). The Class A, Class X, Class B, Class
C and Class D Regular Interests will represent “regular interests” in the Upper-Tier REMIC. The Class LA, Class LB,
Class LC and Class LD Uncertificated Interests will represent “regular interests” in the Lower-Tier REMIC. The
Class R Certificates will evidence the sole Class of “residual interests” in each of the Upper-Tier REMIC and
Lower-Tier REMIC for purposes of the REMIC Provisions under federal income tax law.

 

The portions of the Trust
Fund consisting of the Specific Grantor Trust Assets shall be treated as a grantor trust under subpart E, part I of subchapter J
of the Code (the “Grantor Trust”) for federal income tax purposes. Each Class of Certificates (other than the
Class R Certificates) shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of the
Specific Grantor Trust Assets with the corresponding alphabetic or alphanumeric designation.

 

In exchange for the Trust
Loan and the Uncertificated Lower-Tier Interests, the Trust will issue to the Depositor the Class A, Class X, Class B, Class C,
Class D and Class R Certificates (collectively, the “Certificates”), which Certificates in the aggregate
will evidence the entire beneficial interest in the Trust Fund. The Trust Fund consists principally of the Note, the Mortgage and
the Loan Documents.

 

     -2-

     

    

 

The Depositor intends
to sell the Certificates in an offering exempt from the registration requirements of the federal securities laws.

 

UPPER-TIER REMIC

 

The Regular Interests
will evidence “regular interests” in the Upper-Tier REMIC created hereunder. The Class UT-R Interest will constitute
the sole Class of “residual interests” in the Upper-Tier REMIC created hereunder, and will be evidenced by the Class R
Certificates.

 

LOWER-TIER REMIC

 

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

 

	Class

                                         Designation

        
	 	Pass-Through
                                         Rate

        
	 	Original
                                         Lower-Tier

                                         Principal Amount

        

	Class
    LA	 	3.8214%	 	$93,910,000
	Class
    LB	 	3.9726%	 	$24,290,000
	Class
    LC	 	4.1740%	 	$18,400,000
	Class
    LD	 	(1)	 	$62,400,000
	Class
    LT-R	 	None(2)	 	None(2)

 

 

 

		(1)	The
                                         Pass-Through Rate for each Certificate Interest Accrual Period for the Class LD Uncertificated
                                         Interests will be the Net Mortgage Rate.

 

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

 

All covenants and agreements
made by the Depositor herein are for the benefit and security of the Certificateholders and the Trustee as Holder of the Regular
Interests and the Uncertificated Lower-Tier Interests. The Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee are entering into this Agreement, and the Trustee is accepting the trusts created hereby, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged.

 

THE GRANTOR TRUST

 

The Certificates (other
than the Class R Certificates) shall represent undivided beneficial interests in the related portions of the Grantor Trust as described
herein. As provided herein, the Certificate Administrator shall not take any actions that would cause the portion of the Trust
Fund consisting of the Grantor Trust (i) to fail to maintain its status as a “grantor trust” under federal income tax
law or (ii) to be treated as part of any Trust REMIC.

 

     -3-

     

    

 

THE CERTIFICATES

 

The following table sets
forth the Class designation and initial Certificate Balance or initial Notional Amount of each Class of Regular Interests (collectively,
the “Corresponding Regular Interests”), and the corresponding Lower-Tier Regular Interest (the “Corresponding
Lower-Tier Regular Interests”) and the corresponding Classes of Certificates (the “Corresponding Certificates”).

 

	Corresponding

                                         Regular Interests(1)

        
	 	Initial
                                         Certificate Balance or Initial Notional Amount

        
	 	Corresponding
                                         Lower-Tier Regular Interests(2)

        
	 	Initial
                                         Lower-Tier Principal Balance

        
	 	Corresponding
                                         Certificates

        

	Class
    A Regular Interest	 	$93,910,000	 	LA	 	$93,910,000	 	Class
    A

    Class V-ABC

    Class V2
	Class
    X Regular Interest	 	$136,600,000(1)	 	N/A	 	N/A	 	Class
    X

    Class V-ABC

    Class V2
	Class
    B Regular Interest	 	$24,290,000	 	LB	 	$24,290,000	 	Class
    B

    Class V-ABC

    Class V2
	Class
    C Regular Interest	 	$18,400,000	 	LC	 	$18,400,000	 	Class
    C

    Class V-ABC

    Class V2
	Class
    D Regular Interest	 	$62,400,000	 	LD	 	$62,400,000	 	Class
    D

    Class V-D

    Class V2

 

 

		(1)	Notional
                                         Amount.

 

		(2)	The
                                         Lower-Tier Regular Interest that corresponds to any particular Class of Regular Interest
                                         and any particular Class of Certificates also correspond to each other and, accordingly,
                                         constitute the (i) Corresponding Lower-Tier Regular Interest, (ii) Corresponding
                                         Regular Interest and (iii) Corresponding Certificates, respectively, with respect to
                                         each other.

 

The following table sets
forth the class designation, the pass-through rate (the “Pass-Through Rate”) and the aggregate initial Certificate
Balance (the “Initial Certificate Balance”) or aggregate initial Notional Amount (the “Initial Notional
Amount”), as applicable, for each Class of Certificates:

 

	Class

                                         Designation

        
	 	Pass-Through
                                         Rate

        

        (per
        annum)

        

	 	 

                                                           Initial

                                         Certificate Balance or
 Initial Notional Amount(1)

	 	

Initial
                                         Maximum

Balance(2)

	Class
    A	 	3.8214%	 	 	$93,910,000	 	 	$  
     93,910,000	 
	Class
    X	 	0.6605%(3)	 	 	$136,600,000(3)	 	 	$ 136,600,000	(4)
	Class
    B	 	3.9726%	 	 	$24,290,000	 	 	$  
     24,290,000	 
	Class
    C	 	4.1740%	 	 	$18,400,000	 	 	$  
     18,400,000	 
	Class
    D	 	4.5563%(5)	 	 	$62,400,000	 	 	$  
     62,400,000	
	Class
    V-ABC	 	N/A	 	 	$0	 	 	$ 136,600,000	 
	Class
    V-D	 	N/A	 	 	$0	 	 	$  
     62,400,000	 
	Class
    V2	 	N/A	 	 	$0	 	 	$ 199,000,000	 

 

 

		(1)	The
Initial Certificate Balance and the Initial Notional Amount, as applicable, of each Class of Certificates will be subject to re-designation
as between such Classes pursuant to Section 5.8.

 

     -4-

     

    

 

		(2)	The
                                         Initial Maximum Balance of each class of the Regular Certificates shown in the table
                                         above represents the maximum Certificate Balance or Notional Amount, as applicable, of
                                         such Class without giving effect to any issuance of Class V1 or Class V2 Certificates.
                                         The Initial Maximum Balance of the Class V-ABC, Class V-D and Class V2 Certificates shown
                                         in the table above represents the maximum principal balance of such Certificates that
                                         could be issued in an exchange pursuant to Section 5.8.

 

		(3)	The
                                         Class X Pass-Through Rate for any Certificate Interest Accrual Period is variable and,
                                         for each Distribution Date, will equal the weighted average of the Class X Strip Rates
                                         for the respective Class X Components for such Distribution Date.

 

		(4)	The
                                         Class X Certificates will not have Certificate Balances and will not be entitled
                                         to receive distributions of principal. Interest will accrue on such Class at the applicable
                                         Pass-Through Rate thereof on the applicable Notional Amount thereof. The Class X Notional
                                         Amount for any Distribution Date will be equal to the sum of the Notional Amounts of
                                         all of the Class X Components.

 

		(5)	The
                                         Class D Pass-Through Rate is equal to the Net Mortgage Rate.

 

Pursuant to the Underwriting
Agreement and the Certificate Purchase Agreement, NREC is purchasing from the Underwriters or the Initial Purchasers, as the case
may be, the respective portions of the Certificate Balance, the Notional Amount or Percentage Interest, as applicable, of each
Class of Certificates set forth below:

 

	Class
                                         of Certificates(1)
	 	Certificate Balance or Notional
	 	Amount

	Class
    A 	 	$     4,695,500
	Class
    X 	 	$     6,830,000
	Class
    B 	 	$     1,214,500
	Class
    C 	 	$        920,000
	Class
    D 	 	$     3,120,000

                                                                                

 

		(1)	The
                                         Certificates that NREC is purchasing pursuant to the Certificate Purchase Agreement,
                                         as such Certificates may be exchanged pursuant to Section 5.8, are referred to
                                         in this Agreement collectively as the “RR Interest”.

 

     -5-

     

    

 

W I T N E S S E T H T H A T:

 

In consideration of the
mutual agreements herein contained, the parties hereto agree as follows:

 

1.                 
DEFINITIONS

 

1.1.              Definitions. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires,
shall have the following meanings and such meanings shall be equally applicable to the singular and plural forms of such terms,
as the context may require.

 

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

 

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

 

“30/360 Basis”:
The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.

 

“A Notes”:
As defined in the Introductory Statement.

 

“Acceptable
Insurance Default”: Any default arising when the Loan Documents require that the Borrower must maintain all risk casualty
insurance or other insurance that covers damages or losses arising from acts of terrorism and the Special Servicer has determined,
in its reasonable judgment in accordance with the Accepted Servicing Practices, that (i) such insurance is not available at commercially
reasonable rates and the subject hazards are not commonly insured against by prudent owners of similar real properties located
in or near the geographic region in which the Property is located (but only by reference to such insurance that has been obtained
by such owners at current market rates), or (ii) such insurance is not available at any rate. The Special Servicer may hire an
insurance consultant (at the expense of the Trust Fund) and shall be entitled to rely on such insurance consultant in making the
determinations described in this definition.

 

“Accepted Servicing
Practices”: As defined in Section 3.1.

 

“Acquisition
Date”: The date upon which, under the Code (and in particular the REMIC Provisions and Section 856(e) of the Code),
the Trust Fund is deemed to have acquired the Property.

 

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

 

     -6-

     

    

 

“Actual/360
Basis”: The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month
(or other applicable accrual period) in a year assumed to consist of 360 days.

 

“Additional
Servicer”: Each Affiliate of the Servicer or the Special Servicer (other than the Certificate Administrator) that Services
the Whole Loan and each Person who is not an Affiliate of the Servicer or the Special Servicer, who Services the Whole Loan as
of any date of determination.

 

“Additional
Servicing Compensation”: As defined in Section 3.17.

 

“Additional
Special Servicing Compensation”: As defined in Section 3.17.

 

“Administrative
Advances”: As defined in Section 3.23(b).

 

“Advance”:
Any Administrative Advance, Monthly Payment Advance or any Property Protection Advance.

 

“Advance Rate”:
As defined in Section 3.23(d).

 

“Adverse REMIC
Event”: As defined in Section 12.1(j).

 

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

 

“Agreement”:
This Trust and Servicing Agreement (including all exhibits hereto) and all amendments and supplements hereto.

 

“Applicable
Laws”: As defined in Section 8.2(d).

 

“Applicable
Servicing Criteria”: With respect to the Servicer, the Special Servicer or any Servicing Function Participant, the Servicing
Criteria applicable to it, as set forth on Exhibit K attached hereto. For clarification purposes, multiple parties
can have responsibility for the same Applicable Servicing Criteria and with respect to a Servicing Function Participant engaged
by the Servicer or the Special Servicer, the term “Applicable Servicing Criteria” may refer to a portion of
the Applicable Servicing Criteria applicable to the Servicer or the Special Servicer, as the case may be.

 

     -7-

     

    

 

“Applied Realized
Loss Amount”: All amounts applied to reduce the Certificate Balance of a Class of Certificates in respect of Realized
Losses pursuant to Section 4.1(g).

 

“Appraisal”:
With respect to the Property or Foreclosed Property, an appraisal of such Property or Foreclosed Property, conducted by an Independent
Appraiser in accordance with the standards of the Appraisal Institute by an Independent Appraiser and certified by such Independent
Appraiser as having been prepared in accordance with the requirements of the Standards of Professional Practice of the Appraisal
Institute with an “MAI” designation and the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation,
as well as the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended; provided that after an initial
“Appraisal” has been obtained pursuant to the terms of this Agreement, an update of such initial Appraisal shall be
considered an “Appraisal” hereunder for all purposes. All Appraisals (and updates thereof) obtained pursuant to the
terms of this Agreement shall include a valuation using the “income capitalization – discounted cash flow approach”
and set forth the discount rate and terminal capitalization rate utilized by the Independent Appraiser. All calculations under
this Agreement requiring that a “value” or “appraised value” be used with respect to the Property or Foreclosed
Property (as applicable) shall use the most recently determined appraised value set forth in an Appraisal (or update thereof) unless
a different valuation is specifically required (such as the appraised value of the Property at origination). With respect to any
Appraisal Reduction Amount calculated for purposes of determining an Appraisal Reduction Event, the appraised value (as determined
by an updated Appraisal obtained pursuant to Section 3.7) of the Property will be determined on an “as-is” basis.

 

“Appraisal Reduction
Amount”: As to the Whole Loan and as of any date of determination, an amount equal to the excess of (i) the outstanding
principal balance of the Whole Loan on such date plus the sum of (A) to the extent not previously advanced by the Servicer
or the Trustee or the Other Servicer or Other Trustee, all accrued and unpaid interest on the Whole Loan at the Note Rate, (B) all
unreimbursed Administrative Advances, Property Protection Advances and interest on all Advances (including interest on Senior Companion
Loan Advances) at the Advance Rate in respect of the Whole Loan or the Property, (C) the amount of any Advances and Senior
Companion Loan Advances and interest on such Advances and Senior Companion Loan Advances previously reimbursed from principal collections
on the Whole Loan that have not otherwise been recovered from the Borrower, (D) all currently due and unpaid real estate taxes
and assessments and insurance premiums and all other amounts, including, if applicable, ground rents or leasehold rents, due and
unpaid in respect of the Property (which taxes, premiums and other amounts have not been the subject of an Advance) and (E) to
the extent not duplicative of amounts in clauses (B), (C) or (D), all unpaid Trust Fund Expenses then due hereunder over (ii)
the sum of (A) 90% of the appraised value (as determined by an updated Appraisal) of the Property less the amount of any liens
(exclusive of Permitted Encumbrances) on the Property senior to the lien of the Loan Documents plus (B) any escrows with respect
to the Whole Loan, including for taxes and insurance premiums and ground rents and leasehold rents. The Trust Loan and the Companion
Loans shall be treated as a single mortgage loan for purposes of calculating the Appraisal Reduction Amount. Any Appraisal Reduction
Amount with respect to the Whole Loan will be allocated first, to Note B-2, up to the full outstanding principal balance
thereof, then, to Note B-1, up to the full outstanding principal balance thereof, then, to the Trust A-B Note, up
to the full outstanding principal balance thereof and then, to the A Notes, on a pari passu basis, up to the full
outstanding principal balance thereof.

 

     -8-

     

    

 

“Appraisal Reduction
Event”: With respect to the Whole Loan, the earliest of (i) 60 days after an uncured payment delinquency (other
than a delinquency in respect of the Balloon Payment) occurs in respect of the Whole Loan, (ii) 90 days after an uncured delinquency
occurs in respect of the Balloon Payment for the Whole Loan unless a refinancing is anticipated within 120 days after the Maturity
Date of the Whole Loan (as evidenced by a written refinancing commitment from an acceptable lender and reasonably satisfactory
in form and substance to the Servicer which provides that such refinancing will occur within 120 days after the Maturity Date),
in which case 120 days after such uncured delinquency, (iii) 60 days after a reduction in Monthly Payments, (iv) 60 days
after an extension of the Maturity Date of the Whole Loan (except for an extension within the time periods described in clause (ii)
above), (v) immediately after a receiver has been appointed in respect of the Property on behalf of the Trust and the Companion
Loan Holders or any other creditor, (vi) immediately after the Borrower declares, or becomes the subject of, bankruptcy, insolvency
or similar proceedings, admits in writing the inability to pay its debts as they become due or makes an assignment for the benefit
of creditors, or (vii) immediately after the Property becomes a Foreclosed Property; provided that with respect to the Appraisal
Reduction Event described in clause (i), to the extent that (x) the Borrower becomes current on its payment obligations
with respect to the Notes (including payment in full of (A) all accrued and unpaid interest on the Notes (including accrued and
unpaid Default Interest, if any, thereon) and (B) all Advances made by the Servicer and/or the Trustee and interest thereon)
and remain current for a period of twelve consecutive months and (y) an updated Appraisal shows that no Appraisal Reduction
Amount exists, such Appraisal Reduction Event shall cease to exist.

 

“Appraised-Out
Class”: As defined in Section 3.7(e).

 

“Asset Status
Report”: As defined in Section 3.10(h).

 

“Assignment
of Leases”: With respect to the Whole Loan, the assignment of leases, rents and profits or similar document or instrument
executed by the loan parties in connection with the origination of the Whole Loan, as such assignment may be amended, modified,
renewed or extended through the date hereof and from time to time hereafter.

 

“Assignment
of Mortgage”: An assignment of the Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, which is sufficient under the laws of the jurisdiction in which the Property is located to reflect of record the assignment
of the Mortgage to the Trustee on behalf of the Trust Fund and the Companion Loan Holders; provided, however, that
the Trustee, the Certificate Administrator, the Servicer and the Special Servicer shall not be responsible for determining whether
any such assignment is legally sufficient or in recordable form.

 

“Assumed Monthly
Payment”: With respect to the Trust Loan for any Distribution Date (including any Distribution Date following a delinquency
in the payment of the Balloon Payment or the foreclosure of the Whole Loan or acceptance by the Trustee on behalf of the Trust
and the Companion Loan Holders of a deed in lieu of foreclosure or comparable conversion of the Whole Loan), the aggregate interest
and, if any, principal due on the Trust Loan for such Distribution Date calculated with respect to any Distribution Date as an
amount deemed to be due equal to the Monthly Payment for the Trust Loan calculated by the Servicer for

 

     -9-

     

    

 

the Assumed Payment Date
(excluding the Balloon Payment and Default Interest) at the Note Rate and based on the same amortization schedule, if any, used
to determine the Monthly Debt Service Payment Amount, in each case as such terms may have been modified, and such Maturity Date
may have been extended, in connection with a bankruptcy or similar proceeding involving the Borrower or a modification, waiver
or amendment granted or agreed to by the Servicer or Special Servicer, as if the Whole Loan had not become due on the Maturity
Date.

 

“Assumed Payment
Date”: With respect to the Trust Loan for any calendar month following a delinquency in the payment of the Balloon Payment
or the foreclosure of the Whole Loan or acceptance by the Trustee on behalf of the Trust and the Companion Loan Holders of a deed
in lieu of foreclosure or comparable conversion of the Whole Loan, the date that would have been the Loan Payment Date in such
calendar month if the Maturity Date or the foreclosure of the Whole Loan or acceptance by the Trustee on behalf of the Trust and
the Companion Loan Holders of a deed in lieu of foreclosure or comparable conversion of the Whole Loan had not occurred.

 

“Authenticating
Agent”: As defined in Section 8.11(a).

 

“Available Funds”:
On each Distribution Date will be equal to (i) all amounts (other than Yield Maintenance Premiums) received in respect of the Whole
Loan during the related Collection Period (including, without limitation, any Repurchase Price amounts, Net Liquidation Proceeds,
Condemnation Proceeds, Insurance Proceeds and Net Foreclosure Proceeds received by the Servicer, but not including any Monthly
Payments due after the end of the Collection Period relating to such Distribution Date), plus (ii) all amounts advanced
in respect of interest, or, if any, principal, with respect to the Trust Loan and such Distribution Date, plus (iii) if
such Distribution Date is the Distribution Date occurring in March of each year (or February, if such Distribution Date is the
final Distribution Date), Withheld Amounts to be withdrawn from the Interest Reserve Account for such Distribution Date, minus
(iv) an amount equal to the applicable Withheld Amount in the case of the February Distribution Date and any January Distribution
Date occurring in a year that is not a leap year (unless, in either case, such Distribution Date is the final Distribution Date),
minus (v) the Available Funds Reduction Amount for such Distribution Date.

 

“Available Funds
Reduction Amount”: As of each Distribution Date, all amounts withdrawn on the related Remittance Date or during the related
Collection Period from the Collection Account pursuant to clauses (i) through (xii) of Section 3.4(c).

 

“Balloon Payment”:
With respect to the Trust Loan or Whole Loan, as applicable, the payment of the outstanding principal balance of the Trust Loan
or Whole Loan, as applicable, together with all unpaid interest, due and payable on the Maturity Date.

 

“Base Interest
Fraction”: With respect to the Trust Loan and any principal prepayment on the Trust Loan and with respect to any Class
of Certificates, a fraction (A) whose numerator is the greater of (x) zero and (y) the positive difference between (i) the
Pass-Through Rate on such Class of Certificates, and (ii) the Treasury Note Rate used in calculating the Yield Maintenance
Premium with respect to such principal prepayment and (B) whose denominator is the positive difference between (i) the
Note Rate on the Trust Loan and (ii) the Treasury Note

 

     -10-

     

    

 

Rate used in calculating the Yield Maintenance Premium with respect
to such principal prepayment; provided, however, that (1) under no circumstances shall the Base Interest Fraction
be greater than one or less than zero, (2) if the Treasury Note Rate is greater than or equal to the Note Rate of the Trust Loan
and is greater than or equal to the Pass-Through Rate on such Class of Certificates, then the Base Interest Fraction shall be equal
to zero, and (3) if the Treasury Note Rate is greater or equal to the Note Rate on the Trust Loan and is less than the Pass-Through
Rate on such Class of Certificates, then the Base Interest Fraction shall equal one.

 

“Beneficial
Owner”: With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Person maintaining an account with such Depository (directly as a Depository
Participant or indirectly through a Depository Participant, in accordance with the rules of such Depository). Each of the Depositor,
the Trustee, the Certificate Administrator, the Special Servicer and the Servicer, as applicable, shall have the right to require,
as a condition to acknowledging the status of any Person as a Beneficial Owner under this Agreement, that such Person provide an
Investor Certification.

 

“Book Entry
Certificate”: Any Certificate registered in the name of the Depository or its nominee.

 

“Borrower”:
As defined in the Introductory Statement.

 

“Borrower Reimbursable
Trust Fund Expenses”: With respect to the Trust Loan, the unanticipated and other default related expenses incurred by
the Trust Fund as to which the Borrower is required to reimburse the Trust, the Trustee, the Servicer or the Special Servicer pursuant
to the terms of the Loan Documents.

 

“Borrower Related
Party”: With respect to the Whole Loan, any of (i) the Borrower, (ii) any guarantor or indemnitor under the Loan Documents,
(iii) any manager or operator of the Property (including the Manager and Parking Manager), and (iv) any Control Affiliate or agents
of any of the foregoing. For the avoidance of doubt, the ownership of any trust certificates shall not, in and of itself, cause
a Person to be a Borrower Related Party.

 

“Borrower Sponsor”:
Bruce A. Menin, Russell W. Galbut and Sonny Kahn and their affiliates, operating under the trade name Crescent Heights.

 

“Breach”:
As defined in Section 2.8(a).

 

“Business Day”:
Any day other than a Saturday, a Sunday or a legal holiday on which national banks are not open for general business in (i) the
State of Kansas, Ohio or New York or the Commonwealth of Pennsylvania, (ii) the state where the corporate trust offices of the
Trustee and the Certificate Administrator are located, or (iii) the state where the servicing offices of the Servicer are located.

 

“Cash Management
Account”: As defined in the Loan Agreement.

 

“CERCLA”:
The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

     -11-

     

    

 

“Certificate”:
Any Class A, Class B, Class C, Class D, Class X or Class R Certificate.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator, or if any successor
certificate administrator is appointed as herein provided, such certificate administrator. Wells Fargo Bank, National Association
will perform its duties as Certificate Administrator through its Corporate Trust Services division.

 

“Certificate
Administrator Fee”: With respect to the Trust Loan and for any Distribution Date, an amount accrued during the related
Loan Interest Accrual Period at the Certificate Administrator Fee Rate on the stated principal balance of the Trust Loan as of
the close of business on the Distribution Date in such Loan Interest Accrual Period; provided that such amounts shall be
computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed
due on the Trust Loan is computed and shall be prorated for partial periods. A portion of the Certificate Administrator Fee, namely
the Trustee Fee, shall be payable to the Trustee. For the avoidance of doubt, the Certificate Administrator Fee shall be deemed
to be payable from the Lower-Tier REMIC.

 

“Certificate
Administrator Fee Rate”: With respect to the Trust Loan, a rate equal to 0.0236% per annum, calculated on the
same interest accrual basis as the Trust Loan, which shall include the Trustee Fee Rate.

 

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

 

“Certificate
Balance”: With respect to any outstanding Class of Regular Interests (other than the Class X Regular Interest) or Sequential
Pay Certificates at any date, an amount equal to the aggregate Initial Certificate Balance of such Class less the sum of (a) all
amounts distributed to Holders of such Class on all previous Distribution Dates and treated under this Agreement as allocable to
principal and (b) the aggregate amount of Realized Losses allocated to such Class, if any, pursuant to Section 4.1(g).
With respect to any individual Certificate in any Class, the product of (x) the Percentage Interest represented by such Certificate
multiplied by (y) the Certificate Balance of such Class. The initial and then-current Certificate Balance or Notional Amount,
as applicable, of each Class of Regular Interests or Certificates subject to exchange in accordance with Section 5.8 will
be subject to re-designation as between the applicable Classes pursuant to Section 5.8.

 

“Certificate
Interest Accrual Period”: With respect to each Class of Certificates (other than the Class R Certificates) for any Distribution
Date, the calendar month preceding the month in which such Distribution Date occurs.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and the registrar appointed pursuant
to Section 5.3(a).

 

“Certificateholder”
or “Holder”: With respect to any Certificate, the person in whose name a Certificate is registered in the Certificate
Register; provided, however, that solely for the purposes of providing, distributing or otherwise making available
any reports, statements, communications, or other information as required or permitted to be provided, distributed or

 

     -12-

     

    

 

made available
to a Certificateholder under this Agreement, a Certificateholder shall include any Beneficial Owner to the extent that the Person
providing, distributing or making available such reports, statements, communications, or other information has received from such
Beneficial Owner information and a written certification reasonably acceptable to such Person regarding its name, and address and
beneficial ownership of a Certificate; and provided further that, solely for the purposes of the taking of any action or
the giving of any consent, waiver, request or demand pursuant to this Agreement (except as set forth in the following sentence),
any Certificate beneficially owned by the Servicer, the Special Servicer, the Trustee, a Restricted Holder, a Borrower Related
Party, the Certificate Administrator, or any sub-servicer as such person is identified to the Certificate Administrator or Trustee,
or any of their respective Affiliates, shall be deemed not to be outstanding and the Voting Rights to which it is entitled shall
not be taken into account in determining whether the requisite percentage of Voting Rights necessary to take any such action or
effect any such consent, waiver, request or demand has been obtained. However, the foregoing limitation as to Voting Rights shall
not be construed so as to limit or prevent a Controlling Class Certificateholder or the Directing Holder that is an Affiliate of
the Special Servicer from exercising any appointment, consent or non-binding consultation rights it may have solely in its capacity
as Controlling Class Certificateholder or Directing Holder, as applicable (unless, for the avoidance of doubt, the Controlling
Class Certificateholder or Directing Holder is a Borrower Related Party). For purposes of obtaining the consent of Certificateholders
to an amendment of this Agreement, any Certificate beneficially owned by the Trustee, the Certificate Administrator, the Servicer
or the Special Servicer or any Affiliates thereof shall be deemed to be outstanding, provided that such amendment does not
relate to the compensation, termination or replacement of the Trustee, the Certificate Administrator, the Servicer or the Special
Servicer, as the case may be, or benefit the Trustee, the Certificate Administrator, the Servicer or the Special Servicer in their
capacity as such or any Affiliates thereof (other than solely in the capacity as a Certificateholder) in any material respect,
in which case such Certificate shall be deemed not to be outstanding. The Trustee, the Certificate Administrator, and the Certificate
Registrar may obtain and conclusively rely upon an Officer’s Certificate of the Depositor, the Servicer, the Special Servicer,
the Certificate Administrator (in the case of the Trustee), the Trustee (in the case of the Certificate Administrator) or any sub-servicer
to determine whether a Certificate is beneficially owned by an Affiliate of any of them. The Trustee will be the Holder of the
Uncertificated Lower-Tier Interests and the Regular Interests for the benefit of the Certificateholders.

 

“Class”:
With respect to the Certificates, Regular Interests or Uncertificated Lower-Tier Interests, all of the Certificates bearing the
same alphabetical (and, if applicable, alphanumeric) designation, and each designated Regular Interest and Uncertificated Lower-Tier
Interest.

 

“Class A Certificate”:
A Certificate executed and authenticated by the Certificate Administrator in substantially the form set forth in Exhibit A-1
hereto and designated as a Class A Certificate, representing undivided beneficial interests in the Class A Specific Grantor Trust
Assets.

 

“Class A Component”:
The component of the Class X Regular Interest corresponding to the Class A Regular Interest.

 

     -13-

     

    

 

“Class A Pass-Through
Rate”: The per annum rate set forth in the Introductory Statement hereto with respect to the Class A Certificates.

 

“Class A Percentage
Interest”: As of any date of determination, with respect to the Class A Regular Interest and the Class A Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class A Certificates, and the
denominator of which is the Certificate Balance of the Class A Regular Interest.

 

“Class A Regular
Interest”: The uncertificated interest corresponding to the Class A Certificates, the Class V-ABC Certificates (to the
extent of the Class V-ABC Percentage Interest of the Class A Regular Interest) and the Class V2 Certificates (to the extent of
the Class V2 Percentage Interest of the Class A Regular Interest), constituting a “regular interest” in the Upper-Tier
REMIC for purposes of the REMIC Provisions and have the characteristics attributable thereto in this Agreement.

 

“Class A Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class A Percentage Interest of the Class A
Regular Interest and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class A Percentage Interest of the Class A Regular Interest.

 

“Class B Certificate”:
A Certificate executed and authenticated by the Certificate Administrator in substantially the form set forth in Exhibit A-2
hereto and designated as a Class B Certificate, representing undivided beneficial interests in the Class B Specific Grantor Trust
Assets.

 

“Class B Component”:
The component of the Class X Regular Interest corresponding to the Class B Regular Interest.

 

“Class B Pass-Through
Rate”: The per annum rate set forth in the Introductory Statement hereto with respect to the Class B Certificates.

 

“Class B Percentage
Interest”: As of any date of determination, with respect to the Class B Regular Interest and the Class B Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class B Certificates, and the
denominator of which is the Certificate Balance of the Class B Regular Interest.

 

“Class B Regular
Interest”: The uncertificated interest corresponding to the Class B Certificates, the Class V-ABC Certificates (to the
extent of the Class V-ABC Percentage Interest of the Class B Regular Interest) and the Class V2 Certificates (to the extent of
the Class V2 Percentage Interest of the Class B Regular Interest), constituting a “regular interest” in the Upper-Tier
REMIC for purposes of the REMIC Provisions and having the characteristics attributable thereto in this Agreement.

 

“Class B Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class B Percentage Interest of the Class B
Regular Interest and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class B Percentage Interest of the Class B Regular Interest.

 

     -14-

     

    

 

“Class C Certificate”:
A Certificate executed and authenticated by the Certificate Administrator in substantially the form set forth in Exhibit A-3
hereto and designated as a Class C Certificate, representing undivided beneficial interests in the Class C Specific Grantor Trust
Assets.

 

“Class C Component”:
The component of the Class X Regular Interest corresponding to the Class C Regular Interest.

 

“Class C Pass-Through
Rate”: The per annum rate set forth in the Introductory Statement hereto with respect to the Class C Certificates.

 

“Class C Percentage
Interest”: As of any date of determination, with respect to the Class C Regular Interest and the Class C Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class C Certificates, and the
denominator of which is the Certificate Balance of the Class C Regular Interest.

 

“Class C Regular
Interest”: The uncertificated interest corresponding to the Class C Certificates, the Class V-ABC Certificates (to the
extent of the Class V-ABC Percentage Interest of the Class C Regular Interest) and the Class V2 Certificates (to the extent of
the Class V2 Percentage Interest of the Class C Regular Interest), constituting a “regular interest” in the Upper-Tier
REMIC for purposes of the REMIC Provisions and having the characteristics attributable thereto in this Agreement.

 

“Class C Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class C Percentage Interest of the Class C
Regular Interest and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class C Percentage Interest of the Class C Regular Interest.

 

“Class D Certificate”:
A Certificate executed and authenticated by the Certificate Administrator in substantially the form set forth in Exhibit A-4
hereto and designated as a Class D Certificate, representing undivided beneficial interests in the Class D Specific Grantor Trust
Assets.

 

“Class D Pass-Through
Rate”: The per annum rate set forth in the Introductory Statement hereto with respect to the Class D Certificates.

 

“Class D Percentage
Interest”: As of any date of determination, with respect to the Class D Regular Interest and the Class D Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class D Certificates, and the
denominator of which is the Certificate Balance of the Class D Regular Interest.

 

“Class D Regular
Interest”: The uncertificated interest corresponding to the Class D Certificates, the Class V-D Certificates (to the
extent of the Class V-D Percentage Interest of the Class D Regular Interest) and the Class V2 Certificates (to the extent of the
Class V2 Percentage Interest of the Class D Regular Interest), constituting a “regular interest” in the Upper-Tier
REMIC for purposes of the REMIC Provisions and having the characteristics attributable thereto in this Agreement.

 

     -15-

     

    

 

“Class D Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class D Percentage Interest of the Class D
Regular Interest and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class D Percentage Interest of the Class D Regular Interest.

 

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

 

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

 

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

 

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

 

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

 

“Class Percentage
Interest”: The Class A Percentage Interest, the Class X Percentage Interest, the Class B Percentage Interest, the Class
C Percentage Interest, the Class D Percentage Interest, the V-ABC Percentage Interest, the Class V-D Percentage Interest and the
Class V2 Percentage Interest.

 

“Class R
Certificates”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form set
forth in Exhibit A-6 hereto and designated as a Class R Certificate. The Class R Certificates have neither
a Certificate Balance nor a Pass-Through Rate. The Class R Certificates will evidence the sole class of “residual interests”
in each of the Upper-Tier REMIC and the Lower-Tier REMIC.

 

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

 

“Class V Certificates”:
The Class V-ABC, Class V-D and Class V2 Certificates, collectively.

 

“Class V-ABC
Certificate”: A Certificate designated as “Class V-ABC” on the face thereof, in the form of Exhibit A-7
hereto, representing undivided beneficial interests in the Class V-ABC Specific Grantor Trust Assets.

 

“Class V-ABC
Percentage Interest”: As of any date of determination, with respect to the Class A, Class B, Class C and Class X Regular
Interests and the Class V-ABC Certificates, a percentage interest equal to a fraction, the numerator of which is the Certificate

 

     -16-

     

    

 

Balance
of the Class V-ABC Certificates, and the denominator of which is the aggregate Certificate Balance of the Class A, Class B and
Class C Regular Interests.

 

“Class V-ABC
Specific Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class V-ABC Percentage Interest of
each of the Class A, Class B, Class C and Class X Regular Interests and (ii) amounts held from time to time in the Regular Interest
Distribution Account that represent distributions of the Class V-ABC Percentage Interest of the Class A, Class B, Class C and Class
X Regular Interests.

 

“Class V-D Certificate”:
A Certificate designated as “Class V-D” on the face thereof, in the form of Exhibit A-9 hereto, representing
undivided beneficial interests in the Class V-D Specific Grantor Trust Assets.

 

“Class V-D Percentage
Interest”: As of any date of determination, with respect to the Class D Regular Interest and the Class V-D Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class V-D Certificates, and
the denominator of which is the Certificate Balance of the Class D Regular Interest.

 

“Class V-D Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class V-D Percentage Interest of the Class
D Regular Interest and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class V-D Percentage Interest of the Class D Regular Interest.

 

“Class V1 Certificates”:
The Class V-ABC and Class V-D Certificates.

 

“Class V2 Certificate”:
A Certificate designated as “Class V2” on the face thereof, in the form of Exhibit A-10 hereto, representing
undivided beneficial interests in the Class V2 Specific Grantor Trust Assets.

 

“Class V2 Percentage
Interest”: As of any date of determination, with respect to any Regular Interest and the Class V2 Certificates, a percentage
interest equal to a fraction, the numerator of which is the Certificate Balance of the Class V2 Certificates, and the denominator
of which is the aggregate Certificate Balance of the Regular Interests.

 

“Class V2 Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class V2 Percentage Interest of the Regular
Interests and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class V2 Percentage Interest of the Regular Interests.

 

“Class X Certificates”:
Each of the Certificates executed and authenticated by the Certificate Administrator in substantially the form set forth in Exhibit A-5
and designated as a Class X Certificate, representing undivided beneficial interests in the Class X Specific Grantor Trust
Assets.

 

“Class X Component”:
Each of the Class A Component, the Class B Component and the Class C Component.

 

“Class X Notional
Amount”: As set forth in the Introductory Statement hereto.

 

     -17-

     

    

 

“Class X Pass-Through
Rate”: As set forth in the Introductory Statement hereto.

 

“Class X Percentage
Interest”: As of any date of determination, with respect to the Class X Regular Interest and the Class X Certificates,
a percentage interest equal to a fraction, the numerator of which is the Notional Amount of the Class X Certificates, and the denominator
of which is the Notional Amount of the Class X Regular Interest.

 

“Class X Regular
Interest”: The uncertificated interest corresponding to the Class X Certificates, the Class V-ABC Certificates (to the
extent of the Class V-ABC Percentage Interest of the Class X Regular Interest) and the Class V2 Certificates (to the extent of
the Class V2 Percentage Interest of the Class X Regular Interest), constituting a “regular interest” in the Upper-Tier
REMIC for purposes of the REMIC Provisions and having the characteristics attributable thereto in this Agreement.

 

“Class X Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class X Percentage Interest of the Regular
Interests and (ii) amounts held from time to time in the Regular Interest Distribution Account that represent distributions
of the Class X Percentage Interest of the Regular Interests.

 

“Class X Strip
Rate”: With respect to each Class X Component and any Distribution Date, a per annum rate equal to the excess
of (i) the Net Mortgage Rate for such Distribution Date over (ii) the Pass-Through Rate of the Class of Certificates
corresponding to such individual Class X Component.

 

“Clearing Agency”:
An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act. The initial Clearing
Agency shall be The Depository Trust Company.

 

“Clearstream”:
As defined in Section 5.2(a).

 

“Closing Date”:
March 29, 2019.

 

“Co-Lender Agreement”:
As defined in the Introductory Statement hereto.

 

“Code”:
The Internal Revenue Code of 1986, as amended, and as it may be further amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury regulations issued pursuant thereto in temporary or final form and any proposed
regulations thereunder, to the extent that, by reason of their proposed effective date, such proposed regulations would apply to
the Trust Fund.

 

“Collateral”:
With respect to the Whole Loan, collectively, whether now or hereafter acquired, (a) the Property and (b) any other asset
subject to the security interests and liens of the Mortgage.

 

“Collateral
Security Documents”: Any document or instrument given to secure or guaranty the Whole Loan, including without limitation,
the Mortgage and the Assignment of Leases, as amended, supplemented, assigned, extended or otherwise modified from time to time.

 

     -18-

     

    

 

“Collection
Account”: As defined in Section 3.4(a).

 

“Collection
Period”: With respect to any Distribution Date, the period commencing immediately following the Determination Date in
the calendar month preceding the month in which such Distribution Date occurs and ending on and including the Determination Date
in the calendar month in which such Distribution Date occurs; provided that the first Collection Period will commence on
the Closing Date and end on and include the Determination Date in April 2019.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion Loans”:
As defined in the Introductory Statement hereto.

 

“Companion Loan
Account”: As defined in Section 3.4(a).

 

“Companion Loan
Holder”: The holder of any portion of the Companion Loans.

 

“Companion Notes”:
As defined in the Introductory Statement.

 

“Condemnation”:
As defined in the Loan Agreement.

 

“Condemnation
Proceeds”: The portion of the Net Proceeds relating to a Condemnation.

 

“Control Affiliate”:
As to any particular Person, any Person, directly or indirectly through one or more intermediaries, Controlling, Controlled by
or under common Control with, such Person in question. As used solely in this definition of “Control Affiliate”, “Control”
means (a) the ownership, directly or indirectly, in the aggregate of 25% or more of the beneficial ownership interests of an entity,
or (b) the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an
entity, whether through the ability to exercise voting power, by contract or otherwise. “Controlled by,” “Controlling”
and “under common Control with” have the respective correlative meanings to such terms. The Trustee and/or the Certificate
Administrator may obtain and rely upon a certification of the Borrower, the Borrower Sponsor, the Guarantor (or any replacement
guarantor), or any manager or operator of the Property (including the Manager and the Parking Manager), as applicable, to determine
whether any Person is a Control Affiliate.

 

“Control Appraisal
Period”: As defined in the Co-Lender Agreement and as determined by the Special Servicer pursuant to Section 9.1
herein.

 

“Confidential
Information”: With respect to the Servicer or Special Servicer, as applicable, all material non-public information obtained
in the course of and as a result of such Person’s performance of its duties as the Servicer or the Special Servicer, as applicable,
with respect to the Whole Loan, the Borrower, the Borrower Sponsor and the Property, unless such information (i) was already
in the possession of such Person prior to being disclosed to such Person, (ii) is or becomes available to such Person from
a source other than its activities as the Servicer or the Special Servicer, as applicable, or (iii) is or becomes generally
available to the

 

     -19-

     

    

 

public other than as a result of a disclosure by Servicer Servicing Personnel or Special Servicer Servicing Personnel,
as applicable.

 

“Controlling
Class”: The Class D Certificates. For the avoidance of doubt, during any Subordinate Consultation Period, the Controlling
Class will retain certain consultation rights as set forth herein.

 

“Controlling
Note Holder”: As defined in the Co-Lender Agreement.

 

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

 

“Controlling
Persons”: As defined in Section 6.3(a).

 

“Corporate Trust
Office”: The principal corporate trust office of the Trustee or the Certificate Administrator, as applicable, at which
at any particular time its corporate trust business shall be administered, which office at the date of the execution of this Agreement
is located in the case of the Trustee and Certificate Administrator, at 9062 Old Annapolis Road, Columbia, Maryland 21045-1951,
Attention: Corporate Trust Services – NCMS 2019-NEMA or the principal trust office of any successor trustee qualified and
appointed pursuant to Section 8.8, or for certificate transfer services, 600 South 4th Street, 7th
Floor, MAC N9300-070, Minneapolis, Minnesota 55479, Attention: Certificate Transfers Services—NCMS 2019-NEMA.

 

“Corresponding
Certificates”: As defined in the Introductory Statement with respect to any Corresponding Regular Interest.

 

“Corresponding
Lower-Tier Regular Interests”: As defined in the Introductory Statement with respect to any Corresponding Regular Interests.

 

“Corresponding
Regular Interests”: As defined in the Introductory Statement with respect to any Corresponding Lower-Tier Regular Interest
or Corresponding Certificate.

 

“Credit Risk
Retention Rule”: The final rule that was promulgated to implement the credit risk retention requirements under Section
15G of the Securities Exchange Act of 1934,

 

     -20-

     

    

 

as added by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection
Act (the “Dodd-Frank Act”) (79 F.R. 77601; pages 77740-77766), as such rule may be amended from time to time,
and subject to such clarification and interpretation as have been provided by the Department of Treasury, the Federal Reserve System,
the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Securities and Exchange Commission and the Department
of Housing and Urban Development in the adopting release (79 F.R. 77601 et seq.) or by the staff of any such agency, or
as may be provided by any such agency or its staff from time to time, in each case, as effective from time to time.

 

“Credit Suisse”:
Credit Suisse Securities (USA) LLC.

 

“CREFC®”:
CRE Finance Council or any successor thereto.

 

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

 

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

 

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

 

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

 

“CREFC®
Delinquent Loan Status Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Delinquent Loan Status Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from

 

     -21-

     

    

 

time
to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer and the Special Servicer.

 

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

 

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

 

“CREFC®
Intellectual Property Royalty License Fee”: means, with respect to the Trust Loan, for any Loan Interest Accrual Period,
the amount of interest accrued during such Interest Accrual Period at the related CREFC® Intellectual Property
Royalty License Fee Rate on the same balance, in the same manner and for the same number of days as interest at the Note Rate accrued
with respect to the Trust Loan during such Interest Accrual Period.

 

“CREFC®
Intellectual Property Royalty License Fee Rate”: means 0.0005% per annum.

 

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

 

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

 

“CREFC®
Loan Setup File”: The report substantially in the form of, and containing the information called for in, the downloadable
form of the “Loan Setup File” available as of the Closing Date on the CREFC® Website, or such other
form for the presentation of such information and containing such additional information as may from time to time be

 

     -22-

     

    

 

recommended
by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer,
the Special Servicer and the Certificate Administrator.

 

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

 

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

 

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

 

“CREFC®
Reports”: Collectively refers to the following reports as such may be amended, updated or supplemented from time to time
as part of the CREFC® “IRP” (Investor Reporting Package):

 

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

 

(ii)          
the following nine supplemental reports: (i) CREFC® Comparative Financial Status Report, (ii) CREFC®
Delinquent Loan Status Report, (iii) CREFC® Historical Loan Modification and Corrected Loan Report, (iv) CREFC®
Operating Statement Analysis Report, (v) CREFC® NOI Adjustment Worksheet, (vi) CREFC® REO
Status Report, (vii) CREFC® Servicer Watch List, (viii) CREFC® Loan Level Reserve –
LOC Report, and (ix) CREFC® Advance Recovery Report,

 

provided, however, that any
analysis or report shall not be required to the extent not provided in the then-current CREFC® guidelines.

 

     -23-

     

    

 

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

 

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

 

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

 

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

 

“Current Interest
Determination Amount”: With respect to any Distribution Date for any Class of Certificates (other than the Class R
Certificates) or Uncertificated Lower-Tier Interests, the interest accruing during the related applicable Certificate Interest
Accrual Period at the Pass-Through Rate applicable to such Class for such Certificate Interest Accrual Period on the Certificate
Balance, Notional Amount or Lower-Tier Principal Amount of such Class of Certificates and Uncertificated Lower-Tier Interests,
respectively, as of the prior Distribution Date (after giving effect to distributions of principal and allocations of Realized
Losses on such prior Distribution Date).

 

“Custodian”:
The Certificate Administrator, if the Custodian is Wells Fargo Bank, National Association, performing its duties through the Document
Custody Group of Wells Fargo, in its capacity as custodian, or any successor certificate administrator.

 

“Cut-off Date”:
March 10, 2019.

 

“Default Interest”:
With respect to the Trust Notes and the Companion Notes, as applicable, during the occurrence and continuance of a Loan Event of
Default, interest accrued on the Trust Notes and the Companion Notes, as applicable, at the excess of the Default Rate over the
Note Rate of the Trust Notes and the Companion Notes, as applicable, during the Loan Interest Accrual Period on the outstanding
principal balance of the Trust Notes and the Companion Notes, as applicable, as of the prior Loan Payment Date in accordance with
the Loan

 

     -24-

     

    

 

Agreement and, to the extent permitted by law, all accrued and unpaid interest and other amounts due in respect of the
Trust Notes and the Companion Notes, as applicable, from the date such payment was due without regard to any grace or cure periods.

 

“Default Rate”:
As defined in the Loan Agreement.

 

“Defaulted Loan”:
As defined in Section 1.3(c).

 

“Defect”:
As defined in Section 2.8(a).

 

“Definitive
Certificate”: Any Certificate in fully registered certificated form without interest coupons. For the avoidance of doubt,
any RR Interest shall at all times be evidenced by Definitive Certificates.

 

“Depositor”:
Natixis Commercial Mortgage Securities LLC, a Delaware limited liability company, together with its successors and assigns.

 

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

 

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

 

“Determination
Date”: With respect to each Distribution Date, the 11th day of each calendar month in which such Distribution
Date occurs or, if such 11th day is not a Business Day, the immediately succeeding Business Day.

 

“Directing Holder”:
(a) For so long as no Note B-2 Control Appraisal Period is continuing, the holder of Note B-2; (b) if a Note B-2 Control Appraisal
Period is continuing, but a Note B-1 Control Appraisal Period is not continuing, the holder of Note B-1; and (c) if a Note B-1
Control Appraisal Period is continuing, the Majority Controlling Class Certificateholder (or a representative appointed by such
holder or holders); provided, however, that in the case of a Directing Holder to be appointed by the Majority Controlling
Class Certificateholder, (i) absent such appointment, (ii) until a Directing Holder is so appointed or (iii) upon receipt by the
Servicer, the Special Servicer and the Certificate Administrator of notice from the Majority Controlling Class Certificateholder
that a Directing Holder appointed by them is no longer so designated, the Controlling Class Certificateholder that owns and is
identified in writing (with contact information) to the Servicer, the Special Servicer, the Trustee and the Certificate Administrator
as owning, the largest aggregate Certificate Balance of Certificates of the Controlling Class will be the Directing Holder; provided,
further, that no Borrower Related Party shall be entitled to exercise the rights of the Directing Holder.

 

“Directly Operate”:
With respect to any Foreclosed Property, the furnishing or rendering of services to the tenants thereof, that are not customarily
provided to tenants in connection with the rental of space “for occupancy only” within the meaning of Treasury Regulations
Section 1.512(b)-1(c)(5), the management or operation of such Foreclosed Property, the holding of such Foreclosed Property
primarily for sale to customers, the use of such

 

     -25-

     

    

 

Foreclosed Property in a trade or business conducted by the Trust Fund or the
performance of any construction work on the Foreclosed Property, other than through an Independent Contractor; provided,
however, that a Foreclosed Property shall not be considered to be Directly Operated solely because the Trustee on behalf
of the Trust and the Companion Loan Holders (or the Special Servicer on behalf of the Trustee on behalf of the Trust and the Companion
Loan Holders) establishes rental terms, chooses tenants, enters into or renews leases, deals with taxes and insurance or makes
decisions as to repairs or capital expenditures with respect to such Foreclosed Property or takes other actions consistent with
Treasury Regulations Section 1.856-4(b)(5)(ii).

 

“Disclosable
Special Servicer Fees”: With respect to the Whole Loan or Foreclosed Property, any compensation and other remuneration
(including, without limitation, in the form of commissions, brokerage fees, rebates, and as a result of any other fee-sharing arrangement)
received or retained by the Special Servicer or any of its Affiliates that is paid by any Person (including, without limitation,
the Trust, the Borrower, the Borrower Sponsor or indemnitor in respect of the Whole Loan and any purchaser of the Whole Loan or
Foreclosed Property) in connection with the disposition or workout of the Whole Loan, the management or disposition of the Foreclosed
Property, and the performance by the Special Servicer or any such Affiliate of any other special servicing duties under this Agreement
other than (i) Permitted Special Servicer/Affiliate Fees and (ii) any Additional Special Servicing Compensation to which
the Special Servicer is entitled under this Agreement in the form of late payment charges, Default Interest, assumption fees, assumption
application fees, substitution fees, consent fees, Modification Fees, processing fees or other similar fees or other income earned
on deposits in the Foreclosed Property Account to the extent not reported in the CREFC® Reports; provided
that any compensation and other remuneration that the Servicer is permitted to receive or retain pursuant to the terms of this
Agreement in connection with its duties as Servicer hereunder will not be Disclosable Special Servicer Fees.

 

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

 

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

 

“Disqualified
Organization”: Either (a) the United States, a State, or any agency or instrumentality of any of the foregoing (other
than an instrumentality that is a corporation if all of its activities are subject to tax and, except for FHLMC, a majority of
its board of directors is not selected by any such governmental unit), (b) a foreign government, International Organization
or agency or instrumentality of either of the foregoing, (c) an organization that is exempt from tax imposed by Chapter 1
of the Code (including the tax imposed by Section 511 of the Code on unrelated business taxable income) on any excess inclusions
(as defined in

 

     -26-

     

    

 

Section 860E(c)(1)) of the Code with respect to the Class R Certificates (except certain farmers’
cooperatives described in Section 521 of the Code), (d) rural electric and telephone cooperatives described in Section 1381(a)(2)
of the Code or (e) any other person so designated by the Certificate Administrator based upon an Opinion of Counsel to the effect
that any transfer of a Class R Certificate to such person may cause the Upper-Tier REMIC or the Lower-Tier REMIC to fail to
qualify as a REMIC at any time that the Certificates are outstanding. The terms “United States,” “State”
and “International Organization” have the meanings set forth in Section 7701 of the Code or successor provisions.

 

“Distribution
Account”: The account established and maintained by the Certificate Administrator pursuant to Section 3.5.

 

“Distribution
Date”: The 4th Business Day after each Determination Date, beginning in April 2019. The first Distribution
Date shall be April 17, 2019.

 

“Distribution
Date Statement”: As defined in Section 4.4(a).

 

“Eligible Account”:
A separate and identifiable account from all other funds held by the holding institution that is either (a) an account or
accounts maintained with a federal or state-chartered depository institution or trust company which complies with the definition
of Eligible Institution or (b) a segregated trust account or accounts maintained with a federal or state chartered depository
institution or trust company acting in its fiduciary capacity the long-term unsecured debt obligations of which are rated at least
“A2” by Moody’s which, in the case of a state chartered depository institution or trust company, is subject to
regulations substantially similar to 12 C.F.R. § 9.10(b), having in either case a combined capital and surplus of at least
$50,000,000.00 and subject to supervision or examination by federal or state authority, as applicable. An Eligible Account will
not be evidenced by a certificate of deposit, passbook or other instrument.

 

“Eligible Institution”:
(a) an institution whose commercial paper, short-term debt obligations or other short-term deposits are rated at least “A–1”
by S&P, “P–1” by Moody’s and “F–1” by Fitch, and whose long-term senior unsecured
debt obligations are rated at least “A” by S&P, “A” by Fitch, and “A2” by Moody’s
and whose deposits are insured by the FDIC or (b) an institution with respect to which a Rating Agency Confirmation is obtained;
provided, that, with respect to KeyBank National Association, (i) the short term obligations, deposits, accounts
or commercial paper of KeyBank National Association must be rated at least “A-2” by S&P, “P-1” by Moody’s
and “F-1” by Fitch, and the long term unsecured debt obligations, accounts or deposits of KeyBank National Association
are rated at least “BBB” by S&P, “A2” by Moody’s and “A-“ by Fitch or (ii) KeyBank
National Association has obtained a Rating Agency Confirmation.

 

“Environmental
Indemnity”: As defined in the Loan Agreement.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated thereunder.

 

“ERISA Plan”:
As defined in Section 5.3(p).

 

     -27-

     

    

 

“Euroclear”:
As defined in Section 5.2(a).

 

“Excess Servicing
Fee”: With respect to the Whole Loan (and any successor Foreclosed Property with respect thereto), that portion of the
Servicing Fees that accrues at a per annum rate equal to the Servicing Fee Rate minus 0.00125%; provided that such rate
shall be subject to reduction at any time following any resignation of a Servicer pursuant to Section 6.4 (if no successor
is appointed in accordance with Section 6.4 or any termination of a Servicer pursuant to Section 7.1 to the extent
reasonably necessary (in the sole discretion of the Trustee) for the Trustee to appoint a qualified successor servicer (which successor
may include the Trustee) that meets the requirements of Section 7.2.

 

“Excess Servicing
Fee Right”: With respect to the Whole Loan (and any successor Foreclosed Property with respect thereto), the right to
receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Servicer shall be the owner
of such Excess Servicing Fee Right.

 

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

 

“Exchangeable
Group”: As defined in Section 5.8(c).

 

“Extended Period”:
As defined in Section 12.2(b).

 

“Extension”:
As defined in Section 12.2(b).

 

“FATCA”:
Section 1471 through 1474 of the Code and any regulations or official interpretations thereof (including any revenue ruling, revenue
procedure, notice or similar guidance issued by the IRS thereunder as a precondition to relief or exemption from taxes under such
Sections, regulations and interpretations), any agreements entered into pursuant to Section 1471(b)(1) of the Code, and including
any amendments made to FATCA after the date of this Agreement.

 

“FHLMC”:
The Federal Home Loan Mortgage Corporation or any successor thereto.

 

“Fiduciary”:
As defined in Section 5.3(p).

 

“Final Asset
Status Report”: With respect to the Specially Serviced Loan and the Property, each related Asset Status Report, together
with such other data or supporting information provided by the Special Servicer to the Directing Holder or the Risk Retention Consultation
Party, in each case, which does not include any communication (other than the related Asset Status Report) between the Special
Servicer and Directing Holder or the Risk Retention Consultation Party with respect to the Specially Serviced Loan and the Property.
During any Subordinate Control Period, no Asset Status Report shall be considered to be a Final Asset Status Report unless the
Directing Holder has either finally approved of and consented to the actions proposed to be taken in connection therewith, or has
been deemed to have approved or consented to such action, or has exhausted all of its rights of approval and consent, or the

 

     -28-

     

    

 

Asset
Status Report is otherwise implemented by the Special Servicer in accordance with this Agreement.

 

“FNMA”:
The Federal National Mortgage Association or any successor thereto.

 

“Foreclosed
Property”: The Property or other Collateral securing the Whole Loan, in the event that title to such Property or such
other Collateral has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure,
deed in lieu of foreclosure or otherwise in the name of the Trustee for the benefit of Certificateholders and the Companion Loan
Holders or their nominee.

 

“Foreclosed
Property Account”: As defined in Section 3.6.

 

“Foreclosed
Property Management Fee”: As to the Property when it is a Foreclosed Property, a fee payable out of the Foreclosed Property
Account to the Successor Manager for managing such property while it is owned by the Trust Fund, which shall be reasonable and
customary in the market in which the Property is located.

 

“Foreclosure
Proceeds”: The proceeds, net of any related expenses of the Servicer, Special Servicer, the Certificate Administrator
and/or the Trustee, received in respect of the Foreclosed Property (including, without limitation, proceeds from the operation
or rental of the Foreclosed Property) prior to the final liquidation of the Foreclosed Property.

 

“Global Certificates”:
As defined in Section 5.2(b).

 

“Grantor Trust”:
A segregated asset pool within the Trust Fund, which at all times shall be treated as a “grantor trust” under the Grantor
Trust Provisions, consisting of the Specific Grantor Trust Assets, beneficial ownership of which Specific Grantor Trust Assets
(in the case of any Class thereof) is represented by the Class of Certificates with the corresponding alphabetic or alphanumeric
designation.

 

“Grantor Trust
Provisions”: Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

 

“Guarantor”:
As defined in the Loan Documents.

 

“Guaranty”:
As defined in the Loan Agreement.

 

“Indemnified
Party”: As defined in Section 8.12.

 

“Independent”:
When used with respect to any specified Person, such a Person who (i) does not have any direct financial interest or any material
indirect financial interest in the Depositor, the Borrower, the Trustee, the Certificate Administrator, the Risk Retention Consultation
Party, the Companion Loan Holders, the Servicer or the Special Servicer or in any of their respective Affiliates and (ii) is
not connected with the Depositor, the Borrower, the Companion Loan Holders, the Trustee, the Certificate Administrator, the Risk
Retention Consultation Party, the Servicer or the Special Servicer or any of their respective Affiliates as an

 

     -29-

     

    

 

officer, employee,
promoter, underwriter, trustee, partner, director or person performing similar functions.

 

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

 

“Independent
Contractor”: Either (i) any Person (other than the Special Servicer or Servicer) that would be an “independent
contractor” with respect to the Lower-Tier REMIC or the Upper-Tier REMIC within the meaning of Section 856(d)(3) of
the Code if such REMIC were a real estate investment trust (except that the ownership test set forth in that Section of the Code
shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any Class of Certificates or 35%
or more of the aggregate value of all Classes of Certificates or such other interest in the Certificates as is set forth in an
Opinion of Counsel, which shall, at no expense to the Trustee, the Certificate Administrator, the Special Servicer, the Servicer,
or the Trust Fund, be delivered to the Trustee, or to the Certificate Administrator, the Special Servicer or the Servicer on behalf
of the Trustee); provided that neither the Lower-Tier REMIC nor the Upper-Tier REMIC receives or derives any income from
such Person and the relationship between such Person and such REMIC is at arm’s length, all within the meaning of Treasury
Regulations Section 1.856-4(b)(5), or (ii) any other Person (including the Special Servicer or the Servicer) if the Trustee
and the Certificate Administrator (or the Servicer or the Special Servicer on behalf of the Trustee) has received an Opinion of
Counsel which shall, at no expense to the Trustee, the Certificate Administrator, the Special Servicer, the Servicer (unless the
Special Servicer or the Servicer is providing the Opinion of Counsel with respect to itself) or the Trust Fund, be to the effect
that the taking of any action in respect of any Foreclosed Property by such Person, subject to any conditions therein specified,
that is otherwise herein contemplated to be taken by an Independent Contractor will not cause such Foreclosed Property to cease
to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined without
regard to the exception applicable for purposes of Section 860D(a) of the Code), or cause any income realized in respect of
such Foreclosed Property to fail to qualify as Rents from Real Property.

 

“Initial Certificate
Balance”: The amounts set forth in the Introductory Statement.

 

“Initial Maximum
Balance”: The amounts set forth in the Introductory Statement.

 

“Initial Notional
Amount”: The amounts set forth in the Introductory Statement.

 

“Initial Purchasers”:
Natixis Securities Americas LLC and Credit Suisse Securities (USA) LLC.

 

“Inquiry”
and “Inquiries”: As defined in Section 4.5(a).

 

“Institutional
Accredited Investor”: An institution that is an “accredited investor” within the meaning of Rule 501(a)
(1), (2), (3) or (7) under the Act.

 

     -30-

     

    

 

“Insurance Proceeds”:
With respect to the Whole Loan, (a) the portion of Net Proceeds paid as a result of a Casualty (as defined in the Loan Agreement)
other than amounts to be applied to the restoration, preservation or repair of the Property or to be released to the Borrower each
in accordance with the terms of the Loan Agreement, or if not required to be so applied or so released under the terms of the Loan
Agreement and Accepted Servicing Practices, (b) amounts paid by any insurer pursuant to any insurance policy required to be
maintained by the Servicer pursuant to Section 3.11, to the extent related to this Agreement only and/or (c) any other
amounts paid by an insurer pursuant to any insurance policy required to be maintained by the Borrower, to the extent allocable
to the Whole Loan under the Loan Documents.

 

“Interest Distribution
Amount”: With respect to any Distribution Date for any Class of Certificates (other than the Class R Certificates),
any Class of Regular Interests or any Class of Uncertificated Lower-Tier Interests, the sum of the Current Interest Determination
Amount for such Distribution Date and such Class of Certificates, Regular Interests or Uncertificated Lower-Tier Interests plus
the aggregate unpaid Interest Shortfalls in respect of prior Distribution Dates for such Class of Certificates, Regular Interests
or Uncertificated Lower-Tier Interests.

 

“Interest Reserve
Account”: As defined in Section 3.4(d).

 

“Interest Shortfall”:
With respect to any Distribution Date for any Class of Certificates (other than the Class R Certificates), any Class of Regular
Interests or any Class of Uncertificated Lower-Tier Interests, the amount by which the Current Interest Determination Amount for
such Class exceeds the portion thereof actually paid on such Distribution Date.

 

“Interested
Person”: As defined in Section 3.16(a)(ii).

 

“Investment”:
Any direct or indirect ownership interest in any security, note or other financial instrument issued or executed by the Borrower
or any Affiliate thereof, a loan directly or indirectly secured by any of the foregoing or a hedging transaction (however structured)
that references or relates to any of the foregoing.

 

“Investment
Account”: As defined in Section 3.8(a).

 

“Investment
Decisions”: Investment, trading, lending or other financial decisions, strategies or recommendations with respect to
Investments, whether on behalf of the Servicer, the Special Servicer, the Certificate Administrator or any Affiliate thereof, as
applicable, or any Person on whose behalf the Servicer, the Special Servicer or any of their respective Affiliates has discretion
in connection with Investments.

 

“Investment
Representation Letter”: A letter substantially in the form attached hereto as Exhibit J-4.

 

“Investor Certification”:
A certificate representing that such person executing the Certificate is (a) a Certificateholder, a Beneficial Owner of a Certificate,
a representative of the Directing Holder (to the extent a Subordinate Control Period or Subordinate Consultation Period is in effect),
the Risk Retention Consultation Party or a prospective purchaser of a Certificate and that either (a) such person is not a Borrower
Related Party or an agent or Affiliate of the

 

     -31-

     

    

 

foregoing, in which case such person shall have access to all the reports and information
made available to Privileged Persons hereunder, or (b) such person is a Borrower Related Party or an agent or Affiliate of the
foregoing, in which case such person shall only receive access to the Distribution Date Statements prepared by the Certificate
Administrator. The Investor Certification shall be substantially in the form of Exhibit J-1 or Exhibit J-2 hereto,
as applicable, or may be in the form of an electronic certification contained on the Certificate Administrator’s Website.
Investor Certifications may be submitted electronically via the Certificate Administrator’s Website.

 

“Investor Q&A
Forum”: As defined in Section 4.5(a).

 

“Investor Registry”:
As defined in Section 4.5(b).

 

“IRS”:
The Internal Revenue Service.

 

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

 

“Lease”:
A “Lease” as defined in the Loan Agreement.

 

“Letter of Credit”:
As defined in the Loan Agreement.

 

“Liquidated
Property”: The Property, if it has been liquidated and the Special Servicer has determined that all amounts which it
expects to recover from or on account of the Property have been recovered.

 

“Liquidation
Expenses”: Reasonable and customary expenses (other than expenses covered by any insurance policy) incurred by the Servicer,
the Special Servicer, the Certificate Administrator or the Trustee in connection with the liquidation of the Whole Loan or the
Property, such expenses including, without limitation, legal fees and expenses, appraisal fees, brokerage fees and commissions,
conveyance taxes and trustee and co-trustee fees, if any. Liquidation Expenses shall not include any previously incurred expenses
which have been previously reimbursed to the party incurring the same or which were netted against income from the Foreclosed Property
and were considered in the calculation of the amount of Foreclosure Proceeds pursuant to the definition thereof.

 

“Liquidation
Fee”: A fee payable to the Special Servicer with respect to the Liquidated Property or the liquidation of the Whole
Loan or the Notes as to which the Special Servicer receives any Net Liquidation Proceeds, equal to the product of the Liquidation
Fee Rate and Net Liquidation Proceeds related to the Liquidated Property, Whole Loan or Notes; except as provided in Section 3.17(a).
The Liquidation Fee with respect to the Specially Serviced Loan or Foreclosed Property shall be reduced by the amount of any Modification
Fees paid by or on behalf of the Borrower in regard to any Special Servicing Loan Event and received by the Special Servicer as
compensation within the 12-month period preceding payment of the Liquidation Fee, but only to the extent those fees have
not previously been deducted from a Workout Fee or Liquidation Fee.

 

“Liquidation
Fee Rate”: A rate equal to 0.50%, subject to a cap of $1,000,000.

 

     -32-

     

    

 

“Liquidation
Proceeds”: Amounts (other than Insurance Proceeds and Condemnation Proceeds) received by the Special Servicer and/or
the Certificate Administrator in connection with (a) the liquidation of the Whole Loan or the Property, whether through judicial
foreclosure, sale or otherwise, (b) the sale, discounted payoff or other liquidation of the Whole Loan (other than amounts required
to be paid to the Borrower pursuant to law or the terms of the Loan Agreement) including the proceeds of any full, partial or discounted
payoff of the Whole Loan (exclusive of any portion of such payoff or proceeds that represents Default Interest or late payment
charges), or (c) the purchase of the Trust Loan by the related Companion Loan Holder.

 

“Loan Agreement”:
As defined in the Introductory Statement.

 

“Loan Documents”:
With respect to the Whole Loan, all documents executed or delivered by the Borrower evidencing or securing or subsequently added
to the Mortgage File, in each case as each of the same may be amended, restated, replaced, supplemented or otherwise modified from
time to time in accordance therewith, including without limitation the Loan Agreement.

 

“Loan Event
of Default”: An “Event of Default” as defined in the Loan Agreement.

 

“Loan Interest
Accrual Period”: With respect to the Notes and any Loan Payment Date, the period commencing on and including the tenth
day of the calendar month immediately preceding the month in which such Loan Payment Date occurs to and including the ninth day
of the following calendar month.

 

“Loan Payment
Date”: The “Payment Date” as defined in the Loan Agreement.

 

“Loan Principal
Balance”: As of the date of any determination, with respect to the Trust Loan, Companion Loans, Whole Loan or Foreclosed
Property, the outstanding principal balance of such Trust Loan, Companion Loans or Whole Loan or, as determined in accordance with
Section 3.12(g), such Foreclosed Property.

 

“Loan Purchase
Agreement”: The loan purchase and sale agreement dated as of the Closing Date, by and between the Loan Seller and the
Depositor.

 

“Loan Seller”:
Natixis Real Estate Capital LLC.

 

“Lower-Tier
Distribution Account”:  A subaccount of the Distribution account, which shall be an asset of the Trust Fund and
the Lower-Tier REMIC.

 

“Lower-Tier
Distribution Amount”:  As defined in Section 4.1(b).

 

“Lower-Tier
Principal Amount”:  With respect to any Uncertificated Lower-Tier Interest, a principal amount that initially will
equal the Original Lower-Tier Principal Amount of such Uncertificated Lower-Tier Interest set forth in the Introductory Statement
herein, and from time to time will equal such amount reduced by the amount of any distributions of the Lower-Tier Distribution
Amount allocable to principal made, and any Realized Losses allocated, with respect to such Uncertificated Lower-Tier Interest
on any Distribution Date as provided in

 

     -33-

     

    

 

Section 4.1(g) of this Agreement and increased by the amount of any recoveries of Nonrecoverable
Advances applied to increase the Certificate Balance of the Corresponding Regular Interest as provided in Section 4.1(g) of this
Agreement.

 

“Lower-Tier
REMIC”:  A segregated asset pool within the Trust Fund consisting of the Trust Loan, collections thereon, the Trust’s
interest in any Foreclosed Property acquired in respect thereof, amounts related thereto held from time to time in the Collection
Account, the Lower-Tier Distribution Account, the Foreclosed Property Account, the Interest Reserve Account and all other property
included in the Trust Fund that is not in the Upper-Tier REMIC or the Grantor Trust.

 

“Lower-Tier
Regular Interests”: The Class LA Interest, Class LB Interest, Class LC Interest and Class LD Interest issued by the Lower-Tier
REMIC and held by the Trustee as assets of the Upper-Tier REMIC. Each Lower-Tier Regular Interest (i) is designated as a “regular
interest” in the Lower-Tier REMIC, (ii) relates to its Corresponding Regular Interest and Corresponding Certificates, (iii)
is uncertificated, (iv) has an initial Lower-Tier Principal Balance as set forth in the Introductory Statement herein, (v) has
a Pass-Through Rate equal to the Net Mortgage Rate, (vi) has a “latest possible maturity date,” within the meaning
of Treasury Regulations Section 1.860G-1(a), that is the Rated Final Distribution Date and (vii) is entitled to the distributions
in the amounts and at the times specified in Section 4.2(b) of this Agreement.

 

“MAI”:
Standards of Professional Appraisal Practice established for Members of the Appraisal Institute.

 

“Major Decision”:
any of the following:

 

(i)           
any proposed or actual foreclosure upon or comparable conversion (which may include acquisition of a Foreclosed Property)
of the ownership of the Property;

 

(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
Whole Loan or any extension of the maturity date of the Whole Loan, other than as expressly permitted pursuant to the terms of
the Loan Documents;

 

(iii)        
any exercise of remedies under the Whole Loan, including the acceleration of the Whole Loan or initiation of any proceedings
under the Loan Documents or any acquisition of the Property or any interest therein by foreclosure, deed-in-lieu of foreclosure,
settlement or otherwise;

 

(iv)       
any sale of the Whole Loan or Foreclosed Property for less than the Repurchase Price;

 

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

 

     -34-

     

    

 

(vi)        any
substitution or release of real property collateral for the Whole Loan (other than substitutions or releases of immaterial and
non-income producing real property collateral or in connection with a condemnation action) except, in each case, as expressly
permitted by the Loan Documents;

 

(vii)      
any determination not to enforce a “due-on-sale” or “due-on-encumbrance” clause (unless such
clause is not exercisable under applicable law or such exercise is reasonably likely to result in successful legal action by the
Borrower);

 

(viii)   
any transfer of the Property or any portion of the Property, or any transfer of any direct or indirect ownership interest
in the Borrower to the extent the lender’s consent under the Loan Documents is required, except in each case as expressly
permitted by the Loan Documents or in connection with a pending or threatened condemnation;

 

(ix)         
any consent to incurrence of additional debt by the Borrower or mezzanine debt by a direct or indirect parent of the Borrower,
including modification of the terms of any document evidencing or securing any such additional debt and of any intercreditor or
subordination agreement executed in connection therewith and any waiver of or amendment or modification to the terms of any such
document or agreement, in each case to the extent the lender’s approval is required by the Loan Documents;

 

(x)          
releases of any escrow accounts, reserve accounts or letters of credit each if held as performance escrows or reserves other
than those required pursuant to the specific terms of the Loan Documents and for which there is no lender discretion;

 

(xi)         
approval of the termination, engagement or replacement of any property manager or parking manager, to the extent the lender’s
approval is required by the Loan Documents;

 

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

 

(xiii)      
any determination of an Acceptable Insurance Default under the Loan Documents;

 

(xiv)     
any proposed modification or waiver of any provision of the Loan Documents with respect to the Whole Loan governing the
types, nature or amount of insurance coverage required to be obtained and maintained;

 

(xv)      
approval of casualty/condemnation insurance settlements, any determination to apply casualty proceeds or condemnation awards
to the reduction of the debt evidenced by the Whole Loan rather than to the restoration of the Property other than pursuant to
the specific terms of the Whole Loan;

 

     -35-

     

    

 

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

 

(xvii)    
any determination by the Servicer or the Special Servicer to transfer the Whole Loan to the Special Servicer with respect
to any Whole Loan default or Loan Event of Default that is anticipated but has not yet occurred; and

 

(xviii)    any release of the Borrower or of any guarantor or indemnitor from liability under the Loan Documents.

 

“Majority Controlling
Class Certificateholder”: The Holder(s) of Certificates representing more than 50% of the aggregate Certificate Balance
of the Controlling Class that are not Holders of the RR Interest.

 

“Manager”:
As defined in the Loan Agreement.

 

“Material Breach”:
As defined in Section 2.8(a).

 

“Material Document
Defect”: As defined in Section 2.8(a).

 

“Maturity Date”:
February 10, 2029.

 

“Modification
Fees”: With respect to the Whole Loan, any and all fees collected from the Borrower with respect to a modification, extension,
waiver or amendment that modifies, extends, amends or waives any term of the Loan Documents (as evidenced by a signed writing)
agreed to by the Servicer or the Special Servicer, other than (a) any assumption fees, substitution fees, consent fees or
assumption application fees, (b) any fee in connection with a defeasance of the Whole Loan and (c) Special Servicing
Fees, Work-out Fees and Liquidation Fees.

 

“Monthly Debt
Service Payment Amount”: The monthly payment of interest and principal, if any, required to be made by the Borrower on
the Trust Loan in the amount set forth in the Loan Agreement.

 

“Monthly Payment”:
With respect to the Trust Loan or Whole Loan, as applicable and any Distribution Date, the scheduled payment on the Trust Loan
or Whole Loan, as applicable pursuant to the Loan Agreement, including any Balloon Payment that is due and payable on the immediately
preceding Loan Payment Date.

 

“Monthly Payment
Advance”: Any advance in respect of the Trust Loan only made by the Servicer or the Trustee pursuant to Section 3.23(a)
or Section 3.23(c), as applicable. Each reference to the reimbursement or payment of a Monthly Payment Advance shall be
deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through
the date preceding the date of payment or reimbursement. Neither the Servicer nor the Trustee shall be required to make principal
and/or interest advances with respect to any Companion Loan, and the term “Monthly Payment Advance” shall be operative
only in respect of the Trust Loan.

 

“Moody’s”:
Moody’s Investors Service, Inc., and its successor in interest.

 

     -36-

     

    

 

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

 

“Mortgage”:
The Security Instrument, as such term is defined in the Loan Agreement.

 

“Mortgage File”:
As defined in Section 2.1(b) and any additional documents required to be added to the Mortgage File pursuant to this
Agreement.

 

“Natixis Securities
Americas”: Natixis Securities Americas LLC.

 

“Net Foreclosure
Proceeds”: With respect to any Foreclosed Property, the Foreclosure Proceeds with respect to such Foreclosed Property
net of any insurance premiums, taxes, assessments, ground rents, leasehold rents and other costs permitted to be paid therefrom
pursuant to Section 3.14.

 

“Net Investment
Earnings”: With respect to any Investment Account for any period from any Distribution Date to the immediately succeeding
Remittance Date, the amount, if any, by which the aggregate of all interest and other income realized during such period on funds
relating to the Trust Fund held in such account, exceeds the aggregate of all losses, if any, incurred during such period in connection
with the investment of such funds in accordance with Section 3.8.

 

“Net Liquidation
Proceeds”: The excess of Liquidation Proceeds received with respect to the Property or the Whole Loan, as the case may
be, over the amount of Liquidation Expenses incurred with respect thereto.

 

“Net Mortgage
Rate”: With respect to any Distribution Date and the Trust Loan, the annualized rate at which interest would have to
accrue in respect of the Trust Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate
amount of interest (net of the related Servicing Fee, the CREFC® Intellectual Property Royalty License Fee and the
Certificate Administrator Fee (including the portion that is the Trustee Fee) and exclusive of Default Interest with respect to
the Trust Loan) actually accrued on the Trust Loan during the related Loan Interest Accrual Period; provided that for purposes
of calculating Pass-Through Rates, the Net Mortgage Rate will be determined without regard to any modification, waiver or amendment
of the terms of the Whole Loan, whether agreed to by the Servicer, the Special Servicer or resulting from a bankruptcy, insolvency
or similar proceeding involving the Borrower or otherwise; provided, further, however, that for purposes of
calculating Pass-Through Rates (i) the Net Mortgage Rate for the Loan Interest Accrual Period preceding the Loan Payment Dates
in (a) January and February in each year that is not a leap year or (b) in February only in each year that is a leap year (unless
the related Distribution Date is the final Distribution Date), shall be the annualized rate at which interest would have to accrue
on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest (net of
the related Servicing Fee, the CREFC® Intellectual Property Royalty License Fee and the Certificate Administrator
Fee (including the portion that is the Trustee Fee) and exclusive of Default Interest with respect to the Trust Loan) actually
accrued on the Trust Loan during such Loan Interest Accrual Period, minus the applicable Withheld Amount and (ii) the Net Mortgage
Rate for the Loan Interest Accrual Period preceding the Loan Payment Date in

 

     -37-

     

    

 

March (or February, if the related Distribution Date
is the final Distribution Date), shall be the annualized rate at which interest would have to accrue on the basis of a 360-day
year consisting of twelve 30-day months in order to produce the aggregate amount of interest (net of the related Servicing Fee,
the CREFC® Intellectual Property Royalty License Fee and the Certificate Administrator Fee (including the portion
that is the Trustee Fee) and exclusive of Default Interest with respect to the Trust Loan) actually accrued on the Trust Loan during
such Loan Interest Accrual Period, plus the applicable Withheld Amounts.

 

“Net Proceeds”:
As defined in the Loan Agreement.

 

“Nondisqualification
Opinion”: An Opinion of Counsel, prepared at the Trust Fund’s expense and payable from the Collection Account,
that a contemplated action will not cause (i) either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a
REMIC at any time that any Certificates are outstanding or (ii) a “prohibited transaction” or “prohibited
contributions” tax to be imposed on either the Lower-Tier REMIC or the Upper-Tier REMIC at any time that any Certificates
are outstanding.

 

“Nonrecoverable
Advance”: With respect to the Trust Loan, the Whole Loan or the Property, as applicable, any portion of an Advance previously
made and not previously reimbursed, or proposed to be made, including interest thereon, which, in accordance with Accepted Servicing
Practices (in the case of the Servicer) or good faith and reasonable business judgment (in the case of the Trustee) would not be
ultimately recoverable from subsequent payments or collections (including Foreclosure Proceeds, Condemnation Proceeds, Insurance
Proceeds not otherwise required to be distributed in connection with a restoration of the Property pursuant to this Agreement or
the Loan Agreement or Liquidation Proceeds) in respect of the Trust Loan, the Whole Loan or the Property, as applicable, or from
funds related to the Trust Loan, the Whole Loan or the Property, as applicable, on deposit in the Collection Account pursuant to
Section 3.4(c). The Trustee may rely conclusively upon a determination of non-recoverability made by the Servicer. In making
such non recoverability determination, the Servicer or the Trustee, as applicable, shall be entitled to consider (among other things)
the obligations of the Borrower under the terms of the Trust Loan, the Whole Loan or the Property, as applicable, as it may have
been modified, to consider (among other things) the Property in its “as is” or then current condition and occupancy,
as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to the
Property, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing
of recoveries and shall be entitled to give due regard to the existence of any Nonrecoverable Advances and Senior Companion Loan
Advances that, at the time of such consideration, the recovery of which are being deferred or delayed by the Servicer, in light
of the fact that amounts collected in respect of the Trust Loan, the Whole Loan or the Property, as applicable, as to which such
Advance or Senior Companion Loan Advance was made, whether in the form of late payments, Insurance Proceeds, Condemnation Proceeds,
Liquidation Proceeds or otherwise from the Trust Loan, the Whole Loan or the Property, as applicable, are a source of recovery
not only for the Advance under consideration but also a potential source of recovery for such delayed or deferred Advance or Senior
Companion Loan Advance.

 

“Non-Book Entry
Certificates”: As defined in Section 5.2(c).

 

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“Non-Trust A
Notes”: As defined in the Introductory Statement.

 

“Non-Trust B
Notes”: As defined in the Introductory Statement.

 

“Non-U.S. Beneficial
Ownership Certification”: As defined in Section 5.3(f).

 

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

 

“Note”:
As defined in the Introductory Statement.

 

“Note A-1”:
As defined in the Introductory Statement.

 

“Note A-2”:
As defined in the Introductory Statement.

 

“Note A-3”:
As defined in the Introductory Statement.

 

“Note A-4”:
As defined in the Introductory Statement.

 

“Note A-5”:
As defined in the Introductory Statement.

 

“Note A-B”:
As defined in the Introductory Statement.

 

“Note B-1”:
As defined in the Introductory Statement.

 

“Note B-1 Control
Appraisal Period”: If, and for so long as, (a)(I)(1) the initial outstanding principal balance of Note B-1
Note 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 Whole Loan that is allocated to Note B-1 and (z) any losses realized with respect to the Property or the Whole Loan that are
allocated to Note B-1 plus (3) the Threshold Event Collateral then held by the Servicer, is less than (II) 25% of the remainder
of the (x) initial outstanding principal balance of Note B-1 less (y) any payments of principal (whether as principal prepayments
or otherwise) allocated to, and received by, the holder of Note B-1 on Note B-1 after the date of creation of Note B-1; or (b)
any interest in such Note is held by the Borrower or a Borrower Related Party, or the Borrower or Borrower Related Party would
otherwise be entitled to exercise the rights of the holder of Note B-1 Holder as the Controlling Note Holder.

 

“Note B-2”:
As defined in the Introductory Statement.

 

“Note B-2 Control
Appraisal Period”: If, and for so long as, (a)(I)(1) the initial outstanding principal balance of Note B-2 Note
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 Whole
Loan that is allocated to Note B-2 and (z) any losses realized with respect to the Property or the Whole Loan that are allocated
to Note B-2 plus (3) the Threshold Event Collateral then held by the Servicer, is less than (II) 25% of the remainder of
the (x) initial outstanding principal balance of Note B-2 less (y) any payments of principal (whether as

 

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principal prepayments
or otherwise) allocated to, and received by, the holder of Note B-2 on Note B-2 after the date of creation of Note B-2; or (b)
any interest in such Note is held by the Borrower or a Borrower Related Party, or the Borrower or Borrower Related Party would
otherwise be entitled to exercise the rights of Note B-2 Holder as the Controlling Note Holder.

 

“Note Rate”:
With respect to each Note, the rate at which interest accrues on such Note, as applicable, which (i) with respect to the Trust
A Note is a per annum rate of 4.43598540291971% (without giving effect to any Default Rate or any increase in interest rate),
(ii) with respect to the Non-Trust A Notes is a per annum rate of 4.43598540291971% (without giving effect to any Default
Rate or any increase in interest rate), (iii) with respect to the Trust A-B Note is a per annum rate of 4.43598540291971%
(without giving effect to any Default Rate or any increase in interest rate), (iv) with respect to Note B-1 is a per annum rate
of 4.8000% (without giving effect to any Default Rate or any increase in interest rate), and (v) with respect to Note B-2 is a
per annum rate of 5.9500% (without giving effect to any Default Rate or any increase in interest rate).

 

“Notional Amount”:
As of any date of determination, subject to the next sentence: (i) with respect to the Class X Regular Interest, the related Class
X Notional Amount as of such date of determination and (ii) with respect to the Class X Certificates, the product of the Class
X Notional Amount of the Class X Regular Interest and the Class X Percentage Interest as of such date of determination. The initial
and then-current Certificate Balance or Notional Amount, as applicable, of each Class of Certificates subject to exchange in accordance
with Section 5.8 will be subject to re-designation as between the applicable Classes pursuant to Section 5.8.

 

“NREC”:
As defined in the Introductory Statement hereto.

 

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

 

“NRSRO Certification”:
A certification (a) in the form of Exhibit L executed by an NRSRO or (b) provided electronically and executed by such
NRSRO by means of a “click-through” confirmation on the 17g-5 Information Provider’s website in favor of the
17g-5 Information Provider that states (i) that such NRSRO is a Rating Agency, or (ii) that such NRSRO has provided the Depositor
with the appropriate certifications under Exchange Act Rule 17g-5(e), that such NRSRO has access to the Depositor’s
17g-5 website and that any confidentiality provisions relating to information on the Depositor’s 17g-5 website apply equally
to information on the Certificate Administrator’s Website and the 17g-5 Information Provider’s website.

 

“Offering Circular”:
That certain Confidential Offering Circular, dated as of March 26, 2019, relating to the offering of the Certificates.

 

“Officer’s
Certificate”: A certificate signed by (i) the Chairman of the Board, the Vice Chairman of the Board, the President
or a Vice President (however denominated), the Treasurer, the Secretary, one of the Assistant Treasurers or Assistant Secretaries
(ii) any Servicing Officer, Responsible Officer or other officer of the Servicer, the Special Servicer, the

 

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Depositor, the
Loan Seller or any other entity referred to herein, as the case may be, customarily performing functions similar to those performed
by any of the above designated officers and also with respect to a particular matter, any other officer to whom such matter is
referred because of such officer’s knowledge of and familiarity with the particular subject and (iii) with respect to
the Certificate Administrator and the Trustee, any Responsible Officer.

 

“Opinion of
Counsel”: A written opinion of counsel, who may, without limitation, be counsel for the Depositor, the Servicer or the
Special Servicer, reasonably acceptable to the Trustee and the Certificate Administrator.

 

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

 

“Origination
Date”: February 8, 2019.

 

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

 

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

 

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

 

“Other Servicer”:
The applicable other “master servicer” under any Other Pooling and Servicing Agreement relating to a Companion Loan.

 

“Other Special
Servicer”: The applicable other “special servicer” under any Other Pooling and Servicing Agreement relating
to a Companion Loan.

 

“Other Trustee”:
The applicable other “trustee” under any Other Pooling and Servicing Agreement related to a Companion Loan.

 

“Parking Manager”:
As defined in the Loan Agreement.

 

“Pass-Through
Rate”: With respect to (i) the Class A Certificates and the Class A Regular Interest, the Class A Pass-Through
Rate; (ii) the Class X Certificates and the Class X Regular Interest, the Class X Pass-Through Rate; (iii) the Class B
Certificates and the Class B Regular Interest, the Class B Pass-Through Rate; (iv) the Class C Certificates and
the Class C Regular Interest, the Class C Pass-Through Rate; (v) the Class D Certificates and the Class D Regular
Interest, the Class D Pass-Through Rate; and (vi) each Uncertificated Lower-Tier Interest, the Net Mortgage Rate, which,
in each case, interest accrues at such per annum rate on the Certificate Balance, Notional Balance or Lower-Tier Principal
Amount, as applicable, of such Class as set forth in the Introductory Statement.

 

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The Class V Certificates
will not have a Pass-Through Rate, but (i) the Class V-ABC Certificates will be entitled to receive the Class V-ABC Percentage
Interest of the sum of the interest distributable on the Class A, Class B, Class C and Class X Regular Interests, (ii) the Class
V-D Certificates will be entitled to receive the Class V-D Percentage Interest of the sum of the interest distributable on the
Class D Regular Interest, and (iii) the Class V2 Certificates will be entitled to receive the Class V2 Percentage Interest of the
sum of the interest distributable on the Regular Interests.

 

“Percentage
Interest”: As to any Certificate, the percentage interest evidenced thereby in distributions required to be made with
respect to the related Class. With respect to any Certificate (other than the Class R Certificates), the percentage interest
is equal to the Initial Certificate Balance or Initial Notional Amount of such Certificate divided by the Initial Certificate Balance
or Initial Notional Amount of all of the Certificates of the related Class. With respect to the Class R Certificates, the
percentage specified on the Certificate held by the Holder of such Certificate.

 

“Permitted Encumbrances”:
As defined in the Loan Agreement.

 

“Permitted Investments”:
Any one or more of the following obligations or securities, including those issued by the Servicer, the Certificate Administrator
or the Trustee or any of their respective Affiliates, that (x) are acquired at a purchase price not greater than par, (y) are payable
on demand or have a maturity date not later than the Business Day immediately prior to the first Loan Payment Date following the
date of acquiring such investment and (z) meet one of the appropriate standards set forth below:

 

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

 

(ii)         
time deposits, demand unsecured certificates of deposit, or bankers’ acceptances with maturities of not more than
365 days that are issued or held by any depository institution or trust company (including the Certificate Administrator) incorporated
or organized under the laws of the United States of America or any State thereof and subject to supervision and examination by
federal or state banking authorities

 

     -42-

     

    

 

which (A) in the case of such investments with maturities of 30 days or less, the short term
obligations of which are rated in the highest short term rating category by Moody’s or the long term obligations of which
are rated at least “A2” by Moody’s, (B) in the case of such investments with maturities of three months or less,
but more than 30 days, the short term obligations of which are rated in the highest short term rating category by Moody’s
or the long term obligations of which are rated at least “A2” by Moody’s (C) in the case of such investments
with maturities of six months or less, but more than three months, the short term obligations of which are rated in the highest
short term rating category by Moody’s and the long term obligations of which are rated at least “Aa3” by Moody’s
and (D) in the case of such investments with maturities of more than six months, the short term obligations of which are rated
in the highest short term rating category by Moody’s and the long term obligations of which are rated at least “Aaa”
by Moody’s (or, in each case, if permitted by the Whole Loan, if not rated by Moody’s, otherwise acceptable to Moody’s
and Morningstar, as confirmed in a Rating Agency Confirmation);

 

(iii)         
repurchase agreements or obligations with respect to any security described in clause (i) above where such security
has a remaining maturity of one year or less and where such repurchase obligation has been entered into with a depository institution
or trust company (acting as principal) described in clause (ii) above;

 

(iv)         
debt obligations bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United
States of America or any state thereof which mature in one year or less from the date of acquisition, which (A) in the case of
such investments with maturities of 30 days or less, the short term obligations of which are rated in the highest short term rating
category by Moody’s or the long term obligations of which are rated at least “A2” by Moody’s, (B) in the
case of such investments with maturities of three months or less, but more than 30 days, the short term obligations of which are
rated in the highest short term rating category by Moody’s and the long term obligations of which are rated at least “A2”
by Moody’s, (C) in the case of such investments with maturities of six months or less, but more than three months, the short
term obligations of which are rated in the highest short term rating category by Moody’s and the long term obligations of
which are rated at least “Aa3” by Moody’s, and (D) in the case of such investments with maturities of more than
six months, the short term obligations of which are rated in the highest short term rating category by Moody’s and the long
term obligations of which are rated “Aaa” by Moody’s; provided, however, that securities issued by any particular
corporation will not be Permitted Investments to the extent that investment therein will cause the then outstanding principal amount
of securities issued by such corporation and held in the accounts established hereunder to exceed 10% of the sum of the aggregate
principal balance and the aggregate principal amount of all Permitted Investments in such accounts;

 

(v)         
commercial paper (including both non-interest-bearing discount obligations and interest-bearing obligations) payable on
demand or on a specified date (i)(1) if maturing in three months or less, carries either a short term rating of “P-1”
by Moody’s or a long term rating of “A2” or better by Moody’s, (2) if maturing in six months or less but
more than three months, carries a short term rating of “P-1” by

 

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Moody’s and a long term rating of “Aa3”
or better by Moody’s and (3) if maturing in longer than six months, carries a short term rating of “P-1” by Moody’s
and a long term rating of “Aaa” by Moody’s or (ii) have such other ratings as confirmed in a Rating Agency Confirmation;

 

(vi)        
any money market fund that (a) has substantially all of its assets invested continuously in the types of investments referred
to in clause (i) above, (b) has net assets of not less than $5,000,000,000, (c) has a rating of “Aaa-mf” by Moody’s,
and (d) maintains a constant net asset value;

 

(vii)       
units of money market funds (including those managed or advised by the Trustee or its Affiliates) which maintain a constant
net asset value, such as the Wells Fargo Money Market Funds; provided that such units of money market funds are rated “Aaa-mf”
by Moody’s; and

 

(viii)    
any other demand, money market or time deposit, obligation, security or investment with respect to which Rating Agency Confirmation
has been obtained from each Rating Agency.

 

Notwithstanding the foregoing, “Permitted
Investments” (i) shall be limited to investments that have an unqualified rating (i.e., one with no qualifying suffix), with
the exception of ratings with regulatory indicators, such as the (sf) subscript, and unsolicited ratings; (ii) shall be limited
to those instruments that have a predetermined fixed dollar of principal due at maturity that cannot vary or change; (iii) shall
only include instruments that qualify as “cash flow investments” (within the meaning of Section 860G(a)(6) of the Code);
and (iv) shall exclude any investment where the right to receive principal and interest derived from the underlying investment
provides a yield to maturity in excess of 120% of the yield to maturity at par of such underlying investment. Interest may either
be fixed or variable, and any variable interest must be tied to a single interest rate index plus a single fixed spread (if any),
and move proportionately with that index. No investment shall be made which requires a payment above par for an obligation if the
obligation may be prepaid at the option of the issuer thereof prior to its maturity. All investments shall mature or be redeemable
upon the option of the holder thereof on or prior to the earlier of (x) three months from the date of their purchase and (y) the
Business Day preceding the day before the date such amounts are required to be applied hereunder.

 

“Permitted Special
Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, appraisal fees, banking fees or insurance
commissions or fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed
by such party with respect to the Whole Loan or any Foreclosed Property in accordance with this Agreement.

 

“Permitted Transferee”:
Any Person or agent of such Person other than (a) a Disqualified Organization, (b) any other Person so designated by
the Certificate Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such Person or the Person
requesting the transfer) to the effect that the transfer of an ownership interest in any Class R Certificate to such Person
will not cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC at any time that the Certificates are
outstanding, (c) a Disqualified

 

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Non-U.S. Person, (d) any partnership if any of its interests are (or under the partnership
agreement are permitted to be) owned, directly or indirectly (other than through a U.S. corporation), by a Non-U.S. Person or (e) a
U.S. Person with respect to whom income from the Class R Certificate is attributable to a foreign permanent establishment
or fixed base, within the meaning of an applicable income tax treaty, of the transferee or any other U.S. Person.

 

“Person”:
Any individual, corporation, limited liability company, partnership, joint venture, estate, trust, unincorporated association,
any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such
capacity on behalf of any of the foregoing.

 

“Plan”:
As defined in Section 5.3(n).

 

“Pre-close Information”:
As defined in Section 8.14(b).

 

“Prime Rate”:
The “prime rate” published in the “Money Rates” Section of The Wall Street Journal (and with respect to
Senior Companion Loan Advances, the rate set forth in the Senior Companion Loan Pooling and Servicing Agreement); if The Wall Street
Journal ceases to publish the “prime rate”, then the Servicer shall select an equivalent publication that publishes
such “prime rate”, and if such “prime rate” is no longer generally published or is limited, regulated or
administered by a governmental or quasi-governmental body, then the Servicer shall reasonably select a comparable interest rate
index.

 

“Principal Distribution
Amount”: For each Distribution Date and any Class of Regular Interests (other than the Class X Regular Interest) or Class
of Sequential Pay Certificates, the sum of (i) the Regular Principal Distribution Amount for such Distribution Date and such
Class and (ii) to the extent not paid on any prior Distribution Date, the aggregate Principal Shortfalls in respect of prior
Distribution Dates for such Class.

 

“Principal Shortfall”:
For each Distribution Date and any Class of Regular Interests (other than the Class X Regular Interest) or Class of Sequential
Pay Certificates, the amount by which the Regular Principal Distribution Amount for such Class exceeds the amount actually distributed
to such Class in respect of the principal on such Distribution Date.

 

“Privileged
Information”: Any (i) correspondence between the Directing Holder or the Risk Retention Consultation Party and the
Special Servicer related to the Specially Serviced Loan or the exercise of the Directing Holder’s consent or non-binding
consultation rights or the Risk Retention Consultation Party’s non-binding consultation rights under this Agreement, (ii) strategically
sensitive information that the Special Servicer has reasonably determined could compromise the Trust Fund’s position in any
ongoing or future negotiations with the Borrower or other interested party and (iii) information subject to attorney-client privilege.

 

“Privileged
Person”: The Depositor, the Initial Purchasers, the Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
each Companion Loan Holder, any person who provides the Certificate Administrator with an Investor Certification (including the
Directing Holder and the Risk Retention Consultation Party) and any NRSRO that delivers a NRSRO Certification to the Certificate
Administrator, which Investor Certification and NRSRO

 

     -45-

     

    

 

Certification may be submitted electronically via the Certificate Administrator’s
Website. For purposes of receiving any information or report from the Certificate Administrator’s Website, other than Distribution
Date Statements only, each Borrower Related Party (as evidenced by its submission of an Investor Certification in the form of Exhibit
J-2 hereto) shall be deemed to not be a “Privileged Person” as defined herein.

 

“Property”:
The property securing the Whole Loan as such term is defined in the Loan Agreement.

 

“Property Protection
Advances”: As defined in Section 3.23(b).

 

“QIB”:
A “qualified institutional buyer” within the meaning of Rule 144A.

 

“Qualified Bidder”:
As defined in Section 7.2(b).

 

“Qualified Mortgage”:
As defined in Section 2.8(a).

 

“Qualified Replacement
Special Servicer”: A replacement special servicer that satisfies all of the eligibility requirements applicable to the
Special Servicer set forth in Section 2.5 and Section 3.10(b), unless expressly approved by 100% of the Certificateholders.

 

“Rated Final
Distribution Date”: The Distribution Date occurring in February 2039.

 

“Rating Agencies”:
Moody’s and Morningstar, as applicable.

 

“Rating Agency
Confirmation”: With respect to any matter, obtaining confirmation in writing (which may be in electronic format) by a
Rating Agency that a proposed action, failure to act or other specified event 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 such Rating Agency)
immediately prior to the occurrence of the action, failure to act or other event with respect to which Rating Agency Confirmation
is sought; provided that a written waiver or acknowledgment (which may be in electronic format) from such Rating Agency
indicating its decision not to review or decline to review the matter for which such Rating Agency Confirmation is sought shall
be deemed to satisfy the requirement for the Rating Agency Confirmation from such Rating Agency with respect to such matter. With
respect to any matter affecting the Companion Loans (if Senior Companion Loan Securities exist), the Rating Agency Confirmation
shall also refer to the nationally recognized statistical rating organizations then rating the securities representing an interest
in such Companion Loan Securities and such rating organizations’ respective ratings of such Companion Loan Securities.

 

“Rating Agency
Inquiry”: As defined in Section 4.5(d).

 

“Rating Agency
Q&A Forum and Document Request Tool”: As defined in Section 4.5(d).

 

“Realized Loss”:
With respect to any Distribution Date, the amount, if any, by which (i) the aggregate of the Certificate Balances of Regular
Interests (other than the Class X

 

     -46-

     

    

 

Regular Interest) or Class of the Sequential Pay Certificates after giving effect to distributions
made on such Distribution Date exceeds (ii) the Loan Principal Balance of the Trust Loan after giving effect to (a) any
payments of principal received with respect to the Loan Payment Date occurring immediately prior to such Distribution Date and
(b) the aggregate reductions of the principal balance of the Trust Loan that have been permanently made as a result of a bankruptcy
proceeding, modification or otherwise.

 

“Record Date”:
With respect to any Distribution Date, the close of business on the last day of the calendar month preceding the month in which
such Distribution Date occurs, or, if such last day is not a Business Day, the preceding Business Day.

 

“Regular Certificates”:
The Class A, Class X, Class B, Class C and Class D Certificates.

 

“Regular Interests”:
The Class A, Class X, Class B, Class C and Class D Regular Interests.

 

“Regular Interest
Distribution Account”: As defined in Section 3.5.

 

“Regular Principal
Distribution Amount”: For each Distribution Date and any Class of Regular Interests (other than the Class X Regular Interest)
or Class of Sequential Pay Certificates, will equal (i) all amounts collected or advanced in respect of principal with respect
to the Trust Loan during the related Collection Period, and (ii) all amounts received during the related Collection Period
in respect of principal on the Trust Loan of any Repurchase Price, all amounts allocated to principal on the Trust Loan from Net
Liquidation Proceeds, Condemnation Proceeds, Net Foreclosure Proceeds or Insurance Proceeds (other than amounts related to clause (b)
of the definition of Insurance Proceeds necessary to be applied to the restoration, preservation or repair of the Property or to
be released to the Borrower in accordance with the Loan Documents) or otherwise in respect of principal received on the Trust Loan,
in the case of either clause (i) or (ii), that would be allocated to such Class if distributed to the Holders in Sequential
Order to reduce the outstanding Certificate Balance of each Class to zero. For the avoidance of doubt, all amounts in respect of
principal received by the Servicer or the Special Servicer in respect of a Repurchase Price shall be treated as part of the Regular
Principal Distribution Amount.

 

“Regulation
AB”: Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100-229.1125,
as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission
or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. Each of the parties
hereto acknowledge that the Regulation AB provisions herein shall be construed as if the Certificates were publicly registered
and reporting were required at all times, in each case as effective from time to time as of the compliance dates specified herein.

 

“Regulation
RR” means the Credit Risk Retention regulations, 79 Fed. Reg. 77601, pages 77740-77766 (Dec. 24, 2014), jointly promulgated
by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, the Federal Housing Finance Agency, the Securities and

 

     -47-

     

    

 

Exchange Commission, and the Department of Housing and Urban
Development (the “Agencies”) to implement the credit risk retention requirements under Section 15G of the Securities
Exchange Act of 1934 (as added by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act), as such regulations
may be amended from time to time by such Agencies, and subject to such clarification and interpretation as have been provided by
such Agencies, whether in the adopting release, or as may be provided by any such Agency or its staff from time to time, in each
case, as effective from time to time as of the applicable compliance date specified therein.

 

“Regulation S”:
Regulation S under the Act.

 

“Regulation S
Global Certificate”: As defined in Section 5.2(a).

 

 

 

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

 

	
        Related
Certificates
	
        Related
Uncertificated

Lower-Tier Interest
	
        Related
Class X

 Component

	Class A Certificates	Class LA Uncertificated Interest	Class A Component
	Class B Certificates	Class LB Uncertificated Interest	Class B Component
	Class C Certificates	Class LC Uncertificated Interest	Class C Component
	Class D Certificates	Class LD Uncertificated Interest	N/A

 

“Relevant Distribution
Date” means with respect to any “significant obligor” (within the meaning of Item 1101(k) of Regulation AB)
with respect to a Senior Companion Loan Securitization holding a Senior Companion Loan, the “Distribution Date” (or
analogous concept) under the related Senior Companion Loan Pooling and Servicing Agreement.

 

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

 

“REMIC Provisions”:
Provisions of the Code relating to “real estate mortgage investment conduits,” including Sections 860A through
860G of the Code and any related Treasury regulations or announcements.

 

“Remittance
Amount”: For each Distribution Date that the Servicer is required to make a distribution to a Companion Loan Holder pursuant
to Section 3.4(e), the amounts received by the Servicer (or, with respect to a serviced Foreclosed Property, the Special
Servicer) during the related Collection Period pursuant to the Co-Lender Agreement and available for payment to the Companion Loan
Holders pursuant to the Co-Lender Agreement.

 

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

 

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“Rents from
Real Property”: With respect to any Foreclosed Property, gross income of the character described in Section 856(d)
of the Code.

 

“REO Management
Fee”: As to the Property when it is a Foreclosed Property, a fee payable out of the Foreclosed Property Account to the
Successor Manager for managing such property while it is owned by the Trust Fund, which shall be reasonable and customary in the
market in which the Property is located.

 

“REO Property”:
The 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.

 

“Reporting Servicer”:
The Servicer, the Special Servicer or a Servicing Function Participant engaged by any such party, as the case may be.

 

“Repurchase
Price”: With respect to the Trust Loan or Whole Loan, as applicable, an amount (without duplication) equal to the sum
of (i) the unpaid principal balance of the Trust Loan or Whole Loan, as applicable, (ii) accrued and unpaid interest
on the Trust Loan or the Whole Loan, as applicable, at the Note Rate (exclusive of the Default Rate) to and including the last
day of the related Loan Interest Accrual Period in which the repurchase is to occur, (iii)  unreimbursed Property Protection
Advances and Administrative Advances, together with interest on such Advances, (iv) an amount equal to all interest on outstanding
Monthly Payment Advances and with respect to the Whole Loan, on outstanding Senior Companion Loan Advances, (v) any unpaid
Trust Fund Expenses and (vi) any other out-of-pocket expenses reasonably incurred or expected to be incurred by the Servicer,
the Special Servicer, the Certificate Administrator or the Trustee arising out of the enforcement of the repurchase obligation.
No Liquidation Fee shall be paid by the Loan Seller in connection with a repurchase of the Trust Loan due to a Material Breach
or Material Document Defect pursuant to the Loan Purchase Agreement if such repurchase occurs within the time period required by
the Loan Purchase Agreement.

 

For purposes of this
Agreement (including, without limitation, Section 3.16 hereof), the “Repurchase Price” in respect of the
Defaulted Loan or in respect of Foreclosed Property, in the context of a sale of REO Property or a Specially Serviced Loan (to
a party other than a Companion Loan Holder), shall include (i) the aggregate principal balances of the Companion Note Notes (as
of the date of the sale), (ii) aggregate accrued and unpaid interest on the Companion Notes principal balance at the related Note
Interest Rate, up to (but excluding) the date of sale and if such date of sale is not a Loan Payment Date, up to (but excluding)
the Loan Payment Date next succeeding the date of sale, provided payment is made in good funds by 2:00 p.m. New York local time,
(iii) any unreimbursed Companion Loan Holder advances and interest thereon at the Advance Rate (but excluding any amounts already
covered in clause (ii) above) and (iv) any unreimbursed costs incurred by a Companion Loan Holder.

 

“Repurchase
Request”: With respect to the Trust Loan, any request or demand whether oral or written that the Trust Loan be repurchased
or replaced, whether arising from a Material Breach or Material Document Defect or other breach of a representation or warranty.

 

     -49-

     

    

 

“Repurchased
Note”: As defined in Section 3.29(a).

 

“Repurchase
Request Recipient”: As defined in Section 2.2(e).

 

“Requesting
Holders”: As defined in Section 3.7(e).

 

“Requesting
Party”: As defined in Section 3.27(a).

 

“Required Advance
Amount”: With respect to any Distribution Date, an amount equal to (a) the aggregate amount of the Monthly Payment
Advances with respect to the Trust Loan (taking into account any Appraisal Reduction Amount as of such Distribution Date for the
Trust Loan) that would be required to be made on the related Remittance Date by the Servicer pursuant to this Agreement had the
Borrower not made any portion of its Monthly Payments in respect of the Trust Loan for the related Loan Payment Date less (b) the
aggregate compensation payable to the Servicer in respect of the aggregate Servicing Fee and the Certificate Administrator in respect
of the aggregate Certificate Administrator Fee (including that portion of which is the Trustee Fee) on such Remittance Date with
respect to the Trust Loan.

 

“Reserve Account”:
Any reserve account required to be maintained under the Loan Agreement.

 

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

 

“Responsible
Officer”: With respect to (i) the Trustee, any director, vice president, assistant vice president, assistant secretary,
treasurer, assistant treasurer, trust officer or any other officer of the Corporate Trust Office of the Trustee, customarily performing
functions similar to those performed by any of the above-designated officers with direct responsibility for the administration
of this Agreement and also, with respect to a particular matter, whom such matter is referred and (ii) the Certificate Administrator,
any officer assigned to the Corporate Trust Services group, with direct responsibility for the administration of this Agreement
and also, with respect to a particular matter, any other officer to whom a particular matter is referred by the Certificate Administrator
because of such officer’s knowledge of and familiarity with the particular subject, and in the case of any certification
or other document required to be signed by a Responsible Officer, an authorized signatory whose name and specimen signature appears
on a list furnished to the Servicer or the Special Servicer, as applicable, by the Trustee or the Certificate Administrator, as
applicable, as such list may from time to time be amended.

 

“Restricted
Holder”: Any Certificateholder, Beneficial Owner of a Certificate or prospective purchaser of a Certificate (whether
legally, beneficially or otherwise) that is also a holder of a related mezzanine loan (or any affiliate or agent thereof) or an
owner in any interest in the any related mezzanine loan (whether legally, beneficially or otherwise, including as a holder of a
note evidencing a related mezzanine loan, a holder of a participation interest in a related mezzanine loan or a Beneficial Owner
of any securities collateralized by a mezzanine loan) (a) as to which an event of default has occurred under such mezzanine loan
giving rise to an automatic acceleration of such mezzanine loan or the right of the lender thereunder to accelerate such mezzanine
loan or (b) as to which foreclosure proceedings against the related

 

     -50-

     

    

 

collateral have been initiated (and in respect of which, the
Special Servicer has received notice thereof).

 

“Restricted
Period”: As defined in Section 5.2(a).

 

“Retaining Party”:
NREC, acting as Holder of the RR Interest, and any successor Holder of all or part of the RR Interest.

 

“Retaining Sponsor”:
NREC, acting as retaining sponsor as such term is defined under § 246.2(b) of Regulation RR.

 

“Risk Retention
Consultation Party”: The Risk Retention Consultation Party shall be the party selected by the Holders of more than 50%
of the RR Interest by Certificate Balance, as determined by the Certificate Registrar from time to time. The Depositor shall promptly
provide the name and contact information for the initial Risk Retention Consultation Party upon request of any party to this Agreement
and any such requesting party may conclusively rely on the name and contact information provided by the Depositor. The Certificate
Administrator and the other parties hereto shall be entitled to assume that the identity of the Risk Retention Consultation Party
has not changed until such parties receive written notice of a replacement of the Risk Retention Consultation Party from a party
holding the requisite interest in the RR Interest (as confirmed by the Certificate Registrar). The initial Risk Retention Consultation
Party shall be NREC.

 

In the event that no
Risk Retention Consultation Party has been appointed or identified to the Servicer or the Special Servicer, as applicable, and
the Servicer or the Special Servicer, as applicable, has attempted to obtain such information from the Certificate Administrator
and no such entity has been identified to the Servicer or the Special Servicer, as applicable, then until such time as the new
Risk Retention Consultation Party is identified, the Servicer or the Special Servicer, as applicable, shall have no duty to consult
with, provide notice to, or seek the approval or consent of any such Risk Retention Consultation Party as the case may be.

 

“RR Interest”:
Collectively, the Certificates described in the following table (as such Certificates may be exchanged as provided for in Section
5.8):

 

	
        Class
	
        Initial
Certificate Balance/

Initial Notional Amount to be 

Retained

	Class A 	$4,695,500
	Class X 	$6,830,000
	Class B 	$1,214,500
	Class C 	$920,000
	Class D 	$3,120,000

 

“Rule 15Ga-1”:
Rule 15Ga-1 under the Exchange Act.

 

“Rule 15Ga-1
Notice”: As defined in Section 2.2(d).

 

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“Rule 144A”:
As defined in Section 5.2(b).

 

“Rule 144A
Global Certificate”: As defined in Section 5.2(b).

 

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

 

“Sarbanes-Oxley
Certification”: With respect to a Senior Companion Loan Securitization Trust, the certification required to be filed
together with such Senior Companion Loan Securitization Trust’s Exchange Act report on Form 10-K pursuant to Rule 13a-14
and Rule 15d-14 of the Exchange Act.

 

“Senior Companion
Loans”: As defined in the Introductory Statement.

 

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

 

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

 

“Senior Companion
Loan Exchange Act Reporting Party”: With respect to any Senior Companion Loan Securitization Trust that is subject to
the reporting requirements of the Exchange Act, the trustee, certificate administrator, master servicer, special servicer or depositor
under the related Senior Companion Loan Pooling and Servicing Agreement that is responsible for the preparation and/or filing of
Form 15G, Form 8-K, Form 10-D and Form 10-K with respect to such Senior Companion Loan Securitization Trust, as identified in writing
to the parties to this Agreement; and, with respect to any Senior Companion Loan Securitization Trust that is not subject to the
reporting requirements of the Exchange Act and for the purposes of Sections 13.7, 13.8, 13.9 and 13.16
only, the trustee, certificate administrator, master servicer, special servicer or depositor under the related Senior Companion
Loan Pooling and Servicing Agreement that is responsible for the preparation and/or dissemination of periodic distribution date
statements or similar reports, as identified in writing to the parties to this Agreement.

 

“Senior Companion
Loan Holder”: The holder of any Senior Companion Loan.

 

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

 

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

 

     -52-

     

    

 

“Senior Companion
Loan Rating Agency Confirmation”: With respect to any matter involving the servicing and administration of any Senior
Companion Loan as to which any Senior Companion Loan Securities exist, confirmation in writing (which may be in electronic form)
by each applicable Senior Companion Loan 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
such Senior Companion Loan Securities (if then rated by such Senior Companion Loan Rating Agency); provided that upon receipt
of a written waiver or other acknowledgment from the Senior Companion Loan Rating Agency indicating its decision not to review
or declining to review the matter for which the Senior Companion Loan Rating Agency Confirmation is sought (such written notice,
a “Senior Companion Loan Rating Agency Declination”), or as otherwise provided in Section 3.27(a)
of this Agreement, the requirement for the Senior Companion Loan Rating Agency Confirmation from the applicable Senior Companion
Loan Rating Agency with respect to such matter shall not apply.

 

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

 

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

 

“Senior Companion
Loan Service Provider”: If a Companion Loan has been deposited into a securitization trust, the related Other Trustee,
Other Servicer, Other Special Servicer, any sub-servicer and any other Person that makes principal and/or interest advances in
respect of a Senior Companion Loan pursuant to the related Senior Pooling and Servicing Agreement.

 

“Sequential
Order”: (i) With respect to payments in respect of principal of the Regular Interests (other than the Class X Regular
Interest) on any Distribution Date, the Class A, Class B, Class C and Class D Regular Interests, in that order; and (ii) with
respect to payment in respect of interest on the Regular Interests on any Distribution Date, the Class A and Class X Regular Interests,
on a pro rata basis, based on each Class’s respective Interest Distribution Amount for such Distribution Date, and
then sequentially to the Class B, Class C and Class D Regular Interests, in that order; in each case, such payments shall be made
under clauses (i) and (ii) until the principal or interest, as applicable, to which each such Class is entitled
is paid in full.

 

“Sequential
Pay Certificates”: The Certificates other than the Class X and Class R Certificates.

 

“Servicer”:
KeyBank National Association, in its capacity as servicer, or its successor in interest, or if any successor servicer is appointed
as herein provided, such successor servicer.

 

“Servicer Customary
Expenses”: As defined in Section 3.17(a)

 

     -53-

     

    

 

“Servicer Investment
Personnel”: As defined in Section 6.5(a).

 

“Servicer Servicing
Personnel”: As defined in Section 6.5(a).

 

“Servicer Termination
Event”: As defined in Section 7.1(a).

 

“Service(s)”
or “Servicing”: In accordance with Regulation AB, the act of servicing and administering the Whole Loan or any
other assets of the Trust by an entity (other than the Certificate Administrator or Trustee) that meets the definition of “servicer”
set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB.
For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants
in the commercial mortgage-backed securities industry.

 

“Servicing Criteria”:
The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from time to time and
which as of the Closing Date are listed on Exhibit K hereto.

 

“Servicing Fee”:
With respect to the Whole Loan and Foreclosed Property, a fee payable monthly to the Servicer pursuant to Section 3.17
which will accrue at the Servicing Fee Rate, computed on the basis of the same principal amount, on the same interest accrual basis,
and for the same interest accrual period respecting which any related interest payment on the Whole Loan is (or would have been)
computed. For the avoidance of doubt, the Servicing Fee shall be deemed to be payable from the Lower-Tier REMIC.

 

“Servicing Fee
Rate”: With respect to the Trust Loan, at a per annum rate of 0.00125% and with respect to each Companion Loan,
a per annum rate of 0.00125%.

 

“Servicing Function
Participant”: Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Trustee, the Certificate
Administrator, the Servicer and the Special Servicer (or their respective employees), that is performing activities that address
the Applicable Servicing Criteria as of any date of determination.

 

“Servicing Officer”:
Any officer of the Servicer or the Special Servicer involved in, or responsible for, the administration and servicing of the Trust
Loan and/or a Companion Loan whose name and specimen signature appear on a list of servicing officers furnished to the Trustee
and the Certificate Administrator on the Closing Date by the Servicer or the Special Servicer, as applicable, in the form of an
Officer’s Certificate, as such list may from time to time be amended.

 

“Servicing-Released
Bid”: As defined in Section 7.2(b).

 

“Servicing-Retained
Bid”: As defined in Section 7.2(b).

 

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is 15 days after the Relevant Distribution Date occurring on or immediately following the
date on which financial statements for such calendar quarter are required to be delivered to the related

 

     -54-

     

    

 

lender under the related
Loan Documents. The parties to this Agreement acknowledge that in the event the Property securing a Companion Loan is a “significant
obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to a Senior Companion Loan Securitization that
includes such Companion Loan, the date on which quarterly financial statements are required to be delivered to the related lender
under the related Loan Documents is, with respect to net operating income information, 45 days following the end of each fiscal
quarter, subject to the terms of the related loan agreement.

 

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after the end
of such calendar year.

 

“Similar Law”:
As defined in Section 5.3(n).

 

“Special Notice”:
As defined in Section 5.6.

 

“Special Servicer”:
Situs Holdings, LLC, or its successor in interest, or if any successor Special Servicer is appointed as herein provided, such successor
Special Servicer.

 

“Special Servicer
Customary Expenses”: As defined in Section 3.17(a)

 

“Special Servicer
Investment Personnel”: As defined in Section 6.5.

 

“Special Servicer
Servicing Personnel”: As defined in Section 6.5.

 

“Special Servicer
Termination Event”: As defined in Section 7.1(a).

 

“Special Servicing
Fee”: With respect to any Specially Serviced Loan or Foreclosed Property, a fee payable monthly to the Special Servicer
equal to an amount computed on the basis of the same principal amount, on the same interest accrual basis, and for the same interest
accrual period respecting which any related interest payment on the Whole Loan or Foreclosed Property is (or would have been) computed,
at a rate of 0.25% per annum. Such fee shall be in addition to, and not in lieu of, any other fee or other sum payable
to the Special Servicer under this Agreement. For the avoidance of doubt, the Special Servicing Fee shall be deemed payable from
the Lower-Tier REMIC.

 

“Special Servicing
Loan Event”: With respect to the Whole Loan, (i) the Borrower has not made two consecutive Monthly Payments (and
has not cured at least one such delinquency by the next Loan Payment Date under the Loan Documents) in respect of the Whole Loan;
(ii) the Servicer and/or the Trustee has made three consecutive Monthly Payment Advances with respect to the Trust Loan (regardless
of whether such Monthly Payment Advances have been reimbursed); (iii) the Borrower fails to make the Balloon Payment when
due, and the Borrower has not delivered to the Servicer, on or before the due date of such Balloon Payment, a written refinancing
commitment letter of intent or term sheet, in each case from an acceptable lender or signed purchase agreement from an acceptable
purchaser and reasonably satisfactory in form and substance to the Servicer which provides that such refinancing or sale will occur
within 120 days after the date on which such Balloon Payment will become due (provided that a Special Servicing Loan Event
will occur if either (x) such refinancing does not occur before the expiration of the time period for refinancing specified
in

 

     -55-

     

    

 

such documentation or (y) the Servicer is required to make a Monthly Payment Advance at any time prior to such refinancing);
(iv) the Servicer has received notice that the Borrower has become the subject as debtor of any bankruptcy, insolvency or
similar proceeding, admitted in writing the inability to pay its debts as they come due or made an assignment for the benefit of
creditors; (v) the Servicer has received notice of a foreclosure of any lien on the Property securing the Whole Loan; (vi) the
Borrower has expressed in writing to the Servicer an inability to pay the amounts owed under the Whole Loan in a timely manner,
(vii) in the judgment of the Servicer (consistent with Accepted Servicing Practices), a default in the payment of principal
or interest under the Whole Loan is reasonably foreseeable; or (viii) a default under the Whole Loan of which the Servicer
has notice (other than a failure by the Borrower to pay principal or interest) and which materially and adversely affects the interests
of the Certificateholders or any Companion Loan Holder has occurred and remains unremedied beyond the expiration of the applicable
grace period specified in the Loan Documents (or, if no grace period is specified, 60 days); provided that, a Special Servicing
Loan Event shall cease (a) with respect to the circumstances described in clauses (i) and (ii) above, when the Borrower
has brought the Whole Loan current and thereafter made three consecutive full and timely Monthly Payments on the Whole Loan, including
pursuant to the workout of the Whole Loan, (b) with respect to the circumstances described in clauses (iv), (v), (vi),
(vii) and (viii) above, when such circumstances cease to exist in the judgment of the Servicer (consistent with Accepted Servicing
Practices), or (c) with respect to the circumstances described in clause (iii) above, when such default is cured by or
on behalf of the Borrower or waived by the Special Servicer (whether by modification of the Loan Documents or otherwise); provided,
in any case, that at that time no other circumstance exists (as described above) that would constitute a Special Servicing Loan
Event.

 

“Specially Serviced
Loan”: The Whole Loan during the occurrence of a Special Servicing Loan Event.

 

“Specific Grantor
Trust Assets”: The Class A Specific Grantor Trust Assets, Class X Specific Grantor Trust Assets, Class B Specific Grantor
Trust Assets, Class C Specific Grantor Trust Assets, Class D Specific Grantor Trust Assets, Class V-ABC Specific Grantor Trust
Assets, Class V-D Specific Grantor Trust Assets and Class V2 Specific Grantor Trust Assets.

 

“Startup Day”:
As defined in Section 12.1(c).

 

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

 

“Subordinate
Consultation Period”: means any period when both (i) the Certificate Balance of the Class D Certificates (taking into
account the application of Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such certificates), is less
than 25% of the Initial Certificate Balance of that Class but (ii) the Certificate Balance of the Class D

 

     -56-

     

    

 

Certificates (without
regard to the application of Appraisal Reduction Amounts allocated to that class) is equal to or greater than 25% of the Initial
Certificate Balance of that Class.

 

“Subordinate
Control Period”: With respect to the Class D Certificates and any date of determination, any period when the Certificate
Balance of the Class D Certificates on such date (taking into account the application of any Appraisal Reduction Amounts to notionally
reduce the Certificate Balance of the Class D Certificates) is at least 25% of the Initial Certificate Balance of the Class D Certificates.

 

“Sub-Servicer”:
Any Person that (i) Services the Whole Loan on behalf of the Servicer, Special Servicer or any Sub-Servicer and (ii) is
responsible for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of the servicing
functions required to be performed by the Servicer, Special Servicer, Servicing Function Participant or an Additional Servicer,
under this Agreement, with respect to the Whole Loan, that are identified in Item 1122(d) of Regulation AB.

 

“Successful
Bidder”: As defined in Section 7.2(b).

 

“Successor Manager”:
Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trust Fund or the Companion Loan Holders,
to serve as manager of the Foreclosed Property, which designation, as evidenced by written confirmation from each Rating Agency,
will not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates by such Rating Agency.

 

“Temporary Regulation S
Global Certificate”: As defined in Section 5.2(a).

 

“Terminated
Party”: As defined in Section 7.1(f).

 

“Terminating
Party”: As defined in Section 7.1(f).

 

“Threshold Event
Collateral”: As defined in the Co-Lender Agreement.

 

“Tranche Percentage
Interest”: With respect to any Class of Certificates is the ratio, expressed as a percentage, of (a) the initial denomination
of that Certificate to (b) the Initial Maximum Balance of that Class of Certificates.

 

“Transferee
Affidavit”: As defined in Section 5.3(o)(ii).

 

“Transferor
Letter”: As defined in Section 5.3(o)(ii).

 

“Treasury Note
Rate”: As defined in the Loan Agreement.

 

“Trust”:
The trust formed pursuant to this Agreement.

 

“Trust Fund”:
The corpus of the Trust created by this Agreement, consisting of (in each case, to the extent of the Trust Fund’s interest
therein and specifically excluding any interest of any Companion Loan Holder therein) (i) the Trust Loan, including the Trust Notes
together with the Mortgage File relating thereto; (ii) all scheduled and unscheduled payments on

 

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or collections in respect
of the Trust Notes; (iii) any Foreclosed Property and Foreclosed Property Account; (iv) all revenues received in respect
of any Foreclosed Property; (v) the Servicer’s, Special Servicer’s and the Trustee’s rights under the insurance
policies with respect to the Property required to be maintained pursuant to this Agreement and any proceeds thereof; (vi) any
Collateral Security Documents; (vii) any indemnities or guaranties given as additional security for the Trust Notes; (viii) all
funds deposited in the Collection Account, the Interest Reserve Account and the Distribution Account, including reinvestment income
thereon (except as otherwise provided herein); (ix) any Environmental Indemnity and any other environmental indemnity agreements
relating to the Property; (x) the rights and remedies of the Depositor under the Loan Purchase Agreement; (xi) the security
interest in the Reserve Accounts granted pursuant to Section 2.1; (xii) all other assets included or to be included
in the Lower-Tier REMIC for the benefit of the Upper-Tier REMIC; (xiii) the Uncertificated Lower-Tier Interests; (xiv) the Regular
Interests and (xv) the proceeds of any of the foregoing.

 

“Trust Fund
Expenses”: Any unanticipated and certain other default related expenses incurred by the Trust Fund (including, without
limitation, all interest on Advances and all Borrower Reimbursable Trust Fund Expenses, to the extent not reimbursed by the Borrower)
and all other amounts (such as indemnification payments), in each case, permitted to be retained, reimbursed or withdrawn and remitted
by the Servicer, Special Servicer or the Certificate Administrator (on behalf of itself or the Trustee, as applicable), from the
applicable Collection Account pursuant to this Agreement.

 

“Trustee”:
Wells Fargo Bank, National Association, in its capacity as trustee, or its successor in interest, or any successor trustee appointed
as herein provided. Wells Fargo Bank, National Association will perform its duties as Trustee through its Corporate Trust Services
division.

 

“Trustee Fee”:
With respect to the Trust Loan and each Foreclosed Property, a fee payable monthly by the Certificate Administrator to the Trustee
pursuant to Section 8.5(a) that will accrue at the Trustee Fee Rate, computed on the basis of the same principal amount,
on the same interest accrual basis, and for the same interest accrual period respecting which any related interest payment on the
Trust Loan is (or would have been) computed. For the avoidance of doubt, the Trustee Fee shall be deemed to be payable from the
Lower-Tier REMIC. The Trustee Fee shall be paid out of the Certificate Administrator Fee and shall be equal to zero for so long
as Wells Fargo Bank is the Trustee and the Certificate Administrator.

 

“Trustee Fee
Rate”: A per annum rate, computed on the basis of the same principal amount in the same manner and for the same
Loan Interest Accrual Period respecting which any related interest payment on the Trust Loan is computed.

 

“Trust A Note”:
As defined in the Introductory Statement.

 

“Trust A-B Note”:
As defined in the Introductory Statement.

 

“Trust Loan”:
The portion of the Whole Loan evidenced by Note A-1 and Note A-B, which is transferred and assigned to the Trustee pursuant to
Section 2.1 of this Agreement and held in the Trust Fund.

 

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“Trust Loan
Rate”: With respect to the Trust Loan and any Loan Interest Accrual Period, the annual rate at which interest accrues
on the Trust Loan during such period (in the absence of a default), as set forth in the related Trust Note from time to time.

 

“Trust Notes”:
As defined in the Introductory Statement.

 

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

 

“Uncertificated
Lower-Tier Interests”: Any of the Class LA, Class LB, Class LC and Class LD Uncertificated Interests.

 

“Uninsured Cause”:
With respect to the Whole Loan, any cause of damage to property of the Borrower subject to the Mortgage such that the complete
restoration of such property is not fully reimbursable (but without regard to any applicable deductible provisions) by any insurance
policy required to be maintained with respect thereto pursuant to the terms of the Loan Documents or this Agreement.

 

“Unscheduled
Payments”: With respect to any Distribution Date, all payments and collections received with respect to the Whole Loan
or upon foreclosure or liquidation of the Property (net of related foreclosure expenses and Liquidation Expenses) during the related
Collection Period including, but not limited to, prepayments due to acceleration of the Whole Loan, Net Liquidation Proceeds, Net
Foreclosure Proceeds, Condemnation Proceeds, Insurance Proceeds, voluntary prepayments and other payments and collections on the
Trust Loan or Whole Loan, as applicable, not scheduled to be received, other than Monthly Payments or any Balloon Payment.

 

“Upper-Tier
Distribution Account”: A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier
REMIC.

 

“Upper-Tier
REMIC”: One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Uncertificated Lower-Tier
Interests and such amounts as shall from time to time be held in the Upper-Tier Distribution Account.

 

“U.S. Person”:
A Person that is (i) a citizen or resident alien of the United States, (ii) a corporation or partnership (except as provided in
applicable Treasury regulations) created or organized in or under the laws of the United States, any State or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, (iii) an estate whose income is subject
to United States federal income tax regardless of its source (iv) a trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided by applicable Treasury regulations, certain trusts in existence
on August 20, 1996 that have elected to be treated as a U.S. Person) or (v) any other Person that is disregarded as separate from
its owner for U.S. federal income tax purposes and whose owner is described in clauses (i) through (iv) above.

 

“Voting Rights”:
The portion of the voting rights of all of the Certificates that is allocated to any Certificate or Class of Certificates. At any
time that any Certificates are

 

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outstanding, the Voting Rights shall be allocated among the respective Classes of Certificateholders
as follows: (1) (x) except as described in clause (y) of this clause (1), 4% to the Class X Certificates
(for so long as the Notional Amount of such Class has not been reduced to zero) (with respect to the RR Interest, subject to the
limitations described herein) and (y) 0% to the Class X Certificates in the case of votes pertaining to terminating and replacing
the Special Servicer as described in Section 7.1 and (2) in the case of any other Class of Certificates (other
than the Class R Certificates, and with respect to the RR Interest, subject to the limitations described herein), a percentage
equal to the product of (x) the percentage of Voting Rights remaining after allocations in clause (i) above, and (y)
a percentage equal to the aggregate Certificate Balance (and in connection with certain votes under this Agreement, taking into
account any notional reduction in the Certificate Balance for Appraisal Reduction Amounts allocated to the Certificates) of the
Class, in each case, determined as of the prior Distribution Date, and the denominator of which is equal to the aggregate Certificate
Balance (and in connection with certain votes under this Agreement, taking into account any notional reduction in the Certificate
Balance for Appraisal Reduction Amounts allocated to the Certificates) of all Classes of Certificates, in each case determined
as of the prior Distribution Date (with respect to the RR Interest, subject to the limitations set forth herein). The Class R
Certificates and the RR Interest shall be not be entitled to any Voting Rights; provided, however, the holders of
the RR Interest will be entitled to consent to amendments to the Trust and Servicing Agreement that would adversely affect the
rights of such Certificateholders.

 

“WHFIT”:
A “Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(22)
or successor provisions.

 

“WHFIT Regulations”:
Treasury Regulations Section 1.671-5, as amended or successor provisions.

 

“WHMT”:
A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(23) or successor
provisions.

 

“Whole Loan”:
Collectively, the Trust Loan and the Companion Loans. References herein to the Whole Loan shall be construed to refer to the aggregate
indebtedness under Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-B, Note B-1 and Note B-2.

 

“Withheld Amounts”:
As defined in Section 3.4(d).

 

“Work-out Fee”:
A fee payable to the Special Servicer pursuant to Section 3.17 equal to 0.50% of each payment of principal and interest
made on the Whole Loan following resolution of a Special Servicing Loan Event by a written agreement with the Borrower negotiated
by the Special Servicer for so long as another Special Servicing Loan Event with respect to the Whole Loan does not occur, subject
to a $1,000,000 cap per workout. The Work-out Fee with respect to the Specially Serviced Loan shall be reduced by the amount of
any Modification Fees paid by or on behalf of the Borrower in regard to any Special Servicing Loan Event and received by the Special
Servicer as compensation within the 12-month period preceding payment of the Work-out Fee, but only to the extent those fees
have not previously been deducted from a Workout Fee or Liquidation Fee.

 

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“Yield Maintenance”:
As defined in the Note.

 

“Yield Maintenance
Premium”: As defined in the Loan Agreement.

 

1.2.            
Interpretation. (a)  Whenever this Agreement refers to a Distribution Date and a “related”
Collection Period, Loan Interest Accrual Period, Certificate Interest Accrual Period or Loan Payment Date, such reference shall
be to the Collection Period, Loan Interest Accrual Period, Certificate Interest Accrual Period or Loan Payment Date, as applicable,
immediately preceding such Distribution Date.

 

(b)        
Whenever this Agreement refers to a Distribution Date and an “applicable” Pass-Through Rate, such reference
shall be to the Pass-Through Rate for the applicable Class for the related Certificate Interest Accrual Period.

 

(c)         
The words “hereof”, “herein”, and “hereunder” and words of similar import when used
in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and
Exhibit references contained in this Agreement are references to Sections and Exhibits in or to this Agreement unless otherwise
specified.

 

(d)     
    Interest on the Certificates shall be computed on the basis of a 360-day year consisting of twelve
30 day months.

 

1.3.             
Certain Calculations in Respect of the Whole Loan. (a)  All amounts collected by or on behalf of the Trust
and the Companion Loan Holders in respect of the Whole Loan in the form of payments from the Borrower, Liquidation Proceeds, Condemnation
Proceeds or Insurance Proceeds (other than amounts related to clause (b) of the definition thereof necessary to be
applied to the restoration, preservation or repair of the Property or to be released to the Borrower in accordance with the Loan
Documents) shall be applied to amounts due and owing under the Loan Documents (including for principal and accrued and unpaid interest)
in accordance with the express provisions of the Loan Documents and the Co-Lender Agreement; provided, however, in
the absence of such express provisions or if and to the extent that such terms authorize the mortgagee to use its discretion and
in any event for purposes of calculating distributions hereunder after a Loan Event of Default, all such amounts collected to the
extent not required to be reimbursed or paid to the Servicer or Special Servicer as servicing compensation or reimbursement for
expenses or advances and interest thereon pursuant to the terms hereof (and for which the Borrower is obligated to pay under the
terms of the Loan Documents) shall be deemed to be applied: first, as a recovery of any unreimbursed Monthly Payment Advance,
Property Protection Advances and Administrative Advances with respect to the Trust Loan or the Whole Loan, as applicable, plus
interest accrued on such advances (including Senior Companion Loan Advances and interest on Senior Companion Loan Advances) and,
if applicable, unpaid Liquidation Expenses or foreclosure expenses and unreimbursed Trust Fund Expenses; second, as a recovery
of Nonrecoverable Advances (including Senior Companion Loan Advances and interest on Senior Companion Loan Advances) or interest
on Nonrecoverable Advances with respect to the Whole Loan, as applicable, (which amount is required to be treated as a collection
on the Trust Loan; third, to the extent not previously allocated pursuant to clause first above, as a recovery of
accrued and

 

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unpaid interest on each Note that has not been the subject of a Monthly Payment Advance or Senior Companion Loan Advance
to the extent of the excess of (i) accrued and unpaid interest on such Note at the applicable Note Rate (without giving effect
to any increase in such Note Rate required under the Loan Agreement as a result of a default under the Whole Loan) to, but not
including, the date of receipt by or on behalf of the Trust and the Companion Loan Holders, as applicable (or, in the case of a
full Monthly Payment from the Borrower, through the end of the related Loan Interest Accrual Period), over (ii) the cumulative
amount of the reductions (if any) in the amount of the interest portion of the related Monthly Payment Advances and the Senior
Companion Loan Advances that have theretofore occurred under Section 3.23(a) in connection with Appraisal Reduction
Amounts (to the extent that collections have not been applied as a recovery of accrued and unpaid interest pursuant to clause fifth
below on earlier dates) (such accrued and unpaid interest to be applied sequentially to accrued and unpaid interest on the Trust
A Note and the Non-Trust A Notes, on a pro rata and pari passu basis, and then to the Trust A-B Note, and then to
Note B-1, and then to Note B-2, in that order); fourth, as a recovery of principal of the Whole Loan then due and owing,
including by reason of acceleration of the Whole Loan following a default thereunder (or, if the Whole Loan has been liquidated,
as a recovery of principal to the extent of its entire remaining unpaid principal balance), first to the Trust A Note and
the Non-Trust A Notes (to reduce the outstanding principal balance of the Trust A Note and the Non-Trust A Notes on a pro rata
basis), then to the Trust A-B Note (to reduce the outstanding principal balance of the Trust A-B Note), and then to Note B-1
(to reduce the outstanding principal balance of Note B-1), and then to Note B-2 (to reduce the outstanding principal balance of
Note B-2), in each case until their respective principal balances have been reduced to zero; fifth, as a recovery of accrued
and unpaid interest on the Whole Loan to the extent of the cumulative amount of the reductions (if any) in the amount of the interest
portion of the related Monthly Payment Advances for the Trust Loan and Senior Companion Loan Advances that have theretofore occurred
under Section 3.23(a) in connection with Appraisal Reduction Amounts (to the extent that collections have not been
applied as recovery of accrued and unpaid interest pursuant to this clause fifth on earlier dates) (such accrued and unpaid interest
to be applied sequentially to accrued and unpaid interest on the Trust A Note and the Non-Trust A Notes (on a pro rata basis),
then to the Trust A-B Note, and then to Note B-1, and then to Note B-2, in that order); sixth, as an allocation of amounts
to be currently applied to the payment of, or escrowed for the future payment of, real estate taxes, assessments, insurance premiums
and similar items; seventh, as an allocation of any other reserves to the extent then required to be held in escrow; eighth,
as a recovery of any assumption fees and Modification Fees then due and owing under the Whole Loan; ninth, as a recovery
of Yield Maintenance Premiums then due and owing under the Whole Loan; tenth, as a recovery of any Default Interest or late
charges then due and owing under the Whole Loan; and eleventh, as a recovery of any other amounts then due and owing in
respect of the Whole Loan; provided that, to the extent required under the REMIC Provisions to preserve either Trust REMIC’s
status as a REMIC or otherwise prevent the imposition of any tax thereon, payment or proceeds received with respect to any partial
release of any portion of the Property (including following a condemnation) at a time when the loan-to-value ratio of the Whole
Loan exceeds 125% (based solely upon the value of the remaining real property and excluding any personal property or going concern
value) must be applied to reduce the principal balance of the Whole Loan in the manner required by the REMIC Provisions.

 

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(b)         
Collections by or on behalf of the Trust and the Companion Loan Holders in respect of any Foreclosed Property (exclusive
of amounts to be applied to the payment of the costs of operating, managing, leasing, maintaining and disposing of such Foreclosed
Property) to the extent not required to be reimbursed or paid to the Servicer or Special Servicer as servicing compensation or
reimbursement for expenses or advances and interest thereon pursuant to the terms hereof (and for which the Borrower is obligated
to pay under the terms of the Loan Documents) shall be treated (for the avoidance of doubt, application of such funds towards amounts
owed by the Borrower will not impact the order of application of funds on deposit in the Collection Account to the parties to the
this Agreement, and withdrawals of funds from the Collection Account will be governed by Section 4.1 regarding the priority
of withdrawals from the Collection Account): first, as a recovery of any related and unreimbursed Monthly Payment Advances
Property Protection Advances and Administrative Advances with respect to the Trust Loan or the Whole Loan, as applicable, plus
interest accrued on such Advances (including Senior Companion Loan Advances and interest on Senior Companion Loan Advances) and,
if applicable, unpaid Liquidation Expenses or foreclosure expenses and unreimbursed Trust Fund Expenses; second, as a recovery
of Nonrecoverable Advances or interest on Nonrecoverable Advances (including Senior Companion Loan Advances and interest on Senior
Companion Loan Advances) with respect to the Trust Loan or the Whole Loan, as applicable, to the extent previously reimbursed from
principal collections with respect to the Whole Loan; third, to the extent not previously allocated pursuant to clause first
above, as a recovery of accrued and unpaid interest on each Note to the extent of the excess of (i) accrued and unpaid interest
on each outstanding Note at the applicable Note Rate (without giving effect to any increase in the Note Rate required under the
Loan Agreement as a result of a default under the Whole Loan) to, but not including, the Loan Payment Date in the Collection Period
in which such collections were received, over (ii) the cumulative amount of the reductions (if any) in the amount of the interest
portion of the related Monthly Payment Advances and Senior Companion Loan Advances that have theretofore occurred under Section 3.23(a)
in connection with Appraisal Reduction Amounts (to the extent that collections have not been applied as a recovery of accrued and
unpaid interest pursuant to clause fifth below on earlier dates) (such accrued and unpaid interest to be applied sequentially
to accrued and unpaid interest on the Trust A Note and Non-Trust A Notes and then to the Trust A-B Note and then to Note B-1 and
then to Note B-2, in that order); fourth, as a recovery of principal of the Whole Loan to the extent of its entire unpaid
principal balance, first, to the Trust A Note and the Non-Trust A Notes (to reduce the outstanding principal balance of
the Trust A Note and the Non-Trust A Notes on a pro rata basis), then to the Trust A-B Note (to reduce the outstanding principal
balance of the Trust A-B Note), and then to Note B-1 (to reduce the outstanding principal balance of Note B-1), and then to Note
B-2 (to reduce the outstanding principal balance of Note B-2), in each case until their respective principal balances have been
reduced to zero; fifth, as a recovery of accrued and unpaid interest on the Whole Loan to the extent of the cumulative amount
of the reductions (if any) in the amount of the interest portion of the related Monthly Payment Advances and Senior Companion Loan
Advances that have theretofore occurred under Section 3.23(a) in connection with related Appraisal Reduction Amounts
(to the extent that collections have not been applied as recovery of accrued and unpaid interest pursuant to this clause fifth
on earlier dates) (such accrued and unpaid interest to be applied and sequentially to accrued and unpaid interest on the Trust
A Note and Non-Trust A Notes (on a pro rata basis), then to the Trust A-B Note and then to Note B-1 and then to Note B-2,
in that order); sixth, as a recovery of related Yield Maintenance Premiums

 

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then due and owing under the Whole Loan; seventh,
as a recovery of any Default Interest or late charges then deemed to be due and owing under the Whole Loan; and eighth,
as a recovery of any other amounts deemed to be due and owing under the Whole Loan.

 

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

 

2.                 
DECLARATION OF TRUST; ORIGINAL ISSUANCE OF CERTIFICATES

 

2.1.              Creation
and Declaration of Trust; Conveyance of the Whole Loan. (a)  The Depositor, concurrently with the execution and
delivery hereof, hereby sells, transfers, assigns, delivers, sets over, and otherwise conveys or causes to be conveyed in
trust to the Trustee (on behalf of the Lower-Tier REMIC) for the benefit of the Upper-Tier REMIC and the Certificateholders,
without recourse (except to the extent otherwise provided herein and in the Loan Documents), the Depositor’s right,
title and interest, whether now owned or hereafter acquired, now existing or hereafter arising, wherever located, in and to
all of the items referred to in the definition of “Trust Fund”, including without limitation (i) all rights
and remedies of the Depositor under the Loan Purchase Agreement, (ii) all right, title and interest of the Depositor in,
to and under the Reserve Accounts, (iii) all right, title and interest of the Depositor in and to the Whole Loan as of
the Closing Date and (iv)  all other assets included or to be included in the Lower-Tier REMIC for the benefit of the
Upper-Tier REMIC. Such sale, transfer and assignment include any related escrow accounts and any security interest under the
Whole Loan (whether in real or personal property and whether tangible or intangible) and all related rights to payments made
or required to be made to the Depositor by the Borrower or any other party under the Loan Documents relating to the
Whole Loan. Such sale, transfer and assignment further include all Loan Documents relating to the Whole Loan.

 

(b)         
In connection with such sale, transfer and assignment, the Depositor shall deliver to, and deposit with the Custodian (with
copies to the Servicer) on or prior to the Closing Date, to the extent not already in the Custodian’s possession, the following
documents or instruments with respect to the Whole Loan (collectively, the “Mortgage File”; capitalized terms
used in this Section 2.1(b) not defined in this Agreement shall have the meanings ascribed to them in the Loan Agreement),
in each case executed by the parties thereto:

 

(A)            
the original Trust Notes, endorsed without recourse to the order of the Trustee in the following form: “Pay to the
order of Wells Fargo Bank, National Association, solely in its capacity as Trustee in trust for Holders of Natixis Commercial Mortgage
Securities Trust 2019-NEMA, Commercial

 

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Mortgage Pass-Through Certificates, Series 2019-NEMA, without recourse or warranty except
as set forth in the Trust and Servicing Agreement, dated as of March 29, 2019, among Natixis Commercial Mortgage Securities LLC,
as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National
Association, as Trustee and Certificate Administrator”, which Trust Notes and all endorsements thereon shall show a complete
chain of endorsement from the original payee(s) to the Trustee;

 

(B)             
the original Loan Agreement, including all amendments thereto;

 

(C)             
the original recorded Mortgage or certified copy of the recorded Mortgage, including all amendments thereto and any related
spreader agreements;

 

(D)            
the Guaranty of Recourse Obligations;

 

(E)             
the original recorded Assignment of Mortgage, in favor of the Trustee, and in a form that is complete and suitable for recording
in the jurisdiction in which the Property is located to “Wells Fargo Bank, National Association, solely in its capacity as
Trustee for Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA
(for the benefit of the Certificateholders and the Companion Loan Holders)”, without recourse;

 

(F)             
the original recorded Assignment of Leases and Rents;

 

(G)            
the original assignment of the recorded Assignment of Leases and Rents, in favor of the Trustee (for the benefit of the
Certificateholders and the Companion Loan Holders) and in a form that is complete and suitable for recording in the jurisdiction
in which the Property is located, without recourse;

 

(H)            
an original of any non-recourse carve-out guaranties, if any;

 

(I)               
an original of any environmental indemnities;

 

(J)               
an original of any Origination Date reserve guaranties;

 

(K)            
an original of any assignment of agreements, permits and contracts;

 

(L)             
an original of the Co-Lender Agreement;

 

(M)          
where applicable, a copy of each UCC-1 financing statement (and an original thereof shall have been sent for filing), together
with a fully executed UCC-3 financing statement, in a form that is complete and suitable for filing, disclosing the assignment
from the secured party named in such UCC-1 financing statement to the Trustee of the security interest in the personal property
and other UCC collateral constituting security for repayment of the Whole Loan;

 

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(N)            
the lender’s title insurance policy obtained in connection with the origination of the Whole Loan (or an executed
irrevocable agreement by the title insurance company to issue a title insurance policy pursuant to and in conformity with (1) a
marked, signed commitment to insure and (2) a pro forma title insurance policy), which may be an electronically issued policy,
together with any endorsements thereto;

 

(O)            
any other material written agreements related to the Whole Loan or any other documents and/or certifications executed and/or
delivered by the NREC, the Borrower, the Borrower Sponsor or any other Person in connection with the closing of the Whole Loan
or with respect to the Whole Loan or any amendment thereof and any legal opinions delivered in connection with the closing of the
Whole Loan;

 

(P)             
all other instruments, if any, constituting additional security for the repayment of the Whole Loan; and

 

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

 

provided that if the Depositor cannot
deliver, or cause to be delivered, any of the documents and/or instruments referred to in clauses (C), (E), (F), (G) and (M)
above with evidence of filing or recording thereon (if intended to be recorded or filed), because of a delay caused by the public
filing or recording office where such document or instrument has been delivered for filing or recordation, or because the timing
of the Closing Date is such that it would not be feasible to obtain such documents from such public filing or recording office
in sufficient time to meet the delivery requirements of this Section 2.1(b), the delivery requirements of this Section 2.1(b)
shall be deemed to have been satisfied on a provisional basis as of the Closing Date as to such non-delivered document or instrument,
and such non-delivered document or instrument shall be deemed to have been included in the Mortgage File, if a duplicate original
or a photocopy of such non-delivered document or instrument (certified by the applicable public filing or recording office, the
applicable title insurance company or the Depositor to be a true and complete copy of the original thereof submitted for filing
or recording) is delivered to the Custodian on or before the Closing Date, and either the original of such non-delivered document
or instrument, or a photocopy thereof (certified by the appropriate county recorder’s office, in the case of the documents
and/or instruments referred to in clauses (C), (E), (F), (G) and (M) above, to be a true and complete copy of the original
thereof submitted for recording), with evidence of filing or recording thereon, is delivered to the Custodian within 180 days of
the Closing Date (or within such longer period, not to exceed 12 months, after the Closing Date as the Custodian may consent to,
which consent shall not be unreasonably withheld so long as the Depositor is, as certified in writing to the Custodian no less
often than every 90 days, attempting in good faith to obtain from the appropriate public filing office or county recorder’s
office, as applicable, such original or photocopy); provided, further, that in those instances where the public recording
office retains an original Mortgage, an original Assignment of Mortgage, an original Assignment of Leases, or any other Collateral
Security Document, if applicable, after any has been recorded, the obligations hereunder of the Depositor and the obligations of
the Loan Seller under the Loan Purchase Agreement shall be deemed to have been satisfied upon delivery to the Custodian of a

 

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copy
of the Mortgage, Assignment of Mortgage or assignment of a Collateral Security Document, if applicable, certified by the public
recording office or the title insurance company to be a true and complete copy of the recorded original thereof.

 

In addition, the Depositor
shall deliver or cause to be delivered to the Servicer for its review all required insurance policies or certificates issued by
the insurers showing such insurance to be in effect on the Closing Date, together with proof of payment of premiums relating thereto
then due and payable (which may consist of such policies or certificates).

 

The Depositor shall provide,
or cause to be provided, the Servicer on or prior to the Closing Date, at its own expense, with copies of all such documents in
its possession constituting part of the Mortgage File. In the event that any Letter of Credit is delivered by the Borrower under
the Loan Documents after the Closing Date, the Servicer shall hold the original of such Letter of Credit on behalf of the Trust
and the Companion Loan Holders and deliver a copy of such Letter of Credit to the Trustee.

 

The Depositor shall cause
the Loan Seller to record or cause a third party to record in the appropriate public recording office the documents and/or instruments
referred to in clauses (C), (E), (F), (G) and (M) above.

 

The ownership of the
Trust Notes, the Mortgage, the Collateral Security Documents and all other contents of the Mortgage File shall be vested in the
Trust or the Trustee in trust for the benefit of the Certificateholders and, except in the case of the Trust Notes, the Companion
Loan Holders. The Depositor, the Servicer and the Special Servicer agree to take no action inconsistent with the Trustee’s
ownership of the Trust Loan and to promptly indicate to all inquiring parties that the Trust Loan has been sold and to claim no
ownership interest in the Trust Loan. All original documents relating to the Whole Loan or Trust Loan that are not delivered to
the Custodian are and shall be held by the Depositor, the Servicer or the Special Servicer, as the case may be, in trust for the
benefit of the Certificateholders and, except in the case of the Trust Notes, the Companion Loan Holders. In the event that any
such original document is required pursuant to the terms of this Section 2.1(b) to be a part of the Mortgage File,
such document shall be delivered promptly to the Custodian.

 

The conveyance of the
Trust Loan and the related rights and property accomplished hereby is absolute and is intended by the parties hereto to constitute
an absolute sale and transfer of the Trust Loan and such other related rights and property by the Depositor to the Trustee in trust
for the benefit of the Certificateholders, in exchange for the Certificates being sold by the Depositor. Furthermore, it is not
intended that such conveyance be a pledge of security for a loan. If such conveyance is determined to be a pledge of security for
a loan, however, the Depositor and the Trustee intend that the rights and obligations of the parties to the Trust Loan shall be
established pursuant to the terms of this Agreement. The Depositor and the Trustee also intend and agree that, in such event, (i)
this Agreement shall constitute a security agreement under applicable law, (ii) the Depositor shall be deemed to have granted to
the Trustee (in such capacity) a first priority security interest in all of the Depositor’s right, title and interest in
and to the assets constituting the Trust Fund, including the Trust Loan subject hereto from time to time, all amounts received
on or with respect to the Trust Loan after the Closing Date, all amounts held from time to time in the Collection Account, the
Distribution Account, and, if

 

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established, the Foreclosed Property Account, and all of the Depositor’s right, title and interest
under the Loan Purchase Agreement, (iii) the possession by the Custodian of the Trust Notes with respect to the Trust Loan subject
hereto from time to time and such other items of property as constitute instruments, money, negotiable documents or chattel paper
shall be deemed to be “possession by the secured party” or possession by a purchaser or person designated by such secured
party for the purpose of perfecting such security interest under applicable law, and (iv) notifications to, and acknowledgments,
receipts or confirmations from, Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts
or confirmations from, securities intermediaries, bailees or agents (as applicable) of the Trustee for the purpose of perfecting
such security interest under applicable law.

 

2.2.              
Acceptance by the Trustee and the Custodian. (a)  By its execution and delivery of this Agreement, the
Trustee acknowledges the assignment to it of the Trust Loan in good faith without notice of adverse claims and the Custodian declares
that it holds and will hold or will cause to be held such documents as are delivered to it constituting the Mortgage File (to the
extent the documents constituting the Mortgage File are actually delivered to it) in trust, upon the conditions herein set forth,
for the use and benefit of all present and future Certificateholders and the Companion Loan Holders.

 

(b)          
The execution and delivery of this Agreement by the Custodian shall constitute certification by the Custodian that with
respect to the Trust Loan (i) the original Trust Notes specified in clause (A) of the definition of “Mortgage File”
and all allonges thereto, if any, have been received by the Custodian; and (ii) such original Trust Notes have been reviewed
by the Custodian and (A) appears regular on its face (handwritten additions, changes or corrections shall not constitute irregularities
if initialed by the Borrower), (B) appears to have been executed and (C) purports to relate to the Trust Loan. The Custodian
agrees to review or cause to be reviewed the Mortgage File within 60 days after the Closing Date, and to deliver to the Trustee,
the Depositor, the Directing Holder, the Companion Loan Holders, the Loan Seller, the Servicer and the Special Servicer a Custodial
Certificate and Certification in the form of Exhibit N attached hereto certifying, subject to any exceptions found by it
in such review, that (A) all documents referred to in Section 2.1(b) have been received, and (B) all documents
have been executed, appear on their face to be what they purport to be, purport to be recorded or filed (as applicable) and have
not been torn, mutilated or otherwise defaced, and appear on their faces to relate to the Whole Loan. The Custodian shall have
no responsibility for reviewing the Mortgage File except as expressly set forth in this Section 2.2(b). The Custodian
shall be under no duty or obligation to inspect, review, or examine any such documents, instruments or certificates to independently
determine that they are valid, genuine, enforceable, legally sufficient, duly authorized, or appropriate for the represented purpose,
whether the text of any assignment or endorsement is in proper or recordable form (except to determine if the endorsement conforms
to the requirements of Section 2.1(b)), whether any document has been recorded in accordance with the requirements
of any applicable jurisdiction, to independently determine that any document has actually been filed or recorded in the appropriate
office, that any document is other than what it purports to be on its face, or whether the title insurance policies relate to the
Property.

 

(c)          
Upon the first anniversary of the Closing Date, the Custodian shall deliver to the Trustee, the Depositor, the Loan Seller,
the Servicer and the Special Servicer a Final

 

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Custodial Certificate in the form of Exhibit O attached hereto along with
a final exception report as to any remaining documents that are not in the Mortgage File, whereupon, within 90 days, the Servicer
shall either (i) cause the Loan Seller to cure such document deficiency; or (ii) use commercially reasonable efforts
to cause the Loan Seller to repurchase the Trust Loan pursuant to the Loan Purchase Agreement if such exception is a Material Document
Defect. The Trust’s sole remedy against the Loan Seller in connection with a Material Document Defect is to enforce the repurchase
claim in accordance with the provisions of the Loan Purchase Agreement. The Servicer shall be reimbursed for any costs, fees (including
attorney fees) and expenses incurred by it in connection with its obligations related to such enforcement by the Loan Seller, or
if the Loan Seller prevails in such enforcement action, by the Trust Fund.

 

(d)         
The Custodian’s review of the Mortgage Files and its certification with respect thereto shall not be deemed to constitute
“due diligence services” or a “third party due diligence report” as such terms are defined in Rule 17g-10
and 15Ga-2, respectively, promulgated by the Commission pursuant to the Exchange Act.

 

(e)         
If the Servicer or the Special Servicer (i) receives a Repurchase Request (the receiving Servicer or Special Servicer,
as applicable, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives
any withdrawal of a Repurchase Request by the Person making such Repurchase Request (or such a Repurchase Request is forwarded
to the Servicer or Special Servicer by another party hereto), then the Repurchase Request Recipient shall deliver notice of such
Repurchase Request or withdrawal of a Repurchase Request (each, a “Rule 15Ga-1 Notice”) to the Certificate
Administrator, the Depositor and the Loan Seller, in each case within 10 Business Days from such party’s receipt thereof.
Each Rule 15Ga-1 Notice may be delivered by electronic means.

 

Each Rule 15Ga-1
Notice shall include (i) the identity of the Trust Loan, (ii) the date the Repurchase Request is received or the date
any withdrawal of the Repurchase Request is received, as applicable and (iii) in the case of a Repurchase Request, (A) the identity
of the Person making such Repurchase Request, and (B) if known, the basis for the Repurchase Request (as asserted in the Repurchase
Request).

 

A Repurchase Request
Recipient shall not be required to provide any information in a Rule 15Ga-1 Notice protected by the attorney-client privilege
or attorney work product doctrines. The Loan Purchase Agreement will provide that (i) any Rule 15Ga-1 Notice provided
pursuant to this Section 2.2(d) is so provided only to assist the Loan Seller and Depositor or their respective Affiliates
to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or
regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request Recipient and (B) no information
provided pursuant to this Section 2.2(d) by a Repurchase Request Recipient, shall be deemed to constitute a waiver
or defense to the exercise of any legal right the Repurchase Request Recipient may have with respect to the Loan Purchase Agreement,
including with respect to any Repurchase Request that is the subject of a Rule 15Ga-1 Notice.

 

In the event that the
Depositor, the Trustee or the Certificate Administrator receives a Repurchase Request or a withdrawal of a Repurchase Request,
such party shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal

 

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of a Repurchase
Request, as the case may be, to the Servicer or, while a Special Servicing Loan Event has occurred and is continuing, to the Special
Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal
of a Repurchase Request]” under Section 2.2 of the Trust and Servicing Agreement relating to the Natixis Commercial
Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA requiring action by you as
the “Repurchase Request Recipient” thereunder.” Upon receipt of such Repurchase Request or withdrawal of a Repurchase
Request by the Servicer or the Special Servicer, as applicable pursuant to the prior sentence, such party shall be deemed to be
the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be,
and such party shall comply with the procedures set forth in this Section 2.2(d) with respect to such Repurchase Request.

 

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

 

2.3.             
Representations and Warranties of the Trustee and Certificate Administrator. (a)  Wells Fargo Bank, National
Association, as the Trustee and the Certificate Administrator, hereby represents and warrants to the other parties hereto and the
Companion Loan Holders that as of the Closing Date:

 

(i)           
it is a national banking association, duly organized, validly existing, and is in good standing under the laws of the United
States; it possesses and shall continue to possess all requisite authority, power, licenses, permits, franchise and approvals to
conduct its business and to execute, deliver and comply with its obligations under this Agreement;

 

(ii)         
the execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not
violate its articles of association 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 contract, agreement or other instrument to which it is a party or which
may be applicable to it or any of its assets, which default or breach of such material contract, agreement or other instrument
would have a material adverse effect on its performance of its obligations hereunder;

 

(iii)        
except to the extent that the laws of any jurisdiction in which a part of the Trust Fund may be located require that a co-trustee
or separate trustee be appointed to act with respect to such property as contemplated by Section 8.10, it has the full
power and authority to enter into and consummate the transactions contemplated by this Agreement, has duly authorized the execution,
delivery and performance of this Agreement, and has duly executed and delivered this Agreement;

 

(iv)         
this Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes its valid and
binding obligation, enforceable against it in

 

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accordance with the terms of this Agreement, except as such enforcement may be limited
by bankruptcy, insolvency, conservatorship, reorganization, receivership, moratorium or other laws relating to or affecting the
rights of creditors generally and by general principles of equity (regardless of whether such enforcement is considered in a proceeding
in equity or at law);

 

(v)          
it is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the
terms of this Agreement will not constitute a violation with respect to, any order or decree of any court or any order, law or
regulation of any federal, state, municipal or governmental agency of or in the United States of America having jurisdiction, which
violation would have consequences that would materially and adversely affect its condition (financial or other) or operations or
that would materially affect the performance of its duties hereunder or thereunder;

 

(vi)       
no consent, approval, authorization or order of, or registration of filing with, or notice to any court, governmental or
regulatory agency or body, is required for its execution, delivery and performance of this Agreement or if required, such approval
has been obtained prior to the Closing Date;

 

(vii)       
no litigation is pending or, to the best of its knowledge, threatened against it which would prohibit its entering into
or materially and adversely affect its ability to perform its obligations under this Agreement; and

 

(viii)      
it is covered by errors and omissions insurance coverage which is in full force and effect and/or otherwise complies with
the requirements of Section 8.6(c).

 

The respective representations
and warranties of the Trustee and the Certificate Administrator set forth in this Section 2.3 shall survive until the
termination of this Agreement, and shall inure to the benefit of the other parties hereto and the Companion Loan Holders.

 

2.4.             
[Reserved]

 

2.5.             
Representations and Warranties of the Servicer. (a)  KeyBank National Association, as the Servicer, hereby
represents and warrants to the other parties hereto and the Companion Loan Holders that as of the Closing Date:

 

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

 

(ii)          
the execution and delivery of this Agreement and its performance of and compliance with the terms hereof in the manner contemplated
by this Agreement will not violate its articles of association or by-laws or any other material instrument governing its

 

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operations,
or any laws, regulations, orders or decrees of any governmental authority applicable to it and will not constitute a default (or
any event which, with notice or lapse of time or both, would constitute a default) under any material contract, agreement, or other
instrument to which it is a party or which may be applicable to any of its assets, which violation or default would have consequences
that would materially and adversely affect its financial condition or operations or its properties taken as a whole or its ability
to perform its obligations hereunder, or materially impair the ability of the Trust Fund to realize on the Collateral;

 

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

 

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

 

(v)         
all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any,
required for the execution, delivery and performance of this Agreement by it have been obtained or made;

 

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

 

(vii)       
it has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the
requirements of Section 3.11(d) hereof.

 

(b)         
The representations and warranties of the Servicer set forth in this Section 2.5 shall survive until termination
of this Agreement, and shall inure to the benefit of the parties hereto and the Companion Loan Holders.

 

2.6.             
Representations and Warranties of the Special Servicer. (a)  Situs Holdings, LLC, as the Special Servicer,
hereby represents and warrants to the other parties hereto and the Companion Loan Holders that as of the Closing Date:

 

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

 

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

 

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

 

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

 

(v)          
all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any,
required for the execution, delivery and performance of this Agreement by it have been obtained or made;

 

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

 

(vii)       
it has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the
requirements of Section 3.11(d) hereof.

 

(b)         
The representations and warranties of the Special Servicer set forth in this Section 2.6 shall survive until
termination of this Agreement, and shall inure to the benefit of the parties hereto and the Companion Loan Holders.

 

2.7.             
Representations and Warranties of the Depositor. (a)  The Depositor hereby represents and warrants to the
other parties hereto and the Companion Loan Holders that as of the Closing Date:

 

(i)           
the Depositor is a Delaware limited liability company, duly organized, validly existing and in good standing under the laws
of the State of Delaware, with full power and authority to own its property, to carry on its business as presently conducted, to
enter into and perform its obligations under this Agreement, and to create the trust pursuant hereto;

 

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(ii)           
the execution, delivery and performance of this Agreement by the Depositor have been duly authorized by all necessary corporate
action on the part of the Depositor; neither the execution, delivery and performance of this Agreement, nor the consummation of
the transactions herein contemplated, nor the compliance with the provisions hereof, will conflict with or result in a breach of,
or constitute a default under (A) any of the provisions of any law, rule, regulation, judgment, decree or order binding on
the Depositor, (B) the organizational documents of the Depositor, or (C) the terms of any indenture or other agreement or
instrument to which the Depositor is a party or by which it is bound or any statute, order or regulation of any court, regulatory
body, administrative agency or governmental body having jurisdiction over it;

 

(iii)          
the execution, delivery and performance by the Depositor of this Agreement and the consummation of the transactions contemplated
hereby and thereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of
any other action in respect of, any state, federal or other governmental authority or agency, except such as has been obtained,
given, effected or taken prior to the date hereof;

 

(iv)         
this Agreement has been duly executed and delivered by the Depositor and, assuming due authorization, execution and delivery
by the other parties hereto, constitutes a valid and binding obligation of the Depositor enforceable against it in accordance with
its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other
similar laws relating to or affecting the rights of creditors generally, and by general equity principles (regardless of whether
such enforcement is considered in a proceeding in equity or at law);

 

(v)          
there are no actions, suits or proceedings pending or, to the best of the Depositor’s knowledge, threatened or likely
to be asserted against or affecting the Depositor, before or by any court, administrative agency, arbitrator or governmental body
(A) with respect to any of the transactions contemplated by this Agreement or (B) with respect to any other matter which
in the judgment of the Depositor will be determined adversely to the Depositor and will, if determined adversely to the Depositor,
materially and adversely affect its ability to perform its obligations under this Agreement;

 

(vi)          
the Depositor is not in default with respect to any order or decree of any court or any order, regulation or demand of any
federal, state, municipal or governmental agency, which default would materially and adversely affect the ability of the Depositor
to perform its obligations hereunder;

 

(vii)        
other than the actions taken pursuant to this Agreement, the Depositor has taken no action to impair or encumber the title
to the Whole Loan or to subject it to any offsets, defenses or counterclaims during the Depositor’s ownership thereof;

 

(viii)      
the Depositor is not accounting for the transfer of the Trust Loan as a financing of the Trust Loan under generally accepted
accounting principles, and the Depositor will not treat the Trust Loan as an asset of the Depositor for federal income tax purposes;

 

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(ix)          
the Depositor is not, and, after giving effect to the transfers contemplated under this Agreement, will not be, insolvent;
and

 

(x)            
the Depositor has not transferred the Trust Loan with an intent to hinder, delay or defraud its creditors.

 

(b)           
The representations and warranties of the Depositor set forth in this Section 2.7 shall survive until termination
of this Agreement, and shall inure to the benefit of the Certificateholders, the Trustee, the Certificate Administrator, the Servicer,
the Special Servicer and the Companion Loan Holders.

 

(c)           
Neither the Depositor nor any of its Affiliates shall insure or guarantee distributions on the Certificates. Subject to
Section 2.7(a) and (b), neither the Certificateholders nor the Trustee or the Certificate Administrator on their
behalf shall have any rights or remedies against the Depositor for any losses or other claims in connection with the Certificates
or the Whole Loan except as expressly set forth herein.

 

2.8.             Representations and Warranties Contained in the Loan Purchase Agreement. (a)  If any party hereto (A) discovers
or receives notice alleging that any document required to be delivered to the Custodian pursuant to Section 2.1 is not delivered
as and when required, is not properly executed or is defective (each, a “Defect”) or (B) discovers or receives
notice alleging a breach of any representation or warranty made by the Loan Seller as set forth in Exhibit A to the Loan Purchase
Agreement (a “Breach”), then such party shall give prompt written notice of such Defect or Breach to the Loan
Seller, the Risk Retention Consultation Party, the Directing Holder (for so long as a Subordinate Control Period or Subordinate
Consultation Period is continuing), the other parties hereto and the Subordinate Companion Loan Holders. The Special Servicer shall
reasonably determine if any such Defect or Breach materially and adversely affects the value of the Trust Loan or the interests
of the Certificateholders in the Trust Loan or causes the Trust Loan to fail to be a “qualified mortgage” within the
meaning of the REMIC Provisions (but without regard to the rule in Treasury Regulations Section 1.860G-2(f) that treats a defective
obligation as a “qualified mortgage”) (a “Qualified Mortgage”) (any such Defect or Breach, a “Material
Document Defect” and a “Material Breach”, respectively). If such Defect or Breach has been determined
to be a Material Document Defect or Material Breach, then the Special Servicer shall (i) give prompt written notice thereof to
the Loan Seller, the Risk Retention Consultation Party, the Directing Holder (for so long as a Subordinate Control Period or Subordinate
Consultation Period is continuing), the other parties hereto and the Subordinate Companion Loan Holders, and (ii) use efforts consistent
with Accepted Servicing Practices to cause the applicable Loan Seller, to the extent obligated to do so under the Loan Purchase
Agreement, to (A) repurchase the Trust Loan at an amount equal to the Repurchase Price, (B) cure such Material Document Defect
or Material Breach, as the case may be, in all material respects, or (C) if such Material Document Defect or Material Breach is
not related to the Trust Loan not being a Qualified Mortgage, indemnify the Trust for the losses directly related to such Material
Document Defect or Material Breach, subject to receipt of a Rating Agency Confirmation from each Rating Agency with respect to
such action, in each case under the terms of and within the time period specified by the Loan Purchase Agreement. If a Responsible
Officer of the Certificate Administrator or a Servicing Officer of the Servicer or the Special Servicer, has actual knowledge that
any Loan Seller has

 

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defaulted on its obligation to repurchase the Trust Loan under the Loan Purchase Agreement, such entity shall
promptly notify the Trustee, the Certificate Administrator, the Servicer and the Special Servicer, as applicable, and the Certificate
Administrator shall notify the Certificateholders of such default. The Special Servicer shall enforce the obligations of the Loan
Seller under Section 8 of the Loan Purchase Agreement.

 

For the avoidance of
doubt, no Liquidation Fee will be payable by the Loan Seller in connection with a repurchase of the Trust Loan due to a Material
Breach or a Material Document Defect set forth above so long as such repurchase occurs within the time period required by Section
8 of the Loan Purchase Agreement.

 

(b)           
Upon receipt by the Servicer from the Loan Seller of the Repurchase Price, the Servicer shall deposit such amount in the
Collection Account, and the Certificate Administrator shall, upon receipt of a certificate of a Servicing Officer certifying as
to the receipt by the Servicer of the Repurchase Price and the deposit of the Repurchase Price into the Collection Account pursuant
to this Section 2.8(b) (i) release or cause to be released to the designees of the Loan Seller the Mortgage File
and the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation
or warranty (except that the Trust Loan is owned by the Trust and is being sold free and clear of liens and encumbrances), as shall
be prepared by such designee to vest in such designee the Trust Loan released pursuant hereto and the Certificate Administrator,
the Trustee, the Servicer and the Special Servicer shall have no further responsibility with regard to such Mortgage File and (ii) release
or cause to be released to the Loan Seller any escrow payments and reserve funds held by the Servicer, the Special Servicer, or
in respect of the Trust Loan.

 

(c)           
In the event that the Trust Loan is repurchased pursuant to this Section 2.8, the Servicer or Special Servicer,
as applicable, shall promptly notify the Depositor of such repurchase.

 

(d)           
It is understood and agreed that the obligations of the Loan Seller referred to in this Section 2.8 shall be the
sole remedies available to the Certificateholders or the Trustee respecting a Material Breach of the Loan Seller’s representations
and warranties regarding the Whole Loan, the Property and any Material Document Defect.

 

2.9.            
Issuance of Uncertificated Lower-Tier Interests; Issuance of Regular Interests; Execution and Delivery of Certificates.
The Trustee acknowledges the assignment in trust by the Depositor to the Trustee of the Trust Notes and other assets comprising
the Trust Fund. Concurrently with such assignment and delivery and in exchange therefor, the Trustee (i) acknowledges the issuance
of the Uncertificated Lower-Tier Interests and  the Class LT-R Interest to the Depositor in exchange for the Trust Loan, receipt
of which is hereby acknowledged; (ii) acknowledges the contribution by the Depositor of the Uncertificated Lower-Tier Interests
to the Upper-Tier REMIC; and (iii) acknowledges, immediately thereafter, in exchange for the Uncertificated Lower-Tier Interests,
the issuance of the Regular Interests and the UT-R Interest and that it has caused the Certificate Administrator to execute and
authenticate and deliver to or upon the order of the Depositor, the Class R Certificates, representing the Class LT-R and
Class UT-R Interests, the Regular Certificates and the Class V Certificates, and

 

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the Depositor hereby acknowledges the receipt
by it or its designees, of the Certificates in authorized denominations, evidencing the entire beneficial ownership of the Trust
Fund.

 

2.10.          
Miscellaneous REMIC Provisions. (a)  The Class A, Class X, Class B, Class C and Class D Regular Interests
are hereby designated as the “regular interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1)
of the Code, and the Class UT-R Interest, represented by the Class R Certificates, is hereby designated as the sole class of “residual
interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code.

 

The Class LA, Class LB,
Class LC and Class LD Uncertificated Interests are hereby designated as the “regular interests” in the Lower-Tier
REMIC (the “Lower-Tier Regular Interests”) within the meaning of Section 860G(a)(1) of the Code, and the
Class LT-R Interest, represented by the Class R Certificates, is hereby designated as the sole class of “residual interests”
in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code.

 

2.11.          
Miscellaneous Grantor Trust Provisions. (a)  The portion of the Trust Fund consisting of (i) the Class
A Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class A Certificates, (ii) the Class
X Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class X Certificates, (iii) the Class
B Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class B Certificates, (iv) the Class
C Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class C Certificates, (v) the Class D
Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class D Certificates, (vi) the Class V-ABC
Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class V-ABC Certificates, (vii) the Class
V-D Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class V-D Certificates and (viii) Class
V2 Specific Grantor Trust Assets, beneficial ownership of which will be represented by the Class V2 Certificates (altogether, the
“Grantor Trust”), will be treated as a grantor trust within the meaning of subpart E, part I of subchapter J
of the Code.

 

2.12.         
Grantor Trust Reporting. (a) The parties intend that the portion of the Trust Fund constituting the Grantor
Trust shall constitute, and that the affairs of the Grantor Trust shall be conducted so as to qualify such portion as, a “grantor
trust” under subpart E, part I of subchapter J of the Code, and the provisions hereof shall be interpreted consistently
with this intention. In furtherance of such intention, neither the Trustee nor the Certificate Administrator shall have the power
to vary the investment of the Certificateholders in the Grantor Trust so as to improve their rate of return. The Certificate Administrator
shall prepare or cause to be prepared, submit to the Trustee for execution (and the Trustee shall timely execute and timely return
to the Certificate Administrator) and timely file all Tax Returns in respect of the Grantor Trust. In addition, the Certificate
Administrator shall (A) file, or cause to be filed, Internal Revenue Service Form 1041, Form 1099 or such other
form as may be applicable with the Internal Revenue Service with copies of the statements in the following clause and (B) furnish,
or cause to be furnished, to the Certificateholders, their allocable share of income and expense with respect to the related Specific
Grantor Trust Assets in the time or times and in the manner required by the Code.

 

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(b)    
The Grantor Trust will be treated as a WHFIT that is a WHMT. The Certificate Administrator will report as required under
the WHFIT Regulations to the extent such information as is reasonably necessary to enable the Certificate Administrator to do so
is provided to the Certificate Administrator on a timely basis. The Certificate Administrator is hereby directed to assume that
DTC is the only “middleman” as defined by the WHFIT Regulations unless the Depositor provides the Certificate Administrator
with the identities of other “middlemen” that are Certificateholders. The Certificate Administrator shall be entitled
to rely on the first sentence of this Section 2.11(b) and shall be entitled to indemnification in accordance with the terms
of this Agreement in the event that the Internal Revenue Service makes a determination that the first sentence of this paragraph
is incorrect.

 

(c)           
The Certificate Administrator shall report required WHFIT information using the accrual method, except to the extent the
WHFIT Regulations specifically require a different method. The Certificate Administrator shall be under no obligation to determine
whether any Certificateholder uses the cash or accrual method. The Certificate Administrator shall make available (via its website)
WHFIT information to Certificateholders annually. In addition, the Certificate Administrator shall not be responsible or liable
for providing subsequently amended, revised or updated information to any Certificateholder, unless requested by the Certificateholder.

 

(d)           
The Certificate Administrator shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations
nor for any penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided
to the Certificate Administrator or (ii) incomplete, inaccurate or untimely information being provided to the Certificate
Administrator. Each Certificateholder, by acceptance of its interest in such class of securities, will be deemed to have agreed
to provide the Certificate Administrator with information regarding any sale of such securities, including the price, amount of
proceeds and date of sale. Absent receipt of information regarding any sale of a Certificate, including the price, amount of proceeds
and date of sale from the beneficial owner thereof or the Depositor, the Certificate Administrator shall assume there is no secondary
market trading of WHFIT interests.

 

3.                 
ADMINISTRATION AND SERVICING OF THE WHOLE LOAN

 

3.1.            
Servicer to Act as the Servicer; Special Servicer to Act as the Special Servicer. The Servicer and the Special Servicer,
each as an independent contractor, shall service and administer the Whole Loan and administer any Foreclosed Property solely on
behalf of the Trust Fund and the Companion Loan Holders, in the best interest of, and for the benefit of, all the Certificateholders
and the Companion Loan Holders, as a collective whole as if such Certificateholders and the Companion Loan Holders constituted
one lender (taking into account the relative subordination of the Trust A-B Note and the Non-Trust B Notes) (as determined by the
Servicer or the Special Servicer, as applicable, in the exercise of its good faith and reasonable judgment), in accordance with
applicable law (including the REMIC Provisions), the terms of this Agreement and the terms of the Loan Documents and the Co-Lender
Agreement and, to the extent consistent with the foregoing, the following standards: (i) (a) in the same manner in which
and with the same care, skill, prudence and diligence with which the Servicer or the Special Servicer, as applicable, services
and administers similar loans and manages foreclosed or

 

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other similarly situated properties for third parties, giving due consideration
to customary and usual standards of practice of prudent institutional commercial mortgage lenders in servicing their own loans,
or (b) with the care, skill, prudence and diligence the Servicer or the Special Servicer, as applicable, uses for loans which
it owns or for foreclosed or other similarly situated properties which it owns and manages, whichever is higher; (ii) with
a view to the timely collection of (a) all scheduled payments of principal and interest under the Whole Loan or, if the Whole
Loan comes into and, with respect to the Special Servicer only, 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 Whole Loan to the Certificateholders
and the Companion Loan Holders (as a collective whole, as if the Certificateholders and the Companion Loan Holders constituted
a single lender)(taking into consideration the relative subordination of the Trust A-B Note and the Non-Trust B Notes) on a net
present value basis and (b) the Borrower Reimbursable Trust Fund Expenses and other amounts due under the Whole Loan and (iii) without
regard to:

 

(A)           
any relationship that the Servicer or the Special Servicer or any affiliate thereof may have with the Borrower, the Loan
Seller, any Companion Loan Holder, the Depositor or any of their respective affiliates;

 

(B)             
the ownership of any Certificate or any interest in the Companion Loans by the Servicer or the Special Servicer or by any
affiliate thereof;

 

(C)             
in the case of the Servicer, its obligation to make Advances;

 

(D)           
the right of the Servicer or the Special Servicer or any affiliate thereof 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 mortgage loans or mortgaged property by the Servicer or the
Special Servicer.

 

Subject to the above-described
servicing standards (hereinafter referred to as “Accepted Servicing Practices”) and the terms of this Agreement
and of the Loan Documents, the Servicer and the Special Servicer each shall have full power and authority, acting alone and/or
through one or more sub-servicers as provided in Section 3.2, to do or cause to be done any and all things in connection
with such servicing and administration which it may deem necessary or desirable. The Servicer and the Special Servicer shall service
and administer the Whole Loan in accordance with applicable state and federal law. At the written request of the Servicer or the
Special Servicer, as applicable, accompanied by the form of power of attorney, as set out in Exhibit Q, or other documents
being requested, the Trustee shall furnish to the Servicer or the Special Servicer any powers of attorney and other documents necessary
or appropriate to enable such Servicer or the Special Servicer to carry out its servicing and administrative duties hereunder,
and the Trustee shall not be held responsible (and shall be indemnified by the Servicer or the Special Servicer) for any negligence
or misuse by the Servicer or the Special Servicer in its uses of any such powers of attorney or other document. Notwithstanding
anything contained herein to the contrary, the Servicer and the Special Servicer shall not without the

 

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Trustee’s and the
Certificate Administrator’s, as applicable, prior written consent: (i) initiate any action, suit or proceeding solely
under the Trustee’s or the Certificate Administrator’s name without indicating the representative capacity of the Servicer
or the Special Servicer, as applicable, or (ii) take any action with the intent to, and which actually does cause, the Trustee
or the Certificate Administrator to be registered to do business in any state.

 

The liability of each
of the Servicer and the Special Servicer, as applicable, for actions and omissions in its capacity as Servicer and the Special
Servicer, respectively, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.3).
Nothing contained in this Agreement shall be construed as an express or implied guarantee by the Servicer or the Special Servicer
of the collectibility of the Whole Loan.

 

If the Borrower requests
(i) a Material Alteration whose completion is to be guaranteed by the Guarantor or (ii) the replacement of the Manager with an
Affiliate of the Borrower, and the Servicer or the Special Servicer has the right under the Loan Agreement to require the Borrower
to deliver a non-consolidation opinion as a condition to approving such request, the Servicer or the Special Servicer shall request
that the Borrower deliver a non-consolidation opinion before approving such request.  Promptly after the approval of any such
request, the Servicer or the Special Servicer, as the case may be, shall notify the 17g-5 Information Provider that the Guarantor
providing a completion guarantee or the Manager being replaced by an Affiliate of the Borrower, as the case may be, has been approved,
and the 17g-5 Information Provider shall post such notice on the 17g-5 Information Provider’s Website.

 

3.2.            
Sub-Servicing Agreements. (a)   Each of the Servicer and the Special Servicer, at its own expense without
a right of reimbursement under this Agreement or otherwise, may enter into sub-servicing agreements with sub-servicers for the
servicing and administration of the Whole Loan, provided that (i) any such sub-servicing agreement shall be upon such
terms and conditions as are not inconsistent with this Agreement and as the Servicer or Special Servicer, as applicable, and the
sub-servicer have agreed, (ii) no sub-servicer retained by the Servicer or Special Servicer, as applicable, shall grant any
modification, waiver, or amendment to the Loan Documents without the approval of the Servicer or Special Servicer, as applicable,
and (iii) any such sub-servicer shall be precluded from participating in servicing activities relating to any foreclosure proceedings.
References in this Agreement to actions taken or to be taken, and limitations on actions permitted to be taken, by the Servicer
or Special Servicer, as applicable, in servicing the Whole Loan include actions taken or to be taken by a sub-servicer on behalf
of the Servicer or Special Servicer, as applicable. Each sub-servicer shall be (i) authorized to transact business and licensed
in the applicable state(s), if, and to the extent, required by applicable law to enable the sub-servicer to perform its obligations
under the applicable sub-servicing agreement, and (ii) qualified to perform its obligations under the applicable sub-servicing
agreement. For purposes of this Agreement, the Servicer or Special Servicer, as applicable, shall be deemed to have received any
amount when the sub-servicer receives such amount, irrespective of whether such amount is remitted to the Servicer or Special Servicer,
as applicable, for deposit in the Collection Account, the Companion Loan Account, any Cash Management Account, any Reserve Account
or the Distribution Account, and actions taken by the sub-servicer shall be deemed to be actions of the Servicer or Special Servicer,
as applicable. The Servicer or Special Servicer, as applicable, shall notify the Trustee, the Certificate Administrator, the Borrower,
the Companion Loan Holders and the Depositor in

 

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writing promptly upon the appointment of any sub-servicer and promptly furnish
the Trustee and the Certificate Administrator, upon its request, with a copy of the sub-servicing agreement. No sub-servicer shall
be permitted to enter into any sub-servicing agreement with other sub-servicers without the prior written consent of the Servicer
or Special Servicer, as applicable.

 

(b)          
Notwithstanding any sub-servicing agreement, the Servicer or Special Servicer, as applicable, shall remain obligated and
liable to the Trustee and the Certificateholders for the servicing and administering of the Whole Loan in accordance with the provisions
of Section 3.1 without diminution of such obligation or liability by virtue of such sub-servicing agreement, or by
virtue of indemnification from a sub-servicer, and to the same extent and under the same terms and conditions as if the Servicer
or Special Servicer, as applicable, alone were servicing and administering the Whole Loan.

 

(c)           
Any sub-servicing agreement entered into by the Servicer or Special Servicer, as applicable, shall provide that it may be
assumed or terminated by (i) the Trustee if the Trustee has assumed the duties of the Servicer or Special Servicer, as applicable,
or if the Servicer or Special Servicer, as applicable, is otherwise terminated pursuant to the terms of this Agreement, or (ii) a
successor Servicer or Special Servicer, as applicable, if such successor Servicer or Special Servicer, as applicable, has assumed
the duties of the Servicer or Special Servicer, as applicable, without cost or obligation to the Trustee, the Certificate Administrator,
the successor Servicer or Special Servicer, as applicable, the Trust, the Companion Loan Holders or the Trust Fund.

 

(d)          
Any sub-servicing agreement, and any other transactions or services relating to the Whole Loan involving a sub-servicer,
shall be deemed to be between the Servicer or Special Servicer, as applicable, and such sub-servicer alone, and the Trustee, the
Certificate Administrator, the Depositor, the Trust, the Certificateholders and the Companion Loan Holders shall not be deemed
parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to the sub-servicer, and no provision
herein shall be construed so as to require the Trust, the Trustee, the Certificate Administrator or the Depositor to indemnify
any such sub-servicer. The Servicer or Special Servicer, as applicable, is permitted, at its own expense, or to the extent that
a particular expense is provided herein to be an Advance or an expense of the Trust, at the expense of the Trust, to utilize other
agents or attorneys typically used by servicers of mortgage loans underlying commercial mortgage-backed securities in performing
its obligations under this Agreement.

 

(e)           
Notwithstanding anything herein, each of the initial Servicer and the initial Special Servicer may delegate certain of its
duties and obligations hereunder to an Affiliate of the Servicer or Special Servicer, as applicable. Such delegation shall not
be considered a sub-servicing agreement hereunder, and the requirements and obligations set forth herein applicable to sub-servicing
agreements, sub-servicers or Servicing Function Participants shall not be applicable to such arrangement. Notwithstanding any such
delegation, the Servicer and the Special Servicer shall remain obligated and liable for the performance of their respective obligations
and duties under this Agreement in accordance with the provisions hereof to the same extent and under the same terms and conditions
as if each alone were servicing and administering the Whole Loan as required hereby. Furthermore, each of the initial Servicer
and the initial Special Servicer may contract with third party vendors or sub-contractors for the

 

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performance of limited functions
such as the performance of inspections or conduction of appraisals and such contracts shall not be considered a sub-servicing agreement
hereunder, and the requirements and obligations set forth herein applicable to sub-servicing agreements and sub-servicers shall
not be applicable to such arrangement; provided that the Servicer and the Special Servicer shall remain obligated and liable
for the performance of their respective obligations and duties under this Agreement in accordance with the provisions hereof to
the same extent and under the same terms and conditions as if each alone were performing such functions as required hereby; provided
further that any engagement of a party that performs any activity that addresses the Applicable Servicing Criteria shall be considered
a Servicing Function Participant and the requirements and obligations set forth herein applicable to Servicing Function Participants
shall apply.

 

(f)           
The parties hereto acknowledge that the Whole Loan is subject to the terms and conditions of the Co-Lender Agreement and
recognize the respective rights and obligations of the Trust, as holder of the Trust Loan, and of the Companion Loan Holders, as
holders of the Companion Loans, under the Co-Lender Agreement, including: (i) with respect to the allocation of collections on
or in respect of the Whole Loan, and the making of remittances, to the Trust, as holder of the Trust Loan, and to the Companion
Loan Holders, as holders of the Companion Loans; (ii) with respect to the allocation of expenses and losses relating to the Whole
Loan to the Trust, as holder of the Trust Loan, and to the Companion Loan Holders, as holders of the Companion Loans, and (iii)
to the extent provided for under the Co-Lender Agreement, the consultation rights of the Companion Loan Holders. In the event of
any conflict between this Agreement and the Co-Lender Agreement, the terms of the Co-Lender Agreement shall control with respect
to the Whole Loan.

 

3.3.             
Cash Management Account. A Cash Management Account has been or shall be established pursuant to the terms of the
Loan Agreement. The Servicer shall exercise and enforce the rights of the Trust Fund with respect to the Cash Management Accounts
under the Loan Agreement in accordance with Accepted Servicing Practices.

 

3.4.             
Collection Account, Companion Loan Account and Interest Reserve Account. (a)  The Servicer shall establish and
maintain one or more deposit accounts for the benefit of the Certificateholders in the name of “KeyBank National Association,
as Servicer for Wells Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial
Mortgage Pass-Through Certificates, Series 2019-NEMA” (the “Collection Account”) and (y) one or more deposit
accounts (or, a separate ledger account) for the benefit of the Companion Loan Holders in the name of “KeyBank National Association,
as Servicer for Wells Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial
Mortgage Pass-Through Certificates, Series 2019-NEMA for the benefit of the Companion Loan Holders” (the “Companion
Loan Account”). Each Collection Account must be an Eligible Account maintained with an Eligible Institution (or a ledger
account if one Eligible Account is maintained). The Servicer shall deposit into the Collection Account within two Business Days
of receipt of properly identified and available funds the following amounts representing payments and collections received or made
during each Collection Period on or with respect to the Whole Loan.

 

(i)            
all payments on account of principal on the Whole Loan;

 

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(ii)            
all payments on account of interest on the Whole Loan;

 

(iii)          
any amount representing reimbursements by the Borrower of Advances, interest thereon, and any other expenses of the Depositor,
the Trustee, the Certificate Administrator, the Servicer or the Special Servicer, as applicable, as required by the Loan Documents
or hereunder;

 

(iv)         
any other amounts payable for the benefit of the Servicer, the Special Servicer, the Certificate Administrator, the Trustee
or the Certificateholders under the Whole Loan;

 

(v)               
any amounts required to be deposited pursuant to Section 3.8(b) in connection with net losses realized on Permitted
Investments with respect to funds held in the Collection Account;

 

(vi)         
any amounts representing Condemnation Proceeds or Insurance Proceeds (other than amounts related to clause (b)
of the definition of Insurance Proceeds necessary to be applied to the restoration, preservation or repair of the Property or to
be released to the Borrower in accordance with the Loan Documents);

 

(vii)        
all Net Foreclosure Proceeds received from the Special Servicer pursuant to Section 3.14 and all Net Liquidation
Proceeds; and

 

(viii)       
any other amounts required by the provisions of this Agreement to be deposited into the Collection Account by the Servicer,
including, without limitation, any (1) proceeds of any repurchase of the Trust Loan pursuant to Section 2.8(b)
hereof and the Loan Purchase Agreement, (2) proceeds of a sale of a Defaulted Loan pursuant to Section 3.16 hereof,
or (3) amounts payable under the Loan Documents or the Co-Lender Agreement by any Person to the extent not specifically excluded.

 

The foregoing requirements
for deposits in the Collection Account by the Servicer shall be exclusive, it being understood and agreed that, without limiting
the generality of the foregoing, payments (if any) in the nature of late payment fees (to the extent not applied pursuant to Section 3.4(c)),
Default Interest (to the extent not applied pursuant to Section 3.4(c)), assumption fees, assumption application fees,
substitution fees, defeasance fees, Modification Fees, consent fees, loan service transaction fees, release fees, similar fees
and expenses and any other Additional Servicing Compensation or Additional Special Servicing Compensation to which the Servicer
or Special Servicer, as applicable are entitled pursuant to Section 3.17 and any reimbursement made by the Borrower
of expenses of the Servicer or the Special Servicer need not be deposited in the Collection Account by the Servicer or Special
Servicer and, to the extent permitted by applicable law, the Servicer or the Special Servicer, as applicable, shall be entitled
to retain any such fees and expense reimbursements received with respect to the Whole Loan.

 

(b)           
Funds in the Collection Account or Companion Loan Account may be invested in Permitted Investments in accordance with the
provisions of Section 3.8. The Servicer shall on the Closing Date give written notice to the Certificate Administrator
of the location and

 

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account number of the Collection Account and shall notify the Certificate Administrator in writing prior to
any subsequent change thereof.

 

(c)           
On or prior to each Remittance Date (or such other date as specified below or on which funds are available for such purpose
as specified below), prior to the remittance of Available Funds to the Certificate Administrator for deposit in the Distribution
Account pursuant to Section 3.5, the Servicer shall make withdrawals from the Collection Account (which withdrawals
shall be the only permitted withdrawals from the Collection Account by the Servicer) as described below (the order set forth below
constituting an order of priority for such withdrawals):

 

(i)             
to withdraw funds deposited therein in error;

 

(ii)            
to reimburse the Trustee (and each Other Trustee) and the Servicer (and each Other Servicer), in that order, out of general
collections on the Whole Loan, for any Nonrecoverable Advances made by each and not previously reimbursed together with unpaid
interest thereon at the Advance Rate as follows:

 

(A)            
first, to reimburse Nonrecoverable Advances that are Property Protection Advances and Administrative Advances relating
to the Whole Loan and the Property and interest thereon;

 

(B)             
second, to first reimburse Nonrecoverable Advances that are Monthly Payment Advances or Senior Companion Loan Advances
on the A Notes and interest thereon, on a pro rata and pari passu basis, then to reimburse Nonrecoverable Advances
that are Monthly Payment Advances on the Trust A-B Note and interest thereon; and

 

(C)             
third, to reimburse each Other Servicer for its pro rata share of Nonrecoverable Advances previously paid
from general collections on the related Senior Companion Loan Securitization Trust; provided, however, that interest
on such Nonrecoverable Advances shall be paid first out of Default Interest or late payment charges collected in the related Collection
Period before such interest on Advances is paid out of other amounts on deposit in the Collection Account;

 

(iii)          
concurrently, to pay the Servicing Fee to the Servicer (or with respect to the Excess Servicing Fee Rights, to pay any Excess
Servicing Fes to the holder of such Excess Servicing Fee Rights) from amounts on deposit with respect to the Whole Loan or Foreclosed
Property, as the case may be, and the Certificate Administrator Fee (including the portion that is the Trustee Fee) to the Certificate
Administrator, as applicable;

 

(iv)          
(A) to pay to the Servicer, as additional compensation, any income earned (net of losses (subject to Section 3.8(b))
on the investment of funds deposited in the Collection Account; and (B) to pay to the Special Servicer, the Special Servicing Fee,
if any, the Work-out Fee, if any and the Liquidation Fee, if any (with respect to clauses (A) and (B), in that
order);

 

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(v)            
to reimburse the Trustee (and each Other Trustee) and the Servicer (and each Other Servicer), in that order, for (A) Advances
made by each and not previously reimbursed from late payments received during the applicable period on the Whole Loan, Liquidation
Proceeds, Foreclosure Proceeds and other collections on the Whole Loan; provided that any Advance that has been determined
to be a Nonrecoverable Advance shall be reimbursed pursuant to clause (ii) above and (B) unpaid interest on such
Advances at the Advance Rate (subject to the same order of priority as between the payment of Advances with respect to the A Notes
and the Trust A-B Note as provided in clause (ii) above); provided, however, that interest on Advances shall
be paid first out of Default Interest or late payment charges collected in the related Collection Period before such interest on
Advances is paid out of other amounts on deposit in the Collection Account;

 

(vi)          
to reimburse the Trustee, the Certificate Administrator, the Servicer and the Special Servicer, in that order, for expenses
incurred by them in connection with the liquidation of the Whole Loan or Foreclosed Property and not otherwise covered and paid
by an insurance policy or deducted from the proceeds of liquidation;

 

(vii)         
(A) to pay to the Servicer, as additional compensation, to the extent actually received from the Borrower, any payments
(if any) in the nature of Default Interest (to the extent not withdrawn to reimburse the Trustee or the Servicer (or the Other
Trustee or Other Servicer with respect to each Senior Companion Loan Securitization Trust) for unpaid interest on any Advances
pursuant to clause (ii) or (v)(B) above), late payment fees (to the extent not withdrawn to reimburse the Trustee or the Servicer
for unpaid interest on any Advances pursuant to clause (ii) or (v)(B) above), Additional Servicing Compensation including,
but not limited to, assumption fees, assumption application fees, defeasance fees, substitution fees, Modification Fees, consent
fees, loan service transaction fees and similar fees and expenses which the Servicer is entitled to pursuant to Section 3.17;
provided, however, that such amounts received during each Collection Period shall be deemed to have been deposited
in the Collection Account and withdrawn pursuant to this clause (vii) solely for the purpose of determining the Available
Funds Reduction Amount in connection with the calculation of Available Funds for the related Distribution Date; and (B) to pay
to the Special Servicer, as additional compensation, (i) Additional Special Servicing Compensation and (ii) any income earned on
the investment of funds deposited in the Foreclosed Property Account;

 

(viii)       
to pay or reimburse the Trustee, the Certificate Administrator, the Servicer, the Special Servicer and the Depositor, in
that order, for any indemnities, expenses and other amounts then due and payable or reimbursable to each pursuant to the terms
of this Agreement, including any Trust Fund Expenses, in each case, not previously paid or reimbursed pursuant to the preceding
clauses;

 

(ix)           
to deposit into the Companion Loan Account any portion of such collections that are required to be distributed to the Companion
Loan Holders in respect of the Companion Loans pursuant to the Co-Lender Agreement;

 

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(x)            
to the extent not previously paid or advanced, to pay to the Certificate Administrator (or set aside for eventual payment)
any and all taxes imposed on the Trust or the Trust Fund by federal or state governmental authorities; provided, that if
such taxes are the result of the Depositor’s, Servicer’s, Special Servicer’s, the Certificate Administrator’s
or Trustee’s, as applicable, negligence, bad faith, fraud or willful misconduct, such amounts may not be withdrawn from the
Collection Account, but will be paid by such party that was negligent, acted in bad faith or fraudulently or engaged in willful
misconduct pursuant to Sections 6.3, 6.6, 8.1, 8.3 and 8.12;

 

(xi)           
to pay (or set aside for eventual payment) any and all taxes imposed on the Lower-Tier REMIC or Upper-Tier REMIC by federal
or state governmental authorities to the extent such taxes have not been paid pursuant to Section 12.1(k); and

 

(xii)         
to pay the CREFC® Intellectual Property Royalty License Fee to CREFC®, to the extent funds
are available following the withdrawal of the amounts described in clauses (i)-(xi) above.

 

For the avoidance of
doubt, payments or collections allocable to the Trust Loan shall be received from or made to the Collection Account and payments
or collections allocable to the Junior Companion Loans shall be received from or made to the Companion Loan Account.

 

Notwithstanding the foregoing,
with respect to any Remittance Date, in no event shall the Servicer be permitted to make a withdrawal pursuant to clauses 3.4(c)(iii),
(iv), (v), (vi), (viii) or (xii) if, as a result of such withdrawal, the amount on deposit in
the Collection Account after giving effect to such withdrawal would be less than the Required Advance Amount; provided that
the Servicer shall be permitted to make withdrawals in the order of priority specified above up to the amount on deposit in the
Collection Account that would result in funds equaling or exceeding the Required Advance Amount remaining in the Collection Account.
Notwithstanding the foregoing, such withdrawal limitations shall not apply upon (1) the final liquidation of the Whole Loan
and/or the Property, (2) the final payment of the Whole Loan and release of the Mortgage or (3) the determination that any
Advance that would increase the currently unreimbursed Advances in the aggregate would be a Nonrecoverable Advance. For the avoidance
of doubt, in no event shall the Servicer be permitted to apply any portion of collections that are required to be distributed to
the Companion Loan Holders in respect of the Companion Loans pursuant to the terms of the Co-Lender Agreement to pay or reimburse
any CREFC® Intellectual Property Royalty License Fee, the Certificate Administrator Fee (including the portion that
is the Trustee Fee) or any Trust Fund Expenses that are not related to the servicing and administration of the Trust Loan or the
Property.

 

On the Remittance Date,
the Servicer shall pay to the Certificate Administrator (on behalf of itself and the Trustee) and advance or pay to the Special
Servicer, if applicable, from the Collection Account as provided above amounts permitted to be paid to the Special Servicer, the
Certificate Administrator and the Trustee, as applicable, therefrom, upon receipt on or prior to the Determination Date of certificates
of a Servicing Officer of the Special Servicer or a Responsible Officer of the Certificate Administrator and the Trustee, as applicable,
describing the item and amount to which the Special Servicer, the Certificate Administrator and the Trustee, respectively, are
entitled. The Servicer may rely conclusively on any such certificate, shall have

 

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no duty to recalculate the amounts stated therein
and shall have no liability if the amount paid in reliance thereon is an amount to which the Special Servicer, the Certificate
Administrator or the Trustee, as applicable, is not entitled.

 

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

 

(e)            
On each Remittance Date or, following the securitization of any Senior Companion Loan, on or prior to the day that is the
earlier of (A) the Remittance Date and (B) the Business Day following the “determination date” (or any term substantially
similar thereto), as such term is defined in the related Senior Companion Loan Pooling and Servicing Agreement as long (provided
that no remittance is required to be made until two Business Days after receipt of the scheduled Monthly Payment with respect to
the Whole Loan), the Servicer shall distribute all funds in the Collection Account (or any sub-account thereof established for
the benefit of the Companion Loan Account) to the Senior Companion Loan Holders in accordance with the amounts due to such holder
under the terms of the Co-Lender Agreement.

 

(f)             
In addition, the Servicer shall withdraw from the Collection Account (or any subaccount thereof established for the benefit
of the Companion Loan Account) and remit to the holder of each Senior Companion Loan, within one Business Day of receipt of properly
identified funds, any amounts that represent late collections or principal prepayments on such Senior Companion Loan 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 the Co-Lender Agreement), unless such amount would otherwise be included in such distributions on or before the Remittance
Date pursuant to Section 3.4(c); provided, however, that to the extent any such amounts are received after 3:00 p.m. Eastern
time on any given Business Day, the Servicer shall use efforts consistent with Accepted Servicing Practices to remit such late
collections or principal prepayments to the holder of each Senior Companion Loan within one Business Day of receipt of such properly
identified funds but, in any event, the Servicer shall remit such amounts within two Business Days of receipt of such properly
identified funds.

 

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3.5.            
Distribution Account. (a) The Certificate Administrator shall establish and maintain on behalf of the Trustee and
for the benefit of the Certificateholders a segregated non-interest bearing trust account (the “Distribution Account”),
which shall be deemed to include the Lower-Tier Distribution Account, the Upper-Tier Distribution Account and the Regular Interest
Distribution Account, which shall be subaccounts of the Distribution Account for the benefit of the Certificateholders and the
Trustee, as Holder of the Uncertificated Lower-Tier Interests and the Regular Interests (the “Lower-Tier Distribution
Account”, “Upper-Tier Distribution Account” and “Regular Interest Distribution Account”,
respectively). The Distribution Account must be an Eligible Account. On each Remittance Date, the Servicer shall transfer from
the Collection Account to the Certificate Administrator for deposit into the Distribution Account all funds remaining on deposit
therein pursuant to clause (xii) of Section 3.4(c). The Certificate Administrator shall credit the funds
remitted by the Servicer from the Collection Account to the Distribution Account. Amounts held in the Distribution Account shall
be uninvested.

 

The Certificate Administrator
shall make withdrawals from the Distribution Account (i) to withdraw any amounts deposited therein in error, (ii) to deposit any
required Withheld Amounts into the Interest Reserve Account pursuant to Section 3.4(d) and (iii) to make distributions to
the Holders of the Certificates pursuant to Section 4.1.

 

(b)           
The Certificate Administrator shall make or be deemed to have made withdrawals from the Lower-Tier Distribution Account
in the following order of priority and only for the following purposes:

 

(i)             
to make deposits of the Lower-Tier Distribution Amount pursuant to Section 4.1(b) and Section 4.3(b)
into the Upper-Tier Distribution Account and to make distributions to the Holder of the Class R Certificates (in respect of
the Class LT-R Interest) pursuant to Section 4.1(b);

 

(ii)            
to withdraw amounts deposited into the Lower-Tier Distribution Account in error and pay such amounts to the Persons entitled
thereto; and

 

(iii)          
to clear and terminate the Lower-Tier Distribution Account pursuant to Section 10.2.

 

(c)           
The Certificate Administrator shall make withdrawals from the Upper-Tier Distribution Account in the following order of
priority and only for the following purposes:

 

(i)             
to withdraw amounts deposited in error;

 

(ii)           
to make deposits in the Regular Interest Distribution Account in respect in respect of amounts distributed to the Holders
of the Regular Interests and to make distributions to Holders of the Class R Certificates (in respect of the Class UT-R
Interest) on each Distribution Date pursuant to Section 4.1(a) or Sections 10.1 and 10.2 as applicable;
and

 

(iii)          
to clear and terminate the Upper-Tier Distribution Account at the termination of this Agreement pursuant to Section 10.2.

 

     -88-

     

    

 

(d)           
The Certificate Administrator shall make withdrawals from the Regular Interest Distribution Account in the following order
of priority and only for the following purposes:

 

(i)             
to withdraw amounts deposited in error;

 

(ii)            
to make distributions to Holders of the Certificates (other than the Class R Certificates) on each Distribution Date pursuant
to Section 4.1(b) or Sections 10.1 and 10.2 as applicable; and

 

(iii)          
to clear and terminate the Regular Interest Distribution Account at the termination of this Agreement pursuant to Section
10.2.

 

3.6.            
Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the
“Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the
name of “Situs Holdings, LLC, as Special Servicer for Wells Fargo Bank, National Association, as Trustee of Natixis Commercial
Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA” related to the Foreclosed
Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and
the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution.
The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified
funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination
Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves
(to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with
the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into
the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator
in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator
in writing prior to any subsequent change thereof.

 

3.7.            
Appraisal Reductions. (a)  Within 30 days after the occurrence of an Appraisal Reduction Event with respect
to the Whole Loan, the Special Servicer shall (i) notify the Servicer, the Trustee and the Certificate Administrator and,
during any Subordinate Control Period or Subordinate Consultation Period, the Directing Holder, of such occurrence of an Appraisal
Reduction Event and (ii) order an Appraisal of the Property (provided that the Special Servicer will not be required
to obtain an Appraisal of the Property with respect to which there exists an Appraisal which is less than nine months old, unless
it has actual knowledge of a material adverse change in the market or condition or value of the Property) and no later than the
later of (a) 60 days after the Appraisal Reduction Event with respect to the Whole Loan or (b) 10 Business Days after obtaining
the final Appraisal of the Property, the Special Servicer shall determine on the basis of such Appraisal whether there exists
any Appraisal Reduction Amount and if so, give reasonably prompt notice thereof to the Companion Loan Holders. The cost of obtaining
any such Appraisal shall be paid by the Servicer as a Property Protection Advance or an Administrative Advance unless it would
constitute a Nonrecoverable Advance.

 

     -89-

     

    

 

Updates of any such Appraisal shall be obtained by the Special Servicer, and paid for by the
Servicer as a Property Protection Advance or an Administrative Advance every twelve months for so long as an Appraisal Reduction
Event exists, and the Appraisal Reduction Amount shall be adjusted accordingly. If required in accordance with any such adjustment,
each Class of Certificates that has been notionally reduced as a result of Appraisal Reduction Amounts shall have its related Certificate
Balance notionally restored by the Certificate Administrator or the Trustee to the extent required by such adjustment of the Appraisal
Reduction Amount, and there will be a redetermination of whether a Subordinate Control Period or Subordinate Consultation Period
is in effect. Any such Appraisal obtained pursuant to this Section 3.7(a) will be delivered by the Special Servicer
to the Servicer, the 17g-5 Information Provider, the Certificate Administrator, Companion Loan Holders and, during any Subordinate
Control Period or Subordinate Consultation Period, the Directing Holder in electronic format and the Certificate Administrator
shall make such Appraisal available to Privileged Persons pursuant to Section 8.14(b). The 17g-5 Information Provider shall
post such Appraisal on the 17g-5 Information Provider’s Website pursuant to Section 8.14(b). Following notification
from the Special Servicer of any Appraisal Reduction Amount, the Servicer and the Trustee shall notify the Other Servicer and Other
Trustee of the existence of an Appraisal Reduction Event and any related Appraisal Reduction Amount. Following notification from
the Special Servicer, the Servicer and the Trustee shall be deemed to have delivered notice of any such Appraisal Reduction Event
and any related Appraisal Reduction Amount if the Servicer includes such event and/or amount in its monthly servicer statements
provided to the Other Servicer.

 

The Whole Loan will be
treated as a single mortgage loan for purposes of calculating the Appraisal Reduction Amount. Any Appraisal Reduction Amount with
respect to the Whole Loan shall be allocated first, to Note B-2, up to the full outstanding principal balance thereof, then,
to Note B-1, up to the full outstanding principal balance thereof, then, to the Trust A-B Note, up to the full outstanding
principal balance thereof, and then, to the Trust A Note and the Non-Trust A Notes, on a pro rata and pari passu
basis, based on their respective outstanding principal balances.

 

(b)           
While an Appraisal Reduction Amount exists, (i) the amount of any Monthly Payment Advances with respect to the Trust
Loan shall be reduced as provided in Section 3.23(a) and (ii) the existence thereof will be taken into account
for purposes of determining the Voting Rights of certain Classes of Certificates as provided in Section 3.7(c).

 

(c)           
The Certificate Balance of each of the Sequential Pay Certificates shall be notionally reduced (solely for purposes of determining
(i) the Voting Rights of the related Classes and (ii) whether a Subordinate Control Period or Subordinate Consultation Period is
in effect) on any Distribution Date to the extent of the Appraisal Reduction Amount allocated to such Class on such Distribution
Date. The Appraisal Reduction Amount for any Distribution Date shall be applied to notionally reduce the Certificate Balances of
the Certificates in the following order of priority: first, to the Class D Certificates; second, to the Class
C Certificates; and third, to the Class B Certificates (provided in each case that no Certificate Balance in respect
of any such Class may be notionally reduced below zero). Appraisal Reduction Amounts shall not be applied to notionally reduce
the Certificate Balance of any Class A Certificate.

 

Any such allocations
of Appraisal Reduction Amounts to:

 

     -90-

     

    

 

(i)              
the Class A Regular Interest shall be further allocated to the Class A Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion to the Class A Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively;

 

(ii)              
the Class B Regular Interest shall be further allocated to the Class B Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion to the Class B Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively;

 

(iii)            
the Class C Regular Interest shall be further allocated to the Class C Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion to the Class C Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively; and

 

(iv)            
the Class D Regular Interest shall be further allocated to the Class D Certificates, the Class V-D Certificates and the
Class V2 Certificates, pro rata in proportion to the Class D Percentage Interest, the Class V-D Percentage Interest and
the Class V2 Percentage Interest, respectively.

 

(d)           
In the event that a portion(s) of one or more Monthly Payment Advances with respect to the Trust Loan was reduced as a result
of an Appraisal Reduction Event, the amount of the Net Liquidation Proceeds to be applied to interest shall be reduced by the aggregate
amount of such reductions and the portion of such Net Liquidation Proceeds to be applied to principal shall be increased by such
amount, and if the amounts of the Net Liquidation Proceeds to be applied to principal have been applied to pay the principal of
the Trust Loan in full, any remaining Net Liquidation Proceeds shall then be applied to pay any remaining accrued and unpaid interest
on the Trust Loan in accordance with Section 1.3.

 

(e)            If (i) an Appraisal Reduction Event has occurred, (ii) either (A) no Appraisal or update of the Appraisal has been obtained
or conducted with respect to the Property or Foreclosed Property, as the case may be, during the 12-month period prior to the date
of such Appraisal Reduction Event or (B) a material change in the circumstances surrounding the Property or Foreclosed Property,
as the case may be, has occurred since the date of the most recent Appraisal that would materially and adversely affect the value
of the Property or Foreclosed Property, as the case may be, and (iii) no new final Appraisal has been obtained or conducted for
the Property or Foreclosed Property, as the case may be, within 60 days after the Appraisal Reduction Event has occurred, then
(x) until the new Appraisal is conducted, the Appraisal Reduction Amount for the Whole Loan shall be equal to 25% of the Loan Principal
Balance for the Whole Loan, and (y) upon receipt or performance of the new Appraisal by the Special Servicer, the Appraisal Reduction
Amount for the Property or Foreclosed Property, as the case may be, shall be recalculated in accordance with the definition of
Appraisal Reduction Amount. Notwithstanding the foregoing, solely for purposes of determining whether a Subordinate Control Period
or a Subordinate Consultation Period is then in effect or the allocation of Voting Rights for certain purposes, deemed Appraisal
Reduction Amounts imposed pursuant to clause (x) of the preceding sentence will not be allocated to any Class of Certificates;
provided, however, this sentence shall not affect in any manner the effect of Appraisal Reduction

 

     -91-

     

    

 

Amounts based upon
anything other than such clause (x), including when the related Appraisals are received.

 

With respect to any Appraisal
Reduction Amount calculated for purposes of determining an Appraisal Reduction Event, the appraised value (as determined by an
updated Appraisal) of the Property securing the Whole Loan will be determined on an “as-is” basis, based upon the current
physical condition, use and zoning of the Property as of the date of the Appraisal.

 

If the Certificate Balance
of the Class D Certificates (taking into account the application of any Appraisal Reduction Amounts to notionally reduce the Certificate
Balance of such Class) has been reduced to less than 25% of its Initial Certificate Balance, such Class will be referred to as
the “Appraised-Out Class”. The Holders of the majority (by Certificate Balance) of the Appraised-Out Class shall
have the right, at their sole expense, to require the Special Servicer to order a second Appraisal of the Property (such Holders,
the “Requesting Holders”). The Special Servicer shall use its commercially reasonable efforts to ensure that
such Appraisal is delivered within 60 days from receipt of the Requesting Holders’ written request and shall ensure
that such Appraisal is prepared by an Independent Appraiser).

 

In addition, if subsequent
to the Class D Certificates becoming an Appraised-Out Class there is a material change with respect to the Property related to
the Appraisal Reduction Amounts that caused such Class to become an Appraised-Out Class, the Requesting Holders will have the right
to request, in writing, that the Special Servicer obtain an additional Appraisal, which request shall set forth the Requesting
Holder’s belief of what constitutes a material change to the Property (including any related documentation). The costs of
obtaining such additional Appraisal will be paid by the Requesting Holders. Subject to the Special Servicer’s confirmation,
determined in accordance with Accepted Servicing Practices, that there has been a change with respect to the Property and such
change was material, the Special Servicer shall order another Appraisal from an Independent Appraiser, the identity of which shall
be determined by the Special Servicer in accordance with Accepted Servicing Practices (provided that such Independent Appraiser
may not be the same Independent Appraiser that provided the Appraisal in respect of which the Requesting Holders are requesting
the Special Servicer to obtain an additional Appraisal and provided further that the Holders of an Appraised-Out Class may
require the Special Servicer to order an additional Appraisal no more than once in any nine-month period). Appraisals that are
permitted to be requested by any Appraised-Out Class shall be in addition to any Appraisals that the Special Servicer may otherwise
be required to obtain in accordance with Accepted Servicing Practices upon the occurrence of such material change or that the Special
Servicer is otherwise required or permitted to order under this Agreement without regard to any Appraisal requests made by any
Requesting Holder.

 

Upon receipt of any supplemental
Appraisal pursuant to the two preceding paragraphs, the Special Servicer shall recalculate such Appraisal Reduction Amounts based
upon such second Appraisal. If required by any such recalculation, the applicable Appraised-Out Class shall be reinstated as the
Controlling Class and each other Appraised-Out Class shall, if applicable, have its related Certificate Balance notionally restored
to the extent required by such recalculation of the Appraisal Reduction Amounts.

 

     -92-

     

    

 

Any Appraised-Out Class
for which the Requesting Holders are challenging the Special Servicer’s Appraisal Reduction Amounts determination may not
exercise any rights of the related Controlling Class until such time, if any, as such Class is reinstated as the Controlling Class.

 

In addition, the Special
Servicer shall comply with the terms of the Co-Lender Agreement with respect to the rights of a Companion Loan Holder to request
or obtain additional Appraisals and to request recalculations of the Appraisal Reduction Amounts.

 

3.8.            
Investment of Funds in the Collection Account, the Companion Loan Account and the Foreclosed Property Account. (a)  The
Servicer (and, with respect to the Foreclosed Property Account, the Special Servicer) may direct any depository institution maintaining
the Collection Account, the Companion Loan Account, the Foreclosed Property Account and any Reserve Account (to the extent interest
is not payable to the Borrower), respectively (each, for purposes of this Section 3.8, an “Investment Account”),
to invest the funds in such Investment Account in one or more Permitted Investments that bear interest or are sold at a discount,
and that mature, unless payable on demand, no later than the Business Day preceding the date on which such funds are required to
be withdrawn from such Investment Account pursuant to this Agreement. Any direction by the Servicer or the Special Servicer, as
applicable, to invest funds on deposit in an Investment Account shall be in writing and shall certify that the requested investment
is a Permitted Investment which matures at or prior to the time required hereby or is payable on demand. All such Permitted Investments
shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name
of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee on behalf of the Trust. The Certificate Administrator
shall have sole control (except with respect to investment direction, which shall be in the control of the Servicer (or the Special
Servicer, with respect to any Foreclosed Property Account) as an independent contractor to the Trust Fund) over each such investment
and any certificate or other instrument evidencing any such investment shall be delivered directly to the Certificate Administrator
or its agent (which shall initially be the Servicer or the Special Servicer, as applicable), together with any document of transfer,
if any, necessary to transfer title to such investment to the Trustee or its nominee. The Trustee and the Certificate Administrator
shall have no responsibility or liability with respect to the investment directions of the Servicer or the Special Servicer, as
applicable, or any losses resulting therefrom, whether from Permitted Investments or otherwise. In the event amounts on deposit
in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Servicer and the Special Servicer,
as applicable, shall:

 

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

 

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

 

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(b)           
All net income and gain realized from investment of funds deposited in the Collection Account, the Companion Loan Account
and the Reserve Accounts (to the extent not payable to the Borrower) shall be for the benefit of the Servicer in accordance with
the terms and priorities of this Agreement. All net income and gain realized from investment of funds deposited in the Foreclosed
Property Account shall be for the benefit of the Special Servicer. Any net losses on funds in the Collection Account, the Companion
Loan Account, the Reserve Accounts (except in the case of any such loss with respect to a Reserve Account, to the extent such
losses are incurred on amounts invested for the benefit of the Borrower pursuant to and in accordance with the terms of the Loan
Documents) or the Foreclosed Property Account shall be reimbursed by the Servicer or the Special Servicer, as applicable, from
its own funds promptly, but in any event on or prior to the Remittance Date following the realization of such loss. Notwithstanding
the above, neither the Servicer nor the Special Servicer shall be required to deposit any loss on an investment of funds in an
Investment Account if such loss was incurred solely as a result of the insolvency of the federal or state chartered depositary
institution or trust company that holds such Investment Account so long as (i) such depositary institution or trust company
satisfied the qualifications set forth in the definition of Eligible Institution at the time such investment was made and (ii) such
loss was incurred within 30 days after the date of such insolvency, and (iii) such loss is not the result of fraud, negligence,
bad faith or willful misconduct of the Servicer or Special Servicer, as applicable.

 

(c)           
Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any
Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment, the Servicer shall
take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate
proceedings. In the event the Servicer takes any such action, the Trust Fund shall pay or reimburse the Servicer, pursuant to Section 3.4(c),
for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Servicer in connection therewith.

 

(d)           
Notwithstanding the foregoing, none of the Servicer, the Special Servicer, the Certificate Administrator or the Trustee
(in its capacity as the Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be) shall
cover any losses from the bankruptcy or insolvency of a depository institution holding an account described in this Section 3.8,
if (i) immediately prior to such bankruptcy or insolvency such institution was an Eligible Institution at the time of such deposit
and (ii) such loss was not the result of fraud, bad faith, negligence or willful misconduct of the Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable.

 

3.9.             
Payment of Taxes, Assessments, etc. The Servicer (other than with respect to any Foreclosed Property) and the Special
Servicer (with respect to any Foreclosed Property) shall maintain accurate records with respect to the Property (or Foreclosed
Property, as the case may be) reflecting the status of taxes, assessments, charges and other similar items that are or may become
a lien on the Property (or Foreclosed Property, as the case may be) and the status of insurance premiums payable in respect of
insurance policies required to be maintained pursuant to Section 3.11 hereof. The Servicer shall obtain, from time
to time, all bills for the payment of such items (including renewal premiums). The Servicer shall pay (or cause to be paid) real
estate taxes, insurance premiums and other similar items from funds in the applicable

 

     -94-

     

    

 

Reserve Account in accordance with the Loan
Agreement at such time as may be required by the Loan Documents. If the Borrower does not make the necessary payments and/or a
Loan Event of Default has occurred and amounts in the applicable Reserve Account are insufficient to make such payments, the Servicer
shall make a Property Protection Advance, subject to the determination of non-recoverability provided in Section 3.23,
from its own funds for amounts payable with respect to all such items related to the Property when and as the same shall become
due and payable. The Servicer shall ensure that the amount of funds in the applicable Reserve Account is increased when and if
applicable taxes, assessments, charges and other similar items, ground rents, leasehold rents or insurance premiums are increased,
in accordance with the terms of the Loan Agreement.

 

3.10.         
Appointment of Special Servicer. (a)  Situs Holdings, LLC is hereby appointed as the initial Special Servicer
to service the Whole Loan while a Special Servicing Loan Event has occurred and is continuing and perform the other obligations
of the Special Servicer hereunder.

 

(b)           
If there is a Special Servicer Termination Event with respect to the Special Servicer, the Special Servicer may be removed
and replaced pursuant to Sections 7.1 and 7.2. The Trustee or the Certificate Administrator, as applicable,
shall, promptly after receiving notice of any such Special Servicer Termination Event, notify the Servicer, the Trustee (in the
case of the Certificate Administrator) and the Certificate Administrator (which shall post such notice on the Certificate Administrator’s
Website in accordance with Section 8.14(b)), the Senior Companion Loan Holders and the 17g-5 Information Provider (which
shall post such notice on the 17g-5 Information Provider’s Website in accordance with Section 8.14(b). The appointment
of any such successor Special Servicer shall not relieve the Servicer or the Trustee of their respective obligations to make Advances
as set forth herein; provided, however, the initial Special Servicer specified above shall not be liable for any
actions or any inaction of such successor Special Servicer. No termination fee shall be payable to the terminated Special Servicer.
No termination of the Special Servicer and appointment of a successor Special Servicer shall be effective until the successor Special
Servicer has assumed all of its responsibilities, duties and liabilities hereunder in writing and a Rating Agency Confirmation
with respect to such appointment has been delivered to the Trustee. Any successor Special Servicer shall be deemed to make the
representations and warranties provided for in Section 2.5(a) mutatis mutandis as of the date of its succession.
The terminated Special Servicer shall retain all rights accruing to it under this Agreement, including the right to receive fees
accrued prior to its termination and other amounts payable to it (including indemnification payments).

 

(c)            
Upon determining that a Special Servicing Loan Event has occurred and is continuing with respect to the Whole Loan, the
Servicer shall immediately give notice thereof to the Special Servicer, the Trustee, and the Certificate Administrator and the
Companion Loan Holders and the Servicer shall use its reasonable efforts to provide the Special Servicer with all information,
documents (but excluding the original documents constituting the Mortgage File) and records (including records stored electronically
on computer tapes, magnetic discs and the like) relating to the Whole Loan and reasonably requested by the Special Servicer to
enable it to assume its duties hereunder with respect thereto. The Servicer shall use its reasonable efforts to comply with the
preceding sentence within five Business Days of the date that a Special

 

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Servicing Loan Event has occurred. The Servicer, in any
event, shall continue to act as Servicer and administrator of the Whole Loan until the Special Servicer has commenced the servicing
of the Whole Loan, upon the occurrence and during the continuation of a Special Servicing Loan Event, which commencement shall
occur, in the case of a Special Servicing Loan Event, upon the receipt by the Special Servicer of the information, documents and
records referred to in the preceding sentence. The Special Servicer shall instruct the Borrower to continue to remit all payments
in respect of the Whole Loan to the Servicer. The Servicer shall forward any notices it would otherwise send to the Borrower under
the Whole Loan to the Special Servicer who shall send such notice to the Borrower while a Special Servicing Loan Event has occurred
and is continuing.

 

(d)           
Upon determining that a Special Servicing Loan Event is no longer continuing with respect to the Whole Loan, the Special
Servicer shall promptly give notice thereof to the Servicer, the Trustee, the Certificate Administrator and the Companion Loan
Holders, and upon giving such notice such Special Servicing Loan Event shall cease, the Special Servicer’s obligation to
service the Whole Loan shall terminate and the obligations of the Servicer to service and administer the Whole Loan shall resume
and the Special Servicer shall return all of the information and materials furnished to the Special Servicer pursuant to Section 3.10(c)
to the Servicer.

 

(e)           
In making a Major Decision or in servicing the Whole Loan during the continuance of a Special Servicing Loan Event, the
Special Servicer shall provide to the Certificate Administrator originals of documents entered into in connection therewith that
are required to be included within the definition of “Mortgage File” for inclusion in the Mortgage File (to
the extent such documents are in the possession of the Special Servicer) and copies of any additional Whole Loan information, including
correspondence with the Borrower, and the Special Servicer shall promptly provide copies of all of the foregoing to the Servicer
as well as copies of any related analysis or internal review prepared by or for the benefit of the Special Servicer.

 

(f)            
During any period in which a Special Servicing Loan Event is continuing with respect to the Whole Loan, on the Determination
Date, the Special Servicer shall deliver to the Servicer to the extent not included in the CREFC® Special Servicer
Loan File a written statement describing (i) the amount of all payments on account of interest received on the Whole Loan,
the amount of all payments on account of principal received on the Whole Loan, the amount of Insurance Proceeds, Condemnation Proceeds
and Net Liquidation Proceeds received, the amount of any Foreclosure Proceeds received with respect to the Property, and the amount
of net income or net loss, as determined from management of a trade or business on, the furnishing or rendering of a non-customary
service to the tenants of, or the receipt of any rental income that does not constitute rents from real property with respect to,
the Foreclosed Property, in each case in accordance with Section 3.15 and (ii) such additional information relating
to the Whole Loan as the Servicer or the Certificate Administrator reasonably requests to enable it to perform its duties under
this Agreement.

 

(g)           
Notwithstanding the provisions of the preceding subsection (c), the Servicer shall maintain ongoing payment records
with respect to the Whole Loan and shall

 

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provide the Special Servicer with any information reasonably required by the Special Servicer
to perform its duties under this Agreement.

 

(h)          
Within 60 days after a Special Servicing Loan Event occurs with respect to the Whole Loan, the Special Servicer shall prepare
a report (the “Asset Status Report”) for the Whole Loan and the Property and deliver such report in electronic
format to the Servicer, the Directing Holder (but only during any Subordinate Control Period or Subordinate Consultation Period),
the Risk Retention Consultation Party (for so long as it is not a Borrower Related Party), the Companion Loan Holders (for so long
as it is not a Borrower Related Party) and to the 17g-5 Information Provider in accordance with Section 8.14(b), (who
shall promptly post it to the 17g-5 Information Provider’s Website pursuant to Section 8.14(b)). Such Asset Status
Report shall set forth the following information to the extent reasonably determinable:

 

(i)             
summary of the status of the Whole Loan and any negotiations with the Borrower;

 

(ii)           
a discussion of the legal and environmental considerations reasonably known at such time to the Special Servicer, consistent
with Accepted Servicing Practices, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related
guaranties or other collateral for the Whole Loan and whether outside legal counsel has been retained;

 

(iii)          
the most current rent roll and income or operating statement available for the Property;

 

(iv)          
the Special Servicer’s recommendations on how the Whole Loan might be returned to performing status or otherwise realized
upon;

 

(v)           
the appraised value of the Property together with the assumptions used in the calculation thereof;

 

(vi)           the status of any foreclosure actions or other proceedings undertaken with respect thereto, any proposed workouts with respect
thereto and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional Loan
Events of Default;

 

(vii)        
a description of any proposed or taken actions;

 

(viii)       
the alternative courses of action considered by the Special Servicer in connection with the proposed or taken actions;

 

(ix)          
the decision that the Special Servicer made or intends or proposes to make, including a narrative analysis setting forth
the Special Servicer’s rationale for its proposed decision, including its rejection of the alternatives; and an analysis
of whether or not taking such action is reasonably likely to produce a greater recovery on a present value basis than not taking
such action, setting forth (x) the basis on which the Special Servicer made such determination and (y) the net present
value calculation (including the applicable discount rate used) and all related assumptions; and

 

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(x)             
such other information as the Special Servicer deems relevant in light of the proposed action and Accepted Servicing Practices.

 

The Special Servicer
shall (x) deliver to the Certificate Administrator and 17g-5 Information Provider the Final Asset Status Report and to the
Certificate Administrator a proposed notice to Certificateholders that will include a summary of the Final Asset Status Report
in an electronic format (which shall be a brief summary of the current status of the Property, but will not include any information
related to its workout strategy with respect to the Whole Loan), and the Certificate Administrator shall post such summary on the
Certificate Administrator’s Website pursuant to Section 8.14(b) and (y) implement the Asset Status Report
in the form delivered to the Certificate Administrator. The 17g-5 Information Provider shall post the Asset Status Report on the
17g-5 Information Provider’s Website. The Special Servicer may, from time to time, modify any Asset Status Report it has
previously delivered and, following the prompt delivery of such modified Asset Status Report to the 17g-5 Information Provider
and a summary of the same to the Certificate Administrator, and each shall post the modified Asset Status Report and summary of
the Final Asset Status Report thereof to its respective website pursuant to Section 8.14(b), shall implement such report.

 

Subject to the last paragraph
of Section 9.3(a), during any Subordinate Control Period, if within 10 Business Days of receiving an Asset Status Report,
the Directing Holder does not disapprove such Asset Status Report in writing, the Special Servicer shall implement the recommended
action as outlined in such Asset Status Report. If, during any Subordinate Control Period, the Directing Holder disapproves such
Asset Status Report within 10 Business Days of receipt and the Special Servicer has not made the determination described below,
the Special Servicer shall revise such Asset Status Report and deliver a new Asset Status Report as soon as practicable, but in
no event later than 30 days after such disapproval, to the Directing Holder, the Servicer, the Trustee, the Certificate Administrator
and the 17g-5 Information Provider (which shall promptly post such revised Asset Status Report on the 17g-5 Information Provider’s
Website in accordance with Section 8.14(b)). During any Subordinate Control Period, the Special Servicer shall revise such Asset
Status Report as described above in this Section 3.10(h) until the Directing Holder shall fail to disapprove such revised Asset
Status Report in writing within 10 Business Days of receiving such revised Asset Status Report, until the Directing Holder’s
approval is no longer required or until the Special Servicer makes the determination described below. Notwithstanding the foregoing,
the Special Servicer (A) may, following the occurrence of an extraordinary event with respect to the Property or the Whole Loan
or, if a failure to take any such action at such time would be inconsistent with Accepted Servicing Practices, take any action
set forth in such Asset Status Report before the expiration of a 10 Business Day period and (B) shall implement the action recommended
in the Asset Status Report if it makes a determination in accordance with Accepted Servicing Practices that such affirmative disapproval
is not in the best interest of all the Certificateholders and the Companion Loan Holders; provided, however, that
such Asset Status Report is not intended to replace or satisfy any other specific consent or approval right which the Directing
Holder may have pursuant to Section 9.3.

 

The Special Servicer
shall deliver to the Servicer, the Directing Holder (during any Subordinate Consultation Period) and the 17g-5 Information Provider
(which shall promptly post the same to the 17g-5 Information Provider’s Website) and the Companion Loan Holders a

 

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copy of
each Final Asset Status Report, in each case with reasonable promptness following the adoption thereof. The Special Servicer shall
provide a summary of such report to the Certificate Administrator, and the Certificate Administrator shall post such summary to
its Internet website.

 

After the termination
of any Subordinate Control Period, the Directing Holder shall have no right to consent to any Asset Status Report under this Section
3.10(h) or otherwise direct the Servicer or Special Servicer. After the termination of any Subordinate Consultation Period,
the Directing Holder (other than in its capacity as a Certificateholder) shall have no right to receive any Asset Status Report
or otherwise consult with the Special Servicer with respect to any matter set forth therein.

 

Notwithstanding anything
herein to the contrary: (i) the Servicer and the Special Servicer shall have no right or obligation to consult with or to seek
and/or obtain consent, approval or direction from any Directing Holder prior to or after acting or making any determination (and
provisions of this Agreement requiring such consultation, consent or approval shall be of no effect) during the period following
any resignation or removal of a Directing Holder and before a replacement is selected and/or identified; and (ii) no advice, direction
or objection from or by the Directing Holder, as contemplated by Section 9.3 or pursuant to any other provision of this Agreement,
as contemplated by this Agreement, may (and the applicable Servicer or Special Servicer may ignore and act without regard to any
such advice, direction or objection that such Servicer or Special Servicer, as applicable, has determined, in its reasonable, good
faith judgment, would): (A) require or cause such Servicer or Special Servicer, as applicable, to violate applicable law, the terms
of the Loan Documents or this Agreement, including, as applicable, the Servicer’s or Special Servicer’s obligation
to act in accordance with the Accepted Servicing Practices, (B) result in an Adverse REMIC Event or cause the Grantor Trust to
fail to qualify as a “grantor trust” under the Code, (C) expose the Trust, the Depositor, the Servicer, the Special
Servicer, the Certificate Administrator, the Trustee or any of their respective Affiliates, members, managers, officers, directors,
employees or agents, to any claim, suit or liability or (D) materially expand the scope of the Servicer’s, the Special Servicer’s,
the Trustee’s or the Certificate Administrator’s responsibilities under this Agreement.

 

(i)             
During the continuance of a Special Servicing Loan Event, the Special Servicer shall have the authority to meet with the
Borrower and, subject to the rights of the Directing Holder (during any Subordinate Control Period or Subordinate Consultation
Period) take any actions consistent with Section 3.24, Accepted Servicing Practices and the most recent Asset Status
Report.

 

(j)             
In addition, during the continuance of a Special Servicing Loan Event, on the Determination Date the Special Servicer shall
prepare and deliver to the Servicer the CREFC® Special Servicer Loan File with respect to the Whole Loan.

 

3.11.        
Maintenance of Insurance and Errors and Omissions and Fidelity Coverage. (a)  The Servicer, consistent
with Accepted Servicing Practices and the Loan Documents, shall cause to be maintained by the Borrower (or if the Borrower fails
to maintain such insurance in accordance with the Loan Agreement, the Servicer shall cause to be maintained to the extent such
insurance is available at commercially reasonable rates, and to the extent the Trustee on behalf of the Trust Fund and the Companion
Loan Holders, as mortgagee,

 

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has an insurable interest) insurance with respect to the Property of the types and in the amounts required
to be maintained by the Borrower under the Loan Documents. The cost of any such insurance maintained by the Servicer shall be advanced
by the Servicer, as a Property Protection Advance unless it would be a Nonrecoverable Advance. Neither the Servicer nor the Special
Servicer shall be required to maintain, and shall not cause the Borrower to be in default with respect to the failure of the Borrower
to obtain, all-risk casualty insurance which does not contain any carve-out for terrorist or similar acts, if and only if the Special
Servicer and, during any Subordinate Control Period, the Directing Holder, have determined, on an annual basis, that such insurance
is not required pursuant to the terms of the Loan Documents as in effect on the date thereof. Neither the Servicer nor the Special
Servicer shall be required to obtain terrorism insurance pursuant to this Agreement to the extent the Borrower would not be obligated
to maintain terrorism insurance under the Loan Documents as in effect on the date thereof.

 

(b)           
The Special Servicer, consistent with Accepted Servicing Practices and the Loan Documents, shall cause to be maintained
such insurance with respect to any Foreclosed Property as the Borrower is required to maintain with respect to the Property referred
to in subsection (a) of this Section 3.11 or, at the Special Servicer’s election, coverage satisfying insurance
requirements consistent with Accepted Servicing Practices. The cost of any such insurance with respect to any Foreclosed Property
shall be payable out of amounts on deposit in the Foreclosed Property Account or shall be advanced by the Servicer as a Property
Protection Advance unless such advance would be a Nonrecoverable Advance. Any such insurance (other than terrorism insurance, which
shall be maintained to the extent required under subsection (a)) that is required to be maintained with respect to a Foreclosed
Property shall only be so required to the extent such insurance is available at commercially reasonable rates. If the Special Servicer
requests the Servicer to make a Property Protection Advance in respect of the premiums due in respect of such insurance, the Servicer
shall, as soon as practicable after receipt of such request, make such Property Protection Advance unless such Advance would be
a Nonrecoverable Advance, and if the Servicer does not make such Advance, the Trustee (within five Business Days of its receipt
of notice of the Servicer’s failure to make such Advance) shall make an Advance of the premiums to maintain such insurance,
provided that, in each such case, such obligations shall be subject to the provisions of this Agreement concerning Nonrecoverable
Advances, the Trustee as mortgagee having an insurable interest and the availability of such insurance at commercially reasonable
rates.

 

(c)            
The Servicer or the Special Servicer, as applicable, may satisfy its obligations to cause insurance policies to be maintained
by maintaining a master force placed or blanket insurance policy insuring against losses on the Property or the Foreclosed Property,
as the case may be for which coverage is otherwise required to be maintained as set forth in the preceding subsections of this
Section 3.11. The incremental cost of such insurance allocable to the Property or Foreclosed Property, if not borne
by the Borrower, shall be paid by the Servicer as a Property Protection Advance unless it would be a Nonrecoverable Advance. If
such master force placed or blanket insurance policy contains a deductible clause, the Servicer or Special Servicer, as applicable,
shall deposit in the Collection Account out of its own funds all sums that would have been deposited in the Collection Account
but for such clause to the extent any such deductible exceeds the deductible limitation that pertains to the Whole Loan, or in
the absence of any such deductible limitation, the deductible limitation that is consistent with Accepted Servicing Practices.

 

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(d)           
Each of the Servicer and the Special Servicer shall obtain and maintain at its own expense, and keep in full force and effect
throughout the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy (rated by an insurance
company that has claims paying ability ratings at least equal to “A3” by Moody’s and its equivalent by Morningstar
(if then rated by Morningstar) (or such other rating as to which a Rating Agency Confirmation has been obtained), covering its
directors, officers, employees, as applicable, in connection with its activities under this Agreement. Each such insurance policy
shall protect the Servicer or the Special Servicer, as applicable, against losses resulting directly from forgery, theft, embezzlement,
fraud, errors and omissions of such covered persons. Coverage of the Servicer or the Special Servicer under a policy or bond obtained
by an Affiliate thereof and providing the coverage required by this Section 3.11(d) shall satisfy the requirements of this
Section 3.11(d). The amount of coverage shall be at least equal to the coverage that is required by applicable governmental
authorities having regulatory power over the Servicer and the Special Servicer. If no such coverage amounts are imposed by such
regulatory authorities, the amount of coverage shall be at least equal to the coverage that would be required by FNMA or FHLMC
with respect to the Servicer and the Special Servicer if each were servicing and administering the Whole Loan for FNMA or FHLMC
or as otherwise approved by FNMA or FHLMC. In the event that any such bond or policy ceases to be in effect, the Servicer or the
Special Servicer, as applicable, shall obtain a comparable replacement bond or policy. Each shall use efforts consistent with Accepted
Servicing Practices to cause each and every sub-servicer, if any, to maintain a blanket fidelity bond and an errors and omissions
insurance policy meeting the requirements as described above. In lieu of the foregoing, but subject to this Section 3.11,
the Servicer and the Special Servicer shall be entitled to self-insure with respect to such risks so long as it (or its immediate
or ultimate parent) is rated at least at least “A3” by Moody’s or at least its equivalent rating by Morningstar
(if then rated by Morningstar).

 

(e)           
No provision of this Section 3.11 requiring such fidelity bond and errors and omissions insurance shall diminish
or relieve the Servicer or the Special Servicer from its duties and obligations as set forth in this Agreement. The Certificate
Administrator shall be entitled to request, upon receipt of a written request from any Certificateholder, and the Servicer and
the Special Servicer shall each deliver or cause to be delivered to the Certificate Administrator, a certificate of insurance from
the surety and insurer certifying that such insurance is in full force and effect. The Certificate Administrator will make any
such certificate of insurance available to the requesting Certificateholder.

 

3.12.          
Procedures with Respect to Defaulted Loan; Realization upon the Property. (a)  Upon a Loan Event of Default,
the Special Servicer on behalf of the Trust and the Companion Loan Holders (subject to the rights of the Risk Retention Consultation
Party and Directing Holder during any Subordinate Control Period (and upon non-binding consultation with the Directing Holder and
Risk Retention Consultation Party (unless it is a Borrower Related Party) during any Subordinate Consultation Period)), subject
to the terms of the Loan Documents and the Co-Lender Agreement and consistent with Accepted Servicing Practices, shall promptly
pursue the remedies set forth therein or otherwise available in accordance with Accepted Servicing Practices, including foreclosure
or otherwise realization on the Property and the other collateral for the Whole Loan. In connection with any foreclosure, enforcement
of the Loan Documents or other realization on the Collateral, the Special Servicer shall direct the Servicer to, and the Servicer
shall, pay the costs and expenses in any such proceedings as a Property

 

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Protection Advance unless the Servicer determines, in accordance
with Accepted Servicing Practices, that such Advance would constitute a Nonrecoverable Advance, in which case it will be an expense
of the Trust.

 

(b)           
Such proposed acceleration of the Whole Loan and/or foreclosure on the Property shall be taken unless the Special Servicer
waives such Loan Event of Default (or modifies or amends the Whole Loan to cure the Loan Event of Default), which the Special Servicer
may do if such modification, waiver or amendment is consistent with Accepted Servicing Practices and does not cause either the
Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC under the REMIC Provisions or constitute a “significant
modification” of the Whole Loan under Treasury Regulations Section 1.860G-2(b).

 

(c)             In connection with such foreclosure as described in Section 3.12(a) or other realization on the Property, the
Special Servicer shall follow Accepted Servicing Practices; provided, however, that the Special Servicer shall not
be permitted to direct the Servicer, and neither the Special Servicer nor the Servicer shall be required, to expend its own funds
to restore damage done to the Property by an Uninsured Cause unless the Servicer or the Special Servicer, as applicable, permitted
the related insurance policy to lapse in violation of its respective obligations hereunder. If the Servicer does expend its own
funds to restore the Property damaged by an Uninsured Cause (which insurance policy did not lapse in violation of the Servicer’s
obligations), such expense shall be a Property Protection Advance. In connection with any foreclosure, enforcement of the Loan
Documents or other realization on the Collateral, the Special Servicer shall direct the Servicer to, and the Servicer shall, pay
the costs and expenses in any such proceedings as a Property Protection Advance unless the Servicer determines, in accordance with
Accepted Servicing Practices, that such Advance would constitute a Nonrecoverable Advance.

 

(d)           
Notwithstanding the foregoing, the Special Servicer may not foreclose on the Property on behalf of the Trust Fund and the
Companion Loan Holders and thereby be the beneficial owner of the Property, or take any other action with respect to such item
that would cause the Trustee, on behalf of the Certificateholders or Companion Loan Holders, to be considered to hold title to,
to be a “mortgagee-in-possession” of, or to be an “owner” or “operator” of the Property within
the meaning of CERCLA or any comparable law, unless the Special Servicer has previously determined, based on a report prepared
at the expense of the Trust Fund by an independent person who regularly conducts site assessments for purchasers of comparable
properties (a copy of such report to be provided to the Trustee and the Companion Loan Holders by the Special Servicer), that (i) the
Property is in compliance with applicable environmental laws or that taking the remedial actions necessary to comply with such
laws is reasonably likely to produce a greater recovery on a present value basis than not taking such actions and (ii) there
are no circumstances known to the Special Servicer relating to the use of hazardous substances or petroleum-based materials which
require investigation or remediation, or that if such circumstances exist taking such remedial actions is reasonably likely to
produce a greater recovery on a net present value basis than not taking such actions. The Special Servicer shall deliver a copy
of any such report to the 17g-5 Information Provider in electronic format (and the 17g-5 Information Provider shall make such report
available on its website to the Rating Agency and NRSROs pursuant to Section 8.14(b)).

 

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If the Special Servicer
has so determined based on satisfaction of the criteria in this Section 3.12(d) that it would be in the best economic
interest of the Trust Fund and the Companion Loan Holders (as a collective whole as if the Trust Fund and the Companion Loan Holders
constituted a single lender) (as determined in accordance with Accepted Servicing Practices) to institute a foreclosure or take
any other actions described in the immediately preceding paragraph, subject to the rights of the Directing Holder to consent to
and/or consult and the right of the Risk Retention Consultation Party to consult in respect of such action, as applicable, pursuant
to the terms hereof, the Special Servicer shall take such proposed action. The Special Servicer shall not foreclose upon or otherwise
cause the Trust to acquire ownership of any Collateral other than the Property unless it receives an Opinion of Counsel (the cost
of which shall be paid by the Servicer as a Property Protection Advance unless the Servicer determines that such Property Protection
Advance would constitute a Nonrecoverable Advance, in which case it shall be an expense of the Trust) to the effect that such acquisition
will not cause the imposition of a tax on the Upper-Tier REMIC or the Lower-Tier REMIC (other than a tax on “net income from
foreclosure property” under Code Section 860G(c)) under the REMIC Provisions or cause the Lower-Tier REMIC or Upper-Tier
REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding.

 

The Special Servicer
shall direct the Servicer to, and the Servicer shall, advance the cost of any such compliance, containment, clean up or remediation
as a Property Protection Advance unless the Servicer determines, in accordance with Accepted Servicing Practices, that such Advance
would constitute a Nonrecoverable Advance.

 

(e)           
The environmental site assessments contemplated by Section 3.12(d) shall be prepared by any Independent Person
who regularly conducts environmental site assessments for purchasers of comparable properties, as determined by the Servicer in
a manner consistent with Accepted Servicing Practices. The cost of each such environmental site assessment shall qualify as a Property
Protection Advance and shall be advanced by the Servicer unless the Servicer determines that such Advance would constitute a Nonrecoverable
Advance.

 

(f)            
Notwithstanding any provision herein to the contrary, the Special Servicer shall not hold for the benefit of the Certificateholders
and the Companion Loan Holders any personal property pursuant to this Section 3.12 unless:

 

(i)             
such personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired
by the Special Servicer; or

 

(ii)           
the Special Servicer shall have obtained an Opinion of Counsel (the cost of which shall be paid by the Servicer as a Property
Protection Advance unless the Servicer determines that such Property Protection Advance would constitute a Nonrecoverable Advance
in which case the cost of such Opinion of Counsel shall be treated as a reimbursable expense of the Servicer related to foreclosure)
to the effect that the holding of such personal property by the Trust Fund will not cause the imposition of a tax on the Upper-Tier
REMIC or the Lower-Tier REMIC under the REMIC Provisions or cause the Upper-Tier REMIC or the Lower-Tier REMIC to fail to qualify
as a REMIC at any time that any Uncertificated Lower-Tier Interest or Certificate is outstanding.

 

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(g)           
Notwithstanding any acquisition of title to the Property following a Loan Event of Default and cancellation of the Whole
Loan, the Whole Loan shall be deemed to remain outstanding and held by the Trust Fund (in the case of the Trust Loan) and by the
Companion Loan Holders (in the case of the Companion Loans) for purposes of the application of collections and shall be reduced
only by collections net of expenses. For purposes of all calculations hereunder, so long as the Whole Loan shall be deemed to remain
outstanding in accordance with the preceding sentence, (i) it shall be assumed that the unpaid principal balance of the Trust
Loan and Companion Loans immediately after any discharge is equal to the unpaid principal balance of the Trust Loan and Companion
Loans, as applicable, immediately prior to such discharge and (ii) Foreclosure Proceeds shall be applied as provided in Section 1.3(a).

 

3.13.         
Custodian to Cooperate; Release of Items in the Mortgage File. From time to time and as appropriate for the servicing
of the Whole Loan or foreclosure of or realization on the Property, the Custodian shall, upon request of the Servicer or the Special
Servicer and delivery to the Custodian of a request for release in the form of Exhibit B hereto, release or cause to
be released any items from the Mortgage File to the Servicer or the Special Servicer, as the case may be, within the lesser of
(i) seven calendar days and (ii) five Business Days of its receipt of the related request for release and shall execute such documents
furnished to it as shall be necessary to the prosecution of any such proceedings. Such request for release shall obligate the Servicer
or the Special Servicer to return such items to the Custodian when the need therefor by the Servicer or the Special Servicer no
longer exists.

 

3.14.         
Title and Management of Foreclosed Property. (a)  In the event that title to the Property is acquired for
the benefit of the Certificateholders and the Companion Loan Holders in foreclosure or by deed in lieu of foreclosure or otherwise,
the deed, certificate of sale or other comparable document shall be taken in the name of the Trustee, as trustee for the Holders
of the Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA
or its nominee (which shall not include the Special Servicer), on behalf of the Trust Fund and the Companion Loan Holders or as
otherwise contemplated pursuant to Section 8.10. Title may be taken in the name of a limited liability company wholly
owned by the Trust and which is managed by the Special Servicer (the costs of which shall be advanced by the Servicer; provided
that such Advance would not be a Nonrecoverable Advance). Promptly after such acquisition of title, the Special Servicer shall
consult with counsel to determine when an Acquisition Date shall be deemed to occur under the REMIC Provisions with respect to
the Property, the expense of such consultation being treated as a Property Protection Advance, unless the Servicer determines that
such Property Protection Advance would constitute a Nonrecoverable Advance in which case it shall be treated as a reimbursable
expense of the Servicer related to the foreclosure. The Special Servicer, on behalf of the Trust Fund and the Companion Loan Holders,
shall dispose of any Foreclosed Property held by the Trust Fund as expeditiously as appropriate in accordance with Accepted Servicing
Practices, but in any event within the time period, and subject to the conditions, set forth in Sections 3.15 and 12.2.
Subject to Sections 12.2 and 3.14(d), the Special Servicer may hire on behalf of the Trust Fund and the Companion
Loan Holders a Successor Manager to manage, conserve, protect and operate such Foreclosed Property for the Certificateholders and
Companion Loan Holders solely for the purpose of its prompt disposition and sale. In connection with such management and subject
to Section 3.4(c)(viii), the Successor Manager

 

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shall be entitled to the REO Management Fee solely from the Foreclosed
Property Account or the Collection Account pursuant to Section 3.4(c)(viii).

 

(b)           
The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of any Foreclosed
Property separate and apart from its own funds and general assets and shall establish and maintain with respect to a Foreclosed
Property a Foreclosed Property Account in the name of the Special Servicer on behalf of the Trustee and the Companion Loan Holders
pursuant to Section 3.6.

 

(c)           
The Special Servicer shall have full power and authority, subject to Accepted Servicing Practices and the specific requirements
and prohibitions of this Agreement, to do any and all things in connection with a Foreclosed Property for the benefit of the Trust
Fund and the Companion Loan Holders (as a collective whole as if the Trust Fund and the Companion Loan Holders constituted a single
lender) on such terms as are appropriate and necessary for the efficient liquidation of such Foreclosed Property, so long as the
Special Servicer deems such actions to be consistent with Accepted Servicing Practices. Without limiting the generality of the
foregoing, the Special Servicer may retain an independent contractor to operate and manage the Foreclosed Property; provided,
however, the retention of an independent contractor will not relieve the Special Servicer of its obligations hereunder with
respect to the Foreclosed Property.

 

The Special Servicer
shall deposit or cause to be deposited on a daily basis in the Foreclosed Property Account all revenues received with respect to
the Foreclosed Property, and the Special Servicer shall cause to be withdrawn therefrom funds necessary for the proper operation,
management and maintenance of such Foreclosed Property and for other expenses related to the preservation and protection of such
Foreclosed Property, including, but not limited to:

 

(i)             
all insurance premiums due and payable in respect of such Foreclosed Property;

 

(ii)            
all taxes, assessments, charges or other similar items in respect of such Foreclosed Property that could result or have
resulted in the imposition of a lien thereon; and

 

(iii)            
all costs and expenses necessary to preserve such Foreclosed Property, including the payment of ground rent, if any.

 

To the extent that amounts
on deposit in the Foreclosed Property Account are insufficient for the purposes set forth in clauses (i) through (iii) above
(and all similar amounts or expenses), the Special Servicer shall direct the Servicer to, and the Servicer shall, make a Property
Protection Advance unless the Servicer determines, in accordance with Accepted Servicing Practices, that such Advance would constitute
a Nonrecoverable Advance.

 

(d)           
The Special Servicer, in the name of the Trust Fund and the Companion Loan Holders, may (subject to Section 3.14(a))
contract with any Successor Manager for the operation and management of any Foreclosed Property; provided that no such contract
shall impose individual liability on the Trustee or the Trust; provided, further, that:

 

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(i)             
the terms and conditions of any such contract shall not be inconsistent herewith;

 

(ii)            any such contract shall require, or shall be administered to require, that the Successor Manager (A) request that the Special
Servicer pay from the Foreclosed Property Account all costs and expenses incurred in connection with the operation and management
of any Foreclosed Property, and (B) remit all related revenues (net of such costs and expenses) to the Special Servicer, for deposit
into the Foreclosed Property Account, as soon as practicable but in no event later than the Business Day immediately following
receipt; and

 

(iii)          
none of the provisions of this Section 3.14 relating to any such contract or to actions taken through any such Successor
Manager shall be deemed to relieve the Special Servicer of any of its ordinary and regularly recurring duties and obligations to
the Trust Fund on behalf of the Certificateholders and the Companion Loan Holders with respect to the operation and management
of any Foreclosed Property.

 

The Special Servicer
shall be entitled, and to the extent required by the REMIC Provisions, shall be required, to enter into an agreement with any Independent
Contractor performing services for it related to its duties and obligations hereunder for indemnification of the Special Servicer
by such Independent Contractor, and nothing in this Agreement shall be deemed to limit or modify such indemnification. All Foreclosed
Property Management Fees shall be an expense of the Trust Fund and allocated in accordance with the allocation provisions of the
Co-Lender Agreement payable from the Foreclosed Property Account or subject to reimbursement pursuant to Section 3.4(c)(viii).
The Special Servicer agrees to monitor the performance of the Successor Manager and to enforce the obligations of the Successor
Manager on behalf of the Trust Fund and the Companion Loan Holders. Expenses incurred by the Special Servicer in connection herewith
shall qualify as Property Protection Advances.

 

(e)           
On or before the Determination Date, the Special Servicer shall withdraw from the Foreclosed Property Account and deposit
into the Collection Account the proceeds and collections received or collected since the preceding Remittance Date through the
Business Day prior to the Remittance Date on or with respect to any Foreclosed Property (including any funds no longer needed in
any reserves established as provided below), net of expenses paid therefrom and amounts reasonably expected to be needed to fund
any reserves deemed necessary for the operation, preservation and protection of such Foreclosed Property, including without limitation,
the creation of reasonable reserves for working capital, repairs, replacements and necessary capital improvements and other related
expenses.

 

3.15.         
Sale of Foreclosed Property. (a)  In the event that title to the Property is acquired by the Special Servicer
for the benefit of the Certificateholders and the Companion Loan Holders in foreclosure or by deed in lieu of foreclosure or otherwise,
the deed, certificate of sale or other comparable document shall be taken in the name of the Trustee, or its nominee (which shall
not include the Special Servicer), on behalf of the Trust Fund and the Companion Loan Holders or as otherwise contemplated pursuant
to Section 8.10. The Special Servicer, on behalf of the Trust Fund and the Companion Loan Holders, shall sell any Foreclosed
Property as expeditiously as appropriate in accordance with Accepted Servicing Practices and the REMIC

 

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Provisions in a manner designed
to preserve the capital of the Certificateholders and not with a view to the maximization of profit, but in no event later than
the Rated Final Distribution Date in a manner provided under this Section 3.15.

 

(b)           
If the Special Servicer acquires any Foreclosed Property in the name of and on behalf of the Trust Fund and the Companion
Loan Holders, the Special Servicer shall be empowered, subject to the Code and to the specific requirements and prohibitions of
this Agreement, to do any and all things in connection with the management and operation thereof in accordance with Accepted Servicing
Practices, all on terms and for such period as the Special Servicer deems to be in the best interest of the Certificateholders
and the Companion Loan Holders, as a collective whole (as if such Certificateholders and the Companion Loan Holders constituted
one lender) and consistent with the REMIC Provisions.

 

(c)           
Subject to the consent and non-binding consultation rights of the Directing Holder and the non-binding consultation rights
of the Risk Retention Consultation Party to the extent set forth in this Agreement, the Special Servicer shall accept the highest
cash bid for any Foreclosed Property received from any person. However, in no event may such bid be less than an amount at least
equal to the Repurchase Price related to such Foreclosed Property through the date of sale and all reasonably estimated liquidation
expenses. In the absence of any such bid, the Special Servicer shall accept the highest cash bid which it determines is a fair
price based on Appraisals obtained within the last 9 months. If the highest bidder is the Borrower, an affiliate of the Borrower,
the Servicer, the Special Servicer, any Certificateholder (or any of their respective Affiliates), the Trustee shall determine
the fairness of the highest bid based upon an independent Appraisal; provided that if the Trustee is required to determine
whether a cash offer by an Interested Person constitutes a fair price, the Trustee may designate an independent third party expert
in real estate or commercial mortgage loan matters with at least five years’ experience in valuation of or investment in
loans similar to the Whole Loan, which such expert shall be selected with reasonable care by the Trustee for the sole purpose of
determining whether any such cash offer constitutes a fair price for the Whole Loan; provided, further, that if the
Trustee so designates any such third party to make such determination, the Trustee shall be entitled to rely conclusively upon
such third party’s determination and the reasonable costs of all Appraisals, inspection reports and broker opinions of value
incurred by the Trustee in making such determination shall be reimbursable to it first, by the Servicer as an Advance, subject
to the Servicer’s determination that such amounts are not Nonrecoverable Advances, and then as an expense of the Trust Fund.
Notwithstanding the foregoing, but, during any Subordinate Control Period, subject to the consent rights of the Directing Holder
and the non-binding consultation rights of the Risk Retention Consultation Party set forth in Section 9.3 herein, the Special
Servicer shall not be obligated to accept the higher cash offer if the Special Servicer determines, in accordance with Accepted
Servicing Practices, that rejection of such offer would be in the best interests of the Certificateholders and the Companion Loan
Holders (as a collective whole, as if such Certificateholders and the Companion Loan Holders constituted a single lender), and
the Special Servicer may accept a lower cash offer (from any person other than itself or an affiliate) if it determines, in accordance
with Accepted Servicing Practices, that acceptance of such offer would be in the best interests of the Certificateholders and the
Companion Loan Holders (as a collective whole, as if such Certificateholders and the Companion Loan Holders constituted a single
lender). For avoidance of doubt, the Directing Holder and the Risk Retention Consultation Party may submit bids on any Foreclosed
Property in the same manner and at the same time and

 

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place as any other bidder. Neither the Trustee, in its individual capacity,
nor any of its Affiliates may make an offer for or purchase any Foreclosed Property.

 

(d)           
Subject to the provisions of Sections 3.14 and 12.2, the Special Servicer shall act on behalf of the
Trust Fund and the Companion Loan Holders in negotiating and taking any other action necessary or appropriate in connection with
the sale of any Foreclosed Property, including the collection of all amounts payable in connection therewith. Any sale of any Foreclosed
Property shall be without recourse to the Trustee, the Depositor, the Certificate Administrator, the Servicer, the Special Servicer,
the Trust Fund, the Companion Loan Holders or the Certificateholders (except that any contract of sale and assignment and conveyance
documents may contain customary warranties, so long as the only recourse for breach thereof is to the Trust Fund) and if consummated
in accordance with the terms of this Agreement, none of the Trustee, the Depositor, the Certificate Administrator, the Companion
Loan Holders, the Servicer or the Special Servicer shall have any liability to any Certificateholder with respect to the purchase
price thereof accepted by the Special Servicer or the Trustee.

 

(e)           
The proceeds of any sale effected pursuant to this Section 3.15, after deduction of the expenses incurred in
connection therewith, shall be deposited in the Collection Account in accordance with Section 3.4(a).

 

(f)            
Within 30 days of the sale of any Foreclosed Property, if not previously included in a CREFC® Report provided
by the Servicer or the Special Servicer, the Special Servicer shall provide to the Servicer, the Trustee, the Certificate Administrator
and the Companion Loan Holders a statement of accounting for such Foreclosed Property, including, without limitation, (i) the
date such Foreclosed Property was acquired in foreclosure or by deed in lieu of foreclosure or otherwise, (ii) the date of
disposition of such Foreclosed Property, (iii) the gross sale price and related selling and other expenses, (iv) accrued
interest with respect to the Loan Principal Balance of such Foreclosed Property, calculated from the date of acquisition to the
disposition date, and (v) such other information as the Trustee, the Certificate Administrator or the Companion Loan Holders
may reasonably request.

 

(g)           
The Special Servicer shall prepare and file on a timely basis the reports of foreclosures and abandonments of the Property
required by Section 6050J of the Code and the reports of discharges of indebtedness income in respect of the Whole Loan required
by Section 6050P of the Code.

 

3.16.          
Sale of Defaulted Loan.

 

(a)            
(i) Within 60 days after the occurrence of a Special Servicing Loan Event with respect to the Trust Loan, the Special Servicer
shall order (but shall not be required to have received) an Appraisal for the Property. The Special Servicer shall promptly notify
in writing the Servicer, the Trustee, the Certificate Administrator, the Companion Loan Holders, the Risk Retention Consultation
Party and the Directing Holder (during any Subordinate Control Period or Subordinate Consultation Period) of the occurrence of
such Special Servicing Loan Event. Upon delivery by the Special Servicer of the notice described in the preceding sentence, and
subject to the right of the holder of Note B-2 (if a Note B-2 Control Appraisal Period is not continuing), or the right of the
holder of Note B-1 (if a Note B-2 Control Appraisal Period is 

 

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continuing, but a Note B-1 Control Appraisal Period is not continuing),
as applicable, to consent to a Major Decision and the Directing Holder under Section 9.3, the Special Servicer may offer
to sell to any Person the Whole Loan or may offer to purchase the Whole Loan, if and when the Special Servicer determines, consistent
with Accepted Servicing Practices, that no satisfactory arrangements can be made for collection of delinquent payments thereon
and such a sale would be in the best economic interests of the Trust and the Companion Loan Holders (as a collective whole as if
such Certificateholders and Companion Loan Holders constituted a single lender) on a net present value basis. The Special Servicer
shall provide the Trustee, the Certificate Administrator, the Companion Loan Holders, the Risk Retention Consultation Party (unless
it is a Borrower Related Party) and the Directing Holder (during any Subordinate Control Period or Subordinate Consultation Period)
not less than five Business Days’ (and with regard to the Junior Companion Loan Holders, 15 Business Days) prior written
notice of its intention to sell the Whole Loan, in which case the Special Servicer is required to accept the highest cash offer
received from any Person (other than any Interested Person) for the Whole Loan in an amount at least equal to the related Repurchase
Price or, at its option, if it has received no offer at least equal to the related Repurchase Price therefor, purchase the Whole
Loan at the related Repurchase Price. Any Appraisal obtained pursuant to this Section 3.16 will be delivered by the
Special Servicer to the Certificate Administrator in electronic format and the Certificate Administrator shall make such Appraisal
available to Privileged Persons pursuant to Section 8.14(b). The Companion Loans shall be sold together with the Whole
Loan, subject to this Section 3.16 and any additional requirements set forth in the Co-Lender Agreement.

 

(ii)            
In the absence of any offer at least equal to the related Repurchase Price (or purchase by the Special Servicer for such
price), the Special Servicer shall accept the highest cash offer received from any Person that is determined by the Special Servicer
to be a fair price for the Defaulted Loan, if the highest cash offeror is the Depositor, the Servicer, the Special Servicer, a
Holder of 50% or more of the Controlling Class, the Directing Holder, the Risk Retention Consultation Party, the Certificate Administrator,
the Borrower, any property manager, any independent contractor engaged by the Special Servicer, any Companion Loan Holder or any
known affiliate of any of the foregoing (any such person, an “Interested Person”), then the Trustee (based upon,
among other things, the Appraisal ordered pursuant to the preceding paragraph (the cost of which shall be paid by the Servicer
as a Property Protection Advance) and copied or otherwise delivered to the Trustee) shall determine if the highest cash offer is
a fair price and such determination shall be binding upon all parties; provided that if the Trustee is required to determine
whether a cash offer by an Interested Person constitutes a fair price, the Trustee may designate an independent third party expert
in real estate or commercial mortgage loan matters with at least five years’ experience in valuation of or investment in
loans similar to the Defaulted Loan, which such expert shall be selected with reasonable care by the Trustee for the sole purpose
of determining whether any such cash offer constitutes a fair price for the Defaulted Loan; provided, further, that
if the Trustee so designates any such third party to make such determination, the Trustee shall be entitled to rely conclusively
upon such third party’s determination and the reasonable costs of all appraisals, inspection reports and broker opinions
of value incurred by the Trustee in making such determination shall be reimbursable to it first, by the Servicer as an Advance,
subject to the Servicer’s determination that such amounts are not Nonrecoverable Advances, and then as an expense of the
Trust. Neither the Trustee, in

 

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its individual capacity, nor any of its Affiliates may make an offer for or purchase the Defaulted
Loan. For avoidance of doubt, the Directing Holder and the Risk Retention Consultation Party may submit bids on the defaulted Loan
in the same manner and at the same time and place as any other bidder.

 

(iii)          
The Special Servicer shall not be obligated to accept the highest cash offer if the Special Servicer determines, in accordance
with Accepted Servicing Practices, that the rejection of such offer would be in the best interests of the Certificateholders and
the Companion Loan Holders (as a collective whole, giving due regard to the relative subordination of the Trust A-B Note and the
Non-Trust B Notes). In addition, the Special Servicer may accept a lower cash offer if it determines, in accordance with Accepted
Servicing Practices, that the acceptance of such offer would be in the best interests of the Certificateholders and the Companion
Loan Holders (as a collective whole as if such Certificateholders and the Companion Loan Holders constituted as single lender);
provided that the offeror is not the Special Servicer or a Person that is an Affiliate of the Special Servicer. The Special
Servicer shall use efforts consistent with Accepted Servicing Practices to sell the Defaulted Loan prior to the Rated Final Distribution
Date.

 

(iv)          
Unless and until the Defaulted Loan is sold pursuant to this Section 3.16(a), the Special Servicer shall pursue
such other resolution strategies with respect to the Defaulted Loan, including, without limitation, workout and foreclosure, as
the Special Servicer may deem appropriate, consistent with the Asset Status Report, Accepted Servicing Practices and the REMIC
Provisions.

 

(b)           
Any sale of the Defaulted Loan by the Special Servicer shall be subject to the Directing Holder’s consent and non-binding
consultation rights and the Risk Retention Consultation Party’s non-binding consultation rights as described in Section
9.3 herein.

 

(c)           
The right of the Special Servicer to purchase or sell the Defaulted Loan after the occurrence of a Special Servicing Loan
Event shall terminate, and shall not be exercisable as set forth in clause (a) above (or if exercised but the purchase
of the Defaulted Loan has not yet occurred, the Special Servicer’s right shall terminate and such exercise shall be of no
further force or effect) if the Defaulted Loan is no longer delinquent as a result of any of the following: (i) the Special Servicing
Loan Event has ceased pursuant to the terms of this Agreement, (ii) the Defaulted Loan has become subject to a fully executed agreement
reflecting the terms of a workout arrangement or (iii) the Defaulted Loan has otherwise been resolved (including by a full or discounted
pay-off).

 

(d)           
Any sale of the Defaulted Loan pursuant to Section 3.16(a) shall be for cash only.

 

(e)            
The Special Servicer shall have the obligation to sell the Defaulted Loan (including the Companion Loans) pursuant to the
terms of the Co-Lender Agreement as if the Trust Loan and the Companion Loans were one whole loan on behalf of the Certificateholders
and the Companion Loan Holders. The Special Servicer shall provide notice to the Companion Loan Holders or, if applicable, the
applicable Other Special Servicer (if any) as soon as

 

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practicable following its decision to attempt to sell, and prior to the commencement
of marketing of, the Companion Loans.

 

3.17.         
Servicing Compensation. (a)  The Servicer shall be entitled to receive the Servicing Fee with respect to
the Whole Loan and Foreclosed Property payable monthly out of the Collection Account from payments of interest on the Whole Loan
or Foreclosure Proceeds allocable as interest on such Foreclosed Property, as the case may be in accordance with and subject to
Section 3.4(c)(ii). The Servicer shall be entitled to retain as compensation any late payment charges and certain other
customary charges and fees to the extent described below, as well as reimbursement for all other costs or expenses incurred by
it in performing its duties hereunder other than: (i) fees of any sub-servicer and the expenses of any sub-servicer that would
not be reimbursable to Servicer if such expenses were incurred by the Servicer; (ii) the cost of any fidelity bond or errors
and omissions policy required by Section 3.11(d); (iii) overhead expenses of the Servicer including but not limited
to those which may properly be allocable under the Servicer’s accounting system or otherwise to the Servicer’s activities
under this Agreement or the income derived by it hereunder including the costs to the Servicer associated with employees of the
Servicer performing services in connection with the obligations of the Servicer hereunder; and (iv) costs and expenses arising
from the negligence, bad faith or willful misconduct of the Servicer in connection with its servicing obligations hereunder (the
“Servicer Customary Expenses”). So long as no Special Servicing Loan Event has occurred and is continuing, the
Servicer shall also be entitled to retain certain other customary charges and fees including any late payment charges (including
any late payment fees collected after the occurrence of a Special Servicing Loan Event but accrued prior to such Special Servicing
Loan Event) (to the extent not applied pursuant to Section 3.4(c)), assumption fees (except as otherwise provided in
the Co-Lender Agreement)), Default Interest (to the extent not applied pursuant to Section 3.4(c) (except as otherwise provided
in the Co-Lender Agreement)), assumption application fees, substitution fees, defeasance fees, Modification Fees, consent fees
(subject to the fourth paragraph of this Section 3.17), loan service transaction fees, insufficient funds fees and similar
fees and expenses to the extent, with respect to any such amounts, collected and allocated to such amounts as permitted by (or
not otherwise prohibited by) the terms of the Loan Documents and the Co-Lender Agreement and this Agreement (in each case, to the
extent actually received from the Borrower), release fees and any income earned (net of losses to the extent provided in this Agreement)
on the investment of funds deposited in the Collection Account, the Companion Loan Account and any Reserve Accounts (to the extent
not payable to the Borrower) to the extent provided for in this Agreement (“Additional Servicing Compensation”);
provided, however, that the Servicer shall not be entitled to apply or retain any Default Interest or any late payment
charges, with respect to the Whole Loan, with respect to which a default thereunder or Loan Event of Default is continuing unless
and until such default or Loan Event of Default has been cured and all delinquent amounts due with respect to the Whole Loan have
been paid and all interest on Advances has been paid.

 

If a Special Servicing
Loan Event occurs and is continuing with respect to the Whole Loan, the Special Servicer shall be entitled to receive a Special
Servicing Fee with respect to the Whole Loan for so long as such Special Servicing Loan Event continues as well as reimbursement
for all other costs or expenses incurred by it in performing its duties hereunder other than: (i) the cost of any fidelity
bond or errors and omissions policy required by Section 3.11(d); (ii) overhead expenses of the Special Servicer
including but not limited to those

 

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which may properly be allocable under the Special Servicer’s accounting system or otherwise
to the Special Servicer’s activities under this Agreement or the income derived by it hereunder including the costs to the
Special Servicer associated with employees of the Special Servicer performing services in connection with the obligations of the
Special Servicer hereunder; and (iii) costs and expenses arising from the negligence, bad faith or willful misconduct of the
Special Servicer in connection with its servicing obligations hereunder (the “Special Servicer Customary Expenses”).
If a Special Servicing Loan Event is terminated following resolution of such Special Servicing Loan Event by a written agreement
with the Borrower negotiated by the Special Servicer, the Special Servicer shall be entitled to receive the Work-out Fee on all
payments of principal and interest made on the Whole Loan following such written agreement for so long as another Special Servicing
Loan Event does not occur with respect to the Whole Loan. If the Special Servicer is terminated (other than for cause) or resigns
after such written agreement is entered into and before or after the Special Servicing Loan Event is terminated, it shall retain
the right to receive any and all Work-out Fees on all payments of principal and interest (other than at the Default Rate) made
on the Whole Loan following such written agreement (negotiated by such Special Servicer prior to its termination or resignation)
for so long as another Special Servicing Loan Event does not occur with respect to the Whole Loan and the successor Special Servicer
shall have no rights with respect to such Work-out Fee. In addition, the Special Servicer shall be entitled to receive a Liquidation
Fee with respect to each Liquidated Property, the liquidation of the Whole Loan or a Note (whether through sale, discounted payoff
or other liquidation), as to which the Special Servicer receives Net Liquidation Proceeds, except that no Liquidation Fee shall
be payable in connection with (a) a repurchase of the Trust Loan by the Loan Seller pursuant to the Loan Purchase Agreement (so
long as such repurchase occurs within the 90 day time period required by the Loan Purchase Agreement including any applicable extended
cure periods), (b) the sale of the Whole Loan to the Servicer, the Special Servicer, the Directing Holder or any of their affiliates
pursuant to Section 3.16 hereof if such sale occurred within 90 days after the transfer of the Whole Loan to the Special
Servicer or (c) the purchase of the Trust Loan by a Junior Companion Loan Holder within 90 days following the date such holder
received notice of the first purchase option event triggering its right to purchase the Trust Loan (it being acknowledged that
if a later purchase option notice is issued as a result of another purchase option trigger event arising out of substantially the
same facts and circumstances, this clause (d) shall be inoperative). The Liquidation Fee shall be payable from, and shall be calculated
using, the related Net Liquidation Proceeds, subject to a cap of $1,000,000. Each of the foregoing fees shall be payable from funds
on deposit in the Collection Account as provided in Section 3.4(c). With respect to the Whole Loan for which a Special
Servicing Loan Event is continuing, the Special Servicer shall also be entitled to retain as additional servicing compensation
any late payment fees (to the extent not applied pursuant to Section 3.4(c)), (except as otherwise provided in the
Co-Lender Agreement) Default Interest (to the extent not applied pursuant to Section 3.4(c)), (except as otherwise
provided in the Co-Lender Agreement) assumption fees, assumption application fees, substitution fees, Modification Fees, loan service
transaction fees, consent fees (subject to the second paragraph below) and similar fees and expenses to the extent, with respect
to any such amounts, collected (to the extent permitted by (or not otherwise prohibited by) and allocated to such amounts in accordance
with the terms of the Loan Documents or the Co-Lender Agreement or this Agreement, and any income earned (net of losses to the
extent provided in this Agreement) on the investment of funds deposited in the Foreclosed Property Account to the extent provided
in this Agreement

 

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(“Additional Special Servicing Compensation”). Notwithstanding the foregoing, in the event
that the Whole Loan has become a Specially Serviced Loan solely due to the failure to make the Balloon Payment and the Whole Loan
is refinanced on or before the date that is four months after the Maturity Date, the Special Servicer shall be entitled to collect
a Liquidation Fee or Work-out Fee only from the Borrower and shall not otherwise be entitled to deduct a Liquidation Fee from amounts
due to the Certificateholders or the Companion Loan Holders.

 

Notwithstanding anything
herein to the contrary, with respect to the Whole Loan and any Collection Period, the Special Servicer shall only be entitled to
receive a Work-out Fee or a Liquidation Fee with respect to the Whole Loan, but not both.

 

The Special Servicer
shall also be entitled, if the Whole Loan is a Specially Serviced Loan, to 100% of the consent fees or Modification Fees, and if
the Whole Loan is not a Specially Serviced Loan, 50% of the consent fees or Modification Fees that are paid in connection with
a consent or modification that the Servicer is not permitted to take in the absence of the consent or approval (or deemed consent
or approval) of the Special Servicer under this Agreement, in each case, to the extent that such consent fee or Modification Fee
is actually collected on the Whole Loan.

 

The Servicer and the
Special Servicer shall each have the right in its sole discretion, but not any obligation, to reduce or elect not to charge its
respective percentage interest in any fee or payment payable to such party; provided, however without the consent
of the affected party, (x) neither the Servicer nor the Special Servicer shall have the right to reduce or elect not to charge
the percentage interest of any fee due to the other and (y) to the extent either of the Servicer or the Special Servicer exercises
its right to reduce or elect not to charge its respective percentage interest in any fee, the party that reduced or elected not
to charge such fee shall not have any right to share in any portion of the other party’s fee. For the avoidance of doubt,
if the Servicer decides not to charge any fee, the Special Servicer shall still be entitled to charge the portion of the related
fee the Special Servicer would have been entitled to if the Servicer had charged a fee and the Servicer shall not be entitled to
any of such fee charged by the Special Servicer.

 

Notwithstanding any other
provision in this Agreement, neither the Servicer nor the Special Servicer, as applicable, shall be entitled to reimbursement for
an expense incurred under this Agreement or in connection with the performance of its duties hereunder unless (i) the amount
of such payment to the Servicer or the Special Servicer, as the case may be, is reimbursed to the Trust Fund by the Borrower (to
the extent the Borrower is required to do so under the Loan Agreement); (ii) failure of the Borrower to reimburse for such
payment constitutes a Loan Event of Default; (iii) such expense would qualify as an “unanticipated expense incurred
by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii) or is otherwise an unanticipated
expense (it being understood that the Servicer Customary Expenses and the Special Servicer Customary Expenses are not unanticipated);
or (iv) such reimbursement is expressly provided for herein or such expense is expressly described herein as an expense of
the Trust Fund or as an Advance.

 

Except as otherwise expressly
provided herein, no transfer, sale, pledge or other disposition of the Servicer’s right to receive all or any portion of
the Servicing Fee (or the

 

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Special Servicer’s right to receive all or any portion of the Special Servicing Fee) or other servicing
compensation provided for herein shall be made, and any such attempted transfer, sale, pledge or other disposition shall be void,
unless such transfer is made to a successor Servicer or successor Special Servicer, as applicable, in connection with the assumption
by such successor of the duties hereunder pursuant to Section 7.2.

 

KeyBank National Association
and any successor holder of the Excess Servicing Fee Rights shall be entitled, at any time, at its own expense, to transfer, sell,
pledge or otherwise assign such Excess Servicing Fee Rights in whole (but not in part), to any QIB or Institutional Accredited
Investor (other than a Benefit Plan); provided that no such transfer, sale, pledge or other assignment shall be made unless
(i) that transfer, sale, pledge or other assignment is exempt from the registration and/or qualification requirements of the
Securities Act and any applicable state securities laws and is otherwise made in accordance with the Securities Act and such state
securities laws, (ii) the prospective transferor shall have delivered to the Depositor a certificate substantially in the
form attached as Exhibit M-6 hereto, and (iii) the prospective transferee shall have delivered to KeyBank National
Association and the Depositor a certificate substantially in the form attached as Exhibit M-7 hereto. None of the Depositor,
the Trustee or the Certificate Administrator is obligated to register or qualify an Excess Servicing Fee Right under the Securities
Act or any other securities law or to take any action not otherwise required under this Agreement to permit the transfer, sale,
pledge or assignment of an Excess Servicing Fee Right without registration or qualification. KeyBank National Association and each
holder of an Excess Servicing Fee Right desiring to effect a transfer, sale, pledge or other assignment of such Excess Servicing
Fee Right shall, and KeyBank National Association hereby agrees, and each such holder of an Excess Servicing Fee Right by its acceptance
of such Excess Servicing Fee Right shall be deemed to have agreed, in connection with any transfer of such Excess Servicing Fee
Right effected by such Person, to indemnify the Certificateholders, the Trust, the Depositor, the Initial Purchasers, the Trustee,
the Servicer and the Special Servicer against any liability that may result if such transfer is not exempt from registration and/or
qualification under the Securities Act or other applicable federal and state securities laws or is not made in accordance with
such federal and state laws or in accordance with the foregoing provisions of this paragraph. By its acceptance of an Excess Servicing
Fee Right, the holder thereof shall be deemed to have agreed not to use or disclose such information in any manner that could result
in a violation of any provision of the Securities Act or other applicable securities laws or that would require registration of
such Excess Servicing Fee Right or any Certificate pursuant to the Securities Act. Following any transfer, sale, pledge or assignment
of an Excess Servicing Fee Right or the termination of KeyBank National Association as the Servicer, the Person then acting as
the Servicer, shall pay, out of each amount paid to such Servicer as Servicing Fees, the related Excess Servicing Fees to the holder
of such Excess Servicing Fee Right within one Business Day following the payment of such Servicing Fees to such Servicer, in each
case in accordance with payment instructions provided by such holder in writing to such Servicer. The holder of an Excess Servicing
Fee Right shall not have any rights under this Agreement except as set forth in the preceding sentences of this paragraph. None
of the Depositor, the Special Servicer or the Trustee shall have any obligation whatsoever regarding payment of the Excess Servicing
Fee or the assignment or transfer of the Excess Servicing Fee Right.

 

As compensation for its
activities hereunder, on each Distribution Date the Certificate Administrator shall be entitled to the Certificate Administrator
Fee and the Trustee

 

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shall be entitled to the Trustee Fee. Except as otherwise provided herein (i) the Certificate Administrator’s
fee includes all overhead expenses of the Certificate Administrator and the Authenticating Agent and (ii) the Trustee Fee includes
all overhead expenses of the Trustee. Each of the Trustee’s and Certificate Administrator’s rights to the Certificate
Administrator Fee and the Trustee Fee, as applicable, may not be transferred in whole or in part except in connection with the
transfer of all of the Trustee’s or Certificate Administrator’s, as applicable, responsibilities and obligations under
this Agreement.

 

The Special Servicer
and its Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration (including, without
limitation, in the form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing arrangement) from any
Person (including, without limitation, the Trust, the Borrower, the Borrower Sponsor, any property manager or indemnitor in respect
of the Whole Loan and any purchaser of the Whole Loan or Foreclosed Property) in connection with the disposition or workout of
the Whole Loan, the management or disposition of the Foreclosed Property, or the performance of any other special servicing duties
under this Agreement, other than as expressly provided in this Section 3.17 provided, however, that such prohibition
shall not apply to Permitted Special Servicer/Affiliate Fees.

 

3.18.        
Reports to the Certificate Administrator; Account Statements. (a)  The Servicer shall prepare, or cause
to be prepared, and deliver to the Certificate Administrator, the 17g-5 Information Provider and the Companion Loan Holders, in
an electronic format reasonably acceptable to the Certificate Administrator, consistent with Accepted Servicing Practices, not
later than 3:00 p.m. (New York time) on the Remittance Date after the first Distribution Date, all CREFC® Reports
(except the CREFC® Bond Level File, the CREFC® Loan Periodic Update File, the CREFC®
Collateral Summary File, the CREFC® Special Servicer Loan File, the CREFC® Operating Statement Analysis
Report and the CREFC® NOI Adjustment Worksheet).

 

The CREFC®
Loan Periodic Update File shall be delivered to the Certificate Administrator by the Servicer no later than 2:00 p.m. (New York
time) two Business Days preceding each Distribution Date.

 

The CREFC®
Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheet shall be delivered to the Certificate
Administrator by the Servicer in an electronic format mutually agreed to by the Servicer and the Certificate Administrator on a
calendar quarterly basis within 30 days after the Servicer’s receipt of the Borrower’s quarterly financials (commencing
within 30 days of the receipt of the Borrower’s financials for the quarter ending June 30, 2019 and annually within 30 days
after receipt of the Borrower’s annual financials (commencing within 30 days of receipt of the Borrower’s annual financials
for the year ending December 31, 2019.

 

Notwithstanding anything
herein to the contrary, the Servicer shall deliver the CREFC® Operating Statement Analysis Report and the CREFC®
NOI Adjustment Worksheet to the Certificate Administrator on a monthly basis not later than 5:00 p.m. (New York time) on the Business
Day immediately preceding each Distribution Date; provided, however, that the Servicer shall have no obligation to
update such reports except as set forth in the immediately

 

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preceding paragraph and no analysis or update shall be required to the
extent such analysis or update is not required to be provided under the then current applicable CREFC® guidelines.
With respect to the Companion Loans, the Servicer shall (no later than the time(s) that it or any portion thereof is made available
to the Certificate Administrator) make available to the Companion Loan Holders (if such Companion Loan Holder is not the Borrower
or an Affiliate thereof) or, if a Companion Loan is securitized, the respective Other Servicer, the CREFC® Investor
Reporting Package (excluding any templates) pursuant to the terms of this Agreement on a monthly basis. The Special Servicer shall
provide any templates relating to the Companion Loans included in the CREFC® Investor Reporting Package and prepared
by the Special Servicer pursuant to the terms hereof to the Servicer promptly upon reasonable request. The Servicer shall provide
any templates relating to the Companion Loans included in the CREFC® Investor Reporting Package (with respect to
templates required to be prepared by the Special Servicer pursuant to the terms hereof, to the extent received) to the Other Servicer
upon reasonable request.

 

(b)           
The Servicer shall furnish to the Certificate Administrator and the 17g-5 Information Provider, which shall post them to
its website pursuant to Section 8.14(b), in electronic format the CREFC® Reports produced by it pursuant
to this Agreement not later than the time period specified in Section 3.18(a).

 

(c)           
The Servicer shall produce the reports described in this Section 3.18 solely from information provided to the
Servicer by the Borrower pursuant to the Loan Agreement (without modification, interpretation or analysis) or by the Special Servicer,
Loan Seller or Depositor pursuant to this Agreement. None of the Trustee, the Certificate Administrator, any Companion Loan Holder,
the Servicer or the Special Servicer shall be responsible for the completeness or accuracy of such information (except that the
Servicer shall use efforts consistent with Accepted Servicing Practices to correct patent errors).

 

(d)           
With respect to each Collection Period, the Special Servicer shall deliver or cause to be delivered to the Certificate Administrator,
without charge and within two Business Days following the related Determination Date, an electronic report that discloses and contains
an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the
related Collection Period.

 

3.19.          
[Reserved]

 

3.20.          
[Reserved]

 

3.21.          
Access to Certain Documentation Regarding the Trust Loan and Other Information. (a)  Upon reasonable advance
notice, the Certificate Administrator shall provide reasonable access during its normal business hours at its Corporate Trust Office
to certain reports and to information and documentation in its possession regarding the Trust Loan to any Privileged Person (other
than the Rating Agencies). With respect to the Borrower and any Affiliate thereof, such information is limited to the Distribution
Date Statement, and shall require the delivery of an Investor Certification in the form of Exhibit J-2 hereto.

 

(b)           
Upon request of the Depositor or the Rating Agencies, the 17g-5 Information Provider shall post on the 17g-5 Information
Provider’s Website any additional

 

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information requested by the Depositor or the Rating Agencies (including without limitation
pursuant to clause (a) above) to the extent such information is delivered to the 17g-5 Information Provider electronically in accordance
with Section 8.14(b). In no event shall the 17g-5 Information Provider disclose on the 17g-5 Information Provider’s
Website which Rating Agency requested such additional information.

 

(c)           
If any of the parties to this Agreement receives a Form ABS Due Diligence-15E from any party in connection with any third
party due diligence services such party may have provided with respect to the Trust Loan (“Due Diligence Service Provider”),
such receiving party shall promptly forward such Form ABS Due Diligence-15E to the 17g-5 Information Provider for posting on the
17g-5 Information Provider’s Website. The 17g-5 Information Provider shall post on the 17g-5 Information Provider’s
Website any Form ABS Due Diligence-15E it receives directly from a Due Diligence Service Provider or from another party to this
Agreement, promptly upon receipt thereof.

 

3.22.          
Inspections. The Servicer shall inspect or cause to be inspected the Property not less frequently than once each
year commencing in 2020, so long as a Special Servicing Loan Event is not then continuing; provided, however that
the Servicer will not be required to inspect the Property if it has been inspected in the previous 12 months. The Special Servicer
shall inspect or cause to be inspected the Property as soon as practicable following the occurrence of a related Special Servicing
Loan Event and annually for so long as a Specially Serviced Loan Event is continuing. The Servicer or the Special Servicer, as
applicable, shall further inspect, or cause to be inspected, the Property whenever it receives information that the Property has
been materially damaged, left vacant, or abandoned, or if waste is being committed thereto. All such inspections shall be performed
in such manner as shall be consistent with Accepted Servicing Practices. The cost of the annual inspections referred to in the
first sentence of this paragraph shall be an expense of the Servicer; the cost of all additional inspections referred to in this
paragraph shall be a Trust Fund Expense and if paid by the Servicer shall constitute a Property Protection Advance or an Administrative
Advance. The Servicer or Special Servicer, as the case may be, shall prepare a written report of inspection and deliver it to the
Certificate Administrator, the 17g-5 Information Provider and the Companion Loan Holders in electronic format. The Certificate
Administrator shall post such report on the Certificate Administrator’s Website, pursuant to Section 8.14(b).

 

3.23.         
Advances. (a)  In the event that a Monthly Payment (other than any Balloon Payment or any Default Interest,
but including any Assumed Monthly Payment) or any portion of a Monthly Payment (or Assumed Monthly Payment, as applicable) representing
interest and/or principal, if any, on the Trust Loan has not been received by the Business Day immediately prior to the Remittance
Date, the Servicer, subject to its determination that such amounts are not Nonrecoverable Advances, shall make an advance on such
Remittance Date to the Distribution Account, in an amount equal to the Monthly Payment (or Assumed Monthly Payment, as applicable)
or any such portion of such Monthly Payment (or Assumed Monthly Payment, as applicable) on the Trust Loan that was delinquent as
of the close of the Business Day immediately prior to such Remittance Date (net of the Servicing Fee with respect to the Trust
Loan, which shall not be paid to the Servicer until funds in the Collection Account are available for payment of such fee); provided
that neither the Servicer nor any other party shall be entitled to interest accrued on the amount of any Monthly Payment Advance
with respect to the

 

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Trust Loan if the related Monthly Payment (or, if applicable, the Assumed Monthly Payment) in respect of the
Trust Loan is received by the Servicer or the Certificate Administrator, as applicable, by 2:00 p.m., New York time, on such
Remittance Date. (For the avoidance of doubt, neither the Trustee nor the Servicer will have any obligation to make any principal
and/or interest debt service advances with respect to any Companion Loan). The Servicer shall also advance in respect of each Loan
Payment Date following a delinquency in the payment of any Balloon Payment of the Trust Loan or a foreclosure (or acceptance of
a deed in lieu of foreclosure or comparable conversion) of the Whole Loan, not later than the related Remittance Date, to the Distribution
Account, the amount of any Assumed Monthly Payment deemed due with respect to the Trust Loan on such Loan Payment Date. For the
avoidance of doubt, in the event that the amount of interest and principal, if any, due on the Trust Loan is reduced as a result
of any modification to the Trust Loan, any future Monthly Payment Advance made with respect to the modified Trust Loan shall be
in such amounts as may be required as a result of such reduction. Notwithstanding anything to the contrary herein and subject to
the determination of non-recoverability provided in this Section 3.23, in the event that the Property becomes a Foreclosed
Property, the Servicer shall continue to make advances as required pursuant to this Section 3.23(a) with respect to
each Loan Payment Date following such event in an amount equal to the Monthly Payment or the Assumed Monthly Payment, as applicable,
due or deemed due with respect to the Trust Loan on such Loan Payment Date, as if the Property had not become a Foreclosed Property
and the Trust Loan continued to be outstanding. If and to the extent such information is not already included in the Distribution
Date Statement for the month in which such Monthly Payment Advance is made, the Servicer shall notify each Other Servicer, Other
Special Servicer and Other Trustee of the amount of any Monthly Payment Advance made pursuant to this Section 3.23(a) within
two Business Days of making such advance. The Servicer shall maintain a record of each Monthly Payment Advance it has made pursuant
to this Section 3.23(a) on the Trust Loan and shall notify the Certificate Administrator thereof in the appropriate
CREFC® Reports in order to permit allocation thereof pursuant to Sections 3.4 and 3.5. In the
event that the Servicer does not remit any amounts required to be remitted to the Certificate Administrator on each Remittance
Date (including any amounts required to be remitted pursuant to Section 3.5 and any required Monthly Payment Advance)
to the Certificate Administrator for deposit in the Distribution Account on the Remittance Date, the Servicer shall pay to the
Certificate Administrator interest on such amounts at the federal funds rate for the period from and including the Remittance Date
to but excluding the Distribution Date or, if earlier, the actual remittance date.

 

At any time that an Appraisal
Reduction Amount exists with respect to the Trust Loan, the amount that would otherwise be required to be advanced by the Servicer
in respect of delinquent payments of interest on the Trust Loan shall be reduced by multiplying such amount by a fraction, the
numerator of which is the then outstanding principal balance of the Trust Loan minus the Appraisal Reduction Amount allocated to
the Trust Loan and the denominator of which is the then outstanding principal balance of the Trust Loan.

 

Notwithstanding the foregoing,
at no time shall the Servicer or the Trustee be required to make a Monthly Payment Advance as described in this Section 3.23(a)
with respect to the Trust Loan if it has been repurchased from the Trust Fund by the Loan Seller as contemplated in Section
2.8(b).

 

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(b)           
Subject to Section 3.23(e), the Servicer shall advance, to the extent it determines that such amount is not
non-recoverable, all customary and reasonable out-of-pocket costs and expenses incurred by the Servicer or the Special Servicer
in the performance of its servicing obligations, including, but not limited, to the costs and expenses incurred in connection with
(i) the preservation, restoration, operation and protection of the Property which, in the Servicer’s sole discretion,
exercised in accordance with Accepted Servicing Practices, are necessary to prevent an immediate or material loss to the Trust
Fund’s interest in the Property, (ii) the payment of (A) real estate taxes, assessments and governmental charges
that may be levied or assessed against the Borrower or any of its Affiliates or the Property or revenues therefrom or which become
liens on the Property, (B) insurance premiums and (C) the out-of-pocket costs and expenses of the Servicer or the Special
Servicer, as applicable (including, without limitation, reasonable attorneys’ fees and expenses) to the extent not paid by
the Borrower that are incurred in connection with a sale of the Whole Loan, the negotiation of a workout of the Whole Loan, an
assumption of the Whole Loan or a release of the Property from the lien of the Mortgage, (iii) any enforcement or judicial
proceedings, including foreclosures and including, but not limited to, court costs, attorneys’ fees and expenses and costs
for third party experts, including Independent Appraisers, environmental and engineering consultants, and (iv) the management,
operation and liquidation of the Property if the Property is acquired by the Special Servicer or its Affiliate in the name of the
Trustee for the benefit of the Certificateholders and the Companion Loan Holders (collectively, “Property Protection Advances”).
In addition, subject to Section 3.23(e), the Servicer shall advance Borrower Reimbursable Trust Fund Expenses to the
extent not otherwise covered by any Property Protection Advance (collectively, “Administrative Advances”). (For
the avoidance of doubt, neither the Servicer nor the Trustee shall have any obligation to make any Administrative Advance or Monthly
Payment Advances with respect to the Companion Loans). During the continuation of a Special Servicing Loan Event, the Special Servicer
shall give the Servicer and the Trustee not less than five Business Days’ written notice before the date on which the Servicer
is requested to make any Property Protection Advance with respect to the Whole Loan or Foreclosed Property; provided, however,
that only three Business Days’ written notice shall be required in respect of Property Protection Advances required to be
made on an urgent or emergency basis (which may include, without limitation, Property Protection Advances required to make tax
or insurance payments). In addition, the Special Servicer shall provide the Servicer with such information in its possession as
the Servicer may reasonably request to enable the Servicer to determine whether a requested Property Protection Advance would constitute
a Nonrecoverable Advance. Notwithstanding anything herein to the contrary, if the Special Servicer requests that the Servicer make
an Advance, the Servicer may conclusively rely on such request as evidence that such advance is not a Nonrecoverable Advance.

 

With respect to the payment
of insurance premiums and delinquent tax assessments, in the event that the Servicer determines that a Property Advance of such
amounts would constitute a Nonrecoverable Advance, the Servicer shall deliver notice of such determination to the Trustee, the
Certificate Administrator and the Special Servicer. The Servicer (with respect to the Whole Loan while it is not a Specially Serviced
Loan) and the Special Servicer (with respect to the Specially Serviced Loan or Foreclosed Property) shall determine (in the case
of the Special Servicer, with the reasonable assistance of the Servicer, if applicable) whether the payment of such amount (i)
is necessary to preserve the Property and (ii) would be in the best interests of the Certificateholders and the Companion Loan
Holders, as a

 

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collective whole (taking into account the relative subordination of the Trust A-B Note and the Non-Trust B Notes)
as if such Certificateholders and the Companion Loan Holders constituted a single lender. If the Servicer or the Special Servicer,
as applicable, determines that the payment of such amount (i) is necessary to preserve the Property and (ii) would be in the best
interests of the Certificateholders and the Companion Loan Holders, the Special Servicer (in the case of a determination by the
Special Servicer with respect to the Specially Serviced Loan) shall direct the Servicer in writing to make such payment and the
Servicer shall make such payment, to the extent of available funds, from amounts in the Collection Account.

 

(c)           
To the extent the Servicer fails to make an Advance that it is required to make under this Agreement, the Trustee shall
be required to make such Advance pursuant to Section 7.6. It is understood that the obligation of the Servicer and
the Trustee (pursuant to Section 7.6) to make such Advances is mandatory, subject to the limitations set forth in this
Agreement, and shall continue to apply with respect to the Trust Loan or the Whole Loan, as applicable, after any modification
or amendment of the Trust Loan or the Whole Loan, as applicable, pursuant to Section 3.24 hereof, beyond the Maturity
Date of the Trust Loan or the Whole Loan, as applicable, if a payment default shall have occurred on such date and through any
court appointed stay period or similar payment delay resulting from any insolvency of the Borrower or related bankruptcy, notwithstanding
any other provision of this Agreement, other than the requirement of recoverability, and shall continue, subject to the requirement
of recoverability, until the earlier of (i) the payment in full of the Trust Loan or the Whole Loan, as applicable, and (ii) the
date on which the Property becomes liquidated.

 

(d)           
Interest on each Advance made by the Servicer or the Trustee shall accrue for each day that such Advance is outstanding
at a rate of interest equal to the Prime Rate (the “Advance Rate”) for each such day (or the most recent day
on which the Prime Rate was reported, if not reported on such day) (and with respect to Senior Companion Loan Advances, the rate
set forth in the related Senior Companion Loan Pooling and Servicing Agreement) on the basis of a year of 360 days and the actual
number of days elapsed in a month. If the context requires, each reference to the reimbursement or payment of an Advance also includes,
whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through but excluding
the date of payment or reimbursement. Interest on Advances, if unreimbursed, shall compound annually.

 

(e)            
Notwithstanding any other provision in this Agreement, the Servicer or the Trustee shall be obligated to make an Advance
only to the extent that the Servicer or the Trustee, as applicable, has determined that such Advance, together with interest thereon
at the Advance Rate, would not constitute a Nonrecoverable Advance if made. The Trustee and the Servicer, in that order, shall
be entitled to reimbursement for any such Advances from the Collection Account and shall obtain such reimbursement in accordance
with Section 3.4(c). If the context requires, each reference to the reimbursement or payment of an Advance shall be
deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through
but excluding the date of payment or reimbursement.

 

(f)            
The determination by the Servicer or the Trustee that it has made a Nonrecoverable Advance or that any proposed Advance,
if made, would constitute a Nonrecoverable Advance, shall be evidenced by the delivery of an Officer’s Certificate to (i)
the

 

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Certificate Administrator, (ii) the Trustee in electronic format (if such determination is made by the Servicer), (iii) the
Servicer (if such determination is made by the Trustee), (iv) the Special Servicer, (v) the Companion Loan Holders, (vi) the Directing
Holder (during any Subordinate Control Period or Subordinate Consultation Period), (vii) the Senior Companion Loan Holders and
(viii) any Other Servicer, Other Special Servicer and Other Trustee under each related Other Pooling and Servicing Agreement (for
purposes of clause (vii) and clause (viii) only, promptly and in any event within two Business Days after such determination
or such longer time period permitted by the Co-Lender Agreement) detailing the reasons for such determination with supporting documents
attached. Such Officer’s Certificate shall be made available to any Privileged Person by the Certificate Administrator by
posting such officer’s certificate to the Certificate Administrator’s Website in accordance with Section 8.14(b).
The costs of any appraisals, reports or surveys and other information requested by the Servicer or the Trustee establishing an
Advance as a Nonrecoverable Advance shall be treated as Trust Fund Expenses (and such expense shall be allocated in accordance
with the allocation provisions of the Co-Lender Agreement), payable from the Collection Account pursuant to Section 3.4(c),
and shall constitute a Property Protection Advance or Administrative Advance, as applicable, if paid by the Servicer or the Trustee
from its funds. Subject to Section 6.3, the Servicer’s determination of nonrecoverability in accordance with
Accepted Servicing Practices and the above provisions shall be conclusive and binding on the Trustee and the Trustee shall be entitled
to rely conclusively thereupon. The Trustee, in determining whether or not a proposed Advance would be a Nonrecoverable Advance,
shall make such determination in its reasonable business judgment.

 

(g)           
With respect to the Whole Loan, the Servicer and the Trustee are not obligated to advance or pay (i) the principal
portion of any Balloon Payment with respect to the Trust Loan or Companion Loans (but are obligated to advance the related Assumed
Monthly Payment in respect of the Trust Loan only in accordance with the terms of this Agreement), (ii) any Default Interest,
(iii) amounts required to cure any damages resulting from Uninsured Causes (except as required pursuant to Section 3.12(c)),
any failure of the Property to comply with any applicable law, including any environmental law, or (except in connection with the
foreclosure or other acquisition of the Property in accordance with Section 3.12 upon the occurrence of a Loan Event
of Default) to investigate, test, monitor, contain, clean up, or remedy an environmental condition present at the Property, (iv) any
losses arising with respect to defects in the title to the Property, (v) any costs of capital improvements to the Property
other than those necessary to prevent an immediate or material loss to the Trust’s interest in the Property, (vi) any administrative
advances with respect to the Companion Loans or (vii) subordinated obligations, including the Junior Companion Loans.

 

3.24.         
Modifications of Loan Documents. (a)  (i) The Servicer (if no Special Servicing Loan Event has occurred
and is continuing) or the Special Servicer (if a Special Servicing Loan Event has occurred and is continuing) may, subject to the
rights of the Directing Holder, during any Subordinate Control Period or Subordinate Consultation Period, and of the Risk Retention
Consultation Party, modify, waive or amend any term of the Whole Loan if such modification, waiver or amendment (a) is consistent
with Accepted Servicing Practices and (b) does not either (i) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to
fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a “grantor trust” under the Code or (ii) constitute
a “significant modification” of the Whole Loan pursuant to Treasury Regulations

 

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Section 1.860G-2(b) (and the Servicer
or the Special Servicer, as applicable, may obtain and be entitled to rely upon an Opinion of Counsel in connection with such determination).
Notwithstanding anything herein to the contrary, in no event may the Servicer or the Special Servicer permit an extension of the
Maturity Date beyond the date that is seven years prior to the Rated Final Distribution Date. In connection with (i) the release
of the Property or portion thereof from the lien of the Mortgage or (ii) the taking of the Property or portion thereof by exercise
of the power of eminent domain or condemnation, if the Loan Documents require the Servicer or the Special Servicer, as applicable,
to calculate the loan-to-value ratio of the remaining Property, or the fair market value of the real property constituting the
remaining Property, for purposes of REMIC qualification of the Whole Loan, then, unless then permitted by the REMIC Provisions,
such calculation shall exclude the value of personal property and going concern value, if any, to the extent required by the REMIC
Provisions.

 

(b)           
All modifications, waivers or amendments of the Whole Loan shall be in writing and shall be effected in a manner consistent
with Accepted Servicing Practices and the REMIC Provisions. The Servicer or the Special Servicer, as applicable, shall notify the
Servicer (if notice is from the Special Servicer) Trustee, Certificate Administrator, the Companion Loan Holders, the Depositor,
during any Subordinate Control Period or Subordinate Consultation Period, the Directing Holder, and the Risk Retention Consultation
Party (unless the Risk Retention Consultation Party is a Borrower Related Party) in writing, of any modification, waiver or amendment
of any term of the Whole Loan and the date thereof, and shall deliver to the Certificate Administrator (with a copy to the Companion
Loan Holders) an original recorded counterpart of the agreement relating to such modification, waiver or amendment within 10 Business
Days following the execution and recordation thereof with a copy to the Servicer. In the event the Servicer or Special Servicer,
or a court of competent jurisdiction in connection with a workout or proposed workout of the Whole Loan, modifies the interest
rate applicable to the Trust Loan, the aggregate adverse economic effect of the modification (if any) shall be applied to the Certificates,
in reverse order of seniority. If the Whole Loan is modified, the Net Mortgage Rate shall not change for purposes of distributions
on the Certificates.

 

(c)            Subject
to Section 3.27 of this Agreement, any modification of any Loan Documents that requires a Rating Agency Confirmation pursuant
to the Loan Documents, or any modification that would eliminate, modify or alter the requirement of obtaining such Rating Agency
Confirmation in the Loan Documents, shall not be made without the Servicer’s or the Special Servicer’s, as applicable,
first receipt of such Rating Agency Confirmation. Such Rating Agency Confirmation shall be obtained at the Borrower’s expense
in accordance with the Loan Agreement or, if not so provided in the Loan Agreement or if the Borrower does not pay, at the expense
of the Trust Fund.

 

(d)          
Subject to Section 3.27 of this Agreement, prior to implementing any of clauses (vi), (vii), (viii), (ix), (x), (xi)
and (xii) of the definition of Major Decision, the Servicer or the Special Servicer shall obtain a Rating Agency Confirmation with
respect to such Major Decision.

 

(e)           
Notwithstanding the foregoing, the Servicer and (if a Special Servicing Loan Event is continuing) the Special Servicer may,
in accordance with Accepted Servicing Practices (without any Rating Agency Confirmation or consent of the Directing Holder), grant

 

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the Borrower’s request for consent to subject the Property to a non-material easement, right of way or similar agreement
for utilities, access, parking, public improvements or another similar purpose and may consent to subordination of the Whole Loan
to such easement, right of way or similar agreement.

 

(f)            
Notwithstanding the foregoing, the Servicer shall not permit the substitution of the Property pursuant to the defeasance
provisions of the Whole Loan unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and the
Servicer has received (i) replacement collateral consisting of government securities within the meaning of Treasury Regulations
Section 1.860G-2(a)(8)(ii), which satisfies the requirements of the Loan Documents, in an amount sufficient to make all scheduled
payments under the Notes (or defeased portion thereof) when due, (ii) a certificate of an Independent certified public accountant
to the effect that such substituted property will provide cash flows sufficient to meet all payments of interest and principal
(including payments at maturity) on the Notes in compliance with the requirements of the terms of the Loan Documents, (iii) one
or more Opinions of Counsel (at the expense of the Borrower) to the effect that the Trustee, on behalf of the Trust Fund and the
Companion Loan Holders, will have a first priority perfected security interest in such substituted Property; provided, however,
that, to the extent consistent with the Loan Documents, the Borrower shall pay the cost of any such opinion as a condition to granting
such defeasance, (iv) to the extent consistent with the Loan Documents, a single purpose entity shall act as a successor mortgagor,
if so required by the Rating Agencies, (v) to the extent permissible under the Loan Documents, the Servicer shall use efforts consistent
with Accepted Servicing Practices to require the Borrower to pay all costs of such defeasance, including but not limited to the
cost of maintaining any successor mortgagor, and (vi) to the extent permissible under the Loan Documents, the Servicer shall obtain,
at the expense of the Borrower, Rating Agency Confirmation from each Rating Agency and each rating agency relating to the Senior
Companion Loan Securities (subject to Section 3.27).

 

(g)          
If the Servicer receives notice of a defeasance request with respect to the Trust Loan and of the Borrower’s election
to have NREC designate a successor borrower, then the Servicer shall provide upon receipt of such notice, written notice of such
defeasance request to NREC or its assignee.

 

(h)           
To the extent not required or permitted to be placed in a separate account, the Servicer shall deposit all payments received
by it from defeasance collateral substituted for the Property into the Collection Account and treat any such payments as payments
made on the Whole Loan in advance of its Loan Payment Date, and not as a prepayment of the Whole Loan. Notwithstanding anything
herein to the contrary, in no event shall the Servicer permit such amounts to be maintained in any Collection Account for a period
in excess of 365 days (or 366 days in the case of a leap year).

 

3.25.          
Servicer and Special Servicer May Own Certificates. The Servicer, the Special Servicer and any agent thereof in its
individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were
not the Servicer or the Special Servicer or such agent except as otherwise provided herein subject to the restrictions on voting
set forth in the definition of Certificateholder.

 

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3.26.         
Reserved.

 

3.27.        
Rating Agency Confirmation. (a)  Notwithstanding the terms of any Loan Documents or other provisions of
this Agreement, if any action under any Loan Documents or this Agreement requires a Rating Agency Confirmation or a written confirmation
from the Rating Agency that any action will not cause a downgrade, withdrawal or qualification of the then-current ratings on the
Certificates as a condition precedent to such action, if the party (the “Requesting Party”) seeking to obtain
such Rating Agency Confirmation or written confirmation has made a request to any Rating Agency for such Rating Agency Confirmation
or written confirmation and, within 10 Business Days of such request being sent to the applicable Rating Agency, such Rating Agency
has not replied to such request or has responded in a manner that indicates that such Rating Agency is either declining to review
such request or waiving the requirement for Rating Agency Confirmation or written confirmation, then such Requesting Party shall
be required to (i) confirm that the Rating Agency has received the Rating Agency Confirmation or written confirmation request,
and, if it has not, promptly request the related Rating Agency Confirmation or written confirmation again, (ii) if there is no
response to either such Rating Agency Confirmation or written confirmation request within five Business Days of such second request,
then (x) with respect to any condition in any Loan Document requiring such Rating Agency Confirmation or such written confirmation,
or any other matter under this Agreement relating to the servicing of the Whole Loan (other than as set forth in clause (y)
below), such requirement to obtain Rating Agency Confirmation or written confirmation from such Rating Agency for such action at
such time will not apply, and (y) with respect to a replacement of the Servicer or Special Servicer, such requirement to obtain
Rating Agency Confirmation or written confirmation from such Rating Agency for such action at such time will be deemed to be satisfied
(provided that granting such request is in accordance with Accepted Servicing Practices) with respect to:  (1)
Moody’s, if the applicable replacement has been appointed and currently serves as master or special servicer on a deal-level
or transaction-level basis for a CMBS transaction that has securities outstanding that are then-currently rated by Moody’s
and for which Moody’s has not cited servicing concerns of the applicable replacement as the sole or material factor in such
rating action or any qualification, downgrade, withdrawal of the ratings (or placement on “watch status” in contemplation
of a rating agency downgrade or withdrawal) of securities rated by Moody’s in a commercial mortgage-backed securitization
transaction serviced by the applicable replacement master servicer or special servicer prior to the time of determination, if Moody’s
is the non-responding Rating Agency, and (2) Morningstar, if (i) such replacement servicer or special servicer has a ranking by
Morningstar higher than or equal to “MOR CS3” as a master servicer or special servicer, as applicable or (ii)(A) such
replacement servicer or special servicer is acting as master servicer or special servicer, as applicable, in a commercial mortgage
loan securitization that was rated by a Rating Agency within the 12-month period prior to the date of determination and (B) Morningstar
has not cited servicing concerns of the applicable replacement servicer or special servicer as the sole or material factor in any
qualification, downgrade or withdrawal of the then-current rating or ratings of one or more classes of such commercial mortgage
backed securities. Any Rating Agency Confirmation request made by the Servicer, Special Servicer, Certificate Administrator or
Trustee, as applicable, pursuant to this Agreement, shall be made in writing (which may be in electronic format), which writing
shall contain a cover page indicating the nature of the Rating Agency Confirmation request, and shall contain all back-up material
the Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable, reasonably deems necessary for the

 

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Rating
Agency to process such request. Such written Rating Agency Confirmation request shall be provided in electronic format to the 17g-5
Information Provider, and the 17g-5 Information Provider shall post such request on the 17g-5 Information Provider’s Website
in accordance with Section 8.14(b).

 

Promptly following the
Servicer’s or Special Servicer’s determination to take any action discussed in this Section 3.27(a) following
any requirement to obtain a Rating Agency Confirmation being considered satisfied, the Servicer or Special Servicer, as applicable,
shall provide electronic written notice to the 17g-5 Information Provider of the action taken for the particular item at such time,
and the 17g-5 Information Provider shall post such notice on the 17g-5 Information Provider’s Website in accordance with
Section 8.14(b).

 

(b)          
For all other matters or actions requiring Rating Agency Confirmation and not specifically discussed in Section 3.27(a)
above, the applicable Requesting Party shall obtain and deliver Rating Agency Confirmation from each Rating Agency.

 

3.28.          
Certain Co-Lender Matters Relating to the Whole Loan.

 

(a)           
If, pursuant to Section 2.8, or Section 3.16 of this Agreement, the Trust Loan is, in its entirety,
purchased or repurchased from the Trust Fund, the subsequent holder thereof shall be bound by the terms of the Co-Lender Agreement
and shall assume the rights and obligations of the holder of the Trust Notes under the Co-Lender Agreement. All portions of the
Mortgage File and (to the extent provided under the Loan Purchase Agreement) other documents pertaining to the Trust Loan shall
be endorsed or assigned to the extent necessary or appropriate to the purchaser of the Trust Loan in its capacity as the holder
of the Trust Notes (as a result of such purchase, repurchase or substitution) and (except for the actual Trust Notes) on behalf
of the holders of the Companion Notes that evidence the Companion Loans. Thereafter, such Mortgage File shall be held by the holder
of the Trust Notes or a custodian appointed thereby for the benefit thereof, on behalf of itself and the Companion Loan Holders
as their interests appear under the Co-Lender Agreement. If the related servicing file is not already in the possession of such
party, it shall be delivered to the master servicer or special servicer, as the case may be, under any separate servicing agreement
for the Whole Loan.

 

(b)           
With respect to a Senior Companion Loan that becomes the subject of an “asset review” (or such analogous term
defined in the related Senior Companion Loan Pooling and Servicing Agreement) pursuant to the related Senior Companion Loan Pooling
and Servicing Agreement, the Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Custodian shall
reasonably cooperate with the asset representations reviewer or any other party to the Senior Companion Loan Pooling and Servicing
Agreement in connection with such asset review by providing the asset representations reviewer or such other requesting party with
any documents reasonably requested by the asset representations reviewer or such other requesting party, but only to the extent
(i) the requesting party or asset representations reviewer has not been able to obtain such documents from the Loan Seller or a
party to the Senior Companion Loan Pooling and Servicing Agreement and (ii) such documents are in the possession of the Servicer,
the Special Servicer, the Trustee, the Certificate Administrator or the Custodian, as the case may be. For the avoidance of doubt,
none of the Servicer, the Special Servicer, the Trustee, the Certificate Administrator or the Custodian shall (i) have further
obligations for such asset

 

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review or be bound by the related Senior Companion Loan Pooling and Servicing Agreement or shall (ii)
be obligated to provide such documents if providing such documents would, in its reasonable determination, be a violation of this
Agreement or the Co-Lender Agreement.

 

(c)           
Notwithstanding anything in this Agreement to the contrary, but only to the extent required under the Co-Lender Agreement,
the Servicer or Special Servicer, as applicable, shall consult with the Companion Loan Holders with respect to any matters with
respect to the servicing of the Companion Loans to the extent required under the Co-Lender Agreement. The Servicer or Special Servicer,
as applicable, shall deliver reports and notices to the Companion Loan Holders to the extent required under the Co-Lender Agreement.

 

(d)           
The Servicer shall prepare, or cause to be prepared, on an ongoing basis, a statement setting forth:

 

(i)            
the amount of the distribution from the Collection Account allocable to principal, separately identifying the amount of
balloon payments, principal prepayments made at the option of the Borrower or other principal prepayments (specifying the reason
therefor), net liquidation proceeds and foreclosure proceeds included therein and information on distributions made with respect
to the Whole Loan;

 

(ii)           
the amount of the distribution from the Collection Account allocable to interest and the amount of Default Interest actually
received with respect to the Whole Loan;

 

(iii)           the amount of the distribution to the Companion Loan Holders, separately identifying the non-default interest, principal
and other amounts included therein, and if the distribution to the Companion Loan Holders is less than the full amount that would
be distributable to such Companion Loan Holders if there were sufficient amounts available therefor, the amount of the shortfall
and the allocation thereof between interest and principal and the amount of the shortfall, if any, under the Whole Loan;

 

(iv)          
the principal balance of each Note after giving effect to the distribution of principal as of the end of the related Collection
Period; and

 

(v)           
the amount of the servicing compensation paid to the Servicer and the Special Servicer with respect to the most recent Distribution
Date, showing separately the Servicing Fee, the Special Servicing Fee, the Work-out Fee and the Liquidation Fee.

 

Not later than each Remittance
Date, the Servicer shall make the foregoing statement available to the Companion Loan Holders by electronic means.

 

(e)           
At any time that a Companion Loan is included as an asset of a Senior Companion Loan Securitization Trust and provided that
the applicable parties hereto have received written notice (which may be by email) thereof including contact information for the
master servicer and special servicer with respect to such Senior Companion Loan Securitization Trust, all notices, reports, information
or other deliverables required to be delivered to the related Companion Loan Holder pursuant to this Agreement or the Co-Lender
Agreement shall be delivered to the master servicer and special servicer of such Senior Companion Loan

 

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Securitization Trust (who
then may forward such items to the party entitled to receive such items as and to the extent provided in the related Senior Companion
Loan Pooling and Servicing Agreement) and, when so delivered to such master servicer and special servicer, the party hereto that
is obligated under this Agreement or the Co-Lender Agreement to deliver such notices, reports, information or other deliverables
shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Co-Lender Agreement.

 

3.29.          
Additional Matters with Respect to the Whole Loan.

 

(a)            In the event that only the Loan Seller repurchases one but not all of the Trust Notes (each, a “Repurchased Note”)
in accordance with Section 2.8 hereof and Section 8 of the Loan Purchase Agreement:

 

(i)           
The provisions of this Section 3.29 shall apply with respect to the servicing and administration of the Whole
Loan (and the Loan Seller has agreed to such provisions in the Loan Purchase Agreement) until such time as all of the Trust Notes
are repurchased or otherwise no longer part of the Trust, and the related successor holders thereof and the Companion Loan Holders
have entered into a servicing agreement with respect to the Whole Loan in accordance with the Co-Lender Agreement.

 

(ii)           
Custody of the respective Loan Documents shall be held exclusively by the Custodian, and record title under the respective
Loan Documents shall be held exclusively by the Trustee, on behalf of the Certificateholders, as provided under this Agreement
(subject to the rights of the Companion Loan Holders with respect to the Companion Loans), except that the Loan Seller shall hold
and retain title to its original Repurchased Note and any related endorsements thereof.

 

(iii)          
Payments from the Borrower or any other amounts received with respect to each Note shall be collected as provided in this
Agreement by the Servicer and shall be applied to each Note in accordance with this Co-Lender Agreement and this Agreement, subject
to Section 3.29(a)(iv). Payments or any other amounts received with respect to the related Repurchased Note shall be
held in trust by the Servicer for the benefit of the Loan Seller and remitted (net of its pro rata share of any Servicing
Fees, Special Servicing Fees, Certificate Administrator Fees (including that portion of the Certificate Administrator Fees that
represents the Trustee Fees, which are payable to the Trustee) and any Trust Fund Expenses) to the Loan Seller or its designee
by the Servicer on or before each Distribution Date pursuant to instructions provided by the Loan Seller and deposited and applied
in accordance with this Agreement, subject to Section 3.29(a)(iv). In the event that the Property becomes Foreclosed
Property, payments or any other amounts received with respect to the Whole Loan shall be collected and shall be applied pro
rata to each related Note (net of its pro rata share of any Servicing Fees, Special Servicing Fees, Certificate Administrator
Fees (including that portion of the Certificate Administrator Fees that represents the Trustee Fees, which are payable to the Trustee),
CREFC® Intellectual Property Royalty License Fees, and any other Trust Fund Expenses) based on its respective principal balance,
subject to Section 3.29(a)(iv).

 

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(iv)          
In the event that the Servicer or the Special Servicer, as applicable, receives an aggregate payment of less than the aggregate
amount due under the Whole Loan at any particular time, the Loan Seller shall be entitled to receive from the Servicer an amount
equal to the Loan Seller’s allocable share (based upon its respective principal balance) of such payment as determined in
accordance with the terms of the Co-Lender Agreement and this Agreement. All expenses, losses and shortfalls including, without
limitation, losses of principal or interest, Advances that have been declared Nonrecoverable Advances, interest on Advances, Special
Servicing Fees, Work-out Fees and Liquidation Fees (including any such fees related to the related Notes) and other Trust Fund
Expenses, will be allocated between the holders of the Notes in accordance with the Co-Lender Agreement, provided, however,
such allocation shall not limit the Trustee’s, Certificate Administrator’s, Servicer’s or Special Servicer’s
rights to full reimbursement of such expenses, losses and shortfalls under this Agreement.

 

(v)           
For so long as the Whole Loan shall be serviced by the Servicer or the Special Servicer in accordance with this Agreement,
the Servicer or the Special Servicer, as applicable, on behalf of the holders thereof shall administer the Whole Loan consistent
with the terms of this Agreement. The Loan Seller shall not be permitted to terminate the Servicer or Special Servicer as servicer
or special servicer of the related Repurchased Note. All rights of the mortgagee under the Whole Loan will be exercised by the
Servicer or Special Servicer, on behalf of the Trust to the extent of its interest therein, the Companion Loan Holders and on behalf
of the Loan Seller to the extent of its interest therein (as a collective whole) in accordance with this Agreement.

 

(vi)         
Funds collected by the Servicer or the Special Servicer, as applicable, and applied to the Notes shall be deposited and
disbursed in accordance with the provisions hereof. Compensation shall be paid to the Trustee, Certificate Administrator, Servicer,
Special Servicer and CREFC® with respect to the related Repurchased Note as provided in this Agreement. None of
the Trustee, the Certificate Administrator, the Servicer or the Special Servicer shall have any obligation to make any Monthly
Payment Advance on the Trust Loan with respect to the related Repurchased Note. The Servicer, Certificate Administrator and the
Special Servicer shall have no reporting requirement with respect to the related Repurchased Note other than that the holder of
the related Repurchased Note, subject to delivery by such holder of an Investor Certification, shall be entitled to receive any
and all reports and have access to any and all information that a Certificateholder would otherwise have under the terms of this
Agreement.

 

(vii)        
If any Note is considered a Specially Serviced Loan, then each Note shall be a Specially Serviced Loan under this Agreement
and the Special Servicer shall cause such related Repurchased Note to be specially serviced for the benefit of the Loan Seller
in accordance with the terms and provisions set forth in this Agreement and shall be entitled to any Special Servicing Fee, Work-out
Fee or Liquidation Fee that would be payable to the Special Servicer under this Agreement.

 

(viii)        
The Repurchased Note shall not be considered a Trust Note for purposes of exercising any of the consent or consultation
provisions of the Co-Lender Agreement

 

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but shall be entitled to the consultation rights granted to holders of the Non-Trust A Notes.

 

(b)           
If (A) the Servicer pays any amount to the Loan Seller pursuant hereto in the belief or expectation that a related payment
has been made or will be received or collected in connection with any or all of the Notes and (B) such payment is not received
or collected by the Servicer, then the Loan Seller will promptly on demand by the Servicer return such amount to the Servicer.
If the Servicer determines at any time that any amount received or collected by the Servicer in respect of the Whole Loan must
be returned to the Borrower or paid to any other Person or entity pursuant to any insolvency law or otherwise, notwithstanding
any other provision of this Agreement, the Servicer shall not be required to distribute any portion thereof to the Loan Seller,
and the Loan Seller will promptly on demand by the Servicer repay, which obligation shall survive the termination of this Agreement,
any portion thereof that the Servicer may have distributed to the Loan Seller, together with interest thereon at such rate, if
any, as the Servicer may pay to the Borrower or such other Person or entity with respect thereto.

 

(c)           
Subject to this Agreement, the Servicer, or the Special Servicer, as applicable, on behalf of the holders of the Repurchased
Note, shall have the exclusive right and obligation to (i) administer, service and make all decisions and determinations regarding
the Whole Loan, and (ii) enforce the Loan Documents as provided hereunder. Without limiting the generality of the preceding sentence,
the Servicer, or Special Servicer, as applicable, may provide consent to any action or inaction under the Loan Documents, agree
to any modification, waiver or amendment of any term of, forgive interest on and principal of, capitalize interest on, permit the
release, addition or substitution of collateral securing, and/or permit the release of the Borrower on or any guarantor of the
Whole Loan without the consent of the Loan Seller, subject, however, to Section 3.24.

 

(d)           
In taking or refraining from taking any action permitted hereunder, the Servicer and the Special Servicer shall each be
subject to the same degree of care with respect to the administration and servicing of the Whole Loan as is consistent with this
Agreement; and shall only be liable to the Loan Seller to the same extent as set forth herein as it is liable to the Trust.

 

(e)            
In the event that the Trustee or the Servicer has made a Property Protection Advance or an Administrative Advance with respect
to the Whole Loan that would otherwise be reimbursable to such advancing party under this Agreement, and such Advance is determined
to be a Nonrecoverable Advance, the Loan Seller shall reimburse the Trustee, the Certificate Administrator, the Servicer or the
Special Servicer, as applicable, in an amount equal to its pro rata share (based upon its respective principal balance)
of such Nonrecoverable Advance and accrued interest thereon at the Advance Rate. To the extent that the Loan Seller reimburses
any such Nonrecoverable Advances and such amounts are subsequently recovered by the Trust, the Loan Seller shall receive a reimbursement
from such recovery to the same extent. If less than 100% of the Nonrecoverable Advances are reimbursed by or on behalf of the Borrower,
the Servicer shall reimburse the Trust and the Loan Seller on a pro rata basis from such amounts received from the Borrower.
Notwithstanding anything herein to the contrary, including, but not limited to the Loan Seller’s reimbursement obligation
described herein, the Trustee or Servicer shall have a right to reimbursement of any amounts advanced under

 

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Section 3.4(c)
for the full Nonrecoverable Advance and interest thereon at the Advance Rate. Notwithstanding anything to the contrary contained
herein, the total liability of the Loan Seller shall not exceed an amount equal to its pro rata share (based upon its respective
principal balance) of the aggregate Whole Loan obligations.

 

(f)             
The Loan Seller shall have the right to assign the related Repurchased Note; provided that the assignee of the related
Repurchased Note shall agree in writing to be bound by the terms of this Agreement.

 

(g)           
The Servicer and the Special Servicer shall, in connection with their servicing and administrative duties under this Agreement,
exercise efforts consistent with the Accepted Servicing Practices to execute and deliver, on behalf of the Loan Seller as a holder
of a pari passu interest in the Whole Loan, any and all documents and instruments necessary to maintain the lien created
by the Mortgage or other security document related to the Whole Loan or the Property and related collateral, any and all modifications,
waivers, amendments or consents to or with respect to the Loan Documents, and any and all instruments of satisfaction or cancellation,
or of full release or discharge, and all other comparable instruments with respect to the related Repurchased Note or related Repurchased
Notes and the Property all in accordance with, and subject to, the terms of this Agreement. The Loan Seller agrees to furnish,
or cause to be furnished, to the Servicer and the Special Servicer any powers of attorney or other documents necessary or appropriate
to enable the Servicer or the Special Servicer, as the case may be, to carry out its servicing and administrative duties under
this Agreement related to the Whole Loan; provided, however, that the Loan Seller shall not be liable, and shall
be indemnified by the Servicer or the Special Servicer, as applicable, for any negligence with respect to, or misuse of, any such
power of attorney by the Servicer or the Special Servicer, as the case may be; and further provided that the Servicer or
the Special Servicer, without the written consent of the Loan Seller, shall not initiate any action in the name of the Loan Seller
without indicating its representative capacity that actually causes the Loan Seller to be registered to do business in any state.

 

(h)           
The Loan Seller agrees to deliver to the Servicer or the Special Servicer, as applicable the Loan Documents related to the
related Repurchased Note or related Repurchased Notes, as applicable, any receipt for release and any court pleadings, requests
for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of the Property or
to any legal action or to enforce any other remedies or rights provided by the Note(s) or the Mortgage or otherwise available at
law or equity with respect to the related Repurchased Note.

 

The rights granted to
the Loan Seller under this Section 3.29 shall in all respects be subject to the general rights, indemnification in
favor of the Certificate Administrator, Trustee, Servicer and Special Servicer, protections, limitations on liability and immunities
granted to the parties in this Agreement (including, but not limited to, Section 6.3) and this Section 3.29
shall not be construed to limit such indemnification in favor of the Certificate Administrator, Trustee, Servicer and Special Servicer
rights, protections, limitations on liability and immunities which shall apply to all the Notes, including the Repurchased Note.

 

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4.                 
PAYMENTS AND STATEMENTS TO CERTIFICATEHOLDERS

 

4.1.            
Distributions. (a)  On each Distribution Date, to the extent of Available Funds, amounts held in the Upper-Tier
Distribution Account shall be withdrawn and distributed in the following amounts (in the case of the Regular Interests, deposited
in the Regular Interest Distribution Account):

 

first, in respect
of the Class A and Class X Regular Interests, on a pro rata basis, based on each Regular Interest’s respective Interest
Distribution Amount for such Distribution Date, in an amount in respect of interest, up to such Interest Distribution Amount for
such Regular Interests;

 

second, in respect
of the Class A Regular Interest, in reduction of the Certificate Balance thereof, in an amount equal to the Principal Distribution
Amount for such Regular Interest and such Distribution Date until the Certificate Balance thereof is reduced to zero;

 

third, in respect
of the Class A Regular Interest, up to an amount equal to all Applied Realized Loss Amounts previously allocated to such Regular
Interest and not reimbursed on prior Distribution Dates;

 

fourth, in respect
of the Class B Regular Interest, in respect of interest, up to the Interest Distribution Amount for such Regular Interest
and such Distribution Date;

 

fifth, in respect
of the Class B Regular Interest, in reduction of the Certificate Balance thereof, in an amount equal to the Principal Distribution
Amount for such Regular Interest and such Distribution Date until the Certificate Balance thereof is reduced to zero;

 

sixth, in respect
of the Class B Regular Interest, up to the amount of all Applied Realized Loss Amounts previously allocated to such Regular
Interest and not reimbursed on prior Distribution Dates;

 

seventh, in respect
of the Class C Regular Interest, in respect of interest, up to the Interest Distribution Amount for such Regular Interest
and such Distribution Date;

 

eighth, in respect
of the Class C Regular Interest, in reduction of the Certificate Balance thereof, in an amount equal to the Principal Distribution
Amount for such Regular Interest and such Distribution Date until the Certificate Balance thereof is reduced to zero;

 

ninth, in respect
of the Class C Regular Interest, up to the amount of all Applied Realized Loss Amounts previously allocated to such Regular
Interest and not reimbursed on prior Distribution Dates;

 

tenth, in respect
of the Class D Regular Interest, in respect of interest, up to the Interest Distribution Amount for such Regular Interest
and such Distribution Date;

 

eleventh, in respect
of the Class D Regular Interest, in reduction of the Certificate Balance thereof, in an amount equal to the Principal Distribution
Amount for such Regular Interest and such Distribution Date until the Certificate Balance thereof is reduced to zero;

 

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twelfth, in respect
of the Class D Regular Interest, up to the amount of all Applied Realized Loss Amounts previously allocated to such Regular
Interest and not reimbursed on prior Distribution Dates;

 

thirteenth, to
the Holders of the Class R Certificates (in respect of the Class UT-R Interest), any remaining amounts.

 

In no event will any
Regular Interest receive distributions in reduction of its Certificate Balance (i) that in the aggregate exceed the Initial
Certificate Balance of such Class or (ii) prior to the reduction of the Certificate Balance of each Regular Interest with an earlier
alphabetical designation to such Class to zero. The Notional Amount of the Class X Regular Interest will be reduced by the amount
of reduction in the aggregate of the Certificate Balances of the Class A and Class B Regular Interests.

 

(b)           
Amounts distributed on the Regular Interests pursuant to Section 4.1(a) shall be further distributed from the Regular
Interest Distribution Account to the Holders of the Certificates (other than the Class R Certificates) as set forth below:

 

(i)              
On each Distribution Date, simultaneously with the distributions made on the Class A Regular Interest under Section 4.1(a),
the aggregate amount so distributed on the Class A Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class A Certificates, the Class V-ABC Certificates and the Class V2 Certificates
in the following amounts and in the following order of priority:

 

(A)            
first, concurrently, to (1) the Class A Certificates in respect of interest, up to an amount equal to the Class
A Percentage Interest of the amount distributed in respect of interest on the Class A Regular Interest under Section 4.1(a),
(2) the Class V-ABC Certificates in respect of interest, up to an amount equal to the Class V-ABC Percentage Interest of the
amount distributed in respect of interest on the Class A Regular Interest under Section 4.1(a), and (3) the Class V2
Certificates in respect of interest, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect
of interest on the Class A Regular Interest under Section 4.1(a);

 

(B)             
second, concurrently, to (1) the Class A Certificates in respect of principal, up to an amount equal to the
Class A Percentage Interest of the amount distributed in respect of principal on the Class A Regular Interest under Section
4.1(a), (2) the Class V-ABC Certificates in respect of principal, up to an amount equal to the Class V-ABC Percentage
Interest of the amount distributed in respect of principal on the Class A Regular Interest under Section 4.1(a), and (3) the
Class V2 Certificates in respect of principal, up to an amount equal to the Class V2 Percentage Interest of the amount distributed
in respect of principal on the Class A Regular Interest under Section 4.1(a); and

 

(C)             
third, concurrently, to (1) the Class A Certificates in respect of unreimbursed Realized Losses, up to an amount
equal to the Class A Percentage

 

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Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class A Regular
Interest under Section 4.1(a), (2) the Class V-ABC Certificates in respect of unreimbursed Realized Losses, up to an
amount equal to the Class V-ABC Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the
Class A Regular Interest under Section 4.1(a), and (3) the Class V2 Certificates in respect of unreimbursed Realized
Losses, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect of unreimbursed Realized
Losses on the Class A Regular Interest under Section 4.1(a).

 

(ii)            
On each Distribution Date, simultaneously with the distributions made on the Class X Regular Interest under Section 4.1(a),
the aggregate amount so distributed on the Class X Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class X Certificates, the Class V-ABC Certificates and the Class V2 Certificates,
concurrently, to (1) the Class X Certificates in respect of interest, up to an amount equal to the Class X Percentage
Interest of the amount distributed in respect of interest on the Class X Regular Interest under Section 4.1(a), (2) the
Class V-ABC Certificates in respect of interest, up to an amount equal to the Class V-ABC Percentage Interest of the amount distributed
in respect of interest on the Class X Regular Interest under Section 4.1(a), and (3) the Class V2 Certificates in respect
of interest, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect of interest on the
Class X Regular Interest under Section 4.1(a).

 

(iii)            
On each Distribution Date, simultaneously with the distributions made on the Class B Regular Interest under Section 4.1(a),
the aggregate amount so distributed on the Class B Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class B Certificates, the Class V-ABC Certificates and the Class V2 Certificates
in the following amounts and in the following order of priority:

 

(A)            
first, concurrently, to (1) the Class B Certificates in respect of interest, up to an amount equal to the Class
B Percentage Interest of the amount distributed in respect of interest on the Class B Regular Interest under Section 4.1(a),
(2) the Class V-ABC Certificates in respect of interest, up to an amount equal to the Class V-ABC Percentage Interest of the
amount distributed in respect of interest on the Class B Regular Interest under Section 4.1(a), and (3) the Class
V2 Certificates in respect of interest, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in
respect of interest on the Class B Regular Interest under Section 4.1(a);

 

(B)             
second, concurrently, to (1) the Class B Certificates in respect of principal, up to an amount equal to the
Class B Percentage Interest of the amount distributed in respect of principal on the Class B Regular Interest under Section 4.1(a)
(2) the Class V-ABC Certificates in respect of principal, up to an amount equal to the Class V-ABC Percentage Interest of
the amount distributed in respect of principal on the Class B Regular Interest under Section 4.1(a), and

 

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(3) the
Class V2 Certificates in respect of principal, up to an amount equal to the Class V2 Percentage Interest of the amount distributed
in respect of principal on the Class B Regular Interest under Section 4.1(a); and

 

(C)             
third, concurrently, to (1) the Class B Certificates in respect of unreimbursed Realized Losses, up to an amount
equal to the Class B Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class B Regular
Interest under Section 4.1(a), (2) the Class V-ABC Certificates in respect of unreimbursed Realized Losses, up to an
amount equal to the Class V-ABC Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the
Class B Regular Interest under Section 4.1(a), and (3) the Class V2 Certificates in respect of unreimbursed Realized
Losses, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect of unreimbursed Realized
Losses on the Class B Regular Interest under Section 4.1(a).

 

(iv)          
On each Distribution Date, simultaneously with the distributions made on the Class C Regular Interest under Section 4.1(a),
the aggregate amount so distributed on the Class C Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class C Certificates, the Class V-ABC Certificates and the Class V2 Certificates
in the following amounts and in the following order of priority:

 

(A)            
first, concurrently, to (1) the Class C Certificates in respect of interest, up to an amount equal to the Class
C Percentage Interest of the amount distributed in respect of interest on the Class C Regular Interest under Section 4.1(a),
(2) the Class V-ABC Certificates in respect of interest, up to an amount equal to the Class V-ABC Percentage Interest of the
amount distributed in respect of interest on the Class C Regular Interest under Section 4.1(a), and (3) the Class
V2 Certificates in respect of interest, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in
respect of interest on the Class C Regular Interest under Section 4.1(a);

 

(B)             
second, concurrently, to (1) the Class C Certificates in respect of principal, up to an amount equal to the
Class C Percentage Interest of the amount distributed in respect of principal on the Class C Regular Interest under Section 4.1(a),
(2) the Class V-ABC Certificates in respect of principal, up to an amount equal to the Class V-ABC Percentage Interest of
the amount distributed in respect of principal on the Class C Regular Interest under Section 4.1(a), and (3) the
Class V2 Certificates in respect of principal, up to an amount equal to the Class V2 Percentage Interest of the amount distributed
in respect of principal on the Class C Regular Interest under Section 4.1(a); and

 

(C)             
third, concurrently, to (1) the Class C Certificates in respect of unreimbursed Realized Losses, up to an amount
equal to the Class C Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class C Regular
Interest under Section 4.1(a), (2) the Class V-ABC

 

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Certificates in respect of unreimbursed Realized Losses, up
to an amount equal to the Class V-ABC Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses
on the Class C Regular Interest under Section 4.1(a), and (3) the Class V2 Certificates in respect of unreimbursed
Realized Losses, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect of unreimbursed
Realized Losses on the Class C Regular Interest under Section 4.1(a).

 

(v)            
On each Distribution Date, simultaneously with the distributions made on the Class D Regular Interest under Section 4.1(a),
the aggregate amount so distributed on the Class D Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class D Certificates, the Class V-D Certificates and the Class V2 Certificates
in the following amounts and in the following order of priority:

 

(A)            
first, concurrently, to (1) the Class D Certificates in respect of interest, up to an amount equal to the Class
D Percentage Interest of the amount distributed in respect of interest on the Class D Regular Interest under Section 4.1(a),
(2) the Class V-D Certificates in respect of interest, up to an amount equal to the Class V-D Percentage Interest of the amount
distributed in respect of interest on the Class D Regular Interest under Section 4.1(a), and (3) the Class V2
Certificates in respect of interest, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect
of interest on the Class D Regular Interest under Section 4.1(a);

 

(B)             
second, concurrently, to (1) the Class D Certificates in respect of principal, up to an amount equal to the
Class D Percentage Interest of the amount distributed in respect of principal on the Class D Regular Interest under Section 4.1(a),
(2) the Class V-D Certificates in respect of principal, up to an amount equal to the Class V-D Percentage Interest of the
amount distributed in respect of principal on the Class D Regular Interest under Section 4.1(a), and (3) the Class
V2 Certificates in respect of principal, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in
respect of principal on the Class D Regular Interest under Section 4.1(a); and

 

(C)             
third, concurrently, to (1) the Class D Certificates in respect of unreimbursed Realized Losses, up to an amount
equal to the Class D Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class D Regular
Interest under Section 4.1(a), (2) the Class V-D Certificates in respect of unreimbursed Realized Losses, up to
an amount equal to the Class V-D Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the
Class D Regular Interest under Section 4.1(a), and (3) the Class V2 Certificates in respect of unreimbursed Realized
Losses, up to an amount equal to the Class V2 Percentage Interest of the amount distributed in respect of unreimbursed Realized
Losses on the Class D Regular Interest under Section 4.1(a).

 

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On each Distribution
Date, each Uncertificated Lower-Tier Interest shall be deemed to receive distributions in respect of principal or reimbursement
of Realized Losses in an amount equal to the amount of principal or reimbursement of Realized Losses actually distributable to
its respective Related Certificates as provided in Sections 4.1(a) and 4.1(g). On each Distribution Date, each
Uncertificated Lower-Tier Interest shall be deemed to receive distributions in respect of interest in an amount equal to the sum
of the Interest Distribution Amount and Interest Shortfall in respect of its Related Certificates and in the case of the Class LA,
Class LB and Class LC Uncertificated Interests, the Interest Distribution Amount and Interest Shortfall in respect of the Class
X Strip Rate of the Related Class X Component, in each case, to the extent actually distributable thereon as provided in Section 4.1(a).
Amounts distributable pursuant to this paragraph and any Yield Maintenance Premiums distributed pursuant to Section 4.3(b)
are referred to herein collectively as the “Lower-Tier Distribution Amount”, and shall be deemed to be made
by the Certificate Administrator by being deemed to deposit such Lower-Tier Distribution Amount into the Upper-Tier Distribution
Account on each Distribution Date.

 

As of any date, the principal
balance of each Uncertificated Lower-Tier Interest shall equal its Lower-Tier Principal Amount. The Pass-Through Rate with respect
to each Uncertificated Lower-Tier Interest shall be the rate per annum set forth in the Introductory Statement hereto.

 

Any amount that remains
in the Lower-Tier Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution Amount shall
be distributed to the Holders of the Class R Certificates (in respect of the Class LT-R Interest, but only to the extent of
the amount remaining in the Lower-Tier Distribution Account, if any).

 

Distributions to Holders
of Class R Certificates from the Lower-Tier Distribution Account (in respect of the Class LT-R Interest) and from the Upper-Tier
Distribution Account (in respect of the Class UT-R Interest) and to each other Certificateholder from the Regular Interest Distribution
Account on each Distribution Date shall be made by the Certificate Administrator to each Certificateholder of record on the related
Record Date (other than as provided in Section 10.1 in respect of the final distribution), by wire transfer in immediately
available funds to the account of such Certificateholder at a bank or other entity located in the United States and having appropriate
facilities therefor; provided that the Certificate Administrator has received appropriate wire transfer instructions therefrom,
or by check by first class mail to the address set forth therefor in the Certificate Register if wiring instructions have not been
received at least five Business Days prior to the Distribution Date.

 

(c)          
All amounts distributable to a Class of Certificates pursuant to Section 4.1(b) on each Distribution Date shall
be allocated pro rata among the outstanding Certificates in each such Class based on their respective Percentage Interests.
Such distributions shall be made on each Distribution Date to each Certificateholder of record at the close of business on the
related Record Date by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other
entity located in the United States and having appropriate facilities therefor provided that the Certificate Administrator
has received appropriate wire transfer instructions therefrom, or by check by first class mail to the address set forth therefor
in the Certificate Register if wiring instructions have not been received at least five

 

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Business Days prior to the Distribution
Date. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the location specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

(d)           
The Certificate Administrator shall, as soon as reasonably possible after notice thereof by the Servicer to the Certificate
Administrator that the final distribution with respect to any Class of Certificates is expected to be made, post a notice
on the Certificate Administrator’s Website pursuant to Section 8.14(b), deliver such notice to the 17g-5 Information
Provider (who shall post such notice on the 17g-5 Information Provider’s Website pursuant to Section 8.14(b)) and
mail to each Holder of such Class of Certificates on such date a notice to the effect that:

 

(i)            
the Certificate Administrator reasonably expects based upon information previously provided to it that the final distribution
with respect to such Class of Certificates shall be made on such Distribution Date, but only upon presentation and surrender
of such Certificates at the office of the Certificate Administrator therein specified; and

 

(ii)           
if such final distribution is made on such Distribution Date, no interest shall accrue on such Certificate from and after
the Certificate Interest Accrual Period related to such Distribution Date.

 

(e)            
Any funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the
failure of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held in trust for the benefit
of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section
shall not have been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator
shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation to
receive the final distribution with respect thereto. If within one year after the second notice not all of such Certificates shall
have been surrendered for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate steps
to contact the remaining non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses of
holding such funds in trust and of contacting such Certificateholders shall be paid out of such funds. All such amounts shall be
held by the Certificate Administrator in trust in accordance herewith until the expiration of a two-year period following such
second notice, notwithstanding any termination of the Trust Fund. Subject to applicable state escheatment laws, if within two years
after the second notice any such Certificates shall not have been surrendered for cancellation, the Certificate Administrator shall
hold all amounts distributable to the Holders thereof for the benefit of such Holders until the earlier of (i) its termination
as Certificate Administrator hereunder and the transfer of such amounts to a successor Certificate Administrator and (ii) the
termination of the Trust Fund, at which time such amounts shall, subject to applicable law, be distributed to the Depositor. No
interest shall accrue or be payable to any Certificateholder on any amount held in trust hereunder or by the Certificate Administrator
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance

 

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with
this Section 4.1(e). Any such amounts transferred to the Certificate Administrator shall not be invested.

 

(f)            
The Certificate Administrator shall be responsible for the calculations with respect to distributions from the Trust so
long as the Trust Fund has not been terminated in accordance with this Agreement. The Certificate Administrator shall have no duty
to recompile, recalculate or verify the accuracy of information provided to it by the Servicer pursuant to Section 3.18(a)
and, in the absence of manifest error in such information, may conclusively rely upon it.

 

(g)           
On each Distribution Date, Realized Losses with respect to the Trust Loan shall be allocated to reduce the Certificate Balance
of each Class of Regular Interests (other than the Class X Regular Interest) in the following order:

 

first, to the
Class D Regular Interest;

 

second, to the
Class C Regular Interest;

 

third, to the
Class B Regular Interest; and

 

fourth, to the
Class A Regular Interest; in each case until the Certificate Balance of the related Class has been reduced to zero.

 

On any Distribution Date,
allocations of Realized Losses to any Class of Regular Interests (other than the Class X Regular Interest) (or portion thereof)
that corresponds to a Class X Component shall result in a corresponding reduction in the Notional Amount of the Class X Regular
Interest, as applicable, on the same Distribution Date. Allocations of Realized Losses to any Class of Regular Interests (other
than the Class X Regular Interest) shall be deemed to result in a corresponding reduction of the Lower-Tier Principal Amount of
the Related Uncertificated Lower-Tier Interest.

 

To the extent any Realized
Losses are subsequently recovered, the amount of such recovery shall be reimbursed to the Certificateholders in the following order:
first, to the Class A Regular Interest, second, to the Class B Regular Interest, third, to the Class C
Regular Interest, and fourth, to the Class D Regular Interest (and the Related Uncertificated Lower-Tier Interests),
in each case up to the amount of any Realized Losses, if any, that have been allocated to such Class.

 

Any such Realized Losses
and any Realized Losses that are subsequently recovered in respect of:

 

(A)         
the Class A Regular Interest shall be further allocated to the Class A Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion to the Class A Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively;

 

(B)          
the Class B Regular Interest shall be further allocated to the Class B Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion

 

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to the Class B Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively;

 

(C)          
the Class C Regular Interest shall be further allocated to the Class C Certificates, the Class V-ABC Certificates and the
Class V2 Certificates, pro rata in proportion to the Class C Percentage Interest, the Class V-ABC Percentage Interest and
the Class V2 Percentage Interest, respectively; and

 

(D)            
the Class D Regular Interest shall be further allocated to the Class D Certificates, the Class V-D Certificates and the
Class V2 Certificates, pro rata in proportion to the Class D Percentage Interest, the Class V-D Percentage Interest and
the Class V2 Percentage Interest, respectively.

 

4.2.           
Withholding Tax.   (a) Notwithstanding any other provision of this Agreement, the Certificate Administrator
shall comply with all federal withholding requirements with respect to payments to Certificateholders or any payee that the Certificate
Administrator reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for any
such withholding. In the event the Certificate Administrator withholds any amount from interest payments or advances thereof to
any Certificateholder or payee pursuant to federal withholding requirements, amounts so withheld shall be treated as having been
entirely distributed to such Certificateholder or payee, and the Certificate Administrator shall indicate the amount withheld to
such Certificateholder or payee through a report.

 

(b)       Each
Beneficial Owner and Certificateholder, by the purchase of a Certificate or its acceptance of a beneficial interest therein, acknowledges
that interest on the Certificates will be treated as United States source interest, and, as such, United States withholding tax
may apply. Each such Beneficial Owner and Certificateholder further agrees, upon request, to provide any certifications that may
be required under applicable law, regulations or procedures to evidence its status for United States withholding tax purposes and
understands that if it ceases to satisfy the foregoing requirements or provide requested documentation, payments to it under the
Certificates may be subject to United States withholding tax (without any corresponding gross-up). Without limiting the foregoing,
if a payment made under this Agreement would be subject to United States federal withholding tax imposed by FATCA if the recipient
of such payment were to fail to comply with FATCA (including the requirements of Sections 1471(b) or 1472(b) of the Code, as applicable),
such recipient shall deliver to the Certificate Administrator, with a copy to the Trustee, at the time or times prescribed by the
Code and at such time or times reasonably requested by the Certificate Administrator or the Trustee, such documentation prescribed
by the Code (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested
by the Trustee or the Certificate Administrator to comply with their respective obligations under FATCA, to determine that such
recipient has complied with such recipient’s obligations under FATCA, or to determine the amount to deduct and withhold from
such payment.

 

4.3.            
Allocation and Distribution of Yield Maintenance Premiums. (a) On any Distribution Date, any Yield Maintenance Premiums
collected in respect of the Trust Loan during the related Collection Period shall be distributed to the holders of each Class of
Certificates (other than the Class R Certificates) in the following manner: (i) the

 

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Certificateholders of each Class of Sequential
Pay Certificates shall be entitled to receive on each Distribution Date, an amount of Yield Maintenance Premiums for the Trust
Loan prepayments, in an amount equal to the product of (x) a fraction whose numerator is the amount of principal distributed to
such Class on such Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates
representing principal payments collected in respect of the Trust Loan on such Distribution Date, (y) the Base Interest Fraction
for the related principal prepayment on such Class of Certificates, and (z) the Yield Maintenance Premiums collected during the
related Collection Period; and (ii) any Yield Maintenance Premiums collected during the related Collection Period remaining after
such distributions will be further distributed as follows: to the Class X Certificates, in an amount equal to the product of (1)
a fraction whose numerator is the amount of principal distributed to the Class A Certificates on such Distribution Date and whose
denominator is the total amount of principal distributed to all of the Certificates representing principal payments in respect
of the Trust Loan on such Distribution Date, and (2) the Yield Maintenance Premium collected during the related Collection Period,
minus (b) the amount of Yield Maintenance Premium distributable to the Class A, Class B, Class C and Class D Certificates on such
Distribution Date. If there is more than one such Class of Certificates entitled to distributions of principal on any particular
Distribution Date on which Yield Maintenance Premiums are distributable, the aggregate amount of such Yield Maintenance Premiums
shall be allocated among all such Classes of Certificates up to, and on a pro rata basis in accordance with, their respective
entitlements thereto in accordance with the first sentence of this paragraph. For the avoidance of doubt, the Class X Certificates
shall not be entitled to any Yield Maintenance Premiums after their respective Notional Amounts has been reduced to zero.

 

(b)            
All Yield Maintenance Premiums distributable pursuant to Section 4.3(a) shall first be deemed to have been distributed
from the Lower-Tier REMIC to the Upper-Tier REMIC in respect of the Class LA Uncertificated Interest (whether or not the Lower-Tier
Principal Amount of such Uncertificated Lower-Tier Interest has been reduced to zero) and form the Upper-Tier REMIC to the Grantor
Trust in respect of the related Classes of Regular Interests.

 

(c)            
On each Distribution Date, any Yield Maintenance Premiums distributed in respect of:

 

(i)             
the Class A Regular Interest shall be further allocated between and distributed on the Class A Certificates, the Class V-ABC
Certificates and the Class V2 Certificates, pro rata in proportion to the Class A Percentage Interest, the Class V-ABC Percentage
Interest and the Class V2 Percentage Interest, respectively;

 

(ii)           
the Class X Regular Interest shall be further allocated between and distributed on the Class X Certificates, Class V-ABC
Certificates and the Class V2 Certificates, pro rata in proportion to the Class X Percentage Interest, the Class V-ABC Percentage
Interest and the Class V2 Percentage Interest, respectively;

 

(iii)         
the Class B Regular Interest shall be further allocated between and distributed on the Class B Certificates, the Class V-ABC
Certificates and the Class V2 Certificates, pro rata in proportion to the Class B Percentage Interest, the Class V-ABC
Percentage Interest and the Class V2 Percentage Interest, respectively;

 

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(iv)         
the Class C Regular Interest shall be further allocated between and distributed on the Class C Certificates, the Class V-ABC
Certificates and the Class V2 Certificates, pro rata in proportion to the Class C Percentage Interest, the Class V-ABC
Percentage Interest and the Class V2 Percentage Interest, respectively; and

 

(v)          
the Class D Regular Interest shall be further allocated between and distributed on the Class D Certificates, the Class V-D
Certificates and the Class V2 Certificates, pro rata in proportion to the Class D Percentage Interest, the Class V-D
Percentage Interest and the Class V2 Percentage Interest, respectively.

 

4.4.            
Statements to Certificateholders. (a)  On each Distribution Date, based on information provided by the
Servicer and the Special Servicer, as applicable, the Certificate Administrator shall prepare in accordance with CREFC®
guidelines as of the Closing Date and forward or make available through its internet website, which is located at www.ctslink.com
to any Privileged Person, a statement (with respect to items not prepared by the Certificate Administrator, to the extent such
items were delivered to the Certificate Administrator in a readable, uploadable, un-corrupted and un-locked electronic format),
in respect of the distributions on such Distribution Date (a “Distribution Date Statement”) setting forth:

 

(i)             
for each Class of Certificates (other than the Class R Certificates) (A) the amount of the distributions made on such
Distribution Date allocable to interest at the Pass-Through Rate and the amount allocable to principal (separately identifying
the amount of any principal payments (and specifying the source of such payments)), (B) the amount of any Yield Maintenance
Premiums collected on the Trust Loan allocable to each Class of Certificates and (C) and the amount of interest paid on Advances
from Default Interest and allocable to such Class;

 

(ii)             if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable
to such Holders if there were sufficient Available Funds, the amount of the shortfall allocable to such Class, stating separately
amounts allocable to principal and interest;

 

(iii)           
the amount of any Monthly Payment Advance for such Distribution Date;

 

(iv)         
the Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates (other than the Class R Certificates)
after giving effect to any distribution in reduction of the Certificate Balance or Notional Amount, as the case may be, on such
Distribution Date;

 

(v)           
the principal balance of the Trust Loan as of the end of the Collection Period for such Distribution Date;

 

(vi)          
the aggregate amount of Unscheduled Payments (and the source of such payments) made during the related Collection Period
and the aggregate amount of such payments allocable to the Trust Loan;

 

(vii)        
identification of any Loan Event of Default or any Special Servicing Loan Event, any Servicer Termination Event or Special
Servicer Termination Event under this

 

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Agreement that in either case has been declared as of the close of business on the second
Business Day prior to the end of the immediately preceding calendar month;

 

(viii)       
the amount of compensation (other than the Servicing Fee) paid to the Servicer and the Special Servicer with respect to
such Distribution Date, separately listing any Liquidation Fees or Work-Out Fees and any other Borrower charges retained by the
Servicer or the Special Servicer and the amount of compensation paid to the Servicer, the Special Servicer, CREFC®,
the Certificate Administrator and the Trustee, separately listing the Certificate Administrator Fee (including the Trustee Fee,
if the Certificate Administrator and the Trustee are not the same entity), the CREFC® Intellectual Property Royalty
License Fee and the Special Servicing Fee;

 

(ix)           
the number of days the Borrower is delinquent in the event that the Borrower is delinquent at least 30 days and the date
upon which any foreclosure proceedings have been commenced;

 

(x)            
notification if the Property (or any portion thereof) has become a Foreclosed Property as of the close of business on the
Loan Payment Date immediately preceding such Distribution Date;

 

(xi)           
information with respect to any declared bankruptcy of the Borrower;

 

(xii)         
as to any item of Collateral released, liquidated or disposed of during the preceding Collection Period, the identity of
such item and the amount of proceeds of any liquidation or other amounts, if any, received therefrom during the related Collection
Period;

 

(xiii)        
Reserved.

 

(xiv)       
the aggregate amount of all Advances, if any, not yet reimbursed;

 

(xv)         
the amount of any reimbursement of Nonrecoverable Advances paid to the Servicer;

 

(xvi)        
a report identifying any Appraisal Reduction Amount;

 

(xvii)     
the amount of Default Interest, if any, and late payment charges, if any, paid by the Borrower during the related Collection
Period on the Whole Loan in the aggregate;

 

(xviii)    
the aggregate amount of Borrower Reimbursable Trust Fund Expenses and the amount collected from the Borrower in respect
of such Trust Fund Expenses; and

 

(xix)        
an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during
the related Collection Period to the extent provided to the Certificate Administrator by the Special Servicer per Section 3.18(d)
hereof.

 

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The Certificate Administrator,
the Servicer and the Special Servicer may agree to enhance the reporting requirements of the Distribution Date Statement without
Certificateholder approval.

 

Within a reasonable period
of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who at any time during
the calendar year was a Holder of a Certificate upon written request to the Certificate Administrator, a statement containing the
information set forth in clauses (i), (ii), (iv) and (viii) above as to the applicable Class, aggregated for such calendar
year or applicable portion of such year during which such Person was a Certificateholder, together with such other information
as the Certificate Administrator deems necessary or desirable, or that a Certificateholder or beneficial owner of a Certificate
reasonably requests, to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Certificate
Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided
by the Certificate Administrator pursuant to any requirements of the Code as from time to time are in force.

 

(b)          
The Certificate Administrator shall make available to Privileged Persons on each Distribution Date, pursuant to Section 8.14(b),
(i) the CREFC® Reports with respect to such Distribution Date received from the Servicer pursuant to Section 3.18(a) and
(ii) when received from the Special Servicer, the summary of the Asset Status Report received from the Special Servicer pursuant
to Section 3.10. The Certificate Administrator’s obligation to provide such information to Certificateholders
and others shall be contingent on the Certificate Administrator’s receipt of such information from the Servicer and the Special
Servicer, as applicable. The Certificate Administrator shall be entitled to rely on such information provided to it by the Servicer
or the Special Servicer without independent verification. To the extent that the information required to be furnished by the Servicer
is based on information required to be provided by the Borrower or the Special Servicer, the Servicer’s obligation to furnish
such information to the Certificate Administrator shall be contingent on its receipt of such information from the Borrower or the
Special Servicer, as applicable. To the extent that information required to be furnished by the Special Servicer is based on information
required to be provided by the Borrower, the Special Servicer’s obligation to furnish such information shall be contingent
upon its receipt of such information from the Borrower. The Servicer, the Special Servicer and the Certificate Administrator shall
be entitled to rely on information supplied by the Borrower without independent verification.

 

The Certificate Administrator
shall, to the extent provided to it by the Servicer in electronic format, make available to Privileged Persons pursuant to Section 8.14(b)
reports or analyses of net operating income from the Property. Such net operating income reports or analyses shall be prepared
pursuant to Section 3.18 hereof by the Servicer in CREFC® format based on the quarterly, annual and
periodic statements and rent rolls with respect to the Property obtained by the Servicer from the Borrower.

 

If so authorized by the
Depositor, the Certificate Administrator may make available on its internet website to the Initial Purchasers, the Servicer, the
Special Servicer and each Certificateholder certain other information with respect to the Whole Loan (subject to the

 

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limitations
of Section 3.18) and will provide such information to the 17g-5 Information Provider (who shall post it to the 17g-5 Information
Website pursuant to Section 8.14(b)).

 

In addition, the Certificate
Administrator shall make available on its website such information as set forth in Section 8.14(b) herein.

 

4.5.            
Investor Q&A Forum; Investor Registry and Rating Agency Q&A Forum. (a)  The Certificate Administrator
shall make available, only to Privileged Persons (which for this purpose excludes a Privileged Person who provided the Certificate
Administrator with an Investor Certification in the form of Exhibit J-2 hereto), the Investor Q&A Forum. The “Investor
Q&A Forum” shall be a service available on the Certificate Administrator’s Website, where (i) Certificateholders
and Beneficial Owners who provide the Certificate Administrator with an Investor Certification in the form of Exhibit J-1
may submit questions to the Certificate Administrator relating to the Distribution Date Statement, or submit questions to the Servicer
or the Special Servicer, as applicable, relating to the reports being made available pursuant to Section 8.14(b)(ii)(B),
the Trust Loan or the Property (each an “Inquiry” and collectively, “Inquiries”), and (ii) Privileged
Persons may view Inquiries that have been previously submitted and answered, together with the answers thereto. The Certificate
Administrator may require that Investor Certifications be resubmitted from time to time in accordance with its policies and procedures.
Upon receipt of an Inquiry for the Servicer or the Special Servicer, the Certificate Administrator shall forward the Inquiry to
the Servicer or Special Servicer, as applicable, in each case via email within a commercially reasonable period of time following
receipt thereof. Following receipt of an Inquiry, the Certificate Administrator, the Servicer or the Special Servicer, as applicable,
unless it determines not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Servicer or Special
Servicer shall be by email to the Certificate Administrator. The Certificate Administrator shall post (within a commercially reasonable
period of time following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer to the
Certificate Administrator’s Website. If the Certificate Administrator, the Servicer or the Special Servicer determines, in
its respective sole discretion, that (i) any Inquiry is beyond the scope of the topics described above, (ii) answering
any Inquiry would not be in the best interests of the Trust Fund and/or the Certificateholders and the Companion Loan Holders,
(iii) answering any Inquiry would be in violation of applicable law, the Loan Documents or this Agreement, (iv) answering
any Inquiry would, or is reasonably expected to, result in a waiver of attorney client privilege or the disclosure of attorney
work product, (v) answering any Inquiry would materially increase the duties of, or result in significant additional cost
or expense to, the Certificate Administrator, the Servicer or the Special Servicer, as applicable, (vi) answering any Inquiry
would result in the disclosure of Privileged Information or communications between the Directing Holder or the Risk Retention Consultation
Party and the Special Servicer, (vii) answering any Inquiry is otherwise, for any reason, not advisable or (viii) answering any
Inquiry would violate the applicable confidentiality provisions, it shall not be required to answer such Inquiry and, in the case
of the Servicer or the Special Servicer, shall promptly notify the Certificate Administrator of such determination. The Certificate
Administrator shall notify the Person who submitted such Inquiry in the event that the Inquiry will not be answered. Any notice
by the Certificate Administrator to the Person who submitted an Inquiry that will not be answered shall include the following statement:
“Because the Trust and Servicing Agreement provides that the Certificate Administrator, the Servicer and the Special Servicer
shall not answer an Inquiry if it determines, in its respective sole discretion,

 

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that (i) any Inquiry is beyond the scope
of the topics described in the Trust and Servicing Agreement, (ii) answering any Inquiry would not be in the best interests
of the Trust, the Companion Loan Holders and/or the Certificateholders, (iii) answering any Inquiry would be in violation
of applicable law or the Loan Documents, (iv) answering any Inquiry would, or is reasonably expected to, result in a waiver
of attorney client privilege or the disclosure of attorney work product, (v) answering any Inquiry would materially increase
the duties of, or result in significant additional cost or expense to, the Certificate Administrator, the Servicer or the Special
Servicer, as applicable, (vi) answering any Inquiry would result in the disclosure of Privileged Information or communications
between the Directing Holder or the Risk Retention Consultation Party and the Special Servicer, (vii) answering any Inquiry is
otherwise, for any reason, not advisable or (viii) answering any Inquiry would violate the applicable confidentiality provisions,
no inference should be drawn from the fact that the Certificate Administrator, the Servicer or the Special Servicer has declined
to answer the Inquiry.” Answers posted on the Investor Q&A Forum will be attributable only to the respondent, and shall
not be deemed to be answers from any of the Depositor, the Initial Purchasers or any of their respective Affiliates. None of the
Initial Purchasers, the Depositor, the Trustee, the Servicer, the Special Servicer or any of their respective Affiliates will certify
to any of the information posted in the Investor Q&A Forum and no such party shall have any responsibility or liability for
the content of any such information. The Certificate Administrator shall not be required to post to the Certificate Administrator’s
Website any Inquiry or answer thereto that the Certificate Administrator determines, in its sole discretion, is administrative
or ministerial in nature. The Investor Q&A Forum will not reflect questions, answers and other communications that are not
submitted via the Certificate Administrator’s Website. The Special Servicer shall not post or otherwise disclose direct communications
with the Directing Holder or Risk Retention Consultation Party as part of its response to any Inquiries; provided, that
the Certificate Administrator shall have no obligation to review any inquiry or answer received by it for posting to the Investor
Q&A Forum to determine if such inquiry or answer contains any such direct communication with the Directing Holder or the Risk
Retention Consultation Party, or otherwise to consult with the party from whom such Inquiry or answer is received to confirm the
same, and the Certificate Administrator shall have no liability in connection with its posting to the Investor Q&A Forum of
any Inquiry or answer containing such direct communication. The Investor Q&A Forum will not reflect questions, answers and
other communications that are not submitted via the Certificate Administrator’s Website.

 

(b)              
The Certificate Administrator shall make available to any Certificateholder and any Beneficial Owner, the Investor Registry.
The “Investor Registry” shall be a voluntary service available on the Certificate Administrator’s Website,
where Certificateholders and Beneficial Owners can register and thereafter obtain information with respect to any other Certificateholder
or Beneficial Owner that has so registered. Any person registering to use the Investor Registry will be required to certify that
(a) it is a Certificateholder or a Beneficial Owner and (b) it grants authorization to the Certificate Administrator to make its
name and contact information available on the Investor Registry for at least 45 days from the date of such certification to other
persons entitled to access the Investor Registry. Such Person shall then be asked to enter certain mandatory fields such as the
individual’s name, the company name and email address, as well as certain optional fields such as address, phone, and Class(es)
of Certificates owned. If any Certificateholder or Beneficial Owner notifies the Certificate Administrator that it wishes to be
removed from the Investor Registry (which notice may not be

 

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within 45 days of its registration), the Certificate Administrator
shall promptly remove it from the Investor Registry. The Certificate Administrator will not be responsible for verifying or validating
any information submitted on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information
thereon. The Certificate Administrator may require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

(c)            
Certain information concerning the Trust Loan and the Certificates, including the Distribution Date Statements, CREFC®
Reports and supplemental notices, shall be provided by the Certificate Administrator to certain market data providers and the Depositor
hereby directs the Certificate Administrator to provide same, and upon receipt by the Certificate Administrator from such person
of a certification in the form of Exhibit J-3 hereto, which certification may be submitted electronically via the Certificate
Administrator’s Website. The Depositor hereby consents to the provision of such information to Bloomberg, L.P., Trepp, LLC,
and Intex Solutions, Inc., and the provision of such information shall not constitute a breach of this Agreement by the Certificate
Administrator.

 

(d)           
The 17g-5 Information Provider shall make available, only to the Depositor and the NRSROs, the Rating Agency Q&A Forum
and Document Request Tool. The “Rating Agency Q&A Forum and Document Request Tool” shall be a service available
on the 17g-5 Information Provider’s Website, where the Depositor and the NRSROs may (i) submit inquiries to the Certificate
Administrator relating to the Distribution Date Statement, (ii) submit inquiries electronically to the 17g-5 Information Provider
to forward to the Servicer or the Special Servicer, as applicable, relating to the reports prepared by such parties, the Whole
Loan or the Property (each such submission identified in sub-clauses (i) and (ii) hereof, a “Rating Agency Inquiry”)
or (iii) view Rating Agency Inquiries that have been previously submitted and answered, together with the responses thereto.
Upon receipt of a Rating Agency Inquiry for the Servicer, the Special Servicer or the Certificate Administrator, the 17g-5 Information
Provider shall forward the Rating Agency Inquiry to the appropriate person, in each case within a commercially reasonable period
of time following receipt thereof. Following receipt of a Rating Agency Inquiry from the 17g-5 Information Provider, the Certificate
Administrator, the Servicer or the Special Servicer, as applicable, unless it determines not to answer such Rating Agency Inquiry
as provided below, shall reply by email to the 17g-5 Information Provider. The 17g-5 Information Provider shall post (within a
commercially reasonable period of time following receipt of such response) such Rating Agency Inquiry and the related response
(or such reports, as applicable) to the Rating Agency Q&A Forum and Document Request Tool. If the Certificate Administrator,
the Servicer or the Special Servicer determines, in its respective sole discretion, that (I) answering any Rating Agency Inquiry
would be in violation of applicable law, the Accepted Servicing Practices, this Agreement or the Loan Documents, (II) answering
any Rating Agency Inquiry would or is reasonably expected to result in a waiver of an attorney-client privilege with, or the disclosure
of attorney work product of, any counsel engaged by the Certificate Administrator, the Servicer or the Special Servicer, as applicable,
or (III) (A) answering any Rating Agency Inquiry would materially increase the duties of, or result in significant additional
cost or expense to, the Certificate Administrator, the Servicer or the Special Servicer, as applicable, and (B) the Certificate
Administrator, the Servicer or the Special Servicer, as applicable, determines in accordance with the Accepted Servicing Practices
(or in good faith, in the case of the Certificate Administrator) that the performance of such duties or the payment of such costs
and expenses is beyond the scope of its duties in its capacity as Certificate

 

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Administrator, Servicer or Special Servicer, as applicable,
under this Agreement, it shall not be required to answer such Rating Agency Inquiry and shall promptly notify the 17g-5 Information
Provider by email of such determination. The 17g-5 Information Provider shall promptly thereafter post the Rating Agency Inquiry
with the reason it was not answered to the Rating Agency Q&A Forum and Document Request Tool. The 17g-5 Information Provider
will not be liable for the failure by any other such Person to answer any such Rating Agency Inquiry. Questions posted on the Rating
Agency Q&A Forum and Document Request Tool shall not be attributed to the submitting Depositor or NRSRO. Answers posted on
the Rating Agency Q&A Forum and Document Request Tool shall be attributable only to the respondent, and shall not be deemed
to be answers from any other person. None of the Initial Purchasers, the Depositor, or any of their respective Affiliates shall
certify to any of the information posted in the Rating Agency Q&A Forum and Document Request Tool and no such party shall have
any responsibility or liability for the content of any such information. The 17g-5 Information Provider shall not be required to
post to the 17g-5 Information Provider’s Website any Rating Agency Inquiry or answer thereto that the 17g-5 Information Provider
determines, in its sole discretion, is administrative or ministerial in nature. The Rating Agency Q&A Forum and Document Request
Tool will not reflect questions, answers and other communications that are not submitted via the 17g-5 Information Provider’s
Website.

 

5.                 
THE CERTIFICATES

 

5.1.            
The Certificates. (a)  The Certificates shall be issued in substantially the respective forms set forth
as Exhibits A-1 through A-15 hereto, with such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by this Agreement or as may, in the reasonable judgment of the Certificate Registrar, be necessary,
appropriate or convenient to comply, or facilitate compliance, with applicable laws, and may have such letters, numbers or other
marks of identification and such legends or endorsements placed thereon as may be required by law, or as may, consistently herewith,
be determined by the officers executing such Certificates, as evidenced by their execution thereof.

 

(b)          
The Certificates of each Class of Sequential Pay Certificates shall be issued in minimum denominations of $100,000 and in
integral multiples of $1,000 in excess thereof. If the Initial Certificate Balance of any Class of Certificates (other than the
Class R or the Class X Certificates) does not equal an integral multiple of $1,000, then a single additional Certificate of such
Class may be issued in a minimum denomination of authorized Initial Certificate Balance that includes the excess of (i) the
Initial Certificate Balance of such Class over (ii) the largest integral multiple of $1,000 that does not exceed such amount.
The Class X Certificates shall be issued, maintained and transferred only in minimum denominations of authorized initial notional
amount of not less than $1,000,000 and in integral multiples of $1 in excess thereof. The Certificates of each Class of Class V
Certificates and the Class V2 Certificates will be issuable in one or more Definitive Certificates, in minimum denominations of
authorized Certificate Balance as described in the succeeding table, and multiples of $1 in excess thereof (or such lesser amount
if the Certificate Balance is not a multiple of $1). The Class R Certificates shall be issued, maintained and transferred
in minimum percentage interests of 10% of such Class R Certificates and in integral multiples of 1% in excess thereof.

 

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(c)               
One authorized signatory shall sign the Certificates for the Certificate Registrar by manual or facsimile signature. If
an authorized signatory whose signature is on a Certificate no longer holds that office at the time the Certificate Registrar countersigns
the Certificate, the Certificate shall be valid nevertheless. A Certificate shall not be valid until an authorized signatory of
the Certificate Registrar (who may be the same officer who executed the Certificate) manually countersigns the Certificate. The
signature shall be conclusive evidence that the Certificate has been executed and countersigned under this Agreement.

 

5.2.              Form and Registration. (a)  Each Class of the Certificates (other than the RR Interest and the Class R
Certificates) sold to an institution that is a non-U.S. Securities Person in “offshore transactions” (as defined in
Rule 902(h) of Regulation S) in reliance on Regulation S shall initially be represented by a temporary global certificate
in definitive, fully registered form without interest coupons, substantially in the applicable form set forth as an exhibit hereto
(each a “Temporary Regulation S Global Certificate”), which shall be deposited on the Closing Date on behalf
of the purchasers of the Certificates represented thereby with the Certificate Registrar, at its principal trust office, as custodian,
for the Depository, and registered in the name of the Depository or the nominee of the Depository for the account of designated
agents holding on behalf of the Euroclear System (“Euroclear”) and/or Clearstream Banking, société
anonyme (“Clearstream”). Prior to the expiration of the 40-day period commencing on the later of the commencement
of the offering and the Closing Date (the “Restricted Period”), beneficial interests in each Temporary Regulation S
Global Certificate may be held only through Euroclear or Clearstream. After the expiration of the Restricted Period, a beneficial
interest in a Temporary Regulation S Global Certificate may be exchanged for an interest in the related permanent global certificate
of the same Class (each a “Regulation S Global Certificate”) in the applicable form set forth as an exhibit
hereto in accordance with the procedures set forth in Section 5.3(f). During the Restricted Period, distributions due
in respect of a beneficial interest in a Temporary Regulation S Global Certificate shall only be made upon delivery to the
Certificate Registrar by Euroclear or Clearstream, as applicable, of a Non-U.S. Beneficial Ownership Certification. After the expiration
of the Restricted Period, distributions due in respect of any beneficial interests in a Temporary Regulation S Global Certificate
shall not be made to the holders of such beneficial interests unless an exchange for a beneficial interest in the Regulation S
Global Certificate of the same Class is improperly withheld or refused. The aggregate Certificate Balance of a Temporary Regulation S
Global Certificate or a Regulation S Global Certificate may from time to time be increased or decreased by adjustments made
on the records of the Certificate Registrar, as custodian for the Depository, as hereinafter provided.

 

On the Closing Date,
the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate Administrator shall
deliver to the Certificate Registrar the Regulation S Global Certificates, which shall be held by the Certificate Registrar
for purposes of effecting the exchanges contemplated by the preceding paragraph.

 

(b)              
Certificates of each Class (other than the Class R Certificates and the RR Interest) offered and sold to QIBs in reliance
on Rule 144A under the Act (“Rule 144A”) shall be represented by a single, global certificate in definitive,
fully registered form without interest coupons, substantially in the applicable form set forth as an exhibit hereto (each, a “Rule 144A
Global Certificate” and, together with the Temporary Regulation S Global Certificates and the Regulation S
Global Certificates, the “Global Certificates”), which shall be deposited with the

 

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Certificate Registrar or
an agent of the Certificate Registrar, as custodian for the Depository, and registered in the name of the Depository or a nominee
of the Depository. The aggregate Certificate Balance of a Rule 144A Global Certificate may from time to time be increased
or decreased by adjustments made on the records of the Certificate Registrar, as custodian for the Depository, as hereinafter provided.

 

(c)               
Certificates of each Class that are initially offered and sold to investors that are Institutional Accredited Investors
that are not QIBs and the Class R Certificates (the “Non-Book Entry Certificates”) shall be in the form of Definitive
Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall be registered in the name of such
investors or their nominees by the Certificate Registrar who shall deliver the certificates for such Non-Book Entry Certificates
to the respective beneficial owners or owners; provided, that prior to such transfer the investor executes and delivers
to the Certificate Registrar an Investment Representation Letter.

 

(d)              
Owners of beneficial interests in Global Certificates of any Class shall not be entitled to receive physical delivery of
certificated Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is no
longer willing or able to discharge properly its responsibilities as depository with respect to the Global Certificates of such
Class or ceases to be a Clearing Agency, and the Certificate Registrar and the Depository are unable to locate a qualified successor
within 90 days of such notice or (ii) the Certificate Administrator or the Trustee has instituted or has been directed to
institute any judicial proceeding to enforce the rights of the Holders of such Class and the Certificate Administrator or the Trustee,
as the case may be, has been advised by counsel that in connection with such proceeding it is necessary or appropriate for the
Certificate Registrar to obtain possession of the Certificates of such Class; provided, however, that under no circumstances
will certificated Certificates be issued to beneficial owners of a Temporary Regulation S Global Certificate. Upon notice
of the occurrence of any of the events described in clause (i) or (ii) above with respect to any Certificates of a Class that
are in the form of Global Certificates and upon surrender by the Depository of any Global Certificate of such Class and receipt
from the Depository of instructions for reregistration, the Certificate Registrar shall issue Certificates of such Class in the
form of Definitive Certificates (bearing, in the case of a Definitive Certificate issued for a Rule 144A Global Certificate,
the same legends regarding transfer restrictions borne by such Global Certificate), and thereafter the Certificate Registrar shall
recognize the holders of such Definitive Certificates as Certificateholders under this Agreement.

 

5.3.              
Registration of Transfer and Exchange of Certificates. (a)  The Certificate Administrator shall keep or
cause to be kept at the Corporate Trust Office books (the “Certificate Register”) in which, subject to such
reasonable regulations as it may prescribe, the Certificate Administrator shall provide for the registration of Certificates and
of transfers and exchanges of Certificates as herein provided (the Certificate Administrator, in such capacity, being the “Certificate
Registrar”). In such capacity, the Certificate Administrator shall be responsible for, among other things, (i) maintaining
the Certificate Register and a record of the aggregate holdings of Certificates of each Class represented by a Temporary Regulation S
Global Certificate, a Regulation S Global Certificate and a Rule 144A Global Certificate and accepting Certificates for
exchange and registration of transfer and (ii) transmitting to the

 

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Depositor, the Trustee, the Servicer and the Special Servicer
any notices from the Certificateholders.

 

(b)              
Subject to the restrictions on transfer set forth in this Article 5, upon surrender for registration of transfer of any
Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees,
one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

(c)               
Rule 144A Global Certificate to Temporary Regulation S Global Certificate. If a holder of a beneficial
interest in the Rule 144A Global Certificate deposited with the Certificate Registrar as custodian for the Depository wishes
at any time to exchange its interest in such Rule 144A Global Certificate for an interest in the Temporary Regulation S
Global Certificate of the same Class, or to transfer its interest in such Rule 144A Global Certificate to a Person who is
required to take delivery thereof in the form of an interest in the Temporary Regulation S Global Certificate of the same
Class, such holder may, subject to the rules and procedures of the Depository, exchange or cause the exchange of such interest
for an equivalent beneficial interest in such Temporary Regulation S Global Certificate. Upon receipt by the Certificate Registrar,
as registrar, at its office designated in Section 5.7 hereof, of (1) instructions given in accordance with the
Depository’s procedures from a Depository Participant directing the Certificate Registrar to credit, or cause to be credited,
a beneficial interest in the Temporary Regulation S Global Certificate in an amount equal to the beneficial interest in the
Rule 144A Global Certificate to be exchanged, (2) a written order given in accordance with the Depository’s procedures
containing information regarding the Euroclear or Clearstream account to be credited with such increase and the name of such account
and (3) a certificate in the form of Exhibit C hereto given by the holder of such beneficial interest stating
that the transfer of such interest has been made in compliance with the transfer restrictions applicable to the Global Certificates
and pursuant to and in accordance with Regulation S, then the Certificate Registrar shall instruct the Depository to reduce,
or cause to be reduced, the Certificate Balance of the Rule 144A Global Certificate and to increase, or cause to be increased,
the Certificate Balance of the Temporary Regulation S Global Certificate by the aggregate Certificate Balance of the beneficial
interest in the Rule 144A Global Certificate to be exchanged, to credit or cause to be credited to the account of the Person
specified in such instructions (who shall be the agent member of Euroclear or Clearstream, or both) a beneficial interest in the
Temporary Regulation S Global Certificate equal to the reduction in the Certificate Balance of the Rule 144A Global Certificate,
and to debit, or cause to be debited, from the account of the Person making such exchange or transfer the beneficial interest in
the Rule 144A Global Certificate that is being exchanged or transferred.

 

(d)              
Rule 144A Global Certificate to Regulation S Global Certificate. If a holder of a beneficial interest in
the Rule 144A Global Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time
to exchange its interest in such Rule 144A Global Certificate for an interest in the Regulation S Global Certificate
of the same Class, or to transfer its interest in such Rule 144A Global Certificate to a Person who is required to take delivery
thereof in the form of an interest in a Regulation S Global Certificate, such holder may, subject to the rules and procedures
of the Depository, exchange, or cause the exchange of, such interest for an equivalent beneficial interest in such Regulation S
Global Certificate. Upon receipt by the Certificate Registrar, as registrar, at its office designated in

 

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Section 5.7
hereof, of (1) instructions given in accordance with the Depository’s procedures from a Depository Participant directing
the Certificate Registrar to credit or cause to be credited a beneficial interest in the Regulation S Global Certificate in
an amount equal to the beneficial interest in the Rule 144A Global Certificate to be exchanged, (2) a written order given
in accordance with the Depository’s procedures containing information regarding the participant account of the Depository
to be credited with such increase and (3) a certificate in the form of Exhibit D hereto given by the holder of
such beneficial interest stating (A) that the transfer of such interest has been made in compliance with the transfer restrictions
applicable to the Global Certificates and pursuant to and in accordance with Regulation S, (B) that the Certificate being
transferred is not a “restricted security” as defined in Rule 144 under the Act or (C) that the transferee
is otherwise entitled to hold its interest in the applicable Certificates in the form of an interest in the Regulation S Global
Certificate, without any registration of such Certificates under the Act (in which case such certificate shall enclose an Opinion
of Counsel to such effect and such other documents as the Certificate Registrar may reasonably require), then the Certificate Registrar
shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Global Certificate
and to increase, or cause to be increased, the Certificate Balance of the Regulation S Global Certificate by the aggregate
Certificate Balance of the beneficial interest in the Rule 144A Global Certificate to be exchanged, to credit or cause to
be credited to the account of the Person specified in such instructions a beneficial interest in the Regulation S Global Certificate
equal to the reduction in the Certificate Balance of the Rule 144A Global Certificate, and to debit, or cause to be debited,
from the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Global Certificate
that is being exchanged or transferred.

 

(e)               
Temporary Regulation S Global Certificate or Regulation S Global Certificate to Rule 144A Global Certificate.
If a holder of a beneficial interest in a Temporary Regulation S Global Certificate or Regulation S Global Certificate
deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest in such Temporary
Regulation S Global Certificate or Regulation S Global Certificate for an interest in the Rule 144A Global Certificate
of the same Class, or to transfer its interest in such Temporary Regulation S Global Certificate or Regulation S Global
Certificate to a Person who is required to take delivery thereof in the form of an interest in the Rule 144A Global Certificate,
such holder may, subject to the rules and procedures of Euroclear or Clearstream, as the case may be, and the Depository, exchange
or cause the exchange of such interest for an equivalent beneficial interest in the Rule 144A Global Certificate of the same
Class. Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.7 hereof, of
(1) instructions from Euroclear or Clearstream, if applicable, and the Depository, directing the Certificate Registrar, as
registrar, to credit or cause to be credited a beneficial interest in the Rule 144A Global Certificate equal to the beneficial
interest in the Temporary Regulation S Global Certificate or Regulation S Global Certificate to be exchanged, such instructions
to contain information regarding the participant account with the Depository to be credited with such increase, (2) with respect
to a transfer of an interest in the Regulation S Global Certificate, information regarding the participant account of the
Depository to be debited with such decrease and (3) with respect to a transfer of an interest in the Temporary Regulation S
Global Certificate (but not the Regulation S Global Certificate) for an interest in the Rule 144A Global Certificate,
a certificate in the form of Exhibit E hereto given by the holder of such beneficial interest and stating that the
Person transferring such interest in the Temporary Regulation S Global Certificate reasonably believes that the Person acquiring

 

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such interest in the Rule 144A Global Certificate is a QIB and is obtaining such beneficial interest in a transaction meeting
the requirements of Rule 144A, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced,
the Certificate Balance of the Temporary Regulation S Global Certificate or Regulation S Global Certificate and to increase,
or cause to be increased, the Certificate Balance of the Rule 144A Global Certificate by the aggregate Certificate Balance
of the beneficial interest in the Temporary Regulation S Global Certificate or Regulation S Global Certificate to be
exchanged, and the Certificate Registrar shall instruct the Depository, concurrently with such reduction, to credit, or cause to
be credited, to the account of the Person specified in such instructions, a beneficial interest in the Rule 144A Global Certificate
equal to the reduction in the Certificate Balance of the Temporary Regulation S Global Certificate or Regulation S Global
Certificate and to debit, or cause to be debited, from the account of the Person making such transfer the beneficial interest in
the Temporary Regulation S Global Certificate or Regulation S Global Certificate that is being transferred.

 

(f)               
Temporary Regulation S Global Certificate to Regulation S Global Certificate. Interests in a Temporary
Regulation S Global Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as the case
may be, a certificate (a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear or Clearstream,
as applicable, has received a certificate substantially in the form of Exhibit F hereto from the holder of a beneficial
interest in such Temporary Regulation S Global Certificate, shall be exchanged after the Restricted Period, for interests
in the Regulation S Global Certificate of the same Class. The Certificate Registrar shall effect such exchange by delivering
to the Depository for credit to the respective accounts of such holders, a duly executed and authenticated Regulation S Global
Certificate, representing the aggregate Certificate Balance of interests in the Temporary Regulation S Global Certificate
initially exchanged for interests in the Regulation S Global Certificate. The delivery to the Certificate Registrar by Euroclear
or Clearstream of the certificate or certificates referred to above may be relied upon by the Depositor and the Certificate Registrar
as conclusive evidence that the certificate or certificates referred to therein has or have been delivered to Euroclear or Clearstream
pursuant to the terms of this Agreement and the Temporary Regulation S Global Certificate. Upon any exchange of interests
in the Temporary Regulation S Global Certificate for interests in the Regulation S Global Certificate, the Certificate
Registrar shall endorse the Temporary Regulation S Global Certificate to reflect the reduction in the Certificate Balance
represented thereby by the amount so exchanged and shall endorse the Regulation S Global Certificate to reflect the corresponding
increase in the amount represented thereby. Until so exchanged in full and except as provided therein, the Temporary Regulation S
Global Certificate, and the Certificates evidenced thereby, shall in all respects be entitled to the same benefits under this Agreement
as the Regulation S Global Certificate and Rule 144A Global Certificate authenticated and delivered hereunder.

 

(g)              
Non-Book Entry Certificate to Global Certificate. If a holder of a Non-Book Entry Certificate (other than a Class
R Certificate) wishes at any time to exchange its interest in such Non-Book Entry Certificate for an interest in a Global Certificate
of the same Class, or to transfer all or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery thereof
in the form of an interest in a Global Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream,
if applicable, and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial
interest in the appropriate Global Certificate of the same Class. Upon receipt by the Certificate

 

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Registrar, as registrar, at its
office designated in Section 5.7 hereof, of (1) such Non-Book Entry Certificate, duly endorsed as provided herein,
(2) instructions from such holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a
beneficial interest in the applicable Global Certificate equal to the portion of the Certificate Balance of the Non-Book Entry
Certificate to be exchanged, such instructions to contain information regarding the participant account with the Depository to
be credited with such increase and (3) a certificate in the form of Exhibit G hereto (in the event that the applicable
Global Certificate is the Temporary Regulation S Global Certificate), in the form of Exhibit H hereto (in the
event that the applicable Global Certificate is the Regulation S Global Certificate) or in the form of Exhibit I
hereto (in the event that the applicable Global Certificate is the Rule 144A Global Certificate), then the Certificate Registrar,
as registrar, shall cancel, or cause to be canceled, all or part of such Non-Book Entry Certificate, shall, if applicable, execute,
authenticate and deliver to the transferor a new Non-Book Entry Certificate equal to the aggregate Certificate Balance of the portion
retained by such transferor and shall instruct the Depository to increase, or cause to be increased, such Global Certificate by
the aggregate Certificate Balance of the portion of the Non-Book Entry Certificate to be exchanged and to credit, or cause to be
credited, to the account of the Person specified in such instructions a beneficial interest in the applicable Global Certificate
equal to the Certificate Balance of the portion of the Non-Book Entry Certificate so canceled.

 

(h)              
Non-Book Entry Certificates on Initial Issuance Only. Subject to the issuance of Definitive Certificates, if and
when permitted by Section 5.2(d), and no Non-Book Entry Certificate shall be issued to a transferee of an interest
in any Rule 144A Global Certificate, Temporary Regulation S Global Certificate or Regulation S Global Certificate
(or any portion thereof).

 

(i)                
Transfers of RR Interest. At all times, if a transfer of all or a portion of the RR Interest is to be made, then
the Certificate Registrar shall refuse to register such transfer unless it receives (and, upon receipt, may conclusively rely upon)
(i) a certification from such Certificateholder’s prospective transferee substantially in the form attached hereto as Exhibit
M-4, which such certification must be countersigned by the Retaining Sponsor and Depositor with a medallion stamp guarantee
of the Retaining Sponsor and (ii) a certification from the Certificateholder desiring to effect such transfer substantially in
the form attached hereto as Exhibit M-5, which such certification must be countersigned by the Retaining Sponsor and the
Depositor with a medallion stamp guarantee of the Retaining Sponsor. Upon receipt of the foregoing certifications, the Certificate
Registrar shall, subject to Section 5.2(e) and Section 5.3(a), reflect all or any such portion of the RR Interest
in the name of the prospective transferee.

 

(j)                
Other Exchanges. In the event that a Global Certificate is exchanged for a Definitive Certificate, such Certificates
may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of clauses (c)
through (f) above (including the certification requirements intended to ensure that such transfers comply with Rule 144A or
Regulation S under the Act, at the case may be) and such other procedures as may from time to time be adopted by the Certificate
Registrar.

 

(k)               
Restricted Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates,
transfers of interests in the Temporary Regulation S

 

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Global Certificate to U.S. persons (as defined in Regulation S)
shall be limited to transfers made pursuant to the provisions of clause (e) above.

 

(l)                
If Certificates are issued upon the transfer, exchange or replacement of Certificates bearing a restrictive legend relating
to compliance with the Act, or if a request is made to remove such legend on Certificates, the Certificates so issued shall bear
the restrictive legend, or such legend shall not be removed, as the case may be, unless there is delivered to the Certificate Registrar
such satisfactory evidence, which may include an Opinion of Counsel that neither such legend nor the restrictions on transfer set
forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A, Rule 144 or Regulation S
under the Act or, with respect to Non-Book Entry Certificates, that such Certificates are not “restricted” within the
meaning of Rule 144 under the Act. Upon provision of such satisfactory evidence, the Certificate Registrar shall authenticate
and deliver Certificates that do not bear such legend.

 

(m)             
All Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the
Certificate Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(n)              
The Class R Certificate may not be purchased by or transferred to any prospective purchaser or transferee that is or will
be an employee benefit plan or other plan subject to the fiduciary responsibility provisions of ERISA or Section 4975 of the Code
or a governmental plan (as defined in Section 3(32) of ERISA) or other plan that is subject to any federal, state or local law
that is, to a material extent, similar to the fiduciary responsibility provisions of ERISA or Section 4975 of the Code (“Similar
Law”) (each, a “Plan”), or any person acting on behalf of any such Plan or using the assets of a Plan
to purchase the Class R Certificate. Each prospective transferee of the Class R Certificate shall deliver to the transferor, the
Certificate Registrar and the Certificate Administrator a representation letter, substantially in the form of Exhibit M-3,
stating that the prospective transferee is not a person described in the first sentence of this paragraph. No Class A, Class X,
Class B, Class C, Class D, Class V-ABC, Class V-D or Class V2 Certificates may be purchased by or transferred to any prospective
purchaser or transferee that is or will be a Plan, or any person acting on behalf of any such plan or using the assets of a Plan
to purchase such Certificate, unless (A) the purchaser is an accredited investor (as defined in Rule 501(a)(1) under the Act) and
(B) the acquisition, holding and disposition of such Certificate by the purchaser will not constitute or otherwise result in a
non-exempt prohibited transaction under ERISA or Section 4975 of the Code (or a similar non-exempt violation of Similar Law).
Any attempted or purported transfer in violation of these transfer restrictions shall be null and void ab initio and shall
vest no rights in any purported transferee and shall not relieve the transferor of any obligations with respect to the applicable
Certificates.

 

(o)              
Each Person who has or acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such
Residual Ownership Interest to have agreed to be bound by the following provisions and the rights of each Person acquiring any
Residual Ownership Interest are expressly subject to the following provisions:

 

(i)               
 Each Person acquiring or holding any Residual Ownership Interest shall be a Permitted Transferee and shall not acquire or
hold such Residual Ownership Interest

 

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as agent (including a broker, nominee or other middleman) on behalf of any Person that is
not a Permitted Transferee. Any such Person shall promptly notify the Certificate Registrar of any change or impending change in
its status (or the status of the beneficial owner of such Residual Ownership Interest) as a Permitted Transferee. Any acquisition
of a Residual Ownership Interest by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person
who is not a Permitted Transferee shall be void ab initio and of no effect, and the immediately preceding owner who was
a Permitted Transferee shall be restored to registered and beneficial ownership of the Residual Ownership Interest as soon and
as fully as possible.

 

(ii)               
No Residual Ownership Interest may be Transferred, and no such transfer shall be registered in the Certificate Register,
without the express written consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the transfer,
and such proposed transfer shall not be effective, without such consent with respect thereto. In connection with any proposed transfer
of any Residual Ownership Interest, the Certificate Registrar shall, as a condition to such consent, (x) require the proposed
transferee to deliver, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor, an
affidavit in substantially the form attached as Exhibit M-1 (a “Transferee Affidavit”) of the proposed
transferee (A) that such proposed transferee is a Permitted Transferee and (B) stating that (1) the proposed transferee
historically has paid its debts as they have come due and intends to do so in the future, (2) the proposed transferee understands
that, as the holder of a Residual Ownership Interest, it may incur liabilities in excess of cash flows generated by the residual
interest, (3) the proposed transferee intends to pay taxes associated with holding the Residual Ownership Interest as they
become due, (4) the proposed transferee will not cause income with respect to the Residual Ownership Interest to be attributable
to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of such proposed transferee
or any other U.S. Person, (5) the proposed transferee will not transfer the Residual Ownership Interest to any Person that
does not provide a Transferee Affidavit or as to which the proposed transferee has actual knowledge that such Person is not a Permitted
Transferee or is acting as an agent (including a broker, nominee or other middleman) for a Person that is not a Permitted Transferee,
and (6) the proposed transferee expressly agrees to be bound by and to abide by the provisions of this Section 5.3(o)
and (y) other than in connection with the initial issuance of a Class R Certificate, require a statement from the proposed transferor
substantially in the form attached as Exhibit M-2 (the “Transferor Letter”), that the proposed transferor
has no actual knowledge that the proposed transferee is not a Permitted Transferee and has no actual knowledge or reason to know
that the proposed transferee’s statements in the Transferee Affidavit are false.

 

(iii)               
Notwithstanding the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if
a Responsible Officer of the Certificate Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee,
no transfer to such proposed transferee shall be effected and such proposed transfer shall not be registered on the Certificate
Register; provided, however, that the Certificate Registrar shall not be required to conduct any independent investigation
to determine whether a proposed transferee is a Permitted Transferee. Upon notice to the Certificate Registrar

 

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that there has occurred
a transfer to any Person that is a Disqualified Organization or an agent thereof (including a broker, nominee or middleman) in
contravention of the foregoing restrictions, and in any event not later than 60 days after a request for information from the transferor
of such Residual Ownership Interest or such agent, the Certificate Registrar and the Certificate Administrator agree to furnish
to the IRS and the transferor of such Residual Ownership Interest or such agent such information necessary to the application of
Section 860E(e) of the Code as may be required by the Code, including, but not limited to, the present value of the total
anticipated excess inclusions with respect to such Class R Certificate (or portion thereof) for periods after such transfer.
At the election of the Certificate Registrar, the Certificate Registrar may charge a reasonable fee for computing and furnishing
such information to the transferor or to such agent referred to above; provided, however, that such Persons shall
in no event be excused from furnishing such information.

 

(iv)             
The Class R Certificates may only be issued as Definitive Certificates, and transferred to and owned by QIBs.

 

(p)              
Each beneficial owner of a Certificate or any interest therein that is a Plan subject to Title I of ERISA or Section 4975
of the Code (an “ERISA Plan”) or is acting on behalf of or using the assets of an ERISA Plan will be deemed
to have represented and warranted that (i) none of the Depositor, any Initial Purchaser, the Trustee, the Certificate Administrator,
the Servicer, the Special Servicer or any of their respective affiliated entities, has provided any investment advice within the
meaning of Section 3(21) of ERISA (and regulations thereunder) to the ERISA Plan, or to any fiduciary or other person making the
decision to invest the assets of the ERISA Plan (“Fiduciary”), in connection with its acquisition of Certificates,
and (ii) the Fiduciary is exercising its own independent judgment in evaluating the transaction.

 

5.4.              
Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate
and (b) there is delivered to the Certificate Registrar such security or indemnity as may be required by it to save it harmless,
then, in the absence of actual notice to the Certificate Registrar that such Certificate has been acquired by a bona fide purchaser,
the Certificate Registrar shall execute, authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed,
lost or stolen Certificate, a new Certificate of like tenor and interest in the Trust Fund. In connection with the issuance of
any new Certificate under this Section 5.4, the Certificate Registrar may require the payment of a sum sufficient to
cover any expenses (including the fees and expenses of the Certificate Registrar) connected therewith. Any replacement Certificate
issued pursuant to this Section 5.4 shall constitute complete and indefeasible evidence of ownership in the Trust Fund,
as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

 

5.5.             
Persons Deemed Owners. The Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Certificate
Registrar, and any agent of any of them, may treat the Person in whose name any Certificate is registered as the owner of such
Certificate for the purpose of receiving distributions as provided in this Agreement and for all other purposes whatsoever, and
neither the Servicer, the Special Servicer, the Certificate

 

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Administrator, the Trustee, the Certificate Registrar, nor any agent
of any of them shall be affected by any notice to the contrary; provided, however, that to the extent that a party
to this Agreement responsible for distributing any report, statement or other information required to be distributed to Certificateholders
has been provided an Investor Certification, such party to this Agreement shall distribute such report, statement or other information
to such beneficial owner (or prospective transferee).

 

5.6.              
Access to List of Certificateholders’ Names and Addresses; Special Notices. The Certificate Registrar shall
maintain in as current form as is reasonably practicable the most recent list available to it of the names and addresses of the
Certificateholders. If any Certificateholder that has provided an Investor Certification (a) requests in writing from the
Certificate Registrar a list of the names and addresses of Certificateholders, (b) states that such Certificateholder desires
to communicate with other Certificateholders with respect to its rights under this Agreement or under the Certificates and (c) provides
a copy of the communication which such Certificateholder proposes to transmit, then the Certificate Registrar shall, within 10
Business Days after the receipt of such request, afford such Certificateholder access during normal business hours to a current
list of the Certificateholders. Every Certificateholder, by receiving and holding a Certificate, agrees that the Certificate Registrar
and the Certificate Administrator shall not be held accountable by reason of the disclosure of any such information as to the list
of the Certificateholders hereunder, regardless of the source from which such information was derived. The Servicer, the Special
Servicer and the Depositor shall be entitled to a list of the names and addresses of Certificateholders from time to time upon
request therefor.

 

Upon the written request
of any Certificateholder or Beneficial Owner that (a) has provided an Investor Certification, (b) states that such Certificateholder
or Beneficial Owner desires the Certificate Administrator to transmit a notice to all Certificateholders or Beneficial Owner stating
that such Certificateholder wishes to be contacted by other Certificateholders or Beneficial Owners, setting forth the relevant
contact information and briefly stating the reason for the requested contact (a “Special Notice”) and (c) provides
a copy of the Special Notice which such Certificateholder or Beneficial Owner proposes to transmit, the Certificate Administrator
shall post such Special Notice to the Certificate Administrator’s Website pursuant to Section 8.14(b) and shall
mail such Special Notice to all Certificateholders at their respective addresses appearing on the Certificate Register. The costs
and expenses of the Certificate Administrator associated with delivering any such Special Notice shall be borne by the party requesting
such Special Notice. Every Certificateholder and Beneficial Owner, by receiving and holding or beneficially owning a Certificate,
agrees that neither the Certificate Administrator nor the Certificate Registrar shall be held accountable by reason of the disclosure
of any such Special Notice to Certificateholders, regardless of the information set forth in such Special Notice.

 

5.7.          
   Maintenance of Office or Agency. The Certificate Registrar shall maintain or cause to be
maintained an office or offices or agency or agencies where Certificates may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Certificate Registrar in respect of the Certificates and this Agreement
may be served. The Certificate Registrar initially designates its office at Wells Fargo Bank, National Association, 600 South
4th Street, 7th Floor, MAC N9300-070, Minneapolis, Minnesota 55479 as its office for such purposes. The
Certificate Registrar shall give prompt written notice to the

 

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Certificateholders and the Borrower of any change in the
location of the Certificate Register or any such office or agency.

 

5.8.              
Exchanges of Exchangeable Groups of Certificates.

 

(a)               
The Grantor Trust shall be maintained by the Certificate Administrator, on behalf of the Trustee, in part for the benefit
of the Holders of the Certificates (other than the Class R Certificates). The assets of the Grantor Trust held for the benefit
of the Holders of the Certificates (other than the Class R Certificates) shall consist of the Regular Interests. The Regular Interests
shall be held by the Certificate Administrator for the benefit of the Trustee. At all times, each Regular Certificate shall represent
beneficial ownership interests in the related Class Percentage Interest of the related Regular Interest, in each case, with the
corresponding alphabetical and numerical designation. At all times, the Class V-ABC Certificates shall represent beneficial ownership
interests in the Class V-ABC Percentage Interest of the Class A, Class B, Class C and Class X Regular Interests. At all times,
the Class V-D Certificates shall represent beneficial ownership interests in the Class V-D Percentage Interest of the Class
D Regular Interests. At all times, the Class V2 Certificates shall represent beneficial ownership interests in the Class V2 Percentage
Interest of the Regular Interests.

 

(b)              
On the Closing Date, the Grantor Trust shall issue the several Classes of Certificates (other than the Class R Certificates).
Each Class of Certificates (other than the Class R Certificates) shall be initially issued on the Closing Date with the respective
aggregate Initial Certificate Balance or Initial Notional Amount, as applicable, set forth for such Class in the Introductory Statement.

 

(c)               
Following the Closing Date and subject to the conditions set forth in Section 5.8(d), if a Certificateholder holds
a uniform Tranche Percentage Interest in an Exchangeable Group of Certificates, then such Exchangeable Group of Certificates may
be exchanged on the books of the Depository for the same Tranche Percentage Interest in any other Exchangeable Group of Certificates
as the Certificates to be surrendered. The Certificate(s) identified in the table below under “Exchangeable Group 1”,
“Exchangeable Group 2” and “Exchangeable Group 3” are each an “Exchangeable Group” of
Certificates.

  

	 
	
        Exchangeable
Groups

	
        Exchangeable
Group 1
	
        Exchangeable
Group 2
	
        Exchangeable
Group 3

	Class A	Class V-ABC	Class V2
	Class X
	
        Class B

        

	Class C
	Class D	Class V-D

 

For the avoidance of
doubt, by way of example, the holder of a uniform Tranche Percentage Interest of each Class of Regular Certificates (collectively
referred to in the table above as “Exchangeable Group 1”) may exchange such Certificates for the same Tranche

 

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Percentage
Interest in either (i) the Class V-ABC and Class V-D Certificates (collectively referred to in the table above as “Exchangeable
Group 2”) or (ii) the Class V2 Certificates (referred to in the table above as “Exchangeable Group 3”).

 

(d)              
An exchange of an Exchangeable Group of Certificates may only occur if the Certificates being surrendered or received in
such exchange have denominations no smaller than the minimum Denominations set forth in Section 5.1(b). There shall be no
limitation on the number of exchanges of Exchangeable Groups of Certificates authorized pursuant to this Section 5.8. In
addition, the Depositor shall have the right to make or cause exchanges on the Closing Date and shall deliver instructions substantially
in the form of Exhibit R to the Certificate Administrator along with the original Certificate exchanged (unless such exchanged
Certificate was deemed issued).

 

(e)               
For any exchange other than any exchange effectuated on the Closing Date by the Depositor pursuant to Section 5.8(d),
at the request of the Holder of a uniform Tranche Percentage Interest of an Exchangeable Group of Certificates, and upon the surrender
of the Certificates evidencing such Tranche Percentage, the Certificate Administrator, on behalf of the Trustee, shall deliver
(by the means set forth in the penultimate sentence of Section 5.8(g)) the corresponding Exchangeable Group of Certificates
to which such Certificateholder is entitled as set forth in Section 5.8(c).

 

(f)               
In connection with any exchange of an Exchangeable Group of Certificates, (i) the Certificate Registrar shall reduce the
outstanding aggregate Certificate Balance or Notional Amount, as applicable, of the Class or Classes comprising the Exchangeable
Group of Certificates surrendered by the applicable Holder on the Certificate Register and shall increase the outstanding aggregate
Certificate Balance or Notional Amount, as applicable, of the related Class or Classes of the Exchangeable Group of Certificates
received by such Holder in such exchange on the Certificate Register, (ii) the Certificate Registrar shall reduce the Initial Certificate
Balance or Initial Notional Amount specified in the Introductory Statement to this Agreement, as applicable, of the Class or Classes
comprising the Exchangeable Group of Certificates surrendered by the applicable Holder on the Certificate Register and shall increase
the initial Certificate Balance or Initial Notional Amount specified in the Introductory Statement to this Agreement, as applicable,
of the related Class or Classes of the Exchangeable Group of Certificates received by such Holder, and (iii) in the case of any
related Global Certificate, the Certificate Registrar or the Certificate Administrator, as applicable, shall approve the instructions
at the Depository and make appropriate notations on the Global Certificate for each related Class of Certificates to reflect such
reductions and increases. Any transfer of a Certificate evidencing the RR Interest to (i) a Plan subject to ERISA or Section 4975
of the Code relying on Prohibited Transaction Exemption 89-90 or (ii) an insurance company general account relying on Sections
I and III of PTCE 95-60 shall be effected through Natixis Securities Americas LLC or Credit Suisse Securities (USA) LLC.

 

(g)              
For all exchanges other than any exchange effectuated by the Depositor pursuant to Section 5.8(d), in order to effect
an exchange of an Exchangeable Group of Certificates, the Certificateholder shall notify the Certificate Administrator in writing
or by e-mail at cts.cmbs.bond.admin@wellsfargo.com (with a subject line referencing “NCMS 2019-NEMA” and setting
forth the proposed Exchange Date) no later than three Business Days before

 

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the proposed exchange date (the “Exchange Date”).
The Exchange Date may be any Business Day other than the first or last Business Day of the month. An exchange notice must (i) be
set forth on the applicable Certificateholder’s letterhead, (ii) carry a medallion stamp guarantee and (iii) set forth the
following information: the CUSIP Number of each Certificate to be exchanged and each Certificate to be received; the original and
outstanding Certificate Balance or Notional Amount, as applicable, of the Certificates to be exchanged and the original and outstanding
Certificate Balance or Notional Amount, as applicable, of the Certificates to be received; the Certificateholder’s Depository
participant number, if applicable; and the proposed Exchange Date. The Certificateholder and the Certificate Registrar shall utilize
the “deposit and withdrawal system” at the Depository to effect the exchange of the applicable Certificates that are
Global Certificates. A notice shall become irrevocable on the second Business Day before the proposed Exchange Date. Global Certificates
shall be exchangeable on the books of the Depository for the corresponding Global Certificates on and after the Closing Date, by
notice to the Certificate Administrator substantially in the form of Exhibit R.

 

(h)              
The Certificate Administrator shall make the first distribution on a Certificate received by a Certificateholder in any
exchange on the Distribution Date in the month following the month of exchange to the Certificateholder of record as of the applicable
Record Date for such Certificate and Distribution Date. If an Exchange Date occurs in any month before the Distribution Date in
such month, then any distributions to be made on such Distribution Date on any Certificates surrendered in the exchange shall be
so made to the Certificateholder of record as of the applicable Record Date for such Certificates and such Distribution Date. Neither
the Certificate Administrator nor the Depositor shall have any obligation to ensure the availability of the applicable Certificates
in the market to accomplish any exchange.

 

6.                 
THE DEPOSITOR, THE SERVICER AND THE SPECIAL SERVICER

 

6.1.             
Respective Liabilities of the Depositor, the Servicer and the Special Servicer. The Depositor, the Servicer and the
Special Servicer each shall be liable in accordance herewith only to the extent of the obligations specifically imposed by this
Agreement.

 

6.2.              
Merger or Consolidation of the Servicer or the Special Servicer. Each of the Servicer and Special Servicer shall
keep in full effect its existence and rights as an entity under the laws of the jurisdiction of its organization, and shall be
in compliance with the laws of all jurisdictions to the extent necessary to perform its duties under this Agreement.

 

Any Person into which
the Servicer or the Special Servicer may be merged or consolidated, or any Person resulting from any merger or consolidation to
which the Servicer or the Special Servicer shall be a party, or any Person succeeding to the servicing business of the Servicer
or the Special Servicer, shall be the successor of the Servicer or Special Servicer, as the case may be, hereunder, and shall be
deemed to have assumed all of the liabilities and obligations of such Servicer or Special Servicer hereunder, without the execution
or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding;
provided, however, that (1) such successor or surviving Person would not cause the then current rating on any of
the Certificates to be qualified, downgraded or withdrawn by any of the Rating Agencies or any Senior Companion Loan Securities
by each rating agency then rating any Senior Companion Loan Securities (each, as evidenced in writing from such Rating

 

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Agency and
delivered to the Certificate Administrator and the Trustee and (2) if the Servicer or Special Servicer enters into a merger and
is the surviving entity under the applicable law, such Servicer or Special Servicer, as applicable, will not, as a result of the
merger, be required to provide a Rating Agency Confirmation.

 

6.3.             
Limitation on Liability of the Depositor, the Servicer, the Special Servicer and Others. (a)  Neither the
Depositor, the Servicer, the Special Servicer nor any of their respective directors, officers, members, managers, partners, employees,
Affiliates or agents shall be under any liability to the Trust, the Certificateholders or the Companion Loan Holders for any action
taken or for refraining from the taking of any action in good faith pursuant to this Agreement, actions taken or not taken at the
direction of Certificateholders or the Companion Loan Holders, or for errors in judgment; provided, however, that
this provision shall not protect the Depositor, the Servicer, the Special Servicer or any such other person against any breach
of warranties or representations made herein or any liability which would otherwise be imposed by reason of willful misconduct,
bad faith or negligence in the performance of its duties or by reason of negligent disregard of its obligations and duties hereunder
and shall not release the Depositor or its Affiliates from, or otherwise relate to any liability or obligation of any party to
any Loan Document or the Loan Seller under the Loan Purchase Agreement. The Depositor, the Servicer, the Special Servicer and any
of their respective directors, officers, employees, members, managers, partners, Affiliates or agents may reasonably rely on any
document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Depositor,
the Servicer, the Special Servicer and any of their respective directors, officers, members, managers, partners, employees, agents,
Affiliates or other “controlling persons” within the meaning of Section 15 of the Act or Section 20 of the Exchange
Act (“Controlling Persons”), shall be indemnified by the Trust (in accordance with the procedures set forth
in Section 3.4(c)) and held harmless against any loss, liability, claim, demand or expense incurred in connection with
any legal action or other claims, costs, expenses, losses, penalties, fines, foreclosures, judgments or liabilities relating to
this Agreement, the Co-Lender Agreement, the Whole Loan, the Property, or the Certificates (including, without limitation, reasonable
fees and disbursements of counsel incurred in any action or proceeding related thereto) other than any loss, liability or expense
incurred by reason of willful misconduct, bad faith or negligence by it in the performance of its duties hereunder or by reason
of its negligent disregard of its obligations and duties hereunder or for any liability or obligation of any party to any Loan
Document or the Loan Seller under the Loan Purchase Agreement. None of the Depositor, the Servicer or Special Servicer shall be
under any obligation to appear in, prosecute or defend any legal action which is not incidental to its respective duties under
this Agreement and which in its opinion may involve it in any expense or liability; provided, however, that the Depositor,
the Servicer or the Special Servicer may, in its discretion, undertake any such action which it may deem necessary or desirable
in accordance with Accepted Servicing Practices in respect of this Agreement, the Co-Lender Agreement and the rights and duties
of the parties hereto and the interests of the Certificateholders and the Companion Loan Holders hereunder. In such event, the
legal expenses and costs of such action and any liabilities of the Trust, the Depositor, the Servicer and the Special Servicer
shall be entitled to be reimbursed therefor pursuant to Section 3.4(c) from funds on deposit in the Collection Account;
provided that the Servicer shall, after receiving payment from amounts on deposit in the Collection Account, promptly notify
the Companion Loan Holders and use commercially reasonable efforts to exercise on behalf of the Trust any rights under the Co-Lender
Agreement

 

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to obtain indemnification and reimbursement for the portion of such amount allocable to the Companion Loans from the
Companion Loan Holders (if permitted under the Co-Lender Agreement).

 

Neither the Servicer
nor the Special Servicer shall be accountable for the use or application by the Depositor of any of the Certificates or of the
proceeds of such Certificates or for the use or application by the Trustee or Certificate Administrator of any funds paid to the
Trustee or the Certificate Administrator, as applicable, in respect of the Trust Loan deposited into or withdrawn from the Distribution
Account or any account (other than the Collection Account and the Foreclosed Property Account and any other account maintained
by the Servicer, the Special Servicer or any Sub-Servicer pursuant to this Agreement) maintained by or on behalf of the Trustee
or the Certificate Administrator (except to the extent that any such account is held by the Servicer or the Special Servicer in
its commercial capacity), or for investment of such amounts (other than investments made with the Servicer or the Special Servicer
in its commercial capacity).

 

(b)              
The Depositor shall not be obligated to monitor or supervise the performance of the Servicer, the Special Servicer, the
Trustee or the Certificate Administrator under this Agreement. The Depositor may, but shall not be obligated to, enforce the obligations
of the Servicer, the Special Servicer, the Trustee and the Certificate Administrator under this Agreement.

 

(c)               
In order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking
institutions, including those relating to the funding of terrorist activities and money laundering (the “Applicable Banking
Laws”), the Servicer, the Special Servicer, the Trustee and the Certificate Administrator, as the case may be, may be
required to obtain, verify and record certain information relating to individuals and entities that maintain a business relationship
with the Servicer, the Special Servicer, the Trustee and the Certificate Administrator, as the case may be. Accordingly, each of
the parties hereto agrees to provide to the Servicer, the Special Servicer, the Trustee and the Certificate Administrator upon
its respective request from time to time, such identifying information and documentation as may be available for such party in
order to enable the Servicer, the Special Servicer, the Trustee and the Certificate Administrator, as the case may be, to comply
with Applicable Banking Law.

 

6.4.              
Servicer and Special Servicer Not to Resign; Replacement of Servicer or Special Servicer. (a)  Each of
the Servicer and Special Servicer may resign and assign its rights and delegate its duties and obligations under this Agreement
to any Person or to an entity, provided that:

 

(i)               
the Person accepting such assignment and delegation (A) shall be an established mortgage finance institution, bank
or mortgage servicing institution having a net worth of not less than $25,000,000, organized and doing business under the laws
of the United States or of any state of the United States or the District of Columbia, authorized under such laws to perform the
duties of the Servicer or the Special Servicer, as the case may be, of the Whole Loan, (B) shall execute and deliver to the
Trustee an agreement satisfactory to the Trustee, which contains an assumption by such Person of the performance and observance
of each covenant and condition to be performed or

 

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observed by the Servicer or the Special Servicer, as the case may be, under this
Agreement from and after the date of such agreement; provided, however that to the extent such agreement modifies
in any respect any of the covenants, terms or conditions in this Agreement to be performed by the Servicer or the Special Servicer,
as the case may be, such agreement shall be subject to the approval of the Trustee, such approval not to be unreasonably withheld,
and (C) shall make such representations and warranties of the Servicer or the Special Servicer, as the case may be, as provided
in Section 2.5;

 

(ii)               
Rating Agency Confirmation has been received with respect to the assignee or appointee of the Servicer or Special Servicer,
as applicable;

 

(iii)               
the Servicer or the Special Servicer, as the case may be, shall not be released from its obligations under this Agreement
that arose prior to the effective date of such assignment and delegation under this Section 6.4(a);

 

(iv)               
the rate at which any servicing compensation (or any component thereof) is calculated shall not exceed the rate specified
herein; and

 

(v)               
the Servicer or the Special Servicer, as the case may be, shall reimburse the Trustee, the Certificate Administrator, the
Trust, and the Rating Agencies for any expenses of such resignation, assignment, sale or transfer.

 

Upon satisfaction of the foregoing requirements
and acceptance of such assignment, such Person shall be the successor Servicer or the Special Servicer, as the case may be, hereunder.

 

(b)              
Other than as set forth in Sections 6.2 and 6.4(a), neither the Servicer nor the Special Servicer shall
resign from its obligations and duties hereby imposed on it, except upon determination that performance of its duties hereunder
is no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities
carried on by it. Any such determination permitting the resignation of the Servicer or the Special Servicer, as the case may be,
shall be evidenced by an Opinion of Counsel delivered to the Trustee, the Depositor and, during any Subordinate Control Period,
the Directing Holder. No resignation by the Servicer or the Special Servicer, as applicable, under this Agreement shall become
effective until a successor Servicer or Special Servicer, as applicable, shall have assumed the responsibilities and obligations
of the Servicer or the Special Servicer, as applicable, under this Agreement in accordance with Section 7.2. Notwithstanding
the previous sentence, each of the Servicer and the Special Servicer may assign its duties and obligations under this Agreement
under certain limited circumstances as described herein.

 

6.5.              Ethical
Wall. 

 

The Servicer and the
Special Servicer shall afford the Depositor, upon reasonable advance notice, during normal business hours access to all non-confidential,
non-proprietary records, including those in electronic form, documentation, records or any other information regarding the Whole
Loan that are in its possession or control hereunder and access to its officers responsible therefor. The Depositor shall not have
any responsibility or liability for any action or failure to act by the Servicer or the Special Servicer and is not obligated to
supervise the performance of the Servicer and the Special Servicer under this Agreement or otherwise.

 

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6.6.              
Indemnification by the Servicer, the Special Servicer and the Depositor.

 

(a)               
Each of the Servicer, the Special Servicer and the Depositor, severally and not jointly, shall indemnify and hold harmless
the Trust, the Certificate Administrator, the Companion Loan Holders and the Trustee from and against any claims, losses, damages,
penalties, fines, forfeitures, reasonable legal fees and expenses and related costs, judgments and other costs and expenses incurred
by the Trust, the Certificate Administrator or the Trustee (each, for the purposes of this Section 6.6 only, an “Indemnified
Party”) in connection with this Agreement (including, without limitation, reasonable fees and disbursements of counsel
incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party and the Indemnified Party or between
the Indemnified Party and any third party or otherwise) that arise out of or are based upon (i) a breach by the Servicer,
the Special Servicer or the Depositor, as the case may be, of its obligations to the Trust or the Certificateholders under this
Agreement or (ii) negligence, bad faith, fraud or willful misconduct on the part of the Servicer, the Special Servicer or
the Depositor, as the case may be, in the performance of such obligations or its negligent disregard of its obligations and duties
under this Agreement.

 

(b)              
Each of the Servicer and the Special Servicer, severally and not jointly, shall indemnify and hold harmless the Companion
Loan Holders from and against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related
costs, judgments, and any other costs and expenses that the Companion Loan Holders may sustain in connection with this Agreement
that arise out of or are based upon the Servicer’s or the Special Servicer’s, as the case may be, willful misconduct,
bad faith or negligence in the performance of its obligations hereunder or by reason of negligent disregard of its obligations
hereunder.

 

7.                 
SERVICER TERMINATION EVENTS; TERMINATION OF SPECIAL SERVICER WITHOUT CAUSE

 

7.1.             
Servicer Termination Events; Special Servicer Termination Events.

(a)  “Servicer Termination Event,” or “Special Servicer Termination Event” wherever
used herein with respect to the Servicer or the Special Servicer, as the case may be, means any one of the following events whether
it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court
or any order, rule or regulation of any administrative or governmental body:

 

(i)                
any failure by the Servicer or Special Servicer, as applicable, to remit any payment required to be made or remitted by
it (other than Advances described under clause (ii) below) when required to be remitted under the terms of this Agreement
by 11:00 a.m., New York time, on the first Business Day following the date on which such remittance was required to be made;

 

(ii)               
any failure of the Servicer to (a) make any Monthly Payment Advance or Administrative Advance required to be made pursuant
to this Agreement on or prior to the applicable Remittance Date which is not cured by 11:00 a.m., New York time, on the related
Distribution Date or (b) make any Property Protection Advance required to be made pursuant to this Agreement when the same
is due and such failure continues

 

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unremedied for 10 Business Days (or such shorter period (not less than two Business Days) as
would prevent a lapse in insurance or a delinquent payment of real estate taxes or ground or leasehold rents) following the date
on which the Servicer receives notice thereof or should have had notice thereof if it had been acting in accordance with Accepted
Servicing Practices;

 

(iii)              
any failure by the Servicer or the Special Servicer, as applicable, to observe or perform in any material respect any other
of its covenants or agreements or the material breach of its representations or warranties under this Agreement, which failure
shall continue unremedied for a period of 30 days after the date on which written notice of such failure shall have been given
to the Servicer or Special Servicer, as applicable, by the Trustee or to the Servicer or Special Servicer, as applicable, and the
Trustee by the holders of Sequential Pay Certificates having greater than 25% of the aggregate Voting Rights of all then outstanding
Sequential Pay Certificates or by a Companion Loan Holder, if affected; provided, however, that, with respect to
any such failure that is not curable within such 30-day period, the Servicer or the Special Servicer, as applicable, will have
an additional cure period of 30 days to effect such cure so long as the Servicer or the Special Servicer, as applicable, has commenced
to cure such failure within the initial 30-day period and has provided the Trustee with an officer’s certificate certifying
that it has diligently pursued, and is continuing to diligently pursue, such cure;

 

(iv)             
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case
under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding-up or liquidation of its affairs, shall have been entered against the Servicer or the Special Servicer, as applicable,
and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days; provided, however,
that, with respect to any such decree or order that cannot be discharged, dismissed or stayed within such 60-day period, the Servicer
or the Special Servicer, as appropriate, will have an additional period of 30 days to effect such discharge, dismissal or stay
so long as it has commenced proceedings to have such decree or order dismissed, discharged or stayed within the initial 60-day
period and has diligently pursued, and is continuing to pursue, such discharge, dismissal or stay;

 

(v)               
the Servicer or the Special Servicer, as applicable, shall consent to the appointment of a conservator or receiver or liquidator
or liquidation committee in any insolvency, readjustment of debt, marshaling of assets and liabilities, voluntary liquidation,
or similar proceedings of or relating to the Servicer or the Special Servicer or of or relating to all or substantially all of
its property;

 

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

 

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(vii)            
Moody’s has (1) qualified, downgraded or withdrawn its ratings of one or more Classes of Certificates, or (2) placed
one or more Classes of Certificates on “watch status” in contemplation of a rating downgrade or withdrawal (and such
qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by Moody’s within 60
days of such event) and, in the case of either of clauses (1) or (2), cited servicing concerns with the Servicer or the Special
Servicer, as the case may be, as the sole or material factor in such action;

 

(viii)          
(a) the Servicer or the Special Servicer, as applicable, has failed to maintain a ranking by Morningstar equal to or higher
than “MOR CS3” as a master servicer or a special servicer, as applicable, and such ranking is not reinstated within
60 days of such event (if the Servicer or the Special Servicer, as applicable, has or had a Morningstar ranking on or after the
Closing Date) or (b) if the Servicer or the Special Servicer, as applicable, has not been ranked by Morningstar on or after the
Closing Date, and Morningstar has qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes
of certificates or placed one or more classes of certificates on “watch status” in contemplation of a rating downgrade
or withdrawal, publicly citing servicing concerns with the Servicer or the Special Servicer, as applicable, as the sole or material
factor in such rating action (and such qualification, downgrade, withdrawal or “watch status” placement has not been
withdrawn by Morningstar within 60 days of such event);

 

(ix)               
a Senior Companion Loan Rating Agency has (a) qualified, downgraded or withdrawn its rating or ratings of one or more classes
of Senior Companion Loan Securities, or (b) placed one or more classes of Senior Companion Loan Securities on "watch status"
in contemplation of rating downgrade or withdrawal and, in the case of either of clauses (a) or (b), publicly citing
servicing concerns with the Servicer or the Special Servicer, as applicable, as the sole or material factor in such rating action
(and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by such Senior Companion
Loan Rating Agency within 60 days of such event); and

 

(x)               
so long as a Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act, the
Servicer or Special Servicer, as applicable, or any primary servicer, Sub-Servicer or Servicing Function Participant (such entity,
the “Sub-Servicing Entity”) retained by the Servicer or Special Servicer, shall fail to deliver the items required
to be delivered by this Agreement to enable such Senior Companion Loan Securitization Trust to comply with its reporting obligations
under the Exchange Act, the Securities Act or Form SF-3.

 

(b)              
Upon the occurrence of any Servicer Termination Event or Special Servicer Termination Event, the Trustee shall upon actual
knowledge by a Responsible Officer promptly notify the 17g-5 Information Provider and Certificate Administrator in writing and
(i) each of the Certificate Administrator and the 17g-5 Information Provider shall post such notice on its respective Website pursuant
to Section 8.14(b) and (ii) the Certificate Administrator will provide notice of the same to the Certificateholders
and the Senior Companion Loan Holders by mail, to the addresses set forth on the Certificate Register, of such Servicer Termination
Event or

 

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Special Servicer Termination Event, unless it shall have been cured or waived. For avoidance of doubt, (i) the occurrence
of a Servicer Termination Event with respect to the Servicer shall not cause there to have occurred a Special Servicer Termination
Event with respect to the Special Servicer unless the relevant event also constitutes a Special Servicer Termination Event and
(ii) the occurrence of a Special Servicer Termination Event with respect to the Special Servicer shall not cause there to
have occurred a Servicer Termination Event with respect to the Servicer unless the relevant event also constitutes a Servicer Termination
Event.

 

In addition, upon such
failure to comply with the reporting requirements set forth in this Agreement, subject to any applicable grace periods, the Servicer
or Special Servicer, as applicable (and any Sub-Servicing Entity that defaults in accordance with clause (x) above), shall be terminated
at the direction of the Depositor.

 

(c)               
If a Servicer Termination Event or Special Servicer Termination Event shall occur then, and in each and every such case,
so long as such Servicer Termination Event or Special Servicer Termination Event shall not have been remedied, either (i) the
Trustee may, or (ii) upon the written direction of Holders of Certificates having at least 25% of the Voting Rights (taking
into account the application of the Appraisal Reduction Amount to notionally reduce the Certificate Balances of the Certificates)
of the Certificates, the Trustee shall terminate all of the rights and obligations of the Servicer or the Special Servicer, as
applicable, under this Agreement, other than rights and obligations accrued prior to such termination, and in and to the Whole
Loan and the proceeds thereof by notice in writing to the Servicer or the Special Servicer, as applicable. Upon any termination
of the Servicer or the Special Servicer, as applicable, or appointment of a successor to the Servicer or the Special Servicer,
as applicable, the Trustee will notify the Certificate Administrator and the Certificate Administrator shall, as soon as possible,
post such written notice thereof on the Certificate Administrator’s Website and provide the same to the 17g-5 Information
Provider who shall post written notice thereof to the 17g-5 Information Provider’s Website pursuant to Section 8.14(b),
and thereafter, give written notice to the Rating Agencies, Depositor, the Certificateholders and the Companion Loan Holders. During
any Subordinate Control Period, the Directing Holder shall have the right to select the successor special servicer following any
Special Servicer Termination Event. Also, notwithstanding the foregoing, if a Servicer Termination Event on the part of the Servicer
or the Special Servicer affects only a Companion Loan, any holder thereof or the rating on a class of Senior Companion Loan Securities,
then the Servicer or Special Servicer, as applicable may not be terminated at the direction of the holders of any Certificates
or any Companion Loan Holder (acting in such capacities); provided that, the Companion Loan Holders shall be entitled to
direct that the Trustee direct the Servicer to appoint a sub-servicer (or if the Whole Loan is currently being sub-serviced, then
the Trustee will direct the Servicer to replace such sub-servicer with a new sub-servicer but only if such original sub-servicer
is in default (beyond any applicable cure periods) under the related sub-servicing agreement, and the Servicer shall be permitted
to terminate the sub-servicing agreement due to such default) that will be responsible for servicing the Whole Loan.

 

(d)              
During any Subordinate Control Period, the Directing Holder shall have the right to direct the Trustee to terminate the
Special Servicer (subject to such terminated Special Servicer’s rights to indemnification, payment of outstanding fees, and
other rights set forth in this Agreement which survive termination) at any time, with or without cause, and the

 

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Directing Holder
shall have the right to, and shall, appoint a successor special servicer who shall execute and deliver to the other parties hereto
an agreement, in form and substance reasonably satisfactory to the Trustee, whereby the successor Special Servicer agrees to assume
and perform punctually the duties of the Special Servicer specified in this Agreement; provided that the Trustee shall have
obtained a Rating Agency Confirmation from each Rating Agency and each rating agency relating to the Senior Companion Loan Securities
prior to the termination of the Special Servicer. The Special Servicer shall not be terminated pursuant to this paragraph until
a successor special servicer shall have been appointed. The Directing Holder shall pay any costs and expenses incurred by the Trustee
or the Trust in connection with the removal and appointment of a Special Servicer pursuant to this paragraph (unless such removal
is based on any of the events or circumstances set forth in Section 7.1(a)). Notwithstanding anything to the contrary in
this Agreement, no successor special servicer appointed by the Directing Holder pursuant to Section 6.4, Section 7.1(c)
or this Section 7.1(d) or otherwise pursuant to this Agreement shall be required to meet any independent net worth requirements;
provided, however, that notwithstanding the foregoing, any successor special servicer shall satisfy any Rating Agency conditions
set forth in the Rating Agency Confirmation delivered by such Rating Agency with respect to such successor special servicer.

 

(e)               
After the termination of a Subordinate Control Period, upon (i) the written direction of holders of Sequential Pay
Certificates evidencing not less than 25% of the Voting Rights (taking into account the application of any Appraisal Reduction
Amounts to notionally reduce the Certificate Balances of the Certificates) of the Sequential Pay Certificates requesting a vote
to replace the Special Servicer with a new special servicer designated in such written direction, (ii) payment by such holders
to the Certificate Administrator of the reasonable fees and expenses (including any legal fees and expenses and any Rating Agency
fees and expenses) to be incurred by the Certificate Administrator in connection with administering such vote and (iii) delivery
by such holders to the Certificate Administrator of Rating Agency Confirmations from each Rating Agency and each rating agency
relating to the Senior Companion Loan Securities with respect to the appointment of such new special servicer (which Rating Agency
Confirmation shall be obtained at the expense of such holders), the Certificate Administrator shall promptly post written notice
of the same to the Certificate Administrator’s Website pursuant to Section 8.14(b), provide written notice to
all Certificateholders of such request by mail, and shall conduct the solicitation of votes of all Certificates in such regard.
If 66 2/3% of the aggregate Voting Rights have been exercised by the related Certificateholders, then, upon the written direction
of holders of Certificates evidencing at least 75% of the aggregate Voting Rights (taking into account the application of any Appraisal
Reduction Amounts to notionally reduce the Certificate Balances of the Certificates) of all Certificates whose holders exercise
their right to vote (which direction must be received by the Certificate Administrator within 180 days of the request for a vote),
the Certificate Administrator shall notify the Trustee and the Trustee shall terminate all of the rights and obligations of the
Special Servicer under this Agreement and appoint the successor Special Servicer designated by such Certificateholders; provided
such successor Special Servicer is a Qualified Replacement Special Servicer and subject to the replaced Special Servicer’s
indemnification, payment of outstanding fees and other rights set forth in this Agreement which survive termination; provided
further, such successor Special Servicer certifies in writing that it satisfies all related qualifications set forth in the
Co-Lender Agreement; provided further that if such written direction is not provided within 180 days of the initial request
for a vote to terminate and replace the Special Servicer, then such

 

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written direction shall have no force and effect. The provisions
set forth in the foregoing sentences of this paragraph shall be binding upon and inure to the benefit of solely the Certificateholders
and the Trustee as between each other. The Special Servicer shall not have any cause of action based upon or arising from any breach
or alleged breach of such provisions. As between the Special Servicer, on the one hand, and the Certificateholders, on the other,
the Certificateholders shall be entitled in their sole discretion to vote for the termination or not vote for the termination of
the Special Servicer. The Holders of the Certificates that initiated the vote to replace the Special Servicer shall pay the costs
and expenses incurred in connection with the removal and replacement of the Special Servicer pursuant to this paragraph. The Certificate
Administrator shall include on each Distribution Date Statement a statement that each Certificateholder may access such notices
on the Certificate Administrator’s Website and that each Certificateholder may register to receive e-mail notifications when
such notices are posted thereon.

 

(f)               
In the event that the Servicer or Special Servicer is terminated pursuant to this Section 7.1, the Trustee (the
“Terminating Party”) shall, by notice in writing to the Servicer or Special Servicer, as the case may be (the
“Terminated Party”) (with a copy to the Borrower), terminate all of its rights and obligations under this Agreement
and in and to the Whole Loan and the proceeds thereof, other than any rights the Terminated Party may have hereunder as a Certificateholder
and any rights or obligations that accrued prior to the date of such termination (including the right to receive all amounts accrued
or owing to it under this Agreement with respect to periods prior to the date of such termination and the right to the benefits
of Section 6.3 notwithstanding any such termination). On or after the receipt by the Terminated Party of such written
notice, subject to the foregoing, all of its authority and power under this Agreement, whether with respect to the Certificates
(except that the Terminated Party shall retain its rights as a Certificateholder in the event and to the extent that it is a Certificateholder)
or the Whole Loan or otherwise, shall pass to and be vested in the Terminating Party pursuant to and under this Section (absent
the appointment of a successor, and such successor’s assumption of obligations hereunder, including, without limitation,
by the Directing Holder during any Subordinate Control Period) and, without limitation, the Terminating Party is hereby authorized
and empowered to execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Whole Loan and
related documents, or otherwise. The Servicer and the Special Servicer, as applicable, each agrees that, in the event it is terminated
pursuant to this Section 7.1, or resigns under Section 6.4(b), to promptly (and in any event no later than
10 Business Days subsequent to such notice) provide, at its own expense, the Terminating Party (which term shall include for the
purposes of the remainder of this Section 7.1(f), the Trustee (or a successor Servicer or Special Servicer) in connection
with a resignation of the Servicer or the Special Servicer under Section 6.4(b)) with all documents and records requested
by the Terminating Party to enable the Terminating Party to assume its functions hereunder, and to cooperate with the Terminating
Party and the successor to its responsibilities hereunder in effecting the termination of its responsibilities and rights hereunder,
including, without limitation, the transfer to the successor Servicer or Special Servicer, as applicable, or the Terminating Party,
as applicable, for administration by it of all cash amounts which shall at the time be or should have been credited by the Terminated
Party (which term shall include, for the purposes of the remainder of this Section 7.1(f), the resigning party in

 

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connection
with a resignation of the Servicer or the Special Servicer under Section 6.4(b)) to the Collection Account, the Companion
Loan Account, any Foreclosed Property Account or shall thereafter be received with respect to the Whole Loan, and shall promptly
provide the Terminating Party or such successor Servicer or Special Servicer, as applicable (which may include the Trustee), as
applicable, all documents and records reasonably requested by it, such documents and records to be provided in such form as the
Terminating Party or such successor Servicer or the Special Servicer, as applicable, shall reasonably request (including electromagnetic
form), to enable it to assume the function of the Servicer or Special Servicer, as applicable, hereunder. All reasonable costs
and expenses of the Terminating Party or the successor Servicer or Special Servicer, as applicable, incurred in connection with
transferring the Mortgage File to the Terminating Party or to the successor Servicer or Special Servicer, as applicable, and amending
this Agreement to reflect such succession pursuant to this Section 7.1 shall be paid by the Terminated Party upon presentation
of reasonable documentation of such costs and expenses. If the Terminated Party has not reimbursed the Terminating Party or such
successor Servicer or Special Servicer, as applicable, for such expenses within 90 days after the presentation of reasonable documentation,
such expense shall be reimbursed by the Trust pursuant to Section 3.4(c); provided that the Terminated Party
shall not thereby be relieved of its liability for such expenses.

 

(g)              
In no event shall the Trustee be deemed to have knowledge of or be aware of any Servicer Termination Event or Special Servicer
Termination Event until a Responsible Officer of the Trustee has received written notice thereof or has actual knowledge thereof.

 

7.2.             
Trustee to Act; Appointment of Successor. (a) On and after the time the Servicer or Special Servicer, as the case
may be, receives a notice of termination pursuant to Section 7.1, or resigns pursuant to Section 6.4(b),
the Terminating Party (which term shall include, for the purposes of the remainder of this Section 7.2, the Trustee
(or a successor Servicer or Special Servicer including a successor appointed under Section 6.4(a)) in connection with
a resignation of the Servicer or the Special Servicer under Section 6.4(b)) shall, unless prohibited by law, be the
successor to the Terminated Party (which term shall include, for the purposes of the remainder of this Section 7.2,
the resigning party in connection with a resignation of the Servicer of the Special Servicer under Section 6.4(b))
in all respects under this Agreement and the transactions set forth or provided for herein and, except as provided herein, shall
be subject to all the responsibilities, duties, limitations on liability and liabilities relating thereto and arising thereafter
placed on the Terminated Party by the terms and provisions hereof; provided, however, that (i) neither the Trustee
nor the Terminating Party (or any successor Servicer or Special Servicer, as the case may be) shall have responsibilities, duties,
liabilities or obligations with respect to any act or omission of the Terminated Party and (ii) any failure to perform, or
delay in performing, such duties or responsibilities caused by the Terminated Party’s failure to provide, or delay in providing,
records, tapes, disks, information or monies or failure to cooperate as required by this Agreement shall not be considered a default
by the Terminating Party or such successor hereunder. The Trustee, as successor Servicer, and any other successor Servicer or Special
Servicer, as the case may be, shall be indemnified to the full extent provided to the Trustee under this Agreement. The appointment
of a successor Servicer or Special Servicer, as the case may be, shall not affect any liability of the Terminated Party that may
have arisen prior to its termination as such. The Terminating Party shall not be liable for any of the representations and warranties
of the Terminated Party herein or in any related document or

 

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agreement, for any acts or omissions of the Terminated Party or for
any losses incurred in respect of any Permitted Investment by the Terminated Party nor shall the Terminating Party or any successor
Servicer or Special Servicer be required to purchase the Trust Loan or a Companion Loan hereunder. As compensation therefor, the
Terminating Party as successor Servicer or Special Servicer, as the case may be, shall be entitled to all compensation with respect
to the Trust Loan or a Companion Loan to which the Terminated Party would have been entitled that accrues after the date of the
Terminating Party’s succession to which the Terminated Party would have been entitled if it had continued to act hereunder
and, in the case of a successor Special Servicer, the Special Servicing Fee. Notwithstanding the above, the Trustee may, if it
shall be unwilling to so act, or shall, if it is unable to so act, or if the Holders of Certificates having greater than 25% of
the aggregate Voting Rights of all then outstanding Certificates so request in writing to the Trustee, or the Trustee is not approved
by the Rating Agencies and each rating agency relating to the Senior Companion Loan Securities as a Servicer or Special Servicer,
as the case may be, as evidenced by a Rating Agency Confirmation or if a Rating Agency Confirmation is not obtained, promptly appoint,
or petition a court of competent jurisdiction to appoint, any established loan servicing institution reasonably satisfactory to
the Trustee the appointment for which a Rating Agency Confirmation is obtained, as the successor to the Servicer or Special Servicer,
as applicable, hereunder in the assumption of all or any part of the responsibilities, duties or liabilities of the Servicer or
Special Servicer, as applicable, hereunder. No appointment of a successor to a Terminated Party hereunder shall be effective until
the assumption by such successor of all the Terminated Party’s responsibilities, duties and liabilities hereunder. Pending
appointment of a successor to a Terminated Party hereunder, unless the Trustee shall be prohibited by law from so acting, the Trustee
shall act in the applicable capacity as herein above provided. Any appointment or succession by the Trustee to the rights and obligations
of the Special Servicer hereunder shall be subject to the Directing Holder’s right to replace the Special Servicer during
any Subordinate Control Period. In connection with such appointment and assumption described herein, the Trustee may make such
arrangements for the compensation of such successor out of payments on the Whole Loan as it and such successor shall agree; provided,
however, that no such compensation shall be in excess of that permitted the Terminated Party hereunder, except that if no
successor to the Terminated Party can be obtained to perform the obligations of such Terminated Party hereunder, additional amounts
shall be paid to such successor and such amounts in excess of that permitted the Terminated Party shall be paid pursuant to Section 3.4(c).
The Depositor, the Trustee, the Certificate Administrator, the Servicer (as applicable), the Special Servicer (as applicable) and
such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession.

 

(b)          Notwithstanding
Section 7.1(b) of this Agreement, if a Servicer receives a notice of termination solely due to a Servicer Termination Event
or Special Servicer Termination Event, as applicable, under Section 7.1(a)(vii) or (viii) and the terminated Servicer
provides the Trustee with the appropriate “request for proposal” materials within five Business Days after such termination,
then such Servicer shall continue to serve as Servicer, if requested to do so by the Trustee, and the Trustee shall promptly thereafter
(using such “request for proposal” materials provided by the terminated Servicer) solicit good faith bids for the rights
to master service the Whole Loan from at least three Persons qualified to act as successor servicer hereunder in accordance with
Section 6.2 and Section 7.2 for which the Trustee has received Rating Agency Confirmation (any such Person so qualified,
a “Qualified Bidder”) or, if three (3) Qualified Bidders cannot be located, then from as many Persons as the
Trustee can determine are

 

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Qualified Bidders; provided, however, that (i) at the Trustee’s request, the terminated
Servicer shall supply the Trustee with the names of Persons from whom to solicit such bids; and (ii) the Trustee shall not be responsible
if less than three or no Qualified Bidders submit bids for the right to master service the Whole Loan under this Agreement. The
bid proposal shall require any Successful Bidder (as defined below), as a condition of such bid, to enter into this Agreement as
successor Servicer with respect to the Whole Loan, and to agree to be bound by the terms hereof, within 45 days after the receipt
by the terminated Servicer of a notice of termination. The Trustee shall solicit bids (i) on the basis of such successor servicer
entering into a sub-servicing agreement with the terminated Servicer to service the Whole Loan at a sub-servicing fee rate per
annum equal to the Servicing Fee minus the Retained Fee Rate (each, a “Servicing-Retained Bid”) and (ii) on
the basis of having no obligation to enter into a sub-servicing agreement with the terminated Servicer (each, a “Servicing-Released
Bid”). The Trustee shall select the Qualified Bidder with the highest cash Servicing-Retained Bid (or, if none, the highest
cash Servicing Released Bid) (the “Successful Bidder”) to act as successor servicer hereunder. The Successful
Bidder shall enter into this Agreement as successor servicer pursuant to the terms hereof (and, if the successful bid was a Servicing-Retained
Bid, to enter into a sub-servicing agreement with the terminated Servicer as contemplated above), no later than 45 days after the
termination of the terminated Servicer. Upon the assignment and acceptance of the servicing rights hereunder to and by the Successful
Bidder, and upon payment of the proceeds by the Successful Bidder to the Certificate Administrator, the Certificate Administrator
shall remit or cause to be remitted to the terminated Servicer the amount of such cash bid received from the Successful Bidder
(net of “out of pocket” expenses incurred in connection with obtaining such bid and transferring servicing).

 

If the Trustee or an
Affiliate acts pursuant to this Section 7.2 as successor to the resigning or terminated Servicer, it may reduce such terminated
Servicer’s Retained Fee Rate and/or Excess Servicing Fee to the extent that its or such Affiliate’s compensation as
successor Servicer would otherwise be below market rate servicing compensation. If the Trustee elects to appoint a successor to
the resigning or terminated Servicer other than itself or an Affiliate pursuant to this Section 7.2, it may reduce the Retained
Fee Rate and/or Excess Servicing Fee to the extent reasonably necessary (in the sole discretion of the Trustee) for the Trustee
to appoint a qualified successor Servicer that meets the requirements of this Section 7.2.

 

7.3.             
[Reserved.]

 

7.4.             
Other Remedies of Trustee. During the continuance of any Servicer Termination Event or Special Servicer Termination
Event, as the case may be, or so long as such Servicer Termination Event or Special Servicer Termination Event shall not have been
remedied, the Trustee, in addition to the rights specified in Section 7.1, shall have the right, in its own name as
trustee of an express trust, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights
and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders and the Companion Loan
Holders (including the institution and prosecution of all judicial, administrative and other proceedings and the filing of proofs
of claim and debt in connection therewith). In such event, the legal fees, expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust, and the Trustee shall be entitled to be reimbursed therefor
pursuant to Section 3.4(c) from the Collection Account (and such amounts shall be allocated in accordance with the
expense

 

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allocation provisions of the Co-Lender Agreement). Except as otherwise expressly provided in this Agreement, no remedy
provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition
to any other remedy and no delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be
deemed to be a waiver of any Servicer Termination Event or Special Servicer Termination Event.

 

7.5.             
Waiver of Past Servicer Termination Events and Special Servicer Termination Events. The Holders of Certificates evidencing
not less than 66 2/3% of the aggregate Voting Rights of all then outstanding Certificates may, on behalf of all Certificateholders
and upon adequate indemnification of the Trustee by the requesting Holders of Certificates, waive any default by the Servicer or
the Special Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required
deposits (including Monthly Payment Advances) to or payments from the Collection Account, the Distribution Account or any Foreclosed
Property Account or in remitting payments as received, in each case in accordance with this Agreement. Upon any such waiver of
a past default, such default shall cease to exist, and the related Servicer Termination Event or Special Servicer Termination Event
arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any
subsequent or other default or impair any right related thereto.

 

7.6.             
Trustee as Maker of Advances. In the event that the Servicer fails to fulfill its obligations hereunder to make any
Advances, the Trustee shall perform such obligations (w) within five Business Days (or such shorter period (but not less than
one Business Day) as may be required, if applicable, to avoid any lapse in insurance coverage required under the Loan Documents
or this Agreement with respect to the Property or to avoid any foreclosure or similar action with respect to the Property by reason
of failure to pay real estate taxes, assessments, ground or leasehold rents or governmental charges) of a Responsible Officer of
the Trustee obtaining knowledge of such failure by the Servicer or the Special Servicer with respect to any Advances (other than
any Monthly Payment Advances on the Trust Loan) and (x) by 12:00 noon New York time on the related Distribution Date with
respect to Monthly Payment Advances on the Trust Loan. If the Certificate Administrator has not received any required Monthly Payment
Advance on the Trust Loan from the Servicer by 11:00 a.m. on the related Distribution Date, the Certificate Administrator shall
provide notice to that effect to the Trustee, and if the required Monthly Payment Advance on the Trust Loan is still not received
by the Certificate Administrator by 11:45 a.m. on the related Distribution Date, the Certificate Administrator shall again provide
notice to that effect to the Trustee, who shall then perform the obligations set forth in the preceding sentence. With respect
to any such Advance made by the Trustee, the Trustee shall succeed to all of the Servicer’s and/or the Special Servicer’s
rights, as applicable, with respect to Advances hereunder, including, without limitation, the rights of reimbursement and interest
on each Advance at the Advance Rate, and rights to determine that a proposed Advance is a Nonrecoverable Advance (without regard
to any impairment of any such rights of reimbursement caused by such Servicer’s and/or the Special Servicer’s default
in its obligations hereunder and further subject to the Trustee’s standard of good faith judgment); provided, however,
that if Advances made by the Trustee, the Servicer and/or the Special Servicer shall at any time be outstanding, or any interest
on any Advance shall be accrued and unpaid, all amounts available to repay such Advances and the interest thereon hereunder shall
be

 

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applied entirely to the Advances outstanding to the Trustee (in that order) until such Advances shall have been repaid in full,
together with all interest accrued thereon, prior to reimbursement of the Servicer and/or the Special Servicer, as applicable,
for such Advances and interest accrued thereon. The Trustee shall be entitled to conclusively rely on any notice given by the Servicer
and/or the Special Servicer, as applicable, with respect to a Nonrecoverable Advance hereunder. The Servicer or the Trustee, as
applicable, shall not be responsible for advancing Monthly Payment Advances or Administrative Advances with respect to the Companion
Loans.

 

8.                 
THE TRUSTEE AND Certificate Administrator

 

8.1.             
Duties of the Trustee and the Certificate Administrator. (a)  Each of the Trustee and the Certificate Administrator,
prior to the occurrence of a Servicer Termination Event or Special Servicer Termination Event, as the case may be, and after the
curing or waiver of any Servicer Termination Event or Special Servicer Termination Event that may have occurred, undertakes with
respect to the Trust Fund to perform such duties and only such duties as are specifically set forth in this Agreement. Neither
the Depositor nor the Servicer nor the Special Servicer shall be obligated to monitor or supervise the performance by the Trustee
or the Certificate Administrator of its duties hereunder. In case a Servicer Termination Event or Special Servicer Termination
Event has occurred (which has not been cured or waived), the Trustee, subject to the provisions of Sections 7.2 and
7.4, shall exercise such of the rights and powers vested in it by this Agreement, and shall use the same degree of care
and skill in their exercise, as a prudent institution would exercise or use under the circumstances in the conduct of such institution’s
own affairs. Any permissive right of the Trustee or the Certificate Administrator set forth in this Agreement shall not be construed
as a duty. The Trustee (or the Servicer or the Special Servicer on its behalf) shall have the power to exercise all the rights
of a holder of the Whole Loan on behalf of the Certificateholders and the Companion Loan Holders, subject to the terms of the Loan
Documents and the Co-Lender Agreement; provided, however, that the lender’s obligations under the Loan Documents
shall be exercised by the Servicer or Special Servicer, as the case may be, pursuant to this Agreement.

 

(b)              
Subject to Sections 8.2(a) and 8.3, each of the Trustee and the Certificate Administrator, upon receipt
of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee
or the Certificate Administrator that are specifically required to be furnished to it pursuant to any provision of this Agreement,
shall examine, or cause to be examined, such instruments to determine whether they conform to the requirements of this Agreement
to the extent specifically set forth herein. If any such instrument is found on its face not to conform to the requirements of
this Agreement in a material manner, the Trustee or the Certificate Administrator, as applicable, may take such action as it deems
appropriate to have the instrument corrected, and if the instrument is not corrected to the Trustee’s or the Certificate
Administrator’s reasonable satisfaction, the Trustee or the Certificate Administrator shall provide notice thereof to the
Certificateholders. Neither the Trustee nor the Certificate Administrator shall be responsible for the accuracy or content of any
resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Depositor, the Servicer,
or the Special Servicer and accepted by the Trustee or the Certificate Administrator, as the case may be, in good faith, pursuant
to this Agreement.

 

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(c)               
Subject to Section 8.3, no provision of this Agreement shall be construed to relieve the Trustee or the Certificate
Administrator from liability for its own negligent action, its own negligent failure to act, its failure to perform its obligations
in compliance with this Agreement, its own willful misconduct or bad faith; provided, however, that:

 

(i)                
no implied covenants or obligations shall be read into this Agreement against the Trustee or the Certificate Administrator
and each of the Trustee and the Certificate Administrator may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and/or the Certificate Administrator
(including those provided pursuant to Section 10.1) and conforming to the requirements of this Agreement which it reasonably
believes in good faith to be genuine and to have been duly executed by the proper authorities respecting any matters arising hereunder;

 

(ii)               
the Trustee and the Certificate Administrator shall not be liable for an error of judgment made in good faith by a Responsible
Officer of the Trustee or the Certificate Administrator, unless it shall be proved that the Trustee or the Certificate Administrator
or such Responsible Officer, as applicable, was negligent in ascertaining the pertinent facts;

 

(iii)              
the Trustee and the Certificate Administrator shall not be liable with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with this Agreement or at the direction of Holders of Certificates evidencing, in
the aggregate, not less than 25% of the Voting Rights of the Certificates, relating to the time, method and place of conducting
any proceeding for any remedy available to the Trustee or the Certificate Administrator, or exercising any trust or power conferred
upon the Trustee or the Certificate Administrator, under this Agreement;

 

(iv)             
the Trustee and the Certificate Administrator shall not be charged with knowledge of any failure by the Servicer or the
Special Servicer to comply with any of their respective obligations referred to in Section 7.1 or any other act or
circumstance upon the occurrence of which the Trustee or the Certificate Administrator, as applicable, may be required to take
action unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable, obtains actual knowledge of
such failure, act or circumstance or the Trustee or the Certificate Administrator, as applicable, receives written notice of such
failure from the Servicer, the Special Servicer, the Depositor, the Borrower or Holders of the Certificates evidencing, in the
aggregate, not less than 25% of the Voting Rights of the Certificates;

 

(v)             
subject to the other provisions of this Agreement and without limiting the generality of Sections 8.1 and 8.2,
neither the Trustee nor the Certificate Administrator shall have any duty except in the case of the Trustee, acting in its capacity
as a successor Servicer or successor Special Servicer (A) to record, file or deposit this Agreement or any agreement referred
to herein or any financing statement or continuation statement evidencing a security interest, or to maintain of any such recording
or filing or depositing or any re-recording, refiling or redepositing thereof, (B) to maintain any insurance, and (C) to
confirm or verify the contents of any reports or certificates of the Servicer or the

 

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Special Servicer delivered to the Trustee
or the Certificate Administrator pursuant to this Agreement reasonably believed by the Trustee or the Certificate Administrator
to be genuine and to have been signed or presented by the proper party or parties; and

 

(vi)              
for all purposes under this Agreement, the Trustee and the Certificate Administrator shall not be required to take any action
with respect to, or be deemed to have notice or knowledge of any Loan Event of Default, Servicer Termination Event or Special Servicer
Termination Event unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable, has actual knowledge
thereof or shall have received written notice thereof. In the absence of receipt of such notice and such actual knowledge otherwise
obtained, the Trustee and the Certificate Administrator may conclusively assume that there is no Loan Event of Default, Servicer
Termination Event or Special Servicer Termination Event.

 

(d)              
None of the provisions contained in this Agreement shall in any event require the Trustee or the Certificate Administrator
to (i) expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties
hereunder or in the exercise of any of its rights or powers hereunder if there are reasonable grounds for believing that repayment
of such funds or adequate indemnity against such risk or liability is not reasonably assured to it, or (ii) exercise any of
its rights or powers or take any action if it determines such exercise or action is contrary to law, and none of the provisions
of this Agreement shall in any event require the Trustee or Certificate Administrator, as applicable, to perform, or be responsible
for the manner of performance of, any of the obligations of the Servicer or the Special Servicer under this Agreement, except with
respect to the Trustee, during such time, if any, as the Trustee shall be the successor to, and be vested with the rights, duties,
powers and privileges of, the Servicer or the Special Servicer in accordance with the terms of this Agreement. Notwithstanding
anything contained herein, neither the Trustee nor the Certificate Administrator shall be responsible or have liability in connection
with the duties assumed by the Authenticating Agent, and the Certificate Registrar hereunder, unless the Trustee or the Certificate
Administrator is acting in any such capacity hereunder; provided, further, that in any such capacity the Trustee
and the Certificate Administrator shall have all of the rights, protections and indemnities provided to it as Trustee and the Certificate
Administrator hereunder, as applicable.

 

8.2.             
Certain Matters Affecting the Trustee and the Certificate Administrator. (a)  Except as otherwise provided
in Section 8.1:

 

(i)                
each of the Trustee and the Certificate Administrator may request and rely upon and shall be protected in acting or refraining
from acting upon any resolution, Officer’s Certificate, auditor’s certificate or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties;

 

(ii)               
each of the Trustee and the Certificate Administrator may consult with any nationally recognized counsel, and the advice
of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken
or

 

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suffered or omitted by it hereunder in good faith and in accordance with such Opinion of Counsel;

 

(iii)               
neither the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers
vested in it by this Agreement or to institute, conduct or defend any litigation hereunder or in relation hereto at the request,
order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement, unless such Certificateholders
shall have offered to the Trustee or the Certificate Administrator security or indemnity reasonably satisfactory to it against
the costs, expenses and liabilities, including reasonable legal fees, which may be incurred therein or thereby; provided,
however, that nothing contained herein shall relieve the Trustee or the Certificate Administrator of the obligation, upon
the occurrence of a Servicer Termination Event or Special Servicer Termination Event, as the case may be (which has not been cured
or waived), to exercise such of the rights and powers vested in it by this Agreement, and with respect to the Trustee, to use the
same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs;

 

(iv)               
neither the Trustee nor the Certificate Administrator shall be liable for any action reasonably taken, suffered or omitted
by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon
it by this Agreement;

 

(v)               
prior to the occurrence of a Servicer Termination Event or Special Servicer Termination Event hereunder and after the curing
or waiver of such Servicer Termination Event or Special Servicer Termination Event that may have occurred, neither the Trustee
nor the Certificate Administrator shall be bound to ascertain or inquire as to the performance or observance of any of the terms,
conditions, covenants or agreements herein (except as specifically required by this Agreement) or to make any investigation into
the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order,
approval, bond or other paper or document, unless requested in writing so to do by Holders of Certificates evidencing, in the aggregate,
not less than 25% of the Voting Rights of the outstanding Certificates; provided, however, that if the payment within
a reasonable time to the Trustee or the Certificate Administrator of the costs, expenses or liabilities likely to be incurred by
either party in the making of such investigation is, in the opinion of the Trustee or the Certificate Administrator, not reasonably
assured to the Trustee or the Certificate Administrator by the security afforded to it by the terms of this Agreement, the Trustee
or the Certificate Administrator, as applicable, may require indemnity satisfactory to it against such costs, expenses or liabilities
as a condition to taking any such action. The reasonable expense of every such investigation shall be paid by the Trust pursuant
to Section 3.4(c) in the event that such investigation relates to a Servicer Termination Event or Special Servicer
Termination Event, if such an event shall have occurred and is continuing, and otherwise by the Certificateholders requesting the
investigation (and such expense shall be allocated in accordance with the allocation provisions of the Co-Lender Agreement);

 

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(vi)             
each of the Trustee and the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys selected by it with due care but shall not thereby be relieved of
responsibility for such duties;

 

(vii)            
the Certificate Administrator shall not be liable for any loss on any investment of funds made by it pursuant to the terms
of this Agreement other than as set forth in Section 3.8 (other than investments made with the Certificate Administrator
in its commercial capacity); and

 

(viii)          
neither the Trustee nor the Certificate Administrator shall be required to post any kind of bond or surety in connection
with the execution and performance of its duties hereunder, and in no event shall the Trustee or the Certificate Administrator
be liable for punitive, special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to
lost profits), even if the Trustee or the Certificate Administrator, as applicable, has been advised of the likelihood of such
loss or damage.

 

In no event shall either
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator be liable for any failure or delay in the performance
of its obligations hereunder due to force majeure or acts of God; provided that such failure or delay is not also
a result of its own negligence, bad faith or willful misconduct, as applicable.

 

Except as otherwise
expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity hereunder will
not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity that is unrelated
to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting in any other capacity
hereunder, except, in the case of either clause (a) or clause (b), where some or all of the obligations performed in such capacities
are performed by one or more employees within the same group or division of Wells Fargo Bank, National Association, or where the
groups or divisions responsible for performing the obligations in such capacities have one or more of the same Responsible Officers,
provided in any event, however, the knowledge of employees performing special servicing functions shall not be imputed to employees
performing master servicing functions, and the knowledge of employees performing master servicing functions shall not be imputed
to employees performing special servicing functions.

 

(b)              
Following the Closing Date, neither the Trustee nor the Certificate Administrator shall accept any contribution of assets
to the Trust Fund not specifically contemplated by this Agreement.

 

(c)               
All rights or actions under this Agreement or under any of the Certificates, enforceable by the Trustee or the Certificate
Administrator may be enforced by such party without the possession of any of the Certificates, or the production thereof at the
trial or other proceeding relating thereto, and any such suit, action or proceeding instituted by the Trustee or the Certificate
Administrator, as applicable, shall be brought in its name for the benefit of all the Holders of such Certificates, subject to
the provisions of this Agreement.

 

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(d)              
In order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking
institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Laws”),
the Trustee and the Certificate Administrator, as applicable, is required to obtain, verify and record certain information relating
to individuals and entities which maintain a business relationship with the Trustee and the Certificate Administrator, as applicable.
Accordingly, each of the parties agrees to provide to the Trustee and the Certificate Administrator, as applicable, upon its request
from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee
to comply with Applicable Laws.

 

8.3.             
Neither the Trustee nor the Certificate Administrator is Liable for Certificates or the Trust Loan. The recitals
contained herein and in the Certificates (other than the signature and authentication of the Certificate Administrator on the Certificates)
shall not be taken as the statements of the Trustee or the Certificate Administrator and the Trustee and the Certificate Administrator
assume no responsibility for their correctness. The Trustee and the Certificate Administrator make no representations as to the
validity or sufficiency of this Agreement, the Certificates, the Whole Loan or the Companion Loans or related documents except
as expressly set forth herein. The Trustee and the Certificate Administrator shall not be liable for any action or failure of any
action by the Depositor, the Servicer or the Special Servicer hereunder. The Trustee and the Certificate Administrator shall not
at any time have any responsibility or liability for or with respect to the legality, ownership, title, validity or enforceability
of any of the Mortgage or Collateral Security Documents or the Whole Loan, or the perfection, sufficiency and priority of any of
the Mortgage or Collateral Security Documents or the maintenance of any such perfection and priority, or for or with respect to
the efficacy of the Trust Fund or its ability to generate the payments to be distributed to Certificateholders under this Agreement,
including, without limitation, the existence, condition and ownership of the Property; the existence and enforceability of any
hazard insurance thereon; the validity of the assignment of the Trust Loan to the Trust; the performance or enforcement of the
Whole Loan (other than with respect to the Servicer or Special Servicer, if the Trustee shall assume the duties of the Servicer
and/or Special Servicer, respectively, pursuant to Section 7.2 and then only to the extent of the obligations of the
Servicer or Special Servicer, as applicable, hereunder); the compliance by the Depositor, the Borrower, the Servicer and the Special
Servicer with any warranty or representation made under this Agreement or in any related document or the accuracy of any such warranty
or representation made under this Agreement or in any related document prior to the Trustee’s receipt of notice or other
discovery by a Responsible Officer of the Trustee of any noncompliance therewith or any breach thereof; any investment of monies
by or at the direction of the Servicer or the Special Servicer or any loss resulting therefrom (other than investments made with
the Trustee or the Certificate Administrator in its commercial capacity); the failure of the Servicer, the Special Servicer or
any sub-servicer to act or perform any duties required of it hereunder; or any action by the Trustee or the Certificate Administrator
taken at the direction of the Servicer or the Special Servicer (other than with respect to the Trustee if the Trustee shall assume
the duties of the Servicer or the Special Servicer, respectively); provided, however, that the foregoing shall not
relieve the Trustee or the Certificate Administrator, as applicable, of its obligation to perform its duties under this Agreement.
Except with respect to a claim based on either the Trustee’s or the Certificate Administrator’s negligent action, negligent
failure to act, bad faith or willful misconduct (or such other standard of care as may be provided herein with respect to any particular
matter), no

 

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recourse shall be had for any claim based on any provisions of this Agreement, the Certificates, the Mortgage, the
Property, the Collateral Security Documents or the Whole Loan or assignment thereof against the Trustee or the Certificate Administrator,
as applicable, in its respective individual capacity, and neither the Trustee nor the Certificate Administrator shall have any
personal obligation, liability or duty whatsoever to any Certificateholder or any other Person with respect to any such claim,
and any such claim shall be asserted solely against the Trust Fund or any indemnitor who shall furnish indemnity as provided in
this Agreement. Neither the Trustee nor the Certificate Administrator shall have any responsibility for filing any financing or
continuation statements in any public office at any time or to otherwise perfect or maintain the perfection of any security interest
or lien granted to it hereunder or to record this Agreement (unless, with respect to the Trustee, the Trustee shall have become
the successor Servicer or Special Servicer). Neither the Trustee nor the Certificate Administrator shall be accountable for the
use or application by the Depositor of any of the Certificates or of the proceeds of such Certificates or for the use or application
of any funds paid to the Servicer or the Special Servicer, as applicable, in respect of the Whole Loan deposited into or withdrawn
from the Collection Account or any account maintained by or on behalf of the Servicer (except to the extent that the Collection
Account or such other account is held by the Trustee or the Certificate Administrator in their commercial capacity), or for investment
of such amounts (other than investments made with the Trustee or the Certificate Administrator in their commercial capacity).

 

The Trustee and the Certificate
Administrator, by reason of the action or inaction of its directors, officers, members, managers, partners, employees or agents
shall have no liability to the Trust or the Certificateholders for any action taken or for refraining from the taking of any action
in good faith pursuant to this Agreement for actions taken or not taken at the direction of Certificateholders, or for errors in
judgment; provided, however, that this provision shall not protect the Trustee, the Certificate Administrator or
any such Person against any liability which would otherwise be imposed by reason of willful misconduct, bad faith or negligence
of the Trustee, the Certificate Administrator or any such Person. The Trustee, the Certificate Administrator (in each of its capacities
hereunder) and any of their respective directors, officers, members, managers, partners, employees, Affiliates, agents or Controlling
Persons shall be indemnified by the Trust pursuant to Section 3.4(c) out of amounts on deposit in the Collection Account,
and held harmless against any loss, liability, claim, demand or expense (including reasonable legal fees and any costs and expenses
incurred in enforcing this indemnity) incurred in connection with any legal action or other claims, costs, expenses, losses, penalties,
fines, foreclosures, judgments or liabilities incurred in connection with or related to the Trustee’s or the Certificate
Administrator’s performance of their powers and duties under this Agreement (including, without limitation, performance under
Section 8.1 hereof) or in connection with the Whole Loan, the Property or the Certificates (including, without limitation,
reasonable fees and disbursements of counsel incurred in any action or proceeding related thereto); provided, however,
that this provision shall not protect the Trustee, the Certificate Administrator or any such Person against any liability which
would otherwise be imposed by reason of willful misconduct, bad faith or negligence of the Trustee, the Certificate Administrator
or any such Person. The indemnification provided hereunder shall survive the resignation or removal of the Trustee or the Certificate
Administrator and the termination of this Agreement. Anything herein to the contrary notwithstanding, the Trustee shall be responsible
for its acts or failure to act as Servicer and/or Special Servicer during the time the Trustee is serving as such pursuant and
subject to the terms of this Agreement.

 

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8.4.             
Trustee and Certificate Administrator May Own Certificates. The Trustee and the Certificate Administrator in their
individual or any other capacity may become the owner or pledgee of Certificates with the same rights, powers, and privileges as
it would have if they were not the Trustee or the Certificate Administrator.

 

8.5.            
Trustee’s and Certificate Administrator’s Fees and Expenses. (a) The Certificate Administrator shall
be entitled to the Certificate Administrator Fee (including that portion of the Certificate Administrator Fee that represents
the Trustee Fee, which is payable to the Trustee), payable pursuant to Section 3.4(c). The Certificate Administrator
Fee (which shall not be limited to any provision of law in regard to the compensation of a trustee of an express trust) shall
constitute the Certificate Administrator’s and the Trustee’s sole form of compensation for all services rendered by
each entity in the execution of the trust hereby created and in the exercise and performance of any of the powers and duties of
the Certificate Administrator and the Trustee hereunder. The Trustee and the Certificate Administrator shall be entitled to be
reimbursed for all reasonable expenses and disbursements incurred or made by the Trustee or the Certificate Administrator, as
applicable, in accordance with any of the provisions of this Agreement (including the fees and expenses of its counsel and of
all Persons not regularly in its employ), provided such cost would qualify as an “unanticipated expense incurred
by the REMIC” within the meaning of the REMIC Provisions, except any such expense, disbursement or advance as may arise
from its negligence, willful misconduct or bad faith or which is expressly the responsibility of a Certificateholder or Certificateholders
hereunder, all of which reimbursements to be paid from amounts on deposit in the Collection Account pursuant to Section 3.4(c);
provided, however, that neither the Trustee nor the Certificate Administrator shall refuse to perform any of their
obligations hereunder solely as a result of the failure to be paid any fees and expenses so long as payment of such fees and expenses
are reasonably assured to it. The Trustee and the Certificate Administrator shall provide the Servicer with an invoice, on or
prior to each Loan Payment Date, setting forth the actual expenses incurred in connection with the performance of its duties hereunder
for which it seeks payment or reimbursement. Notwithstanding any other provision of this Agreement, neither the Trustee nor the
Certificate Administrator shall be entitled to reimbursement from the Trust for an expense incurred under this Agreement in connection
with the performance of its ordinary and regularly recurring duties hereunder unless such reimbursement is expressly provided
for herein or otherwise permitted hereunder.

 

8.6.              
Eligibility Requirements for the Trustee and the Certificate Administrator; Errors and Omissions Insurance. (a)  Each
of the Trustee and the Certificate Administrator hereunder shall at all times be a corporation, association or 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 under this Agreement, which has a combined capital and surplus of at least $50,000,000
and (i) have a rating on its unsecured long-term debt of at least “A2” by Moody’s (provided that the Trustee
may maintain a long-term unsecured debt rating of at least “Baa2” by Moody’s if the Servicer maintains a rating
of “A2” by Moody’s) and (ii) an equivalent rating by Morningstar (if then rated by Morningstar; provided
that if the Trustee or Certificate Administrator, as applicable, is not rated by Morningstar, an equivalent (or higher) rating
by any two other NRSROs) or (iii) is otherwise acceptable to each Rating Agency as evidenced by the receipt of a Rating Agency
Confirmation, and is subject to supervision or examination by federal or state

 

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authority and shall not be an Affiliate of the Servicer
or the Special Servicer (except during any period when the Trustee has assumed the duties of the Servicer and/or Special Servicer
pursuant to Section 7.2). If a corporation, association or trust company publishes reports of condition at least annually,
pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for purposes of this Section the
combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. In the event that the place of business from which the Trustee or the Certificate Administrator,
as applicable, administers the Trust Fund is a state or local jurisdiction that imposes a tax on the Trust, the Trustee or the
Certificate Administrator, as applicable, shall elect either to (i) resign immediately in the manner and with the effect specified
in Section 8.7, (ii) pay such tax from its own funds and continue as Trustee or the Certificate Administrator,
as applicable, or (iii) administer the Trust Fund from a state and local jurisdiction that does not impose such a tax. In
case at any time the Trustee or the Certificate Administrator, as applicable, shall cease to be eligible in accordance with the
provisions of this Section, the Trustee or the Certificate Administrator, as applicable, shall resign immediately in the manner
and with the effect specified in Section 8.7

 

(b)              
The Certificate Administrator shall obtain and maintain at its own expense, and keep in full force and effect throughout
the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy covering the Certificate Administrator’s
directors, officers and employees acting on behalf of the Certificate Administrator in connection with its activities under this
Agreement; provided that if the Certificate Administrator is not rated at least “A3” or its equivalent by Moody’s
and its equivalent by Morningstar (if then rated by Morningstar), such applicable error and omissions insurance policy must be
rated at least “A3” by Moody’s and an equivalent rating by Morningstar (if then rated by Morningstar, or, if
not rated by Morningstar, then the equivalent rating by two other NRSROs). Such insurance policy shall protect the Certificate
Administrator against losses, forgery, theft, embezzlement, fraud, errors and omissions of such covered persons. The amount of
coverage shall be at least equal to the coverage that is required by applicable governmental authorities having regulatory power
over the Certificate Administrator. In the event that any such bond or policy ceases to be in effect, the Certificate Administrator
shall obtain a comparable replacement bond or policy. In lieu of the foregoing, the Certificate Administrator shall be entitled
to self-insure with respect to such risks so long as (a) the Certificate Administrator is rated at least “A3” by Moody’s
and an equivalent by Morningstar (if then rated by Morningstar) or (b) each Rating Agency has confirmed as evidenced by the receipt
of a Rating Agency Confirmation.

 

(c)               
The Trustee shall obtain and maintain at its own expense, and keep in full force and effect throughout the term of this
Agreement, a blanket fidelity bond and an errors and omissions insurance policy covering the Trustee’s directors, officers
and employees acting on behalf of the Trustee in connection with its activities under this Agreement; provided that if the
Trustee is not rated at least “A3” or its equivalent by Moody’s and an equivalent rating by Morningstar (if then
rated by Morningstar, or, if not rated by Morningstar, then the equivalent rating by two other NRSROs), such applicable error and
omissions insurance policy must be rated at least “A3” by Moody’s and an equivalent rating by Morningstar (or,
if not rated by Morningstar, then the equivalent rating by two other NRSROs). Such insurance policy shall protect the Trustee against
losses, forgery, theft, embezzlement, fraud, errors and omissions of

 

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such covered persons. The amount of coverage shall be at least
equal to the coverage that is required by applicable governmental authorities having regulatory power over the Trustee. In the
event that any such bond or policy ceases to be in effect, the Trustee shall obtain a comparable replacement bond or policy. In
lieu of the foregoing, the Trustee shall be entitled to self-insure with respect to such risks so long as (a) the Trustee’s
unsecured long-term debt is rated at least “A3” or its equivalent by Moody’s and an equivalent rating by Morningstar
(if then rated by Morningstar, or, if not rated by Morningstar, then the equivalent rating by two other NRSROs) or (b) each Rating
Agency has confirmed as evidenced by the receipt of a Rating Agency Confirmation.

 

8.7.             
Resignation and Removal of the Trustee or the Certificate Administrator. Each of the Trustee and the Certificate
Administrator may at any time resign and be discharged from the trusts hereby created by (i) posting written notice on the
Certificate Administrator’s Website pursuant to Section 8.14(b) and giving written notice of resignation to the Depositor,
the Borrower, the Initial Purchasers, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar
(if other than the Trustee), the Companion Loan Holders, the Trustee and the 17g-5 Information Provider, who shall post such notice
on the 17g-5 Information Provider’s Website pursuant to Section 8.14(b) and after such posting by the 17g-5
Information Provider, to the Rating Agencies and by mailing notice of resignation by first class mail, postage prepaid, to the
Certificateholders at their addresses appearing on the Certificate Register, not less than 45 days and not more than 60 days before
the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and (ii) acceptance
by a successor Trustee or Certificate Administrator, as applicable, appointed by the Depositor in accordance with Section 8.8
meeting the qualifications set forth in Section 8.6. Upon such notice of resignation, the Depositor shall promptly
appoint a successor Trustee or Certificate Administrator, as applicable, obtain Rating Agency Confirmation which written confirmation
shall be delivered to the resigning Trustee or Certificate Administrator, and the successor Trustee or Certificate Administrator,
as applicable.

 

If at any time any of
the following occur: (x) the Trustee or Certificate Administrator shall cease to be eligible in accordance with the provisions
of Section 8.6 and shall fail to resign after written request for the Trustee’s or the Certificate Administrator’s
resignation by the Depositor, the Servicer or the Special Servicer, as applicable; (y) the Trustee or the Certificate Administrator
shall materially default in the performance of its obligations under this Agreement; or (z) if at any time the Trustee or
the Certificate Administrator shall become incapable of action, or shall be adjudged a bankrupt or insolvent, or a receiver of
the Trustee or the Certificate Administrator or of either of their property shall be appointed, or any public officer shall take
charge or control of the Trustee or Certificate Administrator or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation then, in any such case, (1) the Depositor may remove the Trustee or the Certificate Administrator,
as applicable, and appoint a successor Trustee or Certificate Administrator, as applicable, by written instrument, in duplicate,
executed by an authorized officer of the Depositor, one copy of which instrument shall be delivered to the Trustee or the Certificate
Administrator, as applicable, so removed and one copy to the successor Trustee or Certificate Administrator, as applicable, or
(2) any Certificateholder who has been a bona fide Certificateholder for at least six months may, on behalf of himself and
all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee or the Certificate Administrator
and the appointment of a successor

 

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Trustee or Certificate Administrator, as applicable. Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, remove the Trustee or Certificate Administrator, as applicable, which removal and
appointment shall become effective upon acceptance of appointment by the successor Trustee or Certificate Administrator, as applicable,
as provided in Section 8.8. The successor Trustee or Certificate Administrator, as applicable, so appointed by such
court shall immediately and without further act be superseded by any successor Trustee or Certificate Administrator, as applicable,
appointed by the Certificateholders as provided below within one year from the date of appointment by such court. Holders of Certificates
evidencing, in the aggregate, not less than a majority of the Voting Rights of the outstanding Certificates, may at any time, upon
30 days’ written notice, remove the Trustee or the Certificate Administrator and appoint a successor Trustee or Certificate
Administrator, as applicable, by written instrument or instruments, in triplicate, signed by such Holders or their attorney-in-fact
duly authorized, one complete set of which instrument or instruments shall be delivered to the Depositor (with a copy to the Servicer
and Special Servicer and the Borrower), one complete set to the Trustee or the Certificate Administrator, as applicable, so removed
and one complete set to the successor(s) so appointed. Notice of any removal of the Trustee or the Certificate Administrator and
acceptance of appointment by the successor Trustee or Certificate Administrator shall be given to the Borrower, the Companion Loan
Holders, the Rating Agencies (through the successor 17g-5 Information Provider’s website, as applicable) and the Initial
Purchasers by the successor Trustee or Certificate Administrator, as applicable. No removal of the Trustee or the Certificate Administrator
shall be effective until all reasonable fees, costs, expenses and Advances (including interest thereon) have been paid to the Trustee
or Certificate Administrator, as applicable in full.

 

Any resignation or removal
of the Trustee or Certificate Administrator shall not become effective until acceptance of the appointment by the successor Trustee
or Certificate Administrator, as applicable, as provided in Section 8.8. If no successor Trustee or Certificate Administrator
shall have been so appointed and shall have accepted appointment by the date specified in such notice of resignation or removal,
the resigning or removed Trustee or Certificate Administrator, as applicable, may petition any court of competent jurisdiction
for the appointment of a successor Trustee or Certificate Administrator, as applicable, at the expense of the Trust.

 

8.8.             
Successor Trustee or Successor Certificate Administrator. Any successor Trustee or Certificate Administrator appointed
as provided in Section 8.7 shall execute, acknowledge and deliver to the Depositor, the Servicer, the Special Servicer
and to its predecessor trustee or certificate administrator an instrument (i) accepting such appointment hereunder and (ii) making
the representations and warranties of the Trustee or the Certificate Administrator, as applicable, as provided in Section 2.3
and Section 2.4, respectively, and thereupon the resignation or removal of the predecessor trustee or certificate administrator
shall become effective and such successor Trustee or Certificate Administrator, as applicable, without any further act, deed or
conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the
like effect as if originally named as trustee or certificate administrator herein. The predecessor Certificate Administrator shall
deliver or cause to be delivered to the successor Certificate Administrator, as applicable, the Mortgage File and related documents
and statements held by it hereunder, and the Depositor, the Servicer, the Special Servicer and the predecessor trustee or certificate
administrator shall execute and deliver

 

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such instruments and do such other things as may reasonably be required for more fully
and certainly vesting and confirming in the successor Trustee or Certificate Administrator all such rights, powers, duties and
obligations.

 

No successor Trustee
or Certificate Administrator shall accept appointment as provided in this Section 8.8 unless at the time of such acceptance
such successor Trustee or Certificate Administrator shall be eligible under the provisions of Section 8.6 and its appointment
shall not result in the qualification, downgrading, or withdrawal of the current rating of any Class of the Certificates (prior
to the resignation or termination of the Trustee or Certificate Administrator).

 

Upon acceptance of appointment
by a successor Trustee or Certificate Administrator as provided in this Section 8.8, the successor Trustee or Certificate
Administrator shall mail notice of the succession of such trustee or certificate administrator hereunder to all Holders of Certificates
at their addresses as shown in the Certificate Register, the Depositor, the 17g-5 Information Provider, the Borrower, the Companion
Loan Holders and the Initial Purchasers.

 

8.9.            
Merger or Consolidation of the Trustee or the Certificate Administrator. Any Person into which the Trustee or the
Certificate Administrator may be merged or converted or with which either may be consolidated or any Person resulting from any
merger, conversion or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person succeeding
to all or substantially all of the corporate trust business of the Trustee or the Certificate Administrator shall be the successor
of the Trustee or the Certificate Administrator, as applicable, hereunder; provided that (i) such Person shall be eligible
under the provisions of Section 8.6, without the execution or filing of any paper or further act on the part of any
of the parties hereto, anything herein to the contrary notwithstanding and (ii) Rating Agency Confirmation shall have been
delivered to such Person.

 

8.10.          
Appointment of Co-Trustee or Separate Trustee. (a)  At any time or times, for the purpose of meeting any
legal requirements of any jurisdiction in which any part of the Property may at the time be located or in which any action of the
Trustee may be required to be performed or taken, the Trustee, the Depositor or the Holders of Certificates evidencing, in the
aggregate, a majority of the Voting Rights of the outstanding Certificates, by an instrument in writing signed by it or them, may
appoint one or more individuals or corporations to act as separate trustee or separate trustees or co-trustees, acting jointly
with the Trustee, of all or any part of the Property, to the full extent that local law makes it necessary for such separate trustee
or separate trustees or co-trustee acting jointly with the Trustee to act. The fees and expenses of any separate trustee or co-trustee
shall be paid by the Trust Fund pursuant to Section 3.4(c).

 

(b)              
The Trustee shall execute, acknowledge and deliver all such instruments as may be required by the legal requirements of
any jurisdiction or by any such separate trustee or separate trustees or co-trustee for the purpose of more fully conferring such
title, rights or duties to such separate trustee or separate trustees or co-trustee, it, he, she or they shall be vested with such
title to the Property or any part thereof, and with such rights, powers, duties and obligations as shall be specified in the instrument
of appointment, and such rights, powers, duties and obligations shall be conferred or imposed upon and exercised or performed by
the Trustee,

 

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or the Trustee and such separate trustee or separate trustees or co-trustees jointly with the Trustee subject to all
the terms of this Agreement, except to the extent that under any law of any jurisdiction in which any particular act or acts are
to be performed shall be exercised and performed by such separate trustee or separate trustees or co-trustee, as the case may be.
Any separate trustee or separate trustees or co-trustee may, at any time by an instrument in writing, constitute the Trustee, its
attorney-in-fact and agent with full power and authority to do all acts and things and to exercise all discretion on its behalf
and in its, her or his name. In the event that any such separate trustee or co-trustee shall die, become incapable of acting, resign
or be removed, the title to the Property and all assets, property, rights, powers, duties and obligations of such separate trustee
or co-trustee shall, so far as permitted by law, vest in and be exercised by the Trustee, without the appointment of a successor
to such separate trustee or co-trustee unless and until a successor is appointed.

 

(c)               
All provisions of this Agreement which are for the benefit of the Trustee and Certificate Administrator shall extend to
and apply to each separate trustee or co-trustee appointed pursuant to the foregoing provisions of this Section 8.10
and to the Trustee and Certificate Administrator in each capacity that it may assume hereunder, including, without limitation,
its capacity as Certificate Administrator, Certificate Registrar, Authenticating Agent, Paying Agent and 17g-5 Information Provider,
as applicable.

 

(d)              
Every co-trustee and separate trustee hereunder shall, to the extent permitted by law, be appointed and act and the Trustee
shall act, subject to the following provisions and conditions: (i) all powers, duties, obligations and rights conferred upon
the Trustee in respect of the receipt, custody, investment and payment of monies shall be exercised solely by the Trustee; (ii) all
other rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed and exercised
or performed by the Trustee and such co-trustee or trustees and separate trustee or trustees jointly except to the extent that
under any law of any jurisdiction in which any particular act or acts are to be performed, the Trustee shall be incompetent or
unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed
by such co-trustee or trustees; (iii) no power hereby given to, or exercisable by, any such co-trustee or separate trustee
shall be exercised hereunder by such co-trustee or separate trustees except jointly with, or with the consent of, the Trustee;
and (iv) no trustee hereunder shall be personally liable by reason of any act or omission of any other trustees hereunder.

 

If, at any time, the
Trustee shall deem it no longer necessary or prudent in order to conform to any such law, the Trustee shall execute and deliver
all instruments and agreements necessary or proper to remove any co-trustee or separate trustee. Notwithstanding the foregoing,
the appointment of a co-trustee or separate trustee by the Trustee shall not relieve the Trustee of its obligations, duties, or
responsibilities in any way or to any degree.

 

(e)               
Any request, approval or consent in writing by the Trustee to any co-trustee or separate trustee shall be sufficient warrant
to such co-trustee or separate trustee, as the case may be, to take such action as may be so required, approved or consented to.

 

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(f)                
Notwithstanding any other provision of this Section 8.10, the powers of any co-trustee or separate trustee shall
not exceed those of the Trustee hereunder, and such co-trustee or separate trustee must meet the eligibility requirements set forth
in Section 8.6.

 

8.11.           
Appointment of Authenticating Agent. (a)  The Certificate Administrator may appoint an agent or agents
which shall be authorized to act on behalf of the Certificate Administrator to authenticate Certificates (each such agent, an “Authenticating
Agent”), and Certificates so authenticated shall be entitled to the benefits of this Agreement and shall be valid and
obligatory for all purposes as if authenticated by the Certificate Administrator hereunder. Wherever a reference is made in this
Agreement to the authentication and delivery of Certificates by the Certificate Administrator or the Certificate Administrator’s
certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Certificate
Administrator by an Authenticating Agent and a certificate of authentication executed on behalf of the Certificate Administrator
by an Authenticating Agent. Each Authenticating Agent shall, at all times, be a corporation or association organized and doing
business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such law
to act as Authenticating Agent, having a combined capital and surplus of not less than $15,000,000, authorized under such laws
to do trust business and subject to supervision or examination by federal or state authorities. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If, at any time, an Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section. The initial Authenticating Agent shall be the Certificate Administrator.

 

(b)              
Any Person into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Person succeeding
to the corporate agency business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such
Person shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part
of the Certificate Administrator or the Authenticating Agent.

 

(c)               
An Authenticating Agent may resign at any time by giving at least 30 days’ advance written notice thereof to the Certificate
Administrator, the Servicer or Special Servicer, as applicable, and the Depositor. The Certificate Administrator may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent, the Servicer or
Special Servicer, as applicable, and the Depositor. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the
Certificate Administrator may appoint a successor Authenticating Agent and shall mail written notice of such appointment by first
class mail, postage prepaid to all Certificateholders as their names and addresses appear in the Certificate Register. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of
its predecessor hereunder, with like effect as if originally named as an

 

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Authenticating Agent herein. No successor Authenticating
Agent shall be appointed unless eligible under the provisions of this Section.

 

8.12.          
Indemnification by Trustee and the Certificate Administrator. The Trustee, and the Certificate Administrator, as
applicable, shall indemnify and hold harmless the Trust, the Depositor, the Servicer and the Special Servicer (each, for the purposes
of this Section 8.12 only, an “Indemnified Party”), from and against any claims, losses, damages, penalties,
fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses incurred by the Indemnified
Party in connection with this Agreement (including, without limitation, reasonable fees and disbursements of counsel incurred by
the Indemnified Party in any action or proceeding between the Indemnifying Party and the Indemnified Party or between the Indemnified
Party and any third party or otherwise) that arise out of or are based upon (i) a breach by the Trustee or the Certificate Administrator
of its representations and warranties made under this Agreement, or (ii) the negligence, bad faith, fraud or willful misconduct
on the part of the Trustee or the Certificate Administrator in the performance of its obligations or negligent disregard of its
obligations and duties under this Agreement.

 

The Certificate Administrator
shall indemnify and hold harmless the Depositor from and against any claims, losses, damages, penalties, fines, forfeitures, legal
fees and expenses and related costs, judgments and other costs and expenses incurred by the Depositor or its Affiliates that arise
out of or are based upon (i) a breach by the Certificate Administrator, in its capacity as 17g-5 Information Provider, of
its obligations under this Agreement or (ii) negligence, bad faith or willful misconduct on the part of the Certificate Administrator,
in its capacity as 17g-5 Information Provider, in the performance of such obligations or its negligent disregard of its obligations
and duties under this Agreement.

 

8.13.          
Certificate Administrator and Servicer Not Responsible for Inconsistent Payment Information. In connection with any
Distribution Date and a voluntary prepayment or the payment at maturity by the Borrower of the Whole Loan or any portion thereof,
the Certificate Administrator shall report the amount of such prepayment or payment to the Depository based on information received
from the Servicer or Special Servicer in reliance on notices received from the Borrower. In the event of any inconsistencies in
payments or prepayments made by the Borrower with the previously delivered notices by the Borrower, all costs and expenses incurred
as a result of a failure by the Borrower to make any such payments or prepayment, shall be paid by the Borrower in accordance with
the Loan Agreement; provided that the amount of payment reported to the Depository by the Certificate Administrator was
consistent with the information received from the Servicer or Special Servicer. If the Borrower fails to do so, such costs and
expenses shall be reimbursed to the Certificate Administrator and to the Servicer or Special Servicer, as applicable, by the Trust
pursuant to Section 3.4(c) from funds on deposit in the Collection Account. Neither the Certificate Administrator,
the Servicer nor the Special Servicer shall be liable for any inability or delay of the Depository to make a distribution as a
result of such inconsistencies. Notwithstanding the foregoing, the Certificate Administrator shall notify the Depository on the
Remittance Date or as soon as reasonably possible of any such inconsistencies.

 

8.14.           
Access to Certain Information. (a)  The Certificate Administrator shall afford to any Privileged Person
(other than the Rating Agencies and the Borrower Related

 

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Parties) and to the Office of the Comptroller of the Currency, the FDIC
and any other banking or insurance regulatory authority that may exercise authority over any Certificateholder or any Companion
Loan Holder (or any registered holder or beneficial holder of Senior Companion Loan Securities), access to any documentation regarding
the Whole Loan or the other assets of the Trust Fund that are in its possession or within its control including, without limitation:

 

(i)               
the Whole Loan files, including any and all modifications, waivers and amendments to the terms of the Whole Loan entered
into or consented to by the Servicer or the Special Servicer and delivered to the Certificate Administrator;

 

(ii)               
the annual, quarterly and monthly operating statements, if any, collected by or on behalf of the Servicer or Special Servicer,
as applicable, and delivered to the Certificate Administrator for the Property, and

 

(iii)              
all notices and reports delivered to the Certificate Administrator with respect to the Property as to which environmental
testing revealed any failure of the Property to comply with any applicable law, including any environmental law, or which revealed
an environmental condition present at the Property requiring further investigation, testing, monitoring, containment, clean up,
or remediation.

 

Such access shall be afforded without charge
but only upon reasonable prior written request and during normal business hours at the offices of the Certificate Administrator.

 

The Certificate Administrator
will provide copies of the items described in this Section 8.14(a) above upon reasonable written request of the Privileged
Persons. The Certificate Administrator may require payment for the reasonable costs and expenses of providing the copies and may
also require a confirmation executed by the requesting Person, in a form reasonably acceptable to the Certificate Administrator,
to the effect that the Person making the request is a Beneficial Owner or prospective purchaser of Certificates, is requesting
the information solely for use in evaluating its investment in the Certificates and will otherwise keep the information confidential.
Certificateholders, by the acceptance of their Certificates, will be deemed to have agreed to keep this information confidential.

 

(b)              
The Certificate Administrator shall make available to Privileged Persons, via the Certificate Administrator’s Website,
the following items (to the extent such items were prepared by or delivered to the Certificate Administrator in electronic format
to trustadministrationgroup@wellsfargo.com):

 

(i)               
The following “deal documents”:

 

(A)            
the Offering Circular and any other disclosure document relating to the Certificates, in the form most recently provided
to the Certificate Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)             
this Agreement, each sub-servicing agreement delivered to the Certificate Administrator since the Closing Date (if any),
the Loan Purchase Agreement and any amendments and exhibits hereto or thereto; and

 

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(C)             
the CREFC® Loan Setup File delivered to the Certificate Administrator by the Servicer;

 

(ii)               
The following “periodic reports”:

 

(A)            
all Distribution Date Statements prepared by the Certificate Administrator pursuant to Section 4.4(a); and

 

(B)             
all CREFC® Reports prepared by, or delivered to, the Certificate Administrator pursuant to Section 3.18(a)
other than the CREFC® Loan Setup File and the CREFC® Special Servicer Loan File;

 

(iii)               
The following “additional documents”:

 

(A)            
summaries of Asset Status Reports and Final Asset Status Reports delivered to the Certificate Administrator pursuant to
Section 3.10;

 

(B)             
all inspection reports delivered to the Certificate Administrator pursuant to Section 3.22;

 

(C)             
all Appraisals delivered to the Certificate Administrator pursuant to Section 3.7(a);

 

(D)            
operating statements and rent rolls; and

 

(E)             
any CREFC® Appraisal Reduction Template;

 

(iv)               
The following “special notices”:

 

(A)            
any notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 4.1(d);

 

(B)             
any notice of a Servicer Termination Event or Special Servicer Termination Event delivered to the Certificate Administrator
pursuant to Section 7.1(b);

 

(C)             
any and all Officer’s Certificates and other evidence delivered to or by the Certificate Administrator to support
its or the Servicer’s, as the case may be, determination that any Advance was (or, if made, would be) a Nonrecoverable Advance,
pursuant to Section 3.23(f);

 

(D)            
any Special Notice delivered to the Certificate Administrator pursuant to Section 5.6;

 

(E)             
any Annual Statements as to Compliance and related Officer’s Certificates delivered under Section 3.19;

 

(F)              
any Annual Independent Public Accountants’ Servicing Reports delivered pursuant to Section 3.20;

 

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(G)            
any notice of termination of the Servicer or the Special Servicer delivered to the Certificate Administrator pursuant to
Section 7.1(c);

 

(H)            
any request by the Certificateholders representing at least 25% of the Voting Rights to terminate the Special Servicer pursuant
to Section 7.1(d);

 

(I)               
any notice of resignation of the Trustee or Certificate Administrator and any notice of the acceptance of appointment by
the successor Trustee or successor Certificate Administrator pursuant to Section 8.7;

 

(J)               
whether a Subordinate Control Period or Subordinate Consultation Period is in effect; and

 

(K)            
any notice or documents provided to the Certificate Administrator by the Depositor or the Servicer directing the Certificate
Administrator to post such notice or document to the “Special Notices” tab;

 

(v)               
the “Investor Q&A Forum” pursuant to Section 4.5(a);

 

(vi)             
solely to Certificateholders and Beneficial Owner of Certificates, the “Investor Registry” pursuant to Section 4.5(b);
and

 

(vii)           
the “U.S. Risk Retention Special Notices” tab.

 

The Certificate Administrator
will, in addition to posting the applicable notices under such the “U.S. Risk Retention Special Notices” tab, provide
email notification to any Privileged Person (other than market data providers) that has registered to receive access to the Certificate
Administrator’s Internet Website that a notice has been posted to the “U.S. Risk Retention Special Notices” tab.

 

The Servicer, the Special
Servicer, the Certificate Administrator and the Trustee may each rely on (i) an Investor Certification in the form of Exhibit
J-1 hereto from the Directing Holder or a Controlling Class Certificateholder or the Risk Retention Consultation Party to the
effect that such Person is not a Borrower Related Party and (ii) an Investor Certification in the form of Exhibit J-2 hereto
from the Directing Holder or a Controlling Class Certificateholder or the Risk Retention Consultation Party to the effect that
such Person is a Borrower Related Party. In the event the Directing Holder or a Controlling Class Certificateholder or the Risk
Retention Consultation Party becomes a Borrower Related Party, such party shall promptly notify each of the Servicer, the Special
Servicer, the Certificate Administrator and the Trustee in writing substantially in the form of Exhibit J-2 that such party
is a Borrower Related Party and thereafter shall not be entitled to any information made available on the Certificate Administrator’s
Website other than the Distribution Date Statement. None of the Servicer, the Special Servicer or the Certificate Administrator
shall be liable for any communication to the Directing Holder or Controlling Class Certificateholder or the Risk Retention Consultation
Party or disclosure of information if the Servicer, the Special Servicer or the Certificate Administrator, as applicable, did not
receive prior written notice that the Directing Holder or a Controlling Class Certificateholder or the Risk Retention Consultation
Party is a Borrower Related Party. Each of the Servicer, the Special Servicer and the Certificate Administrator shall be entitled
to

 

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conclusively rely on (i) any written notice from the Directing Holder or a Controlling Class Certificateholder that it is not
or is no longer an Excluded Controlling Class Holder and (ii) any certification delivered by the Directing Holder or a Controlling
Class Certificateholder or the Risk Retention Consultation Party, as applicable, substantially in the form of Exhibit J-1
that such Person is not or is no longer a Borrower Related Party.

 

The foregoing information
shall be made available by the Certificate Administrator on the Certificate Administrator’s Website promptly following receipt.
The Certificate Administrator shall have no obligation or duty to verify, confirm or otherwise determine whether the information
being delivered is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports
to be. In the event that any such information is delivered or posted in error, the Certificate Administrator may remove it from
the Certificate Administrator’s Website. The Certificate Administrator has not obtained and shall not be deemed to have obtained
actual knowledge of any information posted to the Certificate Administrator’s Website to the extent such information was
not produced by the Certificate Administrator. In connection with providing access to the Certificate Administrator’s Website,
the Certificate Administrator may require registration and the acceptance of a disclaimer. The Certificate Administrator shall
not be liable for the dissemination of information in accordance with the terms of this Agreement, makes no representations or
warranties as to the accuracy or completeness of such information being made available, and assumes no responsibility for such
information. Assistance in using the Certificate Administrator’s Website may be obtained by calling (866) 846-4526. The Certificate
Administrator shall provide a mechanism to notify each Person that has signed-up for access to the Certificate Administrator’s
Website in respect of the transaction governed by this Agreement each time an additional document is posted to the Certificate
Administrator’s Website. For purposes of receiving any information or report from the Certificate Administrator’s Website,
other than Distribution Date Statements only, the Borrower, property manager, or an Affiliate thereof (as evidenced by its submission
of an Investor Certification in the form of Exhibit J-1 hereto) shall be deemed to not be a “Privileged Person”.

 

The Certificate Administrator
and the 17g-5 Information Provider shall make available solely to the Depositor and to NRSROs (including the Rating Agency) the
following items to the extent such items are delivered to it via email at 17g5informationprovider@wellsfargo.com, specifically
with a subject reference of “Natixis Commercial Mortgage Securities Trust 2019-NEMA” and an identification of the type
of information being provided in the body of the email, or via any alternate email address following notice to the parties hereto
or any other delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial:

 

(i)               
any Asset Status Report delivered by the Special Servicer under Section 3.10(i);

 

(ii)               
notice of final payments on the Certificates

 

(iii)             
any environmental reports delivered by the Special Servicer under Section 3.12(d);

 

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(iv)      
       any Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.7(a);

 

(v)              
any Annual Statements as to Compliance and related Officer’s Certificates delivered under Section 3.19;

 

(vi)             
any Annual Independent Public Accountants’ Servicing Reports delivered pursuant to Section 3.20;

 

(vii)            
any property inspections delivered pursuant to Section 3.22;

 

(viii)           
any requests for Rating Agency Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.27(a);

 

(ix)              
any notice to the Rating Agencies and each rating agency relating to the Senior Companion Loan Securities, as applicable,
relating to the Servicer’s, Special Servicer’s or Trustee’s determination to take action without receiving Rating
Agency Confirmation as set forth in Section 3.27(a);

 

(x)               
any information requested by the Depositor or the Rating Agencies pursuant to Section 3.21(b) (it being understood
the 17g-5 Information Provider shall not disclose on the 17g-5 Information Provider’s Website which Rating Agency requested
such information as provided in Section 3.21(b));

 

(xi)              
any notice of resignation of the Trustee and any notice of the acceptance of appointment by the successor Trustee delivered
to the Certificate Administrator pursuant to Section 8.7;

 

(xii)            
any and all Officer’s Certificates and other evidence delivered to the Certificate Administrator by the Trustee or
the Servicer, as the case may be, relating to a determination that any Advance was (or, if made, would be) a Nonrecoverable Advance,
pursuant to Section 3.23(f);

 

(xiii)           
any notice of a Servicer Termination Event or Special Servicer Termination Event delivered to the Certificate Administrator
pursuant to Section 7.1(b);

 

(xiv)          
any summary of oral communications with the Rating Agencies that are delivered to the 17g-5 Information Provider pursuant
to Section 8.14(c); provided that the summary of such oral communications shall not attribute which Rating Agency
the communication was with;

 

(xv)            
any information authorized by the Depositor to be made available pursuant to Section 4.4(b);

 

(xvi)          
this Agreement, each sub-servicing agreement delivered to the Certificate Administrator since the Closing Date (if any),
the Loan Purchase Agreement and any amendments and exhibits hereto or thereto;

 

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(xvii)         
any notice of termination of the Servicer or the Special Servicer delivered to the Certificate Administrator pursuant to
Section 7.1(c);

 

(xviii)       
all CREFC® Reports prepared by, or delivered to, the 17g-5 Information Provider pursuant to Section 3.18(b);

 

(xix)           
all inspection reports delivered to the 17g-5 Information Provider pursuant to Section 3.22; and

 

(xx)             
the Rating Agency Q&A Forum and Document Request Tool pursuant to Section 4.5(d).

 

The foregoing information
shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website (a link to which shall
be provided on the Depositor’s website at www.intralinks.com, or such other website as to which the Depositor may notify
the parties hereto in writing). Information will be posted on the same Business Day of receipt provided that such information
is received by 2:00 p.m. (eastern time) or, if received after 2:00 p.m., on the next Business Day by 12:00 p.m. (eastern time).
The 17g-5 Information Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information
being delivered is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports
to be or whether such information (other than (solely with respect to the 17g-5 Information Provider’s obligation to post
such information) the information set forth in clauses (i) through (xx) above) is required to be posted on the 17g-5 Information
Provider’s Website pursuant to this Agreement or Rule 17g-5. If any information is delivered or posted in error, the 17g-5
Information Provider may remove it from the 17g-5 Information Provider’s Website. The Certificate Administrator and the 17g-5
Information Provider have not obtained and shall not be deemed to have obtained actual knowledge of any information posted to the
17g-5 Information Provider’s Website to the extent such information was not produced by the Certificate Administrator. Access
will be provided by the 17g-5 Information Provider to the Rating Agencies, and to the NRSROs upon receipt of an NRSRO Certification
in the form of Exhibit L hereto (which certification may be submitted electronically via the 17g-5 Information Provider’s
Website). Access will be provided by the 17g-5 Information Provider on the same Business Day if such Exhibit L is submitted
prior to 2:00 p.m. on such Business Day, or, if such Exhibit L is received after 2:00 p.m., on the following Business Day.
Questions regarding delivery of information to the 17g-5 Information Provider may be directed to (866) 846-4526 or 17g5informationprovider@wellsfargo.com
(or such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto).

 

Upon delivery by the
Depositor to the 17g-5 Information Provider of information designated by the Depositor as pre-closing information from the Depositor’s
17g-5 Website (the “Pre-close Information”), the 17g-5 Information Provider shall make such information available
only to the Depositor and to NRSROs via the 17g-5 Information Provider’s Website pursuant to this Section 8.14(b).
Such information shall be provided to the 17g-5 Information Provider via electronic media and delivered to the 17g-5 Information
Provider as mutually agreed. The Depositor shall not be entitled to direct the 17g-5 Information Provider to provide access to
the Pre-close Information or any other information on the 17g-5 Information Provider’s Website to any designee or third party.

 

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The Certificate Administrator
and the 17g-5 Information Provider shall provide a mechanism to promptly notify each Person that has signed-up for access to the
Certificate Administrator’s Website or the 17g-5 Information Provider’s Website, as applicable, in respect of the transaction
governed by this Agreement each time an additional document is posted thereto and such notice shall specifically identify such
document in the subject line or otherwise in the body of the email. The 17g-5 Information Provider shall send such notice to such
Person’s email address provided by and used by such Person for the purpose of accessing the 17g-5 Information Provider’s
Website, including a general email address if such general email address has been provided to the 17g-5 Information Provider in
connection with a completed NRSRO Certification. In connection with providing access to the 17g-5 Information Provider’s
Website, the Certificate Administrator and the 17g-5 Information Provider, as applicable, may require registration and the acceptance
of a disclaimer. The Certificate Administrator and the 17g-5 Information Provider shall not be liable for the dissemination of
information in accordance with the terms of this Agreement, make no representations or warranties as to the accuracy or completeness
of such information being made available, and assume no responsibility for any such information for which it is not the original
source. The 17g-5 Information Provider shall not be liable for failing to make any information available to any NRSROs unless the
same was delivered to it at its email address set forth above, with the proper subject heading. Assistance in using the Certificate
Administrator’s Website or the 17g-5 Information Provider’s Website can be obtained by calling (866) 846-4526.

 

(c)               
Each of the Servicer and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt,
also make available through its website or otherwise (and, as to the Certificate Administrator, shall make available all information
as necessary to enable the Certificate Administrator to comply with Section 8.14(b)) and any additional information
relating to the Whole Loan, the Property or the Borrower, for review by the Trustee, the Certificate Administrator, the Companion
Loan Holders, any other Persons who deliver an Investor Certification in accordance with this Section 8.14(c), and
the Rating Agencies (only to the extent such additional information is simultaneously delivered to the 17g-5 Information Provider
in accordance with the provisions of Section 8.14(b), who shall post such additional information on the 17g-5 Information
Provider’s Website in accordance with the provisions of Section 8.14(b)) (collectively, the “Disclosure
Parties”) in each case except to the extent doing so is prohibited by applicable law or by the Whole Loan. The Servicer
or the Special Servicer as the case may be, shall be entitled to (i) indicate the source of such information and affix thereto
any disclaimer it deems appropriate in its discretion and/or (ii) require that the recipient of such information (A) except
for the Certificate Administrator and the Trustee, enter into an Investor Certification or other confidentiality agreement acceptable
to the Servicer or the Special Servicer, as the case may be, and (B) acknowledge that the Servicer or the Special Servicer
may contemporaneously provide such information to any other Disclosure Party. In addition, to the extent access to such information
is provided via the Servicer’s or the Special Servicer’s website, the Servicer and the Special Servicer may require
registration and the acceptance of a reasonable and customary disclaimer and/or an additional or alternative agreement as to the
confidential nature of such information. In connection with providing access to or copies of the items described in Section 8.14(b)
to Certificateholders, the Servicer or the Special Servicer, as applicable, shall require: (a) in the case of a Certificateholder
or a licensed or registered investment advisor acting on behalf of such Certificateholder, an Investor Certification executed by
the requesting Person indicating that such Person is a Holder

 

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of Certificates and will keep such information confidential (except
that such Certificateholder may provide such information to its auditors, legal counsel and regulators and to any other Person
that holds or is contemplating the purchase of any Certificate or interest therein (provided that such other Person confirms
in writing such ownership interest or prospective ownership interest and agrees to keep such information confidential)); and (b) in
the case of a prospective purchaser of Certificates or interests therein, an Investor Certification indicating that such Person
is a prospective purchaser of a Certificate or an interest therein and is requesting the information for use in evaluating a possible
investment in Certificates and will otherwise keep such information confidential. In the case of a licensed or registered investment
advisor acting on behalf of a current or prospective Certificateholder, the Investor Certification shall be executed and delivered
by both the investment advisor and such current or prospective Certificateholder.

 

Neither the Servicer
nor the Special Servicer shall be liable for the dissemination of information in accordance with this Agreement. Neither the Servicer
nor the Special Servicer shall be responsible or have any liability for the completeness or accuracy of the information delivered,
produced or otherwise made available pursuant to this Section 8.14(c) unless such information was produced by the Servicer
or Special Servicer, as applicable.

 

The Servicer, the Special
Servicer, the Certificate Administrator and the Trustee shall be permitted to (but not obligated to) orally communicate with the
Rating Agency provided that such party summarizes the information provided to the Rating Agency in such communication and
provides the 17g-5 Information Provider with such summary in accordance with the procedures set forth in Section 8.14(b)
on the same day such communication takes place; provided that the summary of such oral communications shall not be attributed
to the Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary on the 17g-5 Information
Provider’s website in accordance with the procedures set forth in Section 8.14(b).

 

(d)              
None of the foregoing restrictions in this Section 8.14 or otherwise in this Agreement shall prohibit or restrict oral or
written communications, or providing information, between the Servicer or the Special Servicer, on the one hand, and any Rating
Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the ratings it assigns
to the Servicer or the Special Servicer, as applicable, (ii) such Rating Agency’s or NRSRO’s approval of the Servicer
or the Special Servicer, as applicable, as a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s
or NRSRO’s evaluation of the Servicer’s or the Special Servicer’s, as applicable, servicing operations in general;
provided, that the Servicer or the Special Servicer, as applicable, shall not provide any information relating to the Certificates
or the Whole Loan to any Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO unless
(x) Borrower, property and other deal specific identifiers are redacted; (y) such information has already been provided to
the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider's Website or (z) the Rating Agency has
confirmed in writing to the Servicer or Special Servicer, as applicable, that it does not intend to use such information in undertaking
credit rating surveillance for any Class of Certificates; provided, however, that the Rating Agencies may use information
delivered in reliance on the certification provided in this clause (z) for any purpose to the extent it is publicly available (unless
the availability results from a breach of this Agreement or any other confidentiality agreement to which such rating agency is

 

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subject) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s Website
(or another 17g-5 information provider’s website such Rating Agency has access to) (in each case, subject to any agreement
governing the use of such information, including any engagement letter with the Depositor or any other applicable depositor).

 

9.                 
CERTAIN MATTERS RELATING TO THE DIRECTING HOLDER AND RISK RETENTION CONSULTATION PARTY

 

9.1.             
Selection and Removal of the Directing Holder and Risk Retention Consultation Party

 

(a)               
[Reserved.]

 

(b)              
The Directing Holder shall be selected (i)(a) for so long as no Note B-2 Control Appraisal Period shall have commenced and
shall be continuing, by the holder of Note B-2; (b) for so long as a Note B-2 Control Appraisal Period exists and no Note B-1 Control
Appraisal Period shall have commenced and shall be continuing, by the holder of Note B-1; and (ii) if a Note B-1 Control Appraisal
Period and a Note B-2 Control Appraisal Period shall have both commenced and shall both be continuing, by the Majority Controlling
Class Certificateholders, as determined by the Certificate Registrar from time to time; provided that in the case of a Directing
Holder to be appointed by the Majority Controlling Class Certificateholders, (A) absent such appointment, or (B) until a Directing
Holder is so appointed, or (C) upon receipt by the Servicer, the Special Servicer and the Certificate Administrator of notice from
the Majority Controlling Class Certificateholders that a Directing Holder is no longer so designated, the Controlling Class Certificateholder
which owns and is identified (with contact information) to the Servicer, the Special Servicer, the Trustee and the Certificate
Administrator as owning, the largest aggregate Certificate Balance of Certificates of the Controlling Class shall be the Directing
Holder. In the case of a Directing Holder to be appointed by the Majority Controlling Class Certificateholders, each Holder of
the Certificates of the Controlling Class shall be entitled to vote in each election of the Directing Holder. Notwithstanding anything
to the contrary herein, each of the Trustee and the Certificate Administrator may conclusively rely on any Investor Certification
provided to it in connection with the foregoing and may require that Investor Certifications are resubmitted from time to time
in accordance with its policies and procedures.

 

The Risk Retention Consultation
Party shall be selected by the holders of more than 50% of the RR Interest. Each Holder of an RR Interest shall be entitled to
vote in each election of the Risk Retention Consultation Party. Notwithstanding anything to the contrary herein, each of the Trustee
and the Certificate Administrator may conclusively rely on any Investor Certification provided to it in connection with the foregoing
and may require that Investor Certifications are resubmitted from time to time in accordance with its policies and procedures.

 

The Special Servicer
shall reasonably determine whether a Control Appraisal Period has occurred upon receipt of each updated Appraisal and in accordance
with the applicable terms and provisions of this Agreement, and if such event has occurred or if it has

 

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actual knowledge that such
event has occurred or if it has actual knowledge that the Controlling Note Holder is the Borrower or a Borrower Related Party it
shall notify each of the parties hereto and the Companion Loan Holders of such event and that the Directing Holder is, for so long
as a Control Appraisal Period exists or the Companion Loan Majority Holder is the Borrower or a Borrower Related Party, the Majority
Controlling Class Certificateholders. The Certificate Administrator shall provide notice of such event to the Certificateholders
by posting notice to such effect on the Certificate Administrator’s Website as a “special notice”. The Certificate
Administrator shall notify each of the parties hereto of the occurrence of a Subordinate Consultation Period or Subordinate Control
Period with respect to the Certificates.

 

(c)               
The initial Directing Holder is Natixis, New York Branch. The Controlling Note Holder or the Majority Controlling Class
Certificateholders, as applicable, shall give written notice to the Trustee, the Certificate Administrator, the Servicer and the
Special Servicer of the appointment of any subsequent Directing Holder (in order to receive notices hereunder).

 

The initial Risk Retention
Consultation Party is NREC. The Holder of the RR Interest shall give written notice to the Trustee, the Certificate Administrator,
the Servicer and the Special Servicer of the appointment of any subsequent Risk Retention Consultation Party (in order to receive
notices hereunder)

 

(d)              
The Directing Holder may be removed at any time by the written vote of the Junior Companion Loan Holder or the Majority
Controlling Class Certificateholders, as applicable, and a copy of the results of such vote must be delivered to the Certificate
Administrator and the Trustee.

 

The Risk Retention Consultation
Party may be removed at any time by the written vote of the holders of more than 50% of the RR Interest, and a copy of the results
of such vote must be delivered to the Certificate Administrator and the Trustee.

 

(e)               
Each Controlling Class Certificateholder is hereby deemed to have agreed by virtue of its purchase of a Certificate to provide
its name and address to the Certificate Administrator and to notify the Certificate Administrator of the transfer of any Certificate
of the Controlling Class, the selection of a Directing Holder or the resignation or removal thereof. Any Certificateholder or its
designee at any time appointed Directing Holder is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify
the Certificate Administrator when such Certificateholder or its designee is appointed Directing Holder and when it is removed
or resigns. Upon receipt of such notice, the Certificate Administrator shall notify the Trustee, the Special Servicer and the Servicer
of the identity of the Directing Holder and any resignation or removal thereof. In addition, upon the request of the Servicer or
the Special Servicer, as applicable, the Certificate Administrator shall provide the name of the then-current Directing Holder
and a list of the Certificateholders (or Beneficial Owners, if applicable, at the expense of the requesting party) of the Controlling
Class to such requesting party.

 

Each Holder of the RR
Interest is hereby deemed to have agreed by virtue of its purchase of a Certificate to provide its name and address to the Certificate
Administrator and to notify the Certificate Administrator of the transfer of any RR Interest, the selection of a Risk

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Retention
Consultation Party or the resignation or removal thereof. Any Certificateholder or its designee at any time appointed Risk Retention
Consultation Party is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify the Certificate Administrator
when such Certificateholder or its designee is appointed Risk Retention Consultation Party and when it is removed or resigns. Upon
receipt of such notice, the Certificate Administrator shall notify the Trustee, the Special Servicer and the Servicer of the identity
of the Risk Retention Consultation Party and any resignation or removal thereof. In addition, upon the request of the Servicer
or the Special Servicer, as applicable, the Certificate Administrator shall provide the name of the then-current Risk Retention
Consultation Party and a list of the Holders (or Beneficial Owners, if applicable, at the expense of the requesting party) of the
RR Interest to such requesting party.

 

(f)               
Once a Directing Holder has been selected, each of the Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Trustee and each other Certificateholder (or Beneficial Owner, if applicable) shall be entitled to rely on any written notice
of such selection unless the Majority Controlling Class Certificateholders or the Controlling Note Holder, as applicable, shall
have notified each other party to this Agreement and each other Certificateholder of the Controlling Class, in writing, of the
resignation of such Directing Holder or the selection of a new Directing Holder.

 

Once a Risk Retention
Consultation Party has been selected, each of the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator
and each other Certificateholder (or Certificate Owner, if applicable) shall be entitled to rely on any written notice of such
selection unless the Holders of the RR Interest entitled to appoint the Risk Retention Consultation Party, by Certificate Balance,
or such Risk Retention Consultation Party shall have notified the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator and each other Holder of the RR Interest, in writing, of the selection of a new Risk Retention Consultation Party.

 

(g)              
Until it receives notice to the contrary, each party to this Agreement shall be entitled to rely on the most recent notification
with respect to the identity of the Certificateholders of the Controlling Class, the Risk Retention Consultation Party and the
Directing Holder. Any written notice to the Trustee, the Certificate Administrator, the Servicer and the Special Servicer of the
appointment of any Directing Holder other than the initial Directing Holder will be required to state that such subsequent Directing
Holder is not a Borrower, property manager or any of their affiliates. The Servicer may request that the Certificate Administrator
provide the names of the Majority Controlling Class Certificateholders, and the Servicer will be able to conclusively rely on such
information.

 

(h)              
Until it receives notice to the contrary, each of the Servicer, the Special Servicer, the Certificate Administrator and
the Trustee shall be entitled to rely on the most recent notification with respect to the identity of the Controlling Class Certificateholder,
the Directing Certificateholder and the Risk Retention Consultation Party.

 

(i)                
Each of the Directing Holder and the Risk Retention Consultation Party shall be responsible for its own expenses.

 

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(j)                
The Certificate Administrator shall forward any notice it receives with respect to the identity of the Controlling Class
Certificateholders (to the extent the Certificate Administrator has received notice of a change in the identity of the Controlling
Class Certificateholders), to the parties to the Co-Lender Agreement, to the extent the identity and contact information of such
parties to such Co-Lender Agreement are actually known to the Certificate Administrator.

 

9.2.             
Limitation on Liability of Directing Holder and Risk Retention Consultation Party; Acknowledgements of the Certificateholders.

 

None of the Controlling
Class, the Directing Holder or the Risk Retention Consultation Party shall be liable to the Trust Fund or the Certificateholders
for any action taken, or for refraining from the taking of any action for errors in judgment.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest (iii) do not have any duties or liability to the
Trust or the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion Loans or
the interests of one or more Classes of the Certificates or of the RR Interest over other Classes of the Certificates, (v) shall
have no liability whatsoever to the Trust, the other parties to hereto, the Certificateholders or any other person (including any
Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted hereunder.

 

9.3.             
Rights and Powers of the Directing Holder, the Risk Retention Consultation Party and the Subordinate Note Holders.

 

(a)               
Notwithstanding anything herein to the contrary, except as set forth in, and in any event subject to, Section 3.24(d)
and (e), Section 9.3(b), Section 9.3(c) and the second and third paragraphs of this Section 9.3(a),
(i) the Servicer shall not be permitted to take any of the actions constituting a Major Decision unless it has obtained the consent
of the Special Servicer, which consent will be deemed given if the Special Servicer does not object within 15 Business Days (or
90 days with regard to the determination of an Acceptable Insurance Default) unless such actions are part of an Asset Status Report
approved by the Directing Holder under Section 3.10(h) (after delivery of a written recommendation and analysis to the Special
Servicer and information reasonably requested by the Special Servicer), (ii) for so long as a Subordinate Control Period is in
effect, the Special Servicer shall not be permitted to (A) consent to the Servicer’s taking any of the actions constituting
a Major Decision, or (B) take any of the actions

 

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constituting a Major Decision, but subject to Section 3.10(h) as to which
the Directing Holder has objected in writing within 10 Business Days after receipt of the written recommendation and analysis and
information reasonably requested by the Directing Holder from the Special Servicer (provided that if such written objection
has not been received by the Special Servicer within such 10 Business Day period, then the Directing Holder shall be deemed to
have approved such action), (iii) the Special Servicer shall also consult on a non-binding basis with the Risk Retention Consultation
Party (unless the Risk Retention Consultation Party is a Borrower Related Party) and (iv) the Special Servicer shall also consult
on a non-binding bases with the holders of the Non-Trust A Notes (provided that after the expiration of a period of 10 Business
Days from the delivery to a holder of a Non-Trust A Note by the Special Servicer of written notice of a proposed action, the Special
Servicer shall no longer by obligated to consult with such holder of a Non-Trust A Note). In the event that the Special Servicer
or Servicer, as applicable, determines that immediate action, with respect to a Major Decision, or any other matter requiring consent
of the Directing Holder during any Subordinate Control Period or consultation with the Directing Holder, the Risk Retention Consultation
Party or the holders of the Non-Trust A Notes during any Subordinate Consultation Period under this Agreement, is necessary to
protect the interests of the Certificateholders, the Special Servicer or Servicer, as applicable may take any such action without
waiting for the Directing Holder’s or the Risk Retention Consultation Party’s response. The Special Servicer is not
required to obtain the consent of the Directing Holder for any Major Decision during any Subordinate Consultation Period; provided,
that, during any Subordinate Consultation Period, the Special Servicer shall consult with the Directing Holder in connection with
any Major Decision (and such other matters that are subject to consent, approval, direction or non-binding consultation rights
of the Directing Holder hereunder) and consider alternative actions recommended by the Directing Holder, in respect thereof; provided,
further, that the Special Servicer shall consult with the Risk Retention Consultation Party in connection with any Major
Decision and consider alternative actions recommended by the Risk Retention Consultation Party in respect thereof; and provided,
further that, the Special Servicer shall consult with the holders of the Non-Trust A Notes in connection with any Major
Decision and consider alternative actions recommended by the holders of the Non-Trust A Notes in respect thereof.

 

In addition, for so long
as a Subordinate Control Period is in effect, subject to Section 9.3(b), Section 9.3(c) and the immediately following
paragraph, the Directing Holder may direct the Special Servicer to take, or to refrain from taking, such other actions with respect
to the Whole Loan as the Directing Holder may reasonably deem advisable.

 

If the Special Servicer
or Servicer, as applicable, determines that a refusal to consent of the Directing Holder during any Subordinate Control Period
or consultation with the Directing Holder, the Risk Retention Consultation Party or the holders of the Non-Trust A Notes during
any Subordinate Consultation Period under this Agreement would (A) otherwise require or cause the Special Servicer or Servicer,
as applicable, to violate the terms of the Loan Documents, applicable law, provisions of the Code resulting in an Adverse REMIC
Event or resulting in the Grantor Trust failing to qualify as a “grantor trust” or this Agreement, (including without
limitation, actions inconsistent with Accepted Servicing Practices), or (B) expose any Certificateholder, the Servicer, the Special
Servicer, the Certificate Administrator, the Trustee or the Trust or their respective Affiliates, officers, directors or agent
to any claim, suit or liability, (C) result in the imposition of a tax upon the Trust, loss of “grantor trust status”
or loss of

 

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REMIC status or (D) materially expand the scope of the Special Servicer’s, the Servicer’s, the Trustee’s
or the Certificate Administrator’s responsibilities hereunder, then the Special Servicer or Servicer, as applicable, shall
disregard such refusal to consent, direction or advice and notify the Directing Holder, the Risk Retention Consultation Party or
the holders of the Non-Trust A Notes, as applicable, and the Trustee, the Certificate Administrator and the 17g-5 Information Provider
of its determination, including a reasonably detailed explanation of the basis therefor. The taking of, or refraining from taking,
any action by the Servicer or Special Servicer in accordance with the direction of or approval of the Directing Holder, Risk Retention
Consultation Party or the holders of the Non-Trust A Notes that does not violate the Loan Documents, this Agreement, any applicable
law, provisions of the Code resulting in an Adverse REMIC Event or resulting in the Grantor Trust failing to qualify as a “grantor
trust” or Accepted Servicing Practices or any other provisions of this Agreement, shall not result in any liability on the
part of the Servicer or the Special Servicer. The Servicer may request that the Certificate Administrator provide the names of
the Majority Controlling Class Certificateholders, and the Servicer will be able to conclusively rely on such information.

 

(b)              
Notwithstanding anything to the contrary contained herein (i) after the termination of a Subordinate Control Period,
the Directing Holder shall have no right to consent to or direct any action taken or not taken by any party to this Agreement;
(ii) during any Subordinate Consultation Period, the Directing Holder shall remain entitled to receive any notices, reports
or information to which it is entitled pursuant to this Agreement, and the Servicer, Special Servicer and any other applicable
party shall consult with the Directing Holder in connection with any action to be taken or refrained from taking to the extent
set forth herein; and (iii) after the termination of any Subordinate Consultation Period, the Directing Holder shall have
no direction, consultation or consent rights hereunder and no right to receive any notices, reports or information (other than
notices, reports or information required to be delivered to all Certificateholders) or any other rights as Directing Holder.

 

If a Subordinate Control
Period is again in effect following the termination of such period, then the Companion Loan Holders or the Controlling Class, as
applicable, shall regain all the consent and direction rights of the Controlling Class set forth in this Agreement (including,
without limitation, the right to appoint a Directing Holder).

 

(c)               
For purposes of determining the Directing Holder, exercising any rights of the Controlling Class or the Directing Holder
or receiving Asset Status Reports or any other information under this Agreement other than Distribution Date Statements, any holder
of any interest in a Controlling Class Certificate who is a Borrower Related Party shall not be deemed to be a holder of the related
Controlling Class and shall not be entitled to exercise such rights or receive such information. If, as a result of the preceding
sentence, no holder of Controlling Class Certificates would be eligible to exercise such rights, there will be no Directing Holder.

 

(d)              
The Servicer or the Special Servicer as the case may be, shall provide copies of any notice, information and report that
it is required to provide to the Directing Holder pursuant to this Agreement with respect to any Major Decisions, to the holders
of the Non-Trust A Notes within the same time frame it is required to provide to the Directing Holder.

 

9.4.            
Directing Holder Contact with Servicer and Special Servicer.

 

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Upon reasonable request,
each of the Servicer and the Special Servicer shall, without charge, make a Servicing Officer available to answer questions from
the Directing Holder (during any Subordinate Control Period) regarding the performance and servicing of the Whole Loan (or, in
the case of the Special Servicer, the Special Servicer’s operational activities on a platform level basis related to the
servicing of the Whole Loan after a Special Servicing Loan Event and the servicing of any Foreclosed Property) for which the Servicer
or the Special Servicer, as the case may be, is responsible.

 

Notwithstanding any provision
of this Agreement to the contrary, the failure of the Servicer or the Special Servicer to disclose any information otherwise required
to be disclosed by it pursuant to this Agreement shall not constitute a breach of this Agreement if the Servicer or the Special
Servicer, as applicable, determines, in its reasonable and good faith judgment and consistent with the Accepted Servicing Practices,
that such disclosure would constitute a waiver of the attorney-client privilege on behalf of the Trust or the Trust Fund or otherwise
materially harm the Trust or the Trust Fund.

 

10.             
TERMINATION

 

10.1.          
Termination. (a)  The respective obligations and responsibilities of the Servicer, the Special Servicer,
the Depositor, the Certificate Administrator and the Trustee created hereby (other than (i) the obligation to make certain payments
to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments to Certificateholders
after the final Distribution Date and (iii) the indemnification rights and obligations of the parties hereto) shall terminate upon
the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to this Article 10
following the later of (i) the final payment on the Certificates and the Uncertificated Lower-Tier Interests or (ii) the
liquidation of the Trust Loan (including, without limitation, the sale of the Trust Loan pursuant to this Agreement), or the liquidation
or abandonment of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall
the Trust continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy,
the late ambassador of the United States to the Court of St. James’s, living on the date hereof.

 

(b)              
On the final Distribution Date, all amounts on deposit in the Collection Account and not otherwise payable to a person other
than the Certificateholders, shall be applied generally as described in Section 4.1.

 

(c)               
Notice of any termination, specifying the final Distribution Date (which shall be a date that would otherwise be a Distribution
Date) upon which the Certificateholders of any Class may surrender their Certificates to the Certificate Administrator for payment
of the final distribution and cancellation, shall be given promptly by the Certificate Administrator by letter to Certificateholders
mailed as soon as practicable specifying (A) the final Distribution Date upon which final payment of the Certificates shall
be made upon presentation and surrender of Certificates at the office or agency of the Certificate Administrator therein designated,
(B) the amount of any such final payment and (C) that the Record Date otherwise applicable to such Distribution Date
is not applicable, payments being made only upon presentation and surrender of the Certificates at the office or agency of the
Certificate Administrator therein specified.

 

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10.2.         
Additional Termination Requirements. In connection with any termination pursuant to Section 10.1 other
than final payment on the Whole Loan, the Trust Fund shall be terminated in accordance with the following additional requirements,
unless the Certificate Administrator has received at the expense of the Trust Fund, an Opinion of Counsel that any other manner
of terminating either the Lower-Tier REMIC or the Upper-Tier REMIC will not subject the Trust Fund, the Lower-Tier REMIC or the
Upper-Tier REMIC to federal income tax:

 

(i)                
Within 89 days prior to the final Distribution Date, the Certificate Administrator shall designate the first day of the
90-day liquidation period of the Lower-Tier REMIC and the Upper-Tier REMIC which shall be specified in a notice from the Certificate
Administrator to the Certificateholders as soon as practicable prior to such final Distribution Date, and shall specify such date
in the final tax return of each such Trust REMIC;

 

(ii)               
At or after the time of adoption of such plan of complete liquidation and at or prior to the final scheduled Distribution
Date, the Special Servicer shall sell any remaining assets (other than cash) of the Trust Fund and credit the proceeds thereof
to the Trust Fund; and

 

(iii)               
At or after such time as the proceeds from the disposition of the remaining assets of the Trust Fund shall have been credited
to the Trust Fund, the Certificate Administrator shall cause all remaining amounts held (A) as part of the Lower-Tier REMIC
to be distributed to the Certificate Administrator as Holder of the Uncertificated Lower-Tier Interests and to the Holders of the
Class R Certificates (in respect of the Class LT-R Interest) in accordance with Section 4.1(b), (B) as part
of the Upper-Tier REMIC to be distributed to the Certificate Administrator as Holder of the Regular Interests and to the Holders
of the Class R Certificates (in respect of the Class UT-R Interest) and (C) as part of the Grantor Trust to be distributed
to the Certificateholders in accordance with Section 4.1(a), Section 4.1(b) and Section 4.1(g),
as applicable.

 

10.3.          
Trusts Irrevocable. Except as expressly provided herein, all trusts created hereby are irrevocable.

 

11.             
MISCELLANEOUS PROVISIONS

 

11.1.           Amendment.
(a)  This Agreement may be amended from time to time by the parties hereto, without the consent of any of the Certificateholders
or the Companion Loan Holders:

 

(i)                 
to correct any inconsistency, defect or ambiguity in this Agreement or to correct any manifest error in any provision of
this Agreement;

 

(ii)               
to cause the provisions in this Agreement to conform or be consistent with or in furtherance of the statements made in the
Offering Circular with respect to the Certificates, the Trust or this Agreement or to correct or supplement any of its provisions
that may be inconsistent with any other provisions therein or correct any error (including, but not limited to, the amount and
priority of distributions to the Certificateholders);

 

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(iii)             
to change the timing and/or nature of deposits in the Collection Account, the Distribution Account or the Foreclosed Property
Account, provided that (a) the Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of (x) any Certificateholder (including,
for the avoidance of doubt, any Holder of an RR Interest) or holder of Senior Companion Loan Securities, in each case, as evidenced
by a Rating Agency Confirmation or (y) any Companion Loan Holder;

 

(iv)             
to modify, eliminate or add to any of its provisions to the extent necessary to maintain the qualification of either the
Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the
Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Lower-Tier
REMIC or the Upper-Tier REMIC that would be a claim against the Lower-Tier REMIC or the Upper-Tier REMIC or the Grantor Trust;
provided that the Trustee, the Certificate Administrator and the Depositor have received an Opinion of Counsel (at the expense
of the party requesting the amendment) to the effect that (1) the action is necessary or desirable to maintain such qualification
or to avoid or minimize the risk of imposition of any such tax and (2) the action will not adversely affect in any material respect
the interests of any holder of the Certificates (including, for the avoidance of doubt, any Holder of an RR Interest) or holder
of Senior Companion Loan Securities;

 

(v)               
to modify, eliminate or add to any of its provisions to restrict (or to remove any existing restrictions with respect to)
the transfer of the Class R Certificates; provided that the Depositor has determined that the amendment will not give
rise to any tax with respect to the transfer of the Class R Certificates to a non-Permitted Transferee; provided, further,
that the Depositor may conclusively rely upon an Opinion of Counsel (a copy of which shall be delivered to the Trustee and the
Certificate Administrator) to such effect;

 

(vi)               
to make any other provisions with respect to matters or questions arising under this Agreement or any other change, provided
that the required action shall not adversely affect in any material respect the interests of (x) any Certificateholder (including,
for the avoidance of doubt, any Holder of an RR Interest) or holder of Senior Companion Loan Securities, in each case, as evidenced
by a Rating Agency Confirmation or (y) any Companion Loan Holder;

 

(vii)            
to amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each
Class of Certificates or Senior Companion Loan Securities by each Rating Agency and each rating agency relating to the Senior Companion
Loan Securities, as evidenced by Rating Agency Confirmation;

 

(viii)          
to modify the provisions hereof with respect to reimbursement of Nonrecoverable Advances if (a) the Depositor, the
Servicer, and, to the extent that the Trustee has the obligation to make Advances, the Trustee, determine that the commercial mortgage
backed securities industry standard for such provisions has changed, in order to conform to such industry standard, (b) such
modification will not cause the Lower-Tier

 

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REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust
to fail to qualify as a grantor trust, as evidenced by an Opinion of Counsel (at the expense of the party requesting the amendment
or at the expense of the Trust Fund if the Trustee is the requesting party), (c) Rating Agency Confirmation is obtained and (d)
during any Subordinate Control Period, the Directing Holder consents to such modification; and

 

(ix)              
to modify the procedures herein relating to Exchange Act Rule 17g-5; provided that such modification does not
materially increase the obligations of the Trustee, the Certificate Administrator, the 17g-5 Information Provider, the Servicer
or the Special Servicer without the consent of such party.

 

(b)              
This Agreement may also be amended by the parties to this Agreement with the consent of the holders of Certificates of each
Class affected by such amendment (including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case,
not less than 51% of the aggregate Percentage Interests constituting the Class and any Companion Loan Holder if materially and
adversely affected, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the holders of the Certificates, except that the amendment may not
directly (i) reduce in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate
without the consent of the holder of such Certificate or which are required to be distributed to any Companion Loan Holder without
the consent of each Companion Loan Holder, (ii) reduce the aforesaid percentage of Certificates of any Class the holders of which
are required to consent to the amendment, without the consent of the holders of all Certificates of that Class then outstanding
and the consent of any affected Companion Loan Holder, (iii) adversely affect the Voting Rights of any Class of Certificates, without
the consent of the holders of all Certificates of that Class then outstanding, (iv) change in any manner the obligations of the
Loan Seller under the Loan Purchase Agreement without the consent of the Loan Seller, (v) amend Accepted Servicing Practices without,
in each case, the consent of 100% of the holders of Certificates adversely affected by such amendment and the consent of any affected
Companion Loan Holder, and Rating Agency Confirmation with respect to such amendment or (vi) change in any manner the rights and/or
obligations of the Companion Loan Holders without the consent of the Companion Loan Holders.

 

(c)               
Notwithstanding any contrary provision contained in this Agreement, no amendment to this Agreement may be made that changes
in any manner the rights and/or obligations of the Loan Seller under this Agreement or under the Loan Purchase Agreement without
the consent of the Loan Seller, or the rights of any Initial Purchaser hereunder without the written consent of such Initial Purchaser
or that adversely affects the rights (including, without limitation, as a third party beneficiary hereunder) and/or the obligations,
if any, of a Companion Loan Holder hereunder without the consent of such Companion Loan Holder, and the Trustee and Certificate
Administrator may, but will not be obligated to, enter into any amendment to this Agreement that it determines affects its rights,
duties or immunities or creates any additional liability for the Certificate Administrator and Trustee under this Agreement.

 

(d)              
It shall not be necessary for the consent of Certificateholders under this Section 11.1 to approve the particular
form of any proposed amendment, but it shall be sufficient

 

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if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Certificate Administrator may prescribe.

 

(e)               
Notwithstanding the foregoing, no amendment may be made to this Agreement unless the Certificate Administrator, the Trustee,
the Servicer and the Special Servicer have first received an Opinion of Counsel (at the expense of the requesting party, if applicable,
and otherwise or if at the Trustee’s or the Certificate Administrator’s request, then at the Trust Fund’s expense)
to the effect that the amendment is authorized or permitted under this Agreement and all conditions precedent have been met and
that the amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the
Certificate Administrator or any other specified person in accordance with the amendment, will not result in the imposition of
any tax on any portion of the Trust or cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC
or cause the Grantor Trust to fail to qualify as a grantor trust under the Code.

 

(f)               
Promptly after the execution of any amendment to this Agreement, the Certificate Administrator shall post a copy of the
same to the Certificate Administrator’s Website, deliver a copy of the same to the 17g-5 Information Provider who shall post
a copy of the same on the 17g-5 Information Provider’s Website pursuant to Section 8.14(b), and thereafter, the
Certificate Administrator shall furnish written notification of the substance of such amendment to each Certificateholder, the
Depositor, the Servicer, the Special Servicer, the Borrower, the Initial Purchasers and the Rating Agencies.

 

(g)              
In the event that neither the Depositor nor any successor thereto is in existence, any amendment under this Section 11.1
shall be effected with the consent of the Trustee, the Certificate Administrator and the Servicer or Special Servicer, as applicable,
and, to the extent required by this Section 11.1, the required Certificateholders.

 

(h)              
Unless otherwise specified in Section 11.1(a), the costs and expenses associated with any such amendment, including
without limitation, Opinions of Counsel and Rating Agency Confirmations, shall be borne by the party requesting such amendment
(or, if such amendment is required by any of the Rating Agencies to maintain the rating issued by it or requested by the Trustee
or the Certificate Administrator for any purpose described in Section 11.1(a) (which do not modify or otherwise relate
solely to the obligations, duties or rights of the Trustee or the Certificate Administrator), then at the expense of the Depositor
and, if neither the Depositor nor any successor thereto is in existence, the Trust Fund).

 

11.2.         
Recordation of Agreement; Counterparts. (a)  This Agreement or an abstract hereof, if acceptable by the
applicable recording office, is subject to recordation in all appropriate public offices for real property records in the county
in which the Property subject to the Mortgage is situated, and in any other appropriate public recording office or elsewhere, such
recordation to be effected by the Trustee or the Certificate Administrator at the expense of the Trust upon its receipt of an Opinion
of Counsel to the effect that such recordation materially and beneficially affects the interests of the Certificateholders of the
Trust. Each Other Servicer shall be entitled to enforce the rights of the Other Trustee with respect to the related Companion Loan
under this Agreement and the Co-Lender Agreement.

 

     -207-

     

    

 

(b)              
For the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement
may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and
such counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of
this Agreement in Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed
original counterpart of this Agreement.

 

11.3.           
Governing Law; Submission to Jurisdiction; Waiver of Trial by Jury. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION
AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES HERETO
INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

EACH OF THE PARTIES HERETO
IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE
UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT;
(II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING IN ANY
SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW; AND (IV) CONSENTS TO SERVICE
OF PROCESS UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR NOTICES HEREUNDER.

 

TO THE FULLEST EXTENT
PERMITTED UNDER APPLICABLE LAW, EACH PARTY HERETO WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, ANY ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, IN ANY ACTION,
PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY PARTY AGAINST THE OTHER PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS,
TORT CLAIMS, OR OTHERWISE. EACH PARTY HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT
A JURY.

 

11.4.          
Notices. All demands, notices and communications hereunder shall be in writing, shall be deemed to have been given
upon receipt (except that notices to Holders of any Class of Certificates held in registered, definitive form shall be deemed to
have been given upon being sent by first class mail, postage prepaid) as follows:

 

     -208-

     

    

 

If to the Trustee, to:

 

Wells Fargo Bank, National Association

Corporate Trust Services

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services — NCMS 2019-NEMA

with a copy to:

Email: cts.cmbs.bond.admin@wellsfargo.com and 

trustadministrationgroup@wellsfargo.com

 

If to the Certificate Administrator,
to:

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: CMBS – Corporate
Trust Services NCMS 2019-NEMA

Telephone: (410) 884-2000

 

with a copy to:

 

Email: trustadministrationgroup@wellsfargo.com;

cts.cmbs.bond.admin@wellsfargo.com

  

If to the Certificate Registrar
for surrender, transfer or exchange of Certificates:

 

Wells Fargo Bank, National Association

600 South 4th Street, 7th Floor

MAC N9300-070

Minneapolis, Minnesota 55479

 

If to the Custodian:

 

Wells Fargo Bank, National Association

1055 10th Avenue SE

Minneapolis, Minnesota 55414

Attention: Mortgage Document Custody Services – NCMS 2019-NEMA

Email: cmbscustody@wellsfargo.com

 

If to the 17g-5 Information Provider,
electronically to 

17g5informationprovider@wellsfargo.com

 

     -209-

     

    

 

If to the Depositor, to:

 

Natixis Commercial Mortgage Securities LLC

1251 Avenue of the Americas
 

New York, New York 10020

 

with copies to:

Natixis Commercial Mortgage Securities LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Margaret Lam

Facsimile number: (212) 891-6100

 

and:

 

Cadwalader, Wickersham & Taft
LLP

One World Financial Center

New York, New York 10281

Attention: Jeffrey Rotblat

Facsimile number: (212) 504-6666

Email: jeffrey.rotblat@cwt.com;

 

If to the Servicer, to:

KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael Tilden

Email: michael_a_tilden@keybank.com

 

with a copy to:

 

Polsinelli

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Email: kkhoring@polsinelli.com

 

If to the Special Servicer, to:

 

Situs Holdings, LLC

101 Montgomery Street, Suite 2250

San Francisco, California 94104

Attention: Stacey Ciarlanti

Email: stacey.ciarlanti@situs.com;

 

     -210-

     

    

 

with a copy to:

Situs Group, LLC

5065 Westheimer, Suite 700E

Houston, Texas 77056

Attention: Legal Department

Email: legal@situs.com

 

If to Natixis Securities Americas
LLC, to:

Natixis Securities Americas LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Office of the General Counsel

 

Email: CMBSlegal.notices@natixis.com

 

If to Credit Suisse Securities
(USA) LLC, to:

 

Credit Suisse Securities (USA) LLC

11 Madison Avenue, 4th Floor

New York, New York 10010

Attention: Chuck Lee

Facsimile number: (212) 322-0965

Email: chuck.lee@credit-suisse.com 

 

with a copy to:

Credit Suisse Commercial Real Estate & CMBS

11 Madison Avenue, 11th Floor

New York, New York 10010

Attention: Barbara Nottebohm

Facsimile number: (212) 743-2823

Email: barbara.nottebohm@credit-suisse.com

 

If to the initial
Directing Holder as of the Closing Date, to:

Natixis, New York Branch

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile number: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

with a copy to:

Natixis, New York Branch

Office of Chief Operating Officer

 

     -211-

     

    

1251 Avenue of the Americas

New York, New York 10020

Facsimile number: (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

 

and for all legal
notices, also by email to:

 

legal.notices@natixis.com

 

If to the Risk
Retention Consultation Party, to:

Natixis Real Estate Capital LLC

1251 Avenue
of the Americas

New York, New
York 10020

Attention:
Real Estate Administration

Email: USCIBGlobalFinanceAssetManagementTeam@natixis.com

 

and for all
legal notices, with a copy to:

 

Natixis North
America LLC

Office of the General Counsel

1251 Avenue of the Americas

New York, New York 10020

Email: legal.notices@natixis.com

 

If to any Certificateholder,
to:

the address set forth in the Certificate Register,

 

If to the Borrower, to:

at the address therefor set forth in the Loan Agreement

 

or, in the case of the parties to this
Agreement, to such other address as such party shall specify by written notice to the other parties hereto.

 

11.5.           Notices to the Rating Agencies. Any notices or documents required to be delivered to the Rating Agencies under this
Agreement and any other information regarding the Trust Fund as may be reasonably requested by the Rating Agencies from any party
hereto to the extent such party has or can obtain such information without unreasonable effort or expense shall be delivered to
the Rating Agencies at the addresses set forth below; provided, however, that such information is first provided
to the 17g-5 Information Provider in accordance with the

 

     -212-

     

    

 

procedures set forth in Section 8.14(b); and then such information
may, but is not required to, be delivered to the Rating Agencies directly, promptly, but not earlier than two Business Days after
such information is provided to the 17g-5 Information Provider, provided, further, that responses, information, reports
and communications with respect to any Rating Agency Inquiry conducted or submitted on the Rating Agency Q&A Forum and Document
Request Tool shall not be required to be delivered to the 17g-5 Information Provider. In connection with the delivery by the Servicer
or the Special Servicer to the 17g-5 Information Provider of any information, report, notice or document for posting to the 17g-5
Information Provider’s Website, the 17g-5 Information Provider shall notify the Servicer or Special Servicer, as applicable,
of when such information, report, notice or document has been posted to the 17g-5 Information Provider’s Website. The Servicer
or Special Servicer, as applicable, may, but is not obligated to, send such information, report, notice or other document to the
applicable Rating Agency following the earlier of (a) receipt of such notice from the 17g-5 Information Provider and (b) the second
Business Day after it has provided such information, report, notice or other document to the 17g-5 Information Provider. The 17g-5
Information Provider shall not disclose which Rating Agency has requested such information. Notwithstanding the foregoing, the
failure to deliver such notices or copies shall not constitute a Servicer Termination Event or Special Servicer Termination Event,
as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required hereunder shall be in
writing.

 

Any notices to the Rating Agencies
shall be sent to the following addresses:

Moody’s Investors Service, Inc.

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

Email: CMBSSurveillance@moodys.com

Morningstar Credit Ratings, LLC

4 World Trade Center, 48th Floor

150 Greenwich Street

New York, New York 10007

Attention: CMBS Surveillance

Email: cmbsratings@morningstar.com

 

11.6.                   
Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then, to the extent permitted by applicable law, such covenants, agreements, provisions
or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in
no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of
the Holders thereof.

 

 

11.7.                   
Limitation on Rights of Certificateholders. The death or incapacity of any Certificateholder shall not operate to
terminate this Agreement or the Trust Fund, nor entitle such Certificateholder’s legal representative or heirs to claim an
accounting or to take any action 

     -213-

     

    

 

or to commence any proceeding in any court for a petition or winding up of the Trust Fund, or
otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.

 

No Certificateholder,
solely by virtue of its status as a Certificateholder, shall have any right to vote (except as provided herein) or in any manner
otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything
herein set forth or contained in the terms of the Certificates be construed so as to constitute the Certificateholders from time
to time as partners or members of an association; nor shall any Certificateholders be under any liability to any third party by
reason of any action by the parties to this Agreement pursuant to any provision hereof.

 

No Certificateholder,
solely by virtue of its status as a Certificateholder, shall have any right by virtue or by availing itself of any provisions of
this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement,
unless such Holder previously shall have given to the Trustee a written notice of a Servicer Termination Event or Special Servicer
Termination Event, as the case may be, and of the continuance thereof, as herein before provided, and unless the Holders of Certificates
aggregating not less than 25% of the Voting Rights of the Certificates shall also have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable
indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Trustee, for
60 days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such
action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Certificateholder with every
other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatever
by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of
the Holders of any other of the Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder
except as provided herein with respect to entitlement to payments or to enforce any right under this Agreement, except in the manner
herein provided and for the common benefit of all Certificateholders. For the protection and enforcement of the provisions of this
Section, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in
equity.

 

11.8.                   
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for obligations
of the Trust Fund, the interests in the Trust Fund represented by the Certificates shall be nonassessable for any reason whatsoever,
and the Certificates, upon due authentication thereof by the Certificate Administrator pursuant to this Agreement, are and shall
be deemed fully paid.

 

11.9.                   
Reproduction of Documents. This Agreement and all documents relating thereto, including, without limitation, (i) consents,
waivers and modifications which may hereafter be executed, (ii) documents received by any party at the closing, and (iii) financial
statements, certificates and other information previously or hereafter furnished, may be reproduced by any photographic, photostatic,
microfilm, micro-card, miniature photographic or other similar process. The parties agree that any such reproduction shall be admissible
in evidence as the original itself in any judicial or administrative proceeding, whether or not the

 

     -214-

     

    

 

original is in existence and
whether or not such reproduction was made by a party in the regular course of business, and that any enlargement, facsimile or
further reproduction of such reproduction shall likewise be admissible in evidence.

 

11.10.               
No Partnership. Nothing herein contained shall be deemed or construed to create a partnership or joint venture between
the parties hereto.

 

11.11.               
Actions of Certificateholders. (a)  Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or
more instruments of substantially similar tenor signed by such Certificateholders in person or by agent duly appointed in writing;
and except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered
to the Certificate Administrator and, where required, to the Depositor, the Trustee, the Servicer or the Special Servicer. Proof
of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement
and conclusive in favor of the Certificate Administrator, the Trustee, the Depositor, the Servicer and the Special Servicer if
made in the manner provided in this Section.

 

(b)              
The fact and date of the execution of any Certificateholder of any such instrument or writing may be proved in any reasonable
manner which the Certificate Administrator deems sufficient.

 

(c)               
Any request, demand, authorization, direction, notice, consent, waiver, or other act by a Certificateholder shall bind every
Holder of every Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect
of anything done, or omitted to be done, by the Trustee, the Certificate Administrator, the Depositor, the Servicer or the Special
Servicer in reliance thereon, whether or not notation of such action is made upon such Certificate.

 

(d)              
The Certificate Administrator may require additional proof of any matter referred to in this Section as it shall deem reasonably
necessary.

 

11.12.               
Successors and Assigns. The rights and obligations of any party hereto shall not be assigned (except pursuant to
Section 6.2, 6.4, 8.7 or 8.9 hereof) by such party without the prior written consent of the other
parties hereto. This Agreement shall inure to the benefit of and be binding upon the Depositor, the Servicer, the Special Servicer,
the Certificate Administrator and the Trustee and their respective permitted successors and assigns. No Person other than a party
to this Agreement, the Initial Purchasers and any Certificateholder shall have any rights with respect to the enforcement of any
of the rights or obligations hereunder. Without limiting the foregoing, the parties to this Agreement specifically agree that (i)
the Loan Seller shall be a third party beneficiary of this Agreement with respect to any provisions relating to the Loan Seller,
(ii) each Companion Loan Holder shall be a third party beneficiary of this Agreement with respect to any provisions relating to
the Companion Loan Holders, (iii) each Senior Companion Loan Depositor and Senior Companion Loan Exchange Act Reporting Party shall
be a third party beneficiary of this Agreement with respect to its rights under Article 13 and (iv) no Borrower, property manager
or other party to the Trust Loan is an intended third party

 

     -215-

     

    

 

beneficiary of this Agreement (provided that the Borrower shall
be entitled to notices to the extent expressly provided herein).

 

11.13.               
Acceptance by Authenticating Agent, Certificate Registrar and Custodian. The Certificate Administrator hereby accepts
its appointment as Authenticating Agent, Certificate Registrar and Custodian and agrees to perform the obligations required to
be performed by it in each such capacity pursuant to the terms of this Agreement.

 

11.14.               
Streit Act. Any provisions required to be contained in this Agreement by Section 126 and/or Section 130-k
or Article 4-A of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition to those
conferred or imposed by this Agreement; provided, however, that to the extent that such Section 126 and/or 130-k
shall not have any effect, and if said Section 126 and/or Section 130-k should at any time be repealed or cease to apply
to this Agreement or be construed by judicial decision to be inapplicable, said Section 126 and/or Section 130-k shall
cease to have any further effect upon the provisions of this Agreement. In a case of a conflict between the provisions of this
Agreement and any mandatory provisions of Article 4-A of the New York Real Property Law, such mandatory provisions of said Article
4-A shall prevail, provided that if said Article 4-A shall not apply to this Agreement, should at any time be repealed,
or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, such mandatory provisions of such
Article 4-A shall cease to have any further effect upon the provisions of this Agreement.

 

11.15.               
Assumption by Trust of Duties and Obligations of the Lender Under the Loan Documents. The Trustee and Certificate
Administrator on behalf of the Trust as assignee of the Trust Loan and the Servicer and Special Servicer hereby acknowledge that
the Trust assumes all of the rights and obligations of the lender under the Loan Documents and agrees to be bound thereby, and
in accordance with the terms thereof. Such acknowledgement on behalf of the Trust is made by the Trustee, the Certificate Administrator,
the Servicer and the Special Servicer in the exercise of the powers and authority conferred and vested in it and is intended for
the purpose of binding only the Trust. Nothing contained in this Section shall be construed as creating any liability on the part
of the Trustee, Certificate Administrator, Servicer or Special Servicer, individually or personally, it being agreed that all liabilities
and obligations being acknowledged as assumed are solely those of the Trust, and under no circumstances shall the Trustee, Certificate
Administrator, Servicer or Special Servicer be liable personally for the breach or failure of any obligation, representation, warranty
or covenant made or undertaken by the Trust under this Agreement, any Loan Document or any related document.

 

12.             
REMIC ADMINISTRATION

 

12.1.          
REMIC Administration. (a)  The parties intend that each of the Lower-Tier REMIC and the Upper-Tier REMIC
shall constitute, and that the affairs of each of the Lower-Tier REMIC and the Upper-Tier REMIC shall be conducted so as to qualify
it as, a REMIC, and the provisions hereof shall be interpreted consistently with this intention.

 

(b)              
The Certificate Administrator shall make or cause to be made an election on behalf of each of the Lower-Tier REMIC and the
Upper-Tier REMIC to treat the segregated pool of assets constituting such Trust REMIC as a REMIC under the Code. Each such election

 

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shall be made on IRS Form 1066 or other appropriate federal tax or information return for the taxable year ending on the last day
of the calendar year in which the Certificates are issued.

 

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

 

(d)              
The Certificate Administrator shall prepare or cause to be prepared, and file or cause to be filed with the IRS, on behalf
of each of the Lower-Tier REMIC and the Upper-Tier REMIC, an application for a taxpayer identification number for such Trust REMIC
on IRS Form SS-4 or obtain such number by other permissible means. Within thirty days of the Closing Date, the Certificate Administrator
shall furnish or cause to be furnished to the Internal Revenue Service, on IRS Form 8811 or as otherwise may be required by the
Code, the name, title and address of the Persons that Holders of the Certificates may contact for tax information relating thereto
(and the Certificate Administrator shall act as the representative of each of the Lower-Tier REMIC and the Upper-Tier REMIC for
this purpose), together with such additional information as may be required by such Form, and shall update such information at
the time or times and in the manner required by the Code (and the Depositor agrees within 10 Business Days of the Closing Date
to provide any information reasonably requested by the Servicer or the Certificate Administrator and necessary to make such filing).

 

(e)               
The Certificate Administrator shall pay without any right of reimbursement the ordinary and usual expenses in connection
with the preparation, filing and mailing of tax information reports and returns that are incurred by it in the ordinary course
of its business, but extraordinary or unusual expenses, costs or liabilities incurred in connection with its tax-related duties
under this Agreement, including without limitation any expenses, costs or liabilities associated with audits or any administrative
or judicial proceedings with respect to the Lower-Tier REMIC or the Upper-Tier REMIC that involve the IRS or state tax authorities,
shall be reimbursable from the Trust Fund.

 

(f)               
The Certificate Administrator shall prepare, or cause to be prepared, timely furnish or cause to be timely furnished to
the Trustee to sign (and the Trustee shall timely sign), and the Certificate Administrator shall file or cause to be filed all
federal, state and local income or franchise or other tax and information returns for each of the Lower-Tier REMIC and the Upper-Tier
REMIC as the direct representative for such Trust REMIC. Except as provided in Section 11.1(e), the expenses of preparing
and filing such returns shall be borne by the Certificate Administrator. The Depositor shall provide on a timely basis to the Certificate
Administrator or its designee such information with respect to each of the Lower-Tier REMIC and the Upper-Tier REMIC as is in its
possession, and is reasonably requested by the Certificate Administrator to enable it to perform its obligations under this subsection
(f), and the Certificate Administrator shall be entitled to rely on such information in the performance of its obligations
hereunder.

 

(g)              
The Certificate Administrator shall perform on behalf of each of the Lower-Tier REMIC and the Upper-Tier REMIC all reporting
and other tax compliance duties

 

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that are the responsibility of such Trust REMIC under the Code, the REMIC Provisions, or other
compliance guidance issued by the IRS or any state or local taxing authority. Among its other duties, the Certificate Administrator
shall provide (i) to the IRS or other Persons (including, but not limited to, the transferor of a Class R Certificate
to a Disqualified Organization or to an agent that has acquired a Class R Certificate on behalf of a Disqualified Organization)
such information as is necessary for the application of any tax relating to the transfer of a Class R Certificate to any Disqualified
Organization and (ii) to the Certificateholders such information or reports as are required by the Code or REMIC Provisions.
The Depositor shall provide on a timely basis (and in no event later than 30 days after the Certificate Administrator’s request)
to the Certificate Administrator or its designee such information with respect to each of the Lower-Tier REMIC and the Upper-Tier
REMIC as is in its possession and is reasonably requested in writing by the Certificate Administrator to enable it to perform its
obligations under this subsection (g).

 

(h)              
The Certificate Administrator shall be the “partnership representative” within the meaning of Section 6223 of
the Code of the Upper-Tier REMIC and the Lower-Tier REMIC. The Holders of the Class R Certificates, by acceptance of the Class R
Certificates, agree, on behalf of themselves and all successor Holders of such Class R Certificates, to the irrevocable appointment
of the Certificate Administrator as the “partnership representative” for the Upper-Tier REMIC and the Lower-Tier REMIC.

 

(i)                
The Certificate Administrator, the Holders of the Class R Certificates, the Servicer and the Special Servicer shall
perform their obligations under this Agreement and the REMIC Provisions in a manner consistent with the status of each of the Lower-Tier
REMIC and the Upper-Tier REMIC as a REMIC.

 

(j)                
The Certificate Administrator, any Holder of the Class R Certificates, the Servicer and the Special Servicer shall
not take any action or cause either the Lower-Tier REMIC or the Upper-Tier REMIC to take any action, within their respective control
and the scope of their specific respective duties under this Agreement that, under the REMIC Provisions, could reasonably be expected
to (i) cause of either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or (ii) unless permitted
under Section 12.2(a), result in the imposition of a tax upon either the Lower-Tier REMIC or the Upper-Tier REMIC (including
but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax on prohibited
contributions as defined in Section 860G(d) of the Code) (any such result in clause (i) or (ii), an “Adverse
REMIC Event”) unless (A) the Certificate Administrator and the Servicer have received a Nondisqualification Opinion
(at the expense of the party seeking to take such action or of the Trust Fund if taken for the benefit of the Certificateholders)
with respect to such action or (B) the Certificate Administrator and the Servicer have received an opinion (at the expense
of the party seeking to take such action or of the Trust Fund if taken for the benefit of the Certificateholders) to the effect
that such action will not cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC and that no tax
will actually be imposed.

 

(k)              
Any and all federal, state and local taxes imposed on the Upper-Tier REMIC or the Lower-Tier REMIC or its assets or transactions,
including, without limitation, “prohibited transaction” taxes as defined in Section 860F of the Code, and any
tax on contributions imposed by Section 860G(d) of the Code, shall be paid from the Collection

 

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Account; provided that
the Servicer, upon two days prior written notice, shall remit from the Collection Account to the Certificate Administrator the
amount of any such tax that the Certificate Administrator notifies the Servicer is due; provided, further, that if
such taxes shall have been imposed on account of the willful misconduct, bad faith or negligence of any party hereto, or in connection
with the breach of any representation or warranty made by any party hereto in this Agreement, then such taxes shall be paid by
such party.

 

(l)                
The Certificate Administrator shall, for federal income tax purposes, maintain books and records with respect to the Lower-Tier
REMIC and the Upper-Tier REMIC on a calendar year and on an accrual basis. Notwithstanding anything to the contrary contained herein
or in the Loan Documents (but subject to Section 1.3), all amounts collected on the Whole Loan shall, for federal income
tax purposes, be allocated first to interest due and payable on the Whole Loan (including interest on overdue interest) other than
Default Interest. The books and records must be sufficient concerning the nature and amount of the investments of the Lower-Tier
REMIC and the Upper-Tier REMIC to show that such Trust REMIC has complied with the REMIC Provisions.

 

(m)            
None of the Certificate Administrator, the Trustee, the Servicer or the Special Servicer shall enter into any arrangement
by which either the Lower-Tier REMIC or the Upper-Tier REMIC will receive a fee or other compensation for services.

 

(n)              
In order to enable the Certificate Administrator to perform its duties as set forth herein, the Depositor shall provide,
or cause to be provided, to the Certificate Administrator within 10 days after the Closing Date, all information or data that the
Certificate Administrator reasonably determines to be relevant for tax purposes on the valuations and offering prices of the Certificates,
including, without limitation, the yield, issue prices, pricing prepayment assumption and projected cash flows of the Certificates
and the Class R Certificates, as applicable, and the projected cash flows on the Whole Loan. Thereafter, the Depositor, the
Trustee, the Servicer and the Special Servicer shall provide to the Certificate Administrator, promptly upon request therefor,
any such additional information or data that the Certificate Administrator may, from time to time, reasonably request in order
to enable the Certificate Administrator to perform its duties as set forth herein. The Certificate Administrator is hereby directed
to use any and all such information or data provided by the Trustee, the Depositor, the Servicer and the Special Servicer in the
preparation of all federal, state or local income, franchise or other tax and information returns and reports for each of the Lower-Tier
REMIC and the Upper-Tier REMIC to Certificateholders as required herein. The Depositor hereby indemnifies the Certificate Administrator
for any losses, liabilities, damages, claims or expenses of the Certificate Administrator arising from any errors or miscalculations
of the Certificate Administrator pursuant to this Section 12.1 that result from any failure of the Depositor to provide
or to cause to be provided, accurate information or data to the Certificate Administrator (but not resulting from the methodology
employed by the Certificate Administrator) on a timely basis and such indemnifications shall survive the termination of this Agreement
and the termination of the Certificate Administrator.

 

The Certificate Administrator
agrees that all such information or data so obtained by it shall be regarded as confidential information and agrees that it shall
use its best reasonable efforts to retain in confidence, and shall ensure that its officers, employees and representatives

 

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retain
in confidence, and shall not disclose, without the prior written consent of the Depositor, any or all of such information or data,
or make any use whatsoever (other than for the purposes contemplated by this Agreement) of any such information or data without
the prior written consent of the Depositor, unless such information is generally available to the public (other than as a result
of a breach of this Section 12.1) or is required by law or applicable regulations to be disclosed.

 

(o)       The
Certificate Administrator’s authority under this Agreement includes the authority to make, and the Certificate Administrator
is hereby directed to make, any elections allowed under the Code (i) to avoid the application of Section 6221 of the Code (or successor
provisions) to either Trust REMIC and (ii) to avoid payment by either Trust REMIC under Section 6225 of the Code (or successor
provisions) of any tax, penalty, interest or other amount imposed under the Code that would otherwise be imposed on any Holder
of a Class R Certificate, past or present. Holders of a Class R Certificates, by acquiring such Certificates, agree to any such
elections.

 

12.2.                   
Foreclosed Property. (a)  The parties hereto acknowledge and understand that if the Trust Fund were to
acquire the Property as Foreclosed Property and were to own and operate the Property in a manner consistent with the manner in
which the Property is currently owned and operated by the Borrower, through a Successor Manager, some portion or all of the income
derived in the Lower-Tier REMIC from such Foreclosed Property may be considered “net income from foreclosure property”
for purposes of Section 860G(c) of the Code and subject to tax at the corporate income tax rate.

 

In determining whether
to acquire and hold any Foreclosed Property, the Special Servicer, acting on behalf of the Trustee hereunder, shall take these
circumstances into account and shall only acquire any such Foreclosed Property if it determines, in its reasonable judgment (after,
consultation with counsel, at the expense of the Trust Fund), that either (i) there is a commercially feasible alternative
method of administering such Foreclosed Property that would not result in such tax, e.g., a net lease that results in Rents from
Real Property or (ii) the likely recovery with respect to operating the Foreclosed Property on behalf of the Trust Fund and
the Companion Loan Holders, after taking into account any such taxes that might be imposed on either the Lower-Tier REMIC or the
Upper-Tier REMIC, will exceed the likely recovery to the Trust Fund if the Trust Fund were to net lease the Foreclosed Property
or were not to acquire and hold the Foreclosed Property. If the Trust Fund acquires any Foreclosed Property, the Special Servicer,
acting on behalf of the Trustee, if the property manager would not be considered an Independent Contractor, shall either renegotiate
the management agreement (if any) or replace the property manager with a Successor Manager (as appropriate and to the extent permitted
under such management agreement) so that the Foreclosed Property would be considered to be operated by an Independent Contractor.
If, after making the foregoing reasonable efforts, the Special Servicer determines that it is in the best interests of Certificateholders
on a net after-tax basis to operate the Foreclosed Property in a manner such that the Lower-Tier REMIC or Upper-Tier REMIC shall
receive, based upon an Opinion of Counsel, “net income from foreclosure property” under the REMIC Provisions, the Special
Servicer shall maintain or cause to be maintained such records of income and expense as to enable such amounts to be computed accurately,
and shall pay or retain or cause to be paid or retained from Foreclosure Proceeds such

 

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amounts as are necessary to pay such tax
or, to the extent such amounts are insufficient, from the Collection Account pursuant to Section 3.4(c)(x).

 

Without limiting the
generality of the foregoing, the Special Servicer shall not, to the extent within its power:

 

(i)               
permit the Trust Fund to enter into, renew or extend any new lease with respect to the Foreclosed Property, if the new lease
by its terms will give rise to any income that does not constitute Rents from Real Property;

 

(ii)               
permit any amount to be received or accrued under any new lease other than amounts that will constitute Rents from Real
Property;

 

(iii)               
authorize or permit any construction on the Foreclosed Property, other than the completion of a building or other improvement
thereon, and then only if more than ten percent of the construction of such building or other improvements was completed before
default on the Whole Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

 

(iv)               
Directly Operate, other than through an Independent Contractor, or allow any other Person to Directly Operate, other than
through the property manager or an Independent Contractor, the Foreclosed Property on any date more than 90 days after its acquisition
date.

 

(b)              
The Special Servicer, acting on behalf of the Trustee hereunder, shall use efforts consistent with Accepted Servicing Practices
to sell the Foreclosed Property for its fair market value in accordance with Section 3.15. In any event, however, the
Special Servicer, acting on behalf of the Trustee hereunder, shall dispose of any Foreclosed Property as soon as is practicable
but in no event later than the close of the third calendar year following the year in which the Acquisition Date occurs unless
the Special Servicer, on behalf of the Trustee, has received (or has not been denied) an extension of time (an “Extension”)
by the Internal Revenue Service to sell such Foreclosed Property or an opinion of counsel to the effect that the holding by the
Trust Fund of the Foreclosed Property for an additional specified period will neither result in the imposition of taxes on “prohibited
transactions” of the Trust Fund as defined in Section 860F of the Code, nor cause the Upper-Tier REMIC or the Lower-Tier
REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding, in which event such period shall be extended
by such additional specified period, with the expenses of obtaining any such extension of time being an expense of the Trust Fund.
If the Special Servicer, on behalf of the Trustee, has received (or has not been denied) such Extension, then the Special Servicer,
acting on behalf of the Trustee hereunder, shall continue to attempt to sell the Foreclosed Property for its fair market value
for such longer period as such Extension permits (the “Extended Period”). If the Special Servicer, acting on
behalf of the Trustee, has not received such an Extension and the Special Servicer, acting on behalf of the Trustee hereunder,
is unable to sell the Foreclosed Property, within the foregoing period or if the Special Servicer, acting on behalf of the Trustee
hereunder, has received such an Extension, and the Special Servicer, acting on behalf of the Trustee hereunder, is unable to sell
the Foreclosed Property within the Extended Period, the Special Servicer shall, before the end of the above-referenced period or
the Extended Period, as the case

 

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may be, auction the Foreclosed Property to the highest bidder (which may be the Special Servicer)
in accordance with Accepted Servicing Practices.

 

(c)               
Within 30 days of the sale of a Foreclosed Property, the Special Servicer shall provide to each of the Certificate Administrator
and the Trustee a statement of accounting for the Foreclosed Property, including, without limitation, (i) the date the Property
was acquired in foreclosure or by deed in lieu of foreclosure, (ii) the date of disposition of such Foreclosed Property, (iii) the
gross sale price and related selling and other expenses, (iv) accrued interest calculated from the date of acquisition to
the disposition date, and (v) such other information as the Certificate Administrator and/or Trustee may reasonably request.

 

12.3.                   
Prohibited Transactions and Activities. The Special Servicer, on behalf of the Trust Fund and the Companion Loan
Holders, shall not permit the sale or disposition of the Whole Loan at a time when the Whole Loan is not the subject of a breach
of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition
pursuant to (i) the bankruptcy or insolvency of the Lower-Tier REMIC or (ii) the termination of the Lower-Tier REMIC
in a “qualified liquidation” as defined in Section 860F(a)(4) of the Code), nor acquire any assets for either
the Lower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Collection
Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services not contemplated
herein, nor accept any contributions to either the Lower-Tier REMIC or the Upper-Tier REMIC (other than a cash contribution during
the three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person
requesting it to take such action) to the effect that such disposition, acquisition, substitution or acceptance will not (a) affect
adversely the status of either the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC, or of the Certificates as representing
regular interests therein, (b) affect the distribution of interest or principal on the Regular Certificates, (c) result
in the encumbrance of the assets transferred or assigned to either the Lower-Tier REMIC or the Upper-Tier REMIC (except pursuant
to the provisions of this Agreement), or (d) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to be subject to a
tax on “prohibited transactions” or “prohibited contributions” pursuant to the REMIC Provisions.

 

12.4.       
Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) If either the Lower-Tier REMIC or the
Upper-Tier REMIC fails to qualify as a REMIC, loses its status as a REMIC, or incurs state or local taxes, or a tax as a result
of a prohibited transaction or contribution subject to taxation under the REMIC Provisions due to the willful misconduct, bad faith
or negligent performance by the Certificate Administrator of its duties and obligations specifically set forth herein, or by reason
of the Certificate Administrator’s negligent disregard of its obligations and duties thereunder, the Certificate Administrator
shall indemnify the Trust against any and all losses, claims, damages, liabilities or expenses (“Losses”) resulting
therefrom; provided, however, that the Certificate Administrator shall not be liable for any such Losses attributable
to the action or inaction of the Servicer, the Special Servicer, the Depositor, or the Holders of the Class R Certificates
nor for any such Losses resulting from misinformation provided by the Holders of the Class R Certificates, the Servicer, the
Special Servicer, or the Depositor, on which the Certificate Administrator has relied. The foregoing shall not be deemed

 

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to limit
or restrict the rights and remedies of successor Holders of the Class R Certificates at law or in equity.

 

(b)              
If either the Lower-Tier REMIC or the Upper-Tier REMIC fails to qualify as a REMIC, loses its status as a REMIC, or incurs
state or local taxes, or a tax as a result of a prohibited transaction or contribution subject to taxation under the REMIC Provisions
due to the willful misconduct, bad faith or negligent performance of the Servicer or the Special Servicer in the performance of
its duties and obligations set forth herein, or by reason of the Servicer’s or Special Servicer’s negligent disregard
of its obligations and duties thereunder, the Servicer or the Special Servicer, as the case may be, shall indemnify the Trust against
any and all losses resulting therefrom; provided, however, that the Servicer or the Special Servicer, as the case
may be, shall not be liable for any such losses attributable to the action or inaction of the Certificate Administrator, the Depositor,
the Holders of the Class R Certificates nor for any such losses resulting from misinformation provided by the Certificate
Administrator, the Depositor or the Holders of the Class R Certificates on which the Servicer or the Special Servicer, as
the case may be, has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of any successor Holders
of the Class R Certificates at law or in equity.

 

13.             
EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

13.1.       
Intent of the Parties; Reasonableness. The parties hereto acknowledge and agree that the purpose of Article 13
of this Agreement is, among other things, to facilitate compliance by any Senior Companion Loan Depositor with the provisions of
Regulation AB and the related rules and regulations of the Commission. Except as expressly required by Sections 13.7, 13.8
and 13.9, the Depositor shall not, and no Senior Companion Loan Depositor may, exercise its rights to request delivery of
information or other performance under these provisions other than in good faith, or for purposes other than compliance with the
Act, the Exchange Act and the Sarbanes-Oxley Act. The parties hereto acknowledge that interpretations of the requirements of Regulation
AB may change over time due to interpretive guidance provided by the Commission or its staff, and agree to comply with reasonable
requests made by the Depositor, or any Senior Companion Loan Depositor, in good faith for delivery of information under these provisions
on the basis of such evolving interpretations of Regulation AB. In connection with the Natixis Commercial Mortgage Securities Trust
2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA, and any Senior Companion Loan Securities, each of the
parties to this Agreement shall cooperate fully with the Depositor, the Certificate Administrator, any Senior Companion Loan Depositor
and any Senior Companion Loan Exchange Act Reporting Party, as applicable, to deliver to the Depositor or Senior Companion Loan
Depositor, as applicable (including any of its assignees or designees), any and all statements, reports, certifications, records
and any other information in its possession or reasonably available to it and necessary in the reasonable good faith determination
of the Depositor, the Certificate Administrator, any Senior Companion Loan Depositor or any Senior Companion Loan Exchange Act
Reporting Party, as applicable, to permit any Senior Companion Loan Depositor to comply with the provisions of Regulation AB, together
with such disclosures relating to the Servicer, the Special Servicer, the Certificate Administrator and the Trustee, as applicable,
and any Sub-Servicer, or the servicing of the Whole Loan, reasonably believed by the Depositor or any Senior Companion Loan Depositor,
as applicable, in good faith to be necessary in order to effect such compliance.

 

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13.2.       
Succession; Sub-Servicers; Subcontractors. (a)  For so long as any Senior Companion Loan Securitization
Trust is subject to the reporting requirements of the Exchange Act (in addition to any requirements contained in Section 13.7
of this Agreement), in connection with the succession to the Servicer and Special Servicer or any Sub-Servicer as servicer or sub-servicer
(to the extent such Sub-Servicer is a “servicer” meeting the criteria contemplated by Item 1108(a)(2) of Regulation
AB) under this Agreement by any Person (i) into which the Servicer and Special Servicer or such Sub-Servicer may be merged
or consolidated, or (ii) which may be appointed as a successor to the Servicer and Special Servicer or any such Sub-Servicer,
the Servicer or Special Servicer, as applicable (depending on whether such succession involves it or one of its Sub-Servicers),
shall provide (other than in the case of a succession pursuant to an appointment under Section 7.1 or 7.2, in
which case the successor servicer or successor special servicer, as applicable, shall provide) to any Senior Companion Loan Depositor
as to which the related Senior Companion Loan is affected, at least five Business Days prior to the effective date of such
succession or appointment as long as such disclosure prior to such effective date would not be violative of any applicable law
or confidentiality agreement (and as long as such notice is not given by a successor servicer or successor special servicer appointed
under Section 7.1 or 7.2), and otherwise no later than one Business Day after such effective date of succession,
(x) written notice to the Depositor and each Senior Companion Loan Depositor of such succession or appointment and (y) in
writing and in form and substance reasonably satisfactory to each Senior Companion Loan Depositor, all information relating to
such successor servicer reasonably requested by any Senior Companion Loan Depositor in order to comply with its reporting obligation
under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act are required to be filed under
the Exchange Act).

 

(b)              
For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act,
each of the Servicer, the Special Servicer, any Sub-Servicer and the Certificate Administrator (each of the Servicer, the Special
Servicer and the Certificate Administrator and each Sub-Servicer, for purposes of this Section 13.2(b) and Section 13.2(c),
a “Servicing Party”) is permitted to utilize one or more Subcontractors to perform certain of its obligations
hereunder. Such Servicing Party shall promptly upon request provide to any Senior Companion Loan Depositor as to which the related
Senior Companion Loan is affected, a written description (in form and substance satisfactory to each Senior Companion Loan Depositor)
of the role and function of each Subcontractor that is a Servicing Function Participant utilized by such Servicing Party during
the preceding calendar year, specifying (i) the identity of such Subcontractor, and (ii) which elements of the Servicing
Criteria will be addressed in assessments of compliance provided by each such Subcontractor. Each Servicing Party shall cause any
Subcontractor utilized by such Servicing Party that is determined to be a Servicing Function Participant to comply with the provisions
of Section 13.8 and Section 13.9 of this Agreement to the same extent as if such Subcontractor were such
Servicing Party. Such Servicing Party shall obtain from each such Subcontractor (or, in the case of each Sub-Servicer set forth
on Exhibit W, shall use commercially reasonable efforts to obtain from such Sub-Servicer) and deliver to the applicable
Persons any assessment of compliance report and related accountant’s attestation required to be delivered by such Subcontractor
under Section 13.8 and Section 13.9 of this Agreement, in each case, as and when required to be delivered.

 

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(c)               
For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act,
notwithstanding the foregoing, if a Servicing Party engages a Subcontractor in connection with the performance of any of its duties
under this Agreement, such Servicing Party shall be responsible for determining whether such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and whether such Subcontractor meets the criteria in Item 1108(a)(2)(i), (ii) or
(iii) of Regulation AB. If a Servicing Party determines, pursuant to the preceding sentence, that such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation
AB, then such Subcontractor shall be deemed to be a Sub-Servicer for purposes of this Agreement, and the engagement of such Sub-Servicer
shall not be effective unless and until notice is given to the Depositor and the Certificate Administrator, as well as any Senior
Companion Loan Depositor as to which the applicable Senior Companion Loan is affected, of any such Sub-Servicer and Subservicing
Agreement. No Subservicing Agreement (other than such agreements set forth on Exhibit W hereto) shall be effective
until five Business Days after such written notice is received by the Depositor, the Certificate Administrator and each such Senior
Companion Loan Depositor. Such notice shall contain all information reasonably necessary, and in such form as may be necessary,
to enable each Senior Companion Loan Exchange Act Reporting Party as to which the applicable Companion Loan is affected, to accurately
and timely report the event under Items 1.01 and 6.02 of Form 8-K pursuant to the related Senior Companion Loan Pooling and Servicing
Agreement or otherwise (if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

(d)              
For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act,
in connection with the succession to the Trustee or Certificate Administrator under this Agreement by any Person (i) into
which the Trustee or Certificate Administrator may be merged or consolidated, or (ii) which may be appointed as a successor
to the Trustee or Certificate Administrator, the Trustee or Certificate Administrator, as applicable, shall notify the Depositor
and each Companion Loan Depositor, at least 10 Business Days prior to the effective date of such succession or appointment (or
if such prior notice would be violative of applicable law or any applicable confidentiality agreement, no later than the time required
under Section 13.6 of this Agreement) and shall furnish pursuant to Section 13.6 of this Agreement to each
Senior Companion Loan Depositor in writing and in form and substance reasonably satisfactory to the Depositor and each Senior Companion
Loan Depositor, all information reasonably necessary for each Senior Companion Loan Exchange Act Reporting Party to accurately
and timely report the event under Items 1.01 and 6.02 of Form 8-K pursuant to the related Senior Companion Loan Pooling and Servicing
Agreement or otherwise (if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

13.3.                   
Senior Companion Loan Securitization Trust’s Filing Obligations. For so long as any Senior Companion Loan Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee shall (and shall cause (or, in the case of each Sub-Servicer set forth on Exhibit W, shall use commercially
reasonable efforts to cause) each Additional Servicer and Servicing Function Participant utilized thereby to) reasonably cooperate
with each Senior Companion Loan Depositor in connection with the satisfaction of each Senior Companion Loan Securitization Trust’s
reporting requirements under the Exchange Act.

 

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13.4.       
Form 10-D Disclosure. For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements
of the Exchange Act, within one Business Day after the related Distribution Date (using commercially reasonable efforts), but in
no event later than noon (New York City time) on the third Business Day after the related Distribution Date, (i) the parties
as set forth on Exhibit S to this Agreement, shall be required to provide to each Senior Companion Loan Exchange Act
Reporting Party and each Senior Companion Loan Depositor to which the particular Additional Form 10-D Disclosure is relevant for
Exchange Act reporting purposes, to the extent a Servicing Officer or Responsible Officer thereof has knowledge thereof (other
than information required by Item 1117 of Regulation AB as to such party which shall be reported if actually known by
any Servicing Officer or Responsible Officer, as the case may be, or any lawyer in the in-house legal department of such party),
in EDGAR-compatible format (to the extent available to such party in such format), or in such other format as otherwise agreed
upon by each such Senior Companion Loan Exchange Act Reporting Party, each such Senior Companion Loan Depositor and such parties,
the form and substance of the Additional Form 10-D Disclosure, if applicable, and (ii) the parties listed on Exhibit S
to this Agreement shall include with such Additional Form 10-D Disclosure application to such party and shall cause each Sub-Servicer
(or, in the case of each Sub-Servicer set forth on Exhibit W, shall use commercially reasonable efforts to cause such
Sub-Servicer) and Subcontractor of such party to the extent required under Regulation AB to provide, and if received, include,
an Additional Disclosure Notification in the form attached as Exhibit V to this Agreement. The Certificate Administrator
has no duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit S to this Agreement
of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-D Disclosure information.

 

13.5.       
Form 10-K Disclosure. For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements
of the Exchange Act, no later than March 1, commencing in March 2020, (i) the parties listed on Exhibit T to this
Agreement shall be required to provide (and with respect to any Servicing Function Participant of such party (other than any party
to this Agreement), shall cause such Servicing Function Participant to provide) to each Senior Companion Loan Exchange Act Reporting
Party and each Senior Companion Loan Depositor to which the particular Additional Form 10-K Disclosure is relevant for Exchange
Act Reporting purposes, to the extent a Servicing Officer or a Responsible Officer, as the case may be, thereof has actual knowledge
(other than information required by Item 1117 of Regulation AB as to such party which shall be reported if actually known by any
Servicing Officer or Responsible Officer, as the case may be, or any lawyer in the in house legal department of such party), in
EDGAR compatible format (to the extent available to such party in such format) or in such other format as otherwise agreed upon
by each such Senior Companion Loan Exchange Act Reporting Party, each such Senior Companion Loan Depositor and such providing parties,
the form and substance of any Additional Form 10-K Disclosure described on Exhibit T to this Agreement applicable to
such party, and (ii) the parties listed on Exhibit T to this Agreement shall include with such Additional Form
10-K Disclosure applicable to such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit W,
shall use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent required under
Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached as Exhibit V
to this Agreement. The Certificate Administrator has no duty under this Agreement to monitor or

 

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enforce the performance by the
parties listed on Exhibit T to this Agreement of their duties under this paragraph or proactively solicit or procure
from such parties any Additional Form 10-K Disclosure information.

 

13.6.       
Form 8-K Disclosure. For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements
of the Exchange Act, to the extent a Servicing Officer or Responsible Officer thereof has actual knowledge of such event (other
than Item 1117 of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible
Officer, as the case may be, or any lawyer in the in-house legal department of such party), within one Business Day after the occurrence
of an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”) (using commercially reasonable
efforts), but in no event later than the close of business (New York City time) on the second Business Day after the occurrence
of a Reportable Event, (i) the parties set forth on Exhibit U to this Agreement shall be required to provide (and
(i) with respect to any Servicing Function Participant of such party that is a Sub-Servicer set forth on Exhibit W,
shall use commercially reasonable efforts to cause such Servicing Function Participant to provide, and (ii) with respect to
any other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing Function
Participant to provide) to each Senior Companion Loan Depositor and each Senior Companion Loan Exchange Act Reporting Party to
which the particular Form 8-K Disclosure Information is relevant for Exchange Act reporting purposes, in EDGAR-compatible format
(to the extent available to such party in such format) or in such other format as otherwise agreed upon by each such Senior Companion
Loan Depositor, each such Senior Companion Loan Exchange Act Reporting Party and such providing parties, any Form 8-K Disclosure
Information described on Exhibit U to this Agreement as applicable to such party, if applicable, and (ii) the
parties listed on Exhibit U to this Agreement shall include with such Form 8-K Disclosure Information applicable to
such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit W, shall use
commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent required under Regulation
AB to provide, and if received, include, an Additional Disclosure Notification in the form attached hereto as Exhibit V.
The Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit U
of their duties under this paragraph or proactively solicit or procure from such parties any Form 8-K Disclosure Information.

 

13.7.       
Annual Compliance Statements. On or before March 1 of each year, commencing in 2020, each of the Servicer, the Special
Servicer (regardless of whether the Special Servicer has commenced special servicing of the Whole Loan), the Certificate Administrator
and the Trustee (provided, however that the Trustee shall not be required to deliver an annual compliance statement
with respect to any period during which there was no Applicable Servicing Criteria applicable to it), at its own expense, shall
furnish (and each such party, (i) with respect to each Servicing Function Participant that is a Sub-Servicer set forth on
Exhibit W with which it has entered into a servicing relationship with respect to the Whole Loan, shall use commercially
reasonable efforts to cause such Servicing Function Participant to furnish, and (ii) with respect to any other Servicing Function
Participant of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to furnish)
(each such Servicing Function Participant and each of the Servicer, Special Servicer and the Certificate Administrator, a “Certifying
Servicer”) to the Certificate Administrator and the 17g-5

 

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Information Provider (who shall post it to the Certificate
Administrator’s Website and the 17g-5 Information Provider’s Website, as applicable, pursuant to Section 8.14(b)),
the Trustee, the Depositor and the Companion Loan Holders (or, in the case of the Senior Companion Loan that is part of a Senior
Companion Loan Securitization Trust, the applicable Senior Companion Loan Depositor and Senior Companion Loan Exchange Act Reporting
Party), an Officer’s Certificate stating, as to the signer thereof, that (A) a review of such Person’s activities
during the preceding calendar year or portion thereof and of such Person’s performance under this Agreement or the applicable
sub-servicing agreement, as applicable, has been made under such officer’s supervision and (B) to the best of such officer’s
knowledge, based on such review, such Person has fulfilled all its obligations under this Agreement or the applicable sub-servicing
agreement, as applicable, in all material respects throughout such year or portion thereof, or, if there has been a failure to
fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status
thereof. For so long as any Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange
Act, promptly after receipt of each such Officer’s Certificate, the Depositor (and, in any case of the Senior Companion Loan
that is part of a Senior Companion Loan Securitization Trust, the applicable Senior Companion Loan Depositor and Senior Companion
Loan Exchange Act Reporting Party) may review each such Officer’s Certificate and, if applicable, consult with the Certifying
Servicer, as applicable, as to the nature of any failures by such Certifying Servicer, respectively, or any related Servicing Function
Participant with which the Servicer or the Special Servicer, as applicable, has entered into a servicing relationship with respect
to the Trust Loan or a Companion Loan in the fulfillment of any Certifying Servicer’s obligations hereunder or under the
applicable sub-servicing or primary servicing agreement. The obligations of each Certifying Servicer under this Section apply
to each such Certifying Servicer that serviced the Trust Loan or a Companion Loan during the applicable period, whether or not
the Certifying Servicer is acting in such capacity at the time such Officer’s Certificate is required to be delivered. Copies
of all Officer’s Certificates delivered pursuant to this Section 13.7 shall be made available to any Privileged
Person by the Certificate Administrator by posting such Compliance Report to the Certificate Administrator’s Website pursuant
to Section 8.14(b).

 

13.8.       
Annual Reports on Assessment of Compliance with Servicing Criteria. (a) On or before March 1 of each year, commencing
in 2020, the Servicer, the Special Servicer (regardless of whether the Special Servicer has commenced special servicing of the
Whole Loan), the Certificate Administrator and the Trustee (provided, however that the Trustee shall not be required
to deliver an accountants’ report with respect to any period during which there was no Applicable Servicing Criteria applicable
to it), each at its own expense, shall furnish (and each such party, (i) with respect to each Servicing Function Participant
that is a Sub-Servicer set forth on Exhibit W with which it has entered into a servicing relationship with respect
to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish, and (ii) with
respect to any other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing
Function Participant to furnish) (each Servicer, the Special Servicer, the Certificate Administrator, the Trustee and any Servicing
Function Participant, as the case may be, a “Reporting Servicer”) to the Certificate Administrator and the 17g-5
Information Provider (who shall post it to the Certificate Administrator’s Website and the 17g-5 Information Provider’s
Website, as applicable, pursuant to Section 8.14(b)), the Trustee, the Depositor and the Companion Loan Holders (or,
in the case of the Senior Companion Loan that is part of a Senior Companion Loan Securitization Trust, the

 

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applicable Senior Companion
Loan Depositor and Senior Companion Loan Exchange Act Reporting Party), a report on an assessment of compliance with the Applicable
Servicing Criteria that contains (A) a statement by such Reporting Servicer of its responsibility for assessing compliance
with the Applicable Servicing Criteria, (B) a statement that, to the best of such Reporting Servicer’s knowledge, such
Reporting Servicer used the Servicing Criteria to assess compliance with the Applicable Servicing Criteria, (C) such Reporting
Servicer’s assessment of compliance with the Applicable Servicing Criteria as of the end of and for the preceding calendar
year, including, if there has been any material instance of noncompliance with the Applicable Servicing Criteria, a discussion
of each such failure and the nature and status thereof and (D) a statement that a registered public accounting firm that is
a member of the American Institute of Certified Public Accountants has issued an attestation report on such Reporting Servicer’s
assessment of compliance with the Applicable Servicing Criteria as of and for such period.

 

Each such report shall
be addressed to the Depositor and each Senior Companion Loan Depositor (if addressed) and signed by an authorized officer of the
applicable company, and shall address each of the Applicable Servicing Criteria. For so long as any Senior Companion Loan Securitization
Trust is subject to the reporting requirements of the Exchange Act, promptly after receipt of each such report, the Depositor and
each Senior Companion Loan Depositor may review each such report and, if applicable, consult with the each Reporting Servicer as
to the nature of any material instance of noncompliance with the Applicable Servicing Criteria.

 

(b)              
On the Closing Date, the Servicer, the Special Servicer and the Certificate Administrator each acknowledge and agree that
Exhibit K to this Agreement sets forth the Applicable Servicing Criteria for such party.

 

(c)               
No later than 30 days after the end of each fiscal year for the Trust, the Servicer, the Special Servicer and, for so long
as any Senior Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate
Administrator shall notify the Certificate Administrator, the Depositor, each Senior Companion Loan Exchange Act Reporting Party
and each Senior Companion Loan Depositor as to the name of each Servicing Function Participant utilized by it, in each case, and
each such notice will specify what specific Servicing Criteria will be addressed in the report on assessment of compliance prepared
by such Servicing Function Participant. When the Servicer, the Special Servicer and, for so long as any Senior Companion Loan Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator submit their assessments pursuant
to Section 13.8(a) of this Agreement, such parties, as applicable, will also at such time include the assessment (and
related attestation pursuant to Section 13.9) of each Servicing Function Participant engaged by it. The fiscal year
for the Trust shall be January 1 through and including December 31 of each calendar year.

 

(d)              
In the event the Servicer, the Special Servicer or, for so long as any Senior Companion Loan Securitization Trust is subject
to the reporting requirements of the Exchange Act, the Certificate Administrator is terminated or resigns pursuant to the terms
of this Agreement, such party shall provide, and each such party shall cause (or, if the Servicing Function Participant is a Sub-Servicer
set forth on Exhibit W, shall use commercially reasonable efforts to cause) any Servicing Function Participant engaged
by it to provide (and the Servicer,

 

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the Special Servicer and the Certificate Administrator shall, with respect to any Servicing
Function Participant that resigns or is terminated under any applicable servicing agreement, cause such Servicing Function Participant
to provide) an annual assessment of compliance pursuant to this Section 13.8, coupled with an attestation as required
in Section 13.9 in respect of the period of time that the Servicer, the Special Servicer or, for so long as any Senior
Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator
was subject to this Agreement or the period of time that the Servicing Function Participant was subject to such other servicing
agreement.

 

13.9.       
Annual Independent Public Accountants’ Servicing Report. On or before March 1 of each year, commencing in 2020,
the Servicer, the Special Servicer, the Certificate Administrator and the Trustee (provided, however that the Trustee
shall not be required to deliver an assessment of compliance with respect to any period during which there was no Applicable Servicing
Criteria applicable to it), each at its own expense, shall cause (and each such party, (i) with respect to each Servicing
Function Participant that is a Sub-Servicer set forth on Exhibit W with which it has entered into a servicing relationship
with respect to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish,
and (ii) with respect to any other Servicing Function Participant of such party (other than any party to this Agreement),
shall cause such Servicing Function Participant to furnish) a registered public accounting firm (which may also render other services
to the Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the applicable Servicing Function Participant,
as the case may be) and that is a member of the American Institute of Certified Public Accountants to furnish a report to the Certificate
Administrator (who shall post it to the Certificate Administrator’s Website pursuant to Section 8.14(b)), the
Depositor, the Companion Loan Holders (or, in the case of any Senior Companion Loan that is part of a Senior Companion Loan Securitization
Trust, the applicable Senior Companion Loan Depositor and Senior Companion Loan Exchange Act Reporting Party) and the 17g-5 Information
Provider (who shall post it to the 17g-5 Information Provider’s Website pursuant to Section 8.14(b)), to the
effect that (i) it has obtained a representation regarding certain matters from the management of such Reporting Servicer,
which includes an assessment from such Reporting Servicer of its compliance with the Applicable Servicing Criteria and (ii) on
the basis of an examination conducted by such firm in accordance with standards for attestation engagements issued or adopted by
the Public Company Accounting Oversight Board, it is expressing an opinion as to whether such Reporting Servicer’s assessment
of compliance with the Servicing Criteria was fairly stated in all material respects, or it cannot express an overall opinion regarding
such party’s assessment of compliance with the Applicable Servicing Criteria. In the event that an overall opinion cannot
be expressed, such registered public accounting firm shall state in such report why it was unable to express such an opinion. Each
accountant’s attestation report required hereunder shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation
S-X under the Act and the Exchange Act. Such report must be available for general use and not contain restricted use language.
Copies of all statements delivered pursuant to this Section 13.9 shall be made available to any Privileged Person by
the Certificate Administrator posting such statement on the Certificate Administrator’s Website pursuant to Section 8.14(b).

 

For so long as any Senior
Companion Loan Securitization Trust is subject to the reporting requirements of the Exchange Act, promptly after receipt of such
report from the Servicer, the Special Servicer, the Certificate Administrator, the Trustee or any Servicing

 

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Function Participant,
the Depositor and each Senior Companion Loan Depositor may review the report and, if applicable, consult with the Servicer, the
Special Servicer, the Certificate Administrator or the Trustee as to the nature of any defaults by the Servicer, the Special Servicer,
the Certificate Administrator, the Trustee or any Servicing Function Participant with which it has entered into a servicing relationship
with respect to the Trust Loan or any Companion Loan, as the case may be, in the fulfillment of any of the Servicer’s, the
Special Servicer’s, the Certificate Administrator’s, the Trustee’s or the applicable Servicing Function Participants’
obligations hereunder or under the applicable sub-servicing agreement.

 

13.10.   
Significant Obligor. If a Companion Loan Depositor has notified the Servicer and Special Servicer in writing that
the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (together with
notification of the Relevant Distribution Date) with respect to a Senior Companion Loan Securitization that includes such Companion
Loan, to the extent that the Servicer is in receipt of the updated financial statements of such “significant obligor”
for any calendar quarter (other than the fourth calendar quarter of any calendar year) from the Mortgagor or Special Servicer,
beginning with the first calendar quarter following receipt of such notice from such Senior Companion Loan Depositor, or the updated
financial statements of such “significant obligor” for any calendar year, beginning for the calendar year following
such notice from such Senior Companion Loan Depositor, as applicable, the Servicer shall deliver to such Senior Companion Loan
Depositor, on or prior to the day that occurs two Business Days prior to the related “significant obligor” NOI Quarterly
Filing Deadline or seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A)
if such financial statement receipt occurs 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing
Deadline or 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial
statements of the “significant obligor”, together with the net operating income of such “significant obligor”
for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement
receipt occurs less than 12 Business Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than 17
Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of
the “significant obligor”, together with the net operating income of such “significant obligor” for the
applicable period as reported by the Borrower in such financial statements.

 

13.11.   
Sarbanes-Oxley Backup Certification. For so long as any Senior Companion Loan Securitization Trust is subject to
the reporting requirements of the Exchange Act, the Certificate Administrator, the Servicer, the Special Servicer and the Trustee
shall provide (and with respect to any other Servicing Function Participant of such party, shall cause such Servicing Function
Participant to provide) to the Person who signs the Sarbanes-Oxley Certification with respect to such Senior Companion Loan Securitization
Trust (the “Certifying Person”) no later than March 1 of the year following the year to which the Form 10-K
of such Senior Companion Loan Securitization Trust relates or, if March 1 is not a Business Day, on the immediately following Business
Day, a certification in the form attached to this Agreement as Exhibit X-1, Exhibit X-2, Exhibit X-3
or Exhibit X-4, as applicable, on which the Certifying Person, the entity for which the Certifying Person acts as an
officer, and such entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification
Parties”) can reasonably rely. In the event any Reporting Servicer is terminated or resigns pursuant to the

 

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terms of
this Agreement, or any applicable sub-servicing agreement or primary servicing agreement, as the case may be, such Reporting Servicer
shall provide a certification to the Certifying Person pursuant to this Section 13.11 with respect to the period of
time it was subject to this Agreement or the applicable sub-servicing or primary servicing agreement, as the case may be.

 

13.12.   
Indemnification. For so long as the other Trust is subject to the reporting requirements of the Exchange Act, each
of the Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall indemnify and hold harmless the Depositor,
each Senior Companion Loan Depositor and any employee, director or officer of the Depositor or any Senior Companion Loan Depositor
from and against any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments
and other costs and expenses incurred by such indemnified party arising out of (i) an actual breach by the Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as the case may be, of its obligations under this Article 12, (ii) negligence,
bad faith or willful misconduct on the part of the Servicer, the Special Servicer, the Certificate Administrator or the Trustee,
as applicable, in the performance of such obligations or (iii) delivery of any Deficient Exchange Act Deliverable regarding
such party and delivered by or on behalf of such party.

 

The Servicer, the Special
Servicer, the Certificate Administrator and the Trustee shall cause each Servicing Function Participant of such party that is not
a Sub-Servicer set forth on Exhibit W (and with respect to any Servicing Function Participant of such party that is
a Sub-Servicer set forth on Exhibit W, shall use commercially reasonable efforts to cause such Servicing Function Participant)
to indemnify and hold harmless the Depositor, each Senior Companion Loan Depositor and any employee, director or officer of the
Depositor or any Senior Companion Loan Depositor from and against any and all claims, losses, damages, penalties, fines, forfeitures,
legal fees and expenses and related costs, judgments and any other costs, fees and expenses incurred by such indemnified party
arising out of (i) a breach of its obligations to provide any of the annual compliance statements or annual servicing criteria
compliance reports or attestation reports pursuant to the applicable sub-servicing agreement, (ii) negligence, bad faith or
willful misconduct its part in the performance of such obligations, (iii) any failure by a Servicing Party (as defined in
Section 13.2(b)) to identify a Servicing Function Participant or (d) delivery of any Deficient Exchange Act Deliverable
regarding such party and delivered by or on behalf of such party.

 

If the indemnification
provided for in, or contemplated by, either of the prior two paragraphs is unavailable or insufficient to hold harmless the Depositor,
any Senior Companion Loan Depositor or any employee, director or officer of the Depositor or any Senior Companion Loan Depositor,
then the Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Additional Servicer or other Servicing
Function Participant (the “Performing Party”) shall contribute to the amount paid or payable to the indemnified
party as a result of the losses, claims, damages or liabilities of the indemnified party in such proportion as is appropriate to
reflect the relative fault of the indemnified party on the one hand and the Performing Party on the other in connection with a
breach of the Performing Party’s obligations pursuant to this Article 13 (or breach of its obligations under the applicable
sub-servicing agreement to provide any of the annual compliance statements or annual servicing criteria compliance reports or attestation

 

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reports) or the Performing party’s negligence, bad faith or willful misconduct in connection therewith.

 

The Servicer, the Special
Servicer, the Certificate Administrator and the Trustee shall cause each Servicing Function Participant of such party that is not
a Sub-Servicer set forth on Exhibit W (and with respect to any Servicing Function Participant of such party that is
a Sub-Servicer set forth on Exhibit W, shall use commercially reasonable efforts to cause such Servicing Function Participant)
to agree to the foregoing indemnification and contribution obligations. This Section 13.11 shall survive the termination
of this Agreement or the earlier resignation or removal of the Servicer, the Special Servicer or the Certificate Administrator.

 

13.13.   
Amendments. This Article 13 may be amended by the parties hereto pursuant to Section 11.1 of this
Agreement for purposes of complying with Regulation AB, the Act or the Exchange Act and/or to conform to standards developed within
the commercial mortgage-backed securities market and the Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates,
Rating Agency Confirmations or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this
Agreement.

 

13.14.   
Termination of the Certificate Administrator. Notwithstanding anything to the contrary contained in this Agreement,
the Depositor or any Senior Companion Loan Depositor may terminate the Certificate Administrator upon five Business Days’
notice if the Certificate Administrator fails to comply with any of its obligations under this Article 13; provided that
such termination shall not be effective until a successor Certificate Administrator shall have accepted the appointment.

 

13.15.   
Termination of Sub-Servicing Agreements. For so long as any Senior Companion Loan Securitization Trust is subject
to the reporting requirements of the Exchange Act, each of the Servicer, the Certificate Administrator and the Trustee, as applicable,
shall (i) cause each Sub-Servicing Agreement to which it is a party to entitle the Depositor or any Senior Companion Loan
Depositor to terminate such agreement (without compensation, termination fee or the consent of any other Person) at any time following
any failure of the applicable Sub-Servicer to any deliver any Exchange Act reporting items that such Sub-Servicer is required to
deliver under Regulation AB or as otherwise contemplated by this Article 13 and (ii) promptly notify the Depositor
and any Senior Companion Loan Depositor following any failure of the applicable Sub-Servicer to deliver any Exchange Act reporting
items that such Sub-Servicer is required to deliver under Regulation AB or as otherwise contemplated by this Article 13.
The Depositor and any Senior Companion Loan Depositor is hereby authorized to exercise the rights described in clause (i) of the
preceding sentence in its sole discretion. The rights of the Depositor and any Senior Companion Loan Depositor to terminate a Sub-Servicing
Agreement as aforesaid shall not limit any right the Servicer, the Certificate Administrator or the Trustee, as applicable, may
have to terminate such Sub-Servicing Agreement.

 

13.16.   
Notification Requirements and Deliveries in Connection with Securitization of a Companion Loan. (a)  Any
other provision of this Article 13 to the contrary notwithstanding, including, without limitation, any deadlines for delivery
set forth in this Article 13, in connection with the requirements contained in this Article 13 that provide for the
delivery of information and other items to, and the cooperation with, any Senior Companion Loan

 

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Depositor and Senior Companion
Loan Exchange Act Reporting Party of any Senior Companion Loan Securitization Trust that includes a Companion Loan, no party hereunder
shall be obligated to provide any such items to or cooperate with such Senior Companion Loan Depositor or Senior Companion Loan
Exchange Act Reporting Party (i) until such Senior Companion Loan Depositor or Senior Companion Loan Exchange Act Reporting
Party of such Senior Companion Loan Securitization Trust has provided each party hereto with not less than 30 days written notice
(which shall only be required to be delivered once and each party shall be entitled to rely on such notice), setting forth the
contact information for such Person(s) and, except as regards the deliveries and cooperation contemplated by Section 13.7,
Section 13.8 and Section 13.9 of this Agreement, stating that such Senior Companion Loan Securitization
Trust is subject to the reporting requirements of the Exchange Act, and (ii) specifying in reasonable detail the information
and other items not otherwise specified in this Agreement that are requested to be delivered; provided that if Exchange
Act reporting is being requested, such Senior Companion Loan Depositor or Senior Companion Loan Exchange Act Reporting Party is
only required to provide a single written notice to such effect. Any reasonable cost and expense of the Servicer, Special Servicer,
Trustee and Certificate Administrator in cooperating with such Senior Companion Loan Depositor or Senior Companion Loan Exchange
Act Reporting Party of such Senior Companion Loan Securitization Trust (above and beyond their expressed duties hereunder) shall
be the responsibility of such Senior Companion Loan Depositor or Senior Companion Loan Securitization Trust. The parties hereto
shall have the right to confirm in good faith with the Senior Companion Loan Depositor of such Senior Companion Loan Securitization
Trust as to whether applicable law requires the delivery of the items identified in this Article 13 to such Senior Companion
Loan Depositor and Senior Companion Loan Exchange Act Reporting Party of such Senior Companion Loan Securitization Trust prior
to providing any of the reports or other information required to be delivered under this Article 13 in connection therewith
and (i) upon such confirmation, the parties shall comply with the deadlines for delivery set forth in this Article 13
with respect to such Senior Companion Loan Securitization Trust or (ii) in the absence of such confirmation, the parties shall
not be required to deliver such items; provided that no such confirmation will be required in connection with any delivery
of the items contemplated by Section 13.7, Section 13.8 and Section 13.9 of this Agreement.
Such confirmation shall be deemed given if the Senior Companion Loan Depositor or Senior Companion Loan Exchange Act Reporting
Party for such Senior Companion Loan Securitization Trust provides a written statement to the effect that such Senior Companion
Loan Securitization Trust is subject to the reporting requirements of the Exchange Act and the appropriate party hereto receives
such written statement. The parties hereunder shall also have the right to require that such Senior Companion Loan Depositor provide
them with the contact details of such Senior Companion Loan Depositor, Senior Companion Loan Exchange Act Reporting Party and any
other parties to the Senior Companion Loan Pooling and Servicing Agreement relating to such Senior Companion Loan Securitization
Trust.

 

(b)              
Each of the Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall, upon reasonable prior written
request given in accordance with the terms of Section 13.16(a) above, and subject to a right of the Servicer, Special
Servicer, the Certificate Administrator or Trustee, as the case may be, to review and approve such disclosure materials, permit
the related Companion Loan Holder to use such party’s description contained in the Offering Circular (updated as appropriate
by the Servicer, the Special Servicer, Certificate Administrator or Trustee, as applicable, at the reasonable cost of the applicable
Senior

 

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Companion Loan Depositor) for inclusion in the disclosure materials relating to any securitization of a Companion Loan.

 

(c)               
The Servicer, the Special Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request
given in accordance with the terms of Section 13.16(a) above, shall each timely provide (to the extent the reasonable
cost thereof is paid or caused to be paid by the requesting party) to the Senior Companion Loan Depositor and any underwriters
with respect to any securitization transaction that includes a Companion Loan such opinion(s) of counsel, certifications and/or
indemnification agreement(s) with respect to the updated description referred in Section 13.16(b) with respect to such
party, substantially identical to those, if any, delivered by the Servicer, the Special Servicer, the Trustee or the Certificate
Administrator, as the case may be, or their respective counsel, in connection with the information concerning such party in the
Offering Circular and/or any other disclosure materials relating to this Trust (updated as deemed appropriate by the Servicer,
the Special Servicer, the Trustee or the Certificate Administrator, or their respective legal counsel, as the case may be, and
sufficient to comply with Regulation AB). None of the Servicer, the Special Servicer, the Trustee or the Certificate Administrator
shall be obligated to deliver any such item with respect to the securitization of a Companion Loan if it did not deliver a corresponding
item with respect to this Trust.

 

[REMAINDER OF THE PAGE LEFT BLANK; SIGNATURE
PAGE FOLLOWS]

 

     -235-

     

    

 

IN WITNESS WHEREOF, the
parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day
and year first above written.

  

	 	NATIXIS COMMERCIAL MORTGAGE SECURITIES LLC, as Depositor
	 	 	 
	 	By:	/s/ Matthew Feast
	 	 	Name:   Matthew Feast
	 	 	Title:     Director
	 	 	 
	 	By:	/s/ Matthew McGowan
	 	 	Name: Matthew McGowan
	 	 	Title:   Vice President
	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION, as Servicer
	 	 	 
	 	By:	/s/ Michael A. Tilden
	 	 	Name:    Michael A. Tilden
	 	 	Title:      Vice President
	 	 	 
	 	SITUS HOLDINGS, LLC, as Special Servicer
	 	 	 
	 	By:	/s/ George Wisniewski
	 	 	Name:    George Wisniewski
	 	 	Title:      Executive
    Managing Director
	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Certificate Administrator
	 	 	 
	 	By:	/s/ Stacey Gross
	 	 	Name:     Stacey Gross
	 	 	Title:       Vice President

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

  

	STATE
    OF New York	)	 	 
	 	)	ss.:	 
	COUNTY
    OF New York	)	 	 

 

On
the 22nd day of March 2019, before me, a notary public in and for said State, personally appeared Matthew
Feast and Matthew McGowan, each, known to me to be an authorized signatory of Natixis Commercial Mortgage
Securities LLC, one of the entities that executed the within instrument, and also known to me to be the person who executed
it on behalf of such entity, and acknowledged to me that such entity executed the within instrument. 

 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this
certificate first above written.

 

	 	 	/s/
    Tameka F. Anderson
	 	 	Notary Public

 

	[SEAL]

                                                                                 
	 	TAMEKA F. ANDERSON 

Notary Public, State of New York 

Registration #01AN6324831 

Qualified in New York County 

Commission Expires
June 8, 2019
	 	 	 
	My commission expires:	 	 
	 	 	 
	June
    8, 2019	 	 

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

   

	STATE
    OF KANSAS	)	 	 
	 	)	ss.:	 
	COUNTY
    OF JOHNSON	)	 	 

 

On
this 22nd day of March 2019, before me, the undersigned, a Notary Public in and for the State of Kansas,
duly commissioned and sworn, personally appeared Michael A. Tilden, to me known who, by me duly sworn, did depose and
acknowledge before me and say that he/she is a Vice President of KeyBank National Association, a national banking association, the entity described in and that executed
the foregoing instrument; and that s/he signed her/his name thereto under authority of said entity
and on behalf of such entity.

 

WITNESS my hand and seal
hereto affixed the day and year first above written.

 

	 	 	/s/
    Julie A Heese
	 	 	NOTARY PUBLIC in
    and for 
	 	 	the
    State of Kansas

 

	

                                                                                
	 	
	 [SEAL]	JULIE
    A HEESE	 
		Notary
    Public	 
	My commission expires:	State
    of Kansas	 
	9/22/2019	 My
    Commission      Expires 9/22/2019	 

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

 

  

 

 

ACKNOWLEDGMENT

 

	A
    notary public or other officer completing this certificate verifies only the identity of the individual who signed the document
    to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.	 

 

State of California

County of                    San
Francisco                     )

 

	On March 21, 2019 before me,	Theresa
    R. Dye, Notary Public
	 	(insert name and title of the officer)

 

personally
appeared George Wisniewski, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies),
and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted,
executed the instrument.

 

I certify
under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

 

WITNESS
my hand and official seal.

 

	Signature 	/s/
    Theresa R. Dye	 	(Seal)	THERESA R. DYE 
 Notary
    Public - California 

    San Francisco County 

    Commission # 2244500 

    My Comm. Expires Jun 26, 2022

 

     

     

    

  

	STATE
    OF MARYLAND	)	 	 
	 	)	ss:	 
	COUNTY
OF  HOWARD	)	 	 

 

On this 25th day of March 2019,
before me, the undersigned, a Notary Public in and for the State of Maryland, duly commissioned and sworn, personally
appeared Stacey Gross, to me known who, by me duly sworn, did depose and acknowledge before me and say that s/he is the Vice
President of Wells Fargo Bank, National Association, a national banking association, the entity described in and that
executed the foregoing instrument; and that s/he signed her/his name thereto under authority of the board of directors of
said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed the day and year first above written.

 

	 Andrew
    Crews	 	/s/
    Andrew Crews
	 NOTARY
    PUBLIC	 	NOTARY PUBLIC in
    and for the
    
	 CECIL
    COUNTY, MD	 	State of Maryland
	MY COMMISSION
EXPIRES 	 	 
	OCTOBER 27, 2021	 	 

 

[SEAL]

 

My Commission expires:

 

 

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	By:	/s/ Stacey Gross
	 	 	Name:     Stacey Gross
	 	 	Title:       Vice President

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

 

	STATE
    OF MARYLAND 	)	 	 
	 	)	ss:	 
	COUNTY
OF HOWARD	)	 	 

 

On this 25th day of March  2019,
before me, the undersigned, a Notary Public in and for the State of Maryland, duly commissioned and sworn, personally
appeared Stacey Gross, to me known who, by me duly sworn, did depose and acknowledge before me and say that s/he is the Vice
President of Wells Fargo Bank, National Association, a national banking association, the entity described in and that
executed the foregoing instrument; and that s/he signed her/his name thereto under authority of the board of directors of
said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed the day and year first above written.

 

	 Andrew
    Crews	 	/s/
    Andrew Crews
	 NOTARY
    PUBLIC	 	NOTARY PUBLIC in
    and for the
    
	 CECIL
    COUNTY, MD	 	State of Maryland
	MY COMMISSION
EXPIRES 	 	 
	OCTOBER 27, 2021	 	 

 

[SEAL]

 

My Commission expires:

 

 

 

NCMS
2019-NEMA – TRUST AND SERVICING AGREEMENT

 

     

     

    

 

EXHIBIT
A-1

 

FORM OF CLASS A CERTIFICATES

 

CLASS A

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary Regulation S Global Certificate legend.

 

2       Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global Certificate legend.

 

    Exhibit A-1-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CERTIFICATE MAY NOT BE PURCHASED
BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT
TO THE

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-1-2

     

    

 

FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED
INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT
OF 1933 AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE
RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR CODE SECTION 4975 (OR A SIMILAR NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-1-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS A

 

	Pass-Through Rate:  3.8214%	 
	First Distribution Date:  April 17, 2019	 
	Aggregate Initial Certificate Balance of the 

Class A Certificates:  $93,910,000	Rated Final Distribution Date:

February 2039
	[CUSIP:  U63793 AA8

ISIN:  USU63793AA83]5	
         

        Initial Certificate Balance of this 

        Certificate: $[__]

         

	
        [CUSIP: 63874R AA9

        ISIN: US63874RAA95]6

         

        [CUSIP: 63874R AB7

        ISIN: US63874RAB78]7

        No.: A [-1]

         
	 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class A Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class X, Class B, Class C, Class D, Class V-ABC, Class V-D, Class V2
and Class R Certificates (collectively with the Class A Certificates, the “Certificates”; the holders of Certificates
issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not

 

 

5       For Regulation S Global Certificate only.

 

6       For Certificate sold in reliance on Rule 144A only.

 

7       For IAI Definitive Certificate only.

 

    Exhibit A-1-4

     

    

 

defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class A Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee,

 

    Exhibit A-1-5

     

    

 

without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the

 

    Exhibit A-1-6

     

    

 

last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-1-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:	March __, 2019

  

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

	 	 	

 

Certificate of Authentication

 

This is one of the Class
A Certificates referred to in the Trust and Servicing Agreement.

 

Dated:	March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-1-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-1-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________
__________________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-1-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-1-11

     

    

 

EXHIBIT
A-2

 

FORM OF CLASS B CERTIFICATES

 

CLASS B

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-2-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CLASS B CERTIFICATE IS SUBORDINATED
TO THE CLASS A CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-2-2

     

    

 

THIS CERTIFICATE MAY
NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER
PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR
ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH
PERSON IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION
UNDER THE SECURITIES ACT OF 1933 AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL
NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR CODE SECTION 4975 (OR A SIMILAR NON-EXEMPT
VIOLATION OF SIMILAR LAW).

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-2-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS B

 

	Pass-Through Rate:  3.9726%	 
	First Distribution Date:  April 17, 2019	 
	Aggregate Initial Certificate Balance of the 

Class B Certificates:  $24,290,000	Rated Final Distribution Date:

February 2039
	[CUSIP:  U63793 AC4

ISIN:  USU63793AC40]5	
         

        Initial Certificate Balance of this

        Certificate: $[__]

         

	
        [CUSIP: 63874R AE1

        ISIN: US63874RAE18]6

         

        [CUSIP: 63874R AF8

        ISIN: US63874RAF82]7

        No.: B[-1]

         
	 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class B Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X, Class C, Class D, Class V-ABC, Class V-D, Class
V2 and Class R Certificates (collectively with the Class B Certificates, the “Certificates”; the holders of
Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-2-4

     

    

 

defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class B Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee,

 

    Exhibit A-2-5

     

    

 

without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the

 

    Exhibit A-2-6

     

    

 

last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-2-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:	March __, 2019

  

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

	 	 	

 

Certificate of Authentication

 

This is one of the Class
B Certificates referred to in the Trust and Servicing Agreement.

 

Dated:	March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-2-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-2-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________
__________________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-2-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-2-11

     

    

 

EXHIBIT
A-3

 

FORM OF CLASS C CERTIFICATES

 

CLASS C

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-3-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CLASS C CERTIFICATE IS SUBORDINATED
TO THE CLASS A AND CLASS B CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-3-2

     

    

 

THIS CERTIFICATE MAY NOT BE PURCHASED
BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT
TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED
INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT
OF 1933 AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE
RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR CODE SECTION 4975 (OR A SIMILAR NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-3-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS C

 

	Pass-Through Rate:  4.1740%	 
	First Distribution Date:  April 17, 2019	 
	Aggregate Initial Certificate Balance of the 

Class C Certificates:  $18,400,000	Rated Final Distribution Date:

February 2039
	[CUSIP:  U63793 AD2

ISIN:  USU63793AD23]5	
         

        Initial Certificate Balance of this 

        Certificate: $[__]

         

	
        [CUSIP: 63874R AG6

        ISIN: US63874RAG65]6

         

        [CUSIP: 63874R AH4

        ISIN: US63874RAH49]7

        No.: C[-1]

         
	 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class C Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X, Class B, Class D, Class V-ABC, Class V-D, Class
V2 and Class R Certificates (collectively with the Class C Certificates, the “Certificates”; the holders of
Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-3-4

     

    

 

defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class C Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee,

 

    Exhibit A-3-5

     

    

 

without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the

 

    Exhibit A-3-6

     

    

 

last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-3-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:	March __, 2019

  

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

	 	 	

 

Certificate of Authentication

 

This is one of the Class
C Certificates referred to in the Trust and Servicing Agreement.

 

Dated:	March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-3-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-3-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________
__________________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-3-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-3-11

     

    

 

EXHIBIT
A-4

 

FORM OF CLASS D CERTIFICATES

 

CLASS D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-4-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CLASS D CERTIFICATE IS SUBORDINATED
TO THE CLASS A, CLASS B AND CLASS C CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO
HEREIN.

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-4-2

     

    

 

THIS CERTIFICATE MAY NOT BE PURCHASED
BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT
TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED
INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT
OF 1933 AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE
RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR CODE SECTION 4975 (OR A SIMILAR NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-4-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS D

 

	Pass-Through Rate:  Variable	 
	First Distribution Date:  April 17, 2019	 
	Aggregate Initial Certificate Balance of the 

Class D Certificates:  $62,400,000	Rated Final Distribution Date:

February 2039
	[CUSIP:  U63793 AE0

ISIN:  USU63793AE06]5	
         

        Initial Certificate Balance of this 

        Certificate: $[__]

         

	
        [CUSIP: 63874R AJ0

        ISIN: US63874RAJ05]6

         

        [CUSIP: 63874R AK7

        ISIN: US63874RAK77]7

        No.: D[-1]

         
	 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class D Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X, Class B, Class C, Class V-ABC, Class V-D, Class
V2 and Class R Certificates (collectively with the Class D Certificates, the “Certificates”; the holders of
Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-4-4

     

    

 

defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class D Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee,

 

    Exhibit A-4-5

     

    

 

without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the

 

    Exhibit A-4-6

     

    

 

last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-4-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:	March __, 2019

  

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

	 	 	

 

Certificate of Authentication

 

This is one of the Class
D Certificates referred to in the Trust and Servicing Agreement.

 

Dated:	March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-4-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-4-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________
__________________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-4-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-4-11

     

    

 

EXHIBIT
A-5

 

FORM OF CLASS X CERTIFICATES

 

CLASS X

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-6-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X CERTIFICATES IS EQUAL TO AN AMOUNT AS SET FORTH
IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

 

4 Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-6-2

     

    

 

THIS CERTIFICATE MAY NOT BE PURCHASED
BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT
TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED
INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT
OF 1933 AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE
RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR CODE SECTION 4975 (OR A SIMILAR NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-6-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS X

 

	Pass-Through Rate:  Variable IO	 
	First Distribution Date:  April 17, 2019	 
	Original Aggregate Notional Balance of the

Class X Certificates:  $136,600,000	Rated Final Distribution Date:

February 2039
	[CUSIP:  U63793 AB6

ISIN:  USU63793AB66]5	Initial Notional Balance of this

Certificate:  $[__]
	
         

        [CUSIP: 63874R AC5

        ISIN: US63874RAC51]6

         

        [CUSIP: 63874R AD3

        ISIN: US63874RAD35]7

        No.: X-[1]

         
	 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class X Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class B, Class C, Class D, Class V-ABC, Class V-D, Class
V2 and Class R Certificates (collectively with the Class X Certificates, the “Certificates”; the holders of
Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-6-4

     

    

 

defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class X Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

During each Certificate
Interest Accrual Period (as defined below), interest on the Class X Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during a Certificate Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement. The “Certificate
Interest Accrual Period” means, with respect to any Distribution Date, the period from and including the fifth day of the
calendar month immediately preceding the calendar month in which such Distribution Date occurs to and including the fourth day
of the calendar month in which such Distribution Date occurs.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

    Exhibit A-6-5

     

    

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee, without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

    Exhibit A-6-6

     

    

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-6-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:	March __, 2019

  

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

	 	 	

 

Certificate of Authentication

 

This is one of the Class
X Certificates referred to in the Trust and Servicing Agreement.

 

Dated:	March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-6-8

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________
__________________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-6-9

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-6-10

     

    

 

EXHIBIT
A-6

 

FORM OF CLASS R CERTIFICATE

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

THIS CERTIFICATE REPRESENTS A “RESIDUAL
INTEREST” IN TWO “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF,
IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS, DISQUALIFIED
NON-U.S. PERSONS OR AGENTS OF EITHER, AS SET FORTH IN SECTION 5.3 OF THE TRUST AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO
FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT
A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5), OR AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER
MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT HAS HISTORICALLY PAID ITS DEBTS AS
THEY HAVE COME DUE AND INTENDS TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C) IT UNDERSTANDS THAT IT MAY INCUR TAX LIABILITIES
WITH RESPECT TO THIS CERTIFICATE IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING
THIS CERTIFICATE AS THEY BECOME DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN
PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S.
PERSON AND (F) IT WILL NOT TRANSFER THIS CERTIFICATE TO ANY PERSON OR ENTITY THAT DOES NOT PROVIDE A SIMILAR AFFIDAVIT. ANY PURPORTED
TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS
SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE THIS CERTIFICATE REPRESENTS MULTIPLE
“NON-ECONOMIC RESIDUAL INTERESTS,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c), TRANSFERS OF THIS CERTIFICATE
MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES.

 

    Exhibit A-6-1

     

    

 

IN ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL
NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE
PROPOSED TRANSFEREE AND EITHER TO TRANSFER AT A MINIMUM PRICE OR TO AN ELIGIBLE TRANSFEREE AS SPECIFIED IN TREASURY REGULATIONS.

 

The
Certificate Administrator shall be the “partnership representative” within the meaning of Section 6223 of the Code
of the Upper-Tier REMIC and the Lower-Tier REMIC. The Holders of the Class R Certificates, by acceptance of the Class R
Certificates, agree, on behalf of themselves and all successor Holders of such Class R Certificates, to the irrevocable appointment
of the Certificate Administrator as the “partnership representative” for the Upper-Tier REMIC and the Lower-Tier REMIC.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CERTIFICATE MAY NOT BE PURCHASED
BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT
TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER

 

    Exhibit A-6-2

     

    

 

PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW” ), OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE.

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM THE 1933
ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

    Exhibit A-6-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS R

 

	Pass-Through Rate:  N/A	 
	First Distribution Date:  April 17, 2019	 
	Percentage Interest of the Class R Certificates:  N/A	Rated Final Distribution Date:

N/A
	[CUSIP:  U63793 AF7

ISIN:  USU63793AF70]1	 
	 	 
	
        [CUSIP: 63874R AL5

        ISIN: US63874RAL50]2

         

        [CUSIP: 63874R AM3

ISIN: US63874RAM34]3

No.: R-[1]
	 

 

This certifies that [______]
is the registered owner of the percentage interest evidenced by this Certificate in the distributions to be made from a Trust Fund
with respect to the Class R Certificates. The Trust Fund consists primarily of two promissory notes secured by a partial interest
in the Collateral held in trust by the Trustee issued by a special purpose entity evidencing a fixed rate loan (the “Trust
Loan”). The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to the Trust and Servicing Agreement
(as defined below). The holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions
of the Trust and Servicing Agreement and is bound thereby. Also issued under the Trust and Servicing Agreement are the Class A,
Class X, Class B, Class C, Class D, Class V-ABC, Class V-D and Class V2 Certificates (collectively with the Class R Certificates,
the “Certificates”; the holders of Certificates issued under the Trust and Servicing Agreement are collectively
referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

 

1       For
Regulation S Global Certificate only.

 

2       For
Certificate sold in reliance on Rule 144A only.

 

3       For
IAI Definitive Certificate only.

 

    Exhibit A-6-4

     

    

 

This Class R Certificate
represents the sole “residual interest” in two “real estate mortgage investment conduits”, as those terms
are defined, respectively, in Sections 860G(a)(2) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income. The Certificate Administrator shall be the “partnership representative” within
the meaning of Section 6223 of the Code of the Upper-Tier REMIC and the Lower-Tier REMIC. The Holders of the Class R Certificates,
by acceptance of the Class R Certificates, agree, on behalf of themselves and all successor Holders of such Class R Certificates,
to the irrevocable appointment of the Certificate Administrator as the “partnership representative” for the Upper-Tier
REMIC and the Lower-Tier REMIC.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Trustee.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last day of the calendar
month preceding the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day
immediately preceding such date. Such distributions shall be made on each Distribution Date other than the Termination Date to
each Certificateholder of record on the related Record Date, by wire transfer of immediately available funds to the account of
such Holder at a bank or other entity located in the United States and having appropriate facilities therefor provided that such
Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior to the related
Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register.
The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting
as such agent) that is specified in the notice to Holders of such final distribution.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate

 

    Exhibit A-6-5

     

    

 

Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee, without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution

 

    Exhibit A-6-6

     

    

 

Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-6-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

Certificate of Authentication

 

This is one of the Class
R Certificates referred to in the Trust and Servicing Agreement.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-6-8

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the
undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I (we) further direct
the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to
the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer Identification Number: _________

 

    Exhibit A-6-9

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address of the Assignee(s) for the purpose
of receiving notices and distributions: ____________________________________________________________.

 

Distributions, if being
made by wire transfer in immediately available funds, to _________________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by ___________________________________________________________________________ the Assignee(s) named above,
or ________________________________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-6-10

     

    

 

EXHIBIT
A-7

 

FORM OF CLASS V-ABC CERTIFICATES

 

CLASS V-ABC

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-7-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

IN ADDITION, SUBJECT TO THE CONDITIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE OTHER CERTIFICATES IN THE RELATED EXCHANGEABLE
GROUP OF CERTIFICATES,

 

 

4       Legend
required for certificate evidencing any part of the RR Interest.

  

    Exhibit A-7-2

     

    

 

MAY BE EXCHANGED FOR ANOTHER EXCHANGEABLE GROUP OF CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN
THE TRUST AND SERVICING AGREEMENT.

 

SUBJECT TO THE CONDITIONS SET FORTH
IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE
TRUST AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS V2 CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN THE TRUST
AND SERVICING AGREEMENT. 

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN MULTIPLE “REGULAR INTERESTS” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-7-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS V-ABC

 

	Pass-Through Rate:  N/A.  The Class V-ABC Certificates will not have a Pass-Through Rate, but will be entitled to receive the Class V-ABC Percentage Interest of the aggregate interest distributable on the Class A, Class X, Class B and Class C Regular Interests.	 
	First Distribution Date:  April 17, 2019	Rated Final Distribution Date:

February 2039
	
        Original Aggregate Certificate Balance of the

        Class V-ABC Certificates: $136,600,000

         

        The original aggregate Certificate Balance of the Class V-ABC
        Certificates is equal to the aggregate Certificate Balance of the Class A, Class X and Class B Regular Interests on the Closing
        Date (without giving effect to any exchanges on the Closing Date).

         
	Aggregate Initial Certificate Balance of the Class V-ABC Certificates:  $0 (subject to exchanges for another Exchangeable Group of Certificates pursuant to Section 5.8 of the Trust and Servicing Agreement on or after the Closing Date)
	[CUSIP:  U63793 AG5

ISIN:  USU63793AG53]5	
        Initial Certificate Balance of this

        Certificate: $[__]

         

	 	 
	
        [CUSIP: 63874R AN1

        ISIN: US63874RAN17]6

         

        [CUSIP: 63874R AP6

ISIN: US63874RAP64]7

No.: V-ABC[-1]
	 

 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class V-ABC Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-7-4

     

    

 

the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X, Class B, Class C, Class D, Class V-D, Class
V2 and Class R Certificates (collectively with the Class V-ABC Certificates, the “Certificates”; the holders
of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class V-ABC Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

    Exhibit A-7-5

     

    

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee, without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

    Exhibit A-7-6

     

    

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-7-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

Certificate of Authentication

 

This is one of the Class
V-ABC Certificates referred to in the Trust and Servicing Agreement.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-7-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate]
have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-7-9

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the
undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I (we) further direct
the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to
the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-7-10

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address of the Assignee(s) for the purpose
of receiving notices and distributions: ____________________________________________________________.

 

Distributions, if being
made by wire transfer in immediately available funds, to _________________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by ___________________________________________________________________________ the Assignee(s) named above,
or ________________________________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-7-11

     

    

 

EXHIBIT
A-8

 

FORM OF CLASS V-D CERTIFICATES

 

CLASS V-D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-8-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

IN ADDITION, SUBJECT TO THE CONDITIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE OTHER CERTIFICATES IN THE RELATED EXCHANGEABLE
GROUP OF CERTIFICATES,

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-8-2

     

    

 

MAY BE EXCHANGED FOR ANOTHER EXCHANGEABLE GROUP OF CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN
THE TRUST AND SERVICING AGREEMENT.

 

SUBJECT TO THE CONDITIONS SET FORTH
IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE
TRUST AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS V2 CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN THE TRUST
AND SERVICING AGREEMENT. 

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-8-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS V-D

 

	Pass-Through Rate:  The Class V-D Certificates will not have a Pass-Through Rate, but will be entitled to receive the Class V-D Percentage Interest of the interest distributable on the Class D Regular Interest.	 
	First Distribution Date:  April 17, 2019	Rated Final Distribution Date:

February 2039
	
        Original Aggregate Certificate Balance of the

        Class V-D Certificates: $62,400,000

         

        The original aggregate Certificate Balance of the Class V-D
        Certificates is equal to the aggregate Certificate Balance of the Class D Regular Interest on the Closing Date (without giving
        effect to any exchanges on the Closing Date).

         
	Aggregate Initial Certificate Balance of the Class V-D Certificates:  (subject to exchanges for another Exchangeable Group of Certificates pursuant to Section 5.8 of the Trust and Servicing Agreement on or after the Closing Date)
	[CUSIP:  U63793 AH3

ISIN:  USU63793AH37]5	
        Initial Certificate Balance of this

        

        Certificate: $[__]

         

	 	 
	
        [CUSIP: 63874R AQ4

        ISIN: US63874RAQ48]6

         

        [CUSIP: 63874R AR2

ISIN: US63874RAR21]7

No.: V-D[-1]
	 

 

This certifies that [Cede
& Co.] [[____], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class V-D Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-8-4

     

    

 

Servicing Agreement are the Class A, Class X, Class B, Class C, Class D, Class V-ABC, Class
Class V2 and Class R Certificates (collectively with the Class V-D Certificates, the “Certificates”; the holders
of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class V-D Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate

 

    Exhibit A-8-5

     

    

 

Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee, without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator

 

    Exhibit A-8-6

     

    

 

and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-8-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

 

Certificate of Authentication

 

This is one of the Class
V-D Certificates referred to in the Trust and Servicing Agreement.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer

 

    Exhibit A-8-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate]
have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-8-9

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the
undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I (we) further direct
the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to
the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-8-10

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions: ____________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to _________________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by ___________________________________________________________________________ the Assignee(s) named above,
or ________________________________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-8-11

     

    

 

EXHIBIT
A-9

 

FORM OF CLASS V2 CERTIFICATES

 

CLASS V2

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION
S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED,
EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY
REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

[THIS CERTIFICATE IS PART OF THE RR
INTEREST FOR THE RELATED SECURITIZATION AND IS SUBJECT TO CERTAIN RESTRICTIONS ON

 

 

1       Temporary
Regulation S Global Certificate legend.

 

2       Legend
required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3       Global
Certificate legend.

 

    Exhibit A-9-1

     

    

 

TRANSFERS, HEDGING AND PLEDGING PURSUANT TO THE
CREDIT RISK RETENTION RULE.]4 

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE INITIAL PURCHASERS,
THE LOAN SELLERS, THE CERTIFICATE ADMINISTRATOR OR ANY OF THEIR RESPECTIVE AFFILIATES (OTHER THAN THE BORROWER AS SET FORTH IN
THE OFFERING CIRCULAR). NEITHER THIS CERTIFICATE NOR THE UNDERLYING LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO
A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (A “QIB”) WITHIN
THE MEANING OF RULE 144A, OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE,
PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION,” AS DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (3) UPON INITIAL ISSUANCE ONLY TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONS THAT ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

IN ADDITION, SUBJECT TO THE CONDITIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH THE OTHER CERTIFICATES IN THE RELATED EXCHANGEABLE
GROUP OF CERTIFICATES,

 

 

4
Legend required for certificate evidencing any part of the RR Interest.

 

    Exhibit A-9-2

     

    

 

MAY BE EXCHANGED FOR ANOTHER EXCHANGEABLE GROUP OF CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN
THE TRUST AND SERVICING AGREEMENT.

 

SUBJECT TO THE CONDITIONS SET FORTH
IN THE TRUST AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE
TRUST AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS V1 CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN THE TRUST
AND SERVICING AGREEMENT. 

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN MULTIPLE “REGULAR INTERESTS” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-9-3

     

    

 

NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST
2019-NEMA,

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2019-NEMA, CLASS V2

 

	Pass-Through Rate: The Class V2 Certificates will not have a Pass-Through Rate, but will be entitled to receive the Class V2 Percentage Interest of the sum of the interest distributable on the Regular Interests.	 
	First Distribution Date:  April 17, 2019	Rated Final Distribution Date:

February 2039
	
        Original Aggregate Certificate Balance of the

        Class V2 Certificates: $199,000,000

         

        The original aggregate Certificate Balance of the Class V2 Certificates
        is equal to the aggregate of the Regular Interests on the Closing Date (without giving effect to any exchanges on the Closing Date).

         
	Aggregate Initial Certificate Balance of the Class V2 Certificates:  $[__] (subject to exchanges for another Exchangeable Group of Certificates pursuant to Section 5.8 of the Trust and Servicing Agreement on or after the Closing Date)
	[CUSIP:  U63793 AJ9

ISIN:  USU63793AJ92]5	
        Initial Certificate Balance of this 

        Certificate: $[__]

         

	 	 
	
        [CUSIP: 63874R AS0

        ISIN: US63874RAS04]6

         

        [CUSIP: 63874R AT8

ISIN: US63874RAT86]7

No.: V2[-1]
	 

 

This certifies that [Cede
& Co.] [[__], in its capacity as Retaining Party in satisfaction of Regulation RR] is the registered owner of the Percentage
Interest evidenced by this Certificate in the distributions to be made from a Trust Fund with respect to the Class V2 Certificates.
The Trust Fund consists primarily of two promissory notes secured by the Collateral held in trust by the Trustee issued by a special
purpose entity evidencing a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X, Class B, Class C, Class D, Class V-ABC, Class

 

 

5       For
Regulation S Global Certificate only.

 

6       For
Certificate sold in reliance on Rule 144A only.

 

7       For
IAI Definitive Certificate only.

 

    Exhibit A-9-4

     

    

 

Class V-D and Class R Certificates (collectively with the Class V2 Certificates, the “Certificates”; the holders
of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued
pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator
and Custodian. To the extent not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the
Trust and Servicing Agreement.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination
Date, commencing in April 2019 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last day of the calendar month preceding
the month in which such Distribution Date occurs or, if such last day is not a Business Day, the Business Day immediately preceding
such date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate)
of that portion of the aggregate amount of principal and interest and any Yield Maintenance Premiums then distributable, if any,
allocable to the Class V2 Certificates for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will
be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate
Register or, provided that such Certificateholder shall have provided the Certificate Administrator with a written request for
payment by wire transfer, together with wire instructions, at least five Business Days prior to the related Distribution Date,
by wire transfer of immediately available funds to the account of such Certificateholder at a bank or other entity located in the
United States and having appropriate facilities therefor. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the location that is specified in the notice to Certificateholders
of such final distribution.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer
of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation
of this Certificate for registration of transfer, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer,
the Certificate Registrar, and any agent of the Certificate Administrator, the Trustee, the Servicer, the Special

 

    Exhibit A-9-5

     

    

 

Servicer or the
Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the
purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and
neither the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, the Certificate Registrar, nor any agent
of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer or the Certificate Registrar shall be affected
by any notice to the contrary.

 

The Trust and Servicing
Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
and the Trustee, without the consent of any of the Certificateholders or the Companion Loan Holders, in certain circumstances specified
in the Trust and Servicing Agreement, subject to certain exceptions set forth in the Trust and Servicing Agreement. The Trust and
Servicing Agreement may also be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee with the written consent of the holders of Certificates of each Class affected by such amendment
(including, for the avoidance of doubt, any Holder of an RR Interest) evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class and any Companion Loan Holder if materially and adversely affected, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust and Servicing Agreement
or of modifying in any manner the rights of the holders of the Certificates; provided, however, that certain specified
amendments require the consent of the holders of all Certificates representing all of the Percentage Interests of the Class or
Classes adversely affected thereby and the consent of any affected Companion Loan Holder. Notwithstanding the foregoing, no amendment
to the Trust and Servicing Agreement may be made that changes in any manner the obligations of the Loan Seller under the Trust
and Servicing Agreement or under the Loan Purchase Agreement without the consent of the Loan Seller, the rights of any Initial
Purchaser under the Trust and Servicing Agreement without the written consent of such Initial Purchaser, or that adversely affects
the rights and/or obligations, if any, of a Companion Loan Holder under the Trust and Servicing Agreement without the consent of
such Companion Loan Holder, and the Certificate Administrator or Trustee may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Certificate Administrator or Trustee under the Trust and Servicing Agreement. In addition, no amendment may be made to
the Trust and Servicing Agreement unless the Certificate Administrator, the Trustee, the Servicer and the Special Servicer have
first received an Opinion of Counsel (at the expense of the requesting party, if applicable, and otherwise or if at the Trustee’s
or the Certificate Administrator’s request, then at the Trust Fund’s expense) to the effect that the amendment is authorized
or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Trustee, the Certificate Administrator or any other
specified person in accordance with the amendment, will not result in the imposition of any tax on any portion of the Trust or
cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify
as a grantor trust under the Code.

 

The Trust and Servicing
Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the
Certificate Administrator and the Trustee created thereby with respect to the Certificates (other than (i) the obligation to

 

    Exhibit A-9-6

     

    

 

make
certain payments to the Senior Companion Loan Holders, (ii) the obligation of the Certificate Administrator to make certain payments
to Certificateholders after the final Distribution Date and (iii) the indemnification obligations of the parties thereto) shall
terminate upon the last action required to be taken by the Certificate Administrator on the final Distribution Date pursuant to
Article 10 of the Trust and Servicing Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation
of the Trust Loan or the liquidation or abandonment of the Property and all other Collateral for the Whole Loan; provided,
however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on
the date hereof.

 

By its acceptance of
a Certificate, each Certificateholder acknowledges and agrees that the Directing Holder, the Holders of the Certificates in the
Controlling Class and the Risk Retention Consultation Party (i) may each have special relationships and interests that conflict
with those of Certificateholders of one or more Classes of the Certificates, (ii) may act solely in its own interests or in
the interests of the holders of the Controlling Class or the RR Interest, (iii) do not have any duties or liability to the
Issuing Entity or to the Holders of any Class of Certificates, (iv) may take actions that favor the interests of the Companion
Loans or the interests of one or more Classes of the Certificates or the RR Interest over other Classes of the Certificates, (v)
shall have no liability whatsoever to the Trust, the other parties hereto, the Certificateholders or any other person (including
any Borrower Affiliate) for having acted in accordance with or as permitted under the terms of this Agreement, and the Certificateholders
may not take any action whatsoever against the Directing Holder, the holders of the Certificates in the Controlling Class, the
Risk Retention Consultation Party or any of the respective affiliates, directors, officers, shareholders, members, partners, agents
or principals of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party as a result of the Directing Holder, the holders of the Certificates in the Controlling Class or the Risk Retention Consultation
Party having acted in accordance with the terms of and as permitted under the Trust and Servicing Agreement.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    Exhibit A-9-7

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

 

Certificate of Authentication

 

This is one of the Class
V2 Certificates referred to in the Trust and Servicing Agreement.

 

Dated: March __, 2019

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Officer 

 

    Exhibit A-9-8

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and
exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate]
have been made:

 

	Date of

 Exchange or

 Payment of 

Principal 	 	Certificate

 Balance

 Prior to

 Exchange or

 Payment 	 	Certificate

 Balance

 Exchanged

 or Principal

 Payment

 Made 	 	Type of

 Certificate

 Exchanged

 for 	 	Remaining

 Certificate

 Balance

 Following

 Such

 Exchange or

 Payment 	 	Notation 

Made by 	 
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-
	 	-	 	-	 	-	 	-	 	-	 	-

 

    Exhibit A-9-9

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the
undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I (we) further direct
the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to
the above-named Assignee(s) and to deliver such Certificate to the following address:

	 
	 
	 
	 
	Date:
    __________________

	 	 	 
	 	Signature
    by or on behalf of
	 	Assignor(s):
	 	 	 
	 	 
	 	Taxpayer
    Identification Number: _________

 

    Exhibit A-9-10

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions: ____________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to _________________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by ___________________________________________________________________________ the Assignee(s) named above,
or ________________________________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    Exhibit A-9-11

     

    

 

EXHIBIT B

 

FORM OF REQUEST FOR RELEASE

(for Custodian) 

	Loan Information
	 	Name of Mortgagor:	
 

	 	[Servicer] [Special 

Servicer] Loan No.:	
 

	Custodian
	 	Name:	Wells Fargo Bank, National Association
	 	Address:	1055 10th Avenue SE, Minneapolis, Minnesota 55414, 

Attention: CMBS – NCMS 2019-NEMA
	 	Custodian/Trustee Mortgage File No.:	
 

	Depositor
	 	Name:	Natixis Commercial Mortgage Securities LLC
	 	 	 
	 	Address:	

        1251 Avenue of the Americas 

        New York, New York 10020 

        Attention: Margaret Lam 

	 	Certificates:	Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA

 

The
undersigned [Servicer] [Special Servicer] hereby requests from Wells Fargo Bank, National Association, as custodian (the “Custodian”),
for the Holders of Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series
2019-NEMA, the documents referred to below (the “Documents”). All capitalized terms not otherwise defined in
this Request for Release shall have the meanings given them in the Trust and Servicing Agreement, dated as of March 29, 2019,
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian.

 

		( )	Promissory Note A-1 dated as of March 7, 2019, in the original principal sum of $130,000,000, made by Natixis Real Estate
Capital LLC, payable to, or endorsed to the order of, the Trustee.

 

    Exhibit B-1

     

    

 

	( )	Note A-B dated as of March 7, 2019, in the original principal sum of $69,000,000, made by Natixis Real Estate Capital LLC,
payable to, or endorsed to the order of, the Trustee. 

 

	( )	Mortgage(s) recorded on ____________ as instrument no. ________ in the County Recorder’s Office of the County of _________,
State of ___________ in book/reel/docket ___________ of official records at page/image ________.

 

	( )	Deed of Trust(s) recorded on __________ as instrument no. ________ in the County Recorder’s Office of the County of ___________,
State of _______ in book/reel/docket ____________ of official records at page/image.

 

	( )	Deed to Secure Debt recorded on __________ as instrument no. ________ in the County Recorder’s Office of the County of ___________,
State of _______ in book/reel/docket ____________ of official records at page/image.

 

	( )	Other documents, including any amendments, assignments or other assumptions of the Note or the Mortgage.

 

	( )	 
	 	 
	( )	 
	 	 
	( )	 
	 	 
	( )	 

  

The undersigned [Servicer]
[Special Servicer] hereby acknowledges and agrees as follows:

 

(1)       The
[Servicer] [Special Servicer] shall hold and retain possession of the Documents in trust for the benefit of the Custodian, solely
for the purposes provided in the Trust and Servicing Agreement.

 

(2)       The
[Servicer] [Special Servicer] shall not cause or permit the Documents to become subject to, or encumbered by, any claims, liens,
security interests, charges, writs of attachment or other impositions nor shall the [Servicer] [Special Servicer] assert or seek
to assert any claims or rights of set-off to or against the Documents or any proceeds thereof except as otherwise provided in the
Trust and Servicing Agreement.

 

(3)       The
[Servicer] [Special Servicer] shall return the Documents to the Custodian when the need therefor no longer exists, unless the Whole
Loan has been liquidated or the Whole Loan has been paid in full and the proceeds thereof have been remitted to the Collection
Account except as expressly provided in the Trust and Servicing Agreement.

 

(4)       The
Documents, coming into the possession or control of the [Servicer] [Special Servicer] shall at all times be earmarked for the account
of the Custodian, and the

 

    Exhibit B-2

     

    

 

[Servicer] [Special Servicer] shall keep the Documents separate and distinct from all other property
in the [Servicer’s] [Special Servicer’s] possession, custody or control.

	 	 	 
	 	[KEYBANK NATIONAL ASSOCIATION]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
		 	 	 	 

	 	[SITUS HOLDINGS, LLC]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Date: 	 	 	 	 

 

    Exhibit B-3

     

    

 

EXHIBIT C

 

FORM OF TRANSFER CERTIFICATE

FOR RULE 144A GLOBAL CERTIFICATE

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges or transfers pursuant to

Section 5.3(c) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479 

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__]

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance][Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Global Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear] [Clearstream]*
(Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

 

*       Select
appropriate depository.

 

    Exhibit C-1

     

    

 

[(2) at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States;]**

 

[(2) the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)       no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable;
and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

  

cc: Natixis Commercial Mortgage Securities LLC

 

 

**       Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.

    Exhibit C-2

     

    

 

EXHIBIT D

 

FORM OF TRANSFER CERTIFICATE

FOR RULE 144A GLOBAL CERTIFICATE

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.3(d) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479 

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__]

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance][Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Global Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and, (i) with respect to transfers
made in reliance on Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    Exhibit D-1

     

    

 

[(2)      at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States,]*

 

[(2)      the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)       no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers
made in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates are being transferred
in a transaction permitted by Rule 144 under the Securities Act.**

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

 

cc: Natixis Commercial Mortgage Securities LLC

 

 

*         Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S. 

**       Select
(i) or (ii), as applicable.

 

    Exhibit D-2

     

    

 

EXHIBIT E

 

FORM OF TRANSFER CERTIFICATE

FOR TEMPORARY REGULATION S GLOBAL CERTIFICATE

TO RULE 144A GLOBAL CERTIFICATE DURING RESTRICTED PERIOD

 

(Exchange or transfers pursuant to

Section 5.3(e) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are
held in the form of a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS No. [______]
and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through
the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested an
exchange or transfer of such beneficial interest for a beneficial interest in the Rule 144A Global Certificate of such Class
(CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended
(the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates
for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion, and
the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

 

*       Select
appropriate depository.

    Exhibit E-1

     

    

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

 

cc: Natixis Commercial Mortgage Securities LLC

  

    Exhibit E-2

     

    

 

EXHIBIT F

 

FORM OF CERTIFICATION TO BE GIVEN BY

BENEFICIAL OWNER OF TEMPORARY

REGULATION S GLOBAL CERTIFICATE

 

(Exchanges pursuant to

Section 5.3(f) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
CMBS – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

[For purposes of acquiring
a beneficial interest in a Regulation S Global Certificate of the Class specified above after the expiration of the Restricted
Period,] [For purposes of receiving payments under a Temporary Regulation S Global Certificate of the Class specified above,]*
the undersigned holder of a beneficial interest in a Temporary Regulation S Global Certificate of the Class specified above
issued under the Trust and Servicing Agreement certifies that it is not a U.S. Person as defined by Regulation S under the
Securities Act of 1933, as amended.

 

We undertake to advise
you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification relating to the
Certificates of the Class specified above held by you for our account if any applicable statement herein is not correct on such
date, and in the absence of any such notification it may be assumed that this certification applies as of such date.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we

 

 

*       Select,
as applicable.

 

    Exhibit F-1

     

    

 

irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator and the Initial Purchasers.

 

		Dated: 	             	 

 

		By:	 	 
	 	 	as, or as agent for, the holder of a beneficial interest in the Certificates to which this certificate relates.

 

    Exhibit F-2

     

    

 

EXHIBIT G

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479 

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are
held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor] (the
“Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates for
a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS No. [______] and ISIN No. [______])
to be held with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository.

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

 

*       Select
appropriate depository.

    Exhibit G-1

     

    

 

[(2)      at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States;]**

 

[(2)      the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;] **

 

(3)       no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

 

cc: Natixis Commercial Mortgage Securities LLC

 

 

**       Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.

 

    Exhibit G-2

     

    

 

EXHIBIT H

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479 

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are
held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor] (the
“Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates for
a beneficial interest in the Regulation S Global Certificate (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and, (i) with respect to transfers
made in reliance on Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    Exhibit H-1

     

    

 

[(2)     at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States,]*

 

[(2)     the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)       no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable, and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers
made in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates are being
transferred in a transaction permitted by Rule 144 under the Securities Act.**

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

 

cc:
Natixis Commercial Mortgage Securities LLC

 

 

*       Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.

**     Select
(i) or (ii), as applicable.

 

    Exhibit H-2

     

    

 

EXHIBIT I

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO RULE 144A GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

600 South
4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479 

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. Capitalized
terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to
US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are
held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor] (the
“Transferor”). The Transferor has requested an exchange or transfer of such beneficial interest for a beneficial
interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended
(the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates
for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion, and
the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we

 

    Exhibit I-1

     

    

 

irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator and the Initial Purchasers.

	 	 	 
	 	[Insert
Name of Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	Dated: 	 	 	 	 

 

cc: Natixis Commercial Mortgage Securities LLC

 

    Exhibit I-2

     

    

 

EXHIBIT J-1

 

FORM OF INVESTOR CERTIFICATION FOR NON-BORROWER
 AFFILIATES

 

[Date]

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

9062 Old
Annapolis Road 

Columbia,
Maryland 21045-1951

Attention:
CMBS – Corporate Trust Services NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA 

 

In
accordance with the Trust and Servicing Agreement dated as of March 29, 2019 (the “Trust Agreement”), by and
among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC,
as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.            The
undersigned is either (a) a Certificateholder, a beneficial owner or a prospective purchaser of a Class of Certificates, (b) the
Directing Certificateholder (to the extent a Subordinate Control Period or a Subordinate Consultation Period is in effect) or (c)
the Risk Retention Consultation Party.

 

2.            The
undersigned is not a Borrower Related Party or a Restricted Holder.

 

3.            The
undersigned is requesting access pursuant to the Trust Agreement to certain information (the “Information”)
on the Certificate Administrator’s website and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Trust Agreement.

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Certificate Administrator, be otherwise disclosed
by the undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned will
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require

 

    Exhibit J-1-1

     

    

 

registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.       The
undersigned shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Servicer, the Special Servicer, the Certificate Administrator and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

5.       The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

6.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 	 	 	 	 
	 	 

                                                        [[Certificateholder] [Beneficial Owner]

	 	[Prospective Purchaser] [Directing 

Certificateholder] [Risk Retention 

Consultation Party]
	 	 
	 	By:	 	 	 
	 	 	 	 	 
	 	Name:	 	 	 
	 	 	 	 	 
	 	Title:	 	 	 
	 	 	 	 	 
	 	Company: 	 	 
	 	 	 	 
	 	Phone: 	 	 	]*

 

 

*
 Not applicable to certifications provided by means of a “click-through” confirmation.

    Exhibit J-1-2

     

    

 

EXHIBIT J-2

 

FORM OF INVESTOR CERTIFICATION

 

For

 

BORROWER
RELATED PARTIES

 

[Date]

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

9062 Old
Annapolis Road 

Columbia,
Maryland 21045-1951 

Attention:
CMBS – Corporate Trust Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class [__] 

 

In
accordance with the requirements for obtaining certain information under the Trust and Servicing Agreement, dated as of March
29, 2019 (the “Trust Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank
National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee,
Certificate Administrator and Custodian, with respect to the certificates (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

1.       The
undersigned is either (a) a Certificateholder, a beneficial owner or a prospective purchaser of a Class of Certificates, (b) the
Directing Certificateholder (to the extent a Subordinate Control Period or a Subordinate Consultation Period is in effect) or (c)
the Risk Retention Consultation Party.

 

2.       The
undersigned is a Borrower Related Party or a Restricted Holder.

 

3.       The
undersigned is requesting access to the Distribution Date Statement information in accordance with the Trust and Servicing Agreement
(the “Information”) and agrees to keep the Information confidential (except from such outside persons as are
assisting it in making an evaluation in connection with purchasing the related Certificates, from its accountants and attorneys,
and otherwise from such governmental or banking authorities or agencies to which the undersigned is subject), and such Information
will not, without the prior written consent of the Trustee, be otherwise disclosed by the undersigned or by its officers, directors,
partners, employees, agents or representatives (collectively, the “Representatives”) in any manner whatsoever,
in whole or in part.

 

 The undersigned
will not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act
of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require

 

    Exhibit J-2-1

     

    

 

registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.       The
undersigned shall be fully liable for any breach of this certificate by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Servicer, the Special Servicer, the Certificate Administrator and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

5.       The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

6.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 	 	 	 	 	 
	 	 

                                                        [[Certificateholder] [Beneficial Owner]

	 	[Prospective Purchaser] [Directing 

Certificateholder] [Risk Retention Consultation Party]
	 	 
	 	By:	 	 	 
	 	 	 	 	 
	 	Name:	 	 	 
	 	 	 	 	 
	 	Title:	 	 	 
	 	 	 	 	 
	 	Company: 	 	 
	 	 	 	 
	 	Phone: 	 	 	]*

 

 

*Not
applicable to certifications provided by means of a “click-through” confirmation.

    Exhibit J-2-2

     

    

 

EXHIBIT J-3

 

ONLINE MARKET DATA PROVIDER CERTIFICATION

 

Wells Fargo Bank, National
Association,

as Certificate Administrator

9062 Old
Annapolis Road 

Columbia,
Maryland 21045-1951

Attention:
CMBS – Corporate Trust Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA 

 

This Certification
has been prepared for provision of information to the market data providers listed in Paragraph 1 below pursuant to the direction
of the Depositor. If you represent a Market Data Provider not listed herein and would like access to the information, please contact
CTSLink at 866-846-4526, or at ctslink.customerservice@wellsfargo.com.

 

In
connection with the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust Agreement”), by and
among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC,
as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of Bloomberg, L.P., Trepp, LLC or Intex Solutions, Inc.,
a market data provider that has been given access to the Distribution Date Statements, CREFC Reports and supplemental notices on
the Certificate Administrator’s Website by request of the Depositor.

 

		2.	The undersigned agrees that each time it accesses Certificate Administrator’s Website, the
undersigned is deemed to have recertified that the representation above remains true and correct.

 

		3.	The undersigned acknowledges and agrees that the provision to it of information and/or reports
on Certificate Administrator’s Website is for its own use only, and agrees that it will not disseminate or otherwise make
such information available to any other person without the written consent of the Depositor.

 

		4.	The undersigned shall be fully liable for any breach of this agreement by itself or by its officers,
directors, partners, employees, agents or representatives (collectively, the “Representatives”) and shall indemnify
the Depositor, the Trustee, the Certificate Administrator, the Servicer, the Special Servicer and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

    Exhibit J-3-1

     

    

 

		5.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the Trust and Servicing Agreement.

 

    Exhibit J-3-2

     

    

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by
its duly authorized signatory, as of the date certified. 

	 	 	 	 
	 	[______________________]	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 
	  	 	 	 	 	 

  

    Exhibit J-3-3

     

    

 

EXHIBIT J-4

 

FORM OF INVESTMENT REPRESENTATION LETTER

 

Wells Fargo Bank, National Association,

 as Certificate Registrar

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: CMBS – Corporate Trust Services – NCMS 2019-NEMA

 

Natixis Commercial Mortgage Securities LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA 

 

Ladies and Gentlemen:

  

This
letter is delivered pursuant to Section 5.2 of the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Servicer, Situs Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, as Certificate
Administrator and as Custodian on behalf of the holders of the Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial
Mortgage Pass-Through Certificates, Series 2019-NEMA (the “Certificates”) in connection with the transfer by
_________________ (the “Seller”) to the undersigned (the “Purchaser”) of _______________
% Interest of Class __ Certificates (the “Certificate”). Capitalized terms used and not otherwise defined herein
shall have the respective meanings ascribed to such terms in the Trust and Servicing Agreement.

 

In connection with such
transfer, the Purchaser hereby represents and warrants to you and the addressees hereof as follows:

 

[For Institutional
Accredited Investors only] 1. The Purchaser is not purchasing a Class R Certificate and the Purchaser is an institutional “accredited
investor” (an entity meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act
of 1933, as amended (the “Securities Act”)) or an entity all of the equity owners of which are such institutions,
and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
its investment in the Certificates, and the Purchaser and any accounts for which it is acting are each able to bear the economic
risk of the Purchaser’s or such account’s investment. The Purchaser is acquiring the Certificates purchased by it for
its own account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of
which the Purchaser exercises sole investment discretion. The Purchaser hereby undertakes to reimburse the Trust for any costs
incurred by it in connection with this transfer.

 

    Exhibit J-4-1

     

    

 

[For Qualified Institutional
Buyers only] 1.  The Purchaser is a “qualified institutional buyer” within the meaning of Rule 144A (“Rule
144A”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Purchaser
is aware that the transfer is being made in reliance on Rule 144A, and the Purchaser has had the opportunity to obtain the information
required to be provided pursuant to paragraph (d)(4)(i) of Rule 144A.

 

		2.	The Purchaser’s intention is to
                                         acquire the Certificate (a) for investment for the Purchaser’s own account or (b)
                                         for resale to (i) “qualified institutional buyers” in transactions under
                                         Rule 144A, and not in any event with the view to, or for resale in connection with, any
                                         distribution thereof, or (ii) (other than with respect to a Class R Certificate) to non-U.S.
                                         Securities Persons in “offshore transactions” as defined in Rule 902(h) of
                                         Regulation S promulgated under the Securities Act, subject in each case to the delivery
                                         of a Transfer Certificate in the form of Exhibit G, Exhibit H or Exhibit I, as applicable,
                                         to the Trust and Servicing Agreement. The Purchaser understands that the Certificate
                                         (and any subsequent Certificate issued in transfer or exchange therefor) has not been
                                         registered under the Securities Act, by reason of a specified exemption from the registration
                                         provisions of the Securities Act which depends upon, among other things, the bona fide
                                         nature of the Purchaser’s investment intent (or intent to resell to only certain
                                         investors in certain exempted transactions) as expressed herein.

 

		3.	The Purchaser has reviewed the preliminary Offering Circular and the final Offering Circular relating
to the Certificates (collectively, the “Offering Circular”) and the agreements and other materials referred
to therein and has had the opportunity to ask questions and receive answers concerning the terms and conditions of the transactions
contemplated by the Offering Circular.

 

		4.	The Purchaser acknowledges that the Certificate (and any Certificate issued in transfer or exchange
therefor) has not been registered or qualified under the Securities Act or the securities laws of any State or any other jurisdiction,
and that the Certificate cannot be resold unless it is registered or qualified thereunder or unless an exemption from such registration
or qualification is available.

 

		5.	The Purchaser hereby undertakes to be bound by the terms and conditions of the Trust and Servicing
Agreement in its capacity as an owner of a Certificate or Certificates, as the case may be (each, a “Certificateholder”),
in all respects as if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Certificate Registrar
and all Certificateholders present and future.

 

		6.	The Purchaser will not sell or otherwise transfer all or any portion of the Certificates, except
in compliance with Section 5.3 of the Trust and Servicing Agreement.

 

		7.	Check one of the following:**

 

 

**
 Each Purchaser must include one of the two alternative certifications.

 

    Exhibit J-4-2

     

    

 

 

		☐	The Purchaser is a U.S. Person (as defined below) and it has attached hereto an Internal Revenue
Service (“IRS”) Form W 9 (or successor form).

 

		☐	The Purchaser is not a U.S. Person and under applicable law in effect on the date hereof, no taxes
will be required to be withheld by the Certificate Administrator (or its agent) with respect to distributions to be made on the
Certificate. The Purchaser has attached hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable (or successor
form), which identifies such Purchaser as the beneficial owner of the Certificate and states that such Purchaser is not a U.S.
Person, (ii) IRS Form W-8IMY (with all appropriate attachments) or (iii)]*** two duly executed copies of IRS Form W-8ECI
(or successor form), which identify such Purchaser as the beneficial owner of the Certificate and state that interest and original
issue discount on the Certificate and Permitted Investments is, or is expected to be, effectively connected with a U.S. trade or
business. The Purchaser agrees to provide to the Certificate Registrar updated [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY
or]*** IRS Form W -8ECI, [as the case may be,]*** any applicable successor IRS forms, or such other certifications
as the Certificate Registrar may reasonably request, on or before the date that any such IRS form or certification expires or becomes
obsolete, or promptly after the occurrence of any event requiring a change in the most recent IRS form of certification furnished
by it to the Certificate Registrar.

 

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

 

 

***
Does not apply to a transfer of Class R Certificates.

 

    Exhibit J-4-3

     

    

 

		8.	Please make all payments due on the Certificates:****

 

		☐	(a)	by wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

	 	 	 
	 	Bank:	 
	 	 	 
	 	ABA #:	 
	 	 	 
	 	Account #:	 
	 	 	 
	 	Attention:	 

 

		☐	(b)	by mailing a check or draft to the following address:

	 	 
	 	 
	 	 

 

		9.	If the Purchaser is purchasing a Class R Certificate, the Purchaser is not a partnership (including
any entity treated as a partnership for U.S. federal income tax purposes), any interest in which is owned, directly or indirectly,
through one or more partnerships, trusts or other pass-through entities by a non-U.S. Person.

 

	 	Very truly yours,
	 	 
	 	 	 
	 	[The Purchaser]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 	Date

 

Dated:
March __, 2019

 

 

****
Only to be filled out by Purchasers of Definitive Certificates. Please select (a) or (b). For holders of Definitive Certificates,
wire transfers are only available if such holder’s Definitive Certificates have an aggregate Certificate Balance
or Notional Amount, as applicable, of at least U.S. $5,000,000.

 

    Exhibit J-4-4

     

    

 

EXHIBIT
K

 

APPLICABLE
SERVICING CRITERIA

 

The
assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as
“Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission
or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based
on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of
doubt, for purposes of this Exhibit K, other than with respect to Item 1122(d)(2)(iii), references to Servicer below shall include
any Sub-Servicer engaged by a Servicer or Special Servicer.

 

	APPLICABLE
                                         Servicing Criteria 	applicable

                                                                                PARTY

	Reference	Criteria	 
	 	General
    Servicing Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Servicer

                                         Special Servicer

        Certificate
        Administrator

         

	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Servicer

                                         Special Servicer

        Certificate
        Administrator

         

	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Servicer

        Special
        Servicer

         

	1122(d)(1)(v)	Aggregation
    of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	Servicer

                                         Special Servicer

        Certificate
        Administrator

         

	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Servicer

        Special
        Servicer

         

	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Certificate
    Administrator

     
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Servicer
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Servicer

                                         Special Servicer 

        Certificate
        Administrator

         

	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.
    For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial
    institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Servicer

                                         Special Servicer

        Certificate
        Administrator

         

 

    Exhibit K-1

     

    

 

	APPLICABLE
                                         Servicing Criteria 	applicable

                                                                                PARTY

	Reference	Criteria	 
	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Servicer

                                         Special Servicer

        Certificate
        Administrator

        

	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after
    the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved
    by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These
    reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified
    in the transaction agreements.	Servicer

    Special Servicer

    Certificate Administrator
	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other
    terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in
    the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with
    investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced
    by the Reporting Servicer.	N/A
	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	N/A
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	N/A
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	N/A
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Servicer

    Special Servicer

    Custodian
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	N/A
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Servicer

    Special Servicer
	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan
    documents.	Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made,
    reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Servicer

    Special Servicer
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and
    repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
    Servicer

 

    Exhibit K-2

     

    

 

	APPLICABLE
                                         Servicing Criteria 	applicable

                                                                                PARTY

	Reference	Criteria	 
	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements,
    and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters
    and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Servicer
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s
    mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest
    on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and
    (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such
    other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xiv)	 Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Servicer
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained
    as set forth in the transaction agreements.	N/A

 

At
all times that the Servicer and Special Servicer are the same entity, the Servicer and the Special Servicer may provide a combined
assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation AB.

 

    Exhibit K-3

     

    

 

EXHIBIT
L

 

FORM
OF CERTIFICATION FOR NRSROs

 

[Date]

 

Wells
Fargo Bank, National Association,

as 17g-5 Information Provider

9062
Old Annapolis Road

Columbia,
Maryland 21045-1951

Attention:
CMBS – Corporate Trust Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA   

 

In
accordance with Trust and Servicing Agreement, dated as of March 29, 2019 (the “Agreement”), by and among Natixis
Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator (solely in such capacity, the “Certificate
Administrator”) and Custodian, with respect to the certificates (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

		1.	The
                                         undersigned is a Rating Agency engaged by the Depositor to rate the   Certificates;
                                         or

 

		2.	The
                                         undersigned has provided the Depositor with the appropriate certifications under Exchange
                                         Act Rule 17g-5(e), had access to the Depositor’s 17g-5 website prior to the Closing
                                         Date, is requesting access pursuant to the Agreement to certain information (the “Information”)
                                         on such 17g-5 website pursuant to the provisions of the Agreement, and agrees that any
                                         confidentiality agreement applicable to the undersigned with respect to the information
                                         obtained from the Depositor’s 17g-5 website prior to the Closing Date shall also
                                         be applicable to information obtained from the 17g-5 Information Provider’s Website
                                         (including without limitation, to any information received by the Depositor for posting
                                         on the 17g-5 Information Provider’s Website), or (y), if the undersigned did not
                                         have access to the Depositor’s 17g-5 website prior to the Closing Date, it hereby
                                         agrees that it shall be bound by the provisions of the confidentiality agreement attached
                                         hereto as Annex A which shall be applicable to it with respect to any information obtained
                                         from the 17g-5 Information Provider’s Website, including any information that is
                                         obtained from the section of the 17g-5 Information Provider’s Website that hosts
                                         the Depositor’s 17g-5 website after the Closing Date; and

 

Agrees
that any confidentiality agreement applicable to the undersigned with respect to information obtained from the Depositor’s
17g-5 website shall also be applicable to information obtained from the 17g-5 Information Provider’s Website.

 

    Exhibit L-1

     

    

 

The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website and the 17g 5 Information Provider’s Website.

 

Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

    Exhibit L-2

     

    

 

BY
ITS CERTIFICATION HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have
caused its name to be signed hereto by its duly authorized signatory, as of the date certified. 

 

	 	[	 
	 	Nationally Recognized Statistical
    Rating Organization	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	Title:	 	 
	 	 	 	 
	 	Company:	 	 
	 	 	 	 
	 	Phone:		]*
	Email:	 	 	 

 

 

*
Not applicable to certifications provided by means of a “click-through” confirmation.

  

    Exhibit L-3

     

    

 

ANNEX
A

 

CONFIDENTIALITY
AGREEMENT

 

This
Confidentiality Agreement (the “Confidentiality Agreement”) is made in connection with Natixis Commercial Mortgage
Securities LLC (together with its affiliates, the “Furnishing Entities” and each a “Furnishing Entity”)
furnishing certain financial, operational, structural and other information relating to the issuance of the Natixis Commercial
Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA (the “Certificates”)
pursuant to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Indenture”), between, as Depositor
(the “Depositor”), KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, and
Wells Fargo Bank, National Association, as certificate administrator and trustee and the assets underlying or referenced by the
Certificates, including the identity of, and financial information with respect to borrowers, sponsors, guarantors, managers and
lessees with respect to such assets (together, the “Collateral”) to you (the “NRSRO”) through
the website of Wells Fargo Bank, National Association, as 17g-5 Information Provider under the Trust and Servicing Agreement,
including the section of the 17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the
Closing Date (as defined in the Trust and Servicing Agreement). Information provided by each Furnishing Entity is labeled as provided
by the specific Furnishing Entity.

 

Definition
of Confidential Information. For purposes of this Confidentiality Agreement, the term “Confidential Information”
shall include the following information (irrespective of its source or form of communication, including information obtained by
you through access to this site) that may be furnished to you by or on behalf of a Furnishing Entity in connection with the issuance
or monitoring of a rating with respect to the Certificates: (x) all data, reports, interpretations, forecasts, records, agreements,
legal documents and other information (such information, the “Evaluation Material”) and (y) any of the terms,
conditions or other facts with respect to the transactions contemplated by the Trust and Servicing Agreement, including the status
thereof; provided, however, that the term Confidential Information shall not include information which:

 

was
or becomes generally available to the public (including through filing with the Securities and Exchange Commission or disclosure
in an offering document) other than as a result of a disclosure by you or a NRSRO Representative (as defined in Section 2(c)(i)
below) in violation of this Confidentiality Agreement;

 

was
or is lawfully obtained by you from a source other than a Furnishing Entity or its representatives that (i) is reasonably believed
by you to be under no obligation to maintain the information as confidential and (ii) provides it to you without any obligation
to maintain the information as confidential; or

 

is
independently developed by the NRSRO without reference to any Confidential Information.

 

Information
to Be Held in Confidence.

 

You
will use the Confidential Information solely for the purpose of determining or monitoring a credit rating on the Certificates
and, to the extent that any information used is derived from but does not reveal any Confidential Information, for benchmarking,
modeling or research purposes (the “Intended Purpose”).

 

You
acknowledge that you are aware that the United States and state securities laws impose restrictions on trading in securities when
in possession of material, non-public information and that the NRSRO will advise (through policy manuals or otherwise) each NRSRO
Representative who is informed of the matters that are the subject of this Confidentiality Agreement to that effect.

 

You
will treat the Confidential Information as private and confidential. Subject to Section 4, without the prior written consent of
the applicable Furnishing Entity, you will not disclose to any person any Confidential Information, whether such Confidential
Information was furnished to you before, on or after the date of this Confidentiality Agreement. Notwithstanding the foregoing,
you may:

 

    Exhibit L-1

     

    

 

-
disclose the Confidential Information to any of the NRSRO’s affiliates, directors, officers, employees, legal representatives,
agents and advisors (each, a “NRSRO Representative”) who, in the reasonable judgment of the NRSRO, need to
know such Confidential Information in connection with the Intended Purpose; provided, that, prior to disclosure of the
Confidential Information to a NRSRO Representative, the NRSRO shall have taken reasonable precautions to ensure, and shall be
satisfied, that such NRSRO Representative will act in accordance with this Confidentiality Agreement;

 

-
solely to the extent required for compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),post the Confidential Information
to the NRSRO’s password protected website; and

 

-
use information derived from the Confidential Information in connection with an Intended Purpose, if such derived information
does not reveal any Confidential Information.

 

Disclosures
Required by Law. If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory, subpoena,
civil investigatory demand, request for information or documents, deposition or similar process relating to any legal proceeding,
investigation, hearing or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing Entity
with notice as soon as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation,
and otherwise to the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request
to disclose the Confidential Information has been made so that the relevant Furnishing Entity may seek an appropriate protective
order or other reasonable assurance that confidential treatment will be accorded the Confidential Information if it so chooses.
Unless otherwise required by a court or other governmental or regulatory authority to do so, and provided that you been informed
by written notice that the related Furnishing Entity is seeking a protective order or other reasonable assurance for confidential
treatment with respect to the requested Confidential Information, you agree not to disclose the Confidential Information while
the Furnishing Entity’s effort to obtain such a protective order or other reasonable assurance for confidential treatment
is pending. You agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order or other
reasonable assurance that confidential treatment will be accorded to the portion of the Confidential Information that is being
disclosed, at the sole expense of such Furnishing Entity; provided, however, that in no event shall the NRSRO be
required to take a position that such information should be entitled to receive such a protective order or reasonable assurance
as to confidential treatment. If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree to comply
with its terms with respect to the disclosure of the Confidential Information, at the sole expense of such Furnishing Entity.
If a protective order or other remedy is not obtained or if the relevant Furnishing Entity waives compliance with the provisions
of this Confidentiality Agreement in writing, you agree to furnish only such information as you are legally required to disclose,
at the sole expense of the relevant Furnishing Entity.

 

Obligation
to Return Evaluation Material. Promptly upon written request by or on behalf of the relevant Furnishing Entity, all material
or documents, including copies thereof, that contain Evaluation Material will be destroyed or, in your sole discretion, returned
to the relevant Furnishing Entity. Notwithstanding the foregoing, (a) the NRSRO may retain one or more copies of any document
or other material containing Evaluation Material to the extent necessary for legal or regulatory compliance (or compliance with
the NRSRO’s internal policies and procedures designed to ensure legal or regulatory compliance) and (b) the NRSRO may retain
any portion of the Evaluation Material that may be found in backup tapes or other archive or electronic media or other documents
prepared by the NRSRO and any Evaluation Material obtained in an oral communication; provided, that any Evaluation Material
so retained by the NRSRO will remain subject to this Confidentiality Agreement and the NRSRO will remain bound by the terms of
this Confidentiality Agreement.

 

    Exhibit L-2

     

    

 

Violations
of this Confidentiality Agreement.

 

The
NRSRO will be responsible for any breach of this Confidentiality Agreement by you, the NRSRO or any NRSRO Representative.

 

You
agree promptly to advise each relevant Furnishing Entity in writing of any misappropriation or unauthorized disclosure or use
by any person of the Confidential Information which may come to your attention and to take all steps reasonably requested by such
Furnishing Entity to limit, stop or otherwise remedy such misappropriation, or unauthorized disclosure or use.

 

You
acknowledge and agree that the Furnishing Entities would not have an adequate remedy at law and would be irreparably harmed in
the event that any of the provisions of this Confidentiality Agreement were not performed in accordance with their specific terms
or were otherwise breached. It is accordingly agreed that each Furnishing Entity shall be entitled to specific performance and
injunctive relief to prevent breaches of this Confidentiality Agreement and to specifically enforce the terms and provisions hereof,
in addition to any other remedy to which a Furnishing Entity may be entitled at law or in equity. It is further understood and
agreed that no failure to or delay in exercising any right, power or privilege hereunder shall preclude any other or further exercise
of any right, power or privilege.

 

Term.
Notwithstanding the termination or cancellation of this Confidentiality Agreement and regardless of whether the NRSRO has provided
a credit rating on a Security, your obligations under this Confidentiality Agreement will survive indefinitely.

 

Governing
Law. This Confidentiality Agreement and any claim, controversy or dispute arising under the Confidentiality Agreement, the
relationships of the parties and/or the interpretation and enforcement of the rights and duties of the parties shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed within
such State.

 

Amendments.
This Confidentiality Agreement may be modified or waived only by a separate writing by the NRSRO and each Furnishing Entity.

 

Entire
Agreement. This Confidentiality Agreement represents the entire agreement between you and the Furnishing Entities relating
to the treatment of Confidential Information heretofore or hereafter reviewed or inspected by you. This agreement supersedes all
other understandings and agreements between us relating to such matters; provided, however, that, if the terms of
this Confidentiality Agreement conflict with another agreement relating to the Confidential Information that specifically states
that the terms of such agreement shall supersede, modify or amend the terms of this Confidentiality Agreement, then to the extent
the terms of this Confidentiality Agreement conflict with such agreement, the terms of such agreement shall control notwithstanding
acceptance by you of the terms hereof by entry into this website.

 

Contact
Information. Notices for each Furnishing Entity under this Confidentiality Agreement, shall be directed as set forth below:

 

Natixis
Commercial Mortgage Securities LLC

1251 Avenue of the Americas

New York, New York 10020

 

    Exhibit L-3

     

    

 

EXHIBIT
M-1

 

FORM
OF TRANSFEREE AFFIDAVIT

 

AFFIDAVIT
PURSUANT TO

SECTION 860E(e)(4) OF THE

INTERNAL REVENUE CODE OF

1986, AS AMENDED

 

	STATE OF NEW YORK	 )	 
	 	 )	ss:
	COUNTY OF NEW YORK	 )	 

 

_________________,
being first duly sworn, deposes and says:

 

1.       That
he/she is a _________________ of _________________ (the “Purchaser”), a _________________ duly organized and existing
under the laws of the State of _________________ on behalf of which he/she makes this affidavit.

 

2.       That
the Purchaser’s Taxpayer Identification Number is .

 

3.       That
the Purchaser is acquiring a Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificate,
Series 2019-NEMA, Class R (the “Residual Certificate”) and, further, that the Purchaser is a Permitted Transferee
(as defined in Article I of the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”),
entered into by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer,
Situs Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and
Custodian, or is acquiring the Residual Certificate for the account of, or as agent (including as a broker, nominee, or other
middleman) for, a Permitted Transferee and has received from such person or entity an affidavit substantially in the form of this
affidavit.

 

4.       That
the Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future
and the Purchaser intends to pay taxes associated with holding the Residual Certificate as they become due.

 

5.       That
the Purchaser understands that it may incur tax liabilities with respect to the Residual Certificate in excess of any cash flow
generated by the Residual Certificate.

 

6.       That
the Purchaser will not transfer the Residual Certificate to any person or entity from which the Purchaser has not received an
affidavit substantially in the form of this affidavit or as to which the Purchaser has actual knowledge that the requirements
set forth in paragraph 3, paragraph 4 or paragraph 7 hereof are not satisfied or that the Purchaser has reason to know does not
satisfy the requirements set forth in paragraph 4 hereof.

 

7.       That
the Purchaser is not a Disqualified Non-U.S. Person and is not purchasing the Residual Certificate for the account of, or as an
agent (including as a broker, 

 

    Exhibit M-1-1

     

    

 

nominee
or other middleman) for, a Disqualified Non-U.S. Person and is otherwise a Permitted Transferee.

 

8.       That
the Purchaser agrees to such amendments of the Trust and Servicing Agreement as may be required to further effectuate the restrictions
on transfer of the Residual Certificate to a “disqualified organization,” an agent thereof, or a person that does
not satisfy the requirements of paragraph 4, paragraph 7 and paragraph 11 hereof.

 

9.       That,
by acceptance of the Class R Certificates, agrees to the irrevocable appointment of the Certificate Administrator as the “partnership
representative” for the Upper-Tier REMIC and the Lower-Tier REMIC.

 

10.     The
Purchaser agrees to be bound by and to abide by the provisions of Section 5.3 of the Trust and Servicing Agreement concerning
registration of the transfer and exchange of the Residual Certificate.

 

11.     The
Purchaser will not cause income from the Residual Certificate to be attributable to a foreign permanent establishment or fixed
base, within the meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Person.

 

12.      Check
the applicable paragraph:

 

☐       The
present value of the anticipated tax liabilities associated with holding the Residual Certificate, as applicable, does not exceed
the sum of:

 

(i)       the
present value of any consideration given to the Purchaser to acquire such Residual Certificate;

 

(ii)      the
present value of the expected future distributions on such Certificate; and

 

(iii)     the
present value of the anticipated tax savings associated with holding such Residual Certificate as the related REMIC generates
losses.

 

For
purposes of this calculation, (i) the Purchaser is assumed to pay tax at the highest rate currently specified in Code Section
11(b) (but the tax rate in Code Section 55(b)(1)(B) may be used in lieu of the highest rate specified in Code Section 11(b) if
the Purchaser has been subject to the alternative minimum tax under Code Section 55 in the preceding two years and will compute
its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present values are computed using
a discount rate equal to the short term Federal rate prescribed by Code Section 1274(d) for the month of the transfer and the
compounding period used by the Purchaser.

 

☐       The
transfer of the Residual Certificate complies with U.S. Treasury Regulations Section 1.860E-1(c)(5) and (6) and, accordingly,

 

    Exhibit M-1-2

     

    

 

(i)      the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
income from the Residual Certificate will only be taxed in the United States;

 

(ii)     at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

(iii)    the
Purchaser will transfer the Residual Certificate only to another “eligible corporation,” as defined in U.S. Treasury
Regulations Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Section 1.860E-1(c)(4)(i), (ii) and
(iii) and Section 1.860E-1(c)(5) of the U.S. Treasury Regulations; and

 

(iv)    the
Purchaser determined the consideration paid to it to acquire the Residual Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐       None
of the above.

 

Capitalized
terms used but not defined herein have the respective meanings ascribed to such terms in the Trust and Servicing Agreement.

 

IN
WITNESS WHEREOF, the Purchaser has caused this instrument to be executed on its behalf by its_______________ this ____ day of
______ , 20___ .

 

	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Personally
appeared before me the above named , known or proved to me to be the same person who executed the foregoing instrument and to
be the of the Purchaser, and acknowledged to me that he/she executed the same as his/her free act and deed and the free act and
deed of the Purchaser.

 

Subscribed
and sworn before me this ___ day of _______, 20___.

 

	 	 
	NOTARY PUBLIC	 

 

    Exhibit M-1-3

     

    

 

	COUNTY OF 	 	 
	 	 	 
	STATE OF	 	 

 

My
commission expires the ____ day of ________ , 20___.

 

    Exhibit M-1-4

     

    

 

EXHIBIT
M-2

 

FORM
OF TRANSFEROR LETTER

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

600
South 4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class R 

 

Ladies
and Gentlemen:

 

[Transferor]
has reviewed the attached affidavit of [Transferee], and has no actual knowledge that such affidavit is not true or that [Transferee]
is not a Permitted Transferee (as defined in the Trust and Servicing Agreement defined in the attached affidavit) and has no actual
knowledge or reason to know that the information contained in the attached affidavit is not true. No purpose of [Transferor] relating
to the transfer of the Class R Certificate by [Transferor] to [Transferee] is or will be to impede the assessment of any tax. 

 

	 	Very truly yours,
	 	 
	 	[Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit M-2-1

     

    

 

EXHIBIT
M-3

 

FORM
OF ERISA REPRESENTATION LETTER

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

600
South 4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

Natixis
Commercial Mortgage Securities LLC

1251
Avenue of the Americas 

New
York, New York 10020

Attention:
Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates,
                                         Series 2019-NEMA, Class R

 

Ladies
and Gentlemen:

 

The
undersigned (the “Purchaser”) proposes to purchase [__]% Percentage Interest in the Commercial Mortgage Pass-Through
Certificates, 2019-NEMA, R, CUSIP No. _____ (the “Certificates”), issued pursuant to the Trust and Servicing
Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”), by and among Natixis Commercial
Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, and
Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian. All capitalized terms used herein
and not otherwise defined shall have the meaning set forth in the Trust and Servicing Agreement. The Purchaser hereby certifies,
represents and warrants to, and covenants with, the Depositor and the Certificate Administrator that:

 

In
connection with such transfer, the undersigned hereby represents and warrants to you that, with respect to the Certificate, the
Purchaser is not and will not become an employee benefit plan or other plan subject to the fiduciary responsibility provisions
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal
Revenue Code of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA)
or other plan that is subject to any federal, state or local law that is, to a material extent, similar to the foregoing provisions
of ERISA or the Code (“Similar Law”) (each, a “Plan”), or any person acting on behalf of
any such plan or using the assets of a Plan to purchase such Certificate.

  

    Exhibit M-3-1

     

    

 

IN
WITNESS WHEREOF, the Purchaser hereby executes this ERISA Representation Letter on this ____ day of ___, 20__.

 

	 	Very truly yours,
	 	 
	 	[Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit M-3-2

     

    

 

EXHIBIT
M-4

 

Form
of Transferee CERTIFICATE FOR TRANSFERS 

OF RR Interest

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

600
South 4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

Natixis
Real Estate Capital LLC

1251
Avenue of the Americas

New
York, New York 10020

 

Natixis
Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates, Series 2019-NEMA (the “Certificates”)
issued pursuant to the Trust and Servicing Agreement (the “Trust and Servicing Agreement”), dated as of March
29, 2019, by and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs
Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and as Trustee

 

[_____]
(the “Purchaser”) hereby certifies, represents and warrants to you, as Certificate Registrar and as “retaining
sponsor” as such term is defined in Regulation RR, that:

 

		1.	The
                                         Purchaser is acquiring $[_____] Certificate Balance of the Class [__] Certificates evidencing
                                         the RR Interest from [_____] (the “Transferor”).

 

		2.	The
                                         Purchaser is aware that the Certificate Registrar will not register any transfer of a
                                         Certificate evidencing the RR Interest by the Transferor unless the Purchaser, or such
                                         Purchaser’s agent, delivers to the Certificate Registrar, among other things, a
                                         certificate in substantially the same form as this certificate. The Purchaser expressly
                                         agrees that it will not consummate any such transfer if it knows or believes that any
                                         representation contained in such certificate is false.

 

		3.	If
                                         the Purchaser is a Plan subject to ERISA or Section 4975 of the Code relying on PTE 89-90,
                                         (a) all of the conditions of Prohibited Transaction Exemption 89-90 will be satisfied
                                         with respect to the acquisition of the Certificate evidencing the RR Interest and (b)
                                         the acquisition of such Certificate evidencing the RR Interest will be effected through
                                         Natixis Securities Americas LLC, Credit Suisse Securities (USA) LLC or an affiliate thereof.

 

    Exhibit M-4-1

     

    

 

		4.	Check
                                         one of the following:

 

☐       The
Purchaser certifies, represents and warrants to you, as Certificate Registrar, that the transfer will occur during the RR Interest
Transfer Restriction Period and that:

 

		A.	The
                                         Purchaser is a “majority-owned affiliate”, as such term is defined in Regulation
                                         RR, of the Transferor (a “Majority-Owned Affiliate”).

 

		B.	The
                                         Purchaser is not acquiring the Certificate evidencing the RR Interest as a nominee, trustee
                                         or agent for any person that is not a Majority-Owned Affiliate, and that for so long
                                         as it retains its interest in the RR Interest, it will remain a Majority-Owned Affiliate.

 

		C.	The
                                         Purchaser will be bound by the Credit Risk Retention Agreement, by and between Natixis
                                         Real Estate Capital LLC and Natixis Commercial Mortgage Securities LLC, dated and effective
                                         as of March 22, 2019 (the “Credit Risk Retention Agreement”) as if
                                         it were party to such agreement.

 

		D.	The
                                         Purchaser hereby makes each representation set forth in Section 4 of the Credit Risk
                                         Retention Agreement.

 

		E.	The
                                         Purchaser consents to any additional restrictions or arrangements that shall be deemed
                                         necessary upon advice of counsel to constitute a reasonable arrangement to ensure that
                                         its ownership of the RR Interest will satisfy the risk retention requirements of the
                                         Transferor, in its capacity as [sponsor][originator] under Regulation RR.

 

☐       The
Purchaser certifies, represents and warrants to you, as Certificate Registrar, that the transfer will occur after the termination
of the RR Interest Transfer Restriction Period.

 

Capitalized
terms used but not defined herein have the meanings assigned thereto in the Trust and Servicing Agreement.

 

IN
WITNESS WHEREOF, the Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized senior officer
this [__] day of [____], 20[__].

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit M-4-2

     

    

 

The
foregoing certificate is hereby confirmed, and the transfer is accepted, as of the date first above written:

 

Natixis
Real Estate Capital LLC

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

[Medallion
Stamp Guarantee]

 

    Exhibit M-4-3

     

    

 

EXHIBIT
M-5

 

FORM
OF TRANSFEROR CERTIFICATE FOR TRANSFERS 

OF RR INTEREST

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

600
South 4th Street, 7th Floor MAC N9300-070

Minneapolis,
Minnesota 55479

Attention:
Certificate Transfer Services – NCMS 2019-NEMA

 

Natixis
Real Estate Capital LLC

1251
Avenue of the Americas

New
York, New York 10020

 

Natixis
Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA (the “Certificates”) 

 

Ladies
and Gentlemen:

 

This
is delivered to you in connection with the transfer by [______] (the “Transferor”) to [______] (the “Transferee”)
of $[_____] Certificate Balance of the Class [__] Certificates evidencing the RR Interest. The Certificates were issued pursuant
to the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing Agreement”), by
and among Natixis Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Trust and Servicing Agreement.
The Transferor hereby certifies, represents and warrants to you that:

 

		1.	The
                                         transfer is in compliance with Sections 5.1, 5.2 and 5.3 of the Trust and Servicing Agreement.

 

		2.	If
                                         the Transferee is a Plan subject to ERISA or Section 4975 of the Code relying on PTE
                                         89-90, (a) all of the conditions of Prohibited Transaction Exemption 89-90 will be satisfied
                                         with respect to the acquisition of the Certificate evidencing the RR Interest and (b)
                                         the acquisition of such Certificate evidencing the RR Interest will be effected through
                                         Natixis Securities Americas LLC, Credit Suisse Securities (USA) LLC or an affiliate thereof.

 

		3.	Check
                                         one of the following:

 

		☐	The
                                         Transferor certifies, represents and warrants to you that the transfer will occur during
                                         the RR Interest Transfer Restriction Period and that:

 

    Exhibit M-5-1

     

    

 

		A.	The
                                         transfer is in compliance with the Credit Risk Retention Agreement, between Natixis Real
                                         Estate Capital LLC and Natixis Commercial Mortgage Securities LLC, dated and effective
                                         as of March [__], 2019 (the “Credit Risk Retention Agreement”).

 

		B.	The
                                         Transferee is a “majority-owned affiliate”, as such term is defined in Regulation
                                         RR, of the Transferor.

 

		C.	All
                                         of the representations and warranties made by the Transferor in the Credit Risk Retention
                                         Agreements are true and correct as of the date of the transfer.

 

		☐	The
                                         Transferor certifies, represents and warrants to you that the transfer will occur after
                                         the termination of the RR Interest Transfer Restriction Period.

 

		4.	The
                                         Transferor understands that the Transferee has delivered to you a Transferee Certificate
                                         in the form attached to the Trust and Servicing Agreement as Exhibit D-3. The
                                         Transferor does not know or believe that any representation contained therein is false.

 

IN
WITNESS WHEREOF, the Transferor has caused this instrument to be duly executed on its behalf by its duly authorized senior officer
this [__] day of [____], 20[__]. 

 

	 	[TRANSFEROR]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

The
foregoing certificate is hereby confirmed, and the transfer is accepted, as of the date first above written: 

 

	Natixis Real Estate Capital LLC	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    Exhibit M-5-2

     

    

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

[Medallion
Stamp Guarantee]

 

    Exhibit M-5-3

     

    

 

EXHIBIT
M-6

 

FORM
OF TRANSFEROR CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

Natixis Commercial Mortgage Securities LLC

1251
Avenue of the Americas

New
York, New York 10020

Attention: Margaret Lam

 

		Re:	Natixis
Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA

 

Ladies
and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by _________________ (the “Transferor”) to _________________
(the “Transferee”) of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated
as of March 29, 2019 (the “Trust and Servicing Agreement”) and executed in connection with the NCMS 2019-NEMA
securitization transaction. All capitalized terms used but not otherwise defined herein shall have the respective meanings set
forth in the Trust and Servicing Agreement. The Transferee hereby certifies, represents and warrants to you, as Depositor, that:

 

1.       The
Transferor is the lawful owner of the right to receive the Excess Servicing Fees with respect to the Whole Loan for which _________________
is the Servicer (the “Excess Servicing Fee Right”), with the full right to transfer the Excess Servicing Fee
Right free from any and all claims and encumbrances whatsoever.

 

2.       Neither
the Transferor nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of the Excess
Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner,
(b) solicited any offer to buy or accept a transfer, pledge or other disposition of the Excess Servicing Fee Right, any interest
in the Excess Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated
with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with
any person in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the
Excess Servicing Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken
any other action, which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution
of the Excess Servicing Fee Right under the Securities Act of 1933, as amended (the “Securities Act”), or would
render the disposition of the Excess Servicing Fee Right a violation of Section 5 of the Securities Act or any state securities
laws, or would require registration or qualification of the Excess Servicing Fee Right pursuant to the Securities Act or any state
securities laws.

 

    Exhibit M-6-1

     

    

 

	 	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

    Exhibit M-6-2

     

    

 

EXHIBIT
M-7

 

FORM
OF TRANSFEREE CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

 

Natixis
Commercial Mortgage Securities LLC

1251
Avenue of the Americas

New
York, New York 10020

Attention:
Margaret Lam

 

KeyBank
National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael Tilden

 

		Re:	Natixis
Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA

 

Ladies
and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by _________________ (the “Transferor”) to _________________
(the “Transferee”) of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated
as of March 29, 2019 (the “Trust and Servicing Agreement”) and executed in connection with the NCMS 2019-NEMA
securitization transaction. All capitalized terms used but not otherwise defined herein shall have the respective meanings set
forth in the Trust and Servicing Agreement. The Transferee hereby certifies, represents and warrants to you, as the Depositor
and the Servicer, that:

 

1.        The
Transferee is acquiring the right to receive Excess Servicing Fees with respect to the Whole Loan as to which __________________
is the applicable Servicer (the “Excess Servicing Fee Right”) for its own account for investment and not with
a view to or for sale or transfer in connection with any distribution thereof, in whole or in part, in any manner which would
violate the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws.

 

2.        The
Transferee understands that (a) the Excess Servicing Fee Right has not been and will not be registered under the Securities Act
or registered or qualified under any applicable state securities laws, (b) none of the Depositor, the Trustee, Certificate Administrator
or the Certificate Registrar is obligated so to register or qualify the Excess Servicing Fee Right, and (c) the Excess Servicing
Fee Right may not be resold or transferred unless it is (i) registered pursuant to the Securities Act and registered or qualified
pursuant to any applicable state securities laws or (ii) sold or transferred in transactions which are exempt from such registration
and qualification and (A) the Depositor has received a certificate from the prospective transferor substantially in the form attached
as Exhibit P-1 to the Trust and Servicing Agreement, and (B)

 

    Exhibit M-7-1

     

    

 

each
of the Servicer and the Depositor have received a certificate from the prospective transferee substantially in the form attached
as Exhibit P-2 to the Trust and Servicing Agreement.

 

3.        The
Transferee understands that it may not sell or otherwise transfer the Excess Servicing Fee Right or any interest therein except
in compliance with the provisions of Section 3.17 of the Trust and Servicing Agreement, which provisions it has carefully reviewed.

 

4.        Neither
the Transferee nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred the Excess
Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner,
(b) solicited any offer to buy or accept a pledge, disposition or other transfer of the Excess Servicing Fee Right, any interest
in the Excess Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated
with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with
any person in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the
Excess Servicing Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken
any other action with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar
security, which (including in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution
of the Excess Servicing Fee Right under the Securities Act, would render the disposition of the Excess Servicing Fee Right a violation
of Section 5 of the Securities Act or any state securities law or would require registration or qualification of the Excess Servicing
Fee Right pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any
manner set forth in the foregoing sentence with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security.

 

5.        The
Transferee has been furnished with all information regarding (a) the Depositor, (b) the Excess Servicing Fee Right and any payments
thereon, (c) the Trust and Servicing Agreement and the Trust Fund created pursuant thereto, (d) the nature, performance and servicing
of the Whole Loan, and (e) all related matters that it has requested.

 

6.        The
Transferee is (a) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act or (b)
an “accredited investor” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities
Act or an entity in which all of the equity owners are “accredited investors” as defined in any of paragraphs (1),
(2), (3) and (7) of Rule 501(a) under the Securities Act. The Transferee has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Excess Servicing Fee Right; the Transferee
has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision; and the
Transferee is able to bear the economic risks of such investment and can afford a complete loss of such investment.

 

7.        The
Transferee agrees (i) to keep all information relating to the Trust, the Trust Fund and the parties to the Trust and Servicing
Agreement, and made available to it, confidential, (ii) not to use or disclose such information in any manner which could result
in a violation of any provision of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificate
pursuant to the Securities Act, and (iii) not to disclose 

 

    Exhibit M-7-2

     

    

 

such information, and to cause its officers, directors, partners, employees, agents or representatives not to disclose such
information, in any manner whatsoever, in whole or in part, to any other Person other than such holder’s auditors,
legal counsel and regulators, except to the extent such disclosure is required by law, court order or other legal requirement
or to the extent such information is of public knowledge at the time of disclosure by such holder or has become generally
available to the public other than as a result of disclosure by such holder; provided, however, that such holder may provide
all or any part of such information to any other Person who is contemplating an acquisition of the Excess Servicing Fee Right
if, and only if, such Person (x) confirms in writing such prospective acquisition and (y) agrees in writing to keep such
information confidential, not to use or disclose such information in any manner which could result in a violation of any
provision of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificates
pursuant to the Securities Act and not to disclose such information, and to cause its officers, directors, partners,
employees, agents or representatives not to disclose such information, in any manner whatsoever, in whole or in part, to any
other Person other than such Persons’ auditors, legal counsel and regulators.

 

8.        The
Transferee acknowledges that the holder of the Excess Servicing Fee Right shall not have any rights under the Trust and Servicing
Agreement except as set forth in Section 3.12(a) of the Trust and Servicing Agreement, and that the Excess Servicing Fee Rate
may be reduced to the extent provided in the Trust and Servicing Agreement.

 

	 	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit M-7-3

     

    

 

EXHIBIT
N

 

CUSTODIAL CERTIFICATE

 

[_____],
20[_]

 

Natixis
Commercial Mortgage Securities LLC

1251
Avenue of the Americas

New
York, New York 10020

Attention:
Margaret Lam

 

[KeyBank
National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael Tilden]

 

[Situs
Holdings, LLC

101
Montgomery Street, Suite 2250

San
Francisco, California 94104

Attention:
Stacey Ciarlanti]

 

[Wells
Fargo Bank, National Association
 Corporate
Trust Services
 9062
Old Annapolis Road
 Columbia,
Maryland 21045-1951
 Attention:
CMBS – Corporate Trust Services—NCMS 2019-NEMA]

 

Attention:
NCMS 2019-NEMA

 

Re: This
Trust and Servicing Agreement (“Agreement”) is dated as of March 29, 2019, among Natixis Commercial Mortgage
Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, as Servicer
and Special Servicer, and Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian.

 

Ladies
and Gentlemen:

 

In
accordance with the provisions of Section 2.2 (b) of the Trust and Servicing Agreement, dated as of March 29,
2019, please find the required 60 day review exception report. The undersigned hereby certifies that, subject to any
exceptions found by it in such review, that (A) all documents referred to in Section 2.1(b) have been received, and
(B) all documents have been executed, appear to be what they purport to be, purport to be recorded or filed (as applicable)
and have not been torn, mutilated or otherwise defaced, and appear on their faces to relate to the Whole Loan.

 

    Exhibit N-1

     

    

 

The
undersigned shall have no responsibility for reviewing the Mortgage File except as expressly set forth in Section 2.2(b)
and shall be under no duty or obligation to inspect, review, or examine any such documents, instruments or certificates to independently
determine that they are valid, genuine, enforceable, legally sufficient, duly authorized, or appropriate for the represented purpose,
whether the text of any assignment or endorsement is in proper or recordable form (except to determine if the endorsement conforms
to the requirements of Section 2.1(b)), whether any document has been recorded in accordance with the requirements of any
applicable jurisdiction, to independently determine that any document has actually been filed or recorded in the appropriate office,
that any document is other than what it purports to be on its face, or whether the title insurance policies relate to the Properties.

 

The
undersigned makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any such
documents contained in Mortgage File or the Whole Loan, or (ii) the collectability, insurability, effectiveness or suitability
of such Whole Loan.

 

Capitalized
words and phrases used herein and not otherwise defined herein shall have the respective meanings assigned to them in the Trust
and Servicing Agreement. This Certificate is subject in all respects to the terms of the Trust and Servicing Agreement.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit N-2

     

    

 

SCHEDULE
OF EXCEPTIONS

 

(See
Attached Report)

 

    Exhibit N-3

     

    

 

EXHIBIT
O

 

FORM
OF FINAL CUSTODIAL CERTIFICATE

 

[_____],
20[_]

 

Natixis Commercial Mortgage Securities LLC

1251
Avenue of the Americas

New
York, New York 10020

Attention:
Margaret Lam

 

[KeyBank
National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael Tilden]

 

[Situs
Holdings, LLC

101
Montgomery Street, Suite 2250

San
Francisco, California 94104

Attention:
Stacey Ciarlanti]

 

[Wells
Fargo Bank, National Association
 Corporate
Trust Services
 9062
Old Annapolis Road
 Columbia,
Maryland 21045-1951
 Attention:
CMBS – Corporate Trust Services—NCMS 2019-NEMA]

 

Attention:
Natixis Commercial Mortgage Securities Trust 2019-NEMA

 

Re: This
Trust and Servicing Agreement (“Agreement”) is dated as of March 29, 2019, among Natixis Commercial Mortgage
Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, and Wells Fargo
Bank, National Association, as Trustee, Certificate Administrator and Custodian.

 

Ladies
and Gentlemen:

 

In
accordance with the provisions of Section 2.2 (c) of the Trust and Servicing Agreement, dated as of March 29,
2019, please find the required final exception report as to any remaining documents that are not in the Mortgage
File.

 

The
undersigned makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any such
documents contained in Mortgage File or the Whole Loan, or (ii) the collectability, insurability, effectiveness or suitability
of such Whole Loan.

 

    Exhibit O-1

     

    

 

Capitalized
words and phrases used herein and not otherwise defined herein shall have the respective meanings assigned to them in the Trust
and Servicing Agreement. This Certificate is subject in all respects to the terms of the Trust and Servicing Agreement.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit O-2

     

    

 

SCHEDULE
OF EXCEPTIONS

 

(See
Attached Report)

 

    Exhibit O-3

     

    

 

EXHIBIT
P

 

[Reserved]

 

    Exhibit P-1

     

    

 

EXHIBIT
Q

 

FORM
OF POWER OF ATTORNEY BY TRUSTEE

FOR [SERVICER] [SPECIAL SERVICER]

 

RECORDING
REQUESTED BY:

 

[__]

 

 

 SPACE
ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED
POWER OF ATTORNEY

 

Wells
Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States and
having an office at 9062 Old Annapolis Road, Columbia, Maryland 20145, not in its individual capacity but solely as Trustee (in
such capacity, the “Trustee”), hereby constitutes and appoints KeyBank National Association (the “Servicer”)
and appoints Situs Holdings, LLC (the “Special Servicer”), and in its name, aforesaid Attorney-In-Fact, by
and through any authorized representative appointed by the Board of Directors of [_________], to execute and acknowledge in writing
or by facsimile stamp all documents customarily and reasonably necessary and appropriate for the tasks described in the items
(1) through (12) below; provided however, that the documents described below may only be executed and delivered by such Attorneys-In-Fact
if such documents are required or permitted under the terms of the Trust and Servicing Agreement, dated as of [____] (the “Agreement”)
by and among [____________] in connection with the [_____________] and no power is granted hereunder to take any action that would
be adverse to the interests of Wells Fargo Bank, National Association.

 

This
Limited Power of Attorney is being issued in connection with the [Servicer’s] [Special Servicer’s] responsibilities
to service that certain 10 year fixed-rate loan, which is evidenced by two promissory notes identified as “Note A-1”
and “Note A-B” in the
aggregate principal amount of $199,000,000 (the “Loans”) held by Wells Fargo Bank, National Association, as
Trustee. The Loans are comprised of mortgages or deeds of trust (the “Mortgages” and “Deeds of Trust”
respectively), and other forms of security instruments (collectively, the “Security Instruments”) and the Mortgage
Notes secured thereby. Capitalized terms used but not defined herein shall have the respective meanings assigned thereto in the
Agreement.

 

1.
       Demand, sue for, recover, collect and receive each and every sum of money, debt, account
and interest (which now is, or hereafter shall become due and payable) belonging to or claimed by Wells Fargo Bank, National Association,
as Trustee, and to use or take any lawful means for recovery by legal process or otherwise, including but not limited to the substitution
of trustee serving under a Deed of Trust, the preparation and issuance of statements of breach, notices of default, and/or notices
of sale, accepting deeds in lieu of foreclosure, evicting (to the extent allowed by federal, state or local laws) and foreclosing
on the properties

 

    Exhibit Q-1

     

    

 

under the Security Instruments by judicial or non-judicial foreclosure, actions for temporary restraining orders,
injunctions, appointments of receiver, suits for waste, fraud and any and all other tort, contractual or other claims of whatever
nature, including execution of any evidentiary affidavits or verifications in support thereof, as may be necessary or advisable
in any bankruptcy action, state or federal suit or any other action.

 

2.
       Execute and/or file such documents and take such other action as is proper and necessary
to defend Wells Fargo Bank, National Association, as Trustee, in litigation and to resolve any litigation where the [Servicer]
[Special Servicer] has an obligation to defend Wells Fargo Bank, National Association, as Trustee, including but not limited to
dismissal, termination, cancellation, rescission and settlement.

 

3.
       Transact business of any kind regarding the Loans and the Properties.

 

4.
       Obtain an interest in the Loans, Properties and/or building thereon, as Wells Fargo
Bank, National Association, Trustee’s act and deed, to contract for, purchase, receive and take possession and evidence
of title in and to the property and/or to secure payment of a promissory note or performance of any obligation or agreement.

 

5.
       Execute, complete, indorse or file bonds, notes, Mortgages, Deeds of Trust and other
contracts, agreements and instruments regarding the Borrowers, the Loans and/or the Properties, including but not limited to the
execution of estoppel certificates, financing statements, continuation statements, releases, satisfactions, assignments, loan
modification agreements, payment plans, waivers, consents, amendments, forbearance agreements, loan assumption agreements, subordination
agreements, property adjustment agreements, non-disturbance and attornment agreements, leasing agreements, management agreements,
listing agreements, purchase and sale agreements, and other instruments pertaining to Mortgages or Deeds of Trust, and execution
of deeds and associated instruments, if any, conveying the Properties, in the interest of Wells Fargo Bank, National Association,
as Trustee.

 

6.
       Endorse on behalf of the undersigned all checks, drafts and/or other negotiable instruments
made payable to the undersigned and draw upon, replace, substitute, release or amend letters of credit as property securing the
Loans.

 

7.        [RESERVED].

 

8.        Such
other actions and file such other instruments and certifications as are reasonably necessary to complete or accomplish the [Servicer’s]
[Special Servicer’s] duties and responsibilities under the Agreement.

 

9.        Execute
any document or perform any act described in items (3), (4), and (5) in connection with the termination of any Trust as necessary
to transfer ownership of the affected Loans to the entity (or its designee or assignee) possessing the right to obtain ownership
of the Loans.

 

10.       Subordinate
the lien of a Mortgage, Deed of Trust, or deed to secure debt (i) for the purpose of refinancing Loans, where applicable, or (ii)
to an easement in favor of a public utility company or a government agency or unit with powers of eminent domain,

 

    Exhibit Q-2

     

    

 

including but
not limited to the execution of partial satisfactions and releases and partial reconveyances reasonably required for such purpose,
and the execution or requests to the trustees to accomplish the same.

 

11.
     Convey the Property to the mortgage insurer, or close the title to the Property to be
acquired as real estate owner, or convey title to real estate owned property (“REO Property”).

 

12.      Execute
and deliver the following documentation with respect to the sale of the REO Property acquired through a foreclosure or deed-in-lieu
of foreclosure, including, without limitation, listing agreements, purchase and sale agreements, grant / limited or special warranty
/ quit claim deeds or any other deed, but not general warranty deeds, causing the transfer of title of the Property to a party
contracted to purchase same, escrow instructions and any all documents necessary to effect the transfer of REO Property.

 

The
undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every
act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney
as fully as the undersigned might or could do as of [date].

 

This
appointment is to be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts
or powers herein is not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

The
[Servicer] [Special Servicer] hereby agrees to indemnify and hold Wells Fargo Bank, National Association, as Trustee, and its
directors, officers, employees and agents harmless from and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the Trustee by reason
or result of the misuse of this Limited Power of Attorney by the [Servicer] [Special Servicer]. The foregoing indemnity shall
survive the termination of this Limited Power of Attorney and the Agreement or the earlier resignation or removal of Wells Fargo
Bank, National Association, as Trustee under the Agreement.

 

IN
WITNESS WHEREOF, Wells Fargo Bank, National Association, as Trustee has caused these presents to be signed and acknowledged in
its name and behalf by a duly elected and authorized signatory this _________ day of ________, 20[__].

 

	NO CORPORATE SEAL	 	Wells Fargo Bank, National Association, as Trustee,
	 	 	 
	 	 	For
[___________]
	 	 	 

    Exhibit Q-3

     

    

 

	 	 	By:	 
	Witness:	 	 	, Vice President     
	 	 	 	 
	 	 	By:	 
	Witness:	 	 	, Vice President     
	 	 	 	 
	 	 	 	 
	Attest: 	Trust Officer	 	 	 

 

    Exhibit Q-4

     

    

 

EXHIBIT
R

 

FORM
OF NOTICE OF EXCHANGE OF THE EXCHANGEABLE GROUPS OF CERTIFICATES

 

[Date]

 

[Certificateholder
Letterhead]

 

Wells
Fargo Bank, National Association

9062
Old Annapolis Road

Columbia,
Maryland 21045-1951

Attention:
CMBS – Corporate Trust Services – NCMS 2019-NEMA

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates,
                                         Series 2019-NEMA

 

Ladies
and Gentlemen:

 

Pursuant
to the terms of the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust and Servicing
Agreement”), entered into and executed in connection with the above referenced transaction, we hereby (i) certify
that as of the date above, the undersigned is the beneficial owner of the Exchangeable Group of Certificates described on the
attached Schedule I, is duly authorized to deliver this notice to the Certificate Administrator and that such power has not
been granted or assigned to any other Person and the Certificate Administrator may conclusively rely upon this notice and
(ii) give notice of our intent to present and surrender the Exchangeable Group of Certificates specified on Schedule I
attached hereto and all of our right, title and interest in and to such Certificates, including all payments of interest
thereon received after [____] [__], 20[__], in exchange for the corresponding Certificates specified on Schedule I attached
hereto. We propose an Exchange Date of [______].

 

We
agree that upon such exchange, our interests in the portions of the Certificates surrendered in exchange shall be reduced and
our interest in the portion of the Certificate received in such exchange shall be increased.

 

[[If
Applicable] Our Depository participant number is [________].]

 

Capitalized
terms used in this notice but not defined herein have the meanings assigned to them in the Trust and Servicing Agreement.

 

    Exhibit R-1

     

    

 

Sincerely,

 

[_____________]

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

[Medallion
Stamp Guarantee]

 

    Exhibit R-2

     

    

 

Schedule
I to Exhibit R

 

	Certificates
                                         to be Surrendered
	 
	Certificates
                                         to be

                                                                                         Received 

	CUSIP
	 
	Outstanding
                                         Certificate

                                                                                                     Balance
	 
	Initial
                                         Certificate

                                                                                                     Balance
	 
	CUSIP

	 	 	 	 	 	 	 
				

 

    Exhibit R-3

     

    

 

EXHIBIT
S

 

ADDITIONAL FORM 10-D DISCLOSURE

 

For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible”
column are obligated pursuant to Section 13.4 of the Trust and Servicing Agreement to disclose to each Other Exchange Act Reporting
Party and each Other Depositor to which the particular Additional Form 10-D Disclosure is relevant for Exchange Act reporting purposes,
any information described in the corresponding Form 10-D Item described in the “Item on Form 10-D” column to the extent
such party has knowledge (and in the case of net operating income information, financial statements, annual operating statements,
budgets and/or rent rolls required to be provided in connection with Item 6 below, possession) of such information (other than
information as to itself). Each of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, each Other Exchange
Act Reporting Party and the Other Depositor (in its capacity as such) shall be entitled to rely on the accuracy of the Offering
Circular and the offering materials with respect to any related Other Securitization Trust (other than information with respect
to itself that is set forth in or omitted from such offering materials or the Offering Circular), in the absence of specific notice
to the contrary from the Depositor, Other Depositor or the Loan Seller. Each of the Certificate Administrator, the Trustee, the
Servicer, the Special Servicer, each Other Exchange Act Reporting Party and the Other Depositor (in its capacity as such) shall
be entitled to assume that there is no “significant obligor” other than a party or property identified as such in the
prospectus relating to the Other Securitization and to assume that no other party or property will constitute a “significant
obligor” after the Cut-off Date. For this Agreement and any Other Securitization Trust, each of the Certificate Administrator,
the Trustee, the Servicer, the Special Servicer, each Other Exchange Act Reporting Party and the Other Depositor (in its capacity
as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within
the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as such in the Offering Circular and the offering
materials with respect to any related Other Securitization Trust.

 

	Item on Form 10-D	Party Responsible
	
         

        Item 1A: Distribution
        and Pool Performance Information:

         

        ●        
        Item 1121(a)(13) of Regulation AB

         
	
         

        ●        
        Certificate Administrator

         

	
         

        Item 1B: Distribution
        and Pool Performance Information:

         

        ●        
Item 1121(a)(14) of Regulation AB
	
         

        ●        
        Certificate Administrator

         

        ●        
        Depositor

         

        

 

    Exhibit S-1

     

    

 

	Item on Form 10-D	Party Responsible
	
         

        Item 2: Legal Proceedings:

         

        ●           Item 1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described
        therein that are material to security holders)

         
	
         

        ●      Servicer (as to itself)

         
●      Special
Servicer (as to itself)

         

        ●      Certificate
Administrator (as to itself)

         

        ●      Trustee
(as to itself)

         

        ●      Depositor
(as to itself)

         

        ●      Any
other Reporting Servicer (as to itself)

         

        ●      Trustee/Certificate Administrator/Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal
control of the proceedings)

         

        ●      The
Loan Seller as sponsor (as defined in Regulation AB)

         

        ●      Originators
under Item 1110 of Regulation AB

         

        ●      Party
under Item 1100(d)(1) of Regulation AB

         

	Item 3:  Sale of Securities and Use of Proceeds	   ●      Depositor
	Item 4:  Defaults Upon Senior Securities	   ●      Certificate Administrator
	Item 5:  Submission of Matters to a Vote of Security Holders	   ●      Certificate Administrator

 

    Exhibit S-2

     

    

 

	Item on Form 10-D	Party Responsible
	
         

        Item 6: Significant Obligors
        of Pool Assets:

         

        ●     
        Item 1112(b) of Regulation AB provided, however, that all of the following conditions shall apply:

         

        (a) information shall
        be required to be reported only with respect to a party or property (if any) identified as a “significant obligor”
        in the prospectus relating to the Companion Loan Securities;

         

        (b) the information to
        be reported shall consist of such quarterly and annual operating statements, budgets and rent rolls of the related Property or
        REO Property (as applicable), and quarterly and annual financial statements of the related Borrower (except in the case of an REO
        Property), received or prepared by the “Party Responsible” pursuant to its obligations under Section 3.18 of this Trust
        and Servicing Agreement; provided, however, that for a significant obligor under item 1101(k)(2) of Regulation AB,
        only net operating income for the most recent fiscal year and interim period is required and, if such information for a prior period
        was required but not previously reported, such information for such prior period; and

         

        (c) the information shall
        be reportable in the Form 10-D that relates to the Distribution Date that immediately follows the Collection Period in which the
        information was received or prepared by the “Party Responsible” as described in clause (b) above.

         
	
         

        ●   
        Servicer (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ●    
        Special Servicer (as to REO Properties)

         

	
         

        Item 7: Significant Enhancement
        Provider Information:

         

        ●        
        Item 1114(b)(2) and Item 1115(b) of Regulation AB

        
	   ●    Depositor

 

    Exhibit S-3

     

    

 

	Item on Form 10-D	Party Responsible	 
	Item 8:  Other Information, but only to the extent of any information that meets all the following conditions:  (a) such information constitutes “Additional Form 8-K Disclosure” pursuant to Exhibit T, (b) such information is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such information was not previously reported as “Additional Form 8-K Disclosure”.	
         

        ●     Certificate Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent that such party is the
        “Party Responsible” with respect to such information pursuant to Exhibit U.

         

        ●    Certificate Administrator (including the balances of the Distribution Account, the Interest Reserve Account as of the related
Distribution Date and the preceding Distribution Date)

         

        ●    Servicer (with respect to the balances of each REO Account (to the extent the related information has been received from
        the Special Servicer within the time period specified in Section 13.4 of the Trust and Servicing Agreement) and the Collection
        Account as of the related Distribution Date and the preceding Distribution Date)

         

        ●     Special Servicer (with respect to the balance of each REO Account as of the related Distribution Date and the preceding
Distribution Date)

         

        ●     Any other party responsible for disclosure items on Form 8-K (including each applicable Seller with respect to Item 1100(e)
        of Regulation AB to the extent material to Certificateholders)

         
	 
	
         

        Item 9: Exhibits (no.
        3):

         

        Articles of incorporation
        and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K)

        
	   ●    Depositor	 

 

    Exhibit S-4

     

    

 

	Item on Form 10-D	Party Responsible	 
	
         

        Item 9: Exhibits (no.
        4):

         

        With respect to instruments
        defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	
         

         ●     Certificate Administrator

         

         ●     Depositor

         

        provided, in
        each case, that this shall in no event be construed to make such party responsible for the initial filing of this Trust and Servicing
        Agreement

         

        provided
        further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee or Certificate
        Administrator, then the Depositor shall be the responsible party.

         
	 
	
         

        Item 9: Exhibits (no.
        10):

         

        Material contracts (Exhibit
        No. 10 of Item 601 of Regulation S-K)

         
	●     Certificate Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the following conditions:  (a) such contract relates to the Trust or the Whole Loan or REO Property, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.	 
	
         

        Item 9: Exhibits (no.
        22):

         

        Published Report Regarding
        Matters Submitted to a Vote of Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K), but only if the party that is the
        “Party Responsible” with respect to Item 5 above elects to publish a report containing the information required by
        such Item 5 above and also elects to report the information on Form 10-D by means of filing the published report and answering
        Item 5 by referencing the published report.

        
	●     The applicable party that is the “Party Responsible” with respect to Item 5 as set forth above.	 

 

    Exhibit S-5

     

    

 

	Item on Form 10-D	Party Responsible	 
	
         

        Item 9: Exhibits (no.
        23):

         

        Consents of Experts and
        Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where the filing of a written consent is required with respect to material
        (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement.

         
	●         Depositor	 
	
         

        Item 9: Exhibits (no.
        24)

         

        Power of Attorney (Exhibit
        No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing
        the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.

         
	●        Certificate Administrator	 
	
         

        Item 9: Exhibits (no.
        99)

         

        Additional exhibits (Exhibit
        No. 99 of Item 601 of Regulation S-K)

         
	●        Not Applicable.	 
	
         

        Item 9: Exhibits (no.
        100)

         

        BRL-Related Documents
        (Exhibit No. 100 of Item 601 of Regulation S-K).

         
	●        Not Applicable.	 
	Item 9:  Exhibits (By Operation of Item 8 Above), but only to the extent of any document that meets all the following conditions:  (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d) of Exhibit T, (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-D relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	●         Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible” for the exhibit pursuant to Item 9(d) of Exhibit U (it being acknowledged that none of the Servicer or the Special Servicer constitutes a “Party Responsible” under Exhibit U with respect to any exhibits to a Form 10-K); provided, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee or Certificate Administrator, then the Depositor shall be the responsible party for this Item 9.	 

 

    Exhibit S-6

     

    

 

EXHIBIT
T

 

ADDITIONAL FORM 10-K DISCLOSURE

 

For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible”
column are obligated pursuant to Section 13.5 of the Trust and Servicing Agreement to disclose to each Other Exchange Act Reporting
Party and each Other Depositor to which the particular Additional Form 10-K Disclosure is relevant for Exchange Act reporting purposes,
any information described in the corresponding Form 10-K Item described in the “Item on Form 10-K” column to the extent
such party has knowledge (and in the case of net operating income information, financial statements, annual operating statements,
budgets and/or rent rolls required to be provided in connection with 1112(b) below, possession) of such information (other than
information as to itself). Each of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, each Other Exchange
Act Reporting Party and the Other Depositor (in its capacity as such) shall be entitled to rely on the accuracy of the Offering
Circular and the offering materials with respect to any related Other Securitization Trust (other than information with respect
to itself that is set forth in or omitted from such offering materials or the Offering Circular), in the absence of specific notice
to the contrary from the Depositor, Other Depositor or the Loan Seller. Each of the Certificate Administrator, the Trustee, the
Servicer, the Special Servicer, each Other Exchange Act Reporting Party and the Other Depositor (in its capacity as such) shall
be entitled to assume that there is no “significant obligor” other than a party or property identified as such in the
prospectus relating to the Other Securitization and to assume that no other party or property will constitute a “significant
obligor” after the Cut-off Date. For this Agreement and any Other Securitization Trust, each of the Certificate Administrator,
the Trustee, the Servicer, the Special Servicer, each Other Exchange Act Reporting Party and the Other Depositor (in its capacity
as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within
the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as such in the Offering Circular and the offering
materials with respect to any related Other Securitization Trust.

 

	Item on Form 10-K	Party Responsible
	
        Item 1B: Unresolved Staff Comments
	●      Depositor

 

    Exhibit T-1

     

    

 

	Item on Form 10-K	Party Responsible
	
        Item 9B: Other Information, but only to the extent of any
        information that meets all the following conditions:

        (a) such information constitutes “Additional Form 8-K
        Disclosure” pursuant to Exhibit T,

        (b) such information is required to be reported as “Additional
        Form 8-K Disclosure” during the period to which the Form 10-K relates, and

        (c) such information was not previously reported as “Additional
        Form 8-K Disclosure” or as “Additional Form 10-D Disclosure”
	●      Certificate Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent that such party is the “Party Responsible” with respect to such information pursuant to Exhibit U. 
	Item 15: Exhibits, Financial Statement Schedules (SEE BELOW)	SEE BELOW
	
        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 1 of 3 Parts:

        ●      Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was required to have been set forth in the prospectus
        relating to the Companion Loan Securities, (ii) such information was not so set forth and (iii) the applicable Servicer has not
        previously reported such information as “Additional Form 10-D Information”.

         
	
        ●      The
        Loan Seller.

 

    Exhibit T-2

     

    

 

	Item on Form 10-K	Party Responsible
	
        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 2 of 3 Parts:

        ●      Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was set forth in the prospectus relating to the Companion
        Loan Securities and (ii) the applicable Servicer has not previously reported such information or updated versions thereof as “Additional
        Form 10-D Information”.
	  ●      The Depositor

 

    Exhibit T-3

     

    

 

	Item on Form 10-K	Party Responsible
	
        Instruction J(2)(b) (Significant Obligors of Pool Assets)
        – Part 3 of 3 Parts:

        ●      Item
        1112(b) of Regulation AB; provided, however, that all of the following conditions shall apply:

        (a) information shall be required to be reported only with
        respect to a party or property (if any) identified as a “significant obligor” in the prospectus relating to the Companion
        Loan Securities;

        (b) the information to be reported shall consist of such
        quarterly and annual operating statements, budgets and rent rolls of the related Property or REO Property (as applicable), and
        quarterly and annual financial statements of the related Borrower (except in the case of an REO Property), received or prepared
        by the “Party Responsible” pursuant to its obligations under Section 3.18 of this Trust and Servicing Agreement; provided,
        however, that for a significant obligor described under item 1101(k)(2) of Regulation AB, only net operating income for
        the most recent fiscal year and interim period is required and, if such information for a prior period was required but not previously
        reported, such information for such prior period; and

        (c) the information shall be reportable only to the extent
        that is has not previously been reported as “Additional Form 10-D Information”.
	
        ●     Servicer
        (excluding information for which the Special Servicer is the “Party Responsible”)

        ●     Special
        Servicer (as to REO Properties)

 

    Exhibit T-4

     

    

 

	Item on Form 10-K	Party Responsible
	
        Instruction J(2)(c) (Significant Enhancement Provider Information):

        ●      Items
        1114(b)(2) and 1115(b) of Regulation AB
	  ●     Depositor
	
        Instruction J(2)(d) (Legal Proceedings):

        ●      Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described therein that
        are material to security holders)
	
        ●     Servicer
        (as to itself)

        ●     Special
        Servicer (as to itself)

        ●     Certificate
        Administrator (as to itself)

        ●     Trustee
        (as to itself)

        ●     Depositor
        (as to itself)

        ●     Trustee/Certificate
        Administrator /Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of the proceedings)

        ●     The
        Loan Seller as sponsor (as defined in Regulation AB)

        ●     Originators
        under Item 1110 of Regulation AB

        ●     Party
        under Item 1100(d)(1) of Regulation AB

	
        Instruction J(2)(e) (Affiliations and Certain Relationships
        and Related Transactions) – Part 1 of 2 Parts:

        1119(a) of Regulation AB,

        but only the existence and (if existent) how there
is (that is, the nature of) any affiliation between itself (that is, the particular “Party Responsible”), on the one
hand, and any one or more of the following, on the other: (1) the Depositor, (2) the Loan Seller, (3) the Trust and (4) any other
party listed under this item as 
	
        ●     Servicer
        (as to itself) (only as to affiliations under Item 1119(a) with the Trustee, Certificate Administrator, each Special Servicer or
        a sub-servicer retained by it meeting any of the descriptions in Item 1108(a)(3)).

        ●     Special
        Servicer

        ●     Certificate
        Administrator

        ●     Trustee

        

 

    Exhibit T-5

     

    

 

	Item on Form 10-K	Party Responsible
	
        a “Party Responsible”; provided,
however, that an affiliation need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the
prospectus relating to the Companion Loan Securities or if it was previously reported as “Additional Form 10-K Disclosure”.

        and

        ●      1119(b)
        of Regulation AB,

        but only the existence and (if existent) the general character
        of any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course
        of business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party (apart
        from the Series 201[_]-[_] transaction) between itself (that is, the particular “Party Responsible”) or any of its
        affiliates, on the one hand, and any one or more of the following, on the other: (1) the Depositor, (2) the Loan Seller, and (3)
        the Trust; provided, however, that a relationship, agreement, arrangement, transaction or understanding (A) must
        be reported only if it then exists or existed within the two prior years, (B) need not be reported if it is not material to an
        investor’s understanding of the Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it
        was disclosed in the prospectus relating to the Companion Loan Securities or if it was previously reported as “Additional
        Form 10-K Disclosure”.

        and

        ●      1119(c)
        of Regulation AB,

        but only the existence and (if existent) a description
(including the terms and approximate dollar amount) of any specific relationship involving or related to the Series
	
        ●     Each
party (other than the Loan Seller), if any, that is identified in the prospectus relating to the Companion Loan Securities as
an “originator” of the Whole Loan, if the prospectus relating to the Companion Loan Securities specifically states
that the Whole Loan was 10% or more of the assets of the Trust at the date of the prospectus relating to the Companion Loan Securities
(provided that such a party shall no longer constitute a “Party Responsible” under this item from and after the date
(if any) when the Depositor notifies the parties to this Agreement to the effect that such party no longer constitutes an originator
of 10% or more of the assets of the Trust).

        ●     Each
        party (other than the Loan Seller), if any, that is specifically identified as an “originator of 10% or more of the assets
        of the Trust for purposes of Regulation AB and the upcoming Form 10-K” in a written notice delivered to the parties to this
        Trust and Servicing Agreement, which notice is delivered not later than February 15 of the year in which the Form 10-K is due.

        ●     Each
party (if any) that is identified in the prospectus relating to the Companion Loan Securities as an “other material party
to the securities or transaction” (or substantially similar phrasing); provided, however, that such a party shall no longer
constitute a “Party Responsible” under this item from and after the date (if any) when the Depositor notifies the
parties to this Agreement to the effect that such party no longer constitutes a material party for purposes of Regulation AB.

 

    Exhibit T-6

     

    

 

 

	Item on Form 10-K	Party Responsible
	
        201[_]-[_] transaction or the Whole Loan between
itself (that is, the particular “Party Responsible”) or any of its affiliates, on the one hand, and any one or more
of the following, on the other: (1) the Depositor, (2) the Loan Seller, and (3) the Trust; provided, however, that
a relationship (A) must be reported only if it then exists or existed within the two prior years, (B) need not be reported if
it is not material to an investor’s understanding of the Certificates and (C) need not be disclosed for purposes of the
applicable Form 10-K if it was disclosed in the prospectus relating to the Companion Loan Securities or if it was previously reported
as “Additional Form 10-K Disclosure”.
	
        ●     Each
party (if any) that that is specifically identified as an “other material party to the securities or transaction for purposes
of Regulation AB and the upcoming Form 10-K” (or substantially similar phrasing) in a written notice delivered by the Depositor
to the parties to this Trust and Servicing Agreement, which notice is delivered not later than February 15 of the year in which
the Form 10-K is due.

	
        Instruction J(2)(e) (Affiliations and Certain Relationships
        and Related Transactions) – Part 2 of 2 Parts:

        1119(a) of Regulation AB,

        But only the existence and (if existent) how there is any
        affiliation between itself (that is, the particular “Party Responsible”), on the one hand, and any one or more of the
        parties listed under the preceding item as a “Party Responsible”, on the other; provided, however,
        that an affiliation need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the prospectus relating
        to the Companion Loan Securities or if it was previously reported as “Additional Form 10-K Disclosure”.

        and

        ●      1119(b)
        of Regulation AB,

        but only the existence and (if existent) the general
character of any business relationship, agreement, arrangement, transaction or 
	
        ●     The
        Depositor

        ●     The
        Loan Seller

 

    Exhibit T-7

     

    

 

 

	Item on Form 10-K	Party Responsible
	
        understanding that is entered into outside the ordinary
        course of business or is on terms other than would be obtained in an arm’s length transaction with an unrelated
        third party (apart from the Series 201[_]-[_] transaction) between itself (that is, the particular “Party Responsible”),
        on the one hand, and any one or more of the parties listed under the preceding item as a “Party Responsible”,
        on the other; provided, however, that a relationship, agreement, arrangement, transaction or understanding
        (A) must be reported only if it then exists or existed within the two prior years, (B) need not be reported if it is not
        material to an investor’s understanding of the Certificates and (C) need not be disclosed for purposes of the applicable
        Form 10-K if it was disclosed in the prospectus relating to the Companion Loan Securities or if it was previously reported
        as “Additional Form 10-K Disclosure”.

        and

        ●      1119(c)
        of Regulation AB,

        but only the existence and (if existent) a description
        (including the terms and approximate dollar amount) of any specific relationship involving or related to the Series 201[_]-[_]
        transaction or the Whole Loan between itself (that is, the particular “Party Responsible”) or any of its affiliates,
        on the one hand, and any one or more of the parties listed under the preceding item as a “Party Responsible”,
        on the other; provided, however, that a relationship (A) must be reported only if it then exists or existed
        within the two prior years, (B) need not be reported if it is not material to an investor’s understanding of the
        Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the prospectus
        relating to the Companion Loan Securities or if it was previously reported as “Additional Form 10-K
	
        

 

    Exhibit T-8

     

    

 

	Item on Form 10-K	Party Responsible	 
	Disclosure”.	 

                                                                                 
	 
	
        Item 15: Exhibits (no. 2):

        Plan of acquisition, reorganization, arrangement, liquidation
        or succession (Exhibit No. 2 of Item 601 of Regulation S-K)
	●        Depositor	 
	
        Item 15: Exhibits (no. 3):

        Articles of incorporation and by-laws (Exhibit No. 3(i) and
        3(ii) of Item 601 of Regulation S-K)
	●        Depositor	 
	
        Item 15: Exhibits (no. 4):

        With respect to instruments defining the rights of security
        holders (Exhibit No. 4 of Item 601 of Regulation S-K)
	
        ●      Trustee

        ●      Certificate
        Administrator

        ●      Depositor

        provided, in each case, that this shall in no event
        be construed to make such party responsible for the initial filing of this Trust and Servicing Agreement

        provided further, in each case, that in the
        event any reportable agreement is executed by the Depositor and the Trustee or Certificate Administrator, then the Depositor shall
        be the responsible party.
	 
	
        Item 15: Exhibits (no. 10):

        Material contracts (Exhibit No. 10 of Item 601 of Regulation
        S-K)
	  ●       Certificate Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the following conditions: (a) such contract relates to the Trust or the Whole Loan or REO Property, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.	 

 

    Exhibit T-9

     

    

 

	Item on Form 10-K	Party Responsible
	
        Item 15: Exhibits (no. 11):

        Statement regarding computation of per share earnings (Exhibit
        No. 11 of Item 601 of Regulation S-K)
	●      Not Applicable
	
        Item 15: Exhibits (no. 12):

        Statement regarding computation of ratios (Exhibit No. 12
        of Item 601 of Regulation S-K)
	●      Not Applicable.
	
        Item 15: Exhibits (no. 13):

        Annual report to security holders, Form 10-Q and Form 10-QSB,
        or quarterly report to security holders (Exhibit No. 13 of Item 601 of Regulation S-K)
	●      Not Applicable
	
        Item 15: Exhibits (no. 14):

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation
        S-K)
	●      Not Applicable.
	
        Item 15: Exhibits (no. 16):

        Letter re change in certifying accountant (Exhibit No. 16
        of Item 601 of Regulation S-K)
	●      Not Applicable
	
        Item 15: Exhibits (no. 18):

        Letter re change in accounting principles (Exhibit No. 18
        of Item 601 of Regulation S-K)
	●      Not Applicable.
	
        Item 15: Exhibits (no. 21):

        Subsidiaries of registrant (Exhibit No. 18 of Item 601 of
        Regulation S-K)
	●      Depositor.

 

    Exhibit T-10

     

    

 

	Item on Form 10-K	Party Responsible
	
        Item 15: Exhibits (no. 22):

        Published Report Regarding Matters Submitted to a Vote of
        Security Holders (Exhibit No. 22 of Item 601 of Regulation S-K).
	●      Not applicable.
	
        Item 15: Exhibits (no. 23) – Part 1 of 2 Parts:

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
        601 of Regulation S-K), where (a) the filing of a written consent is required with respect to material (in the Form 10-D) that
        is incorporated by reference in the Depositor’s registration statement and (b) the consent is not the consent of a registered
        public accounting firm in connection with an attestation delivered pursuant to Section 13.8 of this Trust and Servicing Agreement.
	●      Depositor
	
        Item 15: Exhibits (no. 23) – Part 2 of 2 Parts:

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
        601 of Regulation S-K), but the required shall consist of a consent of the registered public accounting firm for purposes of any
        attestation report rendered with respect to the particular “Party Responsible” pursuant to Section 13.8 of this Trust
        and Servicing Agreement.
	
        ●    Servicer

        ●    Special
        Servicer

        ●    Depositor

        ●    Any
        other Servicing Function Participant

        provided, however, in each case, that such
        party shall have the duty to report or deliver, or cause the reporting or delivery, of such consent only to the extent that such
        party is required to deliver or cause the delivery of the related attestation report.

	
        Item 15: Exhibits (no. 24)

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
        S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
        party, is signed pursuant to a power of attorney.
	●      Certificate Administrator 

 

    Exhibit T-11

     

    

 

	Item on Form 10-K	Party Responsible
	
        Item 15: Exhibits (no. 31(i))

        Rule 13a-14(a)/15d-14(a) Certifications (Exhibit No. 31(i)
        of Item 601 of Regulation S-K).
	●     Not Applicable
	
        Item 15: Exhibits (no. 31(ii))

        Rule 13a-14(d)/15d-14(d) Certifications (Exhibit No. 31(ii)
        of Item 601 of Regulation S-K).
	●     Delivery of this exhibit (Sarbanes-Oxley certification and backup certifications) is governed by Section 13.11) of this Trust and Servicing Agreement.
	
        Item 15: Exhibits (no. 32)

        Section 1350 Certifications (Exhibit No. 32 of Item 601 of
        Regulation S-K).
	●     Not Applicable.
	
        Item 15: Exhibits (no. 33)

        Report on assessment of compliance with servicing criteria
        for asset-backed securities (Exhibit No. 33 of Item 601 of Regulation S-K).
	●     Delivery of this exhibit (annual compliance assessment) is governed by Section 13.8) of this Trust and Servicing Agreement.
	
        Item 15: Exhibits (no. 34)

        Attestation report on assessment of compliance with servicing
        criteria for asset-backed securities (Exhibit No. 34 of Item 601 of Regulation S-K).
	●     Delivery of this exhibit (annual accountants’ attestation report) is governed by Section 13.9 of this Trust and Servicing Agreement.
	
        Item 15: Exhibits (no. 35)

        Servicer compliance statement (Exhibit No. 35 of Item 601
        of Regulation S-K).
	●     Delivery of this exhibit (annual servicer compliance statements) is governed by Section 13.7 (and Section 13.8) of this Trust and Servicing Agreement.
	
        Item 15: Exhibits (no. 99)

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
        S-K)
	●     Not Applicable.
	
        Item 15: Exhibits (no. 100)x

        BRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation
        S-K).
	●     Not Applicable.

 

    Exhibit T-12

     

    

 

	Item on Form 10-K	Party Responsible	 
	Item 15: Exhibits (By Operation of Item 9B Above), but only to the extent of any document that meets all the following conditions: (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d) of Exhibit T, (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-K relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	●     Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible” for the exhibit pursuant to Item 9(d) of Exhibit U (it being acknowledged that none of the Servicer or the Special Servicer constitutes a “Party Responsible” under Exhibit U with respect to any exhibits to a Form 10-K).	 

 

    Exhibit T-13

     

    

 

EXHIBIT
U

 

FORM
8-K DISCLOSURE INFORMATION

 

For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible”
column are obligated pursuant to Section 13.6 of the Trust and Servicing Agreement to report to each Other Exchange Act Reporting
Party and each Other Depositor to which the particular Form 8-K Disclosure Information is relevant for Exchange Act reporting purposes,
the occurrence of any event described in the corresponding Form 8-K Item described in the “Item on Form 8-K” column
to the extent such party has knowledge of such information (other than information as to itself). Each of the Certificate Administrator,
the Trustee, the Servicer, the Special Servicer, each Other Exchange Act Reporting Party and the Other Depositor (in its capacity
as such) shall be entitled to rely on the accuracy of the Offering Circular and the offering materials with respect to any related
Other Securitization Trust (other than information with respect to itself that is set forth in or omitted from such offering materials
or the Offering Circular), in the absence of specific notice to the contrary from the Depositor, Other Depositor or the Loan Seller.
Each of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, each Other Exchange Act Reporting Party
and the Other Depositor (in its capacity as such) shall be entitled to assume that there is no “significant obligor”
other than a party or property identified as such in the prospectus relating to the Other Securitization and to assume that no
other party or property will constitute a “significant obligor” after the Cut-off Date. For this Agreement and any
Other Securitization Trust, each of the Certificate Administrator, the Trustee, the Servicer, the Special Servicer, each Other
Exchange Act Reporting Party and the Other Depositor (in its capacity as such) shall be entitled to assume that there is no provider
of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than
a party identified as such in the Offering Circular and the offering materials with respect to any related Other Securitization
Trust.

 

    Exhibit U-1

     

    

 

	Item on Form 8-K	Party Responsible 	 
	
         

        Item 1.01: Entry into
        a Material Definitive Agreement

         
	
         

        ●      Depositor, except as described in the next bullet (it being acknowledged that Item 601 of Regulation S-K requires filing
        of material contracts to which the registrant or a subsidiary thereof is a party).

         

        ●     Certificate Administrator, Trustee, Servicer and/or Special Servicer (it being acknowledged that Instruction 3 to Item
        1.01 of Form 8-K requires disclosure regarding the entry into or an amendment of a definitive agreement that is material to the
        asset-backed securities transaction, even if the registrant is not a party to such agreement), in each case to the extent of any
        amendment or definitive agreement that satisfies all the following conditions: (a) such amendment or definitive agreement relates
        to the Trust or the Whole Loan or REO Property, and (b) such amendment or definitive agreement is an amendment or definitive agreement
        to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor
        engaged by such party) has caused to have been executed on behalf of the Trust; provided, however,
        that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this Trust
        and Servicing Agreement.

         
	 

 

    Exhibit U-2

     

    

 

	Item on Form 8-K	Party Responsible 	 
	Item 1.02:  Termination of a Material Definitive Agreement– Part 1 of 2 Parts	●     Certificate Administrator, Trustee, Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the following conditions: (a) such contract relates to the Trust or the Whole Loan or REO Property, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this Trust and Servicing Agreement.	 
	Item 1.02:  Termination of a Material Definitive Agreement– Part 2 of 2 Parts	●      Depositor, to the extent of any material agreement not covered in the prior item	 
	Item 1.03:  Bankruptcy or Receivership	●      Depositor	 
	Item 2.04:  Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement	
         

         ●      Depositor

         

         ●      Certificate Administrator

         
	 
	Item 3.03:  Material Modification to Rights of Security Holders	●      Certificate Administrator	 
	Item 5.03:  Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year	●      Depositor	 
	Item 6.01:  ABS Informational and Computational Material	●      Depositor	 
	Item 6.02 (Part 1 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a change in trustee	
         

         ●       Trustee

         

         ●       Depositor

         
	 

 

 

    Exhibit U-3

     

    

 

	Item on Form 8-K	Party Responsible 
	Item 6.02 (Part 2 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a change in Servicer or Special Servicer	
         

         ●        
        Certificate Administrator

         

         ●        
        Servicer or Special Servicer, as the case may be (in each case, as to itself)

         

	Item 6.02 (Part 3 of 3 Parts):  Change of Servicer or Trustee, but only to the extent related to a servicer (other than a party to the Trust and Servicing Agreement) appointed by the particular “Party Responsible”.	
         

         ●        
        Servicer

         

         ●        
        Special Servicer

         

         ●        
        Certificate Administrator

         

         ●        
        Depositor

         

	Item 6.03:  Change in Credit Enhancement or External Support	
         

         ●        
        Depositor

         

         ●        
        Certificate Administrator

         

	Item 6.04:  Failure to Make a Required Distribution	●         Certificate Administrator
	Item 6.05:  Securities Act Updating Disclosure	●         Depositor
	Item 7.01:  Regulation FD Disclosure	●         Depositor
	Item 8.01:  Other Events	●         Depositor
	
         

        Item 9.01(d): Exhibits
        (no. 1):

         

        Underwriting agreement
        (Exhibit No. 1 of Item 601 of Regulation S-K)

         
	●         Not applicable
	
         

        Item 9.01(d): Exhibits
        (no. 2):

         

        Plan of acquisition,
        reorganization, arrangement, liquidation or succession (Exhibit No. 2 of Item 601 of Regulation S-K)

         
	●         Depositor
	
         

        Item 9.01(d): Exhibits
        (no. 3):

         

        Articles of incorporation
        and by-laws (Exhibit No. 3(i) and 3(ii) of Item 601 of Regulation S-K)

         
	●         Depositor

 

    Exhibit U-4

     

    

 

	Item on Form 8-K	Party Responsible 	 
	
         

        Item 9.01(d): Exhibits
        (no. 4):

         

        With respect to instruments
        defining the rights of security holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	
         

         ●        
        Certificate Administrator

         

        provided, in
        each case, that this shall in no event be construed to make such party responsible for the initial filing of this Trust and Servicing
        Agreement

         
	 
	
         

        Item 9.01(d): Exhibits
        (no. 7):

         

        Correspondence from an
        independent accountant regarding non-reliance on a previously issued audit report or completed interim review. (Exhibit No. 7 of
        Item 601 of Regulation S-K)

         
	●         Not Applicable	 
	
         

        Item 9.01(d): Exhibits
        (no. 14):

         

        Code of Ethics (Exhibit
        No. 14 of Item 601 of Regulation S-K)

         
	●         Not Applicable	 
	
         

        Item 9.01(d): Exhibits
        (no. 16):

         

        Letter re change in certifying
        accountant (Exhibit No. 16 of Item 601 of Regulation S-K)

         
	●         Not Applicable	 
	
        

Item 9.01(d): Exhibits
        (no. 17):

         

        Correspondence on departure
        of director (Exhibit No. 17 of Item 601 of Regulation S-K)

         
	●         Not Applicable	 
	
         

        Item 9.01(d): Exhibits
        (no. 20):

         

        Other documents or statements
        to security holders (Exhibit No. 20 of Item 601 of Regulation S-K)

         
	●         Not Applicable	 

 

    Exhibit U-5

     

    

 

	Item on Form 8-K	Party Responsible 
	
         

        Item 9.01(d): Exhibits
        (no. 23):

         

        Consents of Experts and
        Counsel (Exhibit No. 23(ii) of Item 601 of Regulation S-K), where the filing of a written consent is required with respect to material
        (in the Form 10-D) that is incorporated by reference in the Depositor’s registration statement.

         
	●         Depositor
	
         

        Item 9.01(d): Exhibits
        (no. 24)

         

        Power of Attorney (Exhibit
        No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing
        the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.

         
	●         Certificate Administrator
	
         

        Item 15: Exhibits (no.
        99)

         

        Additional exhibits (Exhibit
        No. 99 of Item 601 of Regulation S-K)

         
	●         Not Applicable.
	
         

        Item 15: Exhibits (no.
        100)

         

        BRL-Related Documents
        (Exhibit No. 100 of Item 601 of Regulation S-K).

         
	●         Not Applicable.

 

    Exhibit U-6

     

    

 

EXHIBIT
V

 

ADDITIONAL
DISCLOSURE NOTIFICATION

 

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO cts.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO THE ADDRESS
IMMEDIATELY BELOW**

 

Wells
Fargo Bank, National Association,

as
Certificate Administrator

9062
Old Annapolis Road

Columbia,
Maryland 21045-1951

Attention:
Natixis Commercial Mortgage Securities Trust 2019-NEMA

 

RE:
**Additional Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies
and Gentlemen:

 

In
accordance with Section [13.4] [13.5] [13.6] of the Trust and Servicing Agreement, dated as of March 29, 2019 (the “Trust
and Servicing Agreement”), by and among Natixis Commercial Mortgage Securities LLC, as Depositor (the “Depositor”),
KeyBank National Association, as Servicer, Situs Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee the undersigned, as [ ], hereby notifies you that certain events have come to our attention
that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

List
of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any
inquiries related to this notification should be directed to [                ], phone number: [                   ]; email address: [                ].

 

	 	[NAME OF PARTY],
	 	as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc:
Depositor

 

    Exhibit V-1

     

    

 

EXHIBIT
W

 

INITIAL
SUB-SERVICERS

 

None.

 

    Exhibit W-1

     

    

 

EXHIBIT
X-1

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY SERVICER

 

Natixis
Commercial Mortgage Securities LLC

1251
Avenue of the Americas

New
York, New York 10020

Attention:
Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates,
                                         Series 2019-NEMA, issued pursuant to the Trust and Servicing Agreement dated as of March
                                         29, 2019 (the “Trust and Servicing Agreement”), among Natixis Commercial
                                         Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs
                                         Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate
                                         Administrator and Trustee. 

 

I,
[identity of certifying individual], hereby certify, with the knowledge and intent that this Certification will be relied upon
by the applicable Certification Parties (as defined in the Trust and Servicing Agreement) (i) in connection with the certification
concerning the Trust, to be signed by an officer of the Depositor and/or (ii) in connection with the certification concerning
the trust related to an Other Securitization, to be signed by an officer of the Other Depositor, as applicable, and submitted
to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.             I
(or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the
Servicer in accordance with the Trust and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended
December 31, 20[__] (“Form 10-K”) and all information required to be provided by the Servicer in accordance
with the Trust and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed in respect
of the period covered by the Form 10-K of the Trust (collectively, with the Form 10-K, the “Reports”) (such
information provided by the Servicer, collectively, the “Servicer Periodic Information”);

 

2.             Based
on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special servicer
backup certificate delivered by each Special Servicer relating to the relevant period, the Servicer Periodic Information, taken
as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by
the Form 10-K;

 

    Exhibit X-1-1

     

    

 

3.             Based
on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special servicer
backup certificate delivered by each Special Servicer relating to the relevant period, all of servicing and other information
required to be provided by the Servicer under the Trust and Servicing Agreement for inclusion in the Reports for the period covered
by the Form 10-K is included in the Servicer Periodic Information;

 

4.             I
(or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the Servicer under the Trust
and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Servicer compliance statement
required to be delivered under Article XI of the Trust and Servicing Agreement for inclusion in the Form 10-K under Item 1123
of Regulation AB, and except as disclosed in the Servicer Periodic Information, the Servicer has fulfilled its obligations under
the Trust and Servicing Agreement in all material respects;

 

5.             The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating to
the Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct a review
in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.             All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Servicer or any
Servicing Function Participant retained by the Servicer (the “Relevant Servicing Criteria”) and their related
attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Trust and Servicing Agreement
to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and
15d-18, have been delivered in accordance with the Trust and Servicing Agreement. All material instances of noncompliance with
the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance is fairly stated in all
material respects.

 

This
Certification is being signed by me as an officer of the Servicer responsible for reviewing the activities performed by the Servicer
under the Trust and Servicing Agreement.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	Name:
	 	 	Title:

 

    Exhibit X-1-2

     

    

 

EXHIBIT
X-2

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY SPECIAL SERVICER

 

Natixis
Commercial Mortgage Securities LLC

1251 Avenue of the Americas

New
York, New York 10020 

Attention:
Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates,
                                         Series 2019-NEMA, issued pursuant to the Trust and Servicing Agreement dated as of March
                                         29, 2019 (the “Trust and Servicing Agreement”), among Natixis Commercial
                                         Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs
                                         Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate
                                         Administrator and Trustee. 

 

I,
[identity of certifying individual], hereby certify, with the knowledge and intent that this Certification will be relied upon
by the applicable Certification Parties (as defined in the Trust and Servicing Agreement) (i) in connection with the certification
concerning the Trust, to be signed by an officer of the Depositor and/or (ii) in connection with the certification concerning
the trust related to an Other Securitization, to be signed by an officer of the Other Depositor, as applicable, and submitted
to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.             I
(or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the
Special Servicer in accordance with the Trust and Servicing Agreement for inclusion in the annual report on Form 10-K for the
period ended December 31, 20[__] (“Form 10-K”) and all information required to be provided by the Special Servicer
in accordance with the Trust and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed
in respect of the period covered by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”)
(such information provided by the Special Servicer, collectively, the “Special Servicer Periodic Information”);

 

2.             Based
on my knowledge, the Special Servicer Periodic Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

3.             Based
on my knowledge, all servicing and other information required to be provided by the Special Servicer under the Trust and Servicing
Agreement for inclusion in the

 

    Exhibit X-2-1

     

    

 

Reports for the period covered by the Form 10-K is included in the Special Servicer Periodic Information;

 

4.             I
(or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the Special Servicer under
the Trust and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Special Servicer’s
compliance statement required to be delivered under Article XI of the Trust and Servicing Agreement for inclusion in the Form
10-K under Item 1123 of Regulation AB, and except as disclosed in the Special Servicer Periodic Information, the Special Servicer
has fulfilled its obligations under the Trust and Servicing Agreement in all material respects;

 

5.             The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Special Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Special Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.             All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Special Servicer
or any Servicing Function Participant retained by the Special Servicer (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Trust
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Trust and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with
servicing criteria is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Special Servicer responsible for reviewing the activities performed by
the Special Servicer under the Trust and Servicing Agreement.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	Name:
	 	 	Title:

 

    Exhibit X-2-2

     

    

 

EXHIBIT
X-3

 

FORM
OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY CERTIFICATE ADMINISTRATOR

 

Natixis
Commercial Mortgage Securities LLC

1251 Avenue of the Americas 

New
York, New York 10020 

Attention:
Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates,
                                         Series 2019-NEMA, issued pursuant to the Trust and Servicing Agreement dated as of March
                                         29, 2019 (the “Trust and Servicing Agreement”), among Natixis Commercial
                                         Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs
                                         Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate
                                         Administrator and Trustee. 

 

I,
[identity of certifying individual], hereby certify, with the knowledge and intent that this Certification will be relied upon
by the applicable Certification Parties (as defined in the Trust and Servicing Agreement) (i) in connection with the certification
concerning the Trust, to be signed by an officer of the Depositor and/or (ii) in connection with the certification concerning
the trust related to an Other Securitization, to be signed by an officer of the Other Depositor, as applicable, and submitted
to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.             I
(or an officer under my supervision) have reviewed the annual report on Form 10-K for the period ended December 31, 20[__] (the
“Form 10-K”) and all reports on Form 10-D and Form 8-K filed in respect of the period covered by the Form 10-K
of the Trust (collectively, with the Form 10-K, the “Reports”);

 

2.             Based
on my knowledge, the Reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading
with respect to the period covered by the Form 10-K;

 

3.             Based
on my knowledge, all of the distribution and other information required to be provided by the Certificate Administrator under
the Trust and Servicing Agreement for inclusion in the Reports for the period covered by the Form 10-K is included in the Reports
and all of the distribution, servicing and other information provided to the Certificate Administrator by the trustee, the custodian,
the Servicer, the special servicer and the operating advisor under the Trust and Servicing Agreement for inclusion in the Reports
for the period covered by the Form 10-K is included in the Reports;

 

    Exhibit X-3-1

     

    

 

4.             I
(or an officer under my supervision) am responsible for reviewing the activities performed by the Certificate Administrator under
the Trust and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Certificate Administrator
compliance statement required to be delivered under Article XI of the Trust and Servicing Agreement for inclusion in the Form
10-K under Item 1123 of Regulation AB, and except as disclosed in the Reports, the Certificate Administrator has fulfilled its
obligations under the Trust and Servicing Agreement in all material respects; and

 

5.             All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Certificate Administrator
or any Servicing Function Participant retained by the Certificate Administrator (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required to be included
in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as
an exhibit to the Form 10-K. Any material instances of noncompliance described in such reports have been disclosed in the Form
10-K and such assessment of compliance is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Certificate Administrator responsible for reviewing the activities performed
by the Certificate Administrator under the Trust and Servicing Agreement.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	Name:
	 	 	Title:

 

    Exhibit X-3-2

     

    

 

EXHIBIT
X-4

 

Form
of Certification to be Provided

to Depositor by Trustee

 

Natixis
Commercial Mortgage Securities LLC

1251 Avenue of the Americas 

New
York, New York 10020 

Attention:
Margaret Lam

 

		Re:	Natixis
                                         Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass Through Certificates,
                                         Series 2019-NEMA, issued pursuant to the Trust and Servicing Agreement dated as of March
                                         29, 2019 (the “Trust and Servicing Agreement”), among Natixis Commercial
                                         Mortgage Securities LLC, as Depositor, KeyBank National Association, as Servicer, Situs
                                         Holdings, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate
                                         Administrator and Trustee. 

 

I,
[identity of certifying individual], hereby certify, with the knowledge and intent that this Certification will be relied upon
by the applicable Certification Parties (as defined in the Trust and Servicing Agreement) (i) in connection with the certification
concerning the Trust, to be signed by an officer of the Depositor and/or (ii) in connection with the certification concerning
the trust related to an Other Securitization, to be signed by an officer of the Other Depositor, as applicable, and submitted
to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

 

1.             I
(or officers under my supervision) have reviewed the information required to be provided by the Trustee in accordance with the
Trust and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form
10-K”) and all information required to be provided by the Trustee in accordance with the Trust and Servicing Agreement
for inclusion in the reports on Form 10-D and Form 8-K required to be filed in respect of the period covered by the Form 10-K
of the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by the Trustee, collectively,
the “Trustee Periodic Information”);

 

2.             Based
on my knowledge, the Trustee Periodic Information, taken as a whole, does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

    Exhibit X-4-1

     

    

 

3.             Based
on my knowledge, all information required to be provided by the Trustee under the Trust and Servicing Agreement for inclusion
in the Reports for the period covered by the Form 10-K is included in the Trustee Periodic Information;

 

4.             I
(or officers under my supervision) am responsible for reviewing the activities performed by the Trustee under the Trust and Servicing
Agreement, and based on my knowledge and the compliance review conducted in preparing the Trustee’s compliance statement
to be delivered under Article XI of the Trust and Servicing Agreement required for inclusion in the Form 10-K under Item 1123
of Regulation AB, and except as disclosed in the Trustee Periodic Information, the Trustee has fulfilled its obligations under
the Trust and Servicing Agreement in all material respects; and

 

5.             All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Trustee or any
Servicing Function Participant retained by the Trustee (the “Relevant Servicing Criteria”) and their related
attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Trust and Servicing Agreement
to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and
15d-18, have been delivered in accordance with the Trust and Servicing Agreement. All material instances of noncompliance with
the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with servicing criteria
is fairly stated in all material respects.

 

This
Certification is being signed by me as an officer of the Trustee responsible for reviewing the activities performed by the Trustee
under the Trust and Servicing Agreement.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	Name:
	 	 	Title:

 

    Exhibit X-4-2

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