Document:

EX-10.29

 Exhibit 10.29 

EXECUTION VERSION 

FORBEARANCE AGREEMENT AND SEVENTH AMENDMENT TO MASTER 

REPURCHASE AND SECURITIES CONTRACT AGREEMENT 

This FORBEARANCE AGREEMENT AND SEVENTH AMENDMENT TO MASTER REPURCHASE AND SECURITIES CONTRACT AGREEMENT (this
“Amendment”) is made as of June 11, 2020 (the “Effective Date”), by and among CMTG GS Finance LLC, a Delaware limited liability company, having a mailing address of c/o Mack Real Estate Credit
Strategies, 60 Columbus Circle, 20th Floor, New York, New York 10023 (“Seller”) and Claros Mortgage Trust, Inc., a Maryland corporation, having a mailing address of
c/o Mack Real Estate Credit Strategies, 60 Columbus Circle, 20th Floor, New York, New York 10023 (“Guarantor”), and Goldman Sachs Bank USA, a New York State member bank,
having a mailing address of 200 West Street, New York, New York 10282 (“Purchaser”). 
 RECITALS

 A. Purchaser and Seller are parties to that certain Master Repurchase and Securities Contract Agreement, dated as of May 31,
2017, as amended by the First Amendment to Master Repurchase and Securities Contract Agreement, dated as of May 29, 2018, the Second Amendment to Master Repurchase and Securities Contract Agreement, dated as of August 31, 2018, the Third
Amendment to Master Repurchase and Securities Contract Agreement and First Amendment to Guarantee Agreement, dated as of March 12, 2019, the Fourth Amendment to Master Repurchase and Securities Contract Agreement, dated as of May 1, 2019,
the Fifth Amendment to Master Repurchase and Securities Contract Agreement, dated as of October 30, 2019 and the Sixth Amendment to Master Repurchase Agreement dated as of April 15, 2020 (as so amended and as further amended, modified
and/or restated, the “Repurchase Agreement”), by and between Seller, Guarantor (if applicable) and Purchaser, pursuant to which Purchaser and Seller have entered into certain Transactions (as defined in the Repurchase
Agreement) contemplated by the Repurchase Agreement and the other Transaction Documents (as defined in the Repurchase Agreement). 
 B.
Guarantor owns an indirect interest in Seller and has derived substantial benefit from the execution, delivery and performance by Seller of the Transaction Documents and the Transactions contemplated by the Repurchase Agreement and the other
Transaction Documents. 
 C. The Purchased Assets (as defined in the Repurchase Agreement) that are set forth on Schedule A attached
hereto (the “Subject Purchased Assets”) and the operations of the related Underlying Mortgaged Properties (as defined in the Repurchase Agreement) have been affected by the coronavirus
(COVID-19) (“Public Health Event”). 
 D. Seller has requested that for a
period commencing, subject to the terms and conditions of Section 2.01(b), on the Effective Date and expiring on December 11, 2020 (or in certain instances such shorter period as provided herein), subject to earlier
termination in accordance with Section 2.03 (the “Forbearance Period”), Purchaser agrees to not exercise its right to determine that a Mandatory Early Repurchase Event of the type described in
clauses (i) or (ii), of the definition thereof (any such event, a “Default Mandatory Early Repurchase Event”) has occurred, or that a Mandatory Early Repurchase Event of the type described in clauses (iii) (but solely
with respect to Article 9(b)(x)(D)) or (xii) of the definition thereof (any such event, an “Other Mandatory Early Repurchase Event”) has occurred. 

 E. Seller acknowledges that, upon the occurrence of a Mandatory Early Repurchase Event,
Purchaser has the right to require the repurchase of a Subject Purchased Asset pursuant to Section 3(f)(ii) of the Repurchase Agreement (any such repurchase or reduction, a “Mandatory Early
Repurchase”) subject to the terms of this Amendment. 
 F. Buyer has agreed to forbear from, but not waive, exercising its
rights and remedies under the Transaction Documents as a result of the occurrence of a Default Mandatory Early Repurchase Event or an Other Mandatory Early Repurchase Event for the time periods set forth herein and to temporarily modify certain
terms and provisions in the Transaction Documents as set forth herein. 
 NOW THEREFORE, in consideration of the foregoing, and for
other good and valuable consideration, the sufficiency and receipt of which are hereby mutually acknowledged, Purchaser, Seller and Guarantor hereby agree and covenant as follows: 

AGREEMENT 

ARTICLE I. 

DEFINITIONS 

Section 1.01. Definitions. All capitalized terms not otherwise defined herein shall have the
respective meanings ascribed to them in the Repurchase Agreement. 
 Section 1.02. Rules of
Construction. The Recitals set forth at the beginning of this Amendment are hereby incorporated in and made a part of this Amendment. All references to articles and sections headings in this Amendment are for convenience only and shall not
have a limiting effect on the interpretation or construction of the relevant provisions. All uses of the word “including” used herein shall mean “including without limitation”. Unless otherwise specified, the words hereof, herein
and hereunder and words of similar effect shall refer to this Amendment as a whole and not to any particular provision of this Amendment. Unless otherwise specified herein, all meanings attributed to terms defined herein shall be equally applicable
to both the singular and the plural forms of the terms so defined. 
 ARTICLE II. 

TERMS OF FORBEARANCE 

Section 2.01. Term; Conditions Precedent. 

(a) Forbearance Term. So long as Seller shall be in compliance with each and every term and condition of this Amendment in all material
respects, Purchaser hereby agrees to the forbearance modifications under Section 2.02 during the Forbearance Period. 

  
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 (b) Conditions Precedent. As a condition precedent to the commencement of the
Forbearance Period, Seller shall have satisfied (as determined by Purchaser in its sole discretion) each of the following (collectively, the “Conditions Precedent”): 

(i) Authorization. Each of Seller and Guarantor shall have duly authorized, executed and delivered this Amendment to Purchaser; 

(ii) Cash Transfer. Seller shall have transferred to Purchaser cash in the amount of $40,142,040.82 for the purpose of reducing the
outstanding Purchase Price of the Subject Purchased Assets (the cash transferred, the “Subject Purchase Price Reduction”), such that on the Effective Date, the outstanding Purchase Price of each Subject Purchased Asset is set
forth on Schedule A attached hereto; 
 (iii) Purchaser’s Expenses. Seller shall have paid to Purchaser all of its out-of-pocket costs and expenses incurred in connection with this Amendment (including, without limitation, reasonable attorney’s fees); and 

(iv) Confirmations. Seller and Purchaser shall enter into an amended and restated Confirmation with respect to each Subject Purchased
Asset on the Effective Date memorializing the Subject Purchase Price Reduction for such Subject Purchased Asset. 

Section 2.02. Forbearance Modifications. Purchaser hereby agrees to the following modifications of the
terms of the Repurchase Agreement for the Forbearance Period only: 
 (a) Definitions. The definitions of “Maximum Buyer’s
LTV”, “Margin Deficit” and “Margin Deficit Event” set forth in the Repurchase Agreement are hereby deleted in their entirety and replaced with the following: 

“Maximum Buyer’s LTV” shall mean with respect to each Purchased Asset, the percentage set forth on Schedule A to
this Amendment. 
 “Margin Deficit” shall mean an amount determined by Buyer in its sole discretion, as follows, provided
that the largest amount as calculated in accordance with clauses (i), (ii) and (iii) shall control: 

(i) with respect to any Margin Deficit Event described in clause (i) of the definition of “Margin Deficit
Event”, the Margin Deficit for the applicable Purchased Asset shall be an amount equal to the positive difference (if any) between (A) the outstanding Purchase Price of such Purchased Asset and (B) the Margin Amount for such Purchased
Asset, provided, however, that, if the Market Value of such Purchased Asset as a percentage of the unpaid principal balance of such Purchased Asset is less than the Absolute Dollar Market Value Holiday percentage as set forth on Schedule A to
this Amendment (adjusted for any Principal Payment received with respect to such Purchased Asset), then the Margin Deficit for such Purchased Asset shall include an additional amount equal to the absolute dollar amount of such decline in Market
Value that is less than the Absolute Dollar Market Value Holiday percentage as set forth on Schedule A to this Amendment from par, as determined by Buyer in its sole discretion; 

  
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 (ii) intentionally omitted; and 

(iii) with respect to any Margin Deficit Event described in clause (iii) of the definition of “Margin Deficit
Event”, the Margin Deficit for the applicable Purchased Asset shall be equal to an amount which, after payment of such Margin Deficit, will result in a Buyer’s LTV for the applicable Purchased Asset equal to the Buyer’s LTV as set
forth on Schedule A to this Amendment. 
 “Margin Deficit Event” shall mean the occurrence or existence of any of the
following, as determined by Buyer in its sole discretion: 
 (i) a decline in the Market Value of any Purchased Asset that
results in the Market Value of such Purchased Asset as a percentage of the unpaid principal balance of such Purchased Asset being less than the percentage set forth in the column titled “Market Value Margin Deficit Trigger” on Schedule
A to this Amendment with respect to such Purchased Asset; 
 (ii) intentionally omitted; and/or 

(iii) the Buyer’s LTV of any Purchased Asset is equal to or greater than the Maximum Buyer’s LTV of such Purchased
Asset. 
 After the expiration of the Forbearance Period, the definitions of “Maximum Buyer’s LTV”, “Margin Deficit” and
“Margin Deficit Event” set forth in this clause (a) shall be of no further force and effect, and the definitions of “Maximum Buyer’s LTV”, “Margin Deficit” and “Margin Deficit Event” for all
purposes under the Transaction Documents from and after such date shall be the definition set forth in the Repurchase Agreement immediately prior to the Effective Date. 

(b) Defaults. Purchaser agrees that it shall forbear from taking any action to exercise its right to require a Mandatory Early
Repurchase, as follows: 
 (A) if an Other Mandatory Early Repurchase Event occurs, such forbearance shall be in effect
during the Forbearance Period, and 
 (B) if a Default Mandatory Early Repurchase Event occurs, such forbearance shall be in
effect for the thirty (30) day period commencing on the day such Default Mandatory Early Repurchase Event occurs (or such fewer number of days as shall remain to the conclusion of the Forbearance Period); provided, if Seller and the
related Mortgagor and guarantor of the Subject Purchased Asset are negotiating in good faith a resolution of such Default Mandatory Early Repurchase Event, Purchaser may, in its sole and absolute discretion extend such thirty (30) day period
for additional thirty (30) day period (but not later than the end of the Forbearance Period). 
 The foregoing forbearance shall not
apply to any Mandatory Early Repurchase Event (other than a Default Mandatory Early Event or an Other Mandatory Early Repurchase Event) that gives Purchaser the right to require a Mandatory Early Repurchase pursuant to Article 3(f)(ii) of the
Repurchase Agreement. 

  
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 (c) Significant Modifications. Within ninety (90) days after the Effective Date
(the “Modification Period”), subject to the prior written approval of Purchaser (not to be unreasonably withheld) Seller shall be permitted to enter into Significant Modifications of any or all of the Subject Purchased Assets (any
such amendments, modifications and/or waivers, “Permitted Modifications”) providing for any or all of the following terms, provided that such Permitted Modification is pursuant to or a consequence of the Public Health Event:

 (A) changing the payment terms of the Purchased Asset Documents for any Subject Purchased Asset to provide that current
interest shall not be required to be paid in full on a monthly basis and instead shall be deferred and accrued and added to the principal balance of such Subject Purchased Asset for a period of up to six (6) months after the effective date of
such Permitted Modification (the “Purchased Asset Modification Period”); provided, however, that, Seller shall not (nor permit Primary Servicer to) effect any modification to any Subject Purchased Asset that would
result in a reduction in the determination of interest rate applicable to such Subject Purchased Asset without the prior written consent of Purchaser; 

(B) waiving, modifying or reallocating any required FF&E and capital expenditure escrow and other reserve deposits (other
than reserve deposits for real estate taxes, insurance and ground rent) during the Purchased Asset Modification Period relating to the Underlying Mortgaged Property subject to the Public Health Event, and utilizing FF&E reserves (including those
held by the brand manager), existing (and new, as set forth below) excess cash flow reserves, and capital expenditure reserves to pay for accrued and unpaid interest on the Purchased Asset as well as costs needed to carry the Underlying Mortgaged
Property; provided, however, that as a condition to such waiver, modification, reallocation, extension or utilization, Seller shall deliver to Purchaser evidence that such waiver, modification, reallocation, extension or utilization
has been approved by each applicable franchisor, property manager and/or ground lessor (and that all other required applicable approvals have been obtained), if required by the related Purchased Asset Documents; and 

(C) waiving or modifying any covenants requiring Mortgagor to continuously operate or limiting cessation of operations at any
Underlying Mortgaged Property during the Purchased Asset Modification Period (a “Cessation”); provided, however, that that as conditions to such waiver or modification, (i) Seller shall deliver to Purchaser
evidence that the related Mortgagor shall certify to Seller that all regulatory or other Requirements of Law and contractual requirements are satisfied and will not be breached as a result of such Cessation, (ii) Seller shall have delivered to
Purchaser (1) all documents, reports, certificates and other information provided by the related Mortgagor to Seller with respect to such Cessation, (2) a revised 2020 budget with respect to the Underlying Mortgaged Property and
(3) updated proforma financials with respect to the Underlying Mortgaged Property, (iii) the guarantor with respect to the related Purchased Asset shall indemnify the lender for any losses incurred by Seller as a result of such Cessation
and (iv) Seller shall deliver to Purchaser 

  
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evidence that such waiver or modification has been approved by each applicable franchisor, property manager and/or ground lessor (and that all other required applicable approvals have been
obtained), if required by the related Purchased Asset Documents; 
 provided that the following shall be conditions precedent to a
Permitted Modification: 
 (1) Seller shall cause that all excess cash flow from the Underlying Mortgaged Property underlying the related
Subject Purchased Asset be swept into a reserve account under Seller’s control to be applied to pay accrued and unpaid interest on such Subject Purchased Asset; and 

(2) Seller shall require and continue to require the related Mortgagor to make deposits into the tax and insurance accounts to the extent
required pursuant to the related Purchased Asset Documents immediately prior to such Permitted Modification. 
 (d) Whether or not, prior to
the Effective Date, a Margin Deficit Event or an event that would constitute a Mandatory Early Repurchase Event occurred with respect to any Subject Purchased Asset, to the extent Purchaser had knowledge of such event and such event is no longer
continuing, Purchaser waives the right to require a Mandatory Purchase Price Reduction with respect to any Margin Deficit Event or event that would constitute a Mandatory Early Repurchase Event that may have occurred prior to the Effective Date. To
Seller’s knowledge, as of the Effective Date, no event that would constitute a Mandatory Early Repurchase Event has occurred that has not been disclosed in writing to Purchaser. 

Section 2.03. Termination Events. Notwithstanding anything set forth in this Amendment to the
contrary, upon the occurrence of any Termination Event, Purchaser may elect, in its sole discretion, by written notice to Seller, to immediately terminate the Forbearance Period. Upon the termination of the Forbearance Period, Purchaser may elect to
commence and/or resume the exercise of its rights and remedies under the Transaction Documents, at law or in equity, without any further obligation of Purchaser to provide any notice, demand or cure periods, including, without limitation, the right
to issue any Margin Deficit Notice or to declare a Mandatory Early Repurchase Event with respect to any Purchased Asset. As used herein, “Termination Event” shall refer to one or more of the following events, circumstances or
conditions: 
 (a) Payment Default. If Seller or Guarantor fails to make any payment as and when required by this Amendment; 

(b) Breach of Representation or Warranty. If any of the representations or warranties made by Seller or Guarantor in this Amendment
shall be false or misleading in any material respect as of the date the representation or warranty was made, or if any report, statement or information provided by Seller or Guarantor to Purchase in accordance with the terms of this Amendment shall
be false or misleading; 
 (c) Breach of Covenant. If Seller or Guarantor shall be in default of any term, covenant or condition of
this Amendment; 

  
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 (d) Additional Events of Default. If any Event of Default shall occur under the
Transaction Documents as modified by this Amendment; and 
 (e) Actions by Seller or Guarantor. If any of Seller, Guarantor, or any
Affiliate of Seller or Guarantor files suit against any of the Purchaser Parties with respect to any claim that has been released pursuant to the terms hereof. 

Section 2.04. Preferences. To the extent Seller or Guarantor makes a payment or payments to Purchaser,
including, without limitation, the Subject Purchase Price Reduction, which payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or
any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder or part thereof intended to be satisfied shall be revived and continue
in full force and effect, as if such payment or proceeds had not been received by Purchaser. 
 Section 2.05.
Partial Payments. Except as otherwise expressly provided herein, no acceptance by Purchaser of any partial payment of amounts due in respect of the Subject Purchased Assets shall constitute a waiver, reduction or modification of
amounts due in respect of the Subject Purchased Assets except to the extent of such payment accepted by Purchaser. 

Section 2.06. Reservation of Rights. Except as expressly provided herein, delivery of this Amendment
shall not be deemed a waiver of any of the rights or remedies available to the Purchaser under the Transaction Documents or at law, equity or otherwise, including, without limitation as a result of any Potential Event of Default or Event of Default
that may now or hereafter exist under any of the Transaction Documents. 
 Section 2.07. Remedies.
Each of Seller and Guarantor hereby acknowledges that, subject to the expiration or termination of the Forbearance Period, Purchaser reserves the right to exercise all rights and remedies it may have and/or to which it is entitled under the
Transaction Documents, at law and in equity. 
 ARTICLE III. 

REPRESENTATIONS AND WARRANTIES 

Section 3.01. Each of Seller and Guarantor represents, warrants, acknowledges, certifies and agrees to and for the
benefit of Purchaser that, as of the Effective Date: 
 (a) Good Standing. Seller (i) is a duly organized and validly existing
limited liability company in good standing under the laws of the State of Delaware, (ii) has the requisite power and authority to carry on its business as now being conducted, and (iii) is duly qualified to do business in each jurisdiction
in which the nature of its business makes such qualification necessary or desirable except where failure to so qualify could not be reasonably likely to have a Material Adverse Effect. Guarantor (i) is a duly organized and validly existing
corporation in good standing under the laws of the State of Maryland, (ii) has the requisite power and authority to carry on its business as now being conducted, and (iii) is duly qualified to do business in each jurisdiction in which the
nature of its business makes such qualification necessary or desirable except where failure to so qualify could not be reasonably likely to have a Material Adverse Effect. 

  
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 (b) Authorization, No Conflict. The execution, delivery and performance by Seller and
Guarantor of this Amendment (i) have been duly authorized by all requisite action on the part of the Seller and Guarantor, (ii) will not violate any provision of any applicable legal requirements, decree, injunction or demand of any court
or other governmental authority in any material respect, any organizational document of Seller or Guarantor or any indenture or agreement or other instrument to which Seller or Guarantor are a party or by which Seller or Guarantor are bound,
(iii) will not be in conflict with, result in breach of, or constitute (with due notice or lapse of time or both) a default under, or result in the creation or imposition of any lien of any nature whatsoever upon any of the property or assets
of the Seller or Guarantor pursuant to any such indenture, agreement or instrument, and (iv) have been duly executed and delivered by Seller and Guarantor. Except for those obtained or filed on or prior to the date hereof, neither Seller nor
Guarantor is required to obtain any consent, approval or authorization from, or to file any declaration or statement with, any governmental authority or other agency in connection with or as a condition to the execution, delivery or performance of
this Amendment. 
 (c) Enforceability. This Amendment constitutes a legal, valid and binding obligation of Seller and Guarantor,
enforceable against Seller and Guarantor in accordance with its terms, subject to bankruptcy, insolvency and other limitations on creditors’ rights generally and to equitable principles. 

(d) No Defaults or Events of Defaults. There are no Potential Events of Default or Events of Default existing under the Transaction
Documents or, except as otherwise disclosed in writing to Purchaser, with respect to any Subject Purchased Asset. 
 (e) No Bankruptcy
Intent. Neither Seller nor Guarantor have any intent to (i) file any voluntary petition under any Chapter of the Bankruptcy Code, Title 11, U.S.C.A. (as amended, the “Bankruptcy Code”), or in any manner to seek any
proceeding for relief, protection, reorganization, liquidation, dissolution or similar relief for debtors under any local, state, federal or other insolvency law or laws providing relief for debtors, (ii) directly or indirectly cause any
involuntary petition under any Chapter of the Bankruptcy Code, to be filed against Seller or Guarantor, (iii) seek or consent to or acquiesce in the appointment of any trustee, receiver, conservator, liquidator or assignee for the benefit of
creditors or other similar person or entity regardless of their title, (iv) be the subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against Seller or Guarantor in connection
with any proceeding, or (v) directly or indirectly cause the Purchased Assets or any portion or any interest of Seller in the Purchased Assets to become the property of any bankrupt estate or the subject of any proceeding for relief,
protection, reorganization, liquidation, dissolution or similar relief for debtors under any local, state, federal or other insolvency law or laws providing relief for debtors. 

(f) No Modifications. There are no modifications, waivers, extensions, novations, verbal or written, to the Transaction Documents and
no waivers, estoppels or agreements to forbear other than those described herein. 

  
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 (g) Other Encumbrances. There are no liens or encumbrances on the Purchased Assets,
other than those liens or encumbrances expressly provided for under the Transaction Documents. 
 (h) Financial Information. The
financial information prepared by Seller and Guarantor and submitted to Purchaser relating to Seller, Guarantor and/or to Seller’s and Guarantor’s Knowledge, the Subject Purchased Assets, is accurate, complete and correct in all material
respects, and there has been no adverse change in any condition, fact, circumstance or event that would make any such information inaccurate, incomplete, incorrect or otherwise misleading. 

Section 3.02. Survival of Representations and Warranties. Without in any way limiting any provision of
any of the Transaction Documents which provide for a longer period of survival, Seller and Guarantor hereby agree that (i) all representations and warranties made by Seller or Guarantor in this Amendment shall continue for so long as any
Repurchase Obligations remain owing to Purchaser in respect of the Purchased Assets or any of the other Transaction Documents, and (ii) all representations, warranties and agreements made in this Amendment shall be deemed to have been relied
upon by Purchaser notwithstanding any investigation heretofore or hereafter made by Purchaser or on its behalf. 
 ARTICLE IV. 

REAFFIRMATIONS AND CONSENT 

Section 4.01. Seller Reaffirmation. Seller hereby acknowledges and agrees that except as expressly set
forth herein, neither this Amendment, nor any actions pursuant to this Amendment, nor any negotiations or discussions among the parties or any of their agents, officers or principals, shall be deemed or construed to cure any existing defaults under
the Transaction Documents, or constitute a reinstatement, novation or release of the Repurchase Obligations, or constitute a modification, amendment or waiver of the Repurchase Agreement or other Transaction Documents. Seller hereby
(i) unconditionally confirms, ratifies and reaffirms each and every representation, warranty, and covenant set forth in the Transaction Documents executed by Seller and its obligations thereunder, except with respect to such representations and
warranties which are date specific and by their express terms are no longer applicable, and (ii) acknowledges and agrees that such obligations remain in full force and effect, binding on and enforceable against Seller in accordance with the
terms, covenants and conditions of the Transaction Documents, without impairment, except as expressly modified by this Amendment. 

Section 4.02. Guarantor Reaffirmation and Consent. (i) Guarantor hereby acknowledges and agrees
that except as expressly set forth herein, neither this Amendment, nor any actions pursuant to this Amendment, nor any negotiations or discussions among the parties or any of their agents, officers or principals, shall be deemed or construed to cure
any existing defaults under the Transaction Documents, or constitute a reinstatement, novation or release of the Repurchase Obligations, constitute a modification, amendment or waiver of the Repurchase Agreement or other Transaction Documents, or
affect Guarantor’s liability under the Guarantee Agreement in any manner. Guarantor hereby (i) unconditionally confirms, ratifies and reaffirms each and every representation, warranty, and covenant set forth in the Guarantee Agreement and
its obligations thereunder, except with respect to such representations and warranties which are 

  
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date specific and by their express terms are no longer applicable, and (ii) acknowledges and agrees that such obligations remain in full force and effect, binding on and enforceable against
Guarantor in accordance with the terms, covenants and conditions of the Guarantee Agreement, without impairment, except as expressly modified by this Amendment. 

(ii) Guarantor hereby specifically consents to the terms and provisions of this Amendment, and hereby agrees that all references in the
Guarantee Agreement to the Repurchase Agreement and the Transaction Documents hereafter shall be deemed to refer to the Repurchase Agreement and the Transaction Documents, as modified by this Amendment. 

ARTICLE V. 
 WAIVERS,
RELEASES AND INDEMNIFICATIONS 
 Section 5.01. Consideration. Each of Seller and Guarantor
hereby acknowledges and agrees that (i) it has received good and valuable consideration for its agreement to the terms and provisions of this Amendment, including without limitation, this Article V, (ii) its agreement to such
terms and provisions is a material condition and inducement to Purchaser’s willingness to enter into this Amendment and the forbearance contemplated herein, (iii) Purchaser has relied upon the agreement of each of Seller and Guarantor to
such terms and provisions in entering into this Amendment and the forbearance contemplated herein and Purchaser would not have entered into this Amendment or the forbearance contemplated herein without the agreement of Seller and Guarantor to the
terms and provisions of this Amendment and this Article V in particular, (iv) it has been represented by competent counsel of its own choosing in the negotiation of this Amendment and this Article V in particular,
and it has discussed this provisions with counsel and hereby knowingly and willingly waives its rights as described in this Article V. This Amendment (and this Article V) may be introduced as evidence in any judicial or
other proceeding, without further authentication or foundation, and shall constitute prima facie evidence of the facts and agreements set forth herein. 

Section 5.02. No Defenses, Counterclaims or Offsets. Each of Seller and Guarantor for itself and its
respective heirs, executors, administrators and successors and assigns, and by its execution hereof (i) hereby acknowledges, admits and agrees that, as of the Effective Date, there are no objections, claims, defenses, counterclaims or offsets
relating to their obligations under or in respect of the Purchased Assets, the Transaction Documents or to the enforcement or exercise by Purchaser of any of its rights, powers or remedies under or in respect of the Transaction Documents, at law or
in equity, and (ii) hereby irrevocably waives, relinquishes and releases any and all such objections, claims, defenses, counterclaims or offsets, that may now or hereafter exist, including without limitation, any and all such objections,
claims, defenses, counterclaims or offsets whether known or unknown, foreseeable or unforeseeable. 

Section 5.03. Releases. Each of Seller and Guarantor on behalf of itself and its respective, heirs,
executors, administrators and successors and assigns (collectively the “Seller Releasing Parties”) hereby irrevocably remises, releases, acquits, satisfies and forever discharges Purchaser and all of its respective past,
present and future partners, officers, directors, principals, employees, agents, attorneys, servicers, subservicers, special servicers, contractors, representatives, participants, shareholders, investors, successors, assigns, subsidiaries,
affiliates, parents and predecessors in interest (collectively, the “Purchaser Parties”) from any and all 

  
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manner of debts, accounts, bonds, warranties, representations, covenants, promises, contracts, controversies, agreements, liabilities, obligations, expenses, damages, judgments, executions,
defenses, offsets, counterclaims, actions, claims, demands and causes of action of any nature whatsoever, whether at law or in equity, whether known or unknown, which any of Seller Releasing Parties now have by reason of any matter, cause or thing,
arising on or before the Effective Date of this Amendment including without limitation, matters arising out of or relating to (i) the Purchased Assets and the Transaction Documents, including without limitation, the funding thereof,
(ii) any enforcement of Purchaser’s rights under the Transaction Documents, and (iii) any other agreement or transaction between any of Seller Releasing Parties and any of Purchaser Parties concerning matters arising out of or
relating to the items set forth in subsections (i) through (ii) above. The Seller Releasing Parties recognize that they may be releasing claims of which they do not yet have knowledge, but Seller Releasing Parties nevertheless acknowledge that
this provision has been specifically bargained for by Purchaser as a material inducement to the execution of this Amendment. The release set forth in this paragraph and related indemnification set forth below will survive any expiration or
termination of the Forbearance Period or this Amendment. 
 Section 5.04. Expenses. Seller and
Guarantor agree to pay all expenses and costs incurred by Purchaser (including reasonable attorney’s fees) in connection with the preparation and negotiation of this Amendment. 

Section 5.05. [Intentionally Omitted]. 

Section 5.06. Purchase Price Differential. Nothing contained herein, shall modify or release Seller
from its obligation to pay Price Differential on each Remittance Date during the Forbearance Period. 

Section 5.07. WAIVER OF JURY TRIAL. NEITHER SELLER NOR GUARANTOR SHALL SEEK A JURY TRIAL IN ANY ACTION
BASED UPON OR ARISING OUT OF OR OTHERWISE RELATING TO THIS AMENDMENT, THE REPURCHASE AGREMENT OR ANY OF THE OTHER TRANSACTION DOCUMENTS. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF SELLER AND GUARANTOR HEREBY IRREVOCABLY AND EXPRESSLY WAIVES
ANY AND ALL RIGHT TO ANY SUCH JURY TRIAL AND AGREES THAT NO SUCH ACTION WITH RESPECT TO WHICH A JURY TRIAL HAS BEEN WAIVED SHALL BE SOUGHT TO BE CONSOLIDATED WITH ANY OTHER ACTION WITH RESPECT TO WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED.
THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF SELLER AND GUARANTOR AND ITS COUNSEL, AND SHALL NOT BE SUBJECT TO ANY EXCEPTIONS. 

Section 5.08. Cooperation and Noninterference. Upon the expiration of the Forbearance Period, neither
Seller nor Guarantor shall take any action of any kind or nature whatsoever, directly or indirectly, to delay, oppose, impede, obstruct, hinder, enjoin, otherwise interfere with, and Seller and Guarantor will cooperate and comply with, the exercise
by Purchaser of any and all of Purchaser’s rights and remedies against Seller, Guarantor and/or the Purchased Assets, or any other rights or remedies of Purchaser with respect to the Repurchase Agreement, the other Transaction Documents, or
this Amendment. 

  
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 Section 5.09. Future Negotiations. Each of Seller
and Guarantor acknowledges and agrees that (i) Purchaser has no obligation whatsoever to discuss, negotiate or to agree to any amendment, modification, waiver, forgiveness, reinstatement or restructuring of the Repurchase Agreement or the other
Transaction Documents or to forbear from exercising its rights and remedies under the Transaction Documents, at law or in equity, except as expressly provided in this Amendment; (ii) if there are any future discussions among Purchaser, Seller
and Guarantor concerning any such amendment, modification, waiver, forgiveness, reinstatement or restructuring of the Repurchase Agreement or the other Transaction Documents, then no such discussions shall constitute a legally binding agreement or
contract or have any force or effect whatsoever unless and until reduced to writing and duly authorized, executed and delivered by the appropriate representatives of the parties; and (iii) neither Seller nor Guarantor shall assert or claim in
any legal proceedings or otherwise that any such discussions have resulted in an agreement except in accordance with the terms of this paragraph. 

ARTICLE VI. 

MISCELLANEOUS 

Section 6.01. Purchaser’s Discretion. Whenever this Amendment provides for a decision or consent
to be subject in Purchaser’s discretion, or for any deliverable to be acceptable to Purchaser, such matter shall be subject to the sole discretion of Purchaser unless expressly provided to the contrary herein. 

Section 6.02. Counterparts; Electronic Signatures. 

(a) This Amendment may be executed by facsimile or signatures or E-Signatures, and in any number of
identical counterparts, each of which shall be deemed to be an original, and all of which shall collectively constitute a single agreement, fully binding upon and enforceable against the parties hereto. 

(b) Each of Purchaser, Seller, and Guarantor represent and warrant that the intention of the natural Person signing this Amendment on its
behalf is to attribute its respective signature to the Amendment and that if the party has signed using an E-Signature (defined below), that E-Signature represents the
signer’s signature to this Amendment. Each of Purchaser, Seller, and Guarantor understand and agree that such E-Signature, if applicable, is legally binding. Each party signing this Amendment using an E-Signature waives all rights to repudiate the authenticity or validity of its E-signature to the extent such repudiation is based in whole or in part on the fact that such
signature is not in original handwritten form. All parties to this Amendment agree that the law governing all applicable E-Signatures will be the federal Electronic Signatures in Global and National Commerce
Act of 2000 (15 U.S. Code, Chapter 96) (E-SIGN) and/or the Uniform Electronic Transactions Act of 1999 as promulgated by the U.S. Uniform Law Commission for consideration and enactment by the States (UETA),
and that under no circumstances will E-Signatures be governed by the Uniform Computer Information Transactions Act (UCITA). As used in this Amendment,
“E-Signature” means any form of signature other than an original handwritten signature, including any type of image created in any manner (whether electronically or otherwise) which
image could reasonably be interpreted as an indication of the signer’s intent to sign the document. 

  
 12 

 Section 6.03. Admissibility. This Amendment shall be
admissible in any court, administrative or other judicial proceeding, and shall constitute prima facie evidence of the agreements provided herein. 

Section 6.04. Governing Law. This Amendment shall be governed by the internal laws of the State of New
York without regard to principles of conflict of law, in accordance with Section 5-1401 of the New York General Obligations Law. Any legal suit, action or proceeding against Purchaser or Seller arising
out of or relating to this Amendment may at Purchaser’s option be instituted in any federal or state court in the State of New York and each of Seller and Guarantor hereby (i) waives any objections which it may now or hereafter have based
on such venue or forum and (ii) submits to the jurisdiction of any such court in any such suit, action or proceeding. 

Section 6.05. Modification; Waiver in Writing. No modification, amendment, extension, discharge,
termination or waiver of any provision of this Amendment or of any Transaction Document, or any consent to any departure therefrom, shall be effective unless the same shall be in a writing signed by the party against whom enforcement is sought, and
then such waiver or consent shall be effective only in the specific instance, and for the purpose, for which given. Except as otherwise expressly provided herein, no notice to or demand on Seller shall entitle Seller to any other or future notice or
demand in the same, similar or other circumstances. 
 Section 6.06. Delay Not a Waiver. No failure
or delay on the part of Purchaser in insisting upon strict performance of any term, condition, covenant or agreement, or in the exercise of any right, power, remedy or privilege hereunder or under the Transaction Documents shall operate as or
constitute a waiver hereunder or thereunder, nor shall a single or partial exercise thereof preclude any other future exercise, or the exercise of any other right, power, remedy or privilege. 

Section 6.07. Notices. Notwithstanding anything set forth in the Transaction Documents to the
contrary, Purchaser, Seller, and Guarantor agree that this Amendment and any notices, consents, approvals and requests required or permitted hereunder or under any Transaction Document may be sent by electronic transmission (email) (without any
obligation to send by any other method), and shall be deemed received upon the earlier of (i) the actual receipt of the same and (ii) sender’s receipt of confirmation (which may be in the form of an automated electronic response) of
successful delivery or on or before 5:00 pm New York time on any Business Day or on the next Business Day if so delivered after 5:00 pm New York time or on any day other than a Business Day, provided that
non-receipt of any communication as of the result of a refusal to accept delivery shall be deemed receipt of such communication. Purchaser hereby notifies Seller and Guarantor that, unless and until Purchaser
has sent a subsequent notice to Seller and Guarantor revoking the notice set forth in this paragraph, Seller and Guarantor shall deliver all formal notices, consents, approvals and requests required or permitted hereunder or under any Transaction
Document to Purchaser in writing via email to Jeffrey Dawkins at [***] with a copy to [***]. Seller hereby notifies Purchaser that, unless and until Seller has sent a subsequent notice to Purchaser revoking the notice set forth in this paragraph,
Purchaser shall deliver all formal notices, consents, approvals and requests required or permitted hereunder or under any Transaction Document to Seller or Guarantor in writing via email to Adam Ostrowsky at [***]. 

  
 13 

 Section 6.08. No Joint Venture or Partnership. Each
of Seller, Guarantor and Purchaser intend that the relationships created hereunder and under the other Transaction Documents be solely that of Seller and Purchaser. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common, or joint tenancy relationship between any of Seller, Guarantor or Purchaser nor to grant Purchaser any interest in the Purchased Assets other than that of
beneficiary or Purchaser. 
 Section 6.09. No Third Party Beneficiaries. This Amendment and the
Transaction Documents are solely for the benefit of Purchaser, Seller and Guarantor, and nothing contained in this Amendment or the Transaction Documents shall be deemed to confer upon anyone other than Purchaser, Seller and Guarantor any right to
insist upon or to enforce the performance or observance of any of the obligations contained herein or therein. 

Section 6.10. Conflict. This Amendment shall be deemed to constitute a Transaction Document as defined
in the Repurchase Agreement. In the event of any conflict between the provisions of this Amendment and the provisions of any other Transaction Document, the provisions of this Amendment shall control. 

Section 6.11. Merger; Pre-Negotiation Agreement. Without
limitation of the provisions set forth in the Transaction Documents, this Amendment contains the entire agreement of the parties hereto in respect of the transactions contemplated hereby, and all prior agreements among or between such parties,
whether oral or written, are superseded by the terms of this Amendment. Each of the parties hereto hereby agrees that (i) each of the terms, conditions and agreements set forth in that certain
Pre-Negotiation Agreement between Seller, Pledgor, Guarantor and Purchaser, dated as of April 20, 2020 are hereby incorporated herein by reference and (ii) such
Pre-Negotiation Agreement shall survive the execution and delivery of this Agreement; provided further, that in the event of a conflict between the terms of the
Pre-Negotiation Agreement and the terms of this Agreement and the rights and remedies expressly set forth herein, the terms of this Agreement shall control so long as this Agreement remains in effect. 

Section 6.12. Confidentiality. This Amendment shall be kept confidential (except as required by law or
other governmental requirements, rules or regulations) and, without the prior express written consent of each of Seller, Guarantor and Purchaser and except on a “need to know” basis, no party hereto shall disclose to any third party
(except for the attorneys, agents, consultants, representatives, legal, accounting or financial advisors of such party) this Amendment or the fact of its existence; provided, however, that Purchaser, Seller and Guarantor may disclose
the nature and terms of this Amendment to their respective members, managers, affiliates, partners, shareholders, investors, owners, employees, representatives, attorneys and advisors and each of the foregoing may disclose the nature and terms of
this Amendment to its respective members, managers, affiliates, partners, shareholders, investors, owners, employees, representatives, attorneys and advisors. 

  
 14 

 Section 6.13. Successors and Assigns. This Amendment
shall be binding upon the Seller, Guarantor and Purchaser, and their respective successors, and assigns; provided however, this Amendment shall not be assigned by Seller or Guarantor without the prior written consent of Purchaser. 

Section 6.14. Judicial Interpretation. Each party hereto agrees that a court interpreting or
construing this Amendment shall not apply a presumption that the terms hereof shall be more strictly construed against any party deemed the drafter hereof, it being agreed that all parties hereto have participated in the preparation hereof. 

Section 6.15. Further Assurances. Upon request from Purchaser, each of Seller and Guarantor agrees to
execute and deliver such other and further documents as may be necessary or appropriate (as determined in Purchaser’s sole discretion), to consummate the transactions contemplated by this Amendment. 

Section 6.16. Severability. Wherever possible, each provision of this Amendment shall be
interpreted in such manner as to be effective and valid under applicable legal requirements, but if any provision of this Amendment shall be prohibited by or invalid under applicable legal requirements, 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 Amendment. 

[SIGNATURES COMMENCE ON FOLLOWING PAGE] 

  
 15 

 IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed and
delivered effective as of the date and year first above written. 
  

			
	SELLER:
	
	CMTG GS FINANCE LLC, a Delaware
limited liability company
		
	By:	 	 /s/ J. Michael McGillis

		 	Name: J. Michael McGillis
		 	Title: Authorized Signatory
	
	GUARANTOR:
	
	CLAROS MORTGAGE TRUST, INC., a
Maryland corporation
		
	By:	 	 /s/ J. Michael McGillis

		 	Name: J. Michael McGillis
		 	Title: Authorized Signatory

  
 [SIGNATURE PAGE TO
FORBEARANCE AGREEMENT] 

 
			
	GOLDMAN SACHS BANK USA, a New York state-chartered bank
		
	By:	 	 /s/ Jeffrey Dawkins

		 	Name: Jeffrey Dawkins
		 	Title: Authorized Person

  
 [SIGNATURE PAGE TO
FORBEARANCE AGREEMENT] 

 SCHEDULE A 
  

																													
	 Schedule A - Mack
	 
	 Purchased Asset
	  	Buyer’s LTV	 	 	Maximum
Buyer’s LTV	 	 	Subject Purchase
Price Reduction
Percentage	 	 	Subject Purchase
Price Reduction	 	  	Subject Purchase
Price	 	  	Market Value Margin
Deficit Trigger	 	 	Absolute Dollar
Market Value Holiday	 
	 Via Mizner
	  	 	48.0	% 	 	 	74.6	% 	 	 	0.0	% 	 	$	0.00	 	  	$	105,808,060.76	 	  	 	80.0	% 	 	 	70.0	% 
	 Atelier at University Park
	  	 	64.5	% 	 	 	76.3	% 	 	 	5.0	% 	 	$	3,030,000.00	 	  	$	57,570,000.00	 	  	 	76.7	% 	 	 	66.7	% 
	 The Axton
	  	 	55.1	% 	 	 	71.7	% 	 	 	10.0	% 	 	$	2,799,920.00	 	  	$	25,199,280.00	 	  	 	74.3	% 	 	 	64.3	% 
	 Vue 32
	  	 	74.3	% 	 	 	86.6	% 	 	 	10.0	% 	 	$	4,608,000.00	 	  	$	41,472,000.00	 	  	 	72.8	% 	 	 	62.8	% 
	 Valo Apartments
	  	 	53.2	% 	 	 	65.5	% 	 	 	5.0	% 	 	$	2,752,234.94	 	  	$	52,292,463.86	 	  	 	76.3	% 	 	 	66.3	% 
	 Brill Building
	  	 	63.6	% 	 	 	76.0	% 	 	 	12.5	% 	 	$	19,603,135.88	 	  	$	137,221,951.14	 	  	 	71.7	% 	 	 	61.7	% 
	 Pines Garden
	  	 	60.1	% 	 	 	70.5	% 	 	 	5.0	% 	 	$	3,448,750.00	 	  	$	65,526,250.00	 	  	 	76.4	% 	 	 	66.4	% 
	 575 4th Street
	  	 	50.9	% 	 	 	62.9	% 	 	 	10.0	% 	 	$	3,900,000.00	 	  	$	35,100,000.00	 	  	 	74.6	% 	 	 	64.6	% 
	 EON Flagler
	  	 	49.8	% 	 	 	69.1	% 	 	 	0.0	% 	 	$	0.00	 	  	$	45,000,000.00	 	  	 	80.0	% 	 	 	70.0	% 
		  				 				 				 	  
	  
	 	  				  				 			
	 Total
	  				 				 				 	$	40,142,040.82	 	  				  				 			
		  				 				 				 	  
	  
	 	  				  				 			

  
 18EX-10.30

 Exhibit 10.30 

GUARANTEE AGREEMENT 

THIS GUARANTEE AGREEMENT, dated as of May 31, 2017 (as amended, restated, supplemented, or otherwise modified from time to time, this
“Guarantee”), made by CLAROS MORTGAGE TRUST INC., a Maryland corporation (“Guarantor”), in favor of GOLDMAN SACHS BANK USA, a New York state-chartered bank, as buyer (“Buyer”). 

RECITALS 
 A. Pursuant to
that certain Master Repurchase and Securities Contract Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), between Buyer and CMTG GS
Finance LLC, a Delaware limited liability company (“Seller”), Seller has agreed to sell to Buyer, certain Eligible Assets, as defined in the Repurchase Agreement, upon the terms and subject to the conditions as set forth therein.
Pursuant to the terms of that certain Custodial Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Custodial Agreement”), by and among Buyer, Seller and Wells
Fargo Bank, N.A. (“Custodian”), Custodian is required to take possession of the Purchased Assets, along with certain other documents specified in the Custodial Agreement, as Custodian of Buyer and any future purchaser, on several
delivery dates, in accordance with the terms and conditions of the Custodial Agreement. Pursuant to the terms of that certain Pledge and Security Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from
time to time, the “Pledge Agreement”), made by CMTG GS Finance Holdco LLC, a Delaware limited liability company (“Pledgor”), in favor of Buyer, Guarantor has pledged to Buyer all of the Collateral (as defined in the
Pledge Agreement). The Repurchase Agreement, the Custodial Agreement, the Depository Agreement, the Servicing Agreement, the Fee Letter, the Pledge Agreement and this Guarantee shall be referred to herein as the “Transaction
Documents”. 
 B. Guarantor indirectly owns one hundred percent (100%) of the legal and beneficial limited liability company
interest in, and controls, Seller and Pledgor, and Guarantor will derive benefits, directly and indirectly, from the execution, delivery and performance by Seller of the Transaction Documents and the transactions contemplated by the Repurchase
Agreement. 
 C. It is a condition precedent to Buyer acquiring the Purchased Assets pursuant to the Repurchase Agreement that Guarantor
shall have executed and delivered this Guarantee. 
 NOW, THEREFORE, in consideration of the foregoing premises, to induce Buyer to enter
into the Transaction Documents and to enter into the transactions contemplated thereunder, Guarantor hereby agrees with Buyer as follows: 

1. Defined Terms. Each of the definitions set forth on Exhibit A hereto are, solely for the purpose of
Section 9 hereof, hereby incorporated herein by reference. Unless otherwise defined herein, terms which are defined in the Repurchase Agreement and used herein are intended to be used as such terms are so defined in the
Repurchase Agreement. 

 2. Guarantee. (a) Subject to Sections 2(b), 2(c) and 2(d)
below, Guarantor hereby unconditionally and irrevocably guarantees to Buyer the prompt and complete payment and performance when due, whether at stated maturity, by acceleration of the Repurchase Date or otherwise, of all of the following:
(i) all payment obligations owing by Seller to Buyer under or in connection with the Repurchase Agreement or any of the other Transaction Documents or other agreements relating thereto, (ii) any and all extensions, renewals, modifications,
amendments or substitutions of the foregoing, and (iii) any other obligations of Seller and Pledgor with respect to Buyer under each of the Transaction Documents (collectively, the “Obligations”). 

(b) Notwithstanding anything in Section 2(a) herein to the contrary, but subject in all cases to Sections
2(c) and 2(d) below, the maximum liability of Guarantor hereunder and under the Transaction Documents shall in no event exceed twenty-five percent (25%) of the then-currently unpaid aggregate Purchase Prices of all Purchased Assets. 

(c) Notwithstanding the foregoing, or any other provision herein to the contrary, the twenty-five percent (25%) limitation on recourse
liability as set forth in Section 2(b) above SHALL BECOME NULL AND VOID and shall be of no further force and effect, and the Obligations shall be full recourse to Guarantor, upon the occurrence of any of the following: 

(i) a voluntary bankruptcy or insolvency proceeding is commenced by Seller, Pledgor or Guarantor under the Bankruptcy Code or
any similar federal or state law; 
 (ii) Seller, Pledgor or Guarantor consents to or joins in any application for the
appointment of a custodian, receiver, trustee or examiner for Seller or Seller’s assets and liabilities; and 
 (iii) an
involuntary bankruptcy or insolvency proceeding is commenced against Seller, Pledgor or Guarantor in connection with which Seller, Pledgor or Guarantor (alone or in any combination) (A) has or have colluded or conspired in any way with the
creditors commencing or filing such proceeding, (B) has solicited or caused to be solicited petition creditors for any involuntary bankruptcy or insolvency petition against Seller, Pledgor or Guarantor from any Person, or (C) has filed an
answer consenting to or joining in with respect to such involuntary bankruptcy or insolvency proceeding. 
 (d) In addition to the
foregoing, and notwithstanding the limitations on recourse liability set forth in Section 2(b) above, Guarantor shall be liable to Buyer for any costs, losses, claims, expenses or other liabilities actually incurred by
Buyer resulting from any of the following matters: 
 (i) fraud, intentional misrepresentation, gross negligence or willful
misconduct by Seller, Pledgor or Guarantor, or any Subsidiary of Guarantor in connection with the execution and delivery of this Guarantee, the Repurchase Agreement or any of the other Transaction Documents, or any certificate, report, financial
statement or other instrument or document furnished to Buyer at the time of the closing of the Repurchase Agreement or during the term of the Repurchase Agreement; 

  
 -2- 

 (ii) any material breach by Seller, Guarantor or any of their respective
Affiliates, of any representations and warranties relating to Environmental Laws, or any indemnity for costs incurred in connection with the violation of any Environmental Law, the correction of any environmental condition, or the removal of any
Materials of Environmental Concern, in each case in any way affecting Seller’s or Guarantor’s properties or any of the Purchased Assets; 

(iii) Seller’s failure to obtain Buyer’s prior written consent to any subordinate financing or voluntary liens in
each case that encumber any or all of the Purchased Assets that are not permitted under the Transaction Documents; and 

(iv) any breach of the separateness covenants set forth in Article 12 of the Repurchase Agreement that results in the
substantive consolidation of any of the assets and/or liabilities of Seller or Pledgor with any other Person (including, without limitation, in connection with any proceeding under any Insolvency Law). 

(e) Guarantor further agrees to pay any and all reasonable
out-of-pocket expenses (including, without limitation, all reasonable fees and disbursements of counsel) which may be paid or incurred by Buyer in enforcing any rights
with respect to, or collecting, any or all of the Obligations and/or enforcing any rights with respect to, or collecting against, Guarantor under this Guarantee after the occurrence and during the continuance of an Event of Default. This Guarantee
shall remain in full force and effect until the later of (i) the date upon which the Obligations are paid in full and (ii) the termination of the Repurchase Agreement, notwithstanding that from time to time prior thereto, Seller and/or
Pledgor may be free from any Obligations. 
 (f) Nothing herein shall be deemed a waiver of any right which Buyer may have under Sections
506(a), 506(b), 1111(b) or any other provision of the Bankruptcy Code to file a claim for the full amount of the outstanding obligations under the Repurchase Agreement or to require that all Purchased Assets shall continue to secure all of the
outstanding obligations owing to Buyer in accordance with the Repurchase Agreement or any other Transaction Documents. 
 (g) No payment or
payments made by Seller, Pledgor or any other Person or received or collected by Buyer from Seller, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or
application, at any time or from time to time, in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of Guarantor hereunder which shall, notwithstanding any such payment or
payments, remain liable for the amount of the Obligations under this Guarantee until the Obligations are paid in full. 
 (h) Guarantor
agrees that whenever, at any time, or from time to time, Guarantor shall make any payment to Buyer on account of any liability hereunder, Guarantor will notify Buyer in writing that such payment is made under this Guarantee for such purpose. 

  
 -3- 

 3. Subrogation. Upon making any payment hereunder, Guarantor shall be subrogated to
the rights of Buyer against Seller and Pledgor and any collateral for any Obligations with respect to such payment; provided, that Guarantor shall not seek to enforce any right or receive any payment by way of subrogation until all amounts
due and payable by Seller or Pledgor to Buyer under the Transaction Documents or any related documents have been paid in full; provided, further, that such subrogation rights shall be subordinate in all respects to all amounts owing to
Buyer under the Transaction Documents. 
 4. Amendments, etc. with Respect to the Obligations. Guarantor shall remain obligated
hereunder notwithstanding that, without any reservation of rights against Guarantor, and without notice to or further assent by Guarantor, any demand for payment of any of the Obligations made by Buyer may be rescinded by Buyer and any of the
Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be
renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by Buyer and any Transaction Document and any other document in connection therewith may be amended, modified, supplemented or terminated, in whole or in
part, as Buyer may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by Buyer for the payment of the Obligations may be sold, exchanged, waived, surrendered or released. Buyer shall have no
obligation to protect, secure, perfect or insure any lien at any time held by it as security for the Obligations or any property subject thereto. When making any demand hereunder against Guarantor, Buyer may, but shall be under no obligation to,
make a similar demand on Seller or any other Person, and any failure by Buyer to make any such demand or to collect any payments from Seller or any such other Person or any release of Seller or such other Person shall not relieve Guarantor of its
Obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of Buyer against Guarantor. For the purposes hereof “demand” shall include the commencement and
continuance of any legal proceedings. 
 5. Guarantee Absolute and Unconditional. (a) Guarantor hereby agrees that its
obligations under this Guarantee constitute a guarantee of payment when due and not of collection. Guarantor waives any and all notice of the creation, renewal, extension or accrual of any of the Obligations and notice of or proof of reliance by
Buyer upon this Guarantee or acceptance of this Guarantee; the Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Guarantee; and all dealings between Seller and Guarantor, on
the one hand, and Buyer, on the other hand, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Guarantee. Guarantor waives promptness, diligence, presentment, protest, demand for payment and notice of
default or nonpayment to or upon Seller or Guarantor with respect to the Obligations. This Guarantee shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (i) the validity, regularity or
enforceability of any Transaction Document, any of the Obligations or any collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by Buyer, (ii) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available to or be asserted by Seller against Buyer, (iii) any requirement that Buyer exhaust any right to take
any action against Seller or any other Person prior to or contemporaneously with proceeding to exercise any right against Guarantor under this Guarantee or (iv) any other circumstance 

  
 -4- 

 
whatsoever (with or without notice to or knowledge of Seller and Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of Seller for the Obligations,
in bankruptcy or in any other instance. When pursuing its rights and remedies hereunder against Guarantor, Buyer may, but shall be under no obligation, to pursue such rights and remedies that Buyer may have against Seller or any other Person or
against any collateral security or guarantee for the Obligations or any right of offset with respect thereto, and any failure by Buyer to pursue such other rights or remedies or to collect any payments from Seller or any such other Person or to
realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of Seller or any such other Person or any such collateral security, guarantee or right of offset, shall not relieve Guarantor of any
liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of Buyer against Guarantor. This Guarantee shall remain in full force and effect and be binding in accordance with
and to the extent of its terms upon Guarantor and its successors and assigns thereof, and shall inure to the benefit of Buyer and its permitted successors, endorsees, transferees and assigns, until all the Obligations and the obligations of
Guarantor under this Guarantee shall have been satisfied by payment in full. 
 (b) Without limiting the generality of the foregoing,
Guarantor hereby agrees, acknowledges, and represents and warrants to Buyer as follows: 
 (i) Guarantor hereby waives any defense arising by
reason of, and any and all right to assert against Buyer any claim or defense based upon, an election of remedies by Buyer which in any manner impairs, affects, reduces, releases, destroys and/or extinguishes Guarantor’s subrogation rights,
rights to proceed against Seller or any other guarantor for reimbursement or contribution, and/or any other rights of Guarantor to proceed against Seller, any other guarantor or any other person or security. 

(ii) Guarantor is presently informed of the financial condition of Seller and of all other circumstances which diligent inquiry would reveal
and which bear upon the risk of nonpayment of the Obligations. Guarantor hereby covenants that it will make its own investigation and will continue to keep itself informed about the financial condition of Seller, the status of other guarantors, if
any, of all other circumstances which bear upon the risk of nonpayment and that it will continue to rely upon sources other than Buyer for such information and will not rely upon Buyer for any such information. Absent a written request for such
information by Guarantor to Buyer, Guarantor hereby waives the right, if any, to require Buyer to disclose to Guarantor any information which Buyer may now or hereafter acquire concerning such condition or circumstances including, but not limited
to, the release of or revocation by any other guarantor. 
 (iii) Guarantor has independently reviewed the Transaction Documents and related
agreements and has made an independent determination as to the validity and enforceability thereof, and in executing and delivering this Guarantee to Buyer, Guarantor is not in any manner relying upon the validity, and/or enforceability, and/or
attachment, and/or perfection of any liens or security interests of any kind or nature granted by Seller or any other guarantor to Buyer, now or at any time and from time to time in the future. 

  
 -5- 

 6. Reinstatement. This Guarantee shall continue to be effective, or be reinstated, as
the case may be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by Buyer upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of Seller or upon or
as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for Seller or any substantial part of the property of Seller, or otherwise, all as though such payments had not been made. 

7. Payments. Guarantor hereby agrees that the Obligations will be paid to Buyer, without
set-off or counterclaim in United States Dollars at the address specified in writing by Buyer. 
 8.
Representations and Warranties. Guarantor represents and warrants that: 
 (a) It is duly organized, validly existing and in good
standing under the laws and regulations of its jurisdiction of incorporation or organization, as the case may be. It is duly licensed, qualified, and in good standing in every state where such licensing or qualification is necessary for the
transaction of its business, except to the extent that the failure to be licensed or qualified could not reasonably be expected to have a Material Adverse Effect. It has the power to own and hold the assets it purports to own and hold, and to carry
on its business as now being conducted and proposed to be conducted, and has the power to execute, deliver, and perform its obligations under this Guarantee and the other Transaction Documents; 

(b) This Guarantee has been duly executed by it, for good and valuable consideration. This Guarantee constitutes a legal, valid and binding
obligation of Guarantor enforceable in accordance with its terms, except as enforceability 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 (whether enforcement is sought in proceedings in equity or at law); 
 (c) Guarantor does not believe, nor
does it have any reason or cause to believe, that it cannot perform in all respects all covenants and obligations contained in this Guarantee applicable to it; 

(d) The execution, delivery and performance of this Guarantee will not violate (i) its organizational documents, (ii) any
contractual obligation to which it is now a party or constitute a default thereunder, or result thereunder in the creation or imposition of any Lien upon any of its assets, (iii) any judgment or order, writ, injunction, decree or demand of any
court applicable to it, or (iv) any applicable Requirement of Law, except to the extent that such violation could not reasonably be expected to have a Material Adverse Effect; 

(e) There is no action, suit, proceeding, litigation, investigation, arbitration or proceeding of or before any arbitrator or Governmental
Authority pending or, to the knowledge of Guarantor, threatened by or against Guarantor or against its assets (i) with respect to any of the Transaction Documents or any of the transactions contemplated hereby or thereby or (ii) that could
reasonably be expected to have a Material Adverse Effect. Guarantor is in compliance in all material respects with all Requirements of Law. Guarantor is not in default in any material respect with respect to any judgment, order, writ, injunction,
decree, rule, or regulation of any arbitrator or Governmental Authority; 

  
 -6- 

 (f) Guarantor has timely filed all required federal income tax returns and all other
material tax returns, domestic and foreign, required to be filed by it and has paid all federal and other Taxes (whether or not shown on a return), which have become due, except for Taxes that are being contested in good faith by appropriate
proceedings diligently conducted and for which appropriate reserves have been established in accordance with GAAP. Guarantor has satisfied all of its withholding tax obligations. No tax Liens have been filed against any assets of Guarantor and no
claims are currently being asserted in writing against Guarantor with respect to Taxes (except for liens and with respect to Taxes not yet due and payable or liens or claims with respect to Taxes that are being contested in good faith and for which
adequate reserves have been established in accordance with GAAP); 
 (g) No order, consent, approval, license, authorization or validation
of, or filing, recording or registration with, or exemption by, any Governmental Authority or any other Person is required to authorize, or is required in connection with, (i) the execution and performance of this Guarantee, (ii) the
legality, validity, binding effect or enforceability of this Guarantee against it or (iii) the consummation of the transactions contemplated by this Guarantee, except filing obligations with the Securities and Exchange Commission arising in the
ordinary course of Guarantor’s business as a public company, if applicable, including, without limitation, 8K, 10Q and 10K filings, which have been obtained and are in full force and effect; and 

(h) There are no judgments against Guarantor unsatisfied of record or docketed in any court located in the United States of America that could
reasonably be expected to have a Material Adverse Effect and no Act of Insolvency has ever occurred with respect to it. 
 Guarantor agrees
that the foregoing representations and warranties shall be deemed to have been made by Guarantor on the date of each Transaction under the Repurchase Agreement, on and as of such date of the Transaction, as though made hereunder on and as of such
date. 
 9. Financial Covenants.1 

(a) Guarantor hereby agrees that, until the Repurchase Obligations have been paid in full, Guarantor shall not: 

(i) permit at any time its Cash Liquidity to be less than Fifteen Million and No/100 Dollars ($15,000,000.00); 

(ii) permit at any time its Tangible Net Worth to be less than the sum of (A) Four Hundred Fifty Million and No/100 Dollars
($450,000,000.00) plus (B) seventy-five percent (75%) of any additional equity raised by Guarantor; and 
  

	1 	 Subject to GS review. 

  
 -7- 

 (iii) permit at any time the ratio of EBITDA to Fixed Charges to be less than 1.5 to 1.00;
and 
 (iv) permit at any time the ratio of its Total Indebtedness to the Tangible Net Worth as of the end of each fiscal quarter to be
greater than 3.5 to 1.0. 
 (b) Guarantor’s compliance with the covenants set forth in this Section 9 must be
evidenced by the financial statements and by a Covenant Compliance Certificate in the form of Exhibit IX to the Repurchase Agreement furnished together therewith, as provided by Seller to Buyer pursuant to Article 11(g) of the Repurchase
Agreement and compliance with all such covenants are subject to continuing verification of Buyer and Guarantor shall provide information that is reasonably requested by Buyer with respect to any lawsuits and/or other matters disclosed in any
financial statements of Guarantor delivered to Buyer which would reasonably be expected to have a Material Adverse Effect on Guarantor’s ability to comply with the covenants set forth in this Section 9;
provided, that, for the avoidance of doubt, such continued verification shall not obligate Guarantor or Seller to provide additional financial statements or Covenant Compliance Certificates other than those required under Article 11(g)
of the Repurchase Agreement. 
 (c) If Guarantor has entered into or shall enter into or amend a repurchase agreement, warehouse facility or
other lending transaction with any other repurchase buyer or lender which by its terms provides more favorable terms to such other repurchase buyer or lender with respect to any financial covenants contained in this Guarantee (“More
Favorable Agreement”), then (i) the financial covenants contained in this Guarantee shall be deemed to be automatically modified to such more favorable terms as of the effective date of such More Favorable Agreement, and
(ii) Guarantor shall give (a) in the case of an existing More Favorable Agreement, prompt notice to Buyer of such more favorable terms, or (b) in the case of a More Favorable Agreement that has not yet been executed, not less than ten
(10) Business Days’ prior notice of such more favorable terms. Upon Buyer’s request, Guarantor shall enter into such amendments to this Guarantee and any other Transaction Document as may be required by Buyer to give effect to such
more favorable terms. 
 10. Further Covenants of Guarantor: 

(a) Taxes. Guarantor will timely file all required federal income tax returns and all other material tax returns, domestic and foreign,
required to be filed by it and will pay all federal and other material Taxes (whether or not shown on a return), which have become due, except for Taxes that are being contested in good faith by appropriate proceedings diligently conducted and for
which appropriate reserves have been established in accordance with GAAP. 
 (b) Anti-Money Laundering, Anti-Corruption and Economic
Sanctions. 
 (i) Guarantor is in compliance, in all material respects, with (A) the Trading with the Enemy Act, as amended, and
each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other applicable enabling legislation or executive order relating thereto, (B) the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct 

  
 -8- 

 
Terrorism of 2001 (the “USA PATRIOT Act of 2001”), and (C) the United States Foreign Corrupt Practices Act of 1977, as amended, and any other applicable anti-bribery laws
and regulations. No part of the proceeds of any Transaction will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 

(ii) Guarantor agrees that, from time to time upon the prior written request of Buyer, it shall execute and deliver such further documents,
provide such additional information and reports and perform such other acts as Buyer may reasonably request in order to insure compliance with the provisions hereof (including, without limitation, compliance with the USA Patriot Act of 2001 and to
fully effectuate the purposes of this Guarantee); provided, however, that nothing in this Section 10(b)(ii) shall be construed as requiring Buyer to conduct any inquiry or decreasing Guarantor’s
responsibility for its statements, representations, warranties or covenants hereunder. In order to enable Buyer and its Affiliates to comply with any anti-money laundering program and related responsibilities including, but not limited to, any
obligations under the USA Patriot Act of 2001 and regulations thereunder, Guarantor on behalf of itself and its Affiliates makes the following representations and covenants to Buyer and its Affiliates, that neither Guarantor, nor, any of its
Affiliates, is a Prohibited Investor and Guarantor is not acting on behalf of or on behalf of any Prohibited Investor. Guarantor agrees to promptly notify Buyer or a person appointed by Buyer to administer their anti-money laundering program, if
applicable, of any change in information affecting this representation and covenant. 
 (c) Office of Foreign Assets Control.
Guarantor warrants, represents and covenants that neither Seller, any of its Affiliates or the Purchased Assets are or will be an entity or Person that is or is owned or controlled by a Person that is the subject of any Sanctions. Guarantor
covenants and agrees that, with respect to the Transactions under this Guarantee, none of Guarantor or, to Guarantor’s Knowledge, any of its Affiliates will conduct any business, nor engage in any transaction, assets or dealings, with any
Person who is the subject of Sanctions. Guarantor further covenants and agrees that it will not, directly or indirectly, use the proceeds of the facility, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture
partner or other Person to fund or facilitate any activities or business of or with any Person who is the subject of Sanctions or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions. 

(d) Financial Reporting. Upon Buyer’s request, Guarantor shall provide, or cause to be provided, to Buyer copies of
Guarantor’s consolidated Federal Income Tax returns, if any, delivered within thirty (30) days after the earlier of (A) filing or (B) the last filing extension period. 

(e) Limitation on Distributions. After the occurrence and during the continuation of any Event of Default, Guarantor shall not declare
or make any payment on account of, or set apart assets for, a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of any equity or partnership interest of Guarantor, whether now or hereafter
outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Guarantor; 

  
 -9- 

 
provided that, so long as no monetary Event of Default referenced in Section 13(a)(i), (ii), (iii) or (iv) of the Repurchase Agreement in an amount equal to or greater than $500,000
shall have occurred and be continuing, Claros Mortgage Trust, Inc. may distribute the minimum amount of cash required to be distributed so that Claros Mortgage Trust, Inc. can maintain its status as a “real estate investment trust” under
Sections 856 through 860 of the Code and avoid the payment of any income or excise taxes imposed under Sections 857(b)(1), 857(b)(3) or 4981 of the Code. 

11. Right of Set-Off. Guarantor hereby irrevocably authorizes Buyer and its Affiliates, without
notice to Guarantor, any such notice being expressly waived by Guarantor to the extent permitted by applicable law, upon any Obligations becoming due and payable by Guarantor (whether at stated maturity, by acceleration or otherwise), to set-off and appropriate and apply any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case
whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Buyer to or for the credit or the account of Guarantor, or any part thereof in such amounts as Buyer may elect, against and on account of the
obligations and liabilities of Guarantor to Buyer hereunder and claims of every nature and description of Buyer against Guarantor, in any currency, arising under any Transaction Document, as Buyer may elect, whether or not Buyer has made any demand
for payment and although such obligations, liabilities and claims may be contingent or unmatured. Buyer shall notify Guarantor promptly of any such set-off and the application made by Buyer, provided
that the failure to give such notice shall not affect the validity of such set-off and application. The rights of Buyer under this Section 11 are in addition to other rights and
remedies (including, without limitation, other rights of set-off) that the Buyer may have. 
 12.
Severability. Any provision of this Guarantee which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

13. Section Headings. The section headings used in this Guarantee are for convenience of reference only and are not to affect the
construction hereof or be taken into consideration in the interpretation hereof. 
 14. No Waiver; Cumulative Remedies. Buyer shall
not by any act (except by a written instrument pursuant to Section 15 hereof), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any default or event of
default or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of Buyer, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise
of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by Buyer of any right or remedy hereunder on any one occasion shall not be construed as
a bar to any right or remedy which Buyer would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any rights or remedies provided by law.

  
 -10- 

 15. Waivers and Amendments; Successors and Assigns; Governing Law. None of the terms
or provisions of this Guarantee may be waived, amended, supplemented or otherwise modified except by a written instrument executed by Guarantor and Buyer. This Guarantee shall be binding upon successors and assigns of Guarantor and shall inure to
the benefit of Buyer, and their respective successors and permitted assigns. THIS GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF. 

16. Notices. Unless otherwise provided in this Guarantee, all notices, consents, approvals and requests required or permitted hereunder
shall be given in writing and shall be effective for all purposes if hand delivered or sent by (a) hand delivery, with proof of delivery, (b) certified or registered United States mail, postage prepaid, (c) expedited prepaid delivery
service, either commercial or United States Postal Service, with proof of delivery or (d) by telecopier (with answerback acknowledged) or e-mail provided that such telecopied or e-mailed notice must also be delivered by one of the means set forth above, to the address specified below or at such other address and person as shall be designated from time to time by any party hereto, as the
case may be, in a written notice to the other parties hereto in the manner provided for in this Section 16. A notice shall be deemed to have been given: (w) in the case of hand delivery, at the time of delivery,
(x) in the case of registered or certified mail, when delivered or the first attempted delivery on a Business Day, (y) in the case of expedited prepaid delivery upon the first attempted delivery on a Business Day, or (z) in the case
of telecopier, upon receipt of answerback confirmation, provided that such telecopied notice was also delivered as required in this Section 16. A party receiving a notice that does not comply with the technical requirements
for notice under this Section 16 may elect to waive any deficiencies and treat the notice as having been properly given. 
  

			
	 Buyer:
	  	 Goldman Sachs Bank USA
 200 West Street

New York, New York 10282

Attention:    Mr. Jeffrey Dawkins

Telephone:   [***]

Facsimile:    [***]

Email:     [***]

		
	 With copies to:
	  	 Paul Hastings LLP
 200 Park Avenue

New York, NY 10166

Attention:    Lisa A. Chaney, Esq.

Facsimile:    [***]

Email:     [***]

  
 -11- 

			
	 Guarantor:
	  	 Claros Mortgage Trust, Inc.
 c/o Mack Real
Estate Group
 60 Columbus Circle, 20th Floor
 New York, New
York 10023
 Attention:    Michael McGillis

Telephone:   [***]

Email:     [***]

		
	 With copies to:
	  	 c/o Mack Real Estate Group
 60 Columbus
Circle, 20th Floor
 New York, New York 10023

Attention:    General Counsel

Email:     [***]

		
	 And to:
	  	 Sidley Austin LLP
 787 Seventh Avenue

New York, NY 10019

Attention:   Brian Krisberg, Esq.

Telephone:   [***]

Telecopy:    [***]

Email:     [***]

 17. SUBMISSION TO JURISDICTION; WAIVERS. EACH OF GUARANTOR AND BUYER HEREBY IRREVOCABLY AND
UNCONDITIONALLY: 
 (A) SUBMITS TO THE NON- EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE
OF NEW YORK, THE COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF, SOLELY FOR THE PURPOSE OF ANY SUIT, ACTION OR PROCEEDING BROUGHT TO ENFORCE ITS OBLIGATIONS UNDER THIS GUARANTEE OR
RELATING IN ANY WAY TO THIS GUARANTEE, THE REPURCHASE AGREEMENT OR ANY TRANSACTION UNDER THE REPURCHASE AGREEMENT; 
 (B) CONSENTS THAT ANY
SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT AND ANY RIGHT OF JURISDICTION
ON ACCOUNT OF ITS PLACE OF RESIDENCE OR DOMICILE; 
 (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 IN SECTION 16 HEREOF OR AT SUCH OTHER ADDRESS OF WHICH BUYER SHALL HAVE BEEN NOTIFIED; AND 

  
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 (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. 
 18. Integration. This Guarantee
represents the agreement of Guarantor with respect to the subject matter hereof and there are no promises or representations by Buyer relative to the subject matter hereof not reflected herein. 

19. Counterparts. This Guarantee may be executed in counterparts, each of which so executed shall be deemed to be an original, but all
of such counterparts shall together constitute but one and the same instrument. Delivery by telecopier or other electronic transmission (including a .pdf e-mail transmission) of an executed counterpart of a
signature page to this Guarantee shall be effective as delivery of an original executed counterpart of this Guarantee. 
 20.
Acknowledgments. Guarantor hereby acknowledges that: 
 (a) Guarantor has been advised by counsel in the negotiation, execution and
delivery of this Guarantee and the related documents; 
 (b) Buyer does not have any fiduciary relationship to Guarantor, and the
relationship between Buyer, on the one hand, and Guarantor, on the other, is solely that of creditor and surety; and 
 (c) no joint venture
exists between or among any of Buyer, Guarantor and/or Seller. 
 21. Intent. Guarantor intends for this Guarantee to be a credit
enhancement related to a repurchase agreement, within the meaning of Section 101(47) of the Bankruptcy Code and, therefore, for this Guarantee to be itself a repurchase agreement, within the meaning of Section 101(47) and Section 559
of the Bankruptcy Code. 
 22. WAIVERS OF JURY TRIAL. EACH OF GUARANTOR AND BUYER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL
BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE OR ANY RELATED DOCUMENT AND FOR ANY COUNTERCLAIM HEREIN OR THEREIN. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -13- 

 IN WITNESS WHEREOF, the undersigned has caused this Guarantee to be duly executed and
delivered as of the date first above written. 
  

			
	 GUARANTOR:

	
	CLAROS MORTGAGE TRUST INC., a Maryland corporation
		
	 By:
	 	 /s/ J. Michael McGillis

		 	 Name: J. Michael McGillis

		 	 Title: Authorized Representative

 Exhibit A 

Definitions 

“Capitalized Lease Obligations” shall mean obligations under a lease that are required to be capitalized for financial
reporting purposes in accordance with GAAP. The amount of a Capitalized Lease Obligation is the capitalized amount of such obligation as would be required to be reflected on the balance sheet prepared in accordance with GAAP of the applicable Person
as of the applicable date. 
 “Cash Liquidity” shall mean, for any Person on any date, the amount of unrestricted cash and
Cash Equivalents held by such Person and its consolidated subsidiaries. 
 “Cash Equivalents” shall mean, as of any date of
determination, (a) marketable securities (i) issued or directly and unconditionally guaranteed as to interest and principal by the United States Government or (ii) issued by any agency of the United States the obligations of which are
backed by the full faith and credit of the United States and (b) time deposits, certificates of deposit, money market accounts or banker’s acceptances of any investment grade rated commercial bank, in each case maturing within ninety
(90) days after such date. 
 “EBITDA” shall mean, for any period, with respect to any Person and its consolidated
Subsidiaries, an amount equal to the Net Income of such Person, plus the sum of (a) the amount of depreciation and amortization expense deducted in determining Net Income for such fiscal quarter, (b) the amount of Interest Expense
deducted in determining Net Income for such fiscal quarter, (c) the sum of federal, state, local and foreign income taxes accrued or paid in cash during such fiscal quarter, and (d) the amount of any extraordinary or non-recurring items reducing Net Income for such period. 
 “Fixed Charges” shall mean,
with respect to any Person and for the applicable measurement period, the sum of (a) debt service, (b) all preferred dividends, (c) Capitalized Lease Obligations paid or accrued during such period, (d) capital expenditures (if
any), and (e) any amounts payable under any ground lease. 
 “Indebtedness” shall mean, for any Person,
(a) obligations created, issued or incurred by such Person for borrowed money (whether by loan, the issuance and sale of debt securities or the sale of property to another Person subject to an understanding or agreement, contingent or
otherwise, to repurchase such property from such Person); (b) obligations of such Person to pay the deferred purchase or acquisition price of property or services, other than trade accounts payable (other than for borrowed money) arising, and
accrued expenses incurred, in the ordinary course of business so long as such trade accounts payable are payable within sixty (60) days of the date the respective goods are delivered or the respective services are rendered;
(c) Indebtedness of others secured by a lien on the property of such Person, whether or not the respective Indebtedness so secured has been assumed by such Person; (d) obligations (contingent or otherwise) of such Person in respect of
letters of credit or similar instruments issued or accepted by banks and other financial institutions for account of such Person; (e) obligations of such Person under repurchase agreements, sale/buy-back
agreements or like arrangements; (f) Indebtedness of others guaranteed by such Person; (g) all obligations of such Person incurred in 

  
 -15- 

 
connection with the acquisition or carrying of fixed assets by such Person; (h) Indebtedness of general partnerships of which such Person is secondarily or contingently liable (other than by
endorsement of instruments in the course of collection), whether by reason of any agreement to acquire such indebtedness to supply or advance sums or otherwise; (i) Capitalized Lease Obligations of such Person; (j) all net liabilities or
obligations under any interest rate, interest rate swap, interest rate cap, interest rate floor, interest rate collar, or other hedging instrument or agreement; and (k) Off-Balance Sheet Obligations. 

“Interest Expense” shall mean, for any period, with respect to any Person and its consolidated Subsidiaries, the amount of
total interest expense (including capitalized and accruing interest) incurred by such Person during such period. 
 “Net
Income” shall mean, for any period, with respect to any Person, the consolidated net income (or loss) for such period as reported in such Person’s financial statements prepared in accordance with GAAP. 

“Off-Balance Sheet Obligations” shall mean, with respect to any Person and any date,
to the extent not included as a liability on the balance sheet of such Person, all of the following with respect to such Person as of such date: (a) monetary obligations under any financing lease or
so-called “synthetic,” tax retention or off-balance sheet lease transaction which, upon the application of any Insolvency Laws, would be characterized as
Indebtedness, (b) monetary obligations under any sale and leaseback transaction which does not create a liability on the balance sheet of such Person, or (c) any other monetary obligation arising with respect to any other transaction which
(i) is characterized as Indebtedness for tax purposes but not for accounting purposes, or (ii) is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person
(for purposes of this clause (c), any transaction structured to provide tax deductibility as interest expense of any dividend, coupon or other periodic payment will be deemed to be the functional equivalent of a borrowing). 

“Tangible Net Worth” shall mean, with respect to any Person, as of any date of determination, (a) all amounts that would
be included under capital or shareholders’ equity (or like caption) on the balance sheet of such Person at such date, determined in accordance with GAAP as of such date, less (b)(i) amounts owing to such Person from Affiliates or from
officers, employees, partners, members, directors, shareholders or other Persons similarly affiliated with such Person or any Affiliate thereof, (ii) intangible assets of such Person (other than Hedging Transactions specifically related to the
Purchased Assets) and (iii) prepaid Taxes and/or expenses, all on or as of such date. 
 “Total Indebtedness” shall
mean, with respect to any Person, as of any date of determination, the aggregate Indebtedness of such Person plus the proportionate share of all Indebtedness of all non-consolidated Subsidiaries of such
Person as of such date; provided that, notwithstanding the foregoing, for purposes of the calculation of the Off-Balance Sheet Obligations referred to in clause (c) of such definition related to an asset
on the balance sheet of such Person, the Off-Balance Sheet Obligations shall include the proportionate share of Indebtedness which is senior to the asset on the balance sheet of such Person as of such date.

  
 -16-

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