Document:

Exhibit 4.8

 

EXECUTION VERSION

 

 

 

INTERCREDITOR AGREEMENT

Dated as of November 15, 2019

by and between

MORGAN
STANLEY bank, N.A.

(Note A-1 Holder, Note A-2 Holder),

 

MORGAN
STANLEY MORTGAGE CAPITAL HOLDINGS LLC

(Note B-1-A Holder, Note B-1-B Holder, Note
B-1-C Holder, Note B-1-D Holder),

 

BANK OF AMERICA, NATIONAL ASSOCIATION

(Note A-3 Holder, Note A-4 Holder, Note B-2-A Holder, Note B-2-B Holder, Note B-2-C Holder, Note B-2-D Holder),

 

and

 

UBS AG, NEW YORK BRANCH

(Note A-5 Holder, Note A-6 Holder, Note A-7 Holder, Note A-8 Holder, Note B-3-A Holder, Note B-3-B Holder, Note B-3-C Holder, Note
B-3-D Holder)

 

 

 

ILPT Industrial Portfolio

 

 

 

 

 

 

 

    	 

    	 

    

 

This INTERCREDITOR
AGREEMENT (this “Agreement”), dated as of November 15, 2019, by and between MORGAN STANLEY BANK, N.A. (“Morgan
Stanley Bank”), as holder of Note A-1 (in such capacity, together with its successors and assigns, the “Note A-1
Holder”) and Note A-2 (in such capacity, together with its successors and assigns, the “Note A-2 Holder”),
MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC (“MSMCH”), as holder of Note B-1-A (in such capacity, together
with its successors and assigns, the “Note B-1-A Holder”), Note B-1-B (in such capacity, together with its successors
and assigns, the “Note B-1-B Holder”), Note B-1-C (in such capacity, together with its successors and assigns,
the “Note B-1-C Holder”) and Note B-1-D (in such capacity, together with its successors and assigns, the “Note
B-1-D Holder”), BANK OF AMERICA, NATIONAL ASSOCIATION (“BANA”), as holder of Note A-3 (in such
capacity, together with its successors and assigns, the “Note A-3 Holder”), Note A-4 (in such capacity, together
with its successors and assigns, the “Note A-4 Holder”), Note B-2-A (in such capacity, together with its successors
and assigns, the “Note B-2-A Holder”), Note B-2-B (in such capacity, together with its successors and assigns,
the “Note B-2-B Holder”), Note B-2-C (in such capacity, together with its successors and assigns, the “Note
B-2-C Holder”) and Note B-2-D (in such capacity, together with its successors and assigns, the “Note B-2-D Holder”),
and UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York (“UBS AG, New York Branch”),
as holder of Note A-5 (in such capacity, together with its successors and assigns, the “Note A-5 Holder”), Note
A-6 (in such capacity, together with its successors and assigns, the “Note A-6 Holder”), Note A-7 (in such capacity,
together with its successors and assigns, the “Note A-7 Holder”), Note A-8 (in such capacity, together with
its successors and assigns, the “Note A-8 Holder”), Note B-3-A (in such capacity, together with its successors
and assigns, the “Note B-3-A Holder”), Note B-3-B (in such capacity, together with its successors and assigns,
the “Note B-3-B Holder”), Note B-3-C (in such capacity, together with its successors and assigns, the “Note
B-3-C Holder”) and Note B-3-D (in such capacity, together with its successors and assigns, the “Note B-3-D Holder”).

The Note A-1 Holder,
the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder
and the Note A-8 Holder are collectively referred to herein as the “Note A Holders.” The Note B-1-A Holder,
Note B-1-B Holder, Note B-1-C Holder, Note B-1-D Holder, Note B-2-A Holder, Note B-2-B Holder, Note B-2-C Holder, Note B-2-D
Holder, the Note B-3-A Holder, Note B-3-B Holder, Note B-3-C Holder and Note B-3-D Holder are collectively referred to herein as
the “Note B Holders.”

W I T N E S S E T H:

WHEREAS, on October
21, 2019 (the “Origination Date”), Morgan Stanley Bank, BANA and UBS AG, New York Branch, as lenders, made a
mortgage loan in the aggregate original principal amount of $350,000,000 (the “Mortgage Loan”) to The Industrial
Fund St. Louis LLC, The Industrial Fund PA LLC, The Industrial Fund MS LLC, and The Industrial Fund Ankeny LLC, each a Delaware
limited liability company, having an address at Two Newton Place, 255 Washington Street Suite 300, Newton, MA 02458 (individually
or collectively, as the context may require, and together with their respective permitted successors and assigns, the “Mortgage
Loan Borrower”) pursuant to a Loan Agreement dated as of the Origination Date (as amended, supplemented or modified from
time to time, the “Loan Agreement”);

 

	 

    	 

    

 

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

WHEREAS, the Mortgage
Loan is evidenced by: (i) Promissory Note A-1 and Promissory Note A-2, each held by Morgan Stanley Bank in the original principal
amounts set forth on the Mortgage Loan Schedule (as amended, supplemented or modified, “Note A-1” and “Note
A-2,” respectively), (ii) Promissory Note B-1-A, Promissory Note B-1-B, Promissory Note B-1-C and Promissory Note
B-1-D, each held by MSMCH in the original principal amounts set forth on the Mortgage Loan Schedule (as amended, supplemented or
modified, “Note B-1-A,” “Note B-1-B,” “Note B-1-C” and “Note
B-1-D,” respectively), (iii) Promissory Note A-3, Promissory Note A-4, Promissory Note B-2-A, Promissory Note B-2-B,
Promissory Note B-2-C and Promissory Note B-2-D, each held by BANA in the original principal amounts set forth on the Mortgage
Loan Schedule (as amended, supplemented or modified, “Note A-3,” “Note A-4,” “Note B-2-A,”
“Note B-2-B,” “Note B-2-C” and “Note B-2-D,” respectively), and (iv) Promissory
Note A-5, Promissory Note A-6, Promissory Note A-7, Promissory Note A-8, Promissory Note B-3-A, Promissory Note B-3-B,
Promissory Note B-3-C and Promissory Note B-3-D, each held by UBS AG, New York Branch in the original principal amounts set forth
on the Mortgage Loan Schedule (as amended, supplemented or modified, “Note A-5,” “Note A-6,”
“Note A-7,” “Note A-8,” “Note B-3-A,” “Note B-3-B,”
“Note B-3-C” and “Note B-3-D,” respectively).

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

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

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

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

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

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

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shall have the respective
meanings set forth below unless the context clearly requires otherwise. In addition, for so long as the Lead Note A Securitization
Date has not occurred, any capitalized terms defined herein by reference to the Lead Note A PSA or provisions referring to the
operation of the Lead Note A PSA shall be disregarded and have no effect, and this Agreement shall be interpreted without regard
to such provisions.

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

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

“Advance
Rate” shall (a) prior to the Lead Note A Securitization Date, and following the Lead Note A Securitization Date, if no
Note A is included in the Lead Note A Securitization, mean the “Prime Rate” as published in the “Money Rates”
section of the New York City edition of The Wall Street Journal (or, if such section or publication is no longer available,
such other comparable publication as determined by the Servicer in its reasonable discretion) as may be in effect from time to
time, or, if the “Prime Rate” no longer exists, such other comparable rate (as determined by the Servicer in its reasonable
discretion) as may be in effect from time to time, and (b) on and after the Lead Note A Securitization Date, and while any Note
A is included in such Securitization, have the meaning assigned to such term in the Lead Note A PSA.

“Affiliate”
shall mean with respect to any specified Person, (a) any other Person controlling or controlled by or under common control with
such specified Person (each a “Common Control Party”), (b) any other Person owning, directly or indirectly,
twenty-five percent (25%) or more of the beneficial interests in such Person or (c) any other Person in which such Person or a
Common Control Party owns, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests. For the purposes
of this definition, “control” when used with respect to any specified Person means the power to direct the management
and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract, relation
to individuals or otherwise, and the terms “controlling” and “controlled” have meanings correlative to
the foregoing.

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

“Aggregate
Note A Principal Balance” shall mean at any time of determination, the sum of the Note A-1 Principal Balance, the Note
A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note
A-6 Principal Balance, the Note A-7 Principal Balance and the Note A-8 Principal Balance.

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

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

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

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

“Appraisal
Reduction” shall: (x) prior to the Lead Note A Securitization Date, and following the Lead Note A Securitization Date,
if no Note A is included in the Lead Note A Securitization, mean, subject to the delivery of Threshold Event Collateral, as of
any date of determination, an amount equal to the excess, if any, of (A) the sum of (i) the Mortgage Loan Principal Balance on
such date, (ii) to the extent not previously advanced by a Servicer, all accrued and unpaid interest (exclusive of any default
rate interest) on the Mortgage Loan, (iii) without duplication with respect to the items set forth in clauses (i) and (ii) above,
all unreimbursed Advances (and unpaid interest thereon at the Advance Rate) in respect of the Mortgage Loan and (iv) all currently
due and unpaid real estate taxes and assessments, ground rents and insurance premiums (net of escrow payments or other reserve
funds or letters of credit held by a Servicer in respect of such amounts), over (B) (i) the Appraised Value of the Mortgaged Property
plus (ii) the amount of any escrows or reserves held by a Servicer (other than reserves for real estate taxes, ground rents, assessments
and insurance premiums (x) then due and payable, or (y) due and payable in the next three (3) months), letters of credit and other
cash equivalents which may, pursuant to the Mortgage Loan Documents, be used to pay down the principal balance of the Mortgage
Loan, and minus (iii) the amount of any monetary liens (other than liens for items described in clause (A)(iv) above) on the Mortgaged
Property that are prior (and not subordinate) to the lien of the related Mortgage and are not (1) insured over or bonded in accordance
with the Mortgage Loan Documents or (2) assumed in determining the Appraised Value of such Mortgaged Property, and (y) on and after
the Lead Note A Securitization Date, and while any Note A is included in such Securitization, have the meaning assigned to such
term in the Lead Note A PSA.

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

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

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

“Borrower
Party” (i) prior to the Lead Note A Securitization Date, shall mean the Mortgage Loan Borrower, any property manager
or any Affiliate of the foregoing, and (ii) on and

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after the Lead Note
A Securitization Date, shall have the meaning assigned to the term “Borrower Party” or other analogous term in the
Lead Note A PSA; provided that in all cases, the Mortgage Loan Borrower shall be a “Borrower Party”.

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

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

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

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

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

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

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

A “Control
Appraisal Event” shall exist with respect to the Subordinate Notes, if and for so long as:

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

is less than

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

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

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

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

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

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

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

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

“Defaulted
Mortgage Loan” shall have the meaning given to the term “Defaulted Loan” (or other analogous term) in the
Servicing Agreement.

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

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

“Directing
Note B Holder” shall mean the Note B-1-A Holder; provided, that the Directing Note B Holder may at any time assign
such role to a different Note B Holder (that is not a Borrower Party) by notifying the Note A Holders and the Servicer of such
assignment. Subject to the terms of the applicable Servicing Agreement, the Directing Note B Holder may designate, in writing,
a representative (that is not a Borrower Party) to exercise its rights and powers under this Agreement by notifying the Note A
Holders and the Servicer of such appointment. Such appointment shall remain in effect until it is revoked by the Directing Note
B Holder by a writing delivered to the Note A Holders and the Servicer. The parties hereto acknowledge and agree that

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as of the date hereof,
the Directing Note B Holder has appointed Prima to be the representative of the Directing Note B Holder.

“Eligibility
Requirements” means, with respect to any Person, that such Person (i) has total assets (in name or under management)
in excess of $600,000,000 (including unpledged, uncalled irrevocable capital commitments that are unconditionally available to
be called by such Person as cash capital contributions to such Person subject only to customary conditions such as minimum advance
notice) and (except with respect to a pension advisory firm or similar fiduciary) capital/statutory surplus or shareholder’s
equity of at least $200,000,000 (including unpledged, uncalled irrevocable capital commitments that are unconditionally available
to be called by such Person as cash capital contributions to such Person subject only to customary conditions such as minimum advance
notice) and (ii) is regularly engaged in the business of making or owning commercial real estate loans (or interests therein,
including mezzanine loans with respect to commercial real estate) or owning or operating commercial real estate properties (or
interests therein).

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

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

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

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

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

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

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

“Initial
Note A-1 Holder” and “Initial Note A-2 Holder” shall each mean Morgan Stanley Bank.

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“Initial
Note A-3 Holder,” “Initial Note A-4 Holder”, “Initial Note B-2-A Holder”, “Initial
Note B-2-B Holder”, “Initial Note B-2-C Holder” and “Initial Note B-2-D Holder”
shall each mean BANA.

“Initial
Note A-5 Holder,” “Initial Note A-6 Holder,” “Initial Note A-7 Holder,” “Initial
Note A-8 Holder”, “Initial Note B-3-A Holder”, “Initial Note B-3-B Holder”, “Initial
Note B-3-C Holder” and “Initial Note B-3-D Holder” shall each mean UBS AG, New York Branch.

“Initial
Note B-1-A Holder”, “Initial Note B-1-B Holder”, “Initial Note B-1-C Holder” and
“Initial Note B-1-D Holder” shall each mean MSMCH.

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

“Initial
Note Holder” shall mean any Initial Note A Holder or Initial Note B Holder.

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

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

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

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

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

“Lead Note
A” shall mean Note A-1.

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

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

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

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

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“Liquidation
Fee” shall have the meaning assigned to such term or other analogous term in the Lead Note A PSA; provided, that in no
event shall the Liquidation Fee rate payable with respect to the Mortgage Loan exceed 0.5% per annum.

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

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

“Major Decision”
shall have the meaning given to such term (or other analogous term) in the Servicing Agreement with, for so long as no Control
Appraisal Event has occurred and is continuing, the addition of the following action:

if the Mortgaged
Property is an REO Property, approval of operating and business plans or asset sale and disposition plans of such Foreclosed Property
(including incurring financing, restructuring or refinancing debt, engaging or replacing any property manager or leasing agent,
decisions with respect to operating and capital expenses, etc.);

provided, that if
the term “Major Decision” (or other analogous term) is not defined in the Servicing Agreement, such term shall mean
any of the following actions:

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

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

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

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

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

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

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

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

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

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

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

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

(xiii)       any
modification or waiver of any provision of the Mortgage Loan Documents governing the type, nature or amount of insurance coverage
required to be obtained and maintained by the Mortgage Loan Borrower;

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(xiv)       taking
(or any forbearance by the Servicer from taking) any enforcement action with respect to (A) any failure by the Mortgage Loan Borrower
to maintain with respect to the Mortgaged Property specific insurance coverage with respect to, or an all-risk casualty insurance
policy that does not specifically exclude, terrorist or similar acts, and/or (B) any failure on the part of the Mortgage Loan Borrower
to maintain with respect to the Mortgaged Property insurance coverage with respect to damages or casualties caused by terrorist
or similar acts upon terms not materially less favorable than those in place as of the origination date;

(xv)       the
determination of any use of proceeds of a hazard insurance claim to restore the Mortgaged Property if the amount of such proceeds
exceeds the Restoration Threshold (as defined in the Loan Agreement);

(xvi)       approval
of casualty or condemnation settlements, any determination to apply casualty or condemnation proceeds or awards to the reduction
of the Mortgage Loan debt rather than to Mortgaged Property restoration, in each case, to the extent lender consent is required
under the Mortgage Loan Documents;

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

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

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

(xx)       any
change in the standards contained in the Mortgage Loan Documents for alterations, construction of improvements, leasing, material
agreement and budget approvals, if any, to the extent that the consent of the lender is required for any such matter;

(xxi)       approval
of any proposed alterations to the extent lender approval is required under the Mortgage Loan Documents;

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(xxii)       the
approval of, engagement or retention of any property improvement plan consultant and the approval of any work or reserve estimates
by any property improvement plan consultant, in each case, to the extent lender consent is required under the Mortgage Loan Documents;

(xxiii)       any
enforcement of any cure right or the exercise of any remedies against any property manager under any management agreement and any
subordination and non-disturbance, comfort letter, recognition agreement or similar agreement related thereto;

(xxiv)       any
waiver of a covenant of the Mortgage Loan Borrower relating to maintaining its status as a Special Purpose Entity, to the extent
the consent of the lender is required for any such waiver;

(xxv)       if
the Mortgaged Property is an REO Property, approval of operating and business plans or asset sale and disposition plans of such
Foreclosed Property (including incurring financing, restructuring or refinancing debt, engaging or replacing any property manager
or leasing agent, decisions with respect to operating and capital expenses, etc.);

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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withhold taxes; provided, that duly executed form(s) provided
to the Servicer pursuant to Section 33(c) hereof shall be sufficient to evidence that such providing Holder is not a Non-Exempt
Person or liability for withholding.

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

“Non-Lead
Note A Holder” means any Holder of a Note A (other than any Note A included in the Lead Note A Securitization).

“Non-Lead
Note A PSA” shall mean after a Securitization of a Note A (other than any Note A included in the Lead Note A Securitization),
the pooling and servicing agreement governing the related securitization trust.

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

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

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

“Note A”
shall mean any of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 and Note A-8.

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

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

“Note A Holder
Advance” shall mean any monthly debt service payment advance or any property advance or other servicing advance by the
Lead Note A Holder (or the Master Servicer or Trustee on its behalf), any Non-Lead A Holder (or a Non-Lead Master Servicer or Non-Lead
Trustee on its behalf) with respect to any Note A, the Mortgage Loan or the Mortgaged Property.

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

“Note A-1,”
“Note A-2,” “Note A-3,” “Note A-4,” “Note A-5,” “Note
A-6,” “Note A-7” and “Note A-8” shall each have the meaning assigned to such
term in the recitals.

“Note A-1
Holder,” “Note A-2 Holder,” “Note A-3 Holder,” “Note A-4 Holder,”
“Note A-5 Holder,” “Note A-6 Holder,” “Note A-7 Holder” and “Note
A-8 Holder” shall each have the meaning assigned to such term in the preamble.

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

“Note B”
shall mean any of Note B-1-A, Note B-1-B, Note B-1-C, Note B-1-D, Note B-2-A, Note B-2-B, Note B-2-C, Note B-2-D, Note B-3-A, Note
B-3-B, Note B-3-C and Note B-3-D.

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

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

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

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

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

“Note B-1-A,”
“Note B-1-B,” “Note B-1-C,” “Note B-1-D,” “Note B-2-A,”
“Note B-2-B,” “Note B-2-C,” “Note B-2-D,” “Note B-3-A,”
“Note B-3-B,” “Note B-3-C” and “Note B-3-D” shall each have the meaning
assigned to such term in the recitals.

“Note B-1-A
Holder,” “Note B-1-B Holder,” “Note B-1-C Holder,” “Note B-1-D
Holder,” “Note B-2-A Holder,” “Note B-2-B Holder,” “Note B-2-C
Holder,” “Note B-2-D Holder,” “Note B-3-A Holder,” “Note B-3-B
Holder,” “Note B-3-C Holder” and “Note B-3-D Holder” shall each have
the meaning assigned to such term in the preamble.

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

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

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

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

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

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“Percentage
Interest” shall mean, as of any date, (i) with respect to the Note A Holders, collectively, the Note A Percentage
Interest, (ii) with respect to the Note B Holders, collectively, the Aggregate Note B Percentage Interest, (iii) with respect to
any Note A Holder, the ratio of the Principal Balance of its Note A to the Mortgage Loan Principal Balance, and (iv) with respect
to any Note B Holder, the ratio of the Principal Balance of its Note B to the Mortgage Loan Principal Balance.

“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i)(a) one of the entities listed on Exhibit
B, or the successor-in-interest thereto or a Person Controlling, Controlled by or under Common Control with, any such entity, or
any other nationally-recognized manager of investment funds investing in debt or equity interests relating to commercial real estate
or (b) an entity that is otherwise a Qualified Institutional Lender under clauses (a), (b), (c) or (d)
of the definition thereof, (ii) investing through a fund with committed capital of at least $250,000,000 and (iii) not subject
to a proceeding or other action, whether voluntary or involuntary, of any case arising under any existing or future law of any
jurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors.

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

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

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

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

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

“Prima Qualified
Transferee” shall mean any fund or Person directly or indirectly managed by Prima Capital Advisors LLC, provided that
such fund or Person has total assets (in name or under management or advisement) in excess of $225,000,000.00 (including unpledged,
uncalled irrevocable capital commitments that are unconditionally available to be called by such Person as cash capital contributions
to such Person subject only to customary conditions such as minimum advance notice) and (except with respect to a pension advisory
firm, asset manager, registered investment advisor or similar fiduciary) has capital/statutory surplus or shareholder’s equity
of at least $150,000,000.00 (including unpledged, uncalled irrevocable capital commitments that are unconditionally available to
be called by such Person as cash capital contributions to such Person subject only to customary conditions such as minimum advance
notice).

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“Principal
Balance” shall mean, at any time of determination, (i) with respect to the Senior Notes, collectively, the Aggregate
Note A Principal Balance, (ii) with respect to the Subordinate Notes, collectively, the Aggregate Note B Principal Balance, (iii)
with respect to any Note A, the Closing Date Principal Balance thereof set forth in the Mortgage Loan Schedule, less (x) any payments
of principal thereon received by the related Note A Holder and (y) any reductions in such amount pursuant to Section 6
hereof, and (iv) with respect to any Note B, the Closing Date Principal Balance thereof set forth in the Mortgage Loan Schedule,
less (x) any payments of principal thereon received by the related Note B Holder and (y) any reductions in such amount pursuant
to Section 6 hereof.

“Purchase
Option Notice” shall have the meaning assigned to such term in Section 9(a) hereof.

“Purchase
Option Cut-Off Date” shall mean the earliest date to occur of (1) ninety (90) days after delivery to the Directing
Note B Holder of the Purchase Option Notice, (2) the cure of the event or circumstance resulting in the Mortgage Loan being a Defaulted
Mortgage Loan, (3) the consummation of a foreclosure sale, sale by power of sale or delivery of a deed in lieu of foreclosure with
respect to the Mortgaged Property, except that if the Servicer intends to accept a deed in lieu of foreclosure, it shall notify
the Note B Holders, and the Directing Note B Holder shall have the option, within ten (10) Business Days from the date of receipt
of notice to such effect, to deliver a Note B Holder Purchase Notice to the Lead Note A Holder (on behalf of all the Note A Holders)
and, provided that such notice has been delivered within such time period, to consummate the purchase within thirty (30) days
after such purchase notice is so delivered, and (4) the modification of the Mortgage Loan Documents effected in accordance herewith
and with the terms of the Servicing Agreement (and subject to the approval rights of the Controlling Holder set forth herein and
therein).

“Purchase
Option Price” shall mean, with respect to each Note A, the sum of the following, without duplication: (i) the Principal
Balance of such Note (as of the date of purchase), (ii) accrued and unpaid interest on the Principal Balance of such Note
at the Interest Rate applicable to such Note, up to (but excluding) the date of purchase (or, if such Note has been deposited into
a Securitization, if such date of purchase is not a Payment Date, up to (but excluding) the Payment Date next succeeding the date
of purchase), provided payment is made in good funds by 3:00 p.m. New York local time, (iii) any unreimbursed Note A
Holder Advances made by or on behalf of the Holder of such Note and interest thereon at the Advance Rate, (iv) any accrued
and unpaid Servicing Fees, (v) any Special Servicing Fees and Liquidation Fees (but excluding any such Liquidation Fees if such
Note is purchased within 90 days of the purchasing Holder’s receipt of the applicable Purchase Option Notice (provided,
that if any Purchase Option Notices is delivered following a prior Purchase Option Notice, such 90 day period shall commence on
the date of the subsequent Purchase Option Notice as long as the event that resulted in the prior Purchase Option Notice has, within
the 90 day period following such prior Purchase Option Notice, ceased, been cured, been waived by the Servicer in writing, or otherwise
is no longer in effect)) and (vi) any unreimbursed Costs incurred by the Holder of such Note. In determining the Purchase
Option Price, amounts payable by the Mortgage Loan Borrower as a Prepayment Premium, default interest, Penalty Charges and other
similar fees and the value of such amounts shall not be included; provided, that such amounts shall be included if the Person
exercising the purchase option is a Borrower Party.

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

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

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

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

(d)       the
Conduit Credit Enhancer and the Conduit agree that, if such Holder defaults under the Conduit Inventory Loan, or if the Conduit
is unable to refinance its outstanding commercial paper even if there is no default by such Holder, the Conduit Credit Enhancer
will purchase the Conduit Inventory Loan from the Conduit, and the Conduit will assign the pledge of such Holder’s interest
in such Note to the Conduit Credit Enhancer, and unless the Conduit is in fact then a Qualified Institutional Lender, the Conduit
will not, without obtaining the written consent of each other Holder, have any greater right to acquire the interests in such Note
pledged by such Holder, by foreclosure or otherwise, than would any other purchaser that is not a Qualified Institutional Lender
at a foreclosure sale conducted by a Pledgee.

“Qualified
Institutional Lender” means (i) each Initial Note A Holder, (ii) each Initial Note B Holder, (iii) Prima Mortgage Investment
Trust (“Prima”), (iv) New York State Teachers’ Retirement System (“NYSTRS”), (v) any
Prima Qualified Transferee, (vi) any Affiliate that is Controlled by any Person referred to in clauses (iii) through (v)
above, and (vii) any one or more of the following (other than a Borrower Party):

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

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

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

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

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

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

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

“Qualified
Servicer” shall mean (i) any nationally recognized commercial mortgage loan servicer (A) that is rated at least “CMS3”
(in the case of a master servicer) or “CSS3” (in the case of a special servicer), by Fitch; (B) that appears on the
S&P Select Servicer List as a U.S. Commercial Mortgage Master Servicer, in the case of a master servicer, and the S&P Select
Servicer List as a U.S. Commercial Mortgage Special Servicer, in the case of a special servicer; (C) in the case of Moody’s,
(1) that confirms in writing that it was appointed to act as, and currently serves as, master servicer or special servicer, as
applicable, on a transaction-level basis on the closing date of a commercial mortgage loan securitization with respect to which
Moody’s rated one or more classes of certificates and one or more of such classes of certificates are still outstanding and
rated by Moody’s, and (2) Moody’s has not cited servicing concerns with respect to such servicer as the sole or a material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities rated by Moody’s in any other commercial mortgage-backed securities transaction
serviced by such servicer prior to the time of determination; (D) in the case of Morningstar, that has a ranking by Morningstar
equal to or higher than “MOR CS3” as a master servicer or special servicer, as applicable, provided that if Morningstar
has not issued a ranking with respect to such servicer, such servicer is acting as master servicer or special servicer in a commercial
mortgage loan securitization that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination,
and Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed
any

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class of commercial
mortgage securities on watch citing the continuation of such servicer as master servicer or special servicer, as applicable, of
such commercial mortgage securities; (E) in the case of KBRA, (1) that is acting as master servicer or special servicer, as applicable,
in a commercial mortgage loan securitization that was rated by KBRA within the twelve (12) month period prior to the date of determination
that has not been downgraded or caused the withdrawal of the then current rating on any class of commercial mortgage securities
or placement of any class of commercial mortgage securities on watch citing the continuation of such servicer, as master servicer
or special servicer, as applicable, of such commercial mortgage securities, as the sole or a material reason for such downgrade
or withdrawal (or placement on watch) or (2) that has not acted as master servicer or special servicer, as applicable, in a commercial
mortgage loan securitization that was rated by KBRA in such twelve (12) month period but has received a Rating Agency Confirmation
from KBRA; and (F) in the case of DBRS, that is currently acting as master servicer or special servicer, as applicable, in a CMBS
transaction rated by DBRS (as to which CMBS transaction there are outstanding CMBS rated by DBRS) and that has not been cited by
DBRS as having servicing concerns that are 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 a CMBS transaction
serviced by such servicer prior to the time of determination.

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

“Rating Agencies”
shall mean S&P, Moody’s, Fitch, KBRA, DBRS and Morningstar; provided, that at any time during which any Note A
is an asset of a Securitization, “Rating Agencies” shall mean the rating agencies that from time to time rate the securities
issued in connection with such Securitization.

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

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

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

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

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

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

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

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

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

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

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

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

“Servicing
Fee Rate” (i) prior to the Lead Note A Securitization Date, shall mean the rate per annum at which the “Servicing
Fee” (or other analogous term as defined in the Interim

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

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

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

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

“Special
Servicing Fee” shall have the meaning assigned to such term or other analogous term in the Lead Note A PSA; provided,
that in no event shall the Special Servicing Fee rate payable with respect to the Mortgage Loan exceed 0.25% per annum.

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

“Subordinate
Notes” shall mean Note B-1-A, Note B-1-B, Note B-1-C, Note B-1-D, Note B-2-A, Note B-2-B, Note B-2-C, Note B-2-D,
Note B-3-A, Note B-3-B, Note B-3-C and Note B-3-D, collectively.

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

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

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

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

“Triggering
Event of Default” shall mean (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to
pay money due under the Mortgage Loan or (ii) so long as any Note A is included in a Securitization (and only on and after the
Lead Note A Securitization Date) any non-monetary Event of Default (other than any imminent Event of Default) resulting in the
Mortgage Loan becoming a Specially Serviced Mortgage Loan. A Triggering Event of Default shall not exist if the Directing Note
B Holder is exercising its cure

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rights in accordance
with Section 10 of this Agreement and the applicable cure period has not expired.

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

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

“UBS AG,
New York Branch” shall have the meaning assigned to such term in the preamble.

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

“Workout
Fee” shall have the meaning assigned to such term or other analogous term in the Lead Note A PSA; provided, that in no
event shall the Workout Fee rate payable with respect to the Mortgage Loan exceed 0.5% per annum. The Workout Fee with respect
to the Mortgage Loan shall cease to be payable if the Mortgage Loan subsequently becomes a Specially Serviced Mortgage Loan or
if the Mortgaged Property becomes an REO Property. If the Mortgage Loan thereafter ceases to be a Specially Serviced Mortgage Loan,
a new Workout Fee shall be payable to the applicable Servicer that is responsible for servicing the Mortgage Loan, subject to the
qualification in the preceding sentence.

2.       Administration
of the Mortgage Loan Generally.

(a)       From
and after the date hereof, administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement;
provided, that (i) the rights and remedies of each Note B Holder under the Servicing Agreement shall not be materially worse
than, and the Servicing Agreement shall not materially impair, the rights and remedies of such Note B Holder set forth herein (and
any obligations of a Note B Holder under the Servicing Agreement shall not be materially greater than, nor shall the Servicing
Agreement create obligations that are materially greater than, the obligations of such Note B Holder set forth herein), (ii) the
provisions of the Servicing Agreement as they relate to the rights and obligations of Note B Holders may differ from those in this
Agreement to the extent requested by the Rating Agencies, subordinate bond buyers or any of the other parties to the Servicing
Agreement and may differ to the extent necessary in order for the Note A Holders and their Affiliates to obtain accounting “sale”
treatment for the Senior Notes under FAS 140; provided, that in all cases, any such differences shall not have a material
adverse effect on any of the rights, remedies or protections granted to the Holders under this Agreement (without giving effect
to any provision of this Agreement that states that a term shall have “the meaning assigned to such term in the

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Servicing Agreement,”
or be “subject to the Servicing Agreement” or similar phrases); and (iii) the Servicing Agreement shall not be amended
or modified in any manner materially adverse to a Note B Holder or in any manner that adversely affects such Holder’s rights
under this Agreement or under the Mortgage Loan Documents without the prior written consent of such Holder. The Lead Note A Holder
shall have the right to appoint any Master Servicer in accordance with the terms of the Servicing Agreement. The Controlling Holder
shall have the right from and after the date of this Agreement to appoint the Special Servicer with respect to the Mortgage Loan
in accordance with the terms of this Agreement.

(b)       Following
the Lead Note A Securitization Date, if at any time Lead Note A ceases to be an asset of the Trust, the Lead Note A Holder shall
cause the Mortgage Loan to be serviced for the benefit of all Holders pursuant to a servicing agreement that has been agreed upon
by the Holders, and that is substantially similar to the servicing provisions of the Lead Note A PSA, and all references herein
to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, that until a replacement
servicing agreement has been entered into, the Lead Note A Holder shall cause the Mortgage Loan to be serviced for the benefit
of all Holders pursuant to the provisions of the Lead Note A PSA as if such agreement were still in full force and effect with
respect to the Mortgage Loan; provided, further, that until a replacement servicing agreement is in place, the actual
servicing of the Mortgage Loan may be performed by any Qualified Servicer appointed by the Lead Note A Holder and does not have
to be performed by the servicers under the Lead Note A PSA. Consent of the Note B Holders to any replacement Servicing Agreement
proposed by the Lead Note A Holder shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the
contrary contained herein (including Sections 5, 19 and 20(a) hereof), in accordance with the Servicing Agreement,
the Servicer shall be required to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into
account the interests of each Holder (unless such Holder is a Borrower Party), with a view to maximizing the realization for all
such Holders as a collective whole (it being understood that the interests of the Note B Holders are junior interests subject to
the terms and conditions of this Agreement). Each Holder that is not a Borrower Party shall be deemed a third party beneficiary
of such provisions of the Servicing Agreement.

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

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

(e)       Prior
to the Lead Note A Securitization Date, the Servicer shall be entitled to the Servicing Fee, and the engagement of Servicer for
any Special Services (as such term or other analogous term is defined in the Interim Servicing Agreement), and the fees therefor,
shall

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

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

(g)       Each
Non-Lead Note A Holder (including, but not limited to, any Non-Lead Trust into which such Non-Lead Note A is deposited) shall,
promptly following notice from the Master Servicer, the Special Servicer or the Trustee, pay or reimburse the Lead Note A Securitization
for such Non-Lead Note A Holder’s pro rata share (on a pro rata and pari passu basis) of the portion allocated to the Senior
Notes of any fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan as to which
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Depositor or CREFC®, as applicable,
is entitled to be reimbursed pursuant to the Lead Note A PSA and any costs, fees and expenses related to obtaining any Rating Agency
Confirmation, to the extent amounts on deposit in the Collection Account are insufficient for reimbursement of such amounts and
after allocation of such amounts first to the Subordinate Notes (on a pro rata and pari passu basis). In addition to the reimbursement
obligations with respect to Advances (and Advance Interest) otherwise provided for in this Agreement, each Non-Lead Note A Holder
agrees to indemnify (as and to the same extent the Trust is required to indemnify each of the following parties pursuant to the
terms of the Lead Note A PSA) each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and
the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified
as indemnified parties in the Lead Note A PSA) (the “Indemnified Parties”) against

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any claims,
losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses
incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property under the Lead Note
A PSA (collectively, the “Indemnified Items”) to the extent of its pro rata share (on a pro rata and pari passu
basis) of the portion allocated to the Senior Notes of such Indemnified Items, and to the extent amounts on deposit in the Collection
Account are insufficient for reimbursement of such amounts and after allocation of such amounts first to the Subordinate Notes
(on a pro rata and pari passu basis), each Non-Lead Note A Holder shall, promptly following notice from the Master Servicer, the
Special Servicer, the Certificate Administrator or the Trustee, reimburse each of the applicable Indemnified Parties for such pro
rata share (including, if a Non-Lead Note A has been included in a Non-Lead Trust, from general collections or any other amounts
from the related Non-Lead Trust).

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

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

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

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

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

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

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

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

(h)       eighth,
pro rata, to each Holder, its Percentage Interest (prior to the application of funds contemplated in this Section 3)
of any Prepayment Premium, in each case, to the extent actually paid by the Mortgage Loan Borrower;

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

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

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

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

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

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

(c)       third,
to the Note A Holders, on a pro rata and pari passu basis, in an amount equal to the accrued and unpaid interest on the Aggregate
Note A Principal Balance at the Note A Net Interest Rate;

(d)       fourth,
to the Note A Holders, on a pro rata and pari passu basis, until the Principal Balance of each Note A has been paid in full;

(e)       fifth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(d), to the Note A Holders, on a pro rata and pari passu

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basis, in an
amount equal to the aggregate of unreimbursed Realized Principal Losses previously allocated to the Note A Holders in accordance
with the terms of Section 6 or Section 7, plus interest thereon at the Note A Net Interest Rate compounded
monthly from the date the related Realized Principal Loss was allocated to the Senior Notes;

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

(g)       seventh,
to the Note B Holders, on a pro rata and pari passu basis, in an amount equal to the accrued and unpaid interest on the Aggregate
Note B Principal Balance at the Note B Net Interest Rate;

(h)       eighth,
to the Note B Holders, on a pro rata and pari passu basis, until the Aggregate Note B Principal Balance has been paid in full;

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

(j)       tenth,
any interest accrued at the Mortgage Loan Default Rate on the Mortgage Loan Principal Balance to the extent such default interest
amount is (i) actually paid by the Mortgage Loan Borrower and (ii) in excess of interest accrued on the Mortgage Loan Principal
Balance at the Mortgage Interest Rate, (x) first, to the Note A Holders (subject to the allocation of such amount pursuant
to the terms of the Servicing Agreement), on a pro rata and pari passu basis according to their entitlements, in an amount calculated
on the Aggregate Note A Principal Balance on such Payment Date prior to the application of funds contemplated in this Section
4 at the excess of (A) the Note A Default Interest Rate over (B) the Note A Interest Rate, and (y) second, to the Note
B Holders, on a pro rata and pari passu basis according to their entitlements, in an amount calculated on the Aggregate Note B
Principal Balance on such Payment Date prior to the application of funds contemplated in this Section 4 at the excess of
(A) the Note B Default Interest Rate over (B) the Note B Interest Rate

(k)       eleventh,
pro rata, to each Holder, its Percentage Interest (prior to the application of funds contemplated in this Section 4)
of any Prepayment Premium, in each case, to the extent actually paid by the Mortgage Loan Borrower;

(l)       twelfth,
pro rata, to the extent not payable to any Servicer as Additional Servicing Compensation, to each Holder, its Percentage
Interest (prior to the application of funds contemplated in this Section 4) of any extension fees, assumption fees and Penalty
Charges, in each case, to the extent actually paid by the Mortgage Loan Borrower; and

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

5.       Priority
of Payments to Note A Holders; Priority of Payments to Note B Holders. As between each Note A, each such Note A shall be of
equal priority, and no portion of any Note A shall have priority or preference over any portion of any other Note A or security
therefor. All amounts allocable to the Senior Notes or the Note A Holders pursuant to Section 3 or Section 4, including
any Appraisal Reductions and Realized Principal Losses, shall be applied by the Servicer to each Note A or Note A Holder, as applicable,
on a pro rata and pari passu basis. As between each Note B, each such Note B shall be of equal priority, and no portion of any
Note B shall have priority or preference over any portion of any other Note B or security therefor. All amounts allocable
to the Subordinate Notes or the Note B Holders pursuant to Section 3 or Section 4, including any Appraisal Reductions
and Realized Principal Losses, shall be applied by the Servicer to each Note B or Note B Holder, as applicable, on a pro rata and
pari passu basis.

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

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7.       Collection
Accounts; Payment Procedure. Pursuant to the terms of the Servicing Agreement, the Lead Note A Holder shall cause the Servicer
(and, after the Lead Note A Securitization Date, the Master Servicer) to establish and maintain the Collection Account or
Collection Accounts, as applicable. Each Holder hereby directs the Master Servicer, in accordance with the priorities set forth
in Section 3, Section 4 or Section 5 hereof, as applicable, and subject to the terms of the Servicing Agreement
and this Agreement (which shall control to the extent set forth herein in the event of any conflict between the Servicing Agreement
and this Agreement), (i) to deposit into the applicable Collection Account within one Business Day of receipt of properly identified
funds all payments received with respect to the Mortgage Loan (provided, that to the extent that any payment is received after
2:00 p.m. (Eastern time) on any given Business Day, the Master Servicer is required to use commercially reasonable efforts to deposit
such payments into the Collection Account within one (1) Business Day of receipt of such payments but, in any event, the Master
Servicer is required to deposit such payments into the applicable Collection Account within two (2) Business Days of receipt of
such payments) and (ii) to remit from the applicable Collection Account for deposit or credit on each Servicer Remittance Date
all payments of any kind received with respect to and allocable to each Note, by wire transfer to accounts maintained by each Holder
and designated to the Servicer in writing. Amounts on deposit in the Collection Account shall be applied at the times and for the
purposes specified in the Servicing Agreement. If the Servicer holding or having distributed any amount received or collected in
respect of any Note determines, or a court of competent jurisdiction orders, at any time that any amount received or collected
in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned
to the Mortgage Loan Borrower or paid to another Holder, the Servicer or any other Person, then, notwithstanding any other provision
of this Agreement, the Servicer shall not be required to distribute any portion thereof to the Holder of such Note, and such Holder,
as applicable, shall promptly on demand repay to the Servicer the portion thereof which shall have been theretofore distributed
to such Holder together with interest thereon at such rate, if any, as the Servicer shall have been required to pay to the Mortgage
Loan Borrower, another Holder, the Servicer or such other Person with respect thereto, or, if the amount in question had been advanced
by the Servicer, then with interest thereon at the Advance Rate. Each Holder agrees that if at any time it shall receive from any
sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it shall promptly
remit such excess to the Servicer. The Servicer shall have the right to offset any amounts due hereunder from a Holder, as applicable,
with respect to the Mortgage Loan against any future payments due to such Holder under the Mortgage Loan, provided, that the obligations
of each Holder under this Section 7 are separate and distinct obligations from one another and in no event shall the Servicer
enforce the obligations of one Holder against another Holder. The obligations of each Holder under this Section 7 constitute
absolute, unconditional and continuing obligations and the Servicer shall be deemed a third party beneficiary of these provisions.

The Servicer shall
distribute (or cause to be distributed) to the Holders all payments due to the Holders in accordance with Section 3, Section 4
and Section 5 hereof; provided, that prior to calculating any amount of interest or principal due on such date
to the Holders, the Servicer shall reduce the Aggregate Note B Principal Balance (not below zero) by any Realized Principal Loss
with respect to the Mortgage Loan (which such amount shall be applied to reduce the Principal Balances of the Subordinate Notes
on a pro rata and pari passu basis), and after the Aggregate Note B Principal Balance has been reduced to zero, the Servicer shall
reduce (not below

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zero) the Principal
Balances of Senior Notes, on a pro rata and pari passu basis, by any remaining Realized Principal Loss with respect to the Mortgage
Loan.

8.       Advances.

(a)       Prior
to the Lead Note A Securitization Date, if the Lead Note A Holder (or the Servicer on its behalf) elects, in its reasonable good
faith discretion and in accordance with the Servicing Standard, to make a Note A Holder Advance, the Lead Note A Holder shall notify
the Note B Holders promptly, which notice shall set forth the amount of the additional funds required, the date such funds are
required and a summary of the need for such advance. The Directing Note B Holder shall have the right to advance on or before the
date specified in the related notice its pro rata share of any such that relates to Note B, determined based upon the Aggregate
Note B Percentage Interest. If the Directing Note B Holder fails or refuses to advance the foregoing share of such Note A Holder
Advance, the Lead Note A Holder shall have the right to advance the portion of the Note A Holder Advance not advanced by the Directing
Note B Holder. Repayment of any and all such Advances made by any Note A Holder and/or Note B Holder together with interest
thereon at the Advance Rate, if applicable, shall be paid to the Holders as provided in Section 3 and Section 4 hereof.

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

(c)       (i)
Prior to the Lead Note A Securitization Date, no monthly debt service payment Advances shall be made with respect to Note A or
Note B, and (ii) from and after the Lead Note A Securitization Date, no monthly debt service payment Advance shall be made with
respect to Note B.

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

9.       Limitation
on Liability. Subject to Section 20(e) hereof and the terms of the Servicing Agreement, no Holder shall have any liability
to any other Holder with respect to such other Holder’s Note, except with respect to losses actually suffered due to the
bad faith, gross

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negligence, willful
misconduct or breach of this Agreement on the part of such Holder; provided, that nothing herein shall be deemed to contravene
any provisions relating to liability of the Servicer or the Trustee under the Servicing Agreement. No Holder shall have any fiduciary
responsibilities to any other Holder.

10.       Note
Purchase Option; Cure Rights

(a)       If
the Mortgage Loan becomes and remains a Defaulted Mortgage Loan, upon written notice from the Lead Note A Holder (a “Purchase
Option Notice”) of such occurrence (which notice the Servicer shall give to the Note B Holders), the Directing Note
B Holder shall have the right, subject to the last sentence of this Section 10(a), by written notice to the Lead Note A
Holder (a “Note B Holder Purchase Notice”), given prior to the Purchase Option Cut-Off Date to purchase each
Note A (for its own account or for the account of another Note B Holder) at the related Purchase Option Price.

In the case of an
exercise of the purchase option by the Directing Note B Holder, upon the delivery of the Note B Holder Purchase Notice to the Lead
Note A Holder, the Note A Holders shall sell (and the Directing Note B Holder shall purchase) each Note A (without recourse or
warranty, except that such selling Holder shall represent and warrant that it owns 100% of the economic and beneficial interests
in its respective Note free and clear of liens, encumbrances and any participations therein) at the related Purchase Option Price
on a date not less than five (5) Business Days nor more than thirty (30) days after the date of the Note B Holder Purchase Notice
on a date mutually designated by the Directing Note B Holder and such selling Holder. If the Directing Note B Holder timely exercises
the purchase option, the period during which the Directing Note B Holder is required to consummate such purchase shall be extended
by an additional 30 days upon delivery to the Lead Note A Holder prior to the expiration of such initial period of a non-refundable
(unless the Note A Holders do not or unable to transfer each Note A as provided above) cash deposit in an amount equal to 5% of
the Purchase Option Price, which cash deposit shall be applied to the Purchase Option Price at the closing of the purchase. The
Directing Note B Holder shall also pay all reasonable out-of-pocket costs and expenses of the Lead Note A Holder (and the Servicer
or Trustee on its behalf) in connection with such purchase.

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

The right of the
Directing Note B Holder to exercise the purchase option hereunder shall automatically terminate upon the related Purchase Option
Cut-Off Date, subject to the possibility that such right will be reinstated after the occurrence of the events described in clauses
(2) or (4) in the definition of “Purchase Option Cut-Off Date” if another event which causes the Mortgage
Loan to become a Defaulted Mortgage Loan subsequently occurs. Upon the consummation of a sale pursuant to the purchase option contemplated
by this Section 10(a), each Note A Holder (or the Servicer or Trustee on its behalf) shall deliver all original Mortgage
Loan Documents and other applicable materials in its possession to the Directing Note B Holder. Notwithstanding the foregoing,
if a Borrower Party holds any interest in the Directing Note B Holder’s Note B, the

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purchase option set
forth in this Section 10(a) shall be exercisable by the remainder, if any, of the interest in such Note B that is not
so held.

(b)       The
Directing Note B Holder (provided that such Holder is not a Borrower Party) shall have the right (but not the obligation) to cure
a monetary Event of Default or a non-monetary Event of Default; provided, that if such Holder elects to cure any Event of
Default, the Event of Default must be cured, in the case of a monetary Event of Default, within ten (10) Business Days following
receipt of the first notice of such Event of Default, and in the case of a non-monetary Event of Default, thirty (30) days following
receipt of the first notice of such Event of Default; provided if such non-monetary Event of Default is susceptible of cure
but cannot reasonably be cured within such period and if curative action was promptly commenced and is being diligently pursued
by the Directing Note B Holder, the Directing Note B Holder shall be given an additional period of time as reasonably necessary
to enable the Directing Note B Holder in the exercise of due diligence to cure such non-monetary Event of Default for so long as
(i) the Directing Note B Holder diligently and expeditiously proceeds to cure such non-monetary Event of Default, (ii) the Directing
Note B Holder makes all cure payments, if any, that it is permitted to make in accordance with the terms and provisions of this
clause (b) (exclusive of any default interest, late fees and/or late charges), (iii) such additional period of time does not exceed
ninety (90) days, (iv) such non-monetary Event of Default is not caused by an insolvency proceeding of the Mortgage Loan Borrower,
operating lessee or any other obligor under the Loan Agreement or an insolvency proceeding of the Mortgage Loan Borrower, operating
lessee or any other obligor under the Loan Agreement does not occur during such cure period and (v) there is no material impairment
to the value, use or operation of the Mortgaged Property, or the value of the Mortgage Loan, as reasonably determined by Servicer
in good faith as a result of such non-monetary default or the attempted cure (each such cure right, the “Cure Right”
and the exercise of such right, a “Cure Event”); provided the right to cure such Event of Default shall
be limited as follows: (i) there shall not be more than six Cure Events over the life of the Mortgage Loan, (ii) there shall not
be more than four consecutive Cure Events and (iii) there shall not be more than four Cure Events, whether or not consecutive,
in any 12-month period. For purposes of the foregoing, an individual Cure Event shall, in the event of a delinquent Scheduled Payment,
terminate on the date that such payment is made unless Note A has been securitized, in which case it shall terminate on the next
Payment Date. If a Holder elects to exercise a Cure Right, it shall make the applicable cure payment as directed by the Lead Note A
Holder (or the Servicer on its behalf), and each such cure payment shall include all Costs imposed on, incurred by or asserted
against the Note A Holders (including, without limitation, all unreimbursed Advances (without regard to whether such Advance would
be a non-recoverable advance) and any interest charged thereon at the Advance Rate, and any unpaid Special Servicing Fees with
respect to the Mortgage Loan) related to the Event of Default and incurred during the period of time from such Event of Default
until such cure payment is made. The right of the Directing Note B Holder to reimbursement of any cure payment shall be as set
forth in Section 3 and Section 4, as applicable. So long as a default exists that is being cured by the Directing
Note B Holder pursuant to this Section 10(b) and the cure period has not expired and the Directing Note B Holder is permitted
to cure under the terms of this Section 10(b), the Note A Holders, the Servicer and the Trustee shall not treat such default
as a default or a Triggering Event of Default for purposes of (i) accelerating the Mortgage Loan, (ii) modifying, amending or waiving
any provisions of the Mortgage Loan Documents, (iii) commencing proceedings for foreclosure or the taking of title by deed-in-lieu
of foreclosure or other similar legal proceedings with respect to the Mortgaged Property or enforcing any other rights and/or

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remedies under the
Mortgage Loan Documents, (iv) treating the Mortgage Loan as a Specially Serviced Mortgage Loan or (v) Section 3 or Section
4 hereof; provided, that such limitations shall not prevent the Note A Holders, the Servicer or the Trustee from sending
notices of the default to the Mortgage Loan Borrower or any related guarantor or making demands on the Mortgage Loan Borrower or
any related guarantor or from collecting default interest or late payment charges from the Mortgage Loan Borrower. Additional Cure
Events shall only be permitted with the consent of each Holder.

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

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

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

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

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

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

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

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

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of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law);

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

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

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

(h)       Such
Holder is a Qualified Institutional Lender.

13.       [Reserved].

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

15.       No
Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto
shall be deemed to constitute the Lead Note A Holder (or the Servicer or Trustee on its behalf), the Non-Lead Note A Holders (or
any Non-Lead Servicers or Non-Lead Trustees on their behalf) and the Note B Holders as a partnership, association, joint venture
or other entity. None of the Holders (or, in the case of any Note A Holder, any Servicer, Trustee, Non-Lead Servicer or Non-Lead
Trustee on its behalf) shall have any obligation whatsoever to offer to any other party the opportunity to purchase notes or interests
relating to any future loans originated by either party or their respective Affiliates, and if any such party chooses to offer
to another party the opportunity to purchase notes or interests in any future mortgage loans originated by it or its Affiliates,
such offer shall be at such purchase price and interest rate as the applicable party chooses in its sole and absolute discretion.
No Holder shall have any obligation whatsoever to purchase from another Holder any notes or interests in any future loans originated
by another Holder or any of its Affiliates.

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

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17.       Transfer
of Notes.

(a)       Each
Holder may Transfer 49% or less in the aggregate (in one or more transactions) of its beneficial interest in its Note, whether
or not the related transferee is a Qualified Institutional Lender without the consent or approval of each other Holder, the Servicer
or any other Person, provided that any such Transfer shall be made in accordance with the conditions in the second succeeding sentence
below. No Holder shall Transfer more than 49% (in one or more transactions) of its beneficial interest in its Note, unless (i)
each other Holder has consented (which consent shall not be unreasonably withheld, conditioned, or delayed) to such Transfer (and
the transferring Holder shall have paid all reasonable out-of-pocket costs and expenses of each non-transferring Holder in connection
with obtaining any such consent), in which case the related transferee shall thereafter be deemed to be a “Qualified Institutional
Lender” for all purposes under this agreement, or (ii) such Transfer is to a Qualified Institutional Lender, provided any
such Transfer made pursuant to clauses (i) or (ii) of this sentence shall be made in accordance with the conditions in the next
sentence of this Section 17(a). Each Holder agrees that each Transfer to be made by it under clauses (a) or (b)
of this Section 17 is subject to the following conditions: (i) all such Transfers shall be made upon at least three (3)
Business Days’ prior written notice to each other Holder, (ii) a transferee of any interest in such Note shall (x) execute
an assignment and assumption agreement whereby such transferee assumes all or a ratable portion, as the case may be, of the obligations
of the transferring Holder hereunder with respect to the transferred Note from and after the date of such assignment (or, in the
case of a pledge, collateral assignment or other encumbrance by the transferring Holder of its Note solely as security for a loan
to such transferring Holder, made by a third-party lender whereby the transferring Holder remains fully liable under this Agreement,
such third party lender executes an agreement that such lender shall be bound by the terms and provisions of this Agreement and
the obligations of the transferring Holder hereunder on and after the date on which such lender succeeds to the rights of the transferring
Holder hereunder by foreclosure or otherwise) and (y) agree in writing to be bound by the Servicing Agreement, unless the Servicing
Agreement is not then in effect with respect to the Mortgage Loan, in which event the parties will enter into or agree to be bound
by any replacement servicing agreement therefor in accordance with the provisions of Section 2 and (iii) the proposed transferee
remakes each of the representations and warranties contained herein for the benefit of each other Holder (other than the representation
that the transferee is a Qualified Institutional Lender for transfers made pursuant to subsection (i) of the second sentence
of this Section 17(a)). Notwithstanding anything to the contrary contained herein, no Holder shall in any event Transfer
all or any portion of its Note to a Borrower Party unless each other Holder has consented to such Transfer, and any such Transfer
without having obtained such prior consent shall be void ab initio. Upon the consummation of a Transfer of all or any portion
of a Note, the transferring Person shall be released from all liability arising under this Agreement with respect to such Note
(or the portion thereof that was the subject of such Transfer), for the period after the effective date of such Transfer (it being
understood and agreed that the foregoing release shall not apply in the case of a sale, assignment, transfer or other disposition
of a participation interest in a Note as described in clause (b) below).

(b)       In
the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) the obligations of the
Holder of such Note under this Agreement shall remain unchanged, (ii) such Holder shall remain solely responsible for the performance
of such obligations, and (iii) each non-transferring Holder and any Persons acting

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on its behalf
shall continue to deal solely and directly with such Holder in connection with its rights and obligations under this Agreement
and the Servicing Agreement, and all amounts payable hereunder shall be determined as if such Holder had not sold such Note interest;
provided, that if the applicable participant is a Qualified Institutional Lender (and delivers to each non-transferring
Holder a certification from an authorized officer confirming its status as a Qualified Institutional Lender), then, the transferring
Holder by written notice to each non-transferring Holder, may delegate to such participant such transferring Holder’s right
(if any) to exercise the rights of the Controlling Holder hereunder and under the Servicing Agreement.

18.       Pledge.
Notwithstanding anything to the contrary contained herein, a Holder may pledge, transfer, collaterally assign or otherwise encumber
(a “Pledge”) its Note or any interest therein to any entity (other than any Borrower Party) which has extended
a credit facility to such Holder and that is (i) a Qualified Institutional Lender, (ii) a financial institution whose long-term
unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency or (iii) a Qualified Conduit
Lender (each such entity, a “Pledgee”), on terms and conditions set forth in this Section 17, it
being further agreed that a financing provided by a Pledgee to such pledging Holder or any person that Controls such Holder that
is secured by such Holder’s interest in its Note and is structured as a repurchase arrangement, shall constitute a “Pledge”
hereunder; provided all applicable terms and conditions of this Section 17 are complied with; provided, further,
that a Pledgee of a Note B that is not a Qualified Institutional Lender may not take title to the related Note after the Lead Note
A Securitization Date without the prior written consent of the Note A Holders; provided, further, that no Pledgee
may take title to a Note without satisfying the requirements for transfer set forth in Section 16 and this Section 17.
Upon written notice by the pledging Holder to each non-pledging Holder and the Servicer that a Pledge has been effected (including
the name and address of the applicable Pledgee), the Servicer shall agree: (i) to give the Pledgee written notice of any default
by the pledging Holder in respect of its obligations under this Agreement of which default the Servicer has actual knowledge and
which notice shall be given simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Pledgee
a period of ten (10) days to cure a default by the pledging Holder in respect of its obligations to each non-pledging Holder hereunder,
but such Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination
of this Agreement or the Servicing Agreement, if the pledging Holder had the right to consent to such amendment, modification,
waiver or termination pursuant to the terms hereof or the Servicing Agreement, as applicable, shall be effective against such Pledgee
without the written consent of such Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed and which
consent shall be deemed to be given if Pledgee shall fail to respond to any request for consent to any such amendment, modification,
waiver or termination within 10 days after request therefor; (iv) that the Servicer shall give to such Pledgee copies of any
notice of default under the Mortgage Loan simultaneously with the giving of same to the pledging Holder and accept any cure thereof
by such Pledgee which such pledging Holder has the right (but not the obligation) to effect hereunder, as if such cure were made
by such pledging Holder; (v) that the Servicer shall deliver to Pledgee such estoppel certificate(s) as Pledgee shall reasonably
request, provided that any such certificate(s) shall be in a form reasonably satisfactory to the Servicer; and (vi) that,
upon written notice (a “Redirection Notice”) to each non-pledging Holder and the Servicer by such Pledgee that
the pledging Holder is in default, beyond any applicable cure periods with respect to the pledging Holder’s obligations to
such Pledgee pursuant to the applicable credit agreement or repurchase agreement, as applicable, between the pledging Holder and
such Pledgee (which notice need not be joined in or confirmed

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by the pledging Holder),
and until such Redirection Notice is withdrawn or rescinded by such Pledgee, Pledgee shall be entitled to receive any payments
that the Servicer would otherwise be obligated to pay to the pledging Holder from time to time pursuant to this Agreement or the
Servicing Agreement. Any pledging Holder hereby unconditionally and absolutely releases each non-pledging Holder and the Servicer
from any liability to the pledging Holder on account of the Servicer’s or a non-pledging Holder’s compliance with any
Redirection Notice believed by the Servicer or any non-pledging Holder, as applicable, to have been delivered by a Pledgee. A Pledgee
shall be permitted to exercise fully its rights and remedies against the pledging Holder to such Pledgee (and accept an assignment
in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Servicer
shall recognize such Pledgee (and any transferee (other than any Borrower Party) which is also a Qualified Institutional Lender
at any foreclosure or similar sale held by such Pledgee or any transfer in lieu of foreclosure), and its successor and assigns,
which are Qualified Institutional Lenders as the successor to the pledging Holder’s rights, remedies and obligations under
this Agreement, and any such Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging
Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Pledgee) and agree
to be bound by the terms and provisions of this Agreement. The rights of a Pledgee under this Section 17 shall remain
effective as to each non-pledging Holder (and the Servicer) unless and until such Pledgee shall have notified such non-pledging
Holder (and the Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

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

20.       Exercise
of Remedies by the Servicer.

(a)       Subject
to Section 20 of this Agreement, and except as otherwise provided in this Agreement or the Servicing Agreement and subject
to the applicable limitations set forth in this Agreement or the Servicing Agreement, the Servicer (or other party entitled in
accordance with the Servicing Agreement to act on behalf of the Holders) shall have the sole and exclusive authority with respect
to the administration of, and exercise of all rights and remedies with respect to, the Mortgage Loan granted under this Agreement
or the Servicing Agreement, including, without limitation, the sole and exclusive authority to (i) modify or waive any of the terms
of the Mortgage Loan Documents, (ii) consent to any action or failure to act by the Mortgage Loan Borrower or any party to the
Mortgage Loan Documents, (iii) vote all claims with respect to the Mortgage Loan in any bankruptcy, insolvency or other similar
proceedings and (iv) take legal action to enforce or protect the Holders’ interests with respect to the Mortgage Loan or
to refrain from exercising any powers or rights under the Mortgage Loan Documents, including the right at any time to declare or
waive any Events of Default, or accelerate or refrain from accelerating the Mortgage Loan or institute any foreclosure action,
and subject to the terms and conditions of this Agreement, including, without limitation, Section 20 hereof, the Non-

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Lead Note A
Holders and the Note B Holders shall not have any voting, consent or other rights whatsoever with respect to the Servicer’s
administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan on behalf of the Lead Note A
Holder. Subject to the terms and conditions of the Servicing Agreement, and subject to the terms and conditions of Section 10(b)
hereof, the Servicer on behalf of the Lead Note A Holder shall have the sole and exclusive authority to make servicing advances
with respect to the Mortgage Loan. Except as otherwise provided in this Agreement, the Non-Lead Note A Holders and the Note B Holders
agree that they shall have no right to, and hereby presently and irrevocably assigns and conveys to the Servicer (or other party
entitled in accordance with the Servicing Agreement to act on behalf of the Holders), the rights, if any, that such Holder has
(A) to declare or cause the Lead Note A Holder or the Servicer to declare an Event of Default under the Mortgage Loan, (B)
to exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing
or causing the Lead Note A Holder or the Servicer to file any bankruptcy petition against the Mortgage Loan Borrower or (C) to
vote any claims with respect to the Mortgage Loan in bankruptcy, insolvency or similar type of proceeding of the Mortgage Loan
Borrower. Each Non-Lead Note A Holder and each Note B Holder shall, from time to time, execute such documents as the Lead Note
A Holder or the Servicer shall reasonably request to evidence such assignment with respect to the rights described in clause (iii)
of the first sentence in this Section 19(a). Each Non-Lead Note A Holder and each Note B Holder acknowledges that the Servicer
on behalf of the Lead Note A Holder may in its sole discretion (subject to the terms of this Agreement, the Mortgage Loan Documents,
and the Servicing Agreement) exercise, or omit to exercise, any rights that the Servicer on behalf of Note A Holder may have under
this Agreement or the Servicing Agreement in a manner that may be adverse to the interests of the Non-Lead Note A Holders or the
Note B Holders, and that the Servicer on behalf of the Lead Note A Holder shall have no liability whatsoever to the Non-Lead
Note A Holders or the Note B Holders (or any servicers or trustees on their behalf), other than as set forth in Section 9
hereof, in connection with exercise of rights by the Servicer on behalf of the Lead Note A Holder or any omission by the Servicer
on behalf of the Lead Note A Holder to exercise such rights. The foregoing provisions of this Section 19(a) shall not limit
the rights of a Note B Holder hereunder, or the right of a Note B Holder or any Affiliate thereof to be the Special Servicer or
the right of the Directing Note B Holder to exercise its rights as Controlling Holder under this Agreement or any comparable rights
as Holder of the applicable Note B under the Servicing Agreement. Each Note B Holder expressly and irrevocably waives for
itself and any Person claiming through or under such Holder any and all rights that it may have under Section 1315 of the
New York Real Property Actions and Proceedings Law or the provisions of any similar law that purports to give a junior noteholder,
mortgagee or loan participant the right to initiate any loan enforcement or foreclosure proceedings.

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

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

(d)       Upon
the Mortgage Loan becoming a Defaulted Mortgage Loan, the Lead Note A Holder (or the Special Servicer acting on behalf of the Lead
Note A Holder) shall have the authority to sell each Note A (and, if a Note B Holder consents to the inclusion of its related Note
B in such a sale as described below, the related Note B) together in accordance with the terms of the Lead Note A PSA. The Non-Lead
Note A Holders (and, if such Note B Holder has consented to the inclusion of its Note B in such a sale as described below, such
Note B Holder) hereby appoint the Lead Note A Holder as its agent, and grants to the Lead Note A Holder an irrevocable power of
attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting offers for and consummating the sale
of its Note B. The Non-Lead Note A Holders (and, if such Note B Holder has consented to the inclusion of its Note B in such a sale
as described below, such Note B Holder) agrees that, upon the request of the Lead Note A Holder (or the Special Servicer acting
on behalf of the Lead Note A Holder), such Note Holder shall execute and deliver to or at the direction of Lead Note A Holder (or
the Special Servicer acting on behalf of the Lead Note A Holder) such powers of attorney or other instruments as the Lead Note
A Holder (or the Special Servicer acting on behalf of the Lead Note A Holder) may reasonably request to better assure and evidence
the foregoing appointment and grant, in each case promptly following request, and shall deliver any related original documentation
evidencing its Note (endorsed in blank if necessary) to or at the direction of the Lead Note A Holder (or the Special Servicer
acting on behalf of the Lead Note A Holder) in connection with the consummation of any such sale. Any Note B shall be included
in such an offer and sale only if the related Note B Holder affirmatively consents in writing thereto not later than thirty (30)
days following the Purchase Option Notice described in Section 10(a).

21.       Certain
Powers of the Controlling Holder.

(a)       The
Servicer shall consult with and obtain the prior written consent of the Controlling Holder with respect to any Major Decision and,
notwithstanding anything in this Agreement or the Servicing Agreement to the contrary, such Servicer will not be permitted to take
any Major Decision unless and until it has notified the Controlling Holder in writing by a notice in capitalized, bold faced 14
point type containing the following statement at the top of the first page: “THIS IS A REQUEST FOR MAJOR DECISION APPROVAL.
IF THE CONTROLLING HOLDER FAILS TO APPROVE OR DISAPPROVE THE ENCLOSED MAJOR DECISION WITHIN TEN (10) BUSINESS DAYS, THE SERVICER
OR THE SPECIAL SERVICER, AS THE CASE MAY BE, MAY DELIVER A DEEMED APPROVAL NOTICE,” and if the Controlling Holder fails to
either approve or reject said Major Decision within such ten (10) business day period after receipt of the first notice, and having
been provided with all reasonably requested information with respect thereto, then the Controlling

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Holder’s
approval will be deemed to have been given. With respect to any proposed action requiring consultation with or approval of the
Controlling Holder, the Servicer shall prepare a summary of such proposed action and an analysis of whether or not such action
is reasonably likely to produce a greater recovery on a present value basis than not taking such action, setting forth the basis
on which the Servicer made such determination, and shall promptly provide to each Holder copies of such summary and any other material
documents and items reasonably necessary to make such determination by hard copy or electronic means on a timely basis.

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

On and after the Lead
Note A Securitization Date, and solely while any Note A is included in a Securitization, notwithstanding the foregoing provisions
of this Section 20(a), if the Servicer determines in accordance with the Servicing Standard that (i) immediate action is
necessary to protect the Mortgaged Property or the interests of the Holders (as a collective whole) therein, (ii) such action requires
consultation with and/or consent of the Controlling Holder, and (iii) such action must be taken prior to the expiration of the
Controlling Holder’s consultation or consent period hereunder, then the Servicer shall contact the Controlling Holder (by
telephone, email or fax) promptly and shall discuss the proposed action with such Controlling Holder (unless the Controlling Holder
shall fail to respond in a reasonable time frame under the circumstances). If consent of the Controlling Holder would otherwise
be required under this Agreement, the Servicer shall attempt to reach agreement prior to taking the proposed action. In all cases,
the Servicer shall be entitled to take the necessary immediate action within the necessary time frame regardless of whether it
has been able to contact or obtained any agreement of the Controlling Holder. If such immediate action is taken, the Servicer shall
promptly notify the Controlling Holder of the action so taken and the Servicer’s reasons for determining that immediate action
was necessary and how the action differs from the proposed actions, if any, that had theretofore been approved by the Controlling
Holder. After the occurrence of and during the continuance of a Control Appraisal Event, the Servicer shall not be required to
contact the Controlling Holder as set forth above.

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

So long as a Control
Appraisal Event has occurred and is continuing, the Special Servicer shall (i) provide copies to each Non-Lead Note A Holder of
any notice, information and report that is required to be provided to the Controlling Holder pursuant to the Servicing Agreement
with respect to any Major Decisions within the same time frame such notice, information and report is required to be provided to
the Controlling Holder, and (ii) consult with each Non-Lead Note A Holder on a strictly non-binding basis, to the extent having
received such

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notices, information
and reports such Holder requests consultation with respect to any such Major Decision or the implementation of any recommended
actions outlined in an asset status report and (iii) consider alternative actions recommended by any such Non-Lead Note A Holder;
provided, that after the expiration of a period of ten (10) Business Days from the delivery to a Non-Lead Note A Holder by the
Special Servicer of written notice of a proposed action, together with copies of the notice, information and reports, the Special
Servicer shall no longer be obligated to consult with such Holder, whether or not such Holder has responded within such ten (10)
Business Day period.

The Lead Note A Holder
or the applicable Servicer shall notify the Holders of any release or substitution of collateral for the Mortgage Loan even if
such release or substitution is in accordance with the Mortgage Loan.

Any amounts funded
by any Servicer or Trustee on behalf of any Holder pursuant hereto, under the Mortgage Loan Documents as a result of (1) the making
of any protective Advances or (2) interest accruals or accretions and any compounding thereof (including default interest) with
respect to the Note shall not at any time be deemed to contravene this subsection.

(b)       Appraisal
Reductions shall be allocated to reduce first, the Aggregate Note B Principal Balance (which amounts shall be applied to
the Subordinate Notes on a pro rata and pari passu basis), and second, the Aggregate Note A Principal Balance (which amounts
shall be applied to the Senior Notes on a pro rata and pari passu basis), in each case up to the outstanding amount thereof, for
purposes of determining the identity of the Controlling Holder. The Special Servicer shall give written notice to the Controlling
Holder of any Appraisal Reductions calculated with respect to the Mortgage Loan and any allocation thereof to reduce the Principal
Balance of such Holder. If at any time an Appraisal Reduction exists that would result in a Control Appraisal Event, the Holder
that is being replaced as the Controlling Holder shall have the right to obtain and deliver, or direct the Servicer (or Special
Servicer, as the case may be) to obtain and deliver, to the Servicer, the Controlling Holder and the Trustee (if applicable) an
appraisal that satisfies the requirements for any such appraisal as set forth in the Servicing Agreement and upon receipt of such
new appraisal, the Servicer (or Special Servicer, as the case may be) shall recalculate the Appraisal Reduction in respect of the
Mortgage Loan based on such new appraisal obtained by the Servicer (or Special Servicer, as the case may be) and shall notify the
Trustee (if applicable), the Master Servicer (if applicable) and the applicable Controlling Holder of such recalculated Appraisal
Reduction. If, as a result of such calculation based on the new appraisal, a Control Appraisal Event then in effect shall no longer
be deemed to exist, then the Directing Note B Holder shall be reinstated as Controlling Holder. Until such time as such new appraisal
is obtained by the Special Servicer and the recalculation of the Appraisal Reduction has been made (it being agreed that such recalculation
shall be done no later than three (3) Business Days following receipt of such new appraisal), the original Control Appraisal Event
shall remain in effect.

(c)       Notwithstanding
the foregoing, the Controlling Holder shall be entitled to avoid a Control Appraisal Event caused by application of an Appraisal
Reduction upon satisfaction of the following (which must be completed within thirty (30) days of the receipt of a third party Appraisal
(or an update thereto) that indicates such Control Appraisal Event has occurred): (i) such Controlling Holder shall have delivered
as a supplement to the Appraised

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Value of the
Mortgaged Property, in the amount specified in clause (ii) below, to be held by or on behalf of the Master Servicer or the
Special Servicer (in each case together with documentation reasonably acceptable to the Master Servicer or the Special Servicer
in accordance with the Servicing Standard to create and perfect a first priority security interest in favor of the Trust in such
collateral) (A) cash collateral for the benefit of the Trustee, and acceptable to the Master Servicer or the Special Servicer,
as the case may be, or (B) an unconditional and irrevocable standby letter of credit payable on sight demand (with the Trustee
as beneficiary), in form acceptable to the Master Servicer or Special Servicer, as the case may be, issued by a domestic bank or
other financial institution the long term unsecured debt obligations of which are rated at least “AA-” by S&P and
“Aa3” by Moody’s or the short term obligations of which are rated at least “A-1” by S&P and “P-1”
by Moody’s (either (A) or (B), the “Threshold Event Collateral”), and (ii) the Threshold Event Collateral
shall be in an amount which, when added to the Appraised Value of the Mortgaged Property as determined pursuant to the Servicing
Agreement, would cause the applicable Control Appraisal Event not to occur. If the requirements of this paragraph are satisfied
by the Controlling Holder (a “Threshold Event Cure”), no Control Appraisal Event caused by application of an
Appraisal Reduction shall be deemed to have occurred. If a letter of credit is furnished as Threshold Event Collateral, the applicable
Controlling Holder shall be required to renew such letter of credit not later than 30 days prior to expiration thereof or to replace
such letter of credit with a substitute letter of credit or other Threshold Event Collateral with an expiration date that is greater
than 45 days from the date of substitution or if the long or short term ratings of the letter of credit provider fall below the
minimum requirements provided above, replace such letter of credit within 30 days of such downgrade with a replacement letter from
an issuer meeting the rating requirements; provided, that, if a letter of credit is not renewed prior to 30 days prior to the expiration
date of such letter of credit or replaced within 30 days of such downgrade, the letter of credit shall provide that the Master
Servicer or the Special Servicer, as the case may be, may (and at the direction of the applicable Controlling Holder, shall) draw
upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue
until (i) the Appraised Value of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient
to prevent a Control Appraisal Event from occurring; or (ii) the occurrence of a Final Recovery Determination. If the Appraised
Value of the Mortgaged Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal
Event without taking into consideration any, or some portion of, Threshold Event Collateral previously delivered by the Controlling
Holder, any or such portion of Threshold Event Collateral held by the Trustee, the Master Servicer or the Special Servicer shall
promptly be returned to such Controlling Holder (at its sole expense). Upon a Final Recovery Determination with respect to the
Mortgage Loan, such Threshold Event Collateral shall be available to reimburse the Note A Holders (and the Trust and each Non-Lead
Trust) for any realized loss with respect to the Mortgage Loan after application of the net proceeds of liquidation, not in excess
of the Aggregate Note A Principal Balance, plus accrued and unpaid interest thereon at the applicable interest rate and all other
Costs reimbursable under this Agreement and under the Servicing Agreement, and to the extent not so utilized, such Threshold Event
Collateral shall be returned to the Holder that delivered such Threshold Event Collateral. Any Threshold Event Collateral shall
be treated as an “outside reserve fund” for purposes of the REMIC Provisions, and such property (and the right to reimbursement
of any amounts with respect thereto from a REMIC) shall be beneficially owned by the Controlling Holder that posted

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such Threshold
Event Collateral, who shall be taxable on all income with respect thereto. The entire amount of Threshold Event Collateral, without
a haircut or other reduction, shall be considered in determining the sufficiency of such Threshold Event Collateral to avoid a
Control Appraisal Event.

(d)       The
terms “Controlling Holder” and “Control Note” shall mean as of any date of determination,
the Directing Note B Holder and the Note B held by the Directing Note B Holder, unless (i) a Control Appraisal Event has occurred
or (ii) the Directing Note B Holder is a Borrower Party, in which case the “Controlling Holder” and “Control
Note” shall be the Lead Note A Holder and Lead Note A, respectively. Notwithstanding anything to the contrary herein, if
the Aggregate Note A Principal Balance has been reduced to zero pursuant to application of distributions pursuant to Sections
3, 4 and/or 5 hereof, as the case may be, “Controlling Holder” and “Control Note” shall
mean the Directing Note B Holder and the Note B held by the Directing Note B Holder, and thereafter no change in the Controlling
Holder shall be effected by reason of a Control Appraisal Event. The terms “Non-Controlling Holder” and “Non-Control
Note” shall mean a Holder that is not the Controlling Holder and a Note that is not the Control Note, respectively.

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

(e)       Notwithstanding
anything herein to the contrary, no advice, direction or objection from or by the Controlling Holder, as contemplated by Section
20(a) hereof, may (and the Lead Note A Holder and any Servicer shall ignore and act without regard to any such advice, direction
or objection that the Lead Note A Holder or a Servicer has determined, in its reasonable, good faith judgment, will) require or
cause the Lead Note A Holder or Servicer to

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violate any
provision of this Agreement, the Mortgage Loan Documents or the Servicing Agreement (and, on and after the Lead Note A Securitization
Date, and solely while any Note A is included in such Securitization, including any REMIC provisions), including each Servicer’s
obligation to act in accordance with the Servicing Standard.

(f)       No
Controlling Holder shall owe any fiduciary duty to any other Holder. No Controlling Holder shall have any liability to the Trustee,
the Servicer, the Special Servicer, any certificateholder in a Securitization or any other Holder for any action taken, or for
refraining from the taking of any action or the giving of any consent or for errors in judgment; provided, that the Controlling
Holder will not be protected against any liability which would otherwise be imposed by reason of bad faith, willful misconduct
or gross negligence or breach of this Agreement on the part of such party. By its acceptance of a Mortgage Note, each Holder shall
be deemed to have confirmed its understanding that (i) a Controlling Holder may take or refrain from taking actions that favor
its interests or those of its affiliates over those of any other Holder, (ii) a Controlling Holder may have special relationships
and interests that conflict with the interest of another Holder and shall be deemed to have agreed to take no action against a
Controlling Holder or any of its officers, directors, employees, principals or agents as a result of such special relationships
or conflicts, and (iii) no Controlling Holder shall be liable by reason of its having acted or refrained from acting solely in
its interest or in the interest of its affiliates.

(g)       Subject
to the terms of the applicable Servicing Agreement, the Controlling Holder may designate, in writing, a representative (other than
a Borrower Party) to exercise its rights and powers under this Section 20 or otherwise under this Agreement (with copies
of such writing to be delivered to each of the other parties hereto). Such designation shall remain in effect until it is revoked
by the Controlling Holder by a writing delivered to each of the other parties hereto.

(h)       If
the Controlling Holder is comprised of more than one Person such Persons may designate, by written notice to each Non-Controlling
Holder and each party to the Servicing Agreement, a representative to act on its behalf. Such notice shall include the name, address
and other contact information of such representative. Such representative shall have the sole right to receive any notices which
are required to be given or which may be given to the Controlling Holder pursuant to this Agreement and to exercise the rights
and power given to the Controlling Holder hereunder, including any approval rights of the Controlling Holder. Once such a representative
has been designated hereunder, each Non-Controlling Holder shall be entitled to rely on such designation until it has received
written notice from the Controlling Holder of the designation of a different Person to act as its representative.

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

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

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

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

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

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

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parties hereby irrevocably
waives all right to trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement.

24.       Modifications,
Waiver in Writing.

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

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

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

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26.       Counterparts.
This Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute one and the
same instrument. This Agreement may be executed and delivered by the parties by electronic means (including without limitation
facsimile, pdf or other electronic means) and such execution and delivery shall have the same effect as original ink signatures.

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

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

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

30.       Notices.
All notices, consents, approvals and requests required or permitted hereunder shall be given in writing and shall be effective
for all purposes if sent by (a) hand delivery, with proof of attempted delivery, (b) certified or registered United States mail,
postage prepaid, (c) expedited delivery service, either commercial or United States Postal Service, with proof of attempted delivery,
or (d) by fax provided that such fax notice must also be delivered by one of the means set forth in (a), (b) or (c) above, addressed
as follows: (A) if to the Note A-1 Holder or the Note A-2 Holder, 1585 Broadway, New York, New York 10036, Attention: Jane Lam
(with a copy to Morgan Stanley Bank, N.A., 1633 Broadway, 29th Floor, New York, New York 10019, Attention: Legal Compliance Division
and a copy by email to cmbs_notices@morganstanley.com), (B) if to the Note B-1-A Holder, the Note B-1-B Holder, the Note B-1-C
Holder or the Note B-1-D Holder, 1585 Broadway, New York, New York 10036, Attention: Jane Lam (with a copy to Morgan Stanley Mortgage
Capital Holdings LLC, 1633 Broadway, 29th Floor, New York, New York 10019, Attention: Legal Compliance Division and a copy by email
to cmbs_notices@morganstanley.com), (C) if to the Note A-3 Holder, Note A-4 Holder, the Note B-2-A Holder, the Note B-2-B
Holder, the Note B-2-C Holder or the Note B-2-D Holder, to Bank of America, N.A. c/o Capital Markets Servicing Group, 900 West
Trade Street, Suite 650, Mail Code: NC1-026-06-01, Charlotte, North Carolina 28255, Attention: Servicing Manager, Telephone No:
(866) 531-0957, Facsimile No.: (704) 317-4501, and (D) if to the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder,
the Note A-8 Holder, the Note B-3-A Holder, the Note B-3-B Holder, the Note B-3-C Holder or the Note B-3-D Holder, to UBS AG, 1285
Avenue of the Americas, 11th Floor New York, New York 10019, Attention: Transaction Management – Henry Chung, or, in each
of the foregoing cases, at such other address and Person as shall be designated from time to time by any party hereto, as the case
may be, in a written notice to the other parties hereto in the manner provided for in this Section. A copy of all notices, consents,
approvals and requests directed to any Holder shall be delivered concurrently to each Person (not to exceed four (4) in the aggregate)
designated by such Holder. A notice shall be

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deemed to have been
given: (a) in the case of hand delivery, at the time of delivery; (b) in the case of registered or certified mail, when delivered
or the first attempted delivery on a Business Day; (c) in the case of expedited prepaid delivery upon the first attempted delivery
on a Business Day; or (d) in the case of fax, upon receipt of answerback confirmation, provided that such fax notice was also delivered
as required in this Section. A party receiving a notice which does not comply with the technical requirements for notice under
this Section may elect to waive any deficiencies and treat the notice as having been properly given.

31.       Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than each original Non-Lead Note A and
each original Note B but including copies of such Notes) will be held by the Trustee or other applicable Person under the Servicing
Agreement. Each original Non-Lead Note A shall be held by the related Non-Lead Note A Holder. Each original Note B shall be
held by the applicable Note B Holder.

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

33.       Statement
of Intent. It is the intention of the parties hereto that, for purposes of federal income taxes, state and local income and
franchise taxes and any other taxes imposed upon, measured by or based upon gross or net income, this Agreement shall be treated
as a grantor trust. Each Holder agrees that, unless otherwise required by appropriate tax authorities, such noteholder shall file
or cause to be filed its own annual or other necessary returns, reports and other forms consistent with such intended characterization.
If the Internal Revenue Service characterizes this Agreement as a partnership for federal income tax purposes, each Non-Lead Note
A Holder and each Note B Holder authorizes and directs the Lead Note A Holder to elect out of partnership accounting
pursuant to Treasury Regulations Section 1.761-2, and agrees to file its own tax returns and reports in a manner consistent
with such election and the Holders agree that any Taxes, penalty, interest or other obligation imposed under the Code, as amended,
with respect to the income tax items arising from such partnership shall be the sole obligation of the Holder to whom such items
are allocated and not of such partnership.

34.       Withholding
Taxes.

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

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(b)       Each
Holder shall and hereby agrees to indemnify the Servicer against and hold the Servicer harmless from and against any Taxes, interest,
penalties and attorneys’ fees and disbursements arising or resulting from any failure of the Servicer to withhold Taxes from
payment made to such Holder in reliance upon any representation, certificate, statement, document or instrument made or provided
by such Holder in connection with the withholding of Taxes from payments made to such Holder, it being expressly understood and
agreed that (i) the Servicer shall be absolutely and unconditionally entitled to accept any such representation, certificate, statement,
document or instrument as being true and correct in all respects and to fully rely thereon without any obligation or responsibility
to investigate or to make any inquiries with respect to the accuracy, veracity, correctness or validity of the same, except as
otherwise required under applicable law, (ii) such Holder shall, upon request of the Servicer and at its sole cost and expense,
defend any claim or action relating to the foregoing indemnification using counsel selected by such Holder and reasonably acceptable
to the Servicer and (iii) such indemnification obligations of the Holders shall be several and not joint and shall be allocated
between such Holders in accordance with their respective Percentage Interests. The Person that is the Holder at any particular
time shall not be liable under this Section 33 with respect to any predecessor or successor Holder.

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

35.       Note
B Holder’s Access to Information. Subject to any restrictions on the distribution of information contained in the Servicing
Agreement, the Lead Note A Holder (or the Servicer on its behalf) shall provide to each Note B Holder (so long as such Note B Holder
is not a Borrower Party), upon written request, access to (a) a summary of the current status of principal and interest payments
on the Mortgage Loan (which may be in the form of the CREFC® Loan

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Periodic Update File),
(b) copies of the Mortgage Loan Borrower’s current financial statements, to the extent in the Master Servicer’s possession,
(c) the most recent appraisal, if any, as to the value of the Mortgaged Property, to the extent in the Master Servicer’s
possession, (d) a copy of the applicable Servicing Agreement, (e) copies of any default or acceleration notices sent to the Mortgage
Loan Borrower with respect to the Mortgage Loan and all material correspondence related thereto, (f) material notices delivered
to any Servicer by the Mortgage Loan Borrower, (g) copies of each other report provided to the Certificateholders in accordance
with the express terms of the Servicing Agreement (but only to the extent such other reports relate to the Mortgage Loan or the
Mortgage Loan Borrower), and (h) other information with respect to the Mortgage Loan Borrower or the Mortgage Loan reasonably requested
by such Note B Holder, to the extent required to be provided by the Master Servicer under the Servicing Agreement and in the Master
Servicer’s possession or reasonably obtainable by the Master Servicer.

[NO FURTHER TEXT ON THIS PAGE]

 

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

 

	 	Note A-1 Holder:
	 	 
	 	MORGAN STANLEY BANK, N.A.
	 	 
	 	By:	/s/ Kristin Sansone
	 	 	Name:	Kristin Sansone
	 	 	Title:	Executive Director
	 	 
	 	Note A-2 Holder:
	 	 
	 	MORGAN STANLEY BANK, N.A.
	 	 
	 	By:	/s/ Kristin Sansone
	 	 	Name:	Kristin Sansone
	 	 	Title:	Executive Director

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	 	Note A-3 Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director
	 	 
	 	Note A-4 Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director

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	Note A-5 Holder:
	 
	UBS AG
	 	 	 	 	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note A-6 Holder:
	 
	UBS AG
	 	 	 	 	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note A-7 Holder:
	 
	UBS AG
	 	 	 	 	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note A-8 Holder:
	 
	UBS AG
	 	 	 	 	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director

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	 	Note B-1-A Holder:
	 	 
	 	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC
	 	 	 
	 	By:	/s/ Jane Lam
	 	 	Name:	Jane Lam
	 	 	Title:	Vice President
	 	 
	 	Note B-1-B Holder:
	 	 
	 	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC
	 	 	 
	 	By:	/s/ Jane Lam
	 	 	Name:	Jane Lam
	 	 	Title:	Vice President
	 	 
	 	Note B-1-C Holder:
	 	 
	 	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC
	 	 	 
	 	By:	/s/ Jane Lam
	 	 	Name:	Jane Lam
	 	 	Title:	Vice President
	 	 
	 	Note B-1-D Holder:
	 	 
	 	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC
	 	 	 
	 	By:	/s/ Jane Lam
	 	 	Name:	Jane Lam
	 	 	Title:	Vice President

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	 	Note B-2-A Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director
	 	 
	 	Note B-2-B Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director
	 	 
	 	Note B-2-C Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director
	 	 
	 	Note B-2-D Holder:
	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Leland F. Bunch
	 	 	Name:	Leland F. Bunch
	 	 	Title:	Managing Director

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	Note B-3-A Holder:
	 
	UBS AG
	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note B-3-B Holder:
	 
	UBS AG
	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note B-3-C Holder:
	 
	UBS AG
	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director
	 
	Note B-3-D Holder:
	 
	UBS AG
	 
	By:	/s/ Andrew Lisa	 	By:	/s/ David Schell
	 	Name:	Andrew Lisa	 	 	Name:	David Schell
	 	Title:	Associate Director	 	 	Title:	Managing Director

  

ILPT Industrial Portfolio - lntercreditor Agreement

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of
Mortgage Loan

	Mortgage Loan Borrower:	The Industrial Fund St. Louis LLC, The Industrial Fund PA LLC, The Industrial Fund MS LLC, and The Industrial Fund

Ankeny LLC
	Date of Mortgage Loan:	October 21, 2019
	Date of Notes:	October 21, 2019
	Location of Mortgaged Property:	Various
	
        Initial Principal Amount of Mortgage
        Loan:

         
	$350,000,000
	
        Closing Date Mortgage Loan Principal
        Balance:

         
	$350,000,000
	Mortgage Interest Rate:	The weighted average of the Note A Interest Rate and the Note B Interest Rate
	Mortgage Loan Default Rate:	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Mortgage Interest Rate
	Stated Maturity Date:	November 7, 2029

 

B.       Description of
Promissory Notes

 

	Origination Date Note A-1 Principal Balance:	$50,000,000.00
	Origination Date Note A-2 Principal Balance:	$35,760,000.00
	Origination Date Note A-3 Principal Balance:	$39,240,000.00
	Origination Date Note A-4 Principal Balance:	$25,080,000.00
	Origination Date Note A-5 Principal Balance:	$25,000,000.00
	Origination Date Note A-6 Principal Balance:	$20,000,000.00
	Origination Date Note A-7 Principal Balance:	$10,000,000.00
	Origination Date Note A-8 Principal Balance:	$9,320,000.00

A-1

     

    

 

	Origination Date Note B-1-A Principal Balance:	$24,240,000.00
	Origination Date Note B-1-B Principal Balance:	$20,000,000.00
	Origination Date Note B-1-C Principal Balance:	$5,200,000.00
	Origination Date Note B-1-D Principal Balance:	$4,800,000.00
	Origination Date Note B-2-A Principal Balance:	$18,180,000.00
	Origination Date Note B-2-B Principal Balance:	$15,000,000.00
	Origination Date Note B-2-C Principal Balance:	$3,900,000.00
	Origination Date Note B-2-D Principal Balance:	$3,600,000.00
	Origination Date Note B-3-A Principal Balance:	$18,180,000.00
	Origination Date Note B-3-B Principal Balance:	$15,000,000.00
	Origination Date Note B-3-C Principal Balance:	$3,900,000.00
	Origination Date Note B-3-D Principal Balance:	$3,600,000.00
	Closing Date Note A-1 Principal Balance:	$50,000,000.00
	Closing Date Note A-2 Principal Balance:	$35,760,000.00
	Closing Date Note A-3 Principal Balance:	$39,240,000.00
	Closing Date Note A-4 Principal Balance:	$25,080,000.00
	Closing Date Note A-5 Principal Balance:	$25,000,000.00
	Closing Date Note A-6 Principal Balance:	$20,000,000.00
	Closing Date Note A-7 Principal Balance:	$10,000,000.00
	Closing Date Note A-8 Principal Balance:	$9,320,000.00
	Closing Date Note B-1-A Principal Balance:	$24,240,000.00
	Closing Date Note B-1-B Principal Balance:	$20,000,000.00

A-2

     

    

 

	Closing Date Note B-1-C Principal Balance:	$5,200,000.00
	Closing Date Note B-1-D Principal Balance:	$4,800,000.00
	Closing Date Note B-2-A Principal Balance:	$18,180,000.00
	Closing Date Note B-2-B Principal Balance:	$15,000,000.00
	Closing Date Note B-2-C Principal Balance:	$3,900,000.00
	Closing Date Note B-2-D Principal Balance:	$3,600,000.00
	Closing Date Note B-3-A Principal Balance:	$18,180,000.00
	Closing Date Note B-3-B Principal Balance:	$15,000,000.00
	Closing Date Note B-3-C Principal Balance:	$3,900,000.00
	Closing Date Note B-3-D Principal Balance:	$3,600,000.00
	Closing Date Note A-1 Percentage Interest:	14.29%
	Closing Date Note A-2 Percentage Interest:	10.22%
	Closing Date Note A-3 Percentage Interest:	11.21%
	Closing Date Note A-4 Percentage Interest:	7.17%
	Closing Date Note A-5 Percentage Interest:	7.14%
	Closing Date Note A-6 Percentage Interest:	5.71%
	Closing Date Note A-7 Percentage Interest:	2.86%
	Closing Date Note A-8 Percentage Interest:	2.66%
	Closing Date Note B-1-A Percentage Interest:	17.88%
	Closing Date Note B-1-B Percentage Interest:	14.75%
	Closing Date Note B-1-C Percentage Interest:	3.83%
	Closing Date Note B-1-D Percentage Interest:	3.54%

    A-3

     

    

 

	Closing Date Note B-2-A Percentage Interest:	13.41%
	Closing Date Note B-2-B Percentage Interest:	11.06%
	Closing Date Note B-2-C Percentage Interest:	2.88%
	Closing Date Note B-2-D Percentage Interest:	2.65%
	Closing Date Note B-3-A Percentage Interest:	13.41%
	Closing Date Note B-3-B Percentage Interest:	11.06%
	Closing Date Note B-3-C Percentage Interest:	2.88%
	Closing Date Note B-3-D Percentage Interest:	2.65%
	Note A Interest Rate	2.65326%
	Note A-1 Interest Rate:	2.65326%
	Note A-2 Interest Rate:	2.65326%
	Note A-3 Interest Rate:	2.65326%
	Note A-4 Interest Rate:	2.65326%
	Note A-5 Interest Rate:	2.65326%
	Note A-6 Interest Rate:	2.65326%
	Note A-7 Interest Rate:	2.65326%
	Note A-8 Interest Rate:	2.65326%
	Note B Interest Rate	4.40%
	Note B-1-A Interest Rate:	4.40%
	Note B-1-B Interest Rate:	4.40%
	Note B-1-C Interest Rate:	4.40%
	Note B-1-D Interest Rate:	4.40%

A-4

     

    

 

	Note B-2-A Interest Rate:	4.40%
	Note B-2-B Interest Rate:	4.40%
	Note B-2-C Interest Rate:	4.40%
	Note B-2-D Interest Rate:	4.40%
	Note B-3-A Interest Rate:	4.40%
	Note B-3-B Interest Rate:	4.40%
	Note B-3-C Interest Rate:	4.40%
	Note B-3-D Interest Rate:	4.40%
	Note A Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A Interest Rate
	Note A-1 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-1 Interest Rate
	Note A-2 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-2 Interest Rate
	Note A-3 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-3 Interest Rate
	Note A-4 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-4 Interest Rate
	Note A-5 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-5 Interest Rate
	Note A-6 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-6 Interest Rate
	Note A-7 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-7 Interest Rate
	Note A-8 Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note A-8 Interest Rate
	Note B Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B Interest Rate

A-5

     

    

 

	Note B-1-A Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-1-A Interest Rate
	Note B-1-B Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-1-B Interest Rate
	Note B-1-C Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-1-C Interest Rate
	Note B-1-D Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-1-D Interest Rate
	Note B-2-A Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-2-A Interest Rate
	Note B-2-B Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-2-B Interest Rate
	Note B-2-C Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-2-C Interest Rate
	Note B-2-D Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-2-D Interest Rate
	Note B-3-A Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-3-A Interest Rate
	Note B-3-B Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-3-B Interest Rate
	Note B-3-C Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-3-C Interest Rate
	Note B-3-D Default Interest Rate	Lesser of (a) the maximum rate permitted by law or (b) 3% above the Note B-3-D Interest Rate

 

    A-6

     

    

EXHIBIT B

PERMITTED FUND MANAGERS

 

 

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

  

    B-1Exhibit
4.9

EXECUTION VERSION

AGREEMENT BETWEEN NOTE HOLDERS

Dated as of December 12, 2019

by and between

UBS AG, by and through its branch office
at 1285 Avenue of the Americas, New York, New York,

(Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder, Initial Note A-4 Holder and Initial Note A-5 Holder),

United Healthcare Office

    	 	 	 

     

    

TABLE OF CONTENTS

Page

	Section 1.   	Definitions.	3
	Section 2.   	Servicing of the Mortgage Loan.	24
	Section 3.   	Priority of Payments.	35
	Section 4.   	Workout.	36
	Section 5.   	Administration of the Mortgage Loan.	36
	Section 6.   	Rights of the Controlling Note Holder.	41
	Section 7.   	Appointment of Special Servicer.	44
	Section 8.   	Payment Procedure.	44
	Section 9.   	Limitation on Liability of the Note Holders.	46
	Section 10.   	Bankruptcy.	46
	Section 11.   	Representations of the Note Holders.	47
	Section 12.   	No Creation of a Partnership or Exclusive Purchase Right.	47
	Section 13.   	Other Business Activities of the Note Holders.	48
	Section 14.   	Sale of the Notes.	48
	Section 15.   	Registration of the Notes and Each Note Holder.	51
	Section 16.   	Governing Law; Waiver of Jury Trial.	52
	Section 17.   	Submission To Jurisdiction; Waivers.	52
	Section 18.   	Modifications.	52
	Section 19.   	Statement of Intent.	53
	Section 20.   	Successors and Assigns; Third Party Beneficiaries.	53
	Section 21.   	Counterparts.	53
	Section 22.   	Captions.	53
	Section 23.   	Severability.	53
	Section 24.   	Entire Agreement.	53
	Section 25.   	Withholding Taxes.	53
	Section 26.   	Custody of Mortgage Loan Documents.	55
	Section 27.   	Cooperation in Securitization.	55
	Section 28.   	Notices.	56
	Section 29.   	Broker.	57
	Section 30.   	Certain Matters Affecting the Agent.	57
	Section 31.   	Reserved.	57
	Section 32.   	Resignation or Termination of Agent.	57
	Section 33.   	Resizing.	58

 

    	 	-i-	 

     

    

This AGREEMENT BETWEEN
NOTE HOLDERS (this “Agreement”), dated as of December 12, 2019 by and between UBS AG, by and through its branch
office at 1285 Avenue of the Americas, New York, New York (“UBS AG, New York Branch” (together with its successors
and assigns in interest, as initial owner of Note A-1 described below, in its capacity as the “Initial Note A-1 Holder”
and, in its capacity as the initial agent, the “Initial Agent”)), UBS AG, New York Branch (together with its
successors and assigns in interest, as initial owner of Note A-2 described below, in its capacity as the “Initial Note
A-2 Holder”), UBS AG, New York Branch (together with its successors and assigns in interest, as initial owner of Note
A-3 described below, in its capacity as the “Initial Note A-3 Holder”), UBS AG, New York Branch (together with
its successors and assigns in interest, as initial owner of Note A-4 described below, in its capacity as the “Initial
Note A-4 Holder”) and UBS AG, New York Branch (together with its successors and assigns in interest, as initial owner
of Note A-5 described below, in its capacity as the “Initial Note A-5 Holder”); the Initial Note A-1 Holder,
the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial A-4 Holder and the Initial A-5 Holder are referred to collectively
herein as the “Initial Note Holders”).

W I T N E S S E T H:

WHEREAS, pursuant
to the Mortgage Loan Agreement (as defined herein), UBS AG, New York Branch originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage
loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced, inter
alia, by five promissory notes, each dated as of the respective dates set forth in Exhibit A hereto: (i) one promissory note
designated Promissory Note A-1 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal
amount of $10,000,000, (ii) one promissory note designated Promissory Note A-2 made by the Mortgage Loan Borrower in favor of UBS
AG, New York Branch in the original principal amount of $10,000,000, (iii) one promissory note designated Promissory Note
A-3 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal amount of $10,000,000, (iv)
one promissory note designated as Promissory Note A-4 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in
the original principal amount of $10,000,000 and (v) one promissory note designated as Promissory Note A-5 made by the Mortgage
Loan Borrower in favor of UBS AG, New York Branch in the original principal amount of $6,800,000. The note referenced in clause (i)
of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-1”; the note
referenced in clause (ii) of the preceding sentence, as amended, modified or supplemented, is referred to herein as
“Note A-2”; the note referenced in clause (iii) of the preceding sentence, as amended, modified
or supplemented, is referred to herein as “Note A-3”; the note referenced in clause (iv) of the
preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-4”, and the note
referenced in clause (v) of the preceding sentence, as amended, modified or supplemented, is referred to herein as
“Note A-5”. Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 are collectively referred to herein
as the “Notes”. The Notes are secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”);

    	 	-1-	 

     

    

WHEREAS, the Initial
Note A-2 Holder and the Initial Note A-3 Holder each intends to sell, transfer and assign its respective right, title and interest
in and to Note A-2 and Note A-3 to Credit Suisse Commercial Mortgage Securities Corp. (“CSCMS”) pursuant to
a Mortgage Loan Purchase Agreement expected to be entered into in connection with the CSAIL 2019-C18 Commercial Mortgage Pass-Through
Certificates, Series 2019-C18 transaction, between CSCMS, as purchaser, and the Initial Note A-2 Holder and the Initial Note A-3
Holder, as seller, and CSCMS intends to transfer its right, title and interest in and to Note A-2 and Note A-3 to Wells Fargo Bank,
National Association, as trustee for CSAIL 2019-C18 Commercial Mortgage Trust under a pooling and servicing agreement, expected
to be dated as of December 1, 2019 (the “Note A-2 PSA”), among CSCMS, as depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Wells Fargo
Bank, National Association, as trustee and as certificate administrator and Pentalpha Surveillance LLC, as operating advisor and
as asset representations reviewer;

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

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

Section 1.   Definitions. References to a “Section” or the “recitals” are, unless otherwise specified,
to a Section or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall have the meaning ascribed
thereto in the Lead Securitization Servicing Agreement. Whenever used in this Agreement, the following terms shall have the respective
meanings set forth below unless the context clearly requires otherwise. Whenever a term is defined as having the meaning set forth
in the Lead Securitization Servicing Agreement, it shall be deemed to refer to the definition of such term (or if no such definition
exists, the definition of any term substantially similar thereto) as is set forth in the Lead Securitization Servicing Agreement.

“Acceptable
Insurance Default” shall have the meaning set forth in the Lead Securitization Servicing Agreement.

“Advances”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.

“Affiliate”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.

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

“Agent Office”
shall mean the designated office of the Agent, which office, as of the date of this Agreement, is the office of the Initial Note
A-1 Holder listed on Exhibit B hereto, and which is the address to which notices to and correspondence with the Agent should
be

    	 	-2-	 

     

    

directed. The Agent may change the address
of its designated office by notice to the Note Holders.

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

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

“Asset Review”
shall mean any review of representations and warranties conducted by a Non-Lead Asset Representations Reviewer, as contemplated
by Item 1101(m) of Regulation AB.

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

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

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

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

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

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

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

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

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

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

“Controlling
Note” shall mean Note A-1.

    	 	-3-	 

     

    

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is
included in a Securitization, the rights of the “Controlling Note Holder” may be exercised by the holders of the majority
of the class of securities issued in the Lead Securitization designated as the “controlling class” or such other class(es)
or party otherwise assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to
the extent provided in the Lead Securitization Servicing Agreement. If at any time 50% or more of the Controlling Note is held
by the Mortgage Loan Borrower or a Mortgage Borrower Related Party, the Controlling Note Holder (and such party assigned the rights
to exercise the rights of the “Controlling Note Holder” as described above) shall not be entitled to exercise any rights
of the Controlling Note Holder and neither the Controlling Note Holder nor any other person shall be entitled to exercise the rights
of the Controlling Note Holder (and if the Controlling Note is included in a Securitization the related Securitization Servicing
Agreement may contain additional limitations on the rights of the Controlling Note Holder that can be exercised by a certificateholder
that is the Mortgage Loan Borrower or has certain relationships with the Mortgage Loan Borrower).

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

“Custodian”
shall mean the custodian under the Lead Securitization Servicing Agreement.

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

“Depositor”
shall mean (i) with respect to the Note A-1 Securitization, the depositor under the Note A-1 PSA, (ii) with respect to
the Note A-2 Securitization, the depositor under the Note A-2 PSA, (iii) with respect to the Note A-3 Securitization, the depositor
under the Note A-3 PSA, (iv) with respect to the Note A-4 Securitization, the depositor under the Note A-4 PSA, and (v) with respect
to the Note A-5 Securitization, the depositor under the Note A-5 PSA.

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

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

“First Securitization”
shall mean the earliest to occur of the Note A-1 Securitization, the Note A-2 Securitization, the Note A-3 Securitization, the
Note A-4 Securitization and the Note A-5 Securitization.

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

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

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

    	 	-4-	 

     

    

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

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

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

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

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

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

“Interested
Person” shall mean the Depositor, any Non-Lead Depositor, the Master Servicer, any Non-Lead Master Servicer, the Special
Servicer, any Non-Lead Special Servicer, the Trustee, any Non-Lead Trustee, any Mortgage Loan Borrower, any manager of any Mortgaged
Property, any independent contractor engaged by any of the foregoing parties, the Operating Advisor, the Non-Lead Operating Advisor,
the Controlling Note Holder, the Controlling Note Holder Representative, any Non-Controlling Note Holder, any Non-Controlling Note
Holder Representative, any holder of a related mezzanine loan, or any known Affiliate of any such party described above.

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

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

    	 	-5-	 

     

    

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

“Lead Securitization”
shall mean (a) if the First Securitization is also the Note A-1 Securitization, such First Securitization and (b) if the First
Securitization is not also the Note A-1 Securitization, then (i) for the period from the closing date of the First Securitization
until the Note A-1 Securitization Date, the First Securitization and (ii) on and after the Note A-1 Securitization Date, the Note
A-1 Securitization.

“Lead Securitization
Controlling Class Representative” shall mean the “Controlling Class Representative” as defined in the Lead
Securitization Servicing Agreement.

“Lead Securitization
Note” shall mean (a) during the period from and after the Securitization of any Note (other than Note A-1) but prior
to the Note A-1 Securitization Date, the Note to be contributed to the First Securitization; and (b) on and after the Note A-1
Securitization Date, Note A-1.

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

“Lead Securitization
Servicing Agreement” shall mean, as of any date of determination, the pooling and servicing agreement that governs the
Securitization that is then the Lead Securitization; provided, that during any period that the Mortgage Loan is no longer subject
to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall
be determined in accordance with the second paragraph of Section 2(a).

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

“Major Decisions”
shall mean each “Major Decision” as defined in the Lead Securitization Servicing Agreement.

“Master Servicer”
shall mean the master servicer related to the Mortgage Loan under the Lead Securitization Servicing Agreement.

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

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

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

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

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

    	 	-6-	 

     

    

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of October 4, 2019, between UBS AG, New York Branch, as
lender, and the Mortgage Loan Borrower, as the same may be further amended, restated, supplemented or otherwise modified from time
to time, subject to the terms hereof.

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

“Mortgage
Loan Borrower Related Party” shall have the meaning assigned to such term in Section 13.

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

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

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

“New Notes”
shall have the meaning assigned to such term in Section 33.

“Non-Controlling
Note” means each of Note A-2, Note A-3, Note A-4, Note A-5 and any New Note designated as a “Non-Controlling Note”
hereunder pursuant to Section 33.

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s respective
Note is included in a Securitization, the consultation and other rights of the “Non-Controlling Note Holder” herein
may be exercised by the directing certificateholder under the Non-Lead Securitization Servicing Agreement or any other party assigned
the rights to exercise the rights of a “Non-Controlling Note Holder” hereunder as and to the extent provided in the
related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the
Master Servicer and the Special Servicer) has been given written notice. If at any time 50% or more of a Non-Controlling Note is
held by (or the majority “controlling class” holder or other party assigned the rights to exercise the rights of such
“Non-Controlling Note Holder” (as described above) is) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan
Borrower, such Non-Controlling Note Holder shall not be entitled to exercise any rights of the Non-Controlling Note Holder and
neither any Non-Controlling Note Holder nor any other person shall be entitled to exercise the rights of such Non-Controlling Note
Holder.

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

“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file with
the Agent for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by law and
which, pursuant to applicable provisions of (A) any income tax treaty between the United States and the country

    	 	-7-	 

     

    

of residence of such Person, (B) the
Code or (C) any applicable rules or regulations in effect under clauses (A) or (B) above, permit any Servicer
on behalf of the Note Holders to make such payments free of any obligation or liability for withholding.

“Non-Lead
Asset Representations Reviewer” shall mean the party acting as “asset representations reviewer” (within the
meaning of Item 1101(m) of Regulation AB) under any Non-Lead Securitization Servicing Agreement.

“Non-Lead
Certificate Administrator” shall mean the “certificate administrator” under any Non-Lead Securitization Servicing
Agreement.

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

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

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

“Non-Lead
Securitization” shall mean, (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization, the Note
A-3 Securitization, the Note A-4 Securitization and the Note A-5 Securitization, as applicable and (ii) prior to the Note A-1 Securitization
Date, any Securitization other than the First Securitization.

“Non-Lead
Securitization Determination Date” shall mean the “determination date” (or any term substantially similar
thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

“Non-Lead
Securitization Note” shall mean any Note included in a Non-Lead Securitization.

“Non-Lead
Securitization Note Holders” shall mean any holder of a Non-Lead Securitization Note.

“Non-Lead
Securitization Servicing Agreement” shall mean the servicing agreement for the related Non-Lead Securitization.

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

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

“Non-Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is not a Securitizing Note Holder with
respect to such Securitization.

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

    	 	-8-	 

     

    

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

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

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

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

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

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

“Note A-1
Special Servicer” shall mean the special servicer under the Note A-1 PSA.

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

“Note A-1
Trust Fund” shall mean the trust formed pursuant to the Note A-1 PSA.

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

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

“Note A-2
Master Servicer” shall mean the master servicer under the Note A-2 PSA.

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

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

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

    	 	-9-	 

     

    

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

“Note A-2
Special Servicer” shall mean the special servicer under the Note A-2 PSA.

“Note A-2
Trustee” shall mean the trustee under the Note A-2 PSA.

“Note A-2
Trust Fund” shall mean the trust formed pursuant to the Note A-2 PSA.

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

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

“Note A-3
Master Servicer” shall mean the master servicer under the Note A-3 PSA.

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

“Note A-3
PSA” shall mean the pooling and servicing agreement entered into in connection with the Note A-3 Securitization.

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

“Note A-3
Securitization Date” shall mean the closing date of the Note A-3 Securitization.

“Note A-3
Special Servicer” shall mean the special servicer under the Note A-3 PSA.

“Note A-3
Trustee” shall mean the trustee under the Note A-3 PSA.

“Note A-3
Trust Fund” shall mean the trust formed pursuant to the Note A-3 PSA.

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

“Note A-4
Holder” shall mean the Initial Note A-4 Holder or any subsequent holder of Note A-4, as applicable.

“Note A-4
Master Servicer” shall mean the master servicer under the Note A-4 PSA.

    	 	-10-	 

     

    

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

“Note A-4
PSA” shall mean the pooling and servicing agreement entered into in connection with the Note A-4 Securitization.

“Note A-4
Securitization” shall mean the first sale by the Note A-4 Holder of all or a portion of Note A-4 to a depositor who will
in turn include such portion of Note A-4 as part of the securitization of one or more mortgage loans.

“Note A-4
Securitization Date” shall mean the closing date of the Note A-4 Securitization.

“Note A-4
Special Servicer” shall mean the special servicer under the Note A-4 PSA.

“Note A-4
Trustee” shall mean the trustee under the Note A-4 PSA.

“Note A-4
Trust Fund” shall mean the trust formed pursuant to the Note A-4 PSA.

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

“Note A-5
Holder” shall mean the Initial Note A-5 Holder or any subsequent holder of Note A-5, as applicable.

“Note A-5
Master Servicer” shall mean the master servicer under the Note A-5 PSA.

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

“Note A-5
PSA” shall mean the pooling and servicing agreement entered into in connection with the Note A-5 Securitization.

“Note A-5
Securitization” shall mean the first sale by the Note A-5 Holder of all or a portion of Note A-5 to a depositor who will
in turn include such portion of Note A-5 as part of the securitization of one or more mortgage loans.

“Note A-5
Securitization Date” shall mean the closing date of the Note A-5 Securitization.

“Note A-5
Special Servicer” shall mean the special servicer under the Note A-5 PSA.

    	 	-11-	 

     

    

“Note A-5
Trustee” shall mean the trustee under the Note A-5 PSA.

“Note A-5
Trust Fund” shall mean the trust formed pursuant to the Note A-5 PSA.

“Note Holder
Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative,
as applicable (including any Lead Securitization Controlling Class Representative and any “directing certificateholder”,
“controlling class representative” or similar person acting pursuant to a Securitization Servicing Agreement on behalf
of the Controlling Note Holder or the Non-Controlling Note Holder, as the case may be).

“Note Holders”
shall mean collectively, the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder.

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

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

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

“Operating
Advisor” shall mean the trust advisor, operating advisor or other analogous term appointed as provided in the Lead Securitization
Servicing Agreement.

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

“Percentage
Interest” shall mean, (a) with respect to the Note A-1 Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note
A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance, (b) with
respect to the Note A-2 Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-2 Principal Balance
and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance, (c) with respect to the Note A-3 Holder, a fraction,
expressed as a percentage, the numerator of which is the Note A-3 Principal Balance and the denominator of which is the sum of
the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance
and the Note A-5 Principal Balance, (d) with respect to the Note A-4 Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-4 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note
A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance and
(e) with respect to the Note A-5 Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-5 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note
A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance.

    	 	-12-	 

     

    

 

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

“Person”
shall mean 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.

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

“Pro Rata
and Pari Passu Basis” shall mean with respect to the Notes and the Note Holders, the allocation of any particular payment,
collection, cost, expense, liability or other amount between such Notes or such Note Holders, as the case may be, without any priority
of any such Note or any such Note Holder over another such Note or Note Holder, as the case may be, and in any event such that
each Note or Note Holder, as the case may be, is allocated its respective Percentage Interest of such particular payment, collection,
cost, expense, liability or other amount.

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

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

(b)              
the trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CLO comprised of,
or other securitization vehicle involving, assets deposited or transferred by a Note Holder and/or one or more Affiliates (whether
with assets from others or not), provided that the securities issued in connection with such CLO or other securitization
vehicle are rated by each of the Rating Agencies that assigned a rating to one or more classes of securities issued in connection
with the Lead Securitization, or

(c)               
one or more of the following:

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

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

    	 	-13-	 

     

    

(1), (2), (3) or (7) of Regulation
D under the Securities Act of 1933, as amended, or

(iii)               
a Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized loan obligations
(“CLO”), or (c) a financing through an “owner trust” of, a Note or any interest therein (any
of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes of securities
issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies that assigned
a rating to one or more classes of securities issued in connection with that Securitization (it being understood that with respect
to any Rating Agency that assigned such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation
will not be required in connection with a transfer of such Note or any interest therein to such Securitization Vehicle (and, if
DBRS is not one of such Rating Agencies, the special servicer for the Securitization Vehicle is an Approved Servicer)); (2) in
the case of a Securitization Vehicle that is not a CLO, the special servicer of such Securitization Vehicle has a Required Special
Servicer Rating or is otherwise subject to Rating Agency Confirmation from the Rating Agencies rating each Securitization (such
entity, an “Approved Servicer”) and such Approved Servicer is required to service and administer such Note or
any interest therein in accordance with servicing arrangements for the assets held by the Securitization Vehicle which require
that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction or instruction from
any other Person; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable,
each Intervening Trust Vehicle that is not administered and managed by a CLO Asset Manager which is a Qualified Institutional Lender,
are each a Qualified Institutional Lender under clauses (i), (ii), (iv) or (v) of this definition, or

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

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

in the case of any entity referred
to in clause (c)(i), (ii), (iii), (iv)(B) or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory
surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary)

    	 	-14-	 

     

    

and at least $600,000,000 in total
assets (in name or under management), and (y) is regularly engaged in the business of making or owning commercial real estate
loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning or operating commercial
real estate properties; provided that, in the case of the entity described in clause (iv)(B) above, the requirements
of this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day
management and operation of such entity; or

(d)              
any entity Controlled by any of the entities described in clause (c)(i), (ii), (iv)(B) or (v) above or that is the
subject of a Rating Agency Confirmation as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating
Agencies engaged by the Depositor and any Non-Lead Depositor to rate the securities issued by the related Securitization Trust.

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

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

“Rating Agency
Communication” shall mean, with respect to any action and any Securitization, any written communication intended for
a Rating Agency, which shall be delivered at least ten (10) Business Days prior to completing such action, in electronic document
format suitable for website posting to the 17g-5 information provider under the applicable Securitization Servicing Agreement.

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing by each of the applicable Rating
Agencies for such Securitization that the occurrence of the event with respect to which such Rating Agency Confirmation is sought
shall not result in a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating Agency
to any of the securities issued pursuant to such Securitization that are then outstanding. If no such securities are outstanding
with respect to any Securitization, any action that would otherwise require a Rating Agency Confirmation shall instead require
the

    	 	-15-	 

     

    

consent of the Lead Securitization Note
Holder, which consent shall not be unreasonably withheld or delayed. For the purposes of this Agreement, if any Rating Agency shall
waive, decline or refuse to review or otherwise engage any request for Rating Agency Confirmation hereunder, such waiver, declination,
or refusal shall be deemed to eliminate, for such request only, the condition that a Rating Agency Confirmation by such Rating
Agency (only) be obtained for purposes of this Agreement. For purposes of clarity, any such waiver, declination or refusal to review
or otherwise engage in any request for a Rating Agency Confirmation hereunder shall not be deemed a waiver, declination or refusal
to review or otherwise engage in any subsequent request for a Rating Agency Confirmation hereunder and the condition for Rating
Agency Confirmation pursuant to this Agreement for any subsequent request shall apply regardless of any previous waiver, declination
or refusal to review or otherwise engage in such prior request.

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

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

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

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

“REO Property”
shall have the meaning assigned to the term “REO Property” or such other analogous term used in the Lead Securitization
Servicing Agreement.

“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”
or better, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage
Special Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans
included in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior
to the date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial
mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer
as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by
Morningstar equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a
ranking with respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan

    	 	-16-	 

     

    

securitization that was rated by a Rating
Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not downgraded or withdrawn
the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on
watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities, (v) in the case
of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade
or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS,
such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within
the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating
on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation
of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or
withdrawal.

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

“Scheduled
Interest Payment” shall mean the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

“Scheduled
Principal Payment” shall mean the scheduled payment of principal due on the Mortgage Loan on a Monthly Payment Date.

“Securitization”
shall mean the Note A-1 Securitization, the Note A-2 Securitization, the Note A-3 Securitization, the Note A-4 Securitization
and the Note A-5 Securitization, as applicable.

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

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

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

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

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

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

    	 	-17-	 

     

    

“Servicer
Termination Event” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at
any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous
concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this
Agreement.

“Servicing
Advance” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that
the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept
under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

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

“Special
Servicer” shall mean the special servicer or excluded mortgage loan special servicer, as applicable, appointed as provided
in the Lead Securitization Servicing Agreement.

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

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

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

“UBS AG,
New York Branch” shall have the meaning assigned to such term in the preamble to this Agreement.

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

Section 2.    Servicing of the Mortgage Loan.

(a)               
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced
by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing

    	 	-18-	 

     

    

Agreement; provided that the
Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other than the
Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance
delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance
and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement. Each
Note Holder acknowledges that any other Note Holder may elect, in its sole discretion, to include its Note in a Securitization
and agrees that it will, subject to Section 27, reasonably cooperate with such other Note Holder, at such other Note Holder’s
expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably
and unconditionally consents to the appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing
Agreement by the Depositor and the appointment of the Special Servicer as the initial Special Servicer by the Controlling Note
Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the
Mortgage Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master Servicer,
the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents
reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization
Servicing Agreement (subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing
Agreement). The Lead Securitization Servicing Agreement shall not require the Servicer to enforce the rights of one Note Holder
against the other Note Holder, and shall not limit the Servicer in enforcing the rights of one Note Holder against any other Note
Holder as may be required in order to service the Mortgage Loan as contemplated by this Agreement and the Lead Securitization Servicing
Agreement; provided, that it is also understood and agreed that nothing in this sentence shall be construed to otherwise
limit the rights of one Note Holder with respect to any other Note Holder. Each Servicer shall be required pursuant to the Lead
Securitization Servicing Agreement (i) to service the Mortgage Loan in accordance with the Servicing Standard, the terms of
the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, (ii) to provide information to
each servicer under each Non-Lead Securitization Servicing Agreement necessary to enable each such servicer to perform its servicing
duties under such Non-Lead Securitization Servicing Agreement, and (iii) to not take any action or refrain from taking any
action or follow any direction inconsistent with the foregoing.

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, that if a Non-Lead Securitization Note is in a Securitization and the servicer(s) to be appointed under such replacement
servicing agreement would not otherwise meet the conditions to be a servicer under the Lead Securitization Servicing Agreement
that is being replaced, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to the
securities issued in connection with such Securitization for such Non-Lead Securitization Note; provided, further,
that until a replacement servicing agreement has been entered into, the Lead Securitization Note Holder shall cause the Mortgage
Loan to be serviced pursuant to the

    	 	-19-	 

     

    

provisions of the Lead Securitization
Servicing Agreement, as if such agreement were still in full force and effect with respect to the Mortgage Loan, by the applicable
Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is an Approved Servicer.
The Note Holders acknowledge that at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization
Servicing Agreement, the Master Servicer shall have no further obligation to make P&I Advances with respect to the Mortgage
Loan.

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

In addition, any Non-Lead
Securitization Note Holder (including, but not limited to, any Securitization Trust into which such Non-Lead Securitization Note
is deposited) shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse
the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share of any fees, costs or expenses
incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the Depositor or CREFC®, as applicable,
is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, to the extent amounts on deposit in the related
Serviced Companion Loan Custodial Account are insufficient for reimbursement of such amounts. Each Non-Lead Securitization Note
Holder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following
parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing
Agreement) each of the Depositor

    	 	-20-	 

     

    

under the Lead Securitization Servicing
Agreement, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Operating Advisor (and
any director, officer, member, manager, employee or agent of any of the foregoing, to the extent such parties are identified as
indemnified parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) (the “Indemnified
Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan and
the Mortgaged Property (or, with respect to the Operating Advisor, incurred in connection with the provision of services for the
Mortgage Loan) under the Lead Securitization Servicing Agreement (collectively, the “Indemnified Items”) to
the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the related Serviced
Companion Loan Custodial Account are insufficient for reimbursement of such amounts, each Non-Lead Securitization Note Holder shall
be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the
applicable Indemnified Parties for its pro rata share of the insufficiency; provided, that a Non-Lead Securitization
Note Holder’s duty to pay Indemnified Items to the Operating Advisor shall be subject to any limitations and conditions (including
limitations and conditions with respect to the timing of such payments and the sources of funds for such payments) as may be set
forth from time to time in a Non-Lead Securitization Servicing Agreement with respect to the Non-Lead Operating Advisor.

Any Non-Lead Master
Servicer (or Non-Lead Trustee (if not made by such Non-Lead Master Servicer)) may be required to make P&I Advances on the respective
Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead Securitization Servicing Agreement,
the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable,
shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization
Note based on the information that they have on hand and in accordance with the Lead Securitization Servicing Agreement. Any Non-Lead
Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization Servicing Agreement, as applicable,
shall each be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the related
Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related Non-Lead Securitization
Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any Non-Lead Master Servicer or Non-Lead Trustee,
as applicable, shall each be required to notify the other of the amount of its P&I Advance within two (2) Business Days of
making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization
Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization
Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would
be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that
a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable, then
the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or such Non-Lead Master Servicer or Non-Lead
Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of the a determination of non-

    	 	-21-	 

     

    

recoverability by a Non-Lead Master
Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the related Non-Lead
Master Servicer and the related Non-Lead Trustee, as the case may be, of such other Securitization within two (2) Business Days
of making such determination. Each of the Master Servicer and the Trustee, any Non-Lead Master Servicer and any Non-Lead Trustee,
as applicable, shall only be entitled to reimbursement for a P&I Advance and Advance Interest thereon that becomes non-recoverable
first, from the related Serviced Companion Loan Custodial Account from amounts allocable to the Note for which such P&I
Advance was made, and then, if such funds are insufficient, (i) in the case of the Lead Securitization Note, from general
collections of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in
the case of a Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent
provided in the related Non-Lead Securitization Servicing Agreement.

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

(i)               
such Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Servicing Advances that
are Nonrecoverable Advances (and Advance Interest thereon) and any additional trust fund expenses under the Lead Securitization
Servicing Agreement, but only to the extent that they relate to servicing and administration of the Notes and the Mortgaged Property,
including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that
in the event that the funds received with respect to each respective Note are insufficient to cover such Servicing Advances or
additional trust fund expenses, (x) the related Non-Lead Master Servicer will be required to, promptly following notice from
the Master Servicer, the Special Servicer or the Trustee, pay or reimburse, pay or reimburse the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, out of general collections in the collection account (or equivalent
account) established under such Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s
pro rata share of any such Servicing Advances that are Nonrecoverable Advances and/or additional trust fund expenses under
the Lead Securitization Servicing Agreement relating to the Mortgage Loan, and (y) if the Lead Securitization Servicing Agreement
permits the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor to reimburse
itself from the Lead Securitization Trust’s general collections, then the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Operating Advisor, as applicable, may do so and the related Non-Lead Master Servicer will be
required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, pay or reimburse the Lead
Securitization Trust out of general collections in the collection account (or equivalent account) established under such Non-Lead
Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing
Advances that are Nonrecoverable Advances (and Advance Interest thereon) and/or additional trust fund expenses under the Lead Securitization
Servicing Agreement relating to the Mortgage Loan;

    	 	-22-	 

     

    

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

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

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

(d)              
Following the Securitization of one Note, but prior to the Securitization of any other particular Note (including any New
Note), all notices, reports, information or other deliverables required to be delivered to a Note Holder pursuant to this Agreement
or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) only need to be delivered to the related Note Holder (or its Note Holder Representative) and, when so delivered
to such Note Holder (or Note Holder Representative, as applicable), the Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items
hereunder or under the Lead Securitization Servicing Agreement. Following the Securitization of any Note (including any New Note),
as applicable, all notices, reports, information or other deliverables required to be delivered to a

    	 	-23-	 

     

    

Note Holder pursuant to this Agreement
or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall be delivered to the master servicer and the special servicer with respect to such Securitization (who
then may forward such items to the party entitled to receive such items as and to the extent provided in the related Securitization
Servicing Agreement or with respect to a Note that has not been securitized, the related Note Holder) and, when so delivered to
such master servicer and the special servicer, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under
the Lead Securitization Servicing Agreement; provided, however, that all items that relate to a Non-Lead Depositor’s
compliance with any applicable securities laws shall also be delivered to such Non-Lead Depositor.

(e)               
In addition to the foregoing, each Securitization Servicing Agreement shall contain terms and conditions that are customary
for securitization transactions involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code
relating to the tax elections of the trust fund formed pursuant to such Securitization Servicing Agreement, (ii) required
by law or changes in any law, rule or regulation or (iii) requested by the Rating Agencies rating the related Securitization.
Each Non-Lead Securitization Note Holder shall have the right to designate the Non-Lead Master Servicer and Non-Lead Special Servicer
with respect to the Securitization related to its Note, as long as each such Servicer satisfies the conditions to be the master
servicer or special servicer, as applicable, set forth in the Lead Securitization Servicing Agreement. Without limiting the generality
of any provision set forth above, for purposes of the Mortgage Loan, each Securitization Servicing Agreement shall contain provisions
substantially similar in all material respects to or materially consistent with those set forth in the pooling and servicing agreement
for the Lead Securitization with respect to indemnification of the Depositor, Master Servicer, Special Servicer, Certificate Administrator,
Trustee and Operating Advisor under the Lead Securitization Servicing Agreement (and any director, officer, employee or agent of
any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization Servicing Agreement
in respect of other mortgage loans) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments
and any other costs, liabilities, fees and expenses incurred in connection with servicing and administration of the Mortgage Loan
(or, with respect to the related operating advisor, incurred in connection with the provision of services for the Mortgage Loan)
to the same extent that the Indemnified Parties are indemnified under the Lead Securitization Servicing Agreement against the Indemnified
Items.

(f)               
The Lead Securitization Note Holder shall cause the Lead Securitization Servicing Agreement to contain provisions requiring
the Master Servicer or the Special Servicer, as applicable, to deliver to any Non-Lead Master Servicer, any Non-Lead Special Servicer
and any Non-Lead Trustee (i) notice of any Appraisal Event promptly following the occurrence thereof and (ii) a statement of any
Appraisal Reduction or Collateral Deficiency Amount (if the Lead Securitization Servicing Agreement provides for calculation of
any Collateral Deficiency Amount) promptly following the calculation thereof.

(g)              
The Lead Securitization Note Holder agrees that it shall cause the Lead Securitization Servicing Agreement to provide as
follows (and to the extent such following

    	 	-24-	 

     

    

provisions are not included in the Lead
Securitization Servicing Agreement, they shall be deemed incorporated therein and made a part thereof):

(i)               
the Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer and each Non-Lead
Trustee of any P&I Advance it has made with respect to the Lead Securitization Note within two (2) business days of making
such advance;

(ii)               
if the Master Servicer determines that a proposed P&I Advance with respect to the Lead Securitization Note or Servicing
Advances with respect to the Mortgage Loan, if made, or any outstanding P&I Advance or Servicing Advances previously made,
would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide each Non-Lead Master Servicer written
notice of such determination within two (2) business days after such determination was made;

(iii)               
the Master Servicer shall remit all payments received with respect to each Non-Lead Securitization Note, net of the servicing
fees payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable
fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the applicable Non-Lead Securitization
Note Holder by the earlier of (x) the “master servicer remittance date” (or any term substantially similar thereto)
as defined in the Lead Securitization Servicing Agreement and (y) the business day following the “determination date”
(or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement (such determination
date, the “Non-Lead Securitization Determination Date”), in each case as long as the date on which remittance is required
under this clause (iii) is at least one business day after the scheduled monthly payment date under the Loan Agreement;

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

(v)               
the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement
shall include the duty to service the Mortgage Loan and all of the Notes on behalf of the Note Holders (including the respective
trustees and certificateholders) in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing
Agreement and the Servicing Standard;

    	 	-25-	 

     

    

(vi)               
each Non-Lead Securitization Note Holder shall be entitled to the same indemnity as the Lead Securitization Note Holder
under the Lead Securitization Servicing Agreement with respect to the following items; each of the Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, and the Custodian shall be required to indemnify each
certifying person and each Non-Lead Depositor for any public Other Securitization Trust, and their respective directors and officers
and controlling persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization)
and each certifying person for (a) its failure to deliver the items in clause (vii) below in a timely manner, (b) its failure
to perform its obligations to such Non-Lead Depositor or applicable Non-Lead Trustee under Article XI (or any article substantially
similar thereto that addresses Exchange Act reporting and Regulation AB compliance) of the Lead Securitization Servicing Agreement
by the time required after giving effect to any applicable grace period or cure period, (c) the failure of any Servicing Function
Participant or Additional Servicer retained by it (other than any Initial Sub-Servicer) to perform its obligations to such Non-Lead
Depositor or Non-Lead Trustee under Article XI (or any article substantially similar thereto that addresses Exchange Act reporting
and Regulation AB compliance) of the Lead Securitization Servicing Agreement by the time required after giving effect to any applicable
grace period or cure period; and/or (d) any deficient Exchange Act report regarding, and delivered by or on behalf of, such party;

(vii)               
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 Loan, cause such party to comply with the foregoing Section 2(h)(vi) by inclusion of similar provisions in the
related sub-servicing or similar agreement;

(viii)               
the Master Servicer, any primary servicer, the Special Servicer and the Lead Trustee, Certificate Administrator or other
party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other servicer
and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver), to the parties to each Non-Lead Servicing Agreement, in a timely manner, (i) the reports, certifications, compliance
statements, accountants’ assessments and attestations, any Lead Servicing Agreement amendments, and all information (including
information regarding any replacement Servicer) to be included in reports (including, without limitation, Form ABS 15G, Form 10K,
Form 10D and Form 8K), and (ii) upon request, any other materials specified in the related Non-Lead Servicing Agreement, in the
case of clauses (i) and (ii), as the parties to each Non-Lead Securitization may reasonably require in order to comply
with their obligations under the Securities Act and the Exchange Act (including Rule 15Ga-1) and Regulation AB, and any other applicable
law. Without limiting the generality of the foregoing, the Lead Note Holder shall provide in a timely manner to each Non-Lead Depositor
and each Non-Lead Trustee a copy of the Lead Securitization Servicing Agreement in EDGAR-compatible format (but not later than
one business day

    	 	-26-	 

     

    

following the closing date of
the Lead Securitization) and each Servicer under the Lead Securitization Servicing Agreement will be required, upon prior written
request, to provide to each Non-Lead Depositor and each Non-Lead Trustee any other information required to comply in a timely manner
with applicable filing requirements under Items 1.01 and 6.02 of Form 8-K, any other disclosure information required pursuant to
Regulation AB, in each case in a timely manner for inclusion in any disclosure document (and, with respect to the Lead Securitization
Servicing Agreement and a replacement Servicer, for filing under Form 8-K), and with respect to such Servicers, upon prior written
request, at the expense of the requesting party, market indemnification agreements, opinions and Regulation AB compliance letters
as were or are being delivered with respect to the Lead Securitization. As used in this Agreement, “Regulation AB”
means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100 229.1125, as such may be
amended from time to time, and subject to such clarification and interpretation as have been provided by the United States Securities
and Exchange Commission (the “Commission”) or by the staff of the Commission, or as may be provided by the Commission
or its staff from time to time, in each case as effective from time to time as of the compliance dates specified therein. The Master
Servicer, any primary servicer and the Special Servicer shall each be required to provide certification and indemnification to
each Certifying Person with respect to the Sarbanes-Oxley Certification (or analogous terms) as such terms are defined in the applicable
Non-Lead Securitization Servicing Agreement;

(ix)               
each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall
cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable
Sub-Servicing Agreement), with each Non-Lead Depositor to the same extent as such party is required to cooperate with the Lead
Depositor under the Lead Securitization Servicing Agreement in connection with the reporting requirements under the Securities
Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder. All respective reasonable out-of-pocket
costs and expenses incurred by each Non-Lead Depositor (including reasonable legal fees and expenses of outside counsel to such
depositor) in connection with the foregoing (other than those costs and expenses related to participation by such Non-Lead Depositor
in any telephone conferences and meetings with the United States Securities and Exchange Commission (the “Commission”)
and other costs such Non-Lead Depositor must bear pursuant to the Lead Securitization Servicing Agreement) and any amendments to
any reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt
of an itemized invoice from such Non-Lead Depositor;

(x)               
any late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to a Non-Lead Securitization
Note or reimbursable to a Non-Lead Master Servicer or a Non-Lead Trustee in accordance with this Agreement shall be remitted by
the Master Servicer to the Non-Lead Master Servicer within one (1) Business Day of receipt and identification thereof unless such
amount would otherwise be included in the monthly remittance to the related Non-Lead Securitization Note Holder for such month;
provided, however, that to the extent any such amounts are received after

    	 	-27-	 

     

    

3:00 p.m. Eastern time on
any given business day, the Master Servicer shall use commercially reasonable efforts to remit such late collections to each applicable
Non-Lead Master Servicer within one (1) business day of receipt of properly identified funds but, in any event, the Master Servicer
shall remit such amounts within two (2) business days of receipt of properly identified funds;

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

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

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

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

(xv)               
to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, any Rating Agency Confirmation
shall be provided with respect to the commercial mortgage pass-through certificates issued in connection with each the Non-Lead
Securitization to the same extent provided with respect to the commercial mortgage pass-through certificates issued in connection
with the Lead Securitization;

(xvi)               
“Servicer Termination Events” (or any analogous term under the Lead Securitization Servicing Agreement) include
customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead
Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day
grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection
or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead
Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form
SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead
Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such
grace periods will not cause a Non-Lead Depositor to fail to comply with the

    	 	-28-	 

     

    

applicable provisions of such
securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead
Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement,
the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer
with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special
Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead
Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the
Special Servicer with respect to, but only with respect to, the Mortgage Loan;

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

(xviii)               
if a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization
Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the
related Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations
Reviewer with any documents reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent (x) such
documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be,
and (y) such Non-Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage
loan seller;

(xix)               
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement;
and

(xx)           
have provisions materially consistent with those set forth in the Note A-2 PSA with respect to:

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

(B) 
 the authority of the servicers in the Note A-2 Securitization to grant or agree or consent to material modifications, waivers
and amendments to the

    	 	-29-	 

     

    

Mortgage Loan, or to approve material
assignments and assumptions or material additional indebtedness in connection with the Mortgage Loan;

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

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

(E) 
 subject to various adjustments and caps provided for in the Note A-1 PSA (which shall be substantially similar to those
set forth in the Note A-2 PSA), primary servicing, special servicing, workout and liquidation fees (and, in any event, the fees
at which such compensation accrue or are determined shall not exceed 0.0025% per annum, 0.25% per annum, 1.00% and
1.00%, respectively);

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

(h)              
Unless UBS AG, New York Branch is the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and
the Note A-5 Holder, the holder of each Lead Securitization Note shall:

(i)              
on or promptly after, but in no event more than two (2) business days after, the closing date of the Lead Securitization,
send a copy (in EDGAR-compatible format) of the Lead Securitization Servicing Agreement to each other Note Holder; and

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

Section 3.   Priority of Payments. Each Note shall be of equal priority, and no portion of any Note shall have priority or preference
over any portion of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available
for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale
or distribution of any REO Property, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or
other collateral or instrument securing the Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other than proceeds, awards
or settlements to be applied to the

    	 	-30-	 

     

    

restoration or repair of the Mortgaged
Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted
by the REMIC Provisions), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata
and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents
(to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as
reimbursements on account of recoveries in respect of property protection expenses or Servicing Advances then due and payable or
reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall be applied to the extent set
forth in, and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then due, payable or reimbursable
to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement and any other additional
compensation payable to it thereunder (including without limitation, any additional trust fund expenses under the Lead Securitization
Servicing Agreement relating to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof) reimbursable
to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Penalty Charges (to the extent
provided in the immediately following paragraph), but excluding (i) any P&I Advances (and interest thereon) on the Lead Securitization
Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any Master Servicing Fees due to the Master
Servicer in excess of each Non-Lead Securitization Note’s pro rata share of that portion of such servicing fees calculated
at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing
Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in accordance
with the Lead Securitization Servicing Agreement.

For clarification
purposes, “Penalty Charges” (or analogous term as defined in the Lead Securitization Servicing Agreement) paid on each
Note shall, first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary
to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement
of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, be used to
reduce the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, any Non-Lead Master
Servicer or any Non-Lead Trustee, as applicable, for any interest accrued on any P&I Advance made with respect to such Note
by such party (if and as specified in the Lead Securitization Servicing Agreement or applicable Non-Lead Securitization Servicing
Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the
amount necessary to pay additional trust fund expenses under the Lead Securitization Servicing Agreement (other than Special Servicing
Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization
Servicing Agreement) and finally, with respect to any remaining amount of Penalty Charges, to the Master Servicer and/or
the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement. Any proceeds
received from the sale of the primary servicing rights with respect to the Mortgage Loan shall be remitted, promptly upon receipt
thereof, to the Note-Holders on a pro rata and pari passu basis. Any proceeds received by any Note-Holder from the
sale of master servicing rights with respect to its Note shall be for its own account.

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

Section 5.    Administration of the Mortgage Loan.

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

Each Note Holder hereby
acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead
Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan, to sell the Notes together as notes evidencing one
whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the Special
Servicer shall be required to sell the Notes together as notes evidencing one whole loan and shall require that all offers be

    	 	-32-	 

     

    

submitted to the Special Servicer in
writing. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on its behalf) shall
not be permitted to sell the Mortgage Loan without the written consent of each Non-Lead Securitization Note Holder (unless with
respect to each Non-Lead Securitization Note Holder, 50% or more of the related Note (or the class of securities issued in the
applicable Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned
the rights to exercise the rights of the “Controlling Note Holder” is held by the Mortgage Loan Borrower or an Affiliate
of the Mortgage Loan Borrower) unless the Special Servicer has delivered to each Non-Lead Securitization Note Holder: (a) at
least fifteen (15) Business Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten
(10) days prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received
by the Special Servicer in connection with any such proposed sale; (c) at least ten (10) days prior to the proposed sale date,
a copy of the most recent Appraisal for the Mortgage Loan, and any documents in the Servicer Mortgage File requested by such Non-Lead
Securitization Note Holder; 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 related Lead Securitization Controlling Class Representative prior to the proposed sale date,
all information and other documents being provided to other offerors and all leases or other documents that are approved by the
Master Servicer or the Special Servicer in connection with the proposed sale; provided, that such Non-Lead Securitization Note
Holder may waive (only with respect to itself) any of the delivery or timing requirements set forth in this sentence. Subject to
the foregoing, each Note Holder or its Note Holder Representative shall be permitted to submit an offer at any sale of the Mortgage
Loan unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

Each Note Holder (to
the extent it is not the same entity as the Lead Securitization Note Holder) hereby appoints the Lead Securitization Note Holder
as its agent, and grants to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and
its proxy, for the purpose of soliciting and accepting offers for and consummating the sale of its Note. Each Note Holder (to the
extent it is not the same entity as the Lead Securitization Note Holder) further agrees that, upon the request of the Lead Securitization
Note Holder, such Note Holder shall execute and deliver to or at the direction of Lead Securitization Note Holder such powers of
attorney or other instruments as the Lead Securitization Note Holder may reasonably request to better assure and evidence the foregoing
appointment and grant, in each case promptly following request, and shall deliver its original Note, endorsed in blank, to or at
the direction of the Lead Securitization Note Holder in connection with the consummation of any such sale.

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

    	 	-33-	 

     

    

sentence shall not be construed to grant
to any Non-Lead Securitization Note Holder the benefit of any representation or warranty made by the holder of the Lead Securitization
Note that sold such Lead Securitization Note into the Lead Securitization or any document delivery obligation imposed on such Person
under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may be executed
or delivered by such Person in connection with the Lead Securitization.

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

(c)               
Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide
to the Lead Securitization Controlling Class Representative pursuant to the Lead Securitization Servicing Agreement with respect
to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan, to each Non-Lead Securitization Note Holder (or its Note Holder Representative), within the same time frame it is required
to provide to the Lead Securitization Controlling Class Representative (for this purpose, without regard to whether such items
are actually required to be provided to the Lead Securitization Controlling Class Representative under the Lead Securitization
Servicing Agreement due to the expiration of the related “Subordinate Control Period” (as defined under the Lead Securitization
Servicing Agreement) or the “Collective Consultation Period” (as defined under the Lead Securitization Servicing Agreement))
and (ii) to use reasonable efforts to consult with each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
on a strictly non-binding basis, to the extent having received such notices, information and reports, such Non-Controlling Note
Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decisions or the
implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative
actions recommended by such Non-Controlling Note

    	 	-34-	 

     

    

Holder (or its Non-Controlling Note
Holder Representative); provided that after the expiration of a period of ten (10) Business Days from the delivery to such
Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) by the Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) of written notice of a proposed action, together with copies of the
notice, information and report required to be provided to the Lead Securitization Controlling Class Representative, the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult with
such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), whether or not such Non-Controlling Note
Holder (or its Non-Controlling Note Holder Representative) has responded within such ten (10) Business Day period (unless, the
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) proposes a new course of
action that is materially different from the action previously proposed, in which case such ten (10) Business Day period shall
be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding the consultation
rights of each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) set forth in the immediately preceding
sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) may take any Major
Decision or any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period
if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines that immediate action
with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization Note
Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative
actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

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

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

    	 	-35-	 

     

    

REMIC which includes the Notes (or any
portion thereof). Each Note Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC
related provisions in the Lead Securitization Servicing Agreement relating to the administration of the Mortgage Loan. All costs
and expenses of compliance with this Section 5(d), to the extent that such costs and expenses relate to administration of
a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual
payment of any REMIC tax or expense, shall be borne by all of the Note Holders collectively, each contributing on a pro rata
and pari passu basis according to the Percentage Interest represented by each Note.

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

Section 6.    Rights of the Controlling Note Holder.

(a)               
The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”).
The Controlling Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Controlling Note Holder Representative. When exercising its various rights under Section 5 and elsewhere in this Agreement,
the Controlling Note Holder may, at its option, in each case, act through the Controlling Note Holder Representative. The Controlling
Note Holder Representative may be any Person (other than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage
Loan Borrower), including, without limitation, the Controlling Note Holder, any officer or employee of the Controlling Note Holder,
any affiliate of the Controlling Note Holder or any other unrelated third party. No such Controlling Note Holder Representative
shall owe any fiduciary duty or other duty to any other Person (other than the Controlling Note Holder). All actions that are permitted
to be taken by the Controlling Note Holder under this Agreement may be taken by the Controlling Note Holder Representative acting
on behalf of the Controlling Note Holder. Any Servicer acting on behalf of the Lead Securitization Note Holder shall not be required
to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder has notified such Servicer
or Trustee of such appointment and, if the Controlling Note Holder Representative is not the same Person as the Controlling Note
Holder, the Controlling Note Holder Representative provides any Servicer or Trustee with written confirmation of its acceptance
of such appointment, an address and telecopy number for the delivery of notices and other correspondence and a list of officers
or employees of such person with whom the parties to this Agreement may deal (including their names, titles, work addresses and
telecopy numbers). The Controlling Note Holder shall promptly deliver such information to any Servicer. None of the Servicers,
Operating Advisor and Trustee shall be required to recognize any person as a Controlling Note Holder Representative until they
receive such

    	 	-36-	 

     

    

information from the Controlling Note
Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current Controlling Note Holder
Representative.

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

If the Controlling
Note Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Decision within ten (10)
Business Days (or thirty (30) days with respect to an Acceptable Insurance Default) after delivery to the Controlling Note Holder
by the applicable Servicer of written notice of a proposed Major Decision (which notice shall contain a legend, in conspicuous
boldface type, substantially similar to the following: “THIS IS A REQUEST FOR ACTION APPROVAL. IF THE CONTROLLING NOTE
HOLDER FAILS TO APPROVE OR DISAPPROVE THE ENCLOSED ACTION WITHIN TEN (10) BUSINESS DAYS, SUCH ACTION MAY BE DEEMED APPROVED”)
together with any information requested by the Controlling Note Holder as may be necessary in the reasonable judgment of the Controlling
Note Holder in order to make a judgment, then upon the expiration of such ten (10) Business Day period (or thirty (30) days with
respect to an Acceptable Insurance Default), such Major Decision shall be deemed to have been approved by the Controlling Note
Holder.

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

    	 	-37-	 

     

    

No objection, direction,
consent or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special Servicer, as
applicable, to violate any provision of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing Agreement,
this Agreement, the REMIC Provisions of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance
with the Servicing Standard.

(c)       Each
Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its
rights and obligations with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling Note
Holder Representative”). All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder
Representative set forth in the first paragraph of this Section 6(a) (except those contained in the last sentence thereof)
and the second paragraph of this Section 6(a) shall apply to each Non-Controlling Note Holder and its Non-Controlling
Note Holder Representative mutatis mutandis. Each Non-Controlling Note Holder Representative, as of the date of this Agreement
and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise, shall be
the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder and the Initial Note A-5 Holder, as applicable,
provided that at any time a Non-Lead Securitization Note is included in a Securitization, references to the “Non-Controlling
Note Holder” herein shall mean the related “Directing Certificateholder”, “Directing Holder” or “Controlling
Class Representative” (or analogous term) under the Non-Lead Securitization or any other party assigned the rights to exercise
the rights of the related “Non-Controlling Note Holder” hereunder, as and to the extent provided in the related Non-Lead
Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the Master Servicer
and the Special Servicer) has been given written notice.

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

(d)       The
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at
any time to deal with more than one party as the representative of the “controlling class” holder(s) in respect of
any Note that is exercising the rights of a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing
Agreement (it being understood for the avoidance of doubt that the Lead Securitization Note Holder (or the Master Servicer or Special
Servicer on its behalf) may additionally need to deal with the master servicer, special servicer or other person party to the related
Securitization Servicing Agreement) and to the extent that the related Securitization Servicing Agreement assigns such rights to
more than one such party as the representative of the “controlling class” holder(s), for purposes of this Agreement,
such Securitization Servicing Agreement shall designate one such party to deal with the Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) as the representative of the related “controlling class”
holder(s) in exercising its rights as a “Non-Controlling Note Holder” herein

    	 	-38-	 

     

    

or under the Lead Securitization Servicing
Agreement, and such party shall provide written notice of such designation to the Lead Securitization Note Holder (and the Master
Servicer and the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat
the last party as to which it has received written notice as having been designated as the applicable Non-Controlling Note Holder,
as the applicable Non-Controlling Note Holder under this Agreement.

(e)       No
Note Holder Representative will have any liability to any other Note Holder or any other Person for any action taken, or for refraining
from the taking of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or any
Securitization Servicing Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful
misfeasance, bad faith or gross negligence. The Note Holders agree that a Note Holder Representative may take or refrain from taking
actions, or give or refrain from giving consents, that favor the interests of one Note Holder over any other Note Holder, and that
any Note Holder Representative may have special relationships and interests that conflict with the interests of any other Note
Holder and, absent willful malfeasance, bad faith or gross negligence on the part of the Note Holder Representative, agree to take
no action against the Note Holder Representative or any of its officers, directors, employees, principals or agents as a result
of such special relationships or interests, and that no Note Holder Representative will be deemed to have been grossly negligent
or reckless, or to have acted in bad faith or engaged in willful malfeasance or to have recklessly disregarded any exercise of
its rights by reason of its having acted or refrained from acting, or having given any consent or having failed to give any consent,
solely in the interests of any Note Holder.

Section 7.   Appointment of Special Servicer. The Controlling Note Holder (or its Controlling Note Holder Representative) shall
have the right (subject to the terms, conditions and limitations in the Lead Securitization Servicing Agreement) at any time and
from time to time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint
a replacement Special Servicer that satisfies the Required Special Servicer Rating requirements in lieu thereof. Any designation
by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to serve as Special Servicer shall be
made by delivering to each other Note Holder, the Master Servicer, the Special Servicer and each other party to the Lead Securitization
Servicing Agreement a written notice stating such designation and satisfying the other conditions to such replacement as set forth
in the Lead Securitization Servicing Agreement (including, without limitation, a Rating Agency Communication or a Rating Agency
Confirmation, but only if required by the terms of the Lead Securitization Servicing Agreement), if any. The Controlling Note Holder
shall be solely responsible for any expenses incurred in connection with any such replacement without cause. The Controlling Note
Holder shall notify the other parties hereto of its termination of the then currently serving Special Servicer and its appointment
of a replacement Special Servicer in accordance with this Section 7. If the Controlling Note Holder has not appointed a Special
Servicer with respect to the Mortgage Loan as of the consummation of the securitization under the Lead Securitization Servicing
Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing Agreement shall serve as the initial
Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling Note Holder Representative)
to designate a replacement Special Servicer for the Mortgage Loan as aforesaid. If a Servicer

    	 	-39-	 

     

    

Termination Event on the part of the
Special Servicer has occurred that affects any Non-Controlling Note Holder, such Non-Controlling Note Holder shall have the right
to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling Note
Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage
Loan pursuant to and in accordance with the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges
and agrees that any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that
was terminated for cause at a Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate thereof)
that was so terminated without the prior written consent of such Non-Controlling Note Holder. Each Non-Controlling Note Holder
shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs and
expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of the Trustee, that would otherwise
be reimbursed to the Trustee from amounts on deposit in the Lead Securitization’s collection account (or equivalent account).

Section 8.    Payment Procedure.

(a)               
The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on its behalf),
in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement,
shall deposit or cause to be deposited all payments allocable to the Notes to the “Collection Account” and/or “Serviced
Companion Loan Custodial Account” (or the related analogous term and each as defined in the Lead Securitization Servicing
Agreement) pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder
(or the Master Servicer, the Special Servicer or the Trustee acting on its behalf) shall deposit such amounts to the applicable
account within one (1) Business Day of receipt of properly identified and available funds by the Lead Securitization Note Holder
(or the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent
that any payment is received after 2:00 p.m. (Eastern time) on any given Business Day, the Master Servicer is required to use commercially
reasonable efforts to deposit such payment into the applicable account within one (1) Business Day of receipt of properly identified
and available funds, but, in any event, the Master Servicer is required to deposit such payments into the applicable account within
two (2) Business Days of receipt of properly identified and available funds).

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

    	 	-40-	 

     

    

(or the Servicer acting on its behalf)
shall have been required to pay to any Mortgage Loan Borrower, Master Servicer, Special Servicer or such other Person with respect
thereto.

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

(d)              
Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to
this Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset
any amounts due hereunder from any Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments
due to such Non-Lead Securitization Note Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

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

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

Section 10.  Bankruptcy.
Subject to Section 5(c), each Note Holder hereby covenants and agrees that only the Lead Securitization Note Holder (or
the Servicer on its behalf) has the right to institute, file, commence, acquiesce, petition under Bankruptcy
Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause

    	 	-41-	 

     

    

any other Person to invoke an Insolvency
Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property
or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees
that only the Lead Securitization Note Holder, and not any Non-Lead Securitization Note Holder, can make any election, give any
consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in any case
by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby
appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an irrevocable power
of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all
actions available to any Non-Lead Securitization Note Holder in connection with any case by or against the Mortgage Loan Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute
any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect
to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The
Note Holders hereby agree that, upon the request of the Lead Securitization Note Holder, each Non-Lead Securitization Note Holder
shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and
instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing
appointment and grant. All actions taken by any Servicer in connection with any Insolvency Proceeding are subject to and must be
in accordance with the Servicing Standard and the terms of this Agreement.

Section 11.  Representations of the Note Holders. Each Note Holder represents and warrants to each other Note Holder that, as
of the date hereof (or in connection with a new Holder of a Note following a Transfer, as of the date of such Transfer):

(a)               
the execution, delivery and performance of this Agreement is within its corporate powers, has been duly authorized by all
necessary corporate action, and does not contravene such Note Holder’s charter or any law or contractual restriction binding
upon such Note Holder,

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

(c)               
it is duly organized, validly existing, in good standing and in possession of all licenses and authorizations necessary
to carry on its business,

(d)              
this Agreement has been duly executed and delivered by such Note Holder, and

    	 	-42-	 

     

    

(e)               
to such Note Holder’s actual knowledge, (A) all consents, approvals, authorizations, orders or filings of or with
any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement by such
Note Holder have been obtained or made and (B) there is no pending action, suit or proceeding, arbitration or governmental investigation
against such Note Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

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

Section 13.   Other Business Activities of the Note Holders. Each Note Holder acknowledges that each other Note Holder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or
any Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan
Borrower or Affiliate thereof or any entity any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower
Affiliate thereof or any entity (each, a “Mortgage Loan Borrower Related Party”), and receive payments on such
other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely and
without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

Section 14.   Sale of the Notes.

(a)               
Each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or
otherwise dispose of all or any portion of its respective Note (or a participation interest in such Note) (a “Transfer”)
except to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after any such Transfer, any
non-transferring Note Holders shall be provided with (x) a representation from each transferee or the transferring Note Holder
certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately
following sentence or a Transfer by a Note Holder to an entity that constitutes a Qualified Institutional Lender pursuant to clause
(c)(iii) of the definition thereof) and (y) a copy of the assignment and assumption agreement referred to in Section 15
(unless the transferee is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to
comply with this Agreement). If a Note Holder intends to Transfer its respective Note, or any portion thereof, to an entity that
is not a Qualified Institutional Lender, it must first obtain the

    	 	-43-	 

     

    

consent of each non-transferring Note
Holder and, if any such non-transferring Note Holder’s Note is held in a Securitization Trust, obtain a Rating Agency Confirmation
from each of the applicable engaged Rating Agencies for such Securitization Trust. Notwithstanding the foregoing, without each
non-transferring Note Holder’s prior consent (which will not be unreasonably withheld), and, if any such non-transferring
Note Holder’s Note is held in a Securitization Trust, without a Rating Agency from each of the applicable engaged Rating
Agencies for such Securitization, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in
such Note) to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null
and void and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it shall pay the expenses
of any non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee and any Controlling
Note Holder or Controlling Note Holder Representative) and all expenses relating to the confirmation from the Rating Agencies in
connection with any such Transfer. Notwithstanding the foregoing, unless the related Note is included in a Securitization, each
Note Holder shall have the right, without the need to obtain the consent of any other Note Holder, the Rating Agencies or any other
Person, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section
14(a) shall apply in the case of (1) a sale of Note A-1 together with Note A-2, Note A-3, Note A-4 and Note A-5 in accordance with
the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon
the Mortgage Loan becoming a Defaulted Loan, to a single member limited liability or limited partnership, 100% of the equity interest
in which is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships,
by the Lead Securitization Trust.

For the purposes
of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage any request for
a Rating Agency Confirmation, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition
that such confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For purposes of clarity, any such
waiver, declination or refusal to review or otherwise engage in any request for such confirmation hereunder shall not be deemed
a waiver, declination or refusal to review or otherwise engage in any subsequent request for such Rating Agency Confirmation hereunder
and the condition for such Rating Agency Confirmation pursuant to this Agreement for any subsequent request shall apply regardless
of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

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

    	 	-44-	 

     

    

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

    	 	-45-	 

     

    

such Note Pledgee or any transfer in
lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and
obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations
of the pledging Note Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such
Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c)
shall remain effective as to any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such
Note Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

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

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

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

(iii)             
such Note Holder pledges (or sells, transfers or assigns as part of a repurchase facility) its interest in its Note to the
Conduit as collateral for the Conduit Inventory Loan;

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

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

Section 15.   Registration of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the Agent Office books
(the “Note Register”) for the registration and transfer of the Notes. The Agent shall serve as the initial note
registrar and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes and the names and
addresses of any transferee of any Note of which the Agent has received notice, shall be registered in the Note Register. The Person
in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this
Agreement. Upon request of a Note Holder, the Agent shall provide such party with the names and addresses

    	 	-46-	 

     

    

of each other Note Holder. To the extent
the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby designates such person as its agent under
this Section 15 solely for purposes of maintaining the Note Register.

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

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

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

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

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

    	 	-47-	 

     

    

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

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

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

Section 18.    Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend
or modify this Agreement without first delivering a Rating Agency Communication to each Rating Agency then rating any securities
of any Securitization; provided that no such Rating Agency Communication shall be required in connection with a modification
(i) to cure any ambiguity, to correct any scrivener error, to correct or supplement any provisions herein that may be defective
or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, or (ii) with respect to matters
or questions arising under this Agreement to make provisions of this Agreement consistent with other provisions of this Agreement
(including without limitation, in connection with the creation of New Notes pursuant to Section 33).

Section 19.    Statement of Intent. The Agent and each Noteholder intend that the Notes be classified and maintained as a grantor
trust under subpart E, part I of subchapter J of chapter 1 of the Code that is a fixed investment trust within the meaning of Treasury
Regulation §301.7701-4(c), and the parties will not take any action inconsistent with such classification. It is neither the
purpose nor the intent of this Agreement to create a partnership, joint venture, “taxable mortgage pool” or association
taxable as a corporation among the parties.

Section 20.   Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and assigns. Except as provided herein, including without limitation, with respect
to the Trustee, Certificate Administrator, Master Servicer and Special Servicer and any Non-Lead Master Servicer, Non-Lead Special
Servicer or Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable by any Person
not a party hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights or obligations
under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the applicable Note
Holder hereunder. For the avoidance of doubt, the representations in Section 11 shall not be binding upon any Securitization
Trust.

Section 21.   Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document

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Format (PDF) or by facsimile transmission
shall be effective as delivery of a manually executed original counterpart of this Agreement.

Section 22.   Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference
only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.

Section 23.   Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws,
such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

Section 24.   Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

Section 25.   Withholding Taxes. (a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required
by law to deduct and withhold Taxes from interest, fees or other amounts payable to any Non-Lead Securitization Note Holder with
respect to the Mortgage Loan as a result of such Non-Lead Securitization Note Holder constituting a Non-Exempt Person, such Lead
Securitization Note Holder, in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead Securitization
Note Holder’s interest in such payment (all withheld amounts being deemed paid to such Note Holder), provided that
the Lead Securitization Note Holder shall furnish such Non-Lead Securitization Note Holder with a statement setting forth the amount
of Taxes withheld, the applicable rate and other information which may reasonably be requested for purposes of assisting such Note
Holder to seek any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is
subject to tax.

(b)              
Each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall and hereby agrees
to indemnify the Lead Securitization Note Holder against and hold the Lead Securitization Note Holder harmless from and against
any Taxes, interest, penalties and attorneys’ fees and disbursements arising or resulting from any failure of the Lead Securitization
Note Holder to withhold Taxes from payment made to such Note Holder in reliance upon any representation, certificate, statement,
document or instrument made or provided by such Note Holder to the Lead Securitization Note Holder in connection with the obligation
of the Lead Securitization Note Holder to withhold Taxes from payments made to such Note Holder, it being expressly understood
and agreed that (i) the Lead Securitization Note Holder shall be absolutely and unconditionally entitled to accept any such
representation, certificate, statement, document or instrument as being true and correct in all respects and to fully rely thereon
without any obligation or responsibility to investigate or to make any inquiries with respect to the accuracy, veracity, correctness
or validity of the same and (ii) such Note Holder, upon request of the Lead Securitization Note Holder and at its sole cost

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and expense, shall defend any claim
or action relating to the foregoing indemnification using counsel selected by the Lead Securitization Note Holder.

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

    	 	-50-	 

     

    

Section 26.  Custody of Mortgage Loan Documents. Prior to the Note A-1 Securitization Date, the Note A-2 Securitization Date,
the Note A-3 Securitization Date, the Note A-4 Securitization Date and the Note A-5 Securitization Date, the originals of all
of the Mortgage Loan Documents (other than Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5) will be held by the Initial Agent
on behalf of the registered holders of the Notes. If the Lead Securitization is not also the Note A-1 Securitization, then on
and after the Lead Securitization Date the originals of all of the Mortgage Loan Documents (other than Note A-1 and any other
Notes not included in such Lead Securitization) shall be held in the name of the trustee (and held by a duly appointed custodian
therefor) under the Lead Securitization Servicing Agreement on behalf of the registered holders of the Notes. On and after the
Note A-1 Securitization Date, the originals of all of the Mortgage Loan Documents (other than Note A-2, Note A-3, Note A-4 and
Note A-5, unless any such Note is also included in the A-1 Securitization) shall be transferred to and held in the name of the
trustee (and held by a duly appointed custodian therefor) under the Note A-1 PSA, on behalf of the registered holders of the Notes.

Section 27.  Cooperation in Securitization.

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

    	 	-51-	 

     

    

promptly with respect to any information
relating to such Non-Securitizing Note Holder and its Note in any Securitization document. Each Note Holder acknowledges that in
connection with any Securitization, the information provided by it in its capacity as a Non-Securitizing Note Holder to the related
Securitizing Note Holder may be incorporated into the offering documents for such Securitization. Each Securitizing Note Holder
and each Rating Agency shall be entitled to rely on the information supplied by, or on behalf of, each Non-Securitizing Note Holder.
The Securitizing Note Holder shall reasonably cooperate with each Non-Securitizing Note Holder by providing all information reasonably
requested that is in the Securitizing Note Holder’s possession in connection with such Non-Securitizing Note Holder’s
preparation of disclosure materials in connection with a Securitization.

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

(c)               
If a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization
Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate at the
Non-Lead Securitization Note Holder’s expense with such Non-Lead Asset Representations Reviewer in connection with such Asset
Review by providing such Non-Lead Asset Representations Reviewer with any documents reasonably requested by such Non-Lead Asset
Representations Reviewer, but only to the extent that such documents are in the possession of the Master Servicer, the Special
Servicer, the Trustee or the Custodian, as the case may be, and are not in the possession of the Non-Lead Asset Representations
Reviewer (and the Non-Lead Asset Representations Reviewer has informed such party that it has first requested, and not received,
the documents from the master servicer, special servicer and custodian for the applicable Non-Lead Securitization).

Section 28.           
Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall
be in writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same day
sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight
delivery service (charges prepaid) or (iv) certified United States mail, postage prepaid return receipt requested, and addressed
to the respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall
hereafter inform the other party by written notice given as aforesaid. All written notices so given shall be deemed effective upon
receipt.

Section 29.           
Broker. Each Note Holder represents to each other that it has not dealt with any broker, investment banker, agent
or other person that may be entitled to any commission or compensation in connection with consummation of any of the transactions
contemplated hereby.

Section 30.           

    	 	-52-	 

     

    

Certain Matters Affecting the Agent.

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

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

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

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

(e)               
The Agent shall not be bound to make any investigation into the facts or matters stated in any documents delivered to the
Agent pursuant to Section 15;

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

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

Section 31.           
Reserved.

Section 32.           
Resignation or Termination of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long
as a successor Agent, reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate
Administrator in a Securitization is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the
duties of the Agent hereunder. UBS AG, New York Branch, as Initial Agent, may transfer its rights and obligations to a Servicer,
the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent of any Note Holder. Notwithstanding
the foregoing, Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization, the Master Servicer
shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place of UBS AG, New York Branch
without any further notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the
Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this
Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent under
this Agreement in place thereof without any further notice or other action.

Section 33.           

    	 	-53-	 

     

    

Resizing. Notwithstanding any other
provision of this Agreement, for so long as any Note Holder or an affiliate thereof (each, a “Resizing Entity”)
is the owner of any Note that is not included in a Securitization (each, an “Owned Note”), such Resizing Entity
shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended
and restated notes or additional notes (in each case, as applicable “New Notes”) reallocating the principal
of an Owned Note to such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate
principal amount equal to the then outstanding principal balance of such Owned Note provided that (i) the aggregate
principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal of such Owned
Note prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior
to such amendments, (iii) all Notes pay pro rata and on a pari passu basis and such reallocated or component
notes shall be automatically subject to the terms of this Agreement, and (iv) the Resizing Entity holding the New Notes shall
notify the Controlling Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in
writing of such modified allocations and principal amounts. If the Lead Securitization Note Holder so requests, the Resizing Entity
holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of
this Agreement to the New Notes, as so modified. Except for the foregoing reallocation and for modifications pursuant to the Lead
Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent of
its holder and the consent of the holder of each other Note. In connection with the foregoing, provided the conditions set
forth in clauses (i) through (iv) above are satisfied, the Master Servicer is hereby authorized and directed to execute
amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely
for the purpose of reflecting such reallocation of principal and that each New Note shall be a “Note” hereunder and
for purposes of adding and modifying any definitions related thereto. If more than one New Note is created hereunder, for purposes
of exercising the rights of a Controlling Note Holder or Non-Controlling Note Holder hereunder, the “Controlling Note Holder”
or “Non-Controlling Note Holder”, as applicable, shall be as provided in the definitions of such terms in this Agreement;
provided that the Controlling Note Holder shall be entitled to designate any New Note created from the existing Controlling Note
to be a Non-Controlling Note hereunder.

[SIGNATURE PAGE FOLLOWS]

    	 	-54-	 

     

    

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

	 	UBS AG, as Initial Note A-1 Holder
	 	 
	 	By: 	/s/ Andrew Lisa
	 	 	Name: Andrew Lisa
Title: Associate Director

	 	
	 	 
	 	By: 	/s/ Racquel A.C. Small
	 	 	Name: Racquel A.C. Small
Title: Executive Director

 

	 	UBS AG, as Initial Note A-2 Holder
	 	 
	 	By: 	/s/ Andrew Lisa
	 	 	Name: Andrew Lisa
Title: Associate Director

	 	
	 	 
	 	By: 	/s/ Racquel A.C. Small
	 	 	Name: Racquel A.C. Small
Title: Executive Director

 

	 	UBS AG, as Initial Note A-3 Holder
	 	 
	 	By: 	/s/ Andrew Lisa
	 	 	Name: Andrew Lisa
Title: Associate Director

	 	
	 	 
	 	By: 	/s/ Racquel A.C. Small
	 	 	Name: Racquel A.C. Small
Title: Executive Director

 

 

(CO-LENDER
AGREEMENT: UNITED HEALTHCARE OFFICE)

    	 	 	 

     

    

	 	UBS AG, as Initial Note A-4 Holder
	 	 
	 	By: 	/s/ Andrew Lisa
	 	 	Name: Andrew Lisa
Title: Associate Director

	 	
	 	 
	 	By: 	/s/ Michael Mills
	 	 	Name: Michael Mills
Title: Executive Director

	 	UBS AG, as Initial Note A-5 Holder
	 	 
	 	By: 	/s/ Andrew Lisa
	 	 	Name: Andrew Lisa
Title: Associate Director

	 	
	 	 
	 	By: 	/s/ Michael Mills
	 	 	Name: Michael Mills
Title: Director

 

 

(CO-LENDER AGREEMENT:
UNITED HEALTHCARE OFFICE)

    	 	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

 

	Mortgage Loan Borrower(s):	
        2716 N. Tenaya Loan 1, LLC

         

	Date of Mortgage Loan:	October 4, 2019
	Date of Notes:	November 4, 2019
	Original Principal Amount of Mortgage Loan:	$46,800,000
	Promissory Note A-1 Principal Balance:	$10,000,000
	Promissory Note A-2 Principal Balance:	$10,000,000
	Promissory Note A-3 Principal Balance:	$10,000,000
	Promissory Note A-4 Principal Balance:	$10,000,000
	Promissory Note A-5 Principal Balance:	$6,800,000
	Location of Mortgaged Property:	2720 North Tenaya Way, Las Vegas, Nevada
	Initial Maturity Date:	October 6, 2024

 

    	 	A-3	 

     

    

EXHIBIT B

1.          Initial
Note A-1 Holder:

 

(Prior to Securitization of Note A-1):

To 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

 

Following Securitization of Note A-1 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

2.          Initial
Note A-2 Holder:

 

(Prior to Securitization of Note A-2):

To 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

    	 	B-1	 

     

    

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

 

Following Securitization of Note A-2 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

3.           Initial
Note A-3 Holder:

 

(Prior to Securitization of Note A-3):

To 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:

    	 	B-2	 

     

    

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

 

Following Securitization of Note A-3 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

4.           Initial
Note A-4 Holder:

 

(Prior to Securitization of Note A-4):

To 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

 

Following Securitization of Note A-4 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

    	 	B-3	 

     

    

 

5.           Initial
Note A-5 Holder:

 

(Prior to Securitization of Note A-5):

To 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

Following Securitization of Note A-5 the applicable notice
addresses set forth in the related Securitization Servicing Agreement.

 

    	 	B-4	 

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

		1.	Alliance Bernstein

		2.	Annaly Capital Management

		3.	Apollo Real Estate Advisors

		4.	Archon Capital, L.P.

		5.	AREA Property Partners

		6.	Artemis Real Estate Partners

		7.	BlackRock, Inc.

		8.	Capital Trust, Inc.

		9.	Clarion Partners

		10.	Colony Capital, LLC / Colony Financial, Inc.

		11.	CreXus Investment Corporation/Annaly Capital Management

		12.	DLJ Real Estate Capital Partners

		13.	Dune Real Estate Partners

		14.	Eightfold Real Estate Capital, L.P.

		15.	Five Mile Capital Partners

		16.	Fortress Investment Group, LLC

		17.	Garrison Investment Group

		18.	Goldman, Sachs & Co.

		19.	H/2 Capital Partners LLC

		20.	Hudson Advisors

		21.	Investcorp International

		22.	iStar Financial Inc.

		23.	J.P. Morgan Investment Management Inc.

		24.	JER Partners

		25.	KKR Real Estate Manager Finance LLC

		26.	Lend-Lease Real Estate Investments

		27.	Libremax Capital LLC

		28.	LoanCore Capital

		29.	Lone Star Funds

		30.	Lowe Enterprises

		31.	Normandy Real Estate Partners

		32.	One William Street Capital Management, L.P.

		33.	Och-Ziff Capital Management Group/ OZ Management, L.P./ OZ Management II., L.P.

		34.	Praedium Group

		35.	Raith Capital Partners, LLC

		36.	Rialto Capital Management, LLC

		37.	Rialto Capital Advisors LLC

		38.	Rimrock Capital Management LLC

		39.	Rockpoint Group

		40.	Rockwood

		41.	RREEF Funds

		42.	Square Mile Capital Management

		43.	Starwood Capital Group/Starwood Financial Trust

		44.	The Blackstone Group

		45.	The Carlyle Group

		46.	Torchlight Investors

		47.	Walton Street Capital, L.L.C.

		48.	Westbrook Partners

		49.	WestRiver Capital

		50.	Wheelock Street Capital

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

 

    	 	C-1

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