Document:

Exhibit 4.19

AGREEMENT BETWEEN NOTE HOLDERS

Dated as of December 30, 2021

by and between

CITI REAL ESTATE FUNDING INC.

(Note A-1 Holder)

and

CITI REAL ESTATE FUNDING INC.

(Note A-2 Holder)

and

BARCLAYS BANK PLC

(Note A-3 Holder)

and

BARCLAYS BANK PLC

(Note A-4 Holder)

 

 

 

Moonwater Portfolio

    	 		 

    	 

    

TABLE OF CONTENTS

	 	 	Page
	 	 	 
	Section 1.	Definitions.	1
	Section 2.	Servicing of the Mortgage Loan.	16
	Section 3.	Priority of Payments.	24
	Section 4.	Workout.	26
	Section 5.	Administration of the Mortgage Loan.	26
	Section 6.	Note Holder Representatives.	31
	Section 7.	Appointment of Special Servicer.	33
	Section 8.	Payment Procedure.	34
	Section 9.	Limitation on Liability of the Note Holders.	35
	Section 10.	Bankruptcy.	36
	Section 11.	Representations of the Note Holders.	36
	Section 12.	No Creation of a Partnership or Exclusive Purchase Right.	37
	Section 13.	Other Business Activities of the Note Holders.	37
	Section 14.	Sale of the Notes.	37
	Section 15.	Registration of the Notes and Each Note Holder.	40
	Section 16.	Governing Law; Waiver of Jury Trial.	41
	Section 17.	Submission To Jurisdiction; Waivers.	41
	Section 18.	Modifications.	41
	Section 19.	Successors and Assigns; Third Party Beneficiaries.	42
	Section 20.	Counterparts.	42
	Section 21.	Captions.	42
	Section 22.	Severability.	42
	Section 23.	Entire Agreement.	43
	Section 24.	Withholding Taxes.	43
	Section 25.	Custody of Mortgage Loan Documents.	44
	Section 26.	Cooperation in Securitization.	44
	Section 27.	Notices.	45
	Section 28.	Broker.	45
	Section 29.	Certain Matters Affecting the Agent.	45
	Section 30.	Reserved.	46
	Section 31.	Resignation of Agent.	46
	Section 32.	Resizing.	46

 

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This AGREEMENT BETWEEN NOTE
HOLDERS (this “Agreement”), dated as of December 30, 2021, by and between BARCLAYS BANK PLC, a public limited company
registered in England and Wales (“Barclays”), and CITI REAL ESTATE FUNDING INC., a New York corporation (“Citi”
and, in its capacity as the initial agent, the “Initial Agent”).

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein), Barclays Capital Real Estate Inc., a Delaware corporation (“BCREI”), and
Citi 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 is evidenced, inter alia, by (i) a promissory note in favor of Citi (together with its successors
and assigns in interest, in its capacity as initial owner of Note A-1 described below, the “Initial Note A-1 Holder”)
in the original principal amount of $40,000,000 (as amended, modified, consolidated, or supplemented, “Note A-1”),
(ii) a promissory note in favor of Citi (together with its successors and assigns in interest, in its capacity as initial owner of
Note A-2 described below, the “Initial Note A-2 Holder”) in the original principal amount of $23,000,000 (as amended,
modified, consolidated, or supplemented, “Note A-2”), (iii) a promissory note in favor of BCREI (together with
its successors and assigns in interest, in its capacity as initial owner of Note A-3 described below, the “Initial Note A-3 Holder”)
in the original principal amount of $35,000,000 (as amended, modified, consolidated, or supplemented, “Note A-3”),
and (iv) a promissory note in favor of BCREI (together with its successors and assigns in interest, in its capacity as initial owner of
Note A-4 described below, the “Initial Note A-4 Holder”; the Initial Note A-1 Holder, the Initial Note A-2 Holder,
the Initial Note A-3 Holder, and the Initial Note A-4 Holder are referred to collectively herein as the “Initial Note Holders”)
in the original principal amount of $18,000,000 (as amended, modified, consolidated, or supplemented, “Note A-4”; and,
together with Note A-1, Note A-2, and Note A-3, the “Notes”);

WHEREAS, each of the Notes
is secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real property located
as described on the Mortgage Loan Schedule (the “Mortgaged Property”);

WHEREAS, BCREI transferred
Note A-3 and Note A-4 to Barclays simultaneously with the closing of the Mortgage Loan;

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

NOW, THEREFORE, in consideration
of the mutual covenants 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 (or to any analogous
term) in the Lead

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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 or substantially similar language,
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.

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

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

“Agreement”
shall mean this Agreement Between Note Holders, 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 Representations
Reviewer” shall mean the asset representations reviewer appointed as provided in the Lead Securitization Servicing Agreement.

“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.

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

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

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

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

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

“Certificate”
shall mean any certificate issued pursuant to a Securitization.

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

“Certificateholder”
shall mean any holder of a Certificate issued pursuant to a Securitization, to the extent provided under the terms of the related Securitization
Servicing Agreement.

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

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

“Collection Account”
shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

“Commission”
shall mean the Securities and Exchange Commission.

“Companion Distribution
Account” shall mean the “Companion Distribution Account”, “Loan Combination Custodial Account” or analogous
account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

“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).

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“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.

“Controlling Note
Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is included in
a Securitization, references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of
securities issued in such Securitization designated as the “controlling class” or any other party that is assigned the rights
to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related Securitization
Servicing Agreement; provided that for so long as the Controlling Note Holder (or the majority “controlling class holder”
or other party assigned the rights to exercise the rights of the Controlling Note Holder) is a Borrower Party, the Controlling Note Holder
(and the majority “controlling class holder” or other party assigned the rights to exercise the rights of the Controlling
Note Holder) shall not be entitled to exercise any rights of the Controlling Note Holder, and there shall be deemed to be no Controlling
Note Holder hereunder. If the Controlling Note is included in a Securitization, the related Securitization Servicing Agreement may contain
additional limitations on the rights of the designated party entitled to exercise the rights of the “Controlling Note Holder”
hereunder if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage Loan Borrower.

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

“Custodian”
shall mean the custodian or analogous party appointed as provided in the Lead Securitization Servicing Agreement.

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

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

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended.

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

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

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

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

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“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 recitals.

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

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

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

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

“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 (or entities
as applicable).

“Interest Rate”
shall have the meaning assigned to such 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, the Asset Representations Reviewer, the risk retention consultation party under the
Lead Securitization, any Mortgage Loan Borrower, any manager of any Mortgaged Property, any independent contractor engaged by any of the
foregoing parties, the Operating Advisor, any 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.

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

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

“Lead Securitization”
shall mean:

(i) during the period
from and after the Securitization of any Note other than Note A-1 and prior to the Note A-1 Securitization, the Securitization with the
earliest Securitization Date; provided that, prior to the Securitization of Note A-1, if two or more Notes other than Note A-1
have both the earliest Securitization Date and the same Securitization Date but are included in different Securitizations, then the Securitization
including the Note(s) with the larger (aggregate) Note Principal Balance shall be the Lead Securitization; and

(ii) immediately
upon the occurrence of and following the Securitization of Note A-1, the Note A-1 Securitization.

“Lead Securitization
Date” shall mean the closing date of the Lead Securitization.

“Lead Securitization
Directing Certificateholder” shall mean the “Directing Certificateholder” or analogous party as defined in the Lead
Securitization Servicing Agreement.

“Lead Securitization
Note” shall mean a Note held by the Lead Securitization.

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

“Lead Securitization
Servicing Agreement” shall mean the PSA executed and delivered in connection with 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 “Major Decisions” as defined in the Lead Securitization Servicing Agreement.

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

“Model PSA”
shall mean that certain pooling and servicing agreement, dated as of July 1, 2021, relating to the BBCMS 2021-C10 securitization.

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

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

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

“Mortgage Loan Agreement”
shall mean the Loan Agreement, dated as of December 30, 2021, between Barclays and Citi, collectively, as lender, and the Mortgage Loan
Borrower, as 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 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, guaranteeing or securing the Mortgage Loan.

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

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

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

“Non-Controlling
Note” shall mean any Note (other than the Controlling Note), including any New Note designated as a “Non-Controlling Note”
hereunder pursuant to Section 32.

“Non-Controlling
Note Holder” shall mean any holder of a Non-Controlling Note; provided that at any time such holder’s respective
Note is included in a Securitization, references to such “Non-Controlling Note Holder” herein shall mean the “Directing
Certificateholder”, “Directing Holder”, “Controlling Class Representative” or any other party assigned the
rights to exercise the rights of such “Non-Controlling Note Holder” hereunder, as and to the extent provided in the related
Non-Lead Securitization Servicing Agreement (including without limitation subject to any restrictions applicable to the Mortgage Loan
Borrower or affiliates of the Mortgage Loan Borrower provided in such 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; provided
that for so long as any 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) a Borrower Party, such Non-Controlling
Note (and the majority “controlling class” holder or other party assigned the rights to exercise the rights of such “Non-Controlling
Note Holder” as described above) shall not be entitled to exercise any rights of such Non-Controlling Note Holder, and there shall
be deemed to be no Non-Controlling Note Holder hereunder with respect to such Non-Controlling Note. 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
in respect of any Note that is

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exercising the rights of a “Non-Controlling
Note Holder” herein or under the Lead Securitization Servicing Agreement (it being understood, for the avoidance of doubt, that
the Lead Securitization Note Holder (or the Master Servicer or Special Servicer on its behalf) may additionally need to deal with the
master servicer, special servicer or other person party to the related Securitization Servicing Agreement) and (x) to the extent that
the related Securitization Servicing Agreement assigns such rights to more than one party or (y) to the extent any Note is split into
two or more New Notes pursuant to Section 32, for purposes of this Agreement, the applicable Securitization Servicing Agreement
or the holders of such New Notes 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) and 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 a Non-Controlling Note Holder, as a Non-Controlling
Note Holder under this Agreement. If the Non-Controlling Note is included in a Securitization, the related Securitization Servicing Agreement
may contain additional limitations on the rights of the designated party entitled to exercise the rights of the “Non-Controlling
Note Holder” hereunder if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage
Loan Borrower.

“Non-Controlling
Note Holder Representative” shall have the meaning assigned to such term in Section 6(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 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 a 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”, “senior trust advisor”, “operating advisor” or
other analogous term under any Non-Lead Securitization Servicing Agreement.

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

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

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

“Non-Lead Securitization
Servicing Agreement” shall mean any PSA that is not the Lead Securitization Servicing Agreement.

“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.

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

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

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

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

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

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

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

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

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

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

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

“Note A-3 PSA”
shall mean the pooling and servicing agreement or other comparable 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-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 PSA”
shall mean the pooling and servicing agreement or other comparable 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 Holder Representative”
shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative, as applicable.

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

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

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

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

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

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

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

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

“Percentage Interest”
shall mean, with respect to any Note Holder, a fraction, expressed as a percentage, the numerator of which is the principal balance of
the related Note and the denominator of which is the principal balance of the Mortgage Loan.

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

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

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

“PSA”
shall mean each of the Note A-1 PSA, the Note A-2 PSA, the Note A-3 PSA, and the Note A-4 PSA.

“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)              
one or more of the following:

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

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

    	 	-11-	 

    	 

    

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

    	 	-12-	 

    	 

    

(c)              
 any entity Controlled by any of the entities described in clause (b) (other than clause (b)(iii)) 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”
shall mean (i) a corporation, national bank, national banking association or a trust company, organized and doing business under
the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the
trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or
state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term
senior unsecured debt has a rating in 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 Morningstar, Fitch, KBRA, Moody’s and S&P and their respective successors in interest or, if any of such entities
shall for any reason no longer perform the functions of a securities rating agency, any other nationally recognized statistical rating
agency reasonably engaged by any Note Holder to rate the securities issued in connection with the Securitization of the related Note;
provided, 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 (which may be in electronic form) 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 consent of the Controlling
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, and any requirement hereunder to obtain a Rating Agency Confirmation from any Rating
Agency may be satisfied or deemed in the same manner that a Rating Agency Confirmation requirement may be satisfied or deemed satisfied
under the Lead

    	 	-13-	 

    	 

    

Securitization Servicing 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 have the meaning assigned to such term in Section 5(d).

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

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

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

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

    	 	-14-	 

    	 

    

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

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

“Securitization
Date” shall mean, with respect to a Securitization, the effective date on which such Securitization is consummated.

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

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

“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 or analogous 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 applicable special servicer with respect to the Mortgage Loan 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.

    	 	-15-	 

    	 

    

“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.

“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 from
and after the Lead Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the
Lead Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal
or interest in respect of any Note other than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan
Borrower but shall be obligated to make Servicing Advances subject to the terms of the Lead Securitization Servicing Agreement; provided,
further, that, when appointed, the Special Servicer has the Required Special Servicer Rating from each Rating Agency then rating
a Securitization. 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 26, reasonably cooperate with such other Note Holder, at such other
Note Holder’s expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby
irrevocably and unconditionally consents to the appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing
Agreement by the Depositor and the appointment of the Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate
with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization
Servicing Agreement. Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization
as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing
of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of such Note
Holder set forth herein and in the Lead Securitization Servicing Agreement). The Lead Securitization Servicing Agreement shall not require
the Servicer to enforce the rights of any Note Holder against any other Note Holder or 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

    	 	-16-	 

    	 

    

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, however,
that the Notes that constituted the Lead Securitization Note shall continue to be considered as the Lead Securitization Note; provided
further, however, that unless otherwise agreed to by the holder of the Lead Securitization Note, the master servicer under
such subsequent servicing agreement shall not be required to make any P&I Advance in respect of such Note; provided further,
however, 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; provided, further, that the
special servicer and the related servicing arrangements under such replacement servicing agreement shall in any event satisfy the requirements
of clause (b)(iii)(2) of the definition of Qualified Institutional Lender; and provided, further, that until a replacement
servicing agreement has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to
the provisions of the Lead Securitization Servicing Agreement (excluding, however, any obligation to make any P&I Advances in respect
of the Lead Securitization Note except as specifically agreed to by the Servicer, and provided that the Servicer’s right to reimbursement
for Servicing Advances as set forth in Section 2(b) shall remain in effect), 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 being replaced or by any Person appointed by
the Lead Securitization Note Holder that is a qualified servicer meeting the requirements of the Lead Securitization Servicing Agreement
(and, in the case of an appointed special servicer, that has the Required Special Servicer Rating from each Rating Agency then rating
securities of a Non-Lead Securitization). 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 or the Special
Servicer, to the extent provided in the Lead Securitization Servicing Agreement) shall make the following advances, subject to the terms
of the Lead Securitization Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage Loan and (ii) P&I Advances
on the Lead Securitization Note. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement
for a Servicing Advance, first from funds on deposit in the Collection Account and/or the related Companion Distribution Account
for the Mortgage Loan that (in any case)

    	 	-17-	 

    	 

    

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 Companion Distribution Account are insufficient, from general collections of the Lead Securitization as provided
in the Lead Securitization Servicing Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled
to reimbursement for interest on a Servicing Advance (including any Servicing Advance that is any Nonrecoverable Advance) at the Reimbursement
Rate 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 interest on a Servicing Advance (including any Servicing Advance that is a Nonrecoverable Advance) at the Reimbursement
Rate, 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 Servicing Advance that is a Nonrecoverable Advance or interest thereon at the Reimbursement Rate.

In addition, any Non-Lead
Securitization Note Holder (including, but not limited to, any Securitization Trust into which the applicable 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 and this Agreement, to the extent amounts on deposit in the related Companion
Distribution Account and, to the extent of funds related to the Mortgage Loan, the Collection 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, 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 (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 Companion Distribution Account and, to the
extent of funds related to the Mortgage Loan, the Collection 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

    	 	-18-	 

    	 

    

duty to pay, if any, 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 the related 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 each 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 or 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 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 a determination of non-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 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 that becomes non-recoverable
(and interest thereon at the Reimbursement Rate) first from the related Companion Distribution 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:

    	 	-19-	 

    	 

    

(i)           
 such Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Servicing Advances that are
Nonrecoverable Advances (and interest thereon at the Reimbursement Rate) 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, including without limitation,
any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that if 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 or the Special Servicer, pay or reimburse the
Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor, 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
interest thereon at the Reimbursement Rate) 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 or the Special
Servicer, 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 interest thereon at the Reimbursement Rate) and/or additional
trust fund expenses under the Lead Securitization Servicing Agreement relating to the Mortgage Loan;

(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 “Companion Distribution
Account” are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse
each of the applicable Indemnified Parties for its pro rata share of the insufficiency out of general collections in the collection account
(or equivalent account) established under such Non-Lead Securitization Servicing Agreement; provided that a Non-Lead Securitization
Note Holder’s duty to pay, if any, 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 or reimbursements and the sources of funds for such
payments or reimbursements) as may be set forth from time to time in the applicable Non-Lead Securitization Servicing Agreement with respect
to the payment of such items to the Non-Lead Operating Advisor;

    	 	-20-	 

    	 

    

(iii)           
 the related Non-Lead Master Servicer, Non-Lead Certificate Administrator or Non-Lead Trustee will be required to deliver to the
Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer, the Operating Advisor and the Asset Representations
Reviewer (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 e-mail 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 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 Trustee and the Lead Securitization Trust shall be third party beneficiaries
of the foregoing provisions.

(d)              
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 applicable Non-Lead
Asset Representations Reviewer or any other party to such Non-Lead Securitization Servicing Agreement in connection with such Asset Review
by providing such Non-Lead Asset Representations Reviewer or such other requesting party with any documents reasonably requested by the
Non-Lead Asset Representations Reviewer or such other requesting party (not at its own expense or the expense of the Lead Securitization
Trust but at the expense of the related mortgage loan seller, such Non-Lead Asset Representations Reviewer or such other requesting party
to the Non-Lead Securitization Servicing Agreement), but only to the extent that (i) such Non-Lead Asset Representations Reviewer or such
other requesting party has not been able to obtain such documents from the related mortgage loan seller or any party to the related Non-Lead
Securitization Servicing Agreement and (ii) such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee
or the Custodian, as the case may be.

(e)              
Prior to the Securitization of any 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 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

    	 	-21-	 

    	 

    

to receive such items as and to the extent
provided in the related Securitization Servicing Agreement) 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.

(f)               
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 related Non-Lead Master Servicer and related Non-Lead Special Servicer with respect
to the Securitization related to its Note.  Without limiting the generality of any provision set forth above, for purposes of the
Mortgage Loan, each Securitization Servicing Agreement shall contain (A) provisions requiring the related master servicer and the related
special servicer to maintain, or subjecting them to possible termination for not maintaining, compliance with customary servicer rating
criteria (but the rating agencies need not be the same) and (B) provisions substantially similar in all material respects to or materially
consistent with those set forth in the Model PSA with respect to (i) periodic reporting and periodic delivery of service provider compliance
documents under Regulation AB (and, in any event, each Securitization Servicing Agreement shall require such reporting and delivery so
long as the Lead Securitization Trust is required to file periodic reports under the Exchange Act), (ii) servicing transfer events that
would result in the transfer of the Mortgage Loan to special servicing status, (iii) the authority of the Controlling Note Holder (or
the Master Servicer or Special Servicer on its behalf) to grant or agree or consent to material modifications, waivers and amendments
to the Mortgage Loan, or to approve material assignments and assumptions or material additional indebtedness in connection with the Mortgage
Loan, (iv) the potential termination of the related master servicer and special servicer following a servicer termination event, (v) requirements
to obtain an appraisal or appraisal update following a transfer of the Mortgage Loan to special servicing status and periodic updates
thereof, (vi) duties of the special servicer in respect of foreclosure and the management of REO property, (vii) payments on serviced
companion loans (provided, that the Master Servicer under the Lead Securitization Servicing Agreement shall remit amounts payable on any
serviced companion loan on or before the Business Day following the determination date under the applicable Non-Lead Securitization Servicing
Agreement governing the securitization of such serviced companion loan (if any)), (viii) special servicing, workout and liquidation fees
(and, in any event, the fees at which such compensation accrue or are determined shall not exceed 0.25%, 1.00% and 1.00%, respectively
(subject to any market minimum special servicing fees and fee offsets set forth in the Servicing Agreement), (ix) 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

    	 	-22-	 

    	 

    

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, (x) requirements to give each Non-Lead Securitization Note Holder (except any Note Holder of any other Note included in the Lead
Securitization) notice of the Lead Securitization in writing (which may be by email) on or before the applicable closing date for such
Lead Securitization, together with contact information for each of the parties to the Lead Securitization Servicing Agreement; (xi) requirements
to send a copy (in EDGAR-compatible format) of the Lead Securitization Servicing Agreement to each Non-Lead Securitization Note Holder
(except any Note Holder of any other Note included in the Lead Securitization); and (xii) requirements to send written notice to each
Non-Lead Securitization Note Holder in a timely manner (but no later than two (2) Business Days after the applicable filing date) of any
8-K/A filing made by the Depositor regarding the Lead Securitization Servicing Agreement if such filing contains revisions or changes
to such Lead Securitization Servicing Agreement that are material to such Non-Lead Securitization Note Holder; provided, that (A)
this Section 2(f) 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 certificateholder or investor voting or consent
thresholds, or to prohibit or restrict additional approval, consent, consultation, notice or rating agency confirmation requirements;
and (B) if there is any conflict between this sentence and any other provision of this Agreement, such other provision of this Agreement
shall control. To the extent of any conflict between this Agreement and the Lead Securitization Servicing Agreement, the terms of this
Agreement shall control.

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

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

(i)           
the Master Servicer shall remit all payments received with respect to any 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 related Non-Lead Securitization Note Holder
by the earlier of (x) the Master Servicer Remittance Date (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 (i) is at least one (1) Business Day after the scheduled monthly payment date
under the Mortgage Loan Agreement;

    	 	-23-	 

    	 

    

(ii)           
 in connection with the expedited remittances contemplated by the preceding clause (i) and the expedited reporting contemplated
by the following clause (iii), (A) the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect
to the Mortgage Loan or the Mortgaged Property (including the delivery of information contemplated by CREFC® reports that the Special
Servicer is required to deliver to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer
to each Non-Lead Securitization Note Holder may include all information contemplated to be included therein for the applicable reporting
period, and (y) expedite withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage
Loan or the Mortgaged Property so that the Master Servicer’s remittances to each Non-Lead Securitization Note Holder contemplated
by the preceding clause (i) may include all amounts for the applicable collection period, and (B) each party responsible under the Lead
Securitization Servicing Agreement for delivering any Additional Form 10-D Disclosure (or analogous information) to a Non-Lead Trustee
or Non-Lead Depositor in respect of a Non-Lead Securitization Note shall deliver such Additional Form 10-D Disclosure (or analogous information)
no later than the 5th calendar day following the distribution date for the related Non-Lead Securitization;

(iii)           
the Master Servicer agrees, with respect to any Non-Lead Securitization Note that is held by a Securitization, to deliver or cause
to be delivered or to make available to the related Non-Lead Master Servicer all reports required to be delivered by the Master Servicer
to the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level
reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing Agreement,
to the extent related to the Mortgage Loan, the Mortgaged Property, 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 (as defined in the Lead
Securitization Servicing Agreement) and (y) the Business Day following the related Non-Lead Securitization Determination Date, in each
case, as long as the date on which delivery is required under this clause (iii) is at least one (1) Business Day after the scheduled monthly
payment date under the Mortgage Loan Agreement; and

(iv)           
Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include the failure to provide to
any Non-Lead Securitization Note Holder (if and to the extent required under the related Non-Lead Securitization) reports required under
the Exchange Act, and the rules and regulations thereunder, in a timely fashion that allows the depositor for such Non-Lead Securitization
to timely satisfy all filing requirements under the Exchange Act and the rules and regulations promulgated thereunder in connection with
such Non-Lead Securitization.

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 Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of
credit or other

    	 	-24-	 

    	 

    

collateral or instrument securing the Mortgage
Loan, Condemnation Proceeds, or Insurance Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair
of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the
extent permitted by the REMIC Provisions), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a
Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage
Loan Documents to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection
expenses or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing
Agreement shall be applied to the extent set forth in, and in accordance with the terms of, the Mortgage Loan Documents; and (y) all
amounts that are then due, payable or reimbursable to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization
Servicing Agreement and any other 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 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 any 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 (including 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, be distributed (x) prior to the securitization of the Lead Securitization Note or at any time the Mortgage Loan is not being
serviced pursuant to a Securitization Servicing Agreement, pro rata to each Note Holder, and (y) following the securitization of the Lead
Securitization Note, to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization
Servicing Agreement.

    	 	-25-	 

    	 

    

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

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

Section 5.               
Administration of the Mortgage Loan.

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

    	 	-26-	 

    	 

    

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 sell the Notes
together as notes evidencing one whole loan and shall require that all offers be submitted to the Trustee in writing. Whether any cash
offer constitutes a fair price for the Mortgage Loan shall be determined by the Special Servicer (unless the offeror is an Interested
Person, in which case the Trustee shall make such determination); provided, that no offer from an Interested Person shall constitute a
fair price unless (i) it is the highest offer received and (ii) at least two bona fide other offers are received from independent third
parties. In determining whether any offer received represents a fair price for the Mortgage Loan, the Trustee or the Special Servicer,
as applicable, shall be supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the
Lead Securitization Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal, on a new
Appraisal. The Trustee shall select the appraiser conducting any such new Appraisal. In determining whether any such offer constitutes
a fair price for the Mortgage Loan, the Trustee or the Special Servicer, as applicable, shall instruct the appraiser to take into account
(in addition to the results of any Appraisal or updated Appraisal that it may have obtained pursuant to the Lead Securitization Servicing
Agreement), as applicable, among other factors, the period and amount of any delinquency on the affected Mortgage Loan, the occupancy
level and physical condition of the Mortgaged Property and the state of the local economy. The Trustee may conclusively rely on the opinion
of an Independent appraiser or other Independent expert in real estate matters with at least five (5) years’ experience in valuing
or investing in loans similar to the Mortgage Loan that has been selected with reasonable care by the Trustee to determine if such cash
offer constitutes a fair price for the Mortgage Loan, and that has been retained by the Trustee at the expense of the Holders in connection
with making such determination. 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 (provided
that such consent is not required with respect to any Non-Lead Securitization Note that is held by the Mortgage Loan Borrower or a Borrower
Party) unless the Special Servicer has delivered to each Non-Lead Securitization Note Holder: (a) at least 15 Business Days prior written
notice of any decision to attempt to sell the Mortgage Loan; (b) at least 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 10 days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in
the Servicing File requested by such Non-Lead Securitization Note Holder that are material to the sale price of the Mortgage Loan; and
(d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other offerors and the Lead Securitization
Directing Certificateholder or the Controlling Note Holder, as applicable) 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. 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 a Borrower Party).

    	 	-27-	 

    	 

    

Notwithstanding anything
contained in the preceding paragraph to the contrary, if the Trustee is required to determine whether a cash offer by an Interested Person
constitutes a fair price, the Trustee may (at its option and at the expense of the offering Interested Person purchaser) designate an
independent third party expert in real estate or commercial mortgage loan matters with at least five (5) years’ experience in valuing
loans similar to the Mortgage Loan, that has been selected with reasonable care by the Trustee to determine if such cash offer constitutes
a fair price for the Mortgage Loan. If the Trustee designates such third party to make such determination, the Trustee shall be entitled
to rely conclusively upon such third party’s determination. The reasonable fees of, and the costs of all appraisals, inspection
reports and broker opinions of value incurred by any such third party shall be covered by, and shall be reimbursable, from the offering
Interested Person.

Each 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 any related original documentation evidencing its Note (endorsed in blank if necessary)
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 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 Loan (as
defined in the Lead Securitization Servicing Agreement) (or to the extent otherwise provided in the Lead Securitization Servicing Agreement),
by the Special Servicer, in each case

    	 	-28-	 

    	 

    

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 materially and 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 a Borrower Party) shall be a third-party beneficiary to the Lead Securitization Servicing Agreement with respect
to its rights as specifically provided for therein.

(c)              
Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its
behalf) shall (i) provide copies of any notice, information and report that it is required to provide to the Lead Securitization Directing
Certificateholder or Controlling Note Holder, as applicable, 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 Directing Certificateholder (for this purpose, without regard to whether such items are actually required to be
provided to the Lead Securitization Directing Certificateholder under the Lead Securitization Servicing Agreement due to the occurrence
of a Control Termination Event or a Consultation Termination Event) and (ii) 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 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 Directing Certificateholder, 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 non-binding

    	 	-29-	 

    	 

    

consultation rights of each Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) set forth in the immediately preceding sentence, the Lead Securitization
Note Holder (or Master Servicer or Special Servicer, acting on its behalf) may make any Major Decision or take any action set forth in
the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Lead Securitization Note Holder
(or Master Servicer or Special Servicer, as applicable) determines that immediate action with respect thereto is necessary to protect
the interests of the Note Holders. In no event shall the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting
on its behalf) be obligated at any time to follow or take any alternative actions recommended by a Non-Controlling Note Holder (or its
Non-Controlling Note Holder Representative).

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

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.

    	 	-30-	 

    	 

    

Section 6.               
Note Holder Representatives.

(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, 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 (other than a Borrower Party). No such Controlling Note Holder
Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling Note Holder). All actions that
are permitted to be taken by the Controlling Note Holder under this Agreement may be taken by the Controlling Note Holder Representative
acting on behalf of the Controlling Note Holder. No Servicer, Trustee or Certificate Administrator acting on behalf of the Lead Securitization
Note Holder shall be required to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder has
notified such Servicer, Trustee or Certificate Administrator 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, Trustee or Certificate
Administrator with written confirmation of its acceptance of such appointment (and such parties will be entitled to rely on such notice),
an address and facsimile number for the delivery of notices and other correspondence and a list of officers or employees of such person
with whom the parties to this Agreement may deal (including their names, titles, work addresses and facsimile numbers). The Controlling
Note Holder shall promptly deliver such information to any Servicer, Trustee and Certificate Administrator. None of the Servicers, Operating
Advisor, Certificate Administrator and Trustee shall be required to recognize any person as a Controlling Note Holder Representative until
they receive such 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.

Neither the Controlling Note
Holder Representative nor the Controlling Note Holder, in such capacity, 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 the Lead 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 or breach of this Agreement. The Note Holders agree that
the Controlling Note Holder Representative and the Controlling Note Holder (whether acting in place of the Controlling Note Holder Representative
when no Controlling Note Holder Representative shall have been appointed hereunder or otherwise exercising any right, power or privilege
granted to the Controlling Note Holder hereunder) may take or refrain from taking actions, or give or refrain from giving consents, that
favor the interests of one Note Holder over any other Note Holder, and that the Controlling Note Holder Representative and the Controlling
Note Holder may have special relationships and interests that conflict with the interests of another Note Holder and, absent willful misfeasance,
bad faith or gross negligence or a breach of this Agreement on the part of the Controlling Note Holder Representative or the Controlling
Note

    	 	-31-	 

    	 

    

Holder, as the case may be, acting in such
capacity, agree to take no action against the Controlling Note Holder Representative, the Controlling Note Holder or any of their respective
officers, directors, employees, principals or agents as a result of such special relationships or interests, and that neither the Controlling
Note Holder Representative nor the Controlling Note Holder will be deemed to have been grossly negligent or reckless, or to have acted
in bad faith or engaged in willful misfeasance or to have recklessly disregarded any exercise of its rights, or to have breached this
Agreement, 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.

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 Servicing Agreement; provided, that each Initial Note Holder
shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator, the Master Servicer and the Special
Servicer under the Lead Securitization Servicing Agreement shall be entitled to conclusively rely on such identity and contact information
received by it and shall not be liable in respect of any deliveries hereunder sent in reliance thereon.

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.

For so long as the Lead Securitization
Note is included in the Lead Securitization, the “Directing Certificateholder” under the Lead Securitization Servicing Agreement
(or any other party designated under the Lead Securitization Servicing Agreement to exercise the rights of the Controlling Note Holder
hereunder) shall be the Controlling Note Holder Representative.

(b)                  
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder. In addition,
the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to the Mortgage Loan
if it is a Specially Serviced Loan and (2) the Master Servicer and the Special Servicer with respect to all Major Decisions, and, except
as set forth below the Master Servicer and the Special Servicer shall not be permitted to implement or consent to 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 Master Servicer or Special Servicer shall seek the consent of the Controlling Note Holder with respect to any
Major Decision to the same extent that it is responsible under the Lead Securitization Servicing Agreement for seeking the consent of
the Directing Certificateholder with respect to any Major Decision with respect to any other mortgage loan serviced thereunder (assuming
that a “Control Termination Event” or similar event under the

    	 	-32-	 

    	 

    

Lead Securitization Servicing Agreement has
not occurred and is not continuing). 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 applicable 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 Master
Servicer or Special Servicer, as the case may be, has made a reasonable effort to contact the Controlling Note Holder, the Master Servicer
or the Special Servicer, as the case may be, may take any such action without waiting for the Controlling Note Holder’s response.

No objection, 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 or the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard.

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 with the Required Special Servicer Rating. 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 and this Agreement and delivering
a Rating Agency Communication to each Rating Agency (or obtaining a Rating Agency Confirmation from each Rating Agency, but only if required
by the terms of the Lead Securitization Servicing Agreement). The Controlling Note Holder shall be solely responsible for any expenses
incurred in connection with any such replacement without cause. The Controlling

    	 	-33-	 

    	 

    

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 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”.

Section 8.               
Payment Procedure.

(a)              
The Lead Securitization Note Holder (or the Master Servicer acting on its behalf), in accordance with the priorities set forth
in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited
all payments allocable to the Notes to the Collection Account and/or related Companion Distribution Account (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 acting on its behalf) shall deposit such payments to the applicable account within one 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 payments into the applicable
account within one (1) Business Day of receipt of such 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 such properly identified and
available funds).

(b)              
If the Lead Securitization Note Holder (or the Master 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 Master Servicer

    	 	-34-	 

    	 

    

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 (or the related
Non-Lead Master Servicer acting on its behalf) shall promptly on demand by the Lead Securitization Note Holder (or the Master Servicer
acting on its behalf) repay to the Lead Securitization Note Holder any portion thereof that the Lead Securitization Note Holder (or the
Master 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 (or the Master 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 Master Servicer acting on its behalf) makes any payment to any
Non-Lead Securitization Note Holder before the Lead Securitization Note Holder (or the Master 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 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 Master Servicer acting
on its behalf) request, promptly return that payment to the Lead Securitization Note Holder (or the Master 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 a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead
Securitization Note Holder under the Mortgage Loan. 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,

    	 	-35-	 

    	 

    

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 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 that the execution, delivery and performance
of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene
such Note Holder’s charter or any law or contractual restriction binding upon such Note Holder, and that this Agreement is the legal,
valid and binding obligation of such Note Holder enforceable against such Note Holder in accordance with its terms, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’
rights generally, and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law), and except that the enforcement of rights with respect to indemnification and contribution obligations may be limited by applicable
law. Each Note Holder represents and warrants that it is duly organized, validly existing, in good standing and in possession of all licenses
and authorizations necessary to carry on its business. Each Note Holder represents and warrants that (a) this Agreement has been
duly executed and delivered by such Note Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations,
orders or filings of or with any court or governmental agency or body, if any, required for the execution, delivery and performance of
this Agreement by such

    	 	-36-	 

    	 

    

Note Holder have been obtained or made and
(c) to such Note Holder’s actual knowledge, there is no pending action, suit or proceeding, arbitration or governmental investigation
against such Note Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

Section 12.           
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association, joint venture
or other entity. No Note Holder shall have any obligation whatsoever to offer to any other Note Holder the opportunity to purchase a participation
interest in any future loans originated by such Note Holder or its Affiliates and if any Note Holder chooses to offer to any other Note
Holder the opportunity to purchase a participation interest in any future mortgage loans originated by such Note Holder or its Affiliates,
such offer shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and absolute discretion. No Note
Holder shall have any obligation whatsoever to purchase from any other Note Holder a participation interest in any future loans originated
by such 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 Borrower
Party, and receive payments on such other loans or extensions of credit to any such party and otherwise act with respect thereto freely
and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

Section 14.           
Sale of the Notes.

(a)              
Except as otherwise provided in Section 14(c) below, 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 (b)(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 (a) obtain the consent of each non-transferring Note Holder and
(b) if any such non-transferring Note Holder’s Note is held in a Securitization Trust, provide each of the applicable engaged Rating
Agencies for such Securitization Trust with a Rating Agency Communication (or, if the transferring Note Holder is the Lead Securitization
Note Holder, obtain a Rating Agency Confirmation from each of the applicable 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
non-transferring Note Holder’s Note is held in a Securitization Trust, until a Rating Agency Confirmation is obtained from each
engaged

    	 	-37-	 

    	 

    

Rating Agency for such Securitization Trust,
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 Borrower 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 any Rating Agency Communication or Rating Agency Confirmation in connection with any such Transfer. Notwithstanding the foregoing,
each Note Holder shall have the right, without the need to obtain the consent of any other Note Holder or of any other Person or having
to provide any Rating Agency Communication or having to obtain any Rating Agency Confirmation, to Transfer 49% or less (in the aggregate)
of its beneficial interest in a Note, other than to the Mortgage Loan Borrower or a Borrower Party. None of the provisions of this Section
14(a) shall apply in the case of (1) a sale of the Lead Securitization Note together with all of the Non-Lead Securitization Notes,
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.

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

(c)              
Notwithstanding any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other
than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that is either
a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent)
or better by each 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) or to a Person with respect to which a Rating Agency Confirmation has been obtained (any of the
foregoing, a “Note Pledgee”), on terms and conditions set forth in this Section 14(c), it being further
agreed that a financing provided by a Note Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note
and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee 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

    	 	-38-	 

    	 

    

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

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

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

    	 	-39-	 

    	 

    

(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, in the form of a copy of the assignment and assumption agreement referred
to in this Section 15, shall be registered in the Note Register. The Person in whose name a Note is so registered shall be
deemed and treated as the sole owner and holder thereof for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall
provide such party with the names and addresses of 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.

    	 	-40-	 

    	 

    

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

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

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

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

    	 	-41-	 

    	 

    

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 32).

Section 19.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and assigns. Except as provided herein, including without limitation, with respect to the
Trustee, Certificate Administrator, Master Servicer and Special Servicer and 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 20.           
Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same instrument, and the words “executed,” “signed,”
“signature,” and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement
or document related to this transaction shall include, in addition to manually executed signatures, images of manually executed signatures
transmitted by facsimile or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”)
and other electronic signatures (including, without limitation, any electronic sound, symbol, or process, attached to or logically associated
with a contract or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures
and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received,
or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use
of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including,
without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

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

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

    	 	-42-	 

    	 

    

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

Section 24.           
Withholding Taxes. (a)(a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required by law
to deduct and withhold Taxes from interest, fees or other amounts payable to 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 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

    	 	-43-	 

    	 

    

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.

Section 25.           
Custody of Mortgage Loan Documents. Prior to the Lead Securitization Date, the originals of all of the Mortgage Loan Documents
(other than the Notes, which will be held by the respective Note Holders or their designated custodians) will be held by the Initial Agent
(or a duly appointed interim servicer or custodian on its behalf) on behalf of the registered holders of the Notes. On and after the Lead
Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Notes, which will be held by the respective Note
Holders or their designated custodians) 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.

Section 26.           
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

    	 	-44-	 

    	 

    

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 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.

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.

Section 27.           
Notices. All notices required hereunder shall be given by (i)  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), (ii) reputable
overnight delivery service (charges prepaid) or (iii) certified United States mail, postage prepaid return receipt requested, and
addressed to the respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter
inform the other party by written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.

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

Section 29.           
Certain Matters Affecting the Agent.

(a)              
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any 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;

    	 	-45-	 

    	 

    

(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 30.           
Reserved.

Section 31.           
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. Citi, 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 Citi without any further notice or other action. The termination or resignation of
the Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation
of such Master Servicer as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically appointed
as the successor Agent under this Agreement in place thereof without any further notice or other action.

Section 32.           
Resizing. Notwithstanding any other provision of this Agreement, for so long as any Note Holder or an affiliate thereof
(an “Original Entity”) is the owner of any Non-Lead Securitization Note that is not included in a Securitization (each,
an “Owned Note”), such Original Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to
cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in 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

    	 	-46-	 

    	 

    

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, (iv) the Original Entity
holding the New Notes shall notify each other Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and
the Trustee in writing of such modified allocations and principal amounts, and (v) the execution of such amendments and New Notes does
not violate the Servicing Standard. If the Lead Securitization Note Holder so requests, the Original Entity holding the New Notes (and
any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes,
as so modified. Except for the foregoing reallocation and for modifications pursuant to the 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 (v) above are
satisfied, with respect to clauses (i) through (iv), as certified by the Original Entity, on which certification the Master
Servicer can rely), 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 the purpose 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]

    	 	-47-	 

    	 

    

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

 

	 	CITI REAL ESTATE FUNDING INC.,
	 	as Note A-1 Holder
	 	 
	 	 
	 	 By:  	/s/ Tina Lin
	 	 	Name: Tina Lin 	
	 	 	Title:   Vice President	 
	 	 	 	 
	 	 	 	 
	 	CITI REAL ESTATE FUNDING INC.,
	 	as Note A-2 Holder
	 	 
	 	 
	 	 By:  	/s/ Tina Lin 
	 	 	Name: Tina Lin 	
	 	 	Title:   Vice President	 
	 	 	 	 
	 	 	 	 
	 	BARCLAYS BANK PLC,
	 	as Note A-3 Holder
	 	 
	 	 
	 	 By:  	/s/ Sabrina Khable
	 	 	Name:  Sabrina Khable 	
	 	 	Title:   Authorized Signatory 	 
	 	 	 	 
	 	 	 	 
	 	BARCLAYS BANK PLC,
	 	as Note A-4 Holder
	 	 
	 	 
	 	 By:  	/s/  Sabrina Khable
	 	 	Name:  Sabrina Khable 	
	 	 	Title:   Authorized Signatory	 
	 	 	 	 
	 	 	 	 

 

Moonwater Portfolio — Agreement Between Note Holders

    	 		 

    	 

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

	Mortgage Loan Borrower:	PREH POWER HOUSE TSSP LLC, POWER HOUSE TSSP, LLC, and MRK POWER HOUSE TSSP LLC, individually and/or collectively, as the context may require
	Date of Mortgage Loan: 	December 30, 2021
	Date of Notes: 	December 30, 2021
	Original Principal Amount of Mortgage Loan:	$116,000,000
	Principal Amount of Mortgage Loan as of the date hereof:	$116,000,000
	Note A-1 Principal Balance:	$40,000,000
	Note A-2 Principal Balance:	$23,000,000
	Note A-3 Principal Balance:	$35,000,000
	Note A-4 Principal Balance:	$18,000,000
	Location of Mortgaged Property:	Las Vegas, Nevada
	Initial Maturity Date:	January 6, 2032

    	 	A-1	 

    	 

    

EXHIBIT B

Note A-1 and Note A-2 Holder

 

Citi Real Estate Funding Inc.

390 Greenwich Street, 6th Floor

New York, New York 10013

Attention: Richard Simpson

Facsimile number: (646) 328-2943

with an electronic copy emailed to: richard.simpson@citi.com

 

with copies to:

 Citi Real Estate Funding Inc.

390 Greenwich Street, 7th Floor

New York, New York 10013

Attention: Raul Orozco

Facsimile number: (347) 394-0898

with an electronic copy emailed to: raul.d.orozco@citi.com

 

and

Citi Real Estate Funding Inc.

388 Greenwich Street, 17th Floor

New York, New York 10013

Attention: Ryan M. O’Connor

Facsimile number: (646) 862-8988

with an electronic copy emailed to: ryan.m.oconnor@citi.com

 

Note A-3 Holder and Note A-4 Holder:

Barclays Bank PLC

745 Seventh Avenue

New York, New York 10019

Attention: Sabrina Khabie

 

    	 	B-1	 

    	 

    

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.	CreXus Investment Corporation/Annaly Capital Management

		11.	DigitalBridge Group, Inc.

		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.	Lend-Lease Real Estate Investments

		26.	Libermax Capital LLC

		27.	LoanCore Capital

		28.	Lone Star Funds

		29.	Lowe Enterprises

		30.	Normandy Real Estate Partners

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

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

		33.	Praedium Group

		34.	Raith Capital Partners, LLC

		35.	Rialto Capital Management, LLC

		36.	Rialto Capital Advisors LLC

		37.	Rimrock Capital Management LLC

		38.	Rockpoint Group

		39.	Rockwood

		40.	RREEF Funds

		41.	Square Mile Capital Management

		42.	Starwood Capital Group/Starwood Financial Trust

		43.	The Blackstone Group

		44.	The Carlyle Group

    	 	C-1	 

    	 

    

		45.	Torchlight Investors

		46.	Walton Street Capital, L.L.C.

		47.	Westbrook Partners

		48.	WestRiver Capital

		49.	Wheelock Street Capital

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

 

    	 	C-2Exhibit 4.20

 

AGREEMENT
BETWEEN NOTEHOLDERS

 

Dated
as of February 4, 2022 by and among

 

BANK
OF MONTREAL

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

 

STARWOOD
MORTGAGE CAPITAL LLC

(Initial Note A-2 Holder, Initial Note A-4 Holder and Initial A-6 Holder)

 

BANK
OF MONTREAL

(Initial Note B-1 Holder)

 

and

 

STARWOOD
MORTGAGE CAPITAL LLC

(Initial Note B-2 Holder)

 

26
Broadway 

 

     

     

    

 

THIS
AGREEMENT BETWEEN NOTEHOLDERS, dated as of February 4, 2022, by and between BANK OF MONTREAL (together with its successors in
interest and assigns, “BMO”), a New York corporation (in its capacity as initial owner of Note A-1, Note A-3
and Note A-5, the “Initial BMO Note A Holder”, and in its capacity as the initial agent, the “Initial
Agent”), STARWOOD MORTGAGE CAPITAL LLC (together with its successors in interest and assigns, “SMC”),
a national banking association (in its capacity as initial owner of Note A-2 and Note A-4 and Note A-6, the “Initial
SMC Note A Holder” and, together with the Initial BMO Note A Holder, the “Initial Note A Holders”),
BMO (in its capacity as initial owner of Note B-1, the “Initial Note B-1 Holder”), and SMC (in its capacity
as initial owner of Note B-2, the “Initial Note B-2 Holder”, and, together with the Initial Note B-1 Holder,
the “Initial Subordinate Noteholders”, and the Initial Subordinate Noteholders together with the Initial Note
A Holders, the “Initial Noteholders”).

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), on February 4, 2022 (the “Origination Date”) BMO
and SMC, as lenders (collectively, the “Original Lender”) co-originated a certain loan in the aggregate principal
amount of $290,000,000 (the “Mortgage Loan”) to the mortgage loan borrower described on the Mortgage Loan Schedule
(as defined herein) (the “Borrower”), which Mortgage Loan was at origination evidenced, inter alia,
by a single promissory note made by the Borrower in favor of the Initial Noteholders;

 

WHEREAS,
BMO, SMC and the Borrower have agreed, pursuant to that certain Note Splitter Agreement, dated as of February 4, 2022, between
such parties, to split the Original Note into eight promissory notes (collectively, the “Replacement Notes”)
and the Mortgage Loan Borrower has executed and delivered: (i) to BMO four (4) promissory notes designated as Note A-1, in the
original principal amount of $22,600,000, Note A-3, in the original principal amount of $20,000,000, Note A-5, in the original
principal amount of $13,900,000 and Note B-1, in the original principal amount of $88,500,000; and (ii) to SMC four (4) promissory
notes designated as Note A-2, in the original principal amount of $22,600,000, Note A-4, in the original principal amount of $20,000,000,
Note A-6, in the original principal amount of $13,900,000 and Note B-2, in the original principal amount of $88,500,000;

 

WHEREAS,
as of the date hereof, the Mortgage Loan is evidenced by the Replacement Notes set forth in the following table (with the “Note
Designations” being as defined herein) and has the characteristics set forth on the Mortgage Loan Schedule;

 

     

     

    

 

	Note
                                         Designation 
	Principal
                                         Balance as of

        

        February
        4, 2022

        

	Note
    A-1	$22,600,000
	Note
    A-2	$22,600,000
	Note
    A-3	$20,000,000
	Note
    A-4	$20,000,000
	Note
    A-5	$13,900,000
	Note
    A-6	$13,900,000
	Note
    B-1	$88,500,000
	Note
    B-2	$88,500,000

 

WHEREAS,
on the date of this Agreement, BMO and SMC intend (but is not required) to transfer Note A-1, Note A-2, Note B-1 and Note B-2
to BMO Commercial Mortgage Securities LLC. for inclusion in a Securitization;

 

WHEREAS,
the parties hereto desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns,
shall hold each of their respective 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,” the “preamble” or the “recitals” are, unless
otherwise specified, to a Section, the preamble or the recitals of this Agreement. Capitalized terms not otherwise defined herein
shall have the meaning ascribed thereto or to any analogous term in the Servicing Agreement. Whenever used in this Agreement,
including, without limitation, in the preamble and the recitals, the following terms shall have the respective meanings set forth
below unless the context clearly requires otherwise.

 

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

 

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

 

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

 

“Additional
Servicing Expenses” shall mean (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable
to any Servicer, Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the
Mortgage Loan, and (b) all interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the
Servicing Agreement or (y) any Non-Lead Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization
Servicing Agreement.

 

     2

     

    

 

“Advance
Interest Amount” shall mean interest payable on Advances, as specified in the Servicing Agreement or a Non-Lead Securitization
Servicing Agreement, as applicable.

 

“Advances”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement
or Non-Lead Securitization Servicing Agreement, as applicable (but for purposes hereof shall be limited to Advances in respect
of the Mortgage Loan or the Property).

 

“Affiliate”
shall mean with respect to any specified Person (i) any other Person Controlling or Controlled by or under common Control
with such specified Person (each a “Common Control Party”), (ii) any other Person owning, directly or
indirectly, ten percent (10%) or more of the beneficial interests in such Person or (iii) any other Person in which such
Person or a Common Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after
the Securitization Date shall mean the Certificate Administrator, if any, and if there is no Certificate Administrator, shall
mean the Trustee.

 

“Agent
Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement
is located at Bank of Montreal, c/o BMO Capital Markets Corp., 151 West 42nd Street, New York, New York 10036, Attention: Mike
Birajiclian, Email: Michael.Birajiclian@bmo.com; with a copy to Bank of Montreal, c/o BMO Capital Markets Corp., 151 West 42nd
Street, New York, New York 10036, Attention: Legal Department, Email: BMOCMUSLegal@bmo.com, and which is the address to which
notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated office by
notice to the Noteholders.

 

“Agreement”
shall mean this Agreement Between Noteholders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

 

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

 

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

 

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

 

“Asset
Representations Reviewer” shall mean the asset representations reviewer, if any, appointed pursuant to the Lead Securitization
Servicing Agreement.

 

“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.

 

     3

     

    

 

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

 

“B
Note” shall mean each of Note B-1 and Note B-2.

 

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

 

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

 

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

 

“Borrower
Related Party” shall have the meaning assigned to such term in Section 15.

 

“Borrower
Restricted Party” means, individually or collectively, as the context may require, (i) the Borrower, any sponsor of
the Borrower, any borrower under a related mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan,
any operating lessee or property manager of the Property, or any of their respective managers, servicers, agents or affiliates,
(ii) a Restricted Holder, (iii) any Person controlling or controlled by or under common control with the Borrower, any sponsor
of the Borrower, any borrower under a related mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan,
any operating lessee or property manager of the Property, or a Restricted Holder, as applicable, or (iv) any shareholder, partner,
member or non-member manager, or any direct or indirect legal or beneficial owner of any interest in the Borrower, any sponsor
of the Borrower, any borrower under a related mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan,
any operating lessee or property manager of the Property, or a Restricted Holder (other than any shareholder, partner, member
or owner owning less than a 10% non-controlling direct or indirect legal or beneficial interest in any of the foregoing). For
the purposes of this definition, “control” when used with respect to any specific Person means the power to direct
the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract
or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 

“Business
Day” shall have the meaning assigned to such term in the Servicing Agreement or a Non-Lead Securitization Servicing
Agreement, as applicable.

 

“CDO
Asset Manager” with respect to any Securitization Vehicle which is a CDO, shall mean the entity which is responsible
for managing or administering the applicable 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 the applicable Note).

 

“Certificate
Administrator” shall mean the certificate administrator appointed pursuant to the Lead Securitization Servicing Agreement.

 

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

 

     4

     

    

 

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

 

“Commission”
means the U.S. Securities and Exchange Commission or any successor thereto.

 

“Companion
Distribution Account” shall have the meaning assigned to such term or the term “Serviced Whole Loan Collection
Account” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

“Conduit”
shall have the meaning assigned to such term in Section 16(f).

 

“Conduit
Credit Enhancer” shall have the meaning assigned to such term in Section 16(f).

 

“Conduit
Inventory Loan” shall have the meaning assigned to such term in Section 16(f).

 

“Control”
means 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.

 

“Controlling
Class Representative” shall mean the “Controlling Class Representative” as defined in the Servicing Agreement
or such other analogous term used in the Servicing Agreement.

 

“Controlling
Noteholder” shall mean, as of any date of determination, the Trustee as holder of Note B-1.

 

“Controlling
Noteholder Representative” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 5(a).

 

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

 

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

 

“Default
Interest” shall mean with respect to any Note, interest on such Note at a rate per annum equal to interest accrued
thereon at the Default Rate in excess of the Interest Rate applicable to such Note.

 

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

 

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

 

     5

     

    

 

“Depositor”
shall mean the Person selected by the Lead Securitization Noteholder to create the Securitization Trust.

 

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

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

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

 

“Indemnified
Items” shall mean, collectively, any claims, losses, penalties, fines, forfeitures, reasonable 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 Property under the Servicing Agreement.

 

“Indemnified
Parties” shall mean, collectively, (i) 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
Servicing Agreement, each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, any Operating
Advisor, any Asset Representations Reviewer and the Depositor (and any director, officer, employee or agent of any of the foregoing,
to the extent such parties are identified as indemnified parties in the Servicing Agreement in respect of other mortgage loans)
and (ii) the Lead Securitization Trust.

 

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

 

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

 

“Initial
Note A Holders” shall mean 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 and the Initial Note A-6 Holder, collectively.

 

“Initial
Note B Holder” shall mean the Initial Note B-1 Holder and the Initial Note B-2 Holder.

 

“Initial
Noteholders” shall mean the Initial Note A Holders and the Initial Note B Holders, collectively.

 

“Initial
Subordinate Noteholder” shall mean the Initial Note B Holder.

 

“Insolvency
Proceeding” shall mean any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other
insolvency, liquidation, reorganization or other similar proceeding concerning the Borrower, any action for the dissolution of
the Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the 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 Borrower or any other action concerning the adjustment of the debts of the
Borrower, the cessation

 

     6

     

    

 

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

 

“Insurance
and Condemnation Proceeds” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous
term used in the Servicing Agreement.

 

“Interest
Rate” shall, with respect to any Note, have the meaning assigned to such term in the Mortgage Loan Agreement.

 

“Interested
Person” shall mean the Depositor, a Non-Lead Depositor, the Master Servicer, a Non-Lead Master Servicer, the Special
Servicer, a Non-Lead Special Servicer, a Non-Lead Trustee, the Borrower, any manager of the Property, any independent contractor
engaged by any of the foregoing parties, a Non-Lead Operating Advisor, the Controlling Noteholder, the Controlling Noteholder
Representative, a Non-Controlling Noteholder, the Controlling Class 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 CDO, shall mean a trust vehicle or entity which
holds the applicable Note as collateral securing (in whole or in part) any obligation or security held by such Securitization
Vehicle as collateral for the CDO.

 

“KBRA”
shall mean Kroll Bond Rating Agency, LLC, or its successor in interest.

 

“Lead
Securitization” shall mean the sale by the holder of a Lead Securitization Note of all of such Note (or the first securitization
of any portion of a Lead Securitization Note, if applicable) to the Depositor, who will in turn include such portion of such Note
as part of a securitization of one or more mortgage loans.

 

“Lead
Securitization Date” shall mean the closing date of a Lead Securitization.

 

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

 

“Lead
Securitization Noteholder” shall mean the holder of a Lead Securitization Note.

 

“Lead
Securitization Servicing Agreement” shall mean a trust and servicing agreement, subject to Section 2 hereof,
to be entered into in connection with the Lead Securitization, by and among (a) the Person who serves as Trustee from and
after the Lead Securitization Date, (b) the Person who serves as Servicer from and after the Lead Securitization Date, (c) the
Person which serves as Special Servicer from and after the Lead Securitization Date, (d) the Person who serves as Certificate
Administrator from and after the Lead Securitization Date and (e) the Depositor, and any other additional Persons that may
be party to such pooling and

 

     7

     

    

 

servicing
agreement; provided it is acknowledged that such agreement is subject in all respects to changes (i) required by the Code
relating to the tax elections of the related Securitization Trust (ii) required by law or changes in any law, rule or regulation
and (iii) requested by the Rating Agencies or any purchaser of subordinate certificates.

 

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

 

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

 

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

 

“Major
Decisions” shall have the meaning given to such term or any one or more analogous terms in the Servicing Agreement;
provided that at any time that the Lead Securitization Note is not included in the Lead Securitization, “Major Decision”
shall mean:

 

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

 

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

 

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

 

(iv)          
any sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or the Property (when it is held as Foreclosed Property)
for less than the outstanding principal balance of the Mortgage Loan, all accrued and unpaid interest (other than Accrued Interest)
at the respective Interest Rates for the Notes and all Additional Servicing Expenses;

 

(v)          
any determination to bring the Property into compliance with applicable environmental laws or to otherwise address any Hazardous
Materials (as defined in the Servicing Agreement) located at the Property or an REO Mortgage Loan;

 

(vi)          
any release of material collateral or any acceptance of substitute or additional collateral for the Mortgage Loan or any consent
to either of the

 

     8

     

    

 

foregoing,
other than if required pursuant to the specific terms of the related Mortgage Loan Documents and for which there is no lender
discretion;

 

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

 

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

 

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

 

(x)           
any property management company changes, including, without limitation, approval of a new property manager or the termination
of a manager and appointment of a new property manager or franchise changes, and any new management agreement or amendment, modification
or termination of any management agreement (in each case, if the lender is required to consent or approve such changes under the
Mortgage Loan Documents);

 

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

 

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

 

(xiii)        
any determination of an Acceptable Insurance Default;

 

(xiv)        
any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances where the
Master Servicer determines, in its reasonable business judgment, exercised in accordance with the Accepted Servicing Practices,
that a default consisting of a failure to make a payment of principal or interest is reasonably foreseeable or there is a significant
risk of such default or any other default that is likely to impair the use or marketability of the Property or such other analogous
event described in the definition of Servicing Transfer Event; or

 

(xv)          any
modification, waiver or amendment of any lease, the execution of any new lease or the granting of a subordination and nondisturbance
or

 

     9

     

    

 

attornment
agreement in connection with any lease, at the Property if it would be a Major Lease (as defined in the Mortgage Loan Agreement).

 

“Master
Servicer” shall mean the servicer or master servicer appointed pursuant to the Servicing Agreement.

 

“Monthly
Payment” shall have the meaning assigned to the term “Monthly Debt Service Payment Amount” in the Mortgage
Loan Agreement.

 

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

 

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

 

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

 

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

 

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of February 4, 2022, between the Borrower, as borrower, and
the Original Lender, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to
time, subject to the terms hereof.

 

“Mortgage
Loan 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 mean the schedule attached as Exhibit A to this Agreement.

 

“Net
Interest Rate” shall mean, with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable
to such Note.

 

“New
Note(s)” shall have the meaning assigned to such term in Section 35.

 

“Non-Controlling
Note” shall mean each Note other than the Note that entitles its holder to be the Controlling Noteholder.

 

“Non-Controlling
Noteholder” shall mean each Noteholder other than the Controlling Noteholder; provided that, if at any time a
Non-Controlling Note is held by (or, at any time a Non-Controlling Note is included in a Non-Lead Securitization, the related
Non-Lead Securitization Subordinate Class Representative is) a Borrower Restricted Party, no Person shall be entitled to exercise
the rights of such Non-Controlling Noteholder with respect to such Non-Controlling Note.

 

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

 

“Non-Lead
Certificate Administrator” shall mean the “certificate administrator” or such other analogous term under
a Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead
Securitization Note” shall mean a Senior Note that is neither the Lead Securitization Note nor otherwise part of the
Lead Securitization.

 

“Non-Lead
Securitization Noteholder” shall mean each holder of a Non-Lead Securitization Note, provided that at any time
a Senior Note that is not a Lead Securitization Note is included in a Securitization other than the Lead Securitization, references
to the “Non-Lead Securitization Noteholder” herein shall mean the Non-Lead Securitization Subordinate Class Representative
under the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement and as to the identity of which the Lead Securitization Noteholder (and the Master Servicer and the Special
Servicer) has been given written notice. The Lead Securitization Noteholder (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 exercising the rights of a “Non-Lead Securitization
Noteholder” herein or under the Servicing Agreement and, to the extent that the related Non-Lead Securitization Servicing
Agreement assigns such rights to more than one party, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement
shall designate one party to deal with the Lead

 

     11

     

    

 

Securitization
Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation
to the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer acting on its behalf) (such party, the
related “Non-Lead Securitization Noteholder Representative”); provided that, in the absence of such
designation and notice, the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf)
shall be entitled to treat the last party as to which it has received written notice as having been designated as the Non-Lead
Securitization Noteholder Representative with respect to such Non-Controlling Note for all purposes of this Agreement.

 

Prior
to Securitization of any Non-Lead Securitization Note by the related Non-Lead Securitization Noteholder (including any New Notes),
all notices, reports, information or other deliverables required to be delivered to such Non-Lead Securitization Noteholder pursuant
to this Agreement or the Servicing Agreement by the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer
acting on its behalf) only need to be delivered to each Non-Lead Securitization Noteholder Representative and, when so delivered
to each Non-Lead Securitization Noteholder Representative, the Lead Securitization Noteholder (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 Servicing Agreement. Following Securitization of any Non-Lead Securitization Notes by the related Non-Lead Securitization
Noteholder, all notices, reports, information or other deliverables required to be delivered to such Non-Lead Securitization Noteholder
pursuant to this Agreement or the Servicing Agreement by the Lead Securitization Noteholder (or the Master Servicer or the Special
Servicer acting on its behalf) shall be delivered to the related Non-Lead Master Servicer and the related Non-Lead Special Servicer
(who then may forward such items to the party entitled to receive such items as and to the extent provided in the related Non-Lead
Securitization Servicing Agreement) and, when so delivered to the related Non-Lead Master Servicer and the related Non-Lead Special
Servicer, the Lead Securitization Noteholder (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 Servicing Agreement.

 

“Non-Lead
Securitization Noteholder Representative” shall have the meaning assigned to such term in the definition of “Non-Lead
Securitization Noteholder”.

 

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

 

“Non-Lead
Securitization Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued
in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization
Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued
in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Noteholder” or a “Non-Controlling Noteholder” is held
by a Borrower Restricted Party, no Person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate
Class Representative.

 

“Non-Lead
Securitization Trust” shall mean each Securitization Trust into which any Non-Lead Securitization Note is deposited.

 

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“Non-Lead
Servicer” shall mean, in respect of any Non-Lead Securitization Note, the related Non-Lead Master Servicer or related
Non-Lead Special Servicer, as applicable.

 

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

 

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

 

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

 

“Note”
shall mean any of the A Notes or any of the B Notes.

 

“Note
A Holder(s)” shall mean the Noteholder(s) of A Notes.

 

“Note
A-1” shall mean that certain Promissory Note (Note A-1), dated February 4, 2022, as the same may be amended, modified,
supplemented, extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
A-2” shall mean that certain Promissory Note (Note A-2), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
A-3” shall mean that certain Promissory Note (Note A-3), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
A-4” shall mean that certain Promissory Note (Note A-4), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
A-5” shall mean that certain Promissory Note (Note A-5), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
A-6” shall mean that certain Promissory Note (Note A-6), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
B Holder(s)” shall mean the Noteholder(s) of B Notes.

 

“Note
B-1” shall mean that certain Promissory Note (Note B-1), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

     13

     

    

 

“Note
B-2” shall mean that certain Promissory Note (Note B-2), dated February 4, 2022, as the same may be amended, modified,
supplemented extended, restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

 

“Note
Pledgee” shall have the meaning assigned to such term in Section 16(e).

 

“Note
Register” shall have the meaning assigned to such term in Section 18.

 

“Noteholder”
and “Note Holder” shall each mean, with respect to any Note, the Initial Noteholder thereof, or any subsequent
holder of such Note, together with its successors and assigns.

 

“Operating
Advisor” shall mean the operating advisor, if any, appointed pursuant to the Lead Securitization Servicing Agreement.

 

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

 

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

 

“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached
hereto and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests
relating to commercial real estate, (ii) investing through a fund or funds with committed capital of at least $500,000,000 and
(iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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

 

“Pledge”
shall have the meaning assigned to such term in Section 16(e).

 

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

 

“Principal
Balance” shall mean, with respect to any Note as of any date of determination, the principal balance as of the date
of this Agreement set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount
pursuant to Section 3 or Section 4, as applicable.

 

“Pro
Rata and Pari Passu Basis” shall mean (i) with respect to the A Notes and the Note A Holders, the allocation of any
particular payment, collection, cost, expense, liability or other amount among the A Notes or the Note A Holders, as the case
may be, in accordance with a specified basis and without any priority of any A Note or any Note A Holder over another A Note or
Note A Holder, as the case may be, and in any event such that each A Note or Note A Holder, as the case may be, is allocated its
respective pro rata portion (in accordance with the applicable specified basis) of such particular payment, collection,
cost, expense, liability or other amount; and (ii) with respect to the B Notes and the Note B Holders, the allocation of any particular

 

     14

     

    

 

payment,
collection, cost, expense, liability or other amount among the B Notes or the Note B Holders, as the case may be, in accordance
with a specified basis and without any priority of any B Note or any Note B Holder over another B Note or Note B Holder, as the
case may be, and in any event such that each B Note or Note B Holder, as the case may be, is allocated its respective pro rata
portion (in accordance with the applicable specified basis) of such particular payment, collection, cost, expense, liability
or other amount.

 

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

 

“Property
Protection Advances” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous
term used in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable, but only as such term relates
to the Mortgage Loan or the Property.

 

“Qualified
Institutional Lender” shall mean each of the Initial Noteholders (and any Affiliates and subsidiaries of such entity)
and any other Person that is:

 

(a) an
entity Controlled (as defined below) by, under common Control with or Controlling any Initial Noteholder, or

 

(b)
one or more of the following:

 

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

 

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

 

(iii)         
a Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns or pledges
its Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization
of, (b) the creation of collateralized debt obligations (“CDO”) secured by, or (c) a financing through an “owner
trust” of, a Note (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies
which assigned a rating to any classes of securities issued in connection with the closing of such securitization; (2) in the
case of a Securitization Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required Special
Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note in accordance with servicing arrangements
for the assets held

 

     15

     

    

 

by
the Securitization Vehicle which require that such Approved Servicer act in accordance with a servicing standard notwithstanding
any contrary direction or instruction from any other Person; or (3) in the case of a Securitization Vehicle that is a CDO, the
CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CDO Asset Manager
which is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses (i), (ii), (iii),
(iv)or (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 $500,000,000, in which (A) the applicable Noteholder, (B) a Person that is otherwise a Qualified Institutional Lender
under clauses (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 entity substantially similar to any of the foregoing, and

 

(vi)          
in the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii), (b)(iv)(B) or (b)(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, asset manager or similar fiduciary) and at least $500,000,000 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 junior CMBS securities 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

 

(vii)        
a Person that is otherwise a Qualified Institutional Lender but is acting in an agency capacity for a syndicate of lenders where
at least 51% of the lenders in such syndicate are otherwise Qualified Institutional Lenders under clauses (b)(i), (ii),
(iv), (v) and (vi) above, or

 

(c) any
entity Controlled (as defined below) by any of the entities described in clause (b) above or approved by the Rating Agencies
hereunder as a Qualified Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have stated they
would not review such entity in connection with the subject transfer.

 

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

 

“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.

 

“Rating
Agencies” shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS Morningstar and (e) KBRA or, (f) if
any of such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally
recognized statistical rating agency reasonably designated by the Depositor or a Non-Lead Depositor to rate the securities issued
in connection with the Securitization of any A Note; provided, however, that, at any time during which any Note is an asset of
one or more Securitizations, “Rating Agencies” or “Rating Agency” shall mean only those rating agencies
that are engaged by the Depositor or such Non-Lead Depositor, as applicable, from time to time to rate the securities issued in
connection with the Securitization of such Note.

 

“Rating
Agency Confirmation” shall mean, after a Securitization, the meaning given thereto or any analogous term in the Servicing
Agreement including any deemed Rating Agency Confirmation.

 

“Redirection
Notice” shall have the meaning assigned to such term in Section 16(e).

 

“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 of Section 860D(a) of the Code.

 

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

 

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

 

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“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included
in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the
date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage
securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as
special servicer of such commercial mortgage loans, (iv) in the case of KBRA, KBRA has not cited servicing concerns of such special
servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch
status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer
prior to the time of determination, and (v) in the case of DBRS Morningstar, either a commercial mortgage servicer or special
servicer (a) that has a current ranking from DBRS Morningstar of at least MORS3, or (b) if not rated by DBRS Morningstar, that
is currently acting as servicer or special servicer, as applicable, for a commercial mortgage-backed securities transaction rated
by DBRS Morningstar and as to which DBRS Morningstar has not cited servicing concerns with respect to such servicer as the sole
or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in
contemplation of a ratings downgrade or withdrawal, which placement on “watch status” has not been withdrawn within
60 days without any ratings downgrade or withdrawal) of securities in such commercial mortgage-backed securities transaction serviced
by the applicable servicer prior to the time of determination.

 

“Restricted
Holder” shall mean any holder of a related mezzanine loan (or any affiliate, manager or agent thereof) or an owner of
any interest in any related mezzanine loan (whether legally, beneficially or otherwise, including as a holder of a note evidencing
a related mezzanine loan, a holder of a participation interest in a related mezzanine loan or a beneficial owner of any interest
in a related mezzanine loan or any securities collateralized by a related mezzanine loan) (a) as to which an event of default
has occurred under such mezzanine loan giving rise to an automatic acceleration of such mezzanine loan or the right of the lender
thereunder to accelerate such mezzanine loan or (b) as to which foreclosure proceedings against the related collateral have been
initiated.

 

“Reverse
Sequential Order” shall mean: (a) first, to the reduction of the Principal Balances of the B Notes, on a Pro
Rata and Pari Passu Basis based on the respective Principal Balances of such Notes, until the Principal Balance of each such B
Note is reduced to zero; and (b) second, to the reduction of the Principal Balances of the A Notes, on a Pro Rata and Pari
Passu Basis based on the respective Principal Balances of such Notes, until the Principal Balance of each A Note is reduced to
zero.

 

“Risk
Retention Requirements” shall mean the credit risk retention requirements of Section 15G of the Exchange Act (15
U.S.C. §78o-11), as added by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

 

“Risk
Retention Rules” shall mean the joint final rule that was promulgated to implement the Risk Retention Requirements (which
such joint final rule has been codified, inter alia, at 12 C.F.R. Part 43), as such rule may be amended from time to time, and
subject to such

 

     18

     

    

 

clarification
and interpretation as have been provided by the Office of the Comptroller of the Currency, the Board of Governors of the Federal
Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Commission and the Department
of Housing and Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.) or by the staff of any such agency, or as
may be provided by any such agency or its staff from time to time, in each case, as effective from time to time as of the applicable
compliance date specified therein.

 

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

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

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

 

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

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which an A Note is held.

 

“Senior
Notes” shall mean the A Notes, individually or collectively, as the context may require.

 

“Senior
Noteholder(s)” shall mean the Note A Holders, individually or collectively, as the context may require.

 

“Sequential
Order” shall mean (a) first, to the reduction of the Principal Balances of the A Notes, on a Pro Rata and Pari
Passu Basis based on the respective Principal Balances of such Notes, until the Principal Balance of each A Note is reduced to
zero; and (b) second, to the reduction of the Principal Balances of the B Notes, on a Pro Rata and Pari Passu Basis based
on the respective Principal Balances of such Notes, until the Principal Balance of each B Note is reduced to zero.

 

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

 

“Servicing
Agreement” shall mean, with respect to the Mortgage Loan, the Lead Securitization Servicing Agreement, together with
any amendment, restatement, supplement, replacement or modification thereto entered into in accordance with the terms hereof or
thereof, or any Substitute Servicing Agreement.

 

“Servicing
Fee Rate” shall be the per annum rate at which primary servicing fees are payable in respect of the Mortgage
Loan as set forth in the Servicing Agreement. The Servicing Fee Rate shall not reflect any master servicing fees payable by any
Noteholder.

 

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“Servicing
Transfer Event” shall have the meaning assigned to such term (or any term similar thereto including “Specially
Serviced Loan”) in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

“Special
Servicer” shall mean the special servicer appointed pursuant to the Servicing Agreement and this Agreement.

 

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

 

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

 

“Subordinate
Notes” shall mean the B Notes, individually or collectively, as the context may require.

 

“Subordinate
Noteholder(s)” shall mean the Note B Holders, individually or collectively, as the context may require.

 

“Substitute
Servicing Agreement” means a servicing agreement that contains servicing provisions which are the same as or more favorable
to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable
provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable
reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing
Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is
in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent
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 mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement, excluding a repurchase financing or a Pledge in accordance with Section 16(e)).

 

“Triggering
Event of Default” shall mean (i) any Event of Default with respect to an obligation of the Borrower to pay money due
under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced
Mortgage Loan (which, for clarification, shall not include any imminent Event of Default).

 

“Trust
Fund Expenses” shall have the meaning assigned to such term or any analogous term in the Servicing Agreement.

 

“Trustee”
shall mean the trustee appointed pursuant to the Lead Securitization Servicing Agreement.

 

     20

     

    

 

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

 

“Workout”
shall mean any written modification, waiver, amendment, restructuring or workout of the Mortgage Loan or the Note entered into
with the Borrower in accordance with the Servicing Agreement.

 

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

 

Section 2.               
Servicing.

 

(a)               
Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced pursuant to this
Agreement and the Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments
of principal or interest in respect of the Notes other than for any Note in the Lead Securitization (and a Non-Lead Master Servicer
may be required to advance monthly payments of principal and interest on a Non-Lead Securitization Note included in a Non-Lead
Securitization pursuant to the terms of the Non-Lead Securitization Servicing Agreement) if such principal or interest is not
paid by the Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related
to the maintenance of the Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of
the Servicing Agreement (including a determination of recoverability thereunder). Each Noteholder acknowledges that each Initial
Noteholder (if it is not already the trustee for a Securitization Trust) may elect, in its sole discretion, to include the related
Note in a Securitization and agrees that it will reasonably cooperate with such other Noteholder, at such other Noteholder’s
expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Noteholder hereby irrevocably
and unconditionally consents to the appointment of the Master Servicer, the Certificate Administrator, any Operating Advisor,
any Asset Representations Reviewer and the Trustee under the Servicing Agreement by the Depositor, and the appointment of the
Special Servicer as the initial Special Servicer under the Servicing Agreement by the Depositor (subject to replacement by the
Controlling Noteholder as provided herein) 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 this Agreement and the Servicing Agreement. Each Noteholder
hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Noteholder’s
attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing of the Mortgage Loan
on its behalf under the Servicing Agreement (subject at all times to the rights of the Noteholders set forth herein and in the
Servicing Agreement). In no event shall the Servicing Agreement require any Servicer to enforce the rights of any Noteholder against
any other Noteholder or limit any Servicer in enforcing the rights of one Noteholder against any other

 

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Noteholder;
however, this statement shall not be construed to otherwise limit the rights of one Noteholder with respect to any other Noteholder.
Each Servicer shall be required pursuant to the Servicing Agreement to service the Mortgage Loan in accordance with the Accepted
Servicing Practices, this Agreement, the terms of the Mortgage Loan Documents, the Servicing Agreement, any intercreditor agreement
and applicable law, and shall not take any action or refrain from taking any action or follow any direction inconsistent with
the foregoing.

 

(b)              
No Noteholder shall be entitled to exercise any rights of the “directing holder”, “consenting or consulting
party”, “controlling or consulting class,” “controlling class representative” or any analogous class
or holder of Certificates (as defined in the Lead Securitization Servicing Agreement) under the Servicing Agreement except, in
the case of the Controlling Noteholder, to the extent such holder is given such rights expressly under the terms of this Agreement
or the Servicing Agreement in its capacity as the Controlling Noteholder, and in no event may any such “directing holder”,
“consenting or consulting party”, controlling, consenting or consulting class or analogous class or holder of certificates
backed solely by B Note under the Servicing Agreement have any of the rights of the Controlling Noteholder hereunder.

 

(c)               
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) (i) shall be required to make Property Protection Advances with respect
to the Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be
required to make principal and interest Advances on any Note in the Lead Securitization, if and to the extent provided in the
Lead Securitization Servicing Agreement and this Agreement. 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 principal and interest Advance it has made with respect
to the Lead Securitization Note within two (2) Business Days of making such Advance. The Master Servicer, the Special Servicer
and the Trustee, as applicable, will be entitled to reimbursement for a Property Protection Advance, first from funds on deposit
in each of the Collection Account and the Companion Distribution Account that (in any case) represent amounts received on or in
respect of the Mortgage Loan in the manner provided in the Lead Securitization Servicing Agreement, and then, if such Property
Protection Advance is a Nonrecoverable Advance, and if such funds on deposit in the Collection Account and Companion Distribution
Account are insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing
Agreement and from general collections of each Non-Lead Securitization as provided below. The Master Servicer, the Special Servicer
and the Trustee, as applicable, will be entitled to reimbursement for Advance Interest Amounts on a Property Protection Advance,
in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections
of the Lead Securitization and, in the case of Property Protection Advances that are Nonrecoverable Advances, from general collections
of each Non-Lead Securitization as provided below. 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 unrelated to the Mortgage
Loan or the Property as a reimbursement for a Property Protection Advance that is a Nonrecoverable Advance or any Advance Interest
Amounts on such a Nonrecoverable Advance, the Non-Lead Securitization Noteholder (including from general collections or any other
amounts from the Non-Lead Securitization Trust) 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

 

     22

     

    

 

Advance
Interest Amounts. If the Master Servicer determines that a proposed principal and interest Advance with respect to the Lead Securitization
Note or Property Protection Advance with respect to the Mortgage Loan, if made, or any outstanding principal and interest Advance
or Property Protection Advance previously made, would be, or is, as applicable, a Nonrecoverable Advance (as defined in the Lead
Securitization Servicing Agreement), the Master Servicer shall provide the Non-Lead Master Servicer written notice of such determination
promptly after such determination was made together with such reports that the Master Servicer delivered to the Special Servicer
or Trustee in connection with notification of its determination of nonrecoverability.

 

In
addition, a Non-Lead Securitization Noteholder whose Non-Lead Securitization Note has been included in a Non-Lead Securitization
Trust shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead
Securitization for the Non-Lead Securitization Noteholder’s pro rata share of any Trust Fund Expenses with respect
to the Mortgage Loan or the Property, any other fees, costs or expenses incurred in connection with the servicing and administration
of the Mortgage Loan and allocable to the Non-Lead Securitization Noteholders pursuant to this Agreement and as to which the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Depositor, as applicable, is entitled to be
reimbursed pursuant to the Lead Securitization Servicing Agreement, and any fees, costs or expenses related to obtaining a Rating
Agency Confirmation and allocated to the Non-Lead Securitization Noteholders, in each case to the extent amounts on deposit in
the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of
such amounts (which such reimbursement shall be made from general collections or any other amounts from such Non-Lead Securitization
Trust). If a Non-Lead Securitization Note has been included in a Non-Lead Securitization, the related Non-Lead Securitization
Noteholder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the Indemnified
Parties) against any Indemnified Items to the extent of its pro rata share of such Indemnified Items, and to the extent
amounts on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient
for reimbursement of such amounts, the Non-Lead Securitization Noteholder 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 from general collections or any other amounts from such Non-Lead Securitization Trust.

 

The
Non-Lead Master Servicer may be required to make principal and interest Advances on a Non-Lead Securitization Note included in
a Non-Lead Securitization, 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 principal and interest 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. The Non-Lead Master Servicer and the Non-Lead Special Servicer and the Non-Lead Trustee, as applicable, shall
be entitled to make their own recoverability determination with respect to a principal and interest Advance to be made on a Non-Lead
Securitization Note based on the information that they have on hand and in accordance with the Non-Lead Securitization Servicing
Agreement. The Master Servicer and the Trustee, as

 

     23

     

    

 

applicable,
and the Non-Lead Master Servicer or the Non-Lead Trustee shall be required to notify each other servicer and trustee with respect
to a Securitization of the amount of its principal and interest 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 a Note in the Lead Securitization) or
the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee, as applicable (with respect to a Non-Lead
Securitization Note), determines that a proposed principal and interest Advance, if made, would be non-recoverable or an outstanding
principal and interest 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 Property Protection Advance would be non-recoverable or an outstanding
Property Protection Advance is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization
Servicing Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the
Trustee) or the Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization Servicing Agreement,
in the case of a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead
Trustee) shall notify the Master Servicer and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as the case
may be, within two (2) Business Days of making such determination. Each of the Master Servicer, the Trustee, the Non-Lead Master
Servicer and the Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a principal and interest Advance
first, from the Collection Account or the Companion Distribution Account from Default Interest and late payment charges collected
on the Mortgage Loan, as and to the extent contemplated by the Servicing Agreement, and from amounts allocable to the Note for
which such principal and interest Advance was made, and then, if funds are insufficient, (i) in the case of a Note in the Lead
Securitization, 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 Non-Lead Securitization Trust,
as and to the extent provided in the Non-Lead Securitization Servicing Agreement. Advance Interest Amounts on a principal and
interest Advance shall be reimbursed from Default Interest and late payment charges collected on the Mortgage Loan, as and to
the extent contemplated by the Servicing Agreement, from amounts paid by the Borrower to cover such Advance Interest Amounts and
otherwise first, from amounts allocable to more subordinate Notes and then, from amounts allocable to the subject Note, as provided
under Section 3(d).

 

(d)              
At any time after the Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced in accordance
with the servicing provisions set forth in the Lead Securitization Servicing Agreement as if such agreement was still in full
force and effect with respect to the Mortgage Loan or a Substitute Servicing Agreement; provided, however, that the Master Servicer
under the Servicing Agreement shall have no further obligations to advance monthly payments of principal or interest; provided,
further, however, that until a replacement servicing agreement is in place, the actual servicing of the Mortgage Loan may be performed
by any nationally recognized commercial mortgage loan servicer appointed by Lead Securitization Noteholder and the special servicer
appointed by the Controlling Noteholder and does not have to be performed by the service providers set forth under the Servicing
Agreement; provided, further, however, that until a replacement servicing agreement has been entered into, 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

 

     24

     

    

 

Special
Servicer, the Trustee and the Custodian shall reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection
with such Asset Review by providing the Non-Lead Asset Representations Reviewer with any documents reasonably requested by the
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) the Non-Lead Asset Representations Reviewer has
not been able to obtain such documents from the related mortgage loan seller.

 

(e)               
Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Master Servicer pursuant to the terms
hereof shall be performed by the Master Servicer or the Special Servicer, as applicable, as set forth in the Servicing Agreement.

 

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

 

(i)           
the Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer and each Non-Lead
Trustee of any Monthly Interest Payment 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 Monthly Interest Payment Advance with respect to the Lead Securitization Note
or Property Protection Advance with respect to the Mortgage Loan, if made, or any outstanding Monthly Interest Payment Advance
or Property Protection Advance 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 promptly after such determination was made together
with such reports that the Master Servicer delivered to the Special Servicer or Trustee in connection with notification of its
determination of nonrecoverability;

 

(iii)         
the Master Servicer shall remit all payments received with respect to any 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 related Non-Lead Securitization
Noteholder by the earlier of (x) the Remittance Date (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 (1) Business Day after
the scheduled monthly payment date under the Mortgage Loan Agreement;

 

(iv)         
in connection with the expedited remittances contemplated by the preceding clause (iii) and the expedited reporting contemplated
by the following clause (v),

 

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(A)
the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect to the Mortgage Loan or the
Property (including the delivery of information contemplated by CREFC® reports that the Special Servicer is required to deliver
to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer to the Non-Lead Securitization
Noteholder may include all information contemplated to be included therein for the applicable reporting period, and (y) expedite
withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage Loan or the Property
so that the Master Servicer’s remittances to the Non-Lead Securitization Noteholder contemplated by the preceding clause
(iii) may include all amounts for the applicable collection period; and (B) each party responsible under the Lead Securitization
Servicing Agreement for delivering any Additional Form 10-D Disclosure (or analogous information) to a Non-Lead Trustee or Non-Lead
Depositor in respect of a Non-Lead Securitization Note shall deliver such Additional Form 10-D Disclosure (or analogous information)
no later than the 5th calendar day following the distribution date for the related Non-Lead Securitization;

 

(v)           
with respect to any 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 reports required to be delivered by the Master
Servicer to the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include
all loan-level reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead
Securitization Servicing Agreement, to the extent related to the Mortgage Loan, the Property, such Non-Lead Securitization Note,
the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, by the earlier of (x) the Remittance
Date and (y) the Business Day following the related Non-Lead Securitization Determination Date, in each case, as long as the date
on which delivery is required under this clause (v) is at least one (1) Business Day after the scheduled monthly payment date
under the Mortgage Loan Agreement;

 

(vi)         
the Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to each Non-Lead Securitization
Noteholder all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information
regarding the Mortgage Loan provided by it to the Lead Securitization Controlling Class Representative or the Operating Advisor
in connection with any request for consent made to, or consultation with, such party at the time provided to such other party;

 

(vii)         
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 Noteholders (including the respective trustees
and certificateholders) in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement
and the Accepted Servicing Practices;

 

(viii)       
each Non-Lead Securitization Noteholder shall be entitled to the same indemnity as the Lead Securitization Noteholder under the
Lead Securitization Servicing

 

     26

     

    

 

Agreement;
each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the Custodian
shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by it to) indemnify
each Certifying Person and the depositor of any public 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 (ix) below in a timely manner, (B) its failure to
perform its obligations to such depositor or the related Non-Lead Trustee under Article XI (or any article substantially similar
thereto) 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 a Loan
Seller Sub-Servicer) to perform its obligations to such depositor or trustee under such Article XI (or any article substantially
similar thereto) of the Lead Securitization Servicing Agreement by the time required and/or (D) any Deficient Exchange Act Deliverable
regarding, and delivered by or on behalf of, such party;

 

(ix)           
with respect to any Non-Lead Securitization that
is subject to reporting requirements under the Securities Act, the Exchange Act (including Rule 15Ga-1), and Regulation AB, (a)
the Master Servicer, any primary servicer, the Special Servicer, the Trustee, the Certificate Administrator or other party acting
as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other servicer and
servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver (provided that such party shall only be required to use commercially reasonable efforts to cause a Loan Seller
Sub-Servicer to deliver)), in a timely manner (i) the reports, certifications, compliance statements, accountants’ assessments
and attestations, and information to be included in reports (including, without limitation, Form ABS-15G, Form 10-K, Form 10-D
and Form 8-K), and (ii) upon request, any other materials specified in the related Non-Lead Securitization Servicing Agreement,
in the case of clauses (i) and (ii), as the related Non-Lead Depositor or the related Non-Lead Trustee reasonably believes, in
good faith, are required in order for the related Non-Lead Depositor or the related Non-Lead Trustee to comply with (1) its obligations
under the Securities Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and (2) any applicable comment
letter from the Commission or its obligations with respect to any Deficient Exchange Act Deliverable, (b) without limiting the
generality of the foregoing (x) the Depositor or the related Holder shall provide or cause to be provided to the related Non-Lead
Depositor (and to counsel to the related Non-Lead Depositor) and the related Non-Lead Trustee (1) written notice (which may be
by email) in a timely manner (but no later than three (3) Business Days prior to closing) of the occurrence of the Lead Securitization,
and (2) no later than the closing date of the Lead Securitization, a copy of the Lead Securitization Servicing Agreement in an
EDGAR-compatible format, and (y) the Master Servicer and Special Servicer (or any replacement Master Servicer or Special Servicer,
as applicable) shall, upon reasonable prior written request, and subject to the right of the Master Servicer or the Special Servicer,
as the case may be, to review and approve such disclosure materials, permit a holder of any Non-Lead Securitization Note to use
such party’s description contained in the Lead Securitization prospectus (updated as appropriate by the Master Servicer
or Special

 

     27

     

    

 

Servicer,
as applicable, at the cost of such holder of such Non-Lead Securitization Note) or contained in a Lead Securitization Form 8-K,
for inclusion in the disclosure materials or a Form 8-K relating to any securitization of the related Non-Lead Securitization
Note, and (z) the Master Servicer and the Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable),
shall provide indemnification agreements, opinions and Regulation AB compliance letters as were or are being delivered with respect
to the Lead Securitization (in each case, at the cost of such holder of such Non-Lead Securitization Note), and (c) in connection
with any amendment of the Lead Securitization Servicing Agreement, the Depositor shall provide written notice (which may be by
email) of such proposed amendment to any Non-Lead Depositor and the related Non-Lead Trustee no later than three (3) Business
Days prior to the date of effectiveness of such amendment, and, on the date of effectiveness of such amendment to the Lead Securitization
Servicing Agreement, provide a copy of such amendment in an EDGAR-compatible format to such Non-Lead Depositor and the related
Non-Lead Trustee. The Master Servicer and the Special Servicer shall each be required to provide certification and indemnification
to any Certifying Person with respect to any applicable Sarbanes-Oxley Certification with respect to a Non-Lead Securitization;

 

(x)           
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 (including, without limitation, providing all due diligence information, reports, written
responses, negotiations and coordination) to the same extent as such party is required to cooperate with the Lead Depositor under
Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement and in connection with
any Deficient Exchange Act Deliverable. All respective reasonable out-of-pocket costs and expenses incurred by any 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
Commission and other costs such Non-Lead Depositor must bear pursuant to Article XI (or any article substantially similar thereto)
of the Lead Securitization Servicing Agreement) and any amendments to any reports filed with the Commission therewith shall be
promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice from such Non-Lead Depositor;

 

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

 

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(xii)         
each Non-Lead Securitization Noteholder is an intended third-party beneficiary in respect of the rights afforded it under the
Lead Securitization Servicing Agreement and the related Non-Lead Master Servicer shall be entitled to enforce the rights of such
Non-Lead Securitization Noteholder under this Agreement and the Lead Securitization Servicing Agreement;

 

(xiii)       
each Non-Lead Master Servicer and each Non-Lead Special Servicer shall each 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;

 

(xiv)           
if the Mortgage Loan becomes a Defaulted Mortgage Loan and the Special Servicer determines to sell the Lead Securitization Note
in accordance with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell all 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 Noteholder of the planned sale and of such Non-Controlling Noteholder’s opportunity to submit an
offer on the Mortgage Loan;

 

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

 

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

 

(xvii)     
Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include: (A) solely with respect
to the Master Servicer, the failure to timely remit payments to any Non-Lead Securitization Noteholder, which failure continues
unremedied for one (1) Business Day following the date on which such payment was to be made; (B) solely with respect to the Special
Servicer, the failure to deposit into any Foreclosed Property Account any amount required to be so deposited within two (2) Business
Days after the date such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection
Account or the related Companion Distribution Account any amount required to be so remitted by the Special Servicer within one
(1) Business Day after the date such remittance was to be made; (C) the qualification, downgrade or withdrawal, or placing on
“watch status” in contemplation of a rating downgrade or withdrawal of the ratings of any class of certificates issued
in connection with any Non-Lead Securitization by the rating agencies rating such securities (and such qualification, downgrade,
withdrawal or “watch status” placement shall not have been withdrawn by such rating agencies within sixty (60) days
of actual knowledge of such event by the Master Servicer or the Special Servicer, as the case may be), and publicly citing

 

     29

     

    

 

servicing
concerns with the Master Servicer or Special Servicer, as applicable, as the sole or a material factor in such rating action;
and (D) the failure to provide to any Non-Lead Securitization Noteholder (if and to the extent required under the related Non-Lead
Securitization) reports required under the Exchange Act, and the rules and regulations thereunder, in a timely fashion. Upon the
occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Noteholder
and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall,
upon the direction of such Non-Lead Securitization Noteholder, require the appointment of a subservicer with respect to the related
Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting
a Non-Lead Securitization Noteholder 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 Noteholder, terminate the Special Servicer
with respect to, but only with respect to, the Mortgage Loan;

 

(xviii)     
upon any resignation, termination and/or replacement of the Master Servicer or the Special Servicer, any appointment of a successor
to the Master Servicer or Special Servicer, or the effectiveness of any designation of a new Special Servicer, the Trustee or
Certificate Administrator shall promptly (and in any event no later than three (3) Business Days prior to the effective date of
such resignation, termination, replacement and/or appointment of a Master Servicer or Special Servicer) provide written notice
thereof to each Non-Lead Trustee, each Non-Lead Master Servicer, each Non-Lead Depositor, and counsel to each Non-Lead Depositor,
together with any information reasonably required (including, without limitation, any disclosure required under Item 1108 of Regulation
AB) for the related Non-Lead Securitization to comply with any applicable reporting obligations under the Exchange Act; provided,
that such notice shall not be deemed to be provided unless receipt thereof has been confirmed in writing (which may be by email)
from any such Non-Lead Depositor;

 

(xix)        
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 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 (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;

 

(xx)         the
rates at which Special Servicing Fees, Liquidation Fees and Workout Fees accrue or are determined shall not exceed 0.15% per
annum, 0.35% and 0.35%, respectively, subject to any minimum compensation provided for in the Lead Securitization Servicing
Agreement; and

 

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

 

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(g)              
Each Non-Lead Securitization Noteholder agrees that it shall cause the related Non-Lead Securitization Servicing Agreement to
provide as follows (and to the extent such following provisions are not included in the related Non-Lead Securitization Servicing
Agreement, they shall be deemed incorporated therein and made a part thereof):

 

(i)           
Each Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Nonrecoverable Advances (and advance
interest thereon) and any Trust Fund Expenses, but only to the extent that they relate to servicing and administration of the
Notes and the 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
Property Protection Advances or Trust Fund Expenses, (A) the related Non-Lead Master Servicer will be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Lead Securitization Trust, as applicable, out of general funds in the collection account (or
equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization
Noteholder’s pro rata share of any such Nonrecoverable Advances (together with advance interest thereon) and/or other Trust
Fund Expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to the servicing
and administration of the Mortgage Loan and the Property), and (B) if the Lead Securitization Servicing Agreement permits the
Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse itself from the Lead Securitization
Trust’s general account, then the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, 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, reimburse the Lead Securitization Trust out of general funds in the collection
account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization
Noteholder’s pro rata share of any such Nonrecoverable Advances (together with advance interest thereon) and/or Trust Fund
Expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to the servicing and
administration of the Mortgage Loan and the Property);

 

(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
the Lead Securitization Servicing Agreement and, in the case of the Lead Securitization Trust, to the extent of any Trust Fund
Expenses with respect to the Mortgage Loan) by the related Non-Lead Securitization Trust, 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 Collection Account
that are allocated to the related Non-Lead Securitization Note 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 the related Non-Lead Securitization
Note’s pro rata share of the insufficiency out of general funds in the collection account (or equivalent account) established
under the related Non-Lead Securitization Servicing Agreement;

 

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(iii)           
each Non-Lead Master Servicer, Non-Lead Trustee or Non-Lead Certificate Administrator will be required to deliver to the Trustee,
the Certificate Administrator, the Special Servicer, the Master Servicer, any Operating Advisor and any Asset Representations
Reviewer (i) promptly following Securitization of the related Non-Lead Securitization Note, notice of the deposit of such Non-Lead
Securitization Note into a Securitization Trust (which notice may be (x) in the form of delivery (which may be by email) of a
copy of the related Non-Lead Securitization Servicing Agreement, or (y) by email notification together with contact information
for the related Non-Lead Trustee, the related Non-Lead Certificate Administrator, the related Non-Lead Master Servicer, the related
Non-Lead Special Servicer and the party designated to exercise the rights of the related “Non-Controlling Noteholder”
under this Agreement), accompanied by a copy of such executed Non-Lead Securitization Servicing Agreement, and (ii) notice of
any subsequent change in the identity of the related Non-Lead Master Servicer, the related Non-Lead Trustee or the party designated
to exercise the rights of the related “Non-Controlling Noteholder” under this Agreement (together with the relevant
contact information) (which may be in the form of email delivery of a copy of any revised Non-Lead Securitization Servicing Agreement);
and

 

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

 

(h)              
The Lead Securitization Noteholder shall:

 

(i)           
give each Non-Lead Securitization Noteholder notice of the Securitization of the Lead Securitization Note in writing (which may
be by email) not less than three (3) Business Days prior to the applicable pricing date for the Lead Securitization, together
with contact information for each of the parties to the Lead Securitization Servicing Agreement; and

 

(ii)           
send to each Non-Lead Securitization Noteholder and the parties to the related Non-Lead Securitization Servicing Agreement (that
are not also party to the Lead Securitization Servicing Agreement) (x) on or promptly following the Lead Securitization Date (to
the extent the applicable parties to the related Non-Lead Securitization Servicing Agreement have been engaged by the related
Non-Lead Depositor on or prior to the Lead Securitization Date), a copy (in EDGAR-compatible format) of the execution version
of the Lead Securitization Servicing Agreement, (y) within (1) one Business Day after the date of any re-filing by the Depositor
of the Lead Securitization Servicing Agreement with the Commission to account for any changes thereto (other than a formal amendment
thereto following the Lead Securitization Date), a copy (in EDGAR-compatible format) of the re-filed Lead Securitization Servicing
Agreement, and (z) promptly following distribution thereof to the parties to the Lead Securitization Servicing Agreement, any
changes made by the Depositor to the Lead Securitization Servicing Agreement (other than a formal amendment thereto following
the Lead Securitization Date).

 

(i)                
The Servicing Agreement shall provide that compensating interest payments as defined therein with respect to, first, any A Notes
will be allocated by the Master Servicer between the A Notes, pro rata, in accordance with their respective Principal Balances,

 

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and
second, any B Notes in accordance with their respective Principal Balances. The Master Servicer shall remit any compensating interest
payment in respect of any Non-Lead Securitization Note to the applicable Non-Lead Securitization Noteholder.

 

(j)                
In the event any filing is required to be made by any Non-Lead Depositor under the related Servicing Agreement in order to comply
with the Non-Lead Depositor’s requirements under the Securities Exchange Act of 1934, as amended, the related Lead Securitization
Noteholder (including the Depositor and Trustee) shall use commercially reasonable efforts to timely comply with any such filing.

 

(k)              
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 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 3.               
Subordination of the Subordinate Notes; Payments.

 

(a)               
The B Notes and the rights of the Note B Holders to receive payments of interest, principal and other amounts with respect to
any such B Note shall at all times be junior, subject and subordinate to the A Notes and the rights of the Note A Holders to receive
payments of interest, principal and other amounts with respect to the A Notes as and to the extent set forth herein.

 

(b)              
All amounts tendered by the Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage
Loan or the Property or amounts realized as proceeds thereof, whether received in the form of Monthly Payments, the Balloon Payment,
Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the Mortgage Loan
or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements that are required to be applied to the restoration
or repair of the Property or released to the Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent
permitted by the REMIC Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan
Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received
as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to the Master Servicer
or the Trustee under the Servicing Agreement, and (y) all amounts that are then due, payable or reimbursable to any Servicer,
Trustee, Certificate Administrator, Operating Advisor or Asset Representations Reviewer (excluding master servicing fees, trustee
fees, certificate administrator fees, operating advisor fees, asset representations reviewer fees, and principal and interest
Advances, all of which shall be payable to such party by the respective Noteholders in respect of which such fees accrued or such
Advances were made, in each case out of distributions

 

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made
in respect of each such Note, respectively (or, as and to the extent provided in the Servicing Agreement, out of Default Interest
and late payment charges collected on the Mortgage Loan), and excluding interest on principal and interest Advances which are
reimbursable pursuant to Section 3(c) below), with respect to the Mortgage Loan pursuant to the Servicing Agreement, shall
be distributed by the Master Servicer in the following order of priority without duplication (and payments shall be made at such
times as are set forth in the Servicing Agreement):

 

(i)           
first, to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note A Holder, an amount equal to the accrued and unpaid interest on the Principal Balance for the related A Note at the
applicable Net Interest Rate;

 

(ii)           
second, to the Note B Holders, on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note B Holder, an amount equal to the accrued and unpaid interest on the Principal Balance for the related B Note at the
applicable Net Interest Rate;

 

(iii)         
third, to the Note A Holders, on a Pro Rata and Pari Passu Basis based on the respective Principal Balances of the A Notes, (i)
at any time that no Triggering Event of Default has occurred and is continuing, in an aggregate amount equal to the principal
payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until the Principal Balance
for each A Note has been reduced to zero, and (ii) at any time that a Triggering Event of Default has occurred and is continuing,
all remaining funds, if any, until the Principal Balance for each A Note has been reduced to zero;

 

(iv)         
fourth, to the Note B Holders, on a Pro Rata and Pari Passu Basis based on the respective Principal Balances of the B Notes, (i)
at any time that no Triggering Event of Default has occurred and is continuing, in an aggregate amount equal to the remaining
principal payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until the Principal
Balance for each B Note has been reduced to zero, and (ii) at any time that a Triggering Event of Default has occurred and is
continuing, all remaining funds, if any, until the Principal Balance for each B Note has been reduced to zero;

 

(v)           
fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i)-(iv) and, as a result of a Workout the Principal Balances for the A
Notes have been reduced, such excess amount shall be paid to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their
respective entitlements, up to, in the case of each Note A Holder, an amount equal to the reduction, if any, of the Principal
Balance for the related A Note as a result of such Workout, plus interest on such amount at the related Net Interest Rate;

 

(vi)         
sixth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i)-(v) and, as a result of a Workout the Principal Balances for the B

 

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Notes
have been reduced, such excess amount shall be paid to the Note B Holders, on a Pro Rata and Pari Passu Basis based on their respective
entitlements, up to, in the case of each Note B Holder, an amount equal to the reduction, if any, of the Principal Balance for
the related B Note as a result of such Workout, plus interest on such amount at the related Net Interest Rate;

 

(vii)         
seventh, to the Note A Holders on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note A Holder, an amount equal to all Prepayment Fees allocated to the related A Note in accordance with the Mortgage Loan
Agreement;

 

(viii)       
eighth, to the Note B Holders on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note B Holder, an amount equal to all Prepayment Fees allocated to the related B Note in accordance with the Mortgage Loan
Agreement;

 

(ix)         
ninth, to the extent assumption or transfer fees actually paid by the Borrower are not required to be otherwise applied under
the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to pay any Additional
Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments relate to the Mortgage
Loan), any such assumption or transfer fees, to the extent actually paid by the Borrower, shall be paid to the Note A Holders,
pro rata, based on their respective Percentage Interests, and the Note B Holders, pro rata, based on their respective
Percentage Interests; and

 

(x)           
tenth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance
with the foregoing clauses (i)-(ix), any remaining amount shall be paid to the Note A Holders and the Note B Holders, pro rata
in accordance with their respective initial Percentage Interests in the Mortgage Loan.

 

(c)               
All payments of principal on the Notes shall be made in Sequential Order. All expenses and losses relating to the Mortgage Loan
and the Property (including without limitation losses of principal and interest, Property Protection Advances, Advance Interest
Amounts, Special Servicing Fees, Liquidation Fees and Workout Fees), Appraisal Reduction Amounts and certain other trust expenses,
shall be allocated to the Notes in Reverse Sequential Order. Notwithstanding anything to the contrary herein, if an Advance of
principal or interest is made with respect to any Note, then Advance Interest Amounts thereon shall only be reimbursed from Default
Interest and late payment charges collected on the Mortgage Loan, as and to the extent provided in the Servicing Agreement, from
amounts paid by the Borrower to cover such Advance Interest Amounts and otherwise (i) in the case of the A Notes, first,
out of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the Note B Holders, and
second, out of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the holder
of such Note as to which the Advance of principal or interest was made, and (ii) in the case of the B Notes, out of any amounts
received with respect to the Mortgage Loan that would otherwise be distributable to the holders of such Note as to which the Advance
of principal or interest was made.

 

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Section 4.               
Administration of the Mortgage Loan.

 

(a)              
Subject to this Agreement (including, without limitation, Section 4(f) below) and the Servicing Agreement and consistent
with the Accepted Servicing Practices, the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization
Noteholder) shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies
with respect to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the
Mortgage Loan Documents or consent to any action or failure to act by the 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 other
Noteholder shall have any voting, consent or other rights whatsoever with respect to the Lead Securitization Noteholder’s
administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan except as set forth in this Agreement
and the Servicing Agreement including the rights of any Noteholder in its capacity as the Controlling Noteholder to consent to
the Major Decisions set forth in this Agreement. Subject to this Agreement and the Servicing Agreement (including, without limitation,
Section 4(f) below) and consistent with the Accepted Servicing Practices, each Noteholder (other than the Lead Securitization
Noteholder) agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization
Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) the rights, if any, that such Noteholder has
to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise
any remedies with respect to the Mortgage Loan or the Borrower, including, without limitation, filing or causing the Lead Securitization
Noteholder to file any bankruptcy petition against the Borrower. The Lead Securitization Noteholder (or any Servicer acting on
behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to any Non-Lead Noteholder in connection with
the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder from the obligation
to make any disbursement of funds as set forth herein).

 

Upon
the Mortgage Loan becoming a Defaulted Mortgage Loan, each Non-Lead Noteholder hereby acknowledges the right and obligation of
the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder) to sell each
Non-Lead Note together with the Lead Securitization Note (and any other Notes included in the Lead Securitization) as notes evidencing
one whole loan in accordance with the terms of the Servicing Agreement. In connection with any such sale, the Special Servicer
shall be required to sell each Note together with the Lead Securitization Note in the manner set forth in the Servicing Agreement
and shall be required to require that all offers be submitted to the Trustee in writing and be accompanied by a refundable deposit
of cash in an amount equal to 5% of the offer amount (subject to a cap of $2,500,000). Whether any cash offer constitutes a fair
price for such Notes shall be determined by the Trustee; provided, that no offer from an Interested Person shall constitute
a fair price unless (i) it is the highest offer received and (ii) at least two bona fide other offers are received from
independent third parties. In determining whether any offer received represents a fair price for such Notes, the Trustee shall
be supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Servicing Agreement
within the preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select
the Appraiser conducting any such new Appraisal. In determining whether any such offer constitutes a fair price for such Notes,
the Trustee shall instruct the Appraiser to take into

 

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account
(in addition to the results of any Appraisal or updated Appraisal that it may have obtained pursuant to the Servicing Agreement),
as applicable, among other factors, the period and amount of any delinquency on the affected Notes, the occupancy level and physical
condition of the related Property and the state of the local economy. The Trustee may conclusively rely on the opinion of an Independent
Appraiser or other Independent expert in real estate matters retained by the Trustee at the expense of the Noteholders in connection
with making such determination. Notwithstanding the foregoing, the Lead Securitization Noteholder (or the Special Servicer acting
on behalf of the Lead Securitization Noteholder) shall not be permitted to sell the Non-Lead Securitization Notes if they become
a Defaulted Mortgage Loan without the written consent of each Non-Lead Securitization Noteholder (provided that such consent
is not required if such Non-Lead Securitization Noteholder is a Borrower Restricted Party) unless the Special Servicer has delivered
to such Non-Lead Securitization Noteholder: (a) at least fifteen (15) Business Days’ prior written notice of any decision
to attempt to sell the Non-Lead Securitization Notes; (b) at least ten (10) days prior to the proposed sale date, a copy of each
bid package (together with any material amendments to such bid packages) received by the Special Servicer in connection with any
such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage
Loan, and any documents in the servicing file maintained by the Master Servicer and/or Special Servicer with respect to the Mortgage
Loan reasonably requested by such Non-Lead Securitization Noteholder that are material to the price of the Non-Lead Securitization
Notes and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to the other offerors
and the Controlling Noteholder) 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 Special Servicer in connection with the proposed sale; provided,
that such Non-Lead Securitization Noteholder may waive any of the delivery or timing requirements set forth in this sentence.
Subject to the terms of the Servicing Agreement, each of the Controlling Noteholder, the Controlling Class Representative, any
other Noteholder (or any controlling class representative or directing holder on its behalf under the Non-Lead Securitization
Servicing Agreement) shall be permitted to bid at any sale of the Non-Lead Securitization Note unless such Person is a Borrower
Restricted Party.

 

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

 

The
authority and obligation of the Lead Securitization Noteholder to sell each Non-Lead Note, and the obligations of each Non-Lead
Noteholder to execute and deliver instruments or deliver its Non-Lead Note upon request of the Lead Securitization Noteholder,
shall terminate and cease to be of any further force or effect upon the date, if any, upon which no Note is held in a Securitization.
The preceding sentence shall not be construed to grant to any Non-Lead Noteholder the benefit of any representation or warranty
made by such seller or any

 

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document
delivery obligation imposed on such seller under any mortgage loan purchase and sale agreement, instrument of transfer or other
document or instrument that may be executed or delivered by such seller in connection with the Lead Securitization.

 

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees
to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf)
shall service the Mortgage Loan in accordance with the terms of this Agreement, including without limitation, the rights of the
Controlling Noteholder set forth in Section 4(f) below and consistent with the Accepted Servicing Practices. Servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan,
by the Special Servicer, in each case pursuant to the Servicing Agreement and consistent with the Accepted Servicing Practices.
Notwithstanding anything to the contrary contained herein, in accordance with the Servicing Agreement, the Lead Securitization
Noteholder shall cause the Master Servicer and the Special Servicer to service and administer the Mortgage Loan in accordance
with the Accepted Servicing Practices, taking into account the interests of the Noteholders as a collective whole, in each case
subject to the terms and conditions of this Agreement, and any Non-Lead Securitization Noteholder that is not a Borrower Restricted
Party shall be deemed a third party beneficiary of such provisions of the Servicing Agreement. The foregoing provisions of this
Section 4(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Controlling Noteholder
Representative to exercise their respective rights specifically set forth under this Agreement.

 

(c)               
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and this Agreement (including, without limitation, Sections 4(f) and (5), if the Lead Securitization Noteholder
in connection with a Workout of the Mortgage Loan modifies the terms thereof such that (i) the unpaid principal balance of
the Mortgage Loan is decreased, (ii) the Interest Rate or scheduled amortization payments on such Mortgage Loan are reduced,
(iii) payments of interest or principal on such Mortgage Loan are waived, reduced or deferred or (iv) any other adjustment
(other than an increase in the Interest Rate or increase in scheduled amortization payments) is made to any of the terms of the
Mortgage Loan, such waiver, modification or amendment shall be effected, to the maximum extent reasonably possible, in a manner
consistent with the payment priority set forth in Section 3(b), and to the extent it is not, payments to the Note A Holders
and the Note B Holder pursuant to Section 3 shall be made as though such Workout did not occur, with the payment terms
of each Note remaining the same as they are on the date hereof, and, in any event, the full economic effect of all waivers, reductions
or deferrals of amounts due on the Mortgage Loan attributable to such Workout shall be borne by the Noteholders in a manner consistent
with the payment priorities in Section 3. Subject to the Servicing Agreement and this Agreement (including without limitation
Sections 4(f) and 5), in the case of any modification or amendment described above, the Lead Securitization
Noteholder will have the sole authority and ability to revise the payment provisions set forth in Section 3 above
in a manner that reflects the subordination of the B Notes to the A Notes with respect to the loss that is the result of such
amendment or modification, including: (i) the ability to increase the Percentage Interest of an A Note, and to increase or
reduce, as applicable, the Percentage Interest of a B Note, in a manner that reflects a loss in principal as a result of such
amendment or modification and (ii) the ability to change the Interest Rate applicable to a Note in order to reflect a reduction
in the Interest Rate of the Mortgage Loan but shall not be

 

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permitted
to change the order of the clauses set forth in Section 3 hereof. Notwithstanding the foregoing, if any Workout, modification
or amendment of the Mortgage Loan extends the original maturity date of the Mortgage Loan, for purposes of this paragraph, the
Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage Loan but will be deemed due on the
extended maturity date of the Mortgage Loan.

 

(d)              
All rights and obligations of the Lead Securitization Noteholder described hereunder may be exercised by the Master Servicer on
behalf of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement. Each Non-Lead Securitization
Noteholder shall be provided access to any website that an investor would be permitted to access in accordance with the procedures
set forth in the Servicing Agreement, it being understood and agreed that each Non-Lead Securitization Noteholder is subject to
any restrictions on the access to such websites contained in the Servicing Agreement.

 

(e)               
If any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage
Loan shall be administered such that the Notes shall each 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 Noteholders 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 interests
of the Noteholders therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code; and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent
from any action of the Borrower, or exercise or refrain from exercising any powers or rights which the Noteholders may have under
the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the Mortgage Loan,
within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury, more than three
months after the earliest startup day of any REMIC which includes the Lead Securitization Note (or any portion thereof). The Noteholders
agree that the provisions of this Section 4(e) shall be effected by compliance by the Lead Securitization Noteholder
or its assignees with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the
Mortgage Loan or the Lead Securitization Noteholder’s interests therein. All costs and expenses of compliance with this
Section 4(e), 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 each Noteholder with respect to the REMIC containing the Note owned by such Noteholder.

 

Anything
herein or in the Servicing Agreement to the contrary notwithstanding, in the event that a Note is included in a REMIC and the
other Notes are not, the other Noteholders shall not be required to reimburse such Noteholder that deposited its Note in the REMIC
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

 

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disbursement
or payment otherwise distributable to either such other Noteholder be reduced to offset or make-up any such payment or deficit.

 

(f)               
(i)        Subject to clauses (ii) or (iii) below, with respect to any consent, modification,
amendment or waiver under or other action in respect of the Mortgage Loan (whether or not a Servicing Transfer Event has occurred
and is continuing) that would constitute a Major Decision, the Servicer shall provide the Controlling Noteholder (or its Controlling
Noteholder Representative) with at least ten (10) Business Days (or, in the case of a determination of an Acceptable Insurance
Default, twenty (20) days) prior notice requesting consent to the requested Major Decision. The Servicer shall not take any action
with respect to such Major Decision (or make a determination not to take action with respect to such Major Decision), unless and
until the Special Servicer receives the written consent of the Controlling Noteholder (or its Controlling Noteholder Representative)
before implementing a decision with respect to such Major Decision; provided that following the securitization of the Note that
entitles its holder to be the Controlling Noteholder, the provisions of the Lead Servicing Agreement shall govern the consent
and consultation rights under this Agreement.

 

(ii)                If
the Lead Securitization Noteholder (or the Master Servicer acting on its behalf) has not received a response from the Controlling
Noteholder (or its Controlling Noteholder Representative) with respect to such Major Decision within five (5) Business Days after
delivery of the notice of a Major Decision, the Lead Securitization Noteholder (or the Special Servicer acting on its behalf)
shall deliver an additional copy of the notice of a Major Decision in all caps bold 14-point font: “THIS IS A SECOND NOTICE.
FAILURE TO RESPOND WITHIN FIVE (5) BUSINESS DAYS OF THIS SECOND NOTICE WILL RESULT IN A LOSS OF YOUR RIGHT TO CONSENT WITH RESPECT
TO THIS DECISION.” and if the Controlling Noteholder (or its Controlling Noteholder Representative) fails to respond to
the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) with respect to any such proposed action within
five (5) Business Days after receipt of such second notice, the Controlling Noteholder (or its Controlling Noteholder Representative),
as applicable, shall have no further consent rights with respect to the specific action set forth in such notice. Notwithstanding
the foregoing, or if a failure to take any such action at such time would be inconsistent with the Accepted Servicing Practices,
the Master Servicer may take actions with respect to such Property before obtaining the consent of the Controlling Noteholder
(or its Controlling Noteholder Representative) if the Master Servicer reasonably determines in accordance with the Accepted Servicing
Practices that failure to take such actions prior to such consent would materially and adversely affect the interest of the Noteholders
as a collective whole, and the Master Servicer has made a reasonable effort to contact the Controlling Noteholder. The foregoing
shall not relieve the Lead Securitization Noteholder (or a Servicer acting on its behalf) of its duties to comply with the Accepted
Servicing Practices.

 

(iii)               Notwithstanding
the foregoing, the Lead Securitization Noteholder (or any Servicer acting on its behalf) shall not follow any advice or consultation
provided by the Controlling Noteholder (or its Controlling Noteholder Representative) that would require or cause the Lead Securitization
Noteholder (or any Servicer acting on its behalf) to violate any applicable law, including the REMIC Provisions, be inconsistent
with the Accepted Servicing Practices, require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf)
to violate provisions of this Agreement or the Servicing Agreement, require or cause the Lead Securitization

 

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Noteholder
(or any Servicer acting on its behalf) to violate the terms of the Mortgage Loan, or materially expand the scope of the Lead Securitization
Noteholder’s (or any Servicer acting on its behalf) responsibilities under this Agreement or the Servicing Agreement.

 

The
Special Servicer shall be required to (A) provide copies to each Senior Noteholder that is a Non-Controlling Noteholder of any
notice, information and report that is (or, without regard to the occurrence of any control termination event, consultation termination
event or similar event, would be) required to be provided to the Controlling Noteholder or its representative pursuant to the
Servicing Agreement with respect to any Major Decisions, or the implementation of any recommended actions outlined in an Asset
Status Report, within the same time frame that such notice, information and report is (or, if applicable, would be) required to
be provided to the Controlling Noteholder or its representative, and (B) consult with each Senior Noteholder that is a Non-Controlling
Noteholder or its representative on a strictly non-binding basis, if after having received such notices, information and reports,
any such Non-Controlling Noteholder requests consultation with respect to any such Major Decisions or the implementation of any
recommended actions outlined in an Asset Status Report, and consider alternative actions recommended by such Non-Controlling Noteholder
or its representative; provided that after the expiration of a period of ten (10) Business Days from the delivery to any
such Non-Controlling Noteholder 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 Non-Controlling Noteholder, whether
or not such Non-Controlling Noteholder has responded within such ten (10) Business Day period. Notwithstanding the consultation
rights of any Senior Noteholder that is a Non-Controlling Noteholder set forth in the immediately preceding sentence, the Special
Servicer may make any Major Decision or take any recommended action outlined in an asset status report before the expiration of
the aforementioned ten (10) Business Day period if the Special Servicer determines that immediate action with respect thereto
is necessary to protect the interests of the Noteholders. In no event shall the Special Servicer be obligated at any time to follow
or take any alternative actions recommended by a Non-Controlling Noteholder.

 

The
Noteholders acknowledge that the Lead Securitization Servicing Agreement may contain certain provisions that give the Controlling
Noteholder certain non-binding consultation rights with respect to Major Decisions related to compliance with the Risk Retention
Rules applicable to the Lead Securitization.

 

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

 

(h)              
Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time a Borrower Restricted
Party is a Noteholder (a “Borrower Party Noteholder”), then (i) such Borrower Party Noteholder shall not have
any rights as a Controlling Noteholder or a Controlling Class Representative, (ii) such Borrower Party Noteholder shall have no
right to appoint or terminate the Master Servicer or Special Servicer, (iii) such Borrower Party Noteholder shall have no right
to consult with or advise the Master Servicer or Special Servicer, and shall have no right to review and approve or comment on
any Asset Status Report and (iv) in each and every instance where, pursuant to this Agreement or the Servicing Agreement, the
Master Servicer or Special Servicer must take into account the interests of each

 

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Noteholder
(or words of similar import), such consideration shall be given to the Borrower Party Noteholder only in its capacity as a holder
of the applicable Note.

 

Section 5.               
Appointment of Controlling Noteholder Representative.

 

(a)               
The Controlling Noteholder shall have the right at any time to appoint a controlling noteholder representative to exercise its
rights hereunder (the “Controlling Noteholder Representative”). The Controlling Noteholder shall have the right
in its sole discretion at any time and from time to time to remove and replace the Controlling Noteholder Representative. When
exercising its various rights under Section 4 and elsewhere in this Agreement, the Controlling Noteholder may, at
its option, in each case, act through the Controlling Noteholder Representative. The Controlling Noteholder Representative may
be any Person (other than a Borrower Restricted Party), including, without limitation, the Controlling Noteholder, any officer
or employee of the Controlling Noteholder, any Affiliate of the Controlling Noteholder or any other unrelated third party. No
such Controlling Noteholder Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling
Noteholder). All actions that are permitted to be taken by the Controlling Noteholder under this Agreement may be taken by the
Controlling Noteholder Representative acting on behalf of the Controlling Noteholder and other Noteholders (and any Servicer)
will accept such actions of the Controlling Noteholder Representative as actions of the Controlling Noteholder. The Lead Securitization
Noteholder (or any Servicer on its behalf) shall not be required to recognize any Person as a Controlling Noteholder Representative
until the Controlling Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such appointment and, if
the Controlling Noteholder Representative is not the same Person as the Controlling Noteholder, the Controlling Noteholder Representative
provides the Lead Securitization Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment,
an address, any fax number and any email address 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, telephone
numbers, any fax numbers and any email addresses). The Controlling Noteholder shall promptly deliver such information to any Servicer.
None of the Servicers, the Certificate Administrator or the Trustee shall be required to recognize any Person as a Controlling
Noteholder Representative until they receive such information from the Controlling Noteholder. The Controlling Noteholder agrees
to inform each such Servicer or Trustee of the then-current Controlling Noteholder Representative.

 

(b)              
Neither the Controlling Noteholder Representative nor the Controlling Noteholder will have any liability to any other Noteholder
or any other Person for any action taken, or for refraining from the taking of any action pursuant to this Agreement or the Servicing
Agreement, or for errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance, bad
faith or gross negligence. The Noteholders agree that the Controlling Noteholder Representative and the Controlling Noteholder
may take or refrain from taking actions that favor the interests of one Noteholder over any other Noteholder, and that the Controlling
Noteholder Representative may have special relationships and interests that conflict with the interests of a Noteholder and, absent
willful misfeasance, bad faith or gross negligence on the part of the Controlling Noteholder Representative or such Controlling
Noteholder, as the case may be, agree to take no action against the Controlling Noteholder Representative, such Controlling Noteholder
or any of their respective officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that neither the Controlling Noteholder

 

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Representative
nor such Controlling Noteholder will be deemed to have been grossly negligent or reckless, or to have acted in bad faith or engaged
in willful misfeasance or to have recklessly disregarded any exercise of its rights by reason of its having acted or refrained
from acting solely in the interests of any Noteholder.

 

(c)               
The other Noteholders acknowledge and agree all of the aforementioned rights and obligations of the Controlling Noteholder and
the Controlling Noteholder Representative set forth in Sections 4(f) and this Section 5 shall be exercisable
by the applicable Person specified in the Servicing Agreement as and to the extent set forth in the Servicing Agreement.

 

Section 6.               
Special Servicer. The Controlling Noteholder (or its Controlling Noteholder Representative), at its expense (including,
without limitation, the reasonable costs and expenses of counsel to any third parties and costs and expenses of the terminated
Special Servicer), shall have the right, at any time from time to time, to appoint a replacement Special Servicer with respect
to the Mortgage Loan. The Controlling Noteholder (or its Controlling Noteholder Representative) shall be entitled to terminate
the rights and obligations of the Special Servicer under the Servicing Agreement, with or without cause, upon at least ten (10)
Business Days’ prior written notice to the Special Servicer (provided, however, that the Controlling Noteholder and/or Controlling
Noteholder Representative shall not be liable for any termination or similar fee in connection with the removal of the Special
Servicer in accordance with this Section 6); such termination shall not be effective unless and until (A) each Rating
Agency delivers a Rating Agency Confirmation (to the extent any portion of the Mortgage Loan has been securitized); (B) the initial
or successor Special Servicer has assumed in writing (from and after the date such successor Special Servicer becomes the Special
Servicer) all of the responsibilities, duties and liabilities of the Special Servicer under the Servicing Agreement from and after
the date it becomes the Special Servicer as they relate to the Mortgage Loan pursuant to an assumption agreement reasonably satisfactory
to the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory to the Trustee to the effect
that (x) the designation of such replacement to serve as Special Servicer is in compliance with the Servicing Agreement, (y) such
replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage Loan and (z) subject to customary
qualifications and exceptions, the applicable Servicing Agreement will be enforceable against such replacement in accordance with
its terms. The Lead Securitization Noteholder shall promptly provide copies to any terminated Special Servicer of the documents
referred to in the preceding sentence. The Lead Securitization Noteholder will reasonably cooperate with the Controlling Noteholder
in order to satisfy the foregoing conditions, including the Rating Agency Confirmation.

 

Section 7.               
Payment Procedure.

 

(a)               
The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3
and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes
to the Collection Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The
Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due
to each Noteholder. The Lead Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts

 

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to
the applicable account within two (2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s
acting on its behalf) receipt of properly identified and available funds from or on behalf of the Borrower.

 

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

 

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

 

(d)              
Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or
the Master Servicer on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the
terms of this Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall have the right to offset
any amounts due hereunder from any other Noteholder, as applicable, with respect to the Mortgage Loan against any future payments
due to such other Noteholder, as applicable, under the Mortgage Loan, provided, that each Noteholder’s obligations
under this Section 7 are separate and distinct obligations from one another and in no event shall the Lead Securitization
Noteholder (or the Master Servicer on its behalf) enforce the obligations of one Noteholder against another Noteholder. Each Noteholder’s
obligations under this Section 7 constitute absolute, unconditional and continuing obligations.

 

Section 8.               
Limitation on Liability of the Noteholders. No Noteholder (including any Servicer on a Noteholder’s behalf, but only
to the extent that the Servicing Agreement does not impose any other standard upon any Servicer, in which case the Servicing Agreement
shall control) shall have any liability to any other Noteholder except with respect to losses actually suffered due to the gross
negligence, willful misconduct or breach of this Agreement on the part of such Noteholder.

 

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Each
Subordinate Noteholder acknowledges that, subject to the terms and conditions hereof and the obligation of the Lead Securitization
Noteholder (including any Servicer) to comply with, and except as otherwise required by, the Accepted Servicing Practices, the
Lead Securitization Noteholder (including any Servicer) may exercise, or omit to exercise, any rights that the Lead Securitization
Noteholder may have under this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of such
Subordinate Noteholder and that the Lead Securitization Noteholder (including any Servicer) shall have no liability whatsoever
to such Subordinate Noteholder in connection with the Lead Securitization Noteholder’s exercise of rights or any omission
by the Lead Securitization Noteholder to exercise such rights other than as described above; provided, however,
that such Servicer must act in accordance with the Accepted Servicing Practices.

 

Each
Subordinate Noteholder acknowledges that, subject to the terms and conditions hereof and the obligation of any Non-Lead Securitization
Noteholder (including any Non-Lead Servicer) to comply with, and except as otherwise required by, the Accepted Servicing Practices
(as if such standard was applicable to any Non-Lead Securitization Noteholder as a “servicer” thereunder), each Non-Lead
Securitization Noteholder (including any Non-Lead Servicer) may exercise, or omit to exercise, any rights that such Non-Lead Securitization
Noteholder may have under this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of such
Subordinate Noteholder and that any Non-Lead Securitization Noteholder (including any Non-Lead Servicer) shall have no liability
whatsoever to such Subordinate Noteholder in connection with any Non-Lead Securitization Noteholder’s exercise of rights
or any omission by a Non-Lead Securitization Noteholder to exercise such rights other than as described above; provided,
however, that the Non-Lead Servicer must act in accordance with the servicing standard under the Non-Lead Securitization
Servicing Agreement.

 

Each
Noteholder acknowledges that, subject to the terms and conditions hereof, any other Noteholder may exercise, or omit to exercise,
any rights that such Noteholder may have under this Agreement and the Servicing Agreement in a manner that may be adverse to the
interests of each other Noteholder and that such Noteholder shall have no liability whatsoever to any other Noteholder in connection
with such Noteholder’s exercise of rights or any omission by such Noteholder to exercise such rights; provided, however,
that such Noteholder shall not be protected against any liability to any other Noteholder that would otherwise be imposed by reason
of willful misfeasance, bad faith or negligence.

 

Section 9.               
Bankruptcy. Subject to the provisions of Section 4(f) hereof and the Accepted Servicing Practices, each Noteholder
hereby covenants and agrees that only the Lead Securitization Noteholder (or the Master Servicer on its behalf) has the right
to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any
such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against the
Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with
respect to the Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs
of the Borrower. Subject to the provisions of Section 4(f) hereof and the Accepted Servicing Practices, each Noteholder further
agrees that only the Lead Securitization Noteholder, as a creditor, can make any election, give any consent, commence any action
or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Borrower

 

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under
the Bankruptcy Code or in any other Insolvency Proceeding. Subject to the provisions of Section 4(f), the Noteholders hereby
appoint the Lead Securitization Noteholder as their agent, and grant to the Lead Securitization Noteholder 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 the Noteholders (including the Controlling Noteholder) in connection with any case by or against the 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 Noteholders, hereby agree that, upon the request of the Lead Securitization Noteholder but subject to the provisions of Section 4(f),
each other Noteholder shall execute, acknowledge and deliver to the Lead Securitization Noteholder all and every such further
deeds, conveyances and instruments as the Lead Securitization Noteholder 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 Accepted Servicing Practices.

 

Section 10.           
Representations of the Subordinate Noteholders. Each Subordinate Noteholder represents, solely as to itself and its Subordinate
Note, and it is specifically understood and agreed, that it is acquiring such Note for its own account in the ordinary course
of its business and none of the other Noteholders shall have any liability or responsibility to such Subordinate Noteholder except
(i) as expressly provided herein or (ii) for actions that are taken or omitted to be taken by such other Noteholder that constitute
gross negligence or willful misconduct or that constitute a breach of this Agreement. Each Subordinate Noteholder represents and
warrants solely as to itself that the execution, delivery and performance of this Agreement is within its corporate powers, has
been duly authorized by all necessary corporate action, and does not contravene its charter or any law or contractual restriction
binding upon such Subordinate Noteholder, and that this Agreement is the legal, valid and binding obligation of such Subordinate
Noteholder enforceable against such Subordinate Noteholder in accordance with its terms, except as such enforcement may be limited
by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights
generally, and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law), and except that the enforcement of rights with respect to indemnification and contribution obligations may be limited
by applicable law. Each Subordinate Noteholder represents and warrants solely as to itself that it is duly organized, validly
existing, in good standing and possesses of all licenses and authorizations necessary to perform its obligations hereunder. Each
Subordinate Noteholder represents and warrants as to itself that (a) this Agreement has been duly executed and delivered by such
Subordinate Noteholder, (b) to such Subordinate Noteholder’s actual knowledge, all consents, approvals, authorizations,
orders or filings of or with any court or governmental agency or body, if any, required for the execution, delivery and performance
of this Agreement by such Subordinate Noteholder have been obtained or made and (c) to such Subordinate Noteholder’s actual
knowledge, there is no pending action, suit or proceeding, arbitration or governmental investigation against such Subordinate
Noteholder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

Each
Subordinate Noteholder acknowledges that no other Noteholder owes such Subordinate Noteholder any fiduciary duty with respect
to any action taken under the Mortgage

 

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Loan
Documents and, except as provided herein, need not consult with such Subordinate Noteholder with respect to any action taken by
such other Noteholder, as applicable, in connection with the Mortgage Loan.

 

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

 

Section 11.           
Representations of each Initial Noteholder. Each Initial Noteholder represents and warrants that the execution, delivery
and performance of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action,
and does not contravene such Noteholder’s charter or any law or contractual restriction binding upon such Noteholder and
that this Agreement is the legal, valid and binding obligation of such Noteholder as applicable enforceable against it in accordance
with its terms. Each Initial Noteholder represents and warrants that it is duly organized, validly existing, in good standing
and possession of all licenses and authorizations necessary to carry on its respective business. Each Initial Noteholder represents
and warrants that (a) this Agreement has been duly executed and delivered by such Noteholder, (b) to such Noteholder’s actual
knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if
any, required for the execution, delivery and performance of this Agreement by such Noteholder have been obtained or made and
(c) to such Noteholder’s actual knowledge, there is no pending action, suit or proceeding, arbitration or governmental investigation
against such Noteholder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

Each
Initial Noteholder acknowledges that no other Noteholder owes such Noteholder any fiduciary duty with respect to any action taken
under the Mortgage Loan Documents and, except as provided herein or in the Servicing Agreement, need not consult with such Noteholder
with respect to any action taken by such Noteholder in connection with the Mortgage Loan.

 

Section 12.           
Independent Analysis of the Subordinate Noteholders. Each Subordinate Noteholder acknowledges that it has, independently
and without reliance upon any Initial Noteholder, except with respect to the representations and warranties provided by an Initial
Noteholder herein and in any documents or instruments executed and delivered by the such Initial Noteholder in connection herewith
(including the representations and warranties provided in the agreement pursuant to which it acquired its Subordinate Note), and
based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to purchase such
Subordinate Note and such Subordinate Noteholder accepts responsibility therefor. Each Subordinate Noteholder hereby acknowledges
that, other than the representations and warranties provided herein and in such other documents or instruments, no Initial Noteholder
has made any representations or warranties with respect to the Mortgage Loan, subject to such representations and warranties as
provided by such Initial Noteholder herein and in such other documents and instruments, and that no Initial Noteholder shall have
any 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 to

 

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an
Initial Noteholder in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of
the lien created or to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. Each Subordinate
Noteholder assumes all risk of loss in connection with its Note except as specifically set forth herein.

 

Section 13.           
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 or among any of the Noteholders as a partnership,
association, joint venture or other entity. None of the Noteholders shall have any obligation whatsoever to offer to any other
Noteholder the opportunity to purchase a Note interest in any future loans originated by such Noteholder or its Affiliates, and
if such Noteholder chooses to offer to any other Noteholder the opportunity to purchase a Note interest in any future mortgage
loans originated by the such Noteholder or their respective Affiliates, such offer shall be at such purchase price and interest
rate as the offering Noteholder chooses, in its sole and absolute discretion. No Noteholder shall have any obligation whatsoever
to purchase from any other Noteholder an interest in any future loans originated by such Noteholder or their respective Affiliates.

 

Section 14.           
Not a Security. No Note shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities
Exchange Act of 1934.

 

Section 15.           
Other Business Activities of the Noteholders. Each Noteholder acknowledges that each other Noteholder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Borrower or (b) any
direct or indirect parent of the Borrower or (c) any Affiliate of the Borrower or (d) any Affiliate of any direct or indirect
parent of the Borrower, (ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Borrower
or any Affiliate of the holder of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Borrower
or any Affiliate of a holder of such preferred equity (each, a “Borrower Related Party”), and receive payments
on such other loans or extensions of credit to 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 16.           
Sale of the Notes.

 

(a)               
Each Subordinate Noteholder agrees that it will not Transfer all or any portion of its Note except in accordance with this Section 16.
Each Subordinate Noteholder shall have the right, without the need to obtain the consent of any other Noteholder or any other
Person, to Transfer 49% or less (in the aggregate) of its interest in its Note to any Person, provided that any such Transfer
shall be made in accordance with the terms of this Section 16. Each Subordinate Noteholder shall have the right to
Transfer its entire Note or any portion thereof exceeding 49%, (i) to a Qualified Institutional Lender, provided, that (except
in the case of a Transfer to the Lead Securitization) promptly after the Transfer each Senior Noteholder is provided with (x)
a representation from a transferee or such Subordinate Noteholder certifying that such transferee is a Qualified Institutional
Lender, and (y) a copy of the assignment and assumption agreement referred to in Section 17 and provided, further,
that such transfer would not cause such Note to be held by more than five persons nor cause there to be no one person owning a
majority of such Note and (ii) to an entity that is not a Qualified Institutional Lender, provided that with respect to this

 

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clause
(ii), such Subordinate Noteholder obtains (1) prior to the Lead Securitization Date, the consent of the Lead Securitization Noteholder
and each other Senior Noteholder, each such consent not to be unreasonably withheld, conditioned or delayed, and (2) after the
Lead Securitization Date, Rating Agency Confirmation (and for avoidance of doubt, no consent of the Lead Securitization Noteholder
or other Senior Noteholder shall be required after the closing of the Lead Securitization); provided that in each of case
(1) and (2), (x) promptly after the Transfer each Senior Noteholder is provided with a copy of the assignment and assumption agreement
referred to in Section 17 and (y) such transfer would not cause the subject Note to be held by more than five persons;
and provided further, however, that if such transfer would cause there to be no one person owning a majority of the subject
Note, then such transfer will not be permitted unless persons owning a majority of the subject Note designate one of such persons
to act on behalf of such persons owning such majority. If the subject Note is held by more than one Noteholder at any time, the
holders of a majority of interest in the subject Note shall immediately appoint a representative to exercise all rights of such
Subordinate Noteholder hereunder. Notwithstanding the foregoing, without the Lead Securitization Noteholder’s prior consent,
which may be withheld in the Lead Securitization Noteholder’s sole and absolute discretion, no Subordinate Noteholder shall
Transfer all or any portion of its Note to a Borrower Restricted Party and any such Transfer shall be absolutely null and void
and shall vest no rights in the purported transferee. Each Subordinate Noteholder agrees that it shall pay the expenses of the
Lead Securitization Noteholder (including all expenses of the Master Servicer and the Special Servicer) and the other Non-Lead
Securitization Noteholders (including all expenses of the related Non-Lead Master Servicers and the related Non-Lead Special Servicers)
in connection with any such Transfer.

 

(b)              
All Transfers under Section 16(a) shall be made upon written notice to the Senior Noteholders not later than the date
of such Transfer, and (except in connection with a Transfer to the Lead Securitization) each transferee shall (i) 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 applicable Subordinate Noteholder hereunder with respect to its Note from and after the date of such assignment (or, in
the case, of a pledge, collateral assignment or other encumbrance made in accordance with Section 16(e) by such Subordinate
Noteholder of its Note solely as security for a loan to such Subordinate Noteholder made by a third-party lender whereby such
Subordinate Noteholder remains fully liable under this Agreement, on or before the date on which such third-party lender succeeds
to the rights of such Subordinate Noteholder by foreclosure or otherwise, such third-party lender executes an agreement that such
lender shall be bound by the terms and provisions of this Agreement and the obligations of such Subordinate Noteholder hereunder)
and (ii) agree in writing to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in effect with
respect to the Mortgage Loan, in which event the parties will enter into or agree to be bound by any replacement servicing agreement
therefor in accordance with the provisions hereof. Upon the consummation of a Transfer of all or any portion of a Subordinate
Note in accordance with this Agreement, the transferring Person shall be released from all liability arising under this Agreement
with respect to such Subordinate 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 the subject Subordinate Note as described in clause (c)
below). In connection with any such permitted transfer of a portion of a Subordinate Note and for all purposes of this Agreement,
each Senior Noteholder need only recognize the majority holder of such Subordinate Note for purposes of notices, consents and
other

 

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communications
between the Noteholders, and such majority holder of the subject Subordinate Note shall be the only Person authorized hereunder
to exercise any rights of such Subordinate Noteholder under this Agreement; provided, however, the majority holder
of the subject Subordinate Note may from time to time designate any other Person as an additional party entitled to receive notices,
consents and other communications and/or to exercise rights on behalf of such Subordinate Noteholder hereunder by delivering written
notice thereof to each Senior Noteholder, and, from and after delivery of such notice, such designee shall be so authorized hereunder
and shall be the only party entitled to receive such notices, consents and such other communications and/or to exercise such rights.

 

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

 

(d)              
Each of the Senior Noteholders shall have the right to Transfer all or any portion of its Senior Note without the prior consent
of any other Noteholder (i) with respect to each Senior Note prior to an Event of Default, to any party other than a Borrower
Restricted Party and (ii) after an Event of Default, to any party, including a Borrower Restricted Party; provided, however,
that (1) the Senior Noteholder must notify each Rating Agency and each other Noteholder before transfer to a Borrower Restricted
Party, and (2) following such Transfer of any Senior Note, the Mortgage Loan continues to be serviced in its entirety pursuant
to the Servicing Agreement by a Servicer unaffiliated with the Borrower. For the avoidance of doubt, no Noteholder or the Master
Servicer shall have any right to Transfer or cause the Transfer of any other Note.

 

(e)               
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other
than the Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder and that is
either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A”
(or the equivalent) or better by each Rating Agency (a “Note Pledgee”), on terms and conditions set forth in
this Section 16(e), it being further agreed that a financing provided by a Note Pledgee to a Noteholder or any person
which Controls such Noteholder that is secured by such Noteholder’s interest in the applicable 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) prior to the first Securitization of any Note,
the consent of each other Noteholder and (b) after the closing of the first Securitization of any Note, Rating Agency Confirmation.
Upon written notice by the applicable Noteholder to each other

 

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Noteholder
and any Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Noteholder
agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default
by the pledging Noteholder in respect of its obligations under this Agreement of which default such Noteholder has actual knowledge;
(ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default by the pledging Noteholder in respect
of its obligations to each other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such default;
(iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against such Note Pledgee
without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that
such other Noteholder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously with
the giving of same to the pledging Noteholder and accept any cure thereof by such Note Pledgee which such pledging Noteholder
has the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Noteholder; (v) that
such other Noteholder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided
that any such certificate(s) shall be in a form reasonably satisfactory to such other Noteholder; and (vi) that, upon
written notice (a “Redirection Notice”) to each other Noteholder and any Servicer by such Note Pledgee that
the pledging Noteholder is in default, beyond any applicable cure periods, under the pledging Noteholder’s obligations to
such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder and such Note Pledgee (which notice
need not be joined in or confirmed by the pledging Noteholder), and until such Redirection Notice is withdrawn or rescinded by
such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Noteholder or Servicer would otherwise be obligated
to pay to the pledging Noteholder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Noteholder
hereby unconditionally and absolutely releases each other Noteholder and any Servicer from any liability to the pledging Noteholder
on account of any Noteholder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or any
such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and
remedies against the pledging Noteholder 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 Noteholders and any Servicer shall recognize such Note
Pledgee (and any transferee other than the Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at
any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns,
as the successor to the pledging Noteholder’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 Noteholder hereunder accruing from and
after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions
of this Agreement. The rights of a Note Pledgee under this Section 16(e) shall remain effective as to any Noteholder
(and any Servicer) unless and until such Note Pledgee shall have notified any such Noteholder (and any Servicer, as applicable)
in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 17.           
Registration of Transfer. In connection with any Transfer of a Note (but excluding (x) any participant and (y) any Note
Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby
such transferee assumes all of the obligations of the applicable Noteholder hereunder with respect to such Note thereafter accruing
and agrees to be bound by the terms of this Agreement, including the restriction on Transfers set forth in Section 15, from
and after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment
and assumption agreement in connection with any Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement.
In connection with a Transfer of a Note, the Agent shall not recognize any attempted or purported transfer of any Note in violation
of the provisions of Section 15 and this Section 17. Any such purported transfer shall be absolutely null and void and
shall vest no rights in the purported transferee. Each Noteholder desiring to effect such transfer shall, and does hereby agree
to, indemnify the Agent and any other Noteholder against any liability that may result if the transfer is not made in accordance
with the provisions of this Agreement. Upon a Securitization of the Lead Securitization Note, the Certificate Administrator shall
automatically become and be the Agent.

 

Section 18.           
Registration of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts
such appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note
of which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in Section 17,
and the principal amounts (and stated interest) of

 

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the
Note owing to each such Noteholder, shall be registered in the Note Register. The Person in whose name a Note is so registered
shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement, except in the case of the
Initial Noteholders who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent shall provide such party
with the names and addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, the Noteholders
hereby designate such person as its agent under this Section 18 solely for purposes of maintaining the Note Register. The
parties intend for the Notes to be in registered form for federal income tax purposes under Section 5f.103-1(c) of the United
States Treasury Regulations.

 

Section 19.           
Statement of Intent. The Agent and each Noteholder intend that the Notes be classified, and the arrangement hereby be maintained,
in a manner consistent with rules applicable to a grantor trust under 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.           
No Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders.
Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Securitization Noteholder shall have any
interest in any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds
of any sale, lease or other disposition thereof shall be received, then each Non-Lead Securitization Noteholder shall be entitled
to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

Section 21.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS
AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES
OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT
TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. THE PARTIES HERETO INTEND
THAT THE PROVISIONS OF SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

Section 22.           
Submission to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

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

 

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

 

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

 

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

 

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

 

Section 23.           
Modifications; Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing
signed by each Noteholder. Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders shall
not amend or modify this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation from
the Rating Agencies shall be required in connection with a modification or amendment (i) to cure any ambiguity, to correct or
supplement any provisions herein that may be defective or inconsistent with any other provisions herein or with the Servicing
Agreement, (ii) entered into pursuant to Section 35 of this Agreement or (iii) to correct or supplement any provision herein
that may be defective or inconsistent with any other provisions of this Agreement.

 

Section 24.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and permitted assigns. Except as provided herein, none of the provisions of this
Agreement shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 15, each Noteholder
may assign or delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled
to all rights and benefits of the applicable Noteholder hereunder, including, without limitation, the right to make further assignments
and grant additional Notes.

 

Section 25.           
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 (and, to the
extent permitted under applicable law, each officer’s certificate, receipt or similar closing document delivered in connection
with the closing of this transaction) in Portable Document Format (PDF), Tagged Image File Format (TIF or TIFF), .JPG or .JPEG
file format, or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart of this
Agreement.

 

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

 

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

 

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

 

Section 29.           
Withholding Taxes.

 

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

 

(b)              
The Non-Lead Securitization Noteholders shall and hereby agrees to indemnify the Lead Securitization Noteholder against and hold
the Lead Securitization Noteholder harmless from and against any Taxes, interest, penalties and reasonable attorneys’ fees,
expenses and disbursements arising or resulting from any failure of the Lead Securitization Noteholder (or the Master Servicer
on its behalf) to withhold Taxes from payment made to any Non-Lead Securitization Noteholder in reliance upon any representation,
certificate, statement, document or instrument made or provided by such Non-Lead Securitization Noteholder to the Lead Securitization
Noteholder in connection with the obligation of the Lead Securitization Noteholder to withhold Taxes from payments made to such
Non-Lead Securitization Noteholder, it being expressly understood and agreed that (i) the Lead Securitization Noteholder shall
be absolutely and unconditionally entitled to accept any such representation, certificate, statement, document or instrument as
being true and correct in all respects and to fully rely thereon without any obligation or responsibility to investigate or to
make any inquiries with respect to the accuracy, veracity, correctness or validity of the same and (ii) such Non-Lead Securitization
Noteholder shall, upon request of the Lead Securitization Noteholder, at its sole cost and expense, defend any claim or action
relating to the foregoing indemnification using counsel selected by the Lead Securitization.

 

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(c)               
Each Non-Lead Securitization Noteholder represents to the Lead Securitization Noteholder (for the benefit of the Borrower) that
it is not a Non-Exempt Person and that neither the Lead Securitization Noteholder nor the 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. From time
to time as necessary during the term of this Agreement, any Non-Lead Securitization Noteholder (if not included at such time in
the Lead Securitization Trust) shall deliver to the Lead Securitization Noteholder or Servicer, as applicable, evidence satisfactory
to the Lead Securitization Noteholder substantiating that such Non-Lead Securitization Noteholder is not a Non-Exempt Person and
that the Lead Securitization Noteholder 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 any Non-Lead Securitization
Noteholder 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 Noteholder an Internal Revenue Service
Form W-9 and (ii) if any Non-Lead Securitization Noteholder is not created or organized under the laws of the United States, any
state thereof or the District of Columbia, and if the payment of interest or other amounts by the Borrower is treated for United
States income tax purposes as derived in whole or part from sources within the United States, such Non-Lead Securitization Noteholder
shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Noteholder Internal Revenue
Service Form W-8ECI, Form W-8IMY (with appropriate attachments), Form W-8BEN-E or Form W-8BEN, or successor forms, as may be required
from time to time, duly executed by such Non-Lead Securitization Noteholder, as evidence of such Non-Lead Securitization Noteholder’s
exemption from the withholding of United States tax with respect thereto. The Lead Securitization Noteholder shall not be obligated
to make any payment hereunder to any Non-Lead Securitization Noteholder in respect of its respective Non-Lead Securitization Note
or otherwise until such Non-Lead Securitization Noteholder shall have furnished to the Lead Securitization Noteholder the requested
forms, certificates, statements or documents.

 

Section 30.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will be
held by the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder) who shall act
as secured party under the Mortgage Loan Documents on behalf of the registered holders of the Notes. Notwithstanding anything
to the contrary in this Agreement, upon the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than
the Notes) shall be held by the Custodian. Each Note shall be held by the respective Noteholder or a custodian appointed by such
Noteholder.

 

Section 31.           
Notices. All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile
transmission (during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges
prepaid), (iv) sent by electronic mail containing language requesting the recipient to confirm receipt thereof if a party has
provided an electronic mail address and only if such electronic mail is promptly followed by a written notice or (v) 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.

 

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

 

Section 32.           
Broker. Each Noteholder represents to each other Noteholder that no broker was responsible for bringing about this transaction.

 

Section 33.           
Certain Matters Affecting the Agent.

 

(a)               
The Noteholders hereby appoint the Agent to act on their behalf, and the Agent shall act on behalf of the Noteholders;

 

(b)              
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 17;

 

(c)               
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;

 

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

 

(e)               
The Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning
of the Securities 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;

 

(f)               
The Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or
assignment and assumption agreement delivered to the Agent pursuant to Section 17; and

 

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

 

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

 

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The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed
to be bound by this Agreement and perform the duties of the Agent hereunder. BMO, as Initial Agent, may transfer its rights and
obligations to a Servicer, as successor Agent, at any time without the consent of any Noteholder. BMO, as Initial Agent, shall
promptly and diligently attempt to cause such Servicer to act as successor Agent, and, if such Servicer declines to act in such
capacity, shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. Notwithstanding the foregoing,
the Noteholders hereby agree that, simultaneously with the closing of the Lead Securitization, the Certificate Administrator shall
be deemed to have been automatically appointed as the successor Agent under this Agreement in place of the Initial Agent or any
successor thereto prior to such Securitization without any further notice or other action. The termination or resignation of the
Certificate Administrator, as Certificate Administrator under the Servicing Agreement, shall be deemed a termination or resignation
of such Certificate Administrator as Agent under this Agreement.

 

Section 35.           
Resizing. In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below in this paragraph,
that if a Senior Noteholder determines that it is advantageous to resize one or more of its Senior Notes by causing the Borrower
to execute amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating
the principal of such Senior Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the
resizing Noteholder to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal
balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such Senior Note
or Senior Notes immediately prior to the creation of the New Notes, (ii) the weighted average Interest Rate of all outstanding
New Notes (based on the relative principal balance of such New Notes) following the creation thereof is the same as the Interest
Rate of the related Senior Note or Senior Notes immediately prior to the creation of the New Notes, and (iii) no such resizing
shall (x) change the interest allocable to, or the amount of any payments due to, any other Noteholder, or priority of such
payments, or (y) increase any other Noteholder’s obligations or decrease any other Noteholder’s rights, remedies
or protections. In connection with any resizing of a Senior Note, the related Senior Noteholder may allocate its rights hereunder
among the New Notes in any manner in its sole discretion.

 

Section 36.           
Conflict. To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on the other,
this Agreement shall control.

 

Section 37.           
Electronic Signatures. Each of the parties hereto agrees that the transaction consisting of this Agreement (and, to the
extent permitted under applicable law, each officer’s certificate, receipt or similar closing document delivered in connection
with the closing of this transaction) may be conducted by electronic means. Each party agrees, and acknowledges that it is such
party’s intent, that if such party signs this Agreement (or, if applicable, such closing document) using an electronic signature,
it is signing, adopting, and accepting this Agreement or such closing document and that signing this Agreement or such closing
document using an electronic signature is the legal equivalent of having placed its handwritten signature on this Agreement or
such closing document on paper. The use of electronic signatures and electronic records (including, without limitation, any contract
or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect,
validity

 

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and
enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted
by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic
Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic
Transactions Act or the Uniform Commercial Code.

 

[SIGNATURE
PAGE FOLLOWS]

 

     59

     

    

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

 

	 	BANK OF MONTREAL, as Initial
    BMO Note A Holder and Initial Agent
	 	 	 
	 	By:	 /s/ Michael Birajiclian
	 	 	Name: Michael Birajiclian
	 	 	Title:   Authorized Signatory

 

2022-26BW - Co-Lender
Agreement - Signature Page

 

     

     

    

 

	 	STARWOOD
MORTGAGE CAPITAL LLC, as Initial SMC Note A Holder
	 	 	 
	 	By:	 /s/
    Grace Chiang
	 	 	Name:   Grace Chiang
	 	 	Title:  Senior
    Vice President

 

2022-26BW - Co-Lender
Agreement - Signature Page

 

     

     

    

 

	 	BANK OF MONTREAL, as Initial
    Note B-1 Holder
	 	 	 
	 	By:	 /s/ Michael Birajiclian
	 	 	Name:  Michael Birajiclian
	 	 	Title:    Authorized Signatory

 

2022-26BW - Co-Lender
Agreement - Signature Page

 

     

     

    

 

	 	STARWOOD
MORTGAGE CAPITAL LLC, as Initial Note B-2 Holder
	 	 	 
	 	By:	 /s/ Grace Chiang
	 	 	Name:  Grace Chiang
	 	 	Title:    Senior
    Vice President

 

2022-26BW - Co-Lender
Agreement - Signature Page

 

     

     

    

EXHIBIT
A

MORTGAGE LOAN SCHEDULE

 

A.       Description
of Mortgage Loan:

 

	Mortgage
    Loan Agreement:	Loan
    Agreement, dated as of February 4, 2022, among Bank of Montreal, Starwood Mortgage Capital LLC and the Borrower, as the same
    may be further amended, restated, supplemented or otherwise modified from time to time
	Borrower	Broadway
    26 Waterview LLC
	Origination
    Date of the Mortgage Loan and Notes:	February
    4, 2022 (Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note B-1 and Note B-2)
	Initial
    Principal Amount of  Mortgage Loan:	$290,000,000
	Location
    of the Property:	New
    York, New York
	Maturity
    Date:	February
    6, 2032

 

B.       Description
of Note Interests: Each Note shall have the initial Principal Balance, Percentage Interest and initial rate of interest set
forth in the table below.

 

	Note
                                         Designation 
	Initial

                                         Interest Rate 
	

                                         Percentage Interest 
	Principal
                                         Balance as of February 4, 2022 

	Note
    A-1	4.91%	7.79%	$22,600,000
	Note
    A-2	4.91%	7.79%	$22,600,000
	Note
    A-3	4.91%	6.89%	$20,000,000
	Note
    A-4	4.91%	6.89%	$20,000,000
	Note
    A-5	4.91%	4.79%	$13,900,000
	Note
    A-6	4.91%	4.79%	$13,900,000
	Note
    B-1	4.91%	30.51%	$88,500,000
	Note
    B-2	4.91%	30.51%	$88,500,000
	 	 	 	 

    A-1

     

    

 

EXHIBIT
B

 

Initial
Noteholders:

 

(i)
if to BMO:

 

Bank
of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Mike Birajiclian

Email: Michael.Birajiclian@bmo.com

 

with
a copy to:

 

Bank
of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Legal Department

Email: BMOCMUSLegal@bmo.com

(ii)
if to SMC:

 

Starwood
Mortgage Capital LLC

2340
Collins Avenue, Suite 700

Miami
Beach, Florida 33139

Attention:
Ms. Leslie K. Fairbanks

Email: lfairbanks@starwood.com

 

    B-1

     

    

 

EXHIBIT
C

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, Inc.

		11.	Praedium
                                         Group

		12.	J.E.
                                         Robert Companies

		13.	Fortress
                                         Investment Group LLC

		14.	Lonestar
                                         Opportunity Fund

		15.	Clarion
                                         Partners

		16.	Walton
                                         Street Capital, LLC

		17.	Starwood
                                         Financial Trust

		18.	BlackRock,
                                         Inc.

		19.	Rialto
                                         Capital Management, LLC

		20.	Rialto
                                         Capital Advisors, LLC

		21.	Raith
                                         Capital Partners, LLC

		22.	Eightfold
                                         Real Estate Capital, L.P.

		23.	Perella
                                         Weinberg Partners

		24.	Square
                                         Mile Capital Management LLC

 

    C-1

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